EFTA00195931
ACCOUNT EXECUTIVEGNMA GOVT BOND
VISIT OUR WEBSITEwww.bearstearns.com
## What’s In This Statement Your Portfolio Holdings ... 4
Transaction Detail7
Your Messages ... 18
FINANCIAL TRUST CO INC
C/O JEFFREY EPSTEIN
6100 RED HOOK QUARTER
ST B3
ST THOMAS VI 00802
CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY ## Your Portfolio at a Glance There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account.
TOTAL VALUE OF SECURITIES THIS PERIOD14,475,669
LONG ACCRUED INTEREST178,353
NET CREDIT BALANCE237,245
NET EQUITY THIS PERIOD$14,891,267
NET EQUITY LAST STATEMENT19,401,851
CHANGE SINCE LAST STATEMENT-4,510,584
FINANCIAL TRUST CO INC ACCOUNT NUMBER | LAST STATEMENT | January 30, 2004 | | :--- | :--- | *Note: The table is not present in the image.* TAXPAYER NUMBER On File STATEMENT PERIOD January 31,2004 THROUGH February 27, 2004 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 02/28/04:11:32 001 V828 EFTA00195932 2 of 18 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 EFTA00195933 3 of 18 Cash Flow Analysis
THIS PERIOD
OpeningBalance-13,933,517.82
Securities Sold47,957,263.09
Dividends/Interest1,163,014.99
Miscellaneous12,615.00
Amount Credited$49,132,893.08
Securities Bought-34,888,580.15
Dividends/Interest Charged-18,413.09
Miscellaneous-55,137.00
Amount Debited-34,962,130.24
Net Cash Activity14,170,762.84
ClosingBalance$237,245.02
Cash Balance Summary
OPENINGCLOSING
Margin-13,933,517.82237,245.02
Net Cash Balance$-13,933,517.82$237,245.02
Income Summary
THIS PERIODYEAR TO DATE
Govt. Agency Int.935,620.641,444,454.70
Corp. Bond Int.210,215.02422,370.02
Reverse Repurchase Int.353.901,772.78
Total$1,146,189.56$1,868,597.50
Bond Purchase Int.0.00-175,968.71
Margin Int. Paid-1,233.76-1,233.76
Repurchase Int. Exp.-4,858.21-4,858.21
Portfolio Composition
Cash/Cash Equivalent237,245
Fixed Income14,475,669
Total$14,712,914
FINANCIAL TRUST CO INC STATEMENT PERIOD January 31, 2004 THROUGH February 27, 2004 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | January 30, 2004 | | :--- | :--- | 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. EFTA00195934 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 4 of 18 FINANCIAL TRUST CO INC ## Your Portfolio Holdings CASH & CASH EQUIVALENTS
DESCRIPTIONSYMBOL/CUSIPQUANTITYPRICEMARKET VALUEESTIMATED ANNUAL INCOMECURRENT YIELD (%)
CASH BALANCE237,245
TOTAL CASH & CASH EQUIVALENTS$237,245
STATEMENT PERIOD January 31, 2004 THROUGH February 27, 2004 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | January 30, 2004 | | :--- | :--- | *Note: The table is not present in the image.* ## FIXED INCOME Government & Agency Obligations
DESCRIPTIONSYMBOL/CUSIPACCT TYPEQUANTITYPRICEMARKET VALUEACCRUED INTERESTESTIMATED ANNUAL INCOMECURRENT YIELD (%)
