Statements EFTA00196734

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue BEAR STEARNS ACCOUNT EXECUTIVE = ZICHERMAN, IRA Tevepoone VISIT OUR WEBSITE — www.bearstearns.com What’s In This Statement Financial Summary , 3 Your Portfolio Holdings 4 Transaction Detail ......sesseneeneres 5 Fund Activity vssesensen » 10 Trades Not Yet Settled 13 Your Messages 13 Your Portfolio at a Glance $65,990,490 TOTAL VALUE OF SECURITIES THIS PERIOD 53,738,664 — °@8h & Equivalent mee ; $-28,399,636 738,664 coves NRE 551 73775 MONEY MARKET FUND BALANCE 65,990,490 NET EQUITY THIS PERIOD $1 {9.729.154 NET EQUITY LAST STATEMENT 53,338,121 CHANGE SINCE LAST STATEMENT 66,391,034 There are no "Stop Loss’ orders or other pending buy or sell open orders on file for your account. Ploase mport any difference cr noe-roceigt of checks or stocks, indicated as delivered to you, % Client Senices at 800-624-1428; or write to Clont Services at Bear, Steams Securities Comp., One Metrotech Center North, Brooklyn, N.Y. 11201-3859. New = New York 10179 FINANCIAL TRUST COMPANY INC C/O AMERICAN YACHT HARBOR 6100 RED HOOK SUTE B-3 QUAETERS #2 ST THOMAS VI 00802-1348 Market Value of Your Portfolio HE Current market value SESY Last statements market value (C) Short 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 COMPANY INC STATEMENT PERIOO December 1, 2004 THROUGH December 31, 2004 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT Novernber 30, 2004 Important Message if any information regarding 2004 interest, dividends, miscellaneous income, gross proceeds or original issue discount is required to be reported to the IRS for this account, a Consolidated Form 1099 will be mailed to you by January 31,20050r a 1042Sby March 15,2005. ‘This statemem should be retained for your records. See reverse side for important information, o27 01/01/08;09:18 001 vas? EFTA00196735

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2 of 13 STATEMENT BACKER IS PRINTED ON THIS PAGE 01/01/08;09:18 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC EFTA00196736

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North BEAR 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York New York 10179 as | FINANCIAL TRUST COMPANY INC 3 of ta STATEMENT PERIOO December 1, 2004 THROUGH December 31,2004 . account xumccr = Cash Flow Analysis Cash Balance Summary TANPAVER NUMBER On File THIS PERIOD OPENING CLOSING $-28,399,635.50 LAST STATEMENT Novernber 30, 2004 Balance Margin -28,399.635.50 0.00 Securities Sold 76,155,563.42 NetCashBalance —_$-28,399,635.50 $0.00 Money Fund 908,000.38 sesssseceesesssannsreesansesenseesse esses aueseeteueseetes sesnseesee Funds Deposited 28,974,025.30 Dividends/Interest 240,796.00 Miscellaneous 35,500,000.00 Income Summary THIS PERIOD YEAR TO DATE Amount Credited $141,175,614.08 Dividends 240,796.00 —‘1,373,296.60 Substitute Payment 0.00 85,222.00 Securities Bought -46,416,875.96 ubsense raymen Credit Balance Int. 0.00 398.34 Funds Withdrawn 12,500.00 Total. aseunveseereeeeeesnesssse0 POLIO OO gone ASG. 84 eae Dividends’Interest Charged -50,882.91 Foreign Tax Withheld 0.00 2,033.91 Margin Int. Paid -50,882.91 -549,945.53 Your Portfolio Allocation Net Cash Activity 28,399,635.50 Ghoeing Babar sasetsensssteasssstsontonssntsnssnt seen oc emeensiie Portfolio Composition Sect 4c tanators, os well a Gola tral oer wansacora, ia pafod, CashiCash Equivalent 65,990,490 srpeer in Transaction Detal Equities 53,738,664 Equities 44% ‘Tash & Equivale 56% Unehaded portions denote debt balance andior short market values. The alocation percentage is derived from the absohte market value of your portloio, 027 01/01/08;09:18 001 vas? EFTA00196737

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BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New = New York 10179 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC 4oan STATEMENT PERIOO December 1, 2004 December 31,2004 accoumt nuvecr TAXPAYER NUMBER On File THROUGH LAST STATEMENT November 30, 2004 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED CURRENT DESCRICTION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME YIELD ('%} DREYFUS CASH MANAGEMENT-CL A DICKX 65,990,490.35 1.0000 65,990,490 1,121,838 1.7000 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 2,0100% TOTAL CASH & CASH EQUIVALENTS $65,990,490 $1,121,838 EQUITIES Equities & Options The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the Firm's Equity Research Department, The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: O = Outperform; P = Peer Perform; U = Underperform, The second rating represents the rating of the coverage universe relative to the regional broader market index, The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight, In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available. The various providers have normalized their ratings systems as follows: B = Buy; H = Hold; S = Sell. The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider, The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost, Customers can access this research at www ,bearsteams,com or can call (800) 517-2327 to request that a copy of this research be sent to them, ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TYPE QUANTITY PRIKEE VALUE ANNUAL INCOME YELD [%} BEAR STEARNS COMPANIES INC BSc CASH 300,000 102.3100 30,693,000 300,000 0.9774 DEERFIELD TRIARC CAP CORP 244572202 CASH 1,000,000 15.0000 15,000,000 ACCREDITED INVESTORS IFIL(IST FIN ITAL) \FPSF CASH 100,000 4.5140 451,400 8,400 1.8609 EUR1 INVST CL KERZNER INTERNATIONAL LTD K2L CASH 4,400 60.0500 264,220 027 01/01/08;09:18 001 vae? EFTA00196738

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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 fl Le FINANCIAL TRUST COMPANY INC 5 of 19 STATEMENT PERIOO December 1, 2004 THROUGH December 31, 2004 Your Portfolio Holdings (continued) accouvt numece | TAXPAYER NUMBER On File sas . LAST STATEMENT Novernber 30, 2004 Equities & Options (continued) ACCT MARKET ESTIMATED CURRENT DESCRETION SYMBOLCUSIP TPE QUANTITY PRICE VALUE ANNUAL INCOME YELD 1%} TOO INC TOO CASH 50,000 24.4600 1,223,000 BSC RATING: STOCK P/SECTOR MW GARP RESEARCH RATING: B VECTOR GROUP LTD VGR CASH 326,990 16.6300 5,437,844 523,184 9.6212 WYNN RESORTS LTD WYNN CASH 10,000 66.9200 669.200 Total Equities& Options $53,738,664 $831,584 TOTAL EQUITIES $53,738,664 $831,584 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,953,422 YOUR PRICED PORTFOLIOHOLDINGS $119,729,154 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDNT AMOUNT 12/01/04 JOURNAL WALT DISNEY CO HOLDING CO DIS -250,000 JOURNAL FROM TYPE 1 TO 2 12/01/04 JOURNAL FLEXTRONICS INTERNATIONAL FLEX -100,000 LID JOURNAL FROM TYPE 1 TO 2 027 01/01/08;09:18 001 vas? EFTA00196739

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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 Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 | | FINANCIAL TRUST COMPANY INC 6 of 13 STATEMENT PERIOO December 1, 2004 THROUGH December 31,2004 Transaction Detail (continued) accouvt xumccr TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT — Novernber 30, 2004 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT GREOIT AMOUNT 12/01/04 JOURNAL WALT DISNEY CO HOLDING CO DIS 250,000 JOURNAL FROM TYPE 1 TO 2 2101/04" JOURNAL FLEXTRONICS INTERNATIONAL FLEX 100,000 uD JOURNAL FROM TYPE 1 TO 2 UNSOLICITED BEAR, STEARNS & O00, INC, IS A SUBSIDIARY OF THE ISSUER, 12/06/04 12/01/04 BOUGHT BEAR STEARNS COMPANIES INC BSC 100 100.00000 10,080.00 UNSOLICITED BEAR, STEARNS & CO, INC, IS A SUBSIDIARY OF THE ISSUER, 12/09/04 JOURNAL BANK OF AMERICA CORP BAC 100,000 JOURNAL FROM TYPE 2 TO 1 AL -100,000 JOURNAL FROM TYPE 2 TO 1 {209/04 JOURNAL VECTOR GROUP LTD VGR JOURNAL FROM TYPE 2 TO 1 (04 =SOLD BANK OF AMERICA CORP UNSOLICITED 12/10/04 12/07/04 SOLD WALT DISNEY CO HOLDING CO DIS -192,100 27.30910 5,234,424.35 WITH RIGHTS TO PURCHASE COMMON STK UNDER CERTAIN CIRCUMSTANCE UNSOLICITED 12/09/04 46.52070 4,645,956.14 12/10/04 12/07! 12/10/04 12/07/04 SOLD MBNA CORP KRB -322,800 26.23850 8,450,216.60 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED 027 01/01/08;09:18 001 vas? EFTA00196740

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beas, Stearns Securities Corp. Bear, Stearns & Co. Inc. One Metrotech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 | | FINANCIAL TRUST COMPANY INC 7 of 9 STATEMENT PERIOO December 1, 2004 THROUGH December 31,2004 Transaction Detail (continued) accouvt xumccr TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT — Novernber 30, 2004 SETTLEMENT = TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLCUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 12/10/04 12/07/04 SOLD TYCO INTERNATIONAL LTD TYC -100,000 34.16670 3,410,585.04 UNSOLICITED UNSOLICITED UNSOLICITED SEE NOTE "S" ON BACK AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED SEE NOTE "S" ON BACK {210104 12/07 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED WITH RIGHTS TO PURCHASE COMMON STK UNDER CERTAIN CIRCUMSTANCE UNSOLICITED AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED 12/15/04 TRANSFER BEAR STEARNS COMPANIES INC 12/16/04 JOURNAL BEAR STEARNS COMPANIES INC BSC 100 JOURNAL FROM TYPE 2 TO 1 12/16/04 JOURNAL BEAR STEARNS COMPANIES INC BSC 300,000 JOURNAL FROM TYPE 2 TO 1 027 01/01/08;09:18 001 vas? EFTA00196741

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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 Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 | | FINANCIAL TRUST COMPANY INC 8 oof 13 STATEMENT PERIOO December 1, 2004 THROUGH December 31,2004 Transaction Detail (continued) accouvt xumccr TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT — Novernber 30, 2004 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT GREOIT AMOUNT 12/16/04 JOURNAL TOO INC TOO 50,000 JOURNAL FROM TYPE 2 TO 1 12/16/04 JOURNAL VECTOR GROUP LTD VGR 376,990 JOURNAL FROM TYPE 2 TO 1 JOURNAL FROM TYPE 2 TO 1 JOURNAL FROM TYPE 2 TO 1 6164 12! JOURNAL FROM TYPE 2 TO 1 JOURNAL FROM TYPE 2 TO 1 WITH RIGHTS TO PURCHASE COMMON STK UNDER CERTAIN CIRCUMSTANCE AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT LID UNSOLICITED WE MAKE A MKT IN THIS SECURITY AVG PRICE: DETAILS ON REQUEST UNIT PRICE 14,452500 DIFFERENCE - 0.060000 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED ACCREDITED INVESTORS PROSPECTUS UNDER SEPARATE MAIL {2/21/04 2768800 173877362'60 {astioa 1376) 12/23/04 12/17) 027 01/01/08;09:18 001 vas? EFTA00196742

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 9 of 13 Transaction Detail (continued) INVESTMENT ACTIVITY (continued) SETTLEMENT TRADE DATE OATE TRANSACTION 12/31/04 12/28/04 BOUGHT SYMBOLICUSIP QUANTITY PRICE 60.83340 DESCRIPTION KERZNER INTERNATIONAL LTD KZL 4,400 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT AS OF 12/28/04 VECTOR GROUP LTD VGR UNSOLICITED SEE NOTE "S* ON BACK WYNN RESORTS LTD WYNN 10,000 WE ARE ACTING AS PRINCIPAL & MARKET MAKER: COMMISSION FIELD IS A COMMISSION EQUIVALENT - DETAILS ON REQUEST UNSOLICITED 12/31/04 12/28/04 SOLD 16.00000 -50,000 12/31/04 = 12/28/04 ° BOUGHT 67.48000 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD December 1, 2004 THROUGH December 31,2004 account uncer TAXPAYER NUMBER On File LAST STATEMENT November 30, 2004 DEBIT AMOUNT 267,935.96 CREDIT AMOUNT 796,976.28 675,405.00 TOTAL DEPOSITS AND WITHDRAWALS CREDIT AMOUNT 1,000,000.00 DATE TRANSACTION 12/01/04 FUNDS REC DESCRIPTION FNDS WIRED TO CITIBANK FROM en DEBIT AMOUNT UNDS REC FNDS WIRED TO CITIBANK FROM FUNDS REC FNDS WIRED TO CITIBANK FROM 2,886,388.00 65,662.00 12'500.00 027 01/01/08,09:18 001 $-46,416,875.96 $76,.155,563.42 vas? EFTA00196743

