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## What’s In This Statement

<table><tr><td>Financial Summary</td><td>3</td></tr><tr><td>Your Portfolio Holdings</td><td>3</td></tr><tr><td>Transaction Detail</td><td>4</td></tr></table>





# INSTITUTIONAL INTERESTS

PR/AC

C/O FINANCIAL TRUST COMPANY

ATTN LARRY KEMP



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



## 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>NET CREDIT BALANCE</td><td>635</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$635</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>633</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>2</td></tr></table>





INSTITUTIONAL INTERESTS



Market Value of Your Portfolio

| STATEMENT PERIOD | June 30, 2001 |

| :--- | :--- |

| THROUGH | July 27, 2001 |

| LAST STATEMENT | June 29, 2001 |

| :--- | :--- |

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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## Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>Opening Balance</td><td>$633.39</td></tr><tr><td>Dividends/Interest</td><td>1.80</td></tr><tr><td>Amount Credited</td><td>$1.80</td></tr><tr><td>Net Cash Activity</td><td>1.80</td></tr><tr><td>Closing Balance</td><td>$635.19</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>633.39</td><td>635.19</td></tr><tr><td>Net Cash Balance</td><td>$633.39</td><td>$635.19</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>0.00</td><td>3,068.13</td></tr><tr><td>Credit Balance Int.</td><td>1.80</td><td>3,296.70</td></tr><tr><td>Total</td><td>$1.80</td><td>$6,364.83</td></tr><tr><td>Margin Int. Paid</td><td>0.00</td><td>-13.16</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>635</td></tr><tr><td>Total</td><td>$635</td></tr></table>

CASH & CASH EQUIVALENTS

## Your Portfolio Holdings

<table border="1"><tr><td>DESCRIPTION</td><td>SYMBOL/CUSIP</td><td>QUANTITY</td><td>PRICE</td><td>MARKET VALUE</td><td>ESTIMATED ANNUAL INCOME</td></tr><tr><td>CASH BALANCE</td><td></td><td></td><td></td><td>635</td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$635</td><td></td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



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INSTITUTIONAL INTERESTS



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.

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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.

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CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY





## Your Portfolio Holdings (continued)

YOUR PRICEDPORTFOLIOHOLDINGS



INSTITUTIONAL INTERESTS





INTEREST




Transaction Detail


<table><thead><tr><th>DATE</th><th colspan="3">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>07/23/01</td><td>INT CR</td><td></td><td>JUL 01</td><td></td><td></td><td></td><td></td><td>1.80</td></tr><tr><td colspan="9">TOTAL</td><td>$1.80</td></tr></tbody></table>





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


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