EFTA00195618

Statements EFTA00195618 CLEARED IHRWOH ITS WitCkLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beef. &owns Secvslen COO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Ore Metnucch Center North Beccium. New Tot 112013559 STEARNS FINANCIAL TRUST CO INC STATEMENT PER,00 November 29.2003 ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSITE wom.bearsteams.com THROUGH December 31.2003 AGLOW! NUMBER What's In This Statement IIIIIIII111111111 II TAXPAYER MILKER OREM LAST STATEMENT November 28. 2003 Financial Summary 3 FINANCIAL TRUST CO INC Your Portfolio Holdings 4 0/0 JEFFREY EPSTEIN Transaction Detail 6100 RED HOOK QUARTER Your Messages 13 STE B3 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio Important Message II any information regarding Cash B Equoalent 5360.860 TOTAL VALUE OF SECURITIES THIS PERIOD 18,601,283 5280.444 2003interest. dividends, miscellaneous income, LONG ACCRUED INTEREST 215,777 Toed $18.601.283 gross proceeds or original Income $15.453.004 issue discount is required NET CREDIT BALANCE 380,860 to be reported to the IRS for Current rnafk01 vane this account, a NET EQUITY THIS PERIOD $19,197,920 Consolidated Form 1099 giN Last statements market value will be mailed to you by February 2, 2004 or a 1042S NET EQUITY LAST STATEMENT 15,882,704 by March 15,2004. CHANGE SINCE LAST STATEMENT 3,315,216 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Tin momme/ m for dormaceel frames only Risme forded natal dcarntee Tin stateenere should Denten/etc, your records See reverie teSe tot ',modem awn/Cm 027 01,01,04:12:17 001 Yels EFTA00195619 CLEARED 1HROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. SZeirns Secallkl COO. Ceol.letsolech Contot North Broeklln• New Volt 11201.3859 FINANCIAL TRUST CO INC 2 oi la STATEMENT BACKER IS PRINTED ON THIS PAGE 027 01,01,04:12:17 001 Y818 EFTA00195620 CLEARED IHRWOH ITS witCkLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Saea•ns SON, I*1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Nee York 10179 Cc* Mevolech Cantec North Becck//n. New Yuk 11201.3859 STEARNS FINANCIAL TRUST CO INC 3 0 STATEMENT PER100 November 29.2003 THROUGH December 31.2003 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER WESER On File THIS PEPI00 TI.SSPEFaCO YEAR TO DATE LAST STATEMENT November 28. 2003 Opening Balance $280,444.12 Govt. Agency Int. 529,120.88 9.461.836.30 Corp. Bond Int. 240,687.70 1403.354.75 Securities Sold 34,476,423.63 Credit Balance Int. 31.77 1,111.16 Dividends/Interest 769,840.35 Reverse Repurchase Int. 4.127.88 26,483.48 Miscellaneous 114,939.00 Total $773,968.23 $11892.785.69 Amount Credited $35.361,202.98 Bond Purchase Int. -93,603.74 -143,760.56 Securities Bought -35,167,056.55 Margin Int. Paid -76.89 -76.89 Repurchase lnt. Exp. -24,344.52 Dividends/Interest Charged -93.68033 Miscellaneous -50.00 Amount Debited $35,260,787.18 Portfolio Composition Net Cash Activity 100.415.80 CastirCash Equivalent 380,860 ClosingBatance $380.859.92 Fixed Income 18.601,283 Your Portfolio Allocation Total $18.982.143 Cash Balance Summary OPEN NG CLOSING Margin 280.444.12 380.859.92 Net Cash Balance $280.444.12 $380,859.92 UnsPaOatl potions deo* debt bane, *Nit, shy, market vacs. he alocabor. percenm-ie is de•ued Item to absolute marital value of >ay Dario" 027 01,01.00:12:17 001 Y818 EFTA00195621 CLEARED THRWGH ITS niCkLY OHnEO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC7, 14,1 Cory. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Cc* Mevolech Cantof North BecdOon. New To* I1201.38S9 STEARNS FINANCIAL TRUST CO INC 4 vi STATEMENT PERK* November 29.2003 THROUGH December 31.2003 Your Portfolio Holdings ACCOUNT NUMBER CASH & CASH EQUIVALENTS TAXPAYER WESER On File LAST STATEMENT November 28. 2003 MARKET ESTIMAIED CLAPENT of:scan-ion S, MECL 0./SIP OUANTIT) PRICE VALUE MIVIJAL MCCUE ‘ SON) CASH BALANCE 380,860 TOTAL CASH & CASH EQUIVALENTS $380.860 FIXED INCOME Government & Agency Obligations ACC' ACCRUED FEMME° CURFOR DESCRIPTION S0MCLCUSP TYPE DUMMY PRICE MARKET VALUE MEREST ANNUAL INCOME YEID FEDERAL HOME LOAN MTG CORP MRGN 10.456.946 10.4905 1.096.983 27.127 610,372 55.6410 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/1 7% FACTOR - FEDERAL NATIONAL MTG ASSN MRGN 1,971,241 85.1406 1.678.327 2 20 STRIP MTG SERIES 322 CL PO DATED DATE 03/01/02 BOOK ENTRY ONLY DUE 03/01/2032 .001% FACTOR — 1,00000000 FEDERAL HOME LOAN MTG CORP MRGN 36166,242 3.6400 1.338.278 16.340 367.662 27.4728 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/1 0% FACTOR — FEDERAL HOME LOAN MTG CORP MRGN 18,505.970 11.2865 2.088.679 56,235 1.265,253 60.5767 SERIES 2488 CLASS SO DATED DATE 07/0&02 BOOK ENTRY ONLY DUE 03I1 7% FACTOR — 027 01.0104:12:11 001 PSIS EFTA00195622 CLEARED THROUGH ITS niCkLY OW,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 Ore Mevolech Car:Ng North BecciCon. New Ye* 11201.3559 STEARNS FINANCIAL TRUST CO INC 5 STATEMENT PERIOD November 29.2003 THROUGH December 31.2003 Your Portfolio Holdings (continued) ACCIMINIT NUMBER TAXPAYER PA/USER OR Foe LAST STATEMENT NOYEYRINN 28.2003 Government & Agency Obligations (continued) ACCT ACCRUED EVINCED CURNSNIT pi:seer IJtI ST7A3OLOJSP TYPE MAMMY PRICE LURKS VALUE MEREST ANNUAL *COME VELD 1Y4 FEDERAL HOME LOAN MTG CORP MRGN 21,350,313 10.6137 2.266.065 55,389 1.246,218 54.9948 SERIES 2483 CL SL DATED DATE 07102/02 BOOl< ENTRY ONLY DUE 03/1 7% FACTOR — FEDL HOME LOAN MTG MRGN 3.249.317 79.9844 2.598.946 SERIES 223 CLASS PO DATED DATE 12101/02 BOOK ENTRY ONLY DUE 12/01 FACTOR — FEDERAL NATIONAL MTG ASSN MRGN 18.701.667 11.2571 2.105.258 18,259 1.095.544 52.0385 SERIES 2003.49 CLASS SW DATED DATE 04/30/03 BOOK ENTRY ONLY DUE 01/25/11.9% FACTOR — Total Government& Agency Obligations $13.172.536 $173,352 $4,585,069 Corporate Bonds ACCT ACCRUED MIMEO CONFOR DESCRPRON SW/EICL.D.ISP TYPE OUMMTr PRICE WRKET VN.LE *RETEST ANNUAL INCOME YEW I* FANNIE MAE CMO/SERIES 2003-13 MRGN 37,118,425 14.6255 5.428.747 42,425 2.545,582 46.8908 S RCR-I!O FLTR DATED DATE 02/25/03 BOOK ENTRY ONLY DUE 03/25/21.1.8% FACTOR — Total CorporateBonds $5.428.747 $42,425 $2,545.582 TOTAL FIXED INCOME $18,601,283 $215,777 a130.651 027 0100004:12:17 001 Y818 EFTA00195623 CLEARED THRWGH ITS 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Sea•ns SON, 14,1 GOrP. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York New York 10179 Ore Mem:tech Conti North Braidon. New VC* I1201.38S9 STEARNS FINANCIAL TRUST CO INC STATEMENT PERIOD November 29.2003 THROUGH December 31.2003 ACCOUNT NUMBER TAXPAYER WESER Co File LAST STATEMENT November 28.2003 Your Portfolio Holdings (continued) YOUR TOTAL ACCRUED INTEREST $215.777 YOUR TOTAL ESTIMATED ANNUAL INCOME M.130.651 YOUR PRICED PORTFOLIOHOLDINGS $18.982.143 Repurchase and Reverse Repurchase Transactions with Bear,Stearnsand Co.Inc. outstanding as of date of statement PLREHASE REPURCHASE PPnCIMi PLIPtHASE P a. ACCRUED REPO CMANTIlY START DATE DATE RATE FRINCPAL NMEREST• (FACE AMOUNT) CUSP DESCRIPTION YOU PROVIDED FEDERAL HOME LOAN MTG CORP (MARGIN) 10/23/03 OPEN -51.655.000 SERIES 2530 CLASS SE 02/15+32 TOTAL REVERSE REPURCHASE TRANSACTIONS TOTAL REPURCHASE TRANSACTIONS 'As a ILIX(Metl CliCO • • 027 01,01,04:12:17 001 'VETS EFTA00195624 CLEARED THRWGH ITS witCkLY OtM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZWI0AS SOCv0t40 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Meesetech Contec North BecciO/n. New VC* 112014859 STEARNS FINANCIAL TRUST CO INC I November 29.2003 STATEMENT PERIOD THROUGH December 3f. 2003 Transaction Detail ACCOUNT NUMBER TAXPAYER WESER On Foe INVESTMENT ACTIVITY LAST STATEMENT Noventer 28.2003 SETTLEMENT 1840E DATE DATE TRANSACTION DESCRIPTION SWEIDICUSP WANTRY PRICE DEBIT AMOUNT CREPT AMOUNT 12104/03 12101/03 SOLD FANNIE MAE CMO/SERIES 2002-82 -14.242,198 11.43750 1,628,951.45 SK-VO RTR ACCR. INT. 24,679.06 BS 100543 PRINCIPAL FEDERAL NATIONAL MTG ASSN -69,948 IP MTG SERIES 322 CL PO K I:701 DUE 03/01/32 INCIPAL REDUCTN 12-25-03 1005/03 PRINCIPAL FEDL HOME LOAN MTG SERIES 223 CLASS PO -59,396 DUE 12/01/32 PRINCIPAL REDUCTN 12-15-03 12/05/03 JOURNAL FANNIE MAE CMOISERIES 200282 1 L.9 TD RTR 31 DUE 10/25/31 UST POSffION 1005/03 JOURNAL FANNIE MAE CMO/SERIES 2002-82 1 SK-VO RTR 1931 DUE 10/25/31 12/09/03 JOURNAL FANNIE MAE CMO/SERIES 2002-82 SK-10 RTR 1931 DUE 10/25/31 12/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -1.460.000 SERIES 2471 CLASS YT 1000 DUE 03/15/32 PRINCIPAL REDUCTN 12-15-03 12/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -302 SERIES 2471 CLASS VT 1900 DUE 03/15/32 PRINCIPAL REDUCTN 12-15-03 12/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -848.004 SERIES 2483 CL SL 5937 DUE 03/15/32 PRINCIPAL REDUCTN 12-15-03 027 01.0104.12:1/ 001 PSIS EFTA00195625 CLEARED THRWGH ITS niCkLY 0%M.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, t4,1 Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 CeoLlevalech CarrIN North Beccidon. New VC* 11201.3559 STEARNS FINANCIAL TRUST CO INC 8 vi STATEMENT PERIOD November 29.2003 THROUGH December 31.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER WESER On Foe INVESTMENT ACTIVITY (continued) LAST STATEMENT NOverntoN 28.2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYIA3WCUSIP tummy PRICE DEBIT AMOUNT CREPT MAOUNT 12/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -735,030 FUES 2488 CLASS SO .837 DUE 03/15/32 INCIPAL REDUCTN 12-15-03 12/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -370.995 SERIES 2526 CLASS SI 5.837 DIE 02/15/32 PRINCIPAL REDUCTN 12-15-03 12/15/03 PRINCIPAL FEDL HOME LOAN MTG 59,396.20 SERIES 223 CLASS PO WE 12/01/32 PRINCIPAL PAYMENT 12-15-03 12/18/03 12/18/03 BOUGHT FANNIE MAE CMO/SERIES 2003.13 37,669,355 14.50000 5,462,056.55 S RCR OD FLTR ACCR. INT. 93.603.74 06.881 . BS AS OF 03 iNTR COMPUTED TO 1208,03 12/26/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN 69.948.10 RIP MTG SERIES 322 Cl. PO ( ,001 DUE 03/01132 INCIPAL PAYMENT 12-25-03 12/26/03 PRINCIPAL FANNIE MAE CMG/SERIES 2003-13 550.930 RCII-I0 FUR J881 DUE 03/25/33 RINCIPAL REDUCTN 12-25-03 12/26/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN 277.580 SERIES 2003-49 CLASS SW 5,881 DUE 01/25/33 PRINCIPAL REDUCTN 12-25-03 TOTAL $-5,555,660.29 $1,782,974.81 02/ 010104:12:1/ 001 YIDS EFTA00195626 CLEARED THROUGH ITS niCkLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, t4,1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Dec Mevolech CarrIN North BecciOon. New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC 9 vi STATEMENT PERIOD November 29.2003 THROUGH December 31.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER WESER Cn Foe INTEREST LAST STATEMENT November 28.2003 DATE DESCRPTION SYMBOL CUSP DVANTITe RATE N.) DEBIT AMOUN' MEDD AMOUNT 12/01;03 AVG BAL 124.272RT 1. 021 OFFICE INTEREST 31.77 12/15/03 FEDERAL HOME LOAN MTG CORP 16000 31,855.45 SERES 2471 CLASS YT DUE 03/15/2032 1,000 INTEREST PAYMENT 12-15.03 12/15/03 FEDERAL HOME LOAN MTG CORP 58370 108.771.75 SERES 2483 CL SL DUE 03/15/2032 5837 INTEREST PAYMENT 12-15-03 12/15/03 FEDERAL HOME LOAN MTG CORP SERES 2488 CLASS 0 MIS NMI 110,315.08 DUE 03/15/2032 .837 INTEREST PAYMENT -15.03 12/15103 FEDERAL HOME LOAN MTG CORP SERES 2530 CLASS$E NMI 18.373.41 DUE 02/15/2032 I£.237 INT RFD II- 15-03 REPO P & I .2800 12/15/03 FEDERAL HOME LOAN MTG CORP 113,730.20 SERES 2530 CLASS jE DUE 02/15/2032 .237 INT RFD II- .0 -15-03 REPO P & I .2800 12/15/03 FEDERAL HOME LOAN MTG CORP 5.8370 53.056.91 SERES 2526 CLASS SI DUE 02/15/2032 5,837 INTEREST PAYMENT 12-15.03 12.26)03 FANNIE MAE CMO/SERIES 2003.13 S RCR-DO RTR NMI NMI 216.008.64 DUE 03/25/2033 1881 INTEREST PAYMENT -25.03 12/26/03 FEDERAL NATIONAL MTG ASSN SERES 2003.49 CLASS SW IMO* 5.8810 93.018.08 DUE 01/25/2033 5,881 INTEREST PAYMENT 12-25-03 027 01.010412:17 001 Yell EFTA00195627 CLEARED THRWGH ITS niCkLY OHT•E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC,M*1 GOO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mevolech Card“ North Beccioon. New VC* I1201.3559 STEARNS FINANCIAL TRUST CO INC 10 STATEMENT PERIOD November 29.2003 THROUGH December 31.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER WESER On Foe INTEREST (continued) LAST STATEMENT November 28.2003 DATE DESORPTION SATE/PAL/SIP QUANTITY RATE I%) DEBIT AMOUNT DREW AMOUNT 12/31/03 AVG BAL 23,718RT 3.765 76.89 021 OFFICE INTEREST 1203 TOTAL $-76.89 $745,161.29 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear,Stearns& Co.Inc. SETTLEMENT TRADE DATE DATE TRANSACTION DESCRPTICN SYMEICLCuStP DUMONT SCOTT AMOUNT CREDIT AMOUNT 12/04/03 JOURNAL ADP CD 1.800.000.00 FITM-PR 12/091 JOURNAL ADP CD 3.989.000.00 FITM-PR 12/09/03 JOURNAL ADP CD 3,989,000.00 FITM-PR 12/091 JOURNAL ADP CD 3.989.000.00 FITM-PR 12109703 JOURNAL ADP CD 4.208.000.00 FITMPR 120911 INTEREST ADP CD 2.177.33 DUE 1213 25 07/ 01 01 04.12:1/ 001 EFTA00195628 CLEARED THRWGH ITS CAM.EO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szeirns Secv, t.ti COO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 0 -41km:tech Centec North Beccidon. New VC* 11201.3559 STEARNS FINANCIAL TRUST CO INC 11 • STATEMENT PERIOD November 29.2003 THROUGH December 31.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER NUMBER OR File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT NOveffitet 28.2003 fl ee TRADE DATE DATE TRANSACTION DESCRPTICN STMOCCCUSIP CcANTITY DEBIT AMOUNT CREDIT AMOUNT JOURNAL ADP CD 4.208.000.00 FITM-PR 12110/03 JOURNAL ADP CD 4,208,000.00 FITM-PR 12/1011 JOURNAL ADP CD 4.208.000.00 FITMPR 12/10/03 JOURNAL ADP CD ATM-PR MIN 4.240.000.00 12/101 INTEREST ADP CD 118.06 DUE 123 25 121171 JOURNAL ADP CD 1,800,000.00 ATM-PR 12/17/03 JOURNAL ADP CD 4.240.000.00 FITM-PR 121171 JOURNAL ADP CD 4.240.000.00 FITM-PR 12/1711 JOURNAL ADP CD ATM-PR EMI 4.240.000.00 027 001 vale EFTA00195629 CLEARED THROUGH ITS YrisekLY CAM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, t4,1 Cory. Bear. Stearns 8 Co. Inc. BUR 383 Madison Avenue New YY New York 10179 Dec Metsolech Contof North Beccidon. New To* I 1201.3559 STEARNS FINANCIAL TRUST CO INC 12 • STATEMENT PERIOD November 29.2003 THROUGH December 31.2003 Transaction Detail (continued) ACCCUNT NUMBER ■ TAXPAYER NUMBER OR File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT November 28.2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION STMOCCCUSIP Cc/MIN DEBIT AMOUNT CREDIT AMOUNT 1017/03 JOURNAL ADP CD 1040.000.00 FITM-PR 101711 INTEREST ADP CD 654.50 DUE 123 25 12/171 INTEREST ADP CD 837.40 DUE 123 12/19/03 JOURNAL ADP CD 980,000.00 FITM-PR 12/1911 JOURNAL ADP CD 1,040,000.00 FITM-PR 12/191 INTEREST ADP CD 340.59 DUE 12/3 25 5-29,705,000.00 $32,718,127.88 MISCELLANEOUS DATE LtatAY TRANSACTeN DESCRIPTION DEM AMOUNT CREDIT AMOUNT 12/08/03 JOURNAL FITB RIM 114.939.00 027 OW1.04:12:17 001 Yale EFTA00195630 CLEARED THROUGH ITS YrisekLY CA1U.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Saea•ns SON, hti GOO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Cc* Momloch Cerra North BrockUn. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC 13 vi 13 STATEMENT PER100 November 29.2003 THROUGH December 31.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER AM MER On FIIB MISCELLANEOUS (continued) LAST STATEMENT November 28.2003 DATE MODAT TIMNSACTON DESCRIPTION DEBT AMOUNT Mtn A/arCr 12111/03 JOURNAL NOV.O3SPEC CLEARING FEES 50.00 TOTAL 5-50.00 $114.939.00 Your messages Excess SIPC Account Protection Update Bear, Stearns Securities Corp. ('BSSC'), a member of the Securities Investor Protection Corporation (SIPC"), provides account protection for the net equity of a customer's funds and securities positions. SIPC provides $500,000 of primary net equity protection, including $100,000 for claims for cash ("SIPC Coverage'), Visit wamr,sipc,org for more information about SIPC Coverage, BSSC provides the additional protection ('Excess SIPC") through a commercial insurer. Effective February 16, 2004, the commercial insurer for Excess SIPC will change to Customer Asset Protection Company ('CAPC0'), a licensed New York insurance company, Account protection applies when a SIPC member firm fails financially and is unable to meet its obligations to its securities customers, but does not apply to losses from the rise or fall in the market value of investments or to SIPC ineligible assets such as options, futures, foreign exchange transactions, or any investment contracts that are not registered as securities, End of Statement 027 01/01104;12:17 001 PSIS EFTA00195631 CLEARED THROWN ITS yrisCire OnttE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szeans SePribtl Cern Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Ore lectscicsh Corder North Becciorn. Nee Test 11201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PER100 November 1.2003 ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSITE vnee.bearsteams.cOm THROUGH Noventer 28.2003 ACCOUNT NUMBER What's In This Statement IIII II I 11II 11I II I II TAXPAYER NUMBER On File LAST STATEMENT Dater 31.2003 Financial Summary 3 FINANCIAL TRUST CO INC Your Portfolio Holdings 4 C/0 JEFFREY EPSTEIN Transaction Detail 6100 RED HOOK QUARTER STE B3 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio $280.444 Cash & Equvalent TOTAL VALUE OF SECURITIES THIS PERIOD 15.453.004 $450.076 LONG ACCRUED INTEREST 149.256 Fixed _515.453.004 Income $16.075.464 NET CREDIT BALANCE 280.444 Current market value NET EQUITY THIS PERIOD $15,882,704 au Last statements market value NET EQUITY LAST STATEMENT 16,731,773 CHANGE SINCE LAST STATEMENT -849,069 There are no 'Stop loss' orders or other pending buy or sell open orders on tile for your account. Slit Tres SinniPiRia ellemetmeel ptepssin say NTc4 irlended as fl at downed ststecnore should be retailed for your records Sea warm S. fee wooden Samna% 027 114903:08:43 001 EFTA00195632 CLEARED 1HROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. SZeirns SON, t4,1 COO. Ceol.letsolech Cantot North Broeklln• New Volt 11201.3859 FINANCIAL TRUST CO INC 2 el 12 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 11,2803:08:43 001 Y818 EFTA00195633 CLEARED 1HRWGH ITS ?RIMY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Screams SOC.r.t.t1 Cory. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mevolech Conte North BrodCon. New Tuft 11201.3859 STEARNS FINANCIAL TRUST CO INC 3 STATEMENT PERKO November 1.2003 THROUGH November 28.2003 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER AMMER On Ale DC PERI® YEAR TO DATE THIS PERIOD LAST STATEMENT October 31.2003 Opening Balance 3450.076.34 Govt. Agency lot. 552.396.94 8.932.715.42 Corp. Bond Int. 85.430.29 L162,667.05 Securities Sold 101,312,656.87 Credit Balance Int. 51.68 1,079.39 Dividendstinterest 637.878.91 Reverse Repurchase Int. 2.398.77 22,355.60 Miscellaneous 204.699.00 Total $640,277.68 $10,118,817.46 Amount Credited $102,155,234.78 Bond Purchase Int. • -50,156.82 Securities Bought -102,136.50300 Repurchase Int. Exp. • -24,344.52 Miscellaneous -188.367.00 Amount Debited 3.102.324.867.00 Portfolio Composition Net Cash Activity -169.632.22 CasttlCash Equivalent 280,444 Closing Balance 3280.444.12 Fixed Income 13453,004 Your Portfolio Total $15.733,448 Allocation Cash Balance Summary AG CLOSING Cash 8 Equinee - t 1% Margin 450.076.34 280.444.12 Net Cash Balance $450.076.34 3280.444.12 L Fixed Income 99% UnWooed croons coma oar Poona, onto Orr male wive, Tb olocam ;event'', ty dtmod Mtn to 001,01.1t motel rat), al >CV Mtn" 027 11.29,03:06:43 001 EFTA00195634 CLEARED 1HRWGH ITS niCkLY OHnE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC7H*1 Cory. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Ceol.levolech Centet North &WV% New Ye* I1201.313S9 STEARNS FINANCIAL TRUST CO INC 4 ci STATEMENT PERIOD November 1.2003 THROUGH Novemcer 26.2003 Your Portfolio Holdings ACCOUNT NUMBER CASH & CASH EQUIVALENTS TMPAYER KILMER On Pile LAST sTATELIENT October 31.2003 IMFbal ESTIMAIED CURRENT Le:scan-en S•AHICLOSIP QUANTITY PRICE VALUE MNUAL MCCUE YEtO iN4 CASH BALANCE 280,444 TOTAL CASH & CASH EQUIVALENTS 5280.444 FIXED INCOME Government & Agency Obligations ACC' /came Estritamo CURREN, DESCRIPTION S0MCLCUSP nit OLvo2i77 PRICE MARKET VALUE MEREST ANNUAL NCOIAE TELD nG FEDERAL HOME LOAN MTG CORP MRGN 10,827.941 10.5177 1.138.856 22.991 636.683 55.9055 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 0'2/15/2032 5.880% FACTOR — .42071211 FEDERAL NATIONAL MTG ASSN MRGN 2,041.189 83.3750 1.701.841 2 20 STRIP MTG SERIES 322 CL PO DATED DATE 03/01/02 8001< ENTRY ONLY DUE 03/01/2032 .001% FACTOR — 1.00000000 FEDERAL HOME LOAN MTG CORP MRGN 38,226.544 3.6983 1.413.715 13.800 382,265 27.0397 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.000% FACTOR — .38226545 FEDERAL HOME LOAN MTG CORP MRGN 19,241.000 11.3871 2.190.993 47.800 1.323.781 60.4192 SERIES 2488 CLASS SO DATED DATE 07/08102 BOOK ENTRY ONLY DUE 03/15,2032 A880% FACTOR - .3848 03 027 n.2103:08:43 001 .818 EFTA00195635 CLEARED THROUGH ITS YrisekLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC.r.t.t1 GOO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Ore Metsclech Cent“ North Beccidon. New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC 5 v. !rt STATEMENT PERIOD NOveMber 1.2003 THROUGH November 28.2003 Your Portfolio Holdings (continued) ACCOUNT NUMBER ■ TAXPAYER NUO3ER Oil File LAST STATEMENT October 31.2003 Government & Agency Obligations (continued) ACC' ACCRUED ESTIACIED CURRDIT DESCRI:MON S'IsECLCuSP TYPE OuAMITY PRICE MARKET VALLE MEREST ANNUAL /COME Yen NI FEDERAL HOME LOAN MTG CORP MRGN 22.198.317 10.6633 2.367.071 47,134 1.305.261 55.1425 SERIES 2483 CL SL DATED DATE 07102/02 BOOK ENTRY ONLY DUE 03/15/2032 5880% FACTOR — .38482002 FEDL HOME LOAN MTG MRGN 3.308.713 77.5781 2.566.838 SERIES 223 CLASS PO DATED DATE 12101/02 BOOK ENTRY ONLY DUE 12431/2032 FACTOR — .66174275 FEDERAL NATIONAL MTG ASSN MRGN 18.979,247 10.6794 2.026.866 9.302 1.116.170 55.0688 SERIES 2003-49 CLASS SW DATED DATE 04/30/03 BOOK ENTRY ONLY DUE 01/2512033 5.881% FACTOR .78082180 Total Government& Agency Obligations $13.406.180 $141.029 $4.764.180 Corporate Bonds ACCT ACCRUED CORR3ff DESCRPRON SYNEIWCUSP TYPE °wanly PRICE MARKET VN.LE *DETEST ANKIAL ESTINVIED INCOME YELD NN FANNIE MAE CMO/SERIES 2002-82 MRGN 14,242,197 14.3715 2.046.824 8,227 987,127 48.2273 SK-I/O FLTR DATED DATE 10/02/02 BOOK ENTRY ONLY DUE 10/252031 JI931% FACTOR — .5696 94 Total CorporateBonds 52.046.824 913.227 $987.127 TOTAL FIXED INCOME $15.453.004 $149.256 $5.751.307 027 11.29-03:08:43 001 V818 EFTA00195636 CLEARED THRWGH ITS ?RIMY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beet Sea•ns S0C,r44,1 GNP. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York Non York 10179 Ore Mem:tech Cella North 0eock11n. New Teitt 11201 3959 STEARNS FINANCIAL TRUST CO INC CI STATEMENT PERIOD NOYeMbet 1.2003 THROUGH Novemcer 26.2003 ACCOUNT NUMBER TAXPAYER WESER On PIM LAST STATEMENT OCICOSI 31.2003 Your Portfolio Holdings (continued) YOUR TOTAL ACCRUED INTEREST $149.256 YOUR TOTAL ESTIMATED ANNUAL INCOME $5.751.307 YOUR PRICED PORTFOLIOHOLDINGS $15.733.448 Repurchase and Reverse Repurchase Transactions with Bear,Stearnsand Co.Inc. outstanding as of date of statement PLACHASE REPURCHASE fl tIMi PLIPtHASE PRICE ACCRUED REPO CMAARITY START DAR DATE RATE MINERAL MEREST• (FACE AMOUNT) CUSP DESCRIPTION YOU PROVIDED FEDERAL HOME LOAN MTG CORP (MARGIN) 10:23/03 OPEN -51.655.000 SERIES 2530 CLASS SE 02/5+32 TOTAL REVERSE REPURCHASE TRANSACTIONS TOTAL REPURCHASE TRANSACTIONS 'As a IlaTOett dY0 • • 027 112303:O6:J3 001 YSTS EFTA00195637 CLEARED THROUGH ITS ViHMV OUB.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beef. Steins SeCvetel COM Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Cm Morocco Comet NOM BroUO/n. New Year 112013959 STEARNS FINANCIAL TRUST CO INC STATEMENT PERIOD November 1.2003 THROUGH November 28.2003 Transaction Detail ACCCUNT NUMBER TAXPAYER MAKER On File INVESTMENT ACTIVITY LAST STATEMENT October 31,2003 SETTLEMENT 10.40E DATE DATE TRANSACTION DESCRIPTION SYNOD:CUSP civaNnyy PRICE DEBIT AMOUNT CHEM MOM 11/07/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN -100,887 IP MTG SERIES 322 CL PO .001 DUE 03/01/32 INCIPAL REDUCTN 11.25-03 11/07/03 PRINCIPAL FEDL HOME LOAN MTGIIIIIM -61,871 SERIES 223 CLASS PO DUE 12/01/32 PRINCIPAL REDUCTN 11- I S-03 11/13/03 10/16/03 CANCEL SELL FNMA-30YR(FNMAJGTD 40.000.000 100.12500 40.050.000.00 SETT,I1103 05.500% as AS OF TO CM. PREVIOUS SELL 11/13/03 10/07/03 BOUGHT FNMA-30YRIFNMAJGTD 40.000.000 100.59375 40.237.500.00 SETT.I 1 03 Bs 11/13/03 10/16/03 SOLD FNMA-30YRiENMAIGTO -40.000.000 100.12500 40,050,000.00 SETT 1133 05,503,, as 11/13/03 10/07/03 CANCEL BUY FNMA-30YR(FNMAJGTD -40.000.000 100.59375 40.237.500.00 SETT,I1103 05,500% BS AS OF TO CM. PREVIOUS BUY 11/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP •1.910.000 SERIES 2471 CLASS YT 1.000 DUE 03/1532 PRINCIPAL REDUCTN 11-1533 027 11/29e03:08:43 001 PSIS EFTA00195638 CLEARED 1HRWGH ITS miCkLY OtM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirnS SOC.r.t..1 Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Momtech Cella North Beccidon. New VC* 11201.3559 STEARNS FINANCIAL TRUST CO INC 8 c/ !S STATEMENT PERKO November 1.2003 THROUGH Nosenter 28.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER WIESER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT OCIOter 31,2003 SETTLEMENT TRADE DATE DATE TRANSACTION OESORPTION 50180. CUSP PRCE DEBIT AMOUNT CHEM MONO 11/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP .818 SERIES 2471 PASS TT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 11-15433 11/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP .4109.000 SERIES 2483 a SL 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 114543 11/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -620 SERIES 2483 a SL 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 11-15-03 11/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -961.794 RIES 2488 CLASS SO K .880 DUE 03/15132 INCIPAL REDUCTN 11-15433 11/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP .527,288 SERIES 2526 CLASS SI 5,880 DUE 02115/32 PRINCIPAL REDUCTN 11-15-03 11/17/03 PRINCIPAL FEDL HOME LOAN MTG SERIES 223 CLASS PO MIS 61.871.10 DUE 12/01/32 PRINCIPAL PAYMENT 1145-03 11/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN 100.887.00 IP MTG SERIES 322 a PO kr2 01 DUE 03/01/32 INCIPAL PAYMENT 11-25-03 11/25/03 PRINCIPAL FANNIE MAE CMO/SERIES 2002-82 FLTR MIK -550,926 t 931 DUE 10/25/31 INCIPAL REDUCTN 11-25-03 027 TIF29,03:06:43 001 V818 EFTA00195639 CLEARED iHRWGH nS WHOLLY OrteLEO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szertos SOPM*1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mehoiech Cantm North 8rortoon. New Year 11201.3859 STEARNS FINANCIAL TRUST CO INC 9 ci STATEMENT PERIOD November 1.2003 THROUGH Novemcer 28.2003 Transaction Detail (continued) ACCOUNT! NUMBER TAXPAYER WEBBER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT October 31,2003 SETTLEMENT TRADE DATE DATE TRANSACTION OESCRIPTION SYMBOLCUSIP othwur PWCE DOE AMOUNT CREPT AMOUNT 11/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN -354,146 SERES 2003-49 CLASS SW 5,881 DUE 01/25/33 PRINCIPAL REDUCTN 11-25-03 TOTAL $40,287,500.00 $80,450,258.10 INTEREST DATE CESCRPTION SYMEIWCUSIP OUN‘Mil RATE IV DEW AMOUNT [PEW AMOUNT 11/03/03 AVG BAL 216.567RT 51.68 021 OFFICE INTEREST 1003 11/17/03 FEDERAL HOME LOAN MTG CORP 1.0000 33.447.80 SERES 2471 CLASS VT DUE 03/15/2032 1,000 INTEREST PAYMENT 11-15.03 11/17/03 FEDERAL HOME LOAN MTG CORP SERES 2483 CL SL NNE 5.8800 114,208.89 DUE 03/15/2032 5,880 INTEREST PAYMENT 11-15-03 11/17/03 FEDERAL HOME LOAN MTG CORP SERES 2488 CLASS i0 lilt 115,829.36 DUE 03/15/2032 880 INTEREST PAYMENT -15-03 11/17/03 FEDERAL HOME LOAN MTG CORP 19,268.14 SERES 2530 CLASSir DUE 02/15/2032 280 INT RID 10- AI 1 -15-03 REPO P 31 2800 11/17/03 FEDERAL HOME LOAN MTG CORP SERES 2530 CLASS SE IMF 119.268.51 DUE 02/15/2032 280 INT ND 10- /D 1 -15-03 REPO P & I 2800 07/ II 2903!0:43 001 V6118 EFTA00195640 CLEARED THRWGH ITS miCkLY OtM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. STMAns SOCA, tel Cory. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mevolech Cm:tog North 8mck/on. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC 10 CI 12 STATEMENT PERK* November 1.2003 THROUGH Novemcer 28.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER MASSER OR File INTEREST (continued) LAST STATEMENT October 31.2003 DATE OESCRETION SMIE/CMOUSIP QUANTITY RATE 04 DEBIT AMOUNT CREDIT AMOUNT 11/17/03 FEDERAL HOME LOAN MTG CORP 5.8800 55,640.62 SERES 2526 CLASS SI DUE 02/15/2032 5.880 INTEREST PAYMENT 11-15.03 11/25/03 FANNIE MAE CMG/SERIES 2002-82 85,430.29 SK-VO RTR DUE 10125/2031 "931 INTEREST PAYMENT -25-03 11/25/03 FEDERAL NATIONAL MTG ASSN 5.8810 94,733.62 SERIES 2003-49 CLASS SW DUE 01/25/2033 5.881 INTEREST PAYMENT 11-25.03 TOTAL $637,878.91 REPURCHASE AND REVERSE REPURCHASETRANSACTIONS with Bear,Stearns& Co.Inc. SET'LEMEM TRADE DVE DATE TRANSACTION DESCRPSON SYMBCLCUSIP OUANTITY OMIT AMOUNT CREDIT AMOUNT 11105.1. JOURNAL ADP CD 3.000.000.00 FITM-PR 11/05/03 JOURNAL ADP CD 3.000.000.00 FITM-PR 11/05: JOURNAL ADP CD FITM-PR MIK 3.000.000.00 11/05/03 JOURNAL ADP CD 3,450,000.00 FITM-PR 02/ 11,29M3,08:43 001 YSIS EFTA00195641 CLEARED THROUGH ITS YrisekLY OtM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC.r.t.t1 COO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Dec Metsolech Contof North Becck/on. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERIOD November 1.2003 THROUGH November 28.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER ALIMBER On Ale REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT October 31.2003 SE1TLEMDIT TRADE DATE DATE TRANSACTION DESORPTION STMEICCCUSIP CcAMITY DEBIT AMOUNT CREDIT AMOUNT 11/05.. INTEREST ADP CD 913.33 DUE 12)31. 25 lima" JOURNAL ADP CD FITM-PR INS 3.450.000.00 11/18/03 JOURNAL ADP CD 1450,000.00 FITM-PR JOURNAL ADP CD FITM-PR MIN 3.450.000.00 11/18/03 JOURNAL ADP CD 3.980.000.00 FITM-PR vial INTEREST ADP CD DUE 12)3 25 INK 1.262.12 JOURNAL ADP CD 3.980.000.00 FITM-PR 11/20/03 JOURNAL ADP CD 3.980.000.00 FITM-PR 11/201 JOURNAL ADP CD 3.980.000.00 FITM-PR 027 11,290303:03 001 4818 EFTA00195642 CLEARED THROUGH RS WIlCLLY ONnE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeIrns SON, t4,1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Cc* Momloch Cantot North BrodCon. New Year 112013959 STEARNS FINANCIAL TRUST CO INC 12 ci STATEMENT PERO) November 1.2003 THROUGH November 28.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER WEISER On File REPURCHASEAND REVERSE REPURCHASETRANSACTIONS (continued) LAST STATEMENT pointer 31.2003 SETTLEMENT TRADE WE DATE TR/MACRON DESORPTION SYMBOL:Di/Sty OVANIIIY DEBIT AMOUNT CREDIT AMOUNT 11/20/03 JOURNAL ADP CD 3.989.000.00 FITM-PR 11/101 INTEREST ADP CD 223.32 DUE 123 25 TOTAL 5-21.849.000.00 520.862.398.77 MISCELLANEOUS DATE wow TRM/SACTCN DESCRIPTION DEBT /NUM CPEDIT AMOuNT 11/05/03 JOURNAL FITG FITM 17.00 11/12/03 JOURNAL FNMA-30YR(FNMA)GTD 187,500.00 SEMI 1/03 5.500 DUE 11/01/33 MBS NET 11/12/03 11/17/03 JOURNAL FITG FITM 204.699.00 11/24/03 JOURNAL OCT 03 SPEC CLEARING FEES 850.00 TOTAL $-188.367.00 $204,699.00 End of Statement 02? 11 290308:43 03:C8:43 00I EFTA00195643 CLEARED THROUGH ns ?nobly OHNE° SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szea•ns Seca•ekl COM Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Sec Mcvoicch Center North &Worn. NM rex 1120/3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERt00 October 1.2003 ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSITE vernv.bearstearns.com THROUGH Dater 31.2003 ACCOUNT NUMBER What's In This Statement (1111111111111111 II TAXPAYER mabER On File LAST STATEMENT Septeorter 30.2003 Financial Summary 3 FINANCIAL TRUST CO INC Your Portfolio Holdings 4 CAD JEFFREY EPSTEIN Transaction Detail 6100 RED HOOK QUARTER Trades Not Yet Settled 14 STE B3 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Enurelent 1 $49°.076 TOTAL VALUE OF SECURITIES THIS PERIOD 16,075,464 $992 LONG ACCRUED INTEREST 206,233 Fixed $16.075.464 Income kithfrpstuthr . . $13.466.661 NET CREDIT BALANCE 450,076 Current market vane NET EQUITY THIS PERIOD $16,731,773 mm Last statements market value NET EOUrrY LAST STATEMENT 13,670,819 CHANGE SINCE LAST STATEMENT 3,060,954 There are no 'Stop loss' orders or other pending buy or sell open orders on tile for your account. SIK INC Hang R for nTOTITHBoAol rants only It Is From noirded as a tar <bona Trm ststernerc should be nitasiocI for your records Ste worse sods for importers donation 027 11/01.03:13:39 001 YSIS EFTA00195644 CLEARED 1HROUGH ITS vriseklY 0"E0 SUBSIDIARY Beer. Saee•ns SON, t4,1 GOO. Ore lActsolech Cora ot North Brocklln• New VC* 11201.3859 FINANCIAL TRUST CO INC 2 of 14 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 11,01,03:13:39 001 V818 EFTA00195645 CLEARED 1HRWGH ITS niCkLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns S0C.r.t.ti Gap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Nee York 10179 Cc* Mevolech Cella North Beccidon. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC 3 ci •4 STATEMENT PERIOD °CMOS! 1.2003 THROUGH Octets! 31.2003 ACCCUNT NUMBER U Cash Flow Analysis Income Summary TAXPAYER WEBER On File 16 PERIOD TEAM TO DATE NIS PERIOD LAST STATEMENT September 30.2003 Opening Balance $992.05 Govt. Agency Int. 589.443.56 8.380.318.48 Corp. Bond Int. 89,757.59 1,077,236.76 Securities Sold 158,614,157.53 Credit Balance Int. 96.26 1,027.71 Dividends/Interest 679.297.41 Reverse Repurchase Int. 1,538.03 19,956.83 Miscellaneous 1,214,062.50 Total $680,835.44 59.478,539.78 Amount Credited $160,507,517.44 Bond Purchase Int. • -50,156.82 Securities Bought -159,821,725.15 Repurchase Int. Exp. • -24,344.52 Miscellaneous -236.708.00 Amount Debited $-160,058A33.15 Portfolio Composition Net Cash Activity 449,084.29 CashICash Equivalent 450,076 Closing Balance $450.076.34 Fixed Income 16.075,464 Your Portfolio Total $16,525,540 Allocation Cash Balance Summary opthhG C LCci Margin 992.05 450.076.34 Net Cash Balance $992.05 $450.076.34 Untoded preens deo* debt bane, *Nit, shy, norkee ways The elocabon percenmo, Ormed Iron tr.e obsokte /milted value palkno 027 11,01.03:13:39 001 1/818 EFTA00195646 CLEARED THROUGH ITS wilekLY OW,E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, 14,1 GOO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Metsolech Contec NOM Braidon. New Yuk I1201.38S9 STEARNS FINANCIAL TRUST CO INC 4 STATEMENT PERK* OCTOOSI 1.2003 THROUGH OCTOIMI 31.2003 Your Portfolio Holdings AcccuNT NUMBER CASH & CASH EQUIVALENTS TAXPAYER /AJMER On File LAST STATEMENT September 30.2003 IMPXE1 ESTIMATED CURPENT DESCRIPTION SIMBOLOUSIP DUMMY PRICE VALUE !ANS INCOME YIELD IN.) CASH BALANCE 450.076 TOTAL CASH & CASH EQUIVALENTS $450.076 FIXED INCOME Government & Agency Obligations AC' ACCRUED ESTRUM) CAMFGVI DESORPTION SITMOUCUSP TYPE ()LAMM PRICE MARKET VALLE NTEPEST ANMJAL iNCOIAE YEW 114 FEDERAL HOME LOAN MTG CORP MRGN 11.355.229 10.4109 1.182.184 29,675 667.687 56.4791 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 0'2/15/2032 5.880% FACTOR — .44119951 FEDERAL NATIONAL MTG ASSN MRGN 2.142.076 84.2031 1.803.695 2 21 STRIP MTG SERIES 322 CL PO DATED DATE 03/01/02 BOOl< ENTRY ONLY DUE 03/01/2032 .001% FACTOR - 1.00000000 FEDERAL HOME LOAN MTG CORP MRGN 40.137.362 3.6956 1.483.335 17.840 401.374 27.0589 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.000% FACTOR - .40137363 FEDERAL HOME LOAN MTG CORP MRGN 20,202,794 11.2818 2.279.235 61,775 1.389.952 60.9833 SERIES 2488 CLASS SO DATED DATE 07/08102 BOOl< ENTRY ONLY DUE 03/15,2032 jk880% FACTOR — .4040 91 02/ 11,01,03:13:39 001 vets EFTA00195647 CLEARED THROUGH ITS YrisekLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, t4,1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 1O179 Ore Mevolech Cantot North Beccidon. New Ye* 11201.3859 STEARNS FINANCIAL TRUST CO INC 5 4/ '4 STATEMENT PERK* °CMOS! 1.2003 THROUGH OCIOOSI 31.2003 Your Portfolio Holdings (continued) ACCOUNT NUMBER ■ TAXPAYER MAMER Onfile LAST STATEMENT Sepecnter 30.2003 Government & Agency Obligations (continued) ACCT ACCRUED ESTRUM) CURFIBVI DESCRPRON SWASOLCUSP TYPE OUAMITY PRICE MARKET VALUE MEREST ANNUAL WPM Yap NI FEDERAL HOME LOAN MTG CORP MRGN 23,3O7,937 1O.5512 2.459.263 60,909 1.37O,5O7 55.7284 SERIES 2483 CL SL DATED DATE O7/O2/02 BOOK ENTRY ONLY DUE 03/15/2032 5880% FACTOR - 40405590 FEDL HOME LOAN MTG MRGN 3.37O.584 78.3359 2.64O.379 SERIES 223 CLASS PO DATED DATE 121O1102 BOOK ENTRY ONLY DUE 12/01/2032 FACTOR — .67411697 FEDERAL NATIONAL MTG ASSN MRGN 19.333.393 1O.98O5 2.122.9O5 18.947 1.136.8O4 53.5495 SERIES 200349 CLASS SW DATED DATE 04/3003 BOOK ENTRY ONLY DUE 01/2512033 5.880% FACTOR — .79539167 Total Government& Agency Obligations $13.97O.996 $189.148 $4.966.345 Corporate Bonds /COT ACCRUED ESTIMTE0 CURFEW' DESCRIPTION FRA3OLCAISP TYPE QUANTITY PRICE MARKET VNAE *RETEST ANMJAL INCOME YEW 1%1 FANNIE MAE CMO/SERIES 2OO2-82 MRGN 14,793,123 14.226O 2.104.468 17,085 1.025,163 48.7136 SK-I/O RTR DATED DATE 10/02/02 BOOK ENTRY ONLY DUE 10/25/2031 1930% FACTOR — .5917 96 Total CorporateBonds $2.104.468 $17.085 $1,O25,163 TOTAL FIXED INCOME $16,075,464 $2O6.233 $5,991,5O8 027 II/01,03:13:39 001 V818 EFTA00195648 CLEARED 1HRWGH ITS YesC5LY 0"EO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Steens Sebettee GNP. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 1O179 Sec Mevolech Canto North Bee:kW% New Toot 11201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERIOD °MON 1.2003 THROUGH °CMOS! 31.2003 ACCCUNT NUMBER TAXPAYER PANDER On File LAST STATEMENT September 30.2003 Your Portfolio Holdings (continued) YOUR TOTAL ACCRUED INTEREST $2O6.233 YOUR TOTAL ESTIMATED ANNUAL INCOME $5.991.5O8 YOUR PRICED PORTFOLIOHOLDINGS $16.525.54O Repurchase and Reverse Repurchase Transactions with Bear,Stearnsand Co.Inc. outstanding as of date of statement PLADMSE REPURCHASE PIOCINS PURCHASE PRICE ACCRUED REPO CMPAITITY START DATE DATE RATE MINERAL MEREST' (FACE AMOUNT) CUSP DESCRIPTION YOU PROVIDED FEDERAL HOME LOAN MTG CORP (MARGIN) 10/23/03 OPEN -51.655.000 SERIES 253O CLASS SE O2/5+32 TOTAL REVERSE REPURCHASE TRANSACTIONS TOTAL REPURCHASE TRANSACTIONS 'As a IlaTOett diCO • • 027 11,01.03:13:39 001 Y818 EFTA00195649 CLEARED THRWGH ITS niCkLY 0%M.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirhs SOC,r44,1 Gat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 0 -41km:tech Cella HMO Beccidon. New Tuft 11201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERK* OCTOON 1.2003 THROUGH Octoter 31.2003 Transaction Detail ACCCUNT NUMBER ■ TAXPAYER KAMER Co File INVESTMENT ACTIVITY LAST STATEMENT Sepleffite 30.2003 SETTLEMENT TRADE DATE DATE TRANSACTiON DESCRIPTION SVME40,CUSP WANMY viva DENT AMOUNT CHEM MOM 10/07/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN •169.307 IP MTG SERIES 322 CL PO ,001 DUE 03/01/32 INCIPAL REDUCTN 10-25-03 10/15/03 09/30/03 BOUGHT FEDL HOME LOAN MTG 3,370.584 82.31250 2,774,412.65 SERIES 223 CLASS PO BS TO ADJ 1. ACTOR AS OF 095003 1W15/03 09/05/03 CANCEL SELL FNMA-30VR(FNMAJGTD 10,000,000 99.53125 9,953,125.00 SETLI 0103 05,600% BS AS OF TO CXL PREVIOUS SELL 10/15/03 09/05/03 CANCEL SELL FNMA-30YR(FNMA) GTD 10.000.000 99.53125 9.953.125.00 SETT,I0iO3 05,500% BS AS OF TO CM. PREVIOUS SELL 10/15/03 09/04/03 CANCEL SELL FNMA-30YR(FNMA) GTD 15.000.000 98.96875 14.845.312.50 SETT,I0+03 05,500% BS AS OF TO CXL PREVIOUS SELL 10/15/03 10/07/03 CANCEL SELL FNMA-30YR(FNMA) GTD SETLI 0403 IMO 40.000.000 100.94922 40.379.687.50 05.600,. BS AS OF TO CXL PREVIOUS SELL 071 11,01,03:13:39 001 'eels EFTA00195650 CLEARED THRWGH ITS OHnE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC.,44.1 Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 0 -4 Mevolech CarrIN North Beccidon. New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC 8 STATEMENT PERK* OCTOtet 1.2003 THROUGH OCIOtet 31.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER WESER 011File INVESTMENT ACTIVITY (continued) LAST STATEMENT September 30.2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION STMOCUCUSIP OVANTITY mice DEED AMOUNT CHEM MOM 10/15/03 09/03/03 BOUGHT FNMA-30YR(FNMS)GTD 65.000,000 98.40625 63.964.062.50 SETT,10/03 BS 1015/03 09/05/03 SOLD FNMA-30YR(FNMA) GTO SETT,I0+03 MEI -10.000,000 99.53125 9.953,125.00 BS 10/15/03 09/05/03 SOLD FNMA-30YR(FNMA)GTD -10.000.000 99.53125 9.953.125.00 SETE' 0+03 BS 10/15/03 09/04/03 SOLD FNMA-30YR(FNMA) GTD -15.000.000 98.96875 14.845.312.50 SEIM 0/03 BS 10/15/03 10/07/03 SOLD FNMA-30YR(FNMA) GTD SEIM at3 NMI -40.000.000 100.94922 40.379.687.50 05.500% BS 10/15/03 09/03/03 CANCEL BUY FNMA-30YR(FNMA) GTD SETT.I0t03 NMI -65.000.000 98.40625 63.964.062.50 05.50011 BS AS OF TO CM. PREVIOUS BUY 10/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP 3.174.000 SERIES 2471 CLASS VT 1.000 DUE 03115132 PRINCIPAL REDUCTN 10-15-03 027 11,01,03:13:39 001 .818 EFTA00195651 CLEARED IHRWGH ITS niCkLY CAM.EO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC.r.bel Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 0-4 Mevolech Car:Ng HMO Beccidon. New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC 9 c/ '4 STATEMENT PERIOD OCTOON 1.2003 THROUGH OCIOtet 31.2003 Transaction Detail (continued) ACCCUNT NUMBER ■ TAXPAYER KAMER On hie INVESTMENT ACTIVITY (continued) LAST STATEMENT Septeoter 30.2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SOM. CUSP co...Amur, PRCE DEBIT AMOUNT CHEM AMOUNT 10/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -971 SERIES 2471 CLASS VT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 10-15-03 10/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -1.843.000 SERIES 2483 CL SL 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 10-15-03 10/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -719 SERIES 2483 CL SI. 5,880 DUE 03/15/32 PRINCIPAL REDUCTN 10-15-03 10/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -1.598.000 CRIES 2488 CLASS SO ,880 DUE 03/15132 INCIPAL REDUCTN 10-15-03 10/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -94 SERIES 2488 CLASS SO .880 DUE 03/15/32 INCIPAL REDUCTN 10-15-03 10/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -804.857 SERIES 2526 CUSS SI 5880 DUE 02/15/32 PRINCIPAL REDUCTN 10-15-03 10/24/03 JOURNAL FEDERAL HOME LOAN MTG CORP RIES 2530 CUSS SE C. 280 DUE 02/15/32 JUST POSITION 10/27/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN 16%307.00 STRIP MTG SERIES 322 CL PO 001 DUE 03/01/32 INCIPAL PAYMENT 10-25-03 10/27/03 PRINCIPAL FANNIE MAE CMG/SERIES 2002-82 -749,315 FLTR .930 DUE 10/25/31 INCIPAL REDUCTN 10-25-03 027 11,01,03:13:S9 001 YSIS EFTA00195652 CLEARED THRWOH ITS vnICXLY CAM•E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Nukes SOCAN*1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Ore Meeeteen Comm North Becck//n. New To* 112013959 STEARNS FINANCIAL TRUST CO INC 10 c! Tr STATEMENT PERIOD OCIOtet 1.2003 THROUGH 0C100SI 31.