EFTA00196552 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 EFTA00196553 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	$160,421.16
Securities Sold	1,195,456.89
Funds Deposited	14,504,392.82
Dividends/Interest	14,792.30
Amount Credited	$15,714,642.01
Securities Bought	-195,842.50
Funds Withdrawn	-19,950,000.00
Amount Debited	$-20,145,842.50
Net Cash Activity	-4,431,200.49
Closing Balance	$-4,270,779.33

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	160,421.16	0.00
Margin	0.00	-4,270,779.33
Net Cash Balance	$160,421.16	$-4,270,779.33

Income Summary

	THIS PERIOD	YEAR TO DATE
Credit Balance Int.	14,792.30	22,069.76
Total	$14,792.30	$22,069.76

Portfolio Composition

	SHORT	LONG
Cash/Cash Equivalent	4,270,779
Equities	595,730	36,644,933
Total	$4,866,509	$36,644,933

Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 FINANCIAL TRUST COMPANY INC | STATEMENT PERIOD | January 27, 2001 | | :--- | :--- | | THROUGH | February 23, 2001 | | ACCOUNT NUMBER | | | :--- | :---| | TAXPAYER NUMBER | 660-56-7418 | | LAST STATEMENT | January 26, 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. EFTA00196554 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
CASH BALANCE				-4,270,779
TOTAL CASH & CASH EQUIVALENTS				$-4,270,779

## EQUITIES # Equities & Options

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
BOSTON PROPERTIES INC	BXP	CASH	500,000	40.2000	20,100,000	1,060,000	5.2736
CHILDRENS PLACE RETAIL STORES INC	PLCE	CASH	60,000	21.1250	1,267,500
TELIGENT INC-CL A	TGNT	CASH	60,000	1.6250	97,500
VECTOR GROUP LTD	VGR	MRGN	710,671	21.3600	15,179,933	1,137,074	7.4906
CALL VECTOR GROUP MAR 020 AMEX EXP 03/17/2001	VGRC20	MRGN	-1,350	2.1500	-290,250
CALL VECTOR GROUP MAY 020 AMEX EXP 05/19/2001	VGRE20	MRGN	-1,091	2.8000	-305,480
Total Equities& Options					$36,049,203	$2,197,074
TOTAL EQUITIES					$36,049,203	$2,197,074

YOUR TOTAL ESTIMATED ANNUAL INCOME	$2,197,074
YOUR PRICED PORTFOLIOHOLDINGS	$31,778,423

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 January 27, 2001 THROUGH February 23, 2001 AGCOUNT NUMBER TAXPAYER NUMBER 660-56-7418 | LAST STATEMENT | January 26, 2001 | | :--- | :--- | 027 02/24/01;20:42 001 EFTA00196555 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 **5 of 8** FINANCIAL TRUST COMPANY INC Transaction Detail STATEMENT PERIOD January 27, 2001 THROUGH February 23, 2001 ## INVESTMENT ACTIVITY ACCOUNT NUMBER TAXPAYER NUMBER 660-56-7418 | LAST STATEMENT | January 26, 2001 | | :--- | :--- |

INDEX	DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	CREDIT AMOUNT
01/29/01	01/26/01	SOLD	CALL VECTOR GROUP MAR 020AMEX EXP 03/17/2001 CUSIP NUMBER TO FOLLOW, UNSOLICITED OPEN CONTRACT		-350	1.01790	34,397.81
01/29/01		RECEIVED	ASIA GLOBAL CROSSING LTD CL A 0015	AGCX	15,000
01/30/01	01/25/01	SOLD	ASIA GLOBAL CROSSING LTD CL A UNSOLICITED WE MAKE A MKT IN THIS SECURITY AVG PRICE: DETAILS ON REQUEST UNIT PRICE: 8,345800 DFFERENCE • 0,060000	AGCX	-15,000	8.28580	124,280.35
01/30/01	01/29/01	SOLD	CALL VECTOR GROUP MAR 020AMEX EXP 03/17/2001 UNSOLICITED OPEN CONTRACT		-1,000	0.80000	77,494.83
01/31/01	01/26/01	SOLD	ASIA GLOBAL CROSSING LTD CL A UNSOLICITED WE MAKE A MKT IN THIS SECURITY AVG PRICE: DETAILS ON REQUEST UNIT PRICE: 9,113500 DFFERENCE • 0,060000	AGCX	-25,000	9.05250	226,302.45
01/31/01		RECEIVED	ASIA GLOBAL CROSSING LTD CL A 0015	AGCX	85,000
02/01/01	01/29/01	SOLD	ASIA GLOBAL CROSSING LTD CL A UNSOLICITED WE MAKE A MKT IN THIS SECURITY AVG PRICE: DETAILS ON REQUEST UNIT PRICE: 8,760400 DFFERENCE • 0,060000	AGCX	-60,000	8.70040	522,004.09

