Statements EFTA00195499

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. ne Metratech Center North BEAR 383 Madison Avenue Brocklyn, New York 11201-2859 STEARNS New York. New York 10179 | | FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSITE ww.bearstearns.com What’s In This Statement Financial Summary , » 3 Transaction Detail . 4 YOUr M@SSAQES ..... cesses 8 Your Portfolio at a Glance NET EQUITY THIS PERIOD 0 NET EQUITY LAST STATEMENT ~33,514 CHANGE SINCE LAST STATEMENT 33,514 There are no "Stop Loss’ orders or other pending buy or sell open orders on file for your account. Bear, Stearns Securities Corp. STATEMENT PERIOD February 28,2004 THROUGH March 31,2004 account xumccr = || PP | ery end ete TAXPAYER NUMBER On File LAST STATEMENT February 27,2004 FINANCIAL TRUST CO INC C/O JEFFREY EPSTEIN 6100 RED HOOK QUARTER STE B3 ST THOMAS Vi 00802 Market Value of Your Portfolio 1} can et $9 rrr (BY Last statements market value (] Short market value This summary is for informational purposes only. It Is not intended as a tax document ‘Ths statemem should be retained for your records See reverse side for important information. oz? 04/01/04;12:31 001 waza EFTA00195500

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2 of8 STATEMENT BACKER IS PRINTED ON THIS PAGE 04/01/04;12:31 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC vaza EFTA00195501

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR STEARNS 3 of8 383 Madison Avenue Cash Flow Analysis THIS PERIOD OpeningBalance $-33,513.55 Securities Sold 181,187,137.82 Dividends/Interest 62,475.48 Miscellaneous 30,926,395.39 Amount Credited Securities Bought -151,473,254.55 Dividends/Interest Charged -87,255.26 Miscellaneous -60,581,985.33 Anuar Det a sascasssssnnnseer sue Net Cash Activity 33,513.55 Cash Balance Summary OPENING CLOSING Margin -33,513.55 0.00 Net Cash Balance $-33,513.55 $0.00 New York, New York 10179 Income Summary ToS PERIOD YEAR TO DATE U.S. Govt. Bond Int. 62,470.90 332,686.10 Credit Balance Int. 4.59 4.59 Reverse Repurchase Int. 16,825.29 62,385.28 | Ls ht Bond Purchase Int. -87,250.66 -327,100.48 Margin Int. Paid 4.59 4.59 Repurchase Int. Exp. -26,379.55 -59,000.08 oz? 04/01104;12:31 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD February 28,2004 THROUGH March 31, 2004 accout Nuecr TAXPAYER NUMBER On File LAST STATEMENT February 27,2004 vaz3 EFTA00195502

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT . Bear, 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 fl FINANCIAL TRUST CO INC 4 o8 STATEMENT PERIOD February 28,2004 THROUGH March 31,2004 Transaction Detail account numccr = TAXPAYER NUMBER On File INVESTMENT ACTIVITY LAST STATEMENT —- February 27, 2004 SETTLEMENT TRADE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT UNITED STATES TREASURY NOTE -10,000,000 99.87500 wat 01.625% FA 28 ACCR. INT. 441.58 A URITY GVER REF # Al -50,000,000 99.87500 49,937,500.00 ACCR. INT. 2,207.88 03/01/04 02/26/04 SOLD UNITED STATES TREASURY NOTE 01.625% FA 28 A URITY GVER REF # B1 QUE 02/28/2006 1,625 2 JO6 10,000,000 101.57813 10,157,812.50 ACCR. INT. 19,780.22 UNITED STATES TREASURY NOTE f 03,000% FA 15 . URITY GVER REF # Al BOUGHT UNITED STATES TREASURY NOTE 03,000% FA 15 . URITY GVER REF # Ag BOUGHT ACCR. INT. 19,780.22 ACCR. INT. 7,948.37 wea 01.625% FA 28 F URITY GVER REF # Al | | ae et 10,000,000 101.60938 10,160,937.50 a | 50,000,000 100.29688 50,148,437.50 01,625% FA 28 ACCR. INT. 39,741.85 r URITY GVER REF # Bt UNITED STATES TREASURY NOTE BOUGHT 027 O4/01/04;12:31 001 vaza EFTA00195503

