EFTA00197236

OFFICE SERVICING YOUR ACCOUNT
Bear,Stearns International LTD
Regulated by the Security &
Futures Authority
1 Canada Square
London E14 5AD England
0207 516 6614

| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | ZICHERMAN, IRA |

| TELEPHONE | |

| VISIT OUR WEBSITE | www.bearstearns.com |

## What’s In This Statement

<table><tr><td>Financial Summary</td><td>3</td></tr><tr><td>Your Portfolio Holdings</td><td>4</td></tr><tr><td>Transaction Detail</td><td>4</td></tr></table>





<table border="1"><tr><td>FINANCIAL TRUST COMPANY</td></tr><tr><td>C/O AMERICAN YACHT HARBOR</td></tr><tr><td>6100 RED HOOK QUARTER</td></tr><tr><td>SUITE B-3</td></tr><tr><td>ST THOMAS VI 00802</td></tr></table>

## FINANCIAL TRUST COMPANY

TAXPAYER NUMBER Not Available



ACCOUNT NUMBER



| LAST STATEMENT | December 31, 2001 |

| :--- | :--- |

STATEMENT PERIOD January 1, 2002

## Your Portfolio at a Glance

THROUGH January 25, 2002

There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account.

<table border="1"><tr><td>TOTAL VALUE OF SECURITIES THIS PERIOD</td><td>22,227,500</td></tr><tr><td>NET CREDIT BALANCE</td><td>64,418</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$22,291,918</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>23,383,103</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>-1,091,185</td></tr></table>

Market Value of Your Portfolio

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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FINANCIAL TRUST COMPANY



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STATEMENT BACKER IS PRINTED ON THIS PAGE

EFTA00197238



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear,Stearns International LTD
Regulated by the Security &
Futures Authority
1 Canada Square
London E14 5AD England
0207 516 6614

3 of 5

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$8,102.63</td></tr><tr><td>Securities Sold</td><td>27,166,397.07</td></tr><tr><td>Dividends/Interest</td><td>566.52</td></tr><tr><td>Miscellaneous</td><td>840,694.49</td></tr><tr><td>Amount Credited</td><td>$28,007,658.08</td></tr><tr><td>Securities Bought</td><td>-27,943,240.00</td></tr><tr><td>Miscellaneous</td><td>-8,102.63</td></tr><tr><td>Amount Debited</td><td>$-27,951,342.63</td></tr><tr><td>Net Cash Activity</td><td>56,315.45</td></tr><tr><td>Closing Balance</td><td>$64,418.08</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>8,102.63</td><td>-776,276.41</td></tr><tr><td>Margin</td><td>0.00</td><td>840,694.49</td></tr><tr><td>Net Cash Balance</td><td>$8,102.63</td><td>$64,418.08</td></tr></table>

Income Summary

<table border="1"><tr><td></td><th>THIS PERIOD</th><th>YEAR TO DATE</th></tr><tr><td>Credit Balance Int.</td><td>566.52</td><td>566.52</td></tr><tr><td>Total</td><td>$566.52</td><td>$566.52</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>64,418</td></tr><tr><td>Equities</td><td>22,227,500</td></tr><tr><td>Total</td><td>$22,291,918</td></tr></table>

## FINANCIAL TRUST COMPANY

| STATEMENT PERIOD | January 1, 2002 |
| :--- | :--- |
| THROUGH | January 25, 2002 |



ACCOUNT NUMBER



TAXPAYER NUMBER Not Available

| LAST STATEMENT | December 31, 2001 |

| :--- | :--- |

Your Portfolio Allocation



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Unshaded portions denote debit balance and/or short market values. The allocation percentage is derived from the absolute market value of your portfolio.

EFTA00197239



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear,Stearns International LTD
Regulated by the Security &
Futures Authority
1 Canada Square
London E14 5AD England
0207 516 6614

4 of 5

## Your Portfolio Holdings

CASH & CASH EQUIVALENTS

<table><thead><tr><th>DESCRIPTION</th><th>SYMBOL/CUSIP</th><th>QUANTITY</th><th>PRICE</th><th>MARKET VALUE</th><th>ESTIMATED ANNUAL INCOME</th><th>CURRENT YIELD (%)</th></tr></thead><tbody><tr><td>CASH BALANCE</td><td></td><td></td><td></td><td>64,418</td><td></td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$64,418</td><td></td><td></td></tr></tbody></table>

