Statements EFTA00195104

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OFFICE SERVICING YOUR ACCOUNT BEAR STEARNS ACCOUNT EXECUTIVE ZICHERMAN, IRA Bear, Stearns & Co. Inc. 383 Madison Avenue New = New York 10179 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD Novernber 29,2003 TELEPHONE THROUGH December 31,2003 VISIT OUR WEBSITE www.bearstearns.com . account xumccr = What’s In This Statement sell Dcclescdebddlbedlalobalbaldbalalel TAXPAYER NUMBER On File LAST STATEMENT November 28, 2003 Financial Summary , 3 EPSTEIN INTERESTS Your Portfolio Holdings . . 4 OTD 12/26/91 Transaction Detail vues 5 JEFFERY E EPSTEIN & MARKL * Fund Activity ,, a) EPSTEIN & WILLIAM ELKUS TTEES Your Messages 6 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Your Portfolio at a Glance Market Value of Your Portfolio Important Message a $845,156 if any information regarding NET CREDIT BALANCE 3,458 $844,527 miscellaneous income, MONEY MARKET FUND BALANCE 841,698 gross proceeds or original HE Current market value issue discount is required Ney coury thas $845 156 $888 Last statements market value ve reporea the IRS for snessseanseansesse1 seesseaneeanseeasensees 1s anteansenasentconseaete1sceenseseanen Consolidated Form 1099 NET EQUITY LAST STATEMENT 844,527 will be mailed to you by February 2,20040r a 1042S CHANGE SINCE LAST STATEMENT 629 by March 15,2004. “This portfolio indudes one or more unpriced sccurties that are not refected in the Total Value of Securties and the Net Equity This Period. There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. ‘This summary 5 for informational purposes only. It Is not intended as a tax document, ‘This statemem should be retained for your records. See reverse side for important information. o27 01/01/04;12:84 001 Ploase mport any difference cr noe-roceigt of checks or stocks, indicated as delivered to you, © Client Senices at 800-624-1428; or write to Clam Services at Bear, Steams Securities Comp., One Metrotech Center North, Brooklyn, N.Y. 11201-3859. vate EFTA00195105

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2 of 6 STATEMENT BACKER IS PRINTED ON THIS PAGE 01/01/04;12:84 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS EFTA00195106

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 3 of6 Cash Flow Analysis THIS PERIOD OpeningBalance $3,458.06 Money Fund 629.25 Amount Credited $629.25 Money Fund -629.25 Amount Debited $-629.25 Closing Balance $3,458.06 Cash Balance Summary OPENING CLOSING Cash Net Cash Balance Income Summary ToS PERIOD YEAR TO DATE Dividends 629.25 8,308.84 Credit Balance Int. 0.00 49.78 Total $629.25 Portfolio Composition Cash/Cash Equivalent 845,156 Total $845,156 027 01/01/04;12:84 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOO November 29, 2003 THROUGH December 31,2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT November 28, 2003 Your Portfolio Allocation Cash & Equivalent — 100% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portiatio. vars EFTA00195107

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 4 of6 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE ANNUAL INCOME YELD (%} CASH BALANCE BEAR STEARNS PRIME MONEY BSMXX 841,697.77 1.0000 841,698 7,744 0.9200 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $845,156 $7,744 EQUITIES Equities & Options ACCT NANRKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP Tre QUANTITY PRICE VALUE ANNUAL INCOME YELD [%) BANPAIS SA-SPONSORED ADR BPIBY CASH 20,000 Unpriced REPSTG 6 SER L SHS Total Equities& Options $O $0 TOTAL EQUITIES $0 $0 YOUR TOTAL ESTIMATED ANNUAL INCOME $7,744 YOUR PRICED PORTFOLIOHOLDINGS $845,156 oz? 01/01104;12:84 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOO November 29, 2003 THROUGH December 31,2003 accoust numecr [S TAXPAYER NUMBER On File LAST STATEMENT November 28, 2003 vars EFTA00195108

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beas, Stearns Securities Corp. Bear, Stearns & Co. Inc. One Metratech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS a" 10179 EPSTEIN INTERESTS 5 of6 STATEMENT PERIOD November 29,2003 THROUGH December 31,2003 Transaction Detail accoust numecr [S TAXPAYER NUMBER On File MONEY FUND ACTIVITY LAST STATEMENT November 28, 2003 DATE MONDAY TRANSACTION DESCAIFTION SYMBOUOUSIF QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 11/29/03 OPENINGBALANCE 841,068.52 12/01/03 DIVIDEND BEAR STEARNS PRIME MONEY BSMXXx MARKET PORTFOLIO CL Y RECORD 11/28/03 PAY 11/28/03 MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00 12/31/03 CLOSINGBALANCE 841,697.77 TOTAL $-629.25 $629.25 027 01/01/04;12:84 001 vars EFTA00195109

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BEAR STEARNS 6 of6 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New = New York 10179 Your messages ie As part of the National Association of Securities Dealer's (NASD) Investor Education Program, you may obtain information on the NASD’s Public Disclosure Program by contacting the NASD at telephone number (800) 289-9999 or via the internet address which is www,nasdr,com, In addition, a brochure explaining the Public Disclosure Program is available from the NASD upon request, **ee** End of Statement™***** CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOO November 29, 2003 THROUGH December 31,2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT November 28, 2003 ZT Excess SIPC Account Protection Update Bear, Stearns Securities Corp, ("BSSC"), a member of the Securities Investor Protection Corporation ("SIPC"), provides account protection for the net equity of a customer's funds and securities positions, SIPC provides $500,000 of primary net equity protection, including $100,000 for claims for cash ("SIPC Coverage"). Visit www.sipc.org for more information about SIPC Coverage. BSSC provides the additional protection ("Excess SIPC") through a commercial insurer, Effective February 16, 2004, the commercial insurer for Excess SIPC will change to Customer Asset Protection Company ("CAPCO"), a licensed New York insurance company, Account protection applies when a SIPC member firm fails financially and is unable to meet its obligations to its securities customers, but does not apply to losses from the rise or fall in the market value of investments or to SIPC ineligible assets such as options, futures, foreign exchange transactions, or any investment contracts that are not registered as securities, 027 01/01/04;12:84 001 vars EFTA00195110

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OFFICE SERVICING YOUR ACCOUNT BEAR STEARNS ACCOUNT EXECUTIVE —ZICHERMAN, IRA TELEPHONE VISIT OUR WEBSITE wow.bearstearns.com What’s In This Statement Financial Summary ,. . 3 Your Portfolio Holdings . . 4 Transaction Detail vo. 5 Your Portfolio at a Glance NET CREDIT BALANCE 3,458 MONEY MARKET FUND BALANCE 841,069 ne TT 7 NET EQUITY LAST STATEMENT 843,881 CHANGE SINCE LAST STATEMENT 646 “This portfolio includes one or mom ungriced securties that are not reflected in the Total Value of Securties and the Net Equity This Period. There are no "Stop Loss’ orders or other pending buy or sell open orders on file for your account. Ploase mport any difference or noe-roceigt of checks or stocks, indicated as delivered to you, © Client Senices at 800-624-1428; or write to Clam Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3659. Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 EPSTEIN INTERESTS DTD 12/26/91 JEFFERY E EPSTEIN & MARKL * EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Market Value of Your Portfolio HE Current market value $888 Last statements market value This summary i for informational purposes only. It Is mot intended as a tax document This statement should be retained for your records. See reverse side for important information 027 11/28/03;06:43 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOO November 1, 2003 THROUGH November 28, 2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT October 31,2003 vais EFTA00195111

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2 of 5 STATEMENT BACKER IS PRINTED ON THIS PAGE 11/28/03;06:43 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS EFTA00195112