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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 Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 fl Le FINANCIAL TRUST CO INC 5 of@ STATEMENT PERIOD February 28,2004 THROUGH March 31,2004 Transaction Detail (continued) account numccr = TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT February 27, 2004 SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT GREDIT AMOUNT 03/18/04 DELIVERED UNITED STATES TREASURY NOTE -60,000,000 60,150,000.00 met oe! 8008 0 .! 625 TERM Ri CEMENT 03.250% ACCR. INT. 59,821.43 GVER REF # UNITED STATES TREASURY Nore sSSCMC'G30G'G DUE 01/15/2009 03,250% JJ 15 ACCR. INT. SPECIAL INS GVER REF # AS OF 03/25! UNITED STATES TREASURY NOTE DUE 02/15/2009 03,000% FA 15 SPECIAL INS GVER REF # he 20.505°c00 0.01 TOTAL $-140,734,125.66 $130,382,783.41 INTEREST DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE (%) DEBIT AMOUNT CREDIT AMOUNT 03/01/04 AVGBAL 3,590RT 1.644 4.59 oT 027 04/01/04;12:31 001 vaza EFTA00195504

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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 Brooklyn, New York 11201-3859 STEARNS —— 10179 6 of8 FINANCIAL TRUST CO INC STATEMENT PERIOD February 28,2004 THROUGH March 31,2004 Transaction Detail (continued) account numccr (S TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS LAST STATEMENT February 27,2004 with Bear,Stearns& Co. Inc. SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOUCUSIP QUANTITY DEBIT AMOUNT CREDIT AMOUNT 03/10/04 JOURNAL UNITED STATES TREASURY NOTE -20,000,000 20,300,000.00 FITG = FO7O0679 Al 3,000 DUE 02/15/09 REPO AGREEMENT 03/11/04 JOURNAL UNITED STATES TREASURY NOTE FIG FO700679 A2 3,000 DUE 02/15/09 TERM REPO AGREEMENT 20,000,000 20,300,000.00 03/11/04 JOURNAL UNITED. REASURY NOTE FITG Al 3,000 /15/09 REPO AGREEMENT “20,000,000 20,300,000.00 03/11/04 INTEREST UNITED STATES TREASURY NOTE 112.78 DUE 02/15/2009 3,000 FTG FO7O0679 A2 REPO INTEREST oaiaio4 INTEREST UNITED STATES TREASURY NOTE DUE 02,258 1,625 A2 03/22/04 JOURNAL a ho NOTE ; 10,000,000 40,250,000.00 16/825.39 FTG. AI 3.250 ms08 REPO AGREEMENT JOURNAL UNITED. REASURY NOTE ys A2 3,2! 15/09 TERM REPO AGREEMENT 03/22/04 INTEREST UNITED STATES TREASURY NOTE a 23,405.33 027 04/01/04;12:31 001 vaza EFTA00195505

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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 _—€€ 10179 7 of6 FINANCIAL TRUST CO INC STATEMENT PERIOD February 28.2004 THROUGH March 31,2004 Transaction Detail (continued) account numccr (S TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT = February 27,2004 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRETION SYMBOLOUSIP QUANTITY DEBIT AMOUNT CREDIT AMOUNT 03/26/04 JOURNAL UNITED STATES TREASURY NOTE | 20,000,000 20,300,000.00 FITG A2 3,000 TS'09 TERM REPO AGREEMENT 03/26/04 INTEREST UNITED STATES TREASURY NOTE 837.08 DUE 01,155 3.250 FITG A2 REPO II 03/26/04 INTEREST UNITED STATES TREASURY NOTE 2,024.36 DUE 02)155 3,000 FITG A2 REPO II TOTAL $-70,976.379.55 $50,866,825.29 MISCELLANEOUS MorDAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 03/01/04 JOURNAL FITG FITM 33,513.00 o3i02i04 JOURNAL FITG FITM 222,355.00 JOURNAL FITG FITM 03/12/04 JOURNAL FITG FITM 113.00 JOURNAL FITG FITM 226.00 JOURNAL FITG FITM 58,990.00 JOURNAL FITG TO FITM Qe ues JOURNAL MISC ADJ TO CASH BAL 0.36 027 0401/04;12:31 001 vaz3 EFTA00195506

