EFTA00198706

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



CLEARED THROUGH ITS

WHOLLY OWNED SUBSDIARY



| | |

| :--- | :--- |

| ACCOUNT EXECUTIVE | ZICHERMAN, IRA |

| TELEPHONE | |

| VISIT OUR WEBSITE | www.bearstearns.com |

<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>4</td></tr></table>

## What’s In This Statement





# 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 Metratech Center North

Brooklyn, New York 11201-3859

INTERNATIONAL CHARITABLE INTS

STATEMENT PERIOD April 28, 2001

ACCOUNT NUMBER

THROUGH May 25, 2001

TAXPAYER NUMBER On File

| LAST STATEMENT | April 27, 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>25,030</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$25,030</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>17,630</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>7,401</td></tr></table>

Market Value of Your Portfolio

## Important Message

In an effort to deliver statements to you more efficiently, Bear Stearns has enhanced the distribution of statements to household accounts.

Beginning in June, all statements with the same Address and Social Security number / Taxpayer identification number will be mailed in a single 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 05/26/01:10:08 001

V478

EFTA00198707



CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY


2 of 5

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

STATEMENT BACKER IS PRINTED ON THIS PAGE



INTERNATIONAL CHARITABLE INTS


027

EFTA00198708



BEAR
STEARNS


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

3 of 5

Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$17,629.79</td></tr><tr><td>Funds Deposited</td><td>1,803,485.76</td></tr><tr><td>Dividends/Interest</td><td>3,914.74</td></tr><tr><td>Amount Credited</td><td>$1,807,400.50</td></tr><tr><td>Funds Withdrawn</td><td>-1,800,000.00</td></tr><tr><td>Amount Debited</td><td>$-1,800,000.00</td></tr><tr><td>Net Cash Activity</td><td>7,400.50</td></tr><tr><td>ClosingBalance</td><td>$25,030.29</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>17,629.79</td><td>25,030.29</td></tr><tr><td>Net Cash Balance</td><td>$17,629.79</td><td>$25,030.29</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>3,914.74</td><td>4,935.89</td></tr><tr><td>Total</td><td>$3,914.74</td><td>$4,935.89</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>25,030</td></tr><tr><td>Total</td><td>$25,030</td></tr></table>

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



INTERNATIONAL CHARITABLE INTS



| STATEMENT PERIOD | April 28, 2001 |
| :--- | :--- |
| THROUGH | May 25, 2001 |

<table><thead><tr><th>ACCOUNT NUMBER</th><td></td></tr></thead><tbody><tr><td>TAXPAYER NUMBER</td><td>On File</td></tr><tr><td>LAST STATEMENT</td><td>April 27, 2001</td></tr></tbody></table>



05/26/01;10:08 001


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

EFTA00198709



BEAR
STEARNS


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

4 of 5

## Your Portfolio Holdings

CASH & CASH EQUIVALENTS

<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>25,030</td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$25,030</td><td></td></tr></table>



CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

<table><thead><tr><th>YOUR PRICED PORTFOLIO HOLDINGS</th><th>$25,030</th></tr></thead></table>



INTERNATIONAL CHARITABLE INTS



STATEMENT PERIOD April 28, 2001

## INVESTMENT ACTIVITY

THROUGH May 25, 2001



Transaction Detail




ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | April 27, 2001 |

| :--- | :--- |

<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>05/22/01</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>0262</td><td></td><td>7,587,000</td><td></td><td></td><td></td></tr><tr><td>05/22/01</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



05/26/01;10:08 001


EFTA00198710



BEAR
STEARNS


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



CLEARED THROUGH ITS
CLEARLY WOUNDED SUBSIDIARY



**5 of 5**

## **Transaction Detail** (continued)

DEPOSITS AND WITHDRAWALS

<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>05/01/01</td><td>FUNDS REC</td><td>FNDS WIRED TO CITIBANK FROM BK OF NYC</td><td></td><td>1,803,485.76</td></tr><tr><td>05/22/01</td><td>FND WIRED</td><td>MDA NDS WIRED TO CUSTODIAL TRUST COMPANY</td><td>1,800,000.00</td><td></td></tr><tr><td colspan="3">TOTAL</td><td>-$1,800,000.00</td><td>$1,803,485.76</td></tr></tbody></table>



Bear, Steams Securities Corp.

One Metrotech Center North Brooklyn, New York 11201-3859





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>05/21/01</td><td>INTEREST ON CREDIT BALANCE AT 3 1/2% 05/15 THRU 05/20</td><td></td><td></td><td>3.5000</td><td></td><td>1,062.32</td></tr><tr><td>05/21/01</td><td>INTEREST ON CREDIT BALANCE AT 4,000% 04/21 THRU 05/14</td><td></td><td></td><td>4.0000</td><td></td><td>2,852.42</td></tr><tr><td colspan="6">TOTAL</td><td>$3,914.74</td></tr></tbody></table>



INTERNATIONAL CHARITABLE INTS



ACCOUNT NUMBER

STATEMENT PERIOD April 28, 2001

| LAST STATEMENT | April 27, 2001 |

| :--- | :--- |

THROUGH May 25, 2001

TAXPAYER NUMBER On File





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


027



05/26/01;10:08 001