Statements EFTA00197769

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS ACCOUNT EXECUTIVE GREENBERG,ALAN C. TELEPHONE VISIT OUR WEBSITE What’s In This Statement www.bearstearns.com Financial Summary 3 INSTITUTIONAL INTERESTS A/C #2 Transaction Detail 3 C/O FINANCIAL TRUST COMPANY Fund Activity ...sssssessssssssnssseneeeiee 5 ATTN LARRY KEMP . Your M@SS@QeS Annus 8 6100 RED HOOK QUARTER SUITE B-3 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio $0 NET EQUITY THIS PERIOD Oo NET EQUITY LAST STATEMENT 21,616,835 $21,506,720 CHANGE SINCE LAST STATEMENT -21,616,835 GB Last statements market value There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. Ploase moport any diference or nceroceipt of checks of stocks, indicated as doltvered to you, % Client Senices at 800-604-1428; cr write to Clont Services at Bear, Steams Securities Comp. Broohlyn, NY. 11201-3859, 027 01/01/04;12:84 001 This summary Is for informational purposes only. It Is not intended as a tax document This statement should be retamed for your records. See reverse side for important information CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 0 xn) vities Coy INSTITUTIONAL INTERESTS AIC #2 STATEMENT PERIOD November 29,2003 December 31, 2003 account numccr TAXPAYER NUMBER On File THROUGH LAST STATEMENT November 28, 2003 Important Message If any information regarding 2003interest, 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 February 2,20040r a 1042S by March 15,2004. vara EFTA00197770

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2 of 8 STATEMENT BACKER IS PRINTED ON THIS PAGE O1/01104;12:84 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Boar, Steams Secuities Coy INSTITUTIONAL INTERESTS A/C #2 vata EFTA00197771

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS 3 of8 Cash Flow Analysis THIS PERIOD $9.694.17 OpeningBalance Securities Sold 21,372,449.58 Money Fund 21,486,999.99 Dividends/ Interest 28,853.18 Amount Credited Money Fund $42,888,302.75 -21,382,225.14 Dividends/Interest Charged -1.53 Miscellaneous -21,515,770.25 Amount Debited $42,897,996 92 Net Cash Activity 694.17 Transaction Detail Cash Balance Summary OPENING Cash 9,694.17 Net Cash Balance $9,694.17 Income Summary THIS PERIOD Dividends 33,204.12 Credit Balance Int. 1.65 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Stags Securities ol INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD Novernber 29, 2003 THROUGH December 31,2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT November 28, 2003 YEAR TO DATE 316,229.46 6,267.07 INVESTMENT ACTIVITY SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBT AMOUNT GREDIT AMOUNT 12/01/03 11/25/03 SOLD AMERICAN INTERNATIONAL GROUP AIG -25,000 57.45000 1,428,087.56 INC UNSOLICITED AS OF 11/25/03 027 01/01/04;12:84 001 vars EFTA00197772

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. xn) o STEARN S INSTITUTIONAL INTERESTS A/C #2 4 of8 , STATEMENT PERIOO November 29, 2003 THROUGH December 31,2003 Transaction Detail (continued) acco xumccr TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT = November 28, 2003 SETTLEMENT = TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLCUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 12/01/03 11/25/03 SOLD BANK OF AMER CORP BAC -40,000 74.82540 2,976,864.73 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 12/01/03 11/25/03 SOLD FREDDIE MAC-VOTING COMMON FRE -30,000 54.74270 1,632,899.05 FORMERLY FEDERAL HOME LOAN RTGAGE CORP AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED (FEDERAL NATL MTG ASSN) UNSOLICITED {2101/03 4 {2i07/03 1 12/01/03 11/25/03 SOLD INTERNATIONAL BUSINESS IBM -20,000 89.53200 1,781,111.76 MACHINES CORP AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED JOHNSON JOHNSON JNJ -60,000 50.86400 3,034,341.12 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED MBNA CORP KRB -100,000 24.19960 2,403,223.60 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED PFIZER INC PFE -75,000 33.40130 2,489,313.66 WITH RIGHTS TO PURCHASE PREFRD STK UNDER CERTAIN CIRCUMSTANCE AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED {201/034 {2i01i03 1 {2i01i03 1 027 01/01/04;12:84 001 vars EFTA00197773

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. STEARNS 5 of6 0 xn) vities Coy INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD November 29,2003 THROUGH December 31,2003 Transaction Detail (continued) acco xumccr TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT — Novernber 28, 2003 SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 12/01/03 11/25/03 SOLD PROCTER & GAMBLE CO PG -25,000 96.92600 2,410,434.82 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED SEE NOTE "S* ON BACK 12/01/03 11/25/03 SOLD TIME WARNER INC TWX -100,000 16.08000 1,595,009.31 NEW UNSOLICITED TOTAL $21.372.449.58 MONEY FUND ACTIVITY MOrDAY TRANSACTION DESCAIPTION SYMBOUCUSIP Quanmiry PRICE DEBIT AMOUNT CAEDIT AMOUNT 11/29/03 OPENINGBALANCE 100,420.73 BOUGHT BEAR STEARNS PRIME MONEY BSMXXx 377382.143.75 70000 21,382,143.75 MARKET PORTFOLIO CL ¥ DIVIDEND BEAR STEARNS PRIME MONEY BSMXX MARKET PORTFOLIO CL Y RECORD 11/28/03 PAY 11/28/03 MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00 MARKET PORTFOLIO CL Y MARKET PORTFOLIO CL Y 027 01/01/04;12:84 001 vars EFTA00197774

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS 6 of8 Transaction Detail (continued) MONEY FUND ACTIVITY (continued) CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Stags Securities ol INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD Novernber 29, 2003 THROUGH December 31,2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT November 28, 2003 DATE MODAY TRANSACTION DESCAIPTION SYMBOUCUSIP QUANTITY PRICE OEBIT AMOUNT (CREDIT AMOUNT 12/31/03 CLOSINGBALANCE 0.00 TOTAL $-21,382,225.14 $21,486,999.99 DIVIDENDS DATE CESCRIPTION SYMBOUCUSIP QUANTITY RATE ($) CEBIT AMOUNT CAEDIT AMOUNT 12/04/03 PFIZER INC PFE 75,000 0.1500 11,250.00 REC 11/14/03 PAY 12/04/03 CHG VS A’O & CXL TRADES JOHNSON JOHNSON REC 11/18/03 PAY 12/09/03 INTERNATIONAL BUSINESS MACHINES CORP REC 11/10/03 PAY 12/10/03 60,000 0.2400 20,000 0.1600 TOTAL $28,850.00 INTEREST DATE DESCRIPTION SYMBOUUSIF QUANTITY RATE (%) CEBIT AMOUNT CREDIT AMOUNT 12/12/03 INTEREST ONCREDIT BALANCE CR INT CALCULATED 11/21-12/1103 1.53 ADJ 12/22/03 CRINT VS 12/ ENTRY 027 01/01/04;12:84 001 vara EFTA00197775

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CLEARED THROUGH ITS WHOLLY OWNED OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Steams & Co. Inc. STEARNS Ste SUBSIDIARY INSTITUTIONAL INTERESTS A/C #2 7 of 8 STATEMENT PERIOD November 29, 2003 THROUGH Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER INTEREST (continued) LAST STATEMENT DATE DESCRIPTION SYMBOUOUSIF QUANTITY RATE [%) DEBIT AMOUNT CAEDIT AMOUNT 12/22/03 INTEREST ONCREDIT BALANCE 1.65 ACCT 049-51880 AT 00,50000% 11/21 - 12/20 TOTAL $-1.53 $3.18 MISCELLANEOUS DATE MOVDAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 12/09/03 JOURNAL To 21,512,570.05 03 JOURNAL ADJUST BALANCE TOTAL $-21,515,770.25 027 O1/01104;12:84 001 vata December 31,2003 November 28, 2003 EFTA00197776

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. 0 xn) i o STEARN S | INSTITUTIONAL INTERESTS A/C #2 8 of6 , STATEMENT PERIOO November 29, 2003 THROUGH December 31,2003 accout Nuecr TAXPAYER NUMBER On File Your messages LAST STATEMENT November 28, 2003 LZ As part of the National Association of Securities Dealer's (NASD) Investor eS Excess SIPC Account Protection Update Education Program, you may obtain information on the NASD's Public Bear, Stearns Securities Corp, ("BSSC"), a member of the Securities Investor Disclosure Program by contacting the NASD at telephone number (800) Protection Corporation ("SIPC"), provides account protection for the net equity 289-9999 or via the internet address which is www,nasdr,com, In addition, a of a customer's funds and securities positions, SIPC provides $500,000 of brochure explaining the Public Disclosure Program is available from the NASD primary net equity protection, including $100,000 for claims for cash ("SIPC upon request, Coverage"). Visit www.sipc.org for more information about SIPC Coverage. BSSC provides the additional protection ("Excess SIPC") through a commercial insurer, Effective February 16, 2004, the commercial insurer for Excess SIPC will change to Customer Asset Protection Company ("CAPCO"), a licensed New York insurance company, Account protection applies when a SIPC member firm fails financially and is unable to meet its obligations to its securities customers, but does not apply to losses from the rise or fall in the market value of investments or to SIPC ineligible assets such as options, futures, foreign exchange transactions, or any investment contracts that are not registered as securities, (stor ****** End of Statement*™***** 027 01/01/04;12:84 001 vars EFTA00197777

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. STEARNS ACCOUNT EXECUTIVE GAREENBERG,ALAN C. TELEPHONE VISIT OUR WEBSITE www.bearstearns.com What’s In This Statement Financial Summary , Your Portfolio Holdings . . Transaction Detail ......s.sesseseresseeerees Fund Activity sss : Trades Not Yet Settled .. NOs Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD §=©21,506,720 NET CREDIT BALANCE 9,694 MONEY MARKET FUND BALANCE 100,421 NET EQUITY THIS PERIOD $21,616,835 NET EQUITY LAST STATEMENT 21,613,766 CHANGE SINCE LAST STATEMENT 3,070 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. Ploase mport any difference cr nom-roceigt of checks or stocks, indicated as dalivered to you, %© Client Senices at 800-634-1428; or write to Clem Services at Bear, Steams Securities Comp. Brooliyn, N.Y. 11201-3859. INSTITUTIONAL INTERESTS A/C #2 C/O FINANCIAL TRUST COMPANY ATTN LARRY KEMP . 6100 RED HOOK QUARTER SUITE B-3 ST THOMAS VI 00802 Market Value of Your Portfolio " $110,115 Cash & Equivalent $441,691 Equities HE Current market value $888 Last statements market value 027 This summary Is for informational purposes only. It Is not intended as a tax document ‘Ths statemem shoutd be retained for your records. See reverse side for important information 11/29'03,09:04 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Steams Securities a INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD November 1, 2003 THROUGH November 28,2003 account numccr TAXPAYER NUMBER On File LAST STATEMENT October 31,2003 vata EFTA00197778

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2 of STATEMENT BACKER IS PRINTED ON THIS PAGE 11/29903;08:04 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Boar, Steams Secuities Coy INSTITUTIONAL INTERESTS A/C #2 vata EFTA00197779

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 3 of9 STATEMENT PERIOD November 1, 2003 THROUGH Novernber 28, 2003 . ACCOUNT NUMBER ; Cash Flow Analysis Cash Balance Summary TAXPAYER NUMER On File THIS PERIOD OPENING LOSING LAST STATEMENT October 31, 2003 Cer seuss ts stntntnnnenenansesetntee Cash 328,764.63 9,694.17 Money Fund 12,676.90 Net Cash Balance $328,764.63 $9,694.17 Dividends/interest 21,069.17 su sateneneneeesnnnennnessesteeennnnnnnnnnennseneseeiee eeseeeetesis sees Amount Credited $33,748.07 Securities Bought -352,731.81 Income Summary Money Fund -86.72 THS PERIOD YEAR TO DATE ssveesoneesnnessssaeeennenenneeenseennessssanecansesanesaneesnn sss ees Dividends 21,042.97 283,025.34 Amount Deb ited. casssssssseenetseernimsensiedocenaeeeiny Credit Balance Int. 112.92 6,265.42 Net Cash Activity -319,070.46 Total $21,155.89 $289,290.76 A ati Your Portfolio Portfolio Composition Allocation Cash/Cash Equivalent 110,115 Equities 21,506,720 Cash & Equivalent <1% _ Equities 99% Unshaded portions denote debt balance andicr short market values. The alocation percentage is derived from the absohte market value of your portioiio. 027 11/29903;08:04 001 vara EFTA00197780

