EFTA00198029

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><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>4</td></tr><tr><td>Fund Activity</td><td>4</td></tr><tr><td>Your Messages</td><td>6</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 SUBSDIARY



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

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

Your Portfolio at a Glance



INSTITUTIONAL INTERESTS



<table border="1"><tr><td>NET CREDIT BALANCE</td><td>133,182</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>35,946,557</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$36,079,739</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>31,034,575</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>5,045,164</td></tr></table>

Market Value of Your Portfolio

| STATEMENT PERIOD | February 23, 2002 |

| :--- | :--- |

| THROUGH | March 28, 2002 |

| LAST STATEMENT | February 22, 2002 |

| :--- | :--- |

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 03/29/02:20:33 001

V555

EFTA00198030



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY




2 of 6


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



INSTITUTIONAL INTERESTS


STATEMENT BACKER IS PRINTED ON THIS PAGE

027

EFTA00198031



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

3 of 6

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$132,878.78</td></tr><tr><td>Money Fund</td><td>44,861.87</td></tr><tr><td>Dividends/Interest</td><td>302.80</td></tr><tr><td>Miscellaneous</td><td>5,000,000.00</td></tr><tr><td>Amount Credited</td><td>$5,045,164.67</td></tr><tr><td>Money Fund</td><td>-5,044,861.87</td></tr><tr><td>Amount Debited</td><td>$-5,044,861.87</td></tr><tr><td>Net Cash Activity</td><td>302.80</td></tr><tr><td>Closing Balance</td><td>$133,181.58</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>132,878.78</td><td>133,181.58</td></tr><tr><td>Net Cash Balance</td><td>$132,878.78</td><td>$133,181.58</td></tr></table>

Income Summary

<table border="1"><tr><td></td><td>THIS PERIOD</td><td>YEAR TO DATE</td></tr><tr><td>Dividends</td><td>44,861.87</td><td>97,469.21</td></tr><tr><td>Credit Balance Int.</td><td>302.80</td><td>4,032.45</td></tr><tr><td>Total</td><td>$45,164.67</td><td>$101,501.66</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>36,079,739</td></tr><tr><td>Total</td><td>$36,079,739</td></tr></table>

027

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS




03/29/02;20:33 001


Your Portfolio Allocation

EFTA00198032



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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

4 of 6

## 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>133,182</td><td></td><td></td></tr><tr><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 1,8500%</td><td>DICCX</td><td>35,946,557.47</td><td>1.0000</td><td>35,946,557</td><td>611,091</td><td>1.7000</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$36,079,739</td><td>$611,091</td><td></td></tr><tr><td colspan="4">YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td colspan="3">$611,091</td></tr><tr><td colspan="4">YOUR PRICED PORTFOLIOHOLDINGS</td><td colspan="3">$36,079,738</td></tr></tbody></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

## MONEY FUND ACTIVITY



Transaction Detail




INSTITUTIONAL INTERESTS



<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>02/23/02</td><td></td><td>OPENINGBALANCE</td><td></td><td>30,901,695.60</td><td></td><td></td><td></td></tr><tr><td>03/01/02</td><td>BOUGHT</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>5,000,000</td><td>1.0000</td><td>5,000,000.00</td><td></td></tr><tr><td>03/01/02</td><td>DIVIDEND</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES MONTHLY DIVIDEND</td><td>DICCX</td><td></td><td></td><td></td><td>44,861.87</td></tr><tr><td>03/01/02</td><td>REINVEST</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVESTED</td><td>DICCX</td><td>44,861.87</td><td></td><td>44,861.87</td><td></td></tr></tbody></table>

027



03/29/02;20:33 001


EFTA00198033



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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



CLEARED THROUGH ITS
WHOLLY OWNED SUBSDIARY




Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



5 of 6



INSTITUTIONAL INTERESTS



## **Transaction Detail** (continued)

MONEY FUND ACTIVITY (continued)

<table border="1"><tr><td>DATE MO/DAY</td><td>TRANSACTION</td><td>DESCRIPTION</td><td>SYMBOL/CUSIP</td><td>QUANTITY</td><td>PRICE</td><td>DEBIT AMOUNT</td><td>CREDIT AMOUNT</td></tr><tr><td>03/28/02</td><td></td><td>CLOSINGBALANCE</td><td></td><td>35,946,557.47</td><td></td><td></td><td></td></tr><tr><td>TOTAL</td><td></td><td></td><td></td><td></td><td></td><td>-5,044,861.87</td><td>$44,861.87</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>03/21/02</td><td>INTEREST ON CREDIT BALANCE AT 1 1/4% 02/21 THRU 03/20</td><td></td><td></td><td>1.2500</td><td></td><td>302.80</td></tr><tr><td colspan="7">TOTAL</td><td>$302.80</td></tr></tbody></table>

## MISCELLANEOUS

<table><thead><tr><th>MO/DAY</th><th>TRANSACTION</th><th>DESCRIPTION</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>02/28/02</td><td>JOURNAL</td><td>FROM:<br>PER LOA<br>* JRL *</td><td></td><td>5,000,000.00</td></tr><tr><td colspan="4">TOTAL</td><td>$5,000,000.00</td></tr></tbody></table>

027



03/29/02;20:33 001


V555

EFTA00198034



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 6

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



INSTITUTIONAL INTERESTS



## Your messages

Pursuant to SEC Rule 11Ac1-6, Bear, Stearns & Co., Inc will publicly post its quarterly routing statistics at the following web link: http://www.bearstearns.com/corporate/business/equities/orp.htm





## Bear, Stearns Securities Corp, Net Capital and Net Capital Requirements:

At November 30, 2001 and January 31, 2002, the Company's net capital of approximately $2.6 billion and $2.6 billion was approximately 9% and 8% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately $604.1 million and $648.0 million by approximately $2.0 billion and $2.0 billion, all respectively.

A complete copy of the Bear, Stearns Securities Corp. Statement of Financial Condition is available on the web site www.bearstearns.com. Alternatively, to request a free printed copy please call -toll free 1-866-299-9331.



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


027



03/29/02;20:33 001


V555