Transaction Detail

## What’s In This Statement Trades Not Yet Settled ... 31 Your Messages ... 33

FINANCIAL TRUST CO INC

C/O JEFFREY EPSTEIN

6100 RED HOOK QUARTER

ST B3

ST THOMAS VI 00802

FINANCIAL TRUST CO INC STATEMENT PERIOD June 1, 2005 ACCOUNT NUMBER THROUGH June 30, 2005 TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- | Your Portfolio at a Glance

TOTAL VALUE OF SECURITIES THIS PERIOD	3,442,681
LONG ACCRUED INTEREST	32,928
NET CREDIT BALANCE	359,965
NET EQUITY THIS PERIOD	$3,835,574
NET EQUITY LAST STATEMENT	3,201,652
CHANGE SINCE LAST STATEMENT	633,923

Market Value of Your Portfolio There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. Confirmation: Unless we hear from you to the contrary, it is our understanding that any free credit balances in your account are being maintained to facilitate your intention to invest such amounts through us. 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 07/01/05:10:42 001 V893IP EFTA00196081 2 of 34 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 EFTA00196082 3 of 34 Cash Flow Analysis

	THIS PERIOD
OpeningBalance	$122,205.83
Securities Sold	717,693,800.08
Dividends/Interest	1,131,949.13
Miscellaneous	1,878,994.73
Amount Credited	$720,704,743.94
Securities Bought	-718,737,452.51
Dividends/Interest Charged	-208,273.77
Miscellaneous	-1,521,258.00
Amount Debited	$-720,466,984.28
Net Cash Activity	237,759.66
Closing Balance	$359,965.49

Cash Balance Summary

	OPENING	CLOSING
Margin	122,205.83	359,965.49
Net Cash Balance	$122,205.83	$359,965.49

Income Summary

	THIS PERIOD	YEAR TO DATE
U.S.Govt.Bond Int.	219,620.41	3,681,663.87
Govt.Agency Int.	714,775.88	4,112,621.91
Corp.Bond Int.	197,231.04	792,702.92
Credit Balance Int.	321.80	3,545.51
Reverse Repurchase Int.	81,098.16	1,163,243.87
Total	$1,213,047.29	$9,753,778.08
Bond Purchase Int.	-208,273.77	-5,148,708.18
Repurchase Int. Exp.	-215,571.53	-1,098,448.85

Portfolio Composition

Cash/Cash Equivalent	359,965
Fixed Income	3,442,681
Total	$3,802,646

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY FINANCIAL TRUST CO INC STATEMENT PERIOD June 1, 2005 THROUGH June 30, 2005 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 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. W893IP EFTA00196083 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 4 of 34 FINANCIAL TRUST CO INC ## Your Portfolio Holdings CASH & CASH EQUIVALENTS STATEMENT PERIOD June 1, 2005 THROUGH June 30, 2005

DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CASH BALANCE				359,965
TOTAL CASH & CASH EQUIVALENTS				$359,965

ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- | ## FIXED INCOME ## Government & Agency Obligations

DESCRIPTION	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 3,940% FACTOR = .90848224	MRGN	14,795,046	5.5884	826,803	16,191	582,925	70.5035
GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-041 CLASS SE DATED DATE 06/23/04 BOOK ENTRY ONLY DUE 05/20/2030 FACTOR = .92150716	MRGN	14,801,708	6.7511	999,284
FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW DATED DATE 04/30/03 BOOK ENTRY ONLY DUE 01/25/2033 3,685% FACTOR = .51379199	MRGN	12,488,618	7.1598	894,164	6,393	460,206	51.4677

027 07/01/05;10:42 001 V893IP EFTA00196084 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY **5** of 34 FINANCIAL TRUST CO INC ## Your Portfolio Holdings (continued) STATEMENT PERIOD June 1, 2005 ## Government & Agency Obligations (continued)

DESCRIPTION	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ACCRUED INTEREST	ESTIMATED ANNUAL INCOME
FEDERAL NATIONAL MTG ASSN	MRGN	1	20.6563
SERIES 353 CLASS 2
DATED DATE 07/01/04
BOOK ENTRY ONLY
DUE 07/01/2034 5,000%
FACTOR = .97992876
Total Government& Agency Obligations				$2,720,251	$22,584	$1,043,131

Corporate Bonds

DESCRIPTION	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ACCRUED INTEREST	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
ALTERNATIVE LOAN TRUST	MRGN	37,054,541	1.9496	722,430	10,344	744,796	103.0959
SERIES 2004-30CB CLASS 1-A-8 DATED DATE 12/27/04 BOOK ENTRY ONLY DUE 02/25/2035 2,010% FACTOR = .92636353 RATING: MOODY AAA S&P AAA
Total CorporateBonds				$722,430	$10,344	$744,796
TOTAL FIXED INCOME				$3,442,681	$32,928	$1,787,927

YOUR PORTFOLIOHOLDINGSACCRUED INTEREST	$32,928
YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME	$1,787,927
YOUR PRICED PORTFOLIOHOLDINGS	$3,802,646

027 07/01/05;10:42 001 V893IP EFTA00196085 6 of 34 FINANCIAL TRUST CO INC ## Repurchase and Reverse Repurchase Transactions | STATEMENT PERIOD | June 1, 2005 | | :--- | :--- | | THROUGH | June 30, 2005 | TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- | | 07/01/05;10:42 | 001 | V893IP | | :--- | :--- | :--- | EFTA00196086 CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 7 of 34 FINANCIAL TRUST CO INC ## Repurchase and Reverse Repurchase Transactions (continued) STATEMENT PERIOD June 1, 2005 THROUGH June 30, 2005 AGCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

