EFTA00195569

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

<table border="1"><tr><td>Financial Summary</td><td>3</td></tr><tr><td>Your Portfolio Holdings</td><td>4</td></tr><tr><td>Transaction Detail</td><td>5</td></tr></table>







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

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

FINANCIAL TRUST CO INC

## Your Portfolio at a Glance

STATEMENT PERIOD September 28, 2002

| LAST STATEMENT | September 27, 2002 |

| :--- | :--- |

<table border="1"><tr><td>NET CREDIT BALANCE</td><td>11,458</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$11,458</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>1,529</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>9,929</td></tr></table>

ACCOUNT NUMBER

TAXPAYER NUMBER On File

THROUGH October 25, 2002

| 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. |
| :--- | :--- |
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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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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><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$1,528.53</td></tr><tr><td>Securities Sold</td><td>15,600,000.00</td></tr><tr><td>Miscellaneous</td><td>49.00</td></tr><tr><td>Amount Credited</td><td>$15,600,049.00</td></tr><tr><td>Securities Bought</td><td>-15,541,406.25</td></tr><tr><td>Dividends/Interest Charged</td><td>-45,402.53</td></tr><tr><td>Miscellaneous</td><td>-3,311.00</td></tr><tr><td>Amount Debited</td><td>$-15,590,119.78</td></tr><tr><td>Net Cash Activity</td><td>9,929.22</td></tr><tr><td>Closing Balance</td><td>$11,457.75</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Margin</td><td>1,528.53</td><td>11,457.75</td></tr><tr><td>Net Cash Balance</td><td>$1,528.53</td><td>$11,457.75</td></tr></table>

Income Summary

<table border="1"><tr><td></td><td>THIS PERIOD</td><td>YEAR TO DATE</td></tr><tr><td>Bond Purchase Int.</td><td>-36,260.19</td><td>-65,981.66</td></tr><tr><td>Margin Int. Paid</td><td>-0.75</td><td>-0.75</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>11,458</td></tr><tr><td>Total</td><td>$11,458</td></tr></table>

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY

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

FINANCIAL TRUST CO INC

<table><thead><tr><th>STATEMENT PERIOD</th><th>September 28, 2002</th></tr></thead><tbody><tr><td>THROUGH</td><td>October 25, 2002</td></tr><tr><td>ACCOUNT NUMBER</td><td></td></tr><tr><td>TAXPAYER NUMBER</td><td>On File</td></tr><tr><td>LAST STATEMENT</td><td>September 27, 2002</td></tr></tbody></table>

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

EFTA00195572



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



4 of 6

Bear, Steams Securities Corp.

One Metrotech Center North Brooklyn, New York 11201-3859

## 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>11,458</td><td></td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$11,458</td><td></td><td></td></tr></tbody></table>

FINANCIAL TRUST CO INC

STATEMENT PERIOD September 28, 2002

<table><thead><tr><th>YOUR PRICED PORTFOLIOHOLDINGS</th><td>$11,458</td></tr></thead></table>

## Repurchase and Reverse Repurchase Transactions

| THROUGH | October 25, 2002 |

| :--- | :--- |

AGCOUNT NUMBER

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

TAXPAYER NUMBER On File

| LAST STATEMENT | September 27, 2002 |

| :--- | :--- |

<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<br>(REPO)</td><td>10/15/02</td><td>OPEN</td><td>0.450</td><td>-15,600,000</td><td>-4,333</td><td>-15,000,000</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>-15,600,000</td><td>-4,333</td><td></td><td></td><td></td><td></td></tr></tbody></table>

*As of statement date*

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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 Metratech Center North

Brooklyn, New York 11201-3859



**5 of 6**

FINANCIAL TRUST CO INC



Transaction Detail


INVESTMENT ACTIVITY

<table><thead><tr><th>SETTLEMENT DATE</th><th>TRADE DATE</th><th>TRANSACTION</th><th>DESCRIPTION</th><th>SYMBOL/CUSIP</th><th>QUANTITY</th><th>PRICE</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>10/15/02</td><td>10/11/02</td><td>BOUGHT</td><td>UNITED STATES TREASURY NOTE<br>DUE 08/15/2012 04,375% FA 15<br>YIELD 3,752 % TO MATURITY<br>GVER REF #</td><td></td><td>5,000,000<br>ACCR. INT.</td><td>105.07813</td><td>5,253,906.25<br>36,260.19</td><td></td></tr><tr><td>10/15/02</td><td></td><td>JOURNAL</td><td>UNITED STATES TREASURY NOTE<br>FITG<br>4,375 DUE 08/15/12<br>RP TERM<br>TERM REPO AGREEMENT</td><td></td><td>10,000,000</td><td></td><td>10,287,500.00</td><td></td></tr><tr><td>10/15/02</td><td></td><td>JOURNAL</td><td>UNITED STATES TREASURY NOTE<br>FITG<br>4,375 DUE 08/15/12<br>RP OPEN<br>REPO AGREEMENT</td><td></td><td>-15,000,000</td><td></td><td></td><td>15,600,000.00</td></tr><tr><td colspan="6">TOTAL</td><td></td><td>-15,577,666.44</td><td>$15,600,000.00</td></tr></tbody></table>



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>09/30/02</td><td>AVG BAL 338RT 3.803<br>021 OFFICE INTEREST 0902</td><td></td><td></td><td></td><td>0.75</td><td></td></tr><tr><td>10/15/02</td><td>UNITED STATES TREASURY NOTE<br>FITG<br>4,375 DUE INITIAL<br>RE TERM<br>REPO INTEREST</td><td></td><td></td><td>4.3750</td><td>9,141.59</td><td></td></tr><tr><td colspan="6">TOTAL</td><td>-$9,142.34</td></tr></tbody></table>

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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

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## **Transaction Detail** (continued)

## 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>10/04/02</td><td>JOURNAL</td><td>FITG TO FITM</td><td>1,527.00</td><td></td></tr><tr><td>10/09/02</td><td>JOURNAL</td><td>SEPT 02 CLEARING FEES</td><td>50.00</td><td></td></tr><tr><td>10/10/02</td><td>JOURNAL</td><td>FITM TO FITG</td><td></td><td>49.00</td></tr><tr><td>10/21/02</td><td>JOURNAL</td><td>FITG TO FITM</td><td>1,734.00</td><td></td></tr><tr><td colspan="3">TOTAL</td><td>-3,311.00</td><td>$49.00</td></tr></tbody></table>



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




CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

FINANCIAL TRUST CO INC

STATEMENT PERIOD September 28, 2002

| THROUGH | October 25, 2002 |

| :--- | :--- |

ACCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | September 27, 2002 |

| :--- | :--- |

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