EFTA00198700

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



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | ZICHERMAN, IRA |

| TELEPHONE | |

| VISIT OUR WEBSITE | www.bearstearns.com |

Your Portfolio Holdings ... 4

Transaction Detail ... 4

Fund Activity 5

## What’s In This Statement

Your Messages 6





# INTERNATIONAL CHARITABLE INTS

FINANCIAL TRUST CO TTEE

DTD 4-28-94

ATTN JEANIE BRENNAN

6100 RED HOOK QUARTE STE B-3

ST THOMAS VI 00802

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



INTERNATIONAL CHARITABLE INTS



ACCOUNT NUMBER

TAXPAYER NUMBER On File

STATEMENT PERIOD May 26, 2001

| LAST STATEMENT | May 25, 2001 |

| :--- | :--- |

THROUGH June 29, 2001

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>72,781</td></tr><tr><td>MONEY MARKET FUND BALANCE</td><td>2,900,000</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$2,972,781</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>25,030</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>2,947,751</td></tr></table>

Market Value of Your Portfolio

## Important Message

Please note: You may find more than one statement in this envelope. Beginning this month, all statements with the same Address and Social Security number / Taxpayer Identification number are being mailed in one envelope. For further details, please contact your account executive.

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 06/30/01;23:28 001

EFTA00198701



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY




2 of 6


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



INTERNATIONAL CHARITABLE INTS


STATEMENT BACKER IS PRINTED ON THIS PAGE

027

EFTA00198702



BEAR
STEARNS


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

3 of 6

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$25,030.29</td></tr><tr><td>Funds Deposited</td><td>2,800,000.00</td></tr><tr><td>Dividends/Interest</td><td>493.82</td></tr><tr><td>Miscellaneous</td><td>147,257.22</td></tr><tr><td>Amount Credited</td><td>$2,947,751.04</td></tr><tr><td>Money Fund</td><td>-2,900,000.00</td></tr><tr><td>Amount Debited</td><td>$-2,900,000.00</td></tr><tr><td>Net Cash Activity</td><td>47,751.04</td></tr><tr><td>Closing Balance</td><td>$72,781.33</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>25,030.29</td><td>72,781.33</td></tr><tr><td>Net Cash Balance</td><td>$25,030.29</td><td>$72,781.33</td></tr></table>

Income Summary

<table border="1"><tr><td></td><td>THIS PERIOD</td><td>YEAR TO DATE</td></tr><tr><td>Credit Balance Int.</td><td>493.82</td><td>5,429.71</td></tr><tr><td>Total</td><td>$493.82</td><td>$5,429.71</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>2,972,781</td></tr><tr><td>Total</td><td>$2,972,781</td></tr></table>

027

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY

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



INTERNATIONAL CHARITABLE INTS



| STATEMENT PERIOD | May 26, 2001 |
| :--- | :--- |
| THROUGH | June 29, 2001 |

<table><thead><tr><th>ACCOUNT NUMBER</th><th></th></tr></thead><tbody><tr><td>TAXPAYER NUMBER</td><td>On File</td></tr><tr><td>LAST STATEMENT</td><td>May 25, 2001</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.

EFTA00198703



BEAR
STEARNS


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

4 of 6

## Your Portfolio Holdings

## CASH & CASH EQUIVALENTS

<table border="1"><tr><td>DESCRIPTION</td><td>SYMBOL/CUSP</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>72,781</td><td></td></tr><tr><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICCX</td><td>2,900,000</td><td>1.0000</td><td>2,900,000</td><td>133,400</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$2,972,781</td><td>$133,400</td></tr><tr><td>YOUR TOTAL ESTIMATED ANNUAL INCOME</td><td></td><td></td><td></td><td>$133,400</td><td></td></tr><tr><td>YOUR PRICED PORTFOLIO HOLDINGS</td><td></td><td></td><td></td><td>$2,972,781</td><td></td></tr></table>