	PURCHASE/ START DATE	REPURCHASE DATE	PRICING RATE	PURCHASE PRICE/ PRINCIPAL	ACCRUED REPO INTEREST*	QUANTITY (FACE AMOUNT)	DESCRIPTION
YOU SOLD (REPO)	06/23/05	07/13/05	3.370	-2,515,000	-1,883	-26,400,000	GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-5 CLASS P 3.6900 02/20/33
YOU SOLD (REPO)	06/27/05	OPEN	0.010	-1		-25,000,000	FEDERAL NATIONAL MTG ASSOC SERIES 2003-13 CLASS 4.6856 03/25/33
YOU SOLD (REPO)	06/27/05	OPEN	0.010	-1		-27,112,874	GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-30 CLASS 3.9400 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 4.0800 07/15/19
YOU SOLD (REPO)	06/30/05	08/01/05	3.540	-6,373,000	-626	-10,000,000	FANNIE MAE STRIPS SERIES 352 CLASS PO 07/01/34
YOU SOLD (REPO)	06/30/05	08/01/05	3.540	-1,737,000	-170	-10,000,000	FANNIE MAE STRIP SERIES 353 CLASS ID 5.0000 07/01/34
YOU SOLD (REPO)	06/30/05	08/01/05	3.540	-1,861,000	-183	-10,000,000	FEDERAL HOME LOAN STRIP SERIES 227 CLASS ID 5.0000 12/01/34
YOU BOUGHT (REVERSE)	06/27/05	OPEN	2.310	34,127,500	10,115	34,000,000	USTR 3.5000 05/31/07
TOTAL REVERSE REPURCHASE TRANSACTIONS				$34,127,500	$10,115
TOTAL REPURCHASE TRANSACTIONS				$-92,744,003	$-105,492

*As of statement date* 027 07/01/05;10:42 001 V893IP EFTA00196087 CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 8 of 34 FINANCIAL TRUST CO INC Transaction Detail ## INVESTMENT ACTIVITY STATEMENT PERIOD June 1, 2005

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
06/01/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11.01/33	-1
06/02/05	05/27/05	BOUGHT	ALTERNATIVE LOAN TRUST SERIES 2004-30CB CLASS 1-A-8 DUE 02/25/2035 02,080% REF # 20050527 57050000 BS	37,701,414 ACCR. INT.	2,15625	812,936.74 14,734.97
06/02/05	06/01/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 05/31/2007 03,500% MN 31 YIELD 3,463 % TO MATURITY GVER REF # G1524054 A1	25,000,000 ACCR. INT.	100.07031	25,017,578.13 4,781.42
06/03/05	06/02/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 06/LB/2015 04,125% MN 15 Yield 3,901 % TO MATURITY GVER REF # G1535384 A1	40,000,000 ACCR. INT.	101.82813	40,731,250.00 85,190.22
06/10/05	06/09/05	SOLD	UNITED STATES TREASURY NOTE DUE 05/31/2007 03,500% MN 31 Yield 3,640 % TO MATURITY GVER REF # G1605088 A1	-25,000,000	99.73438 ACCR. INT.		24,933,593.75 23,907.10
06/13/05	06/10/05	SOLD	UNITED STATES TREASURY NOTE DUE 05/15/2015 04,125% MN 15 Yield 4,015 % TO MATURITY GVER REF # G1642765 A1 AS OF 06/10/05	-17,000,000	100.89063 ACCR. INT.		17,151,406.25 55,261.55
06/14/05	06/13/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 06/LB/2015 04,125% MN 15 Yield 4,082 % TO MATURITY GVER REF # G1644185 A1	4,000,000 ACCR. INT.	100.34375	4,013,750.00 13,451.09

027 07/01/05;10:42 001 EFTA00196088 CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 9 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 ## INVESTMENT ACTIVITY (continued) THROUGH June 30, 2005

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	QUANTITY	PRICE	DEBT AMOUNT	CREDIT AMOUNT
06/16/05	06/10/05	SOLD	UNITED STATES TREASURY NOTE DUE 06/15/2015, 04,125% MN 15	-17,000,000	100.89844		17,152,734.38
			YIELD: 4,014 % 10 MATURITY GVER REF # G1672882 A1 ORIGINAL SD 06/13/05 AS OF 06/10/05		ACCR. INT.		55,261.54
06/17/05	06/14/05	SOLD	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO STRIP DUE 01/01/2023	-10,321,800	81.81250		8,444,522.75
			REF # 2005061457200000 BS
06/17/05	06/14/05	BOUGHT	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/2023	13,929,377	82.01563	11,424,265.93
			REF # 2005061457130000 BS
06/20/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/133 STRIP	-1
06/20/05		PRINCIPAL	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-035 CLASS SP 4,110 DUE 12/20/29 PRINCIPAL REDUCTN 06-20-05	-153,742
06/20/05		PRINCIPAL	GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-041 CLASS SE DUE 05/20/30 PRINCIPAL REDUCTN 06-20-05	-139,052
06/22/05	06/21/05	SOLD	UNITED STATES TREASURY NOTE DUE 06/15/2015, 04,125% MN 15	-20,000,000	100.37500		20,075,000.00
			YIELD: 4,014 % 10 MATURITY GVER REF # G1722863 A1		ACCR. INT.		85,190.22

