EFTA00197100



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 Metratech Center North

Brooklyn, New York 11201-3859



ACCOUNT EXECUTIVE  GNMA GOVT BOND



FINANCIAL TRUST CO INC

## What’s In This Statement





STATEMENT PERIOD September 1, 2004

<table border="1"><tr><td>Financial Summary</td><td>1</td></tr><tr><td>Trades Not Yet Settled</td><td>1</td></tr></table>

THROUGH September 30, 2004

ACCOUNT NUMBER



FINANCIAL TRUST CO INC

C/O JEFFREY EPSTEIN &

6100 RED HOOK QUARTER STE B3

ST THOMAS VI 00802



TAXPAYER NUMBER Not Available

| LAST STATEMENT | August 31, 2004 |

| :--- | :--- |

<table><thead><tr><th></th><th>THIS PERIOD</th><th>YEAR TO DATE</th></tr></thead><tbody><tr><td>Bond Purchase Int.</td><td>0.00</td><td>-104,957.59</td></tr></tbody></table>

Income Summary

## Trades Executed Pending Settlement

<table><thead><tr><th>SETTLEMENT DATE</th><th>TRADE DATE</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>10/14/04</td><td>09/22/04</td><td>BOUGHT</td><td>FNMA-30YR(FNMA)GTD<br>SETT, 10/04<br>DUE 10/01/2034_05.500%<br>REF #<br>AS OF 09/22/04</td><td>5A80009</td><td>10,000,000.00</td><td>101.8359</td><td>10,183,593.75</td><td></td></tr><tr><td colspan="6">TOTAL</td><td></td><td>$10,183,593.75</td><td>$0.00</td></tr></tbody></table>

The above trades do not appear in any other section of this statement.





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



| 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 | 10/01/04:08:36 001 |

V863

EFTA00197101



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY




2 of 2


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

FINANCIAL TRUST CO INC

STATEMENT BACKER IS PRINTED ON THIS PAGE

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