EFTA00197615

OFFICE SERVICING YOUR ACCOUNT

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

| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | GREENBERG,ALAN C. |

| 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></table>







CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



# 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, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

## 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>22,293,700</td></tr><tr><td>NET CREDIT BALANCE</td><td>22,074</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$22,315,774</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>21,659,264</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>656,510</td></tr></table>

TAXPAYER NUMBER On File

| LAST STATEMENT | October 26, 2001 |

| :--- | :--- |

Market Value of Your Portfolio

ACCOUNT NUMBER



INSTITUTIONAL INTERESTS A/C #2



STATEMENT PERIOD October 27,2001

THROUGH November 30, 2001

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

STATEMENT BACKER IS PRINTED ON THIS PAGE



INSTITUTIONAL INTERESTS A/C #2


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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

3 of 6

## Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$162,339.12</td></tr><tr><td>Dividends/Interest</td><td>32,819.69</td></tr><tr><td>Amount Credited</td><td>$32,819.69</td></tr><tr><td>Securities Bought</td><td>-173,084.49</td></tr><tr><td>Amount Debited</td><td>$-173,084.49</td></tr><tr><td>Net Cash Activity</td><td>-140,264.80</td></tr><tr><td>ClosingBalance</td><td>$22,074.32</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>162,339.12</td><td>22,074.32</td></tr><tr><td>Net Cash Balance</td><td>$162,339.12</td><td>$22,074.32</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>32,725.00</td><td>268,505.00</td></tr><tr><td>Credit Balance Int.</td><td>94.69</td><td>8,203.24</td></tr><tr><td>Total</td><td>$32,819.69</td><td>$276,708.24</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>22,074</td></tr><tr><td>Equities</td><td>22,293,700</td></tr><tr><td>Total</td><td>$22,315,774</td></tr></table>

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS A/C #2



| STATEMENT PERIOD | October 27, 2001 |
| :--- | :--- |
| THROUGH | November 30, 2001 |



ACCOUNT NUMBER



Your Portfolio Allocation

TAXPAYER NUMBER On File

| LAST STATEMENT | October 26, 2001 |

| :--- | :--- |

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

EFTA00197618



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

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><th>CURRENT YIELD (%)</th></tr></thead><tbody><tr><td>CASH BALANCE</td><td></td><td></td><td></td><td>22,074</td><td></td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$22,074</td><td></td><td></td></tr></tbody></table>

## EQUITIES

Equities & Options

<table><thead><tr><th>DESCRIPTION</th><th>SYMBOL/CUSIP</th><th>ACT 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>60.1000</td><td>1,442,400</td><td>22,080</td><td>1.5308</td></tr><tr><td>AMERICAN INTERNATIONAL GROUP INC</td><td>AIG</td><td>CASH</td><td>20,000</td><td>82.4000</td><td>1,648,000</td><td>3,360</td><td>0.2039</td></tr><tr><td>BANK OF AMER CORP</td><td>BAC</td><td>CASH</td><td>25,000</td><td>61.3800</td><td>1,534,500</td><td>60,000</td><td>3.9101</td></tr><tr><td>BRISTOL MYERS SQUIBB CO</td><td>BMY</td><td>CASH</td><td>25,000</td><td>53.7600</td><td>1,344,000</td><td>27,500</td><td>2.0461</td></tr><tr><td>CITIGROUP INC</td><td>C</td><td>CASH</td><td>15,000</td><td>47.9000</td><td>718,500</td><td>9,600</td><td>1.3361</td></tr><tr><td>GOLDMAN SACHS GROUP INC</td><td>GS</td><td>CASH</td><td>12,000</td><td>88.9000</td><td>1,066,800</td><td>5,760</td><td>0.5399</td></tr><tr><td>INTERNATIONAL BUSINESS MACHINES CORP</td><td>IBM</td><td>CASH</td><td>10,000</td><td>115.5900</td><td>1,155,900</td><td>5,600</td><td>0.4845</td></tr><tr><td>JP MORGAN CHASE &amp; CO</td><td>JPM</td><td>CASH</td><td>37,500</td><td>37.7200</td><td>1,414,500</td><td>51,000</td><td>3.6055</td></tr><tr><td>JOHNSON&amp; JOHNSON</td><td>JNJ</td><td>CASH</td><td>50,000</td><td>58.2500</td><td>2,912,500</td><td>36,000</td><td>1.2361</td></tr><tr><td>MBNA CORP</td><td>KRB</td><td>CASH</td><td>70,000</td><td>32.2400</td><td>2,256,800</td><td>25,200</td><td>1.1166</td></tr><tr><td>PFIZER INC</td><td>PFE</td><td>CASH</td><td>75,000</td><td>43.3100</td><td>3,248,250</td><td>33,000</td><td>1.0159</td></tr><tr><td>PROCTER &amp; GAMBLE CO</td><td>PG</td><td>CASH</td><td>25,000</td><td>77.4600</td><td>1,936,500</td><td>38,000</td><td>1.9623</td></tr><tr><td>VIACOM INC-CL B</td><td>VIAB</td><td>CASH</td><td>37,000</td><td>43.6500</td><td>1,615,050</td><td></td><td></td></tr><tr><td>Total Equities&amp; Options</td><td></td><td></td><td></td><td></td><td>$22,293,700</td><td>$317,100</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$22,293,700</td><td>$317,100</td><td></td></tr></tbody></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



