Bear Stearns brokerage statement for a St. Thomas investment company, December 2001

Statements¶

EFTA00196477¶

OFFICE SERVICING YOUR ACCOUNT¶

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

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSIDIARY¶

| | |¶

| :--- | :--- |¶

| ACCOUNT EXECUTIVE | ZICHERMAN, IRA |¶

| TELEPHONE | |¶

| VISIT OUR WEBSITE | www.bearstearns.com |¶

Financial Summary	3
Your Portfolio Holdings	4
Transaction Detail	5
Fund Activity	7
Your Messages	9

What’s In This Statement¶

FINANCIAL TRUST COMPANY INC

C/O AMERICAN YACHT HARBOR *

6100 RED HOOK SUITE B-3

QUARTERS #2

ST THOMAS VI 00802

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

FINANCIAL TRUST COMPANY INC¶

ACCOUNT NUMBER¶

THROUGH December 31, 2001¶

STATEMENT PERIOD December 1, 2001¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | November 30, 2001 |¶

| :--- | :--- |¶

Your Portfolio at a Glance¶

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

TOTAL VALUE OF SECURITIES THIS PERIOD	29,406,395
NET CREDIT BALANCE	11,290
MONEY MARKET FUND BALANCE	37,523,003
NET EQUITY THIS PERIOD	$66,940,688
NET EQUITY LAST STATEMENT	89,939,338
CHANGE SINCE LAST STATEMENT	-22,998,650

Market Value of Your Portfolio¶

Important Message¶

If any information regarding 2001 interest, dividends, miscellaneous income, gross proceeds or original issue discount is required to be reported to the IRS for this account, a Consolidated Form 1099 will be mailed to you by January 31, 2002 or 1042S by March 15, 2002.¶

Please report any difference or non-receipt of checks or stocks, indicated as delivered to you, to Client Services at 800-634-1428; or write to Client Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3859.¶

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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V519¶

EFTA00196478¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶

2 of 9¶

Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859¶

FINANCIAL TRUST COMPANY INC¶

STATEMENT BACKER IS PRINTED ON THIS PAGE¶

027¶

EFTA00196479¶

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	$3,002,139.76
Securities Sold	22,427,836.16
Money Fund	4,047,863.33
Dividends/Interest	151,829.43
Miscellaneous	13,518,953.25
Amount Credited	$40,146,482.17
Securities Bought	-18,289,468.42
Money Fund	-17,847,863.33
Funds Withdrawn	-6,000,000.00
Miscellaneous	-1,000,000.00
Amount Debited	$-43,137,331.75
Net Cash Activity	-2,990,849.58
Closing Balance	$11,290.18

Cash Balance Summary¶

	OPENING	CLOSING
Cash	3,002,139.76	11,290.18
Net Cash Balance	$3,002,139.76	$11,290.18

Income Summary¶

	THIS PERIOD	YEAR TO DATE
Dividends	197,580.93	1,286,480.16
Substitute Payment	0.00	76,725.66
Credit Balance Int.	2,111.83	38,425.74
Total	$199,692.76	$1,401,631.56
Foreign Tax Withheld	0.00	-150.00
Margin Int. Paid	0.00	-48,516.34

Portfolio Composition¶

	SHORT	LONG
Cash/Cash Equivalent		37,534,293
Equities	1,120,000	30,526,395
Total	$1,120,000	$68,060,688

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

FINANCIAL TRUST COMPANY INC¶

STATEMENT PERIOD	December 1, 2001
THROUGH	December 31, 2001
ACCOUNT NUMBER
TAXPAYER NUMBER	On File
LAST STATEMENT	November 30, 2001

Your Portfolio Allocation¶

EFTA00196480¶

BEAR STEARNS¶

OFFICE SERVICING YOUR ACCOUNT¶

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

4 of 9¶

Your Portfolio Holdings¶

CASH & CASH EQUIVALENTS¶

DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CASH BALANCE				11,290
DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 2,1000%	DICCX	37,523,003.02	1.0000	37,523,003	863,029	2.3000
TOTAL CASH & CASH EQUIVALENTS				$37,534,293	$863,029

