BEAR STEARNS¶
What’s In This Statement¶
| Financial Summary | 3 |
| Your Portfolio Holdings | 4 |
| Transaction Detail | 6 |
| Fund Activity | 6 |
$$^3 008021348239$$¶
JEFFREY EPSTEIN¶
C/O FINANCIAL TRUST COMPANY¶
ATTN JEANNE BRENAN¶
ST THOMAS VI 00802-1348¶
There are no “Stop Loss” orders or other pending buy or sell open orders on file for your account.¶
Your Portfolio at a Glance¶
| TOTAL VALUE OF SECURITIES THIS PERIOD | 4,583,830 |
| MONEY MARKET FUND BALANCE | 12,451,687 |
| NET EQUITY THIS PERIOD | $17,035,517 |
| NET EQUITY LAST STATEMENT | 9,084,654 |
| CHANGE SINCE LAST STATEMENT | 7,950,863 |
LAST STATEMENT July 31, 2006¶
JEFFREY EPSTEIN¶
| STATEMENT PERIOD | August 1, 2006 |
| THROUGH | August 31, 2006 |
Please report any difference or non-receipt of checks or stocks, indicated as delivered to you, to Client Services at 800-634-1428; or write to Client Services at Bear, Stearns Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3859¶
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.¶
Confidential Treatment Requested by JPMorgan Chase¶
09/01/06:07:58 001¶
JPM-SDNY-00056473 EFTA00065502¶
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GUIDE TO YOUR STATEMENT¶
Your statement may contain the following sections.¶
Your Portfolio at a Glance: Reflects the net equity of your account at the close of the statement period, the net equity of your last statement and any change since the last statement.¶
Market Value of Your Portfolio: A graph reflecting the change in the market value of your account portfolio from the market value reflected on your last statement (Cash/Cash Equivalent, Equities, Mutual Funds, Fixed Income, Other).¶
Cash Flow Analysis and Cash Balance¶
Summary: Both show your opening and closing balances.¶
Cash Flow Analysis reflects the categories of cash activity. Cash Balance Summary reflects the cash balances by account type. Opening Balance is the credit or debit carried over from the previous period’s closing balance. Closing balance is the combination of the total debits and credits for the statement period together with the opening cash balance. A debit balance (money you owe us) is indicated by a minus sign in these sections.¶
Income Summary: Reflects the total dividend, interest and other income amounts for the statement period and year to date. Any tax withheld, margin interest and miscellaneous charges are included here if applicable.¶
CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶
Distribution Summary: Reflects returns on capital, liquidations, and other income for the statement period and current year.¶
Retirement Plan: Reflects the contributions received and distributions paid during this statement period as well as for the previous year.¶
Your Portfolio Allocation: A pie chart defining your asset allocations (Cash/Cash Equivalent, Equities, Mutual Funds, Fixed Income, Other).¶
Portfolio Composition: Reflects a summary of cash/cash equivalent, equities, mutual funds, and fixed income for the statement period.¶
Bonds with 60 – Day Horizon: Reflects bonds that will mature or are subject to redemption within the next 60 days.¶
Your Portfolio Holdings: Reflects cash and all securities in your account. Estimated annual income is based on the dividend or income expected to be received annually. Accrued interest represents interest earned but not yet paid or collected on fixed income securities since the last coupon date. There is no guarantee that this interest will be paid by the issuer. Current yield is calculated by dividing the estimated annual income by the market value of the securities and represents an estimated current yield only.¶
Market Prices/Bond Ratings.¶
The market value of your holdings are as of the last business¶
