Financial record, 2005-04

EFTA00196152¶

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	36

FINANCIAL TRUST CO INC

C/O JEFFREY EPSTEIN

6100 RED HOOK QUARTER

ST B3

ST THOMAS VI 00802

Your Portfolio at a Glance¶

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSIDIARY¶

TOTAL VALUE OF SECURITIES THIS PERIOD	2,900,677
LONG ACCRUED INTEREST	49,699
NET CREDIT BALANCE	180,992
NET EQUITY THIS PERIOD	$3,131,368
NET EQUITY LAST STATEMENT	3,471,276
CHANGE SINCE LAST STATEMENT	-339,907

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

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

TAXPAYER NUMBER On File¶

FINANCIAL TRUST CO INC¶

ACCOUNT NUMBER¶

Market Value of Your Portfolio¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 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	$77,667.54
Securities Sold	1,359,111,947.26
Dividends/Interest	852,373.23
Miscellaneous	2,204,993.35
Amount Credited	$1,362,169,313.84
Securities Bought	-1,358,335,855.07
Dividends/Interest Charged	-925,716.62
Miscellaneous	-2,804,417.29
Amount Debited	$-1,362,065,988.98
Net Cash Activity	103,324.86
Closing Balance	$180,992.40

Cash Balance Summary¶

	OPENING	CLOSING
Margin	77,667.54	180,992.40
Net Cash Balance	$77,667.54	$180,992.40

Income Summary¶

	THIS PERIOD	YEAR TO DATE
U.S.Govt.Bond Int.	185,544.78	2,696,001.23
Govt.Agency Int.	552,438.36	2,574,774.36
Corp.Bond Int.	113,515.89	488,527.96
Credit Balance Int.	874.20	2,834.20
Reverse Repurchase Int.	167,202.34	993,733.64
Total	$1,019,575.57	$6,755,871.39
Bond Purchase Int.	-925,716.62	-4,426,001.99
Repurchase Int. Exp.	-242,166.81	-642,859.23

Portfolio Composition¶

Cash/Cash Equivalent	180,992
Fixed Income	2,900,677
Total	$3,081,669

STATEMENT PERIOD April 1, 2005¶

FINANCIAL TRUST CO INC¶

THROUGH April 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 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.¶

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BEAR STEARNS¶

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

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

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Your Portfolio Holdings¶

FINANCIAL TRUST CO INC¶

DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CASH BALANCE				180,992
TOTAL CASH & CASH EQUIVALENTS				$180,992

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

ACCOUNT NUMBER¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

Government & Agency Obligations¶

FIXED INCOME¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ACCREDITED INTEREST	ESTimated ANNUAL INCOME	Current YIELD (%)
FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW DATED DATE 04/30/03 BOOK ENTRY ONLY DUE 01/25/2033 3,980% FACTOR = .53416049		MRGN	12,983,710	8,0124	1,040,305	5,741	516,752	49,6731
FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO DATED DATE 02/01/05 BOOK ENTRY ONLY DUE 02/01/2035 6,000% FACTOR = .94196062		MRGN	9,419,607	19,7500	1,860,372	43,958	565,176	30,3797
Total Government& Agency Obligations					$2,900,677	$49,699	$1,081,928
TOTAL FIXED INCOME					$2,900,677	$49,699	$1,081,928

YOUR PORTFOLIOHOLDINGSACCRUED INTEREST	$49,699
YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME	$1,081,928
YOUR PRICED PORTFOLIOHOLDINGS	$3,081,669

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FINANCIAL TRUST CO INC¶

Repurchase and Reverse Repurchase Transactions¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

	PURCHASE/ START DATE	REPURCHASE DATE	PRICING RATE	PURCHASE PRICE/ PRINCIPAL	ASCRAUED REPO INTEREST*	QUANTITY (FACE AMOUNT)	CUSIP	DESCRIPTION
YOU PROVIDED (MARGIN)	02/07/05	OPEN	0,000			-50,000,000		FEDERAL NATIONAL MTG ASSOC SERIES 2003-13 CLASS 4,9800 03/25/33
YOU SOLD (REPO)	04/04/05	05/04/05	3,080	-473,000	-1,133	-910,000		FANNIEMAE STRIP SERIES 346 CLASS PO 11/01/33
YOU SOLD (REPO)	04/11/05	05/11/05	3,130	-10,583,000	-19,322	-30,000,000		FANNIEMAE STRIP SERIES 329 CLASS PO 12/01/32
YOU SOLD (REPO)	04/11/05	05/11/05	3,130	-4,553,000	-8,313	-9,090,000		FANNIEMAE STRIP SERIES 346 CLASS PO 11/01/33
YOU SOLD (REPO)	04/11/05	05/11/05	3,130	-1,143,000	-2,086	-5,000,000		FEDERAL HOME LOAN STRIP SERIES 227 CLASS IO 5,0000 12/01/34
YOU SOLD (REPO)	04/13/05	05/13/05	3,150	-556,000	-924	-2,500,000		FEDERAL HOME LOAN STRIP SERIES 227 CLASS IO 5,0000 12/01/34
YOU SOLD (REPO)	04/15/05	05/16/05	3,180	-11,174,000	-16,779	-30,959,779		FANNIEMAE STRIP SERIES 329 CLASS PO 12/01/32
YOU SOLD (REPO)	04/15/05	05/16/05	3,180	-4,211,000	-6,323	-20,000,000		FANNIE MAE STRIP SERIES 353 CLASS IO 5,0000 07/01/34
YOU SOLD (REPO)	04/15/05	05/16/05	3,180	-3,665,000	-5,503	-20,000,000		FREDIEMAC STRIP SERIES 228 CLASS IO 6,0000 02/01/35
YOU SOLD (REPO)	04/20/05	05/16/05	3,200	-14,660,000	-15,637	-23,000,000		FANNIE MAE STRIPS SERIES 352 CLASS PO 07/01/34
YOU SOLD (REPO)	04/22/05	05/16/05	3,230	-1,837,000	-1,648	-8,500,000		FEDERAL HOME LOAN STRIP SERIES 227 CLASS IO 5,0000 12/01/34

