EFTA00197214



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>





<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>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



## Premise or Third Party Repurchase Agreements with Bear, Stearns& Co.Inc.outstanding as of date of statement

<table><thead><tr><th>PURCHASE/ START DATE</th><th>REPURCHASE/ END DATE</th><th>PURCHASE PRICE/ PRINCIPAL</th><th>PRICING RATE</th><th>REPO/ ACCRUED INTEREST*</th><th>NET AMOUNT</th></tr></thead><tbody><tr><td>07/26/02</td><td>OPEN</td><td>24,769,345.91</td><td>1.380000</td><td>2,848.47</td><td>24,772,194.38</td></tr><tr><td colspan="5">TOTAL REPURCHASE AGREEMENTS</td><td>$24,772,194.38</td></tr></tbody></table>

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

*As of statement date*

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

LAST STATEMENT

FINANCIAL TRUST CO INC





TAXPAYER NUMBER Not Available

| STATEMENT PERIOD | June 29, 2002 |

| :--- | :--- |

| THROUGH | July 26, 2002 |



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



ACCOUNT NUMBER

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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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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