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co. Inc. —E ST RNS INSTITUTIONAL INTERESTS A/C #2 4 oo STATEMENT PERIOD November 1, 2003 THROUGH November 28, 2003 Your Portfolio Holdings acco xumccr CASH & CASH EQUIVALENTS TAXPAYER NUMBER On File LAST STATEMENT October 31,2003 NAABKET ESTIMATED — CURRENT DESCRETION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME —_YELD (%} CASH BALANCE 694 BEAR STEARNS PRIME MONEY BSMXX 100,420.73 1.0000 100,421 904 0.9002 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $110,115 $904 EQUITIES Equities & Options ACCT WAARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TYPE QUANTITY PRIEE VALUE ANNUAL INCOME YELD [%} AMERICAN INTERNATIONAL GROUP AIG CASH 25,000 57.9500 1,448,750 6,500 0.4487 INC BANK OF AMER CORP BAC CASH 40,000 75.4300 3,017,200 128,000 4.2423 CITIGROUP INC c CASH 27,375 47.0400 1,287,720 38,325 2.9762 FREDDIE MAC-VOTING COMMON FRE 30,000 54.4200 1,632,600 31,200 1.9111 (FORMERLY FEDERAL HOME LOAN MORTGAGE CORP) FANNIE MAE FNM CASH 5,000 70.0000 350,000 9,000 2.5714 (FEDERAL NATL MTG ASSN) INTERNATIONAL BUSINESS |BM CASH 20,000 90.5400 1,810,800 12.800 0.7069 MACHINES CORP JOHNSON& JOHNSON JNJ CASH 60,000 49.2900 2,957,400 57,600 1.9477 MBNA CORP KRB CASH 100,000 24.5200 2,452,000 40,000 1.6313 PFIZER INC PFE CASH 75,000 33.5500 2,516,250 45,000 1.7884 027 11/29'03,09:04 001 vars EFTA00197781

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 5 of9 STATEMENT PERIOD Novernber 1, 2003 THROUGH November 28, 2003 Your Portfolio Holdings (continued) account xumccr = TAXPAYER NUMBER On File LAST STATEMENT October 31,2003 Equities & Options (continued) AcCT MAARKET ESTIMATED CURRENT DESCRIPTION SYMBOLCUSIP TPE QUANTITY PRICE VALUE __ ANNUAL INCOME YELD (%) PROCTER & GAMBLE CO PG CASH 25,000 96.2400 2,406,000 45,500 1.8911 TIME WARNER INC TWX CASH 100,000 16.2800 1,628,000 NEW Total Equities& Options $21,506,720 $413,925 TOTAL EQUITIES $21,506,720 $413,925 YOUR TOTAL ESTIMATED ANNUAL INCOME $414,829 YOUR PRICED PORTFOLIOHOLDINGS $21,616,835 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT — TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 11/12/03 11/06/03 BOUGHT FANNIE MAE FNM 1,000 70.07000 70,482.30 (FEDERAL NATL MTG ASSN) DISCRETIONARY ORDER PART OF S000 SHR 027 11/29903;08:04 001 vara EFTA00197782

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 6 of9 STATEMENT PERIOD Novernber 1, 2003 THROUGH November 28, 2003 Transaction Detail (continued) acco xumccr TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT October 31, 2003 SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 11/12/03 11/06/03 BOUGHT FANNIE MAE FNM 4,000 70.15000 282,249.51 (FEDERAL NATL MTG ASSN) DISCRETIONARY ORDER PART OF S000 SHR TOTAL $-352,731.81 MONEY FUND ACTIVITY DATE MO'DAY TRANSACTION DESCAIPTION SYMBOUCUSIF QUANTITY PRICE OEBIT AMOUNT (CREDIT AMOUNT 11/01/03 OPENINGBALANCE 112,926.19 {Tiesi03 DIVIDEND BEAR STEARNS PRIME MONEY BSMXXx MARKET PORTFOLIO CL Y RECORD 10/31/03 PAY 10/31/03 {1i03/03 REINVEST BEAR STEARNS PRIME MONEY MARKET PORTFOLIO CL Y REINVEST PRICE $ 1.00 Ti2ti03 SOLD BEAR STEARNS PRIME MONEY BSMiKx “1259218 1.0000 1259218 MARKET PORTFOLIO CL Y 11/28/03 CLOSINGBALANCE 100,420.73 TOTAL $-86.72 $12,678.90 DIVIDENDS DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE ($) CEBIT AMOUNT CAEDIT AMOUNT 11/14/03 PROCTER & GAMBLE CO PG 25,000 0.4550 11,375.00 REC 10/24/03 PAY 11/14/03 027 11/29'03,09:04 001 vars EFTA00197783

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS 7 of9 Transaction Detail (continued) CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Stags Securities vl INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD Novernber 1, 2003 November 28, 2003 TAXPAYER NUMBER On File THROUGH ACCOUNT NUMBER DIVIDENDS (continued) LAST STATEMENT October 31, 2003 DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE ($) OEBIT AMOUNT (CREDIT AMOUNT 11/26/03 CITIGROUP INC c 27,375 0.3500 9,581.25 REC 11/03/03 PAY 11/26/03 TOTAL $20,956.25 INTEREST DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) CERT AMOUNT CAEDIT AMOUNT 11/21/03 INTEREST ONCREDIT BALANCE 0.5000 112.92 AT 0 1/2% 10/21 THRU 11/20 TOTAL $112.92 Trades Executed Pending Settlement SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 12/01/03 11/25/03 SOLD AMERICAN INTERNATIONAL GROUP AIG -25,000.00 57.4500 1,428,087.56 INC UNSOLICITED AS OF 11/25/03 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED 027 11/29903;08:04 001 vata EFTA00197784

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. 0 xn) i o STEARN S INSTITUTIONAL INTERESTS A/C #2 8 os STATEMENT PERIOD November 1, 2003 THROUGH November 28, 2003 Trades Executed Pending Settlement (continued) “ispnven wonsen On Fle LAST STATEMENT October 31,2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 12/01/03 11/25/03 SOLD CITIGROUP INC [7 -27,375.00 46.8701 1,275,478.72 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED SEE NOTE “S* ON BACK {FORMERLY FEDERAL HOME LOAN MORTGAGE CORP) AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED 20103 4 NN "5,000.00 69.5500 345,685.25 {FEDERAL NATL MTG ASSN) UNSOLICITED MACHINES CORP AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED {2i07/03 50.8640. 3.034,341.12 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED 12/01/03 1 MBNA CORP KRB -100,000.00 24.1996 2,403,223.60 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED 12/01/03 11/25/03 SOLD PFIZER INC PFE -75,000.00 33.4013 2,489,313.66 WITH RIGHTS TO PURCHASE PREFRD. STK UNDER CERTAIN CIRCUMSTANCE AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED 027 11/29'03,09:04 001 vars EFTA00197785

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Steans & Co. Inc. «ou, sta sues STEARNS a. 9 of INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD Novernber 1, 2003 THROUGH November 28, 2003 . account numccr = Trades Executed Pending Settlement (continued) TAXPAYER NUMBER On File LAST STATEMENT October 31,2003 SETTLEMENT TRADE DATE OaTE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 12/01/03 11/25/03 SOLD PROCTER & GAMBLE CO PG -25,000.00 96.9260 2,410,434.82 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED SEE NOTE "S* ON BACK 5/03 SOLD IME WARNER INC TWX -100,000.00 16.0800 1,595,009.31 NEW UNSOLICITED TOTAL $0.00 $21,372.449.58 The above trades co not appear in any other section of this statement f TOP] **eee* End of Statement****** 027 11/2903,08:04 001 vata EFTA00197786

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. STEARNS ACCOUNT EXECUTIVE GAREENBERG,ALAN C. TELEPHONE VISIT OUR WEBSITE www.bearstearns.com What’s In This Statement Financial Summary , : Your Portfolio Holdings . . Transaction Detail ........sessessseresseesrees 3 4 5 6 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THISPERIOD §=. 21,172,075 NET CREDIT BALANCE 328,765 MONEY MARKET FUND BALANCE 112,926 NET EQUITY THIS PERIOD $21,613,766 NET EQUITY LAST STATEMENT 20,934,613 CHANGE SINCE LAST STATEMENT 679,153 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. Ploase mport any difference cr nom-roceigt of checks or stocks, indicated as dallvered to you, © Client Senices at 800-634-1428; or write to Clem Services at Bear, Steams Securities Comp. Broollyn, N.Y. 11201-3859. INSTITUTIONAL INTERESTS A/C #2 C/O FINANCIAL TRUST COMPANY ATTN LARRY KEMP . 6100 RED HOOK QUARTER SUITE B-3 ST THOMAS VI 00802 Market Value of Your Portfolio Cash & Equivalent ovlyl Equities HE Current market value $888 Last statements market value 027 This summary is for informational purposes only. It Is not intended as a tax document ‘Tres statemem shoud be retamed for your records. See reverse side for important information 11/01/03;14:02 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Staans Securities vl INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD October 1, 2003 THROUGH October 31,2003 account numccr TAXPAYER NUMBER On File LAST STATEMENT September 30, 2003 vara EFTA00197787

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STATEMENT BACKER IS PRINTED ON THIS PAGE 11/01/03;14:02 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Boar, Steams Secuities Coy INSTITUTIONAL INTERESTS A/C #2 vata EFTA00197788

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS 3 of? Cash Flow Analysis THIS PERIOD OpeningBalance $93,684.50 Securities Sold 974,146.37 Money Fund 84.27 Dividends/ Interest 10,039.17 Amount Credited $984,269.81 Securities Bought -749,105.41 Money Fund -84.27 Amount Debited $-749,189.68 Net Cash Activity 235,080.13 Cash Balance Summary OPENING CLOSING Cash 93,684.50 328,764.63 Net Cash Bal: $93,684.50 Income Summary THiS PERIOD YEAR TO DATE Dividends 10,084.27 261,982.37 Credit Balance Int. 6,152.50 $268,134.87 Total Portfolio Composition Cash/Cash Equivalent 441,691 Equities 21,172,075 $21,613,766 027 11/01/03;14:02 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Stags Securities ol INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD October 1, 2003 THROUGH October 31,2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT September 30, 2003 Your Portfolio Allocation Cash & Equivalent 2% _ Equities 98% Unshaded portions denote debt balance andicr short market values. The alocation percentage is derived from the absohte market value of your portioiio. vata EFTA00197789

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. STEARNS 47 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAABKET ESTIMATED — CURRENT DESCRETION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME —_YELD (%} CASH BALANCE 328,765 BEAR STEARNS PRIME MONEY BSMXX 112,926.19 1.0000 112,926 1,028 0.9103 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $441,691 $1,028 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TRE QUANTITY PRICE VALUE ANNUAL INCOME YELD (%} AMERICAN INTERNATIONAL GROUP AIG CASH 25,000 60.8300 1,520,750 6,500 0.4274 INC BANK OF AMER CORP BAC CASH 40,000 75.7300 3,029,200 128,000 4.2255 CITIGROUP INC Cc CASH 27,375 47.4000 1,297,575 38,325 2.9536 " FREDDIE MAC-VOTING COMMON FRE 30,000 56.1300 1,683,900 31,200 1.8528 (FORMERLY FEDERAL HOME LOAN MORTGAGE CORP) INTERNATIONAL BUSINESS IBM CASH 20,000 89.4800 1,789,600 12,800 0.7152 MACHINES CORP JOHNSON& JOHNSON JNJ CASH MBNA CORP KRB CASH 100,000 24.7500 2,475,000 40,000 1.6162 PFIZER INC PFE CASH 75,000 31.6000 2,370,000 45,000 1.8987 1.8517 PROCTER & GAMBLE CO PG CASH 25,000 98.2900 2,457,250 027 11/01/03;14:02 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 1 Stag vities Cow INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD October 1, 2003 THROUGH October 31,2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT September 30, 2003 vara EFTA00197790

