## Statements

EFTA00197109



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

| ACCOUNT EXECUTIVE | GNMA GOVT BOND |

| :--- | :--- |

## What’s In This Statement

Financial Summary 1



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY


Transaction Detail ... 2





<table border="1"><tr><td>FINANCIAL TRUST CO INC</td></tr><tr><td>C/O JEFFREY EPSTEIN &amp;</td></tr><tr><td>6100 RED HOOK QUARTER STE B3</td></tr><tr><td>ST THOMAS VI 00802</td></tr></table>



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



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>Securities Sold</td><td>26,538,289.46</td></tr><tr><td>Dividends/Interest</td><td>34,252.63</td></tr><tr><td>Amount Credited</td><td>$26,572,542.09</td></tr><tr><td>Securities Bought</td><td>-25,699,218.75</td></tr><tr><td>Miscellaneous</td><td>-873,323.34</td></tr><tr><td>Amount Debited</td><td>$-26,572,542.09</td></tr><tr><td>Closing Balance</td><td>$0.00</td></tr></table>

TAXPAYER NUMBER Not Available

| LAST STATEMENT | November 29, 2002 |

| :--- | :--- |



ACCOUNT NUMBER



FINANCIAL TRUST CO INC

STATEMENT PERIOD November 30, 2002

THROUGH December 31, 2002

Income Summary

<table><thead><tr><th></th><th>THIS PERIOD</th><th>YEAR TO DATE</th></tr></thead><tbody><tr><td>Govt. Agency Int.</td><td>26,838.51</td><td>35,120.22</td></tr><tr><td>Corp. Bond Int.</td><td>7,414.12</td><td>7,414.12</td></tr><tr><td>Total</td><td>$34,252.63</td><td>$42,534.34</td></tr><tr><td>Bond Purchase Int.</td><td>0.00</td><td>-169,671.73</td></tr></tbody></table>

## Important Message

If any information regarding 2002interest, dividends, miscellaneous income, gross proceeds or original issue discount is required to be reported to the IRS for this account, a Consolidated Form 1099 will be mailed to you by January 31,2003 or a 1042Sby March 17,2003.

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.

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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
CLEARLY WOUNDED SUBSIDIARY



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



2 of 5



FINANCIAL TRUST CO INC



Transaction Detail


STATEMENT PERIOD November 30, 2002

## INVESTMENT ACTIVITY

THROUGH December 31, 2002



ACCOUNT NUMBER



TAXPAYER NUMBER Not Available

| LAST STATEMENT | November 29, 2002 |

| :--- | :--- |

<table><thead><tr><th>SEEMENT DATE</th><th>TRADE DATE</th><th>TRANSACTION</th><th>DESCRIPTION</th><th>SYMBOL/CUSP</th><th>QUANTITY</th><th>PRICE</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>12/12/02</td><td>11/14/02</td><td>CANCEL SELL</td><td>FNMA-30YR(FNMA)GTD SETT,12/02 DUE 12/01/2031 06.000% REF # BS WEB AS OF 11/14/02 TO CAL PREVIOUS SELL</td><td></td><td>25,000,000</td><td>102.79688</td><td>25,699,218.75</td><td></td></tr><tr><td>12/12/02</td><td>11/14/02</td><td>SOLD</td><td>FNMA-30YR(FNMA)GTD SETT,12/02 DUE 12/01/2031 06.000% REF # BS WEB</td><td></td><td>-25,000,000</td><td>102.79688</td><td>25,699,218.75</td><td></td></tr><tr><td>12/19/02</td><td>12/16/02</td><td>SOLD</td><td>FANNIE MAE REMIC TRUST CMO/SERIES 1994-18 SB-UO FLTR DUE 02/25/2024 00.400% REF # BS AS OF 12/16/02</td><td></td><td>-14,378,099</td><td>0.71875 ACCR. INT.</td><td>103,342.59 834.16</td><td></td></tr><tr><td>12/19/02</td><td>12/16/02</td><td>SOLD</td><td>FEDERAL NATL MTG ASSN GTD REMIC PASS THRU CTF TR 1996-45 CL SB DUE 01/25/2024 00.750% REF # BS AS OF 12/16/02</td><td></td><td>-13,083,744</td><td>1.20313 ACCR. INT.</td><td>157,413.80 6,541.87</td><td></td></tr><tr><td>12/19/02</td><td>12/16/02</td><td>SOLD</td><td>FANNIE MAE REMIC TRUST CMO/SERIES 1996-45 SA-UO FLTR DUE 01/25/2024 00.850% REF # BS AS OF 12/16/02</td><td></td><td>-13,083,744</td><td>1.39063 ACCR. INT.</td><td>181,945.82 7,414.12</td><td></td></tr><tr><td>12/19/02</td><td>12/16/02</td><td>SOLD</td><td>FEDERAL NATL MTG ASSN GTD REMIC PASS THRU CTF SER 1997-G2 CL SC DUE 03/25/2024 01.000% REF # BS AS OF 12/16/02</td><td></td><td>-11,832,955</td><td>1.51563 ACCR. INT.</td><td>179,343.24 7,888.64</td><td></td></tr><tr><td>12/19/02</td><td>12/16/02</td><td>SOLD</td><td>FEDERAL NATL MTG ASSN GTD REMIC PASS THRU CITPS TR 1997-53 CL SC-FRN DUE 12/25/2023 01.000% REF # BS AS OF 12/16/02</td><td></td><td>-7,329,768</td><td>1.68750 ACCR. INT.</td><td>123,689.84 4,886.51</td><td></td></tr></tbody></table>