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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 | | FINANCIAL TRUST CO ING 8 of8 STATEMENT PERIOD February 28,2004 THROUGH March 31,2004 Transaction Detail (continued) ow TAXPAYER NUMBER On File MISCELLANEOUS (continued) LAST STATEMENT —- February 27, 2004 DATE MODAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 03/26/04 RECEIVED FITG 140.97 UPON 3,0000. FINANCING NET PAIROFF DIFF e577 a oT 711 775-1 TOTAL $-431,985.33 $30,926,395.39 Your messages ‘i Excess SIPC Account Protection Update ZT The Firm believes it is of the utmost importance that clients who purchase or Effective February 16, 2004, the commercial insurer through which Bear, hold mutual funds fully understand the intricacies of the pricing structures and Steams Securities Corp, obtains excess SIPC protection changed to Customer rules which govern these investments, Recently, a joint Industry/NASD Task Asset Protection Company ("CAPCO"), a New York licensed insurance Force collaborated to create a Disclosure Statement to address these issues, company, CAPCO has an A+ financial strength rating from Standard and We are providing this Disclosure Statement to you for the purpose of Poor's, reinforcing these concepts and to initiate the opportunity for further discussion of these issues to the extent you have questions, You are encouraged to contact your financial professional with any questions you have regarding your investments, Additionally, you may review this information online at the following NASD web site: http://www,nasdr,com/breakpoints_statement,asp ****** End of Statement™***** 027 04/01/04;12:31 001 vaz3 EFTA00195507

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. One Metratech Center North BEAR 383 Madison Avenue Brocklyn, New York 11201-2859 STEARNS New York. New York 10179 fl | FINANCIAL TRUST CO INC STATEMENT PERIOO January 31,2004 THROUGH February 27,2004 ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSITE ww.bearstearns.com What’s In This Statement Financial SUMMALY sscsssssscessessnecasecneniaee Your Portfolio Holdings . Transaction Detail ... Trades Not Yet Settled YOUr M@SSAQES .....seesssseessseesseseesecensens Your Portfolio at a Glance NET DEBIT BALANCE -33,514 wer Coun vias pono "nme NET EQUITY LAST STATEMENT CHANGE SINCE LAST STATEMENT -33,514 There are no "Stop Loss’ orders or other pending buy or sell open orders on file for your account. on ust © Bear, Stearns Securities Corp. accout nuvecr | PP | ery en eee TAXPAYER NUMBER On File LAST STATEMENT January 30, 2004 FINANCIAL TRUST CO INC C/O JEFFREY EPSTEIN 6100 RED HOOK QUARTER STE B3 ST THOMAS Vi 00802 Market Value of Your Portfolio Cash & Equivalent i $-33,514 (BY Last statements market value (] Short 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 mformation. 027 02/2804;11:32 001 va28 EFTA00195508

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2 of8 STATEMENT BACKER IS PRINTED ON THIS PAGE 2/2804;11:32 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC vaza EFTA00195509

