## Statements

EFTA00197300

OFFICE SERVICING YOUR ACCOUNT

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



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | ZICHERMAN, IRA |

| TELEPHONE | |

| VISIT OUR WEBSITE | www.bearstearns.com |

<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>5</td></tr><tr><td>Fund Activity</td><td>5</td></tr><tr><td>Your Messages</td><td>6</td></tr></table>

## What’s In This Statement





# HEALTH & SCIENCE INTERESTS II

TRUST JEFFREY E EPSTEIN

DTD 8/18/93

6100 RED HOOK QUARTER STE B-3

ST THOMAS VI 00802

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

HEALTH & SCIENCE INTERESTS II



ACCOUNT NUMBER



STATEMENT PERIOD December 1, 2001

THROUGH December 31, 2001

TAXPAYER NUMBER On File

| LAST STATEMENT | November 30, 2001 |

| :--- | :--- |

Your Portfolio at a Glance

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>10,304,000</td></tr><tr><td>NET CREDIT BALANCE</td><td>34,975</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>6,933,775</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$17,272,750</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>20,113,920</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>-2,841,170</td></tr></table>

Market Value of Your Portfolio

## Important Message

If any information regarding 2001 interest, dividends, miscellaneous income, gross proceeds or original issue discount is required to be reported to the IRS for this account, a Consolidated Form 1099 will be mailed to you by January 31, 2002 or 1042S by March 15, 2002.

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

STATEMENT BACKER IS PRINTED ON THIS PAGE

HEALTH & SCIENCE INTERESTS II

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EFTA00197302



BEAR
STEARNS


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

3 of 6

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$56,333.59</td></tr><tr><td>Money Fund</td><td>3,420,188.84</td></tr><tr><td>Dividends/Interest</td><td>52,571.97</td></tr><tr><td>Amount Credited</td><td>$3,472,760.81</td></tr><tr><td>Money Fund</td><td>-20,188.84</td></tr><tr><td>Miscellaneous</td><td>-3,473,931.00</td></tr><tr><td>Amount Debited</td><td>$-3,494,119.84</td></tr><tr><td>Net Cash Activity</td><td>-21,359.03</td></tr><tr><td>Closing Balance</td><td>$34,974.56</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>56,333.59</td><td>34,974.56</td></tr><tr><td>Net Cash Balance</td><td>$56,333.59</td><td>$34,974.56</td></tr></table>

Income Summary

<table border="1"><tr><td></td><td>THIS PERIOD</td><td>YEAR TO DATE</td></tr><tr><td>Dividends</td><td>72,688.84</td><td>383,439.65</td></tr><tr><td>Credit Balance Int.</td><td>71.97</td><td>12,136.14</td></tr><tr><td>Total</td><td>$72,760.81</td><td>$395,575.79</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>6,968,750</td></tr><tr><td>Equities</td><td>10,304,000</td></tr><tr><td>Total</td><td>$17,272,750</td></tr></table>

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

HEALTH & SCIENCE INTERESTS II

| STATEMENT PERIOD | December 1, 2001 |
| :--- | :--- |
| THROUGH | December 31, 2001 |



ACCOUNT NUMBER



TAXPAYER NUMBER On File

Your Portfolio Allocation

| LAST STATEMENT | November 30, 2001 |

| :--- | :--- |

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



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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

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## 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>34,975</td><td></td><td></td></tr><tr><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 2,1000%</td><td>DICCX</td><td>6,933,775.24</td><td>1.0000</td><td>6,933,775</td><td>159,477</td><td>2.3000</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$6,968,750</td><td>$159,477</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>LIMITED INC</td><td>LTD</td><td>CASH</td><td>700,000</td><td>14.7200</td><td>10,304,000</td><td>210,000</td><td>2.0380</td></tr><tr><td>Total Equities&amp;Options</td><td></td><td></td><td></td><td></td><td>$10,304,000</td><td>$210,000</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$10,304,000</td><td>$210,000</td><td></td></tr></table>