027



01/01/03;10:04 001


EFTA00197111



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


FINANCIAL TRUST CO INC

## **Transaction Detail** (continued)

STATEMENT PERIOD November 30, 2002

## INVESTMENT ACTIVITY (continued)

THROUGH December 31, 2002



ACCOUNT NUMBER



TAXPAYER NUMBER Not Available

| LAST STATEMENT | November 29, 2002 |

| :--- | :--- |

<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>12/19/02</td><td>12/16/02</td><td>SOLD</td><td>FEDERAL NATL MTG ASSN GTD<br>REMIC PASS THRU TR 1997-66<br>CL SA FLTR<br>DUE 12/25/2023 01,000%<br>REF #<br>AS OF 12/16/02</td><td></td><td>-5,530,988</td><td>1.68750<br>ACCR. INT.</td><td></td><td>93,335.42<br>1,687.33</td></tr><tr><td>12/19/02</td><td></td><td>RECEIVED</td><td>FANNIE MAE REMIC TRUST<br>CMO/SERIES 1994-18 SB-I/O FLTR<br>0,400 DUE 02/25/24<br>DUE 02/25/2024</td><td></td><td>14,378,099</td><td></td><td>107,176.75</td><td></td></tr><tr><td>12/19/02</td><td></td><td>RECEIVED</td><td>FEDERAL NATL MTG ASSN GTD<br>REMIC PASS THRU CTF TR 1996-45<br>0,750 DUE 01/25/24<br>CL SB<br>DUE 01/25/2024</td><td></td><td>13,083,744</td><td></td><td>163,955.67</td><td></td></tr><tr><td>12/19/02</td><td></td><td>RECEIVED</td><td>FANNIE MAE REMIC TRUST<br>CMO/SERIES 1996-45 SA-I/O FLTR<br>0,850 DUE 01/25/24<br>DUE 01/25/2024</td><td></td><td>13,083,744</td><td></td><td>189,359.94</td><td></td></tr><tr><td>12/19/02</td><td></td><td>RECEIVED</td><td>FEDERAL NATL MTG ASSN GTD<br>REMIC PASS THRU CTF<br>1,000 DUE 03/25/24<br>SER 1997-G2 CL SC<br>DUE 03/25/2024</td><td></td><td>11,832,955</td><td></td><td>187,231.88</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
CLEARLY WOUNDED SUBSIDIARY



Bear, Steams Securities Corp.

One Metratech Center North

Brooklyn, New York 11201-3859

4 of 5

FINANCIAL TRUST CO INC

## **Transaction Detail** (continued)

STATEMENT PERIOD November 30, 2002

## INVESTMENT ACTIVITY (continued)

<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>12/19/02</td><td></td><td>RECEIVED</td><td>FEDERAL NATL MTG ASSN GTD<br>REMIC PASSTHRU CTFS TR 1997-53<br>1,000 DUE 12/25/23<br>CL SC-FRN<br>DUE 12/25/2023</td><td></td><td>7,329,768</td><td></td><td>128,576.35</td><td></td></tr><tr><td>12/19/02</td><td></td><td>RECEIVED</td><td>FEDERAL NATL MTG ASSN GTD<br>REMIC PASSTHRU TR 1997-66<br>1,000 DUE 12/25/23<br>CL SA FLTR<br>DUE 12/25/2023</td><td></td><td>5,530,988</td><td></td><td>97,022.75</td><td></td></tr><tr><td colspan="6">TOTAL</td><td></td><td>-26,572.542.09</td><td>$26,572.542.09</td></tr></tbody></table>





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


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CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY


**5 of 5**

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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