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR STEARNS 3 of8 383 Madison Avenue Cash Flow Analysis THIS PERIOD OpeningBalance $0.28 Securities Sold 180,922,421.92 Dividends/Interest 12,362.64 Amount Cr ited $180,934,784.56 Securities Bought -120,464,062.50 Dividends/Interest Charged -191,620.89 Miscellaneous -60,312,615.00 Amount Debited $-180.968,298.39 Net Cash Activity -33,513.83 Cash Balance Summary OPENING CLOSING Margin 0.28 -33,513.55 Net Cash Balance $0.28 $-33,513.55 New York, New York 10179 Income Summary Tos PERIOD YEAR TO DATE U.S. Govt. Bond Int. 12,362.64 270,215.20 Reverse Repurchase Int. 36,484.42 45,559.99 Total $48,847.06 $315,775.19 Bond Purchase Int. -191,620.89 -239,849.82 Repurchase Int. Exp. 0.00 32,620.53 Portfolio Composition SHORT LONG Cash/Cash Equivalent 33,514 027 02/2804;11:32 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD January 31,2004 THROUGH February 27,2004 accout Nuecr TAXPAYER NUMBER On File LAST STATEMENT January 30, 2004 Your Portfolio Allocation Short Cash & Equivalent — 100% Unshaded portions denote debt batance andicr short market values. The alocation percentage is derived from the absohte market value of your portloio, vaza EFTA00195510

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 | Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCRETION SYMBOLICUSIP QUANTITY CASH BALANCE CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST CO INC STATEMENT PERIOD January 31,2004 THROUGH February 27,2004 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT January 30, 2004 TOTAL CASH & CASH EQUIVALENTS YOUR PRICED PORTFOLIOHOLDINGS Repurchase and Reverse Repurchase Transactions with Bear, Stearnsand Co. Inc. outstanding as of date of statement PURCHASE, REPURCHASE PRICING PURCHASE PRICEY START DATE DATE RATE PRINCIPAL YOU SOLD 01/26/04 OPEN -20,100,000 TOTAL REVERSE REPURCHASE TRANSACTIONS $0 TOTAL REPURCHASE TRANSACTIONS $-20,100,000 -12,702 NAABKET ESTIMATED — CURRENT PRICE VALUE ANNUAL INCOME —_YELD (%} -33,514 $-33,514 $-33,514 ACCAUED REPO QUANTITY WNTEREST* (FACE AMOUNT) cusP DESCRIPTION USTR 3.2500 01/15/09 -20,000,000 $0 $-12,702 "As of statement date 027 02/2804;11:32 001 vaza EFTA00195511

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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 mm | FINANCIAL TRUST CO INC 5 of6 STATEMENT PERIOO January 31,2004 THROUGH February 27,2004 Transaction Detail account numccr = TAXPAYER NUMBER On File INVESTMENT ACTIVITY LAST STATEMENT — January 30, 2004 SETTLEMENT TRADE DATE OATE CREDIT AMOUNT DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT UNITED STATES TREASURY NOTE -10,000,000 100.22656 man 01,875% JJ 31 ACCR. INT. 2,060.44 TRANSACTION TREASURY NOTE “50,000,000 100.22656 50,113,281.25 01,875% JJ 31 URITY BS UNITED STATES ACCR. INT. 10,302.20 18,028.85 ACCR. INT. TREASURY NOTE 01,875% JD 30 BOUGHT UNITED STATES ACCR. INT. 90,144.23 60,000,000 60,300,000.00 oz/04i04 RECEIVED UNITED STATES TREASURY NOTE DUE 01/31/2006 1,875 1,875 LOG FITG Al RESALE T DUE 12/31/2005 ‘1,875 1 $31) B75 05 FiTG A4 TERM Rl EEMENT Pe Pe a S5.600%000 40032034 50.160.156 25 Pe aay ae BOUGHT UNITED STATES TREASURY NOTE 10,000,000 100.45313 10,045,312.50 —_ 01,875% JJ 31 ACCR. INT. 13,907.97 ‘ URITY GVER REF # Al 027 02/2804;11:22 001 vaza EFTA00195512

