## Statements

EFTA00197160

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

Transaction Detail ... 2

Your Messages ... 3







FINANCIAL TRUST CO INC

C/O JEFFREY EPSTEIN &

6100 RED HOOK QUARTER STE B3

ST THOMAS VI 00802





CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY


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>1,628,951.45</td></tr><tr><td>Dividends/Interest</td><td>24,679.06</td></tr><tr><td>Amount Credited</td><td>$1,653,630.51</td></tr><tr><td>Miscellaneous</td><td>-1,653,630.51</td></tr><tr><td>Amount Debited</td><td>$-1,653,630.51</td></tr><tr><td>ClosingBalance</td><td>$0.00</td></tr></table>



Bear, Steams Securities Corp.

One Metrotech Center North Brooklyn, New York 11201-3859



Income Summary

| LAST STATEMENT | June 27, 2003 |

| :--- | :--- |

FINANCIAL TRUST CO INC

TAXPAYER NUMBER Not Available

ACCOUNT NUMBER

STATEMENT PERIOD November 29, 2003

THROUGH December 31, 2003

<table border="1"><tr><td></td><td>THIS PERIOD</td><td>YEAR TO DATE</td></tr><tr><td>Corp.Bond Int.</td><td>24,679.06</td><td>24,679.06</td></tr><tr><td>Total</td><td>$24,679.06</td><td>$24,679.06</td></tr><tr><td>Bond Purchase Int.</td><td>0.00</td><td>-19,175.33</td></tr></table>

If any information regarding 2003 interest, 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 February 2, 2004 or a 1042S by March 15, 2004.

| 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 | 01/01/04;13:24 001 |

V818

EFTA00197161



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 4

FINANCIAL TRUST CO INC



Transaction Detail


STATEMENT PERIOD November 29, 2003

INVESTMENT ACTIVITY

THROUGH December 31, 2003

<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>12/04/03</td><td>12/01/03</td><td>SOLD</td><td>FANNIE MAE CMO/SERIES 2002-82<br>SK-I/O FLTR<br>DUE 10/25/2031 06.931%<br>REF # AS OF 12/01/03</td><td>31392FS73</td><td>-2,848,439</td><td>11.43750</td><td></td><td>325,790.29</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td>ACCR. INT.</td><td></td><td>4,935.81</td></tr><tr><td>12/04/03</td><td>12/01/03</td><td>SOLD</td><td>FANNIE MAE CMO/SERIES 2002-82<br>SK-I/O FLTR<br>DUE 10/25/2031 06.931%<br>REF # AS OF 12/01/03</td><td>31392FS73</td><td>-3,560,549</td><td>11.43750</td><td></td><td>407,237.86</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td>ACCR. INT.</td><td></td><td>6,169.77</td></tr><tr><td>12/04/03</td><td>12/01/03</td><td>SOLD</td><td>FANNIE MAE CMO/SERIES 2002-82<br>SK-I/O FLTR<br>DUE 10/25/2031 06.931%<br>REF # AS OF 12/01/03</td><td>31392FS73</td><td>-7,833,209</td><td>11.43750</td><td></td><td>895,923.30</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td>ACCR. INT.</td><td></td><td>13,573.48</td></tr><tr><td>12/04/03</td><td></td><td>RECEIVED</td><td>FANNIE MAE CMO/SERIES 2002-82<br>SK-I/O FLTR<br>6,931 DUE 10/25/31<br>DUE 10/25/2031 6.931</td><td>31392FS73</td><td>2,848,439</td><td></td><td>330,726.10</td><td></td></tr><tr><td>12/04/03</td><td></td><td>RECEIVED</td><td>FANNIE MAE CMO/SERIES 2002-82<br>SK-I/O FLTR<br>6,931 DUE 10/25/31<br>DUE 10/25/2031 6.931</td><td>31392FS73</td><td>3,560,549</td><td></td><td>413,407.63</td><td></td></tr><tr><td>12/04/03</td><td></td><td>RECEIVED</td><td>FANNIE MAE CMO/SERIES 2002-82<br>SK-I/O FLTR<br>6,931 DUE 10/25/31<br>DUE 10/25/2031 6.931</td><td>31392FS73</td><td>7,833,209</td><td></td><td>909,496.78</td><td></td></tr><tr><td colspan="6">TOTAL</td><td></td><td>-$1,653,630.51</td><td>$1,653,630.51</td></tr></tbody></table>

027



01/01/04;13:24 001


EFTA00197162



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

3 of 4

## Your messages



<thead><tr><th>Process SIPC Account Protection Update</th></tr></thead><tbody><tr><td>SIPC Account Protection Update</td></tr></tbody></table>

Bear, Stearns Securities Corp. ("BSSC"), a member of the Securities Investor Protection Corporation ("SIPC"), provides account protection for the net equity of a customer's funds and securities positions. SIPC provides $500,000 of primary net equity protection, including $100,000 for claims for cash ("SIPC Coverage"). Visit www.sipc.org for more information about SIPC Coverage. BSSC provides the additional protection ("Excess SIPC") through a commercial insurer. Effective February 16, 2004, the commercial insurer for Excess SIPC will change to Customer Asset Protection Company ("CAPCO"), a licensed New York insurance company. Account protection applies when a SIPC member firm fails financially and is unable to meet its obligations to its securities customers, but does not apply to losses from the rise or fall in the market value of investments or to SIPC ineligible assets such as options, futures, foreign exchange transactions, or any investment contracts that are not registered as securities.



CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY





Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859





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


STATEMENT PERIOD November 29, 2003

FINANCIAL TRUST CO INC

THROUGH December 31, 2003

ACCOUNT NUMBER

TAXPAYER NUMBER Not Available

| LAST STATEMENT | June 27, 2003 |

| :--- | :--- |

| 01/01/04;13:24 | 001 | V818 |
| :--- | :--- | :--- |

EFTA00197163



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY


4 of 4

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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