EFTA00197498

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 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>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

HERITAGE INTERESTS

STATEMENT PERIOD June 30, 2001

ACCOUNT NUMBER

| LAST STATEMENT | June 29, 2001 |

| :--- | :--- |

TAXPAYER NUMBER On File

THROUGH July 27, 2001

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>9,518,273</td></tr><tr><td>NET CREDIT BALANCE</td><td>1,399,798</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>8,604,371</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$19,522,442</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>19,140,918</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>381,524</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.

| SIPC | 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. |
| :--- | :--- |
| 027 | 07/28/01:10:18 001 |

EFTA00197499



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY




2 of 7


Bear, Steams Securities Corp.
One Metrotech Center North
Brooklyn, New York 11201-3859

HERITAGE INTERESTS

STATEMENT BACKER IS PRINTED ON THIS PAGE

027

EFTA00197500



BEAR
STEARNS


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

3 of 7

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$1,333,463.05</td></tr><tr><td>Securities Sold</td><td>1,935,648.29</td></tr><tr><td>Money Fund</td><td>4,371.04</td></tr><tr><td>Funds Deposited</td><td>2,872,727.64</td></tr><tr><td>Dividends/Interest</td><td>40,913.62</td></tr><tr><td></td><td></td></tr><tr><td>Amount Credited</td><td>$4,853,660.59</td></tr><tr><td></td><td></td></tr><tr><td>Money Fund</td><td>-2,004,371.04</td></tr><tr><td>Funds Withdrawn</td><td>-210,898.00</td></tr><tr><td>Dividends/Interest Charged</td><td>-4,800.00</td></tr><tr><td>Miscellaneous</td><td>-2,567,257.00</td></tr><tr><td></td><td></td></tr><tr><td>Amount Debited</td><td>$-4,787,326.04</td></tr><tr><td>Net Cash Activity</td><td>66,334.55</td></tr><tr><td></td><td></td></tr><tr><td>Closing Balance</td><td>$1,399,797.60</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>8,765.37</td><td>76,465.02</td></tr><tr><td>Margin</td><td>56,397.30</td><td>104,018.30</td></tr><tr><td>Short</td><td>1,268,300.38</td><td>1,219,314.28</td></tr><tr><td>Net Cash Balance</td><td>$1,333,463.05</td><td>$1,399,797.60</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>40,910.36</td><td>118,860.78</td></tr><tr><td>Credit Balance Int.</td><td>939.40</td><td>24,552.14</td></tr><tr><td>Total</td><td>$41,849.76</td><td>$143,412.92</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>10,004,169</td></tr><tr><td>Equities</td><td>1,380,280</td><td>10,898,553</td></tr><tr><td>Total</td><td>$1,380,280</td><td>$20,902,722</td></tr></table>

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

HERITAGE INTERESTS

| STATEMENT PERIOD | June 30, 2001 |
| :--- | :--- |
| THROUGH | July 27, 2001 |

Your Portfolio Allocation

TAXPAYER NUMBER On File

| LAST STATEMENT | June 29, 2001 |

| :--- | :--- |



07/28/01;10:18 001


Unshaded portions denote debit balance and/or short market values. The allocation percentage is derived from the absolute market value of your portfolio.

