EFTA00197511

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



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | ZICHERMAN, IRA |

| TELEPHONE | |

| VISIT OUR WEBSITE | www.bearstearns.com |

<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></table>

## What’s In This Statement





Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

# HERITAGE INTERESTS

FINANCIAL TRUST CO TTEE

DTD 7-30-91 \*

ATTN JEANIE BRENNAN

6100 RED HOOK QUARTER STE B-3

ST THOMAS VI 00802

HERITAGE INTERESTS

ACCOUNT NUMBER

STATEMENT PERIOD April 28, 2001

THROUGH May 25, 2001

TAXPAYER NUMBER On File

| LAST STATEMENT | April 27, 2001 |

| :--- | :--- |

## Your Portfolio at a Glance

<table border="1"><tr><td>TOTAL VALUE OF SECURITIES THIS PERIOD</td><td>10,991,546</td></tr><tr><td>NET CREDIT BALANCE</td><td>1,329,456</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$12,321,002</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>12,764,050</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>-443,048</td></tr></table>

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

Market Value of Your Portfolio

In an effort to deliver statements to you more efficiently, Bear Stearns has enhanced the distribution of statements to household accounts.

Beginning in June, all statements with the same Address and Social Security number / Taxpayer identification number will be mailed in a single envelope. For further details, please contact your account executive.

## Important Message

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




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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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EFTA00197513



BEAR
STEARNS


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

3 of 6

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$1,823,295.74</td></tr><tr><td>Dividends/Interest</td><td>6,160.47</td></tr><tr><td>Amount Credited</td><td>$6,160.47</td></tr><tr><td>Funds Withdrawn</td><td>-500,000.00</td></tr><tr><td>Amount Debited</td><td>$-500,000.00</td></tr><tr><td>Net Cash Activity</td><td>-493,839.53</td></tr><tr><td>ClosingBalance</td><td>$1,329,456.21</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>6,537.09</td><td>8,704.67</td></tr><tr><td>Margin</td><td>563,648.30</td><td>10,669.30</td></tr><tr><td>Short</td><td>1,253,110.35</td><td>1,310,082.24</td></tr><tr><td>Net Cash Balance</td><td>$1,823,295.74</td><td>$1,329,456.21</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>764.10</td><td>77,950.42</td></tr><tr><td>Credit Balance Int.</td><td>1,403.48</td><td>23,552.04</td></tr><tr><td>Total</td><td>$2,167.58</td><td>$101,502.46</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>1,329,456</td></tr><tr><td>Equities</td><td>1,640,750</td><td>12,632,296</td></tr><tr><td>Total</td><td>$1,640,750</td><td>$13,961,752</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><tr><td>STATEMENT PERIOD</td><td>April 28, 2001</td></tr><tr><td>THROUGH</td><td>May 25, 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>April 27, 2001</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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EFTA00197514



BEAR
STEARNS


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

4 of 6

## 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>1,329,456</td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$1,329,456</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>MEDTRONIC INC</td><td>MDT</td><td>CASH</td><td>113,961</td><td>42.5000</td><td>4,843,343</td><td>22,792</td><td>0.4706</td></tr><tr><td>PNC FINANCIAL SVCS GROUP INC</td><td>PNC</td><td>CASH</td><td>53,067</td><td>69.1500</td><td>3,669,583</td><td>101,889</td><td>2.7766</td></tr><tr><td>PNC FINANCIAL SVCS GROUP INC</td><td>PNC</td><td>MRGN</td><td>9,405</td><td>69.1500</td><td>650,356</td><td>18,058</td><td>2.7766</td></tr><tr><td>PNC FINANCIAL SVCS GROUP INC</td><td>PNC</td><td>SHRT</td><td>-10,000</td><td>69.1500</td><td>-691,500</td><td>-19,200</td><td>2.7766</td></tr><tr><td>TYCO INTERNATIONAL LTD</td><td>TYC</td><td>CASH</td><td>61,128</td><td>56.7500</td><td>3,469,014</td><td>3,056</td><td>0.0881</td></tr><tr><td>TYCO INTERNATIONAL LTD</td><td>TYC</td><td>SHRT</td><td>-11,000</td><td>56.7500</td><td>-624,250</td><td>-550</td><td>0.0881</td></tr><tr><td>CALL TYCO INTL OCT 055**** EXP 10/20/2001</td><td>TYCJ55</td><td>CASH</td><td>-500</td><td>6.5000</td><td>-325,000</td><td></td><td></td></tr><tr><td>Total Equities&amp; Options</td><td></td><td></td><td></td><td></td><td>$10,991,546</td><td>$126,045</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$10,991,546</td><td>$126,045</td><td></td></tr></tbody></table>

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$126,045</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$12,321,002</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



Bear, Steams Securities Corp.

