EFTA00195575

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 3

Your Portfolio Holdings ... 4

Transaction Detail ... 5







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 Metratech 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.

## Your Portfolio at a Glance

FINANCIAL TRUST CO INC

LAST STATEMENT

<table border="1"><tr><td>NET CREDIT BALANCE</td><td>1,529</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$1,529</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>0</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>1,529</td></tr></table>

STATEMENT PERIOD August 31, 2002

TAXPAYER NUMBER On File

ACCOUNT NUMBER

THROUGH September 27, 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.

027 09/28/02:12:44 001

V636

EFTA00195576



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY


2 of 5

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

FINANCIAL TRUST CO INC

STATEMENT BACKER IS PRINTED ON THIS PAGE

027

EFTA00195577



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

3 of 5

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$0.00</td></tr><tr><td>Securities Sold</td><td>10,287,500.00</td></tr><tr><td>Miscellaneous</td><td>25,000.00</td></tr><tr><td>Amount Credited</td><td>$10,312,500.00</td></tr><tr><td>Securities Bought</td><td>-10,281,250.00</td></tr><tr><td>Dividends/Interest Charged</td><td>-29,721.47</td></tr><tr><td>Amount Debited</td><td>$-10,310,971.47</td></tr><tr><td>Net Cash Activity</td><td>1,528.53</td></tr><tr><td>Closing Balance</td><td>$1,528.53</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Margin</td><td>0.00</td><td>1,528.53</td></tr><tr><td>Net Cash Balance</td><td>$0.00</td><td>$1,528.53</td></tr></table>

Income Summary

<table><thead><tr><th></th><th>THIS PERIOD</th><th>YEAR TO DATE</th></tr></thead><tbody><tr><td>Bond Purchase Int.</td><td>-29,721.47</td><td>-29,721.47</td></tr></tbody></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>1,529</td></tr><tr><td>Total</td><td>$1,529</td></tr></table>

027

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY

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

FINANCIAL TRUST CO INC

<table><thead><tr><th>STATEMENT PERIOD</th><td>August 31, 2002</td></tr></thead><tbody><tr><td>THROUGH</td><td>September 27, 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></td></tr></tbody></table>



09/28/02;12:44 001


EFTA00195578



BEAR
STEARNS


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



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



4 of 5

## 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>1,529</td><td></td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$1,529</td><td></td><td></td></tr></tbody></table>

Bear, Steams Securities Corp.

One Metratech Center North

Brooklyn, New York 11201-3859

<table><thead><tr><th>YOUR PRICED PORTFOLIOHOLDINGS</th><td>$1,529</td></tr></thead></table>

FINANCIAL TRUST CO INC

STATEMENT PERIOD August 31, 2002

## Repurchase and Reverse Repurchase Transactions

AGCOUNT NUMBER

THROUGH September 27, 2002

TAXPAYER NUMBER On File

LAST 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>09/09/02</td><td>OPEN</td><td>0.250</td><td>-10,287,500</td><td>-7,341</td><td>-10,000,000</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>$0</td><td></td><td></td><td></td><td></td></tr><tr><td colspan="4">TOTAL REPURCHASE TRANSACTIONS</td><td>$-10,287,500</td><td>$-7,341</td><td></td><td></td><td></td><td></td></tr></tbody></table>

*As of statement date*

027



09/28/02;12:44 001


V636

EFTA00195579



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 5**

FINANCIAL TRUST CO INC



Transaction Detail


STATEMENT PERIOD August 31, 2002

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>09/09/02</td><td>09/06/02</td><td>BOUGHT</td><td>UNITED STATES TREASURY NOTE<br>DUE 08/15/2012 04,375% FA 15<br>YIELD 4,028 % TO MATURITY<br>GVER REF #</td><td></td><td>10,000,000<br>ACCR. INT.</td><td>102.81250</td><td>10,281,250.00</td><td></td></tr><tr><td>09/09/02</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>-10,000,000</td><td></td><td></td><td>10,287,500.00</td></tr><tr><td colspan="6">TOTAL</td><td></td><td>-$10,310,971.47</td><td>$10,287,500.00</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>09/11/02</td><td>JOURNAL</td><td>FITM TO FITG</td><td></td><td>25,000.00</td></tr><tr><td>TOTAL</td><td></td><td></td><td></td><td>$25,000.00</td></tr></tbody></table>





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


027



09/28/02;12:44 001


EFTA00195580