Statements EFTA00195618

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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 Yi New York 10179 | FINANCIAL TRUST CO ING ACCOUNT EXECUTIVE GNMA GOVT BOND STATEMENT PERIOD November 29,2003 VISIT OUR WEBSITE wew.bearstearns.com THROUGH December 31,2003 . ACCOUNT NUMBER FY i | What’s In This Statement Hasalbssbealsllsssahil TAXPAYER NUMBER On File LAST STATEMENT November 28, 2003 Financial Summary . . 3 FINANCIAL TRUST CO INC Your Portfolio Holdings . . 4 C/O JEFFREY EPSTEIN Transaction Detail J... ff 6100 RED HOOK QUARTER Your Me@SSag@S siusssssenssesemenes 13 STE BS ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio Important Message $380,860 if any information regarding TOTAL VALUE OF SECURITIES THIS PERIOD 18,601,283 8h & Equivalent“ oon 2003interest, dividends, miscellaneous income, LONG ACCRUED INTEREST 215,777 Fixed $18,601,283 gross proceeds or original Income $15,453,004 issue discount is required NET CREDIT BALANCE 380,860 to be reported to the IRS for svensseanseansense1 sesaseanseansenasensees 1s enseansenaenteonsseese1sceeaesccsen HH current market value this account, a Consolidated Form 1099 en turner ieaenn Se Lak echt eit aie will be mailed to you by February 2,20040r a 1042S NET EQUITY LAST STATEMENT 15,882,704 by March 15,2004. CHANGE SINCE LAST STATEMENT 3,315,216 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;12:17 001 vars EFTA00195619

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2 of 13 STATEMENT BACKER IS PRINTED ON THIS PAGE 01/01/04;12:17 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC EFTA00195620

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR STEARNS 3 of 13 383 Madison Avenue Cash Flow Analysis OpeningBalance 34,476,423.63 $280,444.12 Securities Sold Dividends/interest 769,840.35 Miscellaneous 114,939.00 Amount Credited $35,361 .202.98 -35,167,056.55 Securities Bought Dividends/Interest Charged -93,680.63 Miscellaneous -50.00 Amount Debited $-35,260.787.18 Net Cash Activity 100.415.80 Cash Balance Summary OPENING CLOSING Margin 280,444.12 380,859.92 Net Cash Balance $280,444.12 $380,859.92 New York, New York 10179 Income Summary THS PERIOD YEAR TO DATE Govt. Agency Int. §29.120.88 9,461 836.30 Corp. Bond Int. 240,687.70 1,403,354.75 Credit Balance Int. 31.77 1,111.16 Reverse Repurchase Int. 4127.88 26,483.48 Total $773,968.23 $10.892,785.69 Bond Purchase Int. -93,603.74 -143,760.56 Margin Int. Paid -76.89 -76.89 Repurchase Int. Exp. | | -24,344.52 Portfolio Composition Cash/Cash Equivalent 380,860 Fixed Income 18,601,283 Total $18,982.143 027 OVO104;12:17 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp One Metrotech Center North Brockln, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOO Novernber 29, 2003 THROUGH December 31,2003 accowr nuvecs SS TAXPAYER NUMBER On File LAST STATEMENT November 28, 2003 Your Portfolio Allocation Cash & Equivalent 2% — Fixed income 98% Unshaded portions denote debt balance andlor short market values. The alocation percentage is derived from the absohte market value of your portiotio. vata EFTA00195621

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 4 on Your Portfolio Holdings CASH & CASH EQUIVALENTS MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (%) CASH BALANCE 380.860 TOTAL CASH & CASH EQUIVALENTS $380,860 FIXED INCOME Government & Agency Obligations ACCT ACCRUED DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST FEDERAL HOME LOAN MTG CORP Hl trcn 10,456,946 10.4905 1,096,983 27,127 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15) FACTOR = FEDERAL NATIONAL MTG ASSN Etec 1,971,241 85.1406 1,678,327 2 STRIP MTG SERIES 322 CL PO DATED DATE 03/01/02 BOOK ENTRY ONLY DUE 03/01/2032 001% FACTOR = 1,00000000 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15) FACTOR = FEDERAL HOME LOAN MTG CORP SERIES 2488 CLASS SO DATED DATE 07/08/02 BOOK ENTRY ONLY, DUE 03/15) FACTOR = FEDERAL HOME LOAN MTG CORP rc 36,766,242 3.6400 MRGN 18,505,970 11.2865 027 1,338,278 16,340 2,088,679 56,235 01/01/04;12:17 001 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 November 29,2003 THROUGH December 31,2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT November 28,2003 ESTIMATED CURRENT ANNUAL INCOME YIELD (%) 610,372 55.6410 20 367,662 27.4728 1,265,253 60.5767 vara EFTA00195622

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 5 of 139 Your Portfolio Holdings (continued) Government & Agency Obligations (continued) 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 November 29,2003 THROUGH account numccr IS TAXPAYER NUMBER On File LAST STATEMENT ACCT ACCRUED ESTIMATED CURRENT DESCRETION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD (%} FEDERAL HOME LOAN MTG CORP | GN 21,350,313 10.6137 2,266,065 38S 1,246,218 54.9948 SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY FEDL HOME LOAN MTG [I | SERIES 22 CLASS PO DATED DATE 12/01/02 BOOK ENTRY ONLY DUE 121011 FACTOR = MRGN FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW DATED DATE 04/30/03 MRGN Total Government& Agency Obligations Corporate Bonds ACCT SYMBOLCUSP TYPE rc DESCRIPTION FANNIE MAE CMOQ/SERIES 2003-13 S$ RCR-I0 FLTR DATED DATE 02/25/03 BOOK ENTRY ONLY, DUE 03/25) 8% FACTOR = Total CorporateBonds 3,249,317 18,701,667 37,118,425 QUANTITY PRICE 14.6255 79.9844 11.2571 $13,172,536 $5,428,747 2,598,946 2,105,258 18,259 $173,352 ACCRUED INTEREST 42,425 MARKET VALUE 5,428,747 $42,425 1,095,544 52.0385 $4,585,069 ESTIMATED ANNUAL INCOME 2,545,582 QURFENT YELD [%} 46.8908 $2,545,582 TOTAL FIXED INCOME $18,601,283 $215,777 Hh.130.651 01/01/04;12:17 001 vata December 31,2003 November 28,2003 EFTA00195623

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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 | | FINANCIAL TRUST CO INC of 13 STATEMENT PERIOD Novernber 29, 2003 THROUGH December 31,2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT November 28, 2003 Your Portfolio Holdings (continued) YOUR TOTAL ACCRUED INTEREST $215,777 YOUR TOTAL ESTIMATED ANNUAL INCOME | 30,651 YOUR PRICED PORTFOLIOHOLDINGS $18,982,143 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 DATE RATE PRINCIPAL WNTEREST* (FACE AMOUNT) cusIP DESCRIPTION YOU PROVIDED FEDERAL HOME LOAN MTG CORP (MARGIN) 10/23/03 OPEN -51,655,000 SERIES 2530 CLASS SE TOTAL REVERSE REPURCHASE TRANSACTIONS TOTAL REPURCHASE TRANSACTIONS i | i "As of statement date 02/15/32 027 01/01/04;12:17 001 vara EFTA00195624

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp. Bear, Stearns & Co. Inc. ne Metrotech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 FINANCIAL TRUST CO INC STATEMENT PERIOD Novernber 29, 2003 THROUGH December 31,2003 Transaction Detail account numccr IS TAXPAYER NUMBER On File INVESTMENT ACTIVITY LAST STATEMENT November 28, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT FANNIE MAE CMO/SERIES 2002-82 -14,242,198 11.43750 1,628,951.45 SK-VO FLTR wit 06,9315 ACCR. INT. 24,679.06 AS OF PRINCIPAL FEDERAL NATIONAL MTG ASSN io MTG SERIES 322 CL PO -69,948 001 DUE 03/01/32 INCIPAL REDUCTN 12-25-03 SERIES 223 CLASS PO QUE 12/01/32 PRINCIPAL REDUCTN 12-15-03 JOURNAL FANNIE MAE GMO/SERIES 2002-82 K-VO FLTR ies: DUE 10/25/31 JUST POSITION 12/05/03 JOURNAL FANNIE MAE CMO/SERIES 2002-82 K-VO FLTR 931 DUE 10/25/31 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 12-15-03 -1,460,000 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 12-15-03 FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL $5,837 DUE 03/15/32 PRINCIPAL REDUCTN 12-15-03 PRINCIPAL PRINCIPAL FEDERAL HOME LOAN MTG CORP ay -848,004 027 01/01/04;12:17 001 vara EFTA00195625

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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 FINANCIAL TRUST CO INC 8 of 13 STATEMENT PERIOD November 29,2003 THROUGH December 31,2003 Transaction Detail (continued) cme a! TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT — Novernber 28, 2003 SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT GREDIT AMOUNT PRINCIPAL FEDERAL HOME LOAN MTG CORP -735,030 be 2488 CLASS SO 837 DUE 03/15/32 INCIPAL REDUCTN 12-15-03 12/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2526 CLASS SI §,837 DUE 02/15/32 PRINCIPAL REDUCTN 12-15-03 SERIES 223 CLASS PO DUE 12/01/32 PRINCIPAL PAYMENT 12-15-03 BOUGHT FANNIE MAE CMOISERIES 2003-13 lO 37,669,355 4450000 5,462,056.55 SACRO FLTR ACCR. INT. 93,603.74 252033. 06,8815 BS AS OF (DTOTET P8083 INTR COMPUTED TO 12/0803 T2603 PRINCIPAL FEDERAL NATIONAL MTG ASSN — §6=—ldg 69,948.10 001 DUE 03/01/32 ie MTG SERIES 322 CL PO RINCIPAL PAYMENT 12-25-03 ACR-VO FLTR 881 DUE 03/25/33 RINCIPAL REDUCTN 12-25-03 PRINCIPAL FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW §.881 DUE 01/25/33 PRINCIPAL REDUCTN 12-25-03 TOTAL $-5,555,660.29 $1.782,974.81 02? 01/01/04;12:17 001 vara EFTA00195626

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 | 9 of 13 Transaction Detail (continued) INTEREST DATE DESCRIPTION SYMBOUCUSIP 12/01/03 AVGBAL 124,272RT 021 OFFICE INTEREST 11 FEDERAL HOME LOAN MiG CORP wt SERIES 2471 CLASS YT QUE 03/15/2032 1,000 INTEREST PAYMENT 12-15-03 u SERIES 2483 CL SL DUE 03/15/2032 5,83 INTEREST PAYMENT 12°15-03 (03 FEDERAL HOME LOAN MTG CORP SERIES 2488 CLASS | | DUE 03/15/2032 837 | | INTEREST PAYMENT T2-15-03 {2/15/03 FEDERAL HOME LOAN MTG CORP SERIES 2530 2 DUE 02/15/2032 INT A/D 11- REPO P &! 237 -15-03 2800 SERIES 2530 CLASS SE DUE 02/15/2032 237 INT A/D 11- /D 12-15-03 REPO P &! 2800 FEDERAL HOME LOAN MTG CORP —h™: SERIES 2526 CLASS SI QUE 02/15/2032 5,837 INTEREST PAYMENT 12-15-03 {226103 FANNIE MAE CMOVSERIES 2003-13 S RCA. FLIR DUE 03/25/2033 fas INTEREST PAYMENT "9-25-03 FEDERAL NATIONAL MTGASSN SERIES 2003-49 CLASS SW DUE 01/25/2033 5,881 INTEREST PAYMENT 12-25-03 QUANTITY RATE (St 1.0000 DEBIT AMOUNT CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST CO INC STATEMENT PERIOD Novernber 29, 2003 THROUGH December 31,2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT November 28, 2003 CREDIT AMOUNT 31.77 37,855.45 18,373.41 53,056.91 216,008.64 93,018. 08 027 01/01/04;12:17 001 vata EFTA00195627

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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 —— 10179 FINANCIAL TRUST CO INC 10 of 19 STATEMENT PERIOD November 29, 2003 THROUGH December 31,2003 Transaction Detail (continued) TAXPAYER NUMBER On File INTEREST (continued) LAST STATEMENT November 28, 2003 DATE DESCRIPTION SYMBOUOUSIF QUANTITY RATE (%) DEBIT AMOUNT CAEDIT AMOUNT 12/31/03 AVGBAL 23,718AT 3.765 76.89 021 OFFICE INTEREST 1203 TOTAL $-76.89 $745,161.29 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear,Stearns& Co.Inc. SETTLEMENT TRADE DATE DATE TRANSACTION DESCRETION 12/04/03 JOURNAL ADP CD FITM-PR FITM-PR ADP CD io QUANTITY OEBIT AMOUNT CREDIT AMOUNT 1,800,000.00 3,989,000.00 3.989,000.00 INTEREST " “ 2,177.33 027 OVO104;12:17 001 vata EFTA00195628

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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 | a FINANCIAL TRUST CO INC 11 of 15 STATEMENT PERIOD November 29, 2003 THROUGH December 31, 2003 Transaction Detail (continued) TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS {continued} LAST STATEMENT — Novernber 28, 2003 SETTLEMENT TRADE DATE TRANSACTION PTION QUANTITY CESIT AMOUNT CREDIT AMOUNT JOURNAL ADP CD JOURNAL "ADP cD FITM-PR 4,208,000.00 wa JOURNAL ‘ADP CD eee FITM-PR 4,240,000.00 ADP CD DUE 12/34 25 INTEREST” 4,240,000.00 JOURNAL 4.240,000.00 ara 4.240,000.60 027 OVO104;12:17 001 vata EFTA00195629

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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 Brocklyn, New York 11201-3859 STEARNS —— 10179 12 of 13 FINANCIAL TRUST CO INC STATEMENT PERIOD November 29, 2003 THROUGH December 31,2003 Transaction Detail (continued) INTEREST ADP CD DUE 12/34 25 654.50 JOURNAL JOURNAL” — a :_ = 980,000.00 — a DUE 12/345 25 TOTAL $-29,705,000.00 $32,718,127.88 MISCELLANEOUS DESCRIPTION DEBIT AMOUNT AMOUNT FITG FITM 114,939.00 027 OVO104;12:17 001 vata accowr nuvecs SS TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS | (continued) LAST STATEMENT — Novernber 28, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOUCUSIF QUANTITY CREDIT AMOUNT 12) 3 JOURNAL ADP CD FITM-PR EFTA00195630

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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 BEAR 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York. New York 10179 fl FINANCIAL TRUST CO ING 13 of 13 STATEMENT PERIOD Novernber 29,2003 THROUGH December 31,2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File MISCELLANEOUS (continued) LAST STATEMENT November 28, 2003 DATE MO'DAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 12/11/03 JOURNAL NOV.03 SPEC CLEARING FEES 50.00 TOTAL $-50.00 $114,939.00 Your messages LTS 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, ****** End of Statement*™***** oz? 01/01/04;12:17 001 vars EFTA00195631

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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 BEAR 383 Madison Avenue Brocklyn, New York 11201-3859 STEARNS New York. New York 10179 | | FINANCIAL TRUST CO ING ACCOUNT EXECUTIVE + GNMA GOVT BOND STATEMENT PERIOD Novernber 1, 2003 VISIT OUR WEBSITE — www.bearstearns.com THROUGH November 28, 2003 . ACCOUNT NUMBER FY i | What's In This Statement Hava deseloelslleanselil TAXPAYER NUMBER On File , LAST STATEMENT October 31, 2003 Financial SUMMALY wis 3 FINANCIAL TRUST CO INC Your Portfolio Holdings . 4 C/O JEFFREY EPSTEIN Transaction Detail .. I 6100 RED HOOK QUARTER STE B3 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio $280,444 TOTAL VALUE OF SECURITIES THIS PERIOD 15,453,004 “ash & Equialent + $450,076 Income $16,075,464 NET CREDIT BALANCE 280,444 suscusscesenseensss 1 censocssceusncusseenss ss ensescnessncesscesanesssssncnsesacens fesce Current market value NET EQUITY THIS PERIOD $15,882,704 BEEH Lest statement’s market value NET EQUITY LAST STATEMENT 16,731,773 CHANGE SINCE LAST STATEMENT 849,069 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. 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 027 11/29/03;08:43 001 vara EFTA00195632

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2 of 12 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 FINANCIAL TRUST CO INC EFTA00195633

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BEAR STEARNS 3 of t2 Cash Flow Analysis OpeningBalance Securities Sold Dividends/Interest Miscellaneous Amount Credited Securities Bought Miscellaneous OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 THIS PERIOD $450,076.34 101,312,656.87 637,878.91 204,699.00 $102,155,234.78 -102,136,500.00 -188.367.00 Amount Debited Net Cash Activity $-102,324.867.00 -169,632.22 Cash Balance Summary OPENING CLOSING Margin 450,076.34 280,444.12 Net Cash Bal; $450,076.34 $280,444.12 Income Summary THS PERIOD YEAR TO DATE Govt. Agency Int. 552,396.94 8,932,715.42 Corp. Bond Int. 85,430.29 1,162.667.05 Credit Balance Int. 51.68 1,079.39 Reverse Repurchase Int. 2,398.77 22,355.60 $640,277.68 $10,118,817.46 Bond Purchase Int. | -50,156.82 Repurchase Int. Exp. || -24,344.52 Portfolio Composition Cash/Cash Equivalent 280,444 Fixed Income 15,453,004 $15,733,448 027 11/29103;06:43 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp ne Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD November 1, 2003 THROUGH November 28, 2003 TAXPAYER NUMBER On File ACCOUNT NUMBER LAST STATEMENT October 31, 2003 Your Portfolio Allocation Cash & Equivalent 1% “ Fixed Income 99% Unshaded portions denote debt balance andlor short market values. The alocation percentage is derived from the absohte market value of your portioiio. vata EFTA00195634

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams 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 | FINANCIAL TRUST CO INC 4 of te STATEMENT PERIOD November 1, 2003 THROUGH Novernber 28, 2003 Your Portfolio Holdings com wee I CASH & CASH EQUIVALENTS TAXPAYER NUMBER On File LAST STATEMENT October 31,2003 MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (%) CASH BALANCE 280.444 TOTAL CASH & CASH EQUIVALENTS $280,444 FIXED INCOME Government & Agency Obligations ACCT ACCRUED ESTIMATED QURRENT DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD (%) FEDERAL HOME LOAN MTG CORP Hl trcn 10,827,941 10.5177 1,138,856 22,991 636,683 55.9055 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5.880% FACTOR = 42071211 FEDERAL NATIONAL MTG ASSN | MRGN 2,041,189 83.3750 1,701,841 2 20 | | STRIP MTG SERIES 322 CL PO DATED DATE 03/01/02 BOOK ENTRY ONLY DUE 03/01/2032 001% FACTOR = 1,00000000 13,800 382,265 27.0397 FEDERAL HOME LOAN MTG CORP rc 38,226,544 3.6983 1,413,715 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1,000% FACTOR = .38226545 FEDERAL HOME LOAN MTG CORP a wrcn 19,241,000 11.3871 2,190,993 47,800 1,323,781 60.4192 SERIES 2488 CLASS SO DATED DATE 07/08/02 BOOK ENTRY ONLY, DUE 03/15/2032 Bisson FACT 38482003 027 11/2903,06:43 001 vars EFTA00195635

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BEAR STEARNS 5 of 12 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 Your Portfolio Holdings (continued) Government & Agency Obligations (continued) DESCRIPTION SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2032 5,880% FACTOR = ,38482002 FEDL HOME LOAN MTG SERIES 223 CLASS PO DATED DATE 12/01/02 BOOK ENTRY ONLY DUE 12/01/2032 FACTOR = 66174275 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD November 1, 2003 THROUGH November 28, 2003 accouvt nuwecr I TAXPAYER NUMBER On File LAST STATEMENT October 31,2003 ESTIMATED CURRENT ANNUAL INCOME YELD (%) cn FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW DATED DATE 04/30/03 BOOK ENTRY ONLY DUE 01/25/2033 5.881% FACTOR = ,78082180 Total Government& Agency Obligations Corporate Bonds DESCRIPTION FANNIE MAE CMO/SERIES 2002-82 SK-INO FLTA DATED DATE 10/02/02 BOOK ENTRY ONLY, DUE 10/25/2031 Mest FACTOR = .56968/94 Total CorporateBonds cn ACCT SYMBOLCUSP TYPE arc 1,116,170 55.0688 $4,764,180 ESTIMATED CURRENT ANNUAL INCOME YELD [%} 987,127 48.2273 $987,127 TOTAL FIXED INCOME $5,751,307 11/2903,06:43 001 EFTA00195636

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp Bear, Stearns & Co. Inc. ne Metrotech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York. New York 10179 | | FINANCIAL TRUST CO INC of 12 STATEMENT PERIOO THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT Your Portfolio Holdings (continued) YOUR TOTAL ACCRUED INTEREST $149,256 YOUR TOTAL ESTIMATED ANNUAL INCOME $5,751,307 YOUR PRICED PORTFOLIOHOLDINGS $15,733,448 Repurchase and Reverse Repurchase Transactions with Bear,Stearnsand Co. Inc. outstanding as of date of statement PUACHASE) — AEPURCHASE PRICING PURCHASE PRICE! ACCAUED REPO QUANTITY START DATE DATE RATE PRINCIPAL WNTEREST* (FACE AMOUNT) cusiP DESCRIPTION YOU PROVIDED FEDERAL HOME LOAN MTG CORP (MARGIN) 10/23/03 OPEN -51,655,000 SERIES 2530 CLASS SE 02/15/32 TOTAL REVERSE REPURCHASE TRANSACTIONS November 1, 2003 November 28, 2003 On File October 31, 2003 TOTAL REPURCHASE TRANSACTIONS i | i "As of statement date 027 11/2903,06:43 001 vars EFTA00195637

