EFTA00196627



OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179


| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | ZICHERMAN, IRA |

| TELEPHONE | |

| VISIT OUR WEBSITE | www.bearstearns.com |

## What’s In This Statement

Financial Summary 3

Your Portfolio Holdings ... 4

Transaction Detail ... 5

Fund Activity ... 6







CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



<table border="1"><tr><td>FINANCIAL TRUST COMPANY INC</td></tr><tr><td>C/O AMERICAN YACHT HARBOR *</td></tr><tr><td>6100 RED HOOK SUITE B-3</td></tr><tr><td>QUARTERS #2</td></tr><tr><td>ST THOMAS VI 00802</td></tr></table>

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

FINANCIAL TRUST COMPANY INC

## Your Portfolio at a Glance

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

TAXPAYER NUMBER On File

STATEMENT PERIOD March 29, 2002

ACCOUNT NUMBER

THROUGH April 26, 2002

| LAST STATEMENT | March 28, 2002 |

| :--- | :--- |

<table border="1"><tr><td>TOTAL VALUE OF SECURITIES THIS PERIOD</td><td>42,190,659</td></tr><tr><td>NET CREDIT BALANCE</td><td>515,220</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>57,658,516</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$100,364,395</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>107,353,290</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>-6,988,896</td></tr></table>

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 | 04/27/02;12:01 001 |

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EFTA00196628

CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY



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

FINANCIAL TRUST COMPANY INC

STATEMENT BACKER IS PRINTED ON THIS PAGE

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EFTA00196629



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

3 of 7

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$451,677.38</td></tr><tr><td>Securities Sold</td><td>413,229.57</td></tr><tr><td>Money Fund</td><td>4,297,882.18</td></tr><tr><td>Funds Deposited</td><td>50,000.00</td></tr><tr><td>Dividends/Interest</td><td>312.57</td></tr><tr><td>Amount Credited</td><td>$4,761,424.32</td></tr><tr><td>Money Fund</td><td>-97,882.18</td></tr><tr><td>Funds Withdrawn</td><td>-3,000,000.00</td></tr><tr><td>Miscellaneous</td><td>-1,600,000.00</td></tr><tr><td>Amount Debited</td><td>$-4,697,882.18</td></tr><tr><td>Net Cash Activity</td><td>63,542.14</td></tr><tr><td>Closing Balance</td><td>$515,219.52</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>451,677.38</td><td>515,219.52</td></tr><tr><td>Net Cash Balance</td><td>$451,677.38</td><td>$515,219.52</td></tr></table>

Income Summary

<table border="1"><tr><td></td><th>THIS PERIOD</th><th>YEAR TO DATE</th></tr><tr><td>Dividends</td><td>97,882.18</td><td>380,903.50</td></tr><tr><td>Credit Balance Int.</td><td>312.57</td><td>3,348.67</td></tr><tr><td>Total</td><td>$98,194.75</td><td>$384,252.17</td></tr></table>

Portfolio Composition

<table border="1"><tr><td></td><td>SHORT</td><td>LONG</td></tr><tr><td>Cash/Cash Equivalent</td><td></td><td>58,173,736</td></tr><tr><td>Equities</td><td>420,000</td><td>42,610,659</td></tr><tr><td>Total</td><td>$420,000</td><td>$100,784,395</td></tr></table>

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY

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

FINANCIAL TRUST COMPANY INC

<table border="1"><tr><td>STATEMENT PERIOD</td><td>March 29,2002</td></tr><tr><td>THROUGH</td><td>April 26,2002</td></tr><tr><td>ACCOUNT NUMBER</td><td></td></tr><tr><td>TAXPAYER NUMBER</td><td>On File</td></tr><tr><td>LAST STATEMENT</td><td>March 28,2002</td></tr></table>