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STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

	PURCHASE/ START DATE	REPURCHASE DATE	PRICING RATE	PURCHASE PRICE/ PRINCIPAL	ACCRUED REPO INTEREST*	QUANTITY (FACE AMOUNT)	CUSIP	DESCRIPTION
YOU SOLD (REPO) 04/22/05 05/16/05 3,230 -528,000 -473 -3,000,000
YOU PROVIDED (MARGIN) 04/22/05 OPEN 0,000
YOU PROVIDED (MARGIN) 04/25/05 OPEN 0,000
YOU SOLD (REPO) 04/25/05 05/11/05 5,130 -536,000 -534 -2,500,000
YOU PROVIDED (MARGIN) 04/25/05 OPEN 0,000
YOU SOLD (REPO) 04/29/05 OPEN 2,750 -59,400,000 -13,612 -60,000,000
TOTAL REVERSE REPURCHASE TRANSACTIONS $0 $0
TOTAL REPURCHASE TRANSACTIONS $-113,319,000 $-92,287

As of statement date¶

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FINANCIAL TRUST CO INC¶

Transaction Detail¶

INVESTMENT ACTIVITY¶

STATEMENT PERIOD April 1, 2005¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBT AMOUNT	CREDIT AMOUNT
04/01/05	03/31/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 12/31/2006 03,00% JD 30 YIELD: 3,795 % TO MATURITY GVER REF # G0901002 A1		50,000,000 ACCR, INT.	98,73047	49,365,234,38 377,071,82
04/01/05	03/31/05	SOLD	UNITED STATES TREASURY NOTE DUE 03/31/2007 03,75% MS 31 Yield: 3,795 % TO MATURITY GVER REF # G0901006 A1		-30,000,000	99,91406	ACCR, INT.	29,974,218,75 3,073,77
04/01/05	03/31/05	SOLD	UNITED STATES TREASURY NOTE DUE 03/31/2007 03,75% MS 31 Yield: 3,795 % TO MATURITY GVER REF # G0901006 B1		-50,000,000	99,91406	ACCR, INT.	49,957,031,25 5,122,95
04/07/05		PRINCIPAL	FED HOME LOAN MTD CORP#S10110 SERIES 228 CLASS ID 6,000 DUE 02/01/35 PRINCIPAL REDUCTN 04-15-05		-335,609
04/08/05	04/07/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 02/15/2015 04,00% FA 15 SPECIAL INSTRUCTIONS YIELD: 4,412 % TO MATURITY GVER REF # G0970029 A7 AS OF 04/07/05		40,000,000 ACCR, INT.	96,73438	38,693,750,00 229,834,25
04/13/05	03/16/05	BOUGHT	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,000% REF # 20050311657130000 BS		5,000,000	97,93359	4,896,679,69
04/13/05	03/14/05	BOUGHT	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,000% REF # 20050311657280000 BS		10,000,000	97,71094	9,771,093,75

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FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH April 29, 2005¶

ACCOUNT NUMBER¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/13/05	03/08/05	CANCEL SELL	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,000% REF # 2005030858030000 BS AS OF 03/08/05 TO CXL PREVIOUS SELL		10,000,000	98,46875	9,846,875,00
04/13/05	03/09/05	CANCEL SELL	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,000% REF # 2005030857380000 BS AS OF 03/09/05 TO CXL PREVIOUS SELL		15,000,000	97,92188	14,688,281,25
04/13/05	03/15/05	BOUGHT	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,000% REF # 2005031557140000 BS		20,000,000	97,57813	19,515,625,00
04/13/05	03/14/05	CANCEL SELL	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,000% REF # 2005031457080000 BS AS OF 03/14/05 TO CXL PREVIOUS SELL		20,000,000	97,65625	19,531,250,00
04/13/05	03/18/05	CANCEL SELL	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,000% REF # 2005031857000000 BS AS OF 03/18/05 TO CXL PREVIOUS SELL		20,000,000	97,91016	19,582,031,25
04/13/05	03/18/05	CANCEL SELL	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,000% REF # 2005031857050000 BS AS OF 03/18/05 TO CXL PREVIOUS SELL		20,000,000	97,92188	19,584,375,00

