EFTA00197483

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

| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | ZICHERMAN, IRA |

| TELEPHONE | |

| VISIT OUR WEBSITE | www.bearstearns.com |

## What’s In This Statement

<table><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><tr><td>Your Messages</td><td>6</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY







# HERITAGE INTERESTS

FINANCIAL TRUST CO TTEE

DTD 7-30-91 \*

ATTN JEANIE BRENNAN

6100 RED HOOK QUARTER STE B-3

ST THOMAS VI 00802

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

## Your Portfolio at a Glance

ACCOUNT NUMBER

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

STATEMENT PERIOD September 1, 2001

| LAST STATEMENT | August 31, 2001 |

| :--- | :--- |

HERITAGE INTERESTS

TAXPAYER NUMBER On File

<table border="1"><tr><td>TOTAL VALUE OF SECURITIES THIS PERIOD</td><td>2,270,000</td></tr><tr><td>NET CREDIT BALANCE</td><td>1,374,043</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>4,243,946</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$7,887,989</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>8,133,222</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>-245,233</td></tr></table>

THROUGH September 28, 2001

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.



SPC 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

HERITAGE INTERESTS

STATEMENT BACKER IS PRINTED ON THIS PAGE

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BEAR
STEARNS


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

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Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$1,370,713.06</td></tr><tr><td>Money Fund</td><td>16,436.92</td></tr><tr><td>Dividends/Interest</td><td>3,329.56</td></tr><tr><td>Amount Credited</td><td>$19,766.48</td></tr><tr><td>Money Fund</td><td>-16,436.92</td></tr><tr><td>Amount Debited</td><td>$-16,436.92</td></tr><tr><td>Net Cash Activity</td><td>3,329.56</td></tr><tr><td>ClosingBalance</td><td>$1,374,042.62</td></tr></table>

Same day transfers of cash between account types are not included in this section; such transfers, as well as details for all other transactions this period, appear in Transaction Detail.

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>44,041.74</td><td>44,407.40</td></tr><tr><td>Margin</td><td>55,172.30</td><td>356,634.30</td></tr><tr><td>Short</td><td>1,271,499.02</td><td>973,000.92</td></tr><tr><td>Net Cash Balance</td><td>$1,370,713.06</td><td>$1,374,042.62</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>16,436.92</td><td>159,200.14</td></tr><tr><td>Credit Balance Int.</td><td>365.66</td><td>27,816.26</td></tr><tr><td>Total</td><td>$16,802.58</td><td>$187,016.40</td></tr></table>

Portfolio Composition

<table border="1"><tr><td></td><td>SHORT</td><td>LONG</td></tr><tr><td>Cash/Cash Equivalent</td><td></td><td>5,617,989</td></tr><tr><td>Equities</td><td>1,078,000</td><td>3,348,000</td></tr><tr><td>Total</td><td>$1,078,000</td><td>$8,965,989</td></tr></table>



CLEARED THROUGH ITS
WHOLLY OWNED SUBSDIARY


Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

HERITAGE INTERESTS

<table><thead><tr><th>STATEMENT PERIOD</th><td>September 1, 2001</td></tr></thead><tbody><tr><td>THROUGH</td><td>September 28, 2001</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>August 31, 2001</td></tr></tbody></table>

Your Portfolio Allocation

EFTA00197486



BEAR
STEARNS


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

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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>1,374,043</td><td></td><td></td></tr><tr><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>4,243,946.30</td><td>1.0000</td><td>4,243,946</td><td>157,026</td><td>3.7000</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$5,617,989</td><td>$157,026</td><td></td></tr></tbody></table>

## EQUITIES

## Equities & Options

<table><thead><tr><th>DESCRIPTION</th><th>SYMBOL/CUSIP</th><th>ACCT TYPE</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>PNC FINANCIAL SVCS GROUP INC</td><td>PNC</td><td>CASH</td><td>10,000</td><td>57.2500</td><td>572,500</td><td>19,200</td><td>3.3537</td></tr><tr><td>PNC FINANCIAL SVCS GROUP INC</td><td>PNC</td><td>SHRT</td><td>-10,000</td><td>57.2500</td><td>-572,500</td><td>-19,200</td><td>3.3537</td></tr><tr><td>TYCO INTERNATIONAL LTD</td><td>TYC</td><td>CASH</td><td>61,000</td><td>45.5000</td><td>2,775,500</td><td>3,050</td><td>0.1099</td></tr><tr><td>TYCO INTERNATIONAL LTD</td><td>TYC</td><td>SHRT</td><td>-11,000</td><td>45.5000</td><td>-500,500</td><td>-550</td><td>0.1099</td></tr><tr><td>CALL TYCO INTL OCT 055**** EXP 10/20/2001</td><td>TYCJ55</td><td>CASH</td><td>-500</td><td>0.1000</td><td>-5,000</td><td></td><td></td></tr><tr><td>Total Equities&amp; Options</td><td></td><td></td><td></td><td></td><td>$2,270,000</td><td>$2,500</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$2,270,000</td><td>$2,500</td><td></td></tr></tbody></table>

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$159,526</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$7,887,988</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



Bear, Steams Securities Corp.

