Bear Stearns brokerage statement for an institutional interests account, Aug. 2002

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| ACCOUNT EXECUTIVE | GREENBERG,ALAN C. |¶

| TELEPHONE | |¶

| VISIT OUR WEBSITE | www.bearstearns.com |¶

What’s In This Statement¶

Financial Summary	3
Your Portfolio Holdings	4
Transaction Detail	5
Fund Activity	7

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

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¶

TOTAL VALUE OF SECURITIES THIS PERIOD	17,739,581
NET CREDIT BALANCE	51,671
MONEY MARKET FUND BALANCE	1,794,478
NET EQUITY THIS PERIOD	$19,585,730
NET EQUITY LAST STATEMENT	17,673,826
CHANGE SINCE LAST STATEMENT	1,911,904

INSTITUTIONAL INTERESTS A/C #2¶

| STATEMENT PERIOD | July 27, 2002 |¶

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| THROUGH | August 30, 2002 |¶

| LAST STATEMENT | July 26, 2002 |¶

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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.¶

SIPC	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¶

	THIS PERIOD
OpeningBalance	$1,035,294.02
Securities Sold	65,545.86
Money Fund	213,549.14
Dividends/Interest	16,826.29
Miscellaneous	27.90
Amount Credited	$295,949.19
Securities Bought	-1,276,540.62
Money Fund	-3,031.14
Amount Debited	$-1,279,571.76
Net Cash Activity	-983,622.57
Closing Balance	$51,671.45

Cash Balance Summary¶

	OPENING	CLOSING
Cash	1,035,294.02	51,671.45
Net Cash Balance	$1,035,294.02	$51,671.45

Income Summary¶

	THIS PERIOD	YEAR TO DATE
Dividends	19,648.64	175,220.54
Credit Balance Int.	208.79	2,338.15
Total	$19,857.43	$177,558.69

Portfolio Composition¶

Cash/Cash Equivalent	1,846,149
Equities	17,739,581
Total	$19,585,730

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

INSTITUTIONAL INTERESTS A/C #2¶

STATEMENT PERIOD July 27, 2002¶

THROUGH August 30, 2002¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

Your Portfolio Allocation¶

| LAST STATEMENT | July 26, 2002 |¶

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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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BEAR STEARNS¶

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

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Your Portfolio Holdings¶

CASH & CASH EQUIVALENTS¶

DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENТ YIELD (%)
CASH BALANCE				51,671
BEAR STEARNS PRIME MONEY MARKET PORTFOLIO CL Y DIVIDEND REINVESTED	BSMXX	1,794,477.54	1.0000	1,794,478	30,506	1.7000
TOTAL CASH & CASH EQUIVALENTS				$1,846,149	$30,506

EQUITIES¶

Equities & Options¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
AOL TIME WARNER INC	AOL	CASH	50,000	12.6500	632,500
AMERICAN INTERNATIONAL GROUP INC	AIG	CASH	20,000	62.8000	1,256,000	3,760	0.2994
BANK OF AMER CORP	BAC	CASH	25,000	70.0800	1,752,000	60,000	3.4247
CITIGROUP INC	C	CASH	27,375	32.7500	896,531	19,710	2.1985
GOLDMAN SACHS GROUP INC	GS	CASH	12,000	77.3000	927,600	5,760	0.6210
INTERNATIONAL BUSINESS MACHINES CORP	IBM	CASH	10,000	75.3800	753,800	6,000	0.7960
JOHNSON & JOHNSON	JNJ	CASH	50,000	54.3100	2,715,500	41,000	1.5099
MBNA CORP	KRB	CASH	90,000	20.2000	1,818,000	25,200	1.3861
PFIZER INC	PFE	CASH	75,000	33.0800	2,481,000	39,000	1.5719
PROCTER & GAMBLE CO	PG	CASH	25,000	88.6500	2,216,250	41,000	1.8500
TYCO INTERNATIONAL LTD	TYC	CASH	50,000	15.6900	784,500	2,500	0.3187

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

INSTITUTIONAL INTERESTS A/C #2¶

STATEMENT PERIOD July 27, 2002¶

| THROUGH | August 30, 2002 |¶

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AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | July 26, 2002 |¶

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

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Your Portfolio Holdings (continued)¶

Equities & Options (continued)¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD(%)
VIACOM INC-CL B	VIAB	CASH	37,000	40.7000	1,505,900
Total Equities&Options					$17,739,581	$243,930
TOTAL EQUITIES					$17,739,581	$243,930