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BEAR STEARNS 3 of Cash Flow Analysis Openi: Balance OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 Income Summary THIS PERIOD nes reno $3,458.06 Dividends 645.48 . Credit Balance Int. 0.00 645.48 e000 eesecencecsscesececceses s sucsusccssccnseanscenses oe Money Fund Amount Credited Money Fund Amount Debited Closing Balance Cash Balance Summary Total $645.48 $645.48 -645.48 Portfolio Composition Cash/Cash Equivalent $3,458.06 Total Cash Net Cash Balance 027 YEAR TO DATE 7,679.59 49.78 $844,527 11/28/03;06:43 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD November 1, 2003 THROUGH November 28, 2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT October 31,2003 Your Portfolio Allocation Cash & Equivalent — 100% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portiatio. vars EFTA00195113

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North BEAR 383 Madison Avenue Brocklyn, New York 11201-2859 STEARNS New York. New York 10179 fl | EPSTEIN INTERESTS 4 ofS STATEMENT PERIOD November 1, 2003 THROUGH Novernber 28, 2003 Your Portfolio Holdings account numccr CASH & CASH EQUIVALENTS TAXPAYER NUMBER On File LAST STATEMENT October 31,2003 NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE ANNUAL INCOME YELD (%} CASH BALANCE BEAR STEARNS PRIME MONEY BSMXX 841,068.52 1.0000 841,069 7,570 0.9000 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $844,527 $7,570 EQUITIES Equities & Options ACCT NANRKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP Tre QUANTITY PRICE VALUE ANNUAL INCOME YELD [%) BANPAIS SA-SPONSORED ADR BPIBY CASH 20,000 Unpriced REPSTG 6 SER L SHS Total Equities& Options $O $0 TOTAL EQUITIES $0 $0 YOUR TOTAL ESTIMATED ANNUAL INCOME $7,570 YOUR PRICED PORTFOLIOHOLDINGS $844,527 oz? 11/29/03;08:43 001 vais EFTA00195114

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beas, Stearns Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North 383 Madison Avenue Brocklyn, New York 11201-3859 STEARNS a" 10179 EPSTEIN INTERESTS 5 os STATEMENT PERIOD November 1, 2003 THROUGH November 28, 2003 Transaction Detail accoust numecr [S TAXPAYER NUMBER On File MONEY FUND ACTIVITY LAST STATEMENT October 31, 2003 DATE MODAY TRANSACTION DESCAIPTION SYMBOUCUSIP QUANTITY PRICE OEBIT AMOUNT CREDIT AMOUNT 11/01/03 OPENINGBALANCE 840.423.04 11/03/03 DIVIDEND BEAR STEARNS PRIME MONEY BSMXXx MARKET PORTFOLIO CL Y RECORD 10/31/03 PAY 1 ‘03 MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00 11/28/03 CLOSINGBALANCE 841,068.52 TOTAL $-645.48 $645.48 f_™ (stop) ****** End of Statement*™***** \ / 027 11/29/03,06:43 001 vais EFTA00195115

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OFFICE SERVICING YOUR ACCOUNT BEAR STEARNS ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE — www.bearstearns.com What's In This Statement Financial Summary ,. » 3 Your Portfolio Holdings . . 4 Transaction Detail .....ssssseenees 5 Your Portfolio at a Glance NET CREDIT BALANCE 3,458 MONEY MARKET FUND BALANCE 840,423 —_— BRI NET EQUITY LAST STATEMENT 843,254 CHANGE SINCE LAST STATEMENT 627 “This portfolio includes one of mor unpriced securties that are not refected ih the Total Value of Securties and the Net Equity This Period There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. Please report any difference or nomreceipt of checks or stocks, indicated as delivered to you, % Client Senices at 800-634-1428; or write to Clont Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3659. Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 EPSTEIN INTERESTS OTD 12/26/91 JEFFERY E EPSTEIN & MARKL * EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Market Value of Your Portfolio HH Current market value $883 Last statements market value This summary is for informational purposes only. It is not intended as a tax document ‘Ths statemem should be retamed for your records See reverse side for important imformation. oz? 11/01/03;14:02 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD October 1, 2003 THROUGH October 31,2003 accor nuvecr TAXPAYER NUMBER On File LAST STATEMENT September 30, 2003 vars EFTA00195116

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2 of 5 STATEMENT BACKER IS PRINTED ON THIS PAGE 11/01/03;14:02 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS EFTA00195117

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 3 of Cash Flow Analysis THIS PERIOD OpeningBalance $3,458.06 Money Fund 627.31 Amount Credited $627.31 Money Fund -627.31 Amount Debited $-627.31 Closing Balance $3,458.06 Cash Balance Summary OPENING CLOSING Cash Net Cash Balance Income Summary ToS PERIOD YEAR TO DATE Dividends 627.31 7,034.11 Credit Balance Int. 0.00 49.78 Total $627.31 Portfolio Composition Cash/Cash Equivalent 843,881 Total $843,881 027 11/01/03;14:02 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD October 1, 2003 THROUGH October 31,2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT September 30, 2003 Your Portfolio Allocation Cash & Equivalent — 100% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portiatio. vars EFTA00195118

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 405 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE ANNUAL INCOME YELD (%} CASH BALANCE BEAR STEARNS PRIME MONEY BSMXX 840,423.04 1.0000 840,423 7,648 0.9100 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $843,881 $7,648 EQUITIES Equities & Options ACCT NANRKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP Tre QUANTITY PRICE VALUE ANNUAL INCOME YELD [%) BANPAIS SA-SPONSORED ADR BPIBY CASH 20,000 Unpriced REPSTG 6 SER L SHS Total Equities& Options $O $0 TOTAL EQUITIES $0 $0 YOUR TOTAL ESTIMATED ANNUAL INCOME $7,648 YOUR PRICED PORTFOLIOHOLDINGS $843,881 oz? 11/01103;14:02 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOO October 1, 2003 THROUGH October 31,2003 accoust numecr [S TAXPAYER NUMBER On File LAST STATEMENT September 30, 2003 vars EFTA00195119

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beas, Stearns Securities Corp. Bear, Stearns & Co. Inc. One Metratech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 EPSTEIN INTERESTS 5 os STATEMENT PERIOD October 1, 2003 THROUGH October 31,2003 Transaction Detail accoust numecr [S TAXPAYER NUMBER On File MONEY FUND ACTIVITY LAST STATEMENT September 30, 2003 DATE MONDAY TRANSACTION DESCAIFTION SYMBOUOUSIF QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 10/01/03 OPENINGBALANCE 839,795.73 10/01/03 DIVIDEND BEAR STEARNS PRIME MONEY BSMXXx MARKET PORTFOLIO CL ¥ RECORD 09/30/03 PAY 09/30/03 MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00 10/31/03 CLOSINGBALANCE 840.423.04 TOTAL $-627.31 $627.31 f_™ (stop) ****** End of Statement*™***** 027 11/01/03;14:02 001 vata EFTA00195120

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BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New = New York 10179 ZICHERMAN, IRA ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE — www.bearstearns.com What's In This Statement Financial Summary , 3 Your Portfolio Holdings . . 4 Transaction Detail .....ssssseeeneres 5 Fund Activity ,, . 5 Your Messages 6 Your Portfolio at a Glance NET CREDIT BALANCE 3,458 MONEY MARKET FUND BALANCE 839,796 C7 NET EQUITY LAST STATEMENT 842,601 CHANGE SINCE LAST STATEMENT 653 “This portfolio includes one or mom ungriced securties that are not reflected in the Total Value of Securties sand the Net Equity This Period. There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. Please mport any difference cr noe-roceigt of checks or stocks, indicated as delivered to you, © Client Senices at 800-624-1428; or write to Clam Services at Bear, Steams Securities Comp., One Metrotech Center North, Brooklyn, N.Y. 11201-3859, EPSTEIN INTERESTS DTD 12/26/91 JEFFERY E EPSTEIN & MARKL * EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Market Value of Your Portfolio HE Current market value $B Last statements market value ‘This summary is for informational purposes only. It Is not intended as a tax document. $843,254 $842,601 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD August 30,2003 THROUGH September 30, 2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT August 29,2003 Important Message Bear Stearns is pleased to announce our conversion to a calendar month-end Statement. Effective this month, your account statement reflects all activity and account valuation up to and including the last business day of the month. ‘This statemem should be retamed for your records. See reverse side for important information. oe? 1@/01/03;11:21 001 vaia EFTA00195121

