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

INSTITUTIONAL INTERESTS FINANCIAL TRUST CO TTEE * ATTN JEANIE BRENNEN 6100 RED HOOK QUARTER SUITE B-3 ST THOMAS VI 00802 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY ## Your Portfolio at a Glance Bear, Steams Securities Corp. One Metratech Center North Brooklyn, New York 11201-3859 There are no "Stop Loss" orders or other pending buy or sell open orders on file for your account.

TOTAL VALUE OF SECURITIES THIS PERIOD	70,700
NET CREDIT BALANCE	9,082,051
MONEY MARKET FUND BALANCE	26,164,171
NET EQUITY THIS PERIOD	$35,316,922
NET EQUITY LAST STATEMENT	40,545,284
CHANGE SINCE LAST STATEMENT	-5,228,362

INSTITUTIONAL INTERESTS 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., One Metrotech Center North, 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 10/27/01;09:11 001 EFTA00197871 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY 2 of 7 Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 INSTITUTIONAL INTERESTS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 EFTA00197872 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 3 of 7 Cash Flow Analysis

	THIS PERIOD
OpeningBalance	$10,793,837.98
Money Fund	3,681,225.05
Dividends/Interest	47,464.59

Amount Credited	$3,728,689.64

Money Fund	-81,225.05
Funds Withdrawn	-797,556.00
Dividends/Interest Charged	-32,703.38
Miscellaneous	-4,528,992.00

Amount Debited	$-5,440,476.43
Net Cash Activity	-1,711,786.79

Closing Balance	$9,082,051.19

Same day transfers of cash between account types are not included in this section; such transfers, as well as details for all other transactions this period, appear in Transaction Detail. Cash Balance Summary

	OPENING	CLOSING
Cash	408,332.05	889,554.39
Margin	2,318,693.89	-681,119.49
Short	8,066,812.04	8,873,616.29
Net Cash Balance	$10,793,837.98	$9,082,051.19

Income Summary

	THIS PERIOD	YEAR TO DATE
Dividends	111,954.80	451,780.97
Credit Balance Int.	1,548.84	45,411.10
Total	$113,503.64	$497,192.07
Margin Int. Paid	-1,973.63	-1,973.63

Portfolio Composition

	SHORT	LONG
Cash/Cash Equivalent		35,246,222
Equities	9,135,175	9,205,875
Total	$9,135,175	$44,452,097

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 027 Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 INSTITUTIONAL INTERESTS Your Portfolio Allocation 10/27/01;09:11 001 EFTA00197873 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 4 of 7 ## Your Portfolio Holdings ## CASH & CASH EQUIVALENTS

DESCRIPTION	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CASH BALANCE			9,082,051
DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 2,7900%	26,164,171	1.0000	26,164,171	863,418	3.3000
TOTAL CASH & CASH EQUIVALENTS			$35,246,222	$863,418

## EQUITIES Equities & Options

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
BANK PLUS CORP	■	CASH	10,000	7.0700	70,700
MEDTRONIC INC	■	CASH	75,300	42.2500	3,181,425	17,319	0.5444
MEDTRONIC INC	■	SHRT	-75,300	42.2500	-3,181,425	-17,319	0.5444
PNC FINANCIAL SVCS GROUP INC	■	CASH	55,000	57.7500	3,176,250	105,600	3.3247
PNC FINANCIAL SVCS GROUP INC	■	SHRT	-55,000	57.7500	-3,176,250	-105,600	3.3247
TYCO INTERNATIONAL LTD	■	CASH	55,000	50.5000	2,777,500	2,750	0.0990
TYCO INTERNATIONAL LTD	■	SHRT	-55,000	50.5000	-2,777,500	-2,750	0.0990
Total Equities& Options					$70,700	$0
TOTAL EQUITIES					$70,700	$0

YOUR TOTAL ESTIMATED ANNUAL INCOME	$863,418
YOUR PRICED PORTFOLIOHOLDINGS	$35,316,922

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY Bear, Steams Securities Corp. One Meterotech Center North Brooklyn, New York 11201-3859 INSTITUTIONAL INTERESTS 027 10/27/01;09:11 001 EFTA00197874 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY 5 of 7 Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 Transaction Detail ## DEPOSITS AND WITHDRAWALS

