Financial record, 2005-07

EFTA00196048¶

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

7

Trades Not Yet Settled … 31¶

FINANCIAL TRUST CO INC

C/O JEFFREY EPSTEIN

6100 RED HOOK QUARTER

ST B3

ST THOMAS VI 00802

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSIDIARY¶

Your Portfolio at a Glance¶

TOTAL VALUE OF SECURITIES THIS PERIOD	3,204,048
LONG ACCRUED INTEREST	25,795
NET CREDIT BALANCE	11,712
NET EQUITY THIS PERIOD	$3,241,555
NET EQUITY LAST STATEMENT	3,835,574
CHANGE SINCE LAST STATEMENT	-594,020

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

FINANCIAL TRUST CO INC¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

ACCOUNT NUMBER¶

STATEMENT PERIOD July 1, 2005¶

Market Value of Your Portfolio¶

THROUGH July 29, 2005¶

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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STATEMENT BACKER IS PRINTED ON THIS PAGE¶

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Cash Flow Analysis¶

	THIS PERIOD
OpeningBalance	$359,965.49
Securities Sold	854,425,255.21
Dividends/Interest	1,211,189.06
Miscellaneous	1,113,665.86
Amount Credited	$856,750,110.13
Securities Bought	-855,443,996.18
Funds Withdrawn	-71,745.00
Dividends/Interest Charged	-491,945.30
Miscellaneous	-1,090,677.37
Amount Debited	$-857,098,363.85
Net Cash Activity	-348,253.72
Closing Balance	$11,711.77

Cash Balance Summary¶

Income Summary¶

	OPENING	CLOSING
Margin	359,965.49	11,711.77
Net Cash Balance	$359,965.49	$11,711.77

	THIS PERIOD	YEAR TO DATE
U.S.Govt.Bond Int.	554,343.02	4,236,006.89
Govt.Agency Int.	497,289.51	4,609,911.42
Corp.Bond Int.	175,881.40	968,584.32
Credit Balance Int.	779.00	4,324.51
Reverse Repurchase Int.	0.00	1,163,243.87
Total	$1,228,292.93	$10,982,071.01
Bond Purchase Int.	-491,945.30	-5,640,653.48
Repurchase Int. Exp.	0.00	-1,098,448.85

Portfolio Composition¶

Cash/Cash Equivalent	11,712
Fixed Income	3,204,048
Total	$3,215,760

STATEMENT PERIOD July 1, 2005¶

FINANCIAL TRUST CO INC¶

THROUGH July 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

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.¶

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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¶

Your Portfolio Holdings¶

CASH & CASH EQUIVALENTS¶

STATEMENT PERIOD July 1, 2005¶

THROUGH July 29, 2005¶

DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CASH BALANCE				11,712
TOTAL CASH & CASH EQUIVALENTS				$11,712

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

FIXED INCOME¶

Government & Agency Obligations¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ACCRUED INTEREST	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
GOVERNMENT NATIONAL MTG ASSN SERIES 2004-035 CLASS SP DATED DATE 05/21/04 BOOK ENTRY ONLY DUE 12/20/2029 3,770% FACTOR = .89865757		MRGN	14,635,047	5.8146	850,969	13,794	551,741	64.8368
GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-041 CLASS SE DATED DATE 06/23/04 BOOK ENTRY ONLY DUE 05/20/2030 FACTOR = .91247898		MRGN	14,656,693	6.0902	892,616
FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW DATED DATE 04/30/03 BOOK ENTRY ONLY DUE 01/25/2033 3,540% FACTOR = .50139372		MRGN	12,187,256	7.4140	903,557	4,793	431,429	47.7478
Total Government& Agency Obligations					$2,647,142	$18,587	$983,170

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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¶

Your Portfolio Holdings (continued)¶

STATEMENT PERIOD July 1, 2005¶

Corporate Bonds¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ACCRUED INTEREST	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
ALTERNATIVE LOAN TRUST		MRGN	36,349,667	1.5321	556,906	7,208	648,842	116.5084
SERIES 2004-30CB CLASS 1-A-8 DATED DATE 12/27/04 BOOK ENTRY ONLY DUE 02/25/2035 1,785% FACTOR = .90874168 RATING: MOODY AAA S&P AAA
Total CorporateBonds					$556,906	$7,208	$648,842
TOTAL FIXED INCOME					$3,204,048	$25,795	$1,632,012

YOUR PORTFOLIOHOLDINGSACCRUED INTEREST	$25,795
YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME	$1,632,012
YOUR PRICED PORTFOLIOHOLDINGS	$3,215,760