day of the statement period. Prices for determining market values represent estimates. These estimates are obtained from multiple sources, including Bear Stearns, its affiliates and outside services. Pricing estimates may be based on bids, prices within the bidkoffer spread, closing prices or matrix methodology that uses data relating to other securities whose prices are more ascertainable to produce a hypothetical price based on the estimated yield spread relationship between the securities. Pricing estimates do not constitute bids for any securities. Actual prices realized at sale may be more or less than those shown on your statement. Bond ratings are received from outside sources. While we believe our sources for market values and bond ratings to be reliable, we cannot guarantee their accuracy.¶
The total cost basis for each security position and the unrealized gainloss are provided solely as a general indication of performance and should not be used for tax purposes or otherwise relied upon without the assistance of your tax advisor. With respect to security positions received into your account, cost basis information, if any, has been provided by you.¶
Cost basis information relating to securities positions consisting of more than twenty tax lots (purchases and re-investments) is displayed in the aggregate as one short term and one long term tax lot. Further information is available from your broker.¶
Cost basis information has been provided by you or by a third party on your behalf, and not by Bear Stearns.¶
Cost basis information relating to your mutual funds holdings, regardless of the number of tax lots, is displayed in the aggregate as one short term tax lot and one long term tax lot. Further information is available from your broker.¶
§ The original cost basis of this position has been adjusted to reflect amortization or accretion.¶
Transaction Detail: Reflects all transactions settling or processed for your account this statement period.¶
Trades Executed But Not Yet Settled: This section will reflect any trades not yet settled by the statement closing date. The settlement date is indicated in the first column.¶
Dividend Income: Dividends credited to your account may include capital gains, non-taxable dividends and/or dividends on foreign stock. You may wish to consult your tax advisor with regard to your tax liability on these dividend credits.¶
IMPORTANT_NOTES¶
Interest is charged on a day by day basis for any day that there is a net debt balance in your overall account. The calculation is made on a 360-day basis at the rate or rates shown on the statement. Interest rates may be changed from time to time with fluctuating money market rates or for other reasons.¶
Methods of Computing Interest on Debit Balances:¶
Customer free credit balances may be used in this firm’s business subject to the limitation of 17CFR Section 240.15c3-3 under the Securities Exchange Act of 1934. You have the right to receive from us in the course of normal business operation, upon demand, the delivery of:¶
JEFFREY EPSTEIN¶
b) any fully-paid securities to which you are entitled¶
a) any free credit balances to which you are entitled¶
Financial Statement: A financial statement of our firm is available for your personal inspection at our office, or a copy will be mailed to you upon written request.¶
Bearer Bonds: If any securities held by us for your account are bearer obligations which have been issued since December 31, 1982 with original maturities of more than one year, we agree that we will satisfy the conditions set forth in subdivisions (i), (ii) and (iii) of Treasury Regulation Section 1.165-12 (c) (3) and covenant that we will comply with the requirements of Treasury Regulation Section 1.165-12(c) (1) (iii) concerning the delivery of such bearer obligations.¶
Custody: Whether we are your broker or act as a clearing agent for your broker, we carry your account and act as your custodian for funds and securities, once received by us, which have been deposited directly with us through your broker or otherwise or as a result of transactions we process for your account. Inquiries concerning the positions and balances in your account may be directed to our Client Services Department at 347-643-2578. If your account is introduced by another broker, all other inquiries regarding your account and the activity therein should be directed to such broker.¶