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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 COMPANY INC 10 of 19 , STATEMENT PERIOO December 1, 2004 THROUGH December 31,2004 Transaction Detail (continued) ———_ | TAXPAYER NUMBER On File DEPOSITS AND WITHDRAWALS (continued) LAST STATEMENT — November 30, 2004 DATE TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 12/29/04 FUNDS REC FNDS WIRED TO CITIBANK FROM 15,000,000.00 a TOTAL $-12,500.00 $28,974,025.30 MONEY FUND ACTIVITY DATE MO'DAY TRANSACTION: DESCRIPTION SYMBOUCUSIP QUANTITY PRICE OESIT AMOUNT (CREDIT AMOUNT 12/01/04 OPENINGBALANCE 0.00 ry —e— LE TG eee ™_ t1eeromemeremenare m eevee SOOT STE 30 ane o—! oon 7 S081 nee tteemereretons {00 ceueeeeneuenecneseneee (sc aeaenesnesenneany INSTITUTIONAL SHARES ‘“igi04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICKK 7,523,745.39 1.0000 7,523,745.39 INSTITUTIONAL SHARES {2/74/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A” Bids 28.911.787.85 1.0000 INSTITUTIONAL SHARES 12/16/04 SOLD DREYFUS CASH MANAGEMENT-CL A DICKX -12,500 1.0000 12,500.00 INSTITUTIONAL SHARES 42/21/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICKX 1.564,662.49 1.0000 1,564,662.49 INSTITUTIONAL SHARES "38.911787.85 INSTITUTIONAL SHARES INSTITUTIONAL SHARES 12/29/04 SOLD DREYFUS CASH MANAGEMENT-CL A DICKK -146,364.68 1.0000 146,364.68 INSTITUTIONAL SHARES 12/30/04 BOUGHT OREYFUS CASH MANAGEMENT-CL a DICKK 443,525.36 ° 1.0000 443,525.36 INSTITUTIONAL SHARES 027 01/01/08;09:18 001 vas? EFTA00196744

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BEAR STEARNS V1 oof 13 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 Transaction Detail (continued) MONEY FUND ACTIVITY (continued) CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD December 1, 2004 THROUGH December 31,2004 account uncer TAXPAYER NUMBER On File LAST STATEMENT November 30, 2004 OATE MODAY TRANSACTION DESCRIPTION SYMBOUCUSIP QUANTITY PRICE CESIT AMOUNT CREDIT AMOUNT 12/31/04 SOLD DREYFUS CASH MANAGEMENT-CL A DICKK 146,364.68 1.0000 146,364.68 INSTITUTIONAL SHARES 12/31/04 CLOSINGBALANCE 65,990,490.35 TOTAL $-66,295,719.71 $305,229.36 DIVIDENDS DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE ($) CEBIT AMOUNT CAEDIT AMOUNT 12/22/04 BANK OF AMERICA CORP BAC 200,000 0.4500 90,000.00 REC 12/03/04 PAY 12/22/04 1 mn mn SR Se Sa a. vee REC 12/17/04 PAY 12/30/04 TOTAL $240,796.00 INTEREST DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE (%) CEBIT AMOUNT (CREDIT AMOUNT 1221/04 INT Ob 50,882.91 11/2 teas . mg TOTAL $-50,882.91 027 01/01/08,09:18 001 vas? EFTA00196745

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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 COMPANY INC 12 of 13 STATEMENT PERIOO December 1, 2004 THROUGH December 31,2004 Transaction Detail (continued) ———_ | TAXPAYER NUMBER On File MISCELLANEOUS LAST STATEMENT November 30, 2004 DATE MONDAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 12/02/04 JOURNAL JOURNAL FROM TYPE 1 TO 2 1,000,000.00 12/02/04 JOURNAL JOURNAL FROM TYPE 1TO2 1,000,000.00 12/08/04 JOURNAL JOURNAL FROM TYPE 1102 '35,500,000.00 12/08/04 JOURNAL FROM 040-94084 35,500,000.00 42/08/04 JOURNAL JOURNAL FROM TYPE 1102 35,500,000.00 12/13/04 JOURNAL JOURNAL FROM TYPE 2T0 1 2,761,972.75 J 12/21/04 JOURNAL JOURNAL FROM TYPE 2TO 1 16,61 5,545.40 12/22/04 " JOURNAL JOURNAL FROM TYPE 2T0 1 90,000.00 TOTAL $-84,930,188.91 $120,430,188.91 027 01/01/08;09:18 001 vas? EFTA00196746

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North BEAR 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York, New York 10179 FINANCIAL TRUST COMPANY INC 13 of 13 STATEMENT PERIOO December 1, 2004 THROUGH December 31,2004 Trades Executed Pending Settlement “ispnven wonsen On Fle LAST STATEMENT November 30, 2004 SETTLEMENT — TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 01/03/05 12/29/04 iH Ki INTERNATIONAL L L 5,600.00 60.6252 339,842.12 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED UNSOLICITED SEE NOTE “S* ON BACK TOTAL $339,842.12 $809,475.98 The above trades do not appear in any other soction of this statement Your messages ice As part of the National Association of Securities Dealer's (NASD) Investor Education Program, you may obtain information on the NASD's Public Disclosure Program by contacting the NASD at telephone number (800) 289-9999 or via the internet address which is www.nasdr.com, In addition, a brochure explaining the Public Disclosure Program is available from the NASD upon request, STOP ****** End of Statement****** 027 01/01/05,08:18 001 vas? EFTA00196747

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue BEAR STEARNS ACCOUNT EXECUTIVE = ZICHERMAN, IRA TevePHone VISIT OUR WEBSITE www.bearstearns.com What’s In This Statement Financial Summary , ' Your Portfolio Holdings . Transaction Detail ......ssessesereeseessees Trades Not Yet Settled .ssssssssesesenes ons Ww Your Portfolio at a Glance New York, New York 10179 FINANCIAL TRUST COMPANY INC C/O AMERICAN YACHT HARBOR * 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio $-28,399,636 TOTAL VALUE OF SECURITIES THIS PERIOD 81,737,756 Sash & Equivalent +——_ §-28 336,981 NET DEBIT BALANCE -28,399,636 sccm ors NET EQUITY LAST STATEMENT 49,152,082 CHANGE SINCE LAST STATEMENT 4,186,039 There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. Please report any difference or nomrecaipt of checks or stocks, indicated as delivered to you, % Client Senices at 800-634-1428; or write to Clont Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3859. $81,737,756 HE Current market value | Last statements market value (C) Short market value This summary bs 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 COMPANY INC STATEMENT PERIOO October 30, 2004 THROUGH November 30, 2004 accouvt nuvecr TAXPAYER NUMBER On File LAST STATEMENT October 29, 2004 ‘This statemem should be retained for your records. See reverse side for important information. 027 12/01/04;14:42 001 Va65A EFTA00196748

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2 of 6 STATEMENT BACKER IS PRINTED ON THIS PAGE 12/01/04;14:42 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC EFTA00196749

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 3 of6 Cash Flow Analysis THIS PERIOD $1,250.00 Dividends/Interest Charged -63,904.01 $-63,904.01 Amount Debited Net Cash Activity -62,654.01 Cash Balance Summary OPENING CLOSING -28,336,981.49 -28,399,635.50 $-28,336,981.49 $-28,399,635.50 Net Cash Balance Income Summary THiS PERIOD Dividends 1,250.00 Substitute Payment 0.00 Credit Balance Int. 0.00 Foreign Tax Withheld 0.00 Margin Int. Paid -63,904.01 Portfolio Composition SHORT Cash/Cash Equivalent 28,399,636 Equities Total $28,399,636 027 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD October 30, 2004 Novernber 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File October 29, 2004 THROUGH YEAR TO DATE 1,132,500.60 85,222.00 LAST STATEMENT -2,033.91 -499,062.62 LONG 81,737,756 Your Portfolio Allocation $81,737,756 Short Cash & Equivalent. 25% Equities 75% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portiatio. 12/01/04;14:42 001 Va65A EFTA00196750

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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 Brocklyn, New York 11201-2859 STEARNS New = New York 10179 | FINANCIAL TRUST COMPANY INC 46 STATEMENT PERIOD October 30, 2004 THROUGH November 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File Your Portfolio Holdings last sTaTeMeNT = October 29, 2004 CASH & CASH EQUIVALENTS NAARKET ESTIMATED CURRENT DESCRICTION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME YIELD ('%} CASH BALANCE -28.399.636 TOTAL CASH & CASH EQUIVALENTS $-28,399,636 EQUITIES Equities & Options The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the Firm's Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst, The key for the stock rating values is as follows: O = Outperform; P = Peer Perform; U = Underperform, The second rating represents the rating of the coverage universe relative to the regional broader market index, The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available, The various providers have normalized their ratings systems as follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider, The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost, Customers can access this research at www.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. AcCT NANRKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TRE QUANTITY PRICE VALUE ___ ANNUAL INCOME YELD (%} BANK OF AMERICA CORP BAC MRGN 200,000 46.2700 9,254,000 360,000 3.8902 BSC RATING: STOCK O’SECTOR MW NAB, RESEARCH, LLC, RATING: B WALT DISNEY CO HOLDING CO bIS CASH 250,000 26.8800 6,720,000 52,500 0.7813 BSC RATING: STOCK P/SECTOR MO BOYAR'S ALTERNATIVE VIEWPOINT RATING: B 027 12/01/04;14:42 001 VE65A EFTA00196751

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North BEAR 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York. New York 10179 fl Le FINANCIAL TRUST COMPANY INC 5 of6 STATEMENT PERIOD October 30, 2004 THROUGH November 30, 2004 Your Portfolio Holdings (continued) account xumccr = TAXPAYER NUMBER On File eas . LAST STATEMENT October 29, 2004 Equities & Options (continued) ACCT MARKET ESTIMATED CURRENT DESCRIPTION ‘SYMBOU'CUSIP TYPE QUANTITY PRICE VALUE ANNUAL INCOME YELD ('} WALT DISNEY CO HOLDING CO DdIS MRGN 1,000,000 26.8800 26,880,000 210,000 0.7813 BSC RATING: STOCK P/SECTOR MO BOYAR'S ALTERNATIVE VIEWPOINT RATING: B FLEXTRONICS INTERNATIONAL FLEX CASH 100,000 14.3500 1,435,000 LD BSC RATING: STOCK O/SECTOR MW ATLANTIS RESEARCH RATING: H IFIL{IST FIN ITAL) \FPSF CASH 100,000 3.8580 385,800 8,200 2.1255 EUR1 INVST CL MBNA CORP KRB MRGN 1,000,000 26.5600 26,560,000 480,000 1.8072 BSC RATING: STOCK O/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATIN TYCO INTERNATIONAL LTD TY MRGN 100,000 33.9700 3,397,000 5,000 0.1472 VECTOR GROUP LTD VGR MRGN 433,290 16.4000 7,105,956 693,264 9.7561 Total Equities& Options $81,737,756 $1,808,964 TOTAL EQUITIES $81,737,756 $1,808,964 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,808.964 YOUR PRICED PORTFOLIOHOLDINGS $53,338,120 027 12/01104;14:42 001 EBSA EFTA00196752

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Transaction Detail CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD October 30,2004 THROUGH November 30, 2004 account uncer TAXPAYER NUMBER On File DIVIDENDS LAST STATEMENT October 29, 2004 DATE CESCRIPTION SYMBOUCUSIP QUANTITY RATE (8) CEBIT AMOUNT CREDIT AMOUNT 11/01/04 TYCO INTERNATIONAL LTD TYG 100,000 0.0125 1,250.00 REC 10/01/04 PAY 11/01/04 TOTAL $1,250.00 INTEREST DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) CEBIT AMOUNT CAEDIT AMOUNT 11/22/04 INT OB 63,904.01 -_— r BAL TOTAL $-63,904.01 Trades Executed Pending Settlement SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 12/03/04 11/30/04 BOUGHT BEAR STEARNS COMPANIES INC BSC 300,000.00 97.1500 29,163,005.00 UNSOLICITED BEAR. STEARNS & CO, INC, IS A SUBSIDIARY OF THE ISSUER, TOTAL $29, 163,005.00 $0.00 The above trades do not appear in any other section of this statement o27 12/01/04;14:42 001 VO65A EFTA00196753

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue BEAR STEARNS ACCOUNT EXECUTIVE = ZICHERMAN, IRA Tevepoone VISIT OUR WEBSITE — www.bearstearns.com What’s In This Statement Financial Summary , 3 Your Portfolio Holdings 4 Transaction Detail .....sscssseeeeneres 6 Your Portfolio at a Glance New York, New York 10179 FINANCIAL TRUST COMPANY INC C/O AMERICAN YACHT HARBOR * 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio $-28,336,981 TOTAL VALUE OF SECURITIES THIS PERIOD 77,489,063 “8h & Equivalent +———_ $-28,923,447 NET DEBIT BALANCE 28,336,981 NET EQUITY THIS PERIOD $49,152,082 NET EQUITY LAST STATEMENT 44,388,702 CHANGE SINCE LAST STATEMENT 4,763,380 There are no "Stop Loss’ orders or other pending buy or sell open orders on file for your account. $77,489,063 HME Current market value SESY Last statements market value (C) Short market value CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD October 1, 2004 THROUGH October 29, 2004 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT September 30, 2004 Please report any diterence or nomreceipt of checks or stocks, indicated as delivered to you, ‘This summary is for informational purposes only. It Is not intended as a tax document, % Client Senices at 800-634-1428; cr write to Clont Services at Boar, Steams Securities ‘This statemem should be retained for your records. See reverse side for important information. Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3869. 02? 10/3004;11:80 001 vaes EFTA00196754

