Bear Stearns brokerage statement for Financial Trust Co Inc, March 2005

EFTA00196189¶

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

6

Trades Not Yet Settled 35¶

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 SUBSDIARY¶

TOTAL VALUE OF SECURITIES THIS PERIOD	3,335,615
LONG ACCRUED INTEREST	57,993
NET CREDIT BALANCE	77,668
NET EQUITY THIS PERIOD	$3,471,276
NET EQUITY LAST STATEMENT	1,517,425
CHANGE SINCE LAST STATEMENT	1,953,851

| LAST STATEMENT | February 28, 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¶

THROUGH March 31, 2005¶

STATEMENT PERIOD March 1, 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.¶

027 04/01/05:09:49 001¶

V876¶

EFTA00196190¶

2 of 40¶

STATEMENT BACKER IS PRINTED ON THIS PAGE¶

027¶

EFTA00196191¶

3 of 40¶

Cash Flow Analysis¶

	THIS PERIOD
OpeningBalance	$336,827.64
Securities Sold	956,588,364.34
Dividends/Interest	992,974.47
Miscellaneous	2,751,164.59
Amount Credited	$960,332,503.40
Securities Bought	-955,829,656.15
Dividends/Interest Charged	-1,309,848.42
Miscellaneous	-3,452,158.93
Amount Debited	$-960,591,663.50
Net Cash Activity	-259,160.10
Closing Balance	$77,667.54

Cash Balance Summary¶

	OPENING	CLOSING
Margin	336,827.64	77,667.54
Net Cash Balance	$336,827.64	$77,667.54

Income Summary¶

	THIS PERIOD	YEAR TO DATE
U.S.Govt.Bond Int.	178,611.89	2,510,456.45
Govt.Agency Int.	693,096.31	2,022,336.00
Corp.Bond Int.	120,062.77	375,012.07
Credit Balance Int.	1,203.50	1,960.00
Reverse Repurchase Int.	323,157.29	826,531.30
Total	$1,316,131.76	$5,736,295.82
Bond Purchase Int.	-1,309,848.42	-3,500,285.37
Repurchase Int. Exp.	-177,727.19	-400,692.42

Portfolio Composition¶

Cash/Cash Equivalent	77,668
Fixed Income	3,335,615
Total	$3,413,283

STATEMENT PERIOD March 1, 2005¶

FINANCIAL TRUST CO INC¶

THROUGH March 31, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | February 28, 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.¶

V876¶

EFTA00196192¶

BEAR STEARNS¶

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

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

4 of 40¶

FINANCIAL TRUST CO INC¶

Your Portfolio Holdings¶

CASH & CASH EQUIVALENTS¶

STATEMENT PERIOD March 1, 2005¶

THROUGH March 31, 2005¶

DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CASH BALANCE				77,668
TOTAL CASH & CASH EQUIVALENTS				$77,668

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | February 28, 2005 |¶

| :--- | :--- |¶

FIXED INCOME¶

Government & Agency Obligations¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ACCRUED INTEREST	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
FEDERAL NATIONAL MTG ASSN		MRGN	13,326,665	8.3078	1,107,158	9,217	553,057	49.9529
SERIES 2003-49 CLASS SW DATED DATE 04/30/03 BOOK ENTRY ONLY DUE 01/25/2033 4,150% FACTOR = .54826993
FEDL HOME LOAN MTG CORP#S10110		MRGN	9,755,215	22.8438	2,228,457	48,776	585,313	26.2654
SERIES 228 CLASS IO DATED DATE 02/01/05 BOOK ENTRY ONLY DUE 02/01/2035 6,000% FACTOR = .97552156
Total Government& Agency Obligations					$3,335,615	$57,993	$1,138,370
TOTAL FIXED INCOME					$3,335,615	$57,993	$1,138,370

YOUR PORTFOLIOHOLDINGSACCRUED INTEREST	$57,993
YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME	$1,138,370
YOUR PRICED PORTFOLIOHOLDINGS	$3,413,283

