EFTA00197742

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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></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>20,424,754</td></tr><tr><td>NET CREDIT BALANCE</td><td>1,422,974</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$21,847,728</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>23,210,702</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>-1,362,974</td></tr></table>



INSTITUTIONAL INTERESTS A/C #2



| STATEMENT PERIOD | March 29, 2002 |

| :--- | :--- |

| THROUGH | April 26, 2002 |

| LAST STATEMENT | March 28, 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., 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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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>$1,255,201.69</td></tr><tr><td>Securities Sold</td><td>161,450.01</td></tr><tr><td>Dividends/Interest</td><td>6,322.06</td></tr><tr><td>Amount Credited</td><td>$167,772.07</td></tr><tr><td>Net Cash Activity</td><td>167,772.07</td></tr><tr><td>ClosingBalance</td><td>$1,422,973.76</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>1,255,201.69</td><td>1,422,973.76</td></tr><tr><td>Net Cash Balance</td><td>$1,255,201.69</td><td>$1,422,973.76</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>6,000.00</td><td>81,880.00</td></tr><tr><td>Credit Balance Int.</td><td>322.06</td><td>1,513.94</td></tr><tr><td>Total</td><td>$6,322.06</td><td>$83,393.94</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>1,422,974</td></tr><tr><td>Equities</td><td>20,424,754</td></tr><tr><td>Total</td><td>$21,847,728</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY







INSTITUTIONAL INTERESTS A/C #2



| STATEMENT PERIOD | March 29, 2002 |
| :--- | :--- |
| THROUGH | April 26, 2002 |

Your Portfolio Allocation

TAXPAYER NUMBER On File

| LAST STATEMENT | March 28, 2002 |

| :--- | :--- |



04/27/02;12:01 001


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

EFTA00197745



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>1,422,974</td><td></td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$1,422,974</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>CURREN YIELD (%)</th></tr></thead><tbody><tr><td>AMERICAN INTERNATIONAL GROUP INC</td><td>AIG</td><td>CASH</td><td>20,000</td><td>68.7100</td><td>1,374,200</td><td>3,360</td><td>0.2448</td></tr><tr><td>BANK OF AMER CORP</td><td>BAC</td><td>CASH</td><td>25,000</td><td>71.7800</td><td>1,794,500</td><td>60,000</td><td>3.3435</td></tr><tr><td>BRISTOL MYERS SQUIBB CO</td><td>BMY</td><td>CASH</td><td>25,000</td><td>29.3200</td><td>733,000</td><td>28,000</td><td>3.8199</td></tr><tr><td>CITIGROUP INC</td><td>C</td><td>CASH</td><td>27,375</td><td>43.0500</td><td>1,178,494</td><td>19,710</td><td>1.6725</td></tr><tr><td>GOLDMAN SACHS GROUP INC</td><td>GS</td><td>CASH</td><td>12,000</td><td>79.1500</td><td>949,800</td><td>5,760</td><td>0.6064</td></tr><tr><td>INTERNATIONAL BUSINESS MACHINES CORP</td><td>IBM</td><td>CASH</td><td>10,000</td><td>84.7100</td><td>847,100</td><td>5,600</td><td>0.6611</td></tr><tr><td>JOHNSON &amp; JOHNSON</td><td>JNJ</td><td>CASH</td><td>50,000</td><td>63.6100</td><td>3,180,500</td><td>41,000</td><td>1.2891</td></tr><tr><td>MBNA CORP</td><td>KRB</td><td>CASH</td><td>60,000</td><td>35.2600</td><td>2,115,600</td><td>24,000</td><td>1.1344</td></tr><tr><td>PFIZER INC</td><td>PFE</td><td>CASH</td><td>75,000</td><td>36.7600</td><td>2,757,000</td><td>39,000</td><td>1.4146</td></tr><tr><td>PROCTER &amp; GAMBLE CO</td><td>PG</td><td>CASH</td><td>25,000</td><td>89.8000</td><td>2,245,000</td><td>38,000</td><td>1.6927</td></tr><tr><td>VIACOM INC-CL B</td><td>VIAB</td><td>CASH</td><td>37,000</td><td>48.2000</td><td>1,783,400</td><td></td><td></td></tr><tr><td>WYETH COM</td><td>WYE</td><td>CASH</td><td>24,000</td><td>61.0900</td><td>1,466,160</td><td>22,080</td><td>1.5060</td></tr><tr><td>Total Equities&amp; Options</td><td></td><td></td><td></td><td></td><td>$20,424,754</td><td>$286,510</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$20,424,754</td><td>$286,510</td><td></td></tr></tbody></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY







INSTITUTIONAL INTERESTS A/C #2



STATEMENT PERIOD March 29, 2002

THROUGH April 26, 2002

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | March 28, 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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## Your Portfolio Holdings (continued)

| STATEMENT PERIOD | March 29, 2002 |

| :--- | :--- |

| THROUGH | April 26, 2002 |

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$286,510</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$21,847,727</td></tr></table>

TAXPAYER NUMBER On File

| LAST STATEMENT | March 28, 2002 |

| :--- | :--- |

## INVESTMENT ACTIVITY



Transaction Detail


<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>04/01/02</td><td>03/26/02</td><td>SOLD</td><td>TYCO INTERNATIONAL LTD<br>AVG PRICE SHOWN-DETAILS ON REQ<br>ACTUAL CONFIRM TO YOUR AGENT<br>UNSOLICITED</td><td>TYC</td><td>-5,000</td><td>32.44049</td><td></td><td>161,450.01</td></tr><tr><td colspan="8">TOTAL</td><td>$161,450.01</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>04/01/02</td><td>MBNA CORP<br>REC 03/15/02 PAY 04/01/02</td><td>KRB</td><td>60,000</td><td>0.1000</td><td></td><td>6,000.00</td></tr><tr><td colspan="7">TOTAL</td><td>$6,000.00</td></tr></tbody></table>

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EFTA00197747



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)



INTEREST


STATEMENT PERIOD March 29, 2002

THROUGH April 26, 2002

AGCOUNT NUMBER

<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>04/22/02</td><td>INTEREST ON CREDIT BALANCE AT 0 1/4% 03/21 THRU 04/20</td><td></td><td></td><td>0.2500</td><td></td><td>322.06</td></tr><tr><td colspan="7">TOTAL</td><td>$322.06</td></tr></tbody></table>

TAXPAYER NUMBER On File

| LAST STATEMENT | March 28, 2002 |

| :--- | :--- |





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



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