One Metrotech Center North Brooklyn, New York 11201-3859

STATEMENT PERIOD April 28, 2001

HERITAGE INTERESTS

THROUGH May 25, 2001

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | April 27, 2001 |

| :--- | :--- |

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EFTA00197515



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 6**

HERITAGE INTERESTS



Transaction Detail


STATEMENT PERIOD April 28, 2001

## INVESTMENT ACTIVITY

THROUGH May 25, 2001

TAXPAYER NUMBER On File

| LAST STATEMENT | April 27, 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>05/04/01</td><td></td><td>JOURNAL</td><td>PNC FINANCIAL SVCS GROUP INC<br>JOURNAL FROM TYPE 1 TO 2</td><td>PNC</td><td>-9,405</td><td></td><td></td><td></td></tr><tr><td>05/04/01</td><td></td><td>JOURNAL</td><td>PNC FINANCIAL SVCS GROUP INC<br>JOURNAL FROM TYPE 1 TO 2</td><td>PNC</td><td>9,405</td><td></td><td></td><td></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>05/02/01</td><td>FND WIRED</td><td>WIRED TO<br>COSTCOTAL TRUST COMPANY</td><td>500,000.00</td><td></td></tr><tr><td colspan="3">TOTAL</td><td>-500,000.00</td><td></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>05/02/01</td><td>TYCO INTERNATIONAL LTD<br>REC 04/02/01 PAY 05/02/01</td><td>TYC</td><td>61,128</td><td>0.0125</td><td></td><td>764.10</td></tr><tr><td colspan="6">TOTAL</td><td>$764.10</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



CLEARED THROUGH ITS
CLEARLY WOUNDED SUBSIDIARY



6 of 6

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

HERITAGE INTERESTS

## **Transaction Detail** (continued)



INTEREST


STATEMENT PERIOD April 28, 2001

THROUGH May 25, 2001

ACCOUNT 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>05/21/01</td><td>INTEREST ON CREDIT BALANCE AT 3 1/2% 05/15 THRU 05/20</td><td></td><td></td><td>3.5000</td><td></td><td>71.42</td></tr><tr><td>05/21/01</td><td>INTEREST ON CREDIT BALANCE AT 4,000% 04/21 THRU 05/14</td><td></td><td></td><td>4.0000</td><td></td><td>1,332.06</td></tr><tr><td>05/21/01</td><td>SHT ACCT FEE 04/21-05 20 01</td><td></td><td></td><td></td><td></td><td>3,992.89</td></tr><tr><td colspan="6">TOTAL</td><td>$5,396.37</td></tr></tbody></table>

| LAST STATEMENT | April 27, 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>05/07/01</td><td>JOURNAL</td><td>MARK TO MARKET</td><td></td><td>37,060.00</td></tr><tr><td>05/07/01</td><td>JOURNAL</td><td>MARK TO MARKET SHORT POS</td><td>37,060.00</td><td></td></tr><tr><td>05/14/01</td><td>JOURNAL</td><td>MARK TO MARKET</td><td></td><td>14,430.00</td></tr><tr><td>05/14/01</td><td>JOURNAL</td><td>MARK TO MARKET SHORT POS</td><td>14,430.00</td><td></td></tr><tr><td>05/21/01</td><td>JOURNAL</td><td>MARK TO MARKET</td><td>104,469.00</td><td></td></tr><tr><td>05/21/01</td><td>JOURNAL</td><td>MARK TO MARKET SHORT POS</td><td></td><td>104,469.00</td></tr><tr><td colspan="3">TOTAL</td><td>-155,959.00</td><td>$155,959.00</td></tr></tbody></table>



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


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