Bear Stearns brokerage statement for an institutional holdings account, June 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	6

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	18,109,771
NET CREDIT BALANCE	207,043
MONEY MARKET FUND BALANCE	2,000,000
NET EQUITY THIS PERIOD	$20,316,814
NET EQUITY LAST STATEMENT	21,568,112
CHANGE SINCE LAST STATEMENT	-1,251,298

INSTITUTIONAL INTERESTS A/C #2¶

| STATEMENT PERIOD | June 1, 2002 |¶

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| THROUGH | June 28, 2002 |¶

| LAST STATEMENT | May 31, 2002 |¶

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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	$1,446,139.08
Securities Sold	717,799.46
Dividends/Interest	43,104.72
Amount Credited	$760,904.18
Money Fund	-2,000,000.00
Amount Debited	$-2,000,000.00
Net Cash Activity	-1,239,095.82
Closing Balance	$207,043.26

Cash Balance Summary¶

	OPENING	CLOSING
Cash	1,446,139.08	207,043.26
Net Cash Balance	$1,446,139.08	$207,043.26

Income Summary¶

	THIS PERIOD	YEAR TO DATE
Dividends	42,860.00	147,607.50
Credit Balance Int.	244.72	2,056.48
Total	$43,104.72	$149,663.98

Portfolio Composition¶

Cash/Cash Equivalent	2,207,043
Equities	18,109,771
Total	$20,316,814

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

STATEMENT PERIOD June 1, 2002¶

INSTITUTIONAL INTERESTS A/C #2¶

THROUGH June 28, 2002¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | May 31, 2002 |¶

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Your Portfolio Allocation¶

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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				207,043
BEAR STEARNS PRIME MONEY	BSMXX	2,000,000	1.0000	2,000,000	35,600	1.7800
MARKET PORTFOLIO CL Y DIVIDEND REINVESTED
TOTAL CASH & CASH EQUIVALENTS				$2,207,043	$35,600

EQUITIES¶

Equities & Options¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURREN YIELD ($)
AMERICAN INTERNATIONAL GROUP INC	AIG	CASH	20,000	68.2300	1,364,600	3,760	0.2755
BANK OF AMER CORP	BAC	CASH	25,000	70.3600	1,759,000	60,000	3.4110
CITIGROUP INC	C	CASH	27,375	38.7500	1,060,781	19,710	1.8581
GOLDMAN SACHS GROUP INC	GS	CASH	12,000	73.3500	880,200	5,760	0.6544
INTERNATIONAL BUSINESS MACHINES CORP	IBM	CASH	10,000	72.0000	720,000	6,000	0.8333
JOHNSON & JOHNSON	JNJ	CASH	50,000	52.2600	2,613,000	41,000	1.5691
MBNA CORP	KRB	CASH	60,000	33.0700	1,984,200	24,000	1.2096
PFIZER INC	PFE	CASH	75,000	35.0000	2,625,000	39,000	1.4857
PROCTER & GAMBLE CO	PG	CASH	25,000	89.3000	2,232,500	38,000	1.7021
VIACOM INC-CL B	VIAB	CASH	37,000	44.3700	1,641,690

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

INSTITUTIONAL INTERESTS A/C #2¶

STATEMENT PERIOD June 1, 2002¶

THROUGH June 28, 2002¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | May 31, 2002 |¶

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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(%)
WYETH COM	WYE	CASH	24,000	51.2000	1,228,800	22,080	1.7969
Total Equities&Options					$18,109,771	$259,310
TOTAL EQUITIES					$18,109,771	$259,310

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

YOUR TOTAL ESTIMATED ANNUAL INCOME	$294,910
YOUR PRICED PORTFOLIOHOLDINGS	$20,316,814

INVESTMENT ACTIVITY¶

Transaction Detail¶

INSTITUTIONAL INTERESTS A/C #2¶

STATEMENT PERIOD June 1, 2002¶

THROUGH June 28, 2002¶

ACCOUNT NUMBER¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
06/06/02	06/03/02	BOUGHT	SMUCKER J M COMPANY NEW SPINOFF ON 25000 SHS PROCTER & GAMBLE CO SPIN-OFF F/R P748365 REC 05/29/02 PAY 06/03/02	SJM	500
06/06/02	06/03/02	SOLD	SMUCKER J M COMPANY NEW AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT	SJM	-500	35.07340		17,273.14

TAXPAYER NUMBER On File¶

| LAST STATEMENT | May 31, 2002 |¶

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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 June 1, 2002¶

INVESTMENT ACTIVITY (continued)¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
06/07/02	06/04/02	SOLD	BRISTOL MYERS SQUIBB CO WITH RIGHTS TO PURCHASE PREFRD STK UNDER CERTAIN CIRCUMSTANCE AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER	BMY	-25,000	28.21220		700,526.32

MONEY FUND ACTIVITY¶

$$717,799.46$$¶

DATE MO/DAY	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
06/01/02		OPENINGBALANCE		0.00
06/11/02	BOUGHT	BEAR STEARNS PRIME MONEY MARKET PORTFOLIO CL Y	BSMXX	2,000,000	1.0000	2,000,000.00
06/28/02		CLOSINGBALANCE		2,000,000
TOTAL					$-2,000,000.00

DIVIDENDS¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE ($)	DEBIT AMOUNT	CREDIT AMOUNT
06/03/02	WYETH COM REC 05/13/02 PAY 06/01/02	WYE	24,000	0.2300		5,520.00
06/06/02	PFIZER INC REC 05/17/02 PAY 06/06/02	PFE	75,000	0.1300		9,750.00

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BEAR STEARNS¶

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

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶

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INSTITUTIONAL INTERESTS A/C #2¶

Transaction Detail (continued)¶

STATEMENT PERIOD June 1, 2002¶

DIVIDENDS (continued)¶

THROUGH June 28, 2002¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | May 31, 2002 |¶

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DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE ($)	DEBIT AMOUNT	CREDIT AMOUNT
06/10/02	INTERNATIONAL BUSINESS MACHINES CORP REC 05/10/02 PAY 06/10/02	IBM	10,000	0.1500		1,500.00
06/11/02	JOHNSON & JOHNSON REC 05/21/02 PAY 06/11/02	JNJ	50,000	0.2050		10,250.00
06/14/02	AMERICAN INTERNATIONAL GROUP INC REC 06/07/02 PAY 06/14/02	AIG	20,000	0.0420		840.00
06/28/02	BANK OF AMER CORP REC 06/07/02 PAY 06/28/02	BAC	25,000	0.6000		15,000.00
TOTAL						$42,860.00

INTEREST¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
06/21/02	INTEREST ON CREDIT BALANCE AT 0 1/4% 05/21 THRU 06/20			0.2500		244.72
TOTAL							$244.72

******* End of Statement*******¶

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