## Statements

EFTA00197608

OFFICE SERVICING YOUR ACCOUNT

Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY


| **ACCOUNT EXECUTIVE** | GREENBERG,ALAN C. |

| :--- | :--- |

| TELEPHONE | (212)272-4605 |

| VISIT OUR WEBSITE | www.bearstearns.com |

Financial Summary 3

Your Portfolio Holdings 4

Transaction Detail ... 5

## What’s In This Statement

Your Messages ... 7





# INSTITUTIONAL INTERESTS A/C #2

C/O FINANCIAL TRUST COMPANY

ATTN LARRY KEMP

*

6100 RED HOOK QUARTER

SUITE B-3

ST THOMAS VI 00802



Bear, Stearns Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859





INSTITUTIONAL INTERESTS A/C #2



STATEMENT PERIOD December 1, 2001

ACCOUNT NUMBER

THROUGH December 31, 2001

TAXPAYER NUMBER On File

| LAST STATEMENT | November 30, 2001 |

| :--- | :--- |

Your Portfolio at a Glance

<table border="1"><tr><td>TOTAL VALUE OF SECURITIES THIS PERIOD</td><td>21,096,865</td></tr><tr><td>NET CREDIT BALANCE</td><td>1,309,037</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$22,405,902</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>22,315,774</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>90,128</td></tr></table>

Market Value of Your Portfolio

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

## Important Message

If any information regarding 2001 interest, dividends, miscellaneous income, gross proceeds or original issue discount is required to be reported to the IRS for this account, a Consolidated Form 1099 will be mailed to you by January 31, 2002 or 1042S by March 15, 2002.

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 slide for important information.

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EFTA00197609



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY




2 of 7


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

STATEMENT BACKER IS PRINTED ON THIS PAGE



INSTITUTIONAL INTERESTS A/C #2


027

EFTA00197610



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179

3 of 7

## Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$22,074.32</td></tr><tr><td>Securities Sold</td><td>1,246,916.68</td></tr><tr><td>Dividends/Interest</td><td>40,046.42</td></tr><tr><td>Amount Credited</td><td>$1,286,963.10</td></tr><tr><td>Net Cash Activity</td><td>1,286,963.10</td></tr><tr><td>Closing Balance</td><td>$1,309,037.42</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>22,074.32</td><td>1,309,037.42</td></tr><tr><td>Net Cash Balance</td><td>$22,074.32</td><td>$1,309,037.42</td></tr></table>

Income Summary

<table><thead><tr><th></th><th>THIS PERIOD</th><th>YEAR TO DATE</th></tr></thead><tbody><tr><td>Dividends</td><td>40,010.00</td><td>308,515.00</td></tr><tr><td>Credit Balance Int.</td><td>36.42</td><td>8,239.66</td></tr><tr><td>Total</td><td>$40,046.42</td><td>$316,754.66</td></tr></tbody></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>1,309,037</td></tr><tr><td>Equities</td><td>21,096,865</td></tr><tr><td>Total</td><td>$22,405,902</td></tr></table>

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS A/C #2


STATEMENT PERIOD December 1, 2001

THROUGH December 31, 2001



ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | November 30, 2001 |

| :--- | :--- |

Your Portfolio Allocation



01/03/02;08:34 001


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

EFTA00197611



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179

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><th>CURRENT YIELD (%)</th></tr></thead><tbody><tr><td>CASH BALANCE</td><td></td><td></td><td></td><td>1,309,037</td><td></td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$1,309,037</td><td></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>AMERICAN HOME PRODUCTS CORP</td><td>AHP</td><td>CASH</td><td>24,000</td><td>61.3600</td><td>1,472,640</td><td>22,080</td><td>1.4993</td></tr><tr><td>AMERICAN INTERNATIONAL GROUP INC</td><td>AIG</td><td>CASH</td><td>20,000</td><td>79.4000</td><td>1,588,000</td><td>3,360</td><td>0.2116</td></tr><tr><td>BANK OF AMER CORP</td><td>BAC</td><td>CASH</td><td>25,000</td><td>62.9500</td><td>1,573,750</td><td>60,000</td><td>3.8125</td></tr><tr><td>CITIGROUP INC</td><td>C</td><td>CASH</td><td>15,000</td><td>50.4800</td><td>757,200</td><td>9,600</td><td>1.2678</td></tr><tr><td>GOLDMAN SACHS GROUP INC</td><td>GS</td><td>CASH</td><td>12,000</td><td>92.7500</td><td>1,113,000</td><td>5,760</td><td>0.5175</td></tr><tr><td>INTERNATIONAL BUSINESS MACHINES CORP</td><td>IBM</td><td>CASH</td><td>10,000</td><td>120.9600</td><td>1,209,600</td><td>5,600</td><td>0.4630</td></tr><tr><td>JP MORGAN CHASE &amp; CO</td><td>JPM</td><td>CASH</td><td>37,500</td><td>36.3500</td><td>1,363,125</td><td>51,000</td><td>3.7414</td></tr><tr><td>JOHNSON&amp; JOHNSON</td><td>JNJ</td><td>CASH</td><td>50,000</td><td>59.1000</td><td>2,955,000</td><td>36,000</td><td>1.2183</td></tr><tr><td>MBNA CORP</td><td>KRB</td><td>CASH</td><td>70,000</td><td>35.2000</td><td>2,464,000</td><td>25,200</td><td>1.0227</td></tr><tr><td>PFIZER INC</td><td>PFE</td><td>CASH</td><td>75,000</td><td>39.8500</td><td>2,988,750</td><td>39,000</td><td>1.3049</td></tr><tr><td>PROCTER &amp; GAMBLE CO</td><td>PG</td><td>CASH</td><td>25,000</td><td>79.1300</td><td>1,978,250</td><td>38,000</td><td>1.9209</td></tr><tr><td>VIACOM INC-CL B</td><td>VIAB</td><td>CASH</td><td>37,000</td><td>44.1500</td><td>1,633,550</td><td></td><td></td></tr><tr><td>Total Equities&amp; Options</td><td></td><td></td><td></td><td></td><td>$21,096,865</td><td>$295,600</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$21,096,865</td><td>$295,600</td><td></td></tr></tbody></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS A/C #2



