EFTA00195171

Statements EFTA00195171 CLEARED THROWN nS intiCkLY OHnEO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szetrns Seca•akl Conk Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Ore Metrolech Cantor north aro:kW% Hew Yak 11201.3559 STEARNS New York, New York 10179 EPSTEIN INTERESTS STATEMENT PERM December 1.2004 ACCOUNT EXECUTIVE Z:CHERMAN.IRA TELEPHONE THROUGH December 31.2004 VISIT OUR WEBSITE IA1 uearstearrts.com ACCOUNT NUMBER What's In This Statement 111111111111111111111111111111111111111111111111111111111111 TAXPAYER NUMBER On File LAST STATEMENT Noventer 30.2004 Financial Summary 3 EPSTEIN INTERESTS Your Portfolio Holdings 3 DTD 12/26/91 Transaction Detail 4 JEFFERY E EPSTEIN & MARK L ' Fund Activity 4 EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR Your Messages 5 NEW YORK NY 10022.6843 Your Portfolio at a Glance Market Value of Your Portfolio Important Message II any information $829.424 Cash & Equivalent regarding 2004interesl. MONEY MARKET FUND BALANCE 829,424 $828.308 dividends. miscellaneous income, gross proceeds or NET EQUITY THIS PERIOD $829,424 Current market value original issue discount is NN Last statements market value required to be reported to NET EQUITY LAST STATEMENT 828.308 the IRS for this account, a CHANGE SINCE LAST STATEMENT 1.116 Consolidated Form 1099 •TNt ;alai, Herod*. cno of eon tralecO meats Ins so ns will be mailed to you by Maui n t.o Tao Yabo of Soo..alos eta Mo Na Eva Ms Porta January 31.2005or a 1042Sby March 15.2005. There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Roza roost oaf clIforonoo a eastward of dud's or Mocks. calcolod as &Woad to p5u. fl at BMW), a fa mTOTITMbaml papaws any II SN% fended natal damTWO 10 OHM Senior; at 800614.1428: a yet to nom Smokes a Bow. Steam Socumos THS RatanOrS ShOad beManed for your records Soo mom fa fa monad ntainatim Ca,. One 1.10°W+ Coolly Honk BrooNyn. NY. 11201 9858 02? 01,01005:09:18 001 Yes? EFTA00195172 CLEARED 1NROUON ITS vrisekLY O"EO S0BSIDIARY 808r. Saee•ns S0N, 14,1 COO. Ceol.levolech Cantot North Broeklln• New Ye* 11201.3859 EPSTEIN INTERESTS 2 of s STATEMENT BACKER IS PRINTED ON THIS PAGE 027 01,01,05:09:18 001 11867 EFTA00195173 CLEARED THROUGH ITS niCkLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8038T.Steinn SOC,r44,1 Cop. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Ore Momloch CarrIN North Beccioon. New Toot 11201.3859 STEARNS EPSTEIN INTERESTS 3 al L STATEMENT PERK* December 1,2004 THROUGH December 31.2004 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER WESER On File MS DEMO YEAR TO DATE THIS PERICO LAST STATEMENT NOYETMITef 30.2004 Opening Balance Dividends 1.115.84 8.614.72 $0.00 Total $1,115.84 $8,614.72 Money Fund 1.115.84 Amount Credited $1.115.84 Money Fund -1.115.84 Portfolio Composition Amount Debited S.1,115.84 CashCash Equivalent 829.424 ClosingBalance $0.00 Total $829.424 Your Portfolio Holdings CASH & CASH EQUIVALENTS Your Portfolio MARKET ESTIMATED CURRENT Allocation SUMMON SYMBOLUSIP QUANTITY PRICE VALUE Awktwk MOUE YEW Ic=1 DREYFUS CASH MANAGEMENT-CL A DICXX 829,424.02 1.0000 829,424 14.100 1.7000 INSTITUTIONAL SHARES EST, 30 DAY AVG YrELD 2.0100;, TOTAL CASH & CASH EQUIVALENTS $829.424 $14,100 Cash & EquivaleM- I OD% UmPooed rotor's aenoTe oat lxio, ce *NW !el male vela, The element. ;event'', 6, oa•eea Iron Ve obsolAs market rat), 01 )vv palloo 027 01.01,05,09:18 001 2867 EFTA00195174 CLEARED THROUGH ITS ?mem.? OMT,E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BOP. Saea•ns SON, htl COO. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York, Nen York 10179 Ore Momloch Cerra North Beccidon. New Year 11201.3859 STEARNS EPSTEIN INTERESTS 4 vi STATEMENT PERIOD December 1,2004 THROUGH December 31.2004 Your Portfolio Holdings (continued) ACCCUNT NUMBER EQUITIES TAXPAYER WESER Ofl File LAST STATEMENT November 30.2004 Equities & Options Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Steams 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. ACCT WAKE! ESTIMATED CURRENT DESORPTION VAIBOLTUSIP PRE OLIANITTY PRCE VALLE ANNUAL INCOME YEW I%) BANPAIS SA-SPONSOREDADR BPIBY CASH 20,000 Unpriced REPSTG 6 SER L SHS Total Equities& Options $0 $0 TOTAL EQUITIES $0 $0 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $14,100 YOUR PRICEDPORTFOLIOHOLDINGS $829,424 Transaction Detail MONEY FUND ACTIVITY DATE AKMAY TRANSACTION DESCRIPTI3N SYMEIX/CDSIP awry PPZE can AMOUNT CREDIT AMOUNT 12/01/04 OPENINGBALANCE 828.308.18 12/01/04 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DIOC( 1,115.84 INSTITUTIONAL SHARES MONTHLY DIVIDEND 027 DIVIDS:09:18 001 "867 EFTA00195175 CLEARED THROUGH ITS 98935C, OnnE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beet. Neon Seonmi COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 CcoMetsciech Cann North aro:kW% New Ye* 11201.3859 STEARNS EPSTEIN INTERESTS 5 vi STATEMENT PERIOD December 1,2004 THROUGH December 31.2004 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER MAKER On File MONEY FUND ACTIVITY (continued) LAST STATEMENT NOYE9111831 30. 2004 DATE MGVAY TRANSACTO8 DESCRIPTCN SYMEWCICIP OUN.IMY PRCE DEBIT Amen CREDIT AMOUNT 12/01/04 REINVEST DREYFUS CASH MANAGEMENT-Cl. A DCCC 1,115.84 1,115.84 INSTITUTIONAL SHARES DIVIDEND REINVEST 12/31/04 CLOSINGBALANCE 829,424.02 TOTAL $.1.115.84 51.115.84 Your messages 125' Education As part of the National Association of Securities Dealer's (NASD) Investor Program, you may obtain information on the NASD's Public Disclosure Program by contacting the NASD at telephone number (800) 289.9999 or via the internet address which is vnvw.nasdr.com, In addition, a brochure explaining the Public Disclosure Program is available from the NASD upon request, End of Statement 027 01101,05:09:18 001 Y867 EFTA00195176 CLEARED THROUGH ITS witekLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Sten. Seopiter Core Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York Nen York 10179 Coe 0.1ctsoloch Gorda North Beak/on. New VC* 11201.3859 STEARNS EPSTEIN INTERESTS STATEMENT PERIDO October 30.2004 ACCOUNT EXECUTIVE LICHERMAN.IRA TELEPHONE THROUGH November 30.2004 VISIT OUR WEBSITE 09A11. uearstearns.com ACCOUNT NUMBER What's In This Statement 1111111111 111111111111111111111111111111111111111111111111.1 TAXPAYER NUMBER On File LAST STATEMENT October 29.2004 Financial Summary 3 EPSTEIN INTERESTS Your Portfolio Holdings 3 DTD 12/26/91 Transaction Detail 4 JEFFERY E EPSTEIN & MARK L ' Fund Activity 4 EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022.6843 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equrnalent - 5828.308 MONEY MARKET FUND BALANCE 828,308 L.. $827,146 NET EQUITY THIS PERIOD $828,308 MI Current market value DA Last statements market value NET EQUITY LAST STATEMENT 827,146 CHANGE SINCE LAST STATEMENT 1,162 'This weal* odudin we or more crowd seounlos thar ro not Mame in re Taal Yabo el SOOJMOS Ord mo N1. Equcy This Pored There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. F1050 report any Mama a reeroctist of Cods or MOCKS. nelicolod as clatrogoa to pau. This TLYNT9N11 Va nfOrnletenel paTcsis only els rce "leaded as a lam (roamers lo Gent Somme at 800611.1128: a wax to Clam SONICOS a Bow. Steam &cum*. Ca,. One Lleholoch Coolly Honk Brooer., NY 112014059. Sit Tin statoonere should be manta for your records So roma ode for naive rirmnaton 027 12.01.04:14:42 001 7865A EFTA00195177 CLEARED 1HROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns SBN•Ilkl COO. Ceol.letioloch Cantot North Broeklln• New Ye* 11201.3859 EPSTEIN INTERESTS 2 of s STATEMENT BACKER IS PRINTED ON THIS PAGE 027 120MM:14:42 001 Y865A EFTA00195178 CLEARED THRWGH ITS 1tuE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer.SZeirns S0N, Utl Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Nee York 10179 Ore Momloch Contof North Brock//n. New Tuft t201.3SS9 STEARNS EPSTEIN INTERESTS 3 al L STATEMENT PERK* October 30.2004 THROUGH November 30.2004 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER MAISER OR PIM THIS PERO° MS PERICO YEAR TO DATE LAST STATEMENT October 29.2004 OpeningBalance Dividends 1.161.83 7,498.88 $0.00 Money Fund 829.398.07 Total $1,161.83 $7.498.88 Amount Credited $829.398.07 Money Fund -829.398.07 Portfolio Composition Amount Debited $-829.398.07 CashCash Equivalent 828308 Closing Balance $0.00 Total $828.308 Your Portfolio Holdings CASH & CASH EQUIVALENTS Your Portfolio MARKET ESTIMATED CURRENT Allocation MORMON SYMBOL/WSW OurNITT; NICE VALUE NNW/ INCOME VEtO II, DREYFUS CASH MANAGEMENT CL A DICXX 828308.18 1.0000 828,308 13.253 1.6000 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 1.8400% TOTAL CASH & CASH EQUIVALENTS $828.308 $13,253 Cash & Equivalent- 100% UmPocied rotor's cienow oat alone, *NW Or, male vela, The eloml✓r ;event'', ty dewed from to 00101.te market rat), al >vv palkno 027 1201434:14:C 001 18654 EFTA00195179 CLEARED THROUGH ITS wilekLY 0\MnEO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZetrns SON, 14,1 Cory. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Cc* Meesetech Center North Beccidon. New Ye* 11201 3959 STEARNS EPSTEIN INTERESTS 4 cis STATEMENT PER100 October 30.2004 THROUGH November 90.2004 Your Portfolio Holdings (continued) ACCCUNT NUMBER EQUITIES TAXPAYER MAURER OR PIM LAST STATEMENT October 29.2004 Equities & Options Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Steams 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. ACCT MARKET ESTRUM) CURFEW DESORPTION sYmeaforsip TY£ OUATERTY PRCE VALLE ANMJAL INCOME YEW lYti BANPAIS SA-SPONSOREDADR BPIBY CASH 20,000 Unpriced REPSTG 6 SER L SHS Total Equities& Options SO SO TOTAL EQUITIES SO SO YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $13.253 YOUR PRICEDPORTFOLIOHOLDINGS $828.308 Transaction Detail MONEY FUND ACTIVITY DATE MCVDAT TRANSACTION DESCRIPTION SYMECIAWIP ouivinn, PRICE CENT AMOUNT CREDIT AMOUNT 10/30/04 OPENINGBALANCE 827.146.35 11/01/04 DIVIDEND BEAR STEARNS PRIME MONEY FUND SSW% 1.089.89 MONTHLY DIVIDEND 11/01/04 REINVEST BEAR STEARNS PRIME MONEY FUND BMOC 1.089.89 1,089.89 DIVIDEND REINVEST 027 1201D4:14:42 001 ?BOA EFTA00195180 CLEARED THRWGH ITS witekLY (A1h.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Saea•ns SOC.,44.1 GOO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Cc* Mevolech Cantec North BredCon. Nev. VC* I I2DI.38S9 STEARNS EPSTEIN INTERESTS 5 v, STATEMENT PER100 OCTOOSI 30.2004 THROUGH November 30.2004 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER MAWR On PIM MONEY FUND ACTIVITY (continued) LAST STATEMENT October 29.2004 DATE MGVAY TRANSACTION DESCRIPTON SYMEWCWIP WANTRY PRICE DONT AMOUNT CREDIT AMOUNT 11/03/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 828,236.24 1.0000 828,236.24 INSTITUTIONAL SHARES 11/03/04 SOLD BEAR STEARNS PRIME MONEY FUND BSMXX -828.236.24 1.0000 828,236.24 11/03/04 DIVIDEND BEAR STEARNS PRIME MONEY FUND BSMXX 71.94 RESIDUAL DNIOEND 11/04/04 BOUGHT DREYFUS CASH MANAGEMENT-Cl. A DICK% 71.94 1.0000 71.94 INSTITUTIONAL SHARES 11/30/04 CLOSINGBALANCE 828,308.18 TOTAL $-829.398.07 $829.398.07 End of Statement 027 12/01/04;14:42 001 VONA EFTA00195181 CLEARED THROUGH ITS YiliCtLY OMNE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. &roans SOOritier Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Cc* Metrolech Comet North &Worn. New roes 11201.3859 STEARNS EPSTEIN INTERESTS STATEMENT PERK* °Veber 1.2004 ACCOUNT EXECUTIVE ZICHERMAKIRA TELEPHONE THROUGH October 29.2004 VISIT OUR VIESSITE on.uearstearns.com ACCOUNT NUMBER What's In This Statement lllll 111111111111111111.11.1.1111111111111111111 TAXPAYER N111301 Cn File LAST STATEMENT September 30.2004 Financial Summary 3 EPSTEIN INTERESTS Your Portfolio Holdings 4 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN & MARK L ' Fund Activity 5 EPSTEIN & WILLIAM ELKUS TREES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equivalent 5827.146 MONEY MARKET FUND BALANCE 827,146 $826,201 NET EQUITY THIS PERIOD $827,146 1111 Current market value §gill Last statements market value NET EQUITY LAST STATEMENT 826,201 CHANGE SINCE LAST STATEMENT 945 'TNt maw* mdudas aV at more canoed seounlas That wo in rotator] Mt* Taal Mao of SacraMs ird me Na Ectuty This Panel There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. F1050 copal ant Mama a rontactiot el chocks or stocks. calcalal as daltrotal to pou. lo Gent &onion al 800614.1428: a yet to Cleat SONIC.. a Bow. Steam &conies Cap.. One IA/Poles+ Cooler North. 8rootlyy NY 112014859 Sit TS6 anT,HY for demob:nal prawns Orey It IS reffended as doomed The statonn should be retailed for your records See wend a for voodoos nfoinatite 027 10,30,00:11:50 001 Y864 EFTA00195182 CLEARED 1NROUON NS vriseklY O"EO S0BSIDIARY 808r. Saee•ns S0N, t4,1 COO. Ore lActsolech Cantot North Brocklln• New VC* 11201.3859 EPSTEIN INTERESTS 2 of s STATEMENT BACKER IS PRINTED ON THIS PAGE 027 10,3004:11:50 001 V8E4 EFTA00195183 CLEARED THROUGH ITS ?RIMY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bet. Stern' S0CoMMI Cord Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Oct Mem:tech Cerra North Brockton. New Vote 11201.3859 STEARNS EPSTEIN INTERESTS 3 cis STATEMENT PERIOD Octoter 1.2004 THROUGH Dater 29.2004 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER AVUMER OR PIM DC PERIM YEAR TO DATE THIS PERICO LAST STATEMENT Seplefiltet 30.2004 Dividends 945.71 6,337.05 CpeningBalance $3.458.06 Total $945.71 $6.337.05 Money Fund 945.71 Amount Credited $945.71 Money Fund -4.403.77 Portfolio Composition Amount Debited $.4.403.77 CashlCash Equivalent 827.146 Net Cash Activity -3.458.06 Total $827,146 Closing Balance $0.00 Cash Balance Summary Your Portfolio OPEN rid CLOSING Allocation Cash 3.458.06 0.00 Net Cash Balance $3,458.06 $0.00 Cash & Equivalenl- 100% theme." 'room ciente Celt Dion", tole toe me•le valve Tho eloml✓r ;event'', 6, 4e•ue4 Iron to 'butte motet rat), or toy palleM 027 10,3004:11:50 001 Y864 EFTA00195184 CLEARED THROUGH ITS OMT‘.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Saea•ns SON, 14,1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Non York 10179 Ore Mem:leen Centec North Beoclo1n. New Year 11201 3959 STEARNS EPSTEIN INTERESTS 4 vi STATEMENT PERIOD Octoter 1.2004 THROUGH Octoter 29.2004 Your Portfolio Holdings ACCOUNT NUMBER CASH & CASH EQUIVALENTS TAXPAYER AMBER OR FOE LAST STATEMENT SECteRION 30.2004 MARKET ESTIMATED CURRENT DESORPTION SYMOCIJOJSIP QUANTITY PRICE VALUE *NUN. NOM YIELD MI BEAR STEARNS PRIME MONEY FUND BSMXX 827,146.35 1.0000 827.146 12,986 1.5700 DIVIDEND REINVESTED EST, 30 DAY AVG YIELD % TOTAL CASH & CASH EQUIVALENTS $827,146 $12,986 EQUITIES Equities & Options 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 theme ACC! MARKET ESTIMATED CURRENT DESORPTION SYMBOLEUSIP TYPE wanly PRIME VALUE MURAL NCOIAE YEW I%) BANPAIS SA-SPONSOREDADR BPIBY CASH 20,000 Unwired REPSTG 6 SER L SHS Total Equities& Options SO $0 TOTAL EQUITIES So $o YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $12.986 YOUR PRICED PORTFOLIOHOLDINGS $827.146 027 10,3004:1I:SO 001 V864 EFTA00195185 CLEARED THROUGH ITS niCkLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC.,444 Corp. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 O-4 Mem:tech Cantm North Beccidon. Nev. Ye* 11201.3869 STEARNS EPSTEIN INTERESTS 5 STATEMENT PERIOD October 1.2004 THROUGH Octoter 29.2004 Transaction Detail ACCOUNT NUMBER TAXPAYER AMBER On Fite MONEY FUND ACTIVITY LAST STATEMENT September 3O.2OO4 DATE wpm M4,1;141O1 DESCRIPTION SYMEWCUSIP DUMMY PRICE DEBIT AMOUNT CREDIT AMOUNT 10/01/04 OPENINGBALANCE 822,742.58 10/01/04 DIVIDEND BEAR STEARNS PRIME MONEY FUND BSMXX 945.71 MONTHLY DIVIDEND 10/01/04 REINVEST BEAR STEARNS PRIME MONEY FUND BSMXX 945.71 945.71 DIVIDEND REINVEST 10/21/04 BOUGHT BEAR STEARNS PRIME MONEY FUND f3SMXII 3.458.06 1.0000 3.458.06 10/29/04 CLOSINGBALANCE 827,146.35 TOTAL $4.403.77 $945.71 End of Statement 027 10/30(04;11:60 001 Y664 EFTA00195186 CLEARED THROUGH ITS WHOLLY 01VNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear. SOMAS SOMAISCH CND. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York Nee York 10179 Ono Mottotech Conte North Brocktin. New Year 1120/3859 STEARNS EPSTEIN INTERESTS STATEMENT PERK* Septeater 1.2004 ACCOUNT EXECUTIVE ZICHERMAN.IRA TELEPHONE THROUGH Septeacer 30.2004 VISIT OUR WEBSITE 61AV uearstearns.com ACCOUNT NUMBER What's In This Statement lllll IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII111111111 TAXPAYER NUMBER On File LAST STATEMENT August 31.2004 Financial Summary 3 EPSTEIN INTERESTS Your Portfolio Holdings 4 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN & MARK L Fund Activity 5 EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR Your Messages 6 NEW YORK NY 10022-6843 Your Portfolio at a Glance Market Value of Your Portfolio Cash & EqSvalent — 5826.201 NET CREDIT BALANCE 3.458 $825.326 MONEY MARKET FUND BALANCE 822.743 Current market vabe Ed Last statement's market value NET EQUITY THIS PERIOD $826,201 NET EQUITY LAST STATEMENT 825.326 CHANGE SINCE LAST STATEMENT 875 •TMs portfolio ncludits ono of man unwed secure/is rat No at related nee Total Woe of SeRabos and the Hat Ewe/ nn Percct There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Plo.mct noon oaf cliToronoo a corwocoiN of torn or stocks. aoudad as derrogoa to p5u. to Clem &onion of 800611-1128: a yet to Clem Somon a Boot. Room &comes Dap.. Caw lAteotoch Coolly North. BrooIlri, NY 112014859 gir Tms uneven/ a la nrsonsbenst passes The caly. a Is net Wended as a tat doaanort Statemere ahead be Maned la' yew records Set reverse sofa for receive itzlenwelln 027 1001.04:07:49 001 WIE3 EFTA00195187 CLEARED 'THROUGH ns OW,;(0 SUBSIOIARY 808r. Saee•ns Secoalkl COO. Otto lActsolech Cantot North Broeklln• New Tuft 11201.3859 EPSTEIN INTERESTS 2 or 7 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 10,01GO:07:49 001 V863 EFTA00195188 CLEARED THRWGH ITS ?RIMY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Screams Secipititi Cap. Bear. Stearns 8 Co. Inc. BUR 383 Madison Avenue New YY New York 10179 0 -4 Mon:tech Contm North Becci0p. New To* 11201.3859 