027¶

04/01/05;09:49 001¶

EFTA00196193¶

5 of 40¶

FINANCIAL TRUST CO INC¶

Repurchase and Reverse Repurchase Transactions¶

STATEMENT PERIOD March 1, 2005¶

THROUGH March 31, 2005¶

| LAST STATEMENT | February 28, 2005 |¶

| :--- | :--- |¶

027	04/01/05;09:49	001	V876

EFTA00196194¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

6 of 40¶

FINANCIAL TRUST CO INC¶

Repurchase and Reverse Repurchase Transactions (continued)¶

STATEMENT PERIOD March 1, 2005¶

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

THROUGH March 31, 2005¶

| LAST STATEMENT | February 28, 2005 |¶

| :--- | :--- |¶

	PURCHASE/ START DATE	REPURCHASE DATE	PRICING RATE	PURCHASE PRICE/ PRINCIPAL	ACCRUED REPO INTEREST*	QUANTITY (FACE AMOUNT)	CUSIP	DESCRIPTION
YOU PROVIDED (MARGIN)	03/28/05	OPEN	0.000			-910,000		FANNIEMAE STRIP SERIES 346 CLASS PO 11/01/33
YOU PROVIDED (MARGIN)	03/29/05	OPEN	0.000			-4,300,000		GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-5 CLASS P 4.1000 02/20/33
YOU SOLD (REPO)	03/30/05	04/15/05	3.050	-4,429,000	-750	-20,000,000		FANNIE MAE STRIP SERIES 353 CLASS IO 5.0000 07/01/34
YOU SOLD (REPO)	03/30/05	04/15/05	3.050	-100,000	-16	-10,000,000		FREDDIEMAC STRIP SERIES 228 CLASS IO 6.0000 02/01/35
YOU BOUGHT (REVERSE)	03/21/05	OPEN	2.380	49,875,000	37,752	50,000,000		USTR 3.0000 12/31/06
TOTAL REVERSE REPURCHASE TRANSACTIONS				$49,875,000	$37,752
TOTAL REPURCHASE TRANSACTIONS				$-68,751,000	$-131,704

As of statement date¶

Transaction Detail¶

INVESTMENT ACTIVITY¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
03/01/05	02/28/05	SOLD	UNITED STATES TREASURY BONDS DUE 02/15/2031 05,375% FA 15 YIELD 4,721 % TO MATURITY GVER REF # G0591007 A1		-3,000,000	109.72266		3,291,679.69
						ACCR. INT.		6,236.19

027¶

04/01/05;09:49 001¶

EFTA00196195¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶

7 of 40¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD March 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH March 31, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | February 28, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
03/01/05		JOURNAL	FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 DUE 11/01/33		-1
03/02/05	03/01/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 02/15/2015 04,000% FA 15 YIELD 4,385 % TO MATURITY GVER REF # 00601000 A1		10,000,000 ACCR. INT.	96.92188	9,692,187.50 16,574.59
03/02/05	03/01/05	SOLD	UNITED STATES TREASURY NOTE DUE 02/15/2015 04,000% FA 15 Yield 4,389 % TO MATURITY GVER REF # 00601005 A1		-10,000,000	96.89063 ACCR. INT.		9,689,062.50 16,574.59
03/04/05	03/03/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 02/15/2015 04,000% FA 15 Yield 4,381 % TO MATURITY GVER REF # 00621002 A1		10,000,000 ACCR. INT.	96.95313	9,695,312.50 18,784.53
03/07/05	03/04/05	SOLD	UNITED STATES TREASURY NOTE DUE 02/15/2015 04,000% FA 15 Yield 4,380 % TO MATURITY GVER REF # 00631009 A1		-5,000,000	97.11719 ACCR. INT.		4,855,859.38 11,049.72
03/09/05	03/08/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 02/15/2015 04,000% FA 15 Yield 4,381 % TO MATURITY GVER REF # 00671033 A1		10,000,000 ACCR. INT.	96.95313	9,695,312.50 24,309.39
03/09/05	03/08/05	SOLD	UNITED STATES TREASURY NOTE DUE 02/15/2015 04,000% FA 15 Yield 4,379 % TO MATURITY GVER REF # 00671016 A1		-5,000,000	96.96875 ACCR. INT.		4,848,437.50 12,154.70