c) any securities purchased on margin upon full payment of any indebtedness to us¶
If this is a margin account and we maintain a special memorandum account for you, this is a combined statement of your general account and special memorandum account maintained for you under Section 220.6 of Regulation T issued by the Board of Governors of the Federal Reserve System. The permanent record of this separate account, as required by Regulation T, is available for your inspection.¶
For Option Accounts: Further information with respect to commissions and other charges related to the execution of listed options transactions has been included on confirmations of such transactions previously furnished to you and such information will be made available to you promptly upon written request.¶
Reportable to the Internal Revenue Service: As required by law, at year end, we will report to you and to the internal Revenue Service and to certain states, certain information on sales (including short sales), dividends, and various types of interest that have been credited to your account.¶
PLEASE PROMPTLY NOTIFY YOUR ACCOUNT¶
EXECUTIVE IN WRITING OF ANY MATERIAL¶
CHANGES IN YOUR FINANCIAL¶
CIRCUMSTANCES OR INVESTMENT¶
OBJECTIVES.¶
Statement Frequency: Statements will be mailed to customers whose account has activity during the statement period affecting money balances and/or security positions. Delivery Versus Payment customers whose account has activity will receive statements on a quarterly basis that will reflect all activity during the quarter. All other customers will be sent statements at least four times a calendar year provided their account contains a money balance or security position.¶
Please promptly notify the office servicing your account in writing of any change of address. The office servicing your account can be found on page 1.¶
Information Available Upon Requests The date and time of the transaction and the name of the person from whom the security was purchased, or to whom it was sold will be furnished upon request.¶
Kindly include your account number(s) on all correspondence.¶
Bear, Stearns Securities Corp. (“BSSC”), a member of the Securities Investor Protection Corporation (“SIPC”),¶
provides account protection for the net equity of a customer’s funds and securities positions. SIPC provides $500,000 of primary net equity protection, including $100,000 for claims for cash (“SIPC Coverage”). Visit www.sipc.org for more information about SIPC Coverage. BSSC provides the additional protection (“Excess SIPC”) through Customer Asset Protection Company (“CAPCO”), a New York licensed 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 futures, options on futures, foreign exchange transactions, or any investment contracts that are not registered as securities.¶
The USA PATRIOT Act requires that all financial institutions obtain certain identification documents or other information in order to comply with their customer identification procedures. Until you provide the required information or documents, we may not be able to open or maintain an account or effect any transactions for you.¶
02/28/06¶
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Confidential Treatment Requested by JPMorgan Chase¶
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BEAR STEARNS¶
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Cash Flow Analysis¶
| THIS PERIOD | |
| Opening Balance | $63,052.55 |
| Money Fund | 5,025,467.24 |
| Funds Deposited | 12,749,804.62 |
| Dividends/Interest | 3,580.00 |
| Amount Credited | $17,778,851.86 |
| Money Fund | -12,841,904.41 |
| Funds Withdrawn | -5,000,000.00 |
| Amount Debited | $-17,841,904.41 |
| Net Cash Activity | -63,052.55 |
| Closing Balance | $0.00 |
Cash Balance Summary¶
| OPENING | CLOSING | |
| Cash | 63,052.55 | 0.00 |
| Net Cash Balance | $63,052.55 | $0.00 |
