## Statements

EFTA00197957

OFFICE SERVICING YOUR ACCOUNT

Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | ZICHERMAN, IRA |

| TELEPHONE | |

| VISIT OUR WEBSITE | www.bearstearns.com |

Your Portfolio Holdings ... 4

Transaction Detail ... 5

Fund Activity 5

## What’s In This Statement

Your Messages ... 5







INSTITUTIONAL INTERESTS

FINANCIAL TRUST CO TTEE *

ATTN JEANIE BRENNEN

6100 RED HOOK QUARTER

SUITE B-3

ST THOMAS VI 00802



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS



ACCOUNT NUMBER

STATEMENT PERIOD November 30, 2002

TAXPAYER NUMBER On File

THROUGH December 31, 2002

| LAST STATEMENT | November 29, 2002 |

| :--- | :--- |

## 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>22</td></tr><tr><td>NET CREDIT BALANCE</td><td>192,134</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>40,815,167</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$41,007,323</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>40,959,591</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>47,732</td></tr></table>

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.

If any information regarding 2002 interest, dividends, miscellaneous income, gross proceeds or original issue discount is required to be reported to the IRS for this account, a Consolidated Form 1099 will be mailed to you by January 31, 2003 or a 1042Sby March 17, 2003.

## Important Message

| 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. |
| :--- | :--- |
| 027 | 01/01/03;09:30 001 |

EFTA00197958



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY


2 of 5

Bear, Steams Securities Corp.
One Metrotech Center North
Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS


STATEMENT BACKER IS PRINTED ON THIS PAGE

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EFTA00197959



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179

3 of 5

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$192,014.08</td></tr><tr><td>Money Fund</td><td>47,611.21</td></tr><tr><td>Dividends/Interest</td><td>120.01</td></tr><tr><td>Amount Credited</td><td>$47,731.22</td></tr><tr><td>Money Fund</td><td>-47,611.21</td></tr><tr><td>Amount Debited</td><td>$-47,611.21</td></tr><tr><td>Net Cash Activity</td><td>120.01</td></tr><tr><td>ClosingBalance</td><td>$192,134.09</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>192,014.08</td><td>192,134.09</td></tr><tr><td>Net Cash Balance</td><td>$192,014.08</td><td>$192,134.09</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>47,611.21</td><td>577,801.61</td></tr><tr><td>Credit Balance Int.</td><td>120.01</td><td>5,798.64</td></tr><tr><td>Total</td><td>$47,731.22</td><td>$583,600.25</td></tr><tr><td>Foreign Tax Withheld</td><td>0.00</td><td>-43.23</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>41,007,301</td></tr><tr><td>Equities</td><td>22</td></tr><tr><td>Total</td><td>$41,007,323</td></tr></table>

027

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS


<table><thead><tr><th>STATEMENT PERIOD</th><td>November 30, 2002</td></tr></thead><tbody><tr><td>THROUGH</td><td>December 31, 2002</td></tr><tr><td>ACCOUNT NUMBER</td><td></td></tr><tr><td>TAXPAYER NUMBER</td><td>On File</td></tr><tr><td>LAST STATEMENT</td><td>November 29, 2002</td></tr></tbody></table>



01/01/03;09:30 001


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

EFTA00197960



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179

4 of 5

## 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>192,134</td><td></td><td></td></tr><tr><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 1,2200%</td><td>DICXX</td><td>40,815,166.69</td><td>1.0000</td><td>40,815,167</td><td>571,412</td><td>1.4000</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$41,007,301</td><td>$571,412</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>WTS AMERICAN BANK NOTE HOLOGRAPHICS INC EXP 06/18/2003</td><td>ABHHW</td><td>CASH</td><td>2,151</td><td>0.0100</td><td>22</td><td></td><td></td></tr><tr><td>Total Equities&amp; Options</td><td></td><td></td><td></td><td></td><td>$22</td><td>$0</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$22</td><td>$0</td><td></td></tr></tbody></table>

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$571,412</td></tr><tr><td>YOUR PRICED PORTFOLIO HOLDINGS</td><td>$41,007,323</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



Bear, Steams Securities Corp.

One Metratech Center North Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS



STATEMENT PERIOD November 30, 2002

THROUGH December 31, 2002

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | November 29, 2002 |

| :--- | :--- |

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v639


EFTA00197961



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179



CLEARED THROUGH ITS
CLEARLY WOUNDED SUBSIDIARY





Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



**5 of 5**



INSTITUTIONAL INTERESTS





Transaction Detail


STATEMENT PERIOD November 30, 2002

THROUGH December 31, 2002

## MONEY FUND ACTIVITY

ACCOUNT NUMBER

| LAST STATEMENT | November 29, 2002 |

| :--- | :--- |

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 AMOUNT</th></tr></thead><tbody><tr><td>11/30/02</td><td></td><td>OPENINGBALANCE</td><td></td><td>40,767,555.48</td><td></td><td></td><td></td></tr><tr><td>12/02/02</td><td>DIVIDEND</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES MONTHLY DIVIDEND</td><td>DICXX</td><td></td><td></td><td></td><td>47,611.21</td></tr><tr><td>12/02/02</td><td>REINVEST</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED</td><td>DICXX</td><td>47,611.21</td><td></td><td>47,611.21</td><td></td></tr><tr><td>12/31/02</td><td></td><td>CLOSINGBALANCE</td><td></td><td>40,815,166.69</td><td></td><td></td><td></td></tr><tr><td colspan="5">TOTAL</td><td></td><td>-47,611.21</td><td>$47,611.21</td></tr></tbody></table>



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>12/23/02</td><td>INTEREST ON CREDIT BALANCE AT 0 3/4% 11/21 THRU 12/20</td><td></td><td></td><td>0.7500</td><td></td><td>120.01</td></tr><tr><td colspan="6">TOTAL</td><td>$120.01</td></tr></tbody></table>

## Your messages



As part of the National Association of Securities Dealer's (NASD) Investor Education Program, you may obtain information on the NASD's Public Disclosure Program by contacting the NASD at telephone number (800) 289-9999 or via the internet address which is www.nasdr.com. In addition, a brochure explaining the Public Disclosure Program is available from the NASD upon request.

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