EFTA00198653



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.
245 Park Avenue
New York, New York 10167

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| ACCOUNT EXECUTIVE | CAYNE,JAMES E. |

| TELEPHONE | |

| VISIT OUR WEBSITE | www.bearstearns.com |



6100 RED HOOK QUARTER STE B-3

ST THOMAS VI 00802



## Premise or Third Party Repurchase Agreements with Bear, Stearns& Co.Inc. outstanding as of date of statement



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



<table border="1"><tr><td>PURCHASE/START DATE</td><td>REPURCHASE/END DATE</td><td>PURCHASE PRICE/PRINCIPAL</td><td>PRICINGRATE</td><td>REPO/ACCRUEDINTEREST*</td><td>NET AMOUNT</td></tr><tr><td>04/26/01</td><td>OPEN</td><td>25,000,000.00</td><td>4.370000</td><td>125,886.12</td><td>25,125,886.12</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>04/26/01</td><td>OPEN</td><td>2,846,031.76</td><td>4.370000</td><td>80,189.60</td><td>2,926,221.36</td></tr><tr><td colspan="5">TOTAL REPURCHASE AGREEMENTS</td><td>$28,052,107.48</td></tr></table>

*As of statement date*

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





Bear, Steams Securities Corp.

One Mebrotech Center North Brooklyn, New York 11201-3859





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





INSTITUTIONAL INTERESTS



STATEMENT PERIOD March 31, 2001

| LAST STATEMENT | March 30, 2001 |

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THROUGH April 27, 2001



ACCOUNT NUMBER



TAXPAYER NUMBER On File

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.

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EFTA00198654



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CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY

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

INSTITUTIONAL INTERESTS

STATEMENT BACKER IS PRINTED ON THIS PAGE

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