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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 STATEMENT PERIOO Novernber 1, 2003 THROUGH Novernber 28, 2003 Transaction Detail ACCOUNT NUMBER | i | TAXPAYER NUMBER On File INVESTMENT ACTIVITY LAST STATEMENT October 31, 2003 SETTLEMENT TRADE DATE OATE TRANSACTION OESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT DIT AMOUNT PRINCIPAL FEDERAL NATIONAL MTG ASSN -100,887 1.001 DUE 03/01/32 INCIPAL REDUCTN 11-25-03 FEOL HOME LOAN wr [ial SERIES 223 CLASS PO QUE 12/01/32 PRINCIPAL REDUCTN 11-15-03 Heo: MTG SERIES 322 CL PO PRINCIPAL 3 ‘ 05, 500% AS OF TOT6y TO CXL PREVIOUS SELL FNMA-3OVA(FNMA)GID _ _ ‘40,000,000 100.59375 40.237,500.00 SETT,11/03 05, 500% BS FNMA-3OVA(FNMA)GTD _ -_ “40,000,000 400.12500 40,050,000.00 SETT,11103 nvees 05, 500% BS SETT.11/03 05, 500% AS OF TOO7? TO CXL PREVIOUS BUY PRINCIPAL FEDERAL HOME LOAN MTG CORP —_ ll “1,910,000 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCIN 11-15-03 027 11/29103;06:43 001 vara EFTA00195638

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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 fl FINANCIAL TRUST CO INC 8 of 12 STATEMENT PERIOD November 1, 2003 THROUGH November 28, 2003 Transaction Detail (continued) cme a! TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT = October 31, 2003 SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 11-15-03 11/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 11-15-03 SERIES 2483 CL SL 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 11-15-03 PRINCIPAL FEDERAL HOME LOAN MTG CORP Beso, 2488 CLASS SQ -961,794 .880 DUE 03/15/32 RINCIPAL REDUCTN 11-15-03 11/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2526 CLASS SI 5,880 DUE 02/15/32 -527,288 PRINCIPAL REDUCTN 11-15-03 SERIES 223 CLASS PO DUE 12/01/32 PRINCIPAL PAYMENT 11-15-03 PRINCIPAL FEDERAL NATIONAL MTG ASSN TRIP MTG SERIES 322 CL PO 001 DUE 03/01/32 RINCIPAL PAYMENT 11-25-03 400,887.00 PRINCIPAL FANNIE MAE CMO/SERIES 2002-82 K-V'O FLTR 1.931 DUE 10/25/31 INCIPAL REDUCTN 11-25-03 -§50,926 027 11/2903,06:43 001 vars EFTA00195639

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 9 of 12 Transaction Detail (continued) INVESTMENT ACTIVITY (continued) SETTLEMENT TRADE CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST CO INC STATEMENT PERIOD Novernber 1, 2003 THROUGH November 28, 2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT October 31,2003 DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 11/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN -354,146 SERIES 2003-49 CLASS SW 5,881 DUE 01/25/33 PRINCIPAL REDUCTN 11-25-03 TOTAL $-80,.287.500.00 $80,450,258.10 INTEREST DATE DESCRIPTION SYMBOUUSIF QUANTITY RATE (%) DEBIT AMOUNT CAEDIT AMOUNT 11/03/03 AVGBAL 216,567RT 021 OFFICE INTEREST 1003 SERIES 2471 CLASS YT DUE 03/15/2032 1,000 INTEREST PAYMENT 11-15-03 FEDERAL HOME LOAN MiG CORP SERIES 2483 CL SL DUE 03/15/2032 5,880 INTEREST PAYMENT 11-15-03 FEDERAL HOME LOAN MiG CORP” SERIES 2488 CLASS DUE 03/15/2032 eso INTEREST PAYMENT T1-15-03 FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS QUE 02/15/2032 280 INT A/D 10- /D 11-15-03 REPO P &1 2800 EDERAL HOME LOAN MTG CORP aw SERIES 2530 CLASS SE DUE 02/15/2032 280 INT RID 10- /D 11-15-03 REPO P &1 800 an 3 5.8800 51.68 80 74,208.89 "975,829.36 " 119,268.51 11/2903,06:43 001 vata EFTA00195640

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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 10 of 12 STATEMENT PERIOO Novernber 1, 2003 THROUGH November 28, 2003 Transaction Detail (continued) account numccr = TAXPAYER NUMBER On File INTEREST (continued) LAST STATEMENT October 31, 2003 DATE CESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) OEBIT AMOUNT CREDIT AMOUNT 11/17/03 FEDERAL HOME LOAN MTG CORP 5.8800 55,640.62 SERIES 2526 CLASS SI QUE 02/15/2032 5,880 INTEREST PAYMENT 11-15-03 FANNIE MAE CMOISERIES 2002-82 ll SK-/0 FLIR QUE 10/25/2031 Bes! INTEREST PAYMENT 11-25-03 a” ae SU SERIES 2003-49 CLASS SW QUE 01/25/2033 5,881 INTEREST PAYMENT 11-25-03 TOTAL $637,878.91 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear, Stearns& Co.Inc. SETTLEMENT TRADE DATE DATE 11/05; JOURNAL ADP CD 3,000,000.00 TRANSACTION CRETION SYMBOLCUSIF QUANTITY DEBIT AMOUNT CREDIT AMOUNT FITM-PR JOURNAL ‘ADP CD FITM-PR {1io0si03 3,000,000.00 3,450,000.00 JOURNAL ADP CD FITM-PR 027 11/29103;06:43 001 vara EFTA00195641

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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 | a FINANCIAL TRUST CO INC 11 oof t2 STATEMENT PERIOD November 1, 2003 THROUGH November 28, 2003 Transaction Detail (continued) TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT October 31, 2003 SETTLEMENT TRADE DATE TRANSACTION 0 QUANTITY DEBIT AMOUNT CREDIT AMOUNT INTEREST ADP CD 33 DUE 12/34) 25 JOURNAL ADP CD FITM-PR FITM-PR 3,450,000.00 3,450,000.00 JOURNAL 3,980,000.00 JOURNAL” JOURNAL 3,980,000.00 3,980,000.00 JOURNAL JOURNAL” 3.980,000.00 027 11/29103;06:43 001 vata EFTA00195642

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp Bear, Stearns & Co. Inc. ne Metrotech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York. New York 10179 | | FINANCIAL TRUST CO INC 12 of 12 STATEMENT PERIOD November 1, 2003 THROUGH November 28, 2003 Transaction Detail (continued) cme a! TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS | (continued) LAST STATEMENT — October 31, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRETION SYMBOUCUSIF QUANTITY DEBIT AMOUNT CREDIT AMOUNT 11/20/03 JOURNAL ADP CD 3,989,000.00 FITM-PR DUE 12/345 25 TOTAL $-21,849,000.00 $20 ,862,398.77 MISCELLANEOUS DATE MavDAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 11/05/03 JOURNAL FITG FITM 17.00 SETT.11/03 §,500 DUE 11/01/33 MBS NET 11/12/03 JOURNAL FITG FITM JOURNAL OCT O3 SPEC CLEARING FEES 850.00 $-188,367.00 $204,699.00 —, (stop) **ee** End of Statement****** 027 11/2903,06:43 001 vars EFTA00195643

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beas, Steams Securities Corp. Bear, Stearns & Co. Inc. One Metrotech Center North 383 Madison Avenue Brockiyn, New York 11201-3859 STEARNS New York. New York 10179 | | FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE GNMA GOVT BOND STATEMENT PERIOD October 1, 2003 VISIT OUR WEBSITE waw.bearstearns.com THROUGH October 31, 2003 What’s In This Statement | PP | Pry end eee erent wenuta a LAST STATEMENT September 30, 2003 Financial SUMMALY assess — S FINANCIAL TRUST CO INC Your Portfolio Holdings . 4 C/O JEFFREY EPSTEIN Transaction Detail .. I 6100 RED HOOK QUARTER Trades Not Yet Settled 14 STE B3 ST THOMAS Vi 00802 Your Portfolio at a Glance Market Value of Your Portfolio $450,076 TOTAL VALUE OF SECURITIES THIS PERIOD 16,075,464 Sash & Equivalent 4 $992 LONG ACCRUED INTEREST 206,233 Fined Es $16,075,464 NET CREDIT BALANCE 450,076 Income $15,466,561 eecenccceccnncsese + 1 sosccccscenssoccsconecs : cenccseccscssscosconss ss sccsecccces fesse] Current market value NET EQUITY THIS PERIOD $16,731,773 BEE Lest statement's market value NET EQUITY LAST STATEMENT 13,670,819 CHANGE SINCE LAST STATEMENT 3,060,954 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. 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 11/01103;13:39 001 vara EFTA00195644

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2 of 4 STATEMENT BACKER IS PRINTED ON THIS PAGE 11/01/03;13:39 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC EFTA00195645

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR STEARNS 3 oft 383 Madison Avenue Cash Flow Analysis OpeningBalance $992.05 Securities Sold 158,614,157.53 Dividends/Interest 679,297.41 Miscellaneous 1,214,062.50 Amount Credited $160,507.517.44 Securities Bought -159,821,725.15 Miscellaneous -236,708.00 $-160,058,433.15 Amount Debited Net Cash Activity 449,084.29 Cash Balance Summary OPENING CLOSING Margin 992.05 450,076.34 Net Cash Bal: $992.05 New York, New York 10179 Income Summary THiS PERIOD YEAR TO DATE Govt. Agency Int. 589,443.56 8,380,318.48 Corp. Bond Int. 89,757.59 1,077,236.76 Credit Balance Int. 96.26 1,027.71 Reverse Repurchase Int. 1,538.03 19,956.83 $680,835.44 $9,478,539.78 Bond Purchase Int. | -50,156.82 Repurchase Int. Exp. || -24,344.52 Portfolio Composition Cash/Cash Equivalent 450,076 Fixed Income 16,075,464 $16,525, 027 11/01/03;13:39 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp ne Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD October 1, 2003 THROUGH October 31,2003 accowr nuvecs SS TAXPAYER NUMBER On File LAST STATEMENT September 30, 2003 Your Portfolio Allocation Cash & Equivalent 2% — Fixed income 98% Unshaded portions denote debt balance andlor short market values. The alocation percentage is derived from the absohte market value of your portiotio. vata EFTA00195646

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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 a FINANCIAL TRUST CO INC 4 oft STATEMENT PERIOO October 1, 2003 THROUGH October 31,2003 Your Portfolio Holdings com wee I CASH & CASH EQUIVALENTS TAXPAYER NUMBER On File LAST STATEMENT September 30, 2003 NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (%) CASH BALANCE 450.076 TOTAL CASH & CASH EQUIVALENTS $450,076 FIXED INCOME Government & Agency Obligations ACCT ACCRUED ESTIMATED QURRENT DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD (%) FEDERAL HOME LOAN MTG CORP Hl trcn 11,355,229 10.4109 1,182,184 29,675 667,687 56.4791 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5,880% FACTOR = .44119951 FEDERAL NATIONAL MTG ASSN | MRGN 2,142,076 84.2031 1,803,695 2 21 | | STRIP MTG SERIES 322 CL PO DATED DATE 03/01/02 BOOK ENTRY ONLY DUE 03/01/2032 001% FACTOR = 1,00000000 FEDERAL HOME LOAN MTG CORP rc 40,137,362 3.6956 1,483,335 17,840 401,374 27.0589 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.000% FACTOR = .40137363 952 60.9833 FEDERAL HOME LOAN MTG CORP a wrcn 20,202,794 11.2818 2,279,235 61,775 1, SERIES 2488 CLASS SO DATED DATE 07/08/02 BOOK ENTRY ONLY, DUE 03/15/2032 Bssox FACTOR = ,40405591 027 11/01/03;13:39 001 vars EFTA00195647

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 5 of 14 Your Portfolio Holdings (continued) Government & Agency Obligations (continued) DESCRIPTION SYMBOLCUSP SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2032 5,880% FACTOR = ,40405590 FEDL HOME LOAN MTG [i rc SERIES 22 CLASS PO DATED DATE 12/01/02 BOOK ENTRY ONLY DUE 12101/2032 FACTOR = 67411697 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOO October 1, 2003 THROUGH October 31,2003 accouvt nuwecr I TAXPAYER NUMBER On File LAST STATEMENT September 30, 2003 ESTIMATED CURRENT ANNUAL INCOME YELD (%) FEDERAL NATIONAL MTG ASSN rc SERIES 2003-49 CLASS SW DATED DATE 04/30/03 BOOK ENTRY ONLY DUE 01/25/2033 5,880% FACTOR = ,79539167 Total Government& Agency Obligations Corporate Bonds ACCT DESCRIPTION SYMBOLCUSP TYPE FANNIE MAE CMO/SERIES 2002-82 rc SK-INO FLTA DATED DATE 10/02/02 BOOK ENTRY ONLY, DUE 10/25/2031 Bes0% FACTOR = .59172496 Total CorporateBonds 1,136,804 53.5495 $4,966,345 ESTIMATED QURFENT ANNUAL INCOME YELD ["} 1,025,163 48.7136 $1,025,163 TOTAL FIXED INCOME $16,075,464 $206,233 $5,991,508 11/01/03;13:39 001 EFTA00195648

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp Bear, Stearns & Co. Inc. ne Metrotech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York. New York 10179 | | FINANCIAL TRUST CO INC of 14 STATEMENT PERIOO THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT Your Portfolio Holdings (continued) YOUR TOTAL ACCRUED INTEREST $206,233 YOUR TOTAL ESTIMATED ANNUAL INCOME $5,991,508 YOUR PRICED PORTFOLIOHOLDINGS $16,525,540 Repurchase and Reverse Repurchase Transactions with Bear,Stearnsand Co. Inc. outstanding as of date of statement PUACHASE) — AEPURCHASE PRICING PURCHASE PRICE! ACCAUED REPO QUANTITY START DATE DATE RATE PRINCIPAL WNTEREST* (FACE AMOUNT) cusiP DESCRIPTION YOU PROVIDED FEDERAL HOME LOAN MTG CORP (MARGIN) 10/23/03 OPEN -51,655,000 SERIES 2530 CLASS SE 02/15/32 TOTAL REVERSE REPURCHASE TRANSACTIONS October 1, 2003 October 31,2003 On File September 30, 2003 TOTAL REPURCHASE TRANSACTIONS i | i "As of statement date 027 11/01/03;13:39 001 vars EFTA00195649

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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 Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 fl | FINANCIAL TRUST CO INC STATEMENT PERIOD October 1, 2003 THROUGH October 31, 2003 Transaction Detail account numecr (IS TAXPAYER NUMBER On File INVESTMENT ACTIVITY LAST STATEMENT September 30, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUS: QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT PRINCIPAL FEDERAL NATIONAL MTG ASSN -169,307 001 DUE 03/01/32 Heo: MTG SERIES 322 CL PO RINCIPAL REDUCTN 10-25-03 82.31250 2,774,412.65 BOUGHT FEDL HOME LOAN MTG 3,370,584 SERIES 223 CLASS PO SETT, 10/03 net 05,500% AS OF O5/05! TO CXL PREVIOUS 15,000,000 98.96875 14,845,312.50 09/04/03 CANCEL SELL FNMA-3O0YA(FNMA) GTD SETT.1 03 Y 05.5005 AS OF 09/04! TO CXL PREVIOUS (03. 10/07/03 CANCEL SELL FNMA-30YA(FNMA) GTD SETT. 10/03 uke 05, 500% {0/15/03 09/05/03 CANCEL SELL FNMA-SOVA(FNMA) GTD i 10,000,000 99.53125 9,953,125.00 40,000,000 100.94922 40,379,687.50 AS OF TOO7? TO CXL PREVIOUS SE: 027 11/01/03;13:39 001 vata EFTA00195650

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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 Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 fl FINANCIAL TRUST CO INC B of 14 STATEMENT PERIOD October 1, 2003 THROUGH October 31, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT — September 30, 2003 SETTLEMENT TRADE DATE OATE DESCRIPTION } SIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 65,000,000 98.40625 FNMA-30YA(FNMA) GTD -10,000,000 99.53125 9,953,125.00 SETT.10/03 FNMA-30VA(FNMA) GTO _ _ “15,000,000 98.96875 14,845,312.50 SETT. 10/03 05, 500% ENMA-3OVA(FNMA) GTD - “40,000,000 100.94922 40,379,687.50 SETT.1 03 SETT.10/03 05, 500% AS OF O803? TO CXL PREVIOUS BUY FEDERAL HOME LOAN MTG CORP a SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 10-15-03 PRINCIPAL 027 11/01/03;13:39 001 vata EFTA00195651

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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 FINANCIAL TRUST CO INC 9 of 14 STATEMENT PERIOD October 1, 2003 THROUGH October 31,2003 Transaction Detail (continued) accouvt numecr | TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT — September 30, 2003 SETTLEMENT TRADE Dw OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 10/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP 971 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 10-15-03 {15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL §.880 DUE 03/15/32 PRINCIPAL REDUCTN 10-15-03 SERIES 2483 CL SL 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 10-15-03 10/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP ERIES 2488 CLASS SO 880 DUE 03/15/32 RINCIPAL REDUCTN 10-15-03 {o/i5/03 PRINCIPAL FEDERAL HOME LOAN MiG CORP a 94 FRIES 2488 CLASS SO 880 DUE 03/15132 INCIPAL REDUCTN 10-15-03 -1,598,000 SERIES 2526 CLASS SI 5,880 DUE 02/15/32 PRINCIPAL REDUCTN 10-15-03 10/24/03 JOURNAL FEDERAL HOME LOAN MTG CORP bee: 2530 CLASS SE 280 DUE 02/15/32 JUST POSITION mat 169,307.00 {oi27/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN | TRIP MTG SERIES 322 CL PO 1.001 DUE 03/01/32 RINCIPAL PAYMENT 10-25-03 10/27/03 PRINCIPAL FANNIE MAE CMOISERIES 2002-82 — eee re FUR 930 DUE 10/25/31 INCIPAL REDUCTN 10-25-03 027 11/01/03;13:39 001 vars EFTA00195652

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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 Brocklyn, New York 11201-3859 STEARNS _—€€ 10179 10 of 4 FINANCIAL TRUST CO INC STATEMENT PERIOD October 1, 2003 THROUGH October 31,2003 Transaction Detail (continued) accouvt numecr | TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT September 30, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBT AMOUNT GREOIT AMOUNT 10/27/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN -498,148 SERIES 2003-49 CLASS SW 5,880 DUE 01/25/33 PRINCIPAL REDUCTN 10-25-03 TOTAL $-141 869,725.15 $139,264,619.50 INTEREST DATE CESCRIPTION SYMBOUCUSIF QUANTITY RATE {%) DEBIT AMOUNT CREDIT AMOUNT 10/01/03 AVGBAL 992AT 021 OFFICE INTEREST 0903 foiozi03 AVG BAL 379.7488 ll 96.24 021 OFFICE INTEREST 0903 15/03 FEDERAL HOME LOAN MTG CORP 4/0000 36,093.61 SERIES 2471 CLASS YT QUE 03/15/2032 1,000 INTEREST PAYMENT 10-15-03 10/15/03 FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL QUE 03/15/2032 5,880 INTEREST PAYMENT 10-15-03 | | 5.8800 123.343.17 SERIES 2488 CLASS 50 QUE 03/15/2032 880 INTEREST PAYMENT TO-15-03 15/03 FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS DUE 02/15/2032 280 INT A/D O9- /D 10-15-03 REPO P &! 2800 ————_ nn rr 027 11/01/03;13:39 001 vars EFTA00195653

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 11 of Transaction Detail (continued) INTEREST (continued) DATE DESCRIPTION SYMBOUCUSIP 10/15/03 FEDERAL HOME LOAN MTG CORP SERIES 2526 CLASS SI QUE 02/15/2032 §,880 INTEREST PAYMENT 10-15-03 SK-/0 FLIR QUE 10/25/2031 Bese INTEREST PAYMENT T0-25-03 SERIES 2003-49 CLASS SW DUE 01/25/2033 5,880 INTEREST PAYMENT 16-25-03 FANNIE MAE CMOISERIES 2002-82 ll 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 October 1, 2003 THROUGH October 31,2003 account numccr = TAXPAYER NUMBER On File LAST STATEMENT September 30, 2003 CREDIT AMOUNT 59,584.42 89,757.59 TOTAL $679,297.41 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear, Stearns& Co.Inc. SETTLEMENT TRADE DATE DATE TRANSACTION JOURNAL 11/01/03;13:39 001 CREDIT AMOUNT 4,396,000.00 vata EFTA00195654

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OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp Bear, Stearns & Co. Inc. One Metratech Center North 383 Madison Avenue Brockln, New York 11201-3859 STEARNS New York. New York 10179 | a FINANCIAL TRUST CO INC 12 ot STATEMENT PERIOD October 1, 2003 THROUGH October 31, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT — September 30, 2003 SETTLEMENT TRADE DATE TRANSACTION IPTION QUANTITY CESIT AMOUNT CREDIT AMOUNT JOURNAL ADP CD EE aa INTEREST ADP CD DUE 12/345 25 win 4,296,000.00 JOURNAL FITM-PR ‘ADP CD 698.10 DUE 12/34 25 INTEREST” 1,520,000.00 JOURNAL FITM-PR. JOURNAL {520,000.00 FITM-PR JOURNAL "ABP CB ew 3,220,000.00 FITM-PR 027 11/01/03;13:39 001 vata EFTA00195655

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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 Brocklyn, New York 11201-3859 STEARNS New York. New York 10179 | | FINANCIAL TRUST CO INC 13 of 14 STATEMENT PERIOD October 1, 2003 THROUGH October 31,2003 Transaction Detail (continued) TAXPAYER NUMBER On File accowr nuvecs SS REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS | (continued) LAST STATEMENT September 30, 2003 SETTLEMENT TRADE u DATE TRANSACTION DESCRETION SYMBOUCUSIP QUANTITY DEBIT AMOUNT CREDIT AMOUNT INTEREST ADP CD DUE 12/34) 25 DATE JOURNAL ADP CD iio 3,000,000.00 ey i INTEREST ‘ADP CD 234.34 DUE 12/944 25 40/23/03 JOURNAL" FEDERAL HOME LOAN MTG CORP “22,790,161 ERIES 2530 CLASS SE ae: 0 AG 530 CLASS SE IES 2: 280 DU MARGN A2 TERM REPO AGI NT RAL HOME LOAN MTG CORP * 3.681.809 IES 2530 CLASS SE 80 DU! ait REPO AGRI TOTAL $-17,952.000.00 $19,349,538.03 JOURNAL 027 11/01/03;13:39 001 vata EFTA00195656

