EFTA00195971

<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 4





<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



## Your Portfolio at a Glance



<table border="1"><tr><td>NET CREDIT BALANCE</td><td>132,001</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$132,001</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>114,805</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>17,196</td></tr></table>

ACCOUNT NUMBER

TAXPAYER NUMBER On File

FINANCIAL TRUST CO INC

| LAST STATEMENT | September 30, 2005 |

| :--- | :--- |

STATEMENT PERIOD October 1, 2005

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

THROUGH October 31, 2005

Market Value of Your Portfolio

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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Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$114,805.20</td></tr><tr><td>Securities Sold</td><td>119,604,887.50</td></tr><tr><td>Dividends/Interest</td><td>521.39</td></tr><tr><td>Miscellaneous</td><td>152,754.39</td></tr><tr><td>Amount Credited</td><td>$119,758,163.28</td></tr><tr><td>Securities Bought</td><td>-100,472,656.25</td></tr><tr><td>Funds Withdrawn</td><td>-63,185.00</td></tr><tr><td>Miscellaneous</td><td>-19,205,126.00</td></tr><tr><td>Amount Debited</td><td>$-119,740,967.25</td></tr><tr><td>Net Cash Activity</td><td>17,196.03</td></tr><tr><td>Closing Balance</td><td>$132,001.23</td></tr></table>

Income Summary

<table border="1"><tr><td></td><td>THIS PERIOD</td><td>YEAR TO DATE</td></tr><tr><td>U.S.Govt.Bond Int.</td><td>0.00</td><td>4,718,243.44</td></tr><tr><td>Govt.Agency Int.</td><td>0.00</td><td>6,167,659.06</td></tr><tr><td>Corp.Bond Int.</td><td>0.00</td><td>1,279,184.80</td></tr><tr><td>Credit Balance Int.</td><td>521.39</td><td>6,795.78</td></tr><tr><td>Reverse Repurchase Int.</td><td>32,231.25</td><td>1,636,307.17</td></tr><tr><td>Total</td><td>$32,752.64</td><td>$13,808,190.25</td></tr><tr><td>Bond Purchase Int.</td><td>0.00</td><td>-6,596,679.06</td></tr><tr><td>Repurchase Int. Exp.</td><td>0.00</td><td>-1,761,173.79</td></tr></table>

Cash Balance Summary

Portfolio Composition

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Margin</td><td>114,805.20</td><td>132,001.23</td></tr><tr><td>Net Cash Balance</td><td>$114,805.20</td><td>$132,001.23</td></tr></table>

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>132,001</td></tr><tr><td>Total</td><td>$132,001</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY





FINANCIAL TRUST CO INC



STATEMENT PERIOD October 1, 2005



THROUGH October 31, 2005



ACCOUNT NUMBER



| LAST STATEMENT | September 30, 2005 |

| :--- | :--- |

Your Portfolio Allocation

TAXPAYER NUMBER On File

EFTA00195974



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.

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CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



## 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>132,001</td><td></td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$132,001</td><td></td><td></td></tr></tbody></table>

FINANCIAL TRUST CO INC

<table><thead><tr><th>YOUR PRICED PORTFOLIOHOLDINGS</th><th>$132,001</th></tr></thead></table>

STATEMENT PERIOD October 1, 2005

THROUGH October 31, 2005



ACCOUNT NUMBER



## INVESTMENT ACTIVITY

TAXPAYER NUMBER On File

| LAST STATEMENT | September 30, 2005 |

| :--- | :--- |



Transaction Detail


<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>10/13/05</td><td>09/16/05</td><td>BOUGHT</td><td>FNMA-30YR(FNMA)GTD SETT,10/05 DUE 10/01/2035 05,500% REF # 2005091657250000 BS</td><td></td><td>50,000,000</td><td>100.32031</td><td>50,160,156.25</td><td></td></tr><tr><td>10/13/05</td><td>09/07/05</td><td>CANCEL SELL</td><td>FNMA-30YR(FNMA)GTD SETT,10/05 DUE 10/01/2035 05,500% REF # 2005090757170000 BS AS OF 09/07/05 TO CXL PREVIOUS SELL</td><td></td><td>50,000,000</td><td>100.62500</td><td>50,312,500.00</td><td></td></tr></tbody></table>

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OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.



CLEARED THROUGH ITS
WHOLLY OWNED SUBSDIARY


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FINANCIAL TRUST CO INC

## Transaction Detail (continued)

STATEMENT PERIOD October 1, 2005

## INVESTMENT ACTIVITY (continued)

<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>10/13/05</td><td>09/16/05</td><td>CANCEL BUY</td><td>FNMA-30YR(FNMA)GTD<br>SETT,10/05<br>DUE 10/01/2035,05,500%<br>REF # 2005091657250000 BS<br>AS OF 09/16/05<br>TO CXL PREVIOUS BUY</td><td></td><td>-50,000,000</td><td>100.32031</td><td></td><td>50,160,156.25</td></tr><tr><td>10/13/05</td><td>09/07/05</td><td>SOLD</td><td>FNMA-30YR(FNMA)GTD<br>SETT,10/05<br>DUE 10/01/2035,05,500%<br>REF # 2005090757170000 BS</td><td></td><td>-50,000,000</td><td>100.62500</td><td></td><td>50,312,500.00</td></tr></tbody></table>

## DEPOSITS AND WITHDRAWALS

<table><thead><tr><th>DATE</th><th>TRANSACTION</th><th>DESCRIPTION</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>10/12/05</td><td>FND WIRED</td><td>MDA# FNDS WIRED TO RANKAMERICA INTERNATIONAL</td><td>63,185.00</td><td></td></tr><tr><td colspan="3">TOTAL</td><td>-63,185.00</td><td></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>10/03/05</td><td>AVG BAL 224,631RT 2.785<br>021 OFFICE INTEREST 0905</td><td></td><td></td><td></td><td></td><td>521.39</td></tr><tr><td colspan="7">TOTAL</td><td>$521.39</td></tr></tbody></table>

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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



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FINANCIAL TRUST CO INC

## **Transaction Detail** (continued)

STATEMENT PERIOD October 1, 2005

THROUGH October 31, 2005

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



ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | September 30, 2005 |

| :--- | :--- |

<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>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>10/14/</td><td></td><td>JOURNAL</td><td>ADP CD<br>FITM-PR F263321901D<br>8,625 DUE 12/31/49</td><td></td><td></td><td></td><td>19,100,000.00</td></tr><tr><td>10/14/</td><td></td><td>INTEREST</td><td>ADP CD<br>DUE 12/31/2049 8,625<br>FITM-PR F263321901D</td><td></td><td></td><td></td><td>32,231.25</td></tr><tr><td colspan="7">TOTAL</td><td>$19,132,231.25</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>10/06/05</td><td>JOURNAL</td><td>FR CMDY A/C</td><td></td><td>410.64</td></tr><tr><td>10/13/05</td><td>JOURNAL</td><td>FNMA-30YR(FNMA)GTD<br>SETT,10/05<br>5,500 DUE 10/01/35<br>MBS NET 10/13/05</td><td></td><td>152,343.75</td></tr><tr><td>10/17/05</td><td>JOURNAL</td><td>FINAL REDEMPTION</td><td>19,203,776.00</td><td></td></tr><tr><td>10/21/05</td><td>JOURNAL</td><td>9/05 SPEC PART 2 CLR FEES</td><td>1,350.00</td><td></td></tr><tr><td colspan="3">TOTAL</td><td>-19,205,126.00</td><td>$152,754.39</td></tr></tbody></table>



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


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