FEDERAL HOME LOAN MTG CORP
SERIES 2530 CLASS SE
DATED DATE 10/11/02
BOOK ENTRY ONLY
DUE 02/15/2032 6,305%
FACTOR = .38208265		MRGN22,924,9598.88162,036,10048,1801,445,41970.9896
FEDERAL HOME LOAN MTG CORP
SERIES 2526 CLASS SI
DATED DATE 10/01/02
BOOK ENTRY ONLY
DUE 02/15/2032 5,905%
FACTOR = .38208264		MRGN9,833,7278.0878795,32819,357580,68273.0116
FEDERAL HOME LOAN MTG CORP
SERIES 2471 CLASS YT
DATED DATE 06/07/02
BOOK ENTRY ONLY
DUE 03/15/2032 1,000%
FACTOR = .34548474		MRGN34,548,4732.0083693,84911,520345,48549.7925
FEDERAL HOME LOAN MTG CORP
SERIES 2488 CLASS SQ
DATED DATE 07/08/02
BOOK ENTRY ONLY
DUE 03/15/2032 6,905%
FACTOR = .34779352		MRGN17,389,6749.72691,691,47440,0251,200,75770.9888
027 02/28/04;11:32 001 EFTA00195935 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY **5 of 18** FINANCIAL TRUST CO INC ## Your Portfolio Holdings (continued) STATEMENT PERIOD January 31, 2004 THROUGH February 27, 2004 Government & Agency Obligations (continued) | LAST STATEMENT | January 30, 2004 | | :--- | :--- |
DESCRIPTIONSYMBOL/CUSIPACCT TYPEQUANTITYPRICEMARKET VALUEACCRUED INTERESTESTIMATED ANNUAL INCOMECURRENT YIELD (%)
FEDERAL HOME LOAN MTG CORP
SERIES 2483 CL SL		MRGN20,062,4457.86951,578,81139,4911,184,68775.0367
FEDL HOME LOAN MTG CORP#S03602
SERIES 223 CLASS PO		MRGN1,026,58283.1875853,988
FEDERAL NATIONAL MTG ASSN
SERIES 2003-49 CLASS SW		MRGN18,140,95410.80001,959,2145,9551,072,13054.7225
Total Government& Agency Obligations$9,608,764$164,528$5,829,160
Corporate Bonds
DESCRIPTIONSYMBOL/CUSIPACCT TYPEQUANTITYPRICEMARKET VALUEACCRUED INTERESTESTIMATED ANNUAL INCOMECURRENT YIELD (%)
FANNIE MAE CMO/SERIES 2003-13
S RCR-I/O FLTR
DATED DATE 02/25/03
BOOK ENTRY ONLY
DUE 03/25/2033 6,910%
FACTOR = .72011086		MRGN36,005,54213.51714,866,90513,8252,487,98351.1204
Total CorporateBonds$4,866,905$13,825$2,487,983
TOTAL FIXED INCOME$14,475,669$178,353$8,317,143
027 02/28/04;11:32 001 EFTA00195936 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 6 of 18 ## Your Portfolio Holdings (continued)
YOUR PORTFOLIOHOLDINGSACCRUED INTEREST$178,353
YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME$8,317,143
YOUR PRICED PORTFOLIOHOLDINGS$14,712,914
FINANCIAL TRUST CO INC STATEMENT PERIOD January 31, 2004 ## Repurchase and Reverse Repurchase Transactions with Bear, Stearnsand Co.Inc. outstanding as of date of statement THROUGH February 27, 2004 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | January 30, 2004 | | :--- | :--- |
PURCHASE/ START DATEREPURCHASE DATEPRICING RATEPURCHASE PRICE/ PRINCIPALACCRUED REPO INTEREST*QUANTITY (FACE AMOUNT)CUSIPDESCRIPTION
YOU SOLD (REPO)02/06/0403/08/041.300-6,209,000-5,381-44,000,000GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-5 CLASS P 5.8587 02/20/33
