EFTA00197157



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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



CLEARED THROUGH ITS

WHOLLED NUBSDIARY



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 March 1, 2005

| Trades Not Yet Settled | 1 |

| :--- | :--- |

THROUGH March 31, 2005



FINANCIAL TRUST CO INC

C/O JEFFREY EPSTEIN &

6100 RED HOOK QUARTER STE B3

ST THOMAS VI 00802



ACCOUNT NUMBER

TAXPAYER NUMBER Not Available

| LAST STATEMENT | October 29, 2004 |

| :--- | :--- |

## 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>04/13/05</td><td>03/09/05</td><td>SOLD</td><td>FNMA 30YR GTD<br>SETT, 04/05<br>DUE 04/01/2035.05.000%<br>REF #<br>AS OF 03/09/05</td><td></td><td>-20,000,000.00</td><td>97.9921</td><td></td><td>19,598,437.50</td></tr><tr><td>04/13/05</td><td>03/16/05</td><td>BOUGHT</td><td>FNMA 30YR GTD<br>SETT, 04/05<br>DUE 04/01/2035.05.500%<br>REF #</td><td></td><td>5,000,000.00</td><td>100.2656</td><td>5,013,281.25</td><td></td></tr><tr><td colspan="6">TOTAL</td><td></td><td>$5,013,281.25</td><td>$19,598,437.50</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.

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EFTA00197158



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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EFTA00197159