EFTA00195631

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 ...





<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>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

Your Portfolio at a Glance

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

FINANCIAL TRUST CO INC



ACCOUNT NUMBER



<table border="1"><tr><td>TOTAL VALUE OF SECURITIES THIS PERIOD</td><td>15,453,004</td></tr><tr><td>LONG ACCRUED INTEREST</td><td>149,256</td></tr><tr><td>NET CREDIT BALANCE</td><td>280,444</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$15,882,704</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>16,731,773</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>-849,069</td></tr></table>

STATEMENT PERIOD November 1, 2003

| LAST STATEMENT | October 31, 2003 |

| :--- | :--- |

THROUGH November 28, 2003

TAXPAYER NUMBER On File

Market Value of Your Portfolio

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 11/29/03:08:43 001

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EFTA00195632



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY




2 of 12


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

EFTA00195633



BEAR
STEARNS


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

3 of 12

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$450,076.34</td></tr><tr><td>Securities Sold</td><td>101,312,656.87</td></tr><tr><td>Dividends/Interest</td><td>637,878.91</td></tr><tr><td>Miscellaneous</td><td>204,699.00</td></tr><tr><td>Amount Credited</td><td>$102,155,234.78</td></tr><tr><td>Securities Bought</td><td>-102,136,500.00</td></tr><tr><td>Miscellaneous</td><td>-188,367.00</td></tr><tr><td>Amount Debited</td><td>$-102,324,867.00</td></tr><tr><td>Net Cash Activity</td><td>-169,632.22</td></tr><tr><td>Closing Balance</td><td>$280,444.12</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Margin</td><td>450,076.34</td><td>280,444.12</td></tr><tr><td>Net Cash Balance</td><td>$450,076.34</td><td>$280,444.12</td></tr></table>

Income Summary

<table border="1"><tr><td></td><td>THIS PERIOD</td><td>YEAR TO DATE</td></tr><tr><td>Govt. Agency Int.</td><td>552,396.94</td><td>8,932,715.42</td></tr><tr><td>Corp. Bond Int.</td><td>85,430.29</td><td>1,162,667.05</td></tr><tr><td>Credit Balance Int.</td><td>51.68</td><td>1,079.39</td></tr><tr><td>Reverse Repurchase Int.</td><td>2,398.77</td><td>22,355.60</td></tr><tr><td>Total</td><td>$640,277.68</td><td>$10,118,817.46</td></tr><tr><td>Bond Purchase Int.</td><td></td><td>-50,156.82</td></tr><tr><td>Repurchase Int. Exp.</td><td></td><td>-24,344.52</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>280,444</td></tr><tr><td>Fixed Income</td><td>15,453,004</td></tr><tr><td>Total</td><td>$15,733,448</td></tr></table>

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>November 1, 2003</td></tr></thead><tbody><tr><td>THROUGH</td><td>November 28, 2003</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>October 31, 2003</td></tr></tbody></table>

Your Portfolio Allocation

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

EFTA00195634



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 12

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

FINANCIAL TRUST CO INC

## Your Portfolio Holdings

CASH & CASH EQUIVALENTS



STATEMENT PERIOD November 1, 2003



<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>280,444</td><td></td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$280,444</td><td></td><td></td></tr></tbody></table>

