Bear Stearns account statement for Jeffrey Epstein, August 2006

EFTA00201017¶

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¶

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSIDIARY¶

What’s In This Statement¶

Financial Summary 3¶

Your Portfolio Holdings … 4¶

Transaction Detail

6

Fund Activity 6¶

JEFFREY EPSTEIN¶

C/O FINANCIAL TRUST COMPANY¶

ATTN JEANNE BRENAN¶

6100 RED HOOK QUATER B-3¶

ST THOMAS VI 00802-1348¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

TAXPAYER NUMBER On File¶

JEFFREY EPSTEIN¶

| LAST STATEMENT | July 31, 2006 |¶

| :--- | :--- |¶

STATEMENT PERIOD August 1, 2006¶

ACCOUNT NUMBER¶

Your Portfolio at a Glance¶

THROUGH August 31, 2006¶

TOTAL VALUE OF SECURITIES THIS PERIOD	4,583,830
MONEY MARKET FUND BALANCE	12,451,687
NET EQUITY THIS PERIOD	$17,035,517
NET EQUITY LAST STATEMENT	9,084,654
CHANGE SINCE LAST STATEMENT	7,950,863

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

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 Metratech 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	$63,052.55
Money Fund	5,025,467.24
Funds Deposited	12,749,804.62
Dividends/Interest	3,580.00
Amount Credited	$17,778,851.86
Money Fund	-12,841,904.41
Funds Withdrawn	-5,000,000.00
Amount Debited	$-17,841,904.41
Net Cash Activity	-63,052.55
Closing Balance	$0.00

Cash Balance Summary¶

	OPENING	CLOSING
Cash	63,052.55	0.00
Net Cash Balance	$63,052.55	$0.00

Income Summary¶

	THIS PERIOD	YEAR TO DATE
Dividends	31,147.24	111,712.85
Total	$31,147.24	$111,712.85

Portfolio Composition¶

Cash/Cash Equivalent	12,451,687
Equities	4,583,830
Total	$17,035,517

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Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

STATEMENT PERIOD August 1, 2006¶

JEFFREY EPSTEIN¶

THROUGH August 31, 2006¶

ACCOUNT NUMBER¶

Your Portfolio Allocation¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | July 31, 2006 |¶

| :--- | :--- |¶

Unhaded 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¶

4 of 7¶

Your Portfolio Holdings¶

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶

CASH & CASH EQUIVALENTS¶

DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 5.2300%	DICXX	12,451,687.04	1.0000	12,451,687	659,939	5.3000
TOTAL CASH & CASH EQUIVALENTS				$12,451,687	$659,939

Equities & Options¶

EQUITIES¶

The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock’s total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: O = Outperform; P = Peer Perform; U = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available. The various providers use different ratings systems and have normalized them as follows: B = Buy; H = Hold; S = Sell (this may not always correspond directly to the underlying rating system used by each provider or BSC). The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal, or investment advice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons.¶

Independent, third-party research on certain companies covered by the Firm’s research is available to customers of Bear Stearns at no cost. Customers can access this research at www.bearstearns.com or can call (800) 517-2327 to request that a copy of this research be sent to them.¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

STATEMENT PERIOD August 1, 2006¶

AGCOUNT NUMBER¶

JEFFREY EPSTEIN¶

| LAST STATEMENT | July 31, 2006 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

| THROUGH | August 31, 2006 |¶

| :--- | :--- |¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD(%)
FELCOR LODGING TRUST INC	FCH	CASH	2,000	21.4500	42,900	1,600	3.7296
GLENBOROUGH REALTY TRUST INC BSC RATING:STOCK P/SECTOR MW NED DAVIS RESEARCH RATING:H	GLB	CASH	2,000	25.8100	51,620	2,200	4.2619
GLIMCHER REALTY TRUST-SBI	GRT	CASH	2,000	24.4000	48,800	3,846	7.8811
HRPT PROPERTIES TR-SBI	HRP	CASH	10,000	11.6000	116,000	8,400	7.2414

