EFTA00197962

OFFICE SERVICING YOUR ACCOUNT

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

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| ACCOUNT EXECUTIVE | ZICHERMAN, IRA |

| TELEPHONE | |

| VISIT OUR WEBSITE | www.bearstearns.com |

## What’s In This Statement

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



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

## Your Portfolio at a Glance

| LAST STATEMENT | October 25, 2002 |

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STATEMENT PERIOD October 26, 2002

ACCOUNT NUMBER

<table border="1"><tr><td>TOTAL VALUE OF SECURITIES THIS PERIOD</td><td>22</td></tr><tr><td>NET CREDIT BALANCE</td><td>192,014</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>40,767,555</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$40,959,591</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>40,902,209</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>57,382</td></tr></table>

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

TAXPAYER NUMBER On File



INSTITUTIONAL INTERESTS



THROUGH November 29, 2002

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.

| SPC | 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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| EFTA00197963 |
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This is a simple Markdown document with no headings or paragraphs. It contains just one line of text.



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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EFTA00197964



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>$191,734.84</td></tr><tr><td>Securities Sold</td><td>111.51</td></tr><tr><td>Money Fund</td><td>57,280.24</td></tr><tr><td>Dividends/Interest</td><td>167.73</td></tr><tr><td>Amount Credited</td><td>$57,559.48</td></tr><tr><td>Money Fund</td><td>-57,280.24</td></tr><tr><td>Amount Debited</td><td>$-57,280.24</td></tr><tr><td>Net Cash Activity</td><td>279.24</td></tr><tr><td>Closing Balance</td><td>$192,014.08</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>191,734.84</td><td>192,014.08</td></tr><tr><td>Net Cash Balance</td><td>$191,734.84</td><td>$192,014.08</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>57,280.24</td><td>530,190.40</td></tr><tr><td>Credit Balance Int.</td><td>167.73</td><td>5,678.63</td></tr><tr><td>Total</td><td>$57,447.97</td><td>$535,869.03</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>40,959,569</td></tr><tr><td>Equities</td><td>22</td></tr><tr><td>Total</td><td>$40,959,591</td></tr></table>

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS



<table><thead><tr><th>STATEMENT PERIOD</th><td>October 26, 2002</td></tr></thead><tbody><tr><td>THROUGH</td><td>November 29, 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>October 25, 2002</td></tr></tbody></table>

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

EFTA00197965



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>192,014</td><td></td><td></td></tr><tr><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 1,3900%</td><td>DICXX</td><td>40,767,555.48</td><td>1.0000</td><td>40,767,555</td><td>693,048</td><td>1.7000</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$40,959,569</td><td>$693,048</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>$693,048</td></tr><tr><td>YOUR PRICED PORTFOLIO HOLDINGS</td><td>$40,959,591</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



Bear, Steams Securities Corp.

One Metrotech Center North Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS



STATEMENT PERIOD October 26, 2002

THROUGH November 29, 2002

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | October 25, 2002 |

| :--- | :--- |

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V638

EFTA00197966



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY

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

**5 of 5**



INSTITUTIONAL INTERESTS





Transaction Detail


## INVESTMENT ACTIVITY

<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>10/28/02</td><td>10/23/02</td><td>SOLD</td><td>CANDIES INC UNSOLICITED</td><td>CAND</td><td>-122</td><td>1.16000</td><td></td><td>111.51</td></tr></tbody></table>

## MONEY FUND ACTIVITY

<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>10/26/02</td><td></td><td>OPENINGBALANCE</td><td></td><td>40,710,275.24</td><td></td><td></td><td></td></tr><tr><td>11/01/02</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>57,280.24</td></tr><tr><td>11/01/02</td><td>REINVEST</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED</td><td>DICXX</td><td>57,280.24</td><td></td><td>57,280.24</td><td></td></tr></tbody></table>

<table border="1"><tr><td>11/29/02</td><td>CLOSINGBALANCE</td><td colspan="2">40,767,555.48</td></tr><tr><td>TOTAL</td><td></td><td>-57,280.24</td><td>$57,280.24</td></tr></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>11/21/02</td><td>INTEREST ON CREDIT BALANCE<br>AT 0 3/4% 11/06 THRU 11/20</td><td></td><td></td><td>0.7500</td><td></td><td>59.95</td></tr><tr><td>11/21/02</td><td>INTEREST ON CREDIT BALANCE<br>AT 1 1/4% 10/21 THRU 11/05</td><td></td><td></td><td>1.2500</td><td></td><td>107.78</td></tr><tr><td colspan="6">TOTAL</td><td>$167.73</td></tr></tbody></table>

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