EFTA00197457

OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.
245 Park Avenue
New York, New York 10167
(212) 272-2000



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY





ACCOUNT EXECUTIVE CAYNE,JAMES E.

TELEPHONE

VISIT OUR WEBSITE www.bearstearns.com



What’s In This Statement

Your Messages 1





Bear, Stearns Securities Corp.

One Metrotech Center North Brooklyn, New York 11201-3859

(212) 272-1000

<table border="1"><tr><td>HEALTH &amp; SCIENCE INTERESTS II</td></tr><tr><td>C/O JEFFREY EPSTEIN</td></tr><tr><td>ATTN JEANIE BRENNAN</td></tr><tr><td>6100 RED HOOK QUARTER STE B-3</td></tr><tr><td>ST THOMAS VI 00802</td></tr></table>

Premise or Third Party Repurchase Agreements with Bear, Stearns& Co.Inc.outstanding as of date of statement

TAXPAYER NUMBER 13-7022662



ACCOUNT NUMBER



<table><thead><tr><th>PURCHASE/ START DATE</th><th>REPURCHASE/ END DATE</th><th>PURCHASE PRICE/ PRINCIPAL</th><th>PRICING RATE</th><th>REPO/ ACCRUED INTEREST*</th><th>NET AMOUNT</th></tr></thead><tbody><tr><td>01/26/01</td><td>OPEN</td><td>5,016,471.57</td><td>5.350000</td><td>23,768.32</td><td>5,040,239.89</td></tr><tr><td colspan="5">TOTAL REPURCHASE AGREEMENTS</td><td>$5,040,239.89</td></tr></tbody></table>

| LAST STATEMENT | January 26, 2001 |

| :--- | :--- |

HEALTH & SCIENCE INTERESTS II

THROUGH February 23, 2001

STATEMENT PERIOD January 27, 2001

*As of statement date
The above positions do not appear in any other section of this statement.

## Your messages



The interest, if any, charged to your account during December 2000 was computed on the net debit balance through December 28. The interest, if any, charged to your account during January 2001 is computed from December 29, 2000.

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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EFTA00197458

CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY



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Bear, Stearns Securities Corp.
One Metrotech Center North
Brooklyn, New York 11201-3859
(212) 272-1000

HEALTH & SCIENCE INTERESTS II

STATEMENT BACKER IS PRINTED ON THIS PAGE

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