EFTA00197842

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| :--- | :--- |

| ACCOUNT EXECUTIVE | GREENBERG,ALAN C. |

| TELEPHONE | |

| VISIT OUR WEBSITE | www.bearstearns.com |

## What’s In This Statement

Your Portfolio Holdings ... 4

<table><tr><td>Transaction Detail</td><td>5</td></tr></table>

Fund Activity 5





# 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.

<table border="1"><tr><td>TOTAL VALUE OF SECURITIES THIS PERIOD</td><td>16,722,819</td></tr><tr><td>NET CREDIT BALANCE</td><td>909,556</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>676,398</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$18,308,773</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>18,966,338</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>-657,564</td></tr></table>

AGCOUNT NUMBER



INSTITUTIONAL INTERESTS A/C #2



| LAST STATEMENT | January 31, 2003 |

| :--- | :--- |

TAXPAYER NUMBER On File

THROUGH February 28, 2003

STATEMENT PERIOD February 1, 2003

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.

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

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$879,944.72</td></tr><tr><td>Money Fund</td><td>718.18</td></tr><tr><td>Dividends/Interest</td><td>29,611.66</td></tr><tr><td>Amount Credited</td><td>$30,329.84</td></tr><tr><td>Money Fund</td><td>-718.18</td></tr><tr><td>Amount Debited</td><td>$-718.18</td></tr><tr><td>Net Cash Activity</td><td>29,611.66</td></tr><tr><td>Closing Balance</td><td>$909,556.38</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>879,944.72</td><td>909,556.38</td></tr><tr><td>Net Cash Balance</td><td>$879,944.72</td><td>$909,556.38</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>29,758.18</td><td>36,058.18</td></tr><tr><td>Credit Balance Int.</td><td>571.66</td><td>3,141.07</td></tr><tr><td>Total</td><td>$30,329.84</td><td>$39,199.25</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>1,585,954</td></tr><tr><td>Equities</td><td>16,722,819</td></tr><tr><td>Total</td><td>$18,308,773</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY







INSTITUTIONAL INTERESTS A/C #2



STATEMENT PERIOD February 1, 2003

THROUGH February 28, 2003



ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | January 31, 2003 |

| :--- | :--- |

Your Portfolio Allocation

EFTA00197845



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>909,556</td><td></td><td></td></tr><tr><td>BEAR STEARNS PRIME MONEY</td><td>BSMXX</td><td>676,398.25</td><td>1.0000</td><td>676,398</td><td>8,184</td><td>1.2099</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>$1,585,954</td><td>$8,184</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>AOL</td><td>CASH</td><td>100,000</td><td>11.3200</td><td>1,132,000</td><td></td><td></td></tr><tr><td>AMERICAN INTERNATIONAL GROUP INC</td><td>AIG</td><td>CASH</td><td>25,000</td><td>49.2900</td><td>1,232,250</td><td>4,700</td><td>0.3814</td></tr><tr><td>BANK OF AMER CORP</td><td>BAC</td><td>CASH</td><td>30,000</td><td>69.2400</td><td>2,077,200</td><td>76,800</td><td>3.6973</td></tr><tr><td>CITIGROUP INC</td><td>C</td><td>CASH</td><td>27,375</td><td>33.3400</td><td>912,683</td><td>21,900</td><td>2.3995</td></tr><tr><td>GOLDMAN SACHS GROUP INC</td><td>GS</td><td>CASH</td><td>12,000</td><td>69.4500</td><td>833,400</td><td>5,760</td><td>0.6911</td></tr><tr><td>INTERNATIONAL BUSINESS MACHINES CORP</td><td>IBM</td><td>CASH</td><td>20,000</td><td>77.9500</td><td>1,559,000</td><td>12,000</td><td>0.7697</td></tr><tr><td>JOHNSON &amp; JOHNSON</td><td>JNJ</td><td>CASH</td><td>50,000</td><td>52.4500</td><td>2,622,500</td><td>41,000</td><td>1.5634</td></tr><tr><td>MBNA CORP</td><td>KRB</td><td>CASH</td><td>90,000</td><td>13.8500</td><td>1,246,500</td><td>28,800</td><td>2.3105</td></tr><tr><td>PFIZER INC</td><td>PFE</td><td>CASH</td><td>75,000</td><td>29.8200</td><td>2,236,500</td><td>45,000</td><td>2.0121</td></tr><tr><td>PROCTER &amp; GAMBLE CO</td><td>PG</td><td>CASH</td><td>25,000</td><td>81.8600</td><td>2,046,500</td><td>41,000</td><td>2.0034</td></tr></tbody></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY







INSTITUTIONAL INTERESTS A/C #2



STATEMENT PERIOD February 1, 2003

THROUGH February 28, 2003

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | January 31, 2003 |

| :--- | :--- |

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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><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>VIACOM INC-CL B</td><td>VIAB</td><td>CASH</td><td>22,200</td><td>37.1300</td><td>824,286</td><td></td><td></td></tr><tr><td>Total Equities&amp; Options</td><td></td><td></td><td></td><td></td><td>$16,722,819</td><td>$276,960</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$16,722,819</td><td>$276,960</td><td></td></tr></tbody></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$285,144</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$18,308,773</td></tr></table>



## MONEY FUND ACTIVITY



Transaction Detail




INSTITUTIONAL INTERESTS A/C #2



STATEMENT PERIOD February 1, 2003



ACCOUNT NUMBER



TAXPAYER NUMBER On File

<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 AMOUN</th></tr></thead><tbody><tr><td>02/01/03</td><td></td><td>OPENINGBALANCE</td><td></td><td>675,680.07</td><td></td><td></td><td></td></tr><tr><td>02/03/03</td><td>DIVIDEND</td><td>BEAR STEARNS PRIME MONEY<br>MARKET PORTFOLIO CL Y<br>RECORD 01/31/03 PAY 01/31/03</td><td>BSMXX</td><td></td><td></td><td></td><td>718.18</td></tr><tr><td>02/03/03</td><td>REINVEST</td><td>BEAR STEARNS PRIME MONEY<br>MARKET PORTFOLIO CL Y<br>REINVEST PRICE $ 1.00</td><td>BSMXX</td><td>718.18</td><td></td><td>718.18</td><td></td></tr><tr><td>02/28/03</td><td></td><td>CLOSINGBALANCE</td><td></td><td>676,398.25</td><td></td><td></td><td></td></tr><tr><td colspan="4">TOTAL</td><td></td><td></td><td>-718.18</td><td>$718.18</td></tr></tbody></table>

| LAST STATEMENT | January 31, 2003 |

| :--- | :--- |

THROUGH February 28, 2003

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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



## DIVIDENDS

## **Transaction Detail** (continued)

STATEMENT PERIOD February 1, 2003

THROUGH February 28, 2003

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>02/03/03</td><td>TYCO INTERNATIONAL LTD<br>REC 01/02/03 PAY 02/03/03</td><td>TYC</td><td>50,000</td><td>0.0125</td><td></td><td>625.00</td></tr><tr><td>02/14/03</td><td>PFIZER INC<br>REC 01/17/03 PAY 02/14/03</td><td>PFE</td><td>75,000</td><td>0.1500</td><td></td><td>11,250.00</td></tr><tr><td>02/14/03</td><td>PROCTER &amp; GAMBLE CO<br>REC 01/24/03 PAY 02/14/03</td><td>PG</td><td>25,000</td><td>0.4100</td><td></td><td>10,250.00</td></tr><tr><td>02/27/03</td><td>GOLDMAN SACHS GROUP INC<br>REC 01/28/03 PAY 02/27/03</td><td>GS</td><td>12,000</td><td>0.1200</td><td></td><td>1,440.00</td></tr><tr><td>02/28/03</td><td>CITIGROUP INC<br>REC 02/03/03 PAY 02/28/03</td><td>C</td><td>27,375</td><td>0.2000</td><td></td><td>5,475.00</td></tr><tr><td colspan="6">TOTAL</td><td>$29,040.00</td></tr></tbody></table>

TAXPAYER NUMBER On File

| LAST STATEMENT | January 31, 2003 |

| :--- | :--- |



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>02/21/03</td><td>INTEREST ON CREDIT BALANCE AT 0 3/4% 01/21 THRU 02/20</td><td></td><td></td><td>0.7500</td><td></td><td>571.66</td></tr><tr><td colspan="7">TOTAL</td><td>$571.66</td></tr></tbody></table>





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


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