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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 14 of 4 STATEMENT PERIOD October 1, 2003 THROUGH October 31,2003 Transaction Detail (continued) ———- | TAXPAYER NUMBER On File MISCELLANEOUS LAST STATEMENT September 30, 2003 DATE MOVDAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 10/06/03 JOURNAL FITG TO FI 1,338.00 rr ern mmm mn ren cen mann Fa Te TTC TTT we SETT,10/03 5,500 DUE 10/01/33 MBS NET 10/15/03 JOURNAL FITG FITM 38,459.00 $-236,708.00 $1,214,062.50 Trades Executed Pending Settlement SETTLEMENT TRADE DATE TE TRANSACTION DESCRIPTION 11/13/03 10/07/03 BOUGHT FNMA-30YA(FNMA)GTD SETI, SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 40,000,000.00 100.5937 40,237,500.00 ‘03 f 05.500% BS “40,000,000.00 1001250 40,050,000.00 {i3i03 77 SETT,11/03 f 05.500% BS TOTAL $40,237,500.00 $40,050,000.00 The above trades do not appear in any other section of this statement 027 11/01/03;13:39 001 vars EFTA00195657

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS —* ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSITE ww.bearstearns.com What's In This Statement Hava daseloelslleanselil Financial Summary , . 38 FINANCIAL TRUST CO INC Your Portfolio Holdings . 4 C/O JEFFREY EPSTEIN Transaction Detail ves ff Sees HOOK QUARTER Trades Not Yet Settled ween 13 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio $992 TOTAL VALUE OF SECURITIES THIS PERIOD ©: 13,466,661 #8" & Equivalent “A Income $13,626,053 NET CREDIT BALANCE 992 eecenccceccancsese +1 sosccccscnssoccsconecs : senccseccssccsscosconss ss sccscccecees fess] Current market value NET EQUITY THIS PERIOD $13,670,819 [EEE Last statement’s market value NET EQUITY LAST STATEMENT 13,836,583 CHANGE SINCE LAST STATEMENT ~165,764 There are no “Stop Loss” orders or other pending buy or sell open orders on file for your account. This summary is for informational purposes only. It Is mot intended as a tax document CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOO August 30,2003 THROUGH September 30, 2003 accouvt nuwecr I 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 retained for your records. See reverse side for important information. o27 10/01/03;10:54 001 vaia EFTA00195658

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2 of 13 STATEMENT BACKER IS PRINTED ON THIS PAGE 10/01/03;10:54 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC EFTA00195659

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR STEARNS 3 of 13 383 Madison Avenue Cash Flow Analysis New York, New York 10179 Income Summary CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp One Metrotech Center North Brockln, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD August 30,2003 THROUGH September 30, 2003 accowr nuvecs SS TAXPAYER NUMBER On File THIS PERIOD THIS PERIOD YEAR TO DATE eS LAST STATEMENT August 29,2003 OpeningBalance $244.46 Govt. Agency Int. 663,909.77 [790,874.92 Corp. Bond Int. 98,763.24 987,479.17 Securities Sold 176,098,821.93 Credit Balance Int. 128.15 931.45 i iN t 762,801.1 Dlvidends/interes 62,801.16 Reverse Repurchase Int. 2,357.87 18,418.80 Amount Credited $176,861 623.09 _— rT $8797 704.34 Securities Bought -175,152,227.06 Bond Purchase Int. -50,156.82 Miscellaneous -1,708,648.44 Repurchase Int. Exp. -24,344.52 A Net Cash Activity 747.59 . eae Portfolio Composition Closing Balance $992.05 Cash/Cash Equivalent 992 Fixed Income 13,466,661 suseessesann Your Portfolio $13,467,653 Allocation Cash Balance Summary OPENING CLOSING Fixed Income— 100% Unshaded portions denote debt balance andlor short market values. The alocation percentage is derived from the absohte market value of your portiotio. 027 10/01/03;10:84 001 vara EFTA00195660

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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 a FINANCIAL TRUST CO INC 4a STATEMENT PERIOO August 30,2003 THROUGH September 30, 2003 Your Portfolio Holdings com wee I CASH & CASH EQUIVALENTS TAXPAYER NUMBER On File LAST STATEMENT August 29, 2003 NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (%) CASH BALANCE 992 TOTAL CASH & CASH EQUIVALENTS $992 FIXED INCOME Government & Agency Obligations ACCT ACCRUED ESTIMATED QURRENT DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD (%) FEDERAL HOME LOAN MTG CORP Hl trcn 12,160,086 9.7796 1,189,206 29,793 715,013 60.1252 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5,880% FACTOR = .47247166 FEDERAL NATIONAL MTG ASSN | MRGN 2,311,383 87.5781 2,024,266 2 23 | | STRIP MTG SERIES 322 CL PO DATED DATE 03/01/02 BOOK ENTRY ONLY DUE 03/01/2032 001% FACTOR = 1,00000000 FEDERAL HOME LOAN MTG CORP rc 43,312,333 3.2974 1,428,182 18,050 433,123 30.3269 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1,000% FACTOR = 43312334 FEDERAL HOME LOAN MTG CORP a wrcn 21,800,888 10.1749 2,218,219 62,495 1,499,901 67.6174 SERIES 2488 CLASS SO DATED DATE 07/08/02 BOOK ENTRY ONLY, DUE 03/15/2032 fh2s0% FACT OR = .43601779 027 10/01/03;10:54 001 vara EFTA00195661

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North 383 Madison Avenue Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 | | FINANCIAL TRUST CO INC 5 of 13 STATEMENT PERIOO August 30,2003 THROUGH September 30, 2003 Your Portfolio Holdings (continued) ow a TAXPAYER NUMBER On File LAST STATEMENT August 29, 2003 Government & Agency Obligations (continued) 7 ACCRUED ESTIMATED CURRENT DESCRIPTION SYMBOLCUSP QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD (%) SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2082 5,880% FACTOR = ,43601778 FEDERAL NATIONAL MTG ASSN rc 19,831,541 10.4766 2,077,667 16,225 1,168,078 56.2207 SERIES 2003-49 CLASS SW DATED DATE 04/30/03 BOOK ENTRY ONLY DUE 01/25/2033 5.890% FACTOR = ,81588887 Total Government& Agency Obligations $11,411,577 $188,184 $5,295,055 Corporate Bonds ACCT ACCRVED ESTIMATED CURRENT DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD [*} FANNIE MAE CMO/SERIES 2002-82 rc 15,542,438 13.2224 2,055,084 14,982 1,078,645 52.4867 SK-V0 FLTA DATED DATE 10/02/02 BOOK ENTRY ONLY, DUE 10/25/2031 ff.940% FACTOR = ,62169/57 Total CorporateBonds $2,055,084 $14,982 $1,078,645 TOTAL FIXED INCOME $13,466,661 $203,166 —_.373,700 YOUR TOTAL ACCRUED INTEREST $203,166 YOUR TOTAL ESTIMATED ANNUAL INCOME 8.373.700 YOUR PRICED PORTFOLIOHOLDINGS $13,467,653 o27 10/01/03;10:54 001 vata EFTA00195662

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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 Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 fl FINANCIAL TRUST CO INC STATEMENT PERIOD August 30,2003 THROUGH September 30, 2003 Transaction Detail account wuecr ES TAXPAYER NUMBER On File INVESTMENT ACTIVITY LAST STATEMENT August 29, 2003 SETTLEMENT TRADE DATE Ow DESCRIPTION FNMA-30YA(FNMA)GTD 0 3 AS OF OBVDa! TO CXL PREVIOUS BOUGHT FNMA-3OYA(FNMA)GTD SETT.O9/03 QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 10,000,000 94.98438 10,000,000 101.46875 10,146,875.00 SETT,09/03 D1 05,000% AS OF OBT7! TO CXL PREVIOUS BUY 07/28/03 BOUGHT FNMA 30YR GTD SETT, 09/03 05, 500% AS OF i 10,000,000 100.10938 10,010,937.50 103 CANCEL BUY FNMA-3OVA(ENMA)GTD | "10,000,000" 101.46875 40.146,875.00 SETT, 09/03 p 05.500% 027 10/01/03;10:84 001 vara EFTA00195663

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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 Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 as | FINANCIAL TRUST CO INC STATEMENT PERIOD August 30,2003 THROUGH September 30, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT — August 29, 2003 SETTLEMENT TRADE DATE oar DESCRIPTION i SP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 7/03 BOUGHT FNMA 30YR GID 20,000,000 102.25000 20,450,000.00 SETT. 09/15/03 BOUGHT FNMA 30YA GID SETT, 09/03 05,500% 35,000,000 99.48438 34,819,531.25 SETT, 09/03 ieee 05, 500% AS OF O803! TO CXL PREVIOUS CANCEL BUY FNMA 30¥A GID | “10,000,000 100-10938 10,010,937.50 SETT, 09/03 D1 05,500% AS OF 07728! TO CXL PREVIOUS BUY 07/28/03 CANCEL BUY FNMA 30YR GTD SETT, 09/03 05, 500% BS AS OF 077287 "10,000,000 400.10938 10,070,938.00 TO CXL PREVIOUS BUY SETT, 09/03 Tees 05, 500% AS OF O7077 TO CXL PREVIOUS BUY 027 10/01/03;10:84 001 vara EFTA00195664

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BEAR STEARNS 8 of 13 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 Transaction Detail (continued) INVESTMENT ACTIVITY (continued) SETTLEMENT TRADE OATE 09/15/03 DESCRIPTION FNMA 30YR GTD SI AS OF 077297 TO CXL PREVIOUS BUY FNMA 30YR GTD SETT, 09/03 ‘ 05, 500% BS SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 09-15-03 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 09-15-03 FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 09-15-03 FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL $,880 DUE 03/15/32 PRINCIPAL REDUCTN 09-15-03 FEDERAL HOME LOAN MTG CORP ERIES 2488 CLASS SO 880 DUE 03/15/32 RINCIPAL REDUCTN 09-15-03 FEDERAL HOME LOAN MTG CORP ERIES 2488 CLASS SO 880 DUE 03/15/32 INCIPAL REDUCTN 09-15-03 FEDERAL HOME LOAN MTG CORP CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOO August 30,2003 THROUGH September 30, 2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT August 29, 2003 DEBIT AMOUNT CREDIT AMOUNT 34,819,531.25 64,220,507.81 10/01/03;10:54 001 vara EFTA00195665

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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 | | FINANCIAL TRUST CO INC 9 of 13 STATEMENT PERIOD August 30,2003 THROUGH September 30, 2003 Transaction Detail (continued) commen I! TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT = August 29, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBT AMOUNT GREOIT AMOUNT 09/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP 601,000 SERIES 2526 CLASS SI 5,880 DUE 02/15/32 PRINCIPAL REDUCTN 09-15-03 SERIES 2526 CLASS SI 5,880 DUE 02/15/32 PRINCIPAL REDUCTN 09-15-03 iso MTG SERIES 322 CL PO el .001 DUE 03/01/32 RIN AID 08- REPO P &! eso FLIR P/D 09-25-03 100 534,000 1.930 DUE 10/25/31 RINCIPAL REDUCTN 09-25-03 09/25/03 PRINCIPAL FANNIE MAE CMOISERIES 2002-82 K-VO FLTR 1.930 DUE 10/25/31 ICIPAL REDUCTN 09-25-03 i nr ae og/25103 PRINCIPAL FEDERAL NATIONAL MS nny Sree SERIES 2003-49 CLASS SW an 5,880 DUE 01/25/33 PRINCIPAL REDUCTN 09-25-03 SERIES 2003-49 CLASS SW 5,880 DUE 01/25/33 PRINCIPAL REDUCTN 09-25-03 090,000 TOTAL $-159,157,227.06 $159,464.464.06 oz? 10/01/03;10:84 001 vara EFTA00195666

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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 Brocklyn, New York 11201-3859 STEARNS _—€€ 10179 10 of 19 STATEMENT PERIOO THROUGH Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER INTEREST LAST STATEMENT DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE [Sp DEBIT AMOUNT CREDIT AMOUNT (03 AVGBAL 488,921AT 128.15 021 OFFICE INTEREST 0: (03 FEDERAL HOME LOAN MTG CORP , 76000 47,264.85 SERIES 2471 CLASS YT QUE 03/15/2032 1,000 INTEREST PAYMENT 05-15-03 u SERIES 2483 CL SL DUE 03/15/2032 5,880 INTEREST PAYMENT 09-15-03 FEDERAL HOME LOAN MTG CORP SERIES 2488 CLASS QUE 03/15/2032 880 INTEREST PAYMENT 09-15-03 09/15/03 FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS DUE 02/15/2032 280 INT A/D 08- /D 09-15-03 REPO P &! 1 2900 ea . se 168,159.56 SERIES 2526 CLASS SI QUE 02/15/2032 5.880 INTEREST PAYMENT 09-15-03 FANNIE MAE CMO/SERIES 2002-82 SK-VO FLTR QUE 10/25/2031 930 INTEREST PAYMENT 09-25-03 98,763.24 09/25/03 FEDERAL NATIONAL MIG ASSN’ —e™ 5.8800 m702,692.40 SERIES 2003-49 CLASS SW DUE 01/25/2033 5,880 INTEREST PAYMENT 09-25-03 TOTAL $762,801.16 o27 10/01/03;10:84 001 vara FINANCIAL TRUST CO INC August 30, 2003 September 30, 2003 On File August 29, 2003 EFTA00195667

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a V1 oof 13 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear,Stearns& Co. Inc. SETTLEMENT TRADE DATE TRANSACTION DESCRPTION JOURNAL ADP CD FITM-PR JOURNAL ‘ADP CD Re FEDERAL NATIONAL MTG ASSN Lee: MIG SERIES 322 CL PO —_ INTEREST ADP CD DUE 12/3, 25 JOURNAL” QUANTITY 2,311,383 DEBIT AMOUNT 5,033,000.00 3,283,000.00 10/01/03;10:84 001 Bear, Steams Securities Comp One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST CO INC STATEMENT PERIOD August 30,2003 THROUGH September 30, 2003 TAXPAYER NUMBER On File LAST STATEMENT August 29, 2003 CREDIT AMOUNT 3,283,000.00 vata EFTA00195668

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 12 of 13 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) SETTLEMENT TRADE DATE DATE 09/29/03 TRANSACTION JOURNAL DESCRIPTION ADP CD FITM-PR SYMBOUCUSIP QUANTITY DEBIT AMOUNT 3,283,000.00 oe) ae sen a TT aT ae ssanenacenseseneensennsess _— | or FITM-PR 09/29/03 JOURNAL ADP CD 4,396,000.00 FITM-PR INTEREST ADP CD DUE 12/348 25 a, rT TOTAL MISCELLANEOUS DATE MO'DAY TRANSACTION JOURNAL DESCRIPTION FNMA-30YR(FNMA)GTD SETT.09/03 5,000 DUE 09/01/33 MBS NET 09/12/03 Seat TTR TT ETT SETT, 09/03 5.500 DUE 09/01/33 MBS NET 09/12/03 JOURNAL DEBIT AMOUNT 648,437.50 CREDIT AMOUNT 09/12/03 1059. $-1,708,648.44 027 10/01/03;10:84 001 $-15,995,000.00 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST CO INC STATEMENT PERIOO August 30,2003 September 30, 2003 TAXPAYER NUMBER On File THROUGH ACCOUNT NUMBER LAST STATEMENT August 29, 2003 CREDIT AMOUNT 3,283,000.00 1,045.09 $16,634,357.87 vata EFTA00195669

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Comp Bear, Stearns & Co. Inc. ne Metrotech Center North 383 Madison Avenue Brocklyn, New York 11201-3859 STEARNS —— 10179 FINANCIAL TRUST CO INC 13 of 13 STATEMENT PERIOD August 30,2003 THROUGH September 30, 2003 + account numccr = Trades Executed Pending Settlement TAXPAYER NUMBER On File LAST STATEMENT August 29, 2003 TRADE DATE DESCRIPTION FEDL HOME LOAN MTG SERIES 223 CLASS PO ile DEBIT AMOUNT GREDIT AMOUNT 65,000,000.00 98.4062 63,964,062.50 FNMA-30YA(FNMA) GTD SETT, 10/03 -15,000,000.00 98.9687 14,845,312.50 05.500% FNMA-3OYA(FNMA) GTD SETT, 10/03 05.500% AS OF 08/05 SETT, 10/03 05,500% 09/05/03 CANCEL SELL FNMA-3OYR(FNMA) GTD SETT, 10/03 -10,000,000.00 99.5312 9,953,125.00 | | | ee oisa6%sc6'o0 99.5312 9,953, 125.00 | | | 05.500% AS OF D8/05) TOTAL $76,789,257.80 $34,751 ,562.50 The above trades do not appear in any other section of this statement 027 10/01/03;10:54 001 va1a EFTA00195670

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OFFICE SERVICING YOUR ACCOUNT BEAR STEARNS ACCOUNT EXECUTIVE VISIT OUR WEBSITE GNMA GOVT BOND ww.bearstearns.com What's In This Statement Financial Summary ,. . 3 Your Portfolio Holdings . . 4 Transaction Detail ...cssseeeeneees ff Trades Not Yet Settled ween 19 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD 13,626,053 LONG ACCRUED INTEREST 210,286 NET CREDIT BALANCE 244 ——— CTT NET EQUITY LAST STATEMENT 19,252,646 CHANGE SINCE LAST STATEMENT -5,416,063 There are no "Stop Loss” orders or other pending buy or sell open orders on file for your account. Bear, Stearns & Co. Inc. 383 Madison Avenue New = New York 10179 FINANCIAL TRUST CO INC C/O JEFFREY EPSTEIN 6100 RED HOOK QUARTER STE B3 ST THOMAS VI 00802 Market Value of Your Portfolio $244 $531,555 Fixed 13.626.053 Income $18,500,041 HE current market value (BY Last statements market value Cash & Equivalent ‘This summary is for informational purposes only. It Is not 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 PERIOD July 26, 2003 August 29, 2003 accouvt nuwecr I TAXPAYER NUMBER On File July 25, 2003 THROUGH LAST STATEMENT Important Message Bear Stearns is pleased to announce our conversion to a calendar month-end statement. Effective September 2003, your account statement will reflect all activity and account valuation up to and including the last business day of the month. ‘This statemem should be retained for your records. See reverse side for important information. 027 (08/30/03;13:16 001 var2 EFTA00195671

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2 of 4 STATEMENT BACKER IS PRINTED ON THIS PAGE (08/3003;13:16 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC EFTA00195672

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue BEAR STEARNS 3 oft Cash Flow Analysis $531,555.12 OpeningBalance Securities Sold 37,638,376.55 Dividends/interest 887,353.09 Miscellaneous 529,666.62 Amount Credited $39,055,396.26 Securities Bought -36,628,000.00 Miscellaneous -2,958,706.92 $-39,586,706.92 Amount Debited Net Cash Activity -531 310.66 Cash Balance Summary OPENING CLOSING Margin 531,555.12 244.46 Net Cash Bal: $531,555.12 New York, New York 10179 Income Summary THS PERIOD YEAR TO DATE Govt. Agency Int. 774,898.10 f}126.965.15 Corp. Bond Int. 112,413.41 888,715.93 Credit Balance Int. 41.58 803.30 Reverse Repurchase Int. 3,376.55 16,060.93 $8,032,545.31 Bond Purchase Int. -50,156.82 -24.344.52 Repurchase Int. Exp. Portfolio Composition Cash/Cash Equivalent 244 Fixed Income 13,626,053 $13,626, 027 08/30103;13:15 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp ne Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 accowr nuvecs SS TAXPAYER NUMBER On File LAST STATEMENT July 25, 2003 Your Portfolio Allocation Fixed Income— 100% Unshaded portions denote debt balance andlor short market values. The alocation percentage is derived from the absohte market value of your portioiio. var2 EFTA00195673

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 4 on Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCRIPTION SYMBOLICUSIP QUANTITY PRICE CASH BALANCE TOTAL CASH & CASH EQUIVALENTS NAARKET CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 accouvt nuwecr I TAXPAYER NUMBER On File LAST STATEMENT duly 25, 2003 ESTIMATED (QURRENT FIXED INCOME Government & Agency Obligations ACCT DESCRIPTION SYMBOLCUSP TYPE QUANTITY FEDERAL HOME LOAN MTG CORP Hl trcn 13,761,373 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5,890% FACTOR = ,53468856 FEDERAL HOME LOAN MTG CORP | MRGN 49,517,820 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.000% FACTOR = 49517821 FEDERAL HOME LOAN MTG CORP rc 24,924,367 SERIES 2488 CLASS SO DATED DATE 07/08/02 BOOK ENTRY ONLY, DUE 03/15/2032 Ff.890% FACTOR = 49846736 FEDERAL HOME LOAN MTG CORP | MRGN 28,755,209 SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2032 5.890% FACT 8735 OR = .4984: VALUE ANNUAL INCOME YELD (%) 244 $244 ACCRUED ESTIMATED QURRENT PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD (%) 10.2416 1,409,390 31,523 810,545 57.5103 3.7670 1,865,312 19,260 495,178 26.5467 11.2050 2,792,769 66,780 1,717,289 61.4905 10.4299 2,999,138 65,864 1,693,682 56.4723 027 (08/3003;13:15 001 vai2 EFTA00195674

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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 | | FINANCIAL TRUST CO INC 5 of 14 STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 Your Portfolio Holdings (continued) account numecr = ( TAXPAYER NUMBER On File . . LAST STATEMENT duly 25, 2003 Government & Agency Obligations (continued) ACCT ACCRUED ESTIMATED CURRENT DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD (%) SERIES 2003-49 CLASS SW DATED DATE 04/30/03 BOOK ENTRY ONLY DUE 01/25/2033 5,890% FACTOR = ,86075034 Total Government& Agency Obligations $11,263,424 $197,119 $5,949,003 Corporate Bonds ACCT ACCRUED ESTIMATED CURRENT DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD (%) FANNIE MAE CMO/SERIES 2002-82 rc 17,077,216 13.8350 2,362,629 13,167 1,185,159 50.1627 = DATED DATE 10/02/02 BOOK ENTRY ONLY, DUE 10/25/2031 Boor FACTOR = .68308868 Total CorporateBonds $2,362,629 $13,167 $1,185,159 TOTAL FIXED INCOME $13,626,053 $210,286 [134.162 YOUR TOTAL ACCRUED INTEREST $210,286 YOUR TOTAL ESTIMATED ANNUAL INCOME Hh 134.162 YOUR PRICED PORTFOLIOHOLDINGS $13,626,297 o27 08/3003;13:15 001 vai2 EFTA00195675