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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 | | FINANCIAL TRUST CO INC 6 of8 STATEMENT PERIOD January 31,2004 THROUGH February 27,2004 Transaction Detail (continued) account numccr = TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT —_ January 30, 2004 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBT AMOUNT CREDIT AMOUNT 02/27/04 02/26/04 BOUGHT UNITED STATES TREASURY NOTE 50,000,000 100.45313 50,226,562.50 sed 3H ACCR. INT. 69,539.84 ‘ URITY GVER REF # BI TT TCT CT” Ta CC a eT TT QUE 01/31/2006 1,875 1,875 {06 FTG AQ TERM Ai EEMENT TOTAL $-180,955.683.39 $180,898,300.14 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear,Stearns& Co.Inc. SETTLEMENT TRADE DATE DATE TRANSACTION DESCRETION SYMBOUCUSIP QUANTITY DEBIT AMOUNT CREDIT AMOUNT 02/04/04 INTEREST UNITED STATES TREASURY NOTE TY 14,675.92 TOTAL $36,484.42 027 02/2804;11:32 001 vaza EFTA00195513

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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 FINANCIAL TRUST CO INC 7 of6 STATEMENT PERIOO January 31,2004 THROUGH February 27,2004 Transaction Detail (continued) acco xumccr TAXPAYER NUMBER On File MISCELLANEOUS LAST STATEMENT — January 30, 2004 DATE MONDAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 02/05/04 JOURNAL FITG FITM 12,615.00 TOTAL $-12,615.00 Trades Executed Pending Settlement TRADE DATE TRANSACTION CESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 02/26/04 SOLD UNITED STATES TREASURY NOTE -10,000,000.00 99.8750 9,987,941.58 01,625% FA 28 a URITY GVER REF # Al 03/01/04 02/26) SOLD UNITED STATES TREASURY NOTE -50,000,000.00 99.8750 49,939,707.88 a0 01,625% FA 28 GVER REF # TOTAL $0.00 $59,927.649.46 The above trades co not appear in any other section of this stalement 027 02/2804;11:32 001 vaza EFTA00195514

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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 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York. New York 10179 fl Le FINANCIAL TRUST CO INC 8 of6 STATEMENT PERIOD January 31, 2004 THROUGH February 27,2004 accout Nuecr TAXPAYER NUMBER On File Your messages LAST STATEMENT January 30, 2004 ie Excess SIPC Account Protection Update Effective February 16, 2004, the commercial insurer through which Bear, Steams Securities Corp, obtains excess SIPC protection changed to Customer Asset Protection Company ("CAPCO"), a New York licensed insurance company, CAPCO has an A+ financial strength rating from Standard & Poor's, (stor ****** End of Statement™***** VY 027 02/2804;11:32 001 vaza EFTA00195515

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSITE ww.bearstearns.com What’s In This Statement Financial Summary , » 1 Your Portfolio Holdings . . 2 Transaction Detail ......eessenenee 9 Your Me@SS@Q@S sisscnsseseseeneeies 7 Cash Flow Analysis THIS PERIOD OpeningBalance $0.49 Securities Sold 226,228,606.83 Dividends/Interest 257,852.56 Miscellaneous 60,763,172.61 Amount Credited $287,249,632.00 Securities Bought -70,500,589.28 Dividends/Interest Charged -48,228.93 Miscellaneous -216,700,814.00 Amount Debited eecsssermeneenenerne See eet Net Cash Activity 0.21 Closing Balance $0.28 FINANCIAL TRUST CO INC C/O JEFFREY EPSTEIN 6100 RED HOOK QUARTER STE B3 ST THOMAS VI 00802 Cash Balance Summary OPENING CLOSING Margin 0.49 0.28 Net Cash Balance Income Summary THIS PERIOD YEAR TO DATE U.S. Govt. Bond Int. 257,852.56 257,852.56 Reverse Repurchase Int. 9,075.57 9,075.57 Bond Purchase Int. -48,228.93 -48,228.93 Repurchase Int. Exp. -32,620.53 -32,620.53 This summary is for informational purposes only. It Is mot intended as a tax document CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOO January 1, 2004 THROUGH January 30, 2004 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT December 31,2003 ‘Ths statemem should be retained for your records See reverse side for important imformation. 027 01/31/04,08:20 001 EFTA00195516

