EFTA00197147



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

| ACCOUNT EXECUTIVE | GNMA GOVT BOND |

| :--- | :--- |

FINANCIAL TRUST CO INC

What's In This Statement

STATEMENT PERIOD June 1, 2005





| Trades Not Yet Settled | 1 |

| :--- | :--- |

THROUGH June 30, 2005

AGCOUNT NUMBER

<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>

TAXPAYER NUMBER Not Available

| LAST STATEMENT | May 31, 2005 |

| :--- | :--- |

## 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>07/14/05</td><td>06/03/05</td><td>BOUGHT</td><td>FNMA 30YR TBA GTD<br>SETT, 07/05<br>DUE 07/01/2035_05_000%<br>REF #</td><td></td><td>15,000,000.00</td><td>100.2187</td><td>15,032,812.50</td><td></td></tr><tr><td>07/14/05</td><td>05/06/05</td><td>SOLD</td><td>FNMA 30YR TBA GTD<br>SETT, 07/05<br>DUE 07/01/2035_05_000%<br>REF #</td><td></td><td>-30,000,000.00</td><td>98.5195</td><td></td><td>29,555,859.38</td></tr><tr><td>07/14/05</td><td>06/03/05</td><td>SOLD</td><td>FNMA 30 YR GTD<br>SETT, 07/05<br>DUE 07/01/2035_06_000%<br>REF #</td><td></td><td>-50,000,000.00</td><td>102.7968</td><td></td><td>51,398,437.50</td></tr><tr><td colspan="8">TOTAL</td><td>$15.032,812.50</td><td>$80.954,296.88</td></tr></tbody></table>

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

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V893IP


EFTA00197148



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 CO INC

STATEMENT BACKER IS PRINTED ON THIS PAGE

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