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FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH April 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/13/05	03/09/05	CANCEL SELL	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,00% REF # 20050300576720000 BS AS OF 03/09/05 TO CXL PREVIOUS SELL		20,000,000	97,99219	19,598,437,50
04/13/05	03/08/05	CANCEL SELL	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,00% REF # 2005030057670000 BS AS OF 03/08/05 TO CXL PREVIOUS SELL		20,000,000	98,53125	19,706,250,00
04/13/05	03/21/05	BOUGHT	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,00% REF # 2005032157140000 BS		40,000,000	97,75000	39,100,000,00
04/13/05	03/30/05	BOUGHT	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,00% REF # 2005033057320000 BS		50,000,000	97,39844	48,699,218,75
04/13/05	03/16/05	CANCEL BUY	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,00% REF # 2005031657130000 BS AS OF 03/16/05 TO CXL PREVIOUS BUY		-5,000,000	97,93359		4,896,679,69
04/13/05	03/14/05	CANCEL BUY	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,00% REF # 2005031457280000 BS AS OF 03/14/05 TO CXL PREVIOUS BUY		-10,000,000	97,71094		9,771,093,75

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FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH April 29, 2005¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/13/05	03/08/05	SOLD	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035, 05,000% REF # 2005030858030000 BS		-10,000,000	98,46875		9,846,875,00
04/13/05	03/09/05	SOLD	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035, 05,000% REF # 2005030957380000 BS		-15,000,000	97,92188		14,688,281,25
04/13/05	03/15/05	CANCEL BUY	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035, 05,000% REF # 2005031557140000 BS AS OF 03/15/05 TO CXL PREVIOUS BUY		-20,000,000	97,57813		19,515,625,00
04/13/05	03/14/05	SOLD	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035, 05,000% REF # 2005031457080000 BS		-20,000,000	97,65625		19,531,250,00
04/13/05	03/18/05	SOLD	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035, 05,000% REF # 200503185700000 BS		-20,000,000	97,91016		19,582,031,25
04/13/05	03/18/05	SOLD	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035, 05,000% REF # 2005031857050000 BS		-20,000,000	97,92188		19,584,375,00
04/13/05	03/09/05	SOLD	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035, 05,000% REF # 2005031857320000 BS		-20,000,000	97,99219		19,598,437,50

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FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

INVESTMENT ACTIVITY (continued)¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

ACCOUNT NUMBER¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOLICUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/13/05	03/08/05	SOLD	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,000% REF # 2005030857670000 BS		-20,000,000	98,53125		19,706,250,00
04/13/05	03/21/05	CANCEL BUY	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,000% REF # 2005032157140000 BS AS OF 03/21/05 TO CXL PREVIOUS BUY		-40,000,000	97,75000		39,100,000,00
04/13/05	03/30/05	CANCEL BUY	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,000% REF # 2005030857320000 BS AS OF 03/30/05 TO CXL PREVIOUS BUY		-50,000,000	97,39844		48,699,218,75
04/13/05	03/14/05	BOUGHT	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,500% REF # 2005031457290000 BS		5,000,000	100,13281	5,006,640,63
04/13/05	03/16/05	BOUGHT	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,500% REF # 2005031657240000 BS		5,000,000	100,26563	5,013,281,25
04/13/05	03/08/05	CANCEL SELL	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,500% REF # 2005030858150000 BS AS OF 03/08/05 TO CXL PREVIOUS SELL		10,000,000	100,70703	10,070,703,13

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EFTA00196163¶

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FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH April 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/13/05	03/09/05	CANCEL SELL	FMMA 30YR GTD SETT, 04/05 DUE 04/01/2035, 05,500% REF # 2005030857390000 BS AS OF 03/09/05 TO CXL PREVIOUS SELL		15,000,000	100,28125	15,042,187,50
04/13/05	03/09/05	CANCEL SELL	FMMA 30YR GTD SETT, 04/05 DUE 04/01/2035, 05,500% REF # 2005030857280000 BS AS OF 03/09/05 TO CXL PREVIOUS SELL		20,000,000	100,34766	20,069,531,25
04/13/05	03/29/05	BOUGHT	FMMA 30YR GTD SETT, 04/05 DUE 04/01/2035, 05,500% REF # 2005032957130000 BS AS OF 03/29/05		20,000,000	101,48438	20,296,875,00
04/13/05	03/30/05	BOUGHT	FMMA 30YR GTD SETT, 04/05 DUE 04/01/2035, 05,500% REF # 2005033057390000 BS		35,000,000	99,81250	34,934,375,00
04/13/05	03/14/05	CANCEL BUY	FMMA 30YR GTD SETT, 04/05 DUE 04/01/2035, 05,500% REF # 2005031457290000 BS AS OF 03/14/05 TO CXL PREVIOUS BUY		-5,000,000	100,13281		5,006,640,63
04/13/05	03/16/05	CANCEL BUY	FMMA 30YR GTD SETT, 04/05 DUE 04/01/2035, 05,500% REF # 2005031657240000 BS AS OF 03/16/05 TO CXL PREVIOUS BUY		-5,000,000	100,26563		5,013,281,25