Repurchase and Reverse Repurchase Transactions¶

with Bear, Stearns& Co.Inc.outstanding as of date of statement¶

	PURCHASE/ START DATE	REPURCHASE DATE	PRICING RATE	PURCHASE PRICE/ PRINCIPAL	ACCRUED REPO INTEREST*	QUANTITY (FACE AMOUNT)	CUSIP	DESCRIPTION
YOU SOLD (REPO)	06/27/05	OPEN	0.010	-1		-27,112,874		GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-30 CLASS 3.7700 02/20/32
YOU SOLD (REPO)	06/27/05	OPEN	0.010	-1		-5,724,538		FEDERAL HOME LOAN MTG CORP SERIES 2886 CLASS SC 3.9118 07/15/19
YOU SOLD (REPO)	06/30/05	08/01/05	3.540	-6,373,000	-20,053	-10,000,000		FANNIE MAE STRIPS SERIES 352 CLASS PO 07/01/34

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Repurchase and Reverse Repurchase Transactions (continued)¶

| STATEMENT PERIOD | July 1, 2005 |¶

| :--- | :--- |¶

| THROUGH | July 29, 2005 |¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

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STATEMENT PERIOD July 1, 2005¶

Repurchase and Reverse Repurchase Transactions (continued)¶

THROUGH July 29, 2005¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

	PURCHASE/ START DATE	REPURCHASE DATE	PRICING RATE	PURCHASE PRICE/ PRINCIPAL	ACCRUED REPO INTEREST*	QUANTITY (FACE AMOUNT)	CUSIP	DESCRIPTION
YOU SOLD (REPO)	07/18/05	08/18/05	3.630	-13,954,000	-19,698	-23,000,000		FANNIE MAE STRIPS SERIES 352 CLASS PO 07/01/34
YOU PROVIDED (MARGIN)	07/29/05	OPEN	0.000			-50,000,000		FEDERAL NATIONAL MTG ASSOC SERIES 2003-13 CLASS 4.5400 03/25/33
YOU SOLD (REPO)	07/29/05	08/29/05	3.720	-96,000	-29	-500,000		FEDERAL HOME LOAN STRIP SERIES 227 CLASS IO 5.0000 12/01/34
YOU PROVIDED (MARGIN)	07/29/05	OPEN	0.000			-9,500,000		FEDERAL HOME LOAN STRIP SERIES 227 CLASS IO 5.0000 12/01/34
YOU BOUGHT (REVERSE)	07/22/05	OPEN	2.640	10,025,000	6,970	10,000,000		USTR 4.1250 05/15/15
TOTAL REVERSE REPURCHASE TRANSACTIONS				$10,025,000	$6,970
TOTAL REPURCHASE TRANSACTIONS				$-61,340,002	$-122,828

As of statement date¶

Transaction Detail¶

INVESTMENT ACTIVITY¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/01/05	06/30/05	SOLD	UNITED STATES TREASURY NOTE DUE 06/30/2007 03,625% JD 30 YIELD 3,626 % TO MATURITY GVER REF # G1813788 B1		-15,000,000	99.99770		14,999,655.00
						ACCR. INT.		1,477.58

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FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH July 29, 2005¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/01/05	06/30/05	SOLD	UNITED STATES TREASURY NOTE DUE 06/30/2007, 03,625% JD 30 YIELD 3,626 % TO MATURITY GVER REF # G1813788 A1		-50,000,000	99.99770		49,998,850.00
07/01/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 5,000 DUE 07/01/34 ADJUST POSITION		-1			4,925.27
07/01/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 5,000 DUE 07/01/34		-1
07/05/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 5,000 DUE 07/01/34		1
07/06/05	07/05/05	SOLD	UNITED STATES TREASURY NOTE DUE 05/15/2015, 04,125% MN 15 YIELD 4,108 % TO MATURITY GVER REF # G1864824 A1		-15,000,000	100.13281 ACCR. INT.		15,019,921.87 87,432.07
07/06/05	07/05/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 06/31/2007, 03,600% MN 31 Yield 3,780 % TO MATURITY GVER REF # G1864858 A1		6,000,000 ACCR. INT.	99.48828 ACCR. INT.
07/07/05	07/06/05	SOLD	UNITED STATES TREASURY NOTE DUE 05/15/2015, 04,125% MN 15 Yield 4,082 % TO MATURITY GVER REF # G1872700 A1		-10,000,000	100.34375 ACCR. INT.		10,034,375.00 59,408.97
07/11/05	07/08/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 05/15/2015, 04,125% MN 15 Yield 4,081 % TO MATURITY GVER REF # G1894318 A1		15,000,000 ACCR. INT.	100.35156 ACCR. INT.		15,052,734.37 95,839.00