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2 of? STATEMENT BACKER IS PRINTED ON THIS PAGE 10/01/03;11:21 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS EFTA00195122

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. a 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 EPSTEIN INTERESTS 3 of? , STATEMENT PERIOD August 30,2003 THROUGH September 30, 2003 Cash Flow Analysis Income Summary accor numer TAXPAYER NUMBER On File ToS PERIOD YEAR TO DATE LL LAST STATEMENT August 29, 2003 OpeningBalance $3,458.06 Dividends 653.23 6,406.80 . Credit Balance Int. 0.00 49.78 seneeeenenenees o Ses Total Amount Credited $653.23 Money Fund -653.23 Amount Debited ae $653.23 Portfolio Composition CastCash E lent 843.254 Closing Balance $3,458.06 ash/Cash Equivalent Total $843,254 Cash Balance Summary OPENING CLOSING Your Portfolio Cash Allocation Net Cash Balance Cash & Equivalent — 100% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portiatio. 027 10/01/03;11:21 001 vara EFTA00195123

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 47 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOUCUSIP QUANTITY PRICE ANNUAL INCOME _YELD (') CASH BALANCE BEAR STEARNS PRIME MONEY BSMXX 839,795.73 1.0000 839,796 7,558 0.9000 MARKET PORTFOLIO Ct ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $843,254 $7,558 EQUITIES Equities & Options ACCT NANRKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP Tre QUANTITY PRICE VALUE ANNUAL INCOME YELD [%) BANPAIS SA-SPONSORED ADR BPIBY CASH 20,000 Unpriced REPSTG 6 SER L SHS Total Equities& Options $O $0 TOTAL EQUITIES $0 $0 YOUR TOTAL ESTIMATED ANNUAL INCOME $7,558 YOUR PRICED PORTFOLIOHOLDINGS $843,254 oz? 10/01/03;11:21 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOO August 30,2003 September 30, 2003 accoust numecr [S TAXPAYER NUMBER On File August 29, 2003 THROUGH LAST STATEMENT EFTA00195124

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beas, Stearns Securities Corp. Bear, Stearns & Co. Inc. One Metratech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS a" 10179 EPSTEIN INTERESTS 5 of? STATEMENT PERIOD August 30,2003 THROUGH September 30, 2003 Transaction Detail accoust numecr [S TAXPAYER NUMBER On File MONEY FUND ACTIVITY LAST STATEMENT — August 29, 2003 DATE MONDAY TRANSACTION DESCAIFTION SYMBOUOUSIF QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 08/30/03 OPENINGBALANCE 839,142.50 MARKET PORTFOLIO CL Y RECORD 08/29/03 PAY 08/29/03 MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00 09/30/03 CLOSINGBALANCE 839,795.73 TOTAL $-653.23 $653.23 027 10/01/03;11:21 001 vara EFTA00195125

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BEAR STEARNS 6 of? OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New = New York 10179 Your messages ‘i Bear, Stearns Securities Corp, Net Capital and Net Capital Requirements: At May 31, 2003 and July 31, 2003, the Company's net capital of approximately $2.4 billion and $3.0 billion was approximately 6% and 7% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately $799.5 million and $904.4 million by approximately $1.6 billion and $2.1 billion, all respectively, A complete copy of the Bear, Stearns Securities Corp, Statement of Financial Condition is available on the web site www.bearsteams,com, Alternatively, to request a free printed copy please call - toll free 1-866-299-9331, CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOO August 30,2003 THROUGH September 30, 2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT August 29, 2003 ZT Securities and other assets in your account are the firm's collateral for any margin loan made to you. If the securities and other assets in your account decline in value, so does the value of the collateral supporting your loan, and, as a result, the firm can take action, such as issue a margin call and/or sell securities or other assets in any of your accounts held with the member, in order to maintain the required equity in the account, It is important that you fully understand the risks involved in trading securities on margin, These risks include the following: * You can lose more funds than you deposit in the margin account, * The firm can force the sale of securities or other assets in you account(s), * The firm can sell your securities or other assets without contacting you. * You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold to meet a margin call, * The firm can increase its “house” maintenance margin requirements at any time and is not required to provide you advance written notice, * You are not entitled to an extension of time on a margin call, 027 10/01/03;11:21 001 vara EFTA00195126

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BEAR STEARNS Tor OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New = New York 10179 ES This statement is provided to explain Bear, Stearns & Co, Inc,’s ("BSC") payment for order flow practices. BSC routes a majority of orders for customer securities transactions to the primary market for such securities, Orders may also be routed to other market service vendors that assure executions pursuant to complex mathematical formulas at better than the national best bid or best offer (NBBO). BSC receives no cash payment or other consideration for such order routing other than favorable executions or executions of limit orders at no additional charge. ****** End of Statement™***** CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOO August 30,2003 THROUGH September 30, 2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT August 29, 2003 TZ Pursuant to SEC Rule 11Ac1-6, please note the following: Bear, Stearns & Co, Inc, will post its quarterly routing statistics at the following web link: http://www,bearstearns,com/, Click on Individual Investor, Click on Equities, Click on Order Routing Practices, Customers of Bear, Stearns & Co, Inc, may request information on any order executed within the prior six months from the time of the request. Specifically, you may request the identity of the venue to which the identified orders were routed for execution, whether the order was directed by you to that venue, and the time of the executions, if any, that resulted from such orders, 027 10/01/03;11:21 001 vaia EFTA00195127

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BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New = New York 10179 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOO July 26, 2003 ACCOUNT EXECUTIVE = ZICHERMAN, IRA TELEPHONE THROUGH August 29, 2003 VISIT OUR WEBSITE www.bearstearns.com . account xumccr = What’s In This Statement sell Dccalescdebddlbbladolalbaldbalalel TAXPAYER NUMBER On File LAST STATEMENT duly 25, 2003 EPSTEIN INTERESTS Financial Summary , . 38 Your Portfolio Holdings . 1 4 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN & MARKL * ee sssessseesannaneneanacansasassaes EPSTEIN & WILLIAM ELKUS TIEES UNG ACKIVItY ssssanssnssaaeasasessssensssssanssnanians 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Your Portfolio at a Glance Market Value of Your Portfolio Important: Message cash & € len $842,601 Bear Stearns is pleased to NET CREDIT BALANCE 3,458 $841,938 a calendar month-end MONEY MARKET FUND BALANCE 839,143 mee statement. Effective HE Current market value September 2003, your svvssessnnusesensessansesnseneennsensenness\ssennueeeennseesonnuenssssanensennas BEB Last statement's market value account statement will NET EQUITY THIS PERIOD $842,601 reflect all activity and ssvsseesnnssenensssaneennueessnnssteennes\ssennueesennessesnnnesssscaneeeeennast nt valuation up to and NET EQUITY LAST STATEMENT 841,938 including the last business day of the month. CHANGE SINCE LAST STATEMENT 663 “This portfolio indudes one or more unpriced sccurties that are not refected in the Total Value of Securties and the Net Equity This Period There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. Please report any diference or nomrecaipt of checks or stocks, indicated as delivered to you, ‘This summary is for informational purposes only. It Is not intended as a tax document, % Client Senices at 800-634-1428; cr write to Clont Services at Bear, Steams Securities ‘This statemem should be retained for your records. See reverse side for important information, Corp., One Metrolech Center North, Brooklyn, N.Y. 11201-3859, 027 08/9003:13:45 001 vat2 EFTA00195128

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2 of 5 STATEMENT BACKER IS PRINTED ON THIS PAGE (08/3003;13:45 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS EFTA00195129