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EFTA00196164¶

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FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH April 29, 2005¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/13/05	03/08/05	SOLD	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,500% REF # 2005030858150000 BS		-10,000,000	100,70703		10,070,703,13
04/13/05	03/09/05	SOLD	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,500% REF # 2005030857390000 BS		-15,000,000	100,28125		15,042,187,50
04/13/05	03/09/05	SOLD	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,500% REF # 2005030857280000 BS		-20,000,000	100,34766		20,069,531,25
04/13/05	03/29/05	CANCEL BUY	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,500% REF # 2005030857130000 BS AS OF 03/29/05 TO CXL PREVIOUS BUY		-20,000,000	101,48438		20,296,875,00
04/13/05	03/30/05	CANCEL BUY	FNMA 30YR GTD SETT, 04/05 DUE 04/01/2035 05,500% REF # 200503085790000 BS AS OF 03/30/05 TO CXL PREVIOUS BUY		-35,000,000	99,81250		34,934,375,00
04/13/05	03/29/05	CANCEL SELL	FNMA-30YR/FNMA/GTD SETT, 04/05 DUE 04/01/2035 06,000% REF # 2005032957090000 BS AS OF 03/29/05 TO CXL PREVIOUS SELL		20,000,000	101,71875	20,343,750,00

027¶

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EFTA00196165¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

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FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH April 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/13/05	03/30/05	CANCEL SELL	FNMA-30YR(FNMA)/GTD SETTIE,04/05 DUE 04.01/2035 06,000% REF # 2005032957150000 BS AS OF 03/30/05 TO CXL PREVIOUS SELL		20,000,000	101,92188	20,384,375,00
04/13/05	04/06/05	BOUGHT	FNMA-30YR(FNMA)/GTD SETTIE,04/05 DUE 04.01/2035 06,000% REF # 200504057500000 BS		20,000,000	102,45313	20,490,625,00
04/13/05	04/07/05	BOUGHT	FNMA-30YR(FNMA)/GTD SETTIE,04/05 DUE 04.01/2035 06,000% REF # 2005040757250000 BS		20,000,000	102,64063	20,528,125,00
04/13/05	03/29/05	SOLD	FNMA-30YR(FNMA)/GTD SETTIE,04/05 DUE 04.01/2035 06,000% REF # 2005032957090000 BS		-20,000,000	101,71875		20,343,750,00
04/13/05	03/30/05	SOLD	FNMA-30YR(FNMA)/GTD SETTIE,04/05 DUE 04.01/2035 06,000% REF # 2005033057150000 BS		-20,000,000	101,92188		20,384,375,00
04/13/05	04/06/05	CANCEL BUY	FNMA-30YR(FNMA)/GTD SETTIE,04/05 DUE 04.01/2035 06,000% REF # 200504057500000 BS AS OF 04/06/05 TO CXL PREVIOUS BUY		-20,000,000	102,45313		20,490,625,00

027¶

04/30/05;11:24 001¶

EFTA00196166¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

15 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH April 29, 2005¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/13/05	04/07/05	CANCEL BUY	FNMA-30YR(FNMA)GTD SETT,04/05 DUE 04/01/2007 06,000% REF # 2005040757250000 BS AS OF 04/07/05 TO CXL PREVIOUS BUY		-20,000,000	102,64063		20,528,125,00
04/13/05	04/12/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 03/31/2007 03,750% MS 31 YEILT, 04/05 DUE Maturity GVER REF # G1021009 A1		20,000,000 ACCR, INT.	100,10156	20,020,312,50 26,639,34
04/18/05	03/29/05	BOUGHT	FNMA 30YR GTD SETT,04/05 DUE 04/01/2005 05,500% REF # 2005032957130000 BS		20,000,000	101,48438	20,296,875,00
04/18/05	03/29/05	CANCEL BUY	FNMA 30YR GTD SETT,04/05 DUE 04/01/2005 05,500% REF # 2005032957130000 BS AS OF 03/29/05 TO CXL PREVIOUS BUY		-20,000,000	101,48438		20,296,875,00
04/18/05	03/15/05	CANCEL SELL	FNMA-15YR(FNMA-15)GTD SETT,04/05 DUE 04/01/2020 04,500% REF # 2005031557250000 BS AS OF 03/15/05 TO CXL PREVIOUS SELL		20,000,000	97,74219	19,548,437,50
04/18/05	03/14/05	BOUGHT	FNMA-15YR(FNMA-15)GTD SETT,04/05 DUE 04/01/2020 04,500% REF # 2005031457040000 BS		20,000,000	97,77344	19,554,687,50

027¶

04/30/05;11:24 001¶

EFTA00196167¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

16 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH April 29, 2005¶

ACCOUNT NUMBER¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/18/05	03/09/05	CANCEL SELL	FNMA-15YR(FNMA-15)GTD SETT,04/05 DUE 04/01/2020, 04,500% REF # 2005030857590000 BS AS OF 03/09/05 TO CXL PREVIOUS SELL		20,000,000	97,95313	19,590,625,00
04/18/05	03/08/05	BOUGHT	FNMA-15YR(FNMA-15)GTD SETT,04/05 DUE 04/01/2020, 04,500% REF # 2005030857680000 BS		20,000,000	98,54688	19,709,375,00
04/18/05	03/15/05	SOLD	FNMA-15YR(FNMA-15)GTD SETT,04/05 DUE 04/01/2020, 04,500% REF # 2005031557250000 BS		-20,000,000	97,74219		19,548,437,50
04/18/05	03/14/05	CANCEL BUY	FNMA-15YR(FNMA-15)GTD SETT,04/05 DUE 04/01/2020, 04,500% REF # 2005031457040000 BS AS OF 03/14/05 TO CXL PREVIOUS BUY		-20,000,000	97,77344		19,554,687,50
04/18/05	03/09/05	SOLD	FNMA-15YR(FNMA-15)GTD SETT,04/05 DUE 04/01/2020, 04,500% REF # 2005030957590000 BS		-20,000,000	97,95313		19,590,625,00
04/18/05	03/08/05	CANCEL BUY	FNMA-15YR(FNMA-15)GTD SETT,04/05 DUE 04/01/2020, 04,500% REF # 2005030857680000 BS AS OF 03/08/05 TO CXL PREVIOUS BUY		-20,000,000	98,54688		19,709,375,00