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER WESER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT September 30.2003 SETTLEMENT TRADE DATE DATE TRANSACT IN DESORPTION SMOG CuS Fe °MARTI PRICE DEBIT AMOUNT CPEDI AMOI,NT 10127/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN •498.148 SERIES 2003-49 CLASS SW 5.880 DUE 01/25/33 PRINCIPAL REDUCTN 10-25-03 TOTAL $•141.869.725.15 $139.264.619.50 INTEREST DATE DESCRIPTION STROM/COW °WRIT! RATE l%1 DENT AMOUNT CREDIT •MCUNT 10/01/03 AVG BAL 992RT 021 OFFICE INTEREST 0903 10/02/03 AVG BAL 379.748RT 96.24 021 OFFICE INTEREST 0903 10/15/03 FEDERAL HOME LOAN MTG CORP 1.0000 36.093.61 SERES 2471 CLASS YT DUE 03/15/2032 1.000 INTEREST PAYMENT 10-15.03 1CV15/03 FEDERAL HOME LOAN MTG CORP 5.8800 123.243.11 SERES 2483 CL SL DUE 03/15/2032 5.880 INTEREST PAYMENT 10-15.03 10/15/03 FEDERAL HOME LOAN MTG CORP 124.991.77 SERES 2488 CLASS": DUE 03/15/2032 .880 INTEREST PAYMENT 1503 10/15/03 FEDERAL HOME LOAN KITS CORP 148356.10 SERES 2530 CLASS SE DUE 02/15/2032 .280 INT RID 09-03.RiD -15-03 REPO P & I .2800 027 II/01,03:13:29 001 V818 EFTA00195653 CLEARED THROUGH ITS OHT.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC.,44.1 COrP Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cc* Mevolech Contet North Beccidon. New VC* 11201.3869 STEARNS FINANCIAL TRUST CO INC 11 CI 4 STATEMENT PERIOD WOW 1.2003 THROUGH OCIOtet 31.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER WESER CO File INTEREST (continued) LAST STATEMENT September 30.2003 DATE CESCRPTION SYME/CIAUSIP QUANTITY RATE INT DEBIT AMOUNT MEDD AMOUNT 10/15/03 FEDERAL HOME LOAN MTG CORP 5.8800 59,584.42 SERES 2526 CLASS SI DUE 02/15/2032 5.880 INTEREST PAYMENT 10-15.03 10/27/03 FANNIE MAE CMG/SERIES 2002-82 89,757.59 SK-VO RTR DUE 10/2512031 t930 INTEREST PAYMENT -25.03 10/27/03 FEDERAL NATIONAL MTG ASSN 5.8800 97,174.55 SERES 2003-49 CLASS SW DUE 01125/2033 5.880 INTEREST PAYMENT 10-25 03 TOTAL 8679,297.41 REPURCHASE AND REVERSE REPURCHASETRANSACTIONS with Bear,Stearns& Co.Inc. SETTLEMENT TRADE DATE DATE TRANSACTION DESCRPININ STMBCLCUSIP QUANTITY DEBIT AMOUNT CREDIT AMOUNT 10/02A3 JOURNAL ADP CD 4.396.000.00 FITM-PR 10/021 JOURNAL ADP CD FITM-PR INK 4.396.000.00 10/021 INTEREST ADP CD DUE 12/3 25 MIK 250.33 1W06/03 JOURNAL ADP CD 4.296.000.00 FITM-PR 02/ 11,01D3:13:39 001 YSIS EFTA00195654 CLEARED THRWGH ITS YrisekLY CAM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, t4,1 Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue Dec Metsolech Contof North Becck/on. New To* 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST CO INC STATEMENT PERIOD °MON 1.2003 THROUGH OCIOtet 31.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER MAIBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT Seplefilter 30.2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPRON STMEIWCUSIP Cc4NTITY DEBIT AMOUNT CREDIT AMOUNT 10/061. JOURNAL ADP CD 4.396.000.00 FITM-PR 10/0&1 INTEREST ADP CD 323.59 DUE 1213 25 10/15/03 JOURNAL ADP CD 1,520,000.00 FITM-PR 10115 JOURNAL ADP CD FITM-PR MIN 4.296.000.00 10/151 INTEREST ADP CD 698.10 DUE I2,3 25 101161 JOURNAL ADP CD 1.520.000.00 FITM-PR 10/16/03 JOURNAL ADP CD 1,520,000.00 FITM-PR 1onall JOURNAL ADP CD 1.520.000.00 FITM-PR 10(16103 JOURNAL ADP CD FITM-PR EMI 3,220.000 00 027 11,01,03:13:39 001 Y818 EFTA00195655 CLEARED THRCOGH NS ?JINNI? CAM•ED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC.r.14.1 Cory. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 0-4 Metsolech Centec North Beccidon. New Tuk 11201.3559 STEARNS FINANCIAL TRUST CO INC 13 STATEMENT PERIOD WOW 1.2003 THROUGH OCIMMI 31.2003 Transaction Detail (continued) ACCCUNT NUMBER ■ TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT Seplefilter 30.2003 SETTLEMENT TRADE DATE DATE TRMISACRON DESORPTION STMOCCCUSIP OUNRIW DEBIT AMOUNF CREDIT AMOUNT 10/161. INTEREST ADP CD 31.67 DUE 12131. 25 10/20/03 JOURNAL ADP CD 3,000,000.00 FITM-PR 10/201 JOURNAL ADP CD 3.220.000.00 FITM-PR 16201 INTEREST ADP CD 234.34 DUE 1213 25 10/23/03 JOURNAL FEDERAL HOME LOAN MTG CORP -22,790,161 28ES 2530 CLASS SE C 0W REPO A it 10/23/03 JOURNAL FEDERAL HOME LOAN MTG CORP 26,471,971 IES 2530 CLASS SE 280 DU RGN A2 TERM NT 10/23).03 JOURNAL FEDERAL HOME LOAN MTG CORP -3,681,809 2530 CLASS SE C 280 DU RGNIII REPO AGR Al TOTAL 8-17,952.000.00 $19,349,538.03 027 11,01,03:13:39 001 YS1S EFTA00195656 CLEARED THRWGH ITS YrileklY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC.r.t4B Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Ore Mem:tech Contec North Beccidon. New Ye* 112013959 STEARNS FINANCIAL TRUST CO INC 14 vi Tr STATEMENT PERK* OMB!! 1.2003 THROUGH OCIOOSI 31.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER WESER On File MISCELLANEOUS LAST STATEMENT September 30.2003 DATE MODAY TPANSACKN CESDRIPT Dr. DEBT AMOUNT CTEtIT ANICA.NT 10106/03 JOURNAL FITG TO FITM 1338.00 10/10/03 JOURNAL FITG FITM 69,463.00 10/14/03 JOURNAL SEP 03SPEC CLEARING FEES 1,050.00 10/15/03 JOURNAL FNMA-30YR(FNMA)GTD 1,214,062.50 SETT.10/03 5500 DUE 10101/33 ABS NET 10/1503 10/20/03 JOURNAL FITG FITM 38,459.00 10/21/03 JOURNAL FITG FITM 126.398.00 TOTAL $-236.708.00 $1.214.062.50 Trades Executed Pending Settlement SETTLEMENT TRADE DATE DATE TRANSACTION DESORPTION SYMBO.CUS.9 OcANTiTy PRCE DEBT AMOUNT CREW AMOr.,N1 11/13/03 10/07/03 BOUGHT FNMA-30YR(FNMA)G1D 40.000.000.00 100.5937 40,237,500.00 SETT.11/03 05.500% BS 11/13/03 10/16/03 SOLD FNMA-30YR(FNMA)GTD -40.000.000.00 100.1250 40.050.000.00 SETT,11:03 05.500% BS TOTAL $40.237.500.00 $40.050.000.00 Tho Yea, 1'4601 CO not y4o4, In a,, omv sway, or t1n st 027 11,0103:13:39 001 7818 EFTA00195657 CLEARED THROUGH nS CAMEO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Stearn* SOPAGRI CONS Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York. New York 10179 Geo Metsolech Corder North Brockton. New Toes 11201.3559 STEARNS FINANCIAL TRUST CO INC STATEMENT PERK* August 30.2003 ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSITE wonv.bearsteams.cOm THROUGH Septeoter 30.2003 ACCOUNT NUMBER What's In This Statement 1111,111111111111 I I TAXPAYER NUSI3ER On File LAST STATEMENT August 29.2003 Financial Summary 3 FINANCIAL TRUST CO INC CdO JEFFREY EPSTEIN Your Portfolio Holdings 4 6100 RED HOOK QUARTER Transaction Detail STE B3 Trades Not Yet Settled 13 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio Important Message Bear Stearns is pleased to Cash & Equoalent —II $992 announce our conversion to TOTAL VALUE OF SECURITIES THIS PERIOD 13,466,661 $244 a calendar month-end LONG ACCRUED INTEREST 203,166 Fited S13.466.66 I statement. Effective this Income r...attw.Watai $13.626.053 month. your account NET CREDIT BALANCE 992 statement reflects all activity and account Current market YGue valuation up to and NET EQUITY THIS PERIOD $13,670,819 Egi Last statements market value including the last business day of the month. NET EQUITY LAST STATEMENT 13,836,583 CHANGE SINCE LAST STATEMENT -165,764 There are no 'Stop Lose orders or other pending buy or sell open orders on tile for your account. lea. 17s sunnTP/ Ns nfOrmstmnsl pulyssin only s sierded as cicarnol Tin Maternorg should be retailed for your words Soo mem We fa" rroonart neconatim 027 10,01,03:10:S4 001 V813 EFTA00195658 CLEARED 1HROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, t4,1 COO. Ceol.letsolech Cantot North Broeklln• New Volt 11201.38$9 FINANCIAL TRUST CO INC 2 oi la STATEMENT BACKER IS PRINTED ON THIS PAGE 027 100103:10:54 001 V813 EFTA00195659 CLEARED 1HRWGH ITS vniCkLY OBB.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Best. Saea•ns SOB,44,1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 OtoLlevotech Conte North BredCon. New To* 11201.3559 STEARNS FINANCIAL TRUST CO INC 3 0 STATEMENT Puce August 30.2003 THROUGH Seplerrter 30.2003 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER NUMBER (Nine PERIOD YEAR TO DATE THIS PERIOD LAST STATEMENT August 29.2003 Opening Balance $244.46 Govt. Agency Int. 663.909.77 1.790.874.92 Corp. Bond Int. 98.763.24 987,479.17 Securities Sold 176,098,821.93 Credit Balance Int. 128.15 931.45 Dividends/Interest 762,801.16 Reverse Repurchase Int. 2.357.87 18,418.80 Amount Credited $176.861.623.09 Total $765,159.03 $8,797,704.34 Securities Bought -175,152.227.06 Bond Purchase Int. • -50,156.82 Miscellaneous -1,708.648.44 Repurchase Int. Exp. • -24,344.52 Amount Debited $-176 860 875.50 Net Cash Activity 747.59 Portfolio Composition ClosingBalance $992.05 CastilCash Equivalent 992 Fixed Income 13.466.661 Your Portfolio Total $13,467,653 Allocation Cash Balance Summary OPUS NG CLOSING Margin 244.46 992.05 Net Cash Balance $244.46 $992.05 Fixed Income- 10O lin:Need croons Oen,* ooor beam onto* Orr male vote, The olorehm ;event'', is da•aed Ben Va ,Oeo1JF market rat), al >vv palkno 027 100103:10:54 001 V813 EFTA00195660 CLEARED THRWGH ITS niCkLY CA1h.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirhs SOC,r44,1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 0 -41km:tech Centec North Beccidon. New VC* 11201.3559 STEARNS FINANCIAL TRUST CO INC 4 STATEMENT PEW* August 30.2003 THROUGH Septernter 30.2003 Your Portfolio Holdings ACCCUNT NUMBER CASH & CASH EQUIVALENTS TAXPAYER MASSER On File LAST STATEMENT August 29.2003 MARKET ESTIMATED CURPENT DESORPTION SYMBOLCUSIP DUMMY PRICE VALUE !ANS INCOME YELD CASH BALANCE 992 TOTAL CASH & CASH EQUIVALENTS $992 FIXED INCOME Government & Agency Obligations ACV ACCRUED ESTMMEO CURRAN DESCRPTION SITSWCUSP TYPE DUMMY PRICE MARKET VALUE MEREST ANNUAL /COME VELD r4 FEDERAL HOME LOAN MTG CORP MRGN 12.160,086 9.7796 1.189.206 29,793 715,013 60.1252 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 0'2/15/2032 5.880% FACTOR — .47247166 FEDERAL NATIONAL MTG ASSN MRGN 2.311.383 87.5781 2.024.266 2 23 STRIP MTG SERIES 322 CL PO DATED DATE 03101/02 BOOK ENTRY ONLY DUE 03/01/2032 .001% FACTOR - 1.00000000 FEDERAL HOME LOAN MTG CORP MRGN 43.312.333 3.2974 1.428.182 18.050 433,123 30.3269 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.000% FACTOR - .43312334 FEDERAL HOME LOAN MTG CORP MRGN 21.800,888 10.1749 2.218.219 62,495 1.499,901 67.6174 SERIES 2488 CLASS SO DATED DATE 07/08102 BOOK ENTRY ONLY DUE 03/15/2032 Ilt r lEl9 80$ FACTOR - .4360 02/ 1001003:1051 001 Y513 EFTA00195661 CLEARED THROUGH DS vniotty OW,E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, 14,1 CO,P. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mevolech CarrIN North Beccidon. New Ye* 11201.3559 STEARNS FINANCIAL TRUST CO INC 5 STATEMENT PERIOD August 30.2003 THROUGH Septernter 30.2003 Your Portfolio Holdings (continued) ACCCAJNT NUMBER ■ TAXPAYER NULEER Ofl File LAST STATEMENT August 29.2003 Government & Agency Obligations (continued) ACCT ACCRUED (STEAMED CuAFENr ozster ion SWA3OLOASP TYPE OUAMITY PRICE MARKET VALUE MEREST ANNUAL INCOME VELD FEDERAL HOME LOAN MTG CORP MRGN 25.151.656 9.8365 2.474.037 61,619 1.478,917 59.7775 SERIES 2483 CL SL DATED DATE 07/02402 BOOK ENTRY ONLY DUE 03/15/2032 5880% FACTOR — .43601778 FEDERAL NATIONAL MTG ASSN MRGN 19.831.541 10.4766 2.077.667 16.225 1.168.078 56.2207 SERIES 200849 CLASS SW DATED DATE 04/3003 BOOK ENTRY ONLY DUE 01/2512033 5.890% FACTOR — .81588587 Total Government& Agency Obligations $11.411.577 $188.184 $5,295,055 Corporate Bonds ACCT ACCRUED ESTIAME0 CURRAN DESCranOu SWASOLCUSP TYPE QUANTITY ProCE IAARXET VALLE SOFTEST ANNUM. INCOIAE YEW l%1 FANNIE MAE CMO/SERIES 2002-82 MRGN 15.542,438 13.2224 2.055.084 14,982 1.078,645 52.4867 SK-ItO FLTR DATED DATE 10/02/02 BOOK ENTRY ONLY DUE 10/25/2031 j1940% FACTOR — .6216 57 Total CorporateBonds $2,055,084 $14,982 $1,078,645 TOTAL FIXED INCOME $13,466,661 $203,166 11,373,700 YOUR TOTAL ACCRUED INTEREST $203,166 YOUR TOTAL ESTIMATED ANNUAL INCOME ..373.700 YOUR PRICEDPORTFOLIOHOLDINGS $13,467,653 027 100103:10:54 001 V813 EFTA00195662 CLEARED 1HRCO3H ITS YAIOU.Y OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. MAWS SOMAIORT CND. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Ono Mototech Confer North BeccItIgn. New York 1120/3859 STEARNS New YY New York 10179 FINANCIAL TRUST CO INC STATEMENT PERIOD August 30.2003 THROUGH Septeoter 30.2003 Transaction Detail ACCOUNT NUMBER TAXPAYER NUMBER On File INVESTMENT ACTIVITY LAST STATEMENT August 29.2003 SETTLEMOO TRADE DATE DATE TRANSACTON DESCRIPTION STATEICII,CUSJP OVANTIW PRICE DEBIT AMOUNT GRECO MONO 09/15/03 08/04/03 CANCEL SELL FNMA-30YR(FNMA)GICI 10,000,000 94.98438 9,498,437.50 SETT,09103 05.000% BS AS OF TO CM. PREVIOUS SELL 09/15/03 06/17/03 BOUGHT FNMA-30YR(FNMPOGTD 10.000.000 101.46875 10.146.875.00 SETT,09/03 BS 09/15/03 08/04/03 SOLD FNMA-30YR(FNMPOGTD -10.000.000 94.98438 9.498.437.50 SETT,0963 BS 09/15/03 06/17/03 CANCEL BUY FNMA-30YR(FNMPOGTD -10.000.000 101.46875 10.146.875.00 SETT,0963 05,000% as AS OF TO CA. PREVIOUS BUY 09/15/03 07/28/03 BOUGHT FNMA 30YR MD 10.000.000 100.10938 10.010.937.50 BS 09/15/03 07/28/03 BOUGHT FNMA 30YR GTD 10.000.000 100.10938 10.010.938.00 SETT, 09/03 05.500% BS 027 1001.03:10:SA 001 Y813 EFTA00195663 CLEARED THROUGH RS vni(X1Y OBBE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Steirns SOD,44,1 COO. Bear. Stearns 8 Co. Inc. BUR 383 Madison Avenue New YY New York 10179 Dec Mevolech Cantof North Beccicon. New To* 11201.3559 STEARNS FINANCIAL TRUST CO INC STATEMENT PEW* August 30.2003 THROUGH Septernter 30.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER nuMBER On He INVESTMENT ACTIVITY (continued) 'Jun STATEMENT August 22. 2003 SETTLEMENT TRADE DATE DATE TRANSACT/ON CESCRIMON SYMBOLICUSP 0,./nrit• TRCE DEBIT AMOUNT CREDIT AMOUNT 09/15/03 07/07/03 BOUGHT FNMA 30YR GTD 20.000.000 102.25000 20,450,000.00 SETT, 09/03 BS 09/15/03 07/29/03 BOUGHT FNMA 30YR GTD SETT, 0903 NMI 35.000.000 99.48438 34.819.531.25 05,500% BS 09/15/03 09/03/03 CANCEL SELL FNMA 30YR GTD 65.000.000 98.80078 64.220.507.81 SETT, 09/03 05,500% BS AS OF TO CXL PREVIOUS SELL 09/15/03 07/28/03 CANCEL BUY FNMA 30YR GTD SETT, 09/03 NEI -10.000.000 100.10938 10,010,937.50 05,500is as AS OF TO CXL PREVIOUS BUY 09/15/03 07/28/03 CANCEL BUY FNMA 30YR MD -10.000.000 100.10938 10,010,938.00 SETT, 09/03 05,500% BS AS OF TO CM. PREVIOUS BUY 09/15/03 07/07/03 CANCEL BUY FNMA 30YR GTD -20.000.000 102.25000 20.450.000.00 SETT, 09/03 05,500i BS AS OF TO CIO. PREVIOUS BUY 027 IGOL03:10:54 001 .813 EFTA00195664 CLEARED THRWGH ITS niCkLY CAMEO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. szeirns socv,ht, Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mevolech Contof North Beccidon. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC 8 STATEMENT ou000 August 30.2003 THROUGH Sweater 30.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER WINTER OR File INVESTMENT ACTIVITY (continued) LAST STATEMENT August 29, 2003 SETTLEMENT TRADE DATE DATE TRANSACTOR CESCRINTON SITABOLCUS, GAMIN vacs DEW AMOUNT GREW AMOUNT 09/15/03 07/29/03 CANCEL BUY FNMA 30YR GTD -35.000,000 99.48438 34,819,53t25 SETT, 09/03 05,500% BS AS OF TO CM. PREVIOUS BUY 09/15/03 09/03/03 SOLD FNMA 30YR GTD -65.000.000 98.80078 64,220,507.81 SEM 09/03 BS 09/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP 4205.000 SERIES 2471 CLASS YT 1000 DUE 03/15/32 PRINCIPAL REDUCTN 09-15.03 09/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP 487 SERIES 2471 CLASS VT 1000 DUE 03/15/32 PRINCIPAL REDUCTN 09-15-03 09/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP 3.603.000 SERIES 2483 CL Si. 5.880 DUE 03/15,32 PRINCIPAL REDUCTN 09-15-03 09/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -553 SERIES 2483 CL SI. 5080 DUE 03/15/32 PRINCIPAL REDUCTN 09-15-03 09/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP 3.123.000 SERIES 2488 CLASS SO 080 DUE 03/15/32 INCIPAL REDUCTN 09-15-03 09/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP .479 SERIES 2488 CLASS SO 880 DUE 03/15/32 INCIPAL REDUCTN 09-15-03 07/ IDOL03:10:54 001 V813 EFTA00195665 CLEARED THRWGH ITS YosekLY 0OnE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beef. Steens Seenbet CANS Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Cato Meet °tech Canto North Becck/on. New Year 11201.3859 STEARNS FINANCIAL TRUST CO INC 9 STATEMENT PERK* August 30.2003 THROUGH SEDIENTtet 30.2003 Transaction Detail (continued) ACCCLINT NUMBER _ ■ TAXPAYER TOR OR file INVESTMENT ACTIVITY (continued) LAST STATEMENT August 29.2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBO,Cus-P WANT( refneE DEBTS AMOUNT MO/ ATIOLNT 09/15,03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -1,601,000 SERIES 2526 CLASS SI 5.880 DUE 02115/32 PRINCIPAL REDUCTN 09-I 5-03 09/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -287 SERIES 2526 CLASS SI 5.880 DUE 02/15/32 PRINCIPAL REDUCTN 09-15-03 09/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN 307,237.00 IP MTG SERIES 322 a. PO kr.C701 DUE 03101/32 IN RID 0CW P,D 09-25-03 REPO P & I 1.0000 09/25/03 PRINCIPAL FANNIE MAE CMO(SERIES 2002-82 -1,534,000 it RJR .930 DUE 10/25/31 INCIPAL REDUCTN 09-25-03 09/25/03 PRINCIPAL FANNIE MAE CMCVSERIES 2002-82 -778 f t-it FOR .930 DUE 10125/31 RINCIPAL REDUCTN 09-25-03 09/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN -1.090.000 SERIES 2003-49 CLASS SW 5,880 DUE 01/25/33 PRINCIPAL REDUCTN 09-25-03 09/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN -510 SERIES 2003-49 CLASS SW 5,880 DUE 01/25133 PRINCIPAL REDUCTN 09-25-03 TOTAL 5-159.157.227.06 $159.464.464.06 027 100103:10:54 001 EFTA00195666 CLEARED THROUGH ns ?mow, OME0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON•thel Cot. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cc* Mevolech CarrIN North Beccidon. New VC* 11201.3559 STEARNS FINANCIAL TRUST CO INC 10 CI 13 STATEMENT PERIOD August 30.2003 THROUGH SeMernter 30.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER KISSER On File INTEREST LAST STATEMENT August 29.2003 DATE DESORPTION QUANTITY RATE l%4 DEBIT AMOUNT GREW AMOUNT 09/02/03 AVG BAL 488.921R14. 128.15 021 OFFICE INTEREST 09/15/03 FEDERAL HOME LOAN MTG CORP SERES 2471 CLASS YT Miff 1.0000 41,264.85 DUE 03/15/2032 1,000 INTEREST PAYMENT 09-15.03 09/15/03 FEDERAL HOME LOAN MTG CORP SERES 2483 CL SI. NMI 5.8800 141,140.15 DUE 03/15/2032 5880 INTEREST PAYMENT 09-15.03 09/15/03 FEDERAL HOME LOAN MTG CORP 143,107.41 SERES 2488 CLASS 0 DUE 03/15/2032 880 INTEREST PAYMENT -15.03 09/15/03 FEDERAL HOME LOAN MTG CORP 168,159.56 SERES 2530 CLASS SE DUE 02/15/2032 280 INT RFD 08- /D 15-03 REPO P S I .2900 09/15/03 FEDERAL HOME LOAN MTG CORP 5.8800 67,545.40 SERIES 2526 CLASS SI DUE 02/15/2032 5,880 INTEREST PAYMENT 09-15.03 09/25/03 FANNIE MAE CMOSERIES 2002-82 98,763.24 SK-1/0 RTR DUE 10/25/2031 A930 INTEREST PAYMENT -25.03 09/25/03 FEDERAL NATIONAL MTG ASSN 5.8800 102,692.40 SERIES 2003-49 CLASS SW DUE 01/25/2033 5,880 INTEREST PAYMENT 09-25-03 TOTAL $762,801.16 027 100103:10:54 001 VS13 EFTA00195667 CLEARED THROUGH nS vngSly PANED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC,nbin Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mevolech Cantof North Beccidon. New Yak 11201.3559 STEARNS FINANCIAL TRUST CO INC STATEMENT ou000 August 30.2003 THROUGH Sweater 30.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS LAST STATEMENT Myst 29.2003 with Bear,Stearns& Co.Inc. scnumea TRADE DATE DATE TRANSACRON DES:REISS STMEICCCUSIP CAIMITITY OMIT AMOUNT CREDIT AMOUNT 09/05. JOURNAL ADP CD 5.033.000.00 FITM-PR 09/05/03 JOURNAL ADP CD 5,033,000.00 FITM-PR 09/0511 INTEREST ADP CD 685.05 DUE 12/3 25 09/11/03 JOURNAL FEDERAL NATIONAL MTG ASSN L:T MTG SERIES 322 CL PO NMI 2.311.383 001RDEp uilla RON A2 TERM NT 09/12/03 JOURNAL ADP CD 3.283.000.00 FiTM-PR 09/141 JOURNAL ADP CD FiTM-PR INK 5.033.000.00 09+121 INTEREST ADP CD 62733 DUE 12/3 25 09/291 JOURNAL ADP CD 3,283,000.00 FiTM-PR 027 10,01D3:10:54 001 Y513 EFTA00195668 CLEARED THROUGH ITS ~Oki? OIM`E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Stearns Oa0 Bear. Stearns & Co. Inc. BffiR 383 Madison Avenue New York, New York 10179 Dec Metsolech Conte< North Brock/pl. New Tuk 11201 3959 STffiRNS FINANCIAL TRUST CO INC 12 vi STATEMENT PERIOD August 30.2003 THROUGH Seilerroer 30.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File REPURCHASEAND REVERSE REPURCHASETRANSACTIONS (continued) UST STATEMENT August 29.2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESORPTION SYMBOLOVEiP °VANN'', DEBIT AMOUNT CREDIT AMOUNT 09/29/03 JOURNAL ADP CD 3.283.000.00 FILM-PR 09/29,1 JOURNAL 3.283.000.00 09/29M3 JOURNAL ADP CO 4.396.000.00 ErTM.PR 09/291 INTEREST ADP CD DUE 12:3 25 NMI 1.045.09 TOTAL $-15.995.000.00 $16.634.357.87 MISCELLANEOUS DATE MOAT TRANSACTCN DESCRIPTCN DEBIT AMOUNT CREPT NADVM 09/12/03 JOURNAL FNMA-30YR(FNMA)GM 648.437.50 SETT,09Ø 5.000 DUE 09101/33 MBS NET 09/12/03 09/12/03 JOURNAL FNMA 30YR GM 1,059,960.94 SEM 09/03 5.500 DUE 09101/33 MBS NET 09/12/03 09115103 JOURNAL AUG 03 SPEC CLEARING FEES 250.00 TOTAL 54 /08.648.44 027 IODIGS:10:54 001 YEI13 EFTA00195669 CLEARED THRWGH ITS YrisekLY CAM•E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, I*1 GOO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cc* Mem:loch Cantof North Beccidon. New Tuft 11201.3559 STEARNS FINANCIAL TRUST CO INC 13 vi 13 STATEMENT PERK* August 30.2003 THROUGH Septernter 30.2003 ACCOUNT NUMBER Trades Executed Pending Settlement TAXPAYER MASER On File LAST STATEMENT August 29,2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESORPTION SY1A3WOUSIP CAMNTITY Pau DEBIT AMOUNT CRECfr MIDUNT 10/15/03 09/30/03 LH M LAN MT 3.489.227.00 82.3125 2,872,070.30 SERIES 223 CLASS PO I BS 10/15/03 09/03/03 BOUGHT FNMA-30YRIFNMAIGTD SETT,10/03 NMI 65.000.000.00 98.4062 63.964.062.50 05,600% BS 10/15/03 09/04/03 SOLD FNMA-30YRIFNMAIGTD SETT,10/03 MIN -15.000.000.00 98.9687 14.845.312.50 05,600% BS 10/15/03 09/05/03 SOLD FNMA-30YRIFNMAIGTD -10.000.000.00 99.5312 9.953.125.00 sErr.toroa BS 10/15/03 09/05/03 SOLD FNMA-30YRIFNMAIGTD -10.000.000.00 99.5312 9,953,125.00 SETT,10/03 05,500% BS 10/15/03 09/05/03 CANCEL SELL FNMA-30YRIFNMA)GM SETT,10/03 Milli -10.000.000.00 99.5312 9,953,125.00 05.500% BS AS OF TOTAL $76.789,257.80 $34.751.562.50 The above vorlos et not am:Armory oihot soDko of Mu staioroone 027 10/01103;10:M 001 Y813 EFTA00195670 CLEARED IHRCUGH ITS yrisCALY 0WLE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SEWN. SOCuntl Corp. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Coo Metrolech Confer North Becciorn. New Toes 112013559 STEARNS FINANCIAL TRUST CO INC STATEMENT PER100 Jul/ 26.2003 ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSIIE vomv.bearstearns.com THROUGH August 29.2003 ACCOUNT NUMBER What's In This Statement II TAXPAYER NUMBER On File LAST STATEMENT JO 25. 2003 Financial Summary 3 FINANCIAL TRUST CO INC CAD JEFFREY EPSTEIN Your Portfolio Holdings 4 6100 RED HOOK QUARTER Transaction Detail STE B3 Trades Not Yet Settled 13 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio Important Message Bear Stearns is pleased to Cash S Egavalent 7:5: 1.555 announce our conversion to TOTAL VALUE OF SECURITIES THIS PERIOD 13,626,053 a calendar month-end LONG ACCRUED INTEREST 210,286 Fixed 13.626.053 statement. Effective Income $18.500.041 September 2003.your NET CREDIT BALANCE 244 account statement will Current market YAue reflect all activity and NET EQUITY THIS PERIOD account valuation up to and $13,836,583 NM Lest statements market value including the last business day of the month. NET ECCITY LAST STATEMENT 19,252,646 CHANGE SINCE LAST STATEMENT -5,416,063 There are no 'Stop Loss' orders or other pending buy or sell open orders on tile for your account. mod,I lb. Penn 11 Er enhooal proms **IBM rankled molar &Pan Trss staternora should Demeaned for your records Soo mono two far rrporlan sitcarani 027 053003:13:15 001 V812 EFTA00195671 CLEARED 1HROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, t4,1 COO. Ceol.letsolech Cantot North Broeklln• New Ye* 11201.3859 FINANCIAL TRUST CO INC 2 Or 14 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 083003:13:15 001 Y812 EFTA00195672 CLEARED 1HRWGH ITS niCkLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Best. SZeirns SON, 14,1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Nee York 10179 OtoMetsolech Conte North Beccidon. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC 3 4/ '4 STATEMENT PERKIO Jul/ 26. 2003 THROUGH August 29.2003 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER WESER On File THIS PERIOD mtS PERIOD YEAR TO DATE LAST STATEMENT Jul' 25. 2003 Opening Balance $531,555.12 Govt. Agency Int. 774,898.10 1126.965.15 Corp. Bond Int. 112.413.41 888,715.93 Securities Sold 37,638,376.55 Credit Balance Int. 41.58 803.30 Dividends/Interest 887.353.09 Reverse Repurchase Int. 3,376.55 16,060.93 Miscellaneous 529.666.62 Total $890,729.64 $8,032,545.31 Amount Credited $39,056,396.26 Bond Purchase Int. -50,156.82 Securities Bought -36,628,000.00 Repurchase Int. Exp. • -24,344.52 Miscellaneous -2,958.706.92 Amount Debited $-39.586.706.92 Portfolio Composition Net Cash Activity -531.310.66 CastilCash Equivalent 244 Closing Balance $244.46 Fixed Income 13.626,053 Your Portfolio Total $13,626,297 Allocation Cash Balance Summary OPEttliG CLOSING Margo 531,555.12 244.46 Net Cash Balance $531,555.12 $244.46 Fixed Income — 100% UntAvnlecl croons Canoe oat tniono, onto* Orr male voLee The olocom ;event'', is de•ued Icon to '0191A* motet rat), 01 ycv Mtn" 027 083003:13:15 001 V812 EFTA00195673 CLEARED THROUGH ITS vniCkLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirhs SOC,r44,1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mem:tech Cella NOM Beccidon. New Year 11201.3559 STEARNS FINANCIAL TRUST CO INC 4 STATEMENT PER•00 Jul' 26.2003 THROUGH August 29.2003 Your Portfolio Holdings ACCOUNT NUMBER CASH & CASH EQUIVALENTS TAXPAYER WESER On File LAST STATEMENT Ju// 25.2003 MARKET ESTILMIED CURPENT DESCRIPTION SYMBOLCUSIP DUMMY PRICE VALUE !ANS INCOME YELD CASH BALANCE 244 TOTAL CASH & CASH EQUIVALENTS $244 FIXED INCOME Government & Agency Obligations ACCT ACCRUED ESTSAME0 EANIFINI DESCWPTION SITSWCUSP TYPE DUMMY PRICE LURES VALUE MEREST ANNUAL INCOME YEW I14 FEDERAL HOME LOAN MTG CORP MRGN 13,761,373 10.2416 1.409.390 31,523 810,545 57.5103 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 0'2/1512032 5,890% FACTOR — .53468856 FEDERAL HOME LOAN MTG CORP MRGN 49.517,820 3.7670 1.865.312 19,260 495,178 26.5467 SERIES 2471 CLASS YT DATED DATE 06,07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.000% FACTOR - 49517821 FEDERAL HOME LOAN MTG CORP MRGN 24.924,367 11.2050 2.792.769 66,780 1.717.289 61.4905 SERIES 2488 CLASS SO DATED DATE 07/0802 BOOK ENTRY ONLY DUE 03/15/2032 1146 90% FACTOR - 4984 FEDERAL HOME LOAN MTG CORP MRGN 28.755.209 10.4299 2.999.138 65.864 1.693.682 56.4723 SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/1512032 5.890% FACTOR - .49848735 02/ 03 3:: 03.13:15 031 V512 EFTA00195674 CLEARED THRWGH ITS Y/HCALY CAM,E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szeirns S0OA4M1 GNP. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Cc* Metsciech Centec North aro:kW% New TA* I1201.3859 STEARNS FINANCIAL TRUST CO INC 5 c/ '4 STATEMENT PER100 AO/ 26.2003 THROUGH August 29.2003 Your Portfolio Holdings (continued) ACCCLINT NUMBER ■ TAXPAYER NUM3ER CM File LAST STATEMENT Au& 25. 2003 Government & Agency Obligations (continued) ACCT ACCRUED ESTIAME0 CURFEW DESCRPRON SYTA€CUCUSP TYPE OLMMITY PRICE MARKET VALUE MEREST ANNUAL INCOME Yap ON FEDERAL NATIONAL MTG ASSN MRGN 20,922,051 10.5000 2.196.815 13,692 1.232,309 56.0953 SERIES 2003.49 CLASS SW DATED DATE 04/30/03 BOOK ENTRY ONLY DUE 01/25,2033 5890% FACTOR — .86075034 Total Government& Agency Obligations $11,263,424 $197,119 $5.949.003 Corporate Bonds ACCT ACCRUED ESTIW.TED CURRENT DESCRMI1ON SIITABOUCUSP TYPE OLIMITIN PRICE Maurer VALUE WREST ANNUAL INCOME YELD I%1 FANNIE MAE CM0/SERIES 2002-82 MRGN 17,077,216 13.8350 2.362.629 13,167 1.185,159 50.1627 SK-I/O FLTR DATED DATE 10,0202 BOOK ENTRY ONLY DUE 10/26,2031 Ll t940% FACTOR — .6830 68 Total CorporateBonds $2.362.629 $13,167 $1.185.159 TOTAL FIXED INCOME $13.626.053 $210.286 M.134.162 YOUR TOTAL ACCRUED INTEREST $210.286 YOUR TOTAL ESTIMATED ANNUAL INCOME il,134.162 YOUR PRICED PORTFOLIOHOLDINGS $13.626.297 02? 063003:13:15 001 v812 EFTA00195675 CLEARED THRWGH ITS vn10UY 0HnE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC,M*1 GOTP Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Ore Mevelech Center North Beccidon. New Ye* I T2DI.3SS9 STEARNS FINANCIAL TRUST CO INC STATEMENT PERK* Jul/ 26. 2003 THROUGH August 29.2003 Transaction Detail ACCCUNT NUMBER TAXPAYER WESER On File INVESTMENT ACTIVITY LAST STATEMENT Jul/ 25.2003 SETTLEMENT IPADE DATE DATE "RANSACTVI DESORPTION $YM8O.GVSP PROF DEBIT AMOUNT MCC MAJUNT 08/07/03 JOURNAL FEDERAL HOME LOAN MTG CORP 5 SFRIES 2530 CLASS SE 1293 DUE 0915132 0915/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS VT MIS .8.957.000 1.000 DUE 03/15/32 PRINCIPAL REDUCTN 08-15-03 08/15103 PRINCIPAL FEDERAL HOME LOAN MTG CORP .892 SERIES 2471 CLASS VT 1.000 DUE 03/15/32 PRINCIPAL REDUCTN 08-15-03 08115/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP .5,201.000 SERIES 2483 CL SL 5.890 DUE 03.115132 PRINCIPAL REDUCTN 08-15-03 ow 5103 PRINCIPAL FEDERAL HOME LOAN MTG CORP .886 SERIES 2483 CL SI. 5.890 DUE 03/15132 PRINCIPAL REDUCTN 08-15-03 0915/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP .4.508.000 $FRIES 2488 CLASS SO 1890 DUE 03/15/32 rR1NCIPAL REDUCTN 08-15-03 08/15103 PRINCIPAL FEDERAL HOME LOAN MTG CORP .878 I: RIES 2488 CLASS SO J390 DUE 03/15/32 INCIPAL REDUCTN 08-15-03 0815/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP .2.496.000 SERIES 2526 CLASS SI 5.890 DUE 0915/32 PRINCIPAL REDUCTN 08-15-03 0815 03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -782 SERIES 2526 CLASS SI 5.890 DUE 0915/32 PRINCIPAL REDUCTN 08-15-03 07/ 03 32 03.13:15 001 V812 EFTA00195676 CLEARED THROUGH ITS yrisCALY GHT4E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BHP Steens SOPM*1 GNP. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Cep Metniech Cerra North Beoclrl1n. New Yak I1201.3659 STEARNS FINANCIAL TRUST CO INC STATEMENT PERM Jug 26.2003 THROUGH August 29.2003 Transaction Detail (continued) ACCCUNT NUMBER ■ TAXPAYER KAMER On FIIC INVESTMENT ACTIVITY (continued) LAST STATEMENT Jug 25.2003 SETTLEMENT TRADE DATE DATE TRANSACTION CESCRPTION STME10..CUSP CLAMP, oRGE DEBIT AMOUNT CROW SWUM 08/25/03 PRINCIPAL FANNIE MAE CMG/SERIES 2002-82 .000 -40 RJR K 950 DUE 10125/31 INCIPAL REDUCTN 08-25-03 08125/03 PRINCIPAL FANNIE MAE CMOISERIES 2002.82 -292 50 RJR .950 DUE 10/25/31 INCIPAL REDUCTN 08-25-03 08125/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN •1601.000 SERIES 2003-49 CLASS SW 5.900 DUE 01/25/33 PRINCIPAL REDUCTN 08-25-03 08/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN -520 SERIES 2003-49 CLASS SW 5,900 DUE 01/25/33 PRINCIPAL REDUCTN 08-25-03 TOTAL INTEREST DATE CESCRIPTION STIABOUCUSIP OUANTITY RATE 114/ CENT AMOUNT GREGG AMOUNT 07/28/03 AVG BAL 146.204AT 41.58 021 OFFICE INTEREST 0 08/15/03 FEDERAL HOME LOAN MTG CORP 1.0000 48,729.76 SHIES 2471 CLASS YT DUE 03/15/2032 1,000 INTEREST PAYMENT 08-15.03 08/15/03 FEDERAL HOME LOAN MTG CORP 5.8900 166,761.03 SERIES 2483 CL SL DUE 03/15/2032 5,890 INTEREST PAYMENT 08-15.03 027 C443603:13:15 001 11812 EFTA00195677 CLEARED THROUGH ITS YAIWY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 808f. SZeirns S0N, 14,1 Cal. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue OtoLlevalech Coals North Beccidon. New Ye* 11201.3859 STEARNS New York, New York 10179 FINANCIAL TRUST CO INC 8 c, •4 STATEMENT PERK* JuN 26.2003 THROUGH August 29.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER WESER On File INTEREST (continued) LAST STATEMENT Jul/ 25. 2003 DATE OESCRIPTION SYMBOL Cosa, OVANTITe RUE IN, DEBIT AMOUNT CREW AMOUNT 08/15/03 FEDERAL HOME LOAN MTG CORP 169,072.41 SERIES 2488 CLASS" : DUE 03/15/2032 .890 INTEREST PAYMENT -15.03 oavistos FEDERAL HOME LOAN MTG CORP 5.8900 79.842.71 SERES 2526 CLASS SI DUE 02/15/2032 5.890 INTEREST PAYMENT 08-15.03 ovtatos FEDERAL HOME LOAN MTG CORP 198.767.97 SERES 2530 CLASS „IE DUE 02/15/2032 .290 8-15 REPO PYMT 09125/03 FANNIE MAE CMCVSERIES 2002-82 112.413.41 SK-VO RTR DUE 10/25/2031 &360 INTEREST PAYMENT 25-03 08/25/03 FEDERAL NATIONAL MTG AWN 5.9000 111,724.22 SERIES 2003-49 CLASS SW DUE 0112512033 5.900 INTEREST PAYMENT 08-25.03 TOTAL 5887.353.09 REPURCHASE AND REVERSE REPURCHASETRANSACTIONS with Bear,Stearns& Co.Inc. SETTLEMENT TPA DATE CATE TRANSACTION DESCRPTION SAIDDL CUSII, CriANTur DEBIT AMOUNT CREDIT AMOUNT 07/29/03 JOURNAL ADP CD 4.185.000.00 FITM-PR 07/291 JOURNAL ADP CO FITM.PR MIK 11040,000.00 027 08.3003:13:15 001 EFTA00195678 CLEARED THROUGH DS vniotty °MED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szturns Soc.r.t.ti Dap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mevolech Car:1N North Beccidon. New VC* 11201.3559 STEARNS FINANCIAL TRUST CO INC 9 STATEMENT PERIOD Jul' 26. 2003 THROUGH August 29.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT Jul' 25.2003 SETTLEMENT TRACE DATE DATE TR/MACRON DESORPTION STMOCCCUSIP CcANNTY OW AMOUNT CREDIT AMOUNT 07/291 INTEREST ADP CD 1,256.66 DUE 12131. 25 07/30/03 JOURNAL ADP CD FITM-PR INS 3,880,000.00 07130.1 JOURNAL ADP CD 4.185.000.00 FITM-PR 071301 INTEREST ADP CD DUE 1213 25 MIN 84.86 07/31/03 JOURNAL ADP CD 3.000.000.00 FITM-PR 07/311 JOURNAL ADP CD 3.880.000.00 FITM-PR 07/311 INTEREST ADP CD 84.07 DUE 12(3 25 08/00/03 JOURNAL FEDERAL HOME LOAN mIG CORP -37.901.958 RIES 2530 CLASS SE K293 DU 1.7ARGN Al REPO AGR 07/ 03 32 0313:15 001 .812 EFTA00195679 CLEARED THROUGH ITS vasetlY OkM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Best. SZea'n5 SOCY'dMi GOO. Bear. Stearns 8 Co. Inc. BUR 383 Madison Avenue New YY New York 10179 CC* Metsclech Center North Brock/on. New Yuk I1201.3859 STURNS FINANCIAL TRUST CO INC to STATEMENT PER•00 Jul' 26. 2003 THROUGH August 29.2003 Transaction Detail (continued) ACCCLEIR NUMBER • TAXPAYER AMMER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) EAST STATEMENT Jul' 25.2003 SETTLEMENT TRADE DATE DATE TRANSACSON DescRyncei SYMEICCCUSIP PX.IANIITY DEBIT AMOUNT CREDIT AMOUNT 08/081. JOURNAL ADP CD 3.000.000.00 FITM-PR JOURNAL ADP CD 3,000,000.00 FrIM-PR JOURNAL ADP CD 3.000.000.00 FI114-PR oarostos JOURNAL ADP CD 3.765.000.00 ATM-PR OB 3&1 INTEREST ADP CD 464.17 DUE I 2i3 JOURNAL ADP CD 3.765.000.00 FrIM-PR 08J28/03 JOURNAL ADP CD 3,765,000.00 FITM-PR 08+28 JOURNAL ADP CD 3,765,000.00 FITM-PR ceravo3 JOURNAL ADP CD 5,000,000.00 FITM-PR 027 0830.03:13:15 001 V812 EFTA00195680 CLEARED THROUGH ITS wilekLY CAM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szeiree Secvehti GOrP. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mevolech Center NOM Beccidon. Nev. VC* 11201.3559 STEARNS FINANCIAL TRUST CO INC STATEMENT PERK* Jul' 26. 2003 THROUGH August 29.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT Jul' 25.2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESORPTION STMEIWCUSIP CcAMITY DEBIT AMOUNT CREDIT AMOUNT cern. INTEREST ADP CD 1,39896 DUE 12)31. 25 0829,1 JOURNAL ADP CD FMA-PR INS 5.000.000.00 08/29/03 JOURNAL ADP CD 5.000.000.00 FITM-PR 08?2911 JOURNAL ADP CD FITM-PR MIN 5.000.000.00 0829/03 JOURNAL ADP CD 5.033.000.00 FITM-PR 08/291 INTEREST ADP CD 95.83 DUE I2t3 25 $-36,628,000.00 $37.638,376.55 MISCELLANEOUS DATE LOAMY TRANSACTAN DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 07/29/03 JOURNAL FITM TO FITG 531,596.00 07/30/03 JOURNAL FITM TO FITG 1.856,257.00 07/31/03 JOURNAL FITM TO FITG 305,085.00 027 08,3000303:15 DOI Y812 EFTA00195681 CLEARED THROUGH RS meow, OME0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT este. Steens Ssepitiel OMR Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cc* Motown Comm North Beccioin. New Ye* 11201.3959 STEARNS FINANCIAL TRUST CO INC STATEMENT PERIOD Jug 26.2003 THROUGH August 29.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER AMMER On He MISCELLANEOUS (continued) LAST STATEMENT JuD 25.2003 DATE /43.9AY TRAMSACTITAI DESCRIPTION DENT AMOUNT CREPT MADUNT 08/01/03 JOURNAL ATM TO FITG 250,000.00 08/11/03 JOURNAL FITG TO FI1M 134,451.00 08/18/03 JOURNAL FEDERAL HOME LOAN MTG CORP 1309.46 SERIES 2471 CLASS YT 1,000 DUE 03+15/32 Pal TRNFR 08/19/03 JOURNAL JULY 03 SPEC CLEARING FEES 1,150.00 08/19/03 JOURNAL FEDERAL HOME LOAN MTG CORP 1309.46 SERIES 2471 CLASS Y1 1,000 DUE 03+15/32 PSI TRNFR 08/21/03 JOURNAL FEDERAL HOME LOAN MTG CORP 14,618.92 SERIES 2471 CLASS YT 1,000 DUE 03+15/32 PSI TRNFR AN. DUPE 08/27/03 JOURNAL FEDERAL NATIONAL MTG ASSN 380,596.70 TRIP MTG SEFUES 322 CI. PO 001 DUE 03+01/32 SI TRNFR TOTAL $-2.958.706.92 $529,666.62 027 08,30.131:13:15 001 Y612 EFTA00195682 CLEARED THRWGH ITS WHOLLY 0UnE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BOP. Steins SOP.P.t..1 COP Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cc* MetscIecn Cardp North Beccidon. New To* I1201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PEW.) Jul/ 26.2003 THROUGH August 29.2003 ACCOUXT NUMBER Trades Executed Pending Settlement TAXPAYER AMMER OR Pile LAST STATEMENT July 25.2003 SETTLEMENT TRADE DATE PATE TRANSACTION DESCRPTION SYMBOLCUSP cumany PRICE DEBIT AMOUNT MCP AMOUNT 09/15/03 06/17/03 FNMA-30Y NMA) 10,000,000.00 101.4687 10,146,875.00 SETT.09/03 05.000% BS 0915/03 08,04/03 SOLD FNMA-30YR(FNMA)GTD IIII1 -10.000.000.00 94.9843 9.498.437.50 SETT 09.03 05,030% BS 09115/03 07/07103 BOUGHT FNMA 30YR GTD 20.000.000.00 102.2500 20,450,000.00 SETT, 09x03 05.500% BS 09/15/03 07/28/03 BOUGHT FNMA 30YR GTD SETT, 09103 INN 10.000.000.00 100.1093 10,010,938.00 05.500% BS 09/15/03 07/28/03 BOUGHT FNMA 30YR GTD 10.000.000.00 100.1093 10,010,937.50 SETT, 09103 05.600% BS AS OF 09/15103 07/29/03 BOUGHT FNMA 30YR GTD 35,000,000 00 99.4843 34,819,53125 SETT, 09t03 05.500% BS 027 063003:13:15 001 V812 EFTA00195683 CLEARED THRWGH ITS YrisekLY CAMEO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Steams S0C.,44.1 GNP. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Ore Mem:leen Cella North Seccidon. New Yak 11201.3859 STEARNS FINANCIAL TRUST CO INC 14 vi T1 STATEMENT PERIOD Jul/ 26.2003 THROUGH August 29.2003 ACCOUNT NUMBER 1111111111111111111111 Trades Executed Pending Settlement (continued) TAXPAYER NUMBER On File LAST STATEMENT Jug 25. 2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCIIPTION Sr/A80-CUSP OUNWITY PRICE DEBIT AMOUNT CP£D.T NiCchT 09/15/03 07/28/03 CANCEL BUY FNMA 30YR MD 10,000,000.00 100.1093 10.010.938.00 SETT, 09103 05,500% BS AS OF TOTAL $85.438.281.75 $19.509.375.50 Netter, reds clo nol :mew in any other election of Inq StileirKet End of Statement 027 08,30.133:13:15 001 v812 EFTA00195684 CLEARED THRWGH ITS vrisC5LY OH5EO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beef. Srea•ns SO8,1581 C019 Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Cro1.1evoiech Corder North Beccioon. New Test 11201.3859 STEARNS FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE GNMA GOVT BOND STATEMENT ACRID° June 28.2003 VISIT OUR WEBSITE wenv.bearstearns.cOm THROUGH Jul/ 25.2003 ACCOUNT NUMBER What's In This Statement 1111,111111111111 II TAXPAYER AMBER On File LAST STATEMENT June 27.2003 Financial Summary 3 FINANCIAL TRUST CO INC 4 C/O JEFFREY EPSTEIN Your Portfolio Holdings 6100 RED HOOK QUARTER Transaction Detail STE B3 Trades Not Yet Settled 12 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equivalent 1 $531,565 TOTAL VALUE OF SECURITIES THIS PERIOD 18,500,041 $83,9.53 LONG ACCRUED INTEREST 221,050 Abed 8.500.041 Income $19.744.476 NET CREDIT BALANCE 531,555 Current market Sue NET EQUITY THIS PERIOD $19,252,646 ME Last statement's market value NET EOUITY LAST STATEMENT 20,131,089 CHARGE SINCE LAST STATEMENT -878,443 There are no 'Stop loss' orders or other pending buy or sell open orders on tile for your account. Slit TN' 518mITYRioroT0rm82O1819floses oriy It Is 8:4 ilended emu Ocean Tres staternerc should be retailed for your records See revers* ode for modem Scemacnet 027 1)7/2803:10:09 001 Yell EFTA00195685 CLEARED 1HROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, 14,1 COO. Ceol.letioloch Cantot North Broeklln• New Volt 11201.3859 FINANCIAL TRUST CO INC 2 el 12 STATEMENT BACKER IS PRINTED ON THIS PAGE 021 074103:10:09 001 11811 EFTA00195686 CLEARED THROUGH ITS YmCUY OW•E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szowns Soorther Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 OtoLleboItch Contec North eeccidon. New Ye* 11201.3859 STEARNS FINANCIAL TRUST CO INC 3 ci STATEMENT PERIOD June 28.2003 THROUGH Jul/ 25.2003 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER AILIUSER On File DC PERIOD YEAR TO DATE THIS PERICO LAST STATEMENT June 27.2003 Opening Balance Govt. Agency Int. 834.952.46 1.352.067.05 $83,953.25 Corp. Bond Int. 122,918.54 776,302.52 Secudties Sold 57,559,955.57 Credit Balance Int. 175.83 761.72 Dividends Interest 958,046.83 Reverse Repurchase Int. 2.119.97 12,684.38 Miscellaneous 10,330.47 Total $960,166.80 141,815.67 Amount Credited $58,528 Bond Purchase Int. -50,156.82 Securities Bought -57,908,750.00 Repurchase Int. Exp. -24,344.52 Funds Withdrawn -77.381.00 Miscellaneous -94.600.00 Amount Debited $-58.080.731.00 Portfolio Composition CastilCash Equivalent 531.555 Net Cash Activity 447.601.87 Fixed Income 18.500.041 ClosingBalance $531.555.12 Your Portfolio Total 319.031.596 Allocation Cash Balance Summary OFtteta3 CLOSING Margin 83.953.25 531.555.12 Net Cash Balance $83.953.25 $531,555.12 UnsPa0atl portions dem* debt bane, any steal market vacs. he alocabon percemrt Ormed Item to absolute marital value of Kr, palioo 027 074103:10:09 001 Y811 EFTA00195687 CLEARED THRWGH ITS WIIOUY OW,E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZetrns SON, 14,1 Cory. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 OTC Mem:tech Centec NOM BredCon. New Year 11201.3859 STEARNS FINANCIAL TRUST CO INC 4 STATEMENT PERK* June 28.2003 THROUGH Jul/ 25.2003 Your Portfolio Holdings ACCOUNT NUMBER CASH & CASH EQUIVALENTS TAXPAYER MASER On File LAST STATEMENT June 27.2003 IMPXEI ESTIMATED CURRENT DESORPTION SYMBOLCUSIP DUMMY PRICE vALuE ANNUAL INCOME YELD CASH BALANCE 531.555 TOTAL CASH & CASH EQUIVALENTS 5531555 FIXED INCOME Government & Agency Obligations ACCT ACCRUED ESTIAME0 CURFGVr DESCASTION SITSOUCUSP TYPE OUORITY PRICE MARKET VALLE MEREST ANNUAL INCOME yEtDDLI FEDERAL HOME LOAN MTG CORP MRGN 37.901,953 9.6816 3.669.527 66,258 2,385,170 64.9994 SERIES 2530 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY DUE 02/15/20326113283% FACTOR — .631 FEDERAL HOME LOAN MTG CORP MRGN 16.258.155 9.5702 1.555.931 26,612 958.093 61.5768 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5.893% FACTOR - .63169930 FEDERAL HOME LOAN MTG CORP MRGN 58.475.712 3.7118 2.170.484 16.240 584.757 26.9413 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.000% FACTOR - .58475713 FEDERAL HOME LOAN MTG CORP MRGN 29,433.245 10.1225 2.979.394 56.355 2.028.834 68.0955 SERIES 2488 CLASS SO DATED DATE 07/08102 B001( ENTRY ONLY DUE 03/1S/2032 j i 893% FACTOR - .6886 92 027 D7;2601:10:09 001 Y1111 EFTA00195688 CLEARED THROUGH ITS ?RIMY OW,E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, 14,1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Ore Mevolech CarrIN North BecciOon. New Ye* I1201.38S9 STEARNS FINANCIAL TRUST CO INC 5 I !rt STATEMENT Puna.) June 28.2003 THROUGH Jul/ 25.2003 Your Portfolio Holdings (continued) ACCOUNT NUMBER ■ TAXPAYER NUO3ER On File LAST STATEMENT June 27.2003 Government & Agency Obligations (continued) ACCT ACCRUED ESTIAMED CURFEW DESCRPTIOH SMEOLCUSP TYPE DUMMY PRICE MARKET VALLE MEREST ANNUAL INCOME Yap 04 FEDERAL HOME LOAN MTG CORP MRGN 33.957.095 9.6934 3.291.586 55,585 2.001,092 60.7942 SERIES 2483 CL SL DATED DATE 0710202 BOOK ENTRY ONLY DUE 03/15(2032 5893% FACTOR — .56866491 FEDERAL NATIONAL MTG ASSN MRGN 22.723.571 10.0781 2.290.110 1.355.461 59.1876 SERIES 2003 49 CLASS SW DATED DATE 04/30/03 BOOK ENTRY ONLY DUE 01/26.2033 5.965% FACTOR — .93486634 Total Government& Agency Obligations $15.957.032 $221,050 69.313.407 Corporate Bonds ACCT ACCRUED ESTMAIE0 CURFEM CISCrarnON S`TASCLCUSP TYPE QUANTITY PRICE MARKET VALLE INTEREST ANNA/ INCOME YEW IV4 FANNIE MAE CMO/SERIES 2002-82 MRGN 19.409,508 13.1019 2.543.009 1.361,577 53.5420 SK-ItO FLTR DATED DATE 100202 BOOK ENTRY ONLY DUE 10/25120311015$ FACTOR — .7763 36 Total CorporateBonds 82.543.009 $1,361,577 TOTAL FIXED INCOME $18.500.041 $221,050 $10.674.984 YOUR TOTAL ACCRUED INTEREST $221.050 YOUR TOTAL ESTIMATED ANNUAL INCOME $10.674.984 YOUR PRICED PORTFOLIOHOLDINGS $19.031.596 027 074103:10:09 001 Y811 EFTA00195689 CLEARED THRWGH ITS CAMEO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirhs SOC,r44,1 Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 0-41km:tech Cella NOM Beccidon. New VC* 11201.3$S9 STEARNS FINANCIAL TRUST CO INC STATEMENT PERIOD June 28.2003 THROUGH Jul/ 25.2003 Transaction Detail ACCOUNT NUMBER TAXPAYER KUMMER On File INVESTMENT ACTIVITY LAST STATEMENT June 27.2003 SETTLEMENT TRADE DATE DATE -RANSACTION DESCRIPTION SYMOWCUSP °mann Pula OWE AMOUNT MDR AMOUNT 07/08/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN -289,086 IP MTG SERIES 322 CL PO k 1 DUE 03/01/32 INCIPAL REDUCTN 07-25-03 07/14/03 07/07/03 CANCEL SELL FNMA-30YR(FNMATGID 20,000,000 102.93750 20,587,500.00 SE T,07103 05,500% BS AS OF TO CM. PREVIOUS SELL 07/14/03 06/05/03 BOUGHT FNMA-30YRIFNMATGID 20.000.000 103.40625 20.681.250.00 SE T,07103 BS 07/14/03 07/07/03 SOLD FNMA-30YRIFNMATGID -2a000.000 102.93750 20.587.500.00 SE T,07103 BS 07 14 03 06/05/03 CANCEL BUY FNMA-30YRIFNMAJGTD -20.000.000 103.40625 20.681.250.00 SE T,07103 05.500% BS AS OF TO CM. PREVIOUS BUY 07/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -5,365,000 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 07-15-03 07/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -251 SERIES 2471 CLASS YT 1,000 DUE 03/15132 PRINCIPAL REDUCTN 07-15-03 027 074103:10:09 001 YST1 EFTA00195690 CLEARED THRWGH ITS witCkLY CAM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beet SZeirhs SOC,r44,1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 0 -414cm:tech Contet North Beccidon. New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERK* June 28.2003 THROUGH Jul/ 25.2003 Transaction Detail (continued) AGLOW! NUMBER ■ TAXPAYER NUMBER OR File INVESTMENT ACTIVITY (continued) LAST STATEMENT June 27.2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION STIA3OLCUSIP OtAINMY ',FEE DEW AMOUNT CHEM MOM 07/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -3.665.000 SERIES 2483 CL SI. 5.893 DUE 03/15/32 PRINCIPAL REDUCTN 07-15433 07/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -440 SERIES 2483 CL SL 5.893 DUE 03/15/32 PRINCIPAL REDUCTN 07-15-03 07/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -3,177,000 FRIES 2488 CLASS SO .893 DUE 03/15/32 INCIPAL REDUCTN 07-15-03 07/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -121 RIES 2488 CLASS SO K .893 DUE 03/15/32 INCIPAL REDUCTN 07-15433 07/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -3.772,000 FRIES 2530 CLASS SE .293 DUE 02/15132 INCIPAL REDUCTN 07-15-03 07/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -370 SERIES 2530 CLASS SE 93 DUE 02/15/32 INCIPAL REDUCTN 07-15-03 07/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP 1.618.000 SERIES 2526 CLASS SI 5.893 DUE 0'2/15/32 PRINCIPAL REDUCTN 07-15-03 07/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -169 SERIES 2526 CLASS SI 5,893 DUE 02/15/32 PRINCIPAL REDUCTN 07-15433 07/25/03 JOURNAL FEDERAL NATIONAL MTG ASSN 1 IP MTG SERIES 322 CL PO LT IO1DUE 03/01,32 JUST POSITION 027 COMBOS:IR:09 001 Yell EFTA00195691 CLEARED THRWGH nS vn10LLY 0%M.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirn5 SON, t4,1 Cory. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 0 -41km:tech Centet North eeccidon. New Ye* 11201.3859 STEARNS FINANCIAL TRUST CO INC 8 v, !rt STATEMENT PERIOD June 28.2003 THROUGH Jul/ 25.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER MASER 011 Flk INVESTMENT ACTIVITY (continued) LAST STATEMENT June 27.2003 SETTLEMENT TRADE DATE DATE TRANSACTION OESCRETION STMEIO.CuSP CAJANTIr, PRCE DEER AMOUNT CREPT AhlOUNT 07/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN 289,085.60 IP MTG SERIES 322 CL PO k 1 DUE 03/01/32 INCIPAL PAYMENT 07-25-03 07/25/03 PRINCIPAL FANNIE MAE CMCVSERIES 2002-82 RTR Miff -1.617.000 015 DUE 10/25/31 INCIPAL REDUCTN 07-25-03 07/25/03 PRINCIPAL FANNIE MAE CMOSERIES 2002-82 -183 RTR R015 DUE 10/25/31 P■ INCIPAL REDUCTN 07-25-03 07/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN -1,124,000 SERIES 2003-49 CLASS SW 5,965 DUE 01/25133 PRINCIPAL REDUCTN 07-25-03 07/26/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW Miff -371 5,965 DUE 01125/33 PRINCIPAL REDUCTN 07-25-03 TOTAL $.41.268.750.00 $41.557.835.60 DEPOSITS AND WITHDRAWALS DATE TRANSACTION DESCRIrICH DEBIT AMOUNT CREDIT AMOUNT 07/02/03 FND WIRED WIRED TO 77.381.00 811 TOTAL $-77,381.00 027 074103:10:09 001 Y811 EFTA00195692 CLEARED THROUGH ns vngsly OME0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 808r. SZeirns S0C,r.t.t1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cr.* Mem:tech Contec North Beccidon. New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC 9 vi !2 STATEMENT Puna() June 28.2003 THROUGH Jul/ 25.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER OR FM INTEREST LAST STATEMENT June 27.2003 DATE DESCRFTION SYMECLCJSIP QUANTITY RATE IN; DEBIT AMOUNT 01ED0 AMOUNT 06/30/03 AVG BAL 447,172RT01. 175.83 021 OFFICE INTEREST 07/15/03 FEDERAL HOME LOAN MTG CORP 1.0000 45,891.34 SERES 2471 CLASS YT DUE 03/15/2032 1.000 INTEREST PAYMENT 07-15.03 07/15/03 FEDERAL HOME LOAN MTG CORP 5.8930 182,469.29 SERES 2483 CL Si. DUE 03/16/2032 5893 INTEREST PAYMENT 07-15-03 07/15/03 FEDERAL HOME LOAN MTG CORP 185.335.56 SERES 2488 CLASS $0 DUE 03/15/2032 893 INTEREST PAYMENT -15-03 07/15/03 FEDERAL HOME LOAN MTG CORP SERES 2530 ClASSIT Mill 216.011.94 DUE 02/15/2032 293 INTEREST PAYMENT -15-03 07/15/03 FEDERAL HOME LOAN MTG CORP 5.8930 86.700.17 SERES 2526 CLASS SI DUE 02/15/2032 5,893 INTEREST PAYMENT 07-15.03 07/25/03 FANNIE MAE CMG/SERIES 2002-82 SK-1/0 RTR NMI 122318.54 DUE 10/25/2031 015 INTEREST PAYMENT -25-03 07/25/03 FEDERAL NATIONAL MTG ASSN 5.9650 118.544.14 SERES 2003-49 CLASS SW DUE 01/25/2033 5.965 INTEREST PAYMENT 07-25-03 TOTAL 5958.046.83 027 074103:10:09 001 EFTA00195693 CLEARED IHRCOGH ITS voseklY CAM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Best. SZetrns SON, I*1 COO. Bear. Stearns 8 Co. Inc. BUR 383 Madison Avenue New YY New York 10179 CCALlevelech Cent« NOM Ofecidon. New vax I1201.38S9 STURNS FINANCIAL TRUST CO INC 10 STATEMENT PERK* June 28.2003 THROUGH JO/ 25.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS LAST STATEMENT June 27.2003 with Bear,Stearns& Co.Inc. SETTLEMENT TRADE DATE DATE TRANSACTION DEZCFP-ICII STAIEICCCUSIP QUANTITY DEBIT AMOUNT CREDIT AMOUNT 07/11/03 JOURNAL FEDERAL NATIONAL MTG ASSN -599.843 MTG SERIES 322 CL PO COat Du RGNIall Al REPO AGR 07/11/03 JOURNAL ADP CD 5.300.000.00 FITM-PR 07/11/1 JOURNAL ADP CD 5.400.000.00 FI114-PR 07/11111 INTEREST ADP CD 1,429.50 DUE 1213 25 07/181 JOURNAL ADP CD 5.300.000.00 FiTM-PR 07/18/03 JOURNAL ADP CD 5.300.000.00 FILM-PR 0711811 JOURNAL ADP CD 5.300.000.00 ATM-PR 07/18/03 JOURNAL ADP CD 4040,000.00 FiTMPR 027 074103:10:09 001 Yell EFTA00195694 CLEARED THRWGH ITS wisCeLY OHnE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SHerns SOCeent1 COP. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cc* Mosolon Canto North Betatron. New Toe 11201.3859 STEARNS FINANCIAL TRUST CO INC 11 • STATEMENT PERK.° June 28.2003 THROUGH Juk 25. 2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT June 27.2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRPRON STMOWCUSIP WINTITY DEBIT AMOUNT CREDIT AMOUNT 07/18. INTEREST ADP CD 690.47 DUE 12/3 07/24/03 JOURNAL FEDERAL NATIONAL MTG ASSN 599.843 MTG SERIES 322 CL PO 001 CA RGN A2 TERM NT 07/24/03 JOURNAL FEDERAL NATIONAL MTG ASSN -2.999.217 MTG SERIES 322 CL PO 001 OU RGNIII Al REPO AAR 07/24/03 JOURNAL FEDERAL HOME LOAN MTG CORP 8,771,356 SERIES 2471 CLASS YT 1,000:1pAll FITMARGN A2 TERM NT $-16.640.000.00 $16,002,119.97 MISCELLANEOUS DATE MOON( TRANSACTel DESCRIPRON DEM AMOUNT GRECO Ab10551 07/11/03 JOURNAL FNMA-30YR(FNMA)GTO 93.750.00 SETT,07/03 5,500 DUE 07101/33 MBS NET 07/11/03 07/14/03 JOURNAL JUNE 03 SPEC CLEARING FEES 850.00 07/16/03 JOURNAL FEDERAL HOME LOAN MTG CORP 8.098.47 SERIES 2471 CLASS TT 1,000 DUE 03/15/32 PSI TRNFR 027 074103:10:09 001 11811 EFTA00195695 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 York, New York 10179 OtoMetsolech Contet North Beccidon. New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC 12 r! T2 STATEMENT PERIOD June 28.2003 THROUGH Jul/ 25.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER WESER On File MISCELLANEOUS (continued) LAST STATEMENT June 27.2003 DATE MOM TIUNSACTCN DESCRIPTION DEBT AMCV/41 CREPT AMOUNT 07/21;03 JOURNAL FITG TO FITM 2.232.00 TOTAL $.94.600.00 $10.330.47 Trades Executed Pending Settlement SETTLEMENT TRADE DATE DATE TRANSACTION OESCP.PlION SY/AGO-CUSP C DEGT AMOUNT CP1041 MAOUINI 09/15/03 06/17/03 BOUGHT FNMA-3OYR(FNMA)GTD 10.000.000.00 101.4687 10.146.875.00 SETT.09/03 05.000% BS 09/15/03 07/07/03 BOUGHT FNMA 3OYR GTD 20.000.000.00 102.2500 20,450,000.00 SETT. 0943 05.500% BS TOTAL $30.596.875.00 The ate nom et OM W.O04/ In .vr, cm. sonio, al Inc state End of Statement 027 074103:10:09 001 Y811 EFTA00195696 CLEARED THROUGH HS wisCELY CA11.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Best. Szeiros Sodrint1 000. BEAR Bear. Stearns & Co. Inc. Ore Meaciech Canto North 383 Madison Avenue Becdoon, New Ts* 112012850 STEARNS New York New York 10179 FINANCIAL TRUST CO INC STATEMENT PER100 May 31.2003 ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSITE vnwe.bearsteams.cOm THROUGH June 27.2003 ACCOUNT NUMBER What's In This Statement 11111111111111111 II TAXPAYER AV1A3ER On File LAST STATEMENT May 30.2003 Financial Summary 3 FINANCIAL TRUST CO INC Your Portfolio Holdings 4 C/O JEFFREY EPSTEIN 6100 RED HOOK QUARTER Transaction Detail STE B3 Trades Not Yet Settled 13 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equivalent 1 $83.953 TOTAL VALUE OF SECURITIES THIS PERIOD 19,744,476 $126,074 LONG ACCRUED INTEREST 302,660 Abed 476 Income $23.876.335 NET CREDIT BALANCE 83,953 Current market value NET EQUITY THIS PERIOD $20,131,089 SI Last statement's market value NET EQUITY LAST STATEMENT 24,422,603 CHANGE SINCE LAST STATEMENT -4,291,514 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Ate. Tin PanIP/ 11 oftemBLHABI prawn only I Is ratearsled as Tin staternarc should be maned for your records See roverct Wa he mortar/ neconatol 027 062603:11:38 001 V808 EFTA00195697 CLEARED 1HROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, t4,1 COO. Ceol.letsolech Cantot North Broeklln• New Volt 11201.3859 FINANCIAL TRUST CO INC 2 oi la STATEMENT BACKER IS PRINTED ON THIS PAGE 027 D82803:11:38 001 Y808 EFTA00195698 CLEARED 1HRWGH ITS ?AIM? 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Screams SON, 14,1 Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Nev York, Nee York 10179 OtoMetsolech Conte North Becci0on. New Year 11201.3859 STEARNS FINANCIAL TRUST CO INC 3 O STATEMENT PERK* May 31.2003 THROUGH June 27.2003 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER WESER Ofl File DC PEW° YEAR TO DATE THIS PERICO LAST STATEMENT May 30.2003 Opening Balance $128,074.40 Govt. Agency Int. 872,169.36 5.517.114.59 Corp. Bond Int. 122,709.53 653,383.98 Securities Sold 82,874,936.25 Credit Balance Int. 213.46 585.89 Dividends/Interest 995,092.35 Reverse Repurchase Int. 1,320.35 10,564.41 Miscellaneous 494,356.75 Total $996,412.70 •,181,648.87 Amount Credited $84,364,385.35 Bond Purchase Int. -50,156.82 Securities Bought Repurchase Int. Exp. -24,344.52 -84,399,062.25 Miscellaneous -9.444.25 Amount Debited $-84 408 506.50 Portfolio Composition Net Cash Activity 44.121.15 CastilCash Equivalent 83.953 ClosingBalance $83,953.25 Fixed Income 19.744.476 Your Portfolio Total $19,828,429 Allocation Cash Balance Summary OPEN AG CLOSING Cash & Equrealent <1% Margo 128.074.40 83.953.25 Net Cash Balance $128.074.40 $83,953.25 — Fixed Income 99% UnWooecl croons acne* oat beano* onto' Or, male vela, The elect' ;event'', ty oa•ueo Icon to '0191A* motet rat), 01,ev patio" 027 062603:11:3S 001 Y808 EFTA00195699 CLEARED THRWGH ITS OW,E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, t4,1 co( . Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mon:tech Car:Ng North Beccidon. New Ye* 11201.3859 STEARNS FINANCIAL TRUST CO INC 4 STATEMENT PERK* May 31.2003 THROUGH June 27.2003 Your Portfolio Holdings ACCOUNT NUMBER CASH & CASH EQUIVALENTS TAXPAYER WESER On File LAST STATEMENT May 30.2003 IMPKET ESTIMAIED CURRENT DESCRPDON SYMBOLCUSIP OUANDTY PRICE VALUE PANUAL INCOME YELD CASH BALANCE 83.953 TOTAL CASH & CASH EQUIVALENTS $83.953 FIXED INCOME Government & Agency Obligations ACCT ACCRUED ESTEIME0 CURFOR DESCASTION SITSOUCUSP TYPE OUANTITY PRICE MARKET VALLE MEREST ANNUAL INCOME YEW FEDERAL HOME LOAN MTG CORP MRGN 41.674,323 8.0453 3.352.813 86,406 2.592,143 77.3125 SERIES 2530 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY DUE 0'2/15/2032 A220% FACTOR — .6945 14 FEDERAL HOME LOAN MTG CORP MRGN 17.876,324 8.1907 1.464.201 34,681 1.040,402 71.0560 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5.820% FACTOR - .69457214 FEDERAL NATIONAL MTG ASSN MRGN 3.288.302 92.7109 3.048.616 2 33 STRIP MTG SERIES 322 CL PO DATED DATE 03101/02 BOOK ENTRY ONLY DUE 03/01/2032 .001% FACTOR - 1.00000000 FEDERAL HOME LOAN MTG CORP MRGN 55.069.607 2.6940 1.483.592 18.351 550.696 37.1191 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03115/2032 1.000% FACTOR - .64787773 02/ DE 28 03.11:M 001 Y808 EFTA00195700 CLEARED IHRWOH ITS niCkLY OW,E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, 14,1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Ore Metselech Centet North BecciOon. New Ye* I1201.313S9 STEARNS FINANCIAL TRUST CO INC 5 vi STATEMENT PERK* May 31.2003 THROUGH June 27.2003 Your Portfolio Holdings (continued) AccouNT NUMBER ■ TAXPAYER NUO3ER OR File LAST STATEMENT May 30.2003 Government & Agency Obligations (continued) ACCT ACCRUED ESTRUM ° CURREN' DESCRPTION SITS3OLCUSP TYPE °VANITY PRICE MARKET VALLE MEREST ANNUAL INCOME TELD IK4 FEDERAL HOME LOAN MTG CORP MRGN 32.610.366 2.598.645 74,135 2.224.027 85.5841 SERIES 2488 CLASS SO DATED DATE 07;0&02 BOOK ENTRY ONLY DUE 03/15(2032 1 1820% FACTOR - .6522 33 FEDERAL HOME LOAN MTG CORP MRGN 37.622.535 8.2122 3.089.646 72.988 2.189,632 70.8700 SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2032 5.820% FACTOR - .65220732 FEDERAL NATIONAL MTG ASSN MRGN 23.847.942 9.9844 2.381.068 1,902 1,422,530 59.7434 SERIES 2003-49 CLASS SW DATED DATE 04/30103 BOOK ENTRY ONLY DUE 01/25/2033 5.965% FACTOR — .98112390 Total Government& Agency Obligations $17.418.581 $294.465 $10.019.463 Corporate Bonds ACCT ACC ESTIM1ED CORN30 DESCRPRON SYM3OLCUSP TYPE GUMMY PRIDE MARKET VALLE 1111EFEST RUED ANMJAL INCOME YEW ON FANNIE MAE CMO/SERIES 2002-82 MRGN 21.026,691 11.0616 2.325.895 8,195 1.475,022 63.4174 SK-I/0 FLTR DATED DATE 10/02/02 BOOK ENTRY ONLY DUE 10/25/2031j015% FACTOR - .841 69 Total CorporateBonds $2.325.895 $8,195 $1,475,022 TOTAL FIXEDINCOME $19.744.476 $302,660 $11.494.485 027 CE.28D3:I 1:18 001 Y808 EFTA00195701 CLEARED THROUGH IM vAgX1Y OH5E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szea•ns S00,44,1 CUP. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Cc* Metniech Cantu NOM Betatron. New Tux 11201.3859 STEARNS FINANCIAL TRUST CO INC I STATEMENT PERIOD May 31.2003 THROUGH June 27.2003 ACCOUNT NUMBER TAXPAYER NUMBER On PM LAST STATEMENT May 30.2003 Your Portfolio Holdings (continued) YOUR TOTAL ACCRUED INTEREST $302.660 YOUR TOTAL ESTIMATED ANNUAL INCOME $11.494.485 YOUR PRICEDPORTFOLIOHOLDINGS $19.828,429 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE DATE TRANSACTION °ESC:PTION STAMOLCUMP CUMRITY PRICE OEM AMOUNT CREPT AMOUNT 06/09/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN -240.643 K IP MTG SERIES 322 O. PO 11 DUE 03/01/32 INCIPAL REDUCTN 06-25-03 06/09A13 PRINCIPAL FEDERAL NATIONAL MTG ASSN -245,158 IPS SERES 326 CLASS 1 PO tr2 01 DUE 07/01/32 INCIPAL REDUCTN 06-25-03 06/12/03 06/10/03 SOLD FEDERAL NATIONAL MTG ASSN -3.561.835 95.14063 3.388.752.75 STRIPS SERES 326 CLASS 1 PO 00,001% BS 06/12/03 05/07/03 BOUGHT FNMA-30YRLENMALGTO 20.000.000 102.71875 20.543.750.00 SETT.06 03 027 OS28.0311:38 001 V808 EFTA00195702 CLEARED IHRWOH ITS ?RIMY 0%M.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns S0N, t4,1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Dec Metsolech Car:Ng North Beccidon. New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERK* May 31.2003 THROUGH June 27.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER WIDMER OR File INVESTMENT ACTIVITY (continued) LAST STATEMENT May 30.2003 SETTLEMENT TRADE DATE DATE TRANSACT/DTI DESCRIPTION STLIBOLCUISC QUANTITY PRICE DEBrr AMOUNT MUM MOUNT 06/12/03 06/05/03 CANCEL SELL FNMA-30YR(FNMA)GTD 20,000,000 103.73828 20,747,656.00 SETT,06103 05,500% BS AS OF TO CM. PREVIOUS SELL 06/12/03 06/05103 CANCEL SELL FNMA-30YRIFNMAIGTD 20.000.000 103.73828 20.747.656.25 SETT,06/03 05,500% BS AS OF TO CM. PREVIOUS SELL 0612103 05107103 CANCEL BUY FNMA-30YR(FNMA)GTD -20,000.000 102.71875 20.543.750.00 SSR.0643 05,500% BS AS OF TO CM. PREVIOUS BUY 06/12/03 06/05/03 SOLD FNMA-30YRIFNMAJOID -20.000,000 103.73828 20.747.656.00 SETT,06103 05,500% BS 06/12/03 06/05/03 SOLD FNM-30YR(FNkiLA)STD 20.000.000 103.73828 20.747.656.25 SETT.06,[03 06,500% BS AS OF 06/13/03 JOURNAL FEDERAL NATIONAL MTG ASSN STRIPS SERES 326 CLASS 1 PO EU l DUE 07/01/32 ST POSITION 021 CC 28 03.11:M 001 ve0e EFTA00195703 CLEARED THROUGH ITS witCkLY CAM.EO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirhs SOC,r44,1 Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 0 -41km:tech Cella North Beccidon. New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC 8 vi STATEMENT PERK* May 31.2003 THROUGH June 27.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER KUMMER OR File INVESTMENT ACTIVITY (continued) LAST STATEMENT May 30.2003 SETTLEMENT TRADE DATE DATE TRANSACTION OESORPTION STIA3OLCUSIP CAAV4MY PRCE DEBIT AMOUNT MOTT MOUNT 06/16/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -4,391,000 SERIES 2471 CLASS VT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 06-15-03 08/16/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -293 SERIES 2471 CLASS VT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 06-15-03 06/16/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -3.000.000 SERIES 2483 CL SL 5,820 DUE 03/15/32 PRINCIPAL REDUCTN 06-15-03 06/16/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP •48 SERIES 2483 CL SL 5,820 DUE 03/15/32 PRINCIPAL REDUCTN 06-15-03 06/16/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP 2.600.000 SERIES2488 CLASS SO ,820 DUE 03/15/32 INCIPAL REDUCTN 06-15-03 06/16/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -374 SERIES 2488 CLASS SO 820 DUE 03/15/32 INCIPAL REDUCTN 06-15-03 06/16/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP 3.149.000 SERIES 2530 CLASS SE R .090 DUE 02/15/32 INCIPAL REDUCTN 06-15-03 06/16/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -158 SERIES 2530 CLASS SE 090 DUE 02/15132 INCIPAL REDUCTN 06-15-03 06,16,03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -1,350,000 SERIES 2526 CLASS SI 5.820 DUE 02/15132 PRINCIPAL REDUCTN 06-15-03 027 CO.28,03.11:38 OW Y808 EFTA00195704 CLEARED THRWGH ITS YrileklY CAMEO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirn5 SON, t4,1 COP Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Cc* Mevolech Contp North eeccidon. New Ye* I I2DI.OSS9 STEARNS FINANCIAL TRUST CO INC 9 0 STATEMENT PERK* May 31.2003 THROUGH June 27.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER WIPER OD File INVESTMENT ACTIVITY (continued) LAST STATEMENT May 30.2003 SETTLEMENT TRADE DATE DATE TRANSACTION OESCRPTION SO.1130..CUSP OtjANTIr, PRCE DEBIT AMOUNT GRECO MIDUNr 06/16/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP •840 SERIES 2526 CLASS SI 5.820 DUE 02/15/32 PRINCIPAL REDUCTN 06-15-03 06/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN 240,642.60 IP MTG SERIES 322 CL PO K I701 DUE 03/01/32 INCIPAL PAYMENT 06-25-03 06/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN 245.158.30 IPS SERIES 326 CLASS 1 PO Kr i01 DUE 07/01/32 INCIPAL PAYMENT 06-25-03 06/25/03 PRINCIPAL FANNIE MAE CMO/SERIES 2002-82 -853.165 -CO RTR K 730 DUE 10/25/31 INCIPAL REDUCTN 06-25-03 06/25A13 PRINCIPAL FEDERAL NATIONAL MTG ASSN 458.817 SERIES 2003-09 CLASS SW 5.680 DUE 01/25/33 PRINCIPAL REDUCTN 06-25-03 TOTAL $-62.039.062.25 $65.913.615.90 INTEREST DATE OESCRPTION SY1.18CUCUSIP COOMMY RATE I% CENT AMOUNT °non AMOUNT 06/02/03 AVG BAL 391.997RT 213.46 021 OFFICE INTEREST 0503 06/16/03 FEDERAL HOME LOAN MTG CORP 1.0000 49,550.75 SERES 2071 CLASS YT DUE 03/15/2032 1.000 INTEREST PAYMENT 06-15.03 027 0621/03:11:30 001 Dine EFTA00195705 CLEARED THROUGH NS vngkiv OME0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirhs SOC,r44,1 C0,0 Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Non York 10179 Ore Mem:tech Center North Beccidon. New Ye* 1120/3859 STEARNS FINANCIAL TRUST CO INC 10 CI 13 STATEMENT PERK* May 31.2003 THROUGH June 27.