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. a 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 EPSTEIN INTERESTS 3 of STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 Cash Flow Analysis Income Summary accor numer TAXPAYER NUMBER On File ToS PERIOD YEAR TO DATE THIS PERIOD a LAST STATEMENT July 25, 2003 OpeningBalance $3,458.06 Dividends 662.71 5,753.57 . Credit Balance Int. 0.00 49.78 seneeeenenenees o Ses Total Amount Credited $662.71 Money Fund -662.71 Amount Debited Portfolio Composition . Cash/Cash Equivalent 842,601 Closing Balance $3,458.06 Total $842,601 Cash Balance Summary OPENING CLOSING Your Portfolio Cash Allocation Net Cash Balance Cash & Equivalent — 100% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portiatio. 027 (08/3003;13:45 001 vai2 EFTA00195130

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 405 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED ANNUAL INCOME (QURRENT DESCRIPTION PRICE YELD (%} CASH BALANCE SYMBOU'CUSIP QUANTITY BSMXX 1.0000 7,636 BEAR STEARNS PRIME MONEY 0.9100 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS 839,142.50 839,143 $842,601 $7,636 EQUITIES Equities & Options ACCT WAARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TYPE QUANTITY PRIEE VALUE ANNUAL INCOME YELD [%} BANPAIS SA-SPONSOREDADR BPIBY CASH 20,000 Unpriced REPSTG 6 SER L SHS Total Equities& Options TOTAL EQUITIES g $0 $0 g $7,636 $842,601 YOUR TOTAL ESTIMATED ANNUAL INCOME YOUR PRICED PORTFOLIOHOLDINGS 027 (08/3003;13:45 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS July 26, 2003 August 29, 2003 On File July 25, 2003 STATEMENT PERIOD THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT vai2 EFTA00195131

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beas, Stearns Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North BEAR 383 Madison Avenue Brocklyn, New York 11201-2859 STEARNS New York, New York 10179 EPSTEIN INTERESTS 5 os STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 Transaction Detail accoust numecr [S TAXPAYER NUMBER On File MONEY FUND ACTIVITY LAST STATEMENT — July 25, 2003 DATE MODAY TRANSACTION DESCAIPTION SYMBOUCUSIP QUANTITY PRICE OEBIT AMOUNT CREDIT AMOUNT 07/26/03 OPENINGBALANCE 838,479.79 3 DIVIDEND BEAR STEARNS PRIME MONEY BSMXXx MARKET PORTFOLIO CL Y RECORD 07/31/03 PAY 0 ‘03 08/01) MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00 08/29/03 CLOSINGBALANCE 839,142.50 TOTAL $-662.71 $662.71 f_™ (stop) ****** End of Statement*™***** \/ 027 08/3003;13:45 001 vara EFTA00195132

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 ACCOUNT EXECUTIVE —ZICHERMAN, IRA TELEPHONE VISIT OUR WEBSITE — wwnw.bearstearns.com What's In This Statement Financial Summary .. . 3 Your Portfolio Holdings . . 4 Transaction Detail .....sssssesenens 5D Your Portfolio at a Glance NET CREDIT BALANCE 3,458 MONEY MARKET FUND BALANCE 838,480 —_— BR NET EQUITY LAST STATEMENT 841,206 CHANGE SINCE LAST STATEMENT 732 “This portfolio includes one of mom unpriced securties that are not refected in the Total Value of Securties and the Net Equity This Period. There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. Please report any difference or nomrecaipt of checks or stocks, indicated as delivered to you, % Client Senices at 800-634-1428; or write to Clont Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3659. Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD June 28, 2003 THROUGH ACCOUNT NUMBER sell lcclescdebadlbdlalolalbaldbalalel TAXPAYER NUMBER On File LAST STATEMENT EPSTEIN INTERESTS DTD 12/26/91 JEFFERY E EPSTEIN & MARKL * EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Market Value of Your Portfolio Cash & Er lent $841,938 HE Current market value $888 Last statement's market value This summary is for informational purposes only. It ts not intended as a tax document ‘Ths statemem should be retamed for your records See reverse side for important information. 027 07/26/03;10:03 001 July 25, 2003 dune 27, 2003 EFTA00195133

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2 of 5 STATEMENT BACKER IS PRINTED ON THIS PAGE 07/26/03;10:09 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS EFTA00195134

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 3 of Cash Flow Analysis THIS PERIOD OpeningBalance $3,458.06 Money Fund 731.99 Amount Credited $731.99 Money Fund -731.99 Amount Debited $-731.99 Closing Balance $3,458.06 Cash Balance Summary OFENING. CLOSING Cash 3,458.06 3,458.06 Net Cash Bal. Income Summary ToS PERIOD YEAR TO DATE Dividends 731.99 5,090.86 Credit Balance Int. 0.00 49.78 Total $731.99 Portfolio Composition Cash/Cash Equivalent 841,938 Total $841,938 027 07/26/03;10:03 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD June 28, 2003 THROUGH July 25, 2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT June 27, 2003 Your Portfolio Allocation Cash & Equivalent — 100% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portioiio. vant EFTA00195135

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 405 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE ANNUAL INCOME YELD (%} CASH BALANCE BEAR STEARNS PRIME MONEY BSMXX 838,479.79 1.0000 838,480 7,714 0.9200 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $841,938 $7,714 EQUITIES Equities & Options ACCT NANRKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP Tre QUANTITY PRICE VALUE ANNUAL INCOME YELD [%) BANPAIS SA-SPONSORED ADR BPIBY CASH 20,000 Unpriced REPSTG 6 SER L SHS Total Equities& Options $O $0 TOTAL EQUITIES $0 $0 YOUR TOTAL ESTIMATED ANNUAL INCOME $7,714 YOUR PRICED PORTFOLIOHOLDINGS $841,938 oz? 07/26103;10:09 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT June 28, 2003 July 25, 2003 On File June 27, 2003 EFTA00195136

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS Transaction Detail MONEY FUND ACTIVITY DATE MOVDAY TRANSACTION DESCAIFTION 06/28/03 OPENINGBALANCE 07/01/03 DIVIDEND BEAR STEARNS PRIME MONEY MARKET PORTFOLIO CL ¥ RECORD 06/30/03 PAY 06/30/03 SYMBOUCUSIP 5 os QUANTITY PRICE 837,747.80 BSMXXx OEBIT AMOUNT CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD June 28, 2003 THROUGH July 25, 2003 accoust numecr [S TAXPAYER NUMBER On File LAST STATEMENT June 27, 2003 CAEDIT AMOUNT MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00 838,479.79 $-731.99 $731.99 07/25/03 CLOSINGBALANCE TOTAL f_™ (stop) ****** End of Statement*™***** \/ 027 07/26/03;10:08 001 EFTA00195137

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BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New = New York 10179 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD May 31,2003 ACCOUNT EXECUTIVE = ZICHERMAN, IRA TELEPHONE THROUGH June 27, 2003 VISIT OUR WEBSITE www.bearstearns.com . account xumccr = What’s In This Statement salllsalleslebadlbdlalolalbaldbalall TAXPAYER NUMBER On File EPSTEIN INTERESTS LAST STATEMENT May 30, 2003 Financial Summary . . $8 Your Portfolio Holdings . . 4 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN & MARKL * ee ssvaneaeaeetssnansaeetaseanaesaes : EPSTEIN & WILLIAM ELKUS TTEES UND ACTIVITY. .essesssesessesnessnenssserennanensars 457 MADISON AVENUE 4TH FLR YOUr M@SSAQ@S .....eeeeeseseeennens 5S NEW YORK NY 10022-6843 Your Portfolio at a Glance Market Value of Your Portfolio Important: Message Confirmation: Unless we NET CREDIT BALANCE 3,458 $840,414 contrary. it is our MONEY MARKET FUND BALANCE 837,748 understanding that any free HM Current market value credit balances in your sveeesneeenneeensesssnneennneeennesensesessssaeneeeeneesenesnnacesssssennenennees BEEY Last statements market value account ara being WET EQUITY THIS PERIOD $841,206 maintained to facilitate susessuseennseenssssannenennecennensnsesesssauneeeenecsanseenneesesssenneneneees your Intention $9 invest NET EQUITY LAST STATEMENT 840.414 such amounts through us. CHANGE SINCE LAST STATEMENT 792 “This portfolio indudes one or more unpriced sccurties that are not refected in the Total Value of Securties and the Net Equity This Period There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. Please report any diterence cr nomraceipt of checks of stocks, indicated as delivered to you, ‘This summary is for informational purposes only. It Is not intended as a tax document, % Client Senices at 800-634-1428; cr write to Clont Services at Boar, Steams Securities ‘This statemem should be retained for your records. See reverse side for important information. Corp., One Metrolech Center North, Brooklyn, N.Y. 11201-3859. 02? 06/2803:12:00 001 vaoa EFTA00195138

