EFTA00197701

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| :--- | :--- |

| 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><tr><td>Fund Activity</td><td>6</td></tr></table>









Your Portfolio at a Glance

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



Market Value of Your Portfolio

<table border="1"><tr><td>TOTAL VALUE OF SECURITIES THIS PERIOD</td><td>18,893,636</td></tr><tr><td>NET CREDIT BALANCE</td><td>677,773</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>672,812</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$20,244,221</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>18,475,552</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>1,768,670</td></tr></table>



INSTITUTIONAL INTERESTS A/C #2



| STATEMENT PERIOD | September 28, 2002 |

| :--- | :--- |

| THROUGH | October 25, 2002 |

| LAST STATEMENT | September 27, 2002 |

| :--- | :--- |

TAXPAYER NUMBER On File

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., 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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INSTITUTIONAL INTERESTS A/C #2


STATEMENT BACKER IS PRINTED ON THIS PAGE

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Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$89,122.74</td></tr><tr><td>Securities Sold</td><td>677,690.50</td></tr><tr><td>Money Fund</td><td>1,129,505.61</td></tr><tr><td>Dividends/Interest</td><td>6,309.55</td></tr><tr><td>Amount Credited</td><td>$1,813,505.66</td></tr><tr><td>Securities Bought</td><td>-1,222,349.43</td></tr><tr><td>Money Fund</td><td>-2,505.61</td></tr><tr><td>Amount Debited</td><td>$-1,224,855.04</td></tr><tr><td>Net Cash Activity</td><td>588,650.62</td></tr><tr><td>Closing Balance</td><td>$677,773.36</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>89,122.74</td><td>677,773.36</td></tr><tr><td>Net Cash Balance</td><td>$89,122.74</td><td>$677,773.36</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>8,805.61</td><td>224,294.82</td></tr><tr><td>Credit Balance Int.</td><td>9.55</td><td>2,358.99</td></tr><tr><td>Total</td><td>$8,815.16</td><td>$226,653.81</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>1,350,585</td></tr><tr><td>Equities</td><td>18,893,636</td></tr><tr><td>Total</td><td>$20,244,221</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY







INSTITUTIONAL INTERESTS A/C #2



STATEMENT PERIOD September 28, 2002

| THROUGH | October 25, 2002 |

| :--- | :--- |



ACCOUNT NUMBER



TAXPAYER NUMBER On File

Your Portfolio Allocation

| LAST STATEMENT | September 27, 2002 |

| :--- | :--- |

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

EFTA00197704



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.

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## 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>677,773</td><td></td><td></td></tr><tr><td>BEAR STEARNS PRIME MONEY</td><td>BSMXX</td><td>672,811.82</td><td>1.0000</td><td>672,812</td><td>11,371</td><td>1.6901</td></tr><tr><td>MARKET PORTFOLIO CL Y DIVIDEND REINVESTED</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$1,350,585</td><td>$11,371</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>AOL TIME WARNER INC</td><td>AQL</td><td>CASH</td><td>50,000</td><td>14.7000</td><td>735,000</td><td></td><td></td></tr><tr><td>AMERICAN INTERNATIONAL GROUP INC</td><td>AIG</td><td>CASH</td><td>25,000</td><td>65.4100</td><td>1,635,250</td><td>4,700</td><td>0.2874</td></tr><tr><td>BANK OF AMER CORP</td><td>BAC</td><td>CASH</td><td>30,000</td><td>69.8200</td><td>2,094,600</td><td>76,800</td><td>3.6666</td></tr><tr><td>CITIGROUP INC</td><td>C</td><td>CASH</td><td>27,375</td><td>35.7000</td><td>977,288</td><td>19,710</td><td>2.0168</td></tr><tr><td>GOLDMAN SACHS GROUP INC</td><td>GS</td><td>CASH</td><td>12,000</td><td>73.9900</td><td>887,880</td><td>5,760</td><td>0.6487</td></tr><tr><td>INTERNATIONAL BUSINESS MACHINES CORP</td><td>IBM</td><td>CASH</td><td>20,000</td><td>74.5600</td><td>1,491,200</td><td>12,000</td><td>0.8047</td></tr><tr><td>JOHNSON&amp; JOHNSON</td><td>JNJ</td><td>CASH</td><td>50,000</td><td>57.7600</td><td>2,888,000</td><td>41,000</td><td>1.4197</td></tr><tr><td>MBNA CORP</td><td>KRB</td><td>CASH</td><td>90,000</td><td>19.8900</td><td>1,790,100</td><td>25,200</td><td>1.4077</td></tr><tr><td>PFIZER INC</td><td>PFE</td><td>CASH</td><td>75,000</td><td>31.9000</td><td>2,392,500</td><td>39,000</td><td>1.6301</td></tr><tr><td>PROCTER &amp; GAMBLE CO</td><td>PG</td><td>CASH</td><td>25,000</td><td>88.7000</td><td>2,217,500</td><td>41,000</td><td>1.8489</td></tr><tr><td>TYCO INTERNATIONAL LTD</td><td>TYC</td><td>CASH</td><td>50,000</td><td>15.4000</td><td>770,000</td><td>2,500</td><td>0.3247</td></tr></tbody></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY







INSTITUTIONAL INTERESTS A/C #2



STATEMENT PERIOD September 28, 2002

| THROUGH | October 25, 2002 |

| :--- | :--- |

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | September 27, 2002 |

| :--- | :--- |

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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.

