EFTA00197459

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

| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | CAYNE,JAMES E. |

| TELEPHONE | |

| VISIT OUR WEBSITE | www.bearstearns.com |

Important Message

Decimal Trading is Coming!

Decimal Trading is the shift from fractional pricing (e.g.,21 1/2) to decimal pricing (e.g.,$21.50) for equities and options.

All trading on NYSE, AMEX, and regional exchanges will be in decimals effective as of 1/29/01.

For details, visit our website at www.bearstearns.com.







CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



<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>

Bear, Stearns Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

(212) 272-1000

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



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&#39; 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>5.950000</td><td>2,487.33</td><td>5,018,958.90</td></tr><tr><td colspan="5">TOTAL REPURCHASE AGREEMENTS</td><td>$5,018,958.90</td></tr></tbody></table>

HEALTH & SCIENCE INTERESTS II

TAXPAYER NUMBER 13-7022662

| LAST STATEMENT | December 29, 2000 |

| :--- | :--- |

| STATEMENT PERIOD | December 30, 2000 |

| :--- | :--- |

| THROUGH | January 26, 2001 |

*As of statement date*

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





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



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.

027

EFTA00197460

CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY



2 of 2


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

027



01/27/01;15:33 00


EFTA00197461