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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 | | FINANCIAL TRUST CO INC | ao STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 Transaction Detail account wumccr = TAXPAYER NUMBER On File INVESTMENT ACTIVITY LAST STATEMENT — July 25, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBT AMOUNT GREOIT AMOUNT 08/07/03 JOURNAL FEDERAL HOME LOAN MTG CORP 5 ERIES 2530 CLASS SE 293 DUE 02/15/32 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 08-15-03 957,000 08/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 08-15-03 -892 08/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL 8.890 DUE 03/15132 PRINCIPAL REDUCTN 08-15-03 08/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL 5,890 DUE 03/15/32 PRINCIPAL REDUCTN 08-15-03 08/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP B20, 2488 CLASS SQ 890 DUE 03/15/32 ICIPAL REDUCTN 08-15-03 08/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP Beso: 2488 CLASS SQ 508,000 -878 890 DUE 03/15/32 RINCIPAL REDUCTN 08-15-03 08/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2526 CLASS SI 5,890 DUE 02/15/32 PRINCIPAL REDUCTN 08-15-03 496,000 SERIES 2526 CLASS SI 5,890 DUE 02/15/32 PRINCIPAL REDUCTN 08-15-03 027 (08/3003;13:15 001 vai2 EFTA00195676

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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 Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 FINANCIAL TRUST CO INC 14 I . STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 Transaction Detail (continued) accouvt numecr | TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT = July 25, 2003 SETTLEMENT TRADE Dw OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 08/25/03 PRINCIPAL FANNIE MAE CMO/SERIES 2002-82 08/25/03 PRINCIPAL FANNIE MAE CMOVSERIES 2002-82 —_— "392 K-VO FLTR 950 DUE 10/25/31 INCIPAL REDUCTN 08-25-03 SERIES 2003-49 CLASS SW 5,900 DUE 01/25/33 PRINCIPAL REDUCTN 08-25-03 08) PRINCIPAL FEDERAL NATIONAL MTG ASSN a "520 SERIES 2003-49 CLASS SW 8,900 DUE 01/25°33 PRINCIPAL REDUCTN 08-25-03 TOTAL INTEREST DATE OESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) CEBIT AMOUNT CREDIT AMOUNT 07/28/03 AVGBAL 146,204AT 41.58 021 OFFICE INTEREST 0: FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT QUE 03/15/2032. 1.000 INTEREST PAYMENT 08-15-03 08/15/03 FEDERAL HOME LOAN MTG CORP ay 5.8900 166,761.03 SERIES 2483 CL SL DUE 03/15/3032 5,890 INTEREST PAYMENT 08-15-03 027 (08/3003;13:15 001 vai2 EFTA00195677

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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 8 of STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 Transaction Detail (continued) accouvt numecr | TAXPAYER NUMBER On File INTEREST (continued) LAST STATEMENT July 25, 2003 DATE DESCRIPTION SYMBOLICUSIP QUANTITY RATE [%} DEBIT AMOUNT CREDIT AMOUNT 08/15/03 FEDERAL HOME LOAN MTG CORP | || 169,072.41 SERIES 2488 CLASS i] QUE 03/15/2032 .890 INTEREST PAYMENT 08-15-03 yaw 5.8900 79,842.71 FEDERAL HOME LOAN MTG CORP SERIES 2526 CLASS SI QUE 02/15/2032 §,890 INTEREST PAYMENT 08-15-03 u SERIES 2530 CLASS SE DUE 02/15/2032 290 8-15 REPO PYMT FANNIE MAE CMO/SERIES 2002-82 SK-/0 FLIR DUE 10/25/2031 950 INTEREST PAYMENT 08-25-03 yy SULT FEDERAL NATIONAL MTG ASSN — 5.9000 TTT 724 22 SERIES 2003-49 CLASS SW DUE 01/25/2033 5,900 INTEREST PAYMENT 08-25-03 TOTAL $887,353.09 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear, Stearns& Co.Inc. SETTLEMENT TRADE DATE DATE TRANSACTION DESCRETION SYMBOUCUSIP QUANTITY DEBIT AMOUNT CREDIT AMOUNT 07/29/03 JOURNAL ADP CD | 4,185,000.00 FITM-PR 40,000.00 027 08/3003;13:15 001 var2 EFTA00195678

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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 | a FINANCIAL TRUST CO INC 9 of 14 STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS {continued} LAST STATEMENT = July 25, 2003 SETTLEMENT TRADE DATE TRANSACTION DESCRPTION QUANTITY OESIT AMOUNT INTEREST ADP CD DUE 12/34 25 JOURNAL "ADP cD FITM-PR 3,880,000.00 TN ae DUE 12/3, 25 INTEREST 3,000,000.00 JOURNAL” INTEREST. ADP. CD FEDERAL HOME LOAN MTG CORP ex: 2530 CLASS SE JOURNAL -37,901,958 .293 DUI ae TMARGN Al ‘0 AGRI 027 08/30103;13:15 001 var2 EFTA00195679

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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 be FINANGIAL TRUST CO INC 10 of 4 STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 Transaction Detail (continued) accourr wuwccn (ES GB TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT = July 25, 2003 SETTLEMENT TRADE DATE TRANSACTION TION QUANTITY DEBIT AMOUNT CREDIT AMOUNT JOURNAL ADP CD EN aa JOURNAL ADP CD 3,000,000.00 FITM-PR oa" JOURNAL ‘ADP CD eee FITM-PR 3,765,000.00 INTEREST ‘ADP CD DUE 12/34 5 ‘ough 3,765,000.00 FITM-PR. 3.765,000.00 JOURNAL FITM-PR JOURNAL "ABP CB ew 5,000,000.00 FITM-PR 027 08/30103;13:15 001 var2 EFTA00195680

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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 Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 FINANCIAL TRUST CO INC 11 of 4 STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 Transaction Detail (continued) account numecr (IS TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS | (continued) LAST STATEMENT — July 25, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOUCUSIP QUANTITY CeBIT AMOUNT CREDIT AMOUNT INTEREST ADP CD DUE 12/345 25 JOURNAL ADP CD iio 5,000,000.00 JOURNAL ADP CD iio JOURNAL” 5,033,000.00 — a :_ == 5,000,000.00 — a DUE 12/345 25 TOTAL $-36,628,000.00 $37,638,376.55 MISCELLANEOUS TRANSACTION DESCRIPTION DEBIT AMOUNT (03 JOURNAL FITM TO FITG 531,596.00 ” “ 1856.257.00 67/30/03” JOURNAL FTA TO FITG 07/31/03 ‘ "305,085.00 FITM TOFITG “JOURNAL 027 08/30103;13:15 001 var2 EFTA00195681

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 12 of 4 Transaction Detail (continued) MISCELLANEOUS (continued) DATE MOVDAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 08/01/03 JOURNAL FITM TO FITG 250,000.00 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 P&l TRNFR SERIES 2471 CLASS YT 1,000 DUE 03/15/32 P&l TRNFR 08/21/03 JOURNAL FEDERAL HOME LOAN MTG CORP 14,618.92 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 P&!l TRNFR 08/27/03 JOURNAL FEDERAL NATIONAL MIG ASSN 380,596.70 TRIP MTG SERIES 322 CL PO 001 DUE 03/01/32 '&| TRNFR TOTAL $-2,958,706.92 $529,666.62 027 (08/3003;13:15 001 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 July 26, 2003 THROUGH August 29, 2003 accouvt nuwecr I TAXPAYER NUMBER On File LAST STATEMENT duly 25, 2003 vai2 EFTA00195682

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Comp Bear, Stearns & Co. Inc. ne Metrotech Center North 383 Madison Avenue Brocklyn, New York 11201-3859 STEARNS —— 10179 FINANCIAL TRUST CO INC 13 of 4 STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 . account numccr = Trades Executed Pending Settlement TAXPAYER NUMBER On File LAST STATEMENT duly 25, 2003 TRADE OATE DESCRIPTION ; DEBIT AMOUNT GREDIT AMOUNT 10,000,000.00 tl -10,000,000.00 94.9843 9,498,437.50 SETT,O903 BOUGHT FNMA 30YR GID _ 20,000,000.00 102.2500 20,450,000.00 SETT, 09/03 BOUGHT FNMA 30YAR GID SETT, 09/03 3 , 05.500% SETT, 09/03 05,500% AS OF O7f2er BOUGHT ENMA 30¥A GID _ 35,000,000.00 SETT, 09/03 05.500% 10,000,000.00 100.1093 10,010,938.00 99.4843 34,819,531.25 027 08/30103;13:15 001 var2 EFTA00195683

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp. Bear, Stearns & Co. Inc. ne Metrotech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 FINANCIAL TRUST CO INC 14 of 4 STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 . account numecr = Trades Executed Pending Settlement (continued) TAXPAYER NUMBER On File LAST STATEMENT duly 25, 2003 SETTLEMENT TRADE DATE OaTE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 03. 07/28/03 CANCEL BUY FNMA 30YR GTD 10,000,000.00 100.1093 10,010,938.00 SETI 3 AS OF TOTAL $85,438,281.75 $19,509,.375.50 The above trades do not appear in any other section of this statement (sroP] 027 (08/3003;13:15 001 vai2 EFTA00195684

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue Brooklyn, New York 11201-3859 | STEARNS _——-" 10179 ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSITE www.bearstearns.com What’s In This Statement Financial SUMMALY .....ssesssesesseesees serene Your Portfolio HOIGINGS ....s.sssssssesseeseeesene Transaction Detail ...... Trades Not Yet Settled Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD 18,500,041 LONG ACCRUED INTEREST 221,050 NET CREDIT BALANCE 531,555 TT ET TY YT NET EQUITY LAST STATEMENT 20,131,089 CHANGE SINCE LAST STATEMENT -878,443 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. Bear, Stearns Securities Corp. One Metrotech Center North FINANCIAL TRUST CO INC STATEMENT PERIOD June 28, 2003 THROUGH July 25, 2003 account xumccr = Hasalbssbealsllsssahil TAXPAYER NUMBER On File FINANCIAL TRUST CO INC LAST STATEMENT June 27, 2003 C/O JEFFREY EPSTEIN 6100 RED HOOK QUARTER STE B3 ST THOMAS VI 00802 Market Value of Your Portfolio Cash & Equivalent 4 Peogrcas Fixed 18,500,041 Income $19,744.476 HE current market value GB Last statements market value 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 027 07/26/03;10:09 001 vant EFTA00195685

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2 of 12 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 FINANCIAL TRUST CO INC EFTA00195686

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR STEARNS 3 of t2 383 Madison Avenue Cash Flow Analysis THIS PERIOD OpeningBalance $83,953.25 Securities Sold 57,559,955.57 Dividends/interest 958,046.83 Miscellaneous 10,330.47 Amount Credited $53,528 Securities Bought -57,908,750.00 Funds Withdrawn -77,381.00 Miscellaneous -94,600.00 Amount Debited $-58,080,731.00 Net Cash Activity 447,601.87 Cash Balance Summary OPENING CLOSING Margin 83,953.25 531,555.12 Net Cash Balance $531,555.12 $83,953.25 New York, New York 10179 Income Summary THiS PERIOD YEAR TO DATE Govt. Agency Int. 834,952.46 [h.352.067.05 Corp. Bond Int. 122,918.54 776,302.52 Credit Balance Int. 175.83 761.72 Reverse Repurchase Int. 2,119.97 12,684.38 Bond Purchase Int. | -50,156.82 || -24,344.52 Repurchase Int. Exp. Portfolio Composition Cash/Cash Equivalent 531,555 18,500,041 Fixed Income $19,031,596 027 07/26/03;10:03 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp ne Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD June 28, 2003 THROUGH duly 25, 2003 accowr nuvecs SS TAXPAYER NUMBER On File LAST STATEMENT dune 27, 2003 Your Portfolio Allocation Cash & Equivalent 2% — Fixed income 98% Unshaded portions denote debt balance andlor short market values. The alocation percentage is derived from the absohte market value of your portioiio. vant EFTA00195687

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 4 ore Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCRIPTION SYMBOLICUSIP QUANTITY CASH BALANCE TOTAL CASH & CASH EQUIVALENTS CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD June 28, 2003 THROUGH July 25, 2003 accouvt nuwecr I TAXPAYER NUMBER On File LAST STATEMENT June 27, 2003 FIXED INCOME Government & Agency Obligations ACCT DESCRIPTION SYMBOLCUSP TYPE FEDERAL HOME LOAN MTG CORP Hl trcn SERIES 2530 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY, DUE 02/15/2032 1 ae FACTOR = .63169930 FEDERAL HOME LOAN MTG CORP tec SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2022. 5.893% FACTOR = .63169930 FEDERAL HOME LOAN MTG CORP Etec SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.000% FACTOR = .58475713 FEDERAL HOME LOAN MTG CORP | MRGN SERIES 2488 CLASS SO DATED DATE 07/08/02 BOOK ENTRY ONLY, DUE 03/15/2032 Bess% FACTOR = ,58866492 16,258,155 NAABKET ESTIMATED — CURRENT PRICE VALUE ANNUAL INCOME —_YELD (%} 531,555 $531,555 ACCRUED ESTIMATED CURRENT QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD (%} 37,901,953 9.6816 3,669,527 66,258 2,385,170 64.9994 9.5702 1,555.931 26,612 958,093 61.5768 8,475,712 3.7118 2.170.484 16,240 584,757 26.9413 29,433,245 10.1225 2,979,394 56,355 2,028,834 68.0955 027 07/26/03;10:03 001 vant EFTA00195688

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 5 of 12 Your Portfolio Holdings (continued) Government & Agency Obligations (continued) DESCRIPTION SYMBOLCUSP SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2082. 5,893% FACTOR = ,58866491 FEDERAL NATIONAL MTG ASSN | MRGN SERIES 2003-49 CLASS SW DATED DATE 04/30/03 DUE 01/25/2033 5.965% FACTOR = .93486634 Total Government& Agency Obligations CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD June 28, 2003 THROUGH July 25, 2003 accouvt nuwecr I TAXPAYER NUMBER On File LAST STATEMENT June 27, 2003 ACCRUED ESTIMATED CURRENT PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD (%) 10.0781 2.290.110 1,355,461 59.1876 $15,957,032 $221,050 $9,313,407 Corporate Bonds ACCT ACCRVED ESTIMATED CURRENT DESCRIPTION SYMBOLCUSP TYPE PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD [*} FANNIE MAE CMO/SERIES 2002-82 rc 13.1019 2,543,009 1,361,577 53.5420 SK-V0 FLTA DATED DATE 10/02/02 BOOK ENTRY ONLY, DUE 10/25/2031 Boise FACTOR = ,77638036 Total CorporateBonds $2,543,009 Be sas,361,577 TOTAL FIXED INCOME $18,500,041 $221,050 $10,674,984 YOUR TOTAL ACCRUED INTEREST $221,050 YOUR TOTAL ESTIMATED ANNUAL INCOME $10,674,984 YOUR PRICED PORTFOLIOHOLDINGS $19,031,596 027 07/26/03;10:03 001 vant EFTA00195689

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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 STATEMENT PERIOD June 28, 2003 THROUGH July 25, 2003 Transaction Detail account numccr = TAXPAYER NUMBER On File INVESTMENT ACTIVITY LAST STATEMENT June 27, 2003 SETTLEMENT TRADE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT PRINCIPAL FEDERAL NATIONAL MTG ASSN -289,086 boo: MTG SERIES 322 CL PO 1.001 DUE 03/01/32 INCIPAL REDUCTN 07-25-03 O7/14i03 07/07/03 CANCEL SELL FNMA-3OVA(FNMA)GID | 30,000,000 102.93750 20,587,500.00 SETT.07/03 hehe 05,500% AS OF 07/077 TO CXL PREVIOUS SELL SETT.O7/03 nvee 05, 500% 07/14103 06/05/03 CANCEL BUY FNMA-3OVA(FNMA}GTD ‘00 SETT,07/03 -20,000,000 103.40625 20,681 ,250.00 FNMA-3OVA(FNMAGTD -_|—hCo “20,000,000 102.93750 20,587,500.00 05, 500% AS OF O60! TO CXL PREVIOUS BUY SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 07-15-03 FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 07-15-03 — “251 PRINCIPAL 027 07/26/03;10:03 001 vant EFTA00195690

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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 FINANCIAL TRUST CO INC Tee STATEMENT PERIOD June 28, 2003 THROUGH July 25, 2003 Transaction Detail (continued) accouvt numecr | TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT June 27, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBT AMOUNT GREOIT AMOUNT PRINCIPAL FEDERAL HOME LOAN MTG CORP -3,665,000 SERIES 2483 CL SL 5,893 DUE 03/15/32 PRINCIPAL REDUCTN 07-15-03 07/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL 5,893 DUE 03/15/32 PRINCIPAL REDUCTN 07-15-03 893 DUE 03/15/32 Bess: 2488 CLASS SQ RINCIPAL REDUCTN 07-15-03 893 DUE 03/15/32 bess: 2488 CLASS SQ RINCIPAL REDUCTN 07-15-03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -3,772,000 ERIES 2530 CLASS SE 293 DUE 02/15/32 INCIPAL REDUCTN 07-15-03 a a o7/i5/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP |i 724 a ae 93 DUE 02/15/32 ies: 2530 CLASS SE INCIPAL REDUCTN 07-15-03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2526 CLASS SI 5,893 DUE 02/15/32 PRINCIPAL REDUCTN 07-15-03 o7/15103 PRINCIPAL FEDERAL HOME LOAN MTG CORP i “169 -1,618,000 SERIES 2526 CLASS SI $,893 DUE 02/15/32 PRINCIPAL REDUCTN 07-15-03 07/25/03 JOURNAL FEDERAL NATIONAL MTG ASSN TRIP MTG SERIES 322 CL PO 001 DUE 03/01/32 JUST POSITION 027 07/26/03;10:03 001 vant EFTA00195691

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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 FINANCIAL TRUST CO INC 8 of 12 STATEMENT PERIOD June 28, 2003 THROUGH July 25, 2003 Transaction Detail (continued) account numecr (IS TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT June 27, 2003 SETTLEMENT TRADE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT GREDIT AMOUNT PRINCIPAL FEDERAL NATIONAL MTG ASSN 289,085.60 ee MTG SERIES 322 CL PO 1.001 DUE 03/01/32 INCIPAL PAYMENT 07-25-03 o7/25103 PRINCIPAL FANNIE MAE CMOVSERIES 2002-82 K-VO FLTR 015 DUE 10/25/31 INCIPAL REDUCTN 07-25-03 015 DUE 10/25/31 RINCIPAL REDUCTN 07-25-03 i vO FLIR SERIES 2003-49 CLASS SW 5,965 DUE 01/25/33 PRINCIPAL REDUCTN 07-25-03 Pt PRINCIPAL FEDERAL NATIONAL MTG ASSN lO Pe 07/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN -371 SERIES 2003-49 CLASS SW 5.965 DUE 01/25/33 PRINCIPAL REDUCTN 07-25-03 TOTAL $-41,268,750.00 $41,557,835.60 DEPOSITS AND WITHDRAWALS DATE TRANSACTION DESCRPTION DEBIT AMOUNT CREDIT AMOUNT 07/02/03 FND WIRED WIRED TO 77,381.00 ee TOTAL $-77,381.00 o2? 07/2603;10:09 001 vant EFTA00195692

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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 Brocklyn, New York 11201-3859 STEARNS _—€€ 10179 9 of 12 FINANCIAL TRUST CO INC STATEMENT PERIOD June 28, 2003 THROUGH Transaction Detail (continued) July 25, 2003 account numccr IS TAXPAYER NUMBER On File INTEREST LAST STATEMENT —_ June 27, 2003 DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE [%) DEBIT AMOUNT CREDIT AMOUNT 06/30/03 AVGBAL 447,172RT 175.83 021 OFFICE INTEREST 01 FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT QUE 03/15/2032 1,000 INTEREST PAYMENT 07-15-03 SERIES 2483 CL SL DUE 03/15/2032 5,893 INTEREST PAYMENT 07-15-03 07/15/03 FEDERAL HOME LOAN MTG CORP SERIES 2488 CLASS | QUE 03/15/2032 893 | , 6h 76000 45,891.34 182,469.29 a i 7) INTEREST PAYMENT 07-15-03 SERIES 2530 CLASS DUE 02/15/2032 293 INTEREST PAYMENT 07-15-03 a eC SERIES 2526 CLASS SI QUE 02/15/2032 5,89: INTEREST PAYMENT 07-15-03 SK-/0 FLIR DUE 10/25/2031 015 INTEREST PAYMENT 07-25-03 SERIES 2003-49 CLASS SW QUE 01/25/2033 5,965 INTEREST PAYMENT 07-25-03 TOTAL $958,046.83 027 07/26/03;10:03 001 vant EFTA00195693

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OFFICE SERVICING YOUR ACCOUNT 10 of 12 STATEMENT PERIOD June 28, 2003 THROUGH July 25, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS LAST STATEMENT June 27, 2003 with Bear,Stearns& Co. Inc. SETTLEMENT TRADE DATE TRANSACTION DESCRPTION 255 QUANTITY CESIT AMOUNT EDIT AMOUNT JOURNAL FEDERAL NATIONAL MTG ASSN -599,843 iP MTG SERIES 322 CL PO JOURNAL 5,300,000.00 INTEREST 142950 JOURNAL 5.300,000.00 FITM-PR FITM-PR 5,300,000.00 Yo46°500°G0 027 07/26/03;10:03 001 vant C Bear, Steams Securities Comp Bear, Stearns & Co. Inc. One Metratech Center North 383 Madison Avenue Brocklyn, New York 11201-3859 STEARNS New York. New York 10179 | a FINANCIAL TRUST CO INC EFTA00195694

