EFTA00197544

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



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



<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>





# HERITAGE INTERESTS

FINANCIAL TRUST CO TTEE

DTD 7-30-91

ATTN JEANIE

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

## 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>12,718,093</td></tr><tr><td>NET CREDIT BALANCE</td><td>2,652,775</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$15,370,868</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>16,204,928</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>-834,061</td></tr></table>

Market Value of Your Portfolio



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.



## 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.

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.

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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EFTA00197545



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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY

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

HERITAGE INTERESTS

STATEMENT BACKER IS PRINTED ON THIS PAGE

027



01/27/01;13:44 001


EFTA00197546



BEAR
STEARNS


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

3 of 8

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$81,907.35</td></tr><tr><td>Securities Sold</td><td>4,362,833.68</td></tr><tr><td>Funds Deposited</td><td>2,000,000.00</td></tr><tr><td>Dividends/Interest</td><td>42,581.45</td></tr><tr><td>Miscellaneous</td><td>7,310,706.50</td></tr><tr><td>Amount Credited</td><td>$13,716,121.63</td></tr><tr><td>Securities Bought</td><td>-1,075,254.16</td></tr><tr><td>Funds Withdrawn</td><td>-7,470,000.00</td></tr><tr><td>Miscellaneous</td><td>-2,600,000.00</td></tr><tr><td>Amount Debited</td><td>$-11,145,254.16</td></tr><tr><td>Net Cash Activity</td><td>2,570,867.47</td></tr><tr><td>Closing Balance</td><td>$2,652,774.82</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>81,907.35</td><td>778,470.00</td></tr><tr><td>Margin</td><td>0.00</td><td>624,874.00</td></tr><tr><td>Short</td><td>0.00</td><td>1,249,430.82</td></tr><tr><td>Net Cash Balance</td><td>$81,907.35</td><td>$2,652,774.82</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>40,484.61</td><td>40,484.61</td></tr><tr><td>Credit Balance Int.</td><td>2,096.84</td><td>2,096.84</td></tr><tr><td>Total</td><td>$42,581.45</td><td>$42,581.45</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>2,652,775</td></tr><tr><td>Equities</td><td>1,982,755</td><td>14,700,848</td></tr><tr><td>Total</td><td>$1,982,755</td><td>$17,353,623</td></tr></table>



CLEARED THROUGH ITS
WHOLLY OWNED SUBSDIARY


Bear, Steams Securities Corp.

One Metratech Center North Brooklyn, New York 11201-3859

HERITAGE INTERESTS

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.



01/27/01;13:44 001


EFTA00197547



BEAR
STEARNS


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

4 of 8

## 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>2,652,775</td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$2,652,775</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>54.9380</td><td>6,260,789</td><td>22,792</td><td>0.3640</td></tr><tr><td>PNC FINANCIAL SVCS GROUP INC</td><td>PNC</td><td>CASH</td><td>62,472</td><td>74.3130</td><td>4,642,482</td><td>119,946</td><td>2.5837</td></tr><tr><td>PNC FINANCIAL SVCS GROUP INC</td><td>PNC</td><td>SHRT</td><td>-10,000</td><td>74.3130</td><td>-743,130</td><td>-19,200</td><td>2.5837</td></tr><tr><td>CALL PNC FINL GRP MAY 075 **** EXP 05/19/2001</td><td>PNCEO</td><td>CASH</td><td>-500</td><td>5.6250</td><td>-281,250</td><td></td><td></td></tr><tr><td>TYCO INTERNATIONAL LTD</td><td>TYC</td><td>CASH</td><td>61,128</td><td>62.1250</td><td>3,797,577</td><td>3,056</td><td>0.0805</td></tr><tr><td>TYCO INTERNATIONAL LTD</td><td>TYC</td><td>SHRT</td><td>-11,000</td><td>62.1250</td><td>-683,375</td><td>-550</td><td>0.0805</td></tr><tr><td>CALL TYCO INTL APR 060 **** EXP 04/21/2001</td><td>TYCD60</td><td>CASH</td><td>-500</td><td>5.5000</td><td>-275,000</td><td></td><td></td></tr><tr><td>Total Equities&amp; Options</td><td></td><td></td><td></td><td></td><td>$12,718,093</td><td>$126,044</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$12,718,093</td><td>$126,044</td><td></td></tr></tbody></table>

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$126,046</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$15,370,867</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



Bear, Steams Securities Corp.

