Bear Stearns account statement for Financial Trust Co Inc, Nov. 2003

EFTA00195631¶

OFFICE SERVICING YOUR ACCOUNT¶

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

ACCOUNT EXECUTIVE	GNMA GOVT BOND
VISIT OUR WEBSITE	www.bearstearns.com

What’s In This Statement¶

Financial Summary 3¶

Your Portfolio Holdings … 4¶

Transaction Detail …¶

FINANCIAL TRUST CO INC

C/O JEFFREY EPSTEIN

6100 RED HOOK QUARTER

ST B3

ST THOMAS VI 00802

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¶

TOTAL VALUE OF SECURITIES THIS PERIOD	15,453,004
LONG ACCRUED INTEREST	149,256
NET CREDIT BALANCE	280,444
NET EQUITY THIS PERIOD	$15,882,704
NET EQUITY LAST STATEMENT	16,731,773
CHANGE SINCE LAST STATEMENT	-849,069

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.¶

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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¶

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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¶

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

Cash Balance Summary¶

	OPENING	CLOSING
Margin	450,076.34	280,444.12
Net Cash Balance	$450,076.34	$280,444.12

Income Summary¶

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

Portfolio Composition¶

Cash/Cash Equivalent	280,444
Fixed Income	15,453,004
Total	$15,733,448

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

FINANCIAL TRUST CO INC¶

STATEMENT PERIOD	November 1, 2003
THROUGH	November 28, 2003
ACCOUNT NUMBER
TAXPAYER NUMBER	On File
LAST STATEMENT	October 31, 2003

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¶

DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CASH BALANCE				280,444
TOTAL CASH & CASH EQUIVALENTS				$280,444

THROUGH November 28, 2003¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | October 31, 2003 |¶

| :--- | :--- |¶

FIXED INCOME¶

Government & Agency Obligations¶

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

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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)¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ACCRUED INTEREST	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL		MRGN	22,198,317	10.6633	2,367,071	47,134	1,305,261	55.1425
FEDL HOME LOAN MTG SERIES 223 CLASS PO		MRGN	3,308,713	77.5781	2,566,838
FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW		MRGN	18,979,247	10.6794	2,026,866	9,302	1,116,170	55.0688
Total Government& Agency Obligations					$13,406,180	$141,029	$4,764,180

Corporate Bonds¶

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

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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¶

YOUR TOTAL ACCRUED INTEREST	$149,256
YOUR TOTAL ESTIMATED ANNUAL INCOME	$5,751,307
YOUR PRICED PORTFOLIOHOLDINGS	$15,733,448

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 |¶

| :--- | :--- |¶

	PURCHASE/ START DATE	REPURCHASE DATE	PRICING RATE	PURCHASE PRICE/ PRINCIPAL	ACCRUED REPO INTEREST*	QUANTITY (FACE AMOUNT)	CUSIP	DESCRIPTION
YOU PROVIDED
(MARGIN)	10/23/03	OPEN				-51,655,000		SERIES 2530 CLASS SE	02/15/32
TOTAL REVERSE REPURCHASE TRANSACTIONS
TOTAL REPURCHASE TRANSACTIONS

As of statement date¶

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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¶

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

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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 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
11/17/03		PRINCIPAL	FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 11-15-03		-818
11/17/03		PRINCIPAL	FEDERAL HOME LOAN MTG CORP SERIES 2440 CL SL 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 11-15-03		-1,109,000
11/17/03		PRINCIPAL	FEDERAL HOME LOAN MTG CORP SERIES 2440 CL SL 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 11-15-03		-620
11/17/03		PRINCIPAL	FEDERAL HOME LOAN MTG CORP SERIES 2488 CLASS SQ 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 11-15-03		-961,794
11/17/03		PRINCIPAL	FEDERAL HOME LOAN MTG CORP SERIES 2526 CLASS SI 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 11-15-03		-527,288
11/17/03		PRINCIPAL	FEDL HOME LOAN MTG SERIES 223 CLASS PO DUE 12/01/02 PRINCIPAL PAYMENT 11-15-03					61,871.10
11/25/03		PRINCIPAL	FEDERAL NATIONAL MTG ASSN STRIP MTG SERIES 322 CL PO 001 DUE 03/01/02 PRINCIPAL PAYMENT 11-25-03					100,887.00
11/25/03		PRINCIPAL	FANNIE MAE CMO/SERIES 2002-82 SK+VO FLTR 821 DUE 10/25/31 PRINCIPAL REDUCTN 11-25-03		-550,926

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 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
11/25/03		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW 5,881 DUE 01/25/33 PRINCIPAL REDUCTN 11-25-03		-354,146
TOTAL							-$80,287,500.00	$80,450,258.10

INTEREST¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
11/03/03	AVG BAL 216,567RT 021 OFFICE INTEREST 1003					51.68
11/17/03	FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT DUE 03/15/2032 1,000 INTEREST PAYMENT 11-15-03			1.0000		33,447.80
11/17/03	FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL DUE 03/15/2032 5,880 INTEREST PAYMENT 11-15-03			5.8800		114,208.89
11/17/03	FEDERAL HOME LOAN MTG CORP SERIES 2488 CLASS SO DUE 03/15/2032 880 INTEREST PAYMENT 11-15-03					115,829.36
11/17/03	FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS SE DUE 02/15/2032 280 INT R/D 10-03/P/D 11-15-03 REPO P & I 2800					19,268.14
11/17/03	FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS SE DUE 02/15/2032 280 INT R/D 10-03/P/D 11-15-03 REPO P & I 2800					119,268.51

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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 |¶

| :--- | :--- |¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
11/17/03	FEDERAL HOME LOAN MTG CORP SERIES 2526 CLASS SI DUE 02/15/2032 5,880 INTEREST PAYMENT 11-15-03			5.8800		55,640.62
11/25/03	FANNIE MAE CMO/SERIES 2002-82 SK-I/O FLTR DUE 10/25/2031 931 INTEREST PAYMENT 11-25-03					85,430.29
11/25/03	FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW DUE 01/25/2033 5,881 INTEREST PAYMENT 11-25-03			5.8810		94,733.62
TOTAL						$637,878.91

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¶

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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¶

DATE MO/DAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
11/05/03	JOURNAL	FITG FITM	17.00
11/12/03	JOURNAL	FNMA-30YR(FNMA)GTD SETT,11/03 5,500 DUE 11/01/33 MBS NET 11/12/03	187,500.00
11/17/03	JOURNAL	FITG FITM		204,699.00
11/24/03	JOURNAL	OCT 03 SPEC CLEARING FEES	850.00
TOTAL			-188,367.00	$204,699.00

******* End of Statement*******¶

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