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2 of 6 STATEMENT BACKER IS PRINTED ON THIS PAGE 10/30/04;11:80 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC vaes EFTA00196755

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 3 of 6 Cash Flow Analysis THIS PERIOD Balance $-28,923,447.42 Dividends/Interest 120,000.00 Miscellaneous 526,380.00 Amount Credited $646,380.00 -59,914.07 Dividends/Interest Charged Amount Debited $-59,914.07 586,465.93 Net Cash Activity Cash Balance Summary OPENING CLOSING -28,923,447.42 -28,336,981.49 $-28,923,447.42 $-28,336,981.49 Net Cash Balance CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD October 1, 2004 October 29, 2004 accoumt nuvecr TAXPAYER NUMBER On File THROUGH Income Summary THiS PERIOD YEAR TO DATE LAST STATEMENT September 30, 2004 Dividends 120,000.00 1,131,250.60 Substitute Payment 0.00 85,222.00 Credit Balance Int. 0.00 398.34 Tota ss sseneensernsernesnsss ene SOO coos set OT OM ante Foreign Tax Withheld 0.00 -2,033.91 Margin Int. Paid -59,914.07 -435,158.61 Portfolio Composition SHORT LONG Cash/Cash Equivalent 28,336,981 Equities 77,489,063 ssssueeeeeeensissannuateneeeennneneessousenenn sseunneessanenenees svssnnenteenees Your Portfolio Total $28,336,981 $77,489,063 Allocation Short Cash & Equivalent. 26% — Equities 74% Unshaded portions denote debt batance andicr short market values. The alocation percentage is derived from the absohte market value of your portloio, 027 10/3004;11:80 001 vaes EFTA00196756

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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 Brocklyn, New York 11201-2859 STEARNS New = New York 10179 | FINANCIAL TRUST COMPANY INC 4 of 6 STATEMENT PERIOD October 1, 2004 THROUGH October 29, 2004 accoumt nuvecr TAXPAYER NUMBER On File Your Portfolio Holdings LAST STATEMENT September 30, 2004 CASH & CASH EQUIVALENTS NAARKET ESTIMATED CURRENT DESCRICTION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME YIELD ('%} CASH BALANCE -28.336.981 TOTAL CASH & CASH EQUIVALENTS $-28,336,981 EQUITIES Equities & Options The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the Firm's Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst, The key for the stock rating values is as follows: O = Outperform; P = Peer Perform; U = Underperform, The second rating represents the rating of the coverage universe relative to the regional broader market index, The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available, The various providers have normalized their ratings systems as follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider, The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost, Customers can access this research at www.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. AcCT NANRKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TRE QUANTITY PRICE VALUE ___ ANNUAL INCOME YELD (%} BANK OF AMERICA CORP BAC MRGN 200,000 44.7900 8,958,000 360,000 4.0188 BSC RATING: STOCK O’SECTOR MW NAB, RESEARCH, LLC, RATING: B WALT DISNEY CO HOLDING CO bIS CASH 250,000 25.2200 6,305,000 52,500 0.8327 BSC RATING: STOCK P/SECTOR MO BOYAR'S ALTERNATIVE VIEWPOINT RATING: B o27 10/30/04;11:80 001 vaes EFTA00196757

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North BEAR 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York. New York 10179 fl Le FINANCIAL TRUST COMPANY INC Soe STATEMENT PERIOD October 1, 2004 THROUGH October 29, 2004 Your Portfolio Holdings (continued) account xumccr = TAXPAYER NUMBER On File ember 30, 2004 Equities & Options (continued) LAST STATEMENT September AcCT NANRKET ESTIMATED CURRENT DESCRIPTION SYMBOLICUSIP TPE QUANTITY PRICE VALUE ANNUAL INCOME YELD (%} WALT DISNEY CO HOLDING CO DIS MRGN 1,000,000 25.2200 25,220,000 210,000 0.8327 BSC RATING: STOCK P/SECTOR MO BOYAR'S ALTERNATIVE VIEWPOINT RATING: B FLEXTRONICS INTERNATIONAL FLEX CASH 100,000 12.0500 1,205,000 LD BSC RATING: STOCK O/SECTOR MW ATLANTIS RESEARCH RATING: H IFIL{IST FIN ITAL) \FPSF CASH 100,000 3.5740 357,400 7,800 2.1824 EUR1 INVST CL MBNA CORP KRB MRGN 1,000,000 25.6300 25,630,000 480,000 1.8728 BSC RATING: STOCK O/SECTOR MW bald ALTERNATIVE VIEWPOINT TYCO INTERNATIONAL LTD TY MRGN 100,000 31.1500 3,115,000 5,000 0.1605 VECTOR GROUP LTD VGR MRGN 433,290 15.4600 6,698,663 693,264 10.3493 Total Equities& Options $77,489,063 $1,808,564 TOTAL EQUITIES $77,489,063 $1,808,564 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,808,564 YOUR PRICED PORTFOLIOHOLDINGS $49,152,082 027 10/30004;11:80 001 aes EFTA00196758

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BEAR STEARNS 6 of 6 Transaction Detail OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD October 1, 2004 THROUGH October 29, 2004 account uncer TAXPAYER NUMBER On File DIVIDENDS LAST STATEMENT September 30, 2004 DATE CESCRIPTION SYMBOUCUSIP QUANTITY RATE (8) CEBIT AMOUNT CREDIT AMOUNT 10/01/04 MBNA CORP KAB 7,000,000 0.1200 120,000.00 REC 09/15/04 PAY 10/01/04 TOTAL $120,000.00 INTEREST DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) CEBIT AMOUNT CAEDIT AMOUNT 10/21/04 INT OB 59,914.07 09/21 . BAL TOTAL $-59,914.07 MISCELLANEOUS DATE MODAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 10/01/04 JOURNAL FROM [i 178,068.00 TOTAL $526,380.00 lo [stop ****** End of Statement™***** \ / 027 10/30904;11:80 001 vaes EFTA00196759

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS _——-" 10179 ACCOUNT EXECUTIVE = ZICHERMAN, IRA TevePHone VISIT OUR WEBSITE www.bearstearns.com What’s In This Statement Financial Summary , : Your Portfolio Holdings . Transaction Detail ......s.sessesseresseeerees Your M@SSAQES siyssssesssrenenssnssssnsveceseensens on w Your Portfolio at a Glance CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD September 1, 2004 THROUGH September 30, 2004 accout nuvecr Hasalbcsbeslsllsssahil TAXPAYER NUMBER On File LAST STATEMENT August 31, 2004 FINANCIAL TRUST COMPANY INC C/O AMERICAN YACHT HARBOR * 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio $-28,923,447 TOTAL VALUE OF SECURITIES THIS PERIOD 73,312,149 Sash & Equivalent —— $-29,121.602 NET DEBIT BALANCE -28,923,447 NET EQUITY THIS PERIOD $44,388,702 NET EQUITY LAST STATEMENT 43,679,493 CHANGE SINCE LAST STATEMENT 709,209 There are no "Stop Loss’ orders or other pending buy or sell open orders on file for your account. Please report any difference or nomreceipt of checks or stocks, indicated as delivered to you, % Client Senices at 800-624-1428; or write to Clont Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3859. $73,312,149 HE Current market value py Last statements market value ([) Short 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 oz? 10/01/04;07:49 001 vaea EFTA00196760

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2 of9 STATEMENT BACKER IS PRINTED ON THIS PAGE 10/01/04;07:49 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC vae3 EFTA00196761

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 3 of9 Cash Flow Analysis THIS PERIOD Balance $-29,121,602.33 Dividends/Interest 255,063.20 Miscellaneous 13.81 Amount Credited $255,077.01 -56,922.10 Dividends/Interest Charged Amount Debited $-56,922.10 198,154.91 Net Cash Activity Cash Balance Summary OPENING CLOSING -29,121,602.33 -28,923,447.42 $-29,121,602.33 $-28.923,447.42 Net Cash Balance Income Summary THiS PERIOD YEAR TO DATE Dividends 255,063.20 1,011,250.60 Substitute Payment 0.00 85,222.00 Credit Balance Int. 0.00 398.34 Foreign Tax Withheld 0.00 -2,033.91 Margin Int. Paid -56,922.10 -375,244.54 Portfolio Composition SHORT LONG Cash/Cash Equivalent 28,923,447 Equities 73,312,149 Total $28,923,447 $73,312,149 027 10/01/04;07:49 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD September 1, 2004 September 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File August 31, 2004 THROUGH LAST STATEMENT Your Portfolio Allocation Short Cash & Equivalent 28% — Equities 72% Unshaded portions denote debt batance andicr short market values. The alocation percentage is derived from the absohte market value of your portloio, vae3 EFTA00196762

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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 11201-2859 STEARNS New _ New York 10179 Pe FINANCIAL TRUST COMPANY INC 4g STATEMENT PERIOD September 1, 2004 THROUGH September 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File Your Portfolio Holdings LAST STATEMENT August 31,2004 CASH & CASH EQUIVALENTS NAARKET ESTIMATED CURRENT DESCRICTION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME YIELD ('%} CASH BALANCE -28.923.447 TOTAL CASH & CASH EQUIVALENTS $-28,923,447 EQUITIES Equities & Options The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the Firm's Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst, The key for the stock rating values is as follows: O = Outperform; P = Peer Perform; U = Underperform, The second rating represents the rating of the coverage universe relative to the regional broader market index, The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available, The various providers have normalized their ratings systems as follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider, The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost, Customers can access this research at www.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. AcCT NANRKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TRE QUANTITY PRIE VALUE __ ANNUAL INCOME YELD (%} BANK OF AMERICA CORP BAC MRGN 200,000 43.3300 8.666.000 360,000 4.1542 BSC RATING: STOCK O’SECTOR MW NAB, RESEARCH, LLC, RATING: B WALT DISNEY CO HOLDING CO bIS CASH 250,000 22.5500 5,637,500 52,500 0.9313 BSC RATING: STOCK P/SECTOR MO BOYAR'S ALTERNATIVE VIEWPOINT RATING: B o27 10/01/04;07:49 001 va63 EFTA00196763

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North BEAR 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York. New York 10179 fl Le FINANCIAL TRUST COMPANY INC 5 of9 STATEMENT PERIOD September 1, 2004 THROUGH September 30, 2004 Your Portfolio Holdings (continued) account xumccr = TAXPAYER NUMBER On File LAST STATEMENT August 31,2004 Equities & Options (continued) ™ ACCT MARKET ESTIMATED CURRENT DESCRIPTION ‘SYMBOU'CUSIP TYPE QUANTITY PRICE VALUE ANNUAL INCOME YELD ('} WALT DISNEY CO HOLDING CO DdIS MRGN 1,000,000 22.5500 22,550,000 210,000 0.9313 BSC RATING: STOCK P/SECTOR MO BOYAR'S ALTERNATIVE VIEWPOINT RATING: B FLEXTRONICS INTERNATIONAL FLEX CASH 100,000 13.2500 1,325,000 LD BSC RATING: STOCK O/SECTOR MW ATLANTIS RESEARCH RATING: B IFIL{IST FIN ITAL) \FPSF CASH 100,000 3.5530 355,300 7,700 2.1672 EUR1 INVST CL MBNA CORP KRB MRGN 1,000,000 25.2000 25,200,000 480,000 1.9048 BSC RATING: STOCK O/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATIN TYCO INTERNATIONAL LTD TY MRGN 100,000 30.6600 3,066,000 5,000 0.1631 VECTOR GROUP LTD VGR MRGN 433,290 15.0300 6,512,349 693,264 10.6454 Total Equities& Options $73,312,149 $1,808,464 TOTAL EQUITIES $73,312,149 $1,808,464 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,808,464 YOUR PRICED PORTFOLIOHOLDINGS $44,388,702 027 10/01/04;07:49 001 vaea EFTA00196764

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS a" 10179 Transaction Detail CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOO September 1, 2004 THROUGH September 30, 2004 account uncer TAXPAYER NUMBER On File INVESTMENT ACTIVITY LAST STATEMENT — August 31, 2004 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 09/29/04 09/20/04 BOUGHT VECTOR GROUP LTD VGR 20,632 SEE NOTE "S" ON BACK STK DIV ON 412658 SHS REC 09/20/04 PAY 09/29/04 AS OF 09/20/04 TOTAL DIVIDENDS DATE DESCRIPTION SYMBOUIOUSIF QUANTITY RATE ($) DEBIT AMOUNT CAEDIT AMOUNT 09/24/04 BANK OF AMERICA CORP BAC 200,000 0.4500 90,000.00 REC 09/03/04 PAY 09/24/04 TOTAL $255,063.20 INTEREST DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE (%b DEBIT AMOUNT CREDIT AMOUNT INT OB 56,922.10 08/21 - 09/20 @02,27016% BAL 29121602 AVG29118197 TOTAL $-56,922.10 10/01/04;07:49 001 vae3 EFTA00196765