YOU SOLD (REPO)02/11/0403/08/041.300-2,000,000-1,372-44,389,962GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-2 CLASS S 6.1056 01/16/34
YOU SOLD (REPO)02/27/0403/01/041.300-4,362,000-472-15,000,000FNMA-SMBS PRINCIPAL ONLY SERIES 322 CLASS PO 03/01/32
YOU SOLD (REPO)02/27/0403/01/041.300-1,580,000-171-3,365,000F H L M C - STRIP PRINCIPAL ONLY
TOTAL REVERSE REPURCHASE TRANSACTIONS$0$0
TOTAL REPURCHASE TRANSACTIONS$-14,151,000$-7,396
*As of statement date* 027 02/28/04;11:32 001 V828 EFTA00195937 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 7 of 18 FINANCIAL TRUST CO INC Transaction Detail STATEMENT PERIOD January 31, 2004 THROUGH February 27, 2004 ## INVESTMENT ACTIVITY ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | January 30, 2004 | | :--- | :--- |
MENTION DATETIME DATETRANSACTIONDESCRIPTIONSYMBOL/CUSPQUANTITYPRICEDEBIT AMOUNTCREDIT AMOUNT
02/06/04PRINCIPALFEDERAL NATIONAL MTG ASSN
STRIP MTG SERIES 322 CL PO
0,001 DUE 03/01/32
PRINCIPAL REDUCTN 02-25-04		-51,286
02/06/04PRINCIPALFEDL HOME LOAN MTG CORP#S03602
SERIES 223 CLASS PO
DUE 12/01/32
PRINCIPAL REDUCTN 02-15-04		-48,366
02/09/04JOURNALFEDERAL NATIONAL MTG ASSN
STRIP MTG SERIES 322 CL PO
0,001 DUE 03/01/32
ADJ POS AO 2/2/04		51,286
02/09/04JOURNALFEDL HOME LOAN MTG CORP#S03602
SERIES 223 CLASS PO
DUE 12/01/32
ADJ POS AO 2/2/04		48,366
02/17/04PRINCIPALFEDERAL HOME LOAN MTG CORP
SERIES 2479 CLASS YT
1,000 DUE 03/15/32
PRINCIPAL REDUCTN 02-15-04		-995,746
02/17/04PRINCIPALFEDERAL HOME LOAN MTG CORP
SERIES 2489 CL SI
5,905 DUE 03/15/32
PRINCIPAL REDUCTN 02-15-04		-578,234
02/17/04PRINCIPALFEDERAL HOME LOAN MTG CORP
SERIES 2488 CLASS SO
6,905 DUE 03/15/32
PRINCIPAL REDUCTN 02-15-04		-501,201
02/17/04PRINCIPALFEDERAL HOME LOAN MTG CORP
SERIES 2530 CLASS SE
6,305 DUE 02/15/32
PRINCIPAL REDUCTN 02-15-04		-602,327
02/17/04PRINCIPALFEDERAL HOME LOAN MTG CORP
SERIES 2526 CLASS SI
6,905 DUE 02/15/32
PRINCIPAL REDUCTN 02-15-04		-258,370
| 7 | 02/28/04;11:32 001 | V828 | | :--- | :--- | :--- | EFTA00195938 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 8 of 18 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD January 31, 2004 THROUGH February 27, 2004 ## INVESTMENT ACTIVITY (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | January 30, 2004 | | :--- | :--- |
SETTLEMENT DATETRADE DATETRANSACTIONDESCRIPTIONSYMBOL/CUSIPQUANTITYPRICEDEBIT AMOUNTCREDIT AMOUNT
02/17/04PRINCIPALFEDL HOME LOAN MTG CORP#S03602
SERIES 223 CLASS PO
DUE 12/01/32
PRINCIPAL PAYMENT 02-15-04		48,366.15
02/25/04PRINCIPALFEDERAL NATIONAL MTG ASSN
STRIP MTG SERIES 322 CL PO
0,001 DUE 03/01/32
PRINCIPAL PAYMENT 02-25-04		51,285.95
02/25/04PRINCIPALFANNIE MAE CMO/SERIES 2003-13
S RCR-I/O FLTR
6,900 DUE 03/25/33
PRINCIPAL REDUCTN 02-25-04		-553,592
