Brokerage statement for an Epstein-linked investment account, April 2003

EFTA00197828¶

| | |¶

| :--- | :--- |¶

| 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¶

INSTITUTIONAL INTERESTS A/C #2¶

C/O FINANCIAL TRUST COMPANY¶

ATTN LARRY KEMP¶

• 6100 RED HOOK QUARTER

SUITE B-3¶

ST THOMAS VI 00802¶

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSIDIARY¶

Your Portfolio at a Glance¶

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

INSTITUTIONAL INTERESTS A/C #2¶

TOTAL VALUE OF SECURITIES THIS PERIOD	18,252,609
NET CREDIT BALANCE	1,109,497
MONEY MARKET FUND BALANCE	677,712
NET EQUITY THIS PERIOD	$20,039,818
NET EQUITY LAST STATEMENT	19,186,804
CHANGE SINCE LAST STATEMENT	853,014

| STATEMENT PERIOD | March 29, 2003 |¶

| :--- | :--- |¶

| THROUGH | April 25, 2003 |¶

ACCOUNT NUMBER¶

| LAST STATEMENT | March 28, 2003 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

Market Value of Your Portfolio¶

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.¶

027 04/26/03:12:12 001¶

V643¶

EFTA00197829¶

2 of 7¶

INSTITUTIONAL INTERESTS A/C #2¶

STATEMENT BACKER IS PRINTED ON THIS PAGE¶

027¶

V643¶

EFTA00197830¶

3 of 7¶

Cash Flow Analysis¶

	THIS PERIOD
OpeningBalance	$943,713.80
Securities Sold	897,057.20
Money Fund	682.95
Dividends/Interest	7,676.74
Amount Credited	$905,416.89
Securities Bought	-738,950.51
Money Fund	-682.95
Amount Debited	$-739,633.46
Net Cash Activity	165,783.43
Closing Balance	$1,109,497.23

Cash Balance Summary¶

	OPENING	CLOSING
Cash	943,713.80	1,109,497.23
Net Cash Balance	$943,713.80	$1,109,497.23

Income Summary¶

	THIS PERIOD	YEAR TO DATE
Dividends	7,882.95	78,196.69
Credit Balance Int.	476.74	4,150.23
Total	$8,359.69	$82,346.92

Portfolio Composition¶

Cash/Cash Equivalent	1,787,209
Equities	18,252,609
Total	$20,039,818

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

INSTITUTIONAL INTERESTS A/C #2¶

STATEMENT PERIOD	March 29, 2003
THROUGH	April 25, 2003

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

Your Portfolio Allocation¶

| LAST STATEMENT | March 28, 2003 |¶

| :--- | :--- |¶

EFTA00197831¶

BEAR STEARNS¶

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

4 of 7¶

Your Portfolio Holdings¶

CASH & CASH EQUIVALENTS¶

DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CASH BALANCE				1,109,497
BEAR STEARNS PRIME MONEY	BSMXX	677,711.76	1.0000	677,712	7,658	1.1300
MARKET PORTFOLIO CLY DIVIDEND REINVESTED
TOTAL CASH & CASH EQUIVALENTS				$1,787,209	$7,658

EQUITIES¶

Equities & Options¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
AOL TIME WARNER INC	AOL	CASH	100,000	13.3200	1,332,000
AMERICAN INTERNATIONAL GROUP INC	AIG	CASH	25,000	54.7500	1,368,750	4,700	0.3434
BANK OF AMER CORP	BAC	CASH	30,000	72.5800	2,177,400	76,800	3.5271
CITIGROUP INC	C	CASH	27,375	38.4500	1,052,569	21,900	2.0806
GOLDMAN SACHS GROUP INC	GS	CASH	12,000	75.8700	910,440	5,760	0.6327
INTERNATIONAL BUSINESS MACHINES CORP	IBM	CASH	20,000	83.8800	1,677,600	12,000	0.7153
JOHNSON & JOHNSON	JNJ	CASH	60,000	56.2100	3,372,600	57,600	1.7079
MBNA CORP	KRB	CASH	100,000	18.5500	1,855,000	32,000	1.7251
PFIZER INC	PFE	CASH	75,000	30.3700	2,277,750	45,000	1.9756
PROCTER & GAMBLE CO Total Equities& Options		CASH	25,000	89.1400	2,228,500	41,000	1.8398
					$18,252,609	$296,760
TOTAL EQUITIES					$18,252,609	$296,760