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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 Le FINANCIAL TRUST COMPANY INC 7 of9 STATEMENT PERIOO September 1, 2004 THROUGH September 30, 2004 Transaction Detail (continued) account xumccr = TAXPAYER NUMBER On File DISTRIBUTION LAST STATEMENT — August 31, 2004 DATE TRANSACTION DESCAIPTION SYMBOUUSIF QUANTITY RATE (8) DEBIT AMOUNT CREDIT AMOUNT 09/02/04 STOCK SPLIT BANK OF AMERICA CORP BAC 100,000 STK SPLIT ON 100000 SHS REC 08/06/04 PAY 08/27/04 TOTAL MISCELLANEOUS DATE MOVDAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 09/30/04 CASH-LIEU VECTOR GROUP LTD 13.81 CASH IN LIEU OF ,90000 REC 09/20/04 PAY 09/29/04 TOTAL $13.81 oz? 10/01/04;07:49 001 vaea EFTA00196766

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BEAR STEARNS 8 of9 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New = New York 10179 Your messages i Bear, Stearns Securities Corp, Net Capital and Net Capital Requirements: At May 31, 2004 and July 31, 2004, the Company's net capital of approximately $3,6 billion and $3,6 billion was approximately 6,8% and 6,5% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately $1.1 billion and $1,1 billion by approximately $2,5 billion and $2,5 billion, all respectively, A complete copy of the Bear, Stearns Securities Corp, Statement of Financial Condition is available on the web site www,bearstearns,com, Alternatively, to request a free printed copy please call - toll free 1-866-299-9331, = CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD September 1, 2004 September 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File THROUGH LAST STATEMENT August 31,2004 Securities and other assets in your account are the firm's collateral for any margin loan made to you. If the securities and other assets in your account decline in value, so does the value of the collateral supporting your loan, and, as a result, the firm can take action, such as issue a margin call and/or sell securities or other assets in any of your accounts held with the member, in order to maintain the required equity in the account. It is important that you fully understand the risks involved in trading securities on margin, These risks include the following: * You can lose more funds than you deposit in the margin account, * The firm can force the sale of securities or other assets in your account(s), “ The firm can sell your securities or other assets without contacting you. * You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold to meet a margin call, * The firm can increase its "house" maintenance margin requirements at any time and is not required to provide you advance written notice. * You are not entitled to an extension of time on a margin call, 027 10/01/04;07:49 001 va63 EFTA00196767

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BEAR STEARNS 9 of9 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New = New York 10179 i This statement is provided to explain Bear, Stearns & Co, Inc.'s ("BSC") payment for order flow practices. BSC routes a majority of orders for customer securities transactions to the primary market for such securities, Orders may also be routed to other market service vendors that assure executions pursuant to complex mathematical formulas at better than the national best bid or best offer (NBBO), BSC receives no cash payment or other consideration for such order routing other than favorable executions or executions of limit orders at no additional charge. ****** End of Statement****** CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD September 1, 2004 THROUGH September 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File LAST STATEMENT August 31,2004 ie Pursuant to SEC Rule 11Ac1-6, please note the following: Bear, Stearns & Co, Inc, will post its quarterly routing statistics at the following web link: http:/Avww,bearstearns.com, Click on Individual Investor, Click on Equities, Click on Order Routing Practices, Customers of Bear, Stearns & Co, Inc, may request information on any order executed within the prior six months from the time of the request. Specifically, you may request the identity of the venue to which the identified orders were routed for execution, whether the order was directed by you to that venue, and the time of the executions, if any, that resulted from such orders, 027 10/01/04;07:49 001 vaea EFTA00196768

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS _——- 10179 ACCOUNT EXECUTIVE = ZICHERMAN, IRA TevepHone VISIT OUR WEBSITE www.bearstearns.com What’s In This Statement Financial Summary ,. » 3 Your Portfolio Holdings . 4 Transaction Detail .....ssssseenees 6 Your Portfolio at a Glance CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERWOO July 31, 2004 THROUGH August 31,2004 accout nuvecr | PP | ery end eee TAXPAYER NUMBER On File LAST STATEMENT July 30, 2004 FINANCIAL TRUST COMPANY INC C/O AMERICAN YACHT HARBOR * 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS Vi 00802 Market Value of Your Portfolio $-29,121,602 TOTAL VALUE OF SECURITIES THIS PERIOD + 72,801,095 —°#8h & Equivalent — $-29,070,063 NET DEBIT BALANCE -29,121,602 NET EQUITY THIS PERIOD $43,679,493 NET EQUITY LAST STATEMENT 44,186,707 CHANGE SINCE LAST STATEMENT -507,214 There are no "Stop Loss’ orders or other pending buy or sell open orders on file for your account. Please report any difference or nomreceipt of checks or stocks, indicated as delivered to you, % Client Senices at 800-634-1428; or write to Clont Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3859. $72,801,095 HME Current market value SESE Last statements market value ([) Short market value This summary is for informational purposes only. It ts not intended as a tax document ‘Ths statemem should be retamed for your records See reverse side for important imformation. oz? 09/01/04;08:31 001 vae2 EFTA00196769

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2 of? STATEMENT BACKER IS PRINTED ON THIS PAGE 08/01/04,06:31 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC vaé2 EFTA00196770

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 3 of? Cash Flow Analysis THIS PERIOD $1,250.00 Dividends/Interest Charged -52,788.94 Amount Debited . $-52,788.94 . Net Cash Activity -51,538.94 Cash Balance Summary OPENING -29,070,063.39 CLOSING -29,121,602.33 $-29,070,063.39 $-29,121,602.33 Net Cash Balance Income Summary THiS PERIOD Dividends 1,250.00 Substitute Payment 0.00 Credit Balance Int. 0.00 Foreign Tax Withheld 0.00 -52,788.94 Margin Int. Paid Portfolio Composition SHORT Cash/Cash Equivalent 29,121,602 Equities Total $29,121,602 027 $72,801,095 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD July 31, 2004 August 31,2004 accoumt nuvecr TAXPAYER NUMBER On File July 30, 2004 THROUGH YEAR TO DATE 756,187.40 85,222.00 398.34 LAST STATEMENT -2,033.91 -318,322.44 LONG 72,801,095 Your Portfolio Allocation Short Cash & Equivalent 28% — Equities 72% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portiatio. 08/01/04,06:31 001 vaé2 EFTA00196771

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New = New York 10179 4o7 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED CURRENT DESCRICTION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME YIELD ('%} CASH BALANCE -29.121.602 TOTAL CASH & CASH EQUIVALENTS $-29,121,602 EQUITIES Equities & Options CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERWOO July 31, 2004 THROUGH August 31,2004 accoumt nuvecr TAXPAYER NUMBER On File LAST STATEMENT July 30, 2004 The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the Firm's Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst, The key for the stock rating values is as follows: O = Outperform; P = Peer Perform; U = Underperform, The second rating represents the rating of the coverage universe relative to the regional broader market index, The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available, The various providers have normalized their ratings systems as follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider, The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost, Customers can access this research at www.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. ACCT DESCRIPTION SYMBOUCUSIP TRE BANK OF AMERICA CORP BAC MRGN BSC RATING: STOCK O’SECTOR MW NAB, RESEARCH, LLC, RATING: B QUANTITY 100,000 250,000 WALT DISNEY CO HOLDING CO bIS CASH BSC RATING: STOCK P/SECTOR MO BOYAR'S ALTERNATIVE VIEWPOINT MARKET PRIE VALUE 44.9800 4,498,000 22.4500 5,612,500 ESTIMATED OURRENT ANNUAL INCOME YELD [%} 180,000 4.0018 52,500 0.9354 RATING: B 027 09/01/04;08:31 001 vaé2 EFTA00196772

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North BEAR 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York New York 10179 fl Le FINANCIAL TRUST COMPANY INC 5 of? STATEMENT PERIOD July 31, 2004 THROUGH August 31,2004 Your Portfolio Holdings (continued) account xumccr = TAXPAYER NUMBER On File duly 30, 2004 Equities & Options (continued) LAST STATEMENT uly ACCT NANRKET ESTIMATED CURRENT DESCRIPTION SYMBOLICUSIP TPE QUANTITY PRICE VALUE ANNUAL INCOME YELD (%} WALT DISNEY CO HOLDING CO DIS MRGN 1,000,000 22.4500 22,450,000 210,000 0.9354 BSC RATING: STOCK P/SECTOR MO BOYAR'S ALTERNATIVE VIEWPOINT RATING: B FLEXTRONICS INTERNATIONAL FLEX CASH 100,000 12.4100 1,241,000 uD BSC RATING: STOCK O/SECTOR MO ATLANTIS RESEARCH RATING: B IFIL{IST FIN ITAL) \FPSF CASH 100,000 3.2170 321,700 9,128 2.8374 EUR1 INVST CL MBNA CORP KRB MRGN 1,000,000 24.1400 24,140,000 480,000 1.9884 BSC RATING: STOCK O/SECTOR MW BOYAR'S ALTERNATIVE VIEWPOINT RATIN TYCO INTERNATIONAL LTD TY MRGN 100,000 31.3200 3,132,000 5,000 0.1596 VECTOR GROUP LTD VGR MRGN 412,658 16.7400 6,907,895 660,253 9.5579 Total Equities& Options $68,303,095 $1,596,881 TOTAL EQUITIES $68,303,095 $1,596,881 027 09/01/04;08:31 001 va62 EFTA00196773

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS of? Your Portfolio Holdings (continued) OTHER HOLDINGS CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD July 31, 2004 August 31,2004 accoumt nuvecr TAXPAYER NUMBER On File THROUGH . ow . LAST STATEMENT July 30, 2004 Pending Stock Distributions acer NANRKET ESTIMATED CURRENT DESCRIPTION SYMBOLICUSP TYPE QUANTITY PRICE VALUE __ ANNUAL INCOME ELD (%) BANK OF AMERICA CORP BAC MAGN 100,000 44.9800 4,498,000 180,000 4.0018 STK SPLIT ON 100000 SHS REC 08/06/04 PAY 08/27/04 Total Pending Stock Distribution $4,498,000 $180,000 TOTAL OTHER HOLDINGS $4,498,000 $180,000 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,776,881 YOUR PRICED PORTFOLIOHOLDINGS $43,679,493 Transaction Detail DIVIDENDS DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE ($) CEBIT AMOUNT CREDIT AMOUNT 08/02/04 TYCO INTERNATIONAL LTD Ty¢ 100,000 0.0125 1,250.00 REC 07/01/04 PAY 08/02/04 TOTAL $1,250.00 027 08/01/04,06:31 001 vaé2 EFTA00196774

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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 —— 10179 FINANCIAL TRUST COMPANY INC 7 of? STATEMENT PERIOO July 31, 2004 THROUGH August 31,2004 account uncer TAXPAYER NUMBER On File Transaction Detail (continued) INTEREST LAST statement July 30, 2004 DATE CESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) OEBIT AMOUNT CREDIT AMOUNT 08/23/04 INT DOB ma 52,788.94 07/21 OR. BAL TOTAL $-52,788.94 [stop] “*ee** End of Statement™***** 027 08/01104;08:31 001 vae2 EFTA00196775

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS ACCOUNT EXECUTIVE = ZICHERMAN, IRA TevepHone | VISIT OUR WEBSITE www.bearstearns.com What’s In This Statement Financial Summary ,. : 3 Your Portfolio Holdings . 4 Transaction Detail .....sscssseeneres 6 Your Portfolio at a Glance CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD July 1, 2004 THROUGH ACCOUNT NUMBER TAXPAYER NUMBER On File LAST STATEMENT FINANCIAL TRUST COMPANY INC C/O AMERICAN YACHT HARBOR * 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS Vi 00802 Market Value of Your Portfolio $-29,070,063 TOTAL VALUE OF SECURITIES THIS PERIOD 73,256,770 —°#sh & Equivalent +——_F $-28,772,876 NET DEBIT BALANCE -29,070,063 NET EQUITY THIS PERIOD $44,186,707 NET EQUITY LAST STATEMENT 49,113,488 CHANGE SINCE LAST STATEMENT -4,926,781 There are no "Stop Loss’ orders or other pending buy or sell open orders on file for your account. Please report any difference or nomreceipt of checks or stocks, indicated as delivered to you, % Client Senices at 800-634-1428; or write to Clont Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3859. 73,256,770 HE Current market value pay Last statements market value () Short 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 oz? 07/31104;08:41 001 July 30, 2004 June 30, 2004 vasa EFTA00196776

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2 of? STATEMENT BACKER IS PRINTED ON THIS PAGE 07/3110406:41 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC vasa EFTA00196777

