Bear Stearns brokerage statement for Jeffrey Epstein, Oct.–Nov. 2001

EFTA00200557¶

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¶

Financial Summary	3
Your Portfolio Holdings	4
Transaction Detail	5
Fund Activity	8

| JEFFREY EPSTEIN |¶

| :--- |¶

| 358 EL BRILLO WAY |¶

| PALM BEACH FL 33480-4730 |¶

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.¶

*This portfolio includes one or more unpriced securities that are not reflected in the Total Value of Securities and the Net Equity This Period.¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

TOTAL VALUE OF SECURITIES THIS PERIOD*	5,721,830
NET DEBIT BALANCE	-2,971,433
NET EQUITY THIS PERIOD	$2,750,397
NET EQUITY LAST STATEMENT	9,281,217
CHANGE SINCE LAST STATEMENT	-6,530,819

Market Value of Your Portfolio¶

| LAST STATEMENT | October 26, 2001 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

ACCOUNT NUMBER¶

STATEMENT PERIOD October 27,2001¶

JEFFREY EPSTEIN¶

THROUGH November 30, 2001¶

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¶

2 of 9¶

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

JEFFREY EPSTEIN¶

STATEMENT BACKER IS PRINTED ON THIS PAGE¶

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BEAR STEARNS¶

OFFICE SERVICING YOUR ACCOUNT¶

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

3 of 9¶

Cash Flow Analysis¶

	THIS PERIOD
OpeningBalance	$0.58
Money Fund	3,532,515.61
Funds Deposited	3,000,000.00
Dividends/Interest	4,545.90
Amount Credited	$6,537,061.51
Money Fund	-8,494.71
Funds Withdrawn	-2,000,000.00
Miscellaneous	-7,500,000.00
Amount Debited	$-9,508,494.71
Net Cash Activity	-2,971,433.20
Closing Balance	$-2,971,432.62

Same day transfers of cash between account types are not included in this section; such transfers, as well as details for all other transactions this period, appear in Transaction Detail.¶

Cash Balance Summary¶

	OPENING	CLOSING
Cash	0.58	0.00
Margin	0.00	-2,971,432.62
Net Cash Balance	$0.58	$-2,971,432.62

Income Summary¶

	THIS PERIOD	YEAR TO DATE
Dividends	4,520.00	82,865.48
Other Dividends	11,781.29	68,516.90
Credit Balance Int.	25.90	32,227.50
Total	$16,327.19	$183,609.88

Portfolio Composition¶

	SHORT	LONG
Cash/Cash Equivalent	2,971,433
Equities		5,721,830
Total	$2,971,433	$5,721,830

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

JEFFREY EPSTEIN¶

STATEMENT PERIOD	October 27, 2001
THROUGH	November 30, 2001
ACCOUNT NUMBER
TAXPAYER NUMBER	On File
LAST STATEMENT	October 26, 2001

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.¶

EFTA00200560¶

BEAR STEARNS¶

OFFICE SERVICING YOUR ACCOUNT¶

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

4 of 9¶

Your Portfolio Holdings¶

CASH & CASH EQUIVALENTS¶

DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CASH BALANCE				-2,971,433
TOTAL CASH & CASH EQUIVALENTS				$-2,971,433