One Meterotech Center North Brooklyn, New York 11201-3859

STATEMENT PERIOD September 1, 2001

HERITAGE INTERESTS

THROUGH September 28, 2001

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | August 31, 2001 |

| :--- | :--- |

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EFTA00197487



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 7**

HERITAGE INTERESTS



Transaction Detail


STATEMENT PERIOD September 1, 2001

THROUGH September 28, 2001

## MONEY FUND ACTIVITY



ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | August 31, 2001 |

| :--- | :--- |

<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>09/01/01</td><td></td><td>OPENINGBALANCE</td><td></td><td>4,227,509.38</td><td></td><td></td><td></td></tr><tr><td>09/04/01</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>16,436.92</td></tr><tr><td>09/04/01</td><td>REINVEST</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED</td><td>DICCX</td><td>16,436.92</td><td></td><td>16,436.92</td><td></td></tr><tr><td>09/28/01</td><td></td><td>CLOSINGBALANCE</td><td></td><td>4,243,946.30</td><td></td><td></td><td></td></tr><tr><td colspan="5">TOTAL</td><td></td><td>-16,436.92</td><td>$16,436.92</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>09/21/01</td><td>INTEREST ON CREDIT BALANCE AT 0 1/2% 09/19 THRU 09/19</td><td></td><td></td><td>0.5000</td><td></td><td>3.42</td></tr><tr><td>09/21/01</td><td>INTEREST ON CREDIT BALANCE AT 1 1/2% 09/20 THRU 09/20</td><td></td><td></td><td>1.5000</td><td></td><td>10.27</td></tr><tr><td>09/21/01</td><td>INTEREST ON CREDIT BALANCE AT 2 1/2% 09/17 THRU 09/18</td><td></td><td></td><td>2.5000</td><td></td><td>34.22</td></tr><tr><td>09/21/01</td><td>INTEREST ON CREDIT BALANCE AT 3,000% 08/21 THRU 09/16</td><td></td><td></td><td>3.0000</td><td></td><td>317.75</td></tr><tr><td>09/21/01</td><td>SHT ACCT FEE 08/21-09 20 01</td><td></td><td></td><td></td><td></td><td>2,963.90</td></tr><tr><td colspan="6">TOTAL</td><td>$3,329.56</td></tr></tbody></table>

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BEAR
STEARNS


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

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## **Transaction Detail** (continued)

## MISCELLANEOUS

<table><thead><tr><th>DATE MO/DAY</th><th>TRANSACTION</th><th>DESCRIPTION</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>09/04/01</td><td>JOURNAL</td><td>MARK TO MARKET</td><td></td><td>34,149.00</td></tr><tr><td>09/04/01</td><td>JOURNAL</td><td>MARK TO MARKET SHORT POS</td><td>34,149.00</td><td></td></tr><tr><td>09/10/01</td><td>JOURNAL</td><td>MARK TO MARKET</td><td></td><td>123,770.00</td></tr><tr><td>09/10/01</td><td>JOURNAL</td><td>MARK TO MARKET SHORT POS</td><td>123,770.00</td><td></td></tr><tr><td>09/17/01</td><td>JOURNAL</td><td>MARK TO MARKET</td><td>10,729.00</td><td></td></tr><tr><td>09/17/01</td><td>JOURNAL</td><td>MARK TO MARKET SHORT POS</td><td></td><td>10,729.00</td></tr><tr><td>09/24/01</td><td>JOURNAL</td><td>MARK TO MARKET</td><td></td><td>154,272.00</td></tr><tr><td>09/24/01</td><td>JOURNAL</td><td>MARK TO MARKET SHORT POS</td><td>154,272.00</td><td></td></tr><tr><td colspan="3">TOTAL</td><td>-322,920.00</td><td>$322,920.00</td></tr></tbody></table>

## Your messages

This statement is provided to explain Bear, Stearns & Co., Inc.'s ("BSC") payment for order flow practices,



BSC routes a majority of orders for customer securities transactions to the primary market for such securities. Orders may also be routed to other market service vendors that assure executions pursuant to complex mathematical formulas at better than the national best bid or best offer (NBBO). BSC receives no cash payment or other consideration for such order routing other than favorable executions or executions of limit orders at no additional charge.



CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY





Beginning October 31, 2001, you may request the identity of the venue to which any of your orders were routed for execution (if the order was within the six months prior to the request or July 2, 2001, whichever is a later date), whether the order was directed by you to that venue, and the time of the executions, if any, that resulted from such orders.

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

HERITAGE INTERESTS

STATEMENT PERIOD September 1, 2001

THROUGH September 28, 2001

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | August 31, 2001 |

| :--- | :--- |

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BEAR
STEARNS


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



CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY



7 of 7



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



At May 25, 2001 and July 27, 2001, the Company's net capital of $2.7 billion and $2.7 billion was approximately 8.9% and 9.2% of aggregate debit items and exceeded the minimum regulatory net capital requirement of $605.5 million and $585.5 million by $2.1 billion and $2.1 billion, all respectively,

## Bear, Stearns Securities Corp. Net Capital and Net Capital Requirements:



HERITAGE INTERESTS

A complete copy of the Bear, Stearns Securities Corp. Statement of Financial Condition is available on the web site www.bearstearns.com. Alternatively, to request a free printed copy please call -toll free 1-866-299-9331

STATEMENT PERIOD September 1, 2001

| LAST STATEMENT | August 31, 2001 |

| :--- | :--- |

TAXPAYER NUMBER On File

THROUGH September 28, 2001

ACCOUNT NUMBER



Securities and other assets in your account are the firm's collateral for any margin loan made to you. If the securities and other assets in your account decline in value, so does the value of the collateral supporting your loan, and, as a result, the firm can take action, such as issue a margin call and/or sell securities or other assets in any of your accounts held with the member, in order to maintain the required equity in the account. It is important that you fully understand the risks involved in trading securities on margin. These risks include the following:

You can lose more funds than you deposited in the margin account.

The firm can force the sale of securities or other assets in your account(s).

The firm can sell your securities or other assets without contacting you.

You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold to meet a margin call.

The firm can increase it's "house" maintenance requirements at any time and is not required to provide you advance written notice.

You are not entitled to an extension of time on a margin c



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


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