04/01/05;09:49 001¶

027¶

EFTA00196196¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

8 of 40¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD March 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH March 31, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | February 28, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
03/14/05	03/03/05	CANCEL SELL	FNMA 30YR.GTD SETT, 03/05 DUE 03/01/2035 05,500% REF # 2005030357590000 BS AS OF 03/03/05 TO CXL PREVIOUS SELL		10,000,000	100.81641	10,081,640.63
03/14/05	03/04/05	BOUGHT	FNMA 30YR.GTD SETT, 03/05 DUE 03/01/2035 05,500% REF # 2005030457110000 BS		10,000,000	101.06250	10,106,250.00
03/14/05	02/03/05	CANCEL SELL	FNMA 30YR.GTD SETT, 03/05 DUE 03/01/2035 05,500% REF # 2005020357710000 BS AS OF 02/03/05 TO CXL PREVIOUS SELL		10,000,000	101.51563	10,151,562.50
03/14/05	02/10/05	CANCEL SELL	FNMA 30YR.GTD SETT, 03/05 DUE 03/01/2035 05,500% REF # 2005020157610000 BS AS OF 02/10/05 TO CXL PREVIOUS SELL		10,000,000	101.67188	10,167,187.50
03/14/05	03/01/05	CANCEL SELL	FNMA 30YR.GTD SETT, 03/05 DUE 03/01/2035 05,500% REF # 2005020157140000 BS AS OF 03/01/05 TO CXL PREVIOUS SELL		15,000,000	100.68750	15,103,125.00
03/14/05	02/17/05	BOUGHT	FNMA 30YR.GTD SETT, 03/05 DUE 03/01/2035 05,500% REF # 2005021757360000 BS		15,000,000	101.55859	15,233,789.06

027¶

04/01/05;09:49 001¶

EFTA00196197¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

9 of 40¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

INVESTMENT ACTIVITY (continued)¶

STATEMENT PERIOD March 1, 2005¶

THROUGH March 31, 2005¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | February 28, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CURSEP	QUANTITY	PRICE	DEBT AMOUNT	CREDIT AMOUNT
03/14/05	02/09/05	BOUGHT	FNMA 30YR.GTD SETT, 03/05 DUE 03/01/2035 05,500% REF # 200502035731000 BS		20,000,000	101.82422	20,364,843.75
03/14/05	03/03/05	SOLD	FNMA 30YR.GTD SETT, 03/05 DUE 03/01/2035 05,500% REF # 2005030357590000 BS		-10,000,000	100.81641		10,081,640.63
03/14/05	03/04/05	CANCEL BUY	FNMA 30YR.GTD SETT, 03/05 DUE 03/01/2035 05,500% REF # 2005030457110000 BS AS OF 03/04/05 TO OIL PREVIOUS BUY		-10,000,000	101.06250		10,106,250.00
03/14/05	02/03/05	SOLD	FNMA 30YR.GTD SETT, 03/05 DUE 03/01/2035 05,500% REF # 2005020357710000 BS		-10,000,000	101.51563		10,151,562.50
03/14/05	02/10/05	SOLD	FNMA 30YR.GTD SETT, 03/05 DUE 03/01/2035 05,500% REF # 2005021057610000 BS		-10,000,000	101.67188		10,167,187.50
03/14/05	03/01/05	SOLD	FNMA 30YR.GTD SETT, 03/05 DUE 03/01/2035 05,500% REF # 2005030157140000 BS		-15,000,000	100.68750		15,103,125.00
03/14/05	02/17/05	CANCEL BUY	FNMA 30YR.GTD SETT, 03/05 DUE 03/01/2035 05,500% REF # 2005021157360000 BS AS OF 02/17/05 TO OIL PREVIOUS BUY		-15,000,000	101.55859		15,233,789.06