EQUITIES¶

Equities & Options¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
ALLIED WASTE INDUSTRIES INC NEW	AW	MRGN	50,000	11.8400	592,000
CENTER TR INC	CTA	CASH	2,000	4.0300	8,060	320	3.9702
CANHORN CHEMICAL CORP	CNCPF	CASH	19	Unpriced
CROWN AMERICAN REALTY TRUST	CWN	MRGN	5,000	7.9600	39,800	4,200	10.5528
FELCOR LODGING TRUST INC	FCH	MRGN	2,000	16.5800	33,160	4,400	13.2690
GLENBOROUGH REALTY TRUST INC	GLB	MRGN	2,000	18.1300	36,260	3,360	9.2664
GLIMCHER REALTY TRUST-SBI	GRT	MRGN	2,000	18.4800	36,960	3,846	10.4058
HRPT PROPERTIES TR-SBI	HRP	MRGN	10,000	8.4200	84,200	8,000	9.5012
HOSPITALITY PROPERTIES TRUST SBI	HPT	MRGN	2,000	27.4300	54,860	5,680	10.3536
JOHNSON& JOHNSON	JNJ	MRGN	57,800	58.2500	3,366,850	41,616	1.2361
KRAMONT REALTY TRUST	KRT	MRGN	2,000	13.4200	26,840	2,600	9.6870
ORACLE CORP	ORCL	MRGN	100,000	14.0300	1,403,000
RAMCO GERSHENSON PROPERTIES TRUST-MD SBI	RPT	MRGN	2,000	16.4000	32,800	3,360	10.2439

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

JEFFREY EPSTEIN¶

STATEMENT PERIOD October 27,2001¶

THROUGH November 30, 2001¶

AGCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | October 26, 2001 |¶

| :--- | :--- |¶

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BEAR STEARNS¶

OFFICE SERVICING YOUR ACCOUNT¶

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

5 of 9¶

Your Portfolio Holdings (continued)¶

Equities & Options (continued)¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD(%)
SIRIUS SATELLITE RADIO INC	SIRI	MRGN	1,000	7.0400	7,040
Total Equities&Options					$5,721,830	$77,382
TOTAL EQUITIES					$5,721,830	$77,382

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

YOUR TOTAL ESTIMATED ANNUAL INCOME	$77,382
YOUR PRICED PORTFOLIO HOLDINGS	$2,750,397

Bear, Steams Securities Corp.¶

One Metratech Center North Brooklyn, New York 11201-3859¶

INVESTMENT ACTIVITY¶

Transaction Detail¶

JEFFREY EPSTEIN¶

STATEMENT PERIOD October 27, 2001¶

ACCOUNT NUMBER¶

Settlement Date	Trade Date	Transaction	Description	SYMBOL/CUSIP	Quantity	Price	Debit Amount	Credit Amount
11/29/01		JOURNAL	ALLIED WASTE INDUSTRIES INC NEW JOURNAL FROM TYPE 1 TO 2	AW	-50,000
11/29/01		JOURNAL	CROWN AMERICAN REALTY TRUST JOURNAL FROM TYPE 1 TO 2	CWN	-5,000
11/29/01		JOURNAL	FELCOR LODGING TRUST INC JOURNAL FROM TYPE 1 TO 2	FCH	-2,000
11/29/01		JOURNAL	GLENBOROUGH REALTY TRUST INC JOURNAL FROM TYPE 1 TO 2	GLB	-2,000

THROUGH November 30, 2001¶

| LAST STATEMENT | October 26, 2001 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

027¶

12/01/01;10:46 001¶

EFTA00200562¶

OFFICE SERVICING YOUR ACCOUNT¶

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

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

6 of 9¶

JEFFREY EPSTEIN¶

Transaction Detail (continued)¶

STATEMENT PERIOD October 27,2001¶

THROUGH November 30, 2001¶

INVESTMENT ACTIVITY (continued)¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | October 26, 2001 |¶