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 5 of? STATEMENT PERIOO October 1, 2003 THROUGH October 31, 2003 Your Portfolio Holdings (continued) ACCOUNT NUMBER ; TAXPAYER NUMBER On File san . LAST STATEMENT September 30, 2003 Equities & Options (continued) ACCT MARKET ESTIMATED CURRENT DESCRETION SYMBOLICUSIP ™ QUANTITY PRICE VALUE ANNUAL INCOME YELD (%} TIME WARNER INC TWX CASH 100,000 15.2900 1,529,000 NEW Total Equities& Options $21,172,075 $404,925 TOTAL EQUITIES $21,172,075 $404,925 YOUR TOTAL ESTIMATED ANNUAL INCOME $405,953 YOUR PRICED PORTFOLIOHOLDINGS $21,613,766 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE DATE TRANSACTION. CESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 10/16/03 NAME CHG AOL TIME WARNER INC 00184A105 -100,000 4011234 TO TO07117 NIC TIME WARNER INC 10/16/03 NAME CHG TIME WARNER INC TWX 100,000 NEW TOO7117 FROM A011234 NIC TIME WARNER INC 10/27/03 1 03 SOLD" ETDUPONT DE NEMOURS & CO bo "25,000 39.20820 974,146.37 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER 027 11/01/03;14:02 001 vara EFTA00197791

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 ger STATEMENT PERIOD October 1, 2003 THROUGH October 31, 2003 Transaction Detail (continued) account numccr = TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT September 30, 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 10/30/03 10/27/03 BOUGHT BANK OF AMER CORP BAC 10,000 74.49740 749,105.41 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER TOTAL $-749,105.41 $974,146.37 MONEY FUND ACTIVITY DATE MOIDAY TRANSACT DESCAIFTION SYMBOLUCUSIF QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 10/01/03 OPENINGBALANCE 112,841.92 MARKET PORTFOLIO CL Y RECORD 09/30/03 PAY 09/30/03 {0/07/03 REINVEST BEAR STEARNS PRIME MONEY MARKET PORTFOLIO CL Y REINVEST PRICE $ 1.00 10/31/03 CLOSINGBALANCE 112,926.19 TOTAL $-84.27 $84.27 027 11/01/03;14:02 001 vata EFTA00197792

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Steams & Co. Inc. STEARNS 7 of? Transaction Detail (continued) CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Ste INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD October 1, 2003 THROUGH October 31,2003 account numccr (S TAXPAYER NUMBER On File DIVIDENDS LAST STATEMENT — Septemiber 30, 2003 DATE DESCRIPTION SYMBOUUSIF QUANTITY RATE (8) DEBIT AMOUNT CAEDIT AMOUNT 10/01/03 MBNA CORP KAB 100,000 0.1000 10,000.00 REC 09/15/03 PAY 10/01/03 TOTAL $10,000.00 INTEREST DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) DEBIT AMOUNT CAEDIT AMOUNT 10/21/03 INTEREST ONCREDIT BALANCE 0.5000 39.17 AT 0 1/2% 09/21 THRU 10/20 TOTAL $39.17 [stop] “***** End of Statement™***** 027 11/01/03;14:02 001 vara EFTA00197793

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OFFICE SERVICING YOUR ACCOUNT BEAR STEARNS ACCOUNT EXECUTIVE GREENBERG,ALAN C. TELEPHONE VISIT OUR WEBSITE What’s In This Statement www.bearstearns.com Financial Summary 3 Your Portfolio Holdings . 4 Transaction Detail .....ssssseeeeneres 5 Your Message@S wien 8 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD 20,728,086 NET CREDIT BALANCE 93,685 MONEY MARKET FUND BALANCE 112,842 3 20,913,103 21,509 NET EQUITY THIS PERIOD eveeeeenenenene ccs eeaeeesneneresaenene sic eneenenanaen NET EQUITY LAST STATEMENT CHANGE SINCE LAST STATEMENT There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. Please roport any diference or nomroceigt of checks or stocks, indicated as doltvered to you, % Client Senices at 800-634-1428; or write to Clont Services at Bear, Steams Securities Bear. Stearns & Co- inc. INSTITUTIONAL INTERESTS A/C #2 C/O FINANCIAL TRUST COMPANY ATTN LARRY KEMP . 6100 RED HOOK QUARTER SUITE B-3 ST THOMAS VI 00802 Market Value of Your Portfolio $206,527 $135,397 $20,728,086 HE Current market value S888 Last statement's market value Cash & Equivalent o27 10/01/03;11:21 001 This summary Is for informational purposes only. It Is not intended as a tax document This stateemt should be retained for your records. See reverse side for important information CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 0 n i INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD August 30,2003 September 30, 2003 account numccr TAXPAYER NUMBER On File August 29, 2003 THROUGH LAST STATEMENT Important Message Bear Stearns is pleased to announce our conversion to a calendar month-end statement. Effective this month, your account Statement reflects all activity and account valuation up to and including the last business day of the month. vata EFTA00197794

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2 of STATEMENT BACKER IS PRINTED ON THIS PAGE 10/01/03;11:21 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Boar, Steams Secuities Coy INSTITUTIONAL INTERESTS A/C #2 vara EFTA00197795

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT . BEAR Bear. Stearns & Co. Inc. «ou, sta sues STEARNS a. INSTITUTIONAL INTERESTS A/C #2 3 of9 STATEMENT PERIOO August 30,2003 THROUGH September 30, 2003 . ACCOUNT NUMBER ; Cash Flow Analysis Income Summary TAXPAYER NUMBER On File THIS PERIOD THiS PERIOD YEAR TO DATE SOS LAST STATEMENT August 29, 2003 OpeningBalance $22,643.20 Dividends 71,112.79 251,898.10 seeensenes Credit Balance Int. 16.30 6,113.33 Money Fund 87.79 saseanenens suneeessssannan wonceeees oo Total 258,011.43 Dividends /Interest 71,041.30 otbeteenesaeseenseneesoesenee ho S Amount Credited Money Fund Portfolio Composition Amount Debited Cash/Cash Equivalent 206,527 71,041.30 Equities 20,728,086 Closing Balance $93,684.50 $20,934,613 Your Portfolio Cash Balance Summary Allocation OPENING CLOSING Cash 22,643.20 93,684.50 Net Cash Balance $22,643.20 $93,684.50 <% _ Equities 99% Unshaded portions denote debt batance andicr short market valves. The alocation percentage is derved from the absohte market value of your portiotio 027 10/01/03;11:21 001 vara EFTA00197796

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. STEARNS 4 a9 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAABKET ESTIMATED — CURRENT DESCRETION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME —_YELD (%} CASH BALANCE 93,685 BEAR STEARNS PRIME MONEY BSMXX 112,841.92 1.0000 112,842 1,016 0.9004 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $206,527 $1,016 EQUITIES Equities & Options ACCT WAARKET ESTIMATED CURRENT DESCRIFTION SYMBOUCUSIP TRE QUANTITY. PRICE VALUE ANNUAL INCOME YELD [%} AOL TIME WARNER INC AOL CASH 100,000 15.1100 1,511,000 AMERICAN INTERNATIONAL GROUP AIG CASH 25,000 57.7000 1,442,500 6,500 0.4506 INC BANK OF AMER CORP BAC CASH 30,000 78.0400 2,341,200 96,000 4.1005 CITIGROUP INC c £1 DU PONT DE NEMOURS & CO i2)8) CASH 25,000 40.0100 1,000,250 35,000 3.4991 27,375 45.5100 1,245,836 38,325 3.0762 FREDDIE MAC-VOTING COMMON FRE CASH 30,000 52.3500 1,570,500 31,200 1.9866 (FORMERLY FEDERAL HOME LOAN MORTGAGE CORP) INTERNATIONAL BUSINESS IBM CASH 20,000 88.3300 1,766,600 12,800 0.7246 MACHINES CORP JOHNSON& JOHNSON JNU CASH 60,000 49.5200 2,971,200 57,600 1.9386 1.7544 MBNA CORP KRB CASH 100,000 22.8000 2,280,000 027 10/01/03;11:21 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 1 Stag vities Cow INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD August 30,2003 THROUGH September 30, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT August 29, 2003 vara EFTA00197797

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. inc. STEARNS Your Portfolio Holdings (continued) Equities & Options (continued) CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Steams Securities ol INSTITUTIONAL INTERESTS A/C #2 5 of9 STATEMENT PERIOO August 30,2003 THROUGH September 30, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT August 29, 2003 ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TYRE QUANTITY PRICE VALUE ANNUAL INCOME YELD (%) PFIZER INC PFE CASH 75,000 30.3800 2,278,500 45,000 PROCTER & GAMBLE CO PG CASH 25,000 92.8200 2,320,500 45,500 1.9608 Total Equities& Options $20,728,086 $407,925 TOTAL EQUITIES $20,728,086 $407,925 YOUR TOTAL ESTIMATED ANNUAL INCOME $408,941 YOUR PRICED PORTFOLIOHOLDINGS $20,934,613 Transaction Detail MONEY FUND ACTIVITY DATE MO/DAY TRANSACTION DESCAIPTION SYMBOUCUSIP QUANTITY PRICE CEBIT AMOUNT CAEDIT AMOUNT 08/30/03 OPENINGBALANCE 112,754.13 MARKET PORTFOLIO CL Y RECORD 08/29/03 PAY 08/29/03 MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00 027 10/01/03;11:21 001 vara EFTA00197798

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. 0 xn) INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD August 30,2003 September 30, 2003 THROUGH Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File MONEY FUND ACTIVITY (continued) LAST STATEMENT MODAY TRANSACTION DESCAIPTION SYMBOUCUSIP QUANTITY PRICE OEBIT AMOUNT 09/30/03 CLOSINGBALANCE 112,841.92 (CREDIT AMOUNT TOTAL $-87.79 $87.79 DIVIDENDS DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE ($) CERT AMOUNT CAEDIT AMOUNT 09/04/03 PFIZER INC PFE 75,000 0.1500 11,250.00 REC 08/15/03 PAY 09/04/03 09/09/03 JOHNSON& JOHNSON JNJ 60,000 0.2400 14,400.00 REC 08/19/03 PAY 09/09/03 os/i0i03 “INTERNATIONAL BUSINESS iBM 20,000 0.1600 3,200.00 MACHINES CORP REC 08/08/03 PAY 09/10/03 09/12/03 £1 DUPONT DE NEMOURS & CO OD 25,000 0.3500 8,750.00 REC 08/15/03 PAY 09/12/03 09/19/03 AMERICAN INTERNATIONAL GROUP AIG 25,000 0.0650 INC REC 09) (03 PAY 19/03 09/26/03 BANK OF AMEA CORP BAC 30,000 0.8000 24,000.00 REC 09/05 (03 PAY 09/26/03 (FORMERLY FEDERAL HOME LOAN MORTGAGE CORP} REC 09/15/03 PAY 09/30/03 TOTAL $71,025.00 027 10/01/03;11:21 001 vara August 29, 2003 EFTA00197799

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CLEARED THR! WHOLLY OWNE OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Steams & Co. Inc. STEARNS 7 of9 INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD August 30,2003 THROUGH September 30, 2003 Transaction Detail (continued) account numccr [ED TAXPAYER NUMBER On File INTEREST LAST STATEMENT August 29, 2003 DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE [%) DEBIT AMOUNT CREDIT AMOUNT 09/22/03 INTEREST ONCREDIT BALANCE 0.5000 16.30 AT 0 1/2% 08/21 THRU 09/20 TOTAL $16.30 o2? 10/01/03;11:21 001 wara EFTA00197800