Income Summary¶
| THIS PERIOD | YEAR TO DATE | |
| Dividends | 31,147.24 | 111,712.85 |
| Total | $31,147.24 | $111,712.85 |
Portfolio Composition¶
| Cash/Cash Equivalent | 12,451,687 |
| Equities | 4,583,830 |
| Total | $17,035,517 |
027¶
| STATEMENT PERIOD | August 1,2006 |
| THROUGH | August 31,2006 |
| ACCOUNT NUMBER | |
| TAXPAYER NUMBER | On File |
| LAST STATEMENT | July 31,2006 |
Your Portfolio Allocation¶
Confidential Treatment Requested by JPMorgan Chase¶
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BEAR STEARNS¶
CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶
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Your Portfolio Holdings¶
CASH & CASH EQUIVALENTS¶
| DESCRIPTION | SYMBOL/CUSIP | QUANTITY | PRICE | MARKET VALUE | ESTIMATED ANNUAL INCOME | CURRENT YIELD (%) |
|---|---|---|---|---|---|---|
| DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST. 30 DAY AVG YIELD 5.2300% | DICXX | 12,451,687.04 | 1.0000 | 12,451,687 | 659,939 | 5.3000 |
| TOTAL CASH & CASH EQUIVALENTS | $12,451,687 | $659,939 | ||||
EQUITIES¶
Equities & Options¶
The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock’s total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: O = Outperform; P = Peer Perform; U = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available. The various providers use different ratings systems and have normalized them as follows: B = Buy; H = Hold; S = Sell (this may not always correspond directly to the underlying rating system used by each provider or BSC). The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal, or investment advice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol ~ indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third-party research on certain companies covered by the Firm’s research is available to customers of Bear Stearns at no cost. Customers can access this research at www.bearstearns.com or can call (800) 517-2327 to request that a copy of this research be sent to them.¶
STATEMENT PERIOD August 1, 2006¶
ACCOUNT NUMBER¶
LAST STATEMENT July 31, 2006¶
TAXPAYER NUMBER On File¶
JEFFREY EPSTEIN¶
THROUGH August 31, 2006¶
| DESCRIPTION | SYMBOL/CUSIP | ACCT TYPE | QUANTITY | PRICE | MARKET VALUE | ESTIMATED ANNUAL INCOME | CURRENT YIELD (%) |
|---|---|---|---|---|---|---|---|
| FELCOR LODGING TRUST INC | FCH | CASH | 2,000 | 21.4500 | 42,900 | 1,600 | 3.7296 |
| GLENBOROUGH REALTY TRUST INC BSC RATING: STOCK P/SECTOR MW NED DAVIS RESEARCH RATING: H | GLB | CASH | 2,000 | 25.8100 | 51,620 | 2,200 | 4.2619 |
| GLIMCHER REALTY TRUST-SBI | GRT | CASH | 2,000 | 24.4000 | 48,800 | 3,846 | 7.8811 |
| HRPT PROPERTIES TR-SBI | HRP | CASH | 10,000 | 11.6000 | 116,000 | 8,400 | 7.2414 |
Confidential Treatment Requested by JPMorgan Chase¶
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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶
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Your Portfolio Holdings (continued)¶
Equities & Options (continued)¶
| DESCRIPTION | SYMBOL/CUSIP | ACCT TYPE | QUANTITY | PRICE | MARKET VALUE | ESTIMATED ANNUAL INCOME | CURRENT YIELD (%) |
|---|---|---|---|---|---|---|---|
| HOSPITALITY PROPERTIES TRUST SBI | HPT | CASH | 2,000 | 46,3200 | 92,640 | 5,920 | 6.3903 |
| JOHNSON & JOHNSON BSC RATING: STOCK P/SECTOR MO NED DAVIS RESEARCH RATING: B | JNJ | CASH | 57,800 | 64,6600 | 3,737,348 | 86,700 | 2.3198 |
| WTS LUCENT TECHNOLOGIES INC EXP 12/10/2007 | LUTHW | CASH | 235 | 0.2350 | 55 | ||
| NAYARIT GOLD INC | NYRTF | CASH | 19 | 0.6870 | 13 | ||
| PAN PACIFIC RETAIL PROPERTIES INC | PNP | CASH | 436 | 69.8200 | 30,442 | 1,116 | 3.6660 |
| PENNSYLVANIA REAL ESTATE INVESTMENT TRUST-SBI | PEI | CASH | 1,794 | 42,3200 | 75,922 | 4,090 | 5.3871 |
| RAMCO GERSHENSON PROPERTIES TRUST-MD SBI | RPT | CASH | 12,000 | 32,0000 | 384,000 | 21,480 | 5.5938 |
| SIRIUS SATELLITE RADIO INC BSC RATING: STOCK Q/SECTOR MW ATLANTIS RESEARCH RATING: B | SIRI | CASH | 1,000 | 4,0900 | 4,090 | ||
| Total Equities & Options | $4,583,830 | $135,352 | |||||