EFTA00197501



BEAR
STEARNS


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

4 of 7

## 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></tr></thead><tbody><tr><td>CASH BALANCE</td><td></td><td></td><td></td><td>1,399,798</td><td></td></tr><tr><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>8,604,371.04</td><td>1.0000</td><td>8,604,371</td><td>352,779</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$10,004,169</td><td>$352,779</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>MEDTRONIC INC</td><td>MDT</td><td>CASH</td><td>113,961</td><td>48.5500</td><td>5,532,807</td><td>26,211</td><td>0.4737</td></tr><tr><td>PNC FINANCIAL SVCS GROUP INC</td><td>PNC</td><td>CASH</td><td>32,472</td><td>64.5900</td><td>2,097,366</td><td>62,346</td><td>2.9726</td></tr><tr><td>PNC FINANCIAL SVCS GROUP INC</td><td>PNC</td><td>SHRT</td><td>-10,000</td><td>64.5900</td><td>-645,900</td><td>-19,200</td><td>2.9726</td></tr><tr><td>TYCO INTERNATIONAL LTD</td><td>TYC</td><td>CASH</td><td>61,000</td><td>53.5800</td><td>3,268,380</td><td>3,050</td><td>0.0933</td></tr><tr><td>TYCO INTERNATIONAL LTD</td><td>TYC</td><td>SHRT</td><td>-11,000</td><td>53.5800</td><td>-589,380</td><td>-550</td><td>0.0933</td></tr><tr><td>CALL TYCO INTL OCT 055**** EXP 10/20/2001</td><td>TYCJ55</td><td>CASH</td><td>-500</td><td>2.9000</td><td>-145,000</td><td></td><td></td></tr><tr><td>Total Equities&amp; Options</td><td></td><td></td><td></td><td></td><td>$9,518,273</td><td>$71,857</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$9,518,273</td><td>$71,857</td><td></td></tr></tbody></table>

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$424,636</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$19,522,441</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



Bear, Steams Securities Corp.

One Metratech Center North

Brooklyn, New York 11201-3859

STATEMENT PERIOD June 30, 2001

THROUGH July 27, 2001

HERITAGE INTERESTS

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | June 29, 2001 |

| :--- | :--- |

027



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EFTA00197502



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 June 30, 2001

THROUGH July 27, 2001

## INVESTMENT ACTIVITY



ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | June 29, 2001 |

| :--- | :--- |

<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>07/13/01</td><td></td><td>JOURNAL</td><td>PNC FINANCIAL SVCS GROUP INC<br>JOURNAL FROM TYPE 2 TO 1</td><td>PNC</td><td>9,405</td><td></td><td></td><td></td></tr><tr><td>07/13/01</td><td></td><td>JOURNAL</td><td>PNC FINANCIAL SVCS GROUP INC<br>JOURNAL FROM TYPE 2 TO 1</td><td>PNC</td><td>-9,405</td><td></td><td></td><td></td></tr><tr><td>07/18/01</td><td>07/13/01</td><td>SOLD</td><td>PNC FINANCIAL SVCS GROUP INC<br>UNSOLICITED</td><td>PNC</td><td>-30,000</td><td>64.36610</td><td></td><td>1,929,116.13</td></tr><tr><td>07/18/01</td><td>07/13/01</td><td>SOLD</td><td>TYCO INTERNATIONAL LTD<br>UNSOLICITED</td><td>TYC</td><td>-128</td><td>51.44440</td><td></td><td>6,532.16</td></tr><tr><td colspan="9">TOTAL</td><td>$1,935,648.29</td></tr></tbody></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>07/02/01</td><td>FND WIRED</td><td>WIRED TO J P MURGAN BANK<br>FD#06328<br>$ COMING FROM REPO</td><td>174,484.00</td><td></td></tr><tr><td>07/02/01</td><td>FUNDS REC</td><td>FNDS WIRED TO CITIBANK FROM CTC NJ</td><td></td><td>2,872,727.64</td></tr><tr><td>07/09/01</td><td>FND WIRED</td><td>WIRED TO CITIBANK NA</td><td>36,414.00</td><td></td></tr><tr><td colspan="3">TOTAL</td><td>-210,898.00</td><td>$2,872,727.64</td></tr></tbody></table>