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. gans = 8 os Your messages ie Bear, Stearns Securities Corp, Net Capital and Net Capital Requirements: At May 31, 2003 and July 31, 2003, the Company's net capital of approximately $2.4 billion and $3.0 billion was approximately 6% and 7% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately $799.5 million and $904.4 million by approximately $1.6 billion and $2.1 billion, all respectively. A complete copy of the Bear, Stearns Securities Corp, Statement of Financial Condition is available on the web site www.bearsteams,com, Altematively, to request a free printed copy please call - toll free 1-866-299-9331, CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY xn) i i INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOG August 30,2003 THROUGH September 30, 2003 account nuvecr TAXPAYER NUMBER On File LAST STATEMENT August 29, 2003 eS Securities and other assets in your account are the firm's collateral for any margin loan made to you. If the securities and other assets in your account decline in value, so does the value of the collateral supporting your loan, and, as a result, the firm can take action, such as issue a margin call and/or sell securities or other assets in any of your accounts held with the member, in order to maintain the required equity in the account, It is important that you fully understand the risks involved in trading securities on margin, These risks include the following: * You can lose more funds than you deposit in the margin account, * The firm can force the sale of securities or other assets in you account(s), * The firm can sell your securities or other assets without contacting you. * You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold to meet a margin call, * The firm can increase its “house” maintenance margin requirements at any time and is not required to provide you advance written notice, * You are not entitled to an extension of time on a margin call, 027 10/01/03;11:21 001 vara EFTA00197801

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BEAR OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. STEARNS 9 of9 TZ 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. (stop) ****** End of Statement™***** \, / —/ CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 0 xn) i o INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOO August 30,2003 THROUGH September 30, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT August 29, 2003 TS Pursuant to SEC Rule 11Ac1-6, please note the following: Bear, Stearns & Co, Inc, will post its quarterly routing statistics at the following web link: http://www,bearstearns,com/, Click on Individual Investor, Click on Equities, Click on Order Routing Practices. Customers of Bear, Stearns & Co, Inc, may request information on any order executed within the prior six months from the time of the request. Specifically, you may request the identity of the venue to which the identified orders were routed for execution, whether the order was directed by you to that venue, and the time of the executions, if any, that resulted from such orders, 027 10/01/03;11:21 001 vaia EFTA00197802

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OFFICE SERVICING YOUR ACCOUNT BEAR STEARNS ACCOUNT EXECUTIVE GREENBERG,ALAN C. TELEPHONE VISIT OUR WEBSITE What’s In This Statement wow.bearstearns.com Financial Summary 3 Your Portfolio Holdings . 4 Transaction Detail .....sscssseeeennees 5 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD §=©—- 20,777,706 NET CREDIT BALANCE 22,643 MONEY MARKET FUND BALANCE 112,754 3 21,483,942 -570,839 NET EQUITY THIS PERIOD NET EQUITY LAST STATEMENT CHANGE SINCE LAST STATEMENT There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. Ploase moport any diference or neeroceigt of checks of stocks, indicated as doltvered to you, % Client Senices at 800-634-1428; or write to Clont Services at Bear, Steams Securities Corp. Brooklyn. N.Y. 11201-3859, Bear. Stearns & Co- inc. INSTITUTIONAL INTERESTS AIC #2 C/O FINANCIAL TRUST COMPANY ATTN LARRY KEMP . 6100 RED HOOK QUARTER SUITE B-3 ST THOMAS VI 00802 Market Value of Your Portfolio $135,397 $114,233 $20,777,706 HE Current market value S888 Last statement's market value Cash & Equivalent o27 (08/3003;13:45 001 This summary is for informational purposes only. It Is not intended as a tax document This statement should be retained for your records. See reverse side for important information CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY nN) vities Coy INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD July 26, 2003 August 29, 2003 accoust numccr TAXPAYER NUMBER On File THROUGH LAST STATEMENT duly 25, 2003 Important Message Bear Stearns is pleased to announce our conversion to a calendar month-end statement. Effective September 2003, your account statement will reflect all activity and account valuation up to and including the last business day of the month. var2 EFTA00197803

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2 of6 STATEMENT BACKER IS PRINTED ON THIS PAGE 08/30103;13:45 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Boar, Steams Secuities Coy INSTITUTIONAL INTERESTS A/C #2 var2 EFTA00197804

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS Cash Flow Analysis THIS PERIOD OpeningBalance $1,685.28 Money Fund 206.19 Dividends/interest 20,957.92 Amount Credited $21,164.11 Money Fund Amount Debited 20,957.92 Closing Balance $22.643.20 Cash Balance Summary OPENING CLOSING Cash 1,685.28 22,643.20 Net Cash Balance $1,685.28 $22,643.20 3 of 6 Income Summary THiS PERIOD YEAR TO DATE Dividends 21,162.44 180,785.31 Credit Balance Int. 1.67 6,097.03 Total $21,164.11 $186,882.34 Portfolio Composition Cash/Cash Equivalent 135,397 Equities 20,777,706 $20,913,103 027 (08/3003;13:45 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Stags Securities ol INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT July 25, 2003 Your Portfolio Allocation Cash & Equivalent <1% _ Equities 99% Unshaded portions denote debt batance andicr short market valves. The alocation percentage is derved from the absohte market value of your portiotio var2 EFTA00197805

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. STEARNS 4 of6 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (%} CASH BALANCE 22,643 BEAR STEARNS PRIME MONEY BSMXX 112,754.13 1.0000 112,754 1,026 0.9099 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $135,397 $1,026 EQUITIES Equities & Options ACCT WAARKET ESTIMATED CURRENT DESCRIFTION SYMBOUCUSIP TRE QUANTITY. PRICE VALUE ANNUAL INCOME YELD [%} AOL TIME WARNER INC AOL CASH 100,000 16.3600 1,636,000 AMERICAN INTERNATIONAL GROUP AIG CASH 25,000 59.5700 1,489,250 6,500 0.4365 INC BANK OF AMER CORP BAC CASH 30,000 79.2500 2,377,500 96,000 4.0379 CITIGROUP INC c £1 DU PONT DE NEMOURS & CO i2)8) CASH 25,000 44.7400 1,118,500 35,000 3.1292 27,375 43.3500 1,186,706 38,325 3.2295 FREDDIE MAC-VOTING COMMON FRE CASH 30,000 53.1500 1,594,500 31,200 1.9567 (FORMERLY FEDERAL HOME LOAN MORTGAGE CORP) INTERNATIONAL BUSINESS IBM CASH 20,000 82.0100 1,640,200 12,800 0.7804 MACHINES CORP JOHNSON& JOHNSON JNJ CASH 60,000 49.5800 2,974,800 57,600 1.9363 1.7138 MBNA CORP KRB CASH 100,000 23.3400 2,334,000 027 (08/3003;13:45 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 0 xn) rities INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT var2 July 26, 2003 August 29, 2003 On File July 25, 2003 EFTA00197806

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. inc. STEARNS Your Portfolio Holdings (continued) Equities & Options (continued) CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Steams Securities ol INSTITUTIONAL INTERESTS A/C #2 5 of6 STATEMENT PERIOD July 26, 2003 THROUGH August 29, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT duly 25, 2003 ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TYRE QUANTITY PRICE VALUE ANNUAL INCOME YELD (%) PFIZER INC PFE CASH 75,000 29.9200 2,244,000 45,000 PROCTER & GAMBLE CO PG CASH 25,000 87.2900 2.182.250 45,500 2.0850 Total Equities& Options $20,777,706 $407,925 TOTAL EQUITIES $20,777,706 $407,925 YOUR TOTAL ESTIMATED ANNUAL INCOME $408,951 YOUR PRICED PORTFOLIOHOLDINGS $20,913,103 Transaction Detail MONEY FUND ACTIVITY DATE MO/DAY TRANSACTION DESCAIPTION SYMBOUCUSIP QUANTITY PRICE CEBIT AMOUNT CAEDIT AMOUNT 07/26/03 OPENINGBALANCE 112,547.94 MARKET PORTFOLIO CL Y RECORD 07/31/03 PAY 07/31/03 MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00 027 (08/3003;13:45 001 vai2 EFTA00197807

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS 6 of 6 Bear Steams Sec: Co 1 | INSTITUTIONAL INTERESTS AIC #2 STATEMENT PERIOO July 26, 2003 THROUGH Transaction Detail (continued) August 29, 2003 account numccr (S TAXPAYER NUMBER On File MONEY FUND ACTIVITY (continued) LAST STATEMENT July 25, 2003 DATE MONDAY TRANSACTION DESCAIPTION SYMBOUCUSIF QUANTITY PRICE DEBIT AMOUNT CAEDIT AMOUNT 08/29/03 CLOSINGBALANCE 112,754.13 TOTAL $-206.19 $206.19 DIVIDENDS DATE DESCRIPTION SYMBOUCUSIP QUANTITY AATE ($) DEBIT AMOUNT CAEDIT AMOUNT 08/15/03 PROCTER & GAMBLE CO PG 25,000 0.4550 11,375.00 REC 07/18/03 PAY 08/15/03 CITIGROUP INC 27,375 0.3500 9,581.25 REC 08/04/03 PAY 08/22/03 TOTAL $20,956.25 INTEREST DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE (%) DEBIT AMOUNT CAEDIT AMOUNT 08/21/03 INTEREST ONCREDIT BALANCE 0.5000 1.67 AT 0 1/2% O7/21 THRU 08/20 TOTAL $1.67 027 08/30103;13:45 001 var2 EFTA00197808

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OFFICE SERVICING YOUR ACCOUNT BEAR STEARNS CCOUNT EXECUTIVE GREENBERG,ALAN C. TELEPHONE VISIT OUR WEBSITE What’s In This Statement www.bearstearns.com Financial Summary .. 3 Your Portfolio Holdings . . 4 Transaction Detail .....ssssseeenes 5 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD §=©. 21,369,709 NET CREDIT BALANCE 1,685 MONEY MARKET FUND BALANCE 112,548 NET EQUITY THIS PERIOD $21,483,942 NET EQUITY LAST STATEMENT 20,909,370 CHANGE SINCE LAST STATEMENT 574,572 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. Ploase mport any difference cr nom-roceigt of checks or stocks, indicated as dalivered to you, %© Client Senices at 800-634-1428; or write to Clem Services at Bear, Steams Securities Comp. Brooliyn, N.Y. 11201-3859. Bear. Stearns & Co- inc. INSTITUTIONAL INTERESTS A/C #2 C/O FINANCIAL TRUST COMPANY ATTN LARRY KEMP . 6100 RED HOOK QUARTER SUITE B-3 ST THOMAS Vi 00802 Market Value of Your Portfolio $114,233 $633,621 Cash & Equivalent Equities $21,369,709 $20,275,749 HE Current market value $888 Last statement's market value 027 This summary is for informational purposes only. It Is not intended as a tax document Ths statemem should be retamed for your records. See reverse side for important mformation 07/26/03;10:33 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Steams Securities nl INSTITUTIONAL INTERESTS AIC #2 STATEMENT PERIOD June 28, 2003 THROUGH July 25, 2003 account numccr TAXPAYER NUMBER On File LAST STATEMENT June 27, 2003 vant EFTA00197809

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STATEMENT BACKER IS PRINTED ON THIS PAGE 07/26/03;10:33 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Boar, Steams Secuities Coy INSTITUTIONAL INTERESTS A/C #2 EFTA00197810

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BEAR STEARNS 3 of? Cash Flow Analysis OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. THIS PERIOD OpeningBalance Money Fund Dividends/interest Amount Credited Securities Bought Money Fund Net Cash Activity Amount Debited $21,629.88 13,205.15 $513,762.10 -§33.149.75 -556.95 $-533,706.70 -19,944.60 Cash Balance Summary Cash 21,629.88 1,685.28 Net Cash Balance $21,629.88 $1,685.28 Income Summary THIS PERIOD YEAR TO DATE Dividends 13,756.95 159,622.87 Credit Balance Int. 5.15 6,095.36 Total $13,762.10 $165,718.23 Portfolio Composition Cash/Cash Equivalent 114,233 Equities 21,369,709 027 07/26/03;10:33 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Stags Securities ol INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD June 28, 2003 THROUGH July 25, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT June 27, 2003 Your Portfolio Allocation Cash & Equivalent <1% _ Equities 99% Unshaded portions denote debt balance andicr short market values. The alocation percentage is derived from the absohte market value of your portioiio. vant EFTA00197811