STEARNS EPSTEIN INTERESTS 3 STATEMENT PERIOD September 1,2004 THROUGH September 30.2004 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER AILMA3ER Co File TASPERICO YEAR TO DATE THIS PERICO LAST STATEMENT August 31.2004 OpeningBalance $3.458.06 Dividends 874.51 5,391.34 Money Fund 874.51 Total $874.51 $5.391.34 Amount Credited $874.51 Money Fund -874.51 Portfolio Composition Amount Debited $-874.51 CaslvCash Equivalent 826,201 ClosingBalance $3,458.06 Total $826,201 Cash Balance Summary OPENING cuaswo Your Portfolio Cash 3,458.06 3,458.06 Allocation Net Cash Balance $3,458.06 $3,458.06 Cash A. Equivaier4- 100% ItMtvitt0 'room ciente oar "nonce *nee toe male vela, nto eloveran ;event'', tepee." Iron Vo eblet.te motel rat), al pane", 027 100104:07:49 001 Y863 EFTA00195189 CLEARED THROUGH ITS 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Saea•ns SON, 14,1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YOrk Non York 10179 Cc* Mem:tech CarrIN North BecciOon. New Year I1201.38S9 STEARNS EPSTEIN INTERESTS 4 vi STATEMENT PEco00 September 1.2004 THROUGH September 30.2004 Your Portfolio Holdings =coin NUMBER CASH & CASH EQUIVALENTS TAXPAYER AILIMER Co File LAST STATEMENT AuguS1 31.2004 IMPIXE1 ESTIMATED CURRIM DESCRPSON SIMBOLCUSIP OUM471TT PRICE vkUE ?MUM. WOW YELO r4 CASH BALANCE 3,458 BEAR STEARNS PRIME MONEY FUND BSPATC( 822,742.58 1.0000 822.743 12,094 1.4700 DIVIDEND REINVESTED EST, 30 DAY AVG VELD % TOTAL CASH & CASH EQUIVALENTS $826.201 $12.094 EQUITIES Equities & Options 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 vAvvr.bearstearns.com or can call (800) 517-2327 to request that a copy of this research be sent to them. ACC! MARKET ESTS141E0 CURFENT DESCRPSON SAISCPWSIP PPE imam PRCE VALIR ANNAN. INCOIAE YEW I BANPAIS SA-SPONSOREDADR BPIBY CASH 20,000 Unwired REPSTG 6 SER L SHS Total Equities& Options $0 $0 TOTAL EQUITIES $0 $0 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $12.094 YOUR PRICED PORTFOLIOHOLDINGS $826.201 027 100104:07:49 001 V863 EFTA00195190 CLEARED THRWGH ITS niCkLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beet Steirns SON, I*1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 OtoMetselech Cella North Beccidon. New Ye* 11201.3859 STEARNS EPSTEIN INTERESTS 5 vi STATEMENT PERIOD September 1,2004 THROUGH September 30.2004 Transaction Detail ACCOUNT NUMBER TAXPAYER AMBER On file MONEY FUND ACTIVITY LAST STATEMENT August 31.2004 DATE MODAT TRANSACTCN CESOIIPMN S)MBCLCUSiP OVANTITY PIKE DEBIT AMOUNT CREDIT MADUNT 09/01/04 OPENINGBALANCE 821.868.07 09/01/04 DIVIDEND BEAR STEARNS PRIME MONEY FUND BSMXX 874.51 MONTHLY DIVIDEND 09/01/04 REINVEST BEAR STEARNS PRIME MONEY FUND BSMXX 874.51 874.51 DIVIDEND REINVEST 09/30/04 CLOSINGBALANCE 822.742.58 TOTAL $.874.51 $874.51 027 100104:07:49 001 V863 EFTA00195191 CLEARED THROUGH ITS WHOLLY 01W ED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear. SIWAS SOCuitit. Ger9. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York, Nee York 10179 Om Llettotech Corder HORN Eleccit/on, Nee; Tett 1120/3859 STEARNS EPSTEIN INTERESTS 6 ci STATEMENT PERK* Septeacer 1.2004 THROUGH Septerrter 30.2004 ACCOUNT NUMBER TAXPAYER NUMBER On File Your messages LAST STATEMENT August 31.2004 Bear. Stearns Securities Corp, Net Capital and Net Capital Requirements: Securities and other assets in your account are the firm's collateral for any Bar margin loan made to you. If the securities and other assets in your account At May 31, 2004 and July 31. 2004. the Company's net capital of decline in value, so does the value of the collateral supporting your loan, and, approximately $3,6 billion and $3,6 billion was approximately 6,8% and 6,5% as a result, the firm can take action, such as issue a margin call and/or sell of aggregate debit items and exceeded the minimum regulatory net capital securities or other assets in any of your accounts held with the member, in requirement of approximately $1.1 billion and $1,1 billion by approximately order to maintain the required equity in the account. it is important that you $2,5 billion and $2,5 billion, all respectively, fully understand the risks involved in trading securities on margin, These risks include the following: A complete copy of the Bear. Stearns Securities Corp, Statement of Financial Condition is available on the web site mvw,bearstearns,com, Alternatively, to ' You can lose more funds than you deposit in the margin account, request a free printed copy please call - toll free 1-866.299-9331, ▪ The firm can force the sale of securities or other assets in your account(s), ' The firm can sell your securities or other assets without contacting you. ' You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold to meet a margin call. ' The firm can increase its 'house" maintenance margin requirements at any time and is not required to provide you advance written notice. ' You are not entitled to an extension of time on a margin call, 027 1001.04:07:49 001 V863 EFTA00195192 CLEARED THROUGH ITS ViHeil? 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, t4,1 Sap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mon:tech Cantm North Beccidon. New Tuft 11201.3859 STEARNS EPSTEIN INTERESTS 7 STATEMENT PERIOD September 1,2004 THROUGH September 30.2004 ACCCUNT NUMBER TAXPAYER WESER On Flk LAST STATEMENT August 31.2004 This statement is provided to explain Bear, Stearns & Co. Inc.'s ("BSC) Bar payment for order flow practices. Ear Pursuant to SEC Rule 11Ac1.6, please note the following: BSC routes a majority of orders for customer securities transactions to the Bear, Steams & Co. Inc. will post its quarterly routing statistics at the following primary market for such securities. Orders may also be routed to other market web link: http://www.bearsteams.com. Click on Individual Investor, Click on service vendors that assure executions pursuant to complex mathematical Equities, Click on Order Routing Practices. formulas at better than the national best bid or best offer (NBB0), BSC receives no cash payment or other consideration for such order routing other Customers of Bear, Steams & Co. Inc. may request information on any order than favorable executions or executions of limit orders at no additional charge. executed within the prior six months from the time of the request. Specifically, you may request the identity of the venue to which the identified orders were routed for execution, whether the order was directed by you to that venue, and the time of the executions, if any, that resulted from such orders. End of Statement 027 10101/04:07:49 001 14103 EFTA00195193 CLEARED THROUGH ITS WHOU.Y 01W.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bar. Steams SOCuitit. Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 core tlevotech Cooler North Becck/on, He* Yak 11201.3859 STEARNS EPSTEIN INTERESTS STATEHENT PERIOD July 31.2004 ACCOUNT EXECUTIVE ZI3HEHMAN.IRA TELEPECCE THROUGH August 31.2004 VISIT OUR WEBSITE 61AV uea'stearns.com ACCOUNT NUMBER What's In This Statement Illlllllllllllllllllllllllllllllllllllllllllllllllllllllllll TAXPAYER kvlieER On File LAST STATEMENT Jul, 3o.2004 Financial Summary 3 EPSTEIN INTERESTS Your Portfolio Holdings 4 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN & MARK L Fund Activity 5 EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equvalent — 4825.326 NET CREDIT BALANCE 3.458 $824.964 MONEY MARKET FUND BALANCE 821.868 Current market vane NET EQUITY THIS PERIOD $825.326 mg Last statement's market value NET EQUITY LAST STATEMENT 824.564 CHANGE SINCE LAST STATEMENT 762 'MS peaft110 fieludeS ao or mote uroescod maims rat ate na relected rte TMal Yea of Smaller. and the Nee EgoCy n.n.Pcmxt There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. FIOMO tegiil any diforocoo a ronroceig of dads or stocks. melicotod as doltromamp:o. Ab• tin wrmaq a for egsambensl nooses ally It Is not fl ooded as a tat donned to Clem Sworn of 800134-1128: or ymto to Clam SONIC.* al Boos. Steam &comes 11n cutworm Oen be Maned for your records Soo worse son Sr modem rdormann Cap.. Co. lActokKli Coolly North. BrooNri, NY It2osest. 027 M01,0448:31 001 Y862 EFTA00195194 CLEARED IHROUGH ITS vriseklY 0"E0 S0BSIDIARY 808r. Saee•ns SON, t4,1 COO. Ore lActsolech Cantot North Broeklln• New Ye* 11201.0859 EPSTEIN INTERESTS 2 of s STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0901,0405:31 001 •7862 EFTA00195195 CLEARED THRWGH ITS 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Screams Secipititi Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 1O179 OtoMetsetech Centm North Beccidon. New Ye* 11201.3859 STEARNS EPSTEIN INTERESTS 3 STATEMENT PERK* JO/ 31. 2004 THROUGH August 31.2004 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER WESER On File DAS PERIOD YEAR TO DATE THIS PERICO LAST STATEMENT Jul/ 30. 