Your Portfolio Allocation

EFTA00196630



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

4 of 7

## Your Portfolio Holdings

## CASH & CASH EQUIVALENTS

<table><thead><tr><th>DESCRIPTION</th><th>SYMBOL/CUSIP</th><th>QUANTITY</th><th>PRICE</th><th>MARKET VALUE</th><th>ESTIMATED ANNUAL INCOME</th><th>CURRENT YIELD (%)</th></tr></thead><tbody><tr><td>CASH BALANCE</td><td></td><td></td><td></td><td>515,220</td><td></td><td></td></tr><tr><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST. 30 DAY AVG YIELD 1,8500%</td><td>DICCX</td><td>57,658,515.92</td><td>1.0000</td><td>57,658,516</td><td>1,095,512</td><td>1.9000</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$58,173,736</td><td>$1,095,512</td><td></td></tr></tbody></table>

## EQUITIES

Equities & Options

<table><thead><tr><th>DESCRIPTION</th><th>SYMBOL/CUSIP</th><th>ACCT TYPE</th><th>QUANTITY</th><th>PRICE</th><th>MARKET VALUE</th><th>ESTIMATED ANNUAL INCOME</th><th>CURRENT YIELD (%)</th></tr></thead><tbody><tr><td>CNH GLOBAL</td><td>CNH</td><td>CASH</td><td>250,000</td><td>5.3600</td><td>1,340,000</td><td>18,750</td><td>1.3993</td></tr><tr><td>TOO INC</td><td>TOO</td><td>CASH</td><td>1,050,000</td><td>29.3000</td><td>30,765,000</td><td></td><td></td></tr><tr><td>CALL TOO INC MAY 030 CBOE EXP 05/18/2002</td><td>TOOEF</td><td>CASH</td><td>-6,000</td><td>0.7000</td><td>-420,000</td><td></td><td></td></tr><tr><td>VECTOR GROUP LTD</td><td>VGR</td><td>CASH</td><td>374,294</td><td>22.6800</td><td>8,488,988</td><td>598,870</td><td>7.0547</td></tr><tr><td>SENTIGEN HOLDING CP RSTD</td><td></td><td>CASH</td><td>333,334</td><td>6.0500</td><td>2,016,671</td><td></td><td></td></tr><tr><td>Total Equities&amp; Options</td><td></td><td></td><td></td><td></td><td>$42,190,659</td><td>$617,620</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$42,190,659</td><td>$617,620</td><td></td></tr></tbody></table>

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$1,713,132</td></tr><tr><td>YOUR PRICED PORTFOLIO HOLDINGS</td><td>$100,364,394</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY





Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



STATEMENT PERIOD March 29, 2002

FINANCIAL TRUST COMPANY INC

THROUGH April 26, 2002



ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | March 28, 2002 |

| :--- | :--- |

027



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EFTA00196631



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



**5 of 7**

FINANCIAL TRUST COMPANY INC



Transaction Detail


STATEMENT PERIOD March 29, 2002

INVESTMENT ACTIVITY

THROUGH April 26, 2002

TAXPAYER NUMBER On File

| LAST STATEMENT | March 28, 2002 |

| :--- | :--- |

<table><thead><tr><th>SETTLEMENT DATE</th><th>TRADE DATE</th><th>TRANSACTION</th><th>DESCRIPTION</th><th></th><th>SYMBOL/CUSIP</th><th>QUANTITY</th><th>PRICE</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>04/18/02</td><td>04/17/02</td><td>SOLD</td><td>CALL TOO INC EXP 05/18/2002 UNSOLICITED OPEN CONTRACT</td><td>MAY 030 CBOE</td><td>QTOOEF</td><td>-500</td><td>1.30500</td><td></td><td>63,495.53</td></tr><tr><td>04/19/02</td><td>04/18/02</td><td>SOLD</td><td>CALL TOO INC EXP 05/18/2002 UNSOLICITED OPEN CONTRACT AS OF 04/18/02</td><td>MAY 030 CBOE</td><td>QTOOEF</td><td>-3,500</td><td>0.75000</td><td></td><td>253,739.59</td></tr><tr><td>04/23/02</td><td>04/22/02</td><td>SOLD</td><td>CALL TOO INC EXP 05/18/2002 UNSOLICITED OPEN CONTRACT</td><td>MAY 030 CBOE</td><td>QTOOEF</td><td>-2,000</td><td>0.50500</td><td></td><td>95,994.45</td></tr></tbody></table>