THROUGH November 28, 2003



ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | October 31, 2003 |

| :--- | :--- |

## FIXED INCOME

Government & Agency Obligations

<table><thead><tr><th>DESCRIPTION</th><th>SYMBOL/CUSIP</th><th>ACCT TYPE</th><th>QUANTITY</th><th>PRICE</th><th>MARKET VALUE</th><th>ACCRUED INTEREST</th><th>ESTIMATED ANNUAL INCOME</th><th>CURRENT YIELD (%)</th></tr></thead><tbody><tr><td>FEDERAL HOME LOAN MTG CORP<br>SERIES 2526 CLASS SI<br>DATED DATE 10/01/02<br>BOOK ENTRY ONLY<br>DUE 02/15/2032 5,880%<br>FACTOR = .42071211</td><td></td><td>MRGN</td><td>10,827,941</td><td>10.5177</td><td>1,138,856</td><td>22,991</td><td>636,683</td><td>55.9055</td></tr><tr><td>FEDERAL NATIONAL MTG ASSN<br>STRIP MTG SERIES 322 CL PO<br>DATED DATE 03/01/02<br>BOOK ENTRY ONLY<br>DUE 03/01/2032 .001%<br>FACTOR = 1,00000000</td><td></td><td>MRGN</td><td>2,041,189</td><td>83.3750</td><td>1,701,841</td><td>2</td><td>20</td><td></td></tr><tr><td>FEDERAL HOME LOAN MTG CORP<br>SERIES 2471 CLASS YT<br>DATED DATE 06/07/02<br>BOOK ENTRY ONLY<br>DUE 03/15/2032 1,000%<br>FACTOR = .38226545</td><td></td><td>MRGN</td><td>38,226,544</td><td>3.6983</td><td>1,413,715</td><td>13,800</td><td>382,265</td><td>27.0397</td></tr><tr><td>FEDERAL HOME LOAN MTG CORP<br>SERIES 2488 CLASS SQ<br>DATED DATE 07/08/02<br>BOOK ENTRY ONLY<br>DUE 03/15/2032 .880%<br>FACTOR = .38482003</td><td></td><td>MRGN</td><td>19,241,000</td><td>11.3871</td><td>2,190,993</td><td>47,800</td><td>1,323,781</td><td>60.4192</td></tr></tbody></table>

027



11/29/03;08:43 001


EFTA00195635



BEAR
STEARNS


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



CLEARED THROUGH ITS
WHOLLY OWNED SUBSDIARY




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


**5 of 12**

FINANCIAL TRUST CO INC

## Your Portfolio Holdings (continued)

Government & Agency Obligations (continued)

<table><thead><tr><th>DESCRIPTION</th><th>SYMBOL/CUSIP</th><th>ACCT TYPE</th><th>QUANTITY</th><th>PRICE</th><th>MARKET VALUE</th><th>ACCRUED INTEREST</th><th>ESTIMATED ANNUAL INCOME</th><th>CURRENT YIELD (%)</th></tr></thead><tbody><tr><td>FEDERAL HOME LOAN MTG CORP<br>SERIES 2483 CL SL<brDATED DATE 07/02/02<brBOOK ENTRY ONLY<brDUE 03/15/2032 5,880%<brFACTOR = .38482002</td><td></td><td>MRGN</td><td>22,198,317</td><td>10.6633</td><td>2,367,071</td><td>47,134</td><td>1,305,261</td><td>55.1425</td></tr><tr><td>FEDL HOME LOAN MTG<br>SERIES 223 CLASS PO<brDATED DATE 12/01/02<brBOOK ENTRY ONLY<brDUE 12/01/2032<brFACTOR = .66174275</td><td></td><td>MRGN</td><td>3,308,713</td><td>77.5781</td><td>2,566,838</td><td></td><td></td><td></td></tr><tr><td>FEDERAL NATIONAL MTG ASSN<br>SERIES 2003-49 CLASS SW<brDATED DATE 04/30/03<brBOOK ENTRY ONLY<brDUE 01/25/2033 5,881%<brFACTOR = .78082180</td><td></td><td>MRGN</td><td>18,979,247</td><td>10.6794</td><td>2,026,866</td><td>9,302</td><td>1,116,170</td><td>55.0688</td></tr><tr><td colspan="4">Total Government&amp; Agency Obligations</td><td></td><td>$13,406,180</td><td>$141,029</td><td>$4,764,180</td><td></td></tr></tbody></table>

Corporate Bonds

<table><thead><tr><th>DESCRIPTION</th><th>SYMBOL/CUSIP</th><th>ACCT TYPE</th><th>QUANTITY</th><th>PRICE</th><th>MARKET VALUE</th><th>ACCRUED INTEREST</th><th>ESTIMATED ANNUAL INCOME</th><th>CURRENT YIELD (%)</th></tr></thead><tbody><tr><td>FANNIE MAE CMO/SERIES 2002-82</td><td></td><td>MRGN</td><td>14,242,197</td><td>14.3715</td><td>2,046,824</td><td>8,227</td><td>987,127</td><td>48.2273</td></tr><tr><td>SK-I/O FLTR DATED DATE 10/02/02 BOOK ENTRY ONLY DUE 10/25/2031 .931% FACTOR = .56968794</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total CorporateBonds</td><td></td><td></td><td></td><td></td><td>$2,046,824</td><td>$8,227</td><td>$987,127</td><td></td></tr><tr><td>TOTAL FIXED INCOME</td><td></td><td></td><td></td><td></td><td>$15,453,004</td><td>$149,256</td><td>$5,751,307</td><td></td></tr></tbody></table>

027



11/29/03;08:43 001


EFTA00195636



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY





of 12





Bear, Steams Securities Corp.