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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 Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 | | FINANCIAL TRUST CO INC 11 of t2 STATEMENT PERIOO June 28, 2003 THROUGH July 25, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS {continued} LAST STATEMENT = June 27, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRETION SYMBOUCUSIP (QUANTITY OESIT AMOUNT CREDIT AMOUNT O78 INTEREST ADP CD | 690.47 Dui 25 a | a TRIP MTG SERIES 322 CL PO .001 DUI veh ll TERM REI NT 07/24/03 JOURNAL FEDERAL NATIONAL MTG ASSN a "2,999,217 TRIP MTG SERIES 322 CL PO 001 DUI p MARGN A REPO AGA LT a a kre ToT cc a jaaaiaa 17k farcaiaiaaaaaaaaaae aaa SERIES 2471 CLASS YT FITMARGN A2 TERM REs NT TOTAL $-16,640,000.00 $16,002,119.97 MISCELLANEOUS DATE MODAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 07/11/03 JOURNAL FNMA-30YR(FNMA)GTD 93,750.00 SETT,O7/03 §.500 DUE 07/01/33 MBS NET 07/11/03 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 Pi TRNFA 027 07/26/03;10:09 001 vant EFTA00195695

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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 fl Le FINANCIAL TRUST CO INC 12 of 12 STATEMENT PERIOD June 28, 2003 THROUGH July 25, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File MISCELLANEOUS {continued) LAST STATEMENT — June 27, 2003 DATE MO'DAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 07/21/03 JOURNAL FITG TO FITI 2,232.00 TOTAL $-94,600.00 $10,330.47 Trades Executed Pending Settlement SETTLEMENT TRADE DATE DEBIT AMOUNT CREDIT AMOUNT SYMBOLICUSIP TRANSACTION 06/17/03 BOUGHT 10,000,000.00 101.4687 10,146,875.00 102.2500 20,450,000.00 BOUGHT FNMA 30VR GID . mmee""30,000.000.00 SETT, 09/03 2305, S00% $30,596,875.00 The above trades co not appear in any other section of this stalement (stop) **e*** End of Statement™***** 027 07/2603;10:09 001 vant EFTA00195696

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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 BEAR 383 Madison Avenue Brocklyn, New York 11201-3859 STEARNS New York New York 10179 | FINANCIAL TRUST CO ING ACCOUNT EXECUTIVE + GNMA GOVT BOND STATEMENT PERIOD May 31,2003 VISIT OUR WEBSITE waw.bearstearns.com THROUGH June 27, 2003 . ACCOUNT NUMBER FY i | What's In This Statement Hava daeboclsleanselil TAXPAYER NUMBER On File LAST STATEMENT May 30, 2003 Financial SUMMALY wees — S FINANCIAL TRUST CO INC Your Portfolio HoldingS essences 4 C/O JEFFREY EPSTEIN . , 6100 RED HOOK QUARTER Transaction Detail ..... I STE B3 Trades Not Yet Settled 13 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio $83,953 TOTAL VALUE OF SECURITIES THIS PERIOD © 19,744,476 —“a8h & Equivalent 4 $128,074 Income $23,876,335 NET CREDIT BALANCE 83,953 suscusncesensenss censocssncessncusncenss ss ensescnessncesscesnesssssnnsesncess fesca Current market value NET EQUITY THIS PERIOD $20,131,089 HEY Last statement’s market value NET EQUITY LAST STATEMENT 24,422,603 CHANGE SINCE LAST STATEMENT ~4,291,514 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. 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. oz? 06/28103;11:38 001 vas EFTA00195697

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2 of 13 STATEMENT BACKER IS PRINTED ON THIS PAGE (06/28/03;11:28 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC vaoa EFTA00195698

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR STEARNS 3 of 13 383 Madison Avenue Cash Flow Analysis OpeningBalance $128,074.40 82,874,936.25 Securities Sold Dividends/Interest 995,092.35 Miscellaneous 494,356.75 Amount Credited $84,364,385.35 -84,399,062.25 Securities Bought Miscellaneous -9,444.25 Amount Debited $-84.408.506.50 Net Cash Activity 4412115 Cash Balance Summary OPENING CLOSING Margin 128,074.40 83,953.25 $83,953.25 Net Cash Balance $128,074.40 New York, New York 10179 Income Summary THS PERIOD YEAR TO DATE Govt. Agency Int. 872,169.36 §,517,114.59 Corp. Bond Int. 122,709.53 653,383.98 Credit Balance Int. 213.46 585.89 Reverse Repurchase Int. 1,320.35 10,564.41 Bond Purchase Int. | -50,156.82 Repurchase Int. Exp. || -24,344.52 Portfolio Composition Cash/Cash Equivalent 83,953 Fixed Income 19.744.476 $19,828,429 027 06/28/03;11:38 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp ne Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOO May 31,2003 THROUGH dune 27, 2003 accowr nuvecs SS TAXPAYER NUMBER On File LAST STATEMENT — May 30, 2003 Your Portfolio Allocation Cash & Equivalent <1% “ Fixed Income 99% Unshaded portions denote debt balance andlor short market values. The alocation percentage is derived from the absohte market value of your portioiio. vaoa EFTA00195699

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 4 on Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCRIPTION SYMBOU'CUSIP QUANTITY CASH BALANCE TOTAL CASH & CASH EQUIVALENTS 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 May 31, 2003 THROUGH June 27, 2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT May 30, 2003 FIXED INCOME Government & Agency Obligations ACCT DESCRIPTION SYMBOLCUSP TYPE FEDERAL HOME LOAN MTG CORP Hl trcn SERIES 2530 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY, DUE 02/15/2032 9.220% FACTOR = .69457214 FEDERAL HOME LOAN MTG CORP | MRGN SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5.820% FACTOR = 69457214 FEDERAL NATIONAL MTG ASSN rc STRIP MTG SERIES 322 CL PO DATED DATE 03/01/02 BOOK ENTRY ONLY DUE 03/01/2082 .001% FACTOR = 1,00000000 FEDERAL HOME LOAN MTG CORP | MRGN SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.000% FACT OR = .64787773 17,876,324 NAABKET ESTIMATED — CURRENT PRICE VALUE ANNUAL INCOME —_YELD (%} 83,953 $83,953 ACCRUED ESTIMATED CURRENT QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD (%} 41,674,323 8.0453 3,352,813 86,406 2,592,143 77.3125 8.1907 1,464,201 34,681 1,040,402 71.0560 3,288,302 92.7109 3,048,616 2 33ltsid 55,069,607 2.6940 1,483,592 18,351 550,696 37.1191 o27 06/28/03;11:28 001 vaoa EFTA00195700

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 5 of 13 Your Portfolio Holdings (continued) Government & Agency Obligations (continued) DESCRIPTION SYMBOLCUSP SERIES 2488 CLASS SQ DATED DATE 07/08/02 BOOK ENTRY ONLY, DUE 03/15/2032 Be20% FACTOR = ,65220/33 FEDERAL HOME LOAN MTG CORP | MRGN SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2032 5.820% FACTOR = 65220732 FEDERAL NATIONAL MTG ASSN rc SERIES 2003-49 CLASS SW DATED DATE 04/30/03 BOOK ENTRY ONLY DUE 01/25/2033 5.965% FACTOR = ,98112390 Total Government& Agency Obligations Corporate Bonds ACCT DESCRIPTION SYMBOLCUSP TYPE FANNIE MAE CMO/SERIES 2002-82 rc SK-INO FLTA DATED DATE 10/02/02 BOOK ENTRY ONLY, DUE 10/25/2031 Boiss FACTOR = .84106/69 Total CorporateBonds CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD May 31, 2003 THROUGH June 27, 2003 accouvt nuwecr I TAXPAYER NUMBER On File LAST STATEMENT May 30, 2003 ESTIMATED CURRENT ANNUAL INCOME YELD (%) 2,189,632 70.8700 1,422,530 59.7434 $10,019,463 ESTIMATED QURFENT ANNUAL INCOME YELD ["} 1,475,022 63.4174 $1,475,022 TOTAL FIXED INCOME $11,494,485 (06/28/03;11:38 001 vaos EFTA00195701

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS of 13 Your Portfolio Holdings (continued) YOUR TOTAL ACCRUED INTEREST $302,660 YOUR TOTAL ESTIMATED ANNUAL INCOME $11,494,485 YOUR PRICED PORTFOLIOHOLDINGS $19,828,429 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE OATE TRANSACTION CESCRIPTION SYMBOLICUSIP QUANTITY PRICE 06/09/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN -240,643 ioe: MTG SERIES 322 CL PO 001 DUE 03/01/32 RINCIPAL REDUCTN 06-25-03 001 DUE 07/01/32 ior SERIES 326 CLASS 1 PO RINCIPAL REDUCTN 06-25-03 06/12/03 06/10/03 SOLD FEDERAL NATIONAL MTG ASSN STRIPS SERIES 326 CLASS 1 PO nee 00,0015 BS 06/12/03 05/07/03 BOUGHT FNMA-3OVA(FNMA)GTD SETT.06/03 une 05,500% 027 20,000,000 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST CO INC STATEMENT PERIOD May 31, 2003 THROUGH June 27, 2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT May 30, 2003 DEBIT AMOUNT CREDIT AMOUNT (06/28/03;11:38 001 561,835 95.14063 {0271875 20,543,750.00 vaca 3,388,752.75 EFTA00195702

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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 Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 fl FINANCIAL TRUST CO INC | of 13 STATEMENT PERIOO May 31, 2003 THROUGH June 27, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT May 30, 2003 SETTLEMENT TRADE DATE oar DATE DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 3 06/05/03 CANCEL SELL FNMA-30YA(FNMA)GTD 20,000,000 103.73828 20,747,656.00 0: 3 AS OF OBU5’ TO CXL PREVIOUS CANCEL SELL FNMA-3OYA(FNMA)GTD SETT.O6/03 ‘ 05, 500% 20,000,000 103.73828 20,747,656.25 AS OF OB/05! TO CXL PREVIOUS AS OF 05/077 TO CXL PREVIOUS BUY a att -20,000,000 103.73828 20,747,656.00 FNMA-3OYA(FNMA)GTD SETT.O6/03 05, 500% -20,000,000 103.73828 20,747,656.25 FENMA-3OVA(FNMAJGTD SETT,06'03 f 05.500% BS AS OF OB/05! JOURNAL FEDERAL NATIONAL MTG ASSN , is SERIES 326 CLASS 1 PO 001 DUE 07/01/32 JUST POSITION 027 06/28/03;11:38 001 vaoa EFTA00195703

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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 8 of 13 STATEMENT PERIOD May 31,2003 THROUGH June 27, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT = May 30, 2003 SETTLEMENT TRADE DA’ OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 06/16/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -4,391,000 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 06-15-03 06/16/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP — "293 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 06-15-03 SERIES 2483 CL SL 5,820 DUE 03/15/32 PRINCIPAL REDUCTN 06-15-03 SERIES 2483 CL SL 5,820 DUE 03/15/32 PRINCIPAL REDUCTN 06-15-03 06/16/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP ERIES 2488 CLASS SO i 820 DUE 03/15/32 INCIPAL REDUCTN 06-15-03 -2,600,000 P| 06/16/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP a a P| 820 DUE 03/15/32 ie, 2488 CLASS SQ INCIPAL REDUCTN 06-15-03 PRINCIPAL FEDERAL HOME LOAN MTG CORP o20, 2530 CLASS SE -3,149,000 1.090 DUE 02/15/32 RINCIPAL REDUCTN 06-15-03 06/16/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP | “158 Keec. 2530 CLASS SE 1.090 DUE 02/15/32 INCIPAL REDUCTN 06-15-03 oa 16103 PRINCIPAL FEDERAL HOME LOAN MiG CORP — Mery) SERIES 2526 CLASS SI 5,820 DUE 02/15/32 PRINCIPAL REDUCTN 06-15-03 027 (06/28/03;11:38 001 vaos EFTA00195704

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 9 of 13 Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST CO INC STATEMENT PERIOD May 31,2003 THROUGH Transaction Detail (continued) June 27, 2003 account numccr IS TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) SETTLEMENT TRADE DAY OATE TRANSACTION PRINCIPAL DESCRIPTION SYMBOLICUSIP QUANTITY PRICE FEDERAL HOME LOAN MTG CORP -840 SERIES 2526 CLASS SI 5,820 DUE 02/15/32 PRINCIPAL REDUCTN 06-15-03 PRINCIPAL FEDERAL NATIONAL MTG ASSN TRIP MTG SERIES 322 CL PO 001 DUE 03/01/32 INCIPAL PAYMENT 06-25-03 TRIPS SERIES 326 CLASS 1 PO 001 DUE 07/01/32 RINCIPAL PAYMENT 06-25-03 06) PRINCIPAL FANNIE MAE CMO/SERIES 2002-82 i: VO FLTR -853,165 1.730 DUE 10/25/31 RINCIPAL REDUCTN 06-25-03 LAST STATEMENT DEBIT AMOUNT May 30, 2003 CREDIT AMOUNT 240,642.60 O6/25103 PRINCIPAL FEDERAL NATIONAL MTG ASSN — rcs SERIES 2003-49 CLASS SW 5,680 DUE 01/25/33 PRINCIPAL REDUCTN 06-25-03 TOTAL $-62,039,062.25 _ $65.913,615.90 INTEREST DATE CESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) OEBIT AMOUNT CREDIT AMOUNT 06/02/03 AVGBAL 391.997RT I 213.46 021 OFFICE INTEREST 0503 FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT QUE 03/15/2032 1,000 INTEREST PAYMENT 06-15-03 49,550.75 1.0000 027 (06/28/03;11:38 001 vaos EFTA00195705

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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 10 of 19 STATEMENT PERIOD May 31, 2003 THROUGH June 27, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File INTEREST (continued) LAST STATEMENT = May 30, 2003 DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE [%) DEBIT AMOUNT CAEDIT AMOUNT 06/16/03 FEDERAL HOME LOAN MTG CORP ma 5.8200 192,618.75 SERIES 2483 CL SL QUE 03/15/2032 5,820 INTEREST PAYMENT 06-15-03 6.8200 196,299.88 FEDERAL HOME LOAN MTG CORP SERIES 2488 CLASS 50 DUE 03/15/2032 820 INTEREST PAYMENT 06-15-03 SERIES 2530 CLASS DUE 02/15/2032 090 INTEREST PAYMENT 06-15-03 06/16/03 FEDERAL HOME LOAN MTG CORP 5.8200 91-168.80 SERIES 2526 CLASS SI DUE 02/15'2032 5,820 INTEREST PAYMENT 06-15-03 FANNIE MAE CMOVSERIES 2002-82 — SK-U0 LTR DUE 10/25/2031 _ f.730 INTEREST PAYMENT 06-25-03 122,709.53 eo sees 0 SERIES 2003-49 CLASS SW QUE 01/25/2033 5,680 INTEREST PAYMENT 06-25-03 TOTAL $995,092.35 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear,Stearns& Co.Inc. SETTLEMENT TRADE ATE ov DATE TRANSACTION DESCRPTION SYMBOUCUSIP: QUANTITY DESIT AMOUNT CREDIT AMOUNT 06/13/03 JOURNAL ADP CD [ 3,720,000.00 FITM-PR 027 (06/28/03;11:38 001 vaos EFTA00195706

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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 | a FINANCIAL TRUST CO ING 11 ots STATEMENT PERIOO May 31,2003 THROUGH dune 27, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT = May 30, 2003 SETTLEMENT TRADE DATE TRANSACTION IPTION QUANTITY CESIT AMOUNT CREDIT AMOUNT JOURNAL ADP CD EE aa JOURNAL ‘ADP CD 3,720,000.00 FITM-PR win JOURNAL ‘ADP CD eee FITM-PR 4,760,000.00 INTEREST ‘ADP CD DUE 12/34 25 4,760,000.00 JOURNAL FITM-PR. 4.760,000.00 JOURNAL FITM-PR JOURNAL "ABP CB ew 5,400,000.00 FITM-PR 027 06/28/03;11:38 001 vaoa EFTA00195707

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 12 of 13 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASETRANSACTIONS (continued) SETTLEMENT TRADE DATE DATE TRANSACTION INTEREST DESCRIPTION SYMBOUCUSIP (QUANTITY ADP CD DUE 12/345 25 06/27) TOTAL MISCELLANEOUS DEBIT AMOUNT 700.00 CREDIT AMOUNT TRANSACTION JOURNAL DESCRIPTION MAY O3 SPEC CLEARING FEES ) SETT.O6/03 5.500 DUE 06/01/33 MBS NET 06/12/03 ORP JOURNAL SERIES 2471 CLASS YT 1,000 DUE 03/15/32 P&l TRNFR JOURNAL FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PAI TRNFR JOURNAL FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRI TRNFR 8.744 25 $-9,444.25 $494,356.75 027 (06/28/03;11:38 001 DEBIT AMOUNT $-22,.360.000.00 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 May 31, 2003 June 27, 2003 account numccr IS TAXPAYER NUMBER On File May 30, 2003 THROUGH LAST STATEMENT CREDIT AMOUNT 391.38 $16,961,320.35 vaos EFTA00195708

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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 fl FINANCIAL TRUST CO INC 13 of 13 STATEMENT PERIOO May 31, 2003 THROUGH dune 27, 2003 + account numccr = Trades Executed Pending Settlement TAXPAYER NUMBER On File LAST STATEMENT May 30, 2003 SETTLEMENT TRADE DATE DATE DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT GREDIT AMOUNT 20,000,000.00 103.4062 20,681 ,250.00 10,146,875.00 10,000,000.00 101.4687 $30,828,125.00 TOTAL The above trades do not appear in any other section of this statement [stop] **e*** End of Statement™***** 027 (06/28/03;11:28 001 vao8 EFTA00195709

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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 Brocklyn, New York 11201-3859 STEARNS New York. New York 10179 | | FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE GNMA GOVT BOND STATEMENT PERIOD April 26,2003 VISIT OUR WEBSITE www.bearstearns.com THROUGH May 30, 2003 . ACCOUNT NUMBER FY i | What’s In This Statement | PPR | ery end eee TAXPAYER NUMBER On File LAST STATEMENT April 25, 2003 Financial SUMMALY aussie — 3 FINANCIAL TRUST CO INC Your Portfolio Holdings . 4 aa oe one bute . . 100 Transaction Detail ... tensa i STE BS Trades Not Yet Settled 15 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio 128,074 TOTAL VALUE OF SECURITIES THIS PERIOD 23,876,335 Cash & Equivalent govow soecerekmee a ie ul NET CREDIT BALANCE 128,074 Income $21,183,308 Se a mrt HE current marset vatue ‘seveeeenennnn4unsssannunuuunussssusuuuse sss suusucseseseneeseeeee iss eeeeeeenson8 SHGH Last statements market value NET EQUITY LAST STATEMENT 21,444,251 CHANGE SINCE LAST STATEMENT 2,978,353 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. 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 information. oz? 08/31/03;15:30 001 wees EFTA00195710

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2 of 15 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 FINANCIAL TRUST CO INC veds EFTA00195711

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR STEARNS 3 of 15 383 Madison Avenue Cash Flow Analysis THIS PERIOD $97,943.89 OpeningBalance 93,187,950.43 987,495.06 Securities Sold Dividends/interest Miscellaneous 2,270,988.66 Amount Credited $96,446.434.15 Securities Bought -96,034,964.30 Dividends/Interest Charged -19.175.34 Miscellaneous -362,164.00 Amount Debited Net Cash Activity Cash Balance Summary OPENING CLOSING Margin 97,943.89 128,074.40 Net Cash Balance $128,074.40 $97,943.89 New York, New York 10179 Income Summary THiS PERIOD YEAR TO DATE Govt. Agency Int. 858,912.79 4,644,945.23 Corp. Bond Int. 128,482.02 530,674.45 Credit Balance Int. 100.25 372.43 Reverse Repurchase Int. 5,131.07 9,244.06 Bond Purchase Int. -19,175.34 -50,156.82 Repurchase Int. Exp. -10,991.93 -24.344.52 Portfolio Composition Cash/Cash Equivalent 128,074 Fixed Income 23,876,335 $24,004.409 027 08/31/03;15:30 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp One Metrotech Center North Brockln, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOO April 26,2003 THROUGH May 30, 2003 accowr nuvecs SS TAXPAYER NUMBER On File LAST STATEMENT — April 25, 2003 Your Portfolio Allocation Cash & Equivalent <1% “ Fixed Income 99% Unshaded portions denote debt balance andicr short market values. The alocation percentage is derived from the absohte market value of your portiotio. v644 EFTA00195712

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 4 of15 Your Portfolio Holdings CASH & CASH EQUIVALENTS MARKET ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (%) CASH BALANCE 128.074 TOTAL CASH & CASH EQUIVALENTS $128,074 FIXED INCOME Government & Agency Obligations ACCT ACCRUED DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST FEDERAL HOME LOAN MTG CORP rc 44,823,481 MMMM 3.382.158 9 113,742 SERIES 2530 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY DUE 02/15/2032 Boao FACTOR 74705810 FEDERAL HOME LOAN MTG CORP a acs 19,227,164 ee T4083 as 583 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5,690% FACTOR = .74705810 FEDERAL NATIONAL MTG ASSN a acs 3,528,945 93.7734 3.309.213 3 STAIP MTG SERIES 322 CL PO DATED DATE 03/01/02 BOOK ENTRY ONLY DUE 03/01/2032 .001% FACTOR = .95858130 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.000% FACTOR 69954000 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 April 26,2003 THROUGH May 30, 2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT April 25, 2003 ESTIMATED CURRENT ANNUAL INCOME YIELD (%) 2,729,750 80.7103 {094.026 73.3816 | $94.609 40.7712 027 06/31/03;15:20 001 Weds EFTA00195713