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER AMBER On File INTEREST (continued) LAST STATEMENT May 30.2003 DATE DESCRIPTION SYMBOJCUSIP OUAARITT RAM 1%) DEBIT AMOUNT COEDIT AMOUNT 06/16/03 FEDERAL HOME LOAN MTG CORP 5.8200 192,618.75 SERES 2483 CL SL DUE 03/15/2032 5,820 INTEREST PAYMENT 06-15.03 06/16/03 FEDERAL HOME LOAN MTG CORP 6.8200 196,299.88 SERES 2488 CLASSiO DUE 03/15/2032 820 INTEREST PAYMENT -15.03 06/16/03 FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS .SE MIS 6.0900 227,479.19 DUE 02/15/2032 090 INTEREST PAYMENT -15.03 06/16/03 FEDERAL HOME LOAN MTG CORP 5.8200 91,168.80 SERES 2526 CLASS SI DUE 02/15/2032 5,820 INTEREST PAYMENT 06-15.03 06/25/03 FANNIE MAE CMG/SERIES 2002-82 SK-YO RTR "MI 6.7300 122.70933 DUE 10125/2031 L730 INTEREST PAYMENT -25.03 06/25/03 FEDERAL NATIONAL MTG ASSN 5.6800 115.051.99 SERES 2003-49 CLASS SW DUE 01/25/2033 5680 INTEREST PAYMENT 06-25.03 TOTAL $995.092.35 REPURCHASE AND REVERSE REPURCHASETRANSACTIONS with Bear,Stearns& Co.Inc. SET1LEMENT MODE DATE DATE TRANSACTION DE5000'120 SYMBOL CU$1P (XJAMITY DEEM AMOUNT CREDIT AMOUNT 06/13/03 JOURNAL ADP CD 3,720,000.00 FITM.PR 027 DE2603:11:38 001 EFTA00195706 CLEARED THRWGH ITS valCUY OH7.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szeirns Secv, t.ti Cory. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Dec Mevoiech Cantot North Betatron. New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PER100 May 31.2003 THROUGH June 27.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT May 30.2003 SETTLEMENT TRADE DATE DATE TR/MACRON DESCRPRON STMOWCUSIP eclNillY DEBIT AMOUNT CREDIT AMOUNT S JOURNAL ADP CD 3.720.000.00 FITM-PR 06/23/03 JOURNAL ADP CD 3,720,000.00 FITM-PR 06/2311 JOURNAL ADP CD 3.720.000.00 FITMPR 0623103 JOURNAL ADP CD ATM-PR MIN 4.760.000.00 06/231 INTEREST ADP CD 928.97 DUE 123 25 06271 JOURNAL ADP CD 4.760.000.00 ATM-PR 06/27/03 JOURNAL ADP CD 4.760.000.00 FITM-PR 061271 JOURNAL ADP CD 4.760.000.00 FITM-PR 06/27/03 JOURNAL ADP CD ATM-PR EMI 5.400.000.00 027 0528.03:11:38 001 V808 EFTA00195707 CLEARED THROUGH NS vogX1Y OHNE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Saea•ns SO0A,581 GNP. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Ore Metsoiech Cantof North Beccioon. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC 12 vi IS STATEMENT PERICIO May 31.2003 THROUGH June 27.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER 18.1118ER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT May 30.2003 SETTLEMENT TRACE DATE DATE TRANSACTION DESORPTION SYMEICIAUSIP 121./N011Y DONT AMOUNT CREW AMOUNT 06/27r. INTEREST ADP CD 391.38 DUE 12/3 25 TOTAL $-22.360.000.00 $16.961.320.35 MISCELLANEOUS DATE MCIOAT TRANSACTION DESCRIPTION DEB? AIACVIIT CPE3T A/IOLNT 06/11/03 JOURNAL MAY 03 SPEC CLEARING FEES 700.00 06/12/03 JOURNAL FNMA-30YR(FNMA)GTO 201906.25 SETT06/03 5400 DUE 06/01/33 MBS NET 06/1203 06/17/03 JOURNAL FEDERAL HOME LOAN MTG CORP 8.744.25 SERIES 2471 CLASS YT 1,000 DUE 03115/32 P8I TRNFR 06/17/03 JOURNAL FEDERAL HOME LOAN MTG CORP 8.744.25 SERIES 2471 CLASS YT 1000 DUE 03/15/32 P8I TRNFR 06/19/03 JOURNAL FEDERAL HOME LOAN MIG CORP 8.744.25 SERIES 2471 CLASS YT 1000 DUE 03/15/32 P8I TRNFR ADJ, 0624/03 JOURNAL FITG TO FITM 272.962.00 TOTAL $9.444.25 $494.356.75 027 M28.0311:38 001 EFTA00195708 CLEARED THRWGH ITS wilekLY OtP.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szea•ns S0C.,44.1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 CeoLletsoloch Cella North Becdoon. New Ye* 11201.3859 STEARNS FINANCIAL TRUST CO INC 13 vi 13 STATEMENT PERICIO May 31.2003 THROUGH June 27.2003 ACCOUVT NUMBER Trades Executed Pending Settlement TAXPAYER WIPER On File LAST STATEMENT May 30,2003 STATEMENT TRADE DATE DATE TRANSICTON DESORPTION STME/OCCUSP DEBIT AMOUNT CROW PAIDUNT 07/14/03 06/05/03 BOUGHT FNMA-30YRIFNMAJGTEI 20.000.000.00 103.4062 20,681,250.00 SETT,07/03 05,500% BS 09115/03 06/17/03 BOUGHT FNMA-30YRIFNMAIGTD SETT,09, 03 IMO 10,000,000.00 101.4687 10,146,875.00 05,000% BS TOTAL 530,828.125.00 The Hype Fades de nol eppew on an/ other sedge ci inn :Ism* End of Statement 027 0628.03:11:38 001 M108 EFTA00195709 CLEARED THRCOGH ITS soseirl 091.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 808r. Sten. SOPribtl Crop. BEAR Bear. Stearns & 00. Inc. Ore Metrolech Confer North 383 Madison Avenue Beccidon. New Toot 11201.3859 STEARNS New York. Nen York 10179 FINANCIAL TRUST CO INC STATEMENT PERIOD *11 28. 2003 ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSITE www.bearsteams.com THROUGH May 30.2003 ACCOUNT NUMBER What's In This Statement 1111,111111111111 II TAXPAYER MASER On File LAST STATEMENT *11 25.2003 Financial Summary 3 FINANCIAL TRUST CO INC 4 CdO JEFFREY EPSTEIN Your Portfolio Holdings 6100 RED HOOK QUARTER Transaction Detail STE B3 Trades Not Yet Settled 15 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio $128.074 Cash 8 Equwalent TOTAL VALUE OF SECURITIES THIS PERIOD 23,876,335 $97.944 LONG ACCRUED INTEREST 418,194 Fixed $23.876.335 NET CREDIT BALANCE 128,074 Income ''' ...... .... $21.153.305 Current market value NET EOUTTY THIS PERIOD $24,422,603 EN Last statements market value NET EQUITY LAST STATEMENT 21,444,251 CHANGE SINCE LAST STATEMENT 2,978,353 There are no 'Stop loss' orders or other pending buy or sell open orders on tile for your account. Amy. TNT Penh/ R br SOmsaoHol proms only I Is Oat Mended asataadcont Tres statormrt should be Maned for your words Set worm fa for mortar/ formation 027 05.31,0335:30 001 9504 EFTA00195710 CLEARED 1HROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. Saee•ns SON, t4,1 COO. Ceol.letsolech Cantot North Broeklln• New Ye* 11201.3859 FINANCIAL TRUST CO INC 2 oi is STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0531,03:15:30 001 Y644 EFTA00195711 CLEARED 1HRWGH ITS "AIM? OBBE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szea•ns Seeiritiel Cory. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Nev York, Nee York 10179 Ore Metraiech Conte North Brogoon. New root I1201-3859 STEARNS FINANCIAL TRUST CO INC 3 ci STATEMENT PERXIO *II 26.2003 THROUGH May 30.2003 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER AMBER On File DC PEW° YEAR TO DATE THIS PERICO LAST STATEMENT *11 25.2003 Opening Balance $97,943.89 Govt. Agency Int. 858.912.79 4.644.945.23 Corp. Bond Int. 128.482.02 530,674.45 Securities Sold 93,187,950.43 Credit Balance Int. 100.25 372.43 Dividends Interest 987.495.06 Reverse Repurchase Int. 5.131.07 9,244.06 Miscellaneous 2,270,988.66 Total $992,626.13 $5,185,236.17 Amount Credited $96.446.434.15 Bond Purchase Int. -19,175.34 -50,156.82 Securities Bought -96.034,964.30 Repurchase Int. Exp. -10,991.93 -24,344.52 Dividends/Interest Charged -19.175.34 Miscellaneous -362.164.00 Amount Debited $-96,416,303.64 Portfolio Composition CashiCash Equivalent 128,074 Net Cash Activity 30,130.51 Fixed Income 23.876.335 ClosingBatance $128.074.40 Your Portfolio Total $24,004,409 Allocation Cash Si Egan:skint -- Cash Balance Summary <1% OntotiG CLOSING Margin 97.943.89 128,074.40 Net Cash Balance $97,943.89 $128,074.40 — Fixed Income 99% UnWooecl croons oeno* oar Dion", onto Or, male aye, ha oloml✓r ;event'', t, oa•aed Icon to otooixe market rat), al >vv palkno 027 0531,0305:30 001 Y644 EFTA00195712 CLEARED THRWGH ITS OtM,E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Saea•ns SON, t4,1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Ore Mevolech Cella North Beccidon. New Ye* 11201.3859 STEARNS FINANCIAL TRUST CO INC 4 vi STATEMENT PERK* April 26.2003 THROUGH May 30.2003 Your Portfolio Holdings ACCOUNT NUMBER TAXPAYER AMBER On File CASH & CASH EQUIVALENTS LAST STATEMENT *8 25.2003 MARKET ESIIMAIED CUAPENT DEsekP-iou S•MECL 0./StP QUANTITY PACE VALUE /ANAL IN'A'NE V SO I%) CASH BALANCE 128,074 TOTAL CASH & CASH EQUIVALENTS $128.074 FIXED INCOME Government & Agency Obligations ACC" =NW WT8141E° CURN5Vr DESCRPTION s•rincixusit, TOE OLvanr• PPJCE MOAT VALLE MEREST ANNUAL INCOME YEID FEDERAL HOME LOAN MTG CORP MRGN 44,823.481 3.382.158 113,742 2.729,750 80.7103 SERIES 2530 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY DUE 0245/2032 .090% FACTOR - .7470 10 FEDERAL HOME LOAN MTG CORP MRGN 19,227,164 IIIIIIIIIII 1.490.873 45.583 1.094,026 73.3816 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 0245/2032 5.690% FACTOR - .74705810 FEDERAL NATIONAL MTG ASSN MRGN 3,528,945 93.7734 3.309.213 3 35 IIIII STRIP MTG SERIES 322 CL PO DATED DATE 03/01102 BOOK ENTRY ONLY DUE 03/01,2032 .001% FACTOR — .95858130 FEDERAL HOME LOAN MTG CORP MRGN 59.460.900 2.4527 1.458.403 24.777 594.609 40.7712 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 0345/2032 1.000% FACTOR — .69954000 027 053103:15:30 001 EFTA00195713 CLEARED THRWGH YrisekLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, ht. Cat. Bear. Stearns & Co. Inc. Cc* Mevolech Contof North BEAR 383 Madison Avenue New YY New York 10179 Recck/on. New Year 11201.3859 STEARNS FINANCIAL TRUST CO INC 5 STATEMENT PERKO Apra 26.2003 THROUGH May 30.2003 Your Portfolio Holdings (continued) ACCCUNT NUMBER TAXPAYER WESER On File LAST STATEMENT April 25.2003 Government & Agency Obligations (continued) ACCT ACCRUED ESTINVIED CURRENT DESCRIPTION SYM3OLOASP TYPE WHOM PRICE MARKET VALLE MEREST ANNUAL INCOME YELD IM FEDERAL HOME LOAN MTG CORP MRGN 35,210,740 2.589.920 98,150 2.355599 90.9526 SERIES 2488 CLASS SO DATED DATE 07/0802 BOOK ENTRY ONLY DUE 03/15/2032 690% FACTOR - .7042 80 FEDERAL HOME LOAN MTG CORP MI MRGN 40.622.583 IIIIIIII 3.160.349 96,310 2.311.425 73.1383 SERIES 2483 CL SL DATED DATE 07102/02 BOOK ENTRY ONLY DUE 03115/2032 5.690% FACTOR - .70421480 FEDERAL NATIONAL MTG ASSN MRGN 3.806.994 93.4609 3.558.052 3 38 STRIPS SERIES 326 CLASS 1 PO DATED DATE 07/01/02 BOOK ENTRY ONLY DUE 07/01/2032 001% FACTOR - .98160800 FEDERAL NATIONAL MTG ASSN MRGN 24.306.759 11.0313 2.681.339 19,176 1.380,624 51.4901 SERIES 2003-49 CLASS SW INTEREST FROM DATE 0512S/03 DATED DATE 04/30/03 FIRST COUPON 06/25/2003 BOOK ENTRY ONLY DUE 01/2512033 5580% FACTOR — 1.00000000 Total Government& Agency Obligations $21.630,307 $397,744 $10,466,106 027 Ot. 21 03.10 00I EFTA00195714 CLEARED THROUGH ITS witCkLY 1h.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirhs SOC.r.t.81 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Non York 10179 0 -41k :tech Coma North Beccidon. New Ye* 11201.3859 STEARNS FINANCIAL TRUST CO INC I STATEMENT PERK* *11 26.2003 THROUGH May 30.2003 Your Portfolio Holdings (continued) ACCCUNT NUMBER TAXPAYER NUO3ER OII File LAST STATEMENT NMI 25.2003 Corporate Bonds ACCT /CORDED ESTIACIED CURRIBVT DESCRIPTION SYNSCUCUSP TYPE OUAMITY PRICE MARKET VALUE MEREST ANNUAL /COME VELD 1•44 FANNIE MAE CMO/SERIES 2002-82 MRGN 21.879.856 10.2653 2.246.028 20,450 1.472.514 65.5608 SK-I/O FLTR DATED DATE 10/02/02 BOOK ENTRY ONLY DUE 10/25/2031 i i 730% FACTOR — .8751 28 Total CorporateSonds $2.246.028 $20,450 $1.472.514 TOTAL FIXED INCOME $23.876.335 $418.194 $11,938.620 YOUR TOTAL ACCRUED INTEREST $418.194 YOUR TOTAL ESTIMATED ANNUAL INCOME $11.938.620 YOUR PRICED PORTFOLIOHOLDINGS $24,004,409 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE DATE TRANSACTION DESORPTION SeME10. CuSP CLIAMITY Pira DEBIT AMOUNT C?£0T N/O-NT 05/12/03 05/07/03 SOLD FEDERAL NATIONAL MTG ASS 139,069 101.06250 214.922.36 SERIES 2003-16 CLASS JS ACCR. INT. 33.880.83 10,050% REF # BS 027 03.31,1331S:30 001 VG44 EFTA00195715 CLEARED THROUGH ITS witekLY 0%M.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirhs SOC.r.t*1 Dap. Bear. Stearns 8 Co. Inc. BUR 383 Madison Avenue New YY New York 10179 Ore Metsclech Cantet North 0eock11n. Nev. VC* 11201.3669 STEARNS FINANCIAL TRUST CO INC STATEMENT PERKO WI 26.2003 THROUGH May 30.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER WEBER On PIM INVESTMENT ACTIVITY (continued) LAST STATEMENT April 25.2003 SETTLEMENT TRADE DATE DATE TRANSACTION OESORPTION SYMBOL:CUSP OVANTITY PRICE DEED AMOUNT MOTT MOM 05/14/03 04/29/03 BOUGHT FEDERAL NATIONAL MTG ASSN 3.806,994 89.00000 3.388,224.66 STRIPS SERIES 326 CLASS 1 PO 00.001% REF # BS TO ADJ PREVIOUS MONTHS FACTOR AS OF 04/25iO3 05/14/03 03/24/03 BOUGHT FNMA-30YR(FNMA)GTD 20.000.000 100.93750 20.187.500.00 SETTJ3603 BS 05/14/03 05/07/03 CANCEL SELL FNMA-30YR(FNMA)GTD 20.000.000 103.10156 20.620.312.50 SETTJ3603 05.500% REF # BS AS OF TO CM. PREVIOUS SELL 0514./03 03 24 03 CANCEL BUY FNMA-30YR(FNMA)GTD -20.000.000 100.93750 20,187500.00 SETT.05103 OUE 05.01/2033 06,500% BS AS OF 03/24103 TO CM. PREVIOUS BUY 05/14/03 05/07/03 SOLD FNMA-30YR(FNMA)GTD -20.000.000 103.10156 20,620,312.50 SETT:3903 BS 05/14/03 JOURNAL FEDERAL NATIONAL MTG ASS -1 SERIES 2003-16 CLASS JS 10,050 DUE 03/25/18 b5/1 AVM ?OEM. HoiXEC641 lieff6.6510 -2,236.000 SERIES 2471 CLASS YT 1.000 DUE 03/15/32 PRINCIPAL REDUCTN 05-16-03 027 C621.03:16:30 001 Y644 EFTA00195716 CLEARED THRWGH ITS ?RIMY OtM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Neon Seonmi GOO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Ore Metsolech Cella North Beccidon. Nev. VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC 8 v/ STATEMENT PERKO )143fIl 26.2003 THROUGH May 30.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER AMMER OR File INVESTMENT ACTIVITY (continued) LAST STATEMENT *11 25.2003 SETTLEMENT TRADE DATE DATE TRANSACTiON DESCRIPTION SYMBOL:CUSP okomin. PRCE DEBIT AMOUNT CREDO AMO,NT 05/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -952 SERIES 2471 CLASS YT 1.000 DUE 03/15/32 PRINCIPAL REDUCTN 05-15-03 05/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -3.711.000 SERIES 2483 CL SL 5.690 DUE 03/15./32 PRINCIPAL REDUCTN 05-1543 05/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP .454 SERIES 2483 CL SL 5.690 DUE 03/15/32 PRINCIPAL REDUCTN 05.15-03 05/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -3.918.000 SERIES R 2530 CLASS SE .090 DUE 02/15/32 INCIPAL REDUCTN 05-15-03 05/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -180 SERIES R 2530 CLASS SE .090 DUE 02/15./32 INCIPAL REDUCTN 05-15-03 05/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP SERIES 2526 CLASS SI MI= .1.680.000 5.690 DUE 02/15/32 PRINCIPAL REDUCTN 05-15-03 05/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -715 SERIES 2526 CLASS SI 5.690 DUE 02/15./32 PRINCIPAL REDUCTN 05-I5-03 05/27/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN 282.084.50 STRIP MTG SERIES 322 CL PO 1001 DUE 03/01/32 PRIN RID 04- PA 05-25-03 REPO P & I .0000 027 0531D3:15:30 001 'its< EFTA00195717 CLEARED THRWGH ITS CAMEO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirhs SOC,r44,1 C0,0 Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 0-4 LIcuctech Contec NOM Beccicon. New re* 11201.3859 STEARNS FINANCIAL TRUST CO INC 9 STATEMENT PERIOD *11 26.2003 THROUGH May 30.2003 Transaction Detail (continued) ACCCUNT NUMBER ■ TAXPAYER MASER On PIM INVESTMENT ACTIVITY (continued) LAST STATEMENT WI 25.2003 SETTLEMENT TRADE DATE DATE TRANSACT/ON DESCRIPTION SYMBOL:CUSP CUM4MY DEBIT AMOUNT CREDO' AMOUNT 05/27/03 PRINCIPAL FANNIE MAE CMO/SERIES 2002-82 -1,029,000 40 RJR 05/27/03 PRINCIPAL (. 730 ME 10/25/31 INCIPAL REDUCTN 05-25-03 FANNIE MAE CMOSERIES 2002-82 -270 sK-VO RTR I.730 DUE 10/25/31 PRINCIPAL REDUCTN 05-25-03 05/30/03 04/29/03 BOUGHT FEDERAL NATIONAL MTG ASSN 24.306.759 11.06250 2.688,935.21 SERIES 2003-49 CLASS SW ACCR. INT. 19.175.34 05,680% BS AS OF 04/29/03 TOTAL $-46.904,147.71 $48,338,700.19 INTEREST DATE DESCRPTKIN SIGABOUCUSIP oilman RATE PO DENT AMOUNT CREDIT AMOUNT 04/28/03 AVG BAL 219,997RT01. 100.25 021 OFFICE INTEREST 05/15/03 FEDERAL HOME LOAN MTG CORP 1.0000 22,267.38 BEIMRiANINDYSS Ii)00 INTEREST PAYMENT 05-15.03 05/15/03 FEDERAL HOME LOAN MTG CORP 1.0000 31,810.54 SERES 2471 CLASS YT 414 tl e /pq.p3 016 :6 7503 05/15/03 FEDERAL HOME LOAN MTG CORP 5.6900 210217.22 SL EMMA 5.690 INTEREST PAYMENT 05-15-03 027 0,3I 03.1S:30 GUI Y84A EFTA00195718 CLEARED THROUGH ITS witCkLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns S0N, t4T1 Cory. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cc* Mevolech Contec NOM Beccidon. New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC 10 c? I!. STATEMENT Auto) April 26.2003 THROUGH May 30.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER WESER On File INTEREST (continued) LAST STATEMENT April 25.2003 DATE CESCRVTION STMECtiCUSIP OVANTITY RATE 11 DEBIT AMOUNT CREDIT AMOUNT 05/15/03 FEDERAL HOME LOAN MTG CORP 214,234.68 SEBES 2488 CLASS 0 3 IL‘Ig.001 05/15/03 FEDERAL HOME LOAN MTG CORP 247,363.95 BEIK1MNOSeSS090 INTEREST PAYMENT -15.03 05/15/03 FEDERAL HOME LOAN MTG CORP 5.6900 99.138.19 SERIES 2526 CLASS SI WARAISIMIENT Regtoa 05/27/03 FANNIE MAE CMG/SERIES 2002-82 128482.02 A-T csaeENT two3 a R TR TOTAL $953.614.23 REPURCHASE AND REVERSE REPURCHASETRANSACTIONS with Bear,Stearns& Co.Inc. SETTLEMENT TRADE DATE DATE TRANSACTION DESCRITrICH SYI.I6WCUSIP CVNTITITY Cell AMOUNT CREDIT AMOUNT 05/13. JOURNAL 1.950.000.00 Far la 31,49 05/13/03 JOURNAL ADP 1.950,000.00 05/13. JOURNAL ADP 1.950.000.00 FITM-PR 02/ OS 3I 03.1S:30 00I V644 EFTA00195719 CLEARED THRWGH YrisekLY OtM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, t4,1 GOO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 CcoMetsolech Contof North Becck/on. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT Auto) April 26.2003 THROUGH May 30.2003 Transaction Detail (continued) ACCCUNT NUMBER ■ TAXPAYER NUMBER OR File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT WI 25.2003 SETTLELIEM WADE DATE DATE TRANSACRON DEStsiricii SYMECUCUSP DEBIT AMOUNT CREDO' AMOUNT 05/13/03 JOURNAL 9.290.000.00 S625 IR)4941 8 625 011E 1/49 INTEREST ADP CD 1256.67 DUE 1213 JOURNAL rgWEllgrioNAL -3.806.994 .158,000.00 TRIPS SERIES 326 CLASS I NO 001 OUE /32 FITM RP RP OPEN 05119/03 JoutiNAL triZtthrtiXTIONAL Kin At..AN -B.806.994 2.120.000.00 TRIPS SERIES 326 CLASS 1 PO 001 ITM RP RP OPEN 05119/03 J OP tintOrflatiAintiiMMAW 806.994 .158.000.00 TRIPS SERIES 326 CLASS I PO 01 2 ITM RP TERM RP TERM 05/19/03 INTEREST FEDERAL NATIONAL MTG ASSN 684.23 STRIPS SERIES 326 SS 1 PO DUE 07/fl .001 FITM RP TERM RP TERM 05231.1 JOURNAL ADP 9.290.000.00 FITM-PR 027 0531,03:15:30 001 Y644 EFTA00195720 CLEARED THROUGH ITS WHOLLY ORT.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beef. Szteree Seevetcs COO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cr.* Meeseiecn Cantof North BeoPOon. New Ye* I12010$59 STEARNS FINANCIAL TRUST CO INC STATEMENT PERM *11 26.2003 THROUGH May 30.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (COMMIS) LAST STATEMENT *11 25.2003 SETTLEMIDE TRADE DATE DATE TRANSACTION DESCREISN nmect,rus, DEBIT AMOUNT CREDIT AMOUNT 05/23/03 JOURNAL 9.290.000.00 1/49 0523 JOURNAL ADP FITM-PR 9.290.000.00 1/4 URNAL ADF 11.11b.8881 FITTL4PR INYEiliftY Atirt15 2.attiat DUE 12/3 0528/03 JOURNAL FEDERAL NATIONAL MTG ASSN 3,528,945 3.078.000 00 ITRIP MTG SERIES 322 CL PO pot FITM RP TER RP TERM D5128/03 JOURNAL FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT MIN 34.977.000 1,000 32 FITM RP TER RP TERM D5128,03 JOURNAL FEDERAL NATIONAL MTG ASSN 3,806.994 2.120.000.00 TRIPS SERIES 326 CLASS I PO 001 E 7 1/32 FITM RP TER RP TERM 027 C62603:16:30 001 YealA EFTA00195721 CLEARED THRWGH nS YrisekLY OtM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns S0N, 14,1 Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Metsolech Contof North Beccidon. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC 13 STATEMENT PERIOD April 26.2003 THROUGH May 30.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT WI 25.2003 SEMEMENT TRADE DATE DATE TRANSACTION DESCRPTION STMEIWCUSIP OWARITT DEBIT AMOUNT CREDIT AMOUNT 05/28/03 JOURNAL aDatiagEMAN MTG CORP 35,210,740 3.133.000.00 ITM OM RP TER RP TERM 05/28/03 JOURNAL ADP 3.190.000.00 FITM-PR 1/4 05/28. JOURNAL ADP 11.100.000.00 Frth4PR 05128,03 INYEMY Trl5gliNCIUYONAL mYa ANN 4.966.69 STRIP MTG SERIES 3gp CL PO DUE 03 t001 FITM RP TER RP TERM os $.0 ?MEV rtigkrI4XY(6NAnila 832.10 STRIPS SERIES 326 SS I PO DUE 07 001 FITM AP TERM AP TERM 05/28/03 INTEREST FEDERAL HOME LOAN MTG CORP 4.508.91 SERIES 2488 CLASS DUE 03/ t690 FITM A4 AP TERM AP TERM 05281 INTEREST ADP CD 1,369.00 DUE 12/31,7049 R.625 027 05,31,03:15:30 001 YeslA EFTA00195722 CLEARED IHRWOH ITS vmOUv CAMEO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirhs SOC,r44,1 GNP Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mevolech Centec North Beccidon. New Tuft I I2DI.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERK* April 26.2003 THROUGH May 30.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER NUMBER On Flk REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT WI 25.2003 SEMEMEM TRADE DATE DATE TRANSACTION DES:RP1Cti MANTON DEBIT AMOUNT CREDIT AMOUNT 05/29/03 JOURNAL 2.830.000.00 1+49 05/291 JOURNAL ADP 3.190.000.00 FITM-PR 1+4 ogmg i ?NV NUS DUE 12/3 .41 Ss ai JouRiva. FITM-PR 2.630.000.00 8.625 OUE 31W9 osiss INTEREST DUE 12P3 5 74.88 TOTAL 549.149.991.93 $44,883,131.07 MISCELLANEOUS DATE MCvDAY TRANSACTION DESCRIPTON DENT AMOUNT CREPT Mara 05/09/03 JOURNAL APR 03 SPEC CLEARING FEES 50.00 05/14/03 JOURNAL FNMA-30YRIFNMAIGTD 432.812.50 SER.05/03 5.500 DUE 05/01/33 MBS NET 05/14103 65/1 i JbltliAlXL PairciAL larreggiVitatalili 9.54116 SERIES 2471 CLASS YT 1.000 DUE 03+15/32 PSI TRNFR 02/ X3103:1;: '40 001 Y644 EFTA00195723 CLEARED THRWGH ITS VIIleklY OW,C0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns S0N, t4,1 Dap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Ore Mevolech Cella NOM eeccidon. New VC* 11201.3859 STEARNS New York, New York 10179 FINANCIAL TRUST CO INC 15 vi I!. STATEMENT PERIOD *11 26.2003 THROUGH May 30.