EFTA00196634

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

Your Portfolio Holdings ... 4



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



Transaction Detail ... 5

Fund Activity 5

Your Messages ... 7







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

STATEMENT PERIOD February 23, 2002

TAXPAYER NUMBER On File

## Your Portfolio at a Glance

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

| LAST STATEMENT | February 22, 2002 |

| :--- | :--- |

ACCOUNT NUMBER

THROUGH March 28, 2002

<table border="1"><tr><td>TOTAL VALUE OF SECURITIES THIS PERIOD</td><td>45,140,979</td></tr><tr><td>NET CREDIT BALANCE</td><td>451,677</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>61,760,634</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$107,353,290</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>88,052,843</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>19,300,447</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.

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 03/29/02;20:33 001

V555

EFTA00196635

CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY



2 of 7


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

EFTA00196636



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>$650,396.89</td></tr><tr><td>Money Fund</td><td>12,563,975.68</td></tr><tr><td>Funds Deposited</td><td>150,000.00</td></tr><tr><td>Dividends/Interest</td><td>151,280.49</td></tr><tr><td>Miscellaneous</td><td>30,000,000.00</td></tr><tr><td>Amount Credited</td><td>$42,865,256.17</td></tr><tr><td>Money Fund</td><td>-30,063,975.68</td></tr><tr><td>Funds Withdrawn</td><td>-13,000,000.00</td></tr><tr><td>Amount Debited</td><td>$-43,063,975.68</td></tr><tr><td>Net Cash Activity</td><td>-198,719.51</td></tr><tr><td>Closing Balance</td><td>$451,677.38</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>650,396.89</td><td>451,677.38</td></tr><tr><td>Net Cash Balance</td><td>$650,396.89</td><td>$451,677.38</td></tr></table>

Income Summary

<table border="1"><tr><td></td><td>THIS PERIOD</td><td>YEAR TO DATE</td></tr><tr><td>Dividends</td><td>213,693.28</td><td>283,021.32</td></tr><tr><td>Credit Balance Int.</td><td>1,562.89</td><td>3,036.10</td></tr><tr><td>Total</td><td>$215,256.17</td><td>$286,057.42</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>62,311</td></tr><tr><td>Equities</td><td>45,140,979</td></tr><tr><td>Total</td><td>$107,353,290</td></tr></table>



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 February 23, 2002

THROUGH March 28, 2002



ACCOUNT NUMBER



Your Portfolio Allocation

TAXPAYER NUMBER On File

| LAST STATEMENT | February 22, 2002 |

| :--- | :--- |

Unshaded portions denote debit balance and/or short market values. The allocation percentage is derived from the absolute market value of your portfolio.

EFTA00196637



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>451,677</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>61,760,633.74</td><td>1.0000</td><td>61,760,634</td><td>1,049,931</td><td>1.7000</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$62,311</td><td>$1,049,931</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>5.2200</td><td>1,305,000</td><td>21,250</td><td>1.6284</td></tr><tr><td>TOO INC</td><td>TOO</td><td>CASH</td><td>1,050,000</td><td>29.4900</td><td>30,964,500</td><td></td><td></td></tr><tr><td>VECTOR GROUP LTD</td><td>VGR</td><td>CASH</td><td>374,294</td><td>28.6000</td><td>10,704,808</td><td>598,870</td><td>5.5944</td></tr><tr><td>SENTIGEN HOLDING CP RSTD</td><td></td><td>CASH</td><td>333,334</td><td>6.5000</td><td>2,166,671</td><td></td><td></td></tr><tr><td>Total Equities&amp; Options</td><td></td><td></td><td></td><td></td><td>$45,140,979</td><td>$620,120</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$45,140,979</td><td>$620,120</td><td></td></tr></tbody></table>

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$1,670,051</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$107,353,290</td></tr></table>



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 February 23, 2002

THROUGH March 28, 2002

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | February 22, 2002 |

| :--- | :--- |

027



03/29/02;20:33 001


V555

EFTA00196638



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

5 of 7



CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY





Transaction Detail


Bear, Steams Securities Corp.