One Metrotech Center North Brooklyn, New York 11201-3859



<table border="1"><tr><td>YOUR TOTAL ACCRUED INTEREST</td><td>$149,256</td></tr><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$5,751,307</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$15,733,448</td></tr></table>

## Your Portfolio Holdings (continued)

FINANCIAL TRUST CO INC

## Repurchase and Reverse Repurchase Transactions

STATEMENT PERIOD November 1, 2003

THROUGH November 28, 2003



ACCOUNT NUMBER



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

TAXPAYER NUMBER On File

| LAST STATEMENT | October 31, 2003 |

| :--- | :--- |

<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></tr></thead><tbody><tr><td colspan="9">YOU PROVIDED</td></tr><tr><td>(MARGIN)</td><td>10/23/03</td><td>OPEN</td><td></td><td></td><td></td><td>-51,655,000</td><td></td><td>SERIES 2530 CLASS SE</td><td>02/15/32</td></tr><tr><td colspan="10">TOTAL REVERSE REPURCHASE TRANSACTIONS</td></tr><tr><td colspan="10">TOTAL REPURCHASE TRANSACTIONS</td></tr></tbody></table>

*As of statement date*

027



11/29/03;08:43 001


EFTA00195637



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





of 12



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/CUSP</th><th>QUANTITY</th><th>PRICE</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>11/07/03</td><td></td><td>PRINCIPAL</td><td>FEDERAL NATIONAL MTG ASSN<br>STRIP MTG SERIES 322 CL PO<br>1,001 DUE 03/01/32<br>PRINCIPAL REDUCTN 11-25-03</td><td></td><td>-100,887</td><td></td><td></td><td></td></tr><tr><td>11/07/03</td><td></td><td>PRINCIPAL</td><td>FEDL HOME LOAN MTG<br>SERIES 223 CLASS PO<br>DUE 12/01/32<br>PRINCIPAL REDUCTN 11-15-03</td><td></td><td>-61,871</td><td></td><td></td><td></td></tr><tr><td>11/13/03</td><td>10/16/03</td><td>CANCEL SELL</td><td>FNMA-30YR(FNMA)GTD<br>SETT,11/03<br>DUE 11.01/2033,05,500%<br>REF # AS OF 10/16/03 TO CXL PREVIOUS SELL</td><td></td><td>40,000,000</td><td>100.12500</td><td>40,050,000.00</td><td></td></tr><tr><td>11/13/03</td><td>10/07/03</td><td>BOUGHT</td><td>FNMA-30YR(FNMA)GTD<br>SETT,11/03<br>DUE 11.01/2033,05,500%<br>REF # BS</td><td></td><td>40,000,000</td><td>100.59375</td><td>40,237,500.00</td><td></td></tr><tr><td>11/13/03</td><td>10/16/03</td><td>SOLD</td><td>FNMA-30YR(FNMA)GTD<br>SETT,11/03<br>DUE 11.01/2033,05,500%<br>REF # BS</td><td></td><td>-40,000,000</td><td>100.12500</td><td>40,050,000.00</td><td></td></tr><tr><td>11/13/03</td><td>10/07/03</td><td>CANCEL BUY</td><td>FNMA-30YR(FNMA)GTD<br>SETT,11/03<br>DUE 11.01/2033,05,500%<br>REF # AS OF 10/07/03 TO CXL PREVIOUS BUY</td><td></td><td>-40,000,000</td><td>100.59375</td><td>40,237,500.00</td><td></td></tr><tr><td>11/17/03</td><td></td><td>PRINCIPAL</td><td>FEDERAL HOME LOAN MTG CORP<br>SERIES 2471 CLASS YT<br>1,000 DUE 03/15/32<br>PRINCIPAL REDUCTN 11-15-03</td><td></td><td>-1,910,000</td><td></td><td></td><td></td></tr></tbody></table>