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER WESER Ofl File MISCELLANEOUS (continued) LAST STATEMENT *11 25.2003 DATE MDOAT TPANSACTCN DESCRIPTION DEBIT AMOUNT CREPT AltOchi 05/27/03 JOURNAL F176 TO FIRM 1,828,633.00 05/29/03 JOURNAL ATM TO FITG 362.114.00 TOTAL 5362,164.00 52.270.988.66 Trades Executed Pending Settlement SETTLEMENT TRADE DATE DATE TRANSACTION DESORPTION SlIMEIOLCUSP OUANTITY PRICE DEBIT AMOUNT CREPT AMOUNT 06/12/03 05/07/03 BOUGHT FNMA-30YR(FNMA)GTD 20,000,000.00 102.7187 20,543,750.00 M77.06/03 DUE 06101/2033 05,500% REF # 8$ TOTAL $20.543.750.00 The chow Peon Eo nol eppem on any cling saban of lho OalowNet Endof Statement 027 0531003:15:30 001 EFTA00195724 CLEARED THRCOGH ITS VolMY OHOXO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szerros SOOrrher Corp. Bear. Stearns & 00. Inc. BEAR 383 Madison Avenue New York. New York 10179 Ore Metroiech Corder North Becciorn. New Too 1120/3959 STEARNS FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE GNMA GOVT BOND STATEMENT PERK* March 29.2003 VISIT OUR WEBSITE vemv.bearstearns.cOm THROUGH April 25.2003 ACCOUNT NUMBER What's In This Statement 11111111111111111 II TAXPAYER MOWER On File LAST STATEMENT Meech 28.2003 Financial Summary 3 FINANCIAL TRUST CO INC CdO JEFFREY EPSTEIN Your Portfolio Holdings 4 6100 RED HOOK QUARTER Transaction Detail STE B3 Trades Not Yet Settled 13 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio Cash Si Equwalent $97.944 TOTAL VALUE OF SECURITIES THIS PERIOD 21,153,305 $273.282 LONG ACCRUED INTEREST 193,002 Fixed 21.153.305 •• cum >io.inWIR $24.075.942 NET CREDIT BALANCE 97,944 Income aim Current market Value NET EQUITY THIS PERIOD $21,444,251 MI Lest statements market value NET EGUITY LAST STATEMENT 24,650,030 CHANGE SINCE LAST STATEMENT -3,205,779 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. StonITY a for ofrormaoml ptrpOses cry Okra flooded as dcone 51)C INS Tres statecnerc shoad be retailed to your records See mem sure for twin nrcaercet 027 0.1126,03a 1:41 001 2643 EFTA00195725 CLEARED 1HROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, t4,1 COO. Ceol.letsolech Cantot North Broeklln• New Volt 11201.3859 FINANCIAL TRUST CO INC 2 oi la STATEMENT BACKER IS PRINTED ON THIS PAGE 027 042603:It:AB 001 Y643 EFTA00195726 CLEARED 1HRWGH ITS CAM‘.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Screams SON, 14,1 Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 OtoLlevolech Conte North Beccidon. New To* I1201.3859 STEARNS FINANCIAL TRUST CO INC 3 O STATEMENT PERKO March 29.2003 THROUGH *II 25.2003 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER KAISER On File THIS PERICO PERICO YEAR TO DATE LAST STATEMENT March 28.2003 Opening Balance Govt. Agency Int. 938.633.16 3.786.032.44 $273,282.28 Corp. Bond Int. 132.220.68 402,192.43 Securities Sold 48,556,911.46 Credit Balance Int. 79.66 272.18 Dividends/Interest 1,070,933.50 Reverse Repurchase Int. 521.67 4,112.99 Miscellaneous 145.913.71 Total $1,071,455.17 $4,192,610.04 Amount Credited $49.773,758.67 Bond Purchase Int. -30,981.48 Securities Bought -49950,352.59 Repurchase Int. Exp. -13,352.59 -13,352.59 Funds Withdrawn -77.852.00 Miscellaneous -20.892.47 Amount Debited $.49.949,097.06 Portfolio Composition CastilCash Equivalent 97,944 Net Cash Activity -175.338.39 Fixed Income 21.153,305 ClosingBalance $97,943.89 Your Portfolio Total $21,251,249 Allocation Cash 8, Equrealent Cash Balance Summary <1% OPEN NG CLOSING Margin 273,282.28 97.94399 Net Cash Balance $273.282.28 $97,943.89 — Fixed Income 99% Un•JvoeO croons °ono* oar Deena onto Orr male aye, The olorehm ;event"a t, PP•aed ken Va otwol.te market rat), or >es parka" 027 0426,03:11:OS 001 1643 EFTA00195727 CLEARED THROUGH ITS CA1h(0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirhs SOC,r44,1 Cory. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 0-41km:tech Centec North aro:kW% New Ye* 1201.38S9 STEARNS FINANCIAL TRUST CO INC 4 cl STATEMENT PERKO MATO 29.2003 THROUGH *11 25.2003 Your Portfolio Holdings ACCOUNT NUMBER TAXPAYER WESER On File CASH & CASH EQUIVALENTS LAST STATEMENT MESON 28.2003 MARKET ESTIMATED CUAPENT otscan-iou S•MSCLOStP QUANTITY PACE VALUE ANVJAL IntWE V SO I%) CASH BALANCE 97.944 TOTAL CASH & CASH EQUIVALENTS 597.944 FIXED INCOME Government & Agency Obligations ACC' ACCRUED ESTILWIED CURTIN,' [(SUMMON sir/au:Lusa TYPE OUANN1Y PRICE MARKET VALUE INTEFEST ANNUAL INCOME YEW IlL1 FEDERAL NATIONAL MTG ASS MRGN 1139.070 98.7400 1.049.118 717,477 10.1783 SERIES 2003-16 CLASS JS DATED DATE 01/06103 BOOK ENTRY ONLY DUE 03/25/2018 10.050% FACTOR - .96506519 FEDERAL HOME LOAN MTG CORP MRGN 48.741.661 9.1479 4.458.847 82.458 2.968,367 66.5725 SERIES 2530 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY DUE 0245:2032 A090% FACTOR - .8123 I0 FEDERAL HOME LOAN MTG CORP MRGN 20.907.879 9.1154 1.905.832 33.046 1.189.658 62.4220 SERIES 2526 CLASS SI DATED DATE 1010002 BOOK ENTRY ONLY DUE 0'2/16,2032 5.690% FACTOR — .81236110 FEDERAL HOME LOAN MTG CORP IIIIIII MRGN 26.720.852 2.7564 736.536 1423 267.209 36.2791 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.00094 FACTOR — .76345290 027 01,2603:11:48 001 EFTA00195728 CLEARED THRWGH ITS niCkLY OHY.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC.,44,1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cc* Mevolech Cella North Becdoon. New Year 1201.38S9 STEARNS FINANCIAL TRUST CO INC 5 STATEMENT PERK* March 29.2003 THROUGH WI 25.2003 Your Portfolio Holdings (continued) ACCOUNT NUMBER ■ TAXPAYER NUOTER On File LAST STATEMENT March 28.2003 Government & Agency Obligations (continued) ACCT ACCRUED (STEWED CURFEW DESCRIPTION SYMOOLOASP TYPE OLIMITITY PRICE IAARKET VALLE MEREST ANNUAL INCOME YELDIY4 FEDERAL HOME LOAN MTG CORP MRGN 44,334,037 9.2039 4.080.481 70,075 2.522,607 61.8213 SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2032 5.690% FACTOR — .76855490 Total Government& Agency Obligations 518.230.814 $193.002 I.665.318 Corporate Bonds ACCT ACCRUED wham CIARRIPR DESCRIPTION SWABOUCUSP TYPE °UNARY PRICE MARKET VALLE MEREST ANNUAL INCOIAE YELD FANNIE MAE CMO/SERIES 2002-82 MRGN 22,909,126 12.7569 2.922.491 1.541,784 52.7558 SK-WO FUR DATED DATE 10/02/02 BOOK ENTRY ONLY DUE 10/25/2031 '730% FACTOR - .91636507 Total CorporateBonds $2,922,491 MI $1,541,784 TOTAL FIXED INCOME $21,153,305 $193,002 $9,207,102 YOUR TOTAL ACCRUED INTEREST $193,002 YOUR TOTAL ESTIMATED ANNUAL INCOME $9.207.102 YOUR PRICEDPORTFOLIOHOLDINGS $21.251.249 021 042603:11:45 001 Y64.3 EFTA00195729 CLEARED THROUGH ITS niCkLY OHnE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szeirns Soc.r.t.ei GOrP Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 CeoLlevolech Contof North Beano. New Ye* 11201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERIOD March 29.2003 THROUGH &XII 25.2003 ACCCUNT NUMBER Repurchase and Reverse Repurchase Transactions TAXPAYER MASER On Fite with Bear,Stearnsand Co.Inc. outstanding as of date of statement LAST STATEMENT Match 28.2003 PLACHASS/ RENFitimAr PRONG PURCHASE PRICE; ACCRUED REPO GUMMY START DATE DATE PATE PRINCPAL MEREST' (FACE MOM) CUSP DESCRIPTION YOU PROVIDED FEDERAL HOME LOAN MTG CORP (MARGIN) 04/07/03 OPEN MI -50,000,000 SERIES 2471 CLASS YT 1.0000 03/15/32 YOU SOLD FNMA-SMBS PRINCIPAL ONLY (REPO) 04121103 05/21/03 1.570 -3,078,000 -939 -5.000.000 SERIES 322 CLASS PO 03/01/32 YOU SOLD FEDERAL HOME LOAN MTG CORP (REPO) 04/25/03 05/21/03 1.570 -3,133,000 -409 -50.000.000 SERIES 2488 CLASS SO 03/1532 TOTAL REVERSE REPURCHASETRANSACTIONS • • TOTAL REPURCHASE TRANSACTIONS $4211,000 51.348 'As of ololtavol dat,o Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE DATE TRANSACTOR OESCMPTION SYMBOLCUSS> OJANIllY APACE DERR AMOUNT CREPT AMOUNT 04/14/03 01/27/03 BOUGHT FNMA-30YR(FNMA) GTD 10.000.000 100.60938 10.060.937.50 SETT.04/03 05.500% BS 04/14/03 02/04/03 BOUGHT FNMA-30YR(FNMA) GTD 10.000.000 100.93750 10.093.750.00 BETL04103 BS 027 042803:11:48 001 V643 EFTA00195730 CLEARED THROUGH ITS niCkLY OtME0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC.r.t.t1 COO. Bear. Stearns 8 Co. Inc. BUR 383 Madison Avenue New YY New York 10179 Ore Mevolech Contof North Beccidon. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERKO Myth 29.2003 THROUGH *11 25.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER KAMER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT Marta 28,2003 SETTLEMENT TRADE DATE DATE TRANSACTION CESCRPTION SIWBOLCUSE CVANTITY PRICE DEBIT AMOUNT CHEM MOM 04/14/03 03/24103 CANCEL SELL FNMA-30YR(FNMA) GTD 20,000.000 101.35156 20,270,312.50 SETT.04103 05.500% REF # BS AS OF 141 TO CM. PREVIOUS SELL 04/14/03 01/27/03 CANCEL BUY FNMA-30YR(FNMA) GTD -10.000.000 100.60938 10,060,937.50 SETr.04 03 DUE 04 01 2033 05.500 . AS OF 01:27x03 TO CM. PREVIOUS BUY 04/14/03 02/04/03 CANCEL BUY FNMA-30YR(FNMA) GTD -10.000.000 100.93750 10,093,750.00 SETT.04/03 05.500% REF # es AS OF : TO CAL PREVIOUS BUY 04/14/03 03/24/03 SOLD FNMA-30YR(FNMA) GTD -20.000.000 101.35156 20,270,312.50 SETT.04103 06500% BS 04/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP 1•548.000 SERIES 2471 CLASS VT 1000 DUE 03/15132 PRINCIPAL REDUCTN 04-1543 04/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -610 SERIES 2471 CLASS VT 1.000 DUE 03/15/32 PRINCIPAL REDUCTN 04-15-03 04:1603 PRINCIPAL KEMAL H5METLW1 mratlyais SERIES 2483 CL SL . . 5.720 DUE 03/15132 PRINCIPAL REDUCTN 04-15-03 027 0.26,03:11:48 001 EFTA00195731 CLEARED THRWGH ITS wile5LY CAMEO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZea•ns SOC4•444 DPP. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Dec Mevolech Cella North Betatron. New Yak 11201.3859 STEARNS FINANCIAL TRUST CO INC 8 0 STATEMENT PERIOD March 29.2003 THROUGH *11 25.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER WIPER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT March 28,2003 SETTLEMENT TRADE DATE DATE IRANSACTKIN OESCRPTION SYMEIO CUSP OtJANTIr, PRCE DEBIT AMOUNT CHEM MONO 04/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -379 SERIES 2483 CL SI. 5.720 DUE 03/15/32 PRINCIPAL REDUCTN 04-15-03 04/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP .2.857.000 EFUES 2530 CLASS SE I.120 DUE 02/15/32 PRINCIPAL REDUCTN 04-15-03 04/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP .650 RIES 2530 CLASS SE 04/15/03 PRINCIPAL I:.120 DUE 02/15/32 INCIPAL REDUCTN 04-15-03 FEDERAL HOME LOAN MTG CORP 1,225.000 SERIES 2526 CLASS SI 5.720 DUE 02/15/32 PRINCIPAL REDUCTN 04-15-03 04/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -797 SERIES 2526 CLASS SI 5.720 DUE 02/15.432 PRINCIPAL REDUCTN 04-15-03 04/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASSN 231.916.95 S MIP MTG SERIES 322 CL PO 001 DUE 03/01/32 PRIN RID 03- PA3 04-25-03 REPO P & I .0000 04/25/03 PRINCIPAL FANNIE MAE CMOISERIES 2002-82 -614.196 2K-VO RTR 1730 DUE 10/25/31 PRINCIPAL REDUCTN 04-25-03 o4/L5.05 PiliTdiPAL YOrtirligtibratIrdittg .188.473 SERIES 2003-16 CLASS JS 10,050 DUE 03/25/18 PRINCIPAL REDUCTN 04-25-03 027 082603:11:48 001 TG43 EFTA00195732 CLEARED IHRWOH ITS 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns S0N, t4,1 CPR. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Dec Montech Contet North Beccicon. New re* I I2DI0I3S9 STEARNS FINANCIAL TRUST CO INC 9 v/ STATEMENT Puce March 29.2003 THROUGH *11 25.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER IMAGER On Ale INVESTMENT ACTIVITY (continued) LAST STATEMENT Wirth 28.2003 SETTLEMENT TRADE DATE DATE TRANSACTION OESOF0PTION STAMM:CUSP OVAAITITY PRICE DEBIT AMOUNT OREM MOPE 04/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASS 188,472.84 SERIES 2003-16 CLASS JS 10.050 DUE 03/25/18 PRINCIPAL PAYMENT 04-25-03 TOTAL $40.425.000.00 840.845.389.79 DEPOSITS AND WITHDRAWALS DATE TRMSACTEN DESCPVICti CEBU MONT CREDIT AMOUNT 04/03/03 FND WIRED WIRED TO 77.852.00 TOTAL $-77.852.00 INTEREST DATE DESORPTION SYMDZIMCVSIP GUAMITY RATE DEBIT AMOUNT [MDR NAOMI 03/31/03 AVG BAL 241.588RT 79.66 021 OFFICE INTEREST 0303 64/15/03 MENAI. Ht$K4EIWITATO taus 1.0000 03,557.86 SERIES 2471 CLASS Yt INTEREST 04-1ica 04/15/03 FEDERAL HOME LOAN MTG CORP 1.0000 33,654.12 MAASS F ew, WPrID 04-M3 r. REPO P & I 1.0000 04/15/03 FEDERAL HOME LOAN MTG CORP 5.7200 223.572.95 SERIES 2483 CL SL Erafeir tegtos 027 04.26.<13:11:411 001 '.543 EFTA00195733 CLEARED THROUGH ITS vnIOLLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC,,44,1 GOrP. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mevolech CortIN NOM Beccmon. New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC 10 el I_ STATEMENT PERKO Mirth 29.2003 THROUGH &Nil 25.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER RINSER ON File INTEREST (continued) LAST STATEMENT Minh 28.2003 DATE CESCRVTION STMEICIAOUSIP OVAARITY RATE 11 DEBIT AMOUNT DREW AMOUNT 04/15/03 FEDERAL HOME LOAN MTG CORP 227,667.02 SERES 2488 CLASS 0 ,Iggipv. 04/15/03 FEDERAL HOME LOAN MTG CORP 263,156.51 EVRAntaiiss 20 INTEREST PAYMENT -15.03 04/15/03 FEDERAL HOME LOAN MTG CORP 5.7200 105,503.85 SERIES 2526 CLASS SI Marla:ENT 847e-03 04/25/03 FANNIE MAE CMG/SERIES 2002-82 132,220.68 MA:v.1m. 04/25/03 FEDERAL NATIONAL MTG ASS 10.0500 61.520.83 ad o. TOTAL $1,070,933.50 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear,Stearns& Co.Inc. SETTLEMENT TRADE DATE DATE TRANSACTION DESCRPTION STMOOLCUSIP OLMMITY DEBIT AMOUNT CREDIT AMOUNT 04/07/03 JOURNAL FEDERAL HOME LOAN MTG CORP -40,384,945 SERIES 2471 CLASS YT 1.000 FITM RP OPEN RP OPEN 04/17. JOURNAL ADP 750.000.00 FITM-PR 31x49 027 04,2643:11:48 001 VS43 EFTA00195734 CLEARED THROUGH ITS niCkLY OtM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns S0N, t4,1 COO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cc* Mevolech Contof North Beccidon. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERIOD March 29.2003 THROUGH *11 25.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER NUMBER 011FIk REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT March 28.2003 SETTLEMENT TRADE DATE DATE TRANSACTION DED:REICN CcANnre DEBIT AMOUNT CREDIT AMOUNT 04/17/03 JOURNAL 750.000.00 1/49 04/17. JOURNAL ADP 750.000.00 FITM-PR 1/4 /17 URNAL ADF 1, 5818FM FITMPR 64117.• itilEiliftY AVM 51.B7 DUE 12/3 04/21/03 JOURNAL FEDERAL NATIONAL MTG ASSN 3 811 029 3.032.000 00 ITRIP MTG SERIES 322 CL PO pot ARM RP TER RP TERM 04/21/03 JOURNAL FEDERAL NATIONAL MTG ASSN -3.811.029 3.078.000.00 TAP MTG SERIES 322 CL PO toot /32 ATM RP RP OPEN 04/21/03 INTEREST FEDERAL NATIONAL MTG ASSN 4.307.97 STRP MTG SERIES 3Zg CL P0 DUE 03 12 2 II.001 ATM RP TER RP TERM 027 04/26/03:11:06 001 V643 EFTA00195735 CLEARED THROUGH ITS 0%M.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC,r.t.t1 Cory. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mevolech Contec North Beano. New re* 11201.3859 STEARNS FINANCIAL TRUST CO INC 12 • STATEMENT PERKO Match 29.2003 THROUGH &Nil 25.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER WIWI On Ale REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT MUM 28.2003 SETTLEMENT TRADE DATE DATE TR/MACRON DESCRPTION SYMBOICUSIP QUANTITY DEBIT AMOUNT CREDIT AMOUNT 04/25/03 JOURNAL aDati ctiatglAN MTG CORP -38,427,745 3,133,000.00 390 r 6 IM T RP RP OPEN 04/25/03 JOURNAL FEDERAL HOME LOAN MTG CORP 38,427,745 3,680,000.00 IES 2488 CLASS SO 1E:90 2 ITM RP TERM RP TERM 04/25/03 INTEREST FEDERAL HOME LOAN MTG CORP 9044.62 SERIES 2488 CLASS DUE 03/ .690 FITM RP TERM RP TERM $-9,425,352.59 B711,521.67 MISCELLANEOUS DATE 1.00AT TRANSACTCN DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 04/10/03 JOURNAL MAR 03 SPEC CLEARING FEES 700.00 04/14/03 JOURNAL FNMA-30YR(FNMA)GTD 115.625.00 SER.04/03 5.500 DUE 04/01/33 MBS NET 04/14/03 04/16/03 JOURNAL FEDERAL HOME LOAN MTG CORP 20.192.47 SERIES 2471 CLASS Y7 1.000 DUE 03/15/3 INT 021-92128 TO 027 Deo26.03.I1:48 001 YB43 EFTA00195736 CLEARED IHRWOH ITS 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Saea•As SON, t4,1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Dec Mevolech Car:Ng NOM Beccnon. New re* 112013959 STEARNS FINANCIAL TRUST CO INC 13 vi 13 STATEMENT PERKO March 29.2003 THROUGH At3rc 25.2003 Transaction Detail (continued) AccouNT NUMBER TAXPAYER AtA23ER On File MISCELLANEOUS (continued) LAST sTATEmENT Mann 28.2003 DATE 1.13DAY TRANSACTION DESCRIPTION COEAMOUNT CREDIT AMOUNT 04/21/03 JOURNAL FEDERAL HOME LOAN MTG CORP 20,192.47 SERIES 2471 CLASS YE 1,000 DUE 03/15/32 REVERSE 4/16 ENTRY 04/21/03 JOURNAL FEDERAL HOME LOAN MTG CORP 10.096.24 SERIES 2471 CLASS Yr 1,000 DUE cansra INT 021-92128 TO TOTAL $-20.892.47 $145.913.71 Trades Executed Pending Settlement scnumen TRADE DATE DATE TRANSACTION DESCRIPTION 10180.CUSP CRIANTRY PACE DEBIT AMOUNT CREOR AMOUNT 05/14/03 03/24/03 BOUGHT FNMA-30YR(FNMA)GTD 20,000,000.00 100.9375 20.187,500.00 MTL05/03 DUE 05101/2033 05,500% REF # as TOTAL $20.187.500.00 The alma, Kees 03 nol appeal in any 011E social or ibb sworn/int 027 04/26/03:11:41 001 Y643 EFTA00195737 CLEARED THROUGH ITS wisC5LY OHY.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BAN. SzerE SO8ribn 0007 Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Ore Meaciech Conte( North Betatron. New TN* 11201.3859 STEARNS FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE GNMA GOVT BOND STATEMENT PERIOD Mardi 1.2003 VISIT OUR WEBSITE vovnv.bearsteams.cOM THROUGH March 28.2003 ACCCUNIT NUMBER What's In This Statement 11111111111111111 II TAXPAYER NUMER On File LAST STATEMENT Primary 28.2003 Financial Summary 3 FINANCIAL TRUST CO INC 4 0/0 JEFFREY EPSTEIN Your Portfolio Holdings 6100 RED HOOK QUARTER Transaction Detail STE B3 Trades Not Yet Settled 11 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio TOTAL VALUE OF SECURITIES THIS PERIOD 24,075,942 Cash & Equwalent $273•282 $385.776 LONG ACCRUED INTEREST 300,806 Fixed $24.075.942 NET CREDIT BALANCE 273,282 Income $23.198.123 Current market value NET EQUITY THIS PERIOD $24,650,030 mi Last statement's market value NET EQUITY LAST STATEMENT 23,891,200 CHANGE SINCE LAST STATEMENT 758,830 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. SIT TM EuGnIr7 a EY mMTITAHMAN frames only Ikea vendHAIM damned Tres stationers should Do Maned TN your records Soo worm sode far mortar/ nfamarse 027 032903:10:54 001 V642 EFTA00195738 CLEARED 1HROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, t4,1 COO. Ceol.letsolech Cantot North Broeklln• New Volt 11201.3859 FINANCIAL TRUST CO INC 2 el 12 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 012903:10:54 001 V642 EFTA00195739 CLEARED IHRWOH ITS 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Screams S0N,14,1 Cory. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Nev York, Nee York 10179 O-4Mo:elven Conte North Beccioon. New Toot 11201.3859 STEARNS FINANCIAL TRUST CO INC 3 c/ STATEMENT PERKO March 1.2003 THROUGH March 28.2003 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER AMBER On File THS PEW° YEAS TO DATE THIS PERICO LAST STATEMENT February 28.2003 Opening Balance $385.775.82 Govt. Agency Int. 962,655.39 2.847.399.28 Corp. Bond Int. 134,082.87 269,971.75 Securities Sold 5.010,034.50 Credit Balance Int. 64.72 192.52 Dividends Interest 1,096,802.98 Reverse Repurchase Int. 77.08 3.591.32 Miscellaneous 205,279.34 Total $1.096.880.06 $3.121.154.87 Amount Credited •.312.116.82 Bond Purchase Int. • -30,981.48 Securities Bought 1.270.120.19 Miscellaneous -154A90.17 Amount Debited $ .424.610.36 Portfolio Composition CashiCash Equivalent 273.282 Net Cash Activity -112.493.54 Fixed Income 24.075.942 Closing Balance $273,282.28 Total $24,349,224 Your Portfolio Allocation Cash Balance Summary OPENING CLOSING Cash 8 EquroYenl 1% Margin 385.775.82 273.282.28 Net Cash Balance $385.775.82 $273282.28 I— Fixed Income 99% Un•JvaeS croons acne* oat crone.• onto eho•I male wive, The olecom Portent''.• ty dtmod Icon to '0191A* motet rat), ol,ev palloo 027 032903:10:54 001 7642 EFTA00195740 CLEARED THROUGH ITS vniCkLY OW,E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, 14,1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Ore Metsolech CarrIN North Beccidon. New Ye* 11201 3959 STEARNS FINANCIAL TRUST CO INC 4 vi !rt STATEMENT PERKO March 1.2003 THROUGH March 28.2003 Your Portfolio Holdings ACCOUNT NUMBER TAXPAYER MAURER On Fee CASH & CASH EQUIVALENTS LAST STATEMENT February 28.2003 MAWS ESIIMAIED CUAPENT or:scan-ion S•MSCL °SIP QUANTITY PACE VALUE ANVJAL IntWE VSO I%) CASH BALANCE 273,282 TOTAL CASH & CASH EQUIVALENTS 5273.282 FIXED INCOME Government & Agency Obligations ACC ACCRUED ESTRUM° CURFEW DESCRIPTION sir/ea:cosi> TYPE GUMMY PRICE MARKET VALUE INTEFEST ANNUAL INCOME YEW 119 FEDERAL NATIONAL MTG ASS MRGN 1327.543 97.6300 1.153.880 1153 738,250 10.3196 SERIES 2003-16 CLASS JS DATED DATE 01/06203 BOOK ENTRY ONLY DUE 03/25/2018 10.075% FACTOR - .99054310 FEDERAL HOME LOAN MTG CORP 1111111. MRGN 51.599.311 10.3259 5.328.097 114.036 3.157.878 59.2684 SERIES 2530 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY DUE 02/1512032 1120% FACTOR - .8599 60 FEDERAL HOME LOAN MTG CORP MRGN 22.133,676 9.2919 2.056.646 45,719 1.266,046 61.5588 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 0'2/15/2032 5.720% FACTOR - .85998860 FEDERAL HOME LOAN MTG CORP MRGN 68.654.407 2.7988 1.921.493 24.794 686.544 35.7297 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.000% FACTOR - .80769890 027 012003:10:S4 001 V642 EFTA00195741 CLEARED THROUGH ITS niCkLY OW,EO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, 14,1 Cory. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Ore Montech Car:Ng North BecciCon. New Ye* 11201 3859 STEARNS FINANCIAL TRUST CO INC 5 I !2 STATEMENT PERK* March 1.2003 THROUGH March 28.2003 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER AVO3ER On Flk LAST STATEMENT Petirtguy 28.2003 Government & Agency Obligations (continued) ACCT ACCRUED ESTIAMED CURFENIT DESCRIPTION SYLSOUOJSP TYPE ouvonv PRICE MARKET VALLE MEREST ANNUAL INCOME VELD IV FEDERAL HOME LOAN MTG CORP MRGN 46.903,416 9.3921 4.405.222 96,882 2.682,875 60.9022 SERIES 2483 CL SL DATED DATE 07/02402 BOOK ENTRY ONLY DUE 03/15/2032 5.720% FACTOR — .81309650 Total Government& Agency Obligations $20.865.338 $287.584 $8.531.593 Corporate Bonds ACV ACCRUED mammy CURFEW, DESCRIPTION SWOCLCUSP TYPE OUAMITY PRICE MARKET VALLE INTEREST ANNUAL INCOME VELD IN/ FANNIE MAE CMO/SERIES 2002-82 MRGN 23,523.322 13.6486 3,210.604 13.222 1.586,648 49.4190 SK-VO FUR DATED DATE 10/02102 BOOK ENTRY ONLY DUE 10/25/2031 1745% FACTOR — .94093290 Total CorporateBonds $3210.604 $13.222 $1.586.648 TOTAL FIXED INCOME $24.075.942 $300.806 $10.118,241 YOUR TOTAL ACCRUED INTEREST $300,806 YOUR TOTAL ESTIMATED ANNUAL INCOME $10.118.241 YOUR PRICED PORTFOLIOHOLDINGS $24,349,224 027 CO2003:10:54 001 V642 EFTA00195742 CLEARED IHRWOH ITS Nieto, Oun.