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. STEARNS 47 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (%} CASH BALANCE 685 BEAR STEARNS PRIME MONEY BSMXX 112,547.94 1.0000 112,548 1,035 0.9196 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $114,233 $1,035 EQUITIES Equities & Options ACCT WAARKET ESTIMATED CURRENT DESCRIFTION SYMBOUCUSIP TRE QUANTITY. PRICE VALUE ANNUAL INCOME YELD [%} AOL TIME WARNER INC AOL CASH 100,000 15.3200 1,532,000 AMERICAN INTERNATIONAL GROUP AIG CASH 25,000 64.6500 1,616,250 6,500 0.4022 INC BANK OF AMER CORP BAC CASH 30,000 83.5300 2,505,900 96,000 3.8310 CITIGROUP INC c £1 DU PONT DE NEMOURS & CO bb CASH 25,000 44.6900 1,117,250 35,000 3.1327 FREDDIE MAC-VOTING COMMON FRE CASH 30,000 50.7500 1,522,500 31,200 2.0493 (FORMERLY FEDERAL HOME LOAN MORTGAGE CORP) INTERNATIONAL BUSINESS IBM CASH 20,000 83.6700 1,673,400 12,800 0.7649 MACHINES CORP JOHNSON& JOHNSON JNU CASH 60,000 52.2300 3,133,800 57,600 1.8380 MBNA CORP KRB CASH 100,000 23.0000 2,300,000 27,375 45.7300 1,251,859 38,325 3.0614 1.7391 027 07/26/03;10:33 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 0 xn) rities INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT vant June 28, 2003 July 25, 2003 On File June 27, 2003 EFTA00197812

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 5 of? STATEMENT PERIOD June 28, 2003 THROUGH July 25, 2003 Your Portfolio Holdings (continued) account xumccr = TAXPAYER NUMBER On File sas " LAST STATEMENT June 27, 2003 Equities & Options (continued) ACCT NAARKET ESTIMATED CURRENT DESCRIPTION SYMBOLICUSIP TYPE QUANTITY PRICE VALUE __ ANNUAL INCOME YELD [X) PFIZER INC PFE CASH 75,000 33.0400 2,478,000 45,000 PROCTER & GAMBLE CO PG CASH 25,000 89.5500 2,238,750 45,500 2.0324 Total Equities& Options $21,369,709 $407,925 TOTAL EQUITIES $21,369,709 $407,925 YOUR TOTAL ESTIMATED ANNUAL INCOME $408,960 YOUR PRICED PORTFOLIOHOLDINGS $21,483,942 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 07/08/03 07/02/03 BOUGHT FREDDIE MAC-VOTING COMMON FRE 10,000 53.00000 533,149.75 (FORMERLY FEDERAL HOME LOAN MORTGAGE CORP) DISCRETIONARY ORDER TOTAL $-533,149.75 oz? 07/2603;10:33 001 vant EFTA00197813

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS 6 of? Transaction Detail (continued) MONEY FUND ACTIVITY DATE MONDAY TRANSACTION DESCAIPTION 06/28/03 OPENINGBALANCE SYMBOUCUSIP QUANTITY PRICE 611,990.99 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Steams Securities ol INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD June 28, 2003 THROUGH July 25, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT June 27, 2003 CESIT AMOUNT (CREDIT AMOUNT 07/01/03 DIVIDEND BEAR STEARNS PRIME MONEY MARKET PORTFOLIO CL ¥ RECORD 06/30/03 PAY 06/30/03 MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00 MARKET PORTFOLIO CL Y 07/25/03 CLOSINGBALANCE TOTAL DIVIDENDS DATE DESCRIPTION SYMBOUCUSIP 06/30/03 FREDDIE MAC-VOTING COMMON FRE (FORMERLY FEDERAL HOME LOAN MORTGAGE CORP) REC 06/16/03 PAY 06/30/03 112,547.94 QUANTITY RATE ($) DEBIT AMOUNT 20,000 0.2600 REC 06/13/03 PAY 07/01/03 TOTAL 07/26/03;10:33 001 $-556.95 $500,556.95 CAEDIT AMOUNT 5,200.00 $13,200.00 van EFTA00197814

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co. Inc. STEARNS 7 of? Transaction Detail (continued) INTEREST DATE DESCRIPTION SYMBOUCUSIP 07/21/03 INTEREST ONCREDIT BALANCE AT 0 3/4% 06/21 THRU 06/24 INTEREST ON CREDIT BALANCE AT O 1/2% 06/25 THRU 07/20 QUANTITY RATE (Sb 0.7500 DEBIT AMOUNT CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD June 28, 2003 THROUGH duly 25, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT dune 27, 2003 CREDIT AMOUNT 0.17 4.98 $5.15 [STOP] ****** Endof Statement****** 027 07/26/03;10:33 001 EFTA00197815

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OFFICE SERVICING YOUR ACCOUNT BEAR STEARNS ACCOUNT EXECUTIVE GREENBERG,ALAN C. TELEPHONE VISIT OUR WEBSITE What’s In This Statement www.bearstearns.com Financial Summary 3 Your Portfolio Holdings . 4 Transaction Detail .....sssssseeenees 5D Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD 20,275,749 NET CREDIT BALANCE 21,630 MONEY MARKET FUND BALANCE 611,991 0 20,677,883 231,487 NET EQUITY THIS PERIOD NET EQUITY LAST STATEMENT CHANGE SINCE LAST STATEMENT There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. Please moport any diference or nceroceigt of checks of stocks, indicated as delivered to you, % Client Senices at 800-624-1428; or write to Clont Services at Bear, Steams Securities Comp. Brooklyn. N.Y. 11201-3859, Bear. Stearns & Co- inc. INSTITUTIONAL INTERESTS AIC #2 C/O FINANCIAL TRUST COMPANY ATTN LARRY KEMP . 6100 RED HOOK QUARTER SUITE B-3 ST THOMAS Vi 00802 Market Value of Your Portfolio 33,621 $2,711,160 $20,275,749 HE Current market value S888 Last statement's market value Cash & Equivalent o27 (06/28/03;12:00 001 This summary is for informational purposes only. It Is not intended as a tax document This statement should be retamed for your records. See reverse side for important information CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 1 Stag vities Cow INSTITUTIONAL INTERESTS AIC #2 STATEMENT PERIOO May 31,2003 June 27, 2003 account numccr TAXPAYER NUMBER On File May 30, 2003 THROUGH LAST STATEMENT 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. vao8 EFTA00197816

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STATEMENT BACKER IS PRINTED ON THIS PAGE 06/28/03;12:00 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Boar, Steams Secuities Coy INSTITUTIONAL INTERESTS A/C #2 vaoa EFTA00197817

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS 3 of? Cash Flow Analysis THIS PERIOD OpeningBalance Money Fund 67,642.13 Dividends/interest 50,112.00 Amount Credited $117,754.13 128,293.12 Securities Bought Money Fund -642.13 Amount Debited Net Cash Activity Cash Balance Summary OPENING CLOSING Cash 2,032,811.00 21,629.88 Net Cash Balance $2,032,811.00 $21,629.88 Income Summary THIS PERIOD YEAR TO DATE Dividends 49,867.13 145,865.92 Credit Balance Int. 887.00 6,090.21 Total $50,754.13 $151,956.13 Portfolio Composition Cash/Cash Equivalent 633,621 Equities 20,275,749 027 (06/28/03;12:00 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Stags Securities ol INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD May 31, 2003 THROUGH June 27, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT May 30, 2003 Your Portfolio Allocation Cash & Equivalent — 3% — Equities 97% Unshaded portions denote debt balance andicr short market values. The alocation percentage is derived from the absohte market value of your portioiio. vaca EFTA00197818

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. STEARNS 47 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (%} CASH BALANCE 21,630 BEAR STEARNS PRIME MONEY BSMXX 611,990.99 1.0000 611,991 6,304 1.0301 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $633,621 $6,304 EQUITIES Equities & Options ACCT WAARKET ESTIMATED CURRENT DESCRIFTION SYMBOUCUSIP TRE QUANTITY. PRICE VALUE ANNUAL INCOME YELD [%} AOL TIME WARNER INC AOL CASH 100,000 15.8200 1,582,000 AMERICAN INTERNATIONAL GROUP AIG CASH 25,000 55.6900 1,392,250 5,200 INC BANK OF AMER CORP BAC CASH 30,000 79.6100 2,388,300 96,000 4.0196 CITIGROUP INC c £1 DU PONT DE NEMOURS & CO i2)8) CASH 25,000 41.8300 1,045,750 35,000 3.3469 0.3735 " 27,375 43.0100 1,177,399 21,900 1.8600 FREDDIE MAC-VOTING COMMON FRE CASH 20,000 50.0000 1,000,000 20,800 2.0800 (FORMERLY FEDERAL HOME LOAN MORTGAGE CORP) INTERNATIONAL BUSINESS IBM CASH 20,000 83.4200 1,668,400 12,800 0.7672 MACHINES CORP JOHNSON& JOHNSON JNJ CASH 60,000 51.5400 3,092,400 57,600 1.8626 1.5422 MBNA CORP KRB CASH 100,000 20.7500 2,075,000 027 (06/28/03;12:00 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 0 xn) rities INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD THROUGH ACCOUNT NUMBER TAXPAYER NUMBER LAST STATEMENT vaos May 31, 2003 June 27, 2003 On File May 30, 2003 EFTA00197819

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 5 of? STATEMENT PERIOD May 31, 2003 THROUGH June 27, 2003 Your Portfolio Holdings (continued) accout uumcce | TAXPAYER NUMBER On File an . LAST STATEMENT May 30, 2003 Equities & Options (continued) ACCT NANRKET ESTIMATED CURRENT DESCRIPTION SYMBOLICUSIP TPE QUANTITY PRICE VALUE __ ANNUAL INCOME YELD (%) PFIZER INC PFE CASH 75,000 35.0000 2,625,000 45,000 PROCTER & GAMBLE CO PG CASH 25,000 89.1700 2,229,250 41,000 1.8392 Total Equities& Options $20,275,749 $367,300 TOTAL EQUITIES $20,275,749 $367,300 YOUR TOTAL ESTIMATED ANNUAL INCOME $373,604 YOUR PRICED PORTFOLIOHOLDINGS $20,909,370 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 06/09/03 06/04/03 BOUGHT £1 DU PONT DE NEMOURS & CO od 200 43.30000 8,711.96 DISCRETIONARY ORDER PART OF 25000 SHR 06/09/03 96/04) 3 BOUGHT £1 DU PONT DE NEMOURS & CO oD 1,500 43.32000 65,369.70 DISCRETIONARY ORDER PART OF 25000 SHR DISCRETIONARY ORDER PART OF 25000 SHR 027 (06/28/03;12:00 001 vaos EFTA00197820

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 6 of? STATEMENT PERIOD May 31, 2003 THROUGH June 27, 2003 Transaction Detail (continued) TAXPAYER NUMBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT = May 30, 2003 SETTLEMENT TRADE account numccr (S DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 06/13/03 06/10/03 BOUGHT FREDDIE MAC-VOTING COMMON FRE 20,000 51.49010 1,035,772.16 (FORMERLY FEDERAL HOME LOAN MORTGAGE CORP AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER TOTAL $-2,128,293.12 MONEY FUND ACTIVITY DATE MO’DAY TRANSACTION DESCAIPTION SYMBOUCUSIP QUANTITY PRICE CEBIT AMOUNT CAEDIT AMOUNT 05/31/03 OPENINGBALANCE 678.348.86 DIVIDEND BEAR STEARNS PRIME MONEY BSMXX 642.13 MARKET PORTFOLIO CL Y RECORD 05/30/03 PAY 05/30/03 06/02/03 REINVEST BEAR STEARNS PRIME MONEY BSMXXx 642.13 642.13 MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00 06/12/03 SOLD BEAR STEARNS PRIME MONEY SMX "67,000 1.0000 MARKET PORTFOLIO CL ¥ 06/27/03 CLOSINGBALANCE 611.990.99 TOTAL $-642.13 $67,642.13 027 (06/28/03;12:00 001 vaos EFTA00197821