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FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH July 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/11/05	07/08/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 05/31/2007 03,500% MN 31 SPECIAL INSTRUCTIONS YIELD 3,762 % TO MATURITY GVER REF # G1893571 A3 WWEB		28,000,000 ACCR. INT.	99.52344	27,866,562.50
07/11/05	07/08/05	SOLD	UNITED STATES TREASURY NOTE DUE 06/30/2007 03,625% JD 30 SPECIAL INSTRUCTIONS YIELD 3,751 % TO MATURITY GVER REF # G1893570 A3 WWEB		-28,000,000	99.76172 ACCR. INT.		27,933,281.25 30,339.67
07/12/05	07/11/05	SOLD	UNITED STATES TREASURY NOTE DUE 06/15/2015 04,125% MN 15 YIELD 4,122 % TO MATURITY GVER REF # G1923743 A1		-15,000,000	100.01563 ACCR. INT.		15,002,343.75 97,520.38
07/14/05	06/06/05	CANCEL SELL	FINMA 30YR TBA GTD SETT, 07/05 DUE 07.01/2035 05,000%		15,000,000	99.59375	14,939,062.50
07/14/05	06/07/05	CANCEL SELL	FINMA 30YR TBA GTD SETT, 07/05 DUE 07.01/2035 05,000%		15,000,000	99.59375	14,939,062.50
07/14/05	06/03/05	BOUGHT	FINMA 30YR TBA GTD SETT, 07/05 DUE 07.01/2035 05,000%		15,000,000	100.21875	15,032,812.50

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FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH July 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/14/05	05/06/05	CANCEL SELL	FNMA 30YR TBA GTD SETT, 07/05 DUE 07/01/2035 05,000% REF # 200505057440000 BS AS OF 05/06/05 TO CXL PREVIOUS SELL		30,000,000	98.51953	29,555,859.38
07/14/05	06/23/05	BOUGHT	FNMA 30YR TBA GTD SETT, 07/05 DUE 07/01/2035 05,000% REF # 2005052357210000 BS		30,000,000	99.96094	29,988,281.25
07/14/05	06/06/05	SOLD	FNMA 30YR TBA GTD SETT, 07/05 DUE 07/01/2035 05,000% REF # 2005060757140000 BS AS OF 06/06/05		-15,000,000	99.59375	14,939,062.50
07/14/05	06/07/05	SOLD	FNMA 30YR TBA GTD SETT, 07/05 DUE 07/01/2035 05,000% REF # 2005060757140000 BS		-15,000,000	99.59375	14,939,062.50
07/14/05	06/03/05	CANCEL BUY	FNMA 30YR TBA GTD SETT, 07/05 DUE 07/01/2035 05,000% REF # 2005060357110000 BS AS OF 06/03/05 TO CXL PREVIOUS BUY		-15,000,000	100.21875	15,032,812.50
07/14/05	05/06/05	SOLD	FNMA 30YR TBA GTD SETT, 07/05 DUE 07/01/2035 05,000% REF # 200505057440000 BS		-30,000,000	98.51953	29,555,859.38

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FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH July 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/14/05	06/23/05	CANCEL BUY	FNMA 30YR TBA GTD SETT, 07/05 DUE 07/01/2035 05,500% REF # 2005052357210000 BS AS OF 06/23/05 TO CXL PREVIOUS BUY		-30,000,000	99.96094		29,988,281.25
07/14/05	05/06/05	CANCEL SELL	FNMA-30YR(FNMA)GTD SETT, 07/05 DUE 07/01/2035 05,500% REF # 2005052357450000 BS AS OF 05/06/05 TO CXL PREVIOUS SELL		30,000,000	100.51563	30,154,687.50
07/14/05	05/19/05	BOUGHT	FNMA-30YR(FNMA)GTD SETT, 07/06 DUE 07/01/2035 05,500% REF # 2005051957050000 BS		30,000,000	100.86719	30,260,156.25
07/14/05	05/23/05	BOUGHT	FNMA-30YR(FNMA)GTD SETT, 07/06 DUE 07/01/2035 05,500% REF # 2005052357100000 BS		30,000,000	101.00000	30,300,000.00
07/14/05	07/07/05	BOUGHT	FNMA-30YR(FNMA)GTD SETT, 07/05 DUE 07/01/2035 05,500% REF # 2005070757300000 BS		30,000,000	101.11719	30,335,156.25
07/14/05	05/26/05	CANCEL SELL	FNMA-30YR(FNMA)GTD SETT, 07/05 DUE 07/01/2035 05,500% REF # 2005052357180000 BS AS OF 05/26/05 TO CXL PREVIOUS SELL		60,000,000	100.95313	60,571,875.00

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Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH July 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/14/05	05/06/05	SOLD	FNMA-30YR(FNMA)GTD SETT,07/06 DUE 07/01/2035, 05,500% REF # 20050505745000 BS		-30,000,000	100.51563		30,154,687.50
07/14/05	05/19/05	CANCEL BUY	FNMA-30YR(FNMA)GTD SETT,07/05 DUE 07/01/2035, 05,500% REF # 200505195705000 BS AS OF 05/19/05 TO CXL PREVIOUS BUY		-30,000,000	100.86719		30,260,156.25
07/14/05	05/23/05	CANCEL BUY	FNMA-30YR(FNMA)GTD SETT,07/05 DUE 07/01/2035, 05,500% REF # 200505235710000 BS AS OF 05/23/05 TO CXL PREVIOUS BUY		-30,000,000	101.00000		30,300,000.00
07/14/05	07/07/05	CANCEL BUY	FNMA-30YR(FNMA)GTD SETT,07/05 DUE 07/01/2035, 05,500% REF # 2005070757300000 BS AS OF 07/07/05 TO CXL PREVIOUS BUY		-30,000,000	101.11719		30,335,156.25
07/14/05	05/26/05	SOLD	FNMA-30YR(FNMA)GTD SETT,07/06 DUE 07/01/2035, 05,500% REF # 2005052657180000 BS		-60,000,000	100.95313		60,571,875.00
07/14/05	06/06/05	BOUGHT	FNMA 30 YR GTD SETT,07/05 DUE 07/01/2035, 06,000% REF # 2005060757180000 BS AS OF 06/06/05		50,000,000	102.60547	51,302,734.38

