Bear Stearns account statement for a trust holding Epstein's interests, November 2004

EFTA00195176¶

OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179¶

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| ACCOUNT EXECUTIVE | ZICHERMAN, IRA |¶

| TELEPHONE | |¶

| VISIT OUR WEBSITE | www.bearstearns.com |¶

What’s In This Statement¶

Financial Summary 3¶

Your Portfolio Holdings … 3¶

Transaction Detail 4¶

Fund Activity 4¶

EPSTEIN INTERESTS¶

DTD 12/26/91¶

JEFFERY E EPSTEIN & MARK L¶

• EPSTEIN & WILLIAM ELKUS TTEES

457 MADISON AVENUE 4TH FLR¶

NEW YORK NY 10022-6843¶

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSIDIARY¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

Your Portfolio at a Glance¶

| LAST STATEMENT | October 29, 2004 |¶

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MONEY MARKET FUND BALANCE	828,308

TAXPAYER NUMBER On File¶

ACCOUNT NUMBER¶

| NET EQUITY LAST STATEMENT | 827,146 |¶

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There are no “Stop Loss” orders or other pending buy or sell open orders on file for your account.¶

STATEMENT PERIOD October 30, 2004¶

*This portfolio includes one or more unpriced securities that are not reflected in the Total Value of Securities and the Net Equity This Period.¶

CHANGE SINCE LAST STATEMENT 1,162¶

EPSTEIN INTERESTS¶

THROUGH November 30, 2004¶

Market Value of Your Portfolio¶

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, Steams 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.¶

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶

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Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859¶

EPSTEIN INTERESTS¶

STATEMENT BACKER IS PRINTED ON THIS PAGE¶

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EFTA00195178¶

BEAR STEARNS¶

OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179¶

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Cash Flow Analysis¶

	THIS PERIOD
OpeningBalance	$0.00
Money Fund	829,398.07
Amount Credited	$829,398.07
Money Fund	-829,398.07
Amount Debited	$-829,398.07
ClosingBalance	$0.00

Income Summary¶

	THIS PERIOD	YEAR TO DATE
Dividends	1,161.83	7,498.88
Total	$1,161.83	$7,498.88

Portfolio Composition¶

Cash/Cash Equivalent	828,308
Total	$828,308

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 1.8400%	DICXX	828,308.18	1.0000	828,308	13,253	1.6000
TOTAL CASH & CASH EQUIVALENTS				$828,308	$13,253

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

027¶

Bear, Steams Securities Corp.¶

One Metratech Center North¶

Brooklyn, New York 11201-3859¶

STATEMENT PERIOD October 30, 2004¶

EPSTEIN INTERESTS¶

THROUGH November 30, 2004¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | October 29, 2004 |¶

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Your Portfolio Allocation¶

Unshaded portions denote debit balance and/or short market values. The allocation percentage is derived from the absolute market value of your portfolio.¶

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EFTA00195179¶

BEAR STEARNS¶

OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

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Bear, Steams Securities Corp.¶

One Meterotech Center North Brooklyn, New York 11201-3859¶

Your Portfolio Holdings (continued)¶

Equities & Options¶

EQUITIES¶

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.¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
BANPAIS SA-SPONSORED ADR REPSTG 6 SER L SHS	BPIBY	CASH	20,000	Unpriced
Total Equities& Options					$0	$0
TOTAL EQUITIES					$0	$0

YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME	$13,253
YOUR PRICED PORTFOLIOHOLDINGS	$828,308

EPSTEIN INTERESTS¶

AGCOUNT NUMBER¶

Transaction Detail¶

| LAST STATEMENT | October 29, 2004 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

STATEMENT PERIOD October 30, 2004¶

MONEY FUND ACTIVITY¶

THROUGH November 30, 2004¶

DATE MO/DAY	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
10/30/04		OPENINGBALANCE		827,146.35
11/01/04	DIVIDEND	BEAR STEARNS PRIME MONEY FUND MONTHLY DIVIDEND	BSMXX				1,089.89
11/01/04	REINVEST	BEAR STEARNS PRIME MONEY FUND DIVIDEND REINVEST	BSMXX	1,089.89		1,089.89

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EFTA00195180¶

BEAR STEARNS¶

OFFICE SERVICING YOUR ACCOUNT¶

Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

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EPSTEIN INTERESTS¶

Transaction Detail (continued)¶

STATEMENT PERIOD October 30, 2004¶

THROUGH November 30, 2004¶

MONEY FUND ACTIVITY (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | October 29, 2004 |¶

| :--- | :--- |¶

DATE MO/DAY	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
11/03/04	BOUGHT	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICXX	828,236.24	1.0000	828,236.24
11/03/04	SOLD	BEAR STEARNS PRIME MONEY FUND	BSMXX	-828,236.24	1.0000		828,236.24
11/03/04	DIVIDEND	BEAR STEARNS PRIME MONEY FUND RESIDUAL DIVIDEND	BSMXX				71.94
11/04/04	BOUGHT	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICXX	71.94	1.0000	71.94
11/30/04		CLOSINGBALANCE		828,308.18
TOTAL						-829,398.07	$829,398.07

******* End of Statement*******¶

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