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EFTA00201021¶

BEAR STEARNS¶

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

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶

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

5 of 7¶

Your Portfolio Holdings (continued)¶

JEFFREY EPSTEIN¶

Equities & Options (continued)¶

STATEMENT PERIOD August 1, 2006¶

DESCRIPTION	SYMBOL/CUSIP	ACCT TYPE	QUANTITY	PRICE	MARKET VALUE	ESTIMATED ANNUAL INCOME	CURRENT YIELD (%)
HOSPITALITY PROPERTIES TRUST SBI	HPT	CASH	2,000	46.3200	92,640	5,920	6.3903
JOHNSON & JOHNSON BSC RATING: STOCK P/SECTOR MO NED DAVIS RESEARCH RATING: B	JNJ	CASH	57,800	64.6600	3,737,348	86,700	2.3198
WTS LUCENT TECHNOLOGIES INC EXP 12/10/2007	LUTHW	CASH	235	0.2350	55
NAYARIT GOLD INC	NYRTF	CASH	19	0.6870	13
PAN PACIFIC RETAIL PROPERTIES INC	PNP	CASH	436	69.8200	30,442	1,116	3.6660
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST-SBI	PEI	CASH	1,794	42.3200	75,922	4,090	5.3871
RAMCO GERSHENSON PROPERTIES TRUST-MD SBI	RPT	CASH	12,000	32.0000	384,000	21,480	5.5938
SIRIUS SATELLITE RADIO INC BSC RATING: STOCK O/SECTOR MW ATLANTIS RESEARCH RATING: B	SIRI	CASH	1,000	4.0900	4,090
Total Equities& Options					$4,583.830	$135.352
TOTAL EQUITIES					$4,583.830	$135.352

THROUGH August 31, 2006¶

AGCOUNT NUMBER¶

| LAST STATEMENT | July 31, 2006 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME	$795,291
YOUR PRICED PORTFOLIOHOLDINGS	$17,035,517

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09/01/06:07:58 001¶

EFTA00201022¶

BEAR STEARNS¶

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

CLEARED THROUGH ITS¶

WHOLLY OWNED SUBSIDIARY¶

6 of 7¶

Bear, Steams Securities Corp.¶

One Metrotech Center North¶

Brooklyn, New York 11201-3859¶

Transaction Detail¶

DEPOSITS AND WITHDRAWALS¶

JEFFREY EPSTEIN¶

STATEMENT PERIOD August 1, 2006¶

THROUGH August 31, 2006¶

ACCOUNT NUMBER¶

TAXPAYER NUMBER On File¶

| LAST STATEMENT | July 31, 2006 |¶

| :--- | :--- |¶

DATE MO/DAY	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
08/01/06		OPENINGBALANCE		4,607,682.63

MONEY FUND ACTIVITY¶

08/01/06	BOUGHT	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICXX	63,052.55	1.0000	63,052.55
08/01/06	DIVIDEND	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES MONTHLY DIVIDEND	DICXX				27,567.24
08/01/06	REINVEST	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIVIDEND REINVEST	DICXX	27,567.24		27,567.24

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027¶

V914¶

EFTA00201023¶

BEAR STEARNS¶

OFFICE SERVICING YOUR ACCOUNT¶

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

CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶

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

7 of 7¶

JEFFREY EPSTEIN¶

Transaction Detail (continued)¶

STATEMENT PERIOD August 1, 2006¶

THROUGH August 31, 2006¶

MONEY FUND ACTIVITY (continued)¶

| LAST STATEMENT | July 31, 2006 |¶

| :--- | :--- |¶

TAXPAYER NUMBER On File¶

DATE MO/DAY	TRANSACTION	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	PRICE	DEBIT AMOUNT	CREDIT AMOUNT
08/07/06	SOLD	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICXX	-1,000,000	1.0000		1,000,000.00
08/11/06	SOLD	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICXX	-2,000,000	1.0000		2,000,000.00
08/15/06	BOUGHT	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICXX	12,749,804.62	1.0000	12,749,804.62
08/17/06	BOUGHT	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICXX	1,480	1.0000	1,480.00
08/17/06	SOLD	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICXX	-1,000,000	1.0000		1,000,000.00
08/25/06	SOLD	DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES	DICXX	-997,900	1.0000		997,900.00

08/31/06	CLOSINGBALANCE	12,451,687.04
TOTAL		-12,841,904.41	$5,025,467.24

DIVIDENDS¶

DATE	DESCRIPTION	SYMBOL/CUSIP	QUANTITY	RATE ($)	DEBIT AMOUNT	CREDIT AMOUNT
08/17/06	HOSPITALITY PROPERTIES TRUST SBI REC 07/14/06 PAY 08/17/06	HPT	2,000	0.7400		1,480.00
08/25/06	HRPT PROPERTIES TR-SBI SBI REC 07/25/06 PAY 08/25/06	HRP	10,000	0.2100		2,100.00
TOTAL						$3,580.00

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