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Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH July 29, 2005¶

ACCOUNT NUMBER¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/14/05	06/03/05	CANCEL SELL	FNMA 30 YR GTD SETT, 07/05 DUE 07.01/2035 06,000% REF # 2005060357070000 BS AS OF 06/03/05 TO CXL PREVIOUS SELL		50,000,000	102.79688	51,398,437.50
07/14/05	06/06/05	CANCEL BUY	FNMA 30 YR GTD SETT, 07/05 DUE 07.01/2035 06,000% REF # 2005060757180000 BS AS OF 06/06/05 TO CXL PREVIOUS BUY		-50,000,000	102.60547		51,302,734.38
07/14/05	06/03/05	SOLD	FNMA 30 YR GTD SETT, 07/05 DUE 07.01/2035 06,000% REF # 2005060357070000 BS		-50,000,000	102.79688		51,398,437.50
07/15/05	07/14/05	SOLD	UNITED STATES TREASURY NOTE DUE 06/15/2015 04,125% MN 15 YIELD 4,179 % TO MATURITY GVER REF # G1953286 A1		-3,000,000	99.56250 ACCR. INT.		2,986,875.00 20,512.91
07/15/05		JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-IO FLTR 3,785 DUE 07/25/17 ADJUST POSITION		-1
07/15/05		JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-IO FLTR 3,785 DUE 07/25/17		-1
07/18/05		JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-IO FLTR 3,785 DUE 07/25/17		1

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Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH July 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/20/05	07/19/05	SOLD	UNITED STATES TREASURY NOTE DUE 05/14/2015 04,125% MN 15 YIELD 4,232 % TO MATURITY GVER REF # G2002321 A1		-5,000,000	99.14063		4,957,031.25
						ACCR. INT.		36,990.49
07/20/05		PRINCIPAL	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-035 CLASS SP 3,940 DUE 12/2020 PRINCIPAL REDUCTN 07-20-05		-159,999
07/20/05		PRINCIPAL	GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-041 CLASS SE DUE 08/2020 PRINCIPAL REDUCTN 07-20-05		-145,015
07/22/05	07/21/05	SOLD	UNITED STATES TREASURY NOTE DUE 04/LM/2015 04,125% MN 15 YIELD 4,232 % TO MATURITY GVER REF # G2025180 A1		-5,000,000	98.93750		4,946,875.00
						ACCR. INT.		38,111.41
07/25/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP PRIN R/D 06-05 P/D 07-25-05 REPO P & I 0,0000					118,834.50
07/25/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP PRIN R/D 06-05 P/D 07-25-05 REPO P & I 0,0000					356,503.50
07/25/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW 3,685 DUE 01/25/33 PRINCIPAL REDUCTN 07-25-05		-301,362

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FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

THROUGH July 29, 2005¶

INVESTMENT ACTIVITY (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/25/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 PRIN R/D 06-05 PID 07-25-05 REPO P & I 0,0000					159,318.90
07/25/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 PRIN R/D 06-05 PID 07-25-05 REPO P & I 0,0000					318,637.80
07/25/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 0,001 DUE 07/01/34 PRIN R/D 06-05 PID 07-25-05 REPO P & I 0,0000					219,038.40
07/25/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 0,001 DUE 07/01/34 PRIN R/D 06-05 PID 07-25-05 REPO P & I 0,0000					503,788.32
07/25/05		PRINCIPAL	ALTERNATIVE LOAN TRUST SERIES 2004-3008 CLASS 1-A-8 1-PRIS DUE 02/26/38 PRINCIPAL REDUCTN 07-25-05		-704,874
07/29/05	07/28/05	BOUGHT	UNITED STATES TREASURY NOTE DUE #D60102007 03,625% JD 30 YIELD = $3,978 TO MATURITY GVER REF # G2094228 A3 AS OF 07/28/05		20,000,000 ACCR. INT.	99,37220	19,874,440.00 57,133.15
07/29/05	07/28/05	BOUGHT	UNITED STATES TREASURY NOTE DUE #D60102007 03,625% JD 30 Yield = $3,978 TO MATURITY GVER REF # G2094228 B1		23,000,000 ACCR. INT.	99,35156	22,850,859.38 65,703.12

027¶

07/30/05;10:09 001¶

EFTA00196063¶

BEAR STEARNS¶

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

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

16 of 32¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

THROUGH July 29, 2005¶

INVESTMENT ACTIVITY (continued)¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/29/05	07/28/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 06/30/2007 03,625% JD 30		50,000,000	99.35156	49,675,781.25
			WELD 3,978 % TO MATURITY GVER REF # G2092992 A1		ACCR. INT.		142,832.88