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 3 of? Cash Flow Analysis THIS PERIOD Balance $-28,772,875.93 127,533.00 Dividends/Interest Miscellaneous 24,618,788.69 $24,746,321.69 Funds Withdrawn -25,000,000.00 Dividends/Interest Charged 41,475.24 Miscellaneous -2,033.91 Amount Debited Net Cash Activity $-25,043,509.15 -297,187.46 ‘Same day transfers of cash between account types are not included in this section; such transfers, as well as details for all other transactions tis period, appear in Transaction Detail. Cash Balance Summary OPENING CLOSING Cash 1,658,956.03 0.00 Margin -30,431,831.96 -29,070,063.39 Net Cash Balance $-28,772,875.93 $-29.070,063.39 Income Summary THiS PERIOD YEAR TO DATE Dividends 127,533.00 754,937.40 Substitute Payment 0.00 85,222.00 Credit Balance Int. 0.00 398.34 Foreign Tax Withheld -2,033.91 -2,033.91 Margin Int. Paid -41,475.24 -265,533.50 Portfolio Composition SHORT LONG Cash/Cash Equivalent 29,070,063 Equities 73,256,770 Total $29,070,063 $73,256,770 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD July 1, 2004 July 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File June 30, 2004 THROUGH LAST STATEMENT Your Portfolio Allocation Short Cash & Equivalent 28% 027 07/31/04;08:41 001 — Equities 72% Unshaded portions denote debt batance andicr short market values. The alocation percentage is derived from the absohte market value of your portloio, vasa EFTA00196778

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New = New York 10179 BEAR STEARNS 4o7 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED CURRENT DESCRICTION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME YIELD ('%} CASH BALANCE -29.070.063 TOTAL CASH & CASH EQUIVALENTS $-29,070,063 EQUITIES Equities & Options CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD July 1,2004 July 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File THROUGH LAST STATEMENT June 30, 2004 The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the Firm's Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst, The key for the stock rating values is as follows: O = Outperform; P = Peer Perform; U = Underperform, The second rating represents the rating of the coverage universe relative to the regional broader market index, The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available, The various providers have normalized their ratings systems as follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider, The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost, Customers can access this research at www.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. ACCT DESCRIPTION SYMBOUCUSIP TRE BANK OF AMERICA CORP BAC MRGN BSC RATING: STOCK O’SECTOR MW NAB, RESEARCH, LLC, RATING: B WALT DISNEY CO HOLDING CO bIS CASH BSC RATING: STOCK P/SECTOR MO BOYAR'S ALTERNATIVE VIEWPOINT QUANTITY 100,000 250,000 MARKET PRKE VALUE 85.0100 8,501,000 23.0900 5,772,500 ESTIMATED CURRENT ANNUAL INCOME YELD [%} 360,000 4.2348 52,500 0.9095 RATING: B 027 07/31/04;08:41 001 vasa EFTA00196779

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North BEAR 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York. New York 10179 fl Le FINANCIAL TRUST COMPANY INC 5 of? STATEMENT PERIOO July 1, 2004 THROUGH July 30, 2004 Your Portfolio Holdings (continued) account xumccr = TAXPAYER NUMBER On File sas . LAST STATEMENT June 30, 2004 Equities & Options (continued) AcCT NANRKET ESTIMATED CURRENT DESCRIPTION SYMBOLICUSIP TPE QUANTITY PRICE VALUE ANNUAL INCOME YELD (%} WALT DISNEY CO HOLDING CO DIS MRGN 1,000,000 23.0900 23,090,000 210,000 0.9095 BSC RATING: STOCK P/SECTOR MO BOYAR'S ALTERNATIVE VIEWPOINT RATING: B FLEXTRONICS INTERNATIONAL FLEX CASH 100,000 12.5700 1,257,000 LD BSC RATING: STOCK O/SECTOR MO ATLANTIS RESEARCH RATING: B IFIL{IST FIN ITAL) \FPSF CASH 100,000 3.3040 330,400 8,891 2.6910 EUR1 INVST CL MBNA CORP KRB MRGN 1,000,000 24.6900 24,690,000 480,000 1.9441 BSC RATING: STOCK O/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATIN TYCO INTERNATIONAL LTD TY MRGN 100,000 31.0000 3,100,000 5,000 0.1613 VECTOR GROUP LTD VGR MRGN 412,658 15.7900 6,515,870 660,253 10.1330 Total Equities& Options $73,256,770 $1,776,644 TOTAL EQUITIES $73,256,770 $1,776,644 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,776,644 YOUR PRICED PORTFOLIOHOLDINGS $44,186,707 027 07/31/04;08:41 001 vasa EFTA00196780

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 6 of? Transaction Detail DEPOSITS AND WITHDRAWALS DATE TRANSACTION DESCRIPTION DEBIT AMOUNT 07/06/04 FND WIRED MD. FNDS WIRED TO 12,500,000.00 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD July 1,2004 duly 30, 2004 account uncer TAXPAYER NUMBER On File June 30, 2004 THROUGH LAST STATEMENT CREDIT AMOUNT 104 END WIRED MDA NDS WIRED TO 12,500,000.00 BOOK TOTAL $-25,000,000.00 DIVIDENDS DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE (8) CEBIT AMOUNT CREDIT AMOUNT 07/01/04 IFIL{IST FIN ITAL) IFPSF 100,000 0.0620 7,533.00 EUR1 INVST CL WH 2,033.91 REC 06/30/04 PAY 07/01/04 FOREIGN TAX WITHHELD MBNA CORP KRB 1,000,000 0.1200 120,000.00 REC 06/14/04 PAY 07/01/04 TOTAL $-2,033.91 $127,533.00 INTEREST DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE (5) DEBIT AMOUNT CREDIT AMOUNT INT OB f ] 41,475.24 BAL TOTAL $-41,475.24 027 07/31/04;06:41 001 vasa EFTA00196781

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 7 ot? Transaction Detail (continued) MISCELLANEOUS DATE MOVDAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 07/01/04 JOURNAL FROM 07/01/04 348,313.00 JOURNAL *JAL* rom lll 07/02/04 JOURNAL JOURNAL FROM TYPE 1102 TOTAL $-2,190.837.12 $26.809,625.81 ,—™. {stop} **ee** End of Statement****** 027 07/31/04;08:41 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD July 1,2004 July 30, 2004 account uncer TAXPAYER NUMBER On File June 30, 2004 THROUGH LAST STATEMENT Vass EFTA00196782

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OFFICE SERVICING YOUR ACCOUNT BEAR STEARNS ACCOUNT EXECUTIVE ZICHERMAN, IRA TELEPHONE VISIT OUR WEBSITE www.bearstearns.com What’s In This Statement Financial Summary ,. : 3 Your Portfolio Holdings . . 4 Transaction Detail vies 5 Your M@SS49@5 Aiuusi 7 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD 77,886,364 NET DEBIT BALANCE -28,772,876 I Ss NET EQUITY LAST STATEMENT 44.591.914 CHANGE SINCE LAST STATEMENT 4,521,574 There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. Ploase mport any difference cr noe-roceigt of checks or stocks, indicated as delivered to you, © Client Senices at 800-624-1428; or write to Clam Services at Bear, Steams Securitios Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3659. Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 FINANCIAL TRUST COMPANY INC C/O AMERICAN YACHT HARBOR * 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS Vi 00802 Market Value of Your Portfolio $-28,772,876 cash Equant {$$ $-31,716,148 $77,886,364 HE Current market value py Last statements market value () Short market value ‘This summary is 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. 027 07/01/04;13:31 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Steans Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOO May 29, 2004 THROUGH June 30, 2004 accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT May 28, 2004 Important Message Confirmation: Unless we hear from you to the contrary, it is our understanding that any free credit balances in your account are being maintained to facilitate your intention to invest such amounts through us. vaa2 EFTA00196783

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2 of8 STATEMENT BACKER IS PRINTED ON THIS PAGE 07/01/04;13:31 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC vaa2 EFTA00196784

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR STEARNS 383 Madison Avenue Cash Flow Analysis THIS PERIOD OpeningBalance $-31,716,147.95 Securities Sold 2,746,122.34 Dividends/Interest 245,063.20 Amount Credited $2,991,185.54 Dividends/Interest Charged -47,913.52 Amount Debited Net Cash Activity $-47,913.52 2,943,272.02 Same day transfers of cash between account types are not included in this section, such transfers, as well as details for all other transactions tis period, appear in Transaction Detail Cash Balance Summary OPENING CLOSING Cash 0.00 1,658,956.03 Margin -31,716,147.95 -30,431,831.96 Net Cash Balance $-31,716,147.95 $-28,772,875.93 New York, New York 10179 Income Summary THiS PERIOD YEAR TO DATE Dividends 245,063.20 627,404.40 Substitute Payment 0.00 85,222.00 Credit Balance Int. 0.00 398.34 Total... sossnnnererente BoA OO saree LS Margin int. Paid -47,913.52 -224,058.26 Portfolio Composition SHORT LONG Cash/Cash Equivalent 28,772,876 Equities 77,886,364 Total $28,772,876 $77,886,364 027 07/01104;13:31 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC 3 of8 STATEMENT PERIOD May 29, 2004 THROUGH June 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File LAST STATEMENT May 28, 2004 Your Portfolio Allocation Short Cash & Equivalent 26% — Equities 74% Unshaded portions denote debt batance andicr short market values. The alocation percentage is derived from the absohte market value of your portloio, vaa2 EFTA00196785

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 4 of8 Your Portfolio Holdings CASH & CASH EQUIVALENTS MANRKET ESTIMATED CURRENT DESCRIPTION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME _YELD (') CASH BALANCE -28.772.876 TOTAL CASH & CASH EQUIVALENTS $-28,772,.876 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TwPE QUANTITY PRICE VALUE _ ANNUAL INCOME YIELD (%) BANK OF AMERICA CORP BAC MRGN 100,000 84.6200 8.462.000 360,000 4.2543 WALT DISNEY CO HOLDING CO bIS CASH 6,372,500 52,500 0.8239 WALT DISNEY CO HOLDING CO dis MAGN 210,000 FLEXTRONICS INTERNATIONAL FLEX CASH 100,000 15.9500 1,595,000 LTD IFIL(IST FIN ITAL) IFPSF CASH 100,000 3.6350 363,500 9,146 2.5161 EUR1 INVST CL MBNA CORP KRB MAGN 1,000,000 25.7900 25,790,000 480,000 1.8612 TYCO INTERNATIONAL LTD TY MRGN 100,000 33.1400 3,314,000 5,000 0.1509 VECTOR GROUP LTD VGR MRGN 412,658 15.7500 6,499,364 660,253 10.1587 Total Equities& Options $77,886,364 $1,776,899 TOTAL EQUITIES $77,.886.364 $1,776,899 027 07/01104;13:31 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT vaa2 May 29, 2004 June 30, 2004 On File May 28, 2004 EFTA00196786

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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 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD May 29, 2004 THROUGH June 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File LAST STATEMENT May 28, 2004 Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,776,899 YOUR PRICED PORTFOLIOHOLDINGS $49,113.488 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT GREDMT AMOUNT 06/15/04 RECEIVED TOO INC TOO 34,400 0901 UNSOLICITED AVG PRICE: DETAILS ON REQUEST UNSOLICITED "658,956.03 L IN WE ARE ACTING AS PRINCIPAL & MARKET MAKER: COMMISSION FIELD tS A COMMISSION EQUIVALENT - DETAILS ON REQUEST TOTAL $2,746,122.34 027 07/01/04;13:31 001 Vva32 EFTA00196787

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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 6 of8 Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD May 29, 2004 THROUGH account uncer Transaction Detail (continued) dune 30, 2004 TAXPAYER NUMBER On File DIVIDENDS DATE DESCRIPTION SYMBOUUSIF QUANTITY RATE (8) DEBIT AMOUNT CREDIT AMOUNT 06/25/04 BANK OF AMERICA CORP BAC 100,000 0.8000 80,000.00 REC 06/04/04 PAY 06/25/04 SETS aaa recreate Vege wre cerenneeneannenntnnrnnnsi TSE TESS REC 06/22/04 PAY 06/30/04 TOTAL $245,063.20 INTEREST DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE (%} EBT AMOUNT CREDIT AMOUNT 06/21/04 INT DB 47,913.52 05/21. BAL TOTAL $-47,913.52 MISCELLANEOUS TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT JOURNAL JOURNAL FROM TYPE 1T02 1,087, 166.31 $-1,087,166.31 $1.087.166.31 027 07/01/04;13:31 001 LAST STATEMENT May 28, 2004 vas2 EFTA00196788