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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 | FINANCIAL TRUST CO INC 5 of 15 STATEMENT PERIOD April 26,2003 THROUGH May 30, 2003 Your Portfolio Holdings (continued) sconce A TAXPAYER NUMBER On File LAST STATEMENT April 25, 2003 Government & Agency Obligations (continued) DESCRIPTION SYMBOLCUSP 7 ACCRUED ESTIMATED CURRENT QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD (%) SERIES 2488 CLASS SQ DATED DATE 07/08/02 BOOK ENTRY ONLY, DUE 03/15/2032 9f.690% FACTOR = .70421480 SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2032 5,690% FACTOR = .70421480 FEDERAL NATIONAL MTG ASSN ae acs 3,806,994 93.4609 3,558,052 3 38 STRIPS SERIES 326 CLASS 1 PO DATED DATE 07/01/02 BOOK ENTRY ONLY DUE 07/01/2032 _,001% FACTOR 60800 SERIES 2003-49 CLASS SW INTEREST FROM DATE 05/25/03 DATED DATE 04/30/03 FIRST COUPON 06/25/2003 BOOK ENTRY ONLY DUE 01/25/2033 5.680% FACTOR = 1,00000000 Total Government& Agency Obligations $21,630,307 $397,744 $10,466,106 027 06/31/03;15:20 001 V644 EFTA00195714

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 Tos Your Portfolio Holdings (continued) Corporate Bonds ACCT DESCRIPTION SYMBOLCUSP TYPE FANNIE MAE CMO/SERIES 2002-82 SK-I/0 FLTR DATED DATE 10/02/02 BOOK ENTRY ONLY, DUE 10/25/2031 ff.730% FACTOR = .8751 PRICE 10.2653 ACCRUED MARKET VALUE INTEREST 2,246,028 20,450 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST CO INC STATEMENT PERIOO April 26,2003 THROUGH May 30, 2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT April 25, 2003 ESTIMATED CURRENT ANNUAL INCOME YELD (%) 1,472,514 65.5608 Total CorporateBonds $2,246,028 $20,450 $1,472,514 TOTAL FIXED INCOME $23,876.335 $418,194 $11,938,620 YOUR TOTAL ACCRUED INTEREST $418,194 YOUR TOTAL ESTIMATED ANNUAL INCOME $11,938,620 YOUR PRICED PORTFOLIOHOLDINGS $24,004,409 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE OATE TRANSACTION CESCRIPTION QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 05/12/03 05/07/03 SOLD FEDERAL NATIONAL MTG ASS 101.06250 214,922.36 SERIES 2003-16 CLASS JS ACCA. INT. 33,880.83 ? 10,050 REF # 027 06/31/03;15:20 001 Weds EFTA00195715

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BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 Transaction Detail (continued) INVESTMENT ACTIVITY (continued) SETTLEMENT TRADE DATE OATE BOUGHT CANCEL BUY JOURNAL TRANSACTION DESCRIPTION FEDERAL NATIONAL MTG ASSN STRIPS SERIES 326 CLASS 1 PO {O01 00.001% REF # BS TO ADJ PREVIOUS MONTH'S FACTOR AS OF 04/29/03 SETT.OS/03 DUE 05/01/2033 05,500% es :: AS OF 03/24/03 TO CXL PREVIOUS BUY FEDERAL NATIONAL MTG ASS CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST CO INC STATEMENT PERIOO April 26,2003 THROUGH May 30, 2003 account numccr = TAXPAYER NUMBER On File LAST STATEMENT April 25, 2003 DEBIT AMOUNT 3,388,224.66 DIT AMOUNT 20,620,312.50 20,187,500.00 SERIES 2003-16 CLASS JS 10,050 DUE 03/25/18 "REBERAL HOME LOAN MITE CORP” SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 05-15-03 08/31/03;15:30 001 v644 EFTA00195716

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BEAR STEARNS 8 of 15 Transaction Detail (continued) INVESTMENT ACTIVITY (continued) SETTLEMENT DATE 05/15/03 TRADE OATE TRANSACTION PRINCIPAL OS/15/03 BAL OS/T5/03 BAL 5/15/03 5/15/03 OS/15/03 “paiNCIBAD PRINCIPAL Oslisi03 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST CO INC STATEMENT PERIOD April 26,2003 May 30, 2003 On File April 25, 2003 THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT DESCRIPTION PRICE DEBIT AMOUNT CREDIT AMOUNT FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 05-15-03 FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL 5.690 DUE 03/15/32 PRINCIPAL REDUCTN 05-15-03 “CESESAT SME TRESS SERIES 2483 CL SL PRINCIPAL REDUCTN 05-15-03 FRIES 2530 CLASS SE 090 DUE 02/15'32 CESESHC GME TSE TRE SORE 090 DUE 02/15/32 RINCIPAL REDUCTN 05-15-03 FEGERAL HOME TGAN MiG CORP SERIES 2526 CLASS SI PRINCIPAL REDUCTN 05-15-03 CESESNC GME TSR RRS BORE 5,690 DUE 02/15/32 PRINCIPAL REDUCTN 05-15-03 SYMBOLICUSIP QUANTITY -952 978,600 Sao GOO 1401 sueseeceeseescessecee sess eessecesecsscesceceeess 5,690 DUE 03/15/32 FEDERAL HOME LOAN MIG CORP RINCIPAL REDUCTN 05-15-03 be 2530 CLASS SE 5,690 DUE 02/15/32 SERIES 2526 CLASS SI TRIP MTG SERIES 322 CL PO 001 DUE 03/01 PRIN AID 04 REPO P &! (32 /D 05-25-03 Weds 027 06/31/03;15:20 001 EFTA00195717

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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 Brocklyn, New York 11201-3859 STEARNS _—€€ 10179 FINANCIAL TRUST CO INC 9 of 15 STATEMENT PERIOD April 26,2003 THROUGH May 30, 2003 Transaction Detail (continued) accouvt numecr | TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT — April 25, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBT AMOUNT GREOIT AMOUNT 05/27/03 PRINCIPAL FANNIE MAE CMO/SERIES 2002-82 -1,029,000 K-V'O FLTR bo DUE 10/25/31 RINCIPAL REDUCTN 05-25-03 05/27/03 PRINCIPAL FANNIE MAE CMO/SERIES 2002-82 K-V'O FLTR .730 DUE 10/25/31 RINCIPAL REDUCTN 05-25-03 0/3003 04/29/03 BOUGHT ~~ FEDERAL NATIONAL MTGASSN SSS" "S306"F59 {7106250 2.688,935.21 SERIES 2003-49 CLASS SW ACCR. INT. 19.175.34 2512033 05,680 a AS OF 04/29/03 TOTAL $-46.904,147.71 $48,338,700.19 INTEREST DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) CEBRIT AMOUNT CAEDIT AMOUNT 04/28/03 AVGBAL 219,997RT 100.25 021 OFFICE INTEREST 0: OS/15/03 FEDERAL HOME LOAN MTG CORP Bub Da AS09555 Yoo INTEREST PAYMENT 05-15-03 "FEDERAL HOME LOAN i SERIES 2471 CLASS YT Bigg ee Bue oa 788099 = 5,600 INTEREST PAYMENT 08-15-03 “2336738 -0000 I ae -6900 027 06/31/03;15:20 001 Weds EFTA00195718

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 10 of 15 Transaction Detail (continued) INTEREST (continued) DATE DESCRIPTION SYMBOUCUSIP 05/15/03 FEDERAL HOME LOAN MTG CORP SERIES 2488 CLASS Ute Cd ial eae - eset HOMETOAN i SERIES 2526 CLASS SI _REREST Aint O678-09 REAP Aten B32 0 47,363.95 i areenrormnenerenereseenrennnsnteenneen teases caaor CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST CO INC STATEMENT PERIOO April 26,2003 THROUGH May 30, 2003 account numccr = TAXPAYER NUMBER On File LAST STATEMENT April 25, 2003 CREDIT AMOUNT 214,234.68 128,482.02 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear, Stearns& Co.inc. SETTLEMENT TRADE DATE DATE TRANSACTION 05/13) JOURNAL ADI FITM-PR: (31/49 OeTaOS 2 a ee M-PR $953,614.23 CREDIT AMOUNT 1,950,000.00 17980,600°00 08/31/03;15:30 001 v644 EFTA00195719

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BEAR STEARNS 11 oof 15 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) SETTLEMENT TRADE DATE INTEREST SYMBOUCUSIP EDE: NATIONAL M TRIPS SERIES 326 CLASS 1 PO 001 QUE 07/01/32 FITM RP OPE! FEDERAL NATIONAL MTG A TRIPS SERIES S26 CLASS 1 PO 001 101/32 FITM QUANTITY DEBIT AMOL 9.290,000.00 08/31/03;15:30 001 Bear, Steams Securities Corp One Metrotech Center North Brockln, New York 11201-3859 be FINANCIAL TRUST CO INC STATEMENT PERIOD April 26,2003 THROUGH May 30, 2003 TAXPAYER NUMBER On File LAST STATEMENT April 25, 2003 CREDIT AMOUNT 1256.67 $390,000.00 veda EFTA00195720

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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 ma a FINANCIAL TRUST CO INC 12 of 15 STATEMENT PERIOD April 26,2003 THROUGH May 30, 2003 Transaction Detail (continued) account numecr (IS TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS {continued} LAST STATEMENT = April 25, 2003 SETTLEMENT TRADE DATE DATE SYMBOUCUSIP QUANTITY DEBIT AMOL CREDIT AMOUNT 9,290,000.00 JOURNAL ‘ $290,000.06 FEDERAL NATIONAL MTG ASSN 3,528,945 3,078,000.00 TRIP MTG SERIES 322 CL PO a 001 O 101/32 FEDERAL HOME LOAN MTG CORE _ 34,977,000 SERIES 2471 CLASS YT a 1,000 DUE 03/15/32 FITM FEDERAL NATIONAL MTG ASSN 3,806,994 2,120,000.00 TRIPS SERIES 326 CLASS 1 PO 027 08/31/03;15:30 001 veda EFTA00195721

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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 Le a FINANCIAL TRUST CO INC 13 of 15 STATEMENT PERIOD April 26,2003 THROUGH May 30, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS | (continued) LAST STATEMENT = April 25, 2003 SETTLEMENT TRADE DATE DATE DESCRPTION SYMBOUCUSIP QUANTITY DEBIT AMOL CREDIT AMOUNT 05/28/03 JOURNAL crs Ceti GIOMELOAN MTG CORP 35,210,740 3,133,000.00 690 /15/32 3,190,000.00 JOURNAL 17°706,606°60 “INTEREST 4,966.69 "FEDERAL NATIONAL MIG A STRIP MTG SERIES 322 CL PO DUE 03/01 001 DUE 07" — STRIPS SERIES 326 CLASS 1 PO a INTEREST 1363.60 027 08/31/03;15:30 001 veda EFTA00195722

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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 | | FINANCIAL TRUST CO INC 14 of 15 STATEMENT PERIOO April 26,2003 THROUGH May 30, 2003 Transaction Detail (continued) TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS | (continued) LAST STATEMENT — April 25, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRETION SYMBOUCUSIP QUANTITY DEBIT AMOUNT CREDIT AMOUNT 2,830,000.00 JOURNAL Fm be JOURNAL 3:190,000.06 “INTEREST "AGP Co DUE 12/313 25 EITM-PR “JOURNAL 74.68 i” tal pur 2iaf S049 625 . TOTAL $-49,149,991.93 $44,883,131.07 MISCELLANEOUS DATE MO/DAY TRANSACTION DESCAIPTION DEBIT AMOUNT CREDIT AMOUNT 05/09/03 JOURNAL APR 03 SPEC CLEARING FEES 50.00 os URNA ENS OVA (ERNMATO _— ™ men 32,812'50 SETT,05/03 5,500 DUE 0501/33 MBS NET 05/14/03 FED SERIES 2471 CLASS YT 1,000 DUE 03/15/32 P&l TRNFR 027 08/31/03;15:30 001 v644 account numccr = EFTA00195723

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 15 of 15 Transaction Detail (continued) MISCELLANEOUS (continued) OATE DEBIT AMOUNT f TRANSACTION 08/27/03 JOURNAL DESCRIPTION FITG TO FITM FITM TO FITG 362,114.00 $-362,164.00 Trades Executed Pending Settlement SETTLEMENT TRADE DATE OaTE TRANSACTION CESCRIPTION SYMBOLICUSIP FNMA-30YA(FNMA)GTD SETT.06/03 DUE 06/01/2033 05,500% 06/12/03 05/07/03. BOUGHT TOTAL The above trades do not appear in any other section of this statement {stop] ****** End of Statement****** 027 20,000,000.00 CREDIT AMOUNT 1,828,633.00 $2.270.988.66 QUANTITY PRICE 102.7187 (06/31/03;18:20 001 $20,543,750.00 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST CO INC STATEMENT PERIOD April 26,2003 THROUGH May 30, 2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT April 25, 2003 DEBIT AMOUNT CREDIT AMOUNT 20,543,750.00 EFTA00195724

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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 ACCOUNT EXECUTIVE GNMA GOVT BOND STATEMENT PERIOD March 29,2003 VISIT OUR WEBSITE www.bearstearns.com THROUGH April 25, 2003 . ACCOUNT NUMBER FY i | What's In This Statement Waal deeoclslleanselil TAXPAYER NUMBER On File LAST STATEMENT March 28, 2003 Financial SUMMA suse — 3 FINANCIAL TRUST CO INC Your Portfolio Holdings . 4 on oe one bute . . 100 T tion Detail ... tansaction Detail I STE BS Trades Not Yet Settled 13 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio $97,944 TOTAL VALUE OF SECURITIES THIS PERIOD = 21,153,305 Sash & Equvalent “7 973 4g NET CREDIT BALANCE 97,944 income $24,078,042 wer cour nas pono ST 44g DST HM uel. ‘svveeeenennnn4unsssannuuuuuuussususuosse sss suusuceeseseeeeseegee sss eeseesenssy8 SEGH Last statements market value NET EQUITY LAST STATEMENT 24,650,030 CHANGE SINCE LAST STATEMENT -3,205,779 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. 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 oz? 04/26103;11:48 001 64a EFTA00195725

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2 of 13 STATEMENT BACKER IS PRINTED ON THIS PAGE (04/26/03;11:48 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC v643 EFTA00195726

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR STEARNS 383 Madison Avenue Cash Flow Analysis $273,282.28 OpeningBalance Securities Sold 48,556,911.46 Dividends/Interest 1,070,933.50 Miscellaneous 145,913.71 Amount Credited $49,773,758.67 Securities Bought -49,850,352.59 Funds Withdrawn -77,852.00 Miscellaneous 20,892.47 Amount Debited $-49.949 097.06 Net Cash Activity -175,338.39 Cash Balance Summary OPENING CLOSING Margin 273,282.28 97,943.89 Net Cash Balance $273,282.28 $97,943.89 New York, New York 10179 3 of 13 Income Summary THiS PERIOD YEAR TO DATE Govt. Agency Int. 938,633.16 3,786,032.44 Corp. Bond Int. 132,220.68 402,192.43 Credit Balance Int. 79.66 272.18 Reverse Repurchase Int. 521.67 4,112.99 Bond Purchase Int. -30,981.48 Repurchase Int. Exp. -13,352.59 -13,352.59 Portfolio Composition Cash/Cash Equivalent 97,944 Fixed Income 21,153,305 $21,251,249 027 04/26/03;11:48 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp One Metrotech Center North Brockln, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD March 29, 2003 THROUGH April 25, 2003 accowr nuvecs SS TAXPAYER NUMBER On File LAST STATEMENT March 28, 2003 Your Portfolio Allocation Cash & Equivalent <1% “ Fixed Income 99% Unshaded portions denote debt balance andicr short market values. The alocation percentage is derived from the absohte market value of your portiotio. v643a EFTA00195727

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 4 on Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET VALUE 97,944 $97,944 DESCRIPTION CASH BALANCE TOTAL CASH & CASH EQUIVALENTS SYMBOU'CUSIP QUANTITY PRICE ANNUAL INCOME 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 March 29, 2003 April 25, 2003 accouvt nuwecr I TAXPAYER NUMBER On File THROUGH LAST STATEMENT March 28, 2003 ESTIMATED (QURRENT YELD (%} FIXED INCOME Government & Agency Obligations ACCT TYPE MRGN DESCRIPTION FEDERAL NATIONAL MTG ASS SERIES 2003-16 CLASS JS DATED DATE 01/06/03 BOOK ENTRY ONLY DUE 03/25/2018 10,050% FACTOR = .96506519 SERIES 2530 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY. DUE 02/15/2032 ff.090% FACTOR = .81236110 SERIES 2526 CLASS SI! DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5.690% FACTOR = .81236110 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1,000% FACTOR 76345290 SYMBOLCUSP QUANTITY 139.070 PRICE 98.7400 MRGN 91479" 48,741,661 MRGN 20,907,879 91154 MRGN 26,720,852 2.7564 ACCRUED INTEREST ESTIMATED ANNUAL INCOME 717,477 CURRENT YIELD (%) 10.1783 MARKET VALUE Ploso.118 82,458 2,968,367 66.5725 4,458,847 33,046 {189.658 62.4220 1,905,832 736.536, 36.2794 027 (04/26/03;11:48 001 v643 EFTA00195728

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North 383 Madison Avenue Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 | | FINANCIAL TRUST CO INC 5 of 13 STATEMENT PERIOD March 29,2003 THROUGH April 25, 2003 Your Portfolio Holdings (continued) com wee I TAXPAYER NUMBER On File LAST STATEMENT March 28, 2003 Government & Agency Obligations (continued) ACCT ACCRUED ESTIMATED CURRENT DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YIELD (%) FEDERAL HOME LOAN MTG CORP | MRGN 44,334,037 9.2039 4,080,481 70,075 2,522,607 61.8213 SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2032 5.690% FACTOR = .76855490 Total Government& Agency Obligations $18,230,814 $193,002 665,318 Corporate Bonds ACCT ACCRUED ESTIMATED QURRENT DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YIELD (%) FANNIE MAE CMO/SERIES 2002-82 El trcn 22,909,126 12.7569 2,922,491 1,541,784 52.7558 SK-I'0 FLTA DATED DATE 10/02/02 BOOK ENTRY ONLY DUE 10/25/2031 [§,730% FACTOR = .91636507 Total CorporateBonds $2,922,491 $1,541,784 TOTAL FIXED INCOME $21,153,305 $193,002 $9,207,102 YOUR TOTAL ACCRUED INTEREST $193,002 YOUR TOTAL ESTIMATED ANNUAL INCOME $9,207,102 YOUR PRICED PORTFOLIOHOLDINGS $21,251,249 o27 04/26/03;11:48 001 v643 EFTA00195729

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp. Bear, Stearns & Co. Inc. ne Metrotech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 a FINANCIAL TRUST CO INC Los STATEMENT PERIOO March 29, 2003 THROUGH April 25, 2003 Repurchase and Reverse Repurchase Transactions ccowr nce A TAXPAYER NUMBER On File with Bear, Stearnsand Co. Inc. outstanding as of date of statement LAST STATEMENT March 28, 2003 PURCHASE, REPURCHASE PRICING PURCHASE PRICE ACCAUED REPO QUANTITY START DATE OATE RATE PRINCIPAL INTEREST" (FACE AMOUNT) cusIP DESCRIPTION YOU PROVIDED FEDERAL HOME LOAN MIG CORP (MARGIN) 04/07/03 OPEN iz -50,000,000 [MM series 2471 class yt 1.0000 03/15/32 YOU SOLD FNMA-SMBS PRINCIPAL ONLY (REPO) 04/21/03 05/21/03 1.570 -3,078,000 -939 -5,000,000 [J series 322 class po 03/01/32 YOU SOLD FEDERAL HOME LOAN MTG CORP (REPO) 04/25/03 05/21/03 TOTAL REVERSE REPURCHASE TRANSACTIONS TOTAL REPURCHASE TRANSACTIONS $-§8211,000 $-1,348 “As of statement date -3,133,000 -409 -50,000,000 SERIES 2488 CLASS SQ 03/15/32 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 04/14/03 01/27/03 BOUGHT FNMA-3OYA(FNMA) GTD 10,000,000 100.60938 10,060,937.50 SETT,04/03 012033 05,500% REF # BS SETT.04/03 Oy 05, 500% BS 16:000;000"" “FOO S3755 {0.083750:00"" 027 04/26/03;11:48 001 v643 EFTA00195730

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT . Bear, Steams Securities Corp. Bear, Stearns & Co. Inc. One Metratach Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 fl Le FINANCIAL TRUST CO INC STATEMENT PERIOO March 29, 2003 THROUGH April 25, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT = March 28, 2003 SETTLEMENT TRADE OA DESCRIPTION SYMBOLCUSIP QUANTITY PRICE DEBIT AMOUNT GREDIT AMOUNT FNMA-30YA(FNMA) GTD 20,000,000 101.35156 20,270,312.50 03 SETT,0 Y 05, 500% REF # BS AS OF 03/24/03 TO CXL PREVIOUS SELL AS OF 01/27/03 TO CXL PREVIOUS BUY SETT,04/03 y 05, 500% REF # AS OF 02/04)" TO CXL PREVIOUS BUY O4ait4i03" O3/24) ENMA-SOVAIENMA) GTB "36,660,606 {OT 35156 26.370,312'50 SETT,04/03 Y 05.500% REF # BS SERIES 2471 CLASS YT a 1,000 DUE 03/15/32 “7 PRINCIPAL REDUCTN 04-15-03 FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 04-15-03 PRINCIPAL -610 asRapat "PEBERAL HOME LOAN MITE CORP” SERIES 2483 CL SL 5,720 DUE 03/15/32 PRINCIPAL REDUCTN 04-15-03 —_— #§ ff “BS6S;000 027 04/2603;11:48 001 v643a EFTA00195731