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

DEPOSITS AND WITHDRAWALS¶

DATE	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
07/13/05	FND WIRED	MDA# FNDSWIRED TO BANK OF AMERICA N.A. NJ	71,745.00
TOTAL			-71,745.00

INTEREST¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
07/01/05	AVG BAL 425,265RT 2.198 021 OFFICE INTEREST 0605					779.00
07/15/05	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS I0 DUE 12/01/2034 5,000 INT R/D 06-05 P/D 07-15-05 REPO P & I 5,0000			5.0000		39,803.51
07/15/05	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS I0 DUE 12/01/2034 5,000 INT R/D 06-05 P/D 07-15-05 REPO P & I 5,0000			5.0000		79,607.03

027¶

07/30/05;10:09 001¶

EFTA00196064¶

BEAR STEARNS¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

17 of 32¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

INTEREST (continued)¶

THROUGH July 29, 2005¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
07/15/05	FREEDIE MAC CMO/SERIES 2886 SC/O FLTR DUE 07/15/2019 4,080 INT R/D 06-05 P/D 07-15-05 REPO P & I 4,0800			4.0800		12,000.87
07/15/05	FREEDIE MAC CMO/SERIES 2886 SC/O FLTR DUE 07/15/2019 4,080 INT R/D 06-05 P/D 07-15-05 REPO P & I 4,0800			4.0800		17,174.86
07/15/05	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS ID DUE 02/01/2035 6,000 INT R/D 06-05 P/D 07-15-05 REPO P & I 6,0000			6.0000		89,798.51
07/20/05	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS DUE 02/20/2033 6,000 INT R/D 06-05 P/D 07-20-05 REPO P & I 3,6900			3.6900		54,120.00
07/20/05	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS DUE 02/20/2033 3,690 INT R/D 06-05 P/D 07-20-05 REPO P & I 3,6900			3.6900		81,180.00
07/20/05	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-30 CLASS SU DUE 02/20/2032 3,940 INT R/D 06-05 P/D 07-20-05 REPO P & I 3,9400			3.9400		80,213.91
07/20/05	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-036 CLASS SP DUE 12/20/2029 3,940 INTEREST PAYMENT 07-20-05			3.9400		48,577.07
07/20/05	GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-041 CLASS SE DUE 05/20/2030 0,000 INTEREST PAYMENT 07-20-05					48,598.94

027	07/30/05;10:09	001	V895

EFTA00196065¶

BEAR STEARNS¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶

18 of 32¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

INTEREST (continued)¶

THROUGH July 29, 2005¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
07/25/05	FANNIE MAE CMO/SERIES 2003-13 S ROR-I/O FLTR DUE 03/25/2033 4,685 INT R/D 06-05 P/D 07-25-05 REPO P & I 4,6856			4.6850		48,392.65
07/25/05	FANNIE MAE CMO/SERIES 2003-13 S ROR-I/O FLTR DUE 03/25/2033 4,685 INT R/D 06-05 P/D 07-25-05 REPO P & I 4,6856			4.6850		48,392.65
07/25/05	FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW DUE 01/25/2033 3,685 INTEREST PAYMENT 07-25-05			3.6850		38,356.92
07/25/05	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR DUE 07/25/2017 3,785 INT R/D 06-05 P/D 07-25-05 REPO P & I 3,7856			3.7850		23,816.25
07/25/05	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR DUE 07/25/2017 3,785 INT R/D 06-05 P/D 07-25-05 REPO P & I 3,7856			3.7850		30,311.59
07/25/05	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 DUE 07/01/2034 5,000 INT R/D 06-05 P/D 07-25-05 REPO P & I 5,0000			5.0000		38,209.31
07/25/05	ALTERNATIVE LOAN TRUST SERIES 2004-30CB CLASS 1-A-8 DUE 02/25/2035 1,785 INTEREST PAYMENT 07-25-05			1.7850		55,137.24
TOTAL						$834,470.31

027¶

07/30/05;10:09 001¶

V895¶

EFTA00196066¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

19 of 32¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

THROUGH July 29, 2005¶

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

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
07/01/05		RECEIVED	UNITED STATES TREASURY NOTE DUE 06/30/2007 3,625 DUE 06/30/07 FITM RESALE AGREEMENT		65,000,000	65,162,500.00
07/06/05		JOURNAL	UNITED STATES TREASURY NOTE FITM A1 4,125 DUE 05/19/15 REPO AGREEMENT		-13,000,000		13,097,500.00
07/06/05		JOURNAL	UNITED STATES TREASURY NOTE FITM A2 4,125 DUE 05/19/15 TERM REPO AGREEMENT		28,000,000	28,210,000.00
07/06/05		RECEIVED	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 DUE 05/31/07 FITM RESALE AGREEMENT		28,000,000	28,035,000.00
07/06/05		DELIVERED	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 3,500 DUE 05/31/07 FITM A2 TERM RESALE AGREEMENT		-34,000,000		34,127,500.00
07/06/05		INTEREST	UNITED STATES TREASURY NOTE DUE 05/15/2015 4,125 FITM REPO INTEREST			28,304.03
07/06/05		INTEREST	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 INTEREST				21,149.57
07/07/05		JOURNAL	UNITED STATES TREASURY NOTE FITM A1 4,125 DUE 05/19/15 REPO AGREEMENT		-3,000,000		3,022,500.00