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New = New York 10179 BEAR STEARNS 7 of8 Your messages ‘i Notice Regarding a Change in The Statement of Interest Charges Pursuant to the “Truth-in-Lending” Rule 10 (b)-16 Regarding Short Sales And Marking-To-The-Market Effective no earlier than thirty (30) days from your receipt of this statement, we will compute interest regarding your short sales and marking-to-the market as follows: The credit that appears on your statement due to short sales (including short sales against the box) is offset by a debit of like amount because Bear Steams Securities has to borrow the same security in order to deliver it to the buying broker and has to provide its lender additional collateral of up to 105% of the settled short market value of the borrowed securities to secure such loan, This means that the debit balance on which interest is computed will be the difference between (i) up to 105% of the settled short market value of such short sales (across all currencies), which shall be calculated daily, and (ii) the proceeds of such short sales, = CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD May 29, 2004 June 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File THROUGH LAST STATEMENT May 28, 2004 Any short positions in your account will be kept "marked-to-the market", This means that periodically the balance maintained in the short account will be adjusted to equal the market value of the short securities, Securities that are priced below five dollars per share may be valued at five dollars per share for short marking-to-the market purposes, If a security has been sold short (or sold short against the box) and has appreciated in market price over the selling price, interest will be charged on the amount of appreciation; if it depreciates in market price, interest will be correspondingly reduced by the drop in value, The appreciation or depreciation of securities sold short will be determined by Bear Stearns Securities based upon daily closing prices or quotations provided by pricing services, as applicable, or upon such factors as Bear Stearns Securities in its sole judgement deems pertinent. Please note that the other sections of the "Truth-in-Lending” disclosure previously provided to you remain unchanged. 027 07/01/04;13:31 001 Vva32 EFTA00196789

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BEAR STEARNS 8 8 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New = New York 10179 ie Pursuant to the terms of the equity research settlement that was entered into by Bear Stearns and other major investment banks, we will soon make available to our customers, independent third-party research ("Independent Research’), at no cost, on the common stock of certain companies covered by the Firm's Equity Research Department (‘Covered Company”), Customers will be able to access this research at www,bearstearns com or can call (800) 517-2327 to request that a copy of this research be sent to them, Further, Bear Stearns will notify certain of our customers, at the time of each solicited order to buy or sell the common stock of a Covered Company, of the availability of Independent Research, and will provide, on the confirmations and statements that are generated for these customers, the rating(s) on such Covered Company(s) by the Firm's Equity Research Department, as well as the corresponding rating(s) by the applicable Independent Research provider(s), where available, These notice provisions become effective in the near future and, to the extent applicable, will be included in your next monthly statement, Please note, Bear Stearns is not responsible or liable for (i) decisions relating to the procurement of Independent Research, (ii) Independent Research or its content, (iii) customer transactions, to the extent based on Independent Research, or (iv) claims arising from or in connection with access provided by the Firm and/or the inclusion of Independent Research ratings in trade confirmations, periodic account statements or www.bearsteams.com. Bear Stearns is not required to supervise the production of Independent Research and has no responsibility to comment on the content of such Research, ***e** End of Statement™***** CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD May 29, 2004 THROUGH June 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File LAST STATEMENT May 28, 2004 TZ Please be advised of the following changes regarding account service fees: Beginning September 1, 2004, accounts will be subject to a $20,00 processing fee for each outgoing wire transfer and for each check issued by Bear Stearns at the request of a customer, You may wish to speak to your Account Executive to inquire about the availability of check writing privileges for your brokerage account, Beginning January 1, 2005, accounts will be subject to an annual account charge of $75.00 applicable for households that maintain less than $100,000 in net equity in related accounts or that generated less than $500 in brokerage commissions and/or fees paid to Bear Stearns in those accounts in the prior calendar year, 027 07/01/04;13:31 001 vax2 EFTA00196790

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BEAR STEARNS ACCOUNT EXECUTIVE = ZICHERMAN, IRA TELEPHONE VISIT OUR WEBSITE wew.bearstearns.com What’s In This Statement OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD May 1, 2004 May 28, 2004 accoumt nuvecr TAXPAYER NUMBER On File April 30, 2004 THROUGH LAST STATEMENT Financial Summary ,. : 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings . . - C/O AMERICAN YACHT HARBOR * Transaction Detail .......csessseesssesesseeees 5 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio $-31,716,148 TOTAL VALUE OF SECURITIES THIS PERIOD © 76,308,062 °#8n & Equivalent — $-31,670,992 NET DEBIT BALANCE ~31,716,148 $76,308,062 peliensllridaesin.onlO Ndr adel HE Current market value NET EQUITY LAST STATEMENT 42,504,571 HEB] Last statements market value (C) Short market value CHANGE SINCE LAST STATEMENT 2,087,343 There are no "Stop Loss” orders or other pending buy or sell open orders on file for your account. Please report any difference or nomreceipt of checks or stocks, indicated as delivered to you, % Client Senices at 800-624-1428; or write to Clont Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3659. 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 06/2904;12:32 001 vast EFTA00196791

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2 of 5 STATEMENT BACKER IS PRINTED ON THIS PAGE (06/29104;12:32 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC EFTA00196792

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BEAR STEARNS 3 of OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 Cash Flow Analysis Openi: Dividends/Interest Amount Cr Dividends/Interest Charged Amount Debited Net Cash Activity THIS PERIOD Balance $-31,670,992.28 1,250.00 ited $1,250.00 -46.405.67 $-46,405.67 -45,155.67 Cash Balance Summary OPENING CLOSING Margin -31,670,992.28 -31,716,147.95 Net Cash Balance $-31,670,992.28 $-31,716,147.95 Income Summary THIS PERIOD YEAR TO DATE Dividends 1,250.00 382,341.20 Substitute Payment 0.00 85,222.00 Credit Balance Int. 0.00 398.34 a Margin Int. Paid -46.405.67 -176,144.74 Portfolio Composition SHORT LONG Cash/Cash Equivalent 31,716,148 Equities 76,308,062 Total $31,716,148 $76,308,062 027 (06/2904;12:32 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD May 1, 2004 THROUGH May 28, 2004 accoumt nuvecr TAXPAYER NUMBER On File LAST STATEMENT April 30, 2004 Your Portfolio Allocation Short Cash & Equivalent 29% Equities 71% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portiatio. vast EFTA00196793

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BEAR STEARNS 405 Your Portfolio Holdings CASH & CASH EQUIVALENTS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOUCUSIP QUANTITY PRICE VALUE ANNUAL INCOME _YELD (') CASH BALANCE -31.716.148 TOTAL CASH & CASH EQUIVALENTS $-31,716,148 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TwPE QUANTITY PRICE VALUE _ ANNUAL INCOME YIELD (%) BANK OF AMERICA CORP BAC MAGN 100,000 83.1300 8.313.000 320,000 3.8494 WALT DISNEY CO HOLDING CO bIS CASH 23.4700 5,867,500 52,500 0.8948 WALT DISNEY CO HOLDING CO bIS MRGN 210,000 0.8948 FLEXTRONICS INTERNATIONAL FLEX CASH 17.5600 1,756,000 LTD GALYANS TRADING INC GLYN CASH 150,000 10.0500 1,507,500 IFIL(IST FIN ITAL) IFPSF CASH 100,000 3.5380 353,800 9,161 2.5893 EUR1 INVST CL MBNA CORP KRB MRGN 1,000,000 25.4000 25,400,000 480,000 1.8898 TYCO INTERNATIONAL LTD Tyc MRGN 100,000 30.7900 3,079,000 5,000 0.1624 VECTOR GROUP LTD VGR MRGN 412,658 15.9000 6,561,262 660,253 10.0629 Total Equities& Options $76,308,062 $1,736,914 TOTAL EQUITIES $76,308,062 $1,736,914 oz? 08/29104;12:32 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD May 1, 2004 May 28, 2004 accoumt nuvecr TAXPAYER NUMBER On File April 30, 2004 THROUGH LAST STATEMENT vast EFTA00196794

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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 COMPANY INC STATEMENT PERIOD May 1, 2004 THROUGH May 28, 2004 account uncer TAXPAYER NUMBER On File Your Portfolio Holdings (continued) LAST STATEMENT April 30, 2004 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,736,914 YOUR PRICED PORTFOLIOHOLDINGS $44,591,914 Transaction Detail DIVIDENDS DATE DESCRIPTION SYMBOUUSIF QUANTITY RATE (8) DEBIT AMOUNT CREDIT AMOUNT 05/03/04 TYCO INTERNATIONAL LTD Tyc 100,000 0.0125 1,250.00 REC 04/01/04 PAY 05/03/04 TOTAL $1,250.00 INTEREST DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) EBT AMOUNT CREDIT AMOUNT 08/21/04 INT DB 46,405.67 04/210 BAL TOTAL $-46,405.67 027 (06/2904;12:22 001 vaa1 EFTA00196795

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York New York 10179 ft | FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE — ZICHERMAN, IRA STATEMENT PERIOD April 1, 2004 TeepHone = THROUGH April 30, 2004 VISIT OUR WEBSITE www.bearstearns.com ; . account xumccr = What's In This Statement Vaal daseloclslleaeselil TAXPAYER NUMBER On File LAST STATEMENT March 31,2004 Financial Summary . . 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings . . 4 C/O AMERICAN YACHT HARBOR * Transaction Detail vo... 5 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio $-31,670,992 TOTAL VALUE OF SECURITIES THIS PERIOD 74,175,563 °#8h & Equivalent —— $-31.742.917 NET DEBIT BALANCE -31,670,992 Enaien 74,175,563 $79,766,029 NET EQUITY THIS PERIOD $42,504,571 susessusensueenssssaenteennneanensoneeessssaesnanennseeen laveesaneeeee HE Current market value NET EQUITY LAST STATEMENT 48,023,112 SEG] Last statement's market value (C) Short market value CHANGE SINCE LAST STATEMENT -5,518,541 There are no "Stop Loss’ orders or other pending buy or sell open orders on file for your account. Ploase report any difference or nemroceipt of checks of stocks, indicated as delivered to you, ‘This summary is for informational purposes only. It Is not intended as a tax document, % Client Senices at 800-634-1428; cr write to Clont Services at Bear, Steams Securities ‘This statemem should be retained for your records. See reverse side for important information. Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-9869. ® Mevotesy fant Newson 027 05/01/04:13:17 001 v830 EFTA00196796

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2 of 6 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 05/01/04:13:17 O01 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC v830 EFTA00196797

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 3 of6 Cash Flow Analysis THIS PERIOD OpeningBalance $-31,742,917.44 Dividends/Interest 120,000.00 Amount Cr Dividends/Interest Charged -48,074.84 ited $120,000.00 Amount Debited $-48.074.84 Net Cash Activity 71,925.16 Cash Balance Summary OPENING CLOSING Margin -31,742,917.44 -31,670,992.28 Net Cash Balance $-31,742,917.44 $-31,670,992.28 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD April 1, 2004 THROUGH April 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File Income Summary THIS PERIOD YEAR TO DATE LAST STATEMENT March 31,2004 Dividends 120,000.00 381,091.20 Substitute Payment 0.00 85,222.00 Credit Balance Int. 0.00 398.34 Total $120.000.00 Margin Int. Paid -48,074.84 -129,739.07 Portfolio Composition SHORT LONG Cash/Cash Equivalent 31,670,992 Equities 74,175,563 Total $31,670,992 $74,175,563 Your Portfolio Allocation Short Cash & Equivalent 29% Equities 71% Unshaded portions denote debt balance andicr short market values, The allocation percentage is derived from the absohte market value of your portiatio. 027 05/01/04:13:17 O01 830 EFTA00196798

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BEAR STEARNS 4 of6 Your Portfolio Holdings CASH & CASH EQUIVALENTS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOUCUSIP QUANTITY PRICE VALUE ANNUAL INCOME _YELD (') CASH BALANCE -31,670.992 TOTAL CASH & CASH EQUIVALENTS $-31,670,992 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TwPE QUANTITY PRICE VALUE _ ANNUAL INCOME YIELD (%) BANK OF AMERICA CORP BAC MAGN 100,000 80.4900 8.049.000 320,000 3.9756 WALT DISNEY CO HOLDING CO bIS CASH 23.0300 5,757,500 52,500 0.9119 WALT DISNEY CO HOLDING CO bIS MRGN 210,000 0.9119 FLEXTRONICS INTERNATIONAL FLEX CASH 16.1000 1,610,000 LTD GALYANS TRADING INC GLYN CASH 150,000 9.4900 1,423,500 IFIL(IST FIN ITAL) IFPSF CASH 100,000 3.5520 355,200 8,869 2.4969 EUR1 INVST CL MBNA CORP KRB MRGN 1,000,000 24.3800 24,380,000 480,000 1.9688 TYCO INTERNATIONAL LTD Tyc MRGN 100,000 27.4500 2,745,000 5,000 0.1821 VECTOR GROUP LTD VGR MRGN 412,658 16.5400 6,825,363 660,253 9.6735 Total Equities& Options $74,175,563 $1,736,622 TOTAL EQUITIES $74,175,563 $1,736,622 027 05/01/04;13:17 O01 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD April 1, 2004 April 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File March 31,2004 THROUGH LAST STATEMENT 830 EFTA00196799