027¶

04/01/05;09:49 001¶

EFTA00196198¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

10 of 40¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

INVESTMENT ACTIVITY (continued)¶

STATEMENT PERIOD March 1, 2005¶

THROUGH March 31, 2005¶

| LAST STATEMENT | February 28, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
03/14/05	02/09/05	CANCEL BUY	FNMA 30YR.GTD SETT,03/05 DUF 03/01/2035 05,500% REF # 2005020357310000 BS AS OF 02/09/05 TO CXL PREVIOUS BUY		-20,000,000	101.82422		20,364,843.75
03/14/05	03/01/05	CANCEL SELL	FNMA-30YR(FNMA)GTD SETT,03/05 DUF 03/01/2035 05,000% REF # 2005030157060000 BS AS OF 03/01/05 TO CXL PREVIOUS SELL		10,000,000	98.35156	9,835,156.25
03/14/05	03/03/05	CANCEL SELL	FNMA-30YR(FNMA)GTD SETT,03/05 DUF 03/01/2035 05,000% REF # 2005030157650000 BS AS OF 03/01/05 TO CXL PREVIOUS SELL		10,000,000	98.53516	9,853,515.63
03/14/05	03/04/05	BOUGHT	FNMA-30YR(FNMA)GTD SETT,03/05 DUF 03/01/2035 05,000% REF # 2005030457120000 BS		10,000,000	98.77734	9,877,734.38
03/14/05	02/03/05	BOUGHT	FNMA-30YR(FNMA)GTD SETT,03/05 DUF 03/01/2035 05,000% REF # 2005020357750000 BS		10,000,000	99.43750	9,943,750.00
03/14/05	02/17/05	BOUGHT	FNMA-30YR(FNMA)GTD SETT,03/05 DUF 03/01/2035 05,000% REF # 2005021757300000 BS		10,000,000	99.54297	9,954,296.88

027¶

04/01/05;09:49 001¶

EFTA00196199¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

11 of 40¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD March 1, 2005¶

INVESTMENT ACTIVITY (continued)¶

THROUGH March 31, 2005¶

ACCOUNT NUMBER¶

| LAST STATEMENT | February 28, 2005 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION		SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
03/14/05	02/10/05	CANCEL SELL	FNMA-30YR(FNMA)GTD SETT,03/05 DUE 03/01/2035 05,000% REF # 2005020157670000 BS AS OF 02/10/05 TO CXL PREVIOUS SELL		10,000,000	99.73828	9,973,828.13
03/14/05	03/01/05	SOLD	FNMA-30YR(FNMA)GTD SETT,03/05 DUE 03/01/2035 05,000% REF # 2005020157060000 BS		-10,000,000	98.35156		9,835,156.25
03/14/05	03/03/05	SOLD	FNMA-30YR(FNMA)GTD SETT,03/05 DUE 03/01/2035 05,000% REF # 2005030157650000 BS		-10,000,000	98.53516		9,853,515.63
03/14/05	03/04/05	CANCEL BUY	FNMA-30YR(FNMA)GTD SETT,03/05 DUE 03/01/2035 05,000% REF # 2005030157120000 BS AS OF 03/04/05 TO CXL PREVIOUS BUY		-10,000,000	98.77734		9,877,734.38
03/14/05	02/03/05	CANCEL BUY	FNMA-30YR(FNMA)GTD SETT,03/05 DUE 03/01/2035 05,000% REF # 2005020157750000 BS AS OF 02/03/05 TO CXL PREVIOUS BUY		-10,000,000	99.43750		9,943,750.00
03/14/05	02/17/05	CANCEL BUY	FNMA-30YR(FNMA)GTD SETT,03/05 DUE 03/01/2035 05,000% REF # 2005021157300000 BS AS OF 02/17/05 TO CXL PREVIOUS BUY		-10,000,000	99.54297		9,954,296.88

