EFTA00197283 FRIEDMAN, BILLINGS, RAMSEY & CO., INC. OFFICE SERVICING YOUR ACCOUNT 1001 Nineteenth Street North Arlington, Virginia 22209-1722 Telephone (703) 312 9500 Fax (703) 312 9501 E-Mail info@fbr.com VISIT OUR WEBSITE www.fbr.com Important Message Your Brokerage Firm and Bear Stearns are pleased to announce the conversion to a calendar month-end statement. Effective this month, your account statement reflects all activity and account valuation up to and including the last business day of the month. CLEARANCE AGENT FINANCIAL TRUST CO., INC 600 REDHOOK QUARTER STE B-3 ST THOMAS US US VI 00802 Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 Equities & Options
DESCRIPTIONSYMBOL/CUSIPACCT TYPEQUANTITYPRICEMARKET VALUEESTIMATED ANNUAL INCOMECURRENT YIELD(%)
FRANKLIN BANK CORPCL A ACCREDITED INVSCASH100,000Unpriced
Total Equities&Options$0$0
TOTAL EQUITIES$0$0
## Your Portfolio Holdings EQUITIES FINANCIAL TRUST CO., INC STATEMENT PERIOD August 30, 2003 THROUGH September 30, 2003 ACCOUNT NUMBER TAXPAYER NUMBER On File | LAST STATEMENT | June 27, 2003 | | :--- | :--- | | 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 | 10/01/03:15:17 001 | V813 EFTA00197284 FRIEDMAN, BILLINGS, RAMSEY & CO., INC. CLEARANCE AGENT OFFICE SERVICING YOUR ACCOUNT 1001 Nineteenth Street North Arlington, Virginia 22209-1722 Telephone (703) 312 9500 Fax (703) 312 9501 E-Mail info@fbr.com Bear, Stearns Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 2 of 3 FINANCIAL TRUST CO., INC STATEMENT PERIOD August 30, 2003 Bear, Stearns Securities Corp. Net Capital and Net Capital Requirements: ## Your messages THROUGH September 30, 2003 AGCOUNT NUMBER A complete copy of the Bear, Stearns Securities Corp. Statement of Financial Condition is available on the web site www.bsscfinancialstatement.com. Alternatively, to request a free printed copy please call - toll free 1-866-299-9331. TAXPAYER NUMBER On File At May 31, 2003 and July 31, 2003, the Company's net capital of approximately $2.4 billion and $3.0 billion was approximately 6% and 7% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately $799.5 million and $904.4 million by approximately $1.6 billion and $2.1 billion, all respectively. | LAST STATEMENT | June 27, 2003 | | :--- | :--- | Securities and other assets in your account are the firm's collateral for any margin loan made to you. If the securities and other assets in your account decline in value, so does the value of the collateral supporting your loan, and, as a result, the firm can take action, such as issue a margin call and/or sell securities or other assets in any of your accounts held with the member, in order to maintain the required equity in the account. It is important that you fully understand the risks involved in trading securities on margin. These risks include the following: - You can lose more funds than you deposit in the margin account, - The firm can force the sale of securities or other assets in you account(s). - The firm can sell your securities or other assets without contacting you. - You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold to meet a margin call. - The firm can increase its "house" maintenance margin requirements at any time and is not required to provide you advance written notice. - You are not entitled to an extension of time on a margin call. STOP ******* End of Statement******* 027 10/01/03;15:17 001 EFTA00197285 CLEARANCE AGENT Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 3 of 3 FINANCIAL TRUST CO., INC STATEMENT BACKER IS PRINTED ON THIS PAGE 027