EFTA00195447

OFFICE SERVICING YOUR ACCOUNT

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



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



<table><tr><td>ACCOUNT EXECUTIVE</td><td>GNMA GOVT BOND</td></tr><tr><td>VISIT OUR WEBSITE</td><td>www.bearstearns.com</td></tr></table>

Financial Summary 3

Your Portfolio Holdings ... 3

## What’s In This Statement

Transaction Detail 4





Bear, Steams Securities Corp.

One Metratech Center North

Brooklyn, New York 11201-3859

<table border="1"><tr><td>FINANCIAL TRUST CO INC</td></tr><tr><td>C/O JEFFREY EPSTEIN</td></tr><tr><td>6100 RED HOOK QUARTER</td></tr><tr><td>ST B3</td></tr><tr><td>ST THOMAS VI 00802</td></tr></table>

ACCOUNT NUMBER

FINANCIAL TRUST CO INC

TAXPAYER NUMBER On File

STATEMENT PERIOD August 30, 2003

| LAST STATEMENT | August 29, 2003 |

| :--- | :--- |

## Your Portfolio at a Glance

THROUGH September 30, 2003

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

<table border="1"><tr><td>NET CREDIT BALANCE</td><td>657</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$657</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>751</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>-94</td></tr></table>

Market Value of Your Portfolio

## 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.

| SIPC | 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 | 10/01/03:10:54 001 |

V813

EFTA00195448



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY


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

FINANCIAL TRUST CO INC

STATEMENT BACKER IS PRINTED ON THIS PAGE

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EFTA00195449



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

<table border="1"><tr><td></td><th>THIS PERIOD</th></tr><tr><td>OpeningBalance</td><td>$751.35</td></tr><tr><td>Dividends/Interest Charged</td><td>-94.30</td></tr><tr><td>Amount Debited</td><td>$-94.30</td></tr><tr><td>Net Cash Activity</td><td>-94.30</td></tr><tr><td>ClosingBalance</td><td>$657.05</td></tr></table>

Income Summary

<table border="1"><tr><td></td><td>THIS PERIOD</td><td>YEAR TO DATE</td></tr><tr><td>U.S.Govt.Bond Int.</td><td>0.00</td><td>2,069,036.57</td></tr><tr><td>Credit Balance Int.</td><td>0.00</td><td>225.80</td></tr><tr><td>Reverse Repurchase Int.</td><td>0.00</td><td>32,666.67</td></tr><tr><td>Total</td><td>$0.00</td><td>$2,101,929.04</td></tr><tr><td>Bond Purchase Int.</td><td>0.00</td><td>-498,772.20</td></tr><tr><td>Margin Int.Paid</td><td>-94.30</td><td>-94.30</td></tr><tr><td>Repurchase Int.Exp.</td><td>0.00</td><td>-211,768.62</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Margin</td><td>751.35</td><td>657.05</td></tr><tr><td>Net Cash Balance</td><td>$751.35</td><td>$657.05</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>657</td></tr><tr><td>Total</td><td>$657</td></tr></table>

## Your Portfolio Holdings

CASH & CASH EQUIVALENTS

<table><thead><tr><th>DESCRIPTION</th><th>SYMBOL/CUSIP</th><th>QUANTITY</th><th>PRICE</th><th>MARKET VALUE</th><th>ESTIMATED ANNUAL INCOME</th><th>CURRENT YIELD (%)</th></tr></thead><tbody><tr><td>CASH BALANCE</td><td></td><td></td><td></td><td>657</td><td></td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$657</td><td></td><td></td></tr></tbody></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



Bear, Steams Securities Corp.

One Metratech Center North Brooklyn, New York 11201-3859

STATEMENT PERIOD August 30, 2003

027

FINANCIAL TRUST CO INC

THROUGH September 30, 2003



ACCOUNT NUMBER



TAXPAYER NUMBER On File

Your Portfolio Allocation

| LAST STATEMENT | August 29, 2003 |

| :--- | :--- |



10/01/03;10:54 001


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

EFTA00195450



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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



CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY



4 of 4



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



## Your Portfolio Holdings (continued)

<table border="1"><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$657</td></tr></table>



Transaction Detail




INTEREST


FINANCIAL TRUST CO INC

<table><thead><tr><th>DATE</th><th>DESCRIPTION</th><th>SYMBOL/CUSIP</th><th>QUANTITY</th><th>RATE (%)</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td rowspan="2">09/02/03</td><td>AVG BAL 34,583RT 2.887</td><td></td><td></td><td></td><td>94.30</td><td></td></tr><tr><td>021 OFFICE INTEREST 0803</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>TOTAL</td><td></td><td></td><td></td><td></td><td>-94.30</td><td></td></tr></tbody></table>

STATEMENT PERIOD August 30, 2003

THROUGH September 30, 2003

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | August 29, 2003 |

| :--- | :--- |





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


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