027 07/01/05;10:42 001 EFTA00196089 CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 10 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 ## INVESTMENT ACTIVITY (continued) THROUGH June 30, 2005 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	QUANTITY	PRICE	DEBT AMOUNT	CREDIT AMOUNT
06/27/05	06/24/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 05/31/2007 03,500% MN 31	20,000,000	99.83594	19,967,187.50
			TELD: 3,588 % TO MATURITY GVER REF # 01753133 A1	ACCR. INT.		51,639.34
06/27/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/133 STRIP PRIN RID 05-05 P/D 06-25-05 REPO P & I				289,167.60
06/27/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/133 STRIP PRIN RID 05-05 P/D 06-25-05 REPO P & I				298,418.83
06/27/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS 9W 3,910 DUE 01/25/33 PRINCIPAL REDUCTN 06-25-05	-244,441
06/27/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/23 PRIN RID 05-05 P/D 06-25-05 REPO P & I				145,914.10
06/27/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 0,001 DUE 07/10/24 PRIN RID 05-05 P/D 06-25-05 REPO P & I				371,609.85
06/27/05		PRINCIPAL	ALTERNATIVE LOAN TRUST SERIES 2004-308 CLASS 1-A-8 1,785 DUE 02/25/35 PRINCIPAL REDUCTN 06-25-05	-646,873
06/28/05	JOURNAL		FANNIE MAE CMO/SERIES 2003-13 S RDR-I/O FLTR 4,685 DUE 03/25/33	1

07/01/05;10:42 001 027 V893IP EFTA00196090 CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 11 of 34 FINANCIAL TRUST CO INC ## Transaction Detail (continued) STATEMENT PERIOD June 1, 2005 ## INVESTMENT ACTIVITY (continued)

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
06/30/05	06/28/05	BOUGHT	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 DUE 07/01/2034 00,001% REF # 2005062857180000 BS	8,518,623	83.45313	7,109,057.52
06/30/05	06/28/05	SOLD	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 DUE 07/01/2034 05,000% REF # 2005062857100000 BS ACCRUES ON 1ST, PAYS ON 25TH	-9,170,234	20.59375		1,888,495.25 36,935.67
06/30/05	06/28/05	BOUGHT	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS 10 DUE 12/01/2034 05,000% REF # 2005062857140000 BS	9,552,843 ACCR. INT.	21.17188	2,022,516.00 38,476.73
TOTAL

INTEREST

DATE	DESCRIPTION	RATE (%)	CREDIT AMOUNT
06/01/05	AVG BAL 200,424RT 1.864 021 OFFICE INTEREST 0505		321.80
06/15/05	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS I0 DUE 12/01/2034 5,000 INT R/D 05-05 P/D 06-15-05 REPO P & I 5,0000	5.0000	80,303.34
06/15/05	FREDDIE MAC CMO/SERIES 2886 SC-I/O FLTR DUE 07/15/2019 4,080 INT R/D 05-05 P/D 06-15-05 REPO P & I 4,2100	4.0800	12,618.14

027 07/01/05;10:42 001 V893IP EFTA00196091 BEAR STEARNS CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 12 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 INTEREST (continued) THROUGH June 30, 2005 AGCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

DATE	DESCRIPTION	RATE (%)	CREDIT AMOUNT
06/15/05	FREDDIE MAC CMO/SERIES 2886 SC/I/O FLTR DUE 07/15/2019 4,080 INT/R/D 05-05 P/D 06-15-05 REPO P & I 4,2100	4.0800	18,058.26
06/15/05	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO DUE 02/01/20235 6,000 INT/R/D 05-05 P/D 06-15-05 REPO P & I 6,0000	6.0000	91,828.76
06/20/05	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS DUE 02/20/2033 3,860 INT/R/D 05-05 P/D 06-20-05 REPO P & I 3,8600	3.8600	56,613.33
06/20/05	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS DUE 02/20/2033 4,860 INT/R/D 05-05 P/D 06-20-05 REPO P & I 3,8600	3.8600	84,920.00
06/20/05	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-30 CLASS SU DUE 02/20/2032 4,110 INT/R/D 05-05 P/D 06-20-05 REPO P & I 4,1100	4.1100	84,591.78
06/20/05	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-035 CLASS SP DUE 02/20/2039 4,110 INTEREST PAYMENT 06-20-05	4.1100	51,199.60
06/20/05	GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-041 CLASS SE DUE 05/20/2030 0,000 INTEREST PAYMENT 06-20-05		51,172.10
06/27/05	FANNIE MAE CMO/SERIES 2003-13 S RCR/I/O FLTR DUE 03/25/2033 4,910 INT/R/D 05-05 P/D 06-25-05 REPO P & I 4,9100	4.9100	25,851.29

| 027 | 07/01/05;10:42 | 001 | V893IP | | :--- | :--- | :--- | :--- | EFTA00196092 BEAR STEARNS CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 13 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 THROUGH June 30, 2005 INTEREST (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

DATE	DESCRIPTION	RATE (%)	CREDIT AMOUNT
06/27/05	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR DUE 03/25/2033 4,910 INT R/D 05-05 P/D 06-25-05 REPO P & I 4,9100	4.9100	25,851.29
06/27/05	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR DUE 02/25/2033 4,910 INT R/D 05-05 P/D 06-25-05 REPO P & I 4,9100	4.9100	51,702.58
06/27/05	FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW DUE 01/25/2033 3,910 INTEREST PAYMENT 06-25-05	3.9100	41,488.55
06/27/05	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR DUE 07/25/2017 4,010 INT R/D 05-05 P/D 06-25-05 REPO P & I 4,0100	4.0100	58,317.45
06/27/05	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 DUE 07/01/2034 5,000 INT R/D 05-05 P/D 06-25-05 REPO P & I 5,0000	5.0000	77,405.30
06/27/05	ALTERNATIVE LOAN TRUST SERIES 2004-30CB CLASS 1-A-8 DUE 02/25/2035 1,785 INTEREST PAYMENT 06-25-05	1.7850	63,149.48
TOTAL			$875,393.05

