EFTA00196327 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179

ACCOUNT EXECUTIVE	GNMA GOVT BOND
VISIT OUR WEBSITE	www.bearstearns.com

## What’s In This Statement Your Portfolio Holdings ... 4 Transaction Detail ... 5 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Trades Not Yet Settled ... 9

FINANCIAL TRUST CO INC

C/O JEFFREY EPSTEIN

6100 RED HOOK QUARTER

ST B3

ST THOMAS VI 00802

Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account. ## Your Portfolio at a Glance TAXPAYER NUMBER On File | LAST STATEMENT | August 30, 2002 | | :--- | :--- | FINANCIAL TRUST CO INC *This portfolio includes one or more unpriced securities that are not reflected in the Total Value of Securities and the Net Equity This Period.

TOTAL VALUE OF SECURITIES THIS PERIOD*	8,000,901
LONG ACCRUED INTEREST	231,905
NET CREDIT BALANCE	15,467
NET EQUITY THIS PERIOD	$8,248,273
NET EQUITY LAST STATEMENT	3,531,317
CHANGE SINCE LAST STATEMENT	4,716,957

ACCOUNT NUMBER STATEMENT PERIOD August 31, 2002 THROUGH September 27, 2002 Market Value of Your Portfolio 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 09/28/02:12:44 001 V636 EFTA00196328 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 2 of 9 Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC STATEMENT BACKER IS PRINTED ON THIS PAGE 027 EFTA00196329 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 3 of 9 Cash Flow Analysis

	THIS PERIOD
OpeningBalance	$116,152.92
Securities Sold	76,139,231.57
Dividends/Interest	893,355.55
Miscellaneous	518,584.04
Amount Credited	$77,551,171.16
Securities Bought	-76,128,187.98
Dividends/Interest Charged	-308,618.66
Miscellaneous	-1,215,050.00
Amount Debited	$-77,651,856.64
Net Cash Activity	-100,685.48
ClosingBalance	$15,467.44

Cash Balance Summary

	OPENING	CLOSING
Margin	116,152.92	15,467.44
Net Cash Balance	$116,152.92	$15,467.44

Income Summary

	THIS PERIOD	YEAR TO DATE
Govt. Agency Int.	604,811.55	685,190.72
Credit Balance Int.	119.34	167.52
Total	$604,930.89	$685,358.24
Bond Purchase Int.	-20,194.00	-314,245.45

Portfolio Composition

Cash/Cash Equivalent	15,467
Fixed Income	8,000,901
Total	$8,016,368

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brocklyn, New York 11201-3859 FINANCIAL TRUST CO INC | STATEMENT PERIOD | August 31, 2002 | | :--- | :--- | | THROUGH | September 27, 2002 | ACCOUNT NUMBER Your Portfolio Allocation TAXPAYER NUMBER On File | LAST STATEMENT | August 30, 2002 | | :--- | :--- | Unshaded portions denote debit balance and/or short market values. The allocation percentage is derived from the absolute market value of your portfolio. EFTA00196330 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 4 of 9 Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC ## Your Portfolio Holdings ## CASH & CASH EQUIVALENTS STATEMENT PERIOD August 31, 2002 THROUGH September 27, 2002 AGCOUNT NUMBER

DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CASH BALANCE				15,467
TOTAL CASH & CASH EQUIVALENTS				$15,467

DESCRIPTION	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ACCRUED INTEREST	ESTIMATED ANNUAL INCOME	CURPENT YIELD (%)
FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT	MRGN	94,797,671	2.9713	2,816,686	31,598	947,977	33.6558
FEDERAL HOME LOAN MTG CORP SERIES 2488 CLASS SQ	MRGN	49,469,275	Unpriced		101,840	3,055,222
FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL	MRGN	57,072,635	9.0835	5,184,215	98,467	2,954,080	56.9822
Total Government& Agency Obligations				$8,000,901	$231,905	$6,957,279
TOTAL FIXED INCOME				$8,000,901	$231,905	$6,957,279

027 09/28/02;12:44 001 EFTA00196331 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 5 of 9 Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST CO INC ## Your Portfolio Holdings (continued)

YOUR TOTAL ACCRUED INTEREST	$231,905
YOUR TOTAL ESTIMATED ANNUAL INCOME	$6,957,279
YOUR PRICED PORTFOLIOHOLDINGS	$8,016,368

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
09/13/02	07/19/02	BOUGHT	FNMA-30YR(FNMA) GTD SETT.09/02 DUE 09/01/2032 06,000% REF #	25,000,000	100.29688	25,074,218.75
09/13/02	07/19/02	CANCEL BUY	FNMA-30YR(FNMA) GTD SETT.09/02 DUE 09/01/2032 06,000% REF #	-25,000,000	100.29688		25,074,218.75
			AS OF 07/19/02 TO CXL PREVIOUS BUY

027 09/28/02;12:44 001 EFTA00196332 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 6 of 9 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD August 31, 2002 ## INVESTMENT ACTIVITY (continued) THROUGH September 27, 2002 TAXPAYER NUMBER On File | LAST STATEMENT | August 30, 2002 | | :--- | :--- |