STATEMENT PERIOD December 1, 2001

THROUGH December 31, 2001

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | November 30, 2001 |

| :--- | :--- |

027



01/03/02;08:34 001


EFTA00197612



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179



CLEARED THROUGH ITS
CLEARLY WOUNDED SUBSIDIARY



5 of 7

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS A/C #2



## Your Portfolio Holdings (continued)

STATEMENT PERIOD December 1, 2001

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$295,600</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$22,405,902</td></tr></table>

THROUGH December 31, 2001

ACCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | November 30, 2001 |

| :--- | :--- |



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>12/18/01</td><td>12/13/01</td><td>SOLD</td><td>BRISTOL MYERS SQUIBB CO<br>WITH RIGHTS TO PURCHASE PREFRD<br>STK UNDER CERTAIN CIRCUMSTANCE</td><td>BMY</td><td>-25,000</td><td>50.16890</td><td></td><td>1,246,916.68</td></tr><tr><td colspan="7">TOTAL</td><td colspan="2">$1,246,916.68</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>12/03/01</td><td>AMERICAN HOME PRODUCTS CORP<br>REC 11/13/01 PAY 12/01/01</td><td>AHP</td><td>24,000</td><td>0.2300</td><td></td><td>5,520.00</td></tr><tr><td>12/06/01</td><td>PFIZER INC<br>REC 11/16/01 PAY 12/06/01</td><td>PFE</td><td>75,000</td><td>0.1100</td><td></td><td>8,250.00</td></tr></tbody></table>

027



01/03/02;08:34 001


EFTA00197613



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY




Bear, Steams Securities Corp.

One Metratech Center North

Brooklyn, New York 11201-3859



6 of 7



INSTITUTIONAL INTERESTS A/C #2



## **Transaction Detail** (continued)

DIVIDENDS (continued)

STATEMENT PERIOD December 1, 2001

THROUGH December 31, 2001

ACCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | November 30, 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>12/11/01</td><td>INTERNATIONAL BUSINESS MACHINES CORP REC 11/09/01 PAY 12/10/01</td><td>IBM</td><td>10,000</td><td>0.1400</td><td></td><td>1,400.00</td></tr><tr><td>12/11/01</td><td>JOHNSON &amp; JOHNSON REC 11/20/01 PAY 12/11/01</td><td>JNJ</td><td>50,000</td><td>0.1800</td><td></td><td>9,000.00</td></tr><tr><td>12/21/01</td><td>AMERICAN INTERNATIONAL GROUP INC REC 12/07/01 PAY 12/21/01</td><td>AIG</td><td>20,000</td><td>0.0420</td><td></td><td>840.00</td></tr><tr><td>12/28/01</td><td>BANK OF AMER CORP REC 12/07/01 PAY 12/28/01</td><td>BAC</td><td>25,000</td><td>0.6000</td><td></td><td>15,000.00</td></tr><tr><td colspan="6">TOTAL</td><td>$40,010.00</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>12/21/01</td><td>INTEREST ON CREDIT BALANCE AT 0 1/2% 11/21 THRU 12/10</td><td></td><td></td><td>0.5000</td><td></td><td>7.23</td></tr><tr><td>12/21/01</td><td>INTEREST ON CREDIT BALANCE AT 0 1/4% 12/11 THRU 12/20</td><td></td><td></td><td>0.2500</td><td></td><td>29.19</td></tr><tr><td colspan="6">TOTAL</td><td>$36.42</td></tr></tbody></table>

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EFTA00197614



BEAR
STEARNS




OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179


7 of 7

## Your messages



As part of the National Association of Securities Dealer's (NASD) Investor Education Program, you may obtain information on the NASD's Public Disclosure Program by contacting the NASD at telephone number (800) 289-9999 or via the internet address which is www.nasdr.com. In addition, a brochure explaining the Public Disclosure Program is available from the NASD upon request.





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





CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY





Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859





INSTITUTIONAL INTERESTS A/C #2



STATEMENT PERIOD December 1, 2001

THROUGH December 31, 2001

ACCOUNT NUMBER

| LAST STATEMENT | November 30, 2001 |

| :--- | :--- |

TAXPAYER NUMBER On File

027



01/03/02;08:34 001