EFTA00196510 OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 245 Park Avenue New York, New York 10167 | | | | :--- | :--- | | ACCOUNT EXECUTIVE | ZICHERMAN, IRA | | TELEPHONE | | | VISIT OUR WEBSITE | www.bearstearns.com | CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY ## What’s In This Statement Your Portfolio Holdings ... 4 Transaction Detail ... 5 Fund Activity ... 6 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 TAXPAYER NUMBER On File STATEMENT PERIOD July 28, 2001 | LAST STATEMENT | July 27, 2001 | | :--- | :--- | ACCOUNT NUMBER THROUGH August 31, 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	33,161,240
NET CREDIT BALANCE	322,764
MONEY MARKET FUND BALANCE	28,800,000
NET EQUITY THIS PERIOD	$62,284,004
NET EQUITY LAST STATEMENT	47,678,411
CHANGE SINCE LAST STATEMENT	14,605,594

Market Value of Your Portfolio 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. | | :--- | :--- | | 027 | 09/01/01:10:37 001 | EFTA00196511 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 2 of 8 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 EFTA00196512 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 245 Park Avenue New York, New York 10167 3 of 8 Cash Flow Analysis

	THIS PERIOD
OpeningBalance	$497,903.66
Securities Sold	36,459,808.11
Money Fund	5,000,000.00
Dividends/Interest	59,492.12
Miscellaneous	5,560.46
Amount Credited	$41,524,860.69
Money Fund	-33,800,000.00
Miscellaneous	-7,900,000.00
Amount Debited	$-41,700,000.00
Net Cash Activity	-175,139.31
Closing Balance	$322,764.35

Same day transfers of cash between account types are not included in this section; such transfers, as well as details for all other transactions this period, appear in Transaction Detail. Cash Balance Summary

	OPENING	CLOSING
Cash	216,490.16	0.00
Margin	281,413.50	322,764.35
Net Cash Balance	$497,903.66	$322,764.35

Income Summary

	THIS PERIOD	YEAR TO DATE
Dividends	52,439.54	733,177.54
Substitute Payment	5,560.46	74,719.26
Credit Balance Int.	7,052.58	30,388.72
Total	$65,052.58	$838,285.52
Foreign Tax Withheld	0.00	-150.00
Margin Int. Paid	0.00	-48,493.06

Portfolio Composition

	SHORT	LONG
Cash/Cash Equivalent		29,122,764
Equities	2,252,500	35,413,740
Total	$2,252,500	$64,536,504

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	July 28, 2001
THROUGH	August 31, 2001
ACCOUNT NUMBER
TAXPAYER NUMBER	On File
LAST STATEMENT	July 27, 2001

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. EFTA00196513 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 245 Park Avenue New York, New York 10167 4 of 8 ## Your Portfolio Holdings ## CASH & CASH EQUIVALENTS

DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CASH BALANCE				322,764
DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICCX	28,800,000	1.0000	28,800,000	1,123,200	3.9000
TOTAL CASH & CASH EQUIVALENTS				$29,122,764	$1,123,200

## EQUITIES Equities & Options

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CNH GLOBAL	CNH	MRGN	250,000	7.5000	1,875,000	138,000	7.3600
TELIGENT INC-CL A	TGNTQ	CASH	60,000	0.1300	7,800
TOO INC	TOO	CASH	400,000	27.5200	11,008,000
CALL TOO INC SEP 025 CBOE EXP 09/22/2001	TOOIE	CASH	-3,050	2.5000	-762,500
VECTOR GROUP LTD	VGR	MRGN	456,471	44.9600	20,522,936	730,354	3.5587
CALL VECTOR GROUP NOV 030 AMEX EXP 11/17/2001	VGRK30	MRGN	-1,000	14.9000	-1,490,000
SENTIGEN HOLDING CP RSTD		CASH	333,334	6.0000	2,000,004
Total Equities& Options					$33,161,240	$868,354
TOTAL EQUITIES					$33,161,240	$868,354

YOUR TOTAL ESTIMATED ANNUAL INCOME	$1,991,554
YOUR PRICED PORTFOLIOHOLDINGS	$62,284,004

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 STATEMENT PERIOD July 28, 2001 THROUGH August 31, 2001 FINANCIAL TRUST COMPANY INC AGCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | July 27, 2001 | | :--- | :--- | 027 09/01/01;10:37 001 V496 EFTA00196514 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 245 Park Avenue New York, New York 10167 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 5 of 8 FINANCIAL TRUST COMPANY INC Transaction Detail ## INVESTMENT ACTIVITY