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2 of 5 STATEMENT BACKER IS PRINTED ON THIS PAGE (06/28/03;12:00 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS vaoa EFTA00195139

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 3 of Cash Flow Analysis THIS PERIOD OpeningBalance $3,458.06 Money Fund 792.26 Amount Credited $792.26 Money Fund -792.26 Amount Debited . . $-792.26 Closing Balance $3,458.06 Cash Balance Summary OFENING. CLOSING Cash 3,458.06 3,458.06 Net Cash Bal. Income Summary ToS PERIOD YEAR TO DATE Dividends 792.26 4,358.87 Credit Balance Int. 0.00 49.78 Total $792.26 Portfolio Composition Cash/Cash Equivalent 841,206 Total $841,206 027 (06/28/03;12:00 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD May 31, 2003 THROUGH June 27, 2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT May 30, 2003 Your Portfolio Allocation Cash & Equivalent — 100% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portioiio. vaos EFTA00195140

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 405 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE ANNUAL INCOME YELD (%} CASH BALANCE BEAR STEARNS PRIME MONEY BSMXX 837,747.80 1.0000 837,748 8,629 1.0300 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $841,206 $8,629 EQUITIES Equities & Options ACCT NANRKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP Tre QUANTITY PRICE VALUE ANNUAL INCOME YELD [%) BANPAIS SA-SPONSORED ADR BPIBY CASH 20,000 Unpriced REPSTG 6 SER L SHS Total Equities& Options $O $0 TOTAL EQUITIES $0 $0 YOUR TOTAL ESTIMATED ANNUAL INCOME $8,629 YOUR PRICED PORTFOLIOHOLDINGS $841,206 oz? 06/28103;12:00 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT vaos May 31, 2003 June 27, 2003 On File May 30, 2003 EFTA00195141

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North BEAR 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 EPSTEIN INTERESTS 5 os STATEMENT PERIOG May 31,2003 THROUGH June 27, 2003 Transaction Detail accout nuvecr TAXPAYER NUMBER On File MONEY FUND ACTIVITY LAST STATEMENT = May 30, 2003 DATE MO'DAY TRANSACTION DESCAIPTION SYMBOUCUSIP QUANTITY PRICE OEBIT AMOUNT (CREDIT AMOUNT 05/31/03 OPENINGBALANCE 836,955.54 MARKET PORTFOLIO CL Y RECORD 05/30/03 PAY 05/30/03 06/02/03 REINVEST BEAR STEARNS PRIME MONEY BSMXX 792.26 792.26 MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00 06/27/03 CLOSINGBALANCE 837,747.80 TOTAL $-792.26 $792.26 Your messages | With interest rates at their lowest in 45 years, income oriented clients are reminded of the risks inherent in attempting to maintain or increase the average yield on a fixed income portfolio. Generally, securities carrying a higher yield come with some combination of added credit risk, extended maturities, reduced liquidity, or special call features. Rising interest rates can cause a decline in the market value of your portfolio, which will impact your principal if securities are sold prior to maturity, Please consult your Bear Stearns account executive if you would like to discuss your fixed income portfolio, As a leader in Fixed Income, Bear Steams can analyze any portfolio, held here or elsewhere and make recommendations such that your portfolio is aligned within your tolerance for risk, 027 (06/28/03;12:00 001 vao8 EFTA00195142

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OFFICE SERVICING YOUR ACCOUNT BEAR STEARNS ACCOUNT EXECUTIVE = ZICHERMAN, IRA TELEPHONE VISIT OUR WEBSITE wew.bearstearns.com What’s In This Statement Financial SUMMALY ssesssssscsssessecasecneniaee Your Portfolio Holdings . Transaction Detail Fund Activity wun Your Portfolio at a Glance NET CREDIT BALANCE MONEY MARKET FUND BALANCE NET EQUITY THIS PERIOD NET EQUITY LAST STATEMENT CHANGE SINCE LAST STATEMENT “This perttolio indudes one or more unpriced securties that are not 836,956 Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 EPSTEIN INTERESTS OTD 12/26/91 JEFFERY E EPSTEIN & MARK L ans w NEW YORK NY 10022-6843 EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR Market Value of Your Portfolio $840,414 3.4se cons tone ee So... HS Current market value S888 Last statements market value 839,593 821 refected in the Total Value of Securties and the Net Equity This Period. There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. Ploase mport any difference cr noe-roceigt of checks or stocks, indicated as delivered to you, © Client Senices at 800-624-1428; of write to Clam Services at Bear, Steams Securitios Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3859. 027 This summary is for informational purposes only. It Is mot intended as a tax document This statement should be retained for your records. See reverse side for important information. 06/31/03;15:20 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOO April 26, 2003 THROUGH May 30, 2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT April 25, 2003 veds EFTA00195143

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2 of 5 STATEMENT BACKER IS PRINTED ON THIS PAGE 06/31/03;15:20 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS veds EFTA00195144

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 3 of Cash Flow Analysis THIS PERIOD OpeningBalance $3,458.06 Money Fund 820.14 Amount Credited $820.14 Money Fund -820.14 Amount Debited $-820.14 Closing Balance $3,458.06 Cash Balance Summary OPENING CLOSING Cash Net Cash Balance Income Summary ToS PERIOD YEAR TO DATE Dividends 820.14 3,566.61 Credit Balance Int. 0.00 49.78 Total $820.14 Portfolio Composition Cash/Cash Equivalent 840,414 Total $840,414 027 06/31/03;15:20 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD April 26,2003 THROUGH May 30, 2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT April 25, 2003 Your Portfolio Allocation Cash & Equivalent — 100% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portiatio. veds EFTA00195145

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 405 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET VALUE ESTIMATED ANNUAL INCOME (QURRENT DESCRIPTION YELD (%} CASH BALANCE BEAR STEARNS PRIME MONEY MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS SYMBOU'CUSIP QUANTITY PRICE 3,458 BSMXX 836,955.54 1.0000 836,956 9,207 1.1001 $840,414 $9,207 EQUITIES Equities & Options oT MARKET QUANTITY PRIEE VALUE 20,000 ESTIMATED ANNUAL INCOME (CURRENT SYMBOL'CUSIP YELD (%} BPIBY DESCRIPTION BANPAIS SA-SPONSOREDADR REPSTG 6 SER L SHS CASH Unpriced Total Equities& Options $0 $0 TOTAL EQUITIES $0 $0 YOUR TOTAL ESTIMATED ANNUAL INCOME $9,207 YOUR PRICED PORTFOLIOHOLDINGS $840,414 027 06/31/03;15:20 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 EPSTEIN INTERESTS STATEMENT PERIOD April 26,2003 May 30, 2003 On File April 25, 2003 THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT Weds EFTA00195146