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

INSTITUTIONAL INTERESTS A/C #2¶

STATEMENT PERIOD March 29, 2003¶

THROUGH April 25, 2003¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 28, 2003 |¶

| :--- | :--- |¶

027¶

04/26/03;12:12 001¶

Y643¶

EFTA00197832¶

BEAR STEARNS¶

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

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

5 of 7¶

INSTITUTIONAL INTERESTS A/C #2¶

Your Portfolio Holdings (continued)¶

STATEMENT PERIOD March 29, 2003¶

YOUR TOTAL ESTIMATED ANNUAL INCOME	$304,418
YOUR PRICED PORTFOLIO HOLDINGS	$20,039,818

THROUGH April 25, 2003¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 28, 2003 |¶

| :--- | :--- |¶

INVESTMENT ACTIVITY¶

Transaction Detail¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/04/03	04/01/03	BOUGHT	JOHNSON & JOHNSON DISCRETIONARY ORDER	JNJ	10,000	58.23000	585,688.58
04/04/03	04/01/03	BOUGHT	MBNA CORP DISCRETIONARY ORDER PART OF 10000 SHR	KRB	3,900	15.19000	59,796.51
04/04/03	04/01/03	BOUGHT	MBNA CORP DISCRETIONARY ORDER PART OF 10000 SHR	KRB	6,100	15.18000	93,465.42
04/10/03	04/07/03	SOLD	VIACOM INC-CL B AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER	VIAB	-5,550	41.33440		227,845.40
04/15/03	04/10/03	SOLD	VIACOM INC-CL B AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER	VIAB	-8,325	39.75470		328,774.04

027¶

04/26/03;12:12 001¶

EFTA00197833¶

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

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

6 of 7¶

INSTITUTIONAL INTERESTS A/C #2¶

Transaction Detail (continued)¶

STATEMENT PERIOD March 29, 2003¶

THROUGH April 25, 2003¶

INVESTMENT ACTIVITY (continued)¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
04/16/03	04/11/03	SOLD	VIACOM INC-CL B AVG PRICE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT DISCRETIONARY ORDER	VIAB	-8,325	41.16230		340,437.76
TOTAL						$-738,950.51	$897,057.20

MONEY FUND ACTIVITY¶

DATE MO/DAY	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
03/29/03		OPENINGBALANCE		677,028.81
04/01/03	DIVIDEND	BEAR STEARNS PRIME MONEY MARKET PORTFOLIO CL Y RECORD 03/31/03 PAY 03/31/03	BSMXX				682.95
04/01/03	REINVEST	BEAR STEARNS PRIME MONEY MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00	BSMXX	682.95		682.95
04/25/03		CLOSINGBALANCE		677,711.76
TOTAL						-682.95	$682.95

DIVIDENDS¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE ($)	DEBIT AMOUNT	CREDIT AMOUNT
04/01/03	MBNA CORP REC 03/15/03 PAY 04/01/03	KRB	90,000	0.0800		7,200.00
TOTAL						$7,200.00

027¶

04/26/03;12:12 001¶

V643¶

EFTA00197834¶

BEAR STEARNS¶

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

CLEARED THROUGH ITS¶

CLEARLY WOUNDED SUBSIDIARY¶

7 of 7¶

INSTITUTIONAL INTERESTS A/C #2¶

Transaction Detail (continued)¶

INTEREST¶

STATEMENT PERIOD March 29, 2003¶

THROUGH April 25, 2003¶

ACCOUNT NUMBER¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
04/21/03	INTEREST ON CREDIT BALANCE AT 0 3/4% 03/21 THRU 04/20			0.7500		476.74
TOTAL							$476.74

TAXPAYER NUMBER On File¶

| LAST STATEMENT | March 28, 2003 |¶

| :--- | :--- |¶

******* End of Statement*******¶

027¶

04/26/03;12:12 001¶

V643¶