EFTA00195421



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.
245 Park Avenue
New York, New York 10167

| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | ZICHERMAN, IRA |

| TELEPHONE | |

| VISIT OUR WEBSITE | www.bearstearns.com |





<table border="1"><tr><td>EPSTEIN INTERESTS</td></tr><tr><td>DTD 12/26/91</td></tr><tr><td>JEFFERY E EPSTEIN &amp; MARK L *</td></tr><tr><td>EPSTEIN &amp; WILLIAM ELKUS TTEES</td></tr><tr><td>457 MADISON AVENUE 4TH FL</td></tr><tr><td>NEW YORK NY 10022-6809</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



## Premise or Third Party Repurchase Agreements with Bear, Stearns& Co.Inc.outstanding as of date of statement

<table><thead><tr><th>PURCHASE/ START DATE</th><th>REPURCHASE/ END DATE</th><th>PURCHASE PRICE/ PRINCIPAL</th><th>PRICING RATE</th><th>REPO/ ACCRUED INTEREST*</th><th>NET AMOUNT</th></tr></thead><tbody><tr><td>01/18/01</td><td>OPEN</td><td>965,242.11</td><td>4.370000</td><td>14,273.79</td><td>979,515.90</td></tr><tr><td colspan="5">TOTAL REPURCHASE AGREEMENTS</td><td>$979,515.90</td></tr></tbody></table>

Bear, Steams Securities Corp.

One Metratech Center North

Brooklyn, New York 11201-3859

*As of statement date*

The above positions do not appear in any other section of this statement.

| LAST STATEMENT | March 30, 2001 |

| :--- | :--- |

EPSTEIN INTERESTS

TAXPAYER NUMBER On File



ACCOUNT NUMBER





STATEMENT PERIOD March 31, 2001

THROUGH April 27, 2001



******* End of Statement*******



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.

027 04/28/01:19:29 001

V471

EFTA00195422



2 of 2


CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY

Bear, Stearns Securities Corp.
One Mebrotech Center North Brooklyn, New York 11201-3859

EPSTEIN INTERESTS

STATEMENT BACKER IS PRINTED ON THIS PAGE

| 027 | 04/28/01;19:29 001 | V471 |
| :--- | :--- | :--- |