EQUITIES¶

Equities & Options¶

DESCRIPTION		SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CNH GLOBAL		CNH	CASH	250,000	6.0900	1,522,500	138,000	9.0640
TOO INC		TOO	CASH	550,000	27.5000	15,125,000
CALL TOO INC EXP 01/19/2002	JAN 025 CBOE	TOOAE	CASH	-3,000	2.6500	-795,000
CALL TOO INC EXP 02/16/2002	FEB 025 CBOE	TOOBE	CASH	-500	3.3000	-165,000
CALL TOO INC EXP 02/16/2002	FEB 030 CBOE	TOOBF	CASH	-2,000	0.8000	-160,000
VECTOR GROUP LTD		VGR	CASH	374,294	32.8500	12,295,558	598,870	4.8706
SENTIGEN HOLDING CP RSTD Total Equities& Options			CASH	333,334	4.7500	1,583,337
TOTAL EQUITIES						$29,406,395	$736,870

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

FINANCIAL TRUST COMPANY INC¶

STATEMENT PERIOD December 1, 2001¶

THROUGH December 31, 2001¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | November 30, 2001 |¶

| :--- | :--- |¶

027¶

01/03/02;08:34 001¶

EFTA00196481¶

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 Meterotech Center North Brooklyn, New York 11201-3859¶

FINANCIAL TRUST COMPANY INC¶

YOUR TOTAL ESTIMATED ANNUAL INCOME	$1,599,899
YOUR PRICED PORTFOLIOHOLDINGS	$66,940,688

Your Portfolio Holdings (continued)¶

STATEMENT PERIOD December 1, 2001¶

THROUGH December 31, 2001¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | November 30, 2001 |¶

| :--- | :--- |¶

Transaction Detail¶

INVESTMENT ACTIVITY¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
12/18/01	12/13/01	SOLD	LADENBURG THALMANN FINL SVCS INC AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED	LTS	-130,254	1.00370		127,993.75
12/18/01		JOURNAL	TOO INC TO SAME	TOO	-1,000,000
12/20/01	12/17/01	BOUGHT	AT&T CORP UNSOLICITED	T	1,102,200	16.53360	18,289,468.42
12/20/01	12/17/01	SOLD	AT&T CORP AS OF TRADE AS OF 12/17/01	T	-1,102,200	16.53360		18,222,723.97

027¶

01/03/02;08:34 001¶

EFTA00196482¶

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 Meterotech Center North Brooklyn, New York 11201-3859¶

6 of 9¶

FINANCIAL TRUST COMPANY INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD December 1, 2001¶

THROUGH December 31, 2001¶

INVESTMENT ACTIVITY (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | November 30, 2001 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOLICUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
12/20/01	12/11/01	BOUGHT	LADENBURG THALMANN FINL SVCS INC SPINOFF ON SHS VECTOR GROUP LTD SPINOFF VS V002114 REC 12/10/01 PAY 12/20/01 AS OF 12/11/01	LTS	130,254
12/20/01		DELIVERED	ESTEE LAUDER COMPANIES INC CL A DEL TO 00005	EL	-100,000			3,196,753.23
12/21/01	12/18/01	SOLD	TELIGENT INC-CLA	TGNQT	-60,000	0.00550		152.48
12/21/01	12/20/01	SOLD	CALL TOO INC JAN 025CBOE EXP 01/19/2002 UNSOLICITED OPEN CONTRACT	QTOOAE	-2,500	2.35000		578,727.91
12/21/01		JOURNAL	TOO INC JRL FM PER INTXS	TOO	100,000
12/26/01	12/24/01	SOLD	CALL TOO INC JAN 025CBOE EXP 01/19/2002 UNSOLICITED OPEN CONTRACT	QTOOAE	-500	2.75000		135,742.91
12/26/01	12/24/01	SOLD	CALL TOO INC FEB 025CBOE EXP 02/16/2002 UNSOLICITED OPEN CONTRACT AS OF 12/24/01	QTOOBE	-500	3.35000		165,741.91
12/26/01		JOURNAL	TOO INC JRL FM PER INTXS	TOO	50,000
TOTAL							$-18,289,468.42	$22,427,836.16