02/25/04PRINCIPALFEDERAL NATIONAL MTG ASSN
SERIES 2003-49 CLASS SW
5,900 DUE 01/25/33
PRINCIPAL REDUCTN 02-25-04		-278,921
02/27/0402/25/04BOUGHTFEDERAL NATIONAL MTG ASSN
STRIP MTG SERIES 322 CL PO
DUE 03/01/2032 00,001%
REF # 2004022546210000 BS		3,701,24087,875003,252,464.83
TOTAL-3,252,464.83$99,652.10
INTEREST
DATEDESCRIPTIONSYMBOL/CUSIPQUANTITYRATE (%)DEBIT AMOUNTCREDIT AMOUNT
02/02/04AVG BAL 828,258RT 1.730
021 OFFICE INTEREST 0104		1,233.76
02/17/04FEDERAL HOME LOAN MTG CORP
SERIES 2471 CLASS YT
DUE 03/15/2032 1,000
INTEREST PAYMENT 02-15-04		1.000029,620.18
027 02/28/04;11:32 001 EFTA00195939 BEAR STEARNS CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 9 of 18 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) INTEREST (continued) STATEMENT PERIOD January 31,2004 THROUGH February 27, 2004 AGCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | January 30, 2004 | | :--- | :--- |
DATEDESCRIPTIONSYMBOL/CUSIPQUANTITYRATE (%)DEBIT AMOUNTCREDIT AMOUNT
02/17/04FEDERAL HOME LOAN MTG CORP
SERIES 2483 CL SL
DUE 03/15/2032 5,905
INTEREST PAYMENT 02-15-04		5.9050101,483.34
02/17/04FEDERAL HOME LOAN MTG CORP
SERIES 2488 CLASS SD
DUE 03/15/2032 6,905
INTEREST PAYMENT 02-15-04		6.9050102,872.54
02/17/04FEDERAL HOME LOAN MTG CORP
SERIES 2530 CLASS SE
DUE 02/15/2032 6,305
INT R/D 01-04 P/D 02-15-04
REPO P & I 6,3000		6.305017,179.33
02/17/04FEDERAL HOME LOAN MTG CORP
SERIES 2530 CLASS SE
DUE 02/15/2032 6,305
INTEREST PAYMENT 02-15-04		6.3050123,518.25
02/17/04FEDERAL HOME LOAN MTG CORP
SERIES 2526 CLASS SI
DUE 02/15/2032 5,905
INTEREST PAYMENT 02-15-04		5.905049,619.48
02/17/04GOVERNMENT NATIONAL MTG ASSN
SERIES 2004-2 CLASS SB
DUE 01/16/2034 6,080
INT R/D 02-04 P/D 02-16-04
REPO P & I 6,0800		6.0800224,909.14
02/18/04FEDERAL HOME LOAN MTG CORP
SERIES 2530 CLASS SE
DUE 02/15/2032 6,305
REV ENTRY A/O 2/17		6.305017,179.33
02/20/04GOVERNMENT NATIONAL MTG ASSN
SERIES 2004-5 CLASS PS
DUE 02/20/2033 5,810
INT R/D 01-04 P/D 02-20-04
REPO P & I 5,8100		5.8100213,033.33
027 02/28/04;11:32 001 EFTA00195940 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 10 of 18 FINANCIAL TRUST CO INC ## Transaction Detail (continued) STATEMENT PERIOD January 31, 2004 THROUGH February 27, 2004 INTEREST (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | January 30, 2004 | | :--- | :--- |
DATEDESCRIPTIONSYMBOL/CUSIPQUANTITYRATE (%)DEBIT AMOUNTCREDIT AMOUNT
02/25/04FANNIE MAE CMO/SERIES 2003-13
S RCR-I/O FLTR
DUE 03/25/2033 6,900
INTEREST PAYMENT 02-25-04		6.9000210,215.02
02/25/04FEDERAL NATIONAL MTG ASSN
SERIES 2003-49 CLASS SW
DUE 01/25/2033 5,900
INTEREST PAYMENT 02-25-04		5.900090,564.38
TOTAL-18,413.09$1,163,014.99
REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear, Stearns& Co.Inc.