027¶

04/30/05;11:24 001¶

EFTA00196168¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

17 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH April 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/18/05	03/29/05	BOUGHT	FNMA-15YR(FNMA-15)GTD SETTI,04/05 DUE 04/01/2020, 05,500% REF # 2005032957130000 BS AS OF 03/29/05		20,000,000	101,48438	20,296,875,00
04/18/05	03/30/05	BOUGHT	FNMA-15YR(FNMA-15)GTD SETTI,04/05 DUE 04/01/2020, 05,500% REF # 2005033057110000 BS		20,000,000	101,64063	20,328,125,00
04/18/05	04/06/05	CANCEL SELL	FNMA-15YR(FNMA-15)GTD SETTI,04/05 DUE 04/01/2020, 05,500% REF # 2005040857540000 BS AS OF 04/06/05 TO CXL PREVIOUS SELL		20,000,000	102,06250	20,412,500,00
04/18/05	04/07/05	CANCEL SELL	FNMA-15YR(FNMA-15)GTD SETTI,04/05 DUE 04/01/2020, 05,500% REF # 2005040757290000 BS AS OF 04/07/05 TO CXL PREVIOUS SELL		20,000,000	102,17188	20,434,375,00
04/18/05	03/29/05	CANCEL BUY	FNMA-15YR(FNMA-15)GTD SETTI,04/05 DUE 04/01/2020, 05,500% REF # 2005032957130000 BS AS OF 03/29/05 TO CXL PREVIOUS BUY		-20,000,000	101,48438		20,296,875,00
04/18/05	03/30/05	CANCEL BUY	FNMA-15YR(FNMA-15)GTD SETTI,04/05 DUE 04/01/2020, 05,500% REF # 2005033057110000 BS AS OF 03/30/05 TO CXL PREVIOUS BUY		-20,000,000	101,64063		20,328,125,00

027¶

04/30/05;11:24 001¶

EFTA00196169¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

18 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

INVESTMENT ACTIVITY (continued)¶

STATEMENT PERIOD April 1, 2005¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/18/05	04/06/05	SOLD	FNMA-15YR/FNMA-15/GTD SETT,04/05 DUE 04/01/2020 05,500% REF # 200504057540000 BS		-20,000,000	102,06250		20,412,500,00
04/18/05	04/07/05	SOLD	FNMA-15YR/FNMA-15/GTD SETT,04/05 DUE 04/01/2020 05,500% REF # 2005040757290000 BS		-20,000,000	102,17188		20,434,375,00
04/18/05	04/15/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 02/15/2015 04,00% FA 15 SPECIAL INSTRUCTIONS YIELD 4,286 % TO MATURITY GVER REF # G1053517 A3 WWEB		5,000,000 ACCR, INT.	97,71875	4,885,937,50 34,254,14
04/19/05	04/18/05	SOLD	UNITED STATES TREASURY NOTE DUE 02/15/2015 04,00% FA 15 YIELD 4,244 % TO MATURITY GVER REF # G1081006 A1		-15,000,000	98,05469 ACCR, INT.	14,708,203,13 104,419,88
04/20/05	04/18/05	BOUGHT	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 DUE 07/01/2024 00,001% REF # 2005041857040000 BS		20,311,170	78,68750	15,982,352,30
04/22/05	04/21/05	SOLD	UNITED STATES TREASURY NOTE DUE 02/15/2015 04,00% FA 15 Yield 4,228 % TO MATURITY GVER REF # G1111026 A1		-10,000,000	97,62500 ACCR, INT.	9,762,500,00 72,928,18
04/25/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP PRIN R/D 03-05 P/D 04-25-05 REPO P & I 0,0000				405,707,10

027¶

04/30/05;11:24 001¶

EFTA00196170¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

19 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH April 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/25/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STEM PRIN R/D 03-05 P/D 04-25-05 REPO P & I 0,0000					418,686,74
04/25/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW 4,150 DUE 01/25/33 PRINCIPAL REDUCTN 04-25-05	-342,955
04/25/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 PRIN R/D 03-05 P/D 04-25-05 REPO P & I 0,0000					16,920,27
04/25/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 PRIN R/D 03-05 P/D 04-25-05 REPO P & I 0,0000					38,860,83
04/25/05		PRINCIPAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 PRIN R/D 03-05 P/D 04-25-05 REPO P & I 0,0000					130,155,90
04/28/05	04/27/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 03/31/2007 03,75% MS 31 SPECIAL INSTRUCTIONS YIELD 3,586 % TO MATURITY GVER REF # G1173441 A3 WWEB	10,000,000 ACCR, INT.	100,28125	10,028,125,00
04/29/05	04/28/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 02/15/2015 04,00% FA 15 YIELD 4,152 % TO MATURITY GVER REF # G1181014 A1	10,000,000 ACCR, INT.	98,78125	9,878,125,00