One Metrotech Center North Brooklyn, New York 11201-3859

HERITAGE INTERESTS

027



01/27/01;13:44 001


EFTA00197548



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 8**

HERITAGE INTERESTS



Transaction Detail


## INVESTMENT ACTIVITY

<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>01/02/01</td><td>12/29/00</td><td>SOLD</td><td>CALL TYCO INTL JAN 055 **** EXP 01/20/2001 CUSIP NUMBER TO FOLLOW, UNSOLICITED OPEN CONTRACT AS OF 12/29/00</td><td>9021249A6</td><td>-500</td><td>3.10420</td><td></td><td>153,452.34</td></tr><tr><td>01/02/01</td><td>12/29/00</td><td>SOLD</td><td>CALL MEDTRONIC JAN 055 **** EXP 01/20/2001 CUSIP NUMBER TO FOLLOW, UNSOLICITED OPEN CONTRACT</td><td>5850559A6</td><td>-300</td><td>6.46320</td><td></td><td>192,837.03</td></tr><tr><td>01/02/01</td><td>12/29/00</td><td>SOLD</td><td>CALL PNC FINL GRP JAN 070PBW EXP 01/20/2001 CUSIP NUMBER TO FOLLOW, OPEN CONTRACT</td><td>6934759A5</td><td>-500</td><td>4.32920</td><td></td><td>214,700.28</td></tr><tr><td>01/03/01</td><td>01/02/01</td><td>SOLD</td><td>CALL TYCO INTL JAN 050 **** EXP 01/20/2001 UNSOLICITED CUSIP NUMBER TO FOLLOW, OPEN CONTRACT AS OF 01/02/01</td><td>9021249A6</td><td>-210</td><td>4.62500</td><td></td><td>96,384.26</td></tr><tr><td>01/03/01</td><td>01/02/01</td><td>SOLD</td><td>CALL PNC FINL GRP JAN 070PBW EXP 01/20/2001 UNSOLICITED CUSIP NUMBER TO FOLLOW, OPEN CONTRACT</td><td>6934759A5</td><td>-200</td><td>2.71880</td><td></td><td>53,671.68</td></tr><tr><td>01/22/01</td><td>01/19/01</td><td>SOLD</td><td>CALL PNC FINL GRP MAY 075 **** EXP 05/19/2001 UNSOLICITED CUSIP NUMBER TO FOLLOW, OPEN CONTRACT</td><td>QPNCEO</td><td>-500</td><td>4.50000</td><td></td><td>223,240.00</td></tr><tr><td>01/22/01</td><td>01/19/01</td><td>BOUGHT</td><td>CALL TYCO INTL JAN 055 **** EXP 01/20/2001 UNSOLICITED CLOSING CONTRACT</td><td>9021249A6</td><td>500</td><td>6.00000</td><td>301,752.50</td><td></td></tr></tbody></table>

027



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EFTA00197549

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 8

HERITAGE INTERESTS

## **Transaction Detail** (continued)

## INVESTMENT ACTIVITY (continued)

<table><thead><tr><th>SETTLEMENT DATE</th><th>TRADE DATE</th><th>TRANSACTION</th><th>DESCRIPTION</th><th>SYMBOL/CUSP</th><th>QUANTITY</th><th>PRICE</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>01/22/01</td><td>01/19/01</td><td>BOUGHT</td><td>CALL PNC FINL GRP JAN 070PBW<br>EXP 01/20/2001<br>UNSOLICITED<br>OPEN CONTRACT</td><td>6934759A5</td><td>500</td><td>1.43750</td><td>73,627.50</td><td></td></tr><tr><td>01/22/01</td><td>01/19/01</td><td>SOLD</td><td>CALL TVCO INTL APR 060 ****<br>EXP 04/21/2001<br>UNSOLICITED<br>CUSIP NUMBER TO FOLLOW.<br>OPEN CONTRACT</td><td>QTYCD60</td><td>-500</td><td>5.62500</td><td></td><td>279,488.12</td></tr><tr><td>01/22/01</td><td></td><td>JOURNAL</td><td>CALL TVCO INTL JAN 050 ****<br>EXP 01/20/2001<br>AE QTYCA50 ASSIGNED 02331</td><td>9021249A6</td><td>210</td><td></td><td></td><td></td></tr><tr><td>01/22/01</td><td></td><td>JOURNAL</td><td>CALL PNC FINL GRP JAN 070PBW<br>EXP 01/20/2001<br>AE OPNCAN ASSIGNED 01681</td><td>6934759A5</td><td>200</td><td></td><td></td><td></td></tr><tr><td>01/24/01</td><td>01/22/01</td><td>SOLD</td><td>TVCO INTERNATIONAL LTD<br>AE QTYCA50 210 ASSIGNED<br>AS OF 01/22/01</td><td>TYC</td><td>-10,000</td><td>50.00000</td><td></td><td>499,880.83</td></tr><tr><td>01/24/01</td><td>01/22/01</td><td>SOLD</td><td>PNC FINANCIAL SVCS GROUP INC<br>SHORT,<br>AE OPNCAN 200 ASSIGNED<br>AS OF 01/22/01</td><td>PNC</td><td>-10,000</td><td>70.00000</td><td></td><td>699,724.16</td></tr><tr><td>01/24/01</td><td>01/22/01</td><td>SOLD</td><td>PNC FINANCIAL SVCS GROUP INC<br>SHORT,<br>AE OPNCAN 200 ASSIGNED<br>AS OF 01/22/01</td><td>PNC</td><td>-10,000</td><td>70.00000</td><td></td><td>699,876.66</td></tr><tr><td>01/24/01</td><td>01/22/01</td><td>SOLD</td><td>TVCO INTERNATIONAL LTD<br>SHORT,<br>AE QTYCA50 210 ASSIGNED<br>AS OF 01/22/01</td><td>TYC</td><td>-11,000</td><td>50.00000</td><td></td><td>549,704.16</td></tr><tr><td>01/24/01</td><td></td><td>EXPIRED</td><td>CALL MEDTRONIC JAN 055 ****<br>EXP 01/20/2001</td><td>5850559A6</td><td>300</td><td></td><td></td><td></td></tr></tbody></table>