SETTLEMENT DATETRADE DATETRANSACTIONDESCRIPTIONSYMBOL/CUSIPQUANTITYDEBIT AMOUNTCREDIT AMOUNT
02/02/04JOURNALFEDERAL NATIONAL MTG ASSN
STRIP MTG SERIES 322 CL PO
0,001 DUE 03/01/32
FITM A1
REPO AGREEMENT		-1,901,9061,477,000.00
02/02/04JOURNALFEDERAL NATIONAL MTG ASSN
STRIP MTG SERIES 322 CL PO
0,001 DUE 03/01/32
FITM A2
REPO AGREEMENT		1,901,9061,477,000.00
02/02/04JOURNALFEDERAL NATIONAL MTG ASSN
STRIP MTG SERIES 322 CL PO
0,001 DUE 03/01/32
FITM A3
REPO AGREEMENT		-1,901,9061,477,000.00
02/02/04JOURNALFEDERAL HOME LOAN MTG CORP
SERIES 2530 CLASS SE
6,300 DUE 02/15/32
FITM A2
TERM REPO AGREEMENT		20,255,032
027 02/28/04;11:32 001 EFTA00195941 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 11 of 18 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD January 31, 2004 THROUGH February 27, 2004 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | January 30, 2004 | | :--- | :--- |
SETTLEMENT DATETRADE DATETRANSACTIONDESCRIPTIONSYMBOL/CUSIPQUANTITYDEBIT AMOUNTCREDIT AMOUNT
02/02/04JOURNALFEDERAL HOME LOAN MTG CORP
SERIES 2530 CLASS SE
6,300 DUE 02/15/32
FITMARGN A2
TERM REPO AGREEMENT		3,272,253
02/02/04JOURNALFEDERAL HOME LOAN MTG CORP
SERIES 2530 CLASS SE
6,300 DUE 02/15/32
FITM A1B
REPO AGREEMENT		-648,96048,635.95
02/02/04JOURNALFEDERAL HOME LOAN MTG CORP
SERIES 2530 CLASS SE
6,300 DUE 02/15/32
FITM A3B
REPO AGREEMENT		-648,96048,635.95
02/02/04JOURNALFEDERAL HOME LOAN MTG CORP
SERIES 2530 CLASS SE
6,300 DUE 02/15/32
FITM A1
REPO AGREEMENT		-3,272,253245,000.00
02/02/04JOURNALFEDERAL HOME LOAN MTG CORP
SERIES 2530 CLASS SE
6,300 DUE 02/15/32
FITM A2
REPO AGREEMENT		3,272,253245,000.00
02/02/04JOURNALFEDERAL HOME LOAN MTG CORP
SERIES 2530 CLASS SE
6,300 DUE 02/15/32
FITM A1A
REPO AGREEMENT		-19,606,0711,469,364.04
02/02/04JOURNALFEDERAL HOME LOAN MTG CORP
SERIES 2530 CLASS SE
6,300 DUE 02/15/32
FITM A3A
REPO AGREEMENT		-19,606,0711,469,364.04
027 02/28/04;11:32 001 EFTA00195942 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 12 of 18 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD January 31, 2004 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) THROUGH February 27, 2004 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | January 30, 2004 | | :--- | :--- |
SETTLEMENT DATETRADE DATETRANSACTIONDESCRIPTIONSYMBOL/CUSIPQUANTITYDEBIT AMOUNTCREDIT AMOUNT
02/02/04JOURNALFEDERAL HOME LOAN MTG CORP
SERIES 2530 CLASS SE
5,300 DUE 02/15/32
FITM A2
REPO AGREEMENT		20,255,0321,518,000.00
02/02/04JOURNALFEDL HOME LOAN MTG CORP#S03602
SERIES 223 CLASS PO
DUE 12/01/32
FITM B1
REPO AGREEMENT		-3,187,7602,336,000.00
02/02/04JOURNALFEDL HOME LOAN MTG CORP#S03602
SERIES 223 CLASS PO
DUE 12/01/32
FITM B2
REPO AGREEMENT		3,187,7602,336,000.00
02/02/04JOURNALFEDL HOME LOAN MTG CORP#S03602
SERIES 223 CLASS PO
DUE 12/01/32
FITM B3
REPO AGREEMENT		-3,187,7602,336,000.00
02/02/04JOURNALFEDERAL NATIONAL MTG ASSN
SERIES 2003-49 CLASS SW
5,900 DUE 01/25/33
FITM A1
REPO AGREEMENT		-18,419,8761,551,000.00