027



11/29/03;08:43 001


EFTA00195638



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





8 of 12



FINANCIAL TRUST CO INC

## **Transaction Detail** (continued)



STATEMENT PERIOD November 1, 2003



## INVESTMENT ACTIVITY (continued)

THROUGH November 28, 2003

TAXPAYER NUMBER On File

| LAST STATEMENT | October 31, 2003 |

| :--- | :--- |

<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>11/17/03</td><td></td><td>PRINCIPAL</td><td>FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 11-15-03</td><td></td><td>-818</td><td></td><td></td><td></td></tr><tr><td>11/17/03</td><td></td><td>PRINCIPAL</td><td>FEDERAL HOME LOAN MTG CORP SERIES 2440 CL SL 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 11-15-03</td><td></td><td>-1,109,000</td><td></td><td></td><td></td></tr><tr><td>11/17/03</td><td></td><td>PRINCIPAL</td><td>FEDERAL HOME LOAN MTG CORP SERIES 2440 CL SL 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 11-15-03</td><td></td><td>-620</td><td></td><td></td><td></td></tr><tr><td>11/17/03</td><td></td><td>PRINCIPAL</td><td>FEDERAL HOME LOAN MTG CORP SERIES 2488 CLASS SQ 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 11-15-03</td><td></td><td>-961,794</td><td></td><td></td><td></td></tr><tr><td>11/17/03</td><td></td><td>PRINCIPAL</td><td>FEDERAL HOME LOAN MTG CORP SERIES 2526 CLASS SI 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 11-15-03</td><td></td><td>-527,288</td><td></td><td></td><td></td></tr><tr><td>11/17/03</td><td></td><td>PRINCIPAL</td><td>FEDL HOME LOAN MTG SERIES 223 CLASS PO DUE 12/01/02 PRINCIPAL PAYMENT 11-15-03</td><td></td><td></td><td></td><td></td><td>61,871.10</td></tr><tr><td>11/25/03</td><td></td><td>PRINCIPAL</td><td>FEDERAL NATIONAL MTG ASSN STRIP MTG SERIES 322 CL PO 001 DUE 03/01/02 PRINCIPAL PAYMENT 11-25-03</td><td></td><td></td><td></td><td></td><td>100,887.00</td></tr><tr><td>11/25/03</td><td></td><td>PRINCIPAL</td><td>FANNIE MAE CMO/SERIES 2002-82 SK+VO FLTR 821 DUE 10/25/31 PRINCIPAL REDUCTN 11-25-03</td><td></td><td>-550,926</td><td></td><td></td><td></td></tr></tbody></table>

| 11/29/03;08:43 | 001 | V818 |
| :--- | :--- | :--- |

EFTA00195639



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



9 of 12



FINANCIAL TRUST CO INC

## **Transaction Detail** (continued)



STATEMENT PERIOD November 1, 2003



## INVESTMENT ACTIVITY (continued)

THROUGH November 28, 2003

| LAST STATEMENT | October 31, 2003 |

| :--- | :--- |

<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>11/25/03</td><td></td><td>PRINCIPAL</td><td>FEDERAL NATIONAL MTG ASSN<br>SERIES 2003-49 CLASS SW<br>5,881 DUE 01/25/33<br>PRINCIPAL REDUCTN 11-25-03</td><td></td><td>-354,146</td><td></td><td></td><td></td></tr><tr><td colspan="7">TOTAL</td><td>-$80,287,500.00</td><td>$80,450,258.10</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>11/03/03</td><td>AVG BAL 216,567RT<br>021 OFFICE INTEREST 1003</td><td></td><td></td><td></td><td></td><td>51.68</td></tr><tr><td>11/17/03</td><td>FEDERAL HOME LOAN MTG CORP<br>SERIES 2471 CLASS YT<br>DUE 03/15/2032 1,000<br>INTEREST PAYMENT 11-15-03</td><td></td><td></td><td>1.0000</td><td></td><td>33,447.80</td></tr><tr><td>11/17/03</td><td>FEDERAL HOME LOAN MTG CORP<br>SERIES 2483 CL SL<br>DUE 03/15/2032 5,880<br>INTEREST PAYMENT 11-15-03</td><td></td><td></td><td>5.8800</td><td></td><td>114,208.89</td></tr><tr><td>11/17/03</td><td>FEDERAL HOME LOAN MTG CORP<br>SERIES 2488 CLASS SO<br>DUE 03/15/2032 880<br>INTEREST PAYMENT 11-15-03</td><td></td><td></td><td></td><td></td><td>115,829.36</td></tr><tr><td>11/17/03</td><td>FEDERAL HOME LOAN MTG CORP<br>SERIES 2530 CLASS SE<br>DUE 02/15/2032 280<br>INT R/D 10-03/P/D 11-15-03<br>REPO P &amp; I 2800</td><td></td><td></td><td></td><td></td><td>19,268.14</td></tr><tr><td>11/17/03</td><td>FEDERAL HOME LOAN MTG CORP<br>SERIES 2530 CLASS SE<br>DUE 02/15/2032 280<br>INT R/D 10-03/P/D 11-15-03<br>REPO P &amp; I 2800</td><td></td><td></td><td></td><td></td><td>119,268.51</td></tr></tbody></table>