027¶

01/03/02;08:34 001¶

EFTA00196483¶

BEAR STEARNS¶

OFFICE SERVICING YOUR ACCOUNT¶

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

7 of 9¶

Transaction Detail (continued)¶

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

DEPOSITS AND WITHDRAWALS¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

FINANCIAL TRUST COMPANY INC¶

MONEY FUND ACTIVITY¶

STATEMENT PERIOD December 1, 2001¶

THROUGH December 31, 2001¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | November 30, 2001 |¶

| :--- | :--- |¶

DATE MO/DAY	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
12/01/01		OPENINGBALANCE		23,675,139.69
12/03/01	DIVIDEND	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES MONTHLY DIVIDEND	DICCX				47,863.33
12/03/01	REINVEST	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED	DICCX	47,863.33		47,863.33
12/05/01	BOUGHT	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICCX	11,400,000	1.0000	11,400,000.00
12/14/01	SOLD	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICCX	-1,000,000	1.0000		1,000,000.00
12/19/01	SOLD	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICCX	-2,000,000	1.0000		2,000,000.00

027¶

01/03/02;08:34 001¶

EFTA00196484¶

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 COMPANY INC¶

Transaction Detail (continued)¶

STATEMENT PERIOD December 1, 2001¶

THROUGH December 31, 2001¶

MONEY FUND ACTIVITY (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | November 30, 2001 |¶

| :--- | :--- |¶

DATE MO/DAY	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
12/20/01	BOUGHT	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICCX	3,400,000	1.0000	3,400,000.00
12/21/01	SOLD	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICCX	-1,000,000	1.0000		1,000,000.00
12/31/01	BOUGHT	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICCX	3,000,000	1.0000	3,000,000.00

12/31/01	CLOSINGBALANCE	37,523,003.02
TOTAL		-17,847,863.33	$4,047,863.33

DIVIDENDS¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE ($)	DEBIT AMOUNT	CREDIT AMOUNT
12/20/01	VECTOR GROUP LTD REC 12/10/01 PAY 12/20/01	VGR	374,294	0.4000		149,717.60
TOTAL						$149,717.60

INTEREST¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
12/21/01	INTEREST ON CREDIT BALANCE AT 1 1/4% 12/11 THRU 12/20			1.2500		28.64
12/21/01	INTEREST ON CREDIT BALANCE AT 1 1/2% 11/19 THRU 12/10			1.5000		2,083.19
TOTAL						$2,111.83

027¶

01/03/02;08:34 001¶

EFTA00196485¶

BEAR STEARNS¶

OFFICE SERVICING YOUR ACCOUNT¶

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

9 of 9¶

Transaction Detail (continued)¶

MISCELLANEOUS¶

DATE MO/DAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
12/04/01	JOURNAL	COL REC LOA FROM		10,479,583.05
12/21/01	JOURNAL	TO 353-01417	1,000,000.00
12/24/01	CASH-LIEU	LADENBURG THALMANN FINL SVCS INC CASH IN LIEU OF ,31200 VECTOR GROUP LTD REC 12/10/01 PAY 12/20/01 SPINOFF VS V002114		0.31
12/26/01	JOURNAL	BSIL-FINANCIAL TRUST CO., INC NY16418 EQUITY SWAP DUE 01/23/03 AT&T CORP DERIVATIVE SETTLEMENT		3,039,369.89
TOTAL			-1,000,000.00	$13,518,953.25

Your messages¶

As part of the National Association of Securities Dealer’s (NASD) Investor Education Program, you may obtain information on the NASD’s Public Disclosure Program by contacting the NASD at telephone number (800) 289-9999 or via the internet address which is www.nasdr.com. In addition, a brochure explaining the Public Disclosure Program is available from the NASD upon request.¶

CLEARED THROUGH ITS¶

CLEARLY WOUNDED SUBSIDIARY¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

FINANCIAL TRUST COMPANY INC¶

STATEMENT PERIOD December 1, 2001¶

THROUGH December 31, 2001¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | November 30, 2001 |¶

| :--- | :--- |¶

******* End of Statement*******¶

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01/03/02;08:34 001¶