EFTA00196972

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

<table><tr><td>Transaction Detail</td><td>6</td></tr></table>

Fund Activity 6





<table><tr><td>FINANCIAL TRUST COMPANY INC</td></tr><tr><td>C/O AMERICAN YACHT HARBOR</td></tr><tr><td>6100 RED HOOK SUTE B-3</td></tr><tr><td>QUAETERS #2</td></tr><tr><td>ST THOMAS VI 00802-1348</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



## Your Portfolio at a Glance

<table border="1"><tr><td>TOTAL VALUE OF SECURITIES THIS PERIOD</td><td>49,721,534</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>9,474,931</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$59,196,465</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>61,184,044</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>-1,987,579</td></tr></table>



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



| LAST STATEMENT | July 31, 2006 |

| :--- | :--- |

TAXPAYER NUMBER On File

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



ACCOUNT NUMBER



FINANCIAL TRUST COMPANY INC

STATEMENT PERIOD August 1, 2006

| THROUGH | August 31, 2006 |

| :--- | :--- |

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.

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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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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>$0.00</td></tr><tr><td>Money Fund</td><td>1,154,688.96</td></tr><tr><td>Dividends/Interest</td><td>397,984.00</td></tr><tr><td>Amount Credited</td><td>$1,552,672.96</td></tr><tr><td>Money Fund</td><td>-448,744.87</td></tr><tr><td>Funds Withdrawn</td><td>-1,103,928.09</td></tr><tr><td>Amount Debited</td><td>$-1,552,672.96</td></tr><tr><td>Closing Balance</td><td>$0.00</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>448,744.87</td><td>1,839,214.01</td></tr><tr><td>Total</td><td>$448,744.87</td><td>$1,839,214.01</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>9,474,931</td></tr><tr><td>Equities</td><td>49,721,534</td></tr><tr><td>Total</td><td>$59,196,465</td></tr></table>

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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 August 1, 2006

THROUGH August 31, 2006

Your Portfolio Allocation

| ACCOUNT NUMBER | |
| :--- | :---|
| TAXPAYER NUMBER | On File |
| LAST STATEMENT | July 31, 2006 |

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



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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

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## Your Portfolio Holdings

## CASH & CASH EQUIVALENTS



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY



<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>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 5.2300%</td><td>DICXX</td><td>9,474,930.56</td><td>1.0000</td><td>9,474,931</td><td>502,171</td><td>5.3000</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$9,474,931</td><td>$502,171</td><td></td></tr></tbody></table>

## Equities & Options

## EQUITIES

The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: O = Outperform; P = Peer Perform; U = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available. The various providers use different ratings systems and have normalized them as follows: B = Buy; H = Hold; S = Sell (this may not always correspond directly to the underlying rating system used by each provider or BSC). The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal, or investment advice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons.

Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost. Customers can access this research at www.bearstearns.com or can call (800) 517-2327 to request that a copy of this research be sent to them.



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



STATEMENT PERIOD August 1, 2006



ACCOUNT NUMBER



| LAST STATEMENT | July 31, 2006 |

| :--- | :--- |

TAXPAYER NUMBER On File

FINANCIAL TRUST COMPANY INC

| THROUGH | August 31, 2006 |

| :--- | :--- |

<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>APPLE COMPUTER INC<br>BSC RATING: STOCK O/SECTOR MW<br>BOYAR&#39;S ALTERNATIVE VIEWPOINT<br>RATING: S</td><td>AAPL</td><td>CASH</td><td>120,000</td><td>67.8500</td><td>8,142,000</td><td></td><td></td></tr><tr><td>BEAR STEARNS COMPANIES INC</td><td>BSC</td><td>CASH</td><td>130,000</td><td>130.3500</td><td>16,945,500</td><td>145,600</td><td>0.8592</td></tr><tr><td>CHOICEPOINT INC</td><td>CPS</td><td>CASH</td><td>100,000</td><td>36.1500</td><td>3,615,000</td><td></td><td></td></tr></tbody></table>

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BEAR
STEARNS


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



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY



5 of 7

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

Equities & Options (continued)

