EFTA00199014

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 border="1"><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><tr><td>Fund Activity</td><td>4</td></tr><tr><td>Your Messages</td><td>5</td></tr></table>





# INTERNATIONAL CHARITABLE

INTERESTS II DTD 08/30/94

FINCL TR CO INC TTEE \*

ATTN JEANIE BRENNAN

6100 RED HOOK QUARTER STE B-3

ST THOMAS VI 00802



CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



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

Your Portfolio at a Glance

<table><thead><tr><th>NET CREDIT BALANCE</th><td>245</td></tr></thead><tbody><tr><td>MONEY MARKET FUND BALANCE</td><td>2,473,067</td></tr><tr><td><strong>NET EQUITY THIS PERIOD</strong></td><td>$2,473,312</td></tr><tr><td><strong>NET EQUITY LAST STATEMENT</strong></td><td>5,769,074</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>-3,295,762</td></tr></tbody></table>

Market Value of Your Portfolio

Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859

| LAST STATEMENT | December 31, 2003 |

| :--- | :--- |

ACCOUNT NUMBER

STATEMENT PERIOD January 1, 2004



INTERNATIONAL CHARITABLE



TAXPAYER NUMBER On File

THROUGH January 30, 2004

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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CLEARED THROUGH ITS
WHOLLY OWNED SUBSIDIARY

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

STATEMENT BACKER IS PRINTED ON THIS PAGE



INTERNATIONAL CHARITABLE


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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179

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## Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$245.45</td></tr><tr><td>Money Fund</td><td>3,304,238.58</td></tr><tr><td>Amount Credited</td><td>$3,304,238.58</td></tr><tr><td>Money Fund</td><td>-4,238.58</td></tr><tr><td>Funds Withdrawn</td><td>-200,000.00</td></tr><tr><td>Miscellaneous</td><td>-3,100,000.00</td></tr><tr><td>Amount Debited</td><td>$-3,304,238.58</td></tr><tr><td>ClosingBalance</td><td>$245.45</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>245.45</td><td>245.45</td></tr><tr><td>Net Cash Balance</td><td>$245.45</td><td>$245.45</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>2,473,312</td></tr><tr><td>Total</td><td>$2,473,312</td></tr></table>

## 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>245</td><td></td><td></td></tr><tr><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD ,9000%</td><td>DICXX</td><td>2,473,067.47</td><td>1.0000</td><td>2,473,067</td><td>22,258</td><td>0.9000</td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$2,473,312</td><td>$22,258</td><td></td></tr></tbody></table>

<table border="1"><tr><td>YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME</td><td>$22,258</td></tr><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$2,473,312</td></tr></table>

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CLEARED THROUGH ITS

WHOLLY OWNED SUBSIDIARY



Bear, Steams Securities Corp.

One Metrotech Center North

Brooklyn, New York 11201-3859



INTERNATIONAL CHARITABLE



STATEMENT PERIOD January 1, 2004

THROUGH January 30, 2004



ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | December 31, 2003 |

| :--- | :--- |

Your Portfolio Allocation

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

EFTA00199017



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear, Stearns & Co. Inc.
383 Madison Avenue
New York, New York 10179



CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY



4 of 5



Bear, Steams Securities Corp.

One Metrotech Center North Brooklyn, New York 11201-3859





INTERNATIONAL CHARITABLE





Transaction Detail


DEPOSITS AND WITHDRAWALS

STATEMENT PERIOD January 1, 2004

THROUGH January 30, 2004



ACCOUNT NUMBER



TAXPAYER NUMBER On File

| LAST STATEMENT | December 31, 2003 |

| :--- | :--- |

## 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>01/01/04</td><td></td><td>OPENINGBALANCE</td><td></td><td>5,768,828.89</td><td></td><td></td><td></td></tr></tbody></table>

<table><thead><tr><th>01/02/04</th><td>REINVEST</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVEST</td><td>DICXX</td><td>4,238.58</td><td></td><td>4,238.58</td><td></td></tr></thead><tbody><tr><td>01/02/04</td><td>DIVIDEND</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES AMT INCLUDED IN</td><td>DICXX</td><td></td><td></td><td></td><td>4,238.58</td></tr><tr><td>01/08/04</td><td>SOLD</td><td>DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES</td><td>DICXX</td><td>-3,300,000</td><td>1.0000</td><td></td><td>3,300,000.00</td></tr><tr><td>01/30/04</td><td></td><td>CLOSINGBALANCE</td><td></td><td>2,473,067.47</td><td></td><td></td><td></td></tr><tr><td colspan="5">TOTAL</td><td></td><td>-$4,238.58</td><td>$3,304,238.58</td></tr></tbody></table>

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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT

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



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## **Transaction Detail** (continued)

## MISCELLANEOUS



CLEARED THROUGH ITS

CLEARLY WOUNDED SUBSIDIARY



<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>01/08/04</td><td>JOURNAL</td><td>TO PER LOA</td><td>3,100,000.00</td><td></td></tr><tr><td colspan="3">TOTAL</td><td>-$-3,100,000.00</td><td></td></tr></tbody></table>

Excess SIPC Account Protection Update



Bear, Steams Securities Corp.

One Metrotech Center North Brooklyn, New York 11201-3859

## Your messages

Effective February 16, 2004, the commercial insurer through which Bear, Stearns Securities Corp. obtains excess SIPC protection will change to Customer Asset Protection Company ("CAPCO"), a New York licensed insurance company. CAPCO has an A+ financial strength rating from Standard and Poor's.



INTERNATIONAL CHARITABLE



STATEMENT PERIOD January 1, 2004

| LAST STATEMENT | December 31, 2003 |

| :--- | :--- |

THROUGH January 30, 2004



ACCOUNT NUMBER



TAXPAYER NUMBER On File



The interest, if any, charged to your account during December 2003 was computed on the net debit balance through December 30. The interest, if any, charged to your account during January 2004 is computed from December 31, 2003.



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


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