027 07/01/05;10:42 001 EFTA00196093 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 14 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 THROUGH June 30, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear, Stearns& Co.Inc. ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRANSACTION	DESCRIPTION	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
06/01/05	JOURNAL	FREDDIE MAC CMO/SERIES 2886 SC-I/O FLTR 4,210 DUE 07/15/19 FTIM F1523444 A1 TERM REPO AGREEMENT	8,743,867
06/01/05	JOURNAL	FREDDIE MAC CMO/SERIES 2886 SC-I/O FLTR 4,210 DUE 07/15/19 FTIM F1523444 A1 REPO AGREEMENT	-5,147,247
06/01/05	JOURNAL	FREDDIE MAC CMO/SERIES 2886 SC-I/O FLTR 4,210 DUE 07/15/19 FTIM F1523444 A1 REPO AGREEMENT	-3,596,620		209,000.00
06/02/05	RECEIVED	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 3,500 DUE 05/31/07 FTIM A1 RESALE AGREEMENT	29,000,000	29,072,500.00
06/02/05	DELIVERED	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 3,500 DUE 05/31/07 FTIM A2 TERM RESALE AGREEMENT	-54,000,000		54,000,000.00
06/02/05	INTEREST	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 FTIM INTEREST			8,445.00
06/03/05	JOURNAL	FREDDIE MAC CMO/SERIES 2886 SC-I/O FLTR 4,210 DUE 07/15/19 FTIM F1523444 A2 TERM REPO AGREEMENT	5,147,247

027 07/01/05;10:42 001 EFTA00196094 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 15 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) THROUGH June 30, 2005 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRANSACTION	DESCRIPTION	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
06/03/05	JOURNAL	FREDDIE MAC CMO/SERIES 2886 SC/10 FLTR 4,210 DUE 07/15/19 FITM REPO AGREEMENT	-5,147,247		288,000.00
06/03/05	JOURNAL	UNITED STATES TREASURY NOTE FITM A2 4,125 DUE 05/15/15 TERM REPO AGREEMENT	38,000,000	38,095,000.00
06/03/05	JOURNAL	UNITED STATES TREASURY NOTE FITM A1 4,125 DUE 05/15/15 REPO AGREEMENT	-78,000,000		79,462,500.00
06/03/05	INTEREST	UNITED STATES TREASURY NOTE DUE 05/15/2015 A125 FITM REPO INTEREST		19,661.25
06/10/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP FITM TERM REPO AGREEMENT	14,773,724	10,851,000.00
06/10/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP FITM REPO AGREEMENT	-14,773,724		11,102,000.00
06/10/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR/10 FLTR 4,910 DUE 03/25/33 FITM REPO AGREEMENT	-6,318,034		492,000.00

027 07/01/05;10:42 001 EFTA00196095 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 16 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) THROUGH June 30, 2005 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRANSACTION	DESCRIPTION	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
06/10/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR 4,910 DUE 03/25/33 FTIM AZ TERM REPO AGREEMENT	6,318,034	525,000.00
06/10/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR 4,910 DUE 03/25/33 FTIM A1 REPO AGREEMENT	-12,636,068		984,000.00
06/10/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR 4,910 DUE 03/25/33 FTIM AZ TERM REPO AGREEMENT	12,636,068	996,000.00
06/10/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR 4,010 DUE 07/25/17 FTIM A1 REPO AGREEMENT	-17,451,605
06/10/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR 4,010 DUE 07/25/17 FTIM A2 TERM REPO AGREEMENT	17,451,605	1,008,000.00
06/10/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR 4,010 DUE 07/25/17 FTIM A1 REPO AGREEMENT	-17,451,605		1,014,000.00
06/10/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR 4,010 DUE 07/25/17 FTIM A2 REPO AGREEMENT	17,451,605	1,014,000.00

027 07/01/05;10:42 001 EFTA00196096 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 17 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) THROUGH June 30, 2005 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRANSACTION	DESCRIPTION	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
06/10/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FITM AZ TERM REPO AGREEMENT	6,964,688	3,800,000.00
06/10/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FITM C1 REPO AGREEMENT	-6,964,688		5,241,000.00
06/10/05	JOURNAL	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-30 CLASS SU 4,110 DUE 02/20/22 FITM B1 REPO AGREEMENT	-24,698,329		1,297,000.00
06/10/05	JOURNAL	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-30 CLASS SU 4,110 DUE 02/20/22 FITM BZ TERM REPO AGREEMENT	24,698,329	1,340,000.00
06/10/05	JOURNAL	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS IO 5,000 DUE 12/01/34 FITM A1 REPO AGREEMENT	-19,105,686		3,756,000.00
06/10/05	JOURNAL	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS IO 5,000 DUE 12/01/34 FITM CZ TERM REPO AGREEMENT	19,105,686	3,951,000.00
06/10/05	JOURNAL	FREDDIE MAC CMO/SERIES 2886 SC/IO FTLR 4,210 DUE 07/15/19 FITM A1 REPO AGREEMENT	-3,596,620		206,000.00