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. Cre Mewatuch Contr Newt 383 Madison Avenue Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 Le EPSTEIN INTERESTS 5 os STATEMENT PERIOD April 26,2003 THROUGH May 30, 2003 Transaction Detail account wucce | TAXPAYER NUMBER On File MONEY FUND ACTIVITY LAST STATEMENT — April 25, 2003 DATE MODAY TRANSACTION DESCAIPTION SYMBOUCUSIP QUANTITY PRICE OESIT AMOUNT CREDIT AMOUNT 04/26/03 OPENINGBALANCE 836,135.40 BEAR STEARNS PRIME MONEY BSMiKx 820.14 MARKET PORTFOLIO CL ¥ 820-14 05/30/03 CLOSINGBALANCE 836,955.54 TOTAL $-820.14 $820.14 (stop ****** End of Statement****** \/ 027 08/31/03;15:30 001 yeas EFTA00195147

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp. Bear, Stearns & Co. Inc. One Metrotech Center North 383 Madison Avenue Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 | | EPSTEIN INTERESTS ACCOUNT EXECUTIVE ZICHERMAN, IRA STATEMENT PERIOD March 29, 2003 TevePHonc + THROUGH April 25,2003 VISIT OUR WEBSITE wow.bearstearns.com account numccr = What’s In This Statement seal Dccldesccdebddlbedlalolalbaldbalalel TAXPAYER NUMBER On File EPSTEIN INTERESTS LAST STATEMENT March 28, 2003 Financial Summary , . 3 Your Portfolio Holdings . . 4 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN& MARKL * ansastio ceermmmmnnnnnnnnas 8 EPSTEIN & WILLIAM ELKUS TIES UNG ACTIVITY sssvasssesseseseaeanssesesnatanessatians 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Your Portfolio at a Glance Market Value of Your Portfolio 593 MONEY MARKET FUND BALANCE 836,135 HB Current market value nae nn BSS GN Lest ststoments matet vehe NET EQUITY LAST STATEMENT 938,664 CHANGE SINCE LAST STATEMENT -99,071 “This porticlio includes one or mom unericed securties that are not reflected in the Total Value of Securties sand the Net Equity This Period. There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. Please report any diference or nomreceipt of checks of stocks, indicated as delivered to you, ‘This summary §s for informational purposes only. It Is not intended as a tax document, % Client Senices at 800-634-1428; cr write to Clont Services at Boar, Steams Securities ‘This statemem should be retained for your records. See reverse side for important information. Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3869. 027 04/26103:12:12 001 veda EFTA00195148

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2 of 6 STATEMENT BACKER IS PRINTED ON THIS PAGE (04/26/03;12:12 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS v643 EFTA00195149

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 3 of6 Cash Flow Analysis THIS PERIOD OpeningBalance $23.452.20 Money Fund 80,923.27 Dividends/Interest 5.86 Amount Cr ited $80,929.13 Money Fund -923.27 Funds Withdrawn -100,000.00 Amount Debited _cescon isssssissrsrernsinmetea one iae Net Cash Activity -19,994.14 Cash Balance Summary OPENING CLOSING Cash 23,452.20 3,458.06 Net Cash Balance $23,452.20 $3,458.06 Income Summary THIS PERIOD YEAR TO DATE Dividends 923.27 2,746.47 Credit Balance Int. 5.86 Total $929.13 een Sete Oe? Portfolio Composition Cash/Cash Equivalent 839,593 027 (04/26/03;12:12 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD March 29, 2003 THROUGH April 25, 2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT March 28, 2003 Your Portfolio Allocation Cash & Equivalent — 100% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portiatio. v643 EFTA00195150

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 4 of6 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET VALUE ESTIMATED ANNUAL INCOME (QURRENT DESCRIPTION YELD (%} CASH BALANCE BEAR STEARNS PRIME MONEY MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS SYMBOU'CUSIP QUANTITY PRICE 3,458 BSMXX 836,135.40 1.0000 836,135 9448 1.1300 $839,593 $9.448 EQUITIES Equities & Options oT MARKET QUANTITY PRIEE VALUE 20,000 ESTIMATED ANNUAL INCOME (CURRENT SYMBOL'CUSIP YELD (%} BPIBY DESCRIPTION BANPAIS SA-SPONSOREDADR REPSTG 6 SER L SHS CASH Unpriced Total Equities& Options $0 $0 TOTAL EQUITIES $0 $0 YOUR TOTAL ESTIMATED ANNUAL INCOME $9.448 YOUR PRICED PORTFOLIOHOLDINGS $839,593 027 (04/26/03;12:12 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 EPSTEIN INTERESTS STATEMENT PERIOD March 29, 2003 April 25,2003 accoust numecr [S TAXPAYER NUMBER On File THROUGH LAST STATEMENT March 28, 2003 v643 EFTA00195151

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp. Bear, Stearns & Co. Inc. One Metratech Center North 383 Madison Avenue Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 | | EPSTEIN INTERESTS 5 of 6 STATEMENT PERIOD March 29, 2003 THROUGH April 25, 2003 Transaction Detail accoust numecr [S TAXPAYER NUMBER On File DEPOSITS AND WITHDRAWALS LAST STATEMENT March 28, 2003 DATE TRANSACTION DESCRETION DEBIT AMOUNT CREDIT AMOUNT 04/02/03 FND WIRED IRED TO §0.000.00 FD#05491 ‘UND 04/22/03 FND WIRED NDS WIRED TO 50,000.00 F#304094 TOTAL $-100,000.00 MONEY FUND ACTIVITY DATE MODAY TRANSACTION DESCRIPTION SYMBOUCUSIF QUANTITY PRICE OEBIT AMOUNT (CREDIT AMOUNT 03/29/03 OPENINGBALANCE | HP gee STR eer earner tings penne setnneneeeensgneeennnnnee i ennnnseeannn sr aneennnnnee semua, MARKET PORTFOLIO CL Y (03 PAY 03/31/03 BS INVES Al a MARKET PORTFOLIO CL ¥ REINVEST PRICE $ 1,00 "30,600" T6G60 30,600.60 o4i0z0s" SOLD BEAR STEARNS PRIME MONEY ixaRe? HMOs AS 04/25/03 CLOSINGBALANCE 836,135.40 TOTAL $-923.27 $80,923.27 02? 04/2603;12:12 001 643 EFTA00195152

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BEAR STEARNS 6 of6 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 Transaction Detail (continued) CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 EPSTEIN INTERESTS STATEMENT PERIOD March 29, 2003 THROUGH April 25, 2003 accoust numecr [S TAXPAYER NUMBER On File INTEREST LAST STATEMENT March 28, 2003 DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE [%) DEBIT AMOUNT CREDIT AMOUNT 04/21/03 INTEREST ONCREDIT BALANCE 0.7500 5.86 AT 0 3/4% 03/21 THRU 04/20 TOTAL $5.86 f-™ [stop] ***+* Endof Statement"***** 02? 04/26103;12:12 001 veda EFTA00195153

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OFFICE SERVICING YOUR ACCOUNT BEAR STEARNS ACCOUNT EXECUTIVE = ZICHERMAN, IRA TELEPHONE VISIT OUR WEBSITE What’s In This Statement wow.bearstearns.com Financial Summary , : Your Portfolio Holdings . . Transaction Detail ......s.ssssessseresseeerees Fund Activity y.ssssssserssssrsvecssnesecnsveseseensens YOUr M@SSAQES o....seesesseeessseeseeseeceeensens oaunw w Your Portfolio at a Glance NET CREDIT BALANCE 23,452 MONEY MARKET FUND BALANCE 75 NET EQUITY THIS PERIOD $938,664 NET EQUITY LAST STATEMENT 937,799 CHANGE SINCE LAST STATEMENT 866 “This portfolio includes one of mom unpriced securties that are not refected in the Total Value of Securties and the Net Equity This Period. There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. Please report any difference or nomreceipt of checks or stocks, indicated as deltverad to you, % Client Senices at 800-634-1428; or write to Clont Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3859. Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 EPSTEIN INTERESTS DTD 12/26/91 JEFFERY E EPSTEIN & MARKL * EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Market Value of Your Portfolio HB Current market value SG88 Last statement's market value This summary is for informational purposes only. It ts not intended as a tax document ‘Ths statemem should be retamed for your records See reverse side for important information. 027 (04/2903;11:19 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD March 1, 2003 THROUGH March 28, 2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT February 28,2003 W642 EFTA00195154