027¶

07/30/05;10:09 001¶

EFTA00196067¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

20 of 32¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

THROUGH July 29, 2005¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

027¶

07/30/05;10:09 001¶

EFTA00196068¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

21 of 32¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

THROUGH July 29, 2005¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
07/11/05		INTEREST	UNITED STATES TREASURY NOTE DUE 05/31/2002 FITM INTEREST				8,099.00
07/11/05		INTEREST	UNITED STATES TREASURY NOTE DUE 06/20/2002 FITM INTEREST				47,749.63
07/12/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRP FITM REPO AGREEMENT		-4,805,740		3,562,000.00
07/12/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRP FITM TERM REPO AGREEMENT		4,805,740	3,652,000.00
07/12/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRP FITM A1 REPO AGREEMENT		-14,417,221		10,686,000.00
07/12/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRP FITM A2 TERM REPO AGREEMENT		14,417,221	11,102,000.00
07/12/05		JOURNAL	FANNIE MAE CMO/SERIES 2003-13 3 ROP/10 FTR 4,685 DUE 03/25/33 FITM REPO AGREEMENT		-12,393,489		946,000.00

027¶

07/30/05;10:09 001¶

EFTA00196069¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

22 of 32¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

THROUGH July 29, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
07/12/05	JOURNAL	FANNIE AAE CMO/SERIES 2003-13 S RCR-I/O FLTR 4,685 DUE 03/25/33 FTIM TERM REPO AGREEMENT		12,393,489	984,000.00
07/12/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FTIM REPO AGREEMENT		-6,805,369			5,060,000.00
07/12/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FTIM TERM REPO AGREEMENT		6,805,369	5,241,000.00
07/12/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FTIM TERM REPO AGREEMENT		13,610,739	10,000,000.00
07/12/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FTIM REPO AGREEMENT		-13,610,739			10,120,000.00
07/12/05	JOURNAL	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS IO 5,000 DUE 12/01/34 FTIM TERM REPO AGREEMENT		18,891,486	3,756,000.00
07/12/05	JOURNAL	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS IO 5,000 DUE 12/01/34 FTIM REPO AGREEMENT		-18,891,486			3,788,000.00

027¶

07/30/05;10:09 001¶

EFTA00196070¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

23 of 32¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

THROUGH July 29, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
07/12/05	JOURNAL	FREDDIE MAC CMO/SERIES 2886 SC/IO FLTR 4,080 DUE 07/15/19 FTIM REPO AGREEMENT		-3,529,667		197,000.00
07/12/05	JOURNAL	FREDDIE MAC CMO/SERIES 2886 SC/IO FLTR 4,080 DUE 07/15/19 FTIM TERM REPO AGREEMENT		3,529,667	206,000.00
07/12/05	JOURNAL	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO 6,000 DUE 02/01/25 FTIM TERM REPO AGREEMENT		17,428,411	2,762,000.00
07/12/05	JOURNAL	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO 6,000 DUE 02/01/25 FTIM REPO AGREEMENT		-17,428,411		2,818,000.00
07/12/05	JOURNAL	UNITED STATES TREASURY NOTE FTIM A1 4,125 DUE 05/15/15 REPO AGREEMENT		-3,000,000		3,011,250.00
07/12/05	JOURNAL	UNITED STATES TREASURY NOTE FTIM A2 4,125 DUE 05/15/15 TERM REPO AGREEMENT		18,000,000	18,090,000.00
07/12/05	INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO STRUP DUE 01/01/2033 0,000 REPO INTEREST			8,521.33

027¶

07/30/05;10:09 001¶

EFTA00196071¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

24 of 32¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

THROUGH July 29, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
07/12/05		INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO STRIP DUE 01/01/2033 0,000 FITM AZ REPO INTEREST			33,750.08
07/12/05		INTEREST	FANNIE MAE CMO/SERIES 2003-13 S RCR/I/O FLTR DUE 02/25/2033 4,685 FITM AZ REPO INTEREST			2,991.36
07/12/05		INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/2033 0,000 FITM AZ REPO INTEREST			15,932.64
07/12/05		INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/2033 0,000 FITM AZ REPO INTEREST			23,333.33
07/12/05		INTEREST	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS 10 DUE 12/01/2034 5,000 FITM AZ REPO INTEREST			11,418.24
07/12/05		INTEREST	FREDDIE MAC CMO/SERIES 2886 SC-I/O FLTR DUE 07/15/2019 4,080 FITM AZ REPO INTEREST			626.24
07/12/05		INTEREST	FEDL HOME LOAN MTG CORP#S10110 SERIES 229 CLASS 10 DUE 02/01/2035 6,000 FITM AZ REPO INTEREST			8,396.48