| TOTAL EQUITIES | $4,583,830 | $135,352 |
| YOUR PORTFOLIO HOLDINGS ESTIMATED ANNUAL INCOME | $795,291 |
| YOUR PRICED PORTFOLIO HOLDINGS | $17,035,517 |
JEFFREY EPSTEIN¶
STATEMENT PERIOD August 1, 2006¶
THROUGH August 31, 2006¶
ACCOUNT NUMBER¶
TAXPAYER NUMBER On File¶
LAST STATEMENT July 31, 2006¶
Confidential Treatment Requested by JPMorgan Chase¶
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JPM-SDNY-00056477 EFTA00065506¶
BEAR STEARNS¶
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Transaction Detail¶
DEPOSITS AND WITHDRAWALS¶
| DATE | TRANSACTION | DESCRIPTION | DEBIT AMOUNT | CREDIT AMOUNT |
|---|---|---|---|---|
| 08/07/06 | FND WIRED | MDA# CT952700 FNDS WIRED TO JPMORGAN CHASE BANK, NA AC739-110438 C#275752 | 1,000,000.00 | |
| 08/11/06 | FND WIRED | MDA# CT955407 FNDS WIRED TO JPMORGAN CHASE BANK, NA AC739-110438 C#274527 | 2,000,000.00 | |
| 08/14/06 | FUNDS REC | FNDS WIRED TO CITIBANK FROM COMPASS BANK F0762260135101 | 12,749,804.62 | |
| 08/17/06 | FND WIRED | MDA# MB263725 FNDS WIRED TO JPMORGAN CHASE BANK, NA AC739-110438 FD#02332 | 1,000,000.00 | |
| 08/25/06 | FND WIRED | MDA# CT960504 FNDS WIRED TO JPMORGAN CHASE BANK, NA AC739-110438 C#283506 | 1,000,000.00 | |
| TOTAL | -5,000,000.00 | $12,749,804.62 | ||
CLEARED THROUGH ITS¶
WHOLLY OWNED SUBSIDIARY¶
MONEY FUND ACTIVITY¶
JEFFREY EPSTEIN¶
STATEMENT PERIOD August 1, 2006¶
ACCOUNT NUMBER¶
LAST STATEMENT July 31, 2006¶
TAXPAYER NUMBER On File¶
THROUGH August 31, 2006¶
| DATE MO/DAY | TRANSACTION | DESCRIPTION | SYMBOL/CUSIP | QUANTITY | PRICE | DEBIT AMOUNT | CREDIT AMOUNT |
|---|---|---|---|---|---|---|---|
| 08/01/06 | OPENING BALANCE | 4,607,682.63 | |||||
| 08/01/06 | BOUGHT | DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES | DICXX | 63,052.55 | 1.0000 | 63,052.55 | |
| 08/01/06 | DIVIDEND | DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES MONTHLY DIVIDEND | DICXX | 27,567.24 | |||
| 08/01/06 | REINVEST | DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVEST | DICXX | 27,567.24 | 27,567.24 |
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BEAR STEARNS¶
CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶
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JEFFREY EPSTEIN¶
Transaction Detail (continued)¶
MONEY FUND ACTIVITY (continued)¶
STATEMENT PERIOD August 1, 2006¶
THROUGH August 31, 2006¶
ACCOUNT NUMBER¶
TAXPAYER NUMBER On File¶
LAST STATEMENT July 31, 2006¶
| DATE MO/DAY | TRANSACTION | DESCRIPTION | SYMBOL/CUSIP | QUANTITY | PRICE | DEBIT AMOUNT | CREDIT AMOUNT |
|---|---|---|---|---|---|---|---|
| 08/07/06 | SOLD | DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES | DICXX | -1,000,000 | 1.0000 | 1,000,000.00 | |
| 08/11/06 | SOLD | DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES | DICXX | -2,000,000 | 1.0000 | 2,000,000.00 | |
| 08/15/06 | BOUGHT | DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES | DICXX | 12,749,804.62 | 1.0000 | 12,749,804.62 | |
| 08/17/06 | BOUGHT | DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES | DICXX | 1,480 | 1.0000 | 1,480.00 | |
| 08/17/06 | SOLD | DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES | DICXX | -1,000,000 | 1.0000 | 1,000,000.00 | |
| 08/25/06 | SOLD | DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES | DICXX | -997,900 | 1.0000 | 997,900.00 | |
| 08/31/06 | CLOSING BALANCE | 12,451,687.04 | |||||
| TOTAL | $-12,841,904.41 | $5,025,467.24 | |||||
DIVIDENDS¶
| DATE | DESCRIPTION | SYMBOL/CUSIP | QUANTITY | RATE ($) | DEBIT AMOUNT | CREDIT AMOUNT |
|---|---|---|---|---|---|---|
| 08/17/06 | HOSPITALITY PROPERTIES TRUST SBI REC 07/14/06 PAY 08/17/06 | HPT | 2,000 | 0.7400 | 1,480.00 | |
| 08/25/06 | HRPT PROPERTIES TR-SBI SBI REC 07/25/06 PAY 08/25/06 | HRP | 10,000 | 0.2100 | 2,100.00 | |
| TOTAL | $3,580.00 | |||||
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Confidential Treatment Requested by JPMorgan Chase¶
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JPM-SDNY-00056480 EFTA00065509¶