EFTA00197425

OFFICE SERVICING YOUR ACCOUNT

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

| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | ZICHERMAN, IRA |

| 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 TTEE

DTD 8/18/93

6100 RED HOOK QUARTER STE B-3

ST THOMAS VI 00802



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

HEALTH & SCIENCE INTERESTS II

Your Portfolio at a Glance

| STATEMENT PERIOD | March 29, 2002 |

| :--- | :--- |

| THROUGH | April 26, 2002 |

ACCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | March 28, 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>293,437,500</td></tr><tr><td>NET CREDIT BALANCE</td><td>15,126</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>5,693,632</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$299,146,258</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>287,995,431</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>11,150,827</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.

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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EFTA00197427



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

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Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$87,968.21</td></tr><tr><td>Securities Sold</td><td>867,661.95</td></tr><tr><td>Money Fund</td><td>2,110,798.60</td></tr><tr><td>Dividends/Interest</td><td>295.02</td></tr><tr><td>Amount Credited</td><td>$2,978,755.57</td></tr><tr><td>Money Fund</td><td>-910,798.60</td></tr><tr><td>Funds Withdrawn</td><td>-2,140,799.00</td></tr><tr><td>Amount Debited</td><td>$-3,051,597.60</td></tr><tr><td>Net Cash Activity</td><td>-72,842.03</td></tr><tr><td>Closing Balance</td><td>$15,126.18</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>87,968.21</td><td>15,126.18</td></tr><tr><td>Net Cash Balance</td><td>$87,968.21</td><td>$15,126.18</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>10,798.60</td><td>84,630.18</td></tr><tr><td>Credit Balance Int.</td><td>295.02</td><td>788.67</td></tr><tr><td>Total</td><td>$11,093.62</td><td>$85,418.85</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>5,708,758</td></tr><tr><td>Equities</td><td>293,437,500</td></tr><tr><td>Total</td><td>$299,146,258</td></tr></table>

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

HEALTH & SCIENCE INTERESTS II

<table><thead><tr><th>STATEMENT PERIOD</th><td>March 29, 2002</td></tr></thead><tbody><tr><td>THROUGH</td><td>April 26, 2002</td></tr><tr><td>ACCOUNT NUMBER</td><td></td></tr><tr><td>TAXPAYER NUMBER</td><td>On File</td></tr><tr><td>LAST STATEMENT</td><td>March 28, 2002</td></tr></tbody></table>

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.

EFTA00197428



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>15,126</td><td></td><td></td></tr><tr><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST. 30 DAY AVG YIELD 1,8500%</td><td>DICCX</td><td>5,693,631.91</td><td>1.0000</td><td>5,693,632</td><td>108,179</td><td>1.9000</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$5,708,758</td><td>$108,179</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>15,650,000</td><td>18.7500</td><td>293,437,500</td><td>4,695,000</td><td>1.6000</td></tr><tr><td>Total Equities&amp;Options</td><td></td><td></td><td></td><td></td><td>$293,437,500</td><td>$4,695,000</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$293,437,500</td><td>$4,695,000</td><td></td></tr></table>

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$4,803,179</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$299,146,258</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 March 29, 2002

THROUGH April 26, 2002

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | March 28, 2002 |

| :--- | :--- |

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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 Meterotech Center North Brooklyn, New York 11201-3859



**5 of 6**

HEALTH & SCIENCE INTERESTS II



Transaction Detail


STATEMENT PERIOD March 29, 2002

## INVESTMENT ACTIVITY

<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>04/02/02</td><td>03/27/02</td><td>SOLD</td><td>LIMITED INC UNSOLICITED RULE 144</td><td>LTD</td><td>-49,700</td><td>17.51830</td><td></td><td>867,661.95</td></tr></tbody></table>

<table><thead><tr><th>TOTAL</th><td>$867,661.95</td></tr></thead></table>

## DEPOSITS AND WITHDRAWALS

<table><thead><tr><th>DATE</th><th>TRANSACTION</th><th>DESCRIPTION</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>04/01/02</td><td>FND WIRED</td><td>MDA FNDS WIRED TO CHASE MANHATTAN BANK N.A. ACQ $ FROM DREYFUS TODAY</td><td>2,140,799.00</td><td></td></tr><tr><td colspan="3">TOTAL</td><td>-$-2,140,799.00</td><td></td></tr></tbody></table>

## MONEY FUND ACTIVITY

<table><thead><tr><th>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>03/29/02</td><td></td><td>OPENINGBALANCE</td><td></td><td>6,882,833.31</td><td></td><td></td><td></td></tr><tr><td>04/01/02</td><td>SOLD</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>-2,100,000</td><td>1.0000</td><td></td><td>2,100,000.00</td></tr><tr><td>04/01/02</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>10,798.60</td></tr><tr><td>04/01/02</td><td>REINVEST</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED</td><td>DICCX</td><td>10,798.60</td><td></td><td>10,798.60</td><td></td></tr><tr><td>04/10/02</td><td>BOUGHT</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>900,000</td><td>1.0000</td><td>900,000.00</td><td></td></tr></tbody></table>

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EFTA00197430



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 Metratech Center North

Brooklyn, New York 11201-3859



6 of 6

HEALTH & SCIENCE INTERESTS II

## **Transaction Detail** (continued)

STATEMENT PERIOD March 29, 2002

MONEY FUND ACTIVITY (continued)

<table border="1"><tr><td>DATE MO/DAY</td><td>TRANSACTION</td><td>DESCRIPTION</td><td>SYMBOL/CUSIP</td><td>QUANTITY</td><td>PRICE</td><td>DEBIT AMOUNT</td><td>CREDIT AMOUNT</td></tr><tr><td>04/26/02</td><td></td><td>CLOSINGBALANCE</td><td></td><td>5,693,631.91</td><td></td><td></td><td></td></tr><tr><td>TOTAL</td><td></td><td></td><td></td><td></td><td></td><td>-910,798.60</td><td>$2,110,798.60</td></tr></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>04/22/02</td><td>INTEREST ON CREDIT BALANCE AT 1 1/4% 03/21 THRU 04/20</td><td></td><td></td><td>1.2500</td><td></td><td>295.02</td></tr><tr><td colspan="7">TOTAL</td><td>$295.02</td></tr></tbody></table>





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




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