027¶

04/01/05;09:49 001¶

EFTA00196200¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

12 of 40¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

INVESTMENT ACTIVITY (continued)¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
03/14/05	02/10/05	SOLD	FNMA-30YR(FNMA)GTD SETT,03/05 DUE 03.01/2035,05,000% REF # 2005021057670000 BS		-10,000,000	99.73828		9,973,828.13
03/14/05	02/03/05	BOUGHT	FNMA 30YR(FNMA) GTD SETT,03/05 DUE 03.01/2035,06,000% REF # 2005020357790000 BS		20,000,000	103.01563	20,603,125.00
03/14/05	02/09/05	CANCEL SELL	FNMA 30YR(FNMA) GTD SETT,03/05 DUE 03.01/2035,06,000% REF # 2005020357340000 BS AS OF 02/09/05 TO CXL PREVIOUS SELL		20,000,000	103.18750	20,637,500.00
03/14/05	02/03/05	CANCEL BUY	FNMA 30YR(FNMA) GTD SETT,03/05 DUE 03.01/2035,06,000% REF # 2005020357730000 BS AS OF 02/03/05 TO CXL PREVIOUS BUY		-20,000,000	103.01563		20,603,125.00
03/14/05	02/09/05	SOLD	FNMA 30YR(FNMA) GTD SETT,03/05 DUE 03.01/2035,06,000% REF # 2005020357340000 BS		-20,000,000	103.18750		20,637,500.00
03/14/05	03/11/05	SOLD	FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 DUE 07.01/2034,00,001% REF # 200501157110000 BS		-4,978,135	76.45313		3,805,940.34
03/14/05	03/11/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 01.03/2002,03,125% JJ 31 WEB # 52,088 % TO MATURE OVER REF # 00701010 A1		8,000,000 ACCR. INT.	98.94531	7,915,625.00	29,005.52

027¶

04/01/05;09:49 001¶

EFTA00196201¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

13 of 40¶

FINANCIAL TRUST CO INC¶

Transaction Detail (continued)¶

INVESTMENT ACTIVITY (continued)¶

STATEMENT PERIOD March 1, 2005¶

THROUGH March 31, 2005¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | February 28, 2005 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	PRICE	DEBT AMOUNT	CREDIT AMOUNT
03/15/05	03/14/05	BOUGHT	UNITED STATES TREASURY NOTE DUE 12312006, 03,000% JD 30 FIELD: STATUS TO MATURE GVER REF # G0731012 A1		25,000,000 ACCR. INT.	98.80078	24,700,195.31 153,314.92
03/16/05	03/14/05	SOLD	FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS P0 STRIP DUE 01/01/2033 REF # 2005031457300000 BS		-7,882,556	77.21875		6,086,811.75
03/16/05	03/14/05	BOUGHT	FEDL HOME LOAN MTG CORP#S10110 SERIES 228 CLASS 10 DUE 02012006, 06,000% REF # 2005031457200000 BS AS OF 03/14/05 ACCRUES ON 1ST, PAYS ON 25TH		9,755,215 ACCR. INT.	22.78125	2,222,360.05 24,388.04
03/16/05	03/15/05	SOLD	UNITED STATES TREASURY NOTE DUE 02112005, 04,000% FA 15 FIELD: STATUS TO MATURE GVER REF # G0741007 A1		-10,000,000	95.67188 ACCR. INT.		9,567,187.50 32,044.20
03/18/05	03/16/05	SOLD	FEDERAL NATIONAL MTG ASSN SERIE This document was truncated for web display. See the linked source PDF for the complete record. ¶