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EFTA00197503



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

6 of 7

HERITAGE INTERESTS

STATEMENT PERIOD June 30, 2001

THROUGH July 27, 2001

TAXPAYER NUMBER On File

| LAST STATEMENT | June 29, 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>06/30/01</td><td></td><td>OPENINGBALANCE</td><td></td><td>6,600,000</td><td></td><td></td><td></td></tr><tr><td>07/02/01</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>4,371.04</td></tr><tr><td>07/02/01</td><td>REINVEST</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED</td><td>DICCX</td><td>4,371.04</td><td></td><td>4,371.04</td><td></td></tr><tr><td>07/24/01</td><td>BOUGHT</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES BUY FD</td><td>DICCX</td><td>2,000,000</td><td>1.0000</td><td>2,000,000.00</td><td></td></tr><tr><td>07/27/01</td><td></td><td>CLOSINGBALANCE</td><td></td><td>8,604,371.04</td><td></td><td></td><td></td></tr><tr><td colspan="5">TOTAL</td><td></td><td>-2,004,371.04</td><td>$4,371.04</td></tr></tbody></table>

## DIVIDENDS

<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>07/16/01</td><td>PNC FINANCIAL SVCS GROUP INC<br>DIV CHG 10000 SHS SHORT<br>REC 07/13/01 PAY 07/24/01</td><td>PNC</td><td></td><td></td><td>4,800.00</td><td></td></tr><tr><td>07/24/01</td><td>PNC FINANCIAL SVCS GROUP INC<br>REC 07/13/01 PAY 07/24/01</td><td>PNC</td><td>62,472</td><td>0.4800</td><td></td><td>29,986.56</td></tr><tr><td>07/27/01</td><td>MEDTRONIC INC<br>REC 07/06/01 PAY 07/27/01</td><td>MDT</td><td>113,961</td><td>0.0575</td><td></td><td>6,552.76</td></tr><tr><td colspan="5">TOTAL</td><td>-4,800.00</td><td>$36,539.32</td></tr></tbody></table>

027



07/28/01;10:18 001


EFTA00197504



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



HERITAGE INTERESTS

## **Transaction Detail** (continued)

STATEMENT PERIOD June 30, 2001



INTEREST


THROUGH July 27, 2001

AGCOUNT NUMBER

TAXPAYER NUMBER On File

<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>07/23/01</td><td>INTEREST ON CREDIT BALANCE AT 3 1/2% 06/21 THRU 06/26</td><td></td><td></td><td>3.5000</td><td></td><td>32.60</td></tr><tr><td>07/23/01</td><td>INTEREST ON CREDIT BALANCE AT 3 1/4% 06/27 THRU 07/20</td><td></td><td></td><td>3.2500</td><td></td><td>906.80</td></tr><tr><td>07/23/01</td><td>SHT ACCT FEE 06/21-07 20 01</td><td></td><td></td><td></td><td></td><td>3,434.90</td></tr><tr><td colspan="6">TOTAL</td><td>$4,374.30</td></tr></tbody></table>

| LAST STATEMENT | June 29, 2001 |

| :--- | :--- |

## 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>07/02/01</td><td>JOURNAL</td><td>TO 047-30185 PER LOA</td><td>2,567,257.00</td><td></td></tr><tr><td>07/02/01</td><td>JOURNAL</td><td>MARK TO MARKET</td><td></td><td>10,900.00</td></tr><tr><td>07/02/01</td><td>JOURNAL</td><td>MARK TO MARKET SHORT POS</td><td>10,900.00</td><td></td></tr><tr><td>07/09/01</td><td>JOURNAL</td><td>MARK TO MARKET</td><td></td><td>28,300.00</td></tr><tr><td>07/09/01</td><td>JOURNAL</td><td>MARK TO MARKET SHORT POS</td><td>28,300.00</td><td></td></tr><tr><td>07/16/01</td><td>JOURNAL</td><td>MARK TO MARKET</td><td></td><td>15,050.00</td></tr><tr><td>07/16/01</td><td>JOURNAL</td><td>MARK TO MARKET SHORT POS</td><td>15,050.00</td><td></td></tr><tr><td>07/23/01</td><td>JOURNAL</td><td>MARK TO MARKET</td><td>6,629.00</td><td></td></tr><tr><td>07/23/01</td><td>JOURNAL</td><td>MARK TO MARKET SHORT POS</td><td></td><td>6,629.00</td></tr><tr><td colspan="3">TOTAL</td><td>-2,628,136.00</td><td>$60,879.00</td></tr></tbody></table>



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


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