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$369,477</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$17,272,749</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY





Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



## HEALTH & SCIENCE INTERESTS II

STATEMENT PERIOD December 1, 2001

THROUGH December 31, 2001

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | November 30, 2001 |

| :--- | :--- |

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V519

EFTA00197304



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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



CLEARED THROUGH ITS
CLEARLY WOUNDED SUBSIDIARY





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


**5 of 6**

HEALTH & SCIENCE INTERESTS II



Transaction Detail


STATEMENT PERIOD December 1, 2001

## MONEY FUND ACTIVITY

| LAST STATEMENT | November 30, 2001 |

| :--- | :--- |

<table><thead><tr><th>DATE MO/DAY</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>12/01/01</td><td></td><td>OPENINGBALANCE</td><td></td><td>10,313,586.40</td><td></td><td></td><td></td></tr></tbody></table>

<table><thead><tr><th></th><th>TRACTION</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>01/01</td><td></td><td>OPENINGBALANCE</td><td></td><td>10,313,586.40</td><td></td><td></td><td></td></tr><tr><td>12/03/01</td><td>DIVIDEND</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES MONTHLY DIVIDEND</td><td>DICCX</td><td></td><td></td><td></td><td>20,188.84</td></tr><tr><td>12/03/01</td><td>REINVEST</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED</td><td>DICCX</td><td>20,188.84</td><td></td><td>20,188.84</td><td></td></tr><tr><td>12/28/01</td><td>SOLD</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>-3,400,000</td><td>1.0000</td><td></td><td>3,400,000.00</td></tr><tr><td>12/31/01</td><td></td><td>CLOSINGBALANCE</td><td></td><td>6,933,775.24</td><td></td><td></td><td></td></tr><tr><td colspan="5">TOTAL</td><td></td><td>-20,188.84</td><td>$3,420,188.84</td></tr></tbody></table>

## DIVIDENDS

<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>12/18/01</td><td>LIMITED INC<br>REC 12/07/01 PAY 12/18/01</td><td>LTD</td><td>700,000</td><td>0.0750</td><td></td><td>52,500.00</td></tr><tr><td colspan="6">TOTAL</td><td>$52,500.00</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>12/21/01</td><td>INTEREST ON CREDIT BALANCE AT 1 1/4% 12/11 THRU 12/20</td><td></td><td></td><td>1.2500</td><td></td><td>25.03</td></tr></tbody></table>

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EFTA00197305



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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



CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY





Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



6 of 6

HEALTH & SCIENCE INTERESTS II

## **Transaction Detail** (continued)

STATEMENT PERIOD December 1, 2001



INTEREST (continued)



THROUGH December 31, 2001

AGCOUNT NUMBER

<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>12/21/01</td><td>INTEREST ON CREDIT BALANCE AT 1 1/2% 11/21 THRU 12/10</td><td></td><td></td><td>1.5000</td><td></td><td>46.94</td></tr><tr><td colspan="7">TOTAL</td><td>$71.97</td></tr></tbody></table>

TAXPAYER NUMBER On File

| LAST STATEMENT | November 30, 2001 |

| :--- | :--- |

## MISCELLANEOUS

<table><thead><tr><th>DATE MO/DAY</th><th>TRANSACTION</th><th>DESCRIPTION</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>12/31/01</td><td>JOURNAL</td><td>PER LOA</td><td>3,473,931.00</td><td></td></tr><tr><td colspan="3">TOTAL</td><td>-3,473,931.00</td><td></td></tr></tbody></table>

## Your messages



As part of the National Association of Securities Dealer's (NASD) Investor Education Program, you may obtain information on the NASD's Public Disclosure Program by contacting the NASD at telephone number (800) 289-9999 or via the internet address which is www.nasdr.com. In addition, a brochure explaining the Public Disclosure Program is available from the NASD upon request.





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


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