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## Your Portfolio Holdings (continued)

Equities & Options (continued)

<table border="1"><tr><td>DESCRIPTION</td><td>SYMBOL/CUSIP</td><td>ACCT TYPE</td><td>QUANTITY</td><td>PRICE</td><td>MARKET VALUE</td><td>ESTIMATED ANNUAL INCOME</td><td>CURRENT YIELD(%)</td></tr><tr><td>VIACOM INC-CL B</td><td>VIAB</td><td>CASH</td><td>22,200</td><td>45.6900</td><td>1,014,318</td><td></td><td></td></tr><tr><td>Total Equities&amp;Options</td><td></td><td></td><td></td><td></td><td>$18,893,636</td><td>$267,670</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$18,893,636</td><td>$267,670</td><td></td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$279,041</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$20,244,221</td></tr></table>



## INVESTMENT ACTIVITY



Transaction Detail




INSTITUTIONAL INTERESTS A/C #2



STATEMENT PERIOD September 28, 2002



ACCOUNT NUMBER



| THROUGH | October 25, 2002 |

| :--- | :--- |

TAXPAYER NUMBER On File

| LAST STATEMENT | September 27, 2002 |

| :--- | :--- |

<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>10/07/02</td><td>10/02/02</td><td>BOUGHT</td><td>AMERICAN INTERNATIONAL GROUP INC DISCRETIONARY ORDER</td><td>AIG</td><td>5,000</td><td>57.35000</td><td>288,519.93</td><td></td></tr><tr><td>10/07/02</td><td>10/02/02</td><td>BOUGHT</td><td>BANK OF AMER CORP DISCRETIONARY ORDER</td><td>BAC</td><td>5,000</td><td>64.36000</td><td>323,729.97</td><td></td></tr><tr><td>10/07/02</td><td>10/02/02</td><td>BOUGHT</td><td>INTERNATIONAL BUSINESS MACHINES CORP DISCRETIONARY ORDER</td><td>IBM</td><td>10,000</td><td>60.66000</td><td>610,099.53</td><td></td></tr></tbody></table>

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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY





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INSTITUTIONAL INTERESTS A/C #2



## **Transaction Detail** (continued)

STATEMENT PERIOD September 28, 2002

## INVESTMENT ACTIVITY (continued)

| THROUGH | October 25, 2002 |

| :--- | :--- |

<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>10/24/02</td><td>10/21/02</td><td>SOLD</td><td>VIACOM INC-CL B<br>AVG PRICE SHOWN-DETAILS ON REQ<br>ACTUAL CONFIRM TO YOUR AGENT<br>DISCRETIONARY ORDER<br>AS OF 10/21/02</td><td>VIAB</td><td>-14,800</td><td>46.06840</td><td></td><td>677,690.50</td></tr></tbody></table>

<table border="1"><tr><td>TOTAL</td><td>-1,222,349.43</td><td>$677,690.50</td></tr></table>

## MONEY FUND ACTIVITY

<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>09/28/02</td><td></td><td>OPENINGBALANCE</td><td></td><td>1,797,306.21</td><td></td><td></td><td></td></tr><tr><td>10/01/02</td><td>DIVIDEND</td><td>BEAR STEARNS PRIME MONEY<br>MARKET PORTFOLIO CL Y<br>RECORD 09/30/02 PAY 09/30/02</td><td>BSMXX</td><td></td><td></td><td></td><td>2,505.61</td></tr><tr><td>10/01/02</td><td>REINVEST</td><td>BEAR STEARNS PRIME MONEY<br>MARKET PORTFOLIO CL Y<br>REINVEST PRICE $ 1,00</td><td>BSMXX</td><td>2,505.61</td><td></td><td>2,505.61</td><td></td></tr><tr><td>10/07/02</td><td>SOLD</td><td>BEAR STEARNS PRIME MONEY<br>MARKET PORTFOLIO CL Y</td><td>BSMXX</td><td>-1,127,000</td><td>1.0000</td><td></td><td>1,127,000.00</td></tr><tr><td>10/25/02</td><td></td><td>CLOSINGBALANCE</td><td></td><td>672,811.82</td><td></td><td></td><td></td></tr><tr><td colspan="4">TOTAL</td><td></td><td></td><td>-$-2,505.61</td><td>$1,129,505.61</td></tr></tbody></table>

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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.



CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY



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INSTITUTIONAL INTERESTS A/C #2



## **Transaction Detail** (continued)

STATEMENT PERIOD September 28, 2002

## 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 rowspan="2">10/01/02</td><td>MBNA CORP</td><td>KRB</td><td>90,000</td><td>0.0700</td><td></td><td>6,300.00</td></tr><tr><td>REC 09/16/02 PAY 10/01/02</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="5">TOTAL</td><td></td><td>$6,300.00</td></tr></tbody></table>

| THROUGH | October 25, 2002 |

| :--- | :--- |

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | September 27, 2002 |

| :--- | :--- |



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>10/21/02</td><td>INTEREST ON CREDIT BALANCE AT 0 1/4% 09/21 THRU 10/20</td><td></td><td></td><td>0.2500</td><td></td><td>9.55</td></tr><tr><td>TOTAL</td><td></td><td></td><td></td><td></td><td></td><td>$9.55</td></tr></tbody></table>





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


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