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 | Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,736,622 YOUR PRICED PORTFOLIOHOLDINGS $42,504,571 Transaction Detail CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD April 1, 2004 THROUGH April 30, 2004 account uncer TAXPAYER NUMBER On File LAST STATEMENT March 31,2004 INVESTMENT ACTIVITY SETTLEMENT — TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 04/20/04 JOURNAL WALT DISNEY CO HOLDING CO dIS 157,000 JRL FM PER LOA TOTAL —_—_—<—$——$————— eee DIVIDENDS DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE ($) DEBIT AMOUNT CREDIT AMOUNT 04/01/04 MBNA CORP KAB 1,000,000 0.1200 120,000.00 REC 03/15/04 PAY 04/01/04 TOTAL $120,000.00 027 05/01/04:13:17 O01 Vv830 EFTA00196800

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BEAR STEARNS 6 of 6 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 Transaction Detail (continued) INTEREST DATE DESCRIPTION 04/21/04 = INT DB SYMBOUCUSIP QUANTITY RATE (Se) DEBIT AMOUNT 48,074.84 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOO April 1, 2004 THROUGH April 30, 2004 account uncer TAXPAYER NUMBER On File LAST STATEMENT March 31,2004 CREDIT AMOUNT 03/21. Oas BAL TOTAL (stop) ****** End of Statement™***** 027 $-48.074.84 05/01/04:13:17 O01 Vv830 EFTA00196801

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BEAR STEARNS ACCOUNT EXECUTIVE —ZICHERMAN, IRA TELEPHONE VISIT OUR WEBSITE wew.bearstearns.com What’s In This Statement Financial Summary , Your Portfolio Holdings . Transaction Detail ......s.ssessesseresseessees Your M@SSag@S wssssusssesessacaeniens OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 NO fF Ww Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD 79,766,029 NET DEBIT BALANCE -31,742,917 NET EQUITY THIS PERIOD $48,023,112 NET EQUITY LAST STATEMENT 49,442,495 CHANGE SINCE LAST STATEMENT -1,419,384 There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. Please report any difference or nomreceipt of checks or stocks, indicated as deltverad to you, % Client Senices at 800-634-1428; or write to Clont Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3659. FINANCIAL TRUST COMPANY INC C/O AMERICAN YACHT HARBOR * 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio HE Current market value oy Last statements market value ([) Short market value This summary s 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 COMPANY INC STATEMENT PERIOD February 28,2004 THROUGH March 31,2004 accouvt nuvecr TAXPAYER NUMBER On File LAST STATEMENT February 27,2004 ‘Ths statemem should be retamed for your records See reverse side for important imformation. 027 04/01/04;12:85 001 waza EFTA00196802

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2 of8 STATEMENT BACKER IS PRINTED ON THIS PAGE 04/01/04;12:85 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC vaza EFTA00196803

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 3 of8 Cash Flow Analysis Cash Balance Summary THIS PERIOD OPENING OpeningBalance $-31,865,410.90 Cash 261,556.06 Funds Deposited 2,809,355.19 Margin -32.126,966.96 Dividends/Interest 159,841.20 Amount Credited Funds Withdrawn Income Summary CLOSING 0.00 -31,742.917.44 Net Cash Balance $-31,865,410.90 $-31,742,917.44 Dividends/Interest Charged -44.424.93 THIS PERIOD YEAR TO DATE sueeeeneeanensssssanennennennsnnenneneessssatnneanenneneeneeneen ss sees Dividends 159.841.20 261,091.20 Amount Debit esenenenmeneenerns ee Ooh 9S Substitute Payment 85,222.00 85,222.00 Net Cash Activity 122,493.46 Credit Balance Int. 0.00 398.34 Total . $245,063.20 $346,711.54 Same day transfers of cath between account types are mot included in this Margin Int. Paid -44.424.93 -81,664.23 section; such transfers, as well as details for all other transactions tis period, appear in Transaction Detail. Portfolio Composition SHOAT Cash/Cash Equivalent 31,742,917 Equities CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD February 28,2004 THROUGH March 31,2004 accoumt nuvecr TAXPAYER NUMBER On File LAST STATEMENT February 27,2004 Your Portfolio Allocation . Short Cash & Equivalent — 28% 79,766,029 027 04/01/04;12:85 001 — Equities 72% Unehaded portions denote debt balance andior short market values. The alocation percentage is derived from the absohte market value of your portloio, vaza EFTA00196804

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 4 of8 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED CURRENT DESCRIPTION ‘SYMBOU'CUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD ('%) CASH BALANCE -31.742.917 TOTAL CASH & CASH EQUIVALENTS $-31,742,917 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOU'CUSIP TYPE PRICE VALUE ANNUAL INCOME YIELD (%) BANK OF AMERICA CORP BAC MRGN 80.9800 8.098.000 320,000 3.9516 WALT DISNEY CO HOLDING CO bIS CASH 24.9900 2,324,070 19,530 0.8403 WALT DISNEY CO HOLDING CO bIS MRGN 24.9900 24,990,000 210,000 0.8403 FLEXTRONICS INTERNATIONAL FLEX CASH , 17.2200 1,722,000 uD GALYANS TRADING INC GLYN CASH 150,000 10.0600 1,509,000 IFIL(IST FIN ITAL) IFPSF CASH 100,000 3.4610 346,100 9,352 2.7021 EUR1 INVST CL MBNA CORP KRB MRGN 1,000,000 27.6300 27,630,000 480,000 1.7372 TYCO INTERNATIONAL LTD Tyc MRGN 100,000 28.6500 2.865.000 5,000 0.1745 VECTOR GROUP LTD VGR MRGN 412,658 17.0000 7,015,186 660,253 9.4118 SENTIGEN HOLDING CP RSTD 9380646 CASH 333,334 9.8000 3.266.673 Total Equities& Options $79,766,029 $1,704.135 TOTAL EQUITIES $79,766,029 $1,704.135 027 04/01104;12:85 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT vaz3 February 28, 2004 March 31,2004 On File February 27,2004 EFTA00196805

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,704,135 YOUR PRICED PORTFOLIOHOLDINGS $48,023.112 Transaction Detail DEPOSITS AND WITHDRAWALS DATE TRANSACTION DESCRETION DEBIT AMOUNT (CREDIT AMOUNT 03/02/04 FUNDS REC FNDS WIRED TO CITIBANK FROM 2,809,355.19 GOLDMAN SACHS . CO LCT406213 10800 03/08/04 END WIRED MOA#MB731597FNDS WIRED TO “2 887,500.00 , JPMORGAN CHASE BANK AC040181513 FD#04928 TOTAL $-2,887,500.00 $2,809.355.19 DIVIDENDS DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE (8) CEBIT AMOUNT 03/26/04 BANK OF AMERICA CORP BAC 100,000 0.8000 REC 03/05/04 PAY 03/26/04 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD February 28,2004 THROUGH March 31,2004 accoumt nuvecr TAXPAYER NUMBER On File LAST STATEMENT February 27,2004 CAEDIT AMOUNT 80,000.00 027 04/01/04;12:85 001 vaz3 EFTA00196806

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 Transaction Detail (continued) DIVIDENDS (continued) CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-2859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD February 28.2004 THROUGH March 31,2004 account uncer TAXPAYER NUMBER On File LAST STATEMENT February 27,2004 DATE CESCRIPTION SYMBOUCUSIP QUANTITY RATE (8) CEBIT AMOUNT CREDIT AMOUNT 03/29/04 VECTOR GROUP LTD VGR 199,603 0.4000 79,841.20 REC 03/19/04 PAY 03/29/04 TOTAL $159,841.20 SUBSTITUTEPAYMENTS DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE (8) OEBIT AMOUNT CREDIT AMOUNT 03/29/04 VECTOR GROUP LTD VGR 213,055 0.4000 85,222.00 SUBST PAY ON 213055 SHS REC 03/19/04 PAY 03/29/04 TOTAL $85,222.00 INTEREST DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE [%) CEBIT AMOUNT CREDIT AMOUNT 03/22/04 INT OB SD 44,424.93 2 iii ‘ . BAL TOTAL $-44,424.93 MISCELLANEOUS TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT JOURNAL JOURNAL FROM TYPE 1102 3,070,911.25 027 04/01/04;12:85 001 vaz3 EFTA00196807

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 7 of8 Transaction Detail (continued) MISCELLANEOUS (continued) DATE MO'DAY TRANSACTION DESCRIPTION 03/18/04 JOURNAL JOURNAL FROM TYPE 1102 TOTAL Your messages LTS Excess SIPC Account Protection Update Effective February 16, 2004, the commercial insurer through which Bear, CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD February 28,2004 THROUGH March 31,2004 accoumt nuvecr TAXPAYER NUMBER On File LAST STATEMENT February 27,2004 DEBIT AMOUNT CREDIT AMOUNT 3,070,911.25 $-3,070,911.25 $3,070,911.25 ZT Bear, Stearns Securities Corp, Net Capital and Net Capital Requirements: Steams Securities Corp, obtains excess SIPC protection changed to Customer At November 30, 2003 and January 31, 2004, the Company's net capital of Asset Protection Company ("CAPCO"), a New York licensed insurance company. CAPCO has an A+ financial strength rating from Standard and Poor's, approximately $3.3 billion and $3,2 billion was approximately 7% and 7% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately $930.3 million and $967.8 million by approximately $2.4 billion and $2,2 billion, all respectively, A complete copy of the Bear, Stearns Securities Corp, Statement of Financial Condition is available on the web site www,bearstearns,com, Alternatively, to request a free printed copy please call - toll free 1-866-299-9331, 027 04/01/04;12:85 001 vaza EFTA00196808

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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 Brooklyn, New York 11201-3859 STEARNS New York New York 10179 as FINANCIAL TRUST COMPANY INC 8 of8 STATEMENT PERIOD February 28,2004 THROUGH March 31,2004 accouvt nuvecr TAXPAYER NUMBER On File LAST STATEMENT February 27,2004 ice The Firm believes it is of the utmost importance that clients who purchase or hold mutual funds fully understand the intricacies of the pricing structures and rules which govern these investments, Recently, a joint Industry/NASD Task Force collaborated to create a Disclosure Statement to address these issues, We are providing this Disclosure Statement to you for the purpose of reinforcing these concepts and to initiate the opportunity for further discussion of these issues to the extent you have questions, You are encouraged to contact your financial professional with any questions you have regarding your investments, Additionally, you may review this information online at the following NASD web site: http://www. nasdr.com/breakpoints_statement.asp * End of Statement** 027 04/01/04;12:85 001 vaza EFTA00196809

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OFFICE SERVICING YOUR ACCOUNT BEAR STEARNS ACCOUNT EXECUTIVE ZICHERMAN, IRA TELEPHONE VISIT OUR WEBSITE www.bearstearns.com What’s In This Statement Financial Summary .. . 3 Your Portfolio Holdings . . 4 Transaction Detail v0. 5 Your M@SS49€5 Aun 6 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD 81,307,906 NET DEBIT BALANCE -31,865,411 OS UI SE NET EQUITY LAST STATEMENT 49,700,178 CHANGE SINCE LAST STATEMENT -257,682 There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. Please report any difference or nomreceipt of checks or stocks, indicated as delivered to you, % Client Senices at 800-634-1428; or write to Clont Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3659. Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 FINANCIAL TRUST COMPANY INC C/O AMERICAN YACHT HARBOR * 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS Vi 00802 Market Value of Your Portfolio $-31,865,411 Cash & Equivalent — ES $-7.479,796 $81,307,906 Equities $57,179,974 HE Current market value py Last statements market value (C) Short market value This summary is for informational purposes only. It is not intended as a tax document ‘Ths statemem should be retamed for your records See reverse side for important imformation. oz? 02/2804;11:57 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD January 31,2004 February 27,2004 accout nuvecr TAXPAYER NUMBER On File January 30, 2004 THROUGH LAST STATEMENT vaza EFTA00196810

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2 of 6 STATEMENT BACKER IS PRINTED ON THIS PAGE 02/2804;11:87 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC vaza EFTA00196811

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 3 of 6 Cash Flow Analysis Income Summary Tis PERIOD Tos PERIOD YEAR TO DATE OpeningBalance $-7,479,796.44 Dividends 1,250.00 101,250.00 Credit Balance Int. 0.00 398.34 Dividends/Interest 1,250.00 04 seenseasecenseenseasensee + suessuensacensessnentscs on Miscellaneous 260,306.00 Tota avaeneeets emer fences seneccrceeseses: sseccrecesecennss 1 eonecenecssecesesecense+ s sneaeeeese Margin Int. Paid -32,865.46 -37,239.30 Amount Credited $261,556.00 Securities Bought -24,614,305.00 Dividends/Interest Charged -32,865.46 Portfolio Composition Amount Debited case siesisrenremeemeen i eee ena ne seen ‘Ons Net Cash Activity -24,385,614.46 Cash/Cash Equivalent 31,865,411 Equities 81,307,906 Total $31,865,411 $81,307,906 Cash Balance Summary OPENING CLOSING Cash 0.06 261,556.06 Margin -7,479,796.50 -32,126,966.96 Net Cash Balance $-7,479,796.44 $-31,865,410.90 027 (02/2804;11:57 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD January 31,2004 THROUGH February 27,2004 accoumt nuvecr TAXPAYER NUMBER On File LAST STATEMENT January 30, 2004 Your Portfolio Allocation Short Cash & Equivalent — — Equities 72% Unshaded portions denote debt batance andicr short market values. The alocation percentage is derived from the absohte market value of your portloio, vaza EFTA00196812

