EFTA00197438

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>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY







<table><tr><td>HEALTH &amp; SCIENCE INTERESTS II</td></tr><tr><td>TRUST JEFFREY E EPSTEIN TTEE</td></tr><tr><td>DTD 8/18/93</td></tr><tr><td>6100 RED HOOK QUARTER STE B-3</td></tr><tr><td>ST THOMAS VI 00802</td></tr></table>

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

HEALTH & SCIENCE INTERESTS II

TAXPAYER NUMBER On File

STATEMENT PERIOD January 26, 2002

| LAST STATEMENT | January 25, 2002 |

| :--- | :--- |

THROUGH February 22, 2002

ACCOUNT NUMBER

## 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>12,460,000</td></tr><tr><td>NET CREDIT BALANCE</td><td>35,430</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>6,872,856</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$19,368,286</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>18,551,894</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>816,392</td></tr></table>

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


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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EFTA00197440



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

3 of 5

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$35,392.04</td></tr><tr><td>Money Fund</td><td>11,353.82</td></tr><tr><td>Dividends/Interest</td><td>38.08</td></tr><tr><td>Amount Credited</td><td>$11,391.90</td></tr><tr><td>Money Fund</td><td>-11,353.82</td></tr><tr><td>Amount Debited</td><td>$-11,353.82</td></tr><tr><td>Net Cash Activity</td><td>38.08</td></tr><tr><td>Closing Balance</td><td>$35,430.12</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>35,392.04</td><td>35,430.12</td></tr><tr><td>Net Cash Balance</td><td>$35,392.04</td><td>$35,430.12</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>11,353.82</td><td>11,353.82</td></tr><tr><td>Credit Balance Int.</td><td>38.08</td><td>455.56</td></tr><tr><td>Total</td><td>$11,391.90</td><td>$11,809.38</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>6,908,286</td></tr><tr><td>Equities</td><td>12,460,000</td></tr><tr><td>Total</td><td>$19,368,286</td></tr></table>

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

HEALTH & SCIENCE INTERESTS II

| STATEMENT PERIOD | January 26, 2002 |
| :--- | :--- |
| THROUGH | February 22, 2002 |

<table><tr><td>ACCOUNT NUMBER</td><td></td></tr><tr><td>TAXPAYER NUMBER</td><td>On File</td></tr><tr><td>LAST STATEMENT</td><td>January 25, 2002</td></tr></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.



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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

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>35,430</td><td></td><td></td></tr><tr><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 1,9000%</td><td>DICCX</td><td>6,872,855.55</td><td>1.0000</td><td>6,872,856</td><td>137,457</td><td>2.0000</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$6,908,286</td><td>$137,457</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>17.8000</td><td>12,460,000</td><td>210,000</td><td>1.6854</td></tr><tr><td>Total Equities&amp;Options</td><td></td><td></td><td></td><td></td><td>$12,460,000</td><td>$210,000</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$12,460,000</td><td>$210,000</td><td></td></tr></table>

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$347,457</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$19,368,286</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 January 26, 2002

THROUGH February 22, 2002

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | January 25, 2002 |

| :--- | :--- |

027



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EFTA00197442



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



**5 of 5**

HEALTH & SCIENCE INTERESTS II



Transaction Detail


STATEMENT PERIOD January 26, 2002

## MONEY FUND ACTIVITY

| LAST STATEMENT | January 25, 2002 |

| :--- | :--- |

<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>01/26/02</td><td></td><td>OPENINGBALANCE</td><td></td><td>6,861,501.73</td><td></td><td></td><td></td></tr><tr><td>02/01/02</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>11,353.82</td></tr><tr><td>02/01/02</td><td>REINVEST</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED</td><td>DICCX</td><td>11,353.82</td><td></td><td>11,353.82</td><td></td></tr><tr><td>02/22/02</td><td></td><td>CLOSINGBALANCE</td><td></td><td>6,872,855.55</td><td></td><td></td><td></td></tr><tr><td colspan="4">TOTAL</td><td></td><td></td><td>-11,353.82</td><td>$11,353.82</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>02/21/02</td><td>INTEREST ON CREDIT BALANCE AT 1 1/4% 01/21 THRU 02/20</td><td></td><td></td><td>1.2500</td><td></td><td>38.08</td></tr><tr><td colspan="7">TOTAL</td><td>$38.08</td></tr></tbody></table>





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



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