027¶

04/30/05;11:24 001¶

EFTA00196171¶

BEAR STEARNS¶

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

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

20 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

INVESTMENT ACTIVITY (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/29/05	04/28/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 03/31/2007 03.750% MS 31 YIELD 3,585 % TO MATURITY GVER REF # G1181005 A1		50,000,000	100,30078	50,150,390.63
					ACCR, INT.		148,565.57

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

INTEREST¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
04/01/05	AVG BAL 528.740 RT 1.920 021 OFFICE INTEREST 0305					874.20
04/15/05	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS IO DUE 12/01/2034 5,000 INT R/D 03-05 P/D 04-15-05 REPO P & I 5,0000			5,0000		34,736.63
04/15/05	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS IO DUE 12/01/2034 5,000 INT R/D 03-05 P/D 04-15-05 REPO P & I 5,0000			5,0000		46,996.61
04/15/05	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO DUE 02/01/2035 6,000 INT R/D 03-05 P/D 04-15-05 REPO P & I 6,0000			6,0000		48,776.08
04/15/05	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO DUE 02/01/2035 6,000 INT R/D 03-05 P/D 04-15-05 REPO P & I 6,0000			6,0000		48,776.08

027¶

04/30/05;11:24 001¶

V877¶

EFTA00196172¶

BEAR STEARNS¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

21 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

INTEREST (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBT AMOUNT	CREDIT AMOUNT
04/15/05	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO DUE 02/01/2035 6,000 INT R/D 03-05 P/D 04-15-05 REPO P & I 6,000		6,000			48,776,08
04/15/05	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO DUE 02/01/2035 6,000 INTEREST PAYMENT 04-15-05		6,000			48,776,08
04/20/05	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS DUE 02/20/2033 4,100 INT R/D 03-05 P/D 04-20-05 REPO P & I 4,100		4,100			14,691,67
04/20/05	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS DUE 02/20/2033 4,100 INT R/D 03-05 P/D 04-20-05 REPO P & I 4,100		4,100			60,133,33
04/20/05	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS DUE 02/20/2033 4,100 INT R/D 03-05 P/D 04-20-05 REPO P & I 4,100		4,100			75,508,33
04/25/05	FANNIE MAE CMO/SERIES 2003-13 S ROR-I/O FLTR DUE 03/25/2033 5,150 INT R/D 03-05 P/D 04-25-05 REPO P & I 5,150		5,150			113,515,89
04/25/05	FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW DUE 01/25/2033 4,150 INTEREST PAYMENT 04-25-05		4,150			46,088,05

027¶

04/30/05;11:24 001¶

EFTA00196173¶

BEAR STEARNS¶

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

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

22 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

INTEREST (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
04/25/05	FEDERAL NATIONAL MTG ASSN			5,0000		79,179.42
	SERIES 353 CLASS 2
	DUE 07/01/2034 5,000
	INT R/D 03-05 P/D 04-25-05
	REPO P & I 5,0000
TOTAL						4,000,000.45

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

027¶

04/30/05;11:24 001¶

EFTA00196174¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

23 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
04/08/05	JOURNAL	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FITM TERM REPO AGREEMENT		1,517,805
04/08/05	JOURNAL	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FITM REPO AGREEMENT		-1,089,333
04/08/05	JOURNAL	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FITM REPO AGREEMENT		-428,471		297,000,00
04/08/05	JOURNAL	JOURNAL	UNITED STATES TREASURY NOTE FITM A2 4,000 DUE 02/15/15 TERM REPO AGREEMENT		30,000,000	28,800,000,00
04/08/05	JOURNAL	JOURNAL	UNITED STATES TREASURY NOTE FITM A1 4,000 DUE 02/15/15 REPO AGREEMENT		-70,000,000		67,550,000,00
04/08/05	INTEREST	INTEREST	UNITED STATES TREASURY NOTE DUE 02/15/2015 4,000 FITM A2 REPO INTEREST			22,200,00
04/11/05	JOURNAL	JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP FITM REPO AGREEMENT		-15,359,406		10,583,000,00

027¶

04/30/05;11:24 001¶

EFTA00196175¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

24 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBT AMOUNT	CREDIT AMOUNT
04/11/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP FITM REPO AGREEMENT		15,359,406	10,583,000,00
04/11/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP FITM REPO AGREEMENT		-15,359,406		10,583,000,00
04/11/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP FITM TERM REPO AGREEMENT		15,359,406	11,902,000,00
04/11/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FITM TERM REPO AGREEMENT		1,089,333
04/11/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FITM TERM REPO AGREEMENT		428,471	297,000,00
04/11/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FITM TERM REPO AGREEMENT		5,083,557	3,608,000,00
04/11/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33 FITM TERM REPO AGREEMENT		-6,601,362		4,553,000,00

