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

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY

FINANCIAL TRUST COMPANY INC

C/O AMERICAN YACHT HARBOR *

6100 RED HOOK SUITE B-3

QUARTERS #2

ST THOMAS VI 00802

TOTAL VALUE OF SECURITIES THIS PERIOD	9,434,566
NET CREDIT BALANCE	21,674
MONEY MARKET FUND BALANCE	3,815,194
NET EQUITY THIS PERIOD	$13,271,434
NET EQUITY LAST STATEMENT	14,260,070
CHANGE SINCE LAST STATEMENT	-988,636

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 10:26/02;10:31 001 V637 EFTA00196582 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 2 of 6 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 EFTA00196583 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 3 of 6 Cash Flow Analysis

	THIS PERIOD
OpeningBalance	$200,509.52
Money Fund	5,403.95
Dividends/Interest	147.93
Miscellaneous	9.17
Amount Credited	$5,561.05
Money Fund	-5,403.95
Funds Withdrawn	-178,993.00
Amount Debited	$-184,396.95
Net Cash Activity	-178,835.90
Closing Balance	$21,673.62

Cash Balance Summary

	OPENING	CLOSING
Cash	200,509.52	21,673.62
Net Cash Balance	$200,509.52	$21,673.62

Income Summary

	THIS PERIOD	YEAR TO DATE
Dividends	5,403.95	937,693.56
Credit Balance Int.	147.93	16,912.89
Total	$5,551.88	$954,606.45
Foreign Tax Withheld	0.00	-4,500.00

Portfolio Composition

Cash/Cash Equivalent	3,836,868
Equities	9,434,566
Total	$13,271,434

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 | September 28, 2002 | | :--- | :--- | | THROUGH | October 25, 2002 | | ACCOUNT NUMBER | | | :--- | :--- | | TAXPAYER NUMBER | On File | | LAST STATEMENT | September 27, 2002 | 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. EFTA00196584 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 4 of 6 ## Your Portfolio Holdings CASH & CASH EQUIVALENTS

DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CASH BALANCE				21,674
DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 1,6600%	DICXX	3,815,194.24	1.0000	3,815,194	64,858	1.7000
TOTAL CASH & CASH EQUIVALENTS				$3,836,868	$64,858

## EQUITIES ## Equities & Options

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
FLEXTRONICS INTERNATIONAL LTD	FLEX	CASH	100,000	8.4400	844,000
GALYANS TRADING INC	GLYN	CASH	150,000	10.6500	1,597,500
TYCO INTERNATIONAL LTD	TYC	CASH	100,000	15.4000	1,540,000	5,000	0.3247
VECTOR GROUP LTD	VGR	CASH	393,008	10.0500	3,949,730	628,813	15.9204
SENTIGEN HOLDING CP RSTD		CASH	333,334	4.5100	1,503,336
Total Equities& Options					$9,434,566	$633,813
TOTAL EQUITIES					$9,434,566	$633,813

YOUR TOTAL ESTIMATED ANNUAL INCOME	$698,671
YOUR PRICED PORTFOLIO HOLDINGS	$13,271,434

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 STATEMENT PERIOD September 28, 2002 FINANCIAL TRUST COMPANY INC | THROUGH | October 25, 2002 | | :--- | :--- | AGCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | September 27, 2002 | | :--- | :--- | 027 10/26/02;10:31 001 EFTA00196585 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 6** Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 Transaction Detail DEPOSITS AND WITHDRAWALS

DATE	TRANSACTION	DESCRIPTION	DEBIT AMOUNT
10/01/02	FND WIRED	MDA# JPMORGAN CRASE BANK FD	35,000.00
10/15/02	FND WIRED	MDA# JPMORGAN CRASE BANK FD	26,000.00
10/22/02	FND WIRED	MDA# AQUIRED ROYAL BANK OF CANA FD	100,000.00
10/24/02	CHECK	CK GEORGE V. DELSON ACCT	17,993.00
TOTAL			-178,993.00

DATE MO/DAY	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	DEBIT AMOUNT	CREDIT AMOUNT
09/28/02		OPENINGBALANCE		3,809,790.29
10/01/02	DIVIDEND	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES MONTHLY DIVIDEND	DICXX			5,403.95
10/01/02	REINVEST	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED	DICXX	5,403.95	5,403.95
10/25/02		CLOSINGBALANCE		3,815,194.24
TOTAL					-5,403.95	$5,403.95

027 10/26/02;10:31 001 EFTA00196586 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 6 of 6 FINANCIAL TRUST COMPANY INC ## **Transaction Detail** (continued) STATEMENT PERIOD September 28, 2002 INTEREST | THROUGH | October 25, 2002 | | :--- | :--- | ACCOUNT NUMBER TAXPAYER NUMBER On File

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
10/21/02	INTEREST ON CREDIT BALANCE AT 1 1/4% 09/21 THRU 10/20			1.2500		147.93
TOTAL						$147.93

DATE MO/DAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
09/30/02	CASH-LIEU	VECTOR GROUP LTD CASH IN LIEU OF .70000 REC 09/20/02 PAY 09/27/02		9.17
TOTAL				$9.17

******* End of Statement******* 027 10/26/02;10:31 001 V637