027



11/29/03;08:43 001


EFTA00195640



BEAR
STEARNS


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



CLEARED THROUGH ITS
WHOLLY OWNED SUBSDIARY




Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859





10 of 12



FINANCIAL TRUST CO INC

## Transaction Detail (continued)



STATEMENT PERIOD November 1, 2003



THROUGH November 28, 2003

| LAST STATEMENT | October 31, 2003 |

| :--- | :--- |

<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>11/17/03</td><td>FEDERAL HOME LOAN MTG CORP<br>SERIES 2526 CLASS SI<br>DUE 02/15/2032 5,880<br>INTEREST PAYMENT 11-15-03</td><td></td><td></td><td>5.8800</td><td></td><td>55,640.62</td></tr><tr><td>11/25/03</td><td>FANNIE MAE CMO/SERIES 2002-82<br>SK-I/O FLTR<br>DUE 10/25/2031 931<br>INTEREST PAYMENT 11-25-03</td><td></td><td></td><td></td><td></td><td>85,430.29</td></tr><tr><td>11/25/03</td><td>FEDERAL NATIONAL MTG ASSN<br>SERIES 2003-49 CLASS SW<br>DUE 01/25/2033 5,881<br>INTEREST PAYMENT 11-25-03</td><td></td><td></td><td>5.8810</td><td></td><td>94,733.62</td></tr><tr><td colspan="6">TOTAL</td><td>$637,878.91</td></tr></tbody></table>

## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear, Stearns& Co.Inc.



027

EFTA00195641



BEAR
STEARNS


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



CLEARED THROUGH ITS
WHOLLY OWNED SUBSDIARY




Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859





11 of 12



FINANCIAL TRUST CO INC

## Transaction Detail (continued)

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)



STATEMENT PERIOD November 1, 2003



THROUGH November 28, 2003



ACCOUNT NUMBER



| LAST STATEMENT | October 31, 2003 |

| :--- | :--- |

TAXPAYER NUMBER On File

| 027 | 11/29/03;08:43 | 001 | V818 |
| :--- | :--- | :--- | :--- |

EFTA00195642



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



12 of 12



FINANCIAL TRUST CO INC

## **Transaction Detail** (continued)

STATEMENT PERIOD November 1, 2003

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)

THROUGH November 28, 2003



ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | October 31, 2003 |

| :--- | :--- |

## 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>11/05/03</td><td>JOURNAL</td><td>FITG FITM</td><td>17.00</td><td></td></tr><tr><td>11/12/03</td><td>JOURNAL</td><td>FNMA-30YR(FNMA)GTD<br>SETT,11/03<br>5,500 DUE 11/01/33<br>MBS NET 11/12/03</td><td>187,500.00</td><td></td></tr><tr><td>11/17/03</td><td>JOURNAL</td><td>FITG FITM</td><td></td><td>204,699.00</td></tr><tr><td>11/24/03</td><td>JOURNAL</td><td>OCT 03 SPEC CLEARING FEES</td><td>850.00</td><td></td></tr><tr><td colspan="3">TOTAL</td><td>-188,367.00</td><td>$204,699.00</td></tr></tbody></table>



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


027



11/29/03;08:43 001