EFTA00197324

OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.
245 Park Avenue
New York, New York 10167



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY





ACCOUNT EXECUTIVE

TELEPHONE

VISIT OUR WEBSITE www.bearstearns.com



## What’s In This Statement

<table border="1"><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></table>





# 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

| STATEMENT PERIOD | July 28, 2001 |

| :--- | :--- |

| THROUGH | August 31, 2001 |

TAXPAYER NUMBER On File

ACCOUNT NUMBER

| LAST STATEMENT | July 27, 2001 |

| :--- | :--- |

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

## Your Portfolio at a Glance

<table border="1"><tr><td>TOTAL VALUE OF SECURITIES THIS PERIOD</td><td>9,870,000</td></tr><tr><td>NET CREDIT BALANCE</td><td>28,057</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>10,329,176</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$20,227,233</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>21,937,396</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>-1,710,162</td></tr></table>

Market Value of Your Portfolio

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.

| 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 | 09/01/01:10:37 001 |

EFTA00197325



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY


2 of 5

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

HEALTH & SCIENCE INTERESTS II

STATEMENT BACKER IS PRINTED ON THIS PAGE

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EFTA00197326



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.
245 Park Avenue
New York, New York 10167

3 of 5

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$27,003.74</td></tr><tr><td>Money Fund</td><td>24,783.90</td></tr><tr><td>Dividends/Interest</td><td>1,053.58</td></tr><tr><td>Amount Credited</td><td>$25,837.48</td></tr><tr><td>Money Fund</td><td>-24,783.90</td></tr><tr><td>Amount Debited</td><td>$-24,783.90</td></tr><tr><td>Net Cash Activity</td><td>1,053.58</td></tr><tr><td>ClosingBalance</td><td>$28,057.32</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>27,003.74</td><td>28,057.32</td></tr><tr><td>Net Cash Balance</td><td>$27,003.74</td><td>$28,057.32</td></tr></table>

Income Summary

<table border="1"><tr><td></td><th>THIS PERIOD</th><th>YEAR TO DATE</th></tr><tr><td>Dividends</td><td>24,790.41</td><td>173,840.15</td></tr><tr><td>Credit Balance Int.</td><td>1,047.07</td><td>11,785.90</td></tr><tr><td>Total</td><td>$25,837.48</td><td>$185,626.05</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>10,357,233</td></tr><tr><td>Equities</td><td>9,870,000</td></tr><tr><td>Total</td><td>$20,227,233</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 July 28, 2001

THROUGH August 31, 2001



ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | July 27, 2001 |

| :--- | :--- |

Your Portfolio Allocation

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

EFTA00197327



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.
245 Park Avenue
New York, New York 10167

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>28,057</td><td></td><td></td></tr><tr><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>10,329,175.74</td><td>1.0000</td><td>10,329,176</td><td>402,838</td><td>3.9000</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$10,357,233</td><td>$402,838</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>14.1000</td><td>9,870,000</td><td>210,000</td><td>2.1277</td></tr><tr><td>Total Equities&amp;Options</td><td></td><td></td><td></td><td></td><td>$9,870,000</td><td>$210,000</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$9,870,000</td><td>$210,000</td><td></td></tr></table>

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$612,838</td></tr><tr><td>YOUR PRICED PORTFOLIO HOLDINGS</td><td>$20,227,233</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY





Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



HEALTH & SCIENCE INTERESTS II

STATEMENT PERIOD July 28, 2001

THROUGH August 31, 2001

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | July 27, 2001 |

| :--- | :--- |

027



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EFTA00197328



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.
245 Park Avenue
New York, New York 10167



CLEARED THROUGH ITS
CLEARLY WOUNDED SUBSIDIARY





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


5 of 5

HEALTH & SCIENCE INTERESTS II



Transaction Detail


STATEMENT PERIOD July 28, 2001

## MONEY FUND ACTIVITY

<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>07/28/01</td><td></td><td>OPENINGBALANCE</td><td></td><td>10,304,391.84</td><td></td><td></td><td></td></tr><tr><td>08/01/01</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>24,783.90</td></tr><tr><td>08/01/01</td><td>REINVEST</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED</td><td>DICCX</td><td>24,783.90</td><td></td><td>24,783.90</td><td></td></tr><tr><td>08/31/01</td><td></td><td>CLOSINGBALANCE</td><td></td><td>10,329,175.74</td><td></td><td></td><td></td></tr><tr><td colspan="6">TOTAL</td><td>-24,783.90</td><td>$24,783.90</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>08/01/01</td><td>TYCO INTERNATIONAL LTD<br>REC 07/02/01 PAY 08/01/01</td><td>TYC</td><td>521</td><td>0.0125</td><td></td><td>6.51</td></tr><tr><td colspan="7">TOTAL</td><td>$6.51</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>08/21/01</td><td>INTEREST ON CREDIT BALANCE AT 3 1/4% 07/21 THRU 08/20</td><td></td><td></td><td>3.2500</td><td></td><td>1,047.07</td></tr><tr><td colspan="6">TOTAL</td><td>$1,047.07</td></tr></tbody></table>

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