02/02/04JOURNALFEDERAL NATIONAL MTG ASSN
SERIES 2003-49 CLASS SW
5,900 DUE 01/25/33
FITM A2
REPO AGREEMENT		18,419,8761,551,000.00
02/02/04JOURNALGOVERNMENT NATIONAL MTG ASSN
SERIES 2004-5 CLASS PS
5,810 DUE 02/20/33
FITM A1
REPO AGREEMENT		-44,000,0006,336,000.00
027 02/28/04;11:32 001 EFTA00195943 CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 13 of 18 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD January 31, 2004 THROUGH February 27, 2004 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | January 30, 2004 | | :--- | :--- | | 027 | 02/28/04;11:32 | 001 | V828 | | :--- | :--- | :--- | :--- | EFTA00195944 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 14 of 18 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD January 31,2004 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) THROUGH February 27, 2004 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | January 30, 2004 | | :--- | :--- |
SETTLEMENT DATETRADE DATETRANSACTIONDESCRIPTIONSYMBOL/CUSIPQUANTITYDEBIT AMOUNTCREDIT AMOUNT
02/06/04JOURNALFEDL HOME LOAN MTG CORP#S03602 SERIES 223 CLASS PO DUE 12/01/29 FITM BZ TERM REPO AGREEMENT3,139,3942,336,000.00
02/06/04JOURNALGOVERNMENT NATIONAL MTG ASSN SERIES 2004-2 CLASS SB 6,080 DUE 01/11/294 FITM AZ TERM REPO AGREEMENT44,389,962193,000.00
02/06/04JOURNALGOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS SB 6,080 DUE 01/11/294 FITM A1 REPO AGREEMENT-44,389,9621,952,000.00
02/06/04JOURNALGOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 5,810 DUE 02/22/03 FITM B1 REPO AGREEMENT-44,000,0006,209,000.00
02/06/04JOURNALGOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 5,810 DUE 02/22/03 FITM AZ TERM REPO AGREEMENT44,000,0006,336,000.00
02/06/04INTERESTFEDERAL NATIONAL MTG ASSN STRIP MTG SERIES 322 CL PO DUE 03/01/2032 0,001 FITM AZ REPO INTEREST213.34
02/06/04INTERESTFEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS SE DUE 02/15/2032 6,300 FITM AZB REPO INTEREST7.03
027 02/28/04;11:32 001 EFTA00195945 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 15 of 18 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD January 31, 2004 THROUGH February 27, 2004 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) AGCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | January 30, 2004 | | :--- | :--- | 027 02/28/04;11:32 001 EFTA00195946 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 16 of 18 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD January 31, 2004 THROUGH February 27, 2004 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | January 30, 2004 | | :--- | :--- |
SETTLEMENT DATETRADE DATETRANSACTIONDESCRIPTIONSYMBOL/CUSIPQUANTITYDEBIT AMOUNTCREDIT AMOUNT
02/11/04JOURNALGOVERNMENT NATIONAL MTG ASSN SERIES 2004-2 CLASS SB 6,080 DUE 03/01/2032 FITM REPO AGREEMENT-44,389,9622,000,000.00
02/11/04INTERESTFEDERAL NATIONAL MTG ASSN STRIP MTG SERIES 322 CL PO DUE 03/01/2032 0,001 FITM REPO INTEREST257.11