| :--- | :--- |¶

REIMMENENT DATE	PHONE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
11/29/01	JOURNAL	JOURNAL	GLMCHER REALTY TRUST-SBI JOURNAL FROM TYPE 1 TO 2	GRT	-2,000
11/29/01	JOURNAL	JOURNAL	HRPT PROPERTIES TR-SBI JOURNAL FROM TYPE 1 TO 2	HRP	-10,000
11/29/01	JOURNAL	JOURNAL	HOSPITALITY PROPERTIES TRUST SBI JOURNAL FROM TYPE 1 TO 2	HPT	-2,000
11/29/01	JOURNAL	JOURNAL	JOHNSON& JOHNSON JOURNAL FROM TYPE 1 TO 2	JNJ	-57,800
11/29/01	JOURNAL	JOURNAL	KRAMONT REALTY TRUST JOURNAL FROM TYPE 1 TO 2	KRT	-2,000
11/29/01	JOURNAL	JOURNAL	ORACLE CORP JOURNAL FROM TYPE 2 TO 1	ORCL	100,000
11/29/01	JOURNAL	JOURNAL	ORACLE CORP JOURNAL FROM TYPE 1 TO 2	ORCL	-100,000
11/29/01	JOURNAL	JOURNAL	RAMCO GERSHENSON PROPERTIES TRUST-MD SBI JOURNAL FROM TYPE 1 TO 2	RPT	-2,000
11/29/01	JOURNAL	JOURNAL	SIRIUS SATELLITE RADIO INC JOURNAL FROM TYPE 1 TO 2	SIRI	-1,000
11/29/01	JOURNAL	JOURNAL	ALLIED WASTE INDUSTRIES INC NEW JOURNAL FROM TYPE 1 TO 2	AW	50,000
11/29/01	JOURNAL	JOURNAL	CROWN AMERICAN REALTY TRUST JOURNAL FROM TYPE 1 TO 2	CWN	5,000
11/29/01	JOURNAL	JOURNAL	FELCOR LODGING TRUST INC JOURNAL FROM TYPE 1 TO 2	FCH	2,000
11/29/01	JOURNAL	JOURNAL	GLENBOROUGH REALTY TRUST INC JOURNAL FROM TYPE 1 TO 2	GLB	2,000
11/29/01	JOURNAL	JOURNAL	GLMCHER REALTY TRUST-SBI JOURNAL FROM TYPE 1 TO 2	GRT	2,000

027¶

12/01/01;10:46 001¶

EFTA00200563¶

BEAR STEARNS¶

OFFICE SERVICING YOUR ACCOUNT¶

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

CLEARED THROUGH ITS CLEARLY WOUNDED SUBSIDIARY¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

7 of 9¶

JEFFREY EPSTEIN¶

Transaction Detail (continued)¶

STATEMENT PERIOD October 27, 2001¶

INVESTMENT ACTIVITY (continued)¶

THROUGH November 30, 2001¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | October 26, 2001 |¶

| :--- | :--- |¶

SETTLEMENT DATE	TRADE DATE	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
11/29/01		JOURNAL	HRPT PROPERTIES TR-SBI JOURNAL FROM TYPE 1 TO 2	HRP	10,000
11/29/01		JOURNAL	HOSPITALITY PROPERTIES TRUST SBI JOURNAL FROM TYPE 1 TO 2	HPT	2,000
11/29/01		JOURNAL	JOHNSON& JOHNSON JOURNAL FROM TYPE 1 TO 2	JNJ	57,800
11/29/01		JOURNAL	KRAMONT REALTY TRUST JOURNAL FROM TYPE 1 TO 2	KRT	2,000
11/29/01		JOURNAL	ORACLE CORP JOURNAL FROM TYPE 1 TO 2	ORCL	100,000
11/29/01		JOURNAL	ORACLE CORP JOURNAL FROM TYPE 2 TO 1	ORCL	-100,000
11/29/01		JOURNAL	RAMCO GERSHENSON PROPERTIES TRUST-MD SBI JOURNAL FROM TYPE 1 TO 2	RPT	2,000
11/29/01		JOURNAL	SIRIUS SATELLITE RADIO INC JOURNAL FROM TYPE 1 TO 2	SIRI	1,000

DEPOSITS AND WITHDRAWALS¶

DATE	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
11/13/01	FND WIRED	MDA#MB191958FNDSWIRED TO PALM BEACH NATL BK & TR CO FD#01693 $ COMING FROM MONEY FUND	2,000,000.00
11/29/01	FUNDS REC	FNDSWIRED TO CITIBANK FROM PALM BEACH BK F05133300A9801		1,300,000.00

