EFTA00197189



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | GNMA GOVT BOND |

| VISIT OUR WEBSITE | www.bearstearns.com |







CLEARED THROUGH ITS

WHOLLED NUBSDIARY



<table border="1"><tr><td>FINANCIAL TRUST CO INC</td></tr><tr><td>C/O JEFFREY EPSTEIN</td></tr><tr><td>6100 RED HOOK QUARTER</td></tr><tr><td>SUITE 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

## Premise or Third Party Repurchase Agreements

with Bear, Stearnsand Co. Inc. outstanding as of date of statement

<table border="1"><tr><td>PURCHASE/START DATE</td><td>REPURCHASE/END DATE</td><td>PURCHASE PRICE/PRINCIPAL</td><td>PRICINGRATE</td><td>REPO/ACCRUEDINTEREST*</td><td>NET AMOUNT</td></tr><tr><td>04/17/03</td><td>OPEN</td><td>1,950,000</td><td>0.870</td><td>525</td><td>1,950,525.96</td></tr><tr><td colspan="4">TOTAL REPURCHASE TRANSACTIONS</td><td>$525</td><td>$1,950,525.96</td></tr></table>

FINANCIAL TRUST CO INC

| STATEMENT PERIOD | March 29, 2003 |

| :--- | :--- |

| THROUGH | April 25, 2003 |

| LAST STATEMENT | March 28, 2003 |

| :--- | :--- |

TAXPAYER NUMBER Not Available

*As of statement date*

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





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



Please report any difference or non-receipt of checks or stocks, indicated as delivered to you, to Client Services at 800-634-1428; or write to Client Services at Bear, Steams Securities Corp., One Metrotech Center North, Brooklyn, N.Y. 11201-3859.

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 04/26/03;14:23 001

V643

EFTA00197190



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

027