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2 of 6 STATEMENT BACKER IS PRINTED ON THIS PAGE (04/2903;11:19 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS W642 EFTA00195155

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 3 of6 Cash Flow Analysis THIS PERIOD OpeningBalance $23.438.53 Money Fund 852.40 Dividends/Interest 13.67 Amount Cr ited Money Fund Amount Debited Net Cash Activity 13.67 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCRIPTION SYMBOUCUSIP QUANTITY CASH BALANCE Cash Balance Summary OPENING CLOSING Cash 23,438.53 23,452.20 Net Cash Balance $23,438.53 $23,452.20 Income Summary THIS PERIOD YEAR TO DATE Dividends 852.40 1,823.20 Credit Balance Int. 13.67 Total $066.07 een SBT 1? Portfolio Composition Cash/Cash Equivalent 938,664 NAARKET ESTIMATED == CURRENT PRICE VALUE ANNUAL INCOME YELD (%} 23,452 027 (04/2903;11:19 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD March 1, 2003 THROUGH March 28, 2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT February 28, 2003 Your Portfolio Allocation Cash & Equivalent — 100% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portiatio. W642 EFTA00195156

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North BEAR 383 Madison Avenue Brocklyn, New York 11201-2859 STEARNS New York. New York 10179 as Le EPSTEIN INTERESTS 4 of6 STATEMENT PERIOD March 1, 2003 THROUGH March 28, 2003 Your Portfolio Holdings (continued) ree TAXPAYER NUMBER On File CASH & CASH EQUIVALENTS (continued) LAST STATEMENT —- February 28, 2003 MANRKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP QUANTITY PRICE VALUE ANNUAL INCOME _YELD (') BEAR STEARNS PRIME MONEY BSMXX 915, 1.0000 915. 10,708 1.1700 MARKET PORTFOLIO CL Y DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $938,664 $10,708 EQUITIES Equities & Options AGCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOLICUSIP TYPE QUANTITY PRICE VALUE _ ANNUAL INCOME YIELD (%) BANPAIS SA-SPONSOREDADR BPIBY CASH 20,000 Unpriced REPSTG 6 SER L SHS Total Equities& Options $0 $0 TOTAL EQUITIES $0 $0 YOUR TOTAL ESTIMATED ANNUAL INCOME $10,708 YOUR PRICED PORTFOLIOHOLDINGS $938,664 oz? 0a/29103;11:19 001 we42 EFTA00195157

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp, Bear, Stearns & Co. Inc. One Metratech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 EPSTEIN INTERESTS 5 of6 STATEMENT PERIOD March 1,2003 THROUGH March 28, 2003 Transaction Detail account wucce | TAXPAYER NUMBER On File MONEY FUND ACTIVITY LAST STATEMENT —- February 28, 2003 DATE MONDAY TRANSACTION DESCAIFTION SYMBOUOUSIF QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 03/01/03 OPENINGBALANCE 914,359.73 uy RECORD 02/28/03 PAY 02/28/03 03/03/03 REINVEST BEAR STEARNS PRIME MONEY BSMiKx 852.40 852.40 MARKET PORTFOLIO CL ¥ 03/28/03 CLOSINGBALANGE 015 i” TOTAL $-852.40 $852.40 INTEREST DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) CEBIT AMOUNT CAEDIT AMOUNT 03/21/03 INTEREST ON CREDIT BALANCE 0.7500 13.67 AT 0 314% 02/21 THRU 03/20 TOTAL $13.67 o27 04/2903;11:19 001 W642 EFTA00195158

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New = New York 10179 6 of6 Your messages ‘i Bear, Stearns Securities Corp, Net Capital and Net Capital Requirements: At November 30, 2002 and January 31, 2003, the Company's net capital of approximately $2.4 billion and $2.4 billion was approximately 7% and 7% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately $716.3 million and $684.1 million by approximately $1.7 billion and $1.7 billion, all respectively. A complete copy of the Bear, Stearns Securities Corp, Statement of Financial Condition is available on the web site www.bearstearns.com_. Alternatively, to request a free printed copy please call - toll free - 1-866-299-9331, **e*** End of Statement™***** CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOO March 1, 2003 THROUGH March 28, 2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT February 28, 2003 ZT Pursuant to SEC Rule 11Ac1-6, please note the following: Bear Stearns & Co, Inc, will post its quarterly routing statistics at the following web link: http://Wwww,bearstearns com’, Customers of Bear, Stearns & Co, Inc, may request information on any order executed within the prior six months from the time of the request, Specifically, you may request the identity of the venue to which the identified orders were routed for execution, whether the order was directed by you to that venue, and the time of the executions, if any, that resulted from such orders, 027 (04/2903;11:19 001 V642 EFTA00195159

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns Securities Corp. Bear, Stearns & Co. Inc. One Metrotech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York. New York 10179 Pe a EPSTEIN INTERESTS ACCOUNT EXECUTIVE —ZICHERMAN, IRA STATEMENT PERIOO February 1, 2003 TevepHonc |= THROUGH February 28,2003 VISIT OUR WEBSITE wow.bearstearns.com account numccr = What’s In This Statement seallDccaleslebadlbdlalslalbaldbalall TAXPAYER NUMBER On File EPSTEIN INTERESTS LAST STATEMENT — January 31, 2003 Financial SUMMALY sass So Your Portfolio Holdings . 3 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN& MARKL * Fund Activity 5 EPSTEIN & WILLIAM ELKUS TTEES “—“—_ 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Your Portfolio at a Glance Market Value of Your Portfolio MONEY MARKET FUND BALANCE 914,360 Current market value ST HEE] Last staternent’s t value NET EQUITY LAST STATEMENT 936,812 CHANGE SINCE LAST STATEMENT 986 “This portfolio includes one of mom ungriced securties that are not reflected in the Total Value of Securties sand the Net Equity This Period. There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. Please report any diference or nomreceipt of checks or stocks, indicated as delivered to you, ‘This summary is for informational purposes only. It Is not intended as a tax document, % Client Senices at 800-634-1428; cr write to Clont Services at Bear, Steams Securities ‘This statemem should be retained for your records. See reverse side for important information. Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3869. 027 03/01/03:13:32 001 vest EFTA00195160

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2 of 5 STATEMENT BACKER IS PRINTED ON THIS PAGE 0301/03;13:32 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS EFTA00195161

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. Bout, Sreame Gecurtieg Ou BEAR 383 Madison Avenue Brockiyn, New York 11201-2859 STEARNS New York. New York 10179 EPSTEIN INTERESTS 3 of 5 . STATEMENT PERIOD February 1,2003 THROUGH February 28, 2003 . ACCOUNT NUMBER fs Cash Flow Analysis Cash Balance Summary TAXPAYER NUMBER On File THIS PERIOD ENING CLOSING LAST STATEMENT January 31, 2003 OpeningBalance $23,423.40 Cash 23,423.40 23,438.53 Money Fund 970.80 Dividends/Interest 15.13 s04 eeeneeeceeceessesensesses seeseeseuscuseeceuces cess ont Net Cash Balance $23,423.40 $23,438.53 Amount Cr ited $985.93 Money Fund -970.80 Income Summary Amount Debited srssnssnsenensessesrssssesneene te eos Dividends 970.80 970.80 Net Cash Activity 15.13 Credit Balance Int. 15.13 Total $985 93 nese 8 12001,05 . age Your Portfolio Portfolio Composition Allocation Cash/Cash Equivalent 937,799 Your Portfolio Holdings CASH & CASH EQUIVALENTS MAABKET ESTIMATED — CURRENT DESCRIPTION SYMBOUCUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD [‘%} Cash & Equivalent— CASH BALANCE 23,439 100% Unshaded portions denote debt batance andicr short market values. The alocation percentage is derived from the absohte market value of your portloio, 027 03/01/03;13:32 001 vest EFTA00195162

