EFTA00196400



BEAR
STEARNS




CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY



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| :--- | :--- |

| ACCOUNT EXECUTIVE | GNMA GOVT BOND |

| VISIT OUR WEBSITE | www.bearstearns.com |





FINANCIAL TRUST CO INC

ATTN LIZ LYNETT



FINANCIAL TRUST CO INC

C/O OFFICE

STATEMENT PERIOD July 27, 2002

## Repurchase and Reverse Repurchase Transactions with Bear, Stearns& Co.Inc.outstanding as of date of statement

TAXPAYER NUMBER On File

LAST STATEMENT

<table><thead><tr><th></th><th>PURCHASE/ START DATE</th><th>REPURCHASE DATE</th><th>PRICING RATE</th><th>PURCHASE PRICE/ PRINCIPAL</th><th>ACCRUED REPO INTEREST*</th><th>QUANTITY (FACE AMOUNT)</th><th>CUSIP</th><th>DESCRIPTION</th></tr></thead><tbody><tr><td colspan="9">YOU PROVIDED</td></tr><tr><td>(MARGIN)</td><td>08/12/02</td><td>OPEN</td><td>0.000</td><td>0</td><td>0</td><td>-3,545,000</td><td></td><td>FEDERAL HOME LOAN MTG CORP</td></tr><tr><td colspan="4">TOTAL REVERSE REPURCHASE TRANSACTIONS</td><td>$0</td><td>$0</td><td></td><td></td><td>SERIES 2471 CLASS YT 1.0000 03/15/32</td></tr><tr><td colspan="4">TOTAL REPURCHASE TRANSACTIONS</td><td>$0</td><td>$0</td><td></td><td></td><td></td></tr></tbody></table>

*As of statement date*

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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