DEMENTMENT DATE	DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	PRICE	CREDIT AMOUNT
08/01/01	07/31/01	SOLD	CALL TOO INC SEP 025 CBOE EXP 09/22/2001 UNSOLICITED OPEN CONTRACT	QTOOIE	-50	1.00000	4,847.33
08/03/01	07/31/01	SOLD	TOO INC UNSOLICITED	TOO	-3,000	24.90000	74,517.51
08/03/01	07/31/01	SOLD	TOO INC UNSOLICITED AS OF 07/31/01	TOO	-497,000	23.25000	11,554,862.32
08/03/01	08/02/01	SOLD	CALL TOO INC SEP 025 CBOE EXP 09/22/2001 UNSOLICITED OPEN CONTRACT	QTOOIE	-1,000	0.80000	76,994.83
08/17/01		JOURNAL	CALL VECTOR GROUP AUG 030 AMEX EXP 08/18/2001 AE ASSIGNED 00006		6
08/20/01		JOURNAL	CALL TOO INC AUG 025 CBOE EXP 08/18/2001 AE QTOOHE ASSIGNED 00561		1,000
08/20/01		JOURNAL	CALL VECTOR GROUP AUG22.50AMEX EXP 08/18/2001 AE ASSIGNED 00591		736
08/20/01		JOURNAL	CALL VECTOR GROUP AUG 030 AMEX EXP 08/18/2001 AE ASSIGNED 00592		34
08/21/01	08/17/01	SOLD	VECTOR GROUP LTD SEE NOTE "S" ON BACK AE 6 ASSIGNED	VGR	-600	30.00000	17,946.90
08/22/01	08/20/01	SOLD	TOO INC AE QTOOHE 1000 ASSIGNED	TOO	-100,000	25.00000	2,497,414.16
08/22/01	08/20/01	SOLD	VECTOR GROUP LTD SEE NOTE "S" ON BACK AE 34 ASSIGNED	VGR	-3,400	30.00000	101,911.60

027 09/01/01;10:37 001 EFTA00196515 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 245 Park Avenue New York, New York 10167 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 6 of 8 FINANCIAL TRUST COMPANY INC ## **Transaction Detail** (continued) ## INVESTMENT ACTIVITY (continued)

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	CREDIT AMOUNT
08/22/01	08/20/01	SOLD	VECTOR GROUP LTD SEE NOTE "S" ON BACK A/E 736 ASSIGNED	VGR	-73,600	22.50000	1,654,102.30
08/24/01	08/23/01	SOLD	CALL TOO INC SEP 025 CBOE EXP 09/22/2001 UNSOLICITED OPEN CONTRACT	QTOOIE	-2,000	1.50000	292,987.50
08/24/01		JOURNAL	BOSTON PROPERTIES INC JRL FM PER INTXS	BXP	400,000
08/27/01	08/22/01	SOLD	BOSTON PROPERTIES INC UNSOLICITED	BXP	-250,000	40.33590	10,068,638.86
08/27/01	08/22/01	SOLD	BOSTON PROPERTIES INC UNSOLICITED	BXP	-250,000	40.52370	10,115,584.80
TOTAL								$36,459,808.11

## MONEY FUND ACTIVITY

DATE MO/DAY	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/28/01		OPENINGBALANCE		0.00
08/08/01	BOUGHT	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES BUY FD	DICCX	11,000,000	1.0000	11,000,000.00
08/13/01	BOUGHT	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES S/D BUY	DICCX	800,000	1.0000	800,000.00
08/24/01	SOLD	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES SELL FD	DICCX	-1,000,000	1.0000		1,000,000.00

027 09/01/01;10:37 001 EFTA00196516 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 245 Park Avenue New York, New York 10167 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY Bear, Steams Securities Corp. One Metratech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC

STATEMENT PERIOD	July 28,2001
THROUGH	August 31,2001
ACCOUNT NUMBER
TAXPAYER NUMBER	On File
LAST STATEMENT	July 27,2001

DATE MO/DAY	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
08/24/01	SOLD	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES SELL FD	DICCX	-2,000,000	1.0000		2,000,000.00
08/28/01	BOUGHT	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES BUY FD	DICCX	22,000,000	1.0000	22,000,000.00
08/30/01	SOLD	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES SELL FD	DICCX	-2,000,000	1.0000		2,000,000.00
08/31/01		CLOSING BALANCE		28,800,000
TOTAL						-$33,800,000.00	$5,000,000.00

## DIVIDENDS

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE ($)	DEBIT AMOUNT	CREDIT AMOUNT
07/30/01	BOSTON PROPERTIES INC REC 06/29/01 PAY 07/30/01	BXP	90,413	0.5800		52,439.54
TOTAL						$52,439.54

027 09/01/01;10:37 001 EFTA00196517 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 245 Park Avenue New York, New York 10167 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 8 of 8 FINANCIAL TRUST COMPANY INC ## **Transaction Detail** (continued) STATEMENT PERIOD July 28, 2001 SUBSTITUTEPAYMENTS THROUGH August 31, 2001 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | July 27, 2001 | | :--- | :--- |

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE ($)	DEBIT AMOUNT	CREDIT AMOUNT
07/30/01	BOSTON PROPERTIES INC SUBST PAY ON 9587 SHS	BXP				5,560.46
TOTAL						$5,560.46

INTEREST

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
08/21/01	INTEREST ON CREDIT BALANCE AT 3 1/4% 07/21 THRU 08/20			3.2500		7,052.58
TOTAL						$7,052.58

## MISCELLANEOUS

DATE MO/DAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUN
08/24/01	JOURNAL	TO SAME	1,900,000.00
08/24/01	JOURNAL	TO SAME	4,000,000.00
08/30/01	JOURNAL	JOURNAL FROM TYPE 2 TO 1		21,974,833.61
08/30/01	JOURNAL	JOURNAL FROM TYPE 2 TO 1	21,974,833.61
08/31/01	JOURNAL	JNL TO 353-01502PER LOA	2,000,000.00
TOTAL			-29,874,833.61	$21,974,833.61

027 09/01/01;10:37 001