DEMENTMENT DATE	DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	PRICE	DEBIT AMOUNT
09/16/02	07/19/02	BOUGHT	FNMA-30YR(FNMA) GTD SETT,09/02 DUE 09/01/2032 06,000% REF # AS OF 07/19/02	25,000,000	100.29688	25,074,218.75
09/16/02	09/04/02	CANCEL SELL	FNMA-30YR(FNMA) GTD SETT,09/02 DUE 09/01/2032 06,000% REF # AS OF 09/04/02 TO CXL PREVIOUS SELL	25,000,000	102.34766	25,586,914.07
09/16/02	07/19/02	CANCEL BUY	FNMA-30YR(FNMA) GTD SETT,09/02 DUE 09/01/2032 06,000% REF # AS OF 07/19/02 TO CXL PREVIOUS BUY	-25,000,000	100.29688		25,074,218.75
09/16/02	09/04/02	SOLD	FNMA-30YR(FNMA) GTD SETT,09/02 DUE 09/01/2032 06,000% REF # BS	-25,000,000	102.34766		25,586,914.07
09/16/02		PRINCIPAL	FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 09-15-02	-1,017,000
09/16/02		PRINCIPAL	FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 09-15-02	-22
09/16/02		PRINCIPAL	FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL 5,161 DUE 03/15/32 PRINCIPAL REDUCTN 09-15-02	-612,297

| 09/28/02;12:44 | 001 | V636 | | :--- | :--- | :--- | EFTA00196333 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 7 of 9 FINANCIAL TRUST CO INC STATEMENT PERIOD August 31, 2002 ## **Transaction Detail** (continued) ## INVESTMENT ACTIVITY (continued) THROUGH September 27, 2002 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | August 30, 2002 | | :--- | :--- |

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUN
09/16/02		PRINCIPAL	FEDERAL HOME LOAN MTG CORP SERIES 2488 CLASS SQ 6,160 DUE 03/15/32 PRINCIPAL REDUCTN 09-15-02	-530,725
09/25/02	09/20/02	BOUGHT	FEDERAL HOME LOAN MTG CORP SERIES 2466 CLASS EI DUE 05/15/2017 06,000% REF # ACCRUES ON 1ST, PAYS ON 15TH	5,048,500 ACCR. INT.	7.78125	392,836.41 20,194.00
09/25/02	09/20/02	SOLD	FEDERAL HOME LOAN MTG CORP SERIES 2466 CLASS EI DUE 05/15/2017 06,000% REF # ACCRUES ON 1ST, PAYS ON 15TH	-5,048,500	8.00000 ACCR. INT.		403,880.00 20,194.00

INTEREST

DATE	DESCRIPTION	RATE (%)	CREDIT AMOUNT
09/03/02	AVG BAL 112,761RT 1.088 021 OFFICE INTEREST 0802		119.34
09/16/02	FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT DUE 03/15/2032 1,000 INTEREST PAYMENT 09-15-02	1.0000	79,845.58
09/16/02	FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL DUE 03/15/2032 5,161 INTEREST PAYMENT 09-15-02	5.1610	288,424.66
09/16/02	FEDERAL HOME LOAN MTG CORP SERIES 2488 CLASS SO DUE 03/15/2032 6,160 INTEREST PAYMENT 09-15-02	6.1600	256,666.67

027 09/28/02;12:44 001 EFTA00196334 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 8 of 9 FINANCIAL TRUST CO INC ## **Transaction Detail** (continued) STATEMENT PERIOD August 31, 2002 INTEREST (continued) THROUGH September 27, 2002 ACCOUNT NUMBER

DATE	DESCRIPTION	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
09/17/02	FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL DUE 03/15/2032 5.176 REV INT @ 6% PAY @ 5,16125	5.1760	288,424.66
09/17/02	FEDERAL HOME LOAN MTG CORP SERIES 2483 CL SL DUE 03/15/2032 5.176 REV INT @ 6% PAY @ 5,16125	5.1760		248,105.30
TOTAL			-288,424.66	$873,161.55

MO/DAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
09/05/02	JOURNAL	FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 P&I TRANSFER		2,954.17
09/11/02	JOURNAL	FITM TO FITG	25,000.00
09/12/02	JOURNAL	AUG 02 CLEAR FEES	50.00
09/16/02	JOURNAL	FNMA-30YR(FNMA) GTD SETT,09/02 6,000 DUE 09/01/32 MBS NET 09/16/02		512,695.31
09/17/02	JOURNAL	FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT 1,000 DUE 03/15/32 P&I TRNFR		2,934.56
09/18/02	RECEIVED	ADP CD DUE 12/31/2049 8,625 8,625 DUE 12/31/49 FITM-PR_F2613178011	1,190,000.00
TOTAL			-$1,215,050.00	$518,584.04

027 09/28/02;12:44 001 EFTA00196335 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 9 of 9 FINANCIAL TRUST CO INC ## Trades Executed Pending Settlement

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION		QUANTITY	PRICE	DEBIT AMOUNT
10/15/02	09/04/02	BOUGHT	FNMA-30YR(FNMA) GTD SETT,10/02 DUE 10/01/2032 06,000%		25,000,000.00	101.9375	25,484,375.00
			REF #	BS
TOTAL							$25,484,375.00

The above trades do not appear in any other section of this statement. ******* End of Statement****** 027 09/28/02;12:44 001