2004 OpeningBalance $3,458.06 Dividends 762.37 4.516.83 Money Fund 762.37 Total $762.37 $4,516.83 Amount Credited $762.37 Money Fund -762.37 Portfolio Composition Amount Debited $-762.37 CaslvCash Equivalent 825,326 aosing8alance $3,458.06 Total $825,326 Cash Balance Summary OPENING cumwo Your Portfolio Cash 3,458.06 3,458.06 Allocation Net Cash Balance $3,458.O6 $3,458.06 Cash & Equivaient- 10O% Untletled prove ciente. oar "nonce onto "el mete vela, he element. ;event'', tepee." Item Vo etnol.te market rat), pi Kv Mlboo 027 09,01,04:08:31 001 V862 EFTA00195196 CLEARED THROUGH ITS niCkLY OtM•E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Saee•ns SON, 14,1 GDP Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Non York 10179 Ore Mevolech Cerra North BecciOon. New VC* 112013959 STEARNS EPSTEIN INTERESTS 4 vi STATEMENT PERK* Jule 31. 2004 THROUGH Rogue* 31.2004 Your Portfolio Holdings ACCCUNT NUMBER CASH & CASH EQUIVALENTS TAXPAYER WIPER On Rile LAST STATEMENT Jule 30. 2004 MARKET ESTIMATED CURRIM DESORPTION SIMBOLCUSIP OUM471TT PRICE VALUE MNUIL INCOME YELO r4 CASH BALANCE 3.458 BEAR STEARNS PRIME MONEY FUND BSIt0C( 821,868.07 1.0000 821.868 10,684 1.3000 DIVIDEND REINVESTED EST, 30 DAY AVG YIELD 1.3400%• TOTAL CASH & CASH EQUIVALENTS $825.326 $10,684 EQUITIES Equities & Options 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 vnww•bearstearns.com or can call (800) 517-2327 to request that a copy of this research be sent to them. ACC! MARKET ESTRUM CURFENr MORMON SYMECIAVSIP PPE wanly PRCE VALUE ANNAN. INCOME YEW R BANPAIS SA-SPONSOREDADR BPIBY CASH 20,000 Unwired REPSTG 6 SER L SHS Total Equities& Options $0 $0 TOTAL EQUITIES $0 $0 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $10.684 YOUR PRICED PORTFOLIOHOLDINGS $825.326 027 09,01,04:06:21 001 •7862 EFTA00195197 CLEARED TNR0OOH ITS ?RICO.? 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beet Saea•ns S0N, t4,1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York• New York 10179 Ore Mevolech Cella North Beccidon. New Tuk 11201.3859 STEARNS EPSTEIN INTERESTS 5 vi STATEMENT PERIOD Jug 31.2004 THROUGH August 31.2004 Transaction Detail ACCOUNT NUMBER TAXPAYER MAWR On File MONEY FUND ACTIVITY LAST STATEMENT Jul/ 30.2004 DATE MODAT TRA, JEACTON DESOTIPTCN SYMBOUCVSIP ovAmire PATE DEBIT AMOUNT CREDIT MADUNT 07/31/04 OPENINGBALANCE 821.105.70 08/02/04 DIVIDEND BEAR STEARNS PRIME MONEY FUND BSMXX 762.37 MONTHLY DIVIDEND 08/02/04 REINVEST BEAR STEARNS PRIME MONEY FUND BSMXX 762.37 762.37 DIVIDEND REINVEST 06/31/04 CLOSINGBALANCE 821,868.07 TOTAL $762.37 $762.37 End of Statement 027 0901iO4:0831 001 W162 EFTA00195198 CLEARED THROUGH ns WHOLLY 01MMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BON. ROOMS SOOwillt1 CND Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Coo lieVotech Conte Noah Brock/in. New Yea 1120/3859 STEARNS EPSTEIN INTERESTS STATEHENT PERIOD Jut/ 1.2004 ACCOUNT EXECUTIVE ZI3HEHMAN.IRA TELEPHONE THROUGH Jut/ 30.2004 VISIT OUR WEBSITE 67AV ue ea r rs coni ACCOLM NUMBER What's In This Statement elllull.11Illlllllllllllllllllllllllllllllllllllllllllllllll TAXPAYER NUMBER On Fee LAST STATEMENT June 30.2004 Financial Summary 3 EPSTEIN INTERESTS Your Portfolio Holdings 4 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN & MARK L ' Fund Activity 5 EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equvalent 4824.584 NET CREDIT BALANCE 3.458 $823.942 MONEY MARKET FUND BALANCE 821.106 ME Current market vabe Ed Last statement's market value NET EQUITY THIS PERIOD $824,564 NET EQUITY LAST STATEMENT 823.942 CHANGE SINCE LAST STATEMENT 622 •TNs portfolio melodies ao of moo uraileod mortars not No not relented mix TON Woe of Semobes and Om Not Ewe/ TMs Pim' There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Roza coon oror ditoronoo a rooroctire of Necks or stocks. milleolod as doltrogoti to you. TNNBL*YRWYNloi nereannsl peposn only els not Idanded BOSCH doctwert to Mal Sonion of 800614-1128: a veto to ChM Santos ar Boot Steam Secuttles Tun stromori NNW IN Waned for your row&o. $ot morn So for repplart rdormarpo Corp.. One lAeOmMel, Cooler North. BrooNyn. NY. II20, 4050 027 C07,31.00:08:01 001 vase EFTA00195199 CLEARED 1NROUON RS vrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, t4,1 COO. Ceol.letsolech Cantot North Brocklln• New VC* 11201.3859 EPSTEIN INTERESTS 2 of s STATEMENT BACKER IS PRINTED ON THIS PAGE 027 07310JO8:01 001 V858 EFTA00195200 CLEARED THRWGH ITS niCkLY CAM‘.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Screams Secipititi Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 0-4 Mem:leen Conte NOM eettidon. New Year 11201.3859 STEARNS EPSTEIN INTERESTS 3 STATEMENT PERK* Jul/ 1.2004 THROUGH At/ 3D. 2004 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER WESER OR File 114S PERIOD YEAR TO DATE THIS PERIOD LAST STATEMENT June 30.2004 Dividends 621.75 3,754.46 OpeningBalance $3,458.06 Money Fund 621.75 Total $621.75 $3.754.46 Amount Credited $621.75 Money Fund -621.75 Portfolio Composition Amount Debited S-621.75 Cashltash Equivalent 824,564 OlosingBalance $3,458.06 Total $824,564 Cash Balance Summary OPENING cumwo Your Portfolio Cash 3,458.06 3,458.06 Allocation Net Cash Balance $3,458.06 $3,458.06 Cash J. Equivaient- 100% 11, 04000 romans eon,,, oar Diono, onto Or, male wive, To olooar ;event'', ty awed from to Mal.te market rat), pi )VV POrtkal. 027 07.31.04:06:41 001 Y858 EFTA00195201 CLEARED THROUGH ITS 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Saea•ns S0N, 14,1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Cc* Mevolech CarrIN North Becci0on. New VC* I1201.3859 STEARNS EPSTEIN INTERESTS 4 vi STATEmENT PERK* July 1.2004 THROUGH July 30.2004 Your Portfolio Holdings ACCCUNT NUMBER CASH & CASH EQUIVALENTS TAXPAYER WESER On File LAST STATEMENT June 30.2004 MARKET ESTIMATED DURRIM DESCRP1100 SIMBOLEUSIP OUM471TT PRICE VALUE MNUIL INCOME TELE/r4 CASH BALANCE 3.458 BEAR STEARNS PRIME MONEY FUND BSIAU 821,105.70 1.0000 821,106 9,032 1.1000 DIVIDEND REINVESTED EST. 30 DAY AVG YEW 1.1300‘,, TOTAL CASH & CASH EQUIVALENTS $824.564 $9,032 EQUITIES Equities & Options 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 vnvw.bearstearns.com or can call (800) 517-2327 to request that a copy of this research be sent to them. ACC! WRNS ESTSWIE0 CURFENT DESCRPTON SYM6C4AUSIP Mt imam PRCE VALIR ARKIN. INCOME YEW 1 BANPAIS SA-SPONSOREDADR BPIBY CASH 20,000 Unprioed REPSTG 6 SER L SHS Total Equities& Options $0 $0 TOTAL EQUITIES $0 $0 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $9.032 YOUR PRICED PORTFOLIOHOLDINGS $824.564 027 07,31D4:08:01 001 V858 EFTA00195202 CLEARED THRWGH ITS niCkLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 808f. Saee•ns SOC,r44,1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 0 -41km:tech Cella North 0eock11n. New VC* I I2DI.3859 STEARNS EPSTEIN INTERESTS 5 vi STATEMENT PERK* Jul/ 1.2004 THROUGH Julj 30. 2004 Transaction Detail ACCOUNT NUMBER TAXPAYER AMBER On File MONEY FUND ACTIVITY LAST STATEMENT June 30.2004 DATE MODAY TRMJEACTON DESOTIPTC.N SYMBOUCVSIP ovAmire PATE DEBIT AMOUNT CREDIT AMOUNT 07/01/04 OPENINGBALANCE 820,483.95 07/01/04 DIVIDEND BEAR STEARNS PRIME MONEY FUND BSMXX 621.75 MONTHLY DIVIDEND 07/01/04 REINVEST BEAR STEARNS PRIME MONEY FUND BSMXX 621.75 621.75 DIVIDEND REINVEST 07/30/04 CLOSINGBALANCE 821.105.70 TOTAL $621.75 $621.75 End of Statement 027 07.31.04:08:4I 00T Y858 EFTA00195203 CLEARED THROUGH ITS WHOU.Y 01WED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BM. ROAMS SOOwilitt GOO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York, Nee York 10179 Cam Meaotech Cooler Noah 8tCCidel. Hen INN 11201 3859 STEARNS EPSTEIN INTERESTS ACCOUNT EXECUTIVE ZICHERMAN.IRA STATEMENT PERIOD May 29.2004 TELEPHONE THROUGH June 30.2004 VISIT OUR WEBSITE 61A1 bear st earns.com ACCOUNT NUMBER What's In This Statement Illlllllllll lllll 11 lllllllllllllllllllllllllllllllllllllllll TAXPAYER WINER On File UST STATEMENT May 28.2004 Financial Summary 3 EPSTEIN INTERESTS Your Portfolio Holdings 4 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN & MARK L Fund Activity 5 EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR Your Messages 6 NEW YORK NY 10022-6843 Your Portfolio at a Glance Market Value of Your Portfolio Important Message Confirmation: Unless we Cash & Eq.vaIent H 5823.942 NET CREDIT BALANCE 3.458 hear from you to the $823,316 contrary. it is our MONEY MARKET HAND BALANCE 820.484 understanding that any free NI Current market value credit balances in your Egi Last statement's market value account are being NET EQUITY THIS PERIOD $823,942 maintained to facilitate your intention to invest NET EQUITY LAST STATEMENT 823.316 such amounts through us. CHANGE SINCE LAST STATEMENT 626 •nos IDOCIMIO Mcludies ao or mom uraescoa SOOWbOS NI me me 'elected nix Tclal Woe of Seciabos and the Not (poly mei Portal There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. PIC450 tOpZil oaf diforocoo or rontooNat ol NISI or stocks. facolod as doltroroa to you. 1/.. SOT•Tervi for ollcombonol moons caly. It Is not MOM as doused lo Owl Boman of 800134-1128: or yet to Qom NNICOS al Bow. Steam &comes 13 4 Ros scatorsero Maid be Maned for your records Soo worse So for mortars ONWICKG Cap.. Caw Metok,d , Coolly