Bear, Steams Securities Corp.

One Meterotech Center North Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS A/C #2



STATEMENT PERIOD October 27,2001

THROUGH November 30, 2001

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | October 26, 2001 |

| :--- | :--- |

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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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



CLEARED THROUGH ITS
CLEARLY WOUNDED SUBSIDIARY



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

5 of 6



INSTITUTIONAL INTERESTS A/C #2



## Your Portfolio Holdings (continued)

STATEMENT PERIOD October 27,2001

THROUGH November 30, 2001

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$317,100</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$22,315,774</td></tr></table>

TAXPAYER NUMBER On File

| LAST STATEMENT | October 26, 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>11/13/01</td><td>11/07/01</td><td>BOUGHT</td><td>GOLDMAN SACHS GROUP INC UNSOLICITED</td><td>GS</td><td>2,000</td><td>86.00000</td><td>173,084.49</td><td></td></tr><tr><td colspan="5">TOTAL</td><td></td><td></td><td>-173,084.49</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>10/31/01</td><td>J P MORGAN CHASE &amp; CO<br>REC 10/05/01 PAY 10/31/01</td><td>JPM</td><td>37,500</td><td>0.3400</td><td></td><td>12,750.00</td></tr><tr><td>11/01/01</td><td>BRISTOL MYERS SQUIBB CO<br>REC 10/05/01 PAY 11/01/01</td><td>BMY</td><td>25,000</td><td>0.2750</td><td></td><td>6,875.00</td></tr></tbody></table>

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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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



CLEARED THROUGH ITS
CLEARLY WOUNDED SUBSIDIARY



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

6 of 6



INSTITUTIONAL INTERESTS A/C #2



## **Transaction Detail** (continued)

STATEMENT PERIOD October 27,2001

DIVIDENDS (continued)

THROUGH November 30, 2001

ACCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | October 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>11/15/01</td><td>PROCTER &amp; GAMBLE CO<br>REC 10/19/01 PAY 11/15/01</td><td>PG</td><td>25,000</td><td>0.3800</td><td></td><td>9,500.00</td></tr><tr><td>11/21/01</td><td>CITIGROUP INC<br>REC 11/05/01 PAY 11/21/01</td><td>C</td><td>15,000</td><td>0.1600</td><td></td><td>2,400.00</td></tr><tr><td>11/26/01</td><td>GOLDMAN SACHS GROUP INC<br>REC 10/29/01 PAY 11/26/01</td><td>GS</td><td>10,000</td><td>0.1200</td><td></td><td>1,200.00</td></tr><tr><td colspan="7">TOTAL</td><td>$32,725.00</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>11/21/01</td><td>INTEREST ON CREDIT BALANCE AT 0 1/2% 11/06 THRU 11/20</td><td></td><td></td><td>0.5000</td><td></td><td>19.47</td></tr><tr><td>11/21/01</td><td>INTEREST ON CREDIT BALANCE AT 1,000% 10/21 THRU 11/05</td><td></td><td></td><td>1.0000</td><td></td><td>75.22</td></tr><tr><td colspan="6">TOTAL</td><td>$94.69</td></tr></tbody></table>



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


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