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

## INVESTMENT ACTIVITY



Transaction Detail




INTERNATIONAL CHARITABLE INTS



STATEMENT PERIOD May 26, 2001

THROUGH June 29, 2001



ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | May 25, 2001 |

| :--- | :--- |

<table><thead><tr><th>SETLEMENT 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>06/04/01</td><td></td><td>RECEIVED</td><td>UNITED MTG SECS CORP<br>SERIES 93-1 CL B-2<br>0,001 DUE 11/25/03<br>DUE 11/25/2003 0,001</td><td></td><td>7,587,000</td><td></td><td></td><td></td></tr><tr><td>06/05/01</td><td></td><td>JOURNAL</td><td>UNITED MTG SECS CORP<br>SERIES 93-1 CL B-2<br>0,001 DUE 11/25/03<br>ACAT REVERSAL</td><td></td><td>-7,587,000</td><td></td><td></td><td></td></tr><tr><td colspan="9">TOTAL</td></tr></tbody></table>

027



06/30/01;23:28 001


V481

EFTA00198704



BEAR
STEARNS


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



CLEARED THROUGH ITS
CLEARLY WOUNDED SUBSIDIARY





Bear, Steams Securities Corp.

One Metratech Center North

Brooklyn, New York 11201-3859



**5 of 6**



INTERNATIONAL CHARITABLE INTS



## **Transaction Detail** (continued)

STATEMENT PERIOD May 26, 2001

## DEPOSITS AND WITHDRAWALS

THROUGH June 29, 2001

ACCOUNT NUMBER

<table><thead><tr><th>DATE</th><th>TRANSACTION</th><th>DESCRIPTION</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>06/25/01</td><td>FUNDS REC</td><td>FNDS WIRED TO CITIBANK FROM CTC NJ F0511760134701</td><td></td><td>2,800,000.00</td></tr><tr><td colspan="4">TOTAL</td><td>$2,800,000.00</td></tr></tbody></table>

TAXPAYER NUMBER On File

| LAST STATEMENT | May 25, 2001 |

| :--- | :--- |

## 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>05/26/01</td><td></td><td>OPENINGBALANCE</td><td></td><td>0.00</td><td></td><td></td><td></td></tr><tr><td>06/25/01</td><td>BOUGHT</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES BUY FD</td><td>DICCX</td><td>2,800,000</td><td>1.0000</td><td>2,800,000.00</td><td></td></tr><tr><td>06/26/01</td><td>BOUGHT</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES BUY FD</td><td>DICCX</td><td>100,000</td><td>1.0000</td><td>100,000.00</td><td></td></tr><tr><td>06/29/01</td><td></td><td>CLOSINGBALANCE</td><td></td><td>2,900,000</td><td></td><td></td><td></td></tr><tr><td colspan="4">TOTAL</td><td></td><td></td><td>$-2,900,000.00</td><td></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>06/21/01</td><td>INTEREST ON CREDIT BALANCE AT 3 1/2% 05/21 THRU 06/20</td><td></td><td></td><td>3.5000</td><td></td><td>493.82</td></tr><tr><td colspan="7">TOTAL</td><td>$493.82</td></tr></tbody></table>

027



06/30/01;23:28 001


EFTA00198705



BEAR
STEARNS


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

6 of 6

## **Transaction Detail** (continued)

## MISCELLANEOUS

<table><thead><tr><th>DATE MO/DAY</th><th>TRANSACTION</th><th>DESCRIPTION</th><th>DEBIT AMOUNT</th><th>CREDIT AMOUNT</th></tr></thead><tbody><tr><td>06/04/01</td><td>RECEIVED</td><td>BALANCE TRANSFERRED</td><td></td><td>147,257.22</td></tr><tr><td>TOTAL</td><td></td><td></td><td></td><td>$147,257.22</td></tr></tbody></table>

## Your messages



Confirmation:

Unless we hear from you to the contrary, It is our understanding that any free credit balances in your account are being maintained to facilitate your intention to invest such amounts through us.



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





CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



INTERNATIONAL CHARITABLE INTS



STATEMENT PERIOD May 26, 2001

THROUGH June 29, 2001

AGCOUNT NUMBER

| LAST STATEMENT | May 25, 2001 |

| :--- | :--- |

TAXPAYER NUMBER On File

027



06/30/01;23:28 001


V481