EFTA00197967

OFFICE SERVICING YOUR ACCOUNT

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

| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | ZICHERMAN, IRA |

| TELEPHONE | |

| VISIT OUR WEBSITE | www.bearstearns.com |

## What’s In This Statement

<table border="1"><tr><td>Financial Summary</td><td>3</td></tr><tr><td>Your Portfolio Holdings</td><td>4</td></tr><tr><td>Transaction Detail</td><td>5</td></tr><tr><td>Fund Activity</td><td>5</td></tr><tr><td>Trades Not Yet Settled</td><td>7</td></tr></table>







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

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

| LAST STATEMENT | September 27, 2002 |

| :--- | :--- |

ACCOUNT NUMBER

STATEMENT PERIOD September 28, 2002



INSTITUTIONAL INTERESTS



<table border="1"><tr><td>TOTAL VALUE OF SECURITIES THIS PERIOD</td><td>199</td></tr><tr><td>NET CREDIT BALANCE</td><td>191,735</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>40,710,275</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$40,902,209</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>45,327,347</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>-4,425,138</td></tr></table>

TAXPAYER NUMBER On File

THROUGH October 25, 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.

| 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 | 10:26/02;10:31 001 |

EFTA00197968



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

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EFTA00197969



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

3 of 7

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$107,910.02</td></tr><tr><td>Securities Sold</td><td>72,143.97</td></tr><tr><td>Money Fund</td><td>4,562,295.52</td></tr><tr><td>Dividends/Interest</td><td>163.85</td></tr><tr><td>Amount Credited</td><td>$4,634,603.34</td></tr><tr><td>Money Fund</td><td>-62,295.52</td></tr><tr><td>Funds Withdrawn</td><td>-4,488,483.00</td></tr><tr><td>Amount Debited</td><td>$-4,550,778.52</td></tr><tr><td>Net Cash Activity</td><td>83,824.82</td></tr><tr><td>Closing Balance</td><td>$191,734.84</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>107,910.02</td><td>191,734.84</td></tr><tr><td>Net Cash Balance</td><td>$107,910.02</td><td>$191,734.84</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>62,295.52</td><td>472,910.16</td></tr><tr><td>Credit Balance Int.</td><td>163.85</td><td>5,510.90</td></tr><tr><td>Total</td><td>$62,459.37</td><td>$478,421.06</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>40,902,010</td></tr><tr><td>Equities</td><td>199</td></tr><tr><td>Total</td><td>$40,902,209</td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS



<table><thead><tr><th>STATEMENT PERIOD</th><td>September 28, 2002</td></tr></thead><tbody><tr><td>THROUGH</td><td>October 25, 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>September 27, 2002</td></tr></tbody></table>

Your Portfolio Allocation





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

EFTA00197970



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

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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>191,735</td><td></td><td></td></tr><tr><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 1,6600%</td><td>DICXX</td><td>40,710,275.24</td><td>1.0000</td><td>40,710,275</td><td>692,075</td><td>1.7000</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$40,902,010</td><td>$692,075</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>CANDIES INC</td><td>CAND</td><td>CASH</td><td>122</td><td>1.4500</td><td>177</td><td></td><td></td></tr><tr><td>Total Equities&amp; Options</td><td></td><td></td><td></td><td></td><td>$199</td><td>$0</td><td></td></tr><tr><td>TOTAL EQUITIES</td><td></td><td></td><td></td><td></td><td>$199</td><td>$0</td><td></td></tr></tbody></table>

<table border="1"><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td>$692,075</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$40,902,209</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 September 28, 2002

| THROUGH | October 25, 2002 |

| :--- | :--- |

AGCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | September 27, 2002 |

| :--- | :--- |

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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 7



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>10/04/02</td><td>10/01/02</td><td>SOLD</td><td>UNITED RETAIL GROUP INC<br>UNSOLICITED</td><td>URGI</td><td>-400</td><td>4.85000</td><td></td><td>1,909.94</td></tr><tr><td>10/07/02</td><td>10/02/02</td><td>SOLD</td><td>UNITED RETAIL GROUP INC<br>AVG PRICE SHOWN-DETAILS ON REQ<br>ACTUAL CONFIRM TO YOUR AGENT<br>AVG PRICE: DETAILS ON REQUEST<br>AS OF 10/02/02</td><td>URGI</td><td>-15,300</td><td>4.65060</td><td></td><td>70,234.03</td></tr><tr><td>10/08/02</td><td></td><td>RECEIVED</td><td>CANDIES INC</td><td>CAND</td><td>122</td><td></td><td></td><td></td></tr><tr><td colspan="8">TOTAL</td><td>$72,143.97</td></tr></tbody></table>

## DEPOSITS AND WITHDRAWALS

## 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>09/28/02</td><td></td><td>OPENINGBALANCE</td><td></td><td>45,147,979.72</td><td></td><td></td><td></td></tr></tbody></table>

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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



6 of 7



INSTITUTIONAL INTERESTS



## **Transaction Detail** (continued)

STATEMENT PERIOD September 28, 2002

| THROUGH | October 25, 2002 |

| :--- | :--- |

## MONEY FUND ACTIVITY (continued)

ACCOUNT NUMBER

TAXPAYER NUMBER On File

| LAST STATEMENT | September 27, 2002 |

| :--- | :--- |

<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>10/01/02</td><td>SOLD</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICXX</td><td>-4,500,000</td><td>1.0000</td><td></td><td>4,500,000.00</td></tr><tr><td>10/01/02</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>62,295.52</td></tr><tr><td>10/01/02</td><td>REINVEST</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED</td><td>DICXX</td><td>62,295.52</td><td></td><td>62,295.52</td><td></td></tr><tr><td>10/25/02</td><td></td><td>CLOSINGBALANCE</td><td></td><td>40,710,275.24</td><td></td><td></td><td></td></tr><tr><td colspan="6">TOTAL</td><td>-62,295.52</td><td>$4,562,295.52</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>10/21/02</td><td>INTEREST ON CREDIT BALANCE AT 1 1/4% 09/21 THRU 10/20</td><td></td><td></td><td>1.2500</td><td></td><td>163.85</td></tr><tr><td colspan="7">TOTAL</td><td>$163.85</td></tr></tbody></table>

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EFTA00197973



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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



CLEARED THROUGH ITS
CLEARLY WOUNDED SUBSIDIARY



7 of 7

Bear, Steams Securities Corp.

One Meterotech Center North Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS



## Trades Executed Pending Settlement

<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<br>UNSOLICITED</td><td>CAND</td><td>-122.00</td><td>1.1600</td><td></td><td>111.51</td></tr><tr><td colspan="7">TOTAL</td><td>$0.00</td><td>$111.51</td></tr></tbody></table>

The above trades do not appear in any other section of this statement.





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


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