027¶

04/30/05;11:24 001¶

EFTA00196176¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

25 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

027¶

04/30/05;11:24 001¶

EFTA00196177¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

26 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
04/11/05		INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO STRIP DUE 01/01/2033 0,000 FITM AZ REPO INTEREST			83,208,20
04/11/05		INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/2033 0,000 FITM AZ REPO INTEREST			77,22
04/11/05		INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/2033 0,000 FITM AZ REPO INTEREST			8,474,79
04/11/05		INTEREST	GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS DUE 02/20/2033 4,100 FITM AZ REPO INTEREST			18,183,88
04/11/05		INTEREST	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO DUE 02/01/2035 6,000 FITM AZ REPO INTEREST			3,206,38
04/13/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS IO 5,000 DUE 12/01/204 FITM AZ TERM REPO AGREEMENT			6,309,622
04/13/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS IO 5,000 DUE 12/01/204 FITM AZ REPO AGREEMENT			-3,882,844

027¶

04/30/05;11:24 001¶

EFTA00196178¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

27 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

027¶

04/30/05;11:24 001¶

EFTA00196179¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

28 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
04/15/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP FITM REPO AGREEMENT		-15,850,794		11,174,000,00
04/15/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01/01/33 STRIP FITM TERM REPO AGREEMENT		15,850,794	11,248,000,00
04/15/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 5,000 DUE 02/01/34 FITM A2 TERM REPO AGREEMENT		18,763,230	3,500,000,00
04/15/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 5,000 DUE 02/01/34 FITM A1 REPO AGREEMENT		-18,763,230		4,211,000,00
04/15/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO 6,000 DUE 02/01/35 FITM A1 REPO AGREEMENT		-9,419,606
04/15/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO 6,000 DUE 02/01/35 FITM A2 TERM REPO AGREEMENT		9,419,606	100,000,00
04/15/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO 6,000 DUE 02/01/35 FITM A2 TERM REPO AGREEMENT		9,419,606	1,955,000,00

027¶

04/30/05;11:24 001¶

EFTA00196180¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

29 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
04/15/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO 6,000 DUE 02/01/35 FITM TERM REPO AGREEMENT		9,419,606	2,013,000 ,00
04/15/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO 6,000 DUE 02/01/35 FITM B1 REPO AGREEMENT		-18,839,		3,665,000 ,00
04/15/05		INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO STRUP DUE 01/01/2033 0,000 FITM BZ REPO INTEREST			28,401,20
04/15/05		INTEREST	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 DUE 07/01/2034 5,000 FITM AZ REPO INTEREST			296,53
04/15/05		INTEREST	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO DUE 02/01/2035 6,000 FITM AZ REPO INTEREST			135,56
04/15/05		INTEREST	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO DUE 02/01/2035 6,000 FITM AZ REPO INTEREST			679,91
04/15/05		INTEREST	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO DUE 02/01/2035 6,000 FITM AZ REPO INTEREST			5,082,82

027¶

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EFTA00196181¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

30 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

ACCOUNT NUMBER¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

027¶

04/30/05;11:24 001¶

EFTA00196182¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

31 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
04/20/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 0,001 DUE 07/01/34 FITM REPO AGREEMENT		-20,311,170		14,660,000 .00
04/22/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS IO 5,000 DUE 12/11/34 FITM B1 REPO AGREEMENT		-8,251,045		1,837,000 .00
04/22/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10109 SERIES 227 CLASS IO 5,000 DUE 12/11/34 FITM A2 TERM REPO AGREEMENT		8,251,045	2,032,000 .00
04/22/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO 6,000 DUE 02/11/35 FITM A2 TERM REPO AGREEMENT		9,419,606
04/22/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO 6,000 DUE 02/11/35 FITM A1 REPO AGREEMENT		-6,593,724
04/22/05		JOURNAL	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS IO 6,000 DUE 02/11/35 FITM A1 REPO AGREEMENT		-2,825,881		528,000 .00
04/22/05		JOURNAL	UNITED STATES TREASURY NOTE FITM A1 4,000 DUE 02/15/15 REPO AGREEMENT		-50,000,000		49,062,500 .00
04/22/05		JOURNAL	UNITED STATES TREASURY NOTE FITM A2 4,000 DUE 02/15/15 TERM REPO AGREEMENT		60,000,000	59,100,000 .00

027¶

04/30/05;11:24 001¶

EFTA00196183¶

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

32 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

027¶

04/30/05;11:24 001¶

EFTA00196184¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

33 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

THROUGH April 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

027¶

04/30/05;11:24 001¶

EFTA00196185¶

BEAR STEARNS¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

34 of 37¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD April 1, 2005¶

REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued)¶

THROUGH April 29, 2005¶

ACCOUNT NUMBER¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
04/29/05		INTEREST	UNITED STATES TREASURY NOTE DUE 02/15/2015 4,000 FITM A2 REPO INTEREST			19,107.12
04/29/05		INTEREST	UNITED STATES TREASURY NOTE DUE 03/31/2007 3,750 FITM INTEREST				3,666.18
TOTAL						-$-542,459,166.81	$636,827,202.34

MISCELLANEOUS¶

MOIDAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
04/01/05	JOURNAL	TO CMDY A/C	301,525.00
04/07/05	JOURNAL	TO CMDY A/C	288,806.75
04/08/05	JOURNAL	FR CMDY A/C		61,362.50
04/11/05	JOURNAL	FR CMDY A/C		118,787.50
04/12/05	JOURNAL	FNMA 30YR(FNMA)GTD SETT, 04/05 6,000 DUE 04/01/35 MBS NET 04/12/05	290,625.00
04/13/05	JOURNAL	MAR 05 SPEC CLEARING FEES	9,150.00
04/13/05	JOURNAL	FNMA 30YR GTD SETT, 04/05 5,000 DUE 04/01/35 MBS NET 04/13/05		554,882.81
04/13/05	JOURNAL	FNMA 30YR GTD SETT, 04/05 5,500 DUE 04/01/35 MBS NET 04/13/05		228,125.00