02/11/04INTERESTFEDERAL NATIONAL MTG ASSN STRIP MTG SERIES 322 CL PO DUE 03/01/2032 0,001 FITM REPO INTEREST257.11
02/11/04INTERESTGOVERNMENT NATIONAL MTG ASSN SERIES 2004-2 CLASS SB DUE 01/16/2034 6,080 FITM REPO INTEREST352.44
02/27/04JOURNALFEDERAL NATIONAL MTG ASSN STRIP MTG SERIES 322 CL PO 0,001 DUE 03/01/32 FITM TERM DEPO AGREEMENT1,850,6201,424,000.00
02/27/04JOURNALFEDERAL NATIONAL MTG ASSN STRIP MTG SERIES 322 CL PO 0,001 DUE 03/01/32 FITM REPO AGREEMENT-5,551,8604,362,000.00
02/27/04JOURNALFEDERAL NATIONAL MTG ASSN STRIP MTG SERIES 322 CL PO 0,001 DUE 03/01/32 FITM REPO AGREEMENT5,551,8604,362,000.00
027 02/28/04;11:32 001 EFTA00195947 CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 17 of 18 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD January 31, 2004 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) THROUGH February 27, 2004 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | January 30, 2004 | | :--- | :--- |
SETTLEMENT DATETRADE DATETRANSACTIONDESCRIPTIONSYMBOL/CUSIPQUANTITYDEBIT AMOUNTCREDIT AMOUNT
02/27/04JOURNALFEDERAL NATIONAL MTG ASSN
STRIP MTG SERIES 322 CL PO
0,001 DUE 03/01/2022
FITM REPO AGREEMENT		-5,551,8604,362,000.00
02/27/04JOURNALFEDL HOME LOAN MTG CORP#S03602
SERIES 223 CLASS PO
DUE 12/01/2022
FITM REPO AGREEMENT		-1,610,5091,205,000.00
02/27/04JOURNALFEDL HOME LOAN MTG CORP#S03602
SERIES 223 CLASS PO
DUE 12/01/2022
FITM REPO AGREEMENT		1,610,5091,205,000.00
02/27/04JOURNALFEDL HOME LOAN MTG CORP#S03602
SERIES 223 CLASS PO
DUE 12/01/2022
FITM REPO AGREEMENT		-2,112,8121,580,000.00
02/27/04JOURNALFEDL HOME LOAN MTG CORP#S03602
SERIES 223 CLASS PO
DUE 12/01/2022
FITM TERM REPO AGREEMENT		3,139,3942,277,000.00
02/27/04INTERESTFEDERAL NATIONAL MTG ASSN
STRIP MTG SERIES 322 CL PO
DUE 03/01/2022 0,001
FITM REPO INTEREST		1,079.87
02/27/04INTERESTFEDL HOME LOAN MTG CORP#S03602
SERIES 223 CLASS PO
DUE 12/01/2022 0,000
FITM REPO INTEREST		1,726.73
TOTAL-$31,636,115.32$47,857,610.99
027 02/28/04;11:32 001 EFTA00195948 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 18 of 18 ## **Transaction Detail** (continued) ## MISCELLANEOUS
DATE MO/DAYTRANSACTIONDESCRIPTIONDEBIT AMOUNTCREDIT AMOUNT
02/05/04JOURNALFITG FITM12,615.00
02/09/04JOURNALFITM FITO54,687.00
02/12/04JOURNALJAN. 04 SPEC CLEARING FEES450.00
TOTAL-55,137.00$12,615.00
## Your messages Excess SIPC Account Protection Update Effective February 16, 2004, the commercial insurer through which Bear, Stearns Securities Corp. obtains excess SIPC protection changed to Customer Asset Protection Company ("CAPCO"), a New York licensed insurance company. CAPCO has an A+ financial strength rating from Standard & Poor's. CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY ******* End of Statement******* FINANCIAL TRUST CO INC STATEMENT PERIOD January 31,2004 THROUGH February 27, 2004 AGCOUNT NUMBER | LAST STATEMENT | January 30, 2004 | | :--- | :--- | TAXPAYER NUMBER On File 027 02/28/04;11:32 001