027 02/24/01;20:42 001 EFTA00196556 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 Meterotech Center North Brooklyn, New York 11201-3859 6 of 8 FINANCIAL TRUST COMPANY INC ## **Transaction Detail** (continued) STATEMENT PERIOD January 27, 2001 THROUGH February 23, 2001 ## INVESTMENT ACTIVITY (continued) ACCOUNT NUMBER TAXPAYER NUMBER 660-56-7418 | LAST STATEMENT | January 26, 2001 | | :--- | :--- |

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
02/12/01	02/09/01	BOUGHT	CALL VECTOR GROUP FEB 019AMEX ADJ 5% STOCK DIVIDEND EXP 02/17/2001 UNSOLICITED CLOSING CONTRACT		1,020	1.80000	195,842.50
02/12/01	02/09/01	SOLD	CALL VECTOR GROUP MAY 020AMEX EXP 05/19/2001 UNSOLICITED OPEN CONTRACT		-1,071	2.00000		210,977.36
02/21/01		RECEIVED	BOSTON PROPERTIES INC DWAC	BXP	500,000
02/21/01		JOURNAL	VECTOR GROUP LTD JOURNAL FROM TYPE 1 TO 2	VGR	-710,671
02/21/01		JOURNAL	CALL VECTOR GROUP MAR 020AMEX EXP 03/17/2001 JOURNAL FROM TYPE 2 TO 1		1,350
02/21/01		JOURNAL	CALL VECTOR GROUP MAY 020AMEX EXP 05/19/2001 JOURNAL FROM TYPE 2 TO 1		1,091
02/21/01		JOURNAL	VECTOR GROUP LTD JOURNAL FROM TYPE 1 TO 2	VGR	710,671
02/21/01		JOURNAL	CALL VECTOR GROUP MAR 020AMEX EXP 03/17/2001 JOURNAL FROM TYPE 2 TO 1		-1,350
02/21/01		JOURNAL	CALL VECTOR GROUP MAY 020AMEX EXP 05/19/2001 JOURNAL FROM TYPE 2 TO 1		-1,091
TOTAL						-195,842.50	$1,195,456.89

027 02/24/01;20:42 00: EFTA00196557 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 245 Park Avenue New York, New York 10167 7 of 8 ## Transaction Detail (continued) DEPOSITS AND WITHDRAWALS

DATE	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
02/05/01	FUNDS REC	ENDS WIRED TO CITIBANK FROM BANKERS NYC		4,392.82
02/16/01	FUNDS REC	ENDS WIRED TO CITIBANK FROM J.P. MORGAN		14,500,000.00
02/21/01	FND WIRED	WIRED TO BANK OF NEW YORK (PUT DIFF. ON MARGIN)	19,950,000.00
TOTAL			-19,950,000.00	$14,504,392.82

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY INTEREST

DATE	DESCRIPTION	RATE (%)	CREDIT AMOUNT
02/21/01	INTEREST ON CREDIT BALANCE AT 5 1/2% 01/21 THRU 01/30	5.5000	1,427.38
02/21/01	INTEREST ON CREDIT BALANCE AT 5,000% 01/31 THRU 02/20	5.0000	13,364.92
TOTAL			$14,792.30

Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 ## MISCELLANEOUS STATEMENT PERIOD January 27, 2001

DATE MO/DAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
02/21/01	JOURNAL	JOURNAL FROM TYPE 2 TO 1		4,285,571.63
02/21/01	JOURNAL	JOURNAL FROM TYPE 2 TO 1	4,285,571.63
02/22/01	JOURNAL	JOURNAL FROM TYPE 1 TO 2	14,792.30

| LAST STATEMENT | January 26, 2001 | | :--- | :--- | *Note: The table is empty as there are no headings or paragraphs.* THROUGH February 23, 2001 ACCOUNT NUMBER TAXPAYER NUMBER 660-56-7418 FINANCIAL TRUST COMPANY INC 027 EFTA00196558 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 245 Park Avenue New York, New York 10167 8 of 8 ## **Transaction Detail** (continued) MISCELLANEOUS (continued)

DATE MO/DAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
02/22/01	JOURNAL	JOURNAL FROM TYPE 1 TO 2		14,792.30
TOTAL			-4,300,363.93	$4,300,363.93

## Your messages The interest, if any, charged to your account during December 2000 was computed on the net debit balance through December 28. The interest, if any, charged to your account during January 2001 is computed from December 29, 2000. STOP ******* End of Statement******* 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 January 27, 2001 THROUGH February 23, 2001 ACCOUNT NUMBER | LAST STATEMENT | January 26, 2001 | | :--- | :--- | TAXPAYER NUMBER 660-56-7418 027 02/24/01;20:42 001