EFTA00197286

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

Confirmation: Unless we hear from you to the contrary, it is our understanding that any free credit balances in your account are being maintained to facilitate your intention to invest such amounts through us.







FINANCIAL TRUST CO., INC

600 REDHOOK QUARTER STE B-3

ST THOMAS US

US VI 00802



CLEARANCE AGENT

Bear, Stearns Securities Corp.

One Metrotech Center North Brooklyn, New York 11201-3859

Equities & Options

EQUITIES

## Your Portfolio Holdings

<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>FRANKLIN BANK CORPCL A ACCREDITED INVS</td><td></td><td>CASH</td><td>100,000</td><td>Unpriced</td><td></td><td></td><td></td></tr><tr><td>Total Equities&amp;Options</td><td></td><td></td><td></td><td></td><td>$0</td><td>$0</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$0</td><td>$0</td><td></td></tr></table>

FINANCIAL TRUST CO., INC

STATEMENT PERIOD May 31, 2003

THROUGH June 27, 2003

AGCOUNT NUMBER

| LAST STATEMENT | March 28, 2003 |

| :--- | :--- |

TAXPAYER NUMBER On File



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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EFTA00197287

CLEARANCE AGENT

Bear, Steams Securities Corp.
One Metrotech Center North
Brooklyn, New York 11201-3859



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FINANCIAL TRUST CO., INC

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