EFTA00196424



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | GNMA GOVT BOND |

| VISIT OUR WEBSITE | www.bearstearns.com |

## What’s In This Statement

Financial Summary 1

Bear, Steams Securities Corp.

One Metrotech Center North Brooklyn, New York 11201-3859

## FINANCIAL TRUST CO INC

ATT F.I. CLEARING SERVICES

1 METROTECH CENTER N

C/O OFFICE

## Income Summary

FINANCIAL TRUST CO INC

STATEMENT PERIOD October 1, 2003

THROUGH October 31, 2003

<table><thead><tr><th></th><th>THIS PERIOD</th><th>YEAR TO DATE</th></tr></thead><tbody><tr><td>Govt. Agency Int.</td><td>0.00</td><td>102,332.50</td></tr><tr><td>Total</td><td>$0.00</td><td>$102,332.50</td></tr></tbody></table>



ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | September 30, 2003 |

| :--- | :--- |

## Repurchase and Reverse Repurchase Transactions

with Bear, Stearnsand Co. Inc. outstanding as of date of 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>YOU PROVIDED (MARGIN)</td><td>10/23/03</td><td>OPEN</td><td>0.000</td><td></td><td></td><td>-8,345,000</td><td></td><td>FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS SE 6.2800 02/15/32</td></tr><tr><td colspan="4">TOTAL REVERSE REPURCHASE TRANSACTIONS</td><td>$0</td><td>$0</td><td></td><td></td><td></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*

| 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 | 11/01/03:13:39 001 |

V818

EFTA00196425



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY




2 of 2


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

EFTA00196426



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | GNMA GOVT BOND |

| VISIT OUR WEBSITE | www.bearstearns.com |

## What’s In This Statement

Financial Summary 1



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859





FINANCIAL TRUST CO INC

ATTN LIZ LYNETT

1 METROTECH CTR NR 7TH FL

C/O OFFICE



## Income Summary

FINANCIAL TRUST CO INC

STATEMENT PERIOD August 30, 2003

THROUGH September 30, 2003



ACCOUNT NUMBER



<table><thead><tr><th></th><th>THIS PERIOD</th><th>YEAR TO DATE</th></tr></thead><tbody><tr><td>Govt. Agency Int.</td><td>0.00</td><td>102,332.50</td></tr><tr><td>Total</td><td>$0.00</td><td>$102,332.50</td></tr></tbody></table>

TAXPAYER NUMBER On File

| LAST STATEMENT | August 29, 2003 |

| :--- | :--- |

## Repurchase and Reverse Repurchase Transactions

with Bear, Stearnsand Co. Inc. outstanding as of date of statement

Important Message

Bear Stearns is pleased to announce our conversion to a calendar month-end statement. Effective this month, your account statement reflects all activity and account valuation up to and including the last business day of the month.

<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>YOU PROVIDED (MARGIN)</td><td>08/04/03</td><td>OPEN</td><td>0.000</td><td></td><td></td><td>-60,000,000</td><td></td><td>FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS SE 6.2800 02/15/32</td></tr><tr><td colspan="4">TOTAL REVERSE REPURCHASE TRANSACTIONS</td><td>$0</td><td>$0</td><td></td><td></td><td></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*

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 10/01/03:10:54 001

V813

EFTA00196427



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY




2 of 2


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