027¶

07/30/05;10:09 001¶

EFTA00196072¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

25 of 32¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

THROUGH July 29, 2005¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
07/12/05		INTEREST	UNITED STATES TREASURY NOTE DUE 05/15/2015 4,125 FITM A2 REPO INTEREST			1,557.75
07/13/05		JOURNAL	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 3,690 DUE 02/20/33 FITM A1 REPO AGREEMENT		-26,400,000		2,440,000.00
07/13/05		JOURNAL	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 3,690 DUE 02/20/33 FITM A2 TERM REPO AGREEMENT		26,400,000	2,515,000.00
07/13/05		INTEREST	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS DUE 02/20/2033 3,690 AZ REPO INTEREST			4,708.64
07/14/05		JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR 3,785 DUE 07/25/17 FITM A4 TERM REPO AGREEMENT		17,157,930
07/14/05		JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR 3,785 DUE 07/25/17 FITM A1 REPO AGREEMENT		-7,549,489
07/14/05		JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR 3,785 DUE 07/25/17 FITM A1 RESALE AGREEMENT		9,608,440	509,000.00

027¶

07/30/05;10:09 001¶

EFTA00196073¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

26 of 32¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

THROUGH July 29, 2005¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
07/14/05		JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR 3,785 DUE 07/25/17 FTIM REPO AGREEMENT		-9,608,440		509,000.00
07/14/05		JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR 3,785 DUE 07/25/17 FTIM REPO AGREEMENT		-9,608,440		509,000.00
07/14/05		JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR 3,785 DUE 07/25/17 FTIM REPO AGREEMENT		9,608,440	509,000.00
07/14/05		JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR 3,785 DUE 07/25/17 FTIM REPO AGREEMENT		-9,608,440		509,000.00
07/15/05		JOURNAL	UNITED STATES TREASURY NOTE FTIM A2 4,125 DUE 05/15/15 TERM REPO AGREEMENT		3,000,000	3,011,250.00
07/15/05		INTEREST	UNITED STATES TREASURY NOTE DUE 05/15/2015 4,125 FTIM A2 REPO INTEREST			736.92
07/18/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 0.001 DUE 07/11/94 FTIM REPO AGREEMENT		-19,089,045		13,954,000.00
07/18/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 0.001 DUE 07/11/94 FTIM TERM REPO AGREEMENT		19,089,045	14,345,000.00

027¶

07/30/05;10:09 001¶

EFTA00196074¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

27 of 32¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

THROUGH July 29, 2005¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

027¶

07/30/05;10:09 001¶

EFTA00196075¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

28 of 32¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

THROUGH July 29, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
07/28/05		INTEREST	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS I0 DUE 12/01/2034 5,000 FITM C2 REPO INTEREST			5,123.95
07/29/05		JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR/I/O FLTR 4,540 DUE 03/25/33 FITM E2 TERM REPO AGREEMENT		12,094,423
07/29/05		JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR/I/O FLTR 4,540 DUE 03/25/33 FITM A1 REPO AGREEMENT		-24,188,846
07/29/05		JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR/I/O FLTR 4,540 DUE 03/25/33 FITM A2 TERM REPO AGREEMENT		12,094,423	946,000.00
07/29/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS I0 5,000 DUE 12/01/2034 FITM A2 TERM REPO AGREEMENT		9,445,743
07/29/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS I0 5,000 DUE 12/01/2034 FITM A1 REPO AGREEMENT		-8,973,456
07/29/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS I0 5,000 DUE 12/01/2034 FITM A1 REPO AGREEMENT		-472,287		96,000.00

027¶

07/30/05;10:09 001¶

EFTA00196076¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

29 of 32¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 1, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

THROUGH July 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
07/29/05		DELIVERED	UNITED STATES TREASURY NOTE DUE 06/30/2007 3,625 3,625 DUE 06/30/07 FITM A2 TERM RESALE AGREEMENT		-93,000,000		93,116,250.00
07/29/05		INTEREST	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR DUE 03/25/2033 4,540 FITM A2 REPO INTEREST			1,599.27
07/29/05		INTEREST	UNITED STATES TREASURY NOTE DUE 06/30/2007 3,625 FITM INTEREST				132,949.31
TOTAL						-$325,376,196.79	$318,091,800.66

MISCELLANEOUS¶

MO/DAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
07/01/05	JOURNAL	TO CMDY A/C	159,218.50
07/05/05	JOURNAL	FR CMDY A/C		258,350.50
07/06/05	JOURNAL	FR CMDY A/C		160,897.50
07/08/05	JOURNAL	FR CMDY A/C		183,564.74
07/11/05	JOURNAL	FR CMDY A/C		107,686.00
07/13/05	JOURNAL	FR CMDY A/C		6,430.00
07/13/05	JOURNAL	FNMA 30YR TBA GTD SETT, 07/05 5,000 DUE 07/01/35 MBS NET 07/13/05	526,171.87