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 7 of? STATEMENT PERIOD May 31, 2003 THROUGH Transaction Detail (continued) ACCOUNT NUMBER June 27, 2003 TAXPAYER NUMBER On File DIVIDENDS LAST STATEMENT DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE (S$) DEBIT AMOUNT CAEDIT AMOUNT O6/05/03 PFIZER INC PFE 75,000 0.1500 11,250.00 REC 0: (03 PAY 06/05/03 O6/10/03 INTERNATIONAL BUSINESS MACHINES CORP REC 05/09/03 PAY 06/10/03 20,000 0.1600 06/10/03 JOHNSON& JOHNSON INI 60,000 "6.2400 14,400.00 TOTAL $49,225.00 INTEREST DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE (") DEBIT AMOUNT CREDIT AMOUNT 06/23/03 INTEREST ONCREDIT BALANCE 0.7500 887.00 AT 0 3/4% 05/21 THRU 06/20 TOTAL $887.00 \ (sto ) ****** End of Statement*™***** 027 (06/28/03;12:00 001 May 30, 2003 EFTA00197822

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS ACCOUNT EXECUTIVE GREENBERG,ALAN C. TELEPHONE VISIT OUR WEBSITE What’s In This Statement www.bearstearns.com Financial Summary , . 38 Your Portfolio Holdings . . 4 Transaction Detail .....sscssseenees 5D Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD 17,966,723 Cash & Equivalent NET CREDIT BALANCE 2,032,811 Equities MONEY MARKET FUND BALANCE 678,349 _ a NET EQUITY LAST STATEMENT 20,039,818 CHANGE SINCE LAST STATEMENT 638,065 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. Ploase mport any difference cr nom-roceigt of checks or stocks, indicated as dalivered to you, %© Client Senices at 800-634-1428; or write to Clem Services at Bear, Steams Securities Corp. Brootiyn, N.Y. 11201-3859, INSTITUTIONAL INTERESTS A/C #2 C/O FINANCIAL TRUST COMPANY ATTN LARRY KEMP . 6100 RED HOOK QUARTER SUITE B-3 ST THOMAS VI 00802 Market Value of Your Portfolio $2,711,160 $1,787,209 || Current market value $888 Last statement's market value This summary is for informational purposes only. It Is not intended as a tax document $17,966,723 $18,252,609 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 1 Stage vities Cov INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOO April 26,2003 May 30, 2003 account numccr TAXPAYER NUMBER On File April 25, 2003 THROUGH LAST STATEMENT ‘This statemem should be retained for your records. See reverse side for important information 027 (06/31/03;15:20 001 Weds EFTA00197823

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2 of6 STATEMENT BACKER IS PRINTED ON THIS PAGE 08/31/03;15:30 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Boar, Steams Secuities Coy INSTITUTIONAL INTERESTS A/C #2 veda EFTA00197824

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS 3 of 6 Cash Flow Analysis THIS PERIOD OpeningBalance $1,109,497.23 Securities Sold 905,095.79 Money Fund 637.10 Dividends/ Interest 18,217.98 Amount Credited Money Fund -637.10 $923,950.87 Net Cash Activity 923,313.77 Closing Balance $2,032,811.00 Cash Balance Summary OPENING CLOSING Cash 1,109,497.23 2,032.811.00 Net Cash Balance $2,032,811.00 $1,109,497.23 Income Summary THS PERIOD YEAR TO DATE Dividends 17,802.10 95,998.79 Credit Balance Int. 1,052.98 5,203.21 Portfolio Composition Cash/Cash Equivalent 2,711,160 Equities 17,966,723 027 06/31/03;15:20 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Stags Securities ol INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD April 26,2003 THROUGH May 30, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT April 25, 2003 Your Portfolio Allocation Cash & Equivalent 14% — Equities 86% Unshaded portions denote debt balance andicr short market values. The alocation percentage is derived from the absohte market value of your portioiio. Weds EFTA00197825

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BEAR STEARNS 4 of6 OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. Your Portfolio Holdings CASH & CASH EQUIVALENTS MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (%) CASH BALANCE 2,032,811 BEAR STEARNS PRIME MONEY BSMXX 678,348.86 1.0000 678,349 7,462 1.1000 MARKET PORTFOLIO CL Y DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $2,711,160 $7,462 EQUITIES Equities & Options ACT MARKET ESTIMATED (QURRENT DESCRIPTION SYMBOU'CUSIP TYPE QUANTITY PRE VALUE ANNUAL INCOME YELD (%) AOL TIME WARNER INC AOL CASH 15.2200 ‘1,522,000 AMERICAN INTERNATIONAL GROUP AIG CASH 57.8800 1.447.000 INC se soma ee om ma CITIGROUP INC CASH 41.0200 1.122.923 21.900 1.9503 INTERNATIONAL BUSINESS “aM ‘ ‘ ee"88.0400 1.760.800. {2.800 0.7269 MACHINES CORP JOHNSONS JOHNSON JNJ 54.3500 3.261.000 57.600 1.7663 PROCTER & GAMBLE CO PG CASH 25,000 91.8200 2,295,500 41,000 1.7861 Total Equities& Options $17,966,723 $292,300 TOTAL EQUITIES $17,966,723 $292,300 oz? 08/31/03;15:30 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 0 xn) ri o INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD April 26,2003 May 30, 2003 account numccr (S TAXPAYER NUMBER On File April 25, 2003 THROUGH LAST STATEMENT Weds EFTA00197826

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 5 of6 STATEMENT PERIOD April 26,2003 THROUGH May 30, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT April 25, 2003 Your Portfolio Holdings (continued) YOUR TOTAL ESTIMATED ANNUAL INCOME $299,762 YOUR PRICED PORTFOLIOHOLDINGS $20,677,883 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT — TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBT AMOUNT GREDIT_AMOUNT 05/02/03 04/29/03 SOLD GOLDMAN SACHS GROUP INC Gs -12,000 75.84430 905,095.79 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER TOTAL $905,095.79 MONEY FUND ACTIVITY DATE MO/DAY TRANSACTION DESCAIPTION SYMBOUCUSIP QUANTITY PRICE DEBIT AMOUNT CAEDIT AMOUNT 04/26/03 OPENINGBALANCE 677,711.76 MARKET PORTFOLIO CL Y RECORD 04/30/03 PAY 04/30/03 027 06/31/03;15:20 001 Weds EFTA00197827

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 6 of6 STATEMENT PERIOD April 26,2003 THROUGH May 30, 2003 Transaction Detail (continued) acco xumccr TAXPAYER NUMBER On File MONEY FUND ACTIVITY (continued) LAST STATEMENT — April 25, 2003 DATE MO'DAY TRANSACTION DESCRIPTION SYMBOUCUSIP QUANTITY PRICE OEBIT AMOUNT CREDIT AMOUNT 05/01/03 REINVEST PRA STEARNS FRIME, MONEY BSMXX 637.10 637.10 REINVEST PRICE $ 1,00 05/30/03 CLOSINGBALANCE 678.348.86 TOTAL $-637.10 $637.10 DIVIDENDS DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE ($) DEBIT AMOUNT CREDIT AMOUNT 05/15/03 PROCTER & GAMBLE CO PG 25,000 0.4100 10,250.00 (03 PAY 05/15/03 7.375 2000 TOTAL $17,165.00 INTEREST DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE (%) DEBIT AMOUNT CREDIT AMOUNT 05/21/03 INTEREST ONCREDIT BALANCE 0.7500 1,052.98 AT 0 3/4% 04/21 THRU 05/20 TOTAL $1,052.98 027 (06/31/03;18:20 001 veda EFTA00197828

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Sor or se a sTARNS —— |_ a ACCOUNT EXECUTIVE GAREENBERG,ALAN C. TELEPHONE VISIT OUR WEBSITE www.bearstearns.com What’s In This Statement Financial Summary , : Your Portfolio Holdings . . Transaction Detail ......s.sessesseresseesrees 3 4 5 6 Your Portfolio at a Glance INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD March 29, 2003 THROUGH April 25, 2003 account numecr (S Wesallsselselalbsssalil TAXPAYER NUMBER On File INSTITUTIONAL INTERESTS AIC #2 cast aTaTeMeNT = Much 28, 2005 C/O FINANCIAL TRUST COMPANY ATTN LARRY KEMP . 6100 RED HOOK QUARTER SUITE B-3 ST THOMAS VI 00802 Market Value of Your Portfolio , $1,787,209 TOTAL VALUE OF SECURITIES THIS PERIOD = © 18,252,609 Cash & Equivalent $1,620,743 NET CREDIT BALANCE 1,109,497 Emaies $18,252,609 MONEY MARKET FUND BALANCE 677,712 $17,566,061 ane HB Current market value NET EQUITY THIS PERIOD $20,039,818 secenecccucccnesceeeeeeesnencvnccocoe sic eeeeenseenconsooooiesceeeeeeennnny SEBB] Last statements market value NET EQUITY LAST STATEMENT 19,186,804 CHANGE SINCE LAST STATEMENT 853,014 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. Please report any diterence cr nomroceipt of checks or stocks, indicated as dalverad to you, ‘This summary is for informational purposes only. It is mot intended as a tax documert % Client Senices at 800-634-1428; or write to Clem Services at Bear, Steams Securities This statemem should be retained for your records See reverse side for important mformation Corp. Brootiyn, N.Y. 11201-3859, oo? 04/26/03;12:12 001 v643 EFTA00197829

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STATEMENT BACKER IS PRINTED ON THIS PAGE 04/26/03;12:12 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Boar, Steams Secuities Coy INSTITUTIONAL INTERESTS A/C #2 EFTA00197830

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BEAR STEARNS 3 of? Cash Flow Analysis OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. Income Summary Tis PERIOD THiS PERIOD YEAR TO DATE OpeningBalance $943,713.80 Dividends 7,882.95 78,196.69 eeseecseeosses ee. | sosteecasesssonseccsees ss soseesesosseossesseense+s seceeoseee Credit Balance Int. 476.74 4,150.23 Securities Sold 897,057.20 04 seenseasecenseessenseesse + auessnesseceneecscontecss oe onanenenessss ween Money Fund 682.95 a Dividends/ Interest 7,676.74 Amount Credited $905.416.89 . _ ” Portfolio Composition Securities Bought -738,950.51 Cash/Cash Equivalent 1,787,209 Money Fund -682.95 Equities 18,252,609 Amount Debited $-739,633.46 1000 anuMeuneeenneeenneen | 00 euneeONNONEONNOENONNE 11) eeMuERNEENEONEONEOEEE tT ane seeeennennenee nes (anenauaauanenssssanuaneuneuneanensannn sess a yeeeee Total $20,039,818 Net Cash Activity 165,783.43 Cash Balance Summary Cash 943,713.80 Net Cash Balance $943,713.80 CLOSING 1,109,497.23 $1,109.497.23 027 (04/26/03;12:12 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Stags Securities ol INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD March 29, 2003 THROUGH April 25, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT March 28, 2003 Your Portfolio Allocation Cash & Equivalent — 8% — Equities 92% Unshaded portions denote debt balance andicr short market values. The alocation percentage is derived from the absohte market value of your portioiio. v643 EFTA00197831

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. 0 xn) ri o STEARNS INSTITUTIONAL INTERESTS A/C #2 aor STATEMENT PERIOO March 29, 2003 THROUGH April 25, 2003 Your Portfolio Holdings ——— TAXPAYER NUMBER On File CASH & CASH EQUIVALENTS LAST STATEMENT March 28, 2003 NAABKET ESTIMATED — CURRENT DESCRETION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME —_YELD (%} CASH BALANCE 1,109,497 BEAR STEARNS PRIME MONEY BSMXX 677,711.76 1.0000 677,712 7,658 1.1300 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $1,787,209 $7,658 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TYPE QUANTITY PRICE VALUE ANNUAL INCOME YIELD |) AOL TIME WARNER INC AQL CASH 13.3200 1,332,000 INC CITIGROUP’ INC C CASH 27.375. 38.4500 1.052.569 21.900 2.0806 83.8800 MACHINES CORP PROCTER & GAMBLE CO PG CASH 25,000 89.1400 2,228,500 41,000 1.8398 Total Equities& Options $18,252,609 $296,760 TOTAL EQUITIES $18,252,609 $296,760 02? 04/2603;12:12 001 643 EFTA00197832