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 2 of6 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST CO INC STATEMENT PERIOD January 1, 2004 January 30, 2004 account numccr (S TAXPAYER NUMBER On File December 31, 2003 THROUGH LAST STATEMENT ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (%) CASH BALANCE TOTAL CASH & CASH EQUIVALENTS Repurchase and Reverse Repurchase Transactions with Bear,Stearnsand Co. Inc. outstanding as of date of statement PURCHASE) REPURCHASE PRICING PURCHASE PRICE! ACCAUED REPO QUANTITY START DATE OATE RATE PRINCIPAL INTEREST (FACE AMOUNT) cusP DESCRIPTION YOU SOLD USTR 3.2500 01/15/09 (REPO) 01/26/04 OPEN 0.280 —-20,100,000 2,635 -20,000.000 [xy YOU BOUGHT USTR 1.8750 12/31/05 (REVERSE) 01/21/04 OPEN 0.550 60,450,000 12,912 __ 60,000,000 TOTAL REVERSE REPURCHASE TRANSACTIONS $60,450,000 $12,912 TOTAL REPURCHASE TRANSACTIONS $-20,100,000 $-2,635 "As of statement date 01/31/04,09:20 001 vaos EFTA00195517

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns Securities Corp Bear, Steams & Co. Inc. One Metratech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 mm | FINANCIAL TRUST CO INC 3 of8 STATEMENT PERIOO January 1, 2004 THROUGH January 30, 2004 Transaction Detail account numccr = TAXPAYER NUMBER On File INVESTMENT ACTIVITY LAST STATEMENT December 31, 2003 SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT UNITED STATES TREASURY NOTE -20,000,000 99.92188 ae O1.625% MS 31 ACCR. INT. 87,909.84 | URITY GVER REF # ry 0109/04 O1/0B/04 SOLD UNITED STATES TREASURY NOTE "35,000,000 100.10156 35,035,546.88 ! ACCR. INT. 16,225.96 } 01.875% JD 30 . URITY GVER REF # Al DUE 12/31/2005 _1,875 1,875 105 UNITED STATE TREASURY NOTE er 102.03906 10,203,906.25 5 YR NOTE ACCR. INT. 28,586.07 " 03,375% JD 15 . ITY GVER REF # UNITED STATES TREASURY NOTE mee 01,875% JD 30 ft BOUGHT -25,000,000 100.40625 25,101 ,562.50 ACCR. INT. 27,043.27 QUE 12/31/2005 1,875 1,875 UPON 1.8750 FINANCING NET PAIROFF DIFF RECEIVED UNITED STATES TREASURY NOTE 60,000,000 60,450,000.00 DUE 12/31/2005 1,875 75 LOS 027 01/31/04;09:20 001 vaos EFTA00195518

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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 FINANCIAL TRUST CO INC 4 of8 STATEMENT PERIOO January 1, 2004 THROUGH January 30,2004 Transaction Detail (continued) acco xumccr TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT — December 31, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 01/21/04 RECEIVED UNITED STATES TREASURY NOTE 60,000,000 60,450,000.00 QUE 12/31/2005 1.875 1,875 {OS FITG AS RESALE iT QUE 12/31/2005 1,875 1,875 jos FITG A2 TERM RI EEMENT -60,000,! 000 “60, 450,000. ‘00 01/21/04 DELIVERED UNITED STATES TREASURY NOTE DUE 12/31/ (2005 on” 01/22/04 JOURNAL UNITED STATES TREASURY NOTE -60,000,000 ADJ POS A’O 1/21/04 1,875 DUE 1 f 01/26104 01/23/04 SOLD UNITED STATES TREASURY NOTE ——SSSSCSC*glala"""""""+.0“o00o00 100.63281 10,063,281.25 03,125% AO 15 ACCA. INT. 87,943.99 . URITY GVER REF At i 1a a5 acini i —doe0a0 is s=CS*S ere 5 YR NOTE 08,375% JD 15 ACCR. INT. 38,729.50 GVER REF # PTET TTT Tea TTT aaa reTe sites ri i aC a aT ‘ 03,250% JJ 15 ACCR. INT. 19,642.86 URITY GVER REF # AY TOTAL $-246.909,947.68 $196.177,383.82 027 01/31/04;09:20 001 vans EFTA00195519