YOUR TOTAL ESTIMATED ANNUAL INCOME	$274,436
YOUR PRICED PORTFOLIOHOLDINGS	$19,585,730

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

INVESTMENT ACTIVITY¶

Transaction Detail¶

INSTITUTIONAL INTERESTS A/C #2¶

STATEMENT PERIOD July 27, 2002¶

ACCOUNT NUMBER¶

THROUGH August 30, 2002¶

TAXPAYER NUMBER On File¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
08/20/02	08/15/02	BOUGHT	AOL TIME WARNER INC DISCRETIONARY ORDER	AOL	50,000	12.00000	605,621.90
08/20/02	08/15/02	BOUGHT	TYCO INTERNATIONAL LTD DISCRETIONARY ORDER	TYC	50,000	13.30000	670,918.72
08/20/02	08/20/02	SOLD	TRAVELERS PROPERTY CASUALTY CORP CLASS B WHEN, AS & IF ISSUED DISCRETIONARY ORDER	TAPB	-2,429	18.74000

| LAST STATEMENT | July 26, 2002 |¶

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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶

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INSTITUTIONAL INTERESTS A/C #2¶

Transaction Detail (continued)¶

STATEMENT PERIOD July 27, 2002¶

| THROUGH | August 30, 2002 |¶

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INVESTMENT ACTIVITY (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | July 26, 2002 |¶

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SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
08/21/02	08/20/02		TRAVELERS PROPERTY CASUALTY CORP CLASS B WHEN-ISSUE RESCINDED DISCRETIONARY ORDER TO CXL PREVIOUS SELL	TAPB	2,429	18.74000
08/21/02	08/20/02	SOLD	TRAVELERS PROPERTY CASUALTY CORP CLASS B WHEN, AS & IF ISSUED DISCRETIONARY ORDER AS OF 08/20/02	TAPB	-2,429	18.74000
08/23/02	08/20/02	SOLD	TRAVELERS PROPERTY CASUALTY CORP CL A DISCRETIONARY ORDER	TAPA	-1,182	17.25000		20,270.68
08/26/02	08/21/02	BOUGHT	TRAVELERS PROPERTY CASUALTY CORP CL A SPINOFF ON 27375 SHS CITIGROUP INC SPINOFF FROM SEC # C007878 REC 08/09/02 PAY 08/20/02	TAPA	1,182
08/26/02	08/21/02	BOUGHT	TRAVELERS PROPERTY CASUALTY CORP CLASS B SPINOFF ON 27375 SHS CITIGROUP INC SPINOFF FROM SEC # C007878 REC 08/09/02 PAY 08/20/02	TAPB	2,429
08/26/02	08/20/02	SOLD	TRAVELERS PROPERTY CASUALTY CORP CLASS B WHEN-ISSUE EXTENDED DISCRETIONARY ORDER AS OF 08/20/02	TAPB	-2,429	18.74000		45,275.18
TOTAL						-$1,276,540.62	$65,545.86

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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 July 27, 2002¶

| THROUGH | August 30, 2002 |¶

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MONEY FUND ACTIVITY¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | July 26, 2002 |¶

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DATE MO/DAY	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
07/27/02		OPENINGBALANCE		2,001,964.40
08/01/02	DIVIDEND	BEAR_STEARNS PRIME MONEY MARKET PORTFOLIO CL Y RECORD 07/31/02 PAY 07/31/02	BSMXX				3,031.14
08/01/02	REINVEST	BEAR_STEARNS PRIME MONEY MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00	BSMXX	3,031.14		3,031.14
08/22/02	SOLD	BEAR_STEARNS PRIME MONEY MARKET PORTFOLIO CL Y	BSMXX	-210,518	1.0000		210,518.00
08/30/02		CLOSINGBALANCE		1,794,477.54
TOTAL						-3,031.14	$213,549.14

DIVIDENDS¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE ($)	DEBIT AMOUNT	CREDIT AMOUNT
08/15/02	PROCTER & GAMBLE CO REC 07/19/02 PAY 08/15/02	PG	25,000	0.4100		10,250.00
08/23/02	CITIGROUP INC REC 08/05/02 PAY 08/23/02	C	27,375	0.1800		4,927.50
08/29/02	GOLDMAN SACHS GROUP INC REC 07/30/02 PAY 08/29/02	GS	12,000	0.1200		1,440.00
TOTAL						$16,617.50

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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 July 27, 2002¶

INTEREST¶

THROUGH August 30, 2002¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
08/21/02	INTEREST ON CREDIT BALANCE AT 0 1/4% 07/21 THRU 08/20			0.2500		208.79
TOTAL						$208.79

| LAST STATEMENT | July 26, 2002 |¶

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MISCELLANEOUS¶

DATE MO/DAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
08/30/02	CASH-LIEU	TRAVELERS PROPERTY CASUALTY CORP CL A CASH IN LIEU OF .71767 CITIGROUP INC REC 08/09/02 PAY 08/20/02 SPINOFF FROM SEC # C007878		11.44
08/30/02	CASH-LIEU	TRAVELERS PROPERTY CASUALTY CORP CLASS B CASH IN LIEU OF .95817 CITIGROUP INC REC 08/08/02 PAY 08/20/02 SPINOFF FROM SEC # C007878		16.46
TOTAL				$27.90

******* End of Statement*******¶

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