027¶

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EFTA00196077¶

30 of 32¶

Transaction Detail (continued)¶

MISCELLANEOUS (continued)¶

DATE MO/DAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
07/13/05	JOURNAL	FNMA-30YR(FNMA)GTD SETT, 07/05 5,500 DUE 07/01/35 MBS NET 07/13/05	168,750.00
07/14/05	JOURNAL	FR CMDY A/C		11,709.00
07/14/05	JOURNAL	FNMA 30 YR GTD SETT, 07/05 6,000 DUE 07/01/35 MBS NET 07/14/05		95,703.12
07/15/05	JOURNAL	TO CMDY A/C	4,390.00
07/18/05	JOURNAL	FR CMDY A/C		66,750.00
07/19/05	JOURNAL	FR CMDY A/C		50,375.00
07/22/05	JOURNAL	JUNE 05 CLEAR FEES	1,500.00
07/22/05	JOURNAL	FR CMDY A/C		104,275.00
07/26/05	JOURNAL	TO CMDY A/C	23,563.00
07/27/05	JOURNAL	FR CMDY A/C		3,900.00
07/28/05	JOURNAL	FR CMDY A/C		64,025.00
07/29/05	JOURNAL	TO CMDY A/C	207,084.00
TOTAL			-1,090,677.37	$1,113,665.86

CLEARED THROUGH ITS¶

CLEARLY WOUNDED SUBSIDIARY¶

FINANCIAL TRUST CO INC¶

STATEMENT PERIOD July 1, 2005¶

THROUGH July 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

027¶

07/30/05;10:09 001¶

V895¶

EFTA00196078¶

BEAR STEARNS¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

31 of 32¶

FINANCIAL TRUST CO INC¶

Trades Executed Pending Settlement¶

STATEMENT PERIOD July 1, 2005¶

THROUGH July 29, 2005¶

| LAST STATEMENT | June 30, 2005 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
08/01/05	07/29/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 06/15/2015, 04,125% MN 15 YIELD 4,278 % TO MATURITY GVER REF # G2105081 A1		10,000,000.00	98.7812	9,965,557.07
08/01/05	07/28/05	SOLD	UNITED STATES TREASURY NOTE DUE 07/31/2007, 03,875% JJ 31 Yield 3,978 % TO MATURITY GVER REF # G2093006 B1		-23,000,000.00	99.8046		22,957,500.00
08/01/05	07/28/05	SOLD	UNITED STATES TREASURY NOTE DUE 07/31/2007, 03,875% JJ 31 Yield 3,978 % TO MATURITY GVER REF # G2093006 A1		-50,000,000.00	99.8046		49,907,608.70
08/11/05	07/11/05	BOUGHT	FNMA-30YR(FNMA)GTD SETT.08/04 DUE 08/01/2034 05,500% REF # 2005071157110000 BS		50,000,000.00	100.8828	50,441,406.25
08/11/05	07/07/05	SOLD	FNMA-30YR(FNMA)GTD SETT.08/04 DUE 08/01/2034 05,500% REF # 2005070757310000 BS		-30,000,000.00	100.9687		30,290,625.00
08/11/05	07/08/05	SOLD	FNMA-30YR(FNMA)GTD SETT.08/04 DUE 08/01/2034 05,500% REF # 2005070857250000 BS		-50,000,000.00	100.9609		50,480,470.00
08/11/05	07/08/05	SOLD	FNMA-30YR(FNMA)GTD SETT.08/04 DUE 08/01/2034 05,500% REF # 2005070857250000 BS AS OF 07/08/05		-50,000,000.00	100.9609		50,480,468.75

07/30/05;10:09	001	V895

EFTA00196079¶

BEAR STEARNS¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

32 of 32¶

FINANCIAL TRUST CO INC¶

Trades Executed Pending Settlement (continued)¶

STATEMENT PERIOD July 1, 2005¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
08/11/05	07/15/05	SOLD	FNMA-30YR(FNMA)GTD SETT,08/04 DUE 08/01/2034, 05,500% REF # 2005071557180000 BS		-30,000,000.00	100.8203		30,246,093.75
08/11/05	07/29/05	SOLD	FNMA-30YR(FNMA)GTD SETT,08/04 DUE 08/01/2034, 05,500% REF # 2005072957090000 BS		-40,000,000.00	100.5078		40,203,125.00
08/11/05	07/08/05	CANCEL SELL	FNMA-30YR(FNMA)GTD SETT,08/04 DUE 08/01/2034, 05,500% REF # 2005070857250000 BS AS OF 07/08/05		-50,000,000.00	100.9609	50,480,470.00
08/11/05	07/21/05	SOLD	FNMA 30YR GTD SETT, 08/05 DUE 08/01/2035, 05,000% REF # 2005072157190000 BS		-10,000,000.00	98.5937		9,859,375.00
TOTAL								$110,887,433.32	$284,425,266.20

The above trades do not appear in any other section of this statement.¶

******* End of Statement*******¶

027¶

07/30/05;10:09 001¶