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EFTA00200564¶

BEAR STEARNS¶

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

CLEARED THROUGH ITS¶

CLEARLY WOUNDED SUBSIDIARY¶

8 of 9¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

JEFFREY EPSTEIN¶

Transaction Detail (continued)¶

STATEMENT PERIOD October 27, 2001¶

DEPOSITS AND WITHDRAWALS (continued)¶

THROUGH November 30, 2001¶

ACCOUNT NUMBER¶

DATE	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
11/29/01	FUNDS REC	FNDS WIRED TO CITIBANK FROM MORGAN STANLEY DW INC		1,700,000.00
TOTAL			-$2,000,000.00	$3,000,000.00

| LAST STATEMENT | October 26, 2001 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

MONEY FUND ACTIVITY¶

DATE MODAY	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
10/27/01		OPENINGBALANCE		3,512,239.61
11/01/01	DIVIDEND	DREYFUS TAX EXEMPT CASH MANAGEMENT INSTL SH MONTHLY DIVIDEND	26202K205				8,494.71
11/01/01	REINVEST	DREYFUS TAX EXEMPT CASH MANAGEMENT INSTL SH DIVIDEND REINVESTED	26202K205	8,494.71		8,494.71
11/13/01	SOLD	DREYFUS TAX EXEMPT CASH MANAGEMENT INSTL SH	26202K205	-2,000,000	1.0000		2,000,000.00
11/29/01	SOLD	DREYFUS TAX EXEMPT CASH MANAGEMENT INSTL SH	26202K205	-1,520,734.32	1.0000		1,520,734.32
11/29/01	DIVIDEND	DREYFUS TAX EXEMPT CASH MANAGEMENT INSTL SH DIV	26202K205				3,286.58
11/30/01		CLOSINGBALANCE		0.00
TOTAL						-8,494.71	$3,532,515.61

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EFTA00200565¶

BEAR STEARNS¶

OFFICE SERVICING YOUR ACCOUNT¶

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

CLEARED THROUGH ITS WHOLLY OWNED SUBSDIARY¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

9 of 9¶

JEFFREY EPSTEIN¶

Transaction Detail (continued)¶

STATEMENT PERIOD October 27,2001¶

DIVIDENDS¶

THROUGH November 30, 2001¶

AGCOUNT NUMBER¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE ($)	DEBIT AMOUNT	CREDIT AMOUNT
10/31/01	FELCOR LODGING TRUST INC	FCH	2,000	0.5500		1,100.00
	REC 10/01/01 PAY 10/31/01
11/21/01	HRPT PROPERTIES TR-SBI	HRP	10,000	0.2000		2,000.00
	REC 10/22/01 PAY 11/21/01
11/23/01	HOSPITALITY PROPERTIES TRUST	HPT	2,000	0.7100		1,420.00
	SBI REC 10/25/01 PAY 11/22/01
TOTAL						$4,520.00

TAXPAYER NUMBER On File¶

| LAST STATEMENT | October 26, 2001 |¶

| :--- | :--- |¶

INTEREST¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
11/21/01	INTEREST ON CREDIT BALANCE AT 2,000% 10/21 THRU 11/05			2.0000		25.90
TOTAL							$25.90

MISCELLANEOUS¶

DATE MO/DAY	TRANSACTION	DESCRIPTION	DEBIT AMOUNT	CREDIT AMOUNT
11/29/01	JOURNAL	JOURNAL FROM TYPE 1 TO 2	2,828,567.38
11/29/01	JOURNAL	JOURNAL FROM TYPE 1 TO 2		2,828,567.38
11/30/01	JOURNAL	JOURNAL FROM TYPE 1 TO 2	1,700,000.00
11/30/01	JOURNAL	TO LOA	7,500,000.00
11/30/01	JOURNAL	JOURNAL FROM TYPE 1 TO 2		1,700,000.00
TOTAL			-$12,028,567.38	$4,528,567.38

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