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Soar, Stewme Securities Co 1, 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 8 of 13 STATEMENT PERIOD March 29, 2003 THROUGH April 25,2003 Transaction Detail (continued) accouvt numecr | TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT = March 28, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBT AMOUNT GREOIT AMOUNT 04/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP 379 SERIES 2483 CL SL 5.720 DUE 03/15/32 PRINCIPAL REDUCTN 04-15-03 04/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -2,857,000 ERIES 2530 CLASS SE .120 DUE 02/15/32 RINCIPAL REDUCTN 04-15-03 04/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP ERIES 2530 CLASS SE |.120 DUE 02/15/32 RINCIPAL REDUCTN 04-15-03 4/15/03 PRINGIBAT FEDERAL HOME LOAN MiG CORP SERIES 2526 CLASS SI a 5.720 DUE 02/15/32 a 335,600 PRINCIPAL REDUCTN 04-15-03 04/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2526 CLASS SI 5.720 DUE 02/15/32 PRINCIPAL REDUCTN 04-15-03 04/2503 PRINCIPAL FEDERAL NATIONAL MiG ASSN | 23791695 TRIP MTG SERIES 322 CL PO ,001 DUE 03/01/32 PRIN A/D 03-93 PID 04-25-03 REPO P &l 100 K-10 FLTR .730 DUE 10/25/31 PRINCIPAL REDUCTN 04-25-03 “PEBE: RATES: SERIES 2003-16 CLASS JS 10,050 DUE 03/25/18 PRINCIPAL REDUCTN 04-25-03 INCE 027 04/26/03;11:48 001 v643 EFTA00195732

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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 9 of 13 STATEMENT PERIOD March 29, 2003 THROUGH April 25,2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT = March 28, 2003 SETTLEMENT TRADE DATE OATE TRANSACTION OESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT GREDIT AMOUNT 04/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASS 188,47: SERIES 2003-16 CLASS JS 10,050 DUE 03/25/18 PRINCIPAL PAYMENT 04-25-03 TOTAL $-40.425,000.00 $40,845,389.79 DEPOSITS AND WITHDRAWALS DATE TRANSACTION DESCRETION DEBIT AMOUNT CREDIT AMOUNT 04/03/03 END WIRED WIRED TO 77,852.00 TOTAL $-77,852.00 INTEREST DATE CESCRIPTION SYMBOUCUSIP QUANTITY RATE [%) CEBIT AMOUNT CREDIT AMOUNT 03/31/03 AVGBAL 241,.588RT A 79.66 021 OFFICE INTEREST 0303 EBE ME LOAN SERIES 2471 CLASS YT RYERES TARR daPS.03 i a — ae |”, hii Tx De sae od rb d3-09 Fn 04 Veks REPOP&1 —1,0000 SERIES aa cL SL o1'78.03 027 04/26/03;11:48 001 v643 EFTA00195733

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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 fl FINANCIAL TRUST CO INC 10 of 19 STATEMENT PERIOD March 29, 2003 THROUGH April 25,2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File INTEREST (continued) LAST STATEMENT — March 28, 2003 DEBIT AMOUNT CREDIT AMOUNT 227,667.02 DESCRIPTION SYMBOUCUSIP FEDERAL HOME LOAN MTG CORP i “FEDERAL HOME LOAN MiG CORP Bue esis eose hizo “FEDERAL HOME LOAN M4 SERIES 2526 CLASS SI RHERES PARENT 01°78.03 04/15/03 oases 7206 ORP "FANNIE MAE CMOISERIES 3002-83" Roe ett: Mh782.05 Ree Ei iets TOTAL $1,070,933.50 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear, Stearns& Co.Inc. SETTLEMENT TRADE DATE DATE TRANSACTION DESCRETION 04/07/03 JOURNAL FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS ¥T 1,000 s15/32 FITM RP OPEN RP OPEN QUANTITY CEBIT AMOUNT CREDIT AMOUNT -40,384,945 750,600.06 027 04/26/03;11:48 001 v643 EFTA00195734

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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 ma a FINANCIAL TRUST CO INC V1 oof 13 STATEMENT PERIOO March 29, 2003 THROUGH April 25, 2003 TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS | (continued) LAST STATEMENT — March 28, 2003 Transaction Detail (continued) SETTLEMENT TRADE DATE CREDIT AMOUNT SYMBOUCUSIP QUANTITY DEBIT AMOL 750,000.00 JOURNAL 750,000.66 FEDERAL NATIONAL MTG ASSN 3,811,029 3,032,000.00 TRIP MTG SERIES 322 CL PO a FEDERAL NATIONAL MiG ASSN —_ "3,817,029 3.078,000.06 TRIP MTG SERIES 322 CL PO a 001 4 - j32 INTEREST FEDERAL NATIONAL qs ASSN 4,307.97 STRIP MTG SERIES 3: LPO 027 04/26/03;11:48 001 v64a EFTA00195735

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 12 of 13 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) SETTLEMENT TRADE DATE DATE CRETION SYMBOUCUSIP QUANTITY -38,427,745 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD March 29, 2003 THROUGH April 25, 2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT March 28, 2003 CREDIT AMOUNT 3.133,000.00 04/25/03 Rea TG CORP bx FP OPEN FEDERAL HOME LOAN MTG CORP fee 2488 CLASS SO a 132 38.427;745 I i RP TERM INTEREST FEDERAL HOME LOAN MTG CORP SERIES 2488 CLASS DUE 03/15) FITM MISCELLANEOUS TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT JOURNAL MAR 03 SPEC CLEARING FEES 700.00 SETT,04/03 5.500 DUE 04/01/33 MBS NET 04/14/03 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 027 04/26/03;11:48 001 $-9,425,352.59 v643 EFTA00195736

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BEAR STEARNS 13 of 13 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 Transaction Detail (continued) MISCELLANEOUS (continued) OATE MODAY TRANSACTION 04/21/03 JOURNAL JOURNAL DESCRIPTION FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 REVERSE 4/16 ENTRY FEDERAL HOME LOAN MTG GOAP SERIES 2471 CLASS YT DEBIT AMOUNT 20,192.47 CREDIT AMOUNT 10,096.24 1,000 DUE 03/153; INT 021-92128 TO CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD March 29, 2003 THROUGH April 25, 2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT March 28, 2003 TOTAL $-20,892.47 $145,913.71 Trades Executed Pending Settlement SETTLEMENT TRADE DATE TE TRANSACTION DESCRIPTION SYMBOLCUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 05/14/03 03/24/03 BOUGHT FNMA-SOYA(FNMA)GID | 20,000,000.00 100.9375 20,187,500.00 SETT.05/03 TOTAL QUE 05/01/2033 05,500% The above trades do not appear in any other section of this statement 027 (04/26/03;11:48 001 $20.187,500.00 EFTA00195737

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 Pe ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSITE www.bearstearns.com What’s In This Statement Financial SUMMA sews S Your Portfolio Holdings . 4 Transaction Detail .. I Trades Not Yet Settled W Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THISPERIOD 24,075,942 LONG ACCRUED INTEREST 300,806 NET CREDIT BALANCE 273,282 a LTT YT) NET EQUITY LAST STATEMENT 23,891,200 CHANGE SINCE LAST STATEMENT 758,830 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. FINANCIAL TRUST CO INC C/O JEFFREY EPSTEIN 6100 RED HOOK QUARTER STE B3 ST THOMAS VI 00802 Market Value of Your Portfolio $273,282 Cash & Equivalent $385,776 Income $2 HE current market value S888 Last statement's market value 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 PERIOD March 1, 2003 THROUGH March 28, 2003 accouvt nuecr I TAXPAYER NUMBER On File LAST STATEMENT February 28, 2003 ‘This statemem should be retained for your records. See reverse side for important information, (04/29/03;10:84 001 W642 EFTA00195738

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2 of 12 STATEMENT BACKER IS PRINTED ON THIS PAGE (04/29/03;10:84 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC W642 EFTA00195739

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR STEARNS 3 of t2 383 Madison Avenue Cash Flow Analysis THIS PERIOD OpeningBalance $385,775.82 Securities Sold 5,010,034.50 Dividends/Interest 1,096,802.98 Miscellaneous 205,279.34 Amount Credited Hisi2.116.82 Securities Bought 270,120.19 Miscellaneous -154,490.17 424,610.36 -112,493.54 Amount Debited Net Cash Activity New York, New York 10179 Income Summary THS PERIOD Govt. Agency Int. 962,655.39 Corp. Bond Int. 134,082.87 Credit Balance Int. 64.72 Reverse Repurchase Int. 77.08 Bond Purchase Int. Portfolio Composition Cash/Cash Equivalent Fixed Income $3,121,15: YEAR TO DATE 2,847,399.28 269,971.75 192.52 3,591.32 4.87 -30,981.48 273,282 24,075,942 Cash Balance Summary OPENING CLOSING 273,282.28 $273,282.28 Margin 385,775.82 Net Cash Bal: $385,775.82 0a/29103;10:54 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp ne Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD March 1, 2003 THROUGH March 28, 2003 accowr nuvecs SS TAXPAYER NUMBER On File LAST STATEMENT February 28,2003 Your Portfolio Allocation Cash & Equivalent 1% “ Fixed Income 99% Unshaded portions denote debt balance andlor short market values. The alocation percentage is derived from the absohte market value of your portioiio. v642 EFTA00195740

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 4 ore Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET VALUE 273,282 $273,282 DESCRIPTION CASH BALANCE TOTAL CASH & CASH EQUIVALENTS SYMBOU'CUSIP QUANTITY PRICE ANNUAL INCOME CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC March 1,2003 March 28, 2003 On File STATEMENT PERIOD THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT ESTIMATED (QURRENT YELD (%} FIXED INCOME Government & Agency Obligations ACCT TYPE MRGN DESCRIPTION FEDERAL NATIONAL MTG ASS SERIES 2003-16 CLASS JS DATED DATE 01/06/03 BOOK ENTRY ONLY DUE 03/25/2018 10,075% FACTOR = .99054310 SERIES 2530 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY. DUE 02/15/2032 ff.120% FACTOR = .859965860 SERIES 2526 CLASS SI! DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5.720% FACTOR = .85998860 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1,000% FACTOR 80769890 SYMBOLCUSP QUANTITY hs27,543 PRICE 97.6300 MRGN {0.3259 51,599,311 MRGN 22,133,676 92919 MRGN 68,654,407 2.7988 ACCRUED INTEREST ESTIMATED ANNUAL INCOME 738,250 CURRENT YIELD (%) 10.3196 MARKET VALUE Il1s3.880 [iss 114,036 3,157,878 59.2684 5,328,097 45,719 1 266.046 61.5588 2.056.646 24,794 686,544 35.7297 1,921,493 027 (0a/2903;10:54 001 W642 February 28,2003 EFTA00195741

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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 Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 | | FINANCIAL TRUST CO INC 5 of 12 STATEMENT PERIOD March 1, 2003 THROUGH March 28, 2003 Your Portfolio Holdings (continued) owen A TAXPAYER NUMBER On File LAST STATEMENT February 28, 2003 Government & Agency Obligations (continued) ACCT ACCRUED ESTIMATED CURRENT DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YIELD (%) FEDERAL HOME LOAN MTG CORP | IGN 46,903,416 9.3921 4,405,222 96,882 2,682,875 60.9022 SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2032 5.720% FACTOR = 81309650 Total Government& Agency Obligations $20.865.338 $287,584 $8,531,593 Corporate Bonds ACCT ACCRUED ESTIMATED QURRENT DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YIELD (%) FANNIE MAE CMO/SERIES 2002-82 El trcn 23,523,322 13.6486 3,210,604 13,222 1,586,648 49.4190 SK-I'0 FLTA DATED DATE 10/02/02 BOOK ENTRY ONLY DUE 10/25/2031 ff, 745% FACTOR = ,94093290 Total CorporateBonds $3,210,604 $13,222 $1,586,648 TOTAL FIXED INCOME $24,075,942 $300,806 $10,118,241 YOUR TOTAL ACCRUED INTEREST $300,806 YOUR TOTAL ESTIMATED ANNUAL INCOME $10,118,241 YOUR PRICED PORTFOLIOHOLDINGS $24,349,224 o27 (04/2903;10:84 001 W642 EFTA00195742

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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 Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 Dee FINANCIAL TRUST CO INC STATEMENT PERIOD March 1,2003 THROUGH March 28, 2003 Repurchase and Reverse Repurchase Transactions ccowr nce A TAXPAYER NUMBER On File with Bear, Stearnsand Co. Inc. outstanding as of date of statement LAST STATEMENT February 28, 2003 PURCHASE, REPURCHASE PRICING PURCHASE PRICE! ACCAUED REPO QUANTITY START DATE DATE RATE PRINCIPAL INTEREST” (FACE AMOUNT) cusIP DESCRIPTION YOU SOLD FEDERAL HOME LOAN MTG CORP (REPO) 02/28/03 05/07/03 1.580 -3,680,000 5,006 -50,000,000 [MMM serics2sssciassso [ oa1sa2 YOU SOLD FNMA-SMBS PRINCIPAL ONLY (REPO) 03/19/03 04/21/03 1.550 -3,032,000 -1,566 -5,000,000 SERIES 322 CLASS PO 03/01/32 TOTAL REVERSE REPURCHASE TRANSACTIONS TOTAL REPURCHASE TRANSACTIONS $49,712,000 $9572 “As of statement date Transaction Detail INVESTMENT ACTIVITY SETTLEMENT — TRADE TRANSACTION CESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 03/12/03 JOURNAL FEDERAL HOME LOAN MTG CORP 2 SERIES 2526 CLASS SI 5,660 DUE 02/15/32 OR T7103 PRINCIBAT FEDERAL HOME LOAN MTG CORP | SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 03-15-03 OR T7IG3 PRINCIBAT FEDERAL HOME LOAN MTG CORP | SERIES 2471 CLASS YT 1,000 DUE 03/1532 PRINCIPAL REDUCTN 03-15-03 852°000 027 (04/2903;10:84 001 W642 EFTA00195743

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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 as Le FINANCIAL TRUST CO INC STATEMENT PERIOD March 1,2003 THROUGH March 28, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT —- February 28, 2003 SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 03/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -2,366,000 SERIES 2483 CL SL 5.720 DUE 03/15/32 PRINCIPAL REDUCTN 03-15-03 03/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2483 Ci SL 5.720 DUE 03/15/32 PRINCIPAL REDUCTN 03-15-03 ERIES 2530 CLASS SE .120 DUE 02/15/32 PRINCIPAL REDUCTN 03-15-03 FEDERAL HOME LOAN MTG CORP he 2530 CLASS SE PRINCIPAL 120 DUE 02/15/32 RINCIPAL REDUCTN 03-15-03 FEDERAL NATIONAL MiG ASSN —_— 8€=—lod 4.042°946 89.34375 S612 720-7 STRIP MTG SERIES 322 CL PO 00.001 SK-VO FLTR 713 DUE 10/25/31 RINCIPAL REDUCTN 03-25-03 -69,957 PRINCIPAL FEDERAL NATIONAL MTG ASS SERIES 2003-16 CLASS JS 10,000 DUE 03/25/18 PRINCIPAL REDUCTN 03-25-03 03/25/03 PRINCIPAL FEDERAL NATIONAL MIG ASS —_— 69,957.42 SERIES 2003-16 CLASS JS 10,000 DUE 03/25/18 PRINCIPAL PAYMENT 03-25-03 TOTAL $-3,612,120.19 $69,957.42 027 (04/2903;10:84 001 W642 EFTA00195744

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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 _—€€ 10179 8 of 12 STATEMENT PERIOD THROUGH Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER INTEREST LAST STATEMENT DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE (%) DEBIT AMOUNT CAEDIT AMOUNT 03/03/03 AVGBAL 136,265RT = 64.72 021 OFFICE INTEREST 0: FEDERAL HOME LOAN MiG CORP | sid 76660 49,492.72 Bue Das 20925 Yoo INTEREST PAYMENT 03-15-03 EGER, MET iA SERIES 2483 CL SL Ye PRET 04°F8-03 ra Aga CLASS SR: — eae ie : § a FBB00 a TT TG itt aia STG emrtmstenttentrnervssreneeneeneeneenne ns isa etry hiro at eae i 2p 03 6.7200 237,017.33 SERIES 2526 CLASS SI 163.880 of VER SK-V0 FLIR crn ME li Won cn ES 2005. 16 CLASS JS RES Nien 08-38%o3 TOTAL $1,096,802.98 027 (04/2903;10:84 001 W642 FINANCIAL TRUST CO INC March 1,2003 March 28, 2003 On File February 28,2003 EFTA00195745

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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 | a FINANCIAL TRUST CO INC 9 of 12 STATEMENT PERIOD March 1, 2003 THROUGH March 28,2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS LAST STATEMENT —- February 28, 2003 with Bear,Stearns& Co. Inc. SETTLEMENT TRADE DATE DESCRETION SYMBOUCUSIP QUANTITY OESIT AMOUNT REDIT AMOUNT E LOA “23,172, SERIES Bubs CURA SON 23,172,088 5,660 115/32 FITM AP OPEN FEDERAL HOME LOAN MTG CORP 22,133,676 SERIES 2526 CLASS SI a 8,625 Di JS 14! 027 0a/29103;10:54 001 v642 EFTA00195746

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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 10 of 12 FINANCIAL TRUST CO INC STATEMENT PERIOD March 1,2003 THROUGH March 28, 2003 Transaction Detail (continued) account numccr = TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS | (continued) LAST STATEMENT — February 28, 2003 SETTLEMENT TRADE DATE DATE 03/21) SYMBOUCUSIP QUANTITY DEBIT AMOUNT CREDIT AMOUNT 758,000.00 wy EGE SERIES 2471 CLASS YT 1,000 DUE 03/15/32 FITMARG! RP TERM RP TERM TOTAL $-2,658.000.00 $4,.940,077.08 MISCELLANEOUS DATE MOUDAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT JOURNAL FEB 03 SPEC CLEARING FEES 400.00 FITM TO FITG 112,066.00 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 027 0a/29103;10:54 001 v642 EFTA00195747

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp. Bear, Stearns & Co. Inc. One Metratach Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York. New York 10179 | | FINANCIAL TRUST CO INC 11 of t2 STATEMENT PERIOO March 1,2003 THROUGH March 28,2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File MISCELLANEOUS (continued) LAST STATEMENT February 28, 2003 DATE MO'DAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 03/7803 JOURNAL FEDERAL HOME LOAN MTG CORP 2121117 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 RECLASS Pal oxises iota FEDERAL HOME LOAN MTG CORB a: 1.) | SERIES 2471 CLASS YT 1,000 DUE 03/15/32 P&I TRNFA 857.00 TOTAL $-154,490.17 $205,279.34 Trades Executed Pending Settlement SETTLEMENT TRADE DATE OATE TRANSACTION CESCRIPTION SYMBOLICUSIP: QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 01/27/03 BOUGHT FNMA-OYA(FNMA) GTD 70,000,000.00 700.6093 10,060,937.50 SETT.04/03 DUE 04101/2033 05,500% REF #t 04/14/03 02/04/03 BOUGHT FNMA-SOVA(FNMA) GTD | 10,000,000.00 100.9375 10,093.750.00 SETT.04/03 QUE 04/01/2033 05,500% REF # FNMA-3OVA(FNMA) GTD _ m"""20,000,000.00 101.3515 20,270,312.50 SETT,04103 DUE 04/01/2033 05,500% REF # 027 0a/2903;10:54 001 v642 EFTA00195748

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 12 of 12 Trades Executed Pending Settlement (continued) SETTLEMENT TRADE DATE OaTE TRANSACTION DESCRIPTION FNMA-30YA(FNMA)GTD 05/14/03 03/24/03 BOUGHT QUANTITY 20,000,000.00 PRICE 100.9375 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD March 1,2003 THROUGH March 28, 2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT February 28,2003 DEBIT AMOUNT CREDIT AMOUNT 20,187,500.00 SETT,O5/03 DUE 05/01/2033 05,500% REF # BS TOTAL $40,342,187.50 $20,270,312.50 The above trades do not appear in any other section of this statamont [stop] **ee** End of Statement****** 027 (04/2903;10:84 001 W642 EFTA00195749

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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 | a FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE GNMA GOVT BOND STATEMENT PERIOO February 1, 2003 VISIT OUR WEBSITE www.bearstearns.com THROUGH February 28,2003 . ACCOUNT NUMBER Fs i | What's In This Statement Hava deseloelslleanselil TAXPAYER NUMBER On File LAST STATEMENT January 31, 2003 Financial SUMMA wis — 8 FINANCIAL TRUST CO INC Your Portfolio Holdings . 4 on Phone bute . . 100 T tion Detail ... transaction Detail I STE BS Trades Not Yet Settled 1 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio 85.776 TOTAL VALUE OF SECURITIES THIS PERIOD 23,198,123 Cash & Equivalent bees NET CREDIT BALANCE 385,776 income $22,463,638 HE current market value SEG] Last statement's market value NET EQUITY LAST STATEMENT 22,986,053 CHANGE SINCE LAST STATEMENT 905,147 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. 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. o27 0301/03;13:10 001 vest EFTA00195750

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2011 STATEMENT BACKER IS PRINTED ON THIS PAGE 03/01/03;13:10 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC EFTA00195751

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR STEARNS Zon 383 Madison Avenue Cash Flow Analysis OpeningBalance $516.74 Securities Sold 35,413,423.41 Dividends/interest 1,065,782.92 Miscellaneous 169,239.08 Amount Credited $36.648,445.41 Securities Bought -36,253,953.00 Dividends/Interest Charged -8,333.33 Miscellaneous -900.00 Amount Debited Net Cash Activity New York, New York 10179 Income Summary THiS PERIOD YEAR TO DATE Govt. Agency Int. 929,766.24 1,884.743.89 Corp. Bond Int. 135,888.88 135,888.88 Credit Balance Int. 127.80 127.80 Reverse Repurchase Int. 2,187.59 3,514.24 Bond Purchase Int. -8,333.33 -30,981.48 Portfolio Composition Cash/Cash Equivalent 385,776 Fixed Income 23,198,123 Cash Balance Summary OPENING CLOSING Margin 516.74 385,775.82 Net Cash Balance $516.74 $385,775.82 027 03/01/03;13:10 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp One Metrotech Center North Brockln, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOO February THROUGH February 1,2003 28, 2003 accowr nuvecs SS TAXPAYER NUMBER On File LAST STATEMENT January 31,2003 Your Portfolio Allocation Cash & Equivalent Fixed Income 99% Unshaded portions denote debt balance andicr short market values. The alocation percentage is derived from the absohte market value of your portiotio. ves1 EFTA00195752