027 07/01/05;10:42 001 EFTA00196097 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 18 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) THROUGH June 30, 2005 AGCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRANSACTION	DESCRIPTION	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
06/10/05	JOURNAL	FREDIE MAC CMO/SERIES 2886 SC/I/O FLTR 4,210 DUE 07/15/19 FTIM AZ TERM REPO AGREEMENT	3,596,620	209,000.00
06/10/05	JOURNAL	FREDIE MAC CMO/SERIES 2886 SC/I/O FLTR 4,210 DUE 07/15/19 FTIM AZ TERM REPO AGREEMENT	5,147,247	288,000.00
06/10/05	JOURNAL	FREDIE MAC CMO/SERIES 2886 SC/I/O FLTR 4,210 DUE 07/15/19 FTIM A1 TERM REPO AGREEMENT	-5,147,247		296,000.00
06/10/05	JOURNAL	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS I0 6,000 DUE 02/01/35 FTIM B1 REPO AGREEMENT	-17,959,702		2,762,000.00
06/10/05	JOURNAL	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS I0 6,000 DUE 02/01/35 FTIM B2 TERM REPO AGREEMENT	17,959,702	3,000,000.00
06/10/05	DELIVERED	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 DUE 06/31/07 FTIM A2 TERM RESALE AGREEMENT	-29,000,000		29,072,500.00
06/10/05	RECEIVED	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 DUE 06/31/07 FTIM A1 RESALE AGREEMENT	54,000,000	54,067,500.00

027 07/01/05;10:42 001 EFTA00196098 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 19 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 THROUGH June 30, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRANSACTION	DESCRIPTION	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
06/10/05	DELIVERED	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 3,500 DUE 05/31/07 FITM AGREEMENT	-54,000,000		54,067,500.00
06/10/05	RECEIVED	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 3,500 DUE 05/31/07 FITM A3 RESALE AGREEMENT	54,000,000	54,067,500.00
06/10/05	DELIVERED	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 3,500 DUE 05/31/07 FITM A4 RESALE AGREEMENT	-54,000,000		54,067,500.00
06/10/05	RECEIVED	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 3,500 DUE 05/31/07 FITM A5 RESALE AGREEMENT	54,000,000	54,067,500.00
06/10/05	INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO STRIP DUE 01/01/2003 0,000 FITM DZ REPO INTEREST		29,749.82
06/10/05	INTEREST	FANNIE MAE CMO/SERIES 2003-13 S RDR-I/O FLTR DUE 03/25/2003 4,910 FITM AZ REPO INTEREST		721.88
06/10/05	INTEREST	FANNIE MAE CMO/SERIES 2003-13 S RDR-I/O FLTR DUE 03/25/2003 4,910 FITM AZ REPO INTEREST		1,911.49

027 07/01/05;10:42 001 EFTA00196099 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 20 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 THROUGH June 30, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRANSACTION	DESCRIPTION	DEBIT AMOUNT
06/10/05	INTEREST	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR DUE 07/25/2017 4,010 FITM AZ REPO INTEREST	2,210.88
06/10/05	INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/2033 0,000 FITM AZ REPO INTEREST	5,556.44
06/10/05	INTEREST	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-30 CLASS SU DUE 02/20/2032 4,110 FITM BZ REPO INTEREST	2,939.07
06/10/05	INTEREST	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS IO DUE 12/01/2034 5,000 FITM CZ REPO INTEREST	5,777.24
06/10/05	INTEREST	FREDDIE MAC CMO/SERIES 2886 SC-I/O FLTR DUE 07/15/2019 4,210 FITM AZ REPO INTEREST	171.90
06/10/05	INTEREST	FREDDIE MAC CMO/SERIES 2886 SC-I/O FLTR DUE 07/15/2019 4,210 FITM AZ REPO INTEREST	184.24
06/10/05	INTEREST	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO DUE 02/01/2035 6,000 FITM AZ REPO INTEREST	4,386.67

027 07/01/05;10:42 001 EFTA00196100 CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 21 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 THROUGH June 30, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SEREMENT DATE	TRANSACTION	DESCRIPTION	QUANTITY	CREDIT AMOUNT
06/10/05	INTEREST	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 FITM INTEREST		16,918.58
06/13/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR 4,910 DUE 03/25/33 FITM A2 TERM REPO AGREEMENT	6,318,034
06/13/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR 4,910 DUE 03/25/33 FITM A1 REPO AGREEMENT	-6,318,034
06/13/05	JOURNAL	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 3,860 DUE 02/20/33 FITM A2 TERM REPO AGREEMENT	26,400,000
06/13/05	JOURNAL	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 3,860 DUE 02/20/33 FITM A1 REPO AGREEMENT	-26,400,000	2,000,000.00
06/13/05	JOURNAL	UNITED STATES TREASURY NOTE FITM A1 4,125 DUE 05/15/15 REPO AGREEMENT	-61,000,000	61,152,500.00
06/13/05	JOURNAL	UNITED STATES TREASURY NOTE FITM A2 4,125 DUE 05/15/15 TERM REPO AGREEMENT	78,000,000	79,462,500.00
06/13/05	INTEREST	UNITED STATES TREASURY NOTE DUE 05/15/2015 4,125 FITM REPO INTEREST		30,681.35

027 07/01/05;10:42 001 EFTA00196101 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 22 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) THROUGH June 30, 2005 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRANSACTION	DESCRIPTION	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
06/14/05	JOURNAL	UNITED STATES TREASURY NOTE FITM A2 4,125 DUE 05/15/15 TERM REPO AGREEMENT	61,000,000	61,152,500.00
06/14/05	JOURNAL	UNITED STATES TREASURY NOTE FITM A1 4,125 DUE 05/15/15 REPO AGREEMENT	-65,000,000		65,081,250.00
06/14/05	INTEREST	UNITED STATES TREASURY NOTE DUE 05/15/2015 4,125 FITM A2 REPO INTEREST		2,072.39
06/16/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP FITM C1 REPO AGREEMENT	-15,246,375		11,253,000.00
06/16/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP FITM EZ TERM REPO AGREEMENT	15,246,375	11,334,000.00
06/16/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR/I/O FLTR 4,910 DUE 03/25/33 FITM A2 TERM REPO AGREEMENT	6,318,034
06/16/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR/I/O FLTR 4,910 DUE 03/25/33 FITM A3 REPO AGREEMENT	-6,318,034