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS of § = Your Portfolio Holdings (continued) CASH & CASH EQUIVALENTS (continued) NAARKET ESTIMATED (QURRENT CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOO February 1, 2003 February 28, 2003 accout nuvecr TAXPAYER NUMBER On File January 31, 2003 THROUGH LAST STATEMENT DESCRIPTION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME —_YELD (14) BEAR STEARNS PRIME MONEY BSMXX 914,359.73 1.0000 914,360 11,064 1.2100 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $937,799 $11,064 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOLICUSIP TYPE QUANTITY PRKE VALUE _ ANNUAL INCOME YELD [X) BANPAIS SA-SPONSOREDADR BPIBY CASH 20,000 Unpriced REPSTG 6 SER L SHS Total Equities& Options $0 $0 TOTAL EQUITIES $0 $0 YOUR TOTAL ESTIMATED ANNUAL INCOME $11,064 YOUR PRICED PORTFOLIOHOLDINGS $937,799 02? 03901/03;13:32 001 vest EFTA00195163

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. One Mevotech Contr North BEAR 383 Madison Avenue Brocklyn, New York 11201-2859 STEARNS New York, New York 10179 EPSTEIN INTERESTS 5 os STATEMENT PERIOO February 1, 2003 THROUGH February 28, 2003 Transaction Detail accoust numecr [S TAXPAYER NUMBER On File MONEY FUND ACTIVITY LAST STATEMENT — January 31, 2003 DATE MODAY TRANSACTION DESCAIPTION SYMBOUCUSIP QUANTITY PRICE OEBIT AMOUNT CREDIT AMOUNT 02/01/03 OPENINGBALANCE 913,388.93 D MARKET PORTFOLIO CL Y 02/28/03 CLOSINGBALANCE 914,359.73 TOTAL $-970.80 $970.80 INTEREST DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE (%} DEBIT AMOUNT CAEDIT AMOUNT 02/21/03 INTEREST ONCREDIT BALANCE 0.7500 15.13 AT 0 3/4% 01/21 THRU 02/20 TOTAL $15.13 f_™ ya sop] ****** End of Statement****** A —/ 027 0301/03;13:32 001 vest EFTA00195164

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OFFICE SERVICING YOUR ACCOUNT BEAR STEARNS ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE www.bearstearns.com What’s In This Statement Financial Summary Your Portfolio Holdings . Transaction Detail ......ssssssessseresseeerees Fund Activity ssscsssssscssesssasssnsceseoneneseessane YOUr M@SSAQES .....seesesseeessseeseeseeeceeensens oauunw wo Your Portfolio at a Glance 23,423 913,389 NET CREDIT BALANCE MONEY MARKET FUND BALANCE NET EQUITY LAST STATEMENT 935,778 CHANGE SINCE LAST STATEMENT 1,034 "This perticlio includes one of mom unpriced securties that are not reflected in the Total Value of Securties and the Net Equity This Period There are no "Stop Loss’ orders or other pending buy or sell open orders on file for your account. Ploase moport any diference or nceroceipt of checks of stocks, indicated as delivered to you, % Client Senices at 800-634-1428; or write to Clont Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3659. Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 EPSTEIN INTERESTS OTD 12/26/91 JEFFERY E EPSTEIN & i * 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Market Value of Your Portfolio Ho Current market value {Last statement's market value 027 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOO January 1, 2003 January 31, 2003 accout nuvecr TAXPAYER NUMBER On File December 31, 2002 THROUGH LAST STATEMENT $936,812 $935,778 This summary Is for informational purposes only. It Is not intended as a tax document This statement should be retained for your records. See reverse side for important information 02/01/03;15:36 001 vé40 EFTA00195165

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2 of 6 STATEMENT BACKER IS PRINTED ON THIS PAGE 0201/03;15:36 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS EFTA00195166

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 3 of6 Cash Flow Analysis Cash Balance Summary THIS PERIOD OPENING CLOSING OpeningBalance $23,408.28 Cash 23,408.28 23,423.40 Money Fund 1,018.73 Dividends/Interest 15.12 s4sensesensnsusensesenenssssauneusensesensnausensssss on Net Cash Balance $23,408.28 $23,423.40 Amount Cr ited $1,033.85 Money Fund “1,018.73 Income Summary evcssseces seesies s | pevesssesssecsseessesn | jevesessessseesssossoessis sees eee TS PERO EAR TO DATE Amount Debited $-1,018.73 Credit Balance Int. 15.12 15.12 Total $15.12 $15.12 Net Cash Activity Portfolio Composition Cash/Cash Equivalent 936,812 Your Portfolio Holdings CASH & CASH EQUIVALENTS MAABKET ESTIMATED — CURRENT DESCRIPTION SYMBOUCUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD [‘%} CASH BALANCE 23,423 027 0201/03;15:36 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD January 1, 2003 THROUGH January 31, 2003 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT December 31, 2002 Your Portfolio Allocation Cash & Equivalent— 100% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portiatio. vé40 EFTA00195167

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS of 6 = Your Portfolio Holdings (continued) CASH & CASH EQUIVALENTS (continued) NAARKET ESTIMATED (QURRENT CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOO January 1, 2003 January 31, 2003 accout nuvecr TAXPAYER NUMBER On File THROUGH LAST STATEMENT December 31, 2002 DESCRIPTION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME —_YELD (14) BEAR STEARNS PRIME MONEY BSMXX 913,388.93 1.0000 913,389 11,235 1.2300 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $936,812 $11,235 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOLICUSIP TYPE QUANTITY PRKE VALUE _ ANNUAL INCOME YELD [X) BANPAIS SA-SPONSOREDADR BPIBY CASH 20,000 Unpriced REPSTG 6 SER L SHS Total Equities& Options $0 $0 TOTAL EQUITIES $0 $0 YOUR TOTAL ESTIMATED ANNUAL INCOME $11,235 YOUR PRICED PORTFOLIOHOLDINGS $936,812 02? 02101/03;18:36 001 veso EFTA00195168

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 5 of6 Transaction Detail MONEY FUND ACTIVITY DATE MOVDAY TRANSACTION DESCAIFTION SYMBOUCUSIF 01/01/03 OPENINGBALANCE cat REINVEST PRICE $ 1,00 BEAR STEARNS PRIME MONEY MARKET PORTFOLIO CL Y RECORD 12/31/02 PAY 12/31/02 INCLUDED IN 2002 1099 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD January 1, 2003 January 31, 2003 accout nuvecr TAXPAYER NUMBER On File THROUGH LAST STATEMENT December 31, 2002 QUANTITY 912.370.20 PRICE OEBIT AMOUNT CAEDIT AMOUNT 18. 01/31/03 CLOSINGBALANCE 913,388.93 TOTAL $-1,018.73 $1,018.73 INTEREST DATE DESCRIPTION SYMBOUUSIF QUANTITY RATE (%) DEBIT AMOUNT CREDIT AMOUNT 01/21/03 INTEREST ONCREDIT BALANCE 0.7500 4.88 AT 0 3/4% 12/21 THRU 12/30 AT 0 3/4% 12/31 THRU 01/20 TOTAL $15.12 02101/03;18:36 001 vé40 EFTA00195169

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 6 of6 Your messages LZ The interest, if any, charged to your account during December 2002 was computed on the net debit balance through December 30, The interest, if any, charged to your account during January 2003 is computed from December 31, 2002, (stor ****** End of Statement™***** A \ —— 027 02101/03;18:36 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 EPSTEIN INTERESTS STATEMENT PERIOD January 1, 2003 THROUGH January 31, 2003 account nuvecr TAXPAYER NUMBER On File LAST STATEMENT December 31, 2002 vé40 EFTA00195170