EFTA00197194



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

<table><tr><td>ACCOUNT EXECUTIVE</td><td>GNMA GOVT BOND</td></tr><tr><td>VISIT OUR WEBSITE</td><td>www.bearstearns.com</td></tr></table>

What's In This Statement

Your Messages 2







CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



<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>

## Premise or Third Party Repurchase Agreements

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

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>01/30/03</td><td>OPEN</td><td>2,602,000</td><td>0.970</td><td>279</td><td>2,602,279.71</td></tr><tr><td colspan="4">TOTAL REPURCHASE TRANSACTIONS</td><td>$279</td><td>$2,602,279.71</td></tr></table>

*As of statement date*

FINANCIAL TRUST CO INC

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

TAXPAYER NUMBER Not Available

| LAST STATEMENT | December 31, 2002 |

| :--- | :--- |



ACCOUNT NUMBER



STATEMENT PERIOD January 1, 2003

THROUGH January 31, 2003

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.

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EFTA00197195



BEAR
STEARNS




OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179


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## Your messages



The interest, if any, charged to your account during December 2002 was computed on the net debit balance through December 30. The interest, if any, charged to your account during January 2003 is computed from December 31, 2002.



CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY





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





Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



FINANCIAL TRUST CO INC

STATEMENT PERIOD January 1, 2003

THROUGH January 31, 2003



ACCOUNT NUMBER



TAXPAYER NUMBER Not Available

| LAST STATEMENT | December 31, 2002 |

| :--- | :--- |

027



02/01/03;18:09 001


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EFTA00197196



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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EFTA00197197