027 07/01/05;10:42 001 EFTA00196102 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY **23** of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 THROUGH June 30, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRANSACTION	DESCRIPTION	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
06/16/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR 4,910 DUE 03/25/33 FTIM REPO AGREEMENT	-6,318,034		507,000.00
06/16/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR 4,910 DUE 03/25/33 FTIM REPO AGREEMENT	6,318,034	507,000.00
06/16/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 0,001 DUE 07/01/34 FTIM REPO AGREEMENT	-19,592,834		14,345,000.00
06/16/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 0,001 DUE 07/01/34 FTIM TERM REPO AGREEMENT	19,592,834	14,434,000.00
06/16/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 5,000 DUE 07/01/34 FTIM REPO AGREEMENT	-18,340,469		2,700,000.00
06/16/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 5,000 DUE 07/01/34 FTIM REPO AGREEMENT	-18,340,469		3,703,000.00
06/16/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 5,000 DUE 07/01/34 FTIM REPO AGREEMENT	18,340,469	3,703,000.00

027 07/01/05;10:42 001 EFTA00196103 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 24 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) THROUGH June 30, 2005 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRADE DATE	TRANSACTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT
06/16/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 5,000 DUE 07/01/2014 FITM TERM REPO AGREEMENT	18,340,469	3,844,000.00
06/16/05	JOURNAL	UNITED STATES TREASURY NOTE FITM A1 4,125,00E 05/15/15 REPO AGREEMENT	-48,000,000		48,060,000.00
06/16/05	JOURNAL	UNITED STATES TREASURY NOTE FITM A2 4,125,00E 05/15/15 TERM REPO AGREEMENT	65,000,000	65,081,250.00
06/16/05	INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO STPR DUE 01/01/2033 0,000 FITM REPO INTEREST		32,109.85
06/16/05	INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 DUE 07/01/2034 0,001 FITM REPO INTEREST		40,892.32
06/16/05	INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 DUE 07/01/2034 5,000 FITM REPO INTEREST		10,890.27
06/16/05	INTEREST	UNITED STATES TREASURY NOTE DUE 05/15/2015 4,125 FITM A2 REPO INTEREST		5,260.73

027 07/01/05;10:42 001 EFTA00196104 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 25 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 THROUGH June 30, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRANSACTION	DESCRIPTION	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
06/17/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP FITM REPO AGREEMENT	-4,924,574		3,652,000.00
06/17/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP FITM C2 TERM REPO AGREEMENT	15,246,375	11,253,000.00
06/17/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR 4,010 DUE 07/25/17 FITM A2 TERM REPO AGREEMENT	17,451,605
06/17/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-52 KS-I/O FLTR 4,010 DUE 07/25/17 FITM A3 TERM REPO AGREEMENT	-17,451,605
06/17/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FITM A3 REPO AGREEMENT	-13,929,377		10,000,000.00
06/17/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FITM A1 REPO AGREEMENT	-13,929,377		10,342,000.00
06/17/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FITM A2 REPO AGREEMENT	13,929,377	10,342,000.00

027 07/01/05;10:42 001 EFTA00196105 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 26 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 THROUGH June 30, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRADE DATE	TRANSACTION	SYMBOL/CUSP	QUANTITY	DEBIT AMOUNT
06/17/05	INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO STRIP DUE 01/01/2003 0,000 FITM C2 REPO INTEREST		1,081.54
06/22/05	JOURNAL	UNITED STATES TREASURY NOTE FITM A1 4,125 DUE 05/15/15 REPO AGREEMENT	-28,000,000		28,210,000.00
06/22/05	JOURNAL	UNITED STATES TREASURY NOTE FITM A2 4,125 DUE 05/15/15 TERM REPO AGREEMENT	48,000,000	48,060,000.00
06/22/05	INTEREST	UNITED STATES TREASURY NOTE DUE 05/15/2015 4,125 FITM A2 REPO INTEREST	10,439.70
06/23/05	JOURNAL	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 3,690 DUE 02/20/33 FITM B2 TERM REPO AGREEMENT	26,400,000	2,000,000.00
06/23/05	JOURNAL	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 3,690 DUE 02/20/33 FITM A1 REPO AGREEMENT	-26,400,000		2,515,000.00
06/23/05	INTEREST	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS DUE 02/20/2033 3,690 FITM B2 REPO INTEREST	1,872.22
06/27/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCP-U/O FLTR 4,910 DUE 02/25/33 FITM A4 TERM REPO AGREEMENT	6,196,744

027 07/01/05;10:42 001 EFTA00196106 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 27 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 THROUGH June 30, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) AGCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRADE DATE	TRANSACTION	SYMBOL/CUSIP	DEBIT AMOUNT	CREDIT AMOUNT
06/27/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR 4,910 DUE 03/25/33 FTIM A1 REPO AGREEMENT	-12,393,489
06/27/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR 4,910 DUE 03/25/33 FTIM A2 TERM REPO AGREEMENT	6,196,744	492,000.00
06/27/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR 4,910 DUE 03/25/33 FTIM A2 TERM REPO AGREEMENT	12,393,489	984,000.00
06/27/05	JOURNAL	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR 4,910 DUE 03/25/33 FTIM A3 TERM REPO AGREEMENT	-12,393,489		984,000.00
06/27/05	JOURNAL	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-30 CLASS SU 3,940 DUE 02/20/32 FTIM A1 REPO AGREEMENT	-24,430,632
06/27/05	JOURNAL	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-30 CLASS SU 3,940 DUE 02/20/32 FTIM A2 TERM REPO AGREEMENT	24,430,632	1,297,000.00
06/27/05	JOURNAL	FREDDIE MAC CMO/SERIES 2886 SC/I/O FLTR 4,080 DUE 07/15/19 FTIM A1 REPO AGREEMENT	-5,051,428