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD March 29, 2003 THROUGH April 25, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT March 28, 2003 Your Portfolio Holdings (continued) YOUR TOTAL ESTIMATED ANNUAL INCOME $304,418 YOUR PRICED PORTFOLIOHOLDINGS $20,039,818 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 04/04/03 04/01/03 BOUGHT JOHNSONS JOHNSON JNJ 10,000 58.23000 585,688.58 DISCRETIONARY ORDER " a8 15.19000 59,796.51 DISCRETIONARY ORDER PART OF 10000 SHR 15.18000 93,465.42 DISCRETIONARY ORDER PART OF 10000 SHR Sn) R00: ||: AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER INC-CL B VIAB -8,325 39.75470 328,774.04 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER 1 RRR” © | rrr 1-3 -5,550 440 4/15/03 027 (04/26/03;12:12 001 v643 EFTA00197833

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. inc. STEARNS 6 of? Transaction Detail (continued) INVESTMENT ACTIVITY (continued) SETTLEMENT TRADE CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Steams Securities ol INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD March 29, 2003 THROUGH April 25, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT March 28, 2003 DATE DATE TRANSACTION DESCRIPTION QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 04/16/03 04/11/03 SOLD VIACOM INC-CL B -8,325 41.16230 340,437.76 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER TOTAL $-738,950.51 $897,057.20 MONEY FUND ACTIVITY DATE MOvDAY TRANSACTION DESCAIPTION PRICE DEBIT AMOUNT CAEDIT AMOUNT OPENINGBALANCE 677,028.81 RECORD 03/31/03 PAY 03/31/03 MARKET PORTFOLIO CL Y Ri T PRI 04/25/03 CLOSINGBALANCE 677,711.76 TOTAL $-682.95 $682.95 DIVIDENDS DATE DESCRIPTION SYMBOUCUSIF RATE (8) DEBIT AMOUNT CREDIT AMOUNT 04/01/03 MBNA CORP KAB 0.0800 7,200.00 REC 03/15/03 PAY 04/01/03 TOTAL $7,200.00 oz? 04/26103;12:12 001 64a EFTA00197834

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CLEARED THR! WHOLLY OWNE OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Steams & Co. Inc. STEARNS 7 of? INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOO March 29, 2003 THROUGH April 25, 2003 Transaction Detail (continued) account numccr [ED TAXPAYER NUMBER On File INTEREST LAST STATEMENT March 28, 2003 DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE [%) DEBIT AMOUNT CREDIT AMOUNT 04/21/03 INTEREST ONCREDIT BALANCE 0.7500 476.74 AT 0 3/4% 03/21 THRU 04/20 TOTAL $476.74 [stop] ****** End of Statement™***** 027 (04/26/03;12:12 001 v64a EFTA00197835

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. STEARNS ACCOUNT EXECUTIVE GREENBERG,ALAN C. TELEPHONE VISIT OUR WEBSITE www.bearstearns.com What’s In This Statement Financial Summary , : Your Portfolio Holdings . . Transaction Detail ......sssessseseresseeerees Fund Activity ssscssssssossesssasscnsceseasseeseessane YOUr MESSAGES 0... seesesseeessseeseeseeececensens nN oOo & w Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD 17,566,061 Cash & Equivalent NET CREDIT BALANCE 943,714 MONEY MARKET FUND BALANCE 677,029 TT NET EQUITY LAST STATEMENT 18,308,773 CHANGE SINCE LAST STATEMENT 878,030 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. Ploase mport any difference cr nom-roceigt of checks or stocks, indicated as dalivered to yeu, %© Client Senices at 800-634-1428; cr write to Clem Services at Bear, Steams Securities Corp. Brootiyn, N.Y. 11201-3859, INSTITUTIONAL INTERESTS A/C #2 C/O FINANCIAL TRUST COMPANY ATTN LARRY KEMP . 6100 RED HOOK QUARTER SUITE B-3 ST THOMAS VI 00802 Market Value of Your Portfolio $1,620,743 $1,585,954 || Current market value S888 Last statements market value This summary is for informational purposes only. It Is not intended as a tax document CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 1 Stage vities Cov INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD March 1,2003 THROUGH March 28, 2003 account numccr TAXPAYER NUMBER On File LAST STATEMENT February 28, 2003 ‘This statemem should be retained for your records. See reverse side for important information o27 04/2903;11:19 001 vé42 EFTA00197836

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STATEMENT BACKER IS PRINTED ON THIS PAGE 0a/2903;11:19 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Boar, Steams Secuities Coy INSTITUTIONAL INTERESTS A/C #2 EFTA00197837

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS 3 of? Cash Flow Analysis THIS PERIOD OpeningBalance $909,556.38 Money Fund 630.56 Dividends/interest 34,157.42 Amount Credited Money Fund Amount Debited 34,157.42 Closing Balance $943,713.80 Cash Balance Summary OPENING CLOSING Cash 909,556.38 943,713.80 Net Cash Balance $909,556.38 $943,713.80 Income Summary THiS PERIOD YEAR TO DATE Dividends 34,255.56 70,313.74 Credit Balance Int. 532.42 3,673.49 Total $34,787.98 Portfolio Composition Cash/Cash Equivalent 1,620,743 Equities 17,566,061 $19,186,804 027 (04/2903;11:19 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Stags Securities ol INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD March 1,2003 THROUGH March 28, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT February 28,2003 Your Portfolio Allocation Cash & Equivalent — 8% — Equities 92% Unshaded portions denote debt balance andicr short market values. The alocation percentage is derived from the absohte market value of your portioiio. W642 EFTA00197838

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS 47 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (X) CASH BALANCE 943,714 BEAR STEARNS PRIME MONEY BSMXX 677,028.81 1.0000 677,029 7,921 1.1700 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $1,620,743 $7,921 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TYPE QUANTITY PRICE VALUE ANNUAL INCOME YIELD |) AOL TIME WARNER INC AQL CASH 11.3500 1,135,000 AMERICAN INTERNATIONAL GROUP AIG CASH 49.8500 1,246,250 4,700 0.3771 INC 76,800 21,900 68.5800 2.057.400 35.4200 969.623 BANK OF AMER CORP BAC CITIGROUP INC CASH 3.7329 2.3586 30,000 27.375. MACHINES CORP 027 (04/2903;11:19 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 0 xn) ri o INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD March 1,2003 March 28, 2003 account numccr (S TAXPAYER NUMBER On File February 28.2003 THROUGH LAST STATEMENT W642 EFTA00197839

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 5 of? STATEMENT PERIOD March 1,2003 THROUGH March 28, 2003 Your Portfolio Holdings (continued) ————— TAXPAYER NUMBER On File LAST STATEMENT February 28,2003 Equities & Options (continued) act NAARKET ESTIMATED CURRENT M7 ! DESCRIPTION SYMBOLCUSIP QUANTITY PRICE VALUE __ ANNUAL INCOME YELD (%) VIACOM INC-CL B VIAB CASH 22,200 37.6900 836,718 Total Equities& Options $17,566,061 $276,960 TOTAL EQUITIES $17,566,061 $276,960 YOUR TOTAL ESTIMATED ANNUAL INCOME $284,881 YOUR PRICED PORTFOLIOHOLDINGS $19,186,804 Transaction Detail MONEY FUND ACTIVITY DATE MOIDAY TRANSACTION DESCAIFTION SYMBOLOUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 03/01/03 OPENINGBALANCE 676,398.25 03/03/03 DIVIDEND BEAR STEARNS PRIME MONEY BSMXXx 630.56 MARKET PORTFOLIO CL Y RECORD 02/28/03 PAY 02/28/03 MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00 03/28/03 CLOSINGBALANCE 677,028.81 TOTAL $-630.56 $630.56 027 (04/2903;11:19 001 W642 EFTA00197840

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. «ou, sta sues STEARNS a. INSTITUTIONAL INTERESTS A/C #2 6 of? STATEMENT PERIOD March 1,2003 THROUGH Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER DIVIDENDS LAST STATEMENT DATE CESCRIPTION SYMBOUCUSIP QUANTITY RATE ($) OEBIT AMOUNT CREDIT AMOUNT 03/10/03 INTERNATIONAL BUSINESS IBM 20,000 ~—-0.1500 3,000.00 MACHINES CORP REC 02/10/03 PAY 03/10/03 TSS OUNSONE JOHNSON REC 02/18/03 PAY 03/11/03 03 AMERICAN INTERNATIONAL GROUP” INC REC 03/07/03 PAY 03/21/03 1635000 8/03 BANK OF AMER CORP 19,200.00 REC 03/07/03 PAY 03/28/03 TOTAL $33,625.00 INTEREST DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) DEBIT AMOUNT CAEDIT AMOUNT 03/21/03 INTEREST ON CREDIT BALANCE 0.7500 532.42 AT 0 3/4% 02/21 THRU 03/20 TOTAL $532.42 027 0a/29903;11:19 001 v642 March 28, 2003 On File February 28.2003 EFTA00197841

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OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. STEARNS 7 ot? Your messages ie Bear, Stearns Securities Corp, Net Capital and Net Capital Requirements: At November 30, 2002 and January 31, 2003, the Company's net capital of approximately $2.4 billion and $2.4 billion was approximately 7% and 7% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately $716.3 million and $684.1 million by approximately $1.7 billion and $1.7 billion, all respectively. A complete copy of the Bear, Stearns Securities Corp, Statement of Financial Condition is available on the web site www. bearstearns.com_. Alternatively, to request a free printed copy please call - toll free - 1-866-299-9331, (stor **eee* End of Statement****** VY CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 0 xn) i o INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD March 1, 2003 THROUGH March 28, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT February 28, 2003 ZS Pursuant to SEC Rule 11Ac1-6, please note the following: Bear Steams & Co, Inc, will post its quarterly routing statistics at the following web link: http://www,bearstearns ,com/, Customers of Bear, Stearns & Co, Inc, may request information on any order executed within the prior six months from the time of the request, Specifically, you may request the identity of the venue to which the identified orders were routed for execution, whether the order was directed by you to that venue, and the time of the executions, if any, that resulted from such orders, 027 (04/2903;11:19 001 W642 EFTA00197842

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS ACCOUNT EXECUTIVE GREENBERG,ALAN C. TELEPHONE VISIT OUR WEBSITE What’s In This Statement www.bearstearns.com Financial Summary , . 3 Your Portfolio Holdings . . 4 Transaction Detail .....usssseeenees 5 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD 16,722,819 Cash & Equivalent NET CREDIT BALANCE 909,556 Equities MONEY MARKET FUND BALANCE 676,398 NET EQUITY THIS PERIOD $18,308,773 NET EQUITY LAST STATEMENT 18,966,338 CHANGE SINCE LAST STATEMENT ~657,564 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. Ploase mport any difference cr nom-roceigt of checks or stocks, indicated as dallvered to you, %© Client Senices at 800-634-1428; cr write to Clem Services at Bear, Steams Securities Comp. Brooklyn, N.Y. 11201-9859. INSTITUTIONAL INTERESTS AIC #2 C/O FINANCIAL TRUST COMPANY ATTN LARRY KEMP . 6100 RED HOOK QUARTER SUITE B-3 ST THOMAS VI 00802 Market Value of Your Portfolio $1,585,954 $1,555,625 $16,722,819 $17,410,713 | | Current market value $238] Last statements market value This summary Is for informational purposes only. It Is not intended as a tax document CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Steams Securities vt INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD February 1,2003 February 28, 2003 account numccr TAXPAYER NUMBER On File THROUGH LAST STATEMENT January 31, 2003 Ths statemem should be retamed for your records See reverse side for important mformation. 027 03/01/03;13:32 001 ves1 EFTA00197843

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2 of6 STATEMENT BACKER IS PRINTED ON THIS PAGE 03/01/03;13:32 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Boar, Steams Secuities Coy INSTITUTIONAL INTERESTS A/C #2 EFTA00197844