01/27/01;13:44 001


027

EFTA00197550



BEAR
STEARNS


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



CLEARED THROUGH ITS
WHOLLY OWNED SUBSDIARY


Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

7 of 8

HERITAGE INTERESTS

## **Transaction Detail** (continued)

## INVESTMENT ACTIVITY (continued)

<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>01/25/01</td><td>01/22/01</td><td>SOLD</td><td>PNC FINANCIAL SVCS GROUP INC<br>A/E QPNCAN 200 ASSIGNED<br>A/O SD 01/24/01<br>AS OF 01/22/01</td><td>PNC</td><td>-10,000</td><td>70.00000</td><td></td><td>699,874.16</td></tr><tr><td>01/25/01</td><td>01/22/01</td><td>CANCEL SELL</td><td>PNC FINANCIAL SVCS GROUP INC<br>SHORT.<br>A/E QPNCAN 200 ASSIGNED<br>A/O SD 01/24/01<br>AS OF 01/22/01<br>TO CXL PREVIOUS SELL</td><td>PNC</td><td>10,000</td><td>70.00000</td><td>699,874.16</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>01/03/01</td><td>FND WIRED</td><td>COSTODIAL TRUST COMPANY</td><td>7,300,000.00</td><td></td></tr><tr><td>01/04/01</td><td>FND WIRED</td><td>JP MORGAN BANK</td><td>170,000.00</td><td></td></tr><tr><td>01/04/01</td><td>FUNDS REC</td><td>FNDS WIRED TO CITIBANK FROM CTC NJ</td><td></td><td>2,000,000.00</td></tr><tr><td colspan="3">TOTAL</td><td>-7,470,000.00</td><td>$2,000,000.00</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>01/24/01</td><td>PNC FINANCIAL SVCS GROUP INC<br>REC 01/12/01 PAY 01/24/01</td><td>PNC</td><td>72,472</td><td>0.4800</td><td></td><td>34,786.56</td></tr></tbody></table>

027



01/27/01;13:44 001


EFTA00197551



BEAR
STEARNS


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



CLEARED THROUGH ITS
WHOLLY OWNED SUBSDIARY




Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



8 of 8

HERITAGE INTERESTS

## Transaction Detail (continued)



DIVIDENDS (continued)



STATEMENT PERIOD December 30, 2000

THROUGH January 26, 2001

<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>01/26/01</td><td>MEDTRONIC INC<br>REC 01/05/01 PAY 01/26/01</td><td>MDT</td><td>113,961</td><td>0.0500</td><td></td><td>5,698.05</td></tr><tr><td colspan="7">TOTAL</td><td>$40,484.61</td></tr></tbody></table>

| LAST STATEMENT | December 29, 2000 |

| :--- | :--- |



INTEREST


<table border="1"><tr><td>DATE</td><td>DESCRIPTION</td><td>SYMBOL/CUSIP</td><td>QUANTITY</td><td>RATE(%)</td><td>DEBIT AMOUNT</td><td>CREDIT AMOUNT</td></tr><tr><td>01/22/01</td><td>INTEREST ON CREDIT BALANCEAT 6,000% 12/21 THRU 12/28</td><td></td><td></td><td>6.0000</td><td></td><td>109.21</td></tr><tr><td>01/22/01</td><td>INTEREST ON CREDIT BALANCEAT 5 1/2% 01/03 THRU 01/20</td><td></td><td></td><td>5.5000</td><td></td><td>607.42</td></tr><tr><td>01/22/01</td><td>INTEREST ON CREDIT BALANCEAT 6,000% 12/29 THRU 01/02</td><td></td><td></td><td>6.0000</td><td></td><td>1,380.21</td></tr><tr><td colspan="6">TOTAL</td><td>$2,096.84</td></tr></table>

## 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>01/02/01</td><td>JOURNAL</td><td>FR 102-16490PER LOA</td><td></td><td>7,310,706.50</td></tr><tr><td>01/05/01</td><td>JOURNAL</td><td>TO 047-30185 PER LOA/AS OF 1/4/01</td><td>2,600,000.00</td><td></td></tr><tr><td>01/24/01</td><td>JOURNAL</td><td>JOURNAL FROM TYPE 1 TO 2</td><td>624,874.00</td><td></td></tr><tr><td>01/24/01</td><td>JOURNAL</td><td>JOURNAL FROM TYPE 1 TO 2</td><td></td><td>624,874.00</td></tr><tr><td colspan="3">TOTAL</td><td>-3,224,874.00</td><td>$7,935,580.50</td></tr></tbody></table>

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EFTA00197552