Hot. BrooNri, NY I i2obsest 027 07,0104:13:31 001 Y832 EFTA00195204 CLEARED 1NROUON RS YrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, t4,1 COO. Ceol.letsolech Cantot North Beoeklln• New Volt 11201.3859 EPSTEIN INTERESTS 2 or 7 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 OL0Ltl0:13:31 001 Y832 EFTA00195205 CLEARED THRWGH ITS Nutty, ONT4E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szeavn SOC.ritee Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Metsaiech Caritec NOM &woo. New Toot 11201.3559 STEARNS EPSTEIN INTERESTS 3 STATEMENT PER100 May 29.2004 THROUGH June 30.2004 ACCCUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER MAWR OR File 114S PERO° YEAR TO DATE THIS PERIOD LAST STATEMENT May 28.2004 Opening Balance $3.458.06 Dividends 625.49 3,132.71 Money Fund 625.49 Total $625.49 $3.132.71 Amount Credited $625.49 Money Fund -625.49 Portfolio Composition Amount Debited $-625.49 Cash/Cash Equivalent 823.942 Closing Balance $3,458.06 Total $823.942 Cash Balance Summary °FENNO CLOWN0 Your Portfolio Cash 3.458.06 3.458.06 Allocation Net Cash Balance $3.458.06 $3.458.06 Cash& Eq—salent — 100% lineable(' GoMons denote Oat Dion°, *nee 00.1 male veLee Tb elocahm ;event'', is clewed low *a ablal.te market rat), al >vv palkno 027 07.0194:13:31 001 V832 EFTA00195206 CLEARED 'THROUGH nS Nighty OHNE° SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beef. Metres SO4,4*1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Non York 10179 Cc* Meeseiecn Comet North Breadon. New Ye* 112013959 STEARNS EPSTEIN INTERESTS 4 vi STATELOENT PER100 May 29.2004 THROUGH June 30.2004 Your Portfolio Holdings ACCOUNT NUMBER CASH & CASH EQUIVALENTS TAXPAYER MAWR en Flle LAST STATEMENT May 28.2004 MARKET ESTIMATED CURION4I DESCRIPTION SIMBOUCuSIP QUANTITY PRICE VALUE MNUAL WOLK YELD CASH BALANCE 3.458 BEAR STEARNS PRIME MONEY FUND BS1.02( 820,483.95 1.0000 820.484 7.631 0.9301 DIVIDEND REINVESTED EST, 30 DAY AVG YEW 1.1200% TOTAL CASH & CASH EQUIVALENTS $823.942 $7,631 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRMOON SYMBOUCUSIP TYPE mum PRICE VALUE ANNA. INCOME YEW II0 BANPAIS SA-SPONSOREDADR BPIBY CASH 20,000 'Merited REPSTG 6 SER L SHS Total Equities& Options $0 $0 TOTAL EQUITIES $0 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $7,631 YOUR PRICED PORTFOLIOHOLDINGS $823,942 027 020104:12:31 001 Y832 EFTA00195207 CLEARED THRWGH ITS wHOM.Y 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beet. SZeirns SON, t4,1 Dap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Ore Montech Contec North Beccidon. New Ye* 11201.3859 STEARNS EPSTEIN INTERESTS 5 vi STATEMENT PERK* May 29.2004 THROUGH June 30.2004 Transaction Detail ACCOUNT NUMBER TAXPAYER M.M3ER OR File MONEY FUND ACTIVITY LAST STATEMENT May 28.2004 DATE M3DAY TRANSICTOs: DESOTIPTC.N S)1/ROettnir CAIANTITY PnoE DEBIT AMOUNT CREDIT AMOUNT 05/29/04 OPENINGBALANCE 819.858.46 06/01AM DIVIDEND BEAR STEARNS PRIME MONEY FUND BSN1XX 625.49 MONTHLY DIVIDEND 06/01/04 REINVEST BEAR STEARNS PRIME MONEY FUND BSN1XX 625.49 625.49 DIVIDEND REINVEST 06/30/04 CLOSINGBALANCE 820.483.95 TOTAL $625.49 $625.49 027 DL0604:13:31 001 Y832 EFTA00195208 CLEARED THROUGH ITS anIOLLY CMY.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Stairas SOC,M*1 Dap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 CeoLlevoiech Cantof North Beccioon. New Teta 11201.3859 STEARNS EPSTEIN INTERESTS 6 STATEMENT PERIOD May 29.2004 THROUGH June 30.2004 ACCCUNT NUMBER TAXPAYER WESER OR File Your messages LAST STATEMENT May 28.2004 Any short positions in your account will be kept "marked-to-the market', This Notice Regarding a Change in The Statement of Interest Charges ir&? Pursuant to the "Truth-in-Lending" Rule 10 (b)-16 Regarding Short Sales ra" means that periodically the balance maintained in the short account will be And Marking-To-The-Market adjusted to equal the market value of the short securities, Securities that are priced below five dollars per share may be valued at five dollars per share for Effective no earlier than thirty (30) days from your receipt of this statement, we short marking-to-the market purposes. If a security has been sold short (or will compute interest regarding your short sales and marking-to-the market as sold short against the box) and has appreciated in market price over the follows: selling price, interest will be charged on the amount of appreciation; if it depreciates in market price, interest will be correspondingly reduced by the fi e credit that appears on your statement due to short sales (including short drop in value, The appreciation or depreciation of securities sold short will be sales against the box) is offset by a debit of like amount because Bear Steams determined by Bear Steams Securities based upon daily dosing prices or Securities has to borrow the same security in order to deliver it to the buying quotations provided by pricing services, as applicable, or upon such factors as broker and has to provide its lender additional collateral of up to 105% of the Bear Stearns Securities in its sole judgement deems pertinent, settled short market value of the borrowed securities to secure such loan. This means that the debit balance on which interest is computed will be the Please note that the other sections of the "Truth-in-Lending" disclosure difference between (i) up to 105% of the settled short market value of such previously provided to you remain unchanged, short sales (across all currencies), which shall be calculated daily, and (ii) the proceeds of such short sales, 027 07)01,04:13:31 001 Y832 EFTA00195209 CLEARED THROUGH ITS yniCaLY CnME0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Steens anent.* Dap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 CycLicennecn Cantec North Bronco. New Tux 112014559 STEARNS EPSTEIN INTERESTS 7 STATEMENT PERM May 29.2004 THROUGH June 30.2004 ACCCUNT NUMBER TAXPAYER AMMER 1311File LAST STATEMENT May 28.2004 Pursuant to the terms of the equity research settlement that was entered into Please be advised of the following changes regarding account service fees: by Bear Stearns and other major investment banks, we will soon make available to our customers, independent third-party research ('Independent Beginning September 1, 2004, accounts will be subject to a $20.00 Research'), at no cost, on the common stock of certain companies covered by processing fee for each outgoing wire transfer and for each check issued by the Firm's Equity Research Department ('Covered Company). Customers will Bear Stearns at the request of a customer. You may wish to speak to your be able to access this research at wwgv,bearsteams,com or can call (800) Account Executive to inquire about the availability of check writing privileges for 517-2327 to request that a copy of this research be sent to them. your brokerage account. Further, Bear Steams will notify certain of our customers, at the time of each solicited order to buy or sell the common stock of a Covered Company, of the Beginning January 1, 2005, accounts will be subject to an annual account availability of Independent Research, and will provide, on the confirmations charge of $75.00 applicable for households that maintain less than $100,000 and statements that are generated for these customers, the rating(s) on such in net equity in related accounts or that generated less than $500 in Covered Company(s) by the Firm's Equity Research Department, as well as the brokerage commissions and/or fees paid to Bear Stearns in those accounts in corresponding rating(s) by the applicable Independent Research provider(s), the prior calendar year. where available. These notice provisions become effective in the near future and, to the extent applicable, will be included in your next monthly statement. Please note, Bear Stearns is not responsible or liable for (i) decisions relating to the procurement of Independent Research, (ii) Independent Research or its content, (iii) customer transactions, to the extent based on Independent Research, or (iv) claims arising from or in connection with access provided by the Firm and/or the inclusion of Independent Research ratings in trade confirmations, periodic account statements or vfimv,bearsteams.com. Bear Stearns is not required to supervise the production of Independent Research and has no responsibility to comment on the content of such Research. End of Statement 027 07/01104:13:31 001 EFTA00195210 CLEARED THROUGH ITS WHOLLY 01VMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT seer. Stearns SOMAISCH COO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York Nee York 10179 Ono Movotech Confer Noah Brocklin. New UM 1120/3859 STEARNS EPSTEIN INTERESTS STATEMENT PER100 May 1.2004 ACCOUNT EXECUTIVE LI3HaRMAN.IRA TELEPHONE THROUGH May 28.2004 VISIT OUR WEBSITE .vem uearstearns.com ACCOUNT NUMBER What's In This Statement Illlllllllll lllll lllllllllllllllllllllllllllllllllllllllllll TAXPAYER MAISER ()Ohio LAST STATEMENT April 30.2004 Financial Summary 3 EPSTEIN INTERESTS Your Portfolio