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a aon Your Portfolio Holdings CASH & CASH EQUIVALENTS MARKET ESTIMATED CURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (%) CASH BALANCE 385.776 TOTAL CASH & CASH EQUIVALENTS $385,776 FIXED INCOME Government & Agency Obligations ACCT ACCRUED DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST FEDERAL HOME LOAN MTG CORP rc 54,022,147 9.3962 5,076,007 118,218 SERIES 2530 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY. DUE 02/15/2032 B2sox FACTOR = .90036920 FEDERAL HOME LOAN MTG CORP a acs 23.172,960 85799 1.988.216 47,364 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5.660% FACTOR = ,90036920 FEDERAL HOME LOAN MTG CORP aa acs 59,391,262 28431 1.688.559 21,448 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1,000% FACTOR = .84844660 FEDERAL HOME LOAN MTG CORP a acs 49.269.652 85352 4.205.264 100,700 SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2032 5.660% FACTOR = .85411650 93.913 35.1728 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 February 1, 2003 THROUGH February 28, 2003 accouvt nuwecr I TAXPAYER NUMBER On File LAST STATEMENT January 31, 2003 ESTIMATED CURRENT ANNUAL INCOME YELD (%} 3,273,742 64.4944 {311.590 65.9682 2.788.662 66.3136 027 03/01/03;13:10 001 ves1 EFTA00195753

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North 383 Madison Avenue Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 | | FINANCIAL TRUST CO INC Soon STATEMENT PERIOO February 1, 2003 THROUGH February 28, 2003 Your Portfolio Holdings (continued) com wee I TAXPAYER NUMBER On File LAST STATEMENT January 31, 2003 Government & Agency Obligations (continued) ACCT ACCRUED ESTIMATED CURRENT DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YIELD (%) FEDERAL NATIONAL MTG ASS | IGN | EX) 500 98.5347 F289.104 ies 739,750 10.1487 SERIES 2003-16 CLASS JS INTEREST FROM DATE 02/25/03 DATED DATE 01/06/03 FIRST COUPON 03/25/2003 BOOK ENTRY ONLY DUE 02/25/2033 10,000% FACTOR = 1,00000000 Total Government& Agency Obligations $20,247,150 $293,894 $8,707,657 Corporate Bonds ACCT ACCRUED ESTIMATED OURPRENT DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YELD (%) FANNIE MAE CMO/SERIES 2002-82 Hs trcn 23,965,658 12.3133 2,950,973 13,407 1,608,815 54.5181 SK-I/0 FLTR DATED DATE 10/02/02 BOOK ENTRY ONLY DUE 10/25/2031 9.713% FACTOR = .95862633 Total CorporateBonds $2,950,973 $13,407 $1,608,815 TOTAL FIXED INCOME $23,198,123 $307,301 $10,316,472 YOUR TOTAL ACCRUED INTEREST $307,301 YOUR TOTAL ESTIMATED ANNUAL INCOME $10,316,472 YOUR PRICED PORTFOLIOHOLDINGS $23,583,899 o27 03/01/03;13:10 001 ves) EFTA00195754

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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 | a STATEMENT PERIOO February 1,2003 THROUGH February 28, 2003 + ACCOUNT NUMBER Repurchase and Reverse Repurchase Transactions a TAXPAYER NUMBER On File with Bear, Stearnsand Co. Inc. outstanding as of date of statement LAST STATEMENT January 31, 2003 PURCHASE, REPURCHASE PRICING PURCHASE PRICE ACCAUED REPO QUANTITY START DATE DATE RATE PRINCIPAL INTEREST" FACE AMOUNT) cusIP DESCRIPTION YOU SOLD FEDERAL HOME LOAN MTG CORP 02/28/03 05/07/03 SERIES 2488 CLASS SQ 03/15/32 TOTAL REVERSE REPURCHASE TRANSACTIONS TOTAL REPURCHASE TRANSACTIONS $-3,680,000 $-484 “As of statement date 1.580 -3,680,000 -484 -50,000,000 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLCUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 02/13/03 01/08/03 BOUGHT FNMA-3O0YA(FNMA) GTD 10,000,000 101.43750 10,143,750.00 ‘03 h 05,500% ‘03 n 05,500% AS OF 02/04) TO CXL PREVIOUS SELL 027 03/01/03;13:10 001 ves1 EFTA00195755

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp. Bear, Stearns & Co. Inc. ne Metrotech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 fl | FINANCIAL TRUST CO INC STATEMENT PERIOO February 1,2003 THROUGH February 28, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT = January 31, 2003 SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 02/13/03 01/08/03 CANCEL BUY FNMA-30YA(FNMA) GTD 10,000,000 101.43750 10,143,750.00 03 f 05,500% BS AS OF 01/08/03 TO CXL PREVIOUS BUY ositaid3 PRINCIPAL FEERAD HOME LOAN MIG CORP “1,931,000 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 02-15-03 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 02-15-03 u SERIES 2483 CL SL 5,660 DUE 03/15/32 PRINCIPAL REDUCTN 02-15-03 02/18/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL 5,660 DUE 03/15/32 PRINCIPAL REDUCTN 02-15-03 62/18/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP ERIES 2488 CLASS SQ 660 DUE 03/15/32 PRINCIPAL REDUCTN 02-15-03 “FEDERAL HOME LOAN MITE CORP ERIES 2488 CLASS SQ 660 DUE 03/15/32 PRINCIPAL REDUCTN 02-15-03 way “PRINCIPAL” 027 03/01/03;13:10 001 v641 EFTA00195756

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp. Bear, Stearns & Co. Inc. One Metratach Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 fl Le FINANCIAL TRUST CO INC Bont STATEMENT PERIOO February 1,2003 THROUGH February 28, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT January 31, 2003 SETTLEMENT TRADE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT GREDIT AMOUNT PRINCIPAL FEDERAL HOME LOAN MTG CORP -1,991,000 ERIES 2530 CLASS SE hose DUE 02/15/32 RINCIPAL REDUCTN 02-15-03 02/18/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP ERIES 2530 CLASS SE 030 DUE 02/15/32 INCIPAL REDUCTN 02-15-03 SERIES 2526 CLASS SI! 5,660 DUE 02/15/32 PRINCIPAL REDUCTN 02-15-03 -381,733 FANNIE MAE CMO/SERIES 2002-82 2? FLTR PRINCIPAL .697 DUE 10/25/31 AINCIPAL REDUCTN 02-25-03 3 BOUGHT FEDERAL NATIONAL MTG ASS SERIES 2003-16 CLASS JS ra% 10,000% 02/28/03 10,000,000 96.31250 9,631,250.00 ACCR. INT. 8,333.33 REF # BS AS OF 02/03! SERIES 2003-16 CLASS JS ACCR. INT. 5) 10,000% REF # FEDERAL NATIONAL MTG ASS -1,425,000 96.31250 1,372,453.13 SERIES 2003-16 CLASS JS ACCR. INT. 1,187.50 rae% 10,000% REF # $-29,960,286.33 $22,.829,404.57 o2? 03/01/03;13:10 001 ves1 EFTA00195757

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 | 9 oft Transaction Detail (continued) INTEREST DATE DESCRIPTION SYMBOUCUSIP 02/03/03 AVGBAL 257,707RT 021 OFFICE INTEREST 0 Bae DST 8/2095"SS Too INTEREST PAYMENT 02-15-03 EGER, iA (8/03 FEDERAL HOME LOAN MTG CORP | sid QUANTITY RATE (Se) 1.0000 DEBIT AMOUNT CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOO February 1,2003 THROUGH February 28,2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT January 31, 2003 CREDIT AMOUNT 127.80 $7,102.22 SERIES ie CL SL | tO RTENT B Bog mz FEDERAL HOME LOAN MiG CORP SERIES 2488 CLASS re RYE EM Renr HS os Os TSIOS FEDERAL HOME LOAN MiG CORP Bue ABBOT foo BoP oa Te OSYSS 2 seo INTEREST PAYMENT 02-15-03 SK-V/0 FLTR RHE TO EOR nr ALS o 243,622.75 281,470.21 135,888.88 TOTAL REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear, Stearns& Co.inc. SETTLEMENT TRADE DATE DATE TRANSACTION DESCRETION 02/20/03 JOURNAL SYMBOUCUSIP $1,063,614.17 OESIT AMOUNT CREDIT AMOUNT 2,602,000.00 027 03/01/03;13:10 001 ves1 EFTA00195758

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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 | a FINANCIAL TRUST CO INC 10 of 1) STATEMENT PERIOD February 1,2003 THROUGH February 28,2003 Transaction Detail (continued) TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS {continued} LAST STATEMENT = January 31, 2003 SETTLEMENT TRADE DATE DATE SYMBOUCUSIP QUANTITY DEBIT AMOL CREDIT AMOUNT 2,602,000.00 JOURNAL ‘ 2'602,000°06 “42,705,825 3/680,000°06 3:700,000.66 INTEREST TOTAL $-§§. 302,000.00 $12.586,187.59 027 03/01/03;13:10 001 ves1 EFTA00195759

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Steams Securities Corp. Bear, Stearns & Co. Inc. ne Metrotech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York. New York 10179 | | FINANCIAL TRUST CO INC Woot STATEMENT PERIOO February 1,2003 THROUGH February 28, 2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File MISCELLANEOUS LAST STATEMENT — January 31, 2003 TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT JOURNAL JAN 03 CLEARING FEES ‘ouaNa nn ENS VR ENA) GTB . - "93 303.13 SETT.02/03 5,500 DUE 02/01/33 MBS NET 02/13/03 FEDERAL HOME LOAN MTG COBB "3790095 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 P&l TRANSFER 02/21/03 JOURNAL FITG TO FITM 114,135.00 TOTAL $-900.00 $169,239.08 JOURNAL Trades Executed Pending Settlement SETTLEMENT TRADE DATE DATE TRANSACTION CESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT BOUGHT FNMA-30YA(FNMA) GTD 10,000,000.00 100.6093 10,060,937.50 SETT.04/03 DUE 04/01/2033 05,500% 04/14/03. 01/27/03 REF # anes rin anen um BOUGHT FNMA-3O0YA(FNMA) GTD 10,000,000.00 SETT.04/03 DUE 04/01/2033 05,500% 10,093,750.00 100.9375 $20,154,687.50 The above trades do not appear in any other section of this stalement 027 03101/03;13:10 001 vest EFTA00195760

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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 New York, New York 10179 | a FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE © GNMA GOVT BOND STATEMENT PERIOD January 1, 2003 VISIT OUR WEBSITE = wwiw.bearstearns.com THROUGH January 31,2003 . ACCOUNT NUMBER FY i | What’s In This Statement Hasalbcsbeelsllsssahil TAXPAYER NUMBER On File Financial SUMMA suum — 3 FINANCIAL TRUST CO INC ‘ast sateen Oscember SY 2008 Your Portfolio Holdings . 4 on Fe one ouateR . . 100 Transaction Detail ... ransacs i STE BS Trades Not Yet Settled WW ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio TOTAL VALUE OF SECURITIES THIS PERIOD 22,463,638 Cash & Equivalent $31.520 LONG ACCRUED INTEREST 521,898 NET CREDIT BALANCE 517 Income $13,715,716 NET EQUITY Tas PERIOD §33-986. 053 | | Current market value NET EQUITY LAST STATEMENT 14,249,549 CHANGE SINCE LAST STATEMENT 8,736,503 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. 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 oz? 02101/03;15:12 001 ve40 EFTA00195761

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2011 STATEMENT BACKER IS PRINTED ON THIS PAGE 02101/03;15:12 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC EFTA00195762

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BEAR STEARNS Cash Flow Analysis OpeningBalance Securities Sold Dividends/Interest Miscellaneous Amount Credited Securities Bought Funds Withdrawn Dividends/Interest Charged Miscellaneous Amount Debited Net Cash Activity Closing Balance Cash Balance Summary OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 THIS PERIOD $24,520.47 25,988,373.53 954,977.65 14,376,739.01 $41.320.090.19 -25,965,207.77 -366,738.00 22,648.15 -14,989,500.00 -24.003.73 CLOSING Margin 24,520.47 516.74 Net Cash Balance $24,520.47 $516.74 Zon Income Summary THS PERIOD YEAR TO DATE Govt. Agency Int. 954,977.65 954,977.65 Reverse Repurchase Int. 1,326.65 1,326.65 $956,304.30 $956,304.30 Bond Purchase Int. -22,648.15 -22,648.15 Portfolio Composition Cash/Cash Equivalent 517 Fixed Income 22,463,638 027 0201/03;18:12 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp ne Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOD January 1, 2003 THROUGH January 31,2003 accowr nuvecs SS TAXPAYER NUMBER On File LAST STATEMENT Your Portfolio Allocation December 31,2002 Fixed Income— 100% Unshaded portions denote debt balance andlor short market values. The alocation percentage is derived from the absohte market value of your portioiio. ves0 EFTA00195763

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a aon Your Portfolio Holdings CASH & CASH EQUIVALENTS MARKET ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (%) CASH BALANCE 517 TOTAL CASH & CASH EQUIVALENTS $517 FIXED INCOME Government & Agency Obligations ACCT ACCRUED DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST FEDERAL HOME LOAN MTG CORP rc 56,013,966 10.0663 5,638,552 150,120 SERIES 2530 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY. DUE 02/15/2032 Bos0% FACTOR = ,93356610 FEDERAL HOME LOAN MTG CORP a acs 24,027,354 91396 2.196.011 60,122 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5.630% FACTOR = .93356610 FEDERAL HOME LOAN MTG CORP aa acs 61,322,660 27360 1.677.757 27.251 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1,000% FACTOR = .87603800 FEDERAL HOME LOAN MTG CORP a acs 44,094,615 {716523 "5 138.016 129,935 SERIES 2488 CLASS SO DATED DATE 07/08/02 BOOK ENTRY ONLY DUE 03/15/2032 Asso FACTOR = .88189530 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 1, 2003 THROUGH January 31, 2003 accouvt nuwecr I TAXPAYER NUMBER On File LAST STATEMENT December 31, 2002 ESTIMATED CURRENT ANNUAL INCOME YIELD (%) 3,377,642 59.9026 {352.740 61.5999 613.227 36.5504 2.923.473 56.8989 027 02101/03;18:12 001 vé40 EFTA00195764

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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 Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 | | FINANCIAL TRUST CO INC 5 of STATEMENT PERIOD January 1, 2003 THROUGH January 31, 2003 Your Portfolio Holdings (continued) owen A TAXPAYER NUMBER On File LAST STATEMENT December 31, 2002 Government & Agency Obligations (continued) ACCT ACCRUED ESTIMATED CURRENT DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YIELD (%) FEDERAL HOME LOAN MTG CORP | IGN 50,871,897 9.1370 4.648.141 127,293 2,864,088 61.6179 SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2032 5,630% FACTOR = .88189230 Total Government& Agency Obligations $19,298.477 $494,721 $11,131,170 Corporate Bonds ACCT ACCRUED ESTIMATED QURRENT DESCRIPTION SYMBOLCUSP TYPE QUANTITY PRICE MARKET VALUE INTEREST ANNUAL INCOME YIELD (%) FANNIE MAE CMO/SERIES 2002-82 El trcn 24,347,391 13.0000 3,165,161 27,177 1,630,545 51.5154 SK-I!0 FLTR DATED DATE 10/02/02 BOOK ENTRY ONLY DUE 10/25/2031 §f,.697% FACTOR = .97389566 Total CorporateBonds $3,165,161 $27,177 $1,630,545 TOTAL FIXED INCOME $22,463,638 $521,898 $12,761,715 YOUR TOTAL ACCRUED INTEREST $521,898 YOUR TOTAL ESTIMATED ANNUAL INCOME $12,761,715 YOUR PRICED PORTFOLIOHOLDINGS $22,464,155 o27 02101/03;18:12 001 vé40 EFTA00195765

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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 | | FINANCIAL TRUST CO ING | oft STATEMENT PERIOO January 1,2003 THROUGH January 31,2003 Transaction Detail account numccr = TAXPAYER NUMBER On File INVESTMENT ACTIVITY LAST STATEMENT — December 31, 2002 SETTLEMENT TRADE DATE OATE SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT BOUGHT OYA(FNMA) GTD 10,000,000 100.09375 10,009,375.00 03 05,500% AS OF 01/08/03 TO CXL PREVIOUS SELL FNMA-30YR(FNMA) GTD OTT4)03 CANCEDBUY , "70,000,000 760°09375 10,009,375°00 “10,000,000 101 .88672 10,188,671-88 PRINCIPAL FEDERAL HOME LOAN MTG CORP -2,344,000 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 01-15-03 “"FEBERAL HOME LOAN TE CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 01-15-03 “PRINCIPAL” PRINCIPAL FESERAD HOME LOAN MTG CORP | “7/944,000 SERIES 2483 CL SL 5,580 DUE 03/15/32 PRINCIPAL REDUCTN 01-15-03 027 0201/03;18:12 001 ves0 EFTA00195766

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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 | oft STATEMENT PERIOO January 1, 2003 THROUGH January 31,2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT — December 31, 2002 SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT GREDIT AMOUNT 01/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP 917 SERIES 2483 CL SL 5,580 DUE 03/15/32 PRINCIPAL REDUCTN 01-15-03 01/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP ERIES 2488 CLASS SOQ 580 DUE 03/15/32 INCIPAL REDUCTN 0 ERIES 2488 CLASS SQ 580 DUE 03/15/32 PRINCIPAL REDUCTN 01-15-03 PRINGIBAT FEDERAL HOME TGAN MIG CORP | “2:668;600 SERIES 2530 CLASS SE 5,980 DUE 02/15/32 PRINCIPAL REDUCTN 01-15-03 01/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS SE 5.980 DUE 02/15/32 PRINCIPAL REDUCTN 01-15-03 SERIES 2526 CLASS SI 5,580 DUE 02/15/32 PRINCIPAL REDUCTN 01-15-03 FANNIE MAE CMOISERIES 2002-82 _ 24.347.391 43.00000 3,165,160.89 SK-V1O FLTR ; ACCR. INT. 22,648.15 TOTAL $-23,385,855.92 $20,198,.046.88 027 02101/03;18:12 001 vé40 EFTA00195767

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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 Bon FINANCIAL TRUST CO INC STATEMENT PERIOO January 1,2003 THROUGH Transaction Detail (continued) January 31, 2003 account numccr = TAXPAYER NUMBER On File DEPOSITS AND WITHDRAWALS LAST STATEMENT December 31, 2002 DATE TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 01/02/03 FND WIRED WIRED TO 84,854.00 TOTAL $-366,738.00 INTEREST DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE () DEBIT AMOUNT CAEDIT AMOUNT 01/15/03 FEDERAL HOME LOAN MTG CORP 7.0000 53,055.94 or — PER MENT 0118-03 FEDERAL HOME LOAN M SERIES 2483 CL SL AES PR ient di s03 SERIES Zee se 7 PRET ikac di Pos | ; 34559818 15/03 FEDERAL HOME LOAN MTG CORP 5.5800 115,852.18 BoP Oe Teo SHS 8 sa0 INTEREST PAYMENT 01-15-03 TOTAL $954.977.65 o2? 02101/03;15:12 001 ves0 EFTA00195768

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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 Brocklyn, New York 11201-3859 STEARNS New York, New York 10179 fl a FINANCIAL TRUST CO INC 9 on STATEMENT PERIOD January 1, 2003 THROUGH January 31,2003 Transaction Detail (continued) com wee I TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS LAST STATEMENT — December 31, 2002 with Bear,Stearns& Co. Inc. SETTLEMENT TRADE DATE DATE TRANSACTION ESCRETION SYMBOLCUSIP QUANTITY OESIT AMOUNT CREDIT AMOUNT 2,602,000.00 5.789,000.00 INTEREST ADP CD 1326.65 DUE 12/315 25 TOTAL $-2,602,000.00 $5,790.326.65 MISCELLANEOUS DATE MOIDAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 01/02/03 RECEIVED ADP CD 4,000,000.00 DUE 12/31/2049 8,625 8,625 DUE 12/31/49 DUE 12/31/2049 8.625 8.625 DU AR EITM-PR ios BELIVERES A — “ees me" G557 000.00 DUE 12/31/2049 8,625 8.625 D IRA L EIDM-PA FRE TOF 027 0201/03;18:12 001 ves0 EFTA00195769

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 | 10 of) Transaction Detail (continued) MISCELLANEOUS (continued) DATE MO'DAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 01/14/03 JOURNAL FNMA-30YR(FNMA) GTD 179,296.88 SETT,01/03 5,500 DUE 01/01/33 MBS NET 01/14/03 "JOUENAT DECOS CLEARING FEES "33 738.26 FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 P&l TRNFR 600,000.00 DUE 12/31/2049 8.625 8.625 DUE 12/31/49 —_— DUE 12/31/2049 8.625 4,600,000.00 Osis DELIVERED ADE CB 4,600,000.00 DUE 12/31/2049 8,625 027 02101/03;18:12 001 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, 2003 THROUGH January 31,2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT December 31,2002 vé40 EFTA00195770

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS Woot) Transaction Detail (continued) MISCELLANEOUS {continued) DATE MOIDAY TRANSACTION DESCRIPTION 01/22/03 JOURNAL FITG TO FITM TOTAL Trades Executed Pending Settlement SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION BOUGHT FNMA-30YA(FNMA) GTD SETT.02/03 DUE 02/01/2033 05,500% 02/13/03 01/08/03 REF # 8S FNMA-30YA(FNMA) GTD SETT.04/03 DUE 04/01/2033 05,500% “91/27/03 BOUGHT sss anenaaeseeseuneensens . {0°00 000 00 reenact T080 bS7 80 Seay CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT PERIOO January 1, 2003 THROUGH January 31,2003 account numccr IS TAXPAYER NUMBER On File LAST STATEMENT December 31,2002 DEBIT AMOUNT CREDIT AMOUNT 413,789.00 $-14,989,500.00 $14,376,739.01 SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 10,000,000.00 101.4375 10,143,750.00 The above trades do not appear in any other section of this statement (stop) ****** End of Statement*** $20.204,687.50 027 02101/03;16:12 001 ve40 EFTA00195771