027 07/01/05;10:42 001 EFTA00196107 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 28 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) THROUGH June 30, 2005 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRANSACTION	DESCRIPTION	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
06/27/05	JOURNAL	FREDIE MAC CMO/SERIES 2886 SC/I/O FLTR 4,080 DUE 07/15/19 FTIM A2 TERM REPO AGREEMENT	5,051,428	296,000.00
06/27/05	RECEIVED	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 5,000 DUE 05/31/07 FTIM A1 RESALE AGREEMENT	34,000,000	34,127,500.00
06/27/05	DELIVERED	UNITED STATES TREASURY NOTE DUE 05/31/2007 3,500 S 500 DUE 05/31/07 FTIM A6 TERM RESALE AGREEMENT	-54,000,000		54,067,500.00
06/27/05	INTEREST	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR DUE 03/25/2033 4,910 FTIM A2 REPO INTEREST		794.58
06/27/05	INTEREST	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR DUE 03/25/2033 4,910 FTIM A2 REPO INTEREST		1,589.16
06/27/05	INTEREST	FANNIE MAE CMO/SERIES 2003-13 S RCR-I/O FLTR DUE 03/25/2033 4,910 FTIM A3 REPO INTEREST		1,589.16
06/27/05	INTEREST	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-30 CLASS SU DUE 02/20/2032 3,940 FTIM B2 REPO INTEREST		2,094.66

027 07/01/05;10:42 001 EFTA00196108 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 29 of 34 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD June 1, 2005 ## REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) THROUGH June 30, 2005 AGCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETTLEMENT DATE	TRANSACTION	DESCRIPTION	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
06/27/05	INTEREST	FREDDIE MAC CMO/SERIES 2886 SCUJ FILR DUE 07/15/2019 FITM A2 REPO INTEREST		478.04
06/27/05	INTEREST	UNITED STATES TREASURY NOTE DUE 05/31/2007 FITM A6 RESALE INTEREST			55,734.58
06/30/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 0,001 DUE 07/01/34 FITM B1 REPO AGREEMENT	-8,518,623		6,373,000.00
06/30/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 5,000 DUE 07/01/34 FITM A1 REPO AGREEMENT	-9,170,234		1,737,000.00
06/30/05	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 5,000 DUE 07/01/34 FITM A4 TERM REPO AGREEMENT	18,340,469	2,700,000.00
06/30/05	JOURNAL	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS IO 5,000 DUE 12/01/34 FITM C1 REPO AGREEMENT	-9,552,843		1,861,000.00
06/30/05	INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 DUE 07/01/2014 FITM A4 REPO INTEREST	3,633.00
TOTAL			-607,638,910.69	$626,942,937.32

027 07/01/05;10:42 001 EFTA00196109 BEAR STEARNS 30 of 34 ## **Transaction Detail** (continued) ## MISCELLANEOUS

DATE MO/DAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
06/01/05	JOURNAL	TO CMDY A/C	203,925.00
06/02/05	JOURNAL	TO CMDY A/C	469,445.00
06/03/05	JOURNAL	FR CMDY A/C		570,183.00
06/07/05	JOURNAL	FR CMDY A/C		35,468.23
06/09/05	JOURNAL	TO CMDY A/C	88,767.00
06/10/05	JOURNAL	FR CMDY A/C		144,391.50
06/13/05	JOURNAL	FR CMDY A/C		897,315.00
06/14/05	JOURNAL	TO CMDY A/C	130,858.50
06/15/05	JOURNAL	TO CMDY A/C	79,985.00
06/16/05	JOURNAL	FR CMDY A/C		6,611.00
06/17/05	JOURNAL	TO CMDY A/C	228,374.50
06/21/05	JOURNAL	FR CMDY A/C		42,660.00
06/23/05	JOURNAL	TO CMDY A/C	317,653.00
06/24/05	JOURNAL	FR CMDY A/C		6,065.00
06/28/05	JOURNAL	MAY 05 CLEARING FEES	2,250.00
06/29/05	JOURNAL	FR CMDY A/C		75,990.50
06/30/05	JOURNAL	FR CMDY A/C		100,310.50
TOTAL			-$1,521,258.00	$1,878,994.73

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY STATEMENT PERIOD June 1, 2005 FINANCIAL TRUST CO INC THROUGH June 30, 2005 AGCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- | 027 07/01/05;10:42 001 V893IP EFTA00196110 BEAR STEARNS CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 31 of 34 FINANCIAL TRUST CO INC Trades Executed Pending Settlement