One Meterotech Center North Brooklyn, New York 11201-3859

## DEPOSITS AND WITHDRAWALS



FINANCIAL TRUST COMPANY INC

STATEMENT PERIOD February 23, 2002

THROUGH March 28, 2002



ACCOUNT NUMBER



| LAST STATEMENT | February 22, 2002 |

| :--- | :--- |

TAXPAYER NUMBER On File

## 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>02/23/02</td><td></td><td>OPENINGBALANCE</td><td></td><td>44,196,658.06</td><td></td><td></td><td></td></tr><tr><td>02/28/02</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></td><td>1,000,000.00</td></tr><tr><td>02/28/02</td><td>SOLD</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>-10,000,000</td><td>1.0000</td><td></td><td>10,000,000.00</td></tr><tr><td>03/01/02</td><td>BOUGHT</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>30,000,000</td><td>1.0000</td><td>30,000,000.00</td><td></td></tr><tr><td>03/01/02</td><td>DIVIDEND</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES MONTHLY DIVIDEND</td><td>DICCX</td><td></td><td></td><td></td><td>63,975.68</td></tr><tr><td>03/01/02</td><td>REINVEST</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED</td><td>DICCX</td><td>63,975.68</td><td></td><td>63,975.68</td><td></td></tr></tbody></table>

027



03/29/02;20:33 001


EFTA00196639



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 February 23, 2002

THROUGH March 28, 2002

## MONEY FUND ACTIVITY (continued)



ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | February 22, 2002 |

| :--- | :--- |

<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>03/14/02</td><td>SOLD</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>-1,500,000</td><td>1.0000</td><td></td><td>1,500,000.00</td></tr></tbody></table>

<table border="1"><tr><td>03/28/02</td><td>CLOSINGBALANCE</td><td colspan="2">61,760,633.74</td></tr><tr><td>TOTAL</td><td></td><td>-30,063,975.68</td><td>$12,563,975.68</td></tr></table>

## DIVIDENDS

<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>03/28/02</td><td>VECTOR GROUP LTD<br>REC 03/21/02 PAY 03/28/02</td><td>VGR</td><td>374,294</td><td>0.4000</td><td></td><td>149,717.60</td></tr><tr><td colspan="6">TOTAL</td><td>$149,717.60</td></tr></tbody></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>03/21/02</td><td>INTEREST ON CREDIT BALANCE AT 1 1/4% 02/21 THRU 03/20</td><td></td><td></td><td>1.2500</td><td></td><td>1,562.89</td></tr><tr><td colspan="7">TOTAL</td><td>$1,562.89</td></tr></tbody></table>

027



03/29/02;20:33 001


V555

EFTA00196640



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

7 of 7



CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY



## **Transaction Detail** (continued)

## MISCELLANEOUS

<table><thead><tr><th>DATE MO/DAY</th><th>TRANSACTION</th><th>DESCRIPTION</th><th></th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>02/28/02</td><td>JOURNAL</td><td>FROM: XBI PER LOA * JRL *</td><td>-USD</td><td></td><td>30,000,000.00</td></tr><tr><td colspan="5">TOTAL</td><td>$30,000,000.00</td></tr></tbody></table>



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



## Your messages



Pursuant to SEC Rule 11Ac1-6, Bear, Stearns & Co., Inc will publicly post its quarterly routing statistics at the following web link: http://www.bearstearns.com/corporate/business/equities/orp.htm

FINANCIAL TRUST COMPANY INC

AGCOUNT NUMBER

TAXPAYER NUMBER On File

STATEMENT PERIOD February 23, 2002

| LAST STATEMENT | February 22, 2002 |

| :--- | :--- |

THROUGH March 28, 2002



Bear, Stearns Securities Corp, Net Capital and Net Capital Requirements:

At November 30, 2001 and January 31, 2002, the Company's net capital of approximately $2,6 billion and $2,6 billion was approximately 9% and 8% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately $604.1 million and $648.0 million by approximately $2,0 billion and $2,0 billion, all respectively.

A complete copy of the Bear, Stearns Securities Corp., Statement of Financial Condition is available on the web site www.bearstearns.com. Alternatively, to request a free printed copy please call -toll free 1-866-299-9331.

STOP



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


027



03/29/02;20:33 001