## Your Portfolio Holdings (continued)

<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>COLGATE PALMOLIVE CO<br>BSC RATING: STOCK O/SECTOR MW<br>BUCKINGHAM RESEARCH RATING: H</td><td>CL</td><td>CASH</td><td>56,200</td><td>59.8600</td><td>3,364,132</td><td>71,936</td><td>2.1383</td></tr><tr><td>DEERFIELD TRIARC CAP CORP<br>ACCREDITED INVESTORS</td><td></td><td>CASH</td><td>1,000,000</td><td>13.2600</td><td>13,260,000</td><td></td><td></td></tr><tr><td>ENVIRONMENTAL SOLUTIONS<br>WORLDWIDE INC</td><td>ESWW</td><td>CASH</td><td>100,000</td><td>0.5600</td><td>56,000</td><td></td><td></td></tr><tr><td>KERZNER INTERNATIONAL LTD<br>BSC RATING: STOCK P/SECTOR MW<br>NED DAVIS RESEARCH RATING: B</td><td>KZL</td><td>CASH</td><td>10,000</td><td>80.8700</td><td>808,700</td><td></td><td></td></tr><tr><td>VECTOR GROUP LTD</td><td>VGR</td><td>CASH</td><td>159,589</td><td>17.2700</td><td>2,756,102</td><td>255,342</td><td>9.2646</td></tr><tr><td>WYNN RESORTS LTD<br>BSC RATING: STOCK O/SECTOR MW<br>WALL STREET STRATEGIES<br>RATING: B</td><td>WYNN</td><td>CASH</td><td>10,000</td><td>77.4100</td><td>774,100</td><td></td><td></td></tr><tr><td>Total Equities&amp; Options</td><td></td><td></td><td></td><td></td><td>$49,721,534</td><td>$472,878</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$49,721,534</td><td>$472,878</td><td></td></tr></tbody></table>

FINANCIAL TRUST COMPANY INC

STATEMENT PERIOD August 1, 2006



ACCOUNT NUMBER



THROUGH August 31, 2006

| LAST STATEMENT | July 31, 2006 |

| :--- | :--- |

TAXPAYER NUMBER On File

<table border="1"><tr><td>YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME</td><td>$975,049</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$59,196,465</td></tr></table>

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BEAR
STEARNS


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



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY



6 of 7



Bear, Steams Securities Corp.

One Metrotech Center North Brooklyn, New York 11201-3859



FINANCIAL TRUST COMPANY INC



Transaction Detail


## DEPOSITS AND WITHDRAWALS

STATEMENT PERIOD August 1, 2006

THROUGH August 31, 2006



ACCOUNT NUMBER



<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>08/17/06</td><td>FND WIRED</td><td>MDA# FNDS WIRED TO JPMORGAN CHASE BANK, NA</td><td>93,928.09</td><td></td></tr><tr><td>08/21/06</td><td>FND WIRED</td><td>MDA# NDS WIRED TO CITIBANK, NA</td><td>1,010,000.00</td><td></td></tr><tr><td colspan="3">TOTAL</td><td>-$-1,103,928.09</td><td></td></tr></tbody></table>

TAXPAYER NUMBER On File

| LAST STATEMENT | July 31, 2006 |

| :--- | :--- |

## 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>08/01/06</td><td></td><td>OPENINGBALANCE</td><td></td><td>10,130,113.78</td><td></td><td></td><td></td></tr></tbody></table>

<table border="1"><tr><td>08/01/06</td><td>DIVIDEND</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES MONTHLY DIVIDEND</td><td>DICXX</td><td></td><td></td><td></td><td>50,760.87</td></tr><tr><td>08/01/06</td><td>REINVEST</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVEST</td><td>DICXX</td><td>50,760.87</td><td></td><td>50,760.87</td><td></td></tr><tr><td>08/15/06</td><td>BOUGHT</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICXX</td><td>17,984</td><td>1.0000</td><td>17,984.00</td><td></td></tr><tr><td>08/17/06</td><td>SOLD</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICXX</td><td>-93,928.09</td><td>1.0000</td><td></td><td>93,928.09</td></tr><tr><td>08/21/06</td><td>SOLD</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICXX</td><td>-1,010,000</td><td>1.0000</td><td></td><td>1,010,000.00</td></tr><tr><td>08/28/06</td><td>BOUGHT</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICXX</td><td>380,000</td><td>1.0000</td><td>380,000.00</td><td></td></tr></table>

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BEAR
STEARNS


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



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY





Bear, Steams Securities Corp.

One Metratech Center North

Brooklyn, New York 11201-3859



FINANCIAL TRUST COMPANY INC

<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>08/31/06</td><td colspan="2">CLOSINGBALANCE</td><td colspan="2">9,474,930.56</td><td></td><td></td><td></td></tr><tr><td>TOTAL</td><td colspan="5"></td><td>-$448,744.87</td><td>$1,154,688.96</td></tr></tbody></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>08/15/06</td><td>COLGATE PALMOLIVE CO<br>REC 07/26/06 PAY 08/15/06</td><td>CL</td><td>56,200</td><td>0.3200</td><td></td><td>17,984.00</td></tr><tr><td>08/28/06</td><td>DEERFIELD TRIARC CAP CORP<br>ACCREDITED INVESTORS<br>REC 08/04/06 PAY 08/28/06</td><td></td><td>1,000,000</td><td>0.3800</td><td></td><td>380,000.00</td></tr><tr><td colspan="6">TOTAL</td><td>$397,984.00</td></tr></tbody></table>





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


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