## Statements

EFTA00195559

OFFICE SERVICING YOUR ACCOUNT

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

<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>

## What’s In This Statement

Financial Summary 1

Your Portfolio Holdings ... 2

Transaction Detail ... 2







CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



<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>

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

## Cash Flow Analysis

<table border="1"><tr><td></td><th>THIS PERIOD</th></tr><tr><td>OpeningBalance</td><td>-0.99</td></tr><tr><td>Dividends/Interest</td><td>5.14</td></tr><tr><td>Miscellaneous</td><td>46.00</td></tr><tr><td>Amount Credited</td><td>$51.14</td></tr><tr><td>Miscellaneous</td><td>-50.00</td></tr><tr><td>Amount Debited</td><td>-50.00</td></tr><tr><td>Net Cash Activity</td><td>1.14</td></tr><tr><td>ClosingBalance</td><td>$0.15</td></tr></table>

| LAST STATEMENT | November 29, 2002 |

| :--- | :--- |

FINANCIAL TRUST CO INC

TAXPAYER NUMBER On File

STATEMENT PERIOD November 30, 2002

ACCOUNT NUMBER

THROUGH December 31, 2002

## Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Margin</td><td>-0.99</td><td>0.15</td></tr><tr><td>Net Cash Balance</td><td>-0.99</td><td>$0.15</td></tr></table>

Income Summary

<table border="1"><tr><td></td><td>THIS PERIOD</td><td>YEAR TO DATE</td></tr><tr><td>Credit Balance Int.</td><td>5.14</td><td>9.82</td></tr><tr><td>Total</td><td>$5.14</td><td>$9.82</td></tr><tr><td>Bond Purchase Int.</td><td>0.00</td><td>-339,419.16</td></tr><tr><td>Margin Int. Paid</td><td>0.00</td><td>-0.75</td></tr><tr><td>Repurchase Int. Exp.</td><td>0.00</td><td>-6,820.67</td></tr></table>

## Important Message

If any information regarding 2002 interest, 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 January 31, 2003 or a 1042Sby March 17, 2003.

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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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 Metrotech Center North Brooklyn, New York 11201-3859



CASH & CASH EQUIVALENTS

## Your Portfolio Holdings

FINANCIAL TRUST CO INC

STATEMENT PERIOD November 30, 2002

<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 colspan="7">CASH BALANCE</td></tr><tr><td colspan="7">TOTAL CASH &amp; CASH EQUIVALENTS</td></tr></tbody></table>

THROUGH December 31, 2002

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | November 29, 2002 |

| :--- | :--- |

## Repurchase and Reverse Repurchase Transactions

with Bear, Stearnsand Co. Inc. outstanding as of date of statement

<table><thead><tr><th></th><th>PURCHASE/ START DATE</th><th>REPURCHASE DATE</th><th>PRICING RATE</th><th>PURCHASE PRICE/ PRINCIPAL</th><th>ACCRUED REPO INTEREST*</th><th>QUANTITY (FACE AMOUNT)</th><th>CUSIP</th><th>DESCRIPTION</th><th></th></tr></thead><tbody><tr><td>YOU SOLD (REPO)</td><td>11/15/02</td><td>OPEN</td><td>0.750</td><td>-41,400,000</td><td>-57,580</td><td>-40,000,000</td><td></td><td>USTR</td><td>4.3750 08/15/12</td></tr><tr><td colspan="4">TOTAL REVERSE REPURCHASE TRANSACTIONS</td><td>$0</td><td>$0</td><td></td><td></td><td></td><td></td></tr><tr><td colspan="4">TOTAL REPURCHASE TRANSACTIONS</td><td>-$41,400,000</td><td>-$57,580</td><td></td><td></td><td></td><td></td></tr></tbody></table>

*As of statement date*



Transaction Detail




INTEREST


<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">12/02/02</td><td>AVG BAL 6,650RT 0.855</td><td></td><td></td><td></td><td></td><td>4.90</td></tr><tr><td>021 OFFICE INTEREST 1102</td><td></td><td></td><td></td><td></td><td></td></tr></tbody></table>

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01/01/03;08:59 001


EFTA00195561



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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FINANCIAL TRUST CO INC

## **Transaction Detail** (continued)

STATEMENT PERIOD November 30, 2002



INTEREST (continued)



THROUGH December 31, 2002

ACCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | November 29, 2002 |

| :--- | :--- |

<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">12/31/02</td><td>AVG BAL 436RT 0.639</td><td></td><td></td><td></td><td></td><td>0.24</td></tr><tr><td>021 OFFICE INTEREST 1202</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="7">TOTAL</td><td>$5.14</td></tr></tbody></table>

## MISCELLANEOUS

<table><thead><tr><th>DATE MO/DAY</th><th>TRANSACTION</th><th>DESCRIPTION</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>12/10/02</td><td>JOURNAL</td><td>NOV 02 CLEARING FEES</td><td>50.00</td><td></td></tr><tr><td>12/11/02</td><td>JOURNAL</td><td>FITM TO FITG</td><td></td><td>46.00</td></tr><tr><td>TOTAL</td><td></td><td></td><td>-50.00</td><td>$46.00</td></tr></tbody></table>





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



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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

FINANCIAL TRUST CO INC

STATEMENT BACKER IS PRINTED ON THIS PAGE

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