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/01/05	06/30/05	SOLD	UNITED STATES TREASURY NOTE DUE 06/30/2002, 03,625% JD 30 YIELD 3,625 % TO MATURETY GVER REF # G1813788 B1	-15,000,000.00	99.9977		15,001,132.58
07/01/05	06/30/05	SOLD	UNITED STATES TREASURY NOTE DUE 06/30/2002, 03,625% JD 30 YIELD 3,625 % TO MATURETY GVER REF # G1813788 A1	-50,000,000.00	99.9977		50,003,775.27
07/14/05	06/03/05	BOUGHT	FNMA 30YR TBA GTD SETT, 07/05 DUE 07/01/2035, 05,000% REF # 2005050257110000 BS	15,000,000.00	100.2187	15,032,812.50
07/14/05	06/23/05	BOUGHT	FNMA 30YR TBA GTD SETT, 07/05 DUE 07/01/2035, 05,000% REF # 2005050257210000 BS	30,000,000.00	99.9609	29,988,281.25
07/14/05	05/06/05	SOLD	FNMA 30YR TBA GTD SETT, 07/05 DUE 07/01/2035, 05,000% REF # 2005050057440000 BS	-30,000,000.00	98.5195		29,555,859.38
07/14/05	06/06/05	SOLD	FNMA 30YR TBA GTD SETT, 07/05 DUE 07/01/2035, 05,000% REF # 2005050057140000 BS AS OF 06/06/05	-15,000,000.00	99.5937		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 # 2005050057140000 BS	-15,000,000.00	99.5937		14,939,062.50

027 07/01/05;10:42 001 EFTA00196111 BEAR STEARNS CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 32 of 34 FINANCIAL TRUST CO INC Trades Executed Pending Settlement (continued) STATEMENT PERIOD June 1, 2005

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/14/05	06/07/05	CANCEL SELL	FNMA 30YR TBA GTD SETT, 07/05 DUE 07/01/2035 05,000% REF # 2005060757140000 BS AS OF 06/07/05	-15,000,000.00	99.5937	14,939,062.50
07/14/05	05/19/05	BOUGHT	FNMA-30YR(FNMA)/GTD SETT, 07/06 DUE 07/01/2035 05,500% REF # 2005051957050000 BS	30,000,000.00	100.8671	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	30,000,000.00	101	30,300,000.00
07/14/05	05/06/05	SOLD	FNMA-30YR(FNMA)/GTD SETT, 07/06 DUE 07/01/2035 05,500% REF # 2005050574500000 BS	-30,000,000.00	100.5156		30,154,687.50
07/14/05	05/26/05	SOLD	FNMA-30YR(FNMA)/GTD SETT, 07/06 DUE 07/01/2035 05,500% REF # 2005052657180000 BS	-60,000,000.00	100.9531		60,571,875.00
07/14/05	06/06/05	BOUGHT	FNMA-30YR GTD SETT, 07/05 DUE 07/01/2035 06,000% REF # 2005050757180000 BS AS OF 06/06/05	50,000,000.00	102.6054	51,302,734.38

027 07/01/05;10:42 001 EFTA00196112 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 33 of 34 FINANCIAL TRUST CO INC ## Trades Executed Pending Settlement (continued) STATEMENT PERIOD June 1, 2005 THROUGH June 30, 2005 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | May 31, 2005 | | :--- | :--- |

SETLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/14/05	06/03/05	SOLD	FNMA 30 YR GTD SETT, 07/05 DUE 07/01/2035 06,000% REF # 2005060357070000 BS		-50,000,000.00	102.7968		51,398,437.50
TOTAL							$171,823,046.88	$266,563,892.23

The above trades do not appear in any other section of this statement. ## Your messages Bear Stearns receives payments or other remuneration from the advisers, distributors or other affiliates of certain of the mutual funds available through Bear Stearns. Such payments or remuneration are for administrative, technological or other services provided in connection with fund accounts and are generally calculated based on the amount of assets held in the accounts. Such payments or other remuneration are in addition to shareholder servicing and distribution fees that Bear Stearns may receive. Funds whose affiliates do not make payments to Bear Stearns, including funds that may pay a higher or lower return, may be available to you. NOTICE OF CHANGE PURSUANT TO TRUTH IN LENDING SEC RULE 10b-16 Effective no earlier than thirty (30) days from your receipt of this statement, the annual rate of interest charged on any credit extended to you by Bear Stearns for the purpose of purchasing, carrying or trading in any security or other property shall be based on either the Bear Stearns Margin Basis Rate, the Bear Stearns Fed Funds Rate or the London Interbank Offering Rate ("LIBOR"), as notified to you upon request. The Bear Stearns Margin Basis Rate will be quoted daily by Bear Stearns at our main office in New York. Factors affecting the determination of the Bear Stearns Margin Basis Rate will include the short-term market interest rates quoted by money center banks and the Federal Reserve and the rate that Bear Stearns is charged for borrowing money. The Bear Stearns Fed Funds Rate is the rate for U.S. dollar funds, as quoted by an independent broker of such funds selected by Bear Stearns for the last transaction completed prior to 9:30 a.m. (Eastern Time) on the business day on which such rate is determined. The annual rate of interest will be no more than 3% above the Bear Stearns Margin Basis Rate or 4% above either the Bear Stearns Fed Funds Rate or LIBOR and will appear on your monthly statements. 027 07/01/05;10:42 001 EFTA00196113 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 34 of 34 If Bear Stearns makes changes in any of the credit terms and conditions described herein or if a change is required by law, we will notify you of such change within a reasonable period of time, unless such change results in the same or a higher rate to you, in which case we will provide you at least 30 days' prior written notice. The annual rate of interest you are charged is tied to the Bear Stearns Margin Basis Rate, the Bear Stearns Fed Funds Rate or LIBOR and may fluctuate with those rates. The changes in rates resulting from this fluctuation will be made without prior notice to you (as contrasted with changes in the credit terms and conditions, notice of which will be provided as described above). Except as described above, the Truth in Lending disclosure previously provided to you remains in effect, CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY ******* End of Statement******* FINANCIAL TRUST CO INC AGCOUNT NUMBER STATEMENT PERIOD June 1, 2005 | LAST STATEMENT | May 31, 2005 | | :--- | :--- | TAXPAYER NUMBER On File THROUGH June 30, 2005 027 07/01/05;10:42 001