## DEPOSITS AND WITHDRAWALS

<table><thead><tr><th>DATE</th><th>TRANSACTION</th><th>DESCRIPTION</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>04/04/02</td><td>FND WIRED</td><td>MDA NDSWIRED TO PALM BEACH NATL BK &amp; TR CO<br>$ FROM DREYFUS TODAY</td><td>2,000,000.00</td><td></td></tr><tr><td>04/18/02</td><td>FUNDS REC</td><td>FNDSWIRED TO CITIBANK FROM JPMORGAN CHASE BANK</td><td></td><td>50,000.00</td></tr><tr><td>04/26/02</td><td>FND WIRED</td><td>MDA NDSWIRED TO PALM BEACH NATL BK &amp; TR CO</td><td>1,000,000.00</td><td></td></tr><tr><td colspan="3">TOTAL</td><td>-3,000,000.00</td><td>$50,000.00</td></tr></tbody></table>

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EFTA00196632



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 7

FINANCIAL TRUST COMPANY INC

## Transaction Detail (continued)

STATEMENT PERIOD March 29, 2002

## MONEY FUND ACTIVITY

<table><thead><tr><th>DATE MO/DAY</th><th>TRANSACTION</th><th>DESCRIPTION</th><th>SYMBOL/CUSIP</th><th>QUANTITY</th><th>PRICE</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>03/29/02</td><td></td><td>OPENINGBALANCE</td><td></td><td>61.760.633.74</td><td></td><td></td><td></td></tr></tbody></table>

<table border="1"><tr><td>04/01/02</td><td>DIVIDEND</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES MONTHLY DIVIDEND</td><td colspan="3">DICCX</td><td>97,882.18</td></tr><tr><td>04/01/02</td><td>REINVEST</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED</td><td>DICCX</td><td>97,882.18</td><td></td><td>97,882.18</td><td></td></tr><tr><td>04/04/02</td><td>SOLD</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>-2,000,000</td><td>1.0000</td><td>2,000,000.00</td><td></td></tr><tr><td>04/09/02</td><td>SOLD</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>-700,000</td><td>1.0000</td><td>700,000.00</td><td></td></tr><tr><td>04/12/02</td><td>SOLD</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>-500,000</td><td>1.0000</td><td>500,000.00</td><td></td></tr><tr><td>04/26/02</td><td>SOLD</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>-1,000,000</td><td>1.0000</td><td>1,000,000.00</td><td></td></tr></table>

<table border="1"><tr><td>04/26/02</td><td>CLOSINGBALANCE</td><td colspan="2">57,658,515.92</td></tr><tr><td>TOTAL</td><td></td><td>-97,882.18</td><td>$4,297,882.18</td></tr></table>



INTEREST


<table><thead><tr><th>DATE</th><th>DESCRIPTION</th><th>SYMBOL/CUSIP</th><th>QUANTITY</th><th>RATE (%)</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>04/22/02</td><td>INTEREST ON CREDIT BALANCE AT 1 1/4% 03/21 THRU 04/20</td><td></td><td></td><td>1.2500</td><td></td><td>312.57</td></tr><tr><td colspan="6">TOTAL</td><td>$312.57</td></tr></tbody></table>

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EFTA00196633



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179

7 of 7

## **Transaction Detail** (continued)

## MISCELLANEOUS

<table><thead><tr><th>DATE MO/DAY</th><th>TRANSACTION</th><th>DESCRIPTION</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>04/09/02</td><td>JOURNAL</td><td>TO</td><td>1,100,000.00</td><td></td></tr><tr><td>04/12/02</td><td>JOURNAL</td><td>TO</td><td>500,000.00</td><td></td></tr><tr><td colspan="3">TOTAL</td><td>-1,600,000.00</td><td></td></tr></tbody></table>





******* End of Statement*******




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 March 29, 2002

THROUGH April 26, 2002

ACCOUNT NUMBER

| LAST STATEMENT | March 28, 2002 |

| :--- | :--- |

TAXPAYER NUMBER On File

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