027¶

04/30/05;11:24 001¶

EFTA00196186¶

BEAR STEARNS¶

35 of 37¶

Transaction Detail (continued)¶

MISCELLANEOUS (continued)¶

DATE MODAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
04/14/05	JOURNAL	TO CMDY A/C	319,187.50
04/14/05	DELIVERED	FITM FANNIE MAE STRIP POOL 0021445 COUPON 5,0000 FINANCING NET PAIROFF DIFF		700,000.00
04/14/05	RECEIVED	FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 5,000 DUE 07/01/34 DUE 07/01/2034 5,000 FITM FANNIE MAE STRIP POOL 0021445 COUPON 5,0000	700,000.00
04/15/05	JOURNAL	FNMA-15YR(FNMA-15)GTD SETT,04/05 4,500 DUE 04/01/20 MBS NET 04/15/05	125,000.00
04/18/05	JOURNAL	TO CMDY A/C	348,087.50
04/18/05	JOURNAL	FNMA-15YR(FNMA-15)GTD SETT,04/05 5,500 DUE 04/01/20 MBS NET 04/18/05		221,875.00
04/20/05	RECEIVED	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 0,001 DUE 07/01/34 DUE 07/01/2034 0,001 FITM FANNIE MAE STRIPS POOL 0021422 COUPON 0,0000	121,000.00

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

FINANCIAL TRUST CO INC¶

STATEMENT PERIOD April 1, 2005¶

THROUGH April 29, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

027¶

04/30/05;11:24 001¶

EFTA00196187¶

BEAR STEARNS¶

36 of 37¶

Transaction Detail (continued)¶

MISCELLANEOUS (continued)¶

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

DATE MO/DAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
04/20/05	DELIVERED	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 0,001 DUE 07/01/34 DUE 07/01/2034 0,001 FITM PG0021452191 FANNIE MAE STRIPS POOL 0021422 COUPON 0,0000		121,000.00
04/22/05	JOURNAL	REV ENTRY 2-9-05	30,973.04
04/22/05	JOURNAL	04 TREAS REBATE A/O 2-9		30,973.04
04/22/05	JOURNAL	FR CMDY A/C		146,575.00
04/27/05	JOURNAL	FR CMDY A/C		21,412.50
04/29/05	JOURNAL	TO CMDY A/C	270,062.50
TOTAL			-$2,804,417.29	$2,204,993.35

STATEMENT PERIOD April 1, 2005¶

FINANCIAL TRUST CO INC¶

Trades Executed Pending Settlement¶

THROUGH April 29, 2005¶

ACCOUNT NUMBER¶

| LAST STATEMENT | March 31, 2005 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
05/02/05	04/27/05	BOUGHT	GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-041 CLASS SE DUE 05/20/2030 REF # 2005042757160000 BS		15,073,792,00	7,1562	1,099,871,82
05/02/05	04/28/05	SOLD	UNITED STATES TREASURY NOTE DUE 04/30/2007 03,625% AO 30 YIELD 3,596 % TO MATURITY GVER REF # G1181006 A1		-50,000,000,00	100,0546		50,037,194,29

027¶

04/30/05;11:24 001¶

EFTA00196188¶

BEAR STEARNS¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

37 of 37¶

FINANCIAL TRUST CO INC¶

Trades Executed Pending Settlement (continued)¶

STATEMENT PERIOD April 1, 2005¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
05/12/05	03/31/05	BOUGHT	FNMA-30YR(FNMA)GTD SETT,05/04 DUE 05/01/2034 05,000% REF # 2005033157140000 BS		20,000,000 ,00	97,4921	19,498,437,50
05/12/05	04/12/05	BOUGHT	FNMA-30YR(FNMA)GTD SETT,05/04 DUE 05/01/2034 05,000% REF # 2005041257300000 BS		20,000,000 ,00	98,1328	19,626,562,50
05/12/05	04/07/05	SOLD	FNMA-30YR(FNMA)GTD SETT,05/04 DUE 05/01/2034 05,000% REF # 2005040757220000 BS		-40,000,000 ,00	97,9218		39,168,750,00
05/12/05	03/31/05	BOUGHT	FNMA-30YR(FNMA)GTD SETT,05/05 DUE 05/01/2035 05,500% REF # 2005033157150000 BS		20,000,000 ,00	99,8906	19,978,125,00
05/12/05	04/12/05	BOUGHT	FNMA-30YR(FNMA)GTD SETT,05/05 DUE 05/01/2035 05,500% REF # 2005041257400000 BS		20,000,000 ,00	100,3750	20,075,000,00
05/12/05	04/07/05	SOLD	FNMA-30YR(FNMA)GTD SETT,05/05 DUE 05/01/2035 05,500% REF # 2005040757210000 BS		-40,000,000 ,00	100,2578		40,103,125,00
TOTAL									$80,277,996.82	$129,309,069.29

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

027¶

04/30/05;11:24 001¶