Holdings 4 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN & MARK L Fund Activity 5 EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Your Portfolio at a Glance Market Value of Your Portfolio Cash 8 EqSvalent — 9823.316 NET CREDIT BALANCE 3.458 ll $822.709 MONEY MARKET FUND BALANCE 819.858 MI Current market vane Ed Last statement's market value NET EQUITY THIS PERIOD $823,316 NET EQUITY LAST STATEMENT 822.709 CHANGE SINCE LAST STATEMENT 607 •ThIS 1,0010110 Mr:ludas ao or more kerma SOCurOOS rat we Am rated", rerr TMal Yea of Seowbos and the Ike Cooly The Noted There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. P10•50 repeal oaf Offeroroo a morome1 of tern or mocks, orecowd as CIOIWOOX1 10 you. 10 0001 SONIC00 01 800404-142e: a ono to Clam Services a Boot Smarm &comas Cat.. Caw LIcOmMcb Coolly Honk Brodir., NY. Iloo1.3859 gi r SOT•TWY Ia Infanaabanal mesons ally t kea fended as M ta tmed Nee saatemera amid be Maned to, your records See reverse S. fit modest SOCM00:01 027 06,2904:12:32 001 Y831 EFTA00195211 CLEARED 1NROUON NS vriseklY 0"E0 S0BSIDIARY 808r. Saee•ns SON, t4,1 Oa0. Ore lActsolech Cora ot North Brocklln• New VC* 11201.3859 EPSTEIN INTERESTS 2 of s STATEMENT BACKER IS PRINTED ON THIS PAGE 027 052804:12:32 001 •real EFTA00195212 CLEARED THROUGH WHOLLY OWNED SUEISIDMAY OFFICE SERVICING YOUR ACCOUNT ear. SOMAS SOOtxhin CND. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 One Matotech Corder Noah &talon. NA* Ye* 1120/3859 STEARNS EPSTEIN INTERESTS 3 tir • STATEMENT PERK* May 1.2004 THROUGH May 28.2004 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER NUMBER On File 16 PERIOD YEAR TO DATE THIS PERIOD LAST STATEMENT April 30.2004 Opening Balance $3,458.06 Dividends 606.99 2,507.22 Money Fund 606.99 Total $606.99 $2,507.22 Amount Credited $606.99 Money Fund -606.99 Portfolio Composition Amount Debited $-606.99 CashCash Equivalent 823.316 ClosingBalance $3.458.06 Total $823.316 Cash Balance Summary °FENNO CLOWN° Your Portfolio Cash 3.458.06 3.458.06 Allocation Net Cash Balance $3.458.06 $3.458.06 Cash S Eq..valent — 100% UntAtuled pomons dente debt Infancy mkt short 111844( yews The elocalicn perconTM9, le deireed Iron, ea atm,* market Vale 01 seta panark. 027 05,2904:12:32 001 111931 EFTA00195213 CLEARED THROUGH ITS ?mem.? 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beef. Saea•ns SOC,r44,1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 0-41km:tech Contm North BecciOon. New Ye* 112012859 STEARNS EPSTEIN INTERESTS 4 v/ STATEMENT PERIOD May 1,2004 THROUGH May 28,2004 Your Portfolio Holdings ACCOUNT NUMBER CASH & CASH EQUIVALENTS TAXPAYER MAWR On File LAST STATEMENT *11 30.2004 MARKET ESTIMATED CURBS'S' DESCRIPTION SIMBOLCUSIP QUANTITY PRICE VALUE MNUIL INCOME YELOD4 CASH BALANCE 3.458 BEAR STEARNS PRIME MONEY FUND BSP.VC( 819,858.46 1.0000 819.858 7,379 0.9000 DIVIDEND REINVESTED EST, 30 DAY AVG VELD .9100%• TOTAL CASH & CASH EQUIVALENTS 5823.316 57.379 EQUITIES Equities & Options ACC! MARKET ESTIMATED CURRENT DESCRFRON SYAIBOLUSIP TYPE awn PRCE VALUE ANNAN. INCOIAE YEW IIAI BANPAIS SA-SPONSOREDADR BPIBY CASH 20,000 Worked REPSTG 6 SER L SHS Total Equities& Options 50 50 TOTAL EQUITIES SO so YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $7,379 YOUR PRICED PORTFOLIOHOLDINGS $823.316 027 OS29,0402:32 001 Y831 EFTA00195214 CLEARED THROUGH ITS Yosem.Y OW•E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, t4,1 COO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 1O179 Ore Mevolech Contm North Beccidon. New Ye* 11201.3859 STEARNS EPSTEIN INTERESTS 5 STATEMENT PERIOD May 1,2004 THROUGH May 28,2004 Transaction Detail ACCOUNT mimeo., TAXPAYER MASSER On File MONEY FUND ACTIVITY LAST STATEMENT April 30.2004 DATE Mayo TRANSACION DESCRIPTPN SYMEWCUSIP OUANMY PRIDE DEBIT AMOUNT GREW AMOUNT 05/01/04 OPENINGBALANCE 819,251.47 05/03/04 DIVIDEND BEAR STEARNS PRIME MONEY O73921819 606.99 MARKET PORTFOLIO CL Y RECORD 04/3004 PAY 040004 05/03/04 REINVEST BEAR STEARNS PRIME MONEY O73921819 6O6.99 6O6.99 MARKET PORTFOLIO CL REINVEST PRICE $ 1.00 05/03/04 FUND BEAR STEARNS PRIME MONEY O73921819 -6O6.99 MARKET PORTFOLIO CL CUSIP CHANGE O5/O3/O4 EXCHANGE BEAR STEARNS PRIME MONEY 073921819 -819.251.47 MARKET PORTFOLIO CL AOOO886 TO A000942 CUSIP CHANGE O5/O3/O4 JOURNAL BEAR STEARNS PRIME MONEY FUND BSMXX 6O6.99 CUSIP CHANGE O5.O3/O4 EXCHANGE BEAR STEARNS PRIME MONEY FUND BSMXX 819,251.47 A000942 FROM AOOO886 CUSIP CHANGE O5/28/O4 CLOSINGBALANCE 819.858.46 TOTAL $-606.99 $6O6.99 End of Statement 027 OS/20(04;12:32 001 Veal EFTA00195215 CLEARED THRCOGH nS WHOU.Y OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beef. SIWAS SO•uilit1 COO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue Coo Llettotech Center Noah etCCk411. Now Vcek 11201.3859 STEARNS New York Nee York 10179 EPSTEIN INTERESTS STATEMENT PERIOD April 1. 2004 ACCOUNT EXECUTIVE Z :HEEHAW...IRA TELEPECCE THROUGH April 30.2004 VISIT OUR WEBSITE eenvuea•stearrs.ccm ACCOUNT NUMBER What's In This Statement Iiilllll11llllllllllllllllllllllllllllllllllllllllllllllllll TAXPAYER NUMBER On File LAST STATEMENT March 31.2004 Financial Summary 3 EPSTEIN INTERESTS Your Portfolio Holdings 4 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN & MARK L Fund Activity 5 EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Your Portfolio at a Glance Market Value of Your Portfolio Cash S Equyalent — $822/09 NET CREDIT BALANCE 3.458 ll $822.068 MONEY MARKET FUND BALANCE 819.251 NE Current market value Ed Last statement's market value NET EQUITY THIS PERIOD $822,709 NET EQUITY LAST STATEMENT 822.068 CHANGE SINCE LAST STATEMENT 641 'Rs p0010110 MOludOS ao of mom uraesced SOCurOOS rat me ea Nita:tea nix Taal Wee of Soma's and the Not Cooly This Portal There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Ple.mo mood oaf Offence* a retwoctiot of nd's or MOCKS. oldladal as delicome io pal. to Cleat Semen of 800134-1428: a yeto to Clem SONICOS a Boos. Steam &comes Cap.. One lArhok•th Coolly North. BrooNyn. NY. II2014059. St Ties staternero Maid Senna4dpapaws TNEWNTRITYN only B is roe fended &sound:one atottaanal for your records See reverse Woke modem rdcemseco 027 090190:13:17 001 V830 EFTA00195216 CLEARED 1HRCO3H ITS WHOLLY 01W.IED SUBSIDIARY 8ftu. SOMAS WARY CO% One Llettotoch Corder North EReck4n. New Vcdc 11201.3859 EPSTEIN INTERESTS 201$ STATEMENT BACKER IS PRINTED ON THIS PAGE 027 OS131,04:13:17 001 V830 EFTA00195217 CLEARED THRWGH ITS 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOCwititi COO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cc* Momloch Contm North BrodCon. New Yeitt 11201.3559 STEARNS EPSTEIN INTERESTS 3 • STATEMENT PERIOD Rgil 1. 2004 THROUGH *11 30.2004 ACCCUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER WESER On File TIaS PERIOD YEAR TO DATE THIS PERIOD LAST STATEMENT MVO 31.2004 Opening Balance $3.458.06 Dividends 641.38 1.900.23 Money Fund 641.38 Total $641.38 $1.900.23 Amount Credited $641.38 Money Fund -641.38 Portfolio Composition Amount Debited 9-641.38 Cash/Cash Equivalent 822,709 Closing Balance $3,458.06 Total $822,709 Cash Balance Summary °FENNO CLOWNS Your Portfolio Cash 3.458.06 3.458.06 Allocation Net Cash Balance $3.458.06 $3.458.06 Cash .4 Eq..salent — 100% UnsPadocl potions denote debt beano, any Or, mirky! voLoti Tha olocaticw percents?, is Owed Kum Ow 00101.te mark01 ran oil 027 OS431104:13:17 001 V830 EFTA00195218 CLEARED THROUGH ITS niCkLY OW,E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beef. Saea•ns SON, t4,1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Non York 10179 Cc* Meesetech Cella North Beccmon. New Teitt I I2DI.38S9 STEARNS EPSTEIN INTERESTS 4 vi STATEMENT PERIOD AO 1. 2004 THROUGH Age 30.2004 Your Portfolio Holdings ACCCUNT NUMBER CASH & CASH EQUIVALENTS TAXPAYER NURSER On File LAST STATEMENT March 31.2004 MARKET ESTIMATED CURRSVT DESCRIPTION SIMBOLCUSIP QUANTITY PRICE VALUE MNUIL INCONE YELO ITL/ CASH BALANCE 3.458 BEAR STEARNS PRIME MONEY BSILOCt 819,251.47 1.0000 819.251 7,291 0.8900 MARKET PORTFOLIO CL Y DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $822.709 $7.291 EQUITIES Equities & Options ACC! MARKET ESTIMATED CURRENT DESCRIPTION SYAIBOLUSIP TYPE wenn PRCE VALUE ANATOL INCOME YEW I%) BANPAIS SA-SP0NS0REDADR BPIBY CASH 20,000 'Mucked REPSTG 6 SER L SHS Total Equities& Options $0 $0 TOTAL EQUITIES SO $0 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $7.291 YOUR PRICED PORTFOLIOHOLDINGS $822/09 027 05/01+04:13:17 001 V830 EFTA00195219 CLEARED THRWGH ITS 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, t4,1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cc* Meesetech Cantm North BecciCon. New Year 11201.3869 STEARNS EPSTEIN INTERESTS 5 STATEMENT PERIOD April 1.2004 THROUGH April 30.2004 Transaction Detail ACCOUNT NUMBER TAXPAYER KINSER On FIk MONEY FUND ACTIVITY LAST STATEMENT March 31.2004 DATE M3DAY TRANSACION DESCRIPTIM SYMBOLCVSIP DOWRY PRICE DEBIT AMOUNT CREDIT AMOUNT 04/01/04 OPENINGBALANCE 818,610.09 04/01/04 DIVIDEND BEAR STEARNS PRIME MONEY BSMXX 641.38 MARKET PORTFOLIO CL RECORD 03.51/04 PAY 03/31/04 04/01/04 REINVEST BEAR STEARNS PRIME MONEY 8SMXX 641.38 641.38 MARKET PORTFOLIO CL 11 REINVEST PRICE $ 1.00 04/30/04 CLOSINGBALANCE 819,251.47 TOTAL 9-641.38 $641.38 End of Statement 027 05131,N:13:17 001 V830 EFTA00195220 CLEARED THRCOGH ITS WHCU.Y 01WED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beef. Steams SOMA'S* Corp. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York Nee York 10179 Cr* lietrotech Center North Brock/on. Nee yea( 1120/3859 STEARNS EPSTEIN INTERESTS STATEMENT PERIOD February 28.2004 ACCOUNT EXECUTIVE Z:CHERMAN.IRA TELEPICIE THROUGH March 31.2004 VISIT OUR WEBSITE iyow.uentearrs.com ACCOUNT NUMBER What's In This Statement 111001110 lllll IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII111111111 TAXPAYER NUMBER On FOE LAST STATEMENT February 27.2004 Financial Summary 3 EPSTEIN INTERESTS Your Portfolio Holdings 4 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN & MARK L Fund Activity 5 EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR Your Messages 6 NEW YORK NY 10022.6843 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Enurelent — $822.068 NET CREDIT BALANCE 3.458 $846,460 MONEY MARKET FUND BALANCE 818.610 NE Current market value Ed Last statement's market value NET EQUITY THIS PERIOD $822,068 NET EQUITY LAST STATEMENT 846.460 CHANGE SINCE LAST STATEMENT -24.392 'Rd portfolio melodies ao or moro urpelced socurnos rat me at rolocted max TOM YOU, of Semabos and Om Phe (poly Di, Ported There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Reza ropmi oaf clIforonoe a roorooNo1 of crocks of socks, mdicolod as dolicorod to 'to. TREsmwrarYmEof etnnabenal weans taly *Is net WOWS east...kat 10 Cleat Sonic*. of EXOO4-1428: a ymto to ChM Santos a Boos. Stan &canes Cap.. Coe LleeNNS Coco troth. larodros, N Y I I2014.59 gir Tin statement shotkl be rearms for yoor records Sn revers* sole fa modest IIVOIThatKa 027 0401,134:12:65 001 Y829 EFTA00195221 CLEARED 1NROUON RS YrisekLY 0"E0 SUBSIDIARY Beer. SZeirns SON, 14,1 COO. Ceol.letioloch Cantot North Beccidon. New Volt 11201.3859 EPSTEIN INTERESTS 2 or e STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0401.04:12:55 001 Y829 EFTA00195222 CLEARED THROUGH ITS ?RIMY CAM•EO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns S0N, 14,1 COO. Bear. Stearns 8 Co. Inc. BUR 383 Madison Avenue New YY New York 10179 Ore Momloch Conte North Becck/on. New Volt 11201.3859 STEARNS EPSTEIN INTERESTS 3,n STATEMENT PERIOD February 28.2004 THROUGH Match 31,2004 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER WESER Ofl File DC PERIOD YEAR TO DATE THIS PERICO LAST STATEMENT February 27.2004 Opening Balance $3.458.06 Dividends 608.09 1,258.85 Money Fund 25608.09 Total $608.09 $1,258.85 Amount Credited $25.608.09 Money Fund -608.09 Portfolio Composition Funds Withdrawn -25.000.00 Cash/Cash Equivalent 822.068 Amount Debited $-25.608.09 Total $822.068 Closing Balance $3,458.06 Cash Balance Summary Your Portfolio opus CLCSPIG Allocation Cash 3,458.06 3,458.06 Net Cash Balance $3.458.06 $3,458.06 Cash 8, Eq.eialent — 100% UnsPoled POMOnS 00nOle oa0t Diono, *nee 'McI mane voLee The Mtn:0m ;event'', to clewed loom Ow 00101.te market rat), al >vv palkno 027 0.01.04:12:55 001 V829 EFTA00195223 CLEARED THROUGH ITS ?RIMY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beet 51e9•n5 Seemeo Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Non York 10179 Ore Mevolech Contm North BredCon. New Ye* I1201.38S9 STEARNS EPSTEIN INTERESTS 4 c/ STATEMENT PERIOD February 28.2004 THROUGH March 31,2004 Your Portfolio Holdings ACCCUNT NUMBER CASH & CASH EQUIVALENTS TAXPAYER WESER On File LAST STATEMENT February 27.2004 MARXE7 ESTIMATED CURBS' DESCRIPTION SIMBOLCUSIP SUMMIT PRICE VALUE MNUIL WOW YEW r4 CASH BALANCE 3.458 BEAR STEARNS PRIME MONEY BS1.4)Dt 818.610.09 1.0000 818,610 7,449 0.9100 MARKET PORTFOLIO CL Y DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $822.068 $7,449 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESCRIPTION SYAIBOLUSIP Mt mum PRCE VNIE ANATOL INCOIAE YEW I%) BANPAIS SA-SP0NS0REDADR BPIBY CASH 20,000 'Merited REPSTG 6 SER L SHS Total Equities& Options $0 $0 TOTAL EQUITIES $0 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME 57.449 YOUR PRICED PORTFOLIOHOLDINGS 5822.068 027 04.01OtI2S5 001 EFTA00195224 CLEARED THROUGH ITS 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Saea•ns SON, t4,1 Cory. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Cc* Mon:tech Comer North Beccidon. New Yak 11201.3859 STEARNS EPSTEIN INTERESTS 5 c, STATEMENT PERIOD February 28.2004 THROUGH March 31,2004 Transaction Detail ACCOUNT NUMBER TAXPAYER WESER On File DEPOSITS AND WITHDRAWALS LAST STATEMENT February 27.2004 MONEY FUND ACTIVITY DATE MOVAT TRANSACTION DESCRIPTICN SYLIDX/CUSIP CAINITRY PACE DEBIT AMOUNT CREDIT AMOUNT 02/28/04 OPENINGBALANCE 843.002 03/01/04 DIVIDEND BEAR STEARNS PRIME MONEY 8SMX% 608.09 MARKET PORTFOLIO CL Y RECORD 02/27104 PAY 02/27/04 03/01/04 REINVEST BEAR STEARNS PRIME MONEY BSMXX 608.09 608.09 MARKET PORTFOLIO CL Y REINVEST PRICE $ 1.00 03/17/04 SOLD BEAR STEARNS PRIME MONEY BSMXX -25.000 1.0000 25.000.00 MARKET PORTFOLIO CL Y 03/31/04 CLOSING8ALANCE 818.610.09 TOTAL $-608.09 $25.608.09 027 0:01,04:12:55 001 EFTA00195225 CLEARED THROUGH ITS 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns S0N, t4,1 Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mem:tech Contm North Beccidon. New Ye* 11201.3859 STEARNS EPSTEIN INTERESTS 6 STATEMENT PERI00 February 28.2004 THROUGH March 31,2004 ACCOUNT NUMBER TAXPAYER WESER CO File Your messages LAST STATEMENT February 27.2004 Excess SIPC Account Protection Update Effective February 16, 2004, the commercial insurer through which Bear, WS' Bear. Stearns Securities Corp. Net Capital and Net Capital Requirements: Steams Securities Corp. obtains excess SIPC protection changed to Customer At November 30, 2003 and January 31, 2004, the Company's net capital of Asset Protection Company MAPCO", a New York licensed insurance approximately $3.3 billion and $3,2 billion was approximately 7% and 7% of company. CAPCO has an A+ financial strength rating from Standard and aggregate debit items and exceeded the minimum regulatory net capital Pools. requirement of approximately $930,3 million and $967,8 million by approximately $2.4 billion and $2,2 billion, all respectively. A complete copy of the Bear, Stearns Securities Corp. Statement of Financial Condition is available on the web site www.bearstearns.com. Alternatively, to request a free printed copy please call • toll free 1.866.299-9331. Ea" hold The Firm believes it is of the utmost importance that clients who purchase or mutual funds fully understand the intricacies of the pricing structures and rules which govern these investments. Recently, a pint Industry/NASD Task Force collaborated to create a Disclosure Statement to address these issues, We are providing this Disclosure Statement to you for the purpose of reinforcing these concepts and to initiate the opportunity for further discussion of these issues to the extent you have questions. You are encouraged to contact your financial professional with any questions you have regarding your investments, Additionally, you may review this information online at the following NASD web site: http://vvw.nasdr.comibreakpoints_statement.asp End of Statement 027 04D1,00:12:55 001 Y829 EFTA00195226 CLEARED THRCOGH ns WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Ban. SOMAS SOMAIORT Can. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Ono Manatech Confer Noah Brocklin. New Yea 1120/3859 STEARNS EPSTEIN INTERESTS STATEMENT PERIOD January 31.2000 ACCOUNT EXECUTIVE ZICHERMAN.IRA TELEPHONE THROUGH Pebniaty 27.2004 VISIT OUR WEBSITE IA1 uearstearrts.com ACCOUNT NUMBER What's In This Statement Illlllllllll lllll 11 lllllllllllllllllllllllllllllllllllllllll TAXPAYER NUMBER On File LAST STATEMENT January 30.2004 Financial Summary 3 EPSTEIN INTERESTS Your Portfolio Holdings 4 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN & MARK L Fund Activity 5 EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR Your Messages 5 NEW YORK NY 10022-6843 Your Portfolio at a Glance Market Value of Your Portfolio Cash 8 Equvalent — NET CREDIT BALANCE 3.458 $845,809 $846,460 MONEY MARKET FUND BALANCE 843.002 Current market robe NET EQUITY THIS PERIOD $846,460 EN Last statement's market value NET EQUITY LAST STATEMENT 845.809 CHANGE SINCE LAST STATEMENT 651 •This portfolio melodies ono or monn unlaced mourn°. nil MO at teleaed n he Taal Woe of Sewing, and We Na Cooly Tin Penal There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Roza ropal oaf dfforwoo a nanroceire of teats or Mocks. calcolod as d4/cocoa lo Lou. b Gaol Sonic*. of 80004-1428: a veto lo ChM Sonata a Boot Steam &conies Cana. One lAaholat, Carla Honk Broabn, NY 112014859 et TN. SmYsTeN a tor orrombetml wean re/yak not alOrlded as a Um 000Allat Dn it atonal ahead be retained for y0W MOSS St. Mara Oa for irrocrlert rdermansn 027 02280411:67 