DATE	TRANSACTION	DESCRIPTION	DEBIT AMOUNT
10/01/01	FND WIRED	MDA# FNDS WIRED TO J P MORGAN BANK $ COMING FROM DREYFUS	754,832.00
10/25/01	CHECK	CK #MT351452 GEORGE V. DELSON	12,324.00
10/26/01	CHECK	CK #MT351770 LAWRENCE NEWMAN	30,400.00
TOTAL			-797,556.00

INSTITUTIONAL INTERESTS ## MONEY FUND ACTIVITY

DATE MOIDAY	TRANSACTION	DESCRIPTION	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
09/29/01		OPENINGBALANCE	29,682,945.95
10/01/01	SOLD	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	-2,700,000	1.0000		2,700,000.00
10/01/01	DIVIDEND	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES MONTHLY DIVIDEND				81,225.05
10/01/01	REINVEST	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED	81,225.05		81,225.05
10/15/01	SOLD	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	-900,000	1.0000		900,000.00
10/26/01		CLOSINGBALANCE	26,164,171
TOTAL					-$81,225.05	$3,681,225.05

027 10/27/01;09:11 001 EFTA00197875 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY 6 of 7 Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859 INSTITUTIONAL INTERESTS ## Transaction Detail (continued)

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE ($)	DEBIT AMOUNT	CREDIT AMOUNT
10/09/01	MEDTRONIC INC DIV CHG 75300 SHS SHORT REC 10/05/01 PAY 10/26/01	■			4,329.75
10/15/01	PNC FINANCIAL SVCS GROUP INC DIV CHG 55000 SHS SHORT REC 10/12/01 PAY 10/24/01	■			26,400.00
10/24/01	PNC FINANCIAL SVCS GROUP INC REC 10/12/01 PAY 10/24/01	■	55,000	0.4800		26,400.00
10/26/01	MEDTRONIC INC REC 10/05/01 PAY 10/26/01	■	75,300	0.0575		4,329.75
TOTAL					-30,729.75	$30,729.75

INTEREST

DATE	DESCRIPTION	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
10/22/01	INTEREST ON CREDIT BALANCE AT 2,000% 10/02 THRU 10/20	2.0000		17.52
10/22/01	INTEREST ON CREDIT BALANCE AT 1 1/2% 09/21 THRU 09/23	1.5000		205.68
10/22/01	INTEREST ON CREDIT BALANCE AT 2 1/2% 09/24 THRU 10/01	2.5000		1,325.64
10/22/01	FROM 09/24 THRU 10/01 @7 % BAL 1458,706- AVBAL 89,598	7.0000	139.37
10/22/01	FROM 10/02 THRU 10/20 @6 1/2% BAL 847,434 AVBAL 534,683	6.5000	1,834.26
10/22/01	SHT ACCT FEE 09/21-10 20 01			15,186.00
TOTAL			-1,973.63	$16,734.84

027 10/27/01;09:11 001 EFTA00197876 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 7 of 7 ## **Transaction Detail** (continued) ## MISCELLANEOUS

DATE MO/DAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
10/01/01	JOURNAL	TO 047-30185 PER LOA	4,528,992.00
10/01/01	JOURNAL	MARK TO MARKET	859,987.00
10/01/01	JOURNAL	MARK TO MARKET SHORT POS		859,987.00
10/02/01	JOURNAL	JOURNAL FROM TYPE 2 TO 1		2,175,491.75
10/02/01	JOURNAL	JOURNAL FROM TYPE 2 TO 1	2,175,491.75
10/08/01	JOURNAL	MARK TO MARKET	120,112.00
10/08/01	JOURNAL	MARK TO MARKET SHORT POS		120,112.00
10/15/01	JOURNAL	MARK TO MARKET	10,538.00
10/15/01	JOURNAL	MARK TO MARKET SHORT POS		10,538.00
10/22/01	JOURNAL	MARK TO MARKET		168,289.00
10/22/01	JOURNAL	MARK TO MARKET SHORT POS	168,289.00
TOTAL			-$7,863,409.75	$3,334,417.75

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY ******* End of Statement******* Bear, Steams Securities Corp. One Mebrotech Center North Brooklyn, New York 11201-3859 INSTITUTIONAL INTERESTS 027 10/27/01;09:11 001 V502