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 4 of6 Your Portfolio Holdings CASH & CASH EQUIVALENTS MANRKET ESTIMATED CURRENT DESCRIPTION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME _YELD (') CASH BALANCE -31,865.411 TOTAL CASH & CASH EQUIVALENTS $-31,865,411 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TwPE PRICE VALUE __ ANNUAL INCOME YIELD (%) BANK OF AMERICA CORP BAC MRGN 81.9200 8.192.000 320,000 3.9063 WALT DISNEY CO HOLDING CO bIS CASH 26.5300 2,467,290 19,530 0.7916 WALT DISNEY CO HOLDING CO bIS MRGN 26.5300 26,530,000 210,000 0.7916 FLEXTRONICS INTERNATIONAL FLEX CASH A 18.1000 1,810,000 LTD GALYANS TRADING INC GLYN CASH 150,000 8.5900 1,288,500 IFIL(IST FIN ITAL) 144352291 CASH 100,000 3.3430 334,300 EUR1 INVST CL MBNA CORP KRB MRGN 1,000,000 27.3300 27,330,000 480,000 1.7563 TYCO INTERNATIONAL LTD Tyc MRGN 100,000 28.5700 2,857,000 5,000 0.1750 VECTOR GROUP LTD VGR MRGN 412,658 18.0500 7A48,477 660,253 8.8643 SENTIGEN HOLDING CP RSTD 9380646 CASH 333,334 9.1510 3,050,339 Total Equities& Options $81,307,906 $1,694,783 TOTAL EQUITIES $81,307,906 $1,694,783 027 02/28104;11:87 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT vaza January 31, 2004 February 27,2004 On File January 30, 2004 EFTA00196813

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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 COMPANY INC 5 of 6 STATEMENT PERIOD January 31,2004 THROUGH February 27,2004 account uncer TAXPAYER NUMBER On File LAST STATEMENT January 30, 2004 Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,694,783 YOUR PRICED PORTFOLIOHOLDINGS $49,442,495 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 02/03/04 01/29/04 BOUGHT WALT DISNEY CO HOLDING CO dIS 1,000,000 24.55430 24,614,305.00 WITH RIGHTS TO PURCHASE COMMON STK UNDER CERTAIN CIRCUMSTANCE AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED 02/18/04 JOURNAL ‘ial CO HOLDING CO DIS -157,000 TOTAL $-24,614.305.00 DIVIDENDS DATE CESCRIPTION SYMBOUCUSIP QUANTITY RATE ($) CEBIT AMOUNT (CREDIT AMOUNT 02/02/04 TYCO INTERNATIONAL LTD Tyc 100,000 0.0125 1,250.00 REC 01/02/04 PAY 02/02/04 TOTAL $1,250.00 027 02/2804;11:87 001 vaza EFTA00196814

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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 Le FINANCIAL TRUST COMPANY INC 6 of 6 STATEMENT PERIOO January 31,2004 THROUGH February 27,2004 Transaction Detail (continued) ACCOUNT NUMBER fs TAXPAYER NUMBER On File INTEREST LAST STATEMENT —_ January 30, 2004 DATE CESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) CEBIT AMOUNT CREDIT AMOUNT 02/23/04 INT OB 32,865.46 01/21 , BAL TOTAL $-32,865.46 MISCELLANEOUS DATE MODAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 02/18/04 JOURNAL NY¥282592/18 260,306.00 TOTAL $260,306.00 Your messages 1 Excess SIPC Account Protection Update Effective February 16, 2004, the commercial insurer through which Bear, Steams Securities Corp, obtains excess SIPC protection changed to Customer Asset Protection Company ("CAPCO"), a New York licensed insurance company, CAPCO has an A+ financial strength rating from Standard & Poor's, f-™ (sto ) ****** End of Statement*™***** 027 02/2804;11:87 001 vaza EFTA00196815

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BEAR STEARNS ACCOUNT EXECUTIVE —ZICHERMAN, IRA TELEPHONE VISIT OUR WEBSITE OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 www.bearstearns.com What’s In This Statement Financial Summary , Your Portfolio Holdings . Transaction Detail ......s.ssesseseresseeerees Trades Not Yet Settled Your Messages oouwr Ww Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD NET DEBIT BALANCE NET EQUITY THIS PERIOD NET EQUITY LAST STATEMENT CHANGE SINCE LAST STATEMENT 57,179,974 -7,479,796 $49,700,178 40,080,099 9,620,079 There are no "Stop Loss” orders or other pending buy or sell open orders on file for your account. Please report any difference or nomreceipt of checks or stocks, indicated as delivered to you, % Client Senices at 800-634-1428; or write to Clont Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3859. Cash & Equivalent Fag $57,179,974 Equiles $39,407,916 FINANCIAL TRUST COMPANY INC C/O AMERICAN YACHT HARBOR * 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS Vi 00802 Market Value of Your Portfolio $-7,479,796 HE Current market value pa Last statements market value ([) Short 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 COMPANY INC STATEMENT PERIOO January 1, 2004 THROUGH accout nuvecr TAXPAYER NUMBER On File LAST STATEMENT ‘Ths statemem should be retamed for your records See reverse side for important imformation. 027 01/3110409:43 001 va2s January 30, 2004 December 31, 2003 EFTA00196816

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2 of8 STATEMENT BACKER IS PRINTED ON THIS PAGE 01/31/04,09:43 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC EFTA00196817

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 BEAR STEARNS 3 of8 Cash Flow Analysis THIS PERIOD OpeningBalance $672,183.06 Funds Deposited 6,000,556.00 Dividends/Interest 102,254.30 Amount Credited $6,102,810.30 Securities Bought Dividends/Interest Charged -14,248,560.00 -6,229.80 Amount Debited $.14,254.789.80 Net Cash Activity 151,979.50 Same day tansiers of cash between account types are not included in this section; such transfers, as well as details for all other transactions this period, appear in Transaction Detat Cash Balance Summary OPENING CLOSING Cash 672,183.06 0.06 Margin 0.00 -7,473,796.50 Net Cash Balance $672,183.06 $-7.479,796.44 Income Summary THS PERIOD YEAR TO DATE Dividends 100,000.00 100,000.00 Credit Balance Int. 398.34 Total $100,398.34 Margin Int. Paid 4,373.84 -4,373.84 Portfolio Composition SHORT LONG Cash/Cash Equivalent 7,479,796 Equities 57,179,974 027 01/31/04;09:43 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOO January 1, 2004 THROUGH January 30, 2004 accoumt nuvecr TAXPAYER NUMBER On File LAST STATEMENT December 31,2003 Your Portfolio Allocation Short Cash & Equivalent — 11% “ — Equities 89% Unshaded portions denote debt batance andicr short market values. The alocation percentage is derived from the absohte market value of your portloio, va2s EFTA00196818

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OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. BEAR 383 Madison Avenue STEARNS New York, New York 10179 a 4 of8 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (%} CASH BALANCE -7.479.796 TOTAL CASH & CASH EQUIVALENTS $-7,479,796 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOU'CUSIP TYPE QUANTITY PRICE VALUE ANNUAL INCOME YIELD (%) BANK OF AMERICA CORP BAC MRGN 100,000 81.4600 8.146.000 320,000 3.9283 WALT DISNEY CO HOLDING CO bIS CASH 250,000 24.0000 6,000,000 52,500 0.8750 FLEXTRONICS INTERNATIONAL FLEX CASH 100,000 19.0000 1,900,000 LTD GALYANS TRADING ING GLYN CASH 150,000 8.8090 1,321,350 IFIL{IST FIN ITAL) 144352291 CASH 100,000 3.0450 304,500 EUA1 INVST CL MBNA CORP KRB MAGN 1,000,000 26.9600 26,960,000 480,000 1.7804 TYCO INTERNATIONAL LTD TY MRGN 100,000 26.7500 2,675,000 5,000 0.1869 VECTOR GROUP LTD VGR MRGN 412,658 17.1000 7,056,452 660,253 9.3567 SENTIGEN HOLDING CP RSTD 9380646 CASH 333,334 8.4500 2,816,672 Total Equities& Options $57,179,974 $1,517,753 TOTAL EQUITIES $57,179,974 $1,517,753 01/31/04;09:43 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT va2s January 1, 2004 January 30, 2004 On File December 31, 2003 EFTA00196819

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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 _—€€ 10179 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD January 1, 2004 THROUGH January 30, 2004 account uncer TAXPAYER NUMBER On File LAST STATEMENT December 31, 2003 Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,517,753 YOUR PRICED PORTFOLIOHOLDINGS $49,700,178 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 01/05/04 12/29/03 BOUGHT IFIL{IST FIN ITAL) 144352291 100,000 3.23000 323,000.00 EUR1 INVST CL 01/07/04 JOURNAL TYCO INTERNATIONAL LTD TYC -100,000 JOURNAL FROM TYPE 1 TO 2 01/07/04 JOURNAL VECTOR GROUP LTD VGR JOURNAL FROM TYPE 1 TO 2 01/07/04 JOURNAL TYCO INTERNATIONAL LTD TYC 100,000 JOURNAL FROM TYPE 1 TO 2 JOURNAL FROM TYPE 1 TO 2 027 01/31/04,09:43 001 vaos EFTA00196820

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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 Le FINANCIAL TRUST COMPANY INC 6 of8 STATEMENT PERIOO January 1, 2004 THROUGH January 30, 2004 Transaction Detail (continued) account xumccr = TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) tasT STATEMENT — December 31, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 01/08/04 01/05/04 BOUGHT WALT DISNEY CO HOLDING CO o's 250,000 23.99000 6,012,505.00 WITH RIGHTS TO PURCHASE COMMON STK UNDER CERTAIN CIRCUMSTANCE AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED AS OF 01/05/04 BOUGHT BANK OF AMERICA CORP BAC 100,000 79.07050 7,913,055.00 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT SOLICITED caeeeenysennnnccnccnn ys eeneennncnnn is terneetnnneyiaenenncnnnn i seennnnnnnnnneiemnegannenee ii ee eernnnnnnnn i nnnnnnnnnnniannnnnnninnn iennmnnnnnne JOURNAL FROM TYPE 1 TO 2 JOURNAL FROM TYPE 1 TO 2 TOTAL $-14,248,560.00 DEPOSITS AND WITHDRAWALS DATE TRANSACTION DESCRETION DEBIT AMOUNT CREDIT AMOUNT 01/05/04 FUNDS REC FNDS WIRED TO CITIBANK FROM 6,000,000.00 ie co TOTAL $6,000,556.00 o27 01/31/04;08:43 001 vaos EFTA00196821

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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 COMPANY INC 7 of6 STATEMENT PERIOD January 1, 2004 THROUGH Transaction Detail (continued) ACCOUNT NUMBER January 30, 2004 TAXPAYER NUMBER On File DIVIDENDS LAST STATEMENT DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE ($) CEBIT AMOUNT CREDIT AMOUNT 01/02/04 MBNA CORP KAB 1,000,000 0.1000 100,000.00 REC 12/15/03 PAY 01/01/04 TOTAL $100,000.00 INTEREST DATE CESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) CERT AMOUNT CAEDIT AMOUNT 01/21/04 iNT OB 6,229.80 12/31 - 01/20 @02,50000% BAL 7475820 AVG 4271898 DIT BALANCE 398.34 2/21 - 01/20 remnants vn $-6,229.80 $2,254.30 MISCELLANEOUS TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 01/07/04 = JOURNAL JOURNAL FROM TYPE 110 2 437,234.00 symone immanent ree nes TOTAL $-437,234.00 $437,234.00 o27 01/31/04;08:43 001 vaos December 31, 2003 EFTA00196822

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear, Stearns Securities Corp. Bear, Stearns & Co. Inc. ne Metratech Center North BEAR 383 Madison Avenue Brooklyn, New York 11201-3859 STEARNS New York New York 10179 as | FINANCIAL TRUST COMPANY INC 8 of8 STATEMENT PERIOO January 1, 2004 THROUGH January 30, 2004 . account xumccr = Trades Executed Pending Settlement TAXPAYER NUMBER On File LAST STATEMENT December 31,2003 SETTLEMENT — TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 02/03/04 01/29/04 iH IALT DISNI [ [i 1,000,000.00 24.5543 24,614,305.00 WITH RIGHTS TO PURCHASE COMMON STK UNDER CERTAIN CIRCUMSTANCE AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED TOTAL $24,614.305.00 $0.00 The above trades do not appear in any other section of this statement Your messages ‘i Excess SIPC Account Protection Update i The interest, if any, charged to your account during December 2003 was Effective February 16, 2004, the commercial insurer through which Bear, computed on the net debit balance through December 30. The interest, if any, Steams Securities Corp, obtains excess SIPC protection will change to charged to your account during January 2004 is computed from December 31, Customer Asset Protection Company (‘CAPCO"), a New York licensed insurance 2003, company, CAPCO has an A+ financial strength rating from Standard and Poor's, STOP **e*** End of Statement™***** 027 01/31/04;09:43 001 va2s EFTA00196823