001 Y828 EFTA00195227 CLEARED 1NROUON RS YrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, t4,1 COO. Ceol.letsolech Cantot North Broeklln• New Ye* 11201.3859 EPSTEIN INTERESTS 2 of s STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0228,04:11:57 001 Y828 EFTA00195228 CLEARED THROUGH ITS 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Saea•ns SON, t4,1 COT‘ Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Nee York 10179 Ore Maoloch Conte NOM etCCk/01. New To* 11201.3859 STEARNS EPSTEIN INTERESTS 3 ci STATEMENT PERIOD January 31.2004 THROUGH February 27.2004 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER MAWR OR PIM THIS PERIOD 1145 PERICO YEAR TO DATE LAST STATEMENT January 30.2004 Opening Balance $3.458.06 Dividends 650.76 650.76 Money Fund 650.76 Total 5650.76 $650.76 Amount Credited $650.76 Money Fund -650.76 Portfolio Composition Amount Debited $-650.76 Cashtash Equivalent 846.460 Closing Balance $3.458.06 Total $846.460 Cash Balance Summary OM. AO CLOSINO Your Portfolio Cash 3.458.06 3.458.06 Allocation Net Cash Balance $3.458.06 $3.458.06 Cash & Ewe/Went- 100% UnsPoled POMOnS denote oar Deena *nee l ,o•I mane ',Mae The elocal✓r ;event'', to awed Wm Ow 00101.te market rat), 01 IN palloo 027 022804:11:57 001 Y828 EFTA00195229 CLEARED THROUGH ITS OMPEO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beef. Saea•ns SOC,A,140 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Non York 10179 0-4 Meesetech Canto North Broodon. New Tent 11201.3859 STEARNS EPSTEIN INTERESTS 4 vi STATEMENT PERIOD January 31.2004 THROUGH February 27.2004 Your Portfolio Holdings ACOCCIPT NUMBER CASH & CASH EQUIVALENTS TAXPAYER MAPPER On FOE LAST STATEMENT January 30.2004 MARKET ESTIMATED CURRENT DESORPTION SYMBOLCUSIP QUANTITY PRICE VALUE MNUIL WOW YELOD4 CASH BALANCE 3.458 BEAR STEARNS PRIME MONEY BS1A/C( 843,002 1.0000 843,002 7.671 0.9100 MARNE' PORTFOLIO CL Y DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $846.460 $7.671 EQUITIES Equities & Options ACCT MARKET ESTIMATED CURRENT DESORPTION SYMBWOUSIP TYPE mum PRCE VAME ANNA. INCOIAE YEW NI BANPAIS SA-SP0NS0REDADR BPIBY CASH 20,000 'Merited REPSTG 6 SER L SHS Total Equities& Options $0 $0 TOTAL EQUITIES $0 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $7.671 YOUR PRICED PORTFOLIOHOLDINGS $846,460 027 022804:11:57 001 Y828 EFTA00195230 CLEARED THROUGH ITS wHOM.Y OW,C0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, t4,1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mon:tech Cantm North Beccidon. New Ye* I 1201.38S9 STEARNS EPSTEIN INTERESTS 5 STATEMENT PERIOD January 31.2004 THROUGH February 27.2004 Transaction Detail ACCOUNT NUMBER TAXPAYER KINSER On File MONEY FUND ACTIVITY LAST STATEMENT January 30.2004 DATE MCKIM TRANSACION DESCRIPTCN SrMBOLCIAIP cuomiry PFCE DEBIT AMOUNT CREDIT AMOUNT 01/31/04 OPENINGBALANCE 842.351.24 02/02/04 DIVIDEND BEAR STEARNS PRIME MONEY BSAIXX 650.76 MARKET PORTFOLIO CL Y RECORD 01/30/04 PAY 01/30104 02/02/04 REINVEST BEAR STEARNS PRIME MONEY 8SMX% 650.76 650.76 MARKET PORTFOLIO CL REINVEST PRICE $ 1.00 02/27/04 CLOSINGBALANCE 843.002 TOTAL $.650.76 $650.76 Your messages Excess SIPC Account Protection Update Effective February 16, 2004, the commercial insurer through which Bear, Steams Securities Corp, obtains excess SIPC protection changed to Customer Asset Protection Company MAPCO", a New York licensed insurance company, CAPCO has an A-I- financial strength rating from Standard & Poor's, End of Statement 027 0212St04;11:87 001 EFTA00195231 CLEARED IHRWOH ITS W1ICU.Y 01ThED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BON. ROAMS $ecu•ilkl Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 core lientech Cooler Noah 8tCCk/011. Men Yet* 11201.3859 STEARNS EPSTEIN INTERESTS STATEMENT PERIOD January 1.2004 ACCOUNT EXECUTIVE LICHENMAN.IRA TELEPHONE THROUGH January 30.2004 VISIT OUR WEBSITE IA1 uearstearns.com ACCOUNT NUMBER What's In This Statement IIIIIIIIIIII lllll IIIIIIIIIIIIIIIII 11111111111111I I L11111111 TAXPAYER WINER On Fee LAST STATEMENT December 31.2003 Financial Summary 3 EPSTEIN INTERESTS Your Portfolio Holdings 3 DTD 12/26/91 Transaction Detail 4 JEFFERY E EPSTEIN & MARK L Fund Activity 4 EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR Your Messages 5 NEW YORK NY 10022-6843 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equvalent 8845.809 NET CREDIT BALANCE 3.458 $845.156 MONEY MARKET FUND BALANCE 842.351 Current market value NET EQUITY THIS PERIOD $845,809 dd Last statement's market value NET EQUITY LAST STATEMENT 845.156 CHANGE SINCE LAST STATEMENT 653 'Ms portfolio mdudos ao or moo unpelcod mambos rat No rem miected mix TMal Woe of Seaman and Om Not Ewe/ Ms Ronal There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Plo.mit mon oror diforonoo a rontooNot of &WAS or Mat melicolod as CIOIWOOX1 10 yOu. tot wlnlaq a for recomberiol imposes coly els roe "landed an tat dowswtt 10 0001 Sonic*. of 8004314-1428: a Oro to ChM Santos a Boos. Steam Securnos not StatOrtiOrl seaside* cleaned for yew records Soo revers* sole for modest Samara Cap.. One LIfloloth Coolly North. BrooNri, NY. I I2014$59 027 01,31.04:09:43 001 Y824 EFTA00195232 CLEARED IHROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns Secallkl COO. CcoMetsolech Cerra North Broeklln• New Ye* 11201.0859 EPSTEIN INTERESTS 2 of s STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0141.04:09:42 001 11824 EFTA00195233 CLEARED THROUGH ITS ?RIMY OBBE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Steens Seop10.1 Cory. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Nevi York 10179 Or4Meaclech COMO( North Secede New volt i201.38S9 STEARNS EPSTEIN INTERESTS 3 STATEMENT PERIOD January 1.2004 THROUGH January 30.2000 ACCOUNT NUMBER Cash Flow Analysis Cash Balance Summary TAXPAYER HOWER On File THIS PERIOD (PM% CL0SNG LAST STATEMENT December 31.2003 Opening Balance $3.458.06 Cash 3,458.06 3,458.06 Money Fund 653.47 Net Cash Balance $3,458.06 $3,458.06 Amount Credited $653.47 Money Fund -653.47 Amount Debited $-653.47 Portfolio Composition CashtCash Equivalent 845.809 Closing Balance $3.458.06 Total 5845.809 Your Portfolio Allocation Your Portfolio Holdings CASH & CASH EQUIVALENTS MAPXET ESTIMATED DePENT DESORPTION SIMBOLCUSIP QUANTITY PACE VALUE PC.WE Yes (%, CASH BALANCE 3.458 BEAR STEARNS PRIME MONEY BSNO0( 842.351.24 1.0000 842,351 7.581 0.9000 MARKET PORTFOLIO CL DIVIDEND REINVESTED TOTAL CASH & CASH EQUIVALENTS $845.809 $7.581 Cash & Ego/Went- 100% UnsPoRRI POMP, denote oar Deena *new .eml mane yea, The Moms", revenue to awed hem Ow 00101/ a melte rat), 01 >ye peen" 02/ D1/31.00:09:40 001 V824 EFTA00195234 CLEARED THROUGH ITS OW,E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, 14,1 Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Dec Mem:tech Contec North BecciOon. New Year I1201.38S9 STEARNS EPSTEIN INTERESTS 4 cis STATEMENT PERK* January 1.2004 THROUGH January 30.2004 Your Portfolio Holdings (continued) ACCCUNT NUMBER EQUITIES TAXPAYER NUMBER Co File LAST STATEMENT December 31.2003 Equities & Options ACCT MARKET ESTIMATED CURFEW DESORPTION SYMBOUCUSIP TIDE OLIANTITY PACE VALLE ANNUAL iNCOIAE YELD N BANPAIS SA-SPONSOREDADR BPIBY CASH 20,000 'Marked REPSTG 6 SER L SHS Total Equities& Options $0 $0 TOTAL EQUITIES $0 $0 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $7.581 YOUR PRICED PORTFOLIOHOLDINGS $845.809 Transaction Detail MONEY FUND ACTIVITY DATE MCVAY TRANSACTION DESCRIPTION STMEPOUCUSIP OVANTRY PACE OMIT AMOUNT CREDIT AMOUNT 01/01/04 OPENINGBALANCE 841.697.77 01/02/04 REINVEST BEAR STEARNS PRIME MONEY BSMXX 653.47 653.47 MARKET PORTFOLIO CL Y REINVEST PRICE $ 1,00 01/02/04 DIVIDEND BEAR STEARNS PRIME MONEY BSMXX 653.47 MARKET PORTFOLIO CL Y RECORD 12/31103 PAY 12/31/03 INCLUDED t 2003 1099 027 Dli31.04:09:43 001 V824 EFTA00195235 CLEARED THROUGH ITS wilD5LY OH540 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beet STe9•n5 Seemeo GNP. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 0re Mem:1W+ Conte North 0eock11n. New Yee 11201.3859 STEARNS EPSTEIN INTERESTS 5 vi STATEMENT PERIOD January 1.2004 THROUGH January 30.2004 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER RAMER On File MONEY FUND ACTIVITY (continued) LAST STATEMENT December 31.2003 DATE MOVAY TRANSCGTICEI DESCRIPTOR SYMECUCUSIP OUAN1DY PRICE DEBIT Amour CREDIT AMOUNT 01/30/04 CLOSINGEtALANCE 842.351.24 TOTAL $453.47 $653.47 Your messages In? Effective Excess SIPC Account Protection Update February 16, 2004, the commercial insurer through which Bear, In? computed The interest, if any, charged to your account during December 2003 was on the net debit balance through December 30. The interest, if any, Steams Securities Corp. obtains excess SIPC protection will change to charged to your account during January 2004 is computed from December 31, Customer Asset Protection Company ('CAPCO'), a New York licensed insurance 2003. company. CAPCO has an A-1- financial strength rating from Standard and Poor's. End of Statement 027 01/2110409:43 001 Ye24 EFTA00195236