## EQUITIES

Equities & Options

<table border="1"><tr><td>DESCRIPTION</td><td>SYMBOL/CUSIP</td><td>ACCT TYPE</td><td>QUANTITY</td><td>PRICE</td><td>MARKET VALUE</td><td>ESTIMATED ANNUAL INCOME</td><td>CURRENT YIELD(%)</td></tr><tr><td>TOO INC</td><td>TOO</td><td>CASH</td><td>850,000</td><td>26.1500</td><td>22,227,500</td><td></td><td></td></tr><tr><td>Total Equities&amp;Options</td><td></td><td></td><td></td><td></td><td>$22,227,500</td><td>$0</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$22,227,500</td><td>$0</td><td></td></tr></table>

<table border="1"><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$22,291,918</td></tr></table>

FINANCIAL TRUST COMPANY

STATEMENT PERIOD January 1, 2002

THROUGH January 25, 2002

## INVESTMENT ACTIVITY



ACCOUNT NUMBER



| LAST STATEMENT | December 31, 2001 |

| :--- | :--- |



Transaction Detail


TAXPAYER NUMBER Not Available

<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>01/08/02</td><td></td><td>JOURNAL</td><td>CALL AT&amp;T CORP<br>EXP 01/19/2002<br>TO</td><td>JAN17.50****</td><td>0019579A9</td><td>-7,540</td><td></td><td></td></tr></tbody></table>

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EFTA00197240



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear,Stearns International LTD
Regulated by the Security &
Futures Authority
1 Canada Square
London E14 5AD England
0207 516 6614

**5 of 5**

FINANCIAL TRUST COMPANY

STATEMENT PERIOD January 1, 2002

## **Transaction Detail** (continued)

THROUGH January 25, 2002

## INVESTMENT ACTIVITY (continued)

TAXPAYER NUMBER Not Available

| LAST STATEMENT | December 31, 2001 |

| :--- | :--- |

<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>01/23/02</td><td></td><td>JOURNAL</td><td>AT&amp;T CORP VS PER FRANK 1384</td><td>T</td><td>-754,000</td><td></td><td></td><td>13,971,620.00</td></tr><tr><td>01/23/02</td><td></td><td>EXPIRED</td><td>CALL AT&amp;T CORP JAN17.50**** EXP 01/19/2002</td><td>0019579A9</td><td>7,540</td><td></td><td></td><td></td></tr><tr><td>01/24/02</td><td>01/18/02</td><td>BOUGHT</td><td>AT&amp;T CORP AS OF 01/18/02</td><td>T</td><td>754,000</td><td>18.53000</td><td>13,971,620.00</td><td></td></tr><tr><td>01/24/02</td><td></td><td>JOURNAL</td><td>AT&amp;T CORP MOVE ASSIGNMENT</td><td>T</td><td>-754,000</td><td></td><td></td><td>13,194,777.07</td></tr><tr><td>01/24/02</td><td></td><td>JOURNAL</td><td>AT&amp;T CORP REV SPO IC ENTRY 1/23</td><td>T</td><td>754,000</td><td></td><td>13,971,620.00</td><td></td></tr><tr><td colspan="6">TOTAL</td><td></td><td>-27,943,240.00</td><td>$27,166,397.07</td></tr></tbody></table>



INTEREST


<table><thead><tr><th>DATE</th><th>DESCRIPTION</th><th>SYMBOL/CUSIP</th><th>QUANTITY</th><th>RATE (%)</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>01/22/02</td><td>INTEREST ON CREDIT BALANCE FIN TRUST CASH COLLAT IN 2001-12-20 TO 2002-01-21</td><td></td><td></td><td></td><td></td><td>566.52</td></tr><tr><td colspan="7">TOTAL</td><td>$566.52</td></tr></tbody></table>

## MISCELLANEOUS

<table><thead><tr><th>DATE MO/DAY</th><th>TRANSACTION</th><th colspan="2">DESCRIPTION</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>01/03/02</td><td>JOURNAL</td><td>JRL TO</td><td>INTX'S</td><td>8,102.63</td><td></td></tr><tr><td>01/08/02</td><td>JOURNAL</td><td>TO</td><td></td><td></td><td>840,694.49</td></tr><tr><td>TOTAL</td><td></td><td></td><td></td><td>-8,102.63</td><td>$840,694.49</td></tr></tbody></table>

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EFTA00197241