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BEAR STEARNS 5 of@ OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST CO INC STATEMENT PERIOO January 1, 2004 THROUGH January 30,2004 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT December 31,2003 with Bear,Stearns& Co. Inc. SETTLEMENT TRADE DATE DATE TRANSACTION DESCRPTION SYMBOUIOUSIP QUANTITY DEBIT AMOUNT CREDIT AMOUNT 01/07/04 JOURNAL UNITED 20,000,000 19.900,000.00 FITG 1,625 D VU! TERM REPO AGREEMENT 01/07/04 INTEREST UNITED STATES TREASURY NOTE 16,865.25 -1 0,000,000 10,200,000.00 5 YR NOTE 3,375 jos FITG Al 01/2104 INTEREST UNITED STATES TREASURY NOTE 9,075.57 ote6ioa JOURNAL UNITED STATES TREASURY NOTE" ng ""S'88F'S00°60 FITG A2 3,125 VT 5/08 TERM REPO AGREEMENT 01/26/04 JOURNAL UNITED STATE TREASURY NOTE —_— §#é€«C«&k 10,000,000 *"$0,200.000.00 3.375 5/08 A2 TERM MENT of B80 oo RNa ONTED STATES TREASUNN NOTE 30.600 000 FITG — Al 3,250 5/09 REPO AGREEMENT 20,100,000.00 01/26/04 INTEREST 027 01/31/04;09:20 001 vaos EFTA00195520

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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 | | FINANCIAL TRUST CO INC 6 of8 STATEMENT PERIOO January 1, 2004 THROUGH January 30, 2004 Transaction Detail (continued) account numccr = TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS {continued} LAST STATEMENT December 31, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRETION SYMBOUCUSIF QUANTITY DEBIT AMOUNT CREDIT AMOUNT 01/26/04 INTEREST UNITED STATE TREASURY NOTE 2,663.33 5 YR NOTE DUE 12)15¢ 3.375 REPO II TOTAL $-40,120,120.53 $30,309,075.57 MISCELLANEOUS DATE MODAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 01/08/04 JOURNAL FITG FITM 155,420.00 JOURNAL FITG Ff 32,492.00 DELIVERED Fit 60,450,000.00 UPON 1.8750 FINANCING NET PAIROFF DIFF JOURNAL FITM TO FITG 181,068.00 UPON 3.1250 FINANCING NET PAIROFF DIFF “JOURNAL FITG FITM $-219,564.00 $60.763,172.61 027 01/31/04,09:20 001 vaos EFTA00195521

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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 fl | FINANCIAL TRUST CO INC 7 of6 STATEMENT PERIOD January 1, 2004 THROUGH January 30, 2004 account nuvecr TAXPAYER NUMBER On File Your messages LAST STATEMENT December 31, 2003 ie Excess SIPC Account Protection Update Effective February 16, 2004, the commercial insurer through which Bear, Steams Securities Corp, obtains excess SIPC protection will change to Customer Asset Protection Company (‘CAPCO"), a New York licensed insurance company, CAPCO has an A+ financial strength rating from Standard and Poor's, STOP: ****** End of Statement™***** \—/ 027 01/31/04,09:20 001 va2s EFTA00195522

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8 of8 STATEMENT BACKER IS PRINTED ON THIS PAGE 01/31/04,09:20 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC EFTA00195523