EFTA00201162

OFFICE SERVICING YOUR ACCOUNT
Bear,Stearns International LTD
Regulated by the Security &
Futures Authority
1 Canada Square
London E14 5AD England
0207 516 6614

| | |

| :--- | :--- |

| 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 4







JEFFREY EPSTEIN

AMERICAN YACHT HARBOR

BOX LSJ RED HOOK QUARTER

ST THOMAS VI 00802



JEFFREY EPSTEIN

STATEMENT PERIOD January 26, 2002

THROUGH February 22, 2002

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

| LAST STATEMENT | January 25, 2002 |

| :--- | :--- |

## Your Portfolio at a Glance

<table border="1"><tr><td>NET CREDIT BALANCE</td><td>10,283,192</td></tr><tr><td>NET EQUITY THIS PERIOD</td><td>$10,283,192</td></tr><tr><td>NET EQUITY LAST STATEMENT</td><td>8,820,256</td></tr><tr><td>CHANGE SINCE LAST STATEMENT</td><td>1,462,935</td></tr></table>

Market Value of Your Portfolio

SIPC

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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JEFFREY EPSTEIN



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STATEMENT BACKER IS PRINTED ON THIS PAGE

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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear,Stearns International LTD
Regulated by the Security &
Futures Authority
1 Canada Square
London E14 5AD England
0207 516 6614

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## Cash Flow Analysis

<table border="1"><tr><td></td><td>THIS PERIOD</td></tr><tr><td>OpeningBalance</td><td>$8,820,256.48</td></tr><tr><td>Dividends/Interest</td><td>12,935.19</td></tr><tr><td>Miscellaneous</td><td>1,450,000.00</td></tr><tr><td>Amount Credited</td><td>$1,462,935.19</td></tr><tr><td>Net Cash Activity</td><td>1,462,935.19</td></tr><tr><td>ClosingBalance</td><td>$10,283,191.67</td></tr></table>

Cash Balance Summary

<table border="1"><tr><td></td><td>OPENING</td><td>CLOSING</td></tr><tr><td>Cash</td><td>8,820,256.48</td><td>10,283,191.67</td></tr><tr><td>Net Cash Balance</td><td>$8,820,256.48</td><td>$10,283,191.67</td></tr></table>

Income Summary

<table border="1"><tr><td></td><th>THIS PERIOD</th><th>YEAR TO DATE</th></tr><tr><td>Credit Balance Int.</td><td>12,935.19</td><td>33,191.67</td></tr><tr><td>Total</td><td>$12,935.19</td><td>$33,191.67</td></tr></table>

Portfolio Composition

<table border="1"><tr><td>Cash/Cash Equivalent</td><td>10,283,192</td></tr><tr><td>Total</td><td>$10,283,192</td></tr></table>

JEFFREY EPSTEIN



02/23/02;13:08 001


EFTA00201165



BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear,Stearns International LTD
Regulated by the Security &
Futures Authority
1 Canada Square
London E14 5AD England
0207 516 6614

4 of 5

## 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>10,283,192</td><td></td><td></td></tr><tr><td>TOTAL CASH &amp; CASH EQUIVALENTS</td><td></td><td></td><td></td><td>$10,283,192</td><td></td><td></td></tr></tbody></table>

JEFFREY EPSTEIN

<table border="1"><tr><td>YOUR PRICED PORTFOLIOHOLDINGS</td><td>$10,283,191</td></tr></table>

STATEMENT PERIOD January 26, 2002

THROUGH February 22, 2002



INTEREST




Transaction Detail


| LAST STATEMENT | January 25, 2002 |
| :--- | :--- |

<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>02/20/02</td><td>INTEREST ON CREDIT BALANCE<br>J EPSTEIN , CASH COLLAT IN 2002-01-22 TO 2002-02-19</td><td></td><td></td><td></td><td></td><td>12,935.19</td></tr><tr><td colspan="7">TOTAL</td><td>$12,935.19</td></tr></tbody></table>

## MISCELLANEOUS

<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 rowspan="2">02/06/02</td><td rowspan="2">JOURNAL</td><td>FROM</td><td></td><td>750,000.00</td></tr><tr><td>PER LOA</td><td></td><td></td></tr><tr><td>02/19/02</td><td>JOURNAL</td><td>FROM</td><td></td><td>330,000.00</td></tr></tbody></table>

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BEAR
STEARNS


OFFICE SERVICING YOUR ACCOUNT
Bear,Stearns International LTD
Regulated by the Security &
Futures Authority
1 Canada Square
London E14 5AD England
0207 516 6614

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## **Transaction Detail** (continued)

MISCELLANEOUS (continued)

<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>02/20/02</td><td>JOURNAL</td><td>FROM</td><td></td><td>370,000.00</td></tr><tr><td colspan="4">TOTAL</td><td>$1,450,000.00</td></tr></tbody></table>





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



JEFFREY EPSTEIN

STATEMENT PERIOD January 26, 2002

THROUGH February 22, 2002

| LAST STATEMENT | January 25, 2002 |
| :--- | :--- |

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