Bear Stearns brokerage statement for Jeffrey Epstein, May 2004

EFTA00200862¶

OFFICE SERVICING YOUR ACCOUNT¶

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

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| ACCOUNT EXECUTIVE | ZICHERMAN,IRA |¶

| TELEPHONE | |¶

| VISIT OUR WEBSITE | www.bearstearns.com |¶

What’s In This Statement¶

Financial Summary 3¶

Your Portfolio Holdings … 3¶

Transaction Detail … 5¶

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSIDIARY¶

JEFFREY EPSTEIN¶

C/O FINANCIAL TRUST COMPANY¶

ATTN JEANNE BRENAN¶

6100 RED HOOK QUATER B-3¶

ST THOMAS VI 00802¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | April 30, 2004 |¶

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Your Portfolio at a Glance¶

JEFFREY EPSTEIN¶

ACCOUNT NUMBER¶

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

STATEMENT PERIOD May 1, 2004¶

THROUGH May 28, 2004¶

TOTAL VALUE OF SECURITIES THIS PERIOD*	4,172,342
NET CREDIT BALANCE	108,113
NET EQUITY THIS PERIOD	$4,280,455
NET EQUITY LAST STATEMENT	4,170,996
CHANGE SINCE LAST STATEMENT	109,459

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

Market Value of Your Portfolio¶

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¶

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¶

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Cash Flow Analysis¶

	THIS PERIOD
OpeningBalance	$104,629.07
Dividends/Interest	3,483.51
Amount Credited	$3,483.51
Net Cash Activity	3,483.51
ClosingBalance	$108,112.58

Cash Balance Summary¶

	OPENING	CLOSING
Cash	104,629.07	108,112.58
Net Cash Balance	$104,629.07	$108,112.58

Income Summary¶

	THIS PERIOD	YEAR TO DATE
Dividends	3,440.00	29,218.89
Credit Balance Int.	43.51	185.45
Total	$3,483.51	$29,404.34

CASH & CASH EQUIVALENTS¶

Portfolio Composition¶

Your Portfolio Holdings¶

Cash/Cash Equivalent	108,113
Equities	4,172,342
Total	$4,280,455

DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CASH BALANCE				108,113
TOTAL CASH & CASH EQUIVALENTS				$108,113

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CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

Bear, Stearns Securities Corp.¶

One Metratech Center North¶

Brooklyn, New York 11201-3859¶

JEFFREY EPSTEIN¶

STATEMENT PERIOD May 1, 2004¶

THROUGH May 28, 2004¶

ACCOUNT NUMBER¶

05/29/04;12:32 001¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | April 30, 2004 |¶

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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.¶

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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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Your Portfolio Holdings (continued)¶

EQUITIES¶

Equities & Options¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
CANHORN CHEMICAL CORP	CNCPF	CASH	19	Unpriced
FELCOR LODGING TRUST INC	FCH	CASH	2,000	10.6400	21,280
GLENBOROUGH REALTY TRUST INC	GLB	CASH	2,000	19.0100	38,020	2,800	7.3645
GLIMCHER REALTY TRUST-SBI	GRT	CASH	2,000	22.3300	44,660	3,846	8.6117
HRPT PROPERTIES TR-SBI	HRP	CASH	10,000	9.8500	98,500	8,000	8.1218
HOSPITALITY PROPERTIES TRUST SBI	HPT	CASH	2,000	40.9300	81,860	5,760	7.0364
JOHNSON& JOHNSON	JNJ	CASH	57,800	55.7100	3,220,038	65,892	2.0463
KRAMONT REALTY TRUST	KRT	CASH	2,000	16.1200	32,240	2,600	8.0645
PAN PACIFIC RETAIL PROPERTIES INC	PNP	CASH	436	46.0000	20,056	946	4.7168
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST-SBI	PEI	CASH	1,794	33.3000	59,740	3,875	6.4864
RAMCO GERSHENSON PROPERTIES TRUST-MD SBI	RPT	CASH	12,000	24.2000	290,400	20,160	6.9421
SIRIUS SATELLITE RADIO INC	SIRI	CASH	1,000	3.0000	3,000
TOO INC	TOO	CASH	15,600	16.8300	262,548
Total Equities& Options					$4,172,342	$113,879
TOTAL EQUITIES					$4,172,342	$113,879

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

Bear, Steams Securities Corp.¶

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

JEFFREY EPSTEIN¶

STATEMENT PERIOD May 1, 2004¶

THROUGH May 28, 2004¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | April 30, 2004 |¶

| :--- | :--- |¶

027¶

05/29/04;12:32 001¶

V831¶

EFTA00200866¶

BEAR STEARNS¶

OFFICE SERVICING YOUR ACCOUNT¶

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

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CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSDIARY¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

Your Portfolio Holdings (continued)¶

YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME	$113,879
YOUR PRICED PORTFOLIOHOLDINGS	$4,280,455

Transaction Detail¶

DIVIDENDS¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE ($)	DEBIT AMOUNT	CREDIT AMOUNT
05/20/04	HOSPITALITY PROPERTIES TRUST SBI REC 05/04/04 PAY 05/20/04	HPT	2,000	0.7200		1,440.00
05/24/04	HRPT PROPERTIES TR-SBI SBI REC 04/23/04 PAY 05/24/04	HRP	10,000	0.2000		2,000.00
TOTAL						$3,440.00

STATEMENT PERIOD May 1, 2004¶

THROUGH May 28, 2004¶

AGCOUNT NUMBER¶

JEFFREY EPSTEIN¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | April 30, 2004 |¶

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INTEREST¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE (%)	DEBIT AMOUNT	CREDIT AMOUNT
05/21/04	INTEREST ON CREDIT BALANCE ACCT AT 00,50000% 04/21 - 05/20					43.51
TOTAL						$43.51

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