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS 3 of 6 Cash Flow Analysis THIS PERIOD OpeningBalance $879,944.72 Money Fund 718.18 Dividends/interest 29,611.66 Amount Credited Money Fund -718.18 Amount Debited $-718.18 Closing Balance $909,556.38 Cash Balance Summary OPENING CLOSING Cash 879,944.72 909,556.38 Net Cash Balance $879,944.72 $909,556.38 Income Summary THiS PERIOD YEAR TO DATE Dividends 29,758.18 36,058.18 Credit Balance Int. 571.66 3,141.07 Total $39,199.25 Portfolio Composition Cash/Cash Equivalent 1,585,954 Equities 16,722,819 $18,308,773 027 03/01/03;13:32 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Stags Securities ol INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOO February 1,2003 THROUGH February 28, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT January 31, 2003 Your Portfolio Allocation Cash & Equivalent—, 8% — Equities 92% Unshaded portions denote debt balance andicr short market values. The alocation percentage is derived from the absohte market value of your portioiio. ves1 EFTA00197845

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS 4 of6 Your Portfolio Holdings CASH & CASH EQUIVALENTS NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (X) CASH BALANCE 909,556 BEAR STEARNS PRIME MONEY BSMXX 676,398.25 1.0000 676,398 8,184 1.2099 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $1,585,954 $8,184 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TYPE QUANTITY PRICE VALUE ANNUAL INCOME YIELD |) AOL TIME WARNER INC AQL CASH 11.3200 1,132,000 AMERICAN INTERNATIONAL GROUP AIG CASH 49.2900 1,232,250 4,700 0.3814 INC SACS EST SESS SSS UNS SSS ESS CITIGROUP INC CASH 27,375 33.3400 912.683 21,900 2.3995 MACHINES CORP 027 03/01/03;13:32 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 0 xn) ri o INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD February 1, 2003 February 28,2003 account numccr (S TAXPAYER NUMBER On File January 31, 2003 THROUGH LAST STATEMENT ves1 EFTA00197846

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Stearns & Co- inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 a STATEMENT PERIOO February 1,2003 THROUGH February 28, 2003 Your Portfolio Holdings (continued) row: TAXPAYER NUMBER On File LAST STATEMENT January 31, 2003 Equities & Options (continued) ACCT NANRKET ESTIMATED CURRENT DESCRETION SYMBOLICUSIP MY QUANTITY PRICE VALUE __ ANNUAL INCOME YELD (%) VIACOM INC-CL B VIAB CASH 22,200 37.1300 824,286 Total Equities& Options $16,722,819 $276,960 TOTAL EQUITIES $16,722,819 $276,960 YOUR TOTAL ESTIMATED ANNUAL INCOME $285,144 YOUR PRICED PORTFOLIOHOLDINGS $18,308,773 Transaction Detail MONEY FUND ACTIVITY DATE MOIDAY TRANSACTION DESCAIFTION SYMBOLOUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 02/01/03 OPENINGBALANCE 675,680.07 02/03/03 DIVIDEND BEAR STEARNS PRIME MONEY BSMXXx 718.18 MARKET PORTFOLIO CL Y RECORD 01/31/03 PAY 01/31/03 MARKET PORTFOLIO CL Y REINVEST PRICE $ 1.00 02/28/03 CLOSINGBALANCE 676,398.25 TOTAL $-718.18 $718.18 027 03/01/03;13:32 001 ves1 EFTA00197847

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 6 of6 STATEMENT PERIOO February 1,2003 THROUGH February 28, 2003 Transaction Detail (continued) acco xumccr TAXPAYER NUMBER On File DIVIDENDS LAST STATEMENT — January 31, 2003 DATE DESCRIPTION SYMBOUOUSIF QUANTITY RATE (8) DEBIT AMOUNT CREDIT AMOUNT 02/03/03 TYCO INTERNATIONAL LTD TY 50,000 0.0125 625.00 REC 01/02/03 PAY 02/03/03 REC 01/17/03 PAY 02/14/03 REC 01/24/03 PAY 02/14/03 2,000 “1300 CITIGROUP INC c 27,375 0.2000 5,475.00 REC 02/03/03 PAY 02/28/03 TOTAL $29,040.00 INTEREST DATE DESCRIPTION SYMBOUCUSIP QUANTITY RATE (%) DEBIT AMOUNT CREDIT AMOUNT 02/21/03 INTEREST ONCREDIT BALANCE 0.7500 571.66 AT 0 3/4% 01/21 THRU 02/20 TOTAL $571.66 [stop] **e*** End of Statement*™***** 027 03/01/03;13:32 001 v641 EFTA00197848

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS ACCOUNT EXECUTIVE GREENBERG,ALAN C. TELEPHONE VISIT OUR WEBSITE www.bearstearns.com What’s In This Statement Financial Summary , : Your Portfolio Holdings . . Transaction Detail ......s.ssssssessseresseesrees Fund Activity sssessesssessesssasscnseeseansneceessans YOUr M@SSAQES .....seesesseessseeseeeeeececensens NOOO se © Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD =17,410,713 ash & Equivalent NET CREDIT BALANCE 879,945 Saul quities MONEY MARKET FUND BALANCE 675,680 NET EQUITY THIS PERIOD $18,966,33 NET EQUITY LAST STATEMENT 19,529,785 CHANGE SINCE LAST STATEMENT 563,447 There are no “Stop Loss’ orders or other pending buy or sell open orders on file for your account. Ploase mport any difference cr nom-roceigt of checks or stocks, indicated as dallvered to you, © Client Senices at 800-634-1428; or write to Clem Services at Bear, Steams Securities Corp. Brootiyn, N.Y. 11201-3859, INSTITUTIONAL INTERESTS A/C #2 C/O FINANCIAL TRUST COMPANY ATTN LARRY KEMP . 6100 RED HOOK QUARTER SUITE B-3 ST THOMAS Vi 00802 Market Value of Your Portfolio $1,555,625 $1,413.487 fie2] Current market value ERB] Last statements market value This summary is for informational purposes only. It Is not intended as a tax document CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 1 Stag vities Cow INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD January 1, 2003 THROUGH January 31,2003 account numecr TAXPAYER NUMBER On File LAST STATEMENT December 31, 2002 ‘This statemem should be retained for your records. See reverse side for important information 027 02101/03;18:36 001 vé40 EFTA00197849

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STATEMENT BACKER IS PRINTED ON THIS PAGE 02/01/03;18:38 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Boar, Steams Secuities Coy INSTITUTIONAL INTERESTS A/C #2 EFTA00197850

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BEAR OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. STEARNS 3 of? Cash Flow Analysis OpeningBalance THIS PERIOD $738,561.03 Securities Sold 846,629.35 Money Fund 753.62 Dividends/ Interest 8,869.41 Amount Credited $856,252.38 Securities Bought -714,115.07 Money Fund -753.62 Amount Debited $-714,868.69 Net Cash Activity 141,383.69 Cash Balance Summary Cash Net Cash Bal: OPENING CLOSING 738,561.03 879,944.72 $738,561.03 Income Summary THiS PERIOD YEAR TO DATE Dividends 6,300.00 6,300.00 Credit Balance Int. 2,569.41 2,569.41 Total Portfolio Composition Cash/Cash Equivalent 1,555,625 17,410,713 Equities $18,966,338 027 02101/03;18:36 001 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Stags Securities ol INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOO January 1, 2003 THROUGH January 31,2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT December 31,2002 Your Portfolio Allocation Cash & Equivalent—, 8% — Equities 92% Unshaded portions denote debt balance andicr short market values. The alocation percentage is derived from the absohte market value of your portioiio. ves0 EFTA00197851

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS 47 Your Portfolio Holdings CASH & CASH EQUIVALENTS CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 0 xn) ri o INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOD January 1, 2003 THROUGH January 31, 2003 account numccr (S TAXPAYER NUMBER On File LAST STATEMENT December 31, 2002 NAARKET ESTIMATED (QURRENT DESCRIPTION SYMBOLICUSIP QUANTITY PRICE VALUE ANNUAL INCOME YELD (X) CASH BALANCE 879,945 BEAR STEARNS PRIME MONEY BSMXX 675,680.07 1.0000 675,680 8,311 1.2300 MARKET PORTFOLIO CL ¥ DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $1,555,625 $8,311 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TYPE QUANTITY PRICE VALUE ANNUAL INCOME YIELD |) AOL TIME WARNER INC AQL CASH 11.6600 1,166,000 AMERICAN INTERNATIONAL GROUP AIG CASH 54.1200 1,353,000 4,700 0.3474 INC SCS SS TS SESS TST UNS SSUES CITIGROUP’ INC C CASH MACHINES CORP 27.375. 34.3800 941.153 21.900 2.3269 027 02101/03;18:36 001 vé40 EFTA00197852

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. Bear Steams Securities Coy STEARNS — INSTITUTIONAL INTERESTS A/C #2 5 of? STATEMENT PERIOO January 1, 2003 THROUGH January 31,2003 Your Portfolio Holdings (continued) ————— TAXPAYER NUMBER On File LAST STATEMENT December 31,2002 Equities & Options (continued) ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYMBOUCUSIP TYRE QUANTITY PRICE VALUE ANNUAL INCOME YELD (%) VIACOM INC-CLB VIAB CASH 22,200 38.5500 855.810 Total Equities& Options $17,410,713 $276,960 TOTAL EQUITIES $17,410,713 $276,960 YOUR TOTAL ESTIMATED ANNUAL INCOME $285,271 YOUR PRICED PORTFOLIOHOLDINGS $18,966,338 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT GREDIT AMOUNT 01/06/03 12/31/02 SOLD TYCO INTERNATIONAL LTD TYC -12,500 17.01650 211,449.84 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER TYCO INTERNATIONAL LTD AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER -15090 oer “ST SBB RG emenmennennese amnesia, 027 02101/03;18:36 001 vé40 EFTA00197853

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BEAR Bear, Stearns & Co. Inc. oss apsanin on STEARNS | INSTITUTIONAL INTERESTS A/C #2 6 of? STATEMENT PERIOD January 1, 2003 THROUGH January 31, 2003 Transaction Detail (continued) TAXPAYER NUMBER On File account numccr (S INVESTMENT ACTIVITY (continued) LAST STATEMENT December 31, 2002 SETTLEMENT TRADE DATE OATE TRANSACTION DESCRIPTION SYMBOLICUSIP QUANTITY PRICE DEBIT AMOUNT CREDIT AMOUNT 01/10/03 01/07/03 BOUGHT AOL TIME WARNER INC AOL 50,000 14.16000 714,115.07 AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER TOTAL $-714,115.07 $846,629.35 MONEY FUND ACTIVITY DATE MOvDAY TRANSACTION DESCAIPTION SYMBOUCUSIP QUANTITY PRICE DEBIT AMOUNT CAEDIT AMOUNT 01/01/03 OPENINGBALANCE 674,926.45 REINVEST PRICE $ 1,00 MARKET PORTFOLIO CL Y RECORD 12/31/02 PAY 12/31/02 INCLUDED IN 2002 1099 ora” 01/31/03 CLOSINGBALANCE 675,680.07 TOTAL $-753.62 $753.62 DIVIDENDS DATE DESCRIPTION SYMBOUUSIF QUANTITY RATE (8) DEBIT AMOUNT CREDIT AMOUNT 01/02/03 MBNA CORP KAB 90,000 0.0700 6,300.00 REC 12/13/02 PAY 01/01/03 TOTAL $6,300.00 oz? 02101/03;15:36 001 veso EFTA00197854

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OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co- inc. BEAR STEARNS 7 of? Transaction Detail (continued) CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear Stags Securities vl INSTITUTIONAL INTERESTS A/C #2 STATEMENT PERIOO January 1, 2003 January 31, 2003 On File THROUGH ACCOUNT NUMBER TAXPAYER NUMBER INTEREST LAST STATEMENT © December 31, 2002 DATE DESCRIPTION SYMBOUCUSIF QUANTITY RATE [%) DEBIT AMOUNT CREDIT AMOUNT 01/08/03 ADJCAINT 6/21/02 -12/20/02 1,999.69 TOC 11 AT O 1/8% 12/21 THRU 12/30 AT 0 3/4% 12/31 THRU 01/20 01/22/03 ADJCA INT 12/21-12/30/02 126.20 TO 3/4% TOTAL $2,569.41 Your messages TZ The interest, if any, charged to your account during December 2002 was computed on the net debit balance through December 30, The interest, if any, charged to your account during January 2003 is computed from December 31, 2002, / [stop] **e*** End of Statement™** 027 02101/03;15:36 001 ve40 EFTA00197855