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Steaks Seorther GOO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Ore Mevolech Comet North Beccia0n. New Year 11201 3959 STEARNS FINANCIAL TRUST CO INC STATEMENT PERIOD March 1.2003 THROUGH MarCh 28.2003 ACCOUNT NUMBER Repurchase and Reverse Repurchase Transactions TAXPAYER MANER On Fite with Bear,Stearnsand Co.Inc. outstanding as of date of statement LAST STATEMENT Fetwuery 2B. 2003 PLOGINSS REPURCHASE PRONG PURCHASE PRIES ACCRUED REPO CAMARITY START DATE DATE PATE FOINGPAL MEREST' (FACE AMOUR) CUSP DESCRIPTION YOU SOLD FEDERAL HOME LOAN MTG CORP (REPO) 02/28/03 05/07/03 1.580 -3,680,000 -5,006 -50,000,000 SERIES 2488 CLASS SO 03 15 32 YOU SOLD FNMA-SMBS PRINCIPAL ONLY (REPO) 03/19/03 04/21/03 1.550 -3.032.000 1.566 -5,000,000 SERIES 322 CLASS PO 03,01;32 TOTAL REVERSE REPURCHASETRANSACTIONS • • TOTAL REPURCHASE TRANSACTIONS $1712.000 $ 1572 'As stskams, Transaction Detail INVESTMENT ACTIVITY SETTLENEM MADE DATE DATE 12ANSICTON OESCRPTION STINIOUCUSTP OUNFTITY ?ma DEBIT AMOUNT GRECO AMOUNT 03/12/03 JOURNAL FEDERAL HOME LOAN MTG CORP -2 SEFUES 2526 CLASS SI 5,660 DUE 02/15/32 03/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -2.852.000 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 03-16-03 03/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -339 SERIES 2471 CLASS VT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 03-15-03 027 03 2903:10.&4 001 EFTA00195743 CLEARED 1HRCOGH ITS vniCkLY ONT+E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 808f. SZeinn Seoankf COP Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Cc* Mevolech CarrIN North BroPron. New re* 11201.3859 STEARNS FINANCIAL TRUST CO INC I 0 !2 STATEMENT Pew) March 1.2003 meatier March 28.2003 Transaction Detail (continued) ACCCUNT NUMBER ■ TAXPAYER AMMER 00 File INVESTMENT ACTIVITY (continued) LAST STATEMENT Fetwuery 26.2003 SETTLEMENT TRADE DATE DATE TRANSACTON DESCRPTION SYMEIO CUSP 43CANiire NICE DEBIT AMOUNT CREDIT A/hOcter 03/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -2.366.000 SERIES 2483 CI. SL 5.720 DUE 03/1532 PRINCIPAL REDUCTN 03-15-03 03/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP .236 SERIES 2483 CL SI. 5.720 DUE 03/15/32 PRINCIPAL REDUCTN 03-1593 03/17/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP .2.422.000 RIES 2530 CLASS SE 03/17/03 PRINCIPAL I:.120 DUE 02/1532 INCIPAL REDUCTN 03-15-03 FEDERAL HOME LOAN MTG CORP 836 SERIES 2530 CLASS SE .120 DUE 02/15/32 RINCIPAL REDUCTN 03-15-03 03/19/03 03/17/03 BOUGHT FEDERAL NATIONAL MTG ASSN 4.042.946 89.34375 3,612,120.19 STRIP MTG SERIES 322 CL PO 00.001% REF # BS 03./25/03 PRINCIPAL FANNIE MAE C/AUSERIES 2002-82 .442.336 SK-113 FLTR 1. 713 DUE 10/2531 INCIPAL REDUCTN 03-25-03 03/25/03 PRINCIPAL FEDERAL NATIONAL MTG ASS .69.957 SERIES 2003-16 CLASS JS 10.000 DUE 03/25/18 PRINCIPAL REDUCTN 03-25-03 01+25103 PRINCIPAL FEDERAL NATIONAL MTG ASS 69.957.42 SERIES 2003-16 CLASS JS 10.000 DUE 03125/18 PRINCIPAL PAYMENT 03-25-03 TOTAL $-3.612.120.19 $69.957.42 027 012903:10:54 001 v642 EFTA00195744 CLEARED THRWGH ITS niCkLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, t4,1 COO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Ore Mevolech CarrIN North Beccidon. New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC 8 vi !2 STATEMENT PERIOD March 1.2003 THROUGH March 28.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER WESER OR File INTEREST LAST STATEMENT Edam), 28.2003 DATE DESCRPTION STMEIOUVUSIP GUMMY RATE IY4 DEBIT AMOUNT GREW AMOUNT 03/03/03 AVG BAL 136.2651101. 64.72 021 OFFICE INTEREST 03/17/03 FEDERAL HOME LOAN MTG CORP 1.0000 49,492.72 DUE MOSSI SS 1000 INTEREST PAYMENT 03-15.03 0i.117 rtliEtik Ht$K4EMITATOTEArs 5.7200 L, .52 SOWS 2483 CL SL INTEREST PAYMENEheR-03 03/17/03 FEDERAL HOME LOAN MTG CORP 6.7200 237,017.33 SEBES 2488 CLASSII; owns REPO P 81 .6600 03/17/03 FEDERAL HOME LOAN MTG CORP SB1ES 2530 CLASS SE ISM 6.1200 272,811.87 RREPAVI947!Rem 03/17/03 FEDERAL HOME LOAN MTG CORP 5.7200 109.299.12 SB1ES 2526 CLASS SI nag% °to, REPO PSI 5.6600 03/25/03 FANNIE MAE CMG/SERIES 2002-82 6.7130 134.082.87 sKI wi FRevag 725-03 03/25/03 FEDERAL NATIONAL MTG ASS 10.0000 61.645.83 SOWS 2003-16 CLASS JS WakiralWENT ITHVO3 TOTAL $1.096.802.98 027 032903:10:54 001 ',642 EFTA00195745 CLEARED THROUGH DS volOtlY OHNE° SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SONH*1 COO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 CeoLlevolech Canto North Becdoon. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC 9 STATEMENT PERK* March 1.2003 THROUGH March 28.2003 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER ARAMBER On Flk REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS LAST STATEMENT Februant 28.2003 with Bear,Stearns& Co.Inc. SEDLEMETO TRADE DATE 03/07/03 DATE TRANSACTION JOURNAL Da DES:RP-ICH EE SERms ctiattWAN MTG CORP STMEICUCUSIP °PARITY -23,172,958 OMIT AMOUNT CREDO AMOUNT 5,660 FITM RP RP OPEN 03/17/03 JOURNAL FEDERAL HOME LOAN MTG CORP 22.133.676 SERIES 2526 CLASS SI 5,720 02115/32 FITM RP TERM RP TERM 03/18/03 JOURNAL ADP 1.150,000.00 FITM-PR 31249 0319/03 JOURNAL FEDERAL NATIONAL MTG ASSN -4.042.946 3.032.000.00 STRP MTG SERIES 322 Cl PO 0.001 32 FITM RP RP OPEN JOURNAL ADP FITM-PR MIN 758,000.00 1/49 JOURNAL ADP FITM-PR MEI 1.150.000.00 /4 INTEREST ADP CD 57.50 DUE 12/3 03/21/03 JOURNAL ADP 750,000.00 FITM-PR 8.625 027 032903:10:54 001 V642 EFTA00195746 CLEARED THROUGH ITS witekLY 0%M.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirhs SOC,r44,1 COO. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York, New York 10179 0 -41km:tech Centec North Beccidon. New VC* 112013959 STEARNS FINANCIAL TRUST CO INC 10 STATEMENT PERIOD Mann 1.2003 THROUGH March 28.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER NUMBER On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT February 28.2003 SETTLEMENT TANX DATE CATE TRANSACTION DESCRP1Cli SAIEIC‘CUSIP OVANTITY DEBIT AMOUNT CREDIT AMOUNT 03/211 JOURNAL 758,000.00 FITM-PA 8-625 OpE 31/49 03/211 INTEREST ADP CD 19.58 DUE 12/3 BON OnglarilorigtoUTAV 24.230.967 SERIES 2471 CLASS YT 1,000 DUE / FITMARG RP TERM RP TERM 03/28/03 JOURNAL FEDERAL HOME LOAN MTG CORP .12,115.483 SERIES 2471 CLASS YT 1,000 DUE i FirMARG 1 RP OPEN RP OPEN TOTAL $-2058.000.00 $4,940,077.08 MISCELLANEOUS DATE MOAT TPANSACT'GN DESCRIPTION DEBIT AMOUNT CPECIT AMCchT 01/12/03 JOURNAL FEB 03 SPEC CLEARING FEES 400.00 03/14103 JOURNAL FITM TO FITG 112.066.00 03/17/03 JOURNAL FITM TO FITG 20.813.00 03/18103 JOURNAL FEDERAL HOME LOAN MTG CORP 21.211.17 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PSI TRIVER 027 OG,2B03:10:54 001 1642 EFTA00195747 CLEARED IHRWOH ITS ?AIM? (MILE° SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beef. SZeirns SONH*I Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Ceolkesolech Car:Ng North BecdO/n. New Ye* 11201.3859 STEARNS FINANCIAL TRUST CO INC 11 CI 12 STATEMENT PERIOD March 1.2003 THROUGH March 28.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NLIESER On He MISCELLANEOUS (continued) LAST STATEMENT February 28.2003 DATE wen TRANSACTION DESCRIPTION DEBIT AMOUNT CREW !MOUNT 03/18/03 JOURNAL FEDERAL HOME LOAN MTG CORP 21,211.17 SERIES 2471 CLASS YE 1.000 DUE 03/15/32 RECLASS P&I 03/19/03 JOURNAL FEDERAL HOME LOAN MTG CORP 21.211.17 SERIES 2471 CLASS YT 1.000 DUE 03/15/32 PSI TIANFR 03/20/03 JOURNAL FITG TO FITM 162857.00 TOTAL 6-154,490.17 $205.279.34 Trades Executed Pending Settlement SETTLEMENT TRADE DATE DATE TRANSICTIDN DESORPTION STME/OLCUSP GUMMY Prim DEW AMOUNT CPEOrr A1.101.RIT 04/14/03 01/27/03 BOUGHT FNMA-30YR(FNMA)GTD 10,000,000.00 100.6093 10,060,937.50 SETT.04/03 DUE 04/01+2033 05,500% REF # BS 04/14/03 02/04/03 BOUGHT FNMA-30YR(FNMA) GTD 10.000.000.00 100.9375 10.093,750.00 SETT84 03 DUE 04 01x2033 05,500% REF # BS 04/14/03 03/24/03 SOLD FNMA-30YR(FNMA) 61D IIIII -20.000.000.00 101.3515 20.270.312.50 SETT,04;03 DUE 04012033 05,500% REF # ES 027 0329,0300:54 001 '1642 EFTA00195748 CLEARED THRWGH ITS wriCkLY OtM.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Sea•ns SON, t4,1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Ore Mevolech Contof North Becck/on. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC 12 v? STATEMENT PERKO March 1.2003 THROUGH March 28.2003 ACCOUNT NUMBER Trades Executed Pending Settlement (continued) TAXPAYER NUMBER ON File LAST STATEMENT Faxing 28.2003 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRPTION S➢MBOLCUSP ONNTITI PRICE DEBIT AMOUNT CP£GI MAOUN1 05/14/03 03/24/03 BOUGHT FNMA-30YR(FNWt)GTD 20,000,000.00 100.9375 20,187,500.00 SETT,05/03 DUE 05001/2033.05,500% REF # 5$ TOTAL $40.342.187.50 $20270.312.50 1Io 463a, kid., 63 not *poor in wry othot soctron 01 ihe staiornone End of Statement 027 032903:10:54 001 Y602 EFTA00195749 CLEARED THRCOGH nS WHOLLY 01MMED $UOSIOIAAY OFFICE SERVICING YOUR ACCOLM seer. SIAMnS S00011(4 Corp. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Ono Mevoloch Confer North Errecklgn. New VW' 1120/3859 STEARNS FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE GNMA GOVT BOND STATEMENT PEF000 February 1.2003 VISIT OUR WEBSITE wvnv.bearstearns.com THROUGH February 28.2003 ACCOUNT NUMBER What's In This Statement 1111,111111111111 II TAXPAYER NUMBER On Ale LAST STATEMENT January 31. 2003 Financial Summary 3 FINANCIAL TRUST CO INC 4 C,I0 JEFFREY EPSTEIN Your Portfolio Holdings 6100 RED HOOK QUARTER Transaction Detail STE 63 Trades Not Yet Settled 11 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio TOTAL VALUE OF SECURITIES THIS PEROD 23.198.123 Cash a Equrealent 4 $385.776 I $517 LONG ACCRUED INTEREST 307.301 Reed $23.198.123 NET CREDIT BALANCE 385.776 Income $22.463$38 Current market value NET EQUITY TINS PERIOD $23.891200 [SE Last statement's market value NET EQUITY LAST STATEMENT 22,986.053 CHANGE SINCE LAST STATEMENT 905.147 There are no 'Stop Lose orders or other pending buy or sell open orders on file for your account. SIK Tta SOTSYWYK 10, 00:01.80, 01Nooses way. a ls not MOM natal docurert Tars surtanwra NNW be retained for your records So wane S. fa grandam planuaton 027 0101.03:13:10 001 V641 EFTA00195750 CLEARED 1HROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, t4,1 COO. Ceol.levolech Cantot North Broeklln• Hew Volt 11201.3859 FINANCIAL TRUST CO INC 2 oi 11 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0101,03:13:10 001 V641 EFTA00195751 CLEARED 1HRWGH nG niCkLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns S0N, t4,1 Cory. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 OtoMetsolech Contec North Beccidon. New Tuft 11201.3859 STEARNS FINANCIAL TRUST CO INC 3 ci STATEMENT PERIOD February 1.2003 THROUGH February 28.2003 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER WEBER OR PIM MS PERIOD YEAR TO DATE THIS PERIOD LAST STATEMENT January 31.2003 Opening Balance $516.74 Govt. Agency In?. 929,766.24 1.884.743.89 Corp. Bond Int. 135,888.88 135,888.88 Secudties Sold 35.413.423.41 Credit Balance Int. 127.80 127.80 Dividends/Interest 1,065,782.92 Reverse Repurchase Int. 2.187.59 3.514.24 Miscellaneous 169,239.08 Total $1.067.970.51 82.024.274.81 Amount Credited $36.648.445.41 Bond Purchase Int. -8.333.33 -30,981.48 Secudties Bought -36,253,953.00 Dividends/Interest Charged -8.333.33 Miscellaneous -900.00 Portfolio Composition Amount Debited $-36.263,186.33 Cashtash Equivalent 385.776 Fixed Income 23.198,123 Net Cash Activity 385,259.08 Total $23.583.899 Your Portfolio ClosingBatance $385.775.82 Allocation Cash & Equivalent Cash Balance Summary OM. NG CLOSING Margin 516.74 385,775.82 Net Cash Balance $516.74 $385,775.82 L Axed Income 99% Untivoecl Frown demo* debt beano, 'not, Or, male vela, Tha elocabcn percents,' ts 0rotr0 Iron Ito othor.te r' *et %VV. Or >EV Dalton 027 03.01,03:13:10 001 v&41 EFTA00195752 CLEARED THROUGH ITS niCkLY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON•44,1 C0,8 BEAR Bear. Stearns & Co. Inc. Ore Metsolech Contot North 383 Madison Avenue Beccidon. New Yak 11201.3859 STEARNS New York New York 10179 FINANCIAL TRUST CO INC 4 r, STATEMENT PERK* February 1.2003 THROUGH February 28.2003 Your Portfolio Holdings ACCOUNT NUMBER TAXPAYER NL.WEER On PIM CASH & CASH EQUIVALENTS LAST STATEMENT January 31.2003 MAPJ<ET ESIILIAIED CURRENT oTscRRnou SOMBCCOSO QUANTITY PACE VALUE NWJAL Intelle VELD 1%) CASH BALANCE 385,776 TOTAL CASH & CASH EQUIVALENTS $385.776 FIXED INCOME Government & Agency Obligations ACCT ACCRUW ESTEIME0 CURFEW DESCRPTION suieCLcusu TYPE °LANETT PRICE MARKET VALLE MEREST ANNUAL INCOME YEW 119 FEDERAL HOME LOAN MTG CORP MRGN 54.022.147 9.3962 5.076.007 118,218 3.273,742 64.4944 SERIES 2530 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY DUE 02/15/2032 060% FACTOR .9003 20 FEDERAL HOME LOAN MTG CORP MRGN 23.172.960 8.5799 1.988.216 47.364 1.311.590 65.9682 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5.660% FACTOR .90036920 FEDERAL HOME LOAN MTG CORP MRGN 59,391,262 2.8431 1.688.559 21,448 593,913 35.1728 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.000% FACTOR .84844660 FEDERAL HOME LOAN MTG CORP MRGN 49.269.652 8.5352 4.205.264 100.700 2.788.662 66.3136 SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2032 5.660% FACTOR - .85411650 027 0301.03:13:10 001 VSA1 EFTA00195753 CLEARED THROUGH ITS wisC5LY 005E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BOY. SZeirns SOCKKM0 COP. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Ore Montech Canto North Beccioon. New re* 11201.3859 STEARNS FINANCIAL TRUST CO INC 5 STATEMENT PERK* February 1.2003 THROUGH February 28.2003 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER AVOTER On Flk LAST STATEMENT January 31.2003 Government & Agency Obligations (continued) ACC' ACCRuED (STOWED CURFENT DESCRPRON SYLSOLCUSP TYPE 0.AATiT• PROF MARKET VALUE NTEPEST ANNUAL INCOME YELD 119 FEDERAL NATIONAL MTG ASS MRGN 1.397.500 98.5347 1.289.104 1.164 739,750 10.1487 SERIES 2003-16 CLASS JS INTEREST FROM DATE 02/25/03 DATED DATE 01/06/03 RRST COUPON 03/2572003 BOOK ENTRY ONLY DUE 02/25/2033 10.000% FACTOR — 1.00000000 Total Government& Agency Obligations $20.247.150 5293.894 58.707.657 Corporate Bonds ACCT ACCRUED ESTIMIED CURFENT DESCRiMON SY7A3CLCUSP TYPE DUMMY PRICE MARKET VALUE INTEREST ANNUAL tiCOME %MID I%) FANNIE MAE CM0/SERIES 2002-82 MRGN 23,965,658 12.3133 2.950.973 13.407 1.608.815 54.5181 SK-I/O FLTR DATED DATE 10/02/02 BOOK ENTRY ONLY DUE 10/25/2031 I.713% FACTOR — .95862633 Total CorporateBonds $2.950.973 $13.407 $1.608.815 TOTAL FIXED INCOME $23.198.123 5307.301 $10.316.472 YOUR TOTAL ACCRUED INTEREST $307,301 YOUR TOTAL ESTIMATED ANNUAL INCOME $10.316.472 YOUR PRICED PORTFOLIOHOLDINGS $23.583.899 027 03.01D3:13:10 001 %Tao EFTA00195754 CLEARED THROUGH ITS ~MY 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Best. SZea'n5 SOCY'dMi GOO. Bear. Stearns 8 Co. Inc. BffiR 383 Madison Avenue CC* Metselech Cent« North Beecidon. New Yak 112014859 STffiRNS New York New Yolk 10179 FINANCIAL TRUST CO INC STATEMENT PERKO February 1.2003 THROUGH February 28.2003 ACCCUsIT NUMBER Repurchase and Reverse Repurchase Transactions TAXPAYER WEBER CONE with Bear,Stearnsand Co.Inc. outstanding as of date of statement LAST STATEMENT January 31.2003 PINICtuar REPURCHASE PRCING PURCHASE PRICE; ACCRUED REPO oummTv START DATE DATE PATE PAINCPAL MEREST(FACE MOUND CUSP DESCRIPTOR YOU SOLD FEDERAL HOME LOAN MTG CORP (REPO) 02/28/03 OSD7/03 1.580 -3.680.000 -484 -50.000.000 SERIES 2488 CLASS SO 03/15/32 TOTAL REVERSE REPURCHASE TRANSACTIONS TOTAL REPURCHASE TRANSACTIONS $-3.680.000 $-484 Rs or slakenfil dege Transaction Detail INVESTMENT ACTIVITY SETREMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMBOLCUSP OVANTITY PRICE DEBIT AMOUNT CRECIT AMOUNT 02/13/03 01/08/03 BOUGHT FNMA-30YR(FNMA) GTD 10.000,000 101.43750 10,143,750.00 SETT,02/03 BS 02/13/03 02/04/03 CANCEL SELL FNMA-30YR(FNMA)GTD 10.000.000 101.76953 10.176.953.00 SETT,02/03 05.500% REF # BS AS OF TO CA PREVIOUS SELL 027 03DID3:13:10 091 VC41 EFTA00195755 CLEARED THROUGH RS yogkly °MED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SOC‘,4*1 OP/P. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Ore Metsclech OarrIN North Beccidon. New Yuk 112014859 STEARNS FINANCIAL TRUST CO INC IO STATEMENT PERK* February 1.2003 THROUGH February 28.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER On FIk INVESTMENT ACTIVITY (continued) LAST STATEMENT January 31.2003 SETTLEMENT TRADE DATE DATE -RANSACI1ON MORMON SYMITTO CUSP OVANTITY 'P.CE DEBIT AMOUNT vizor( Waite 02/13/03 01/0803 CANCEL BUY FNMA-30YR(FNMA)GTO -10,000,000 101.43750 10.143.750.00 SETT,02103 05,500% REF # 88 AS OF 17 TO CM. PREVIOUS BUY 02/13/03 02/00/03 SOLD FNMA-30YR(FNMA) GTD -10.000.000 101.76953 10,176,953.00 SETT,O27O3 8S 02/18/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -1,931.000 SERIES 2471 CLASS YE 1.000 DUE 03/15/32 PRINCIPAL REDUCTN 02-I5-03 02/18/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -398 SERIES 2471 CLASS YE 1.000 DUE 03/I 5/32 PRINCIPAL REDUCTN 02-15-03 02/18/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP •1,602,000 SERIES 2483 CL Si 5.660 DUE 03/15732 PRINCIPAL REDUCTN 02-15-03 02/18/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -205 SERIES 2483 CL Si 5.660 DUE 03/I 5/32 PRINCIPAL REDUCTN 02-15-03 02/18/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -1.388.000 gERIES 2488 CLASS SO 1,660 DUE 03/I 5732 PRINCIPAL REDUCTN 0245-03 /12 /1105 FfilNIPAL rook HoMET641FitniSAP -790 RIES 2488 CLASS SO I: ,660 DUE 03/15/32 INCIPAL REDUCTN 02-15-03 02/ 03 01 03.13:10 001 v6.41 EFTA00195756 CLEARED THROUGH ITS wilekLY OHnE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns S0N•44,1 Dap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New Y New York 10179 Dec Mem:tech CarrIN North Becci0on. New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC 8 STATEMENT PERK* February 1.2003 THROUGH February 28.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER WIRER On File INVESTMENT ACTIVITY (continued) LAST STATEMENT January 31,2003 SETTLEMENT TRADE DATE DATE TRANSACTKIN DESORPTION STME/OLCUSIP WNW ',FEE DEBIT AMOUNT CROW MONO 02/18/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -1,991,000 RTES 2530 CLASS SE .030 DUE 02/15/32 INCIPAL REDUCTN 02-15-03 02/18/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -819 ZEFUES 2530 CLASS SE li.030 DUE 02/15/32 PRINCIPAL REDUCTN 02-15-03 02/18/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -854.394 SERIES 2526 CLASS SI 5.660 DUE 02/15/32 PRINCIPAL REDUCTN 02-15-03 02/25/03 PRINCIPAL ra.vo FANNIE MAE CMO/SERIES 2002-82 FLTR .697 DUE 10/25/31 INCIPAL REDUCTN 02-25-03 -381,733 02/28/03 02/03/03 BOUGHT FEDERAL NATIONAL MTG ASS 10.000.000 96.31250 9.631,250.00 SERIES 2003.16 CLASS JS ACCR. INT. 8,333.33 10.000% REF # 85 AS OF 02/28/03 02/27/03 SOLD FEDERAL NATIONAL MTG ASS -1.177.500 96.31250 1,134,079.69 SERIES 2003.16 CLASS JS ACCR. INT. 981.25 10.000% 85 02/28/03 02/27/03 SOLD FEDERAL NATIONAL MTG ASS -1,425,000 96.31250 1,372,453.13 SERIES 2003.16 CLASS JS ACCR. INT. 1,187.50 10.000‘,, REF # 85 TOTAL $-29,960,286.33 $22,829,404.57 027 03.01,03:13:10 001 VOA1 EFTA00195757 CLEARED THRCOGH ITS ~MY OnnE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Rest. Szeirns 300:thel Dap. Bear. Stearns & Co. Inc. BffiR 383 Madison Avenue New Y New York 10179 Cc* Meecieni Cantu North BA:dom. Ne.re,ix I2DI.38S9 STMRNS FINANCIAL TRUST CO INC 9 c, STATEMENT PERKO Penang 1.2003 THROUGH February 28.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER WEBER On Elie INTEREST LAST STATEMENT January 31.2003 DATE DESCTOPTKON SYMBOUDUSIP OUONMY RATE IY4 CENT AMOUNT CREDIT AMOUNT 02/03/03 AVG BAL 257,707RT 12720 021 OFFICE INTEREST 0 02/18/03 FEDERAL HOME LOAN MTG CORP 1.0000 51,102.22 BMITIr s 000 INTEREST PAYMENT 02-15-03 5fliMS'ntiEtiAL HMET154112Maffirs 5.6600 238.673. SERES 2483 CL SL fglfiklIsieiNT 61Ve03 02/18/03 FEDERAL HOME LOAN MTG CORP 243.622.75 SERE wi RS m 24588 m0W3340.61%0.03 02/18/03 FEDERAL HOME LOAN MTG CORP 281,470.21 BEIMe2OWS5t030 INTEREST PAYMENT -15-03 02/18/03 FEDERAL HOME LOAN MTG CORP 5.6600 112,728.33 DUE tar S 51660 INTEREST PAYMENT 02-15-03 02125/03 FANNIE MAE CMG/SERIES 2002-82 135,888.88 SK-1/13 wa a F, LTR 50 " 57.03 TO AL $1.063.614.17 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear,Stearns& Co.inc. SEOLEMENT TRADE DATE DATE TRat.$z0-}0/1 DE:CRP-ICU 3/1.1DDLCDSIP OLANTITY DEE0T A1.10:pr CREDr A1.100,2 02/20/03 JOURNAL ADPrit 2,602,000.00 FITM-PR 02/ O3 01 O3.13:10 091 vG41 EFTA00195758 CLEARED THROUGH ITS NICELY 001E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BOR. SzeaTs Sec T*1 COT/ Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New Y New York 10179 Ore Mevolech Cella North Beccidon. New Ye* 112014859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERIOD February 1.2003 THROUGH February 28.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER NUMBER On Fie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT January 31.2003 SETTLEMENT TRADE DATE DATE TRANSACTOR DESCRIriCti Ol MITT DEBIT AMOUNT CREDIT AMOUNT 02120U JOURNAL 2.602.000.00 FRAN 8625MIE 12131/49 02/20, 2.602.000.00 8 .700.000.00 INYEiliftY AVM DUE 12/3 02/28/03 JOURNAL FEDERAL HOME LOAN MTG CORP -42.705,825 3.680.000.00 ES 2488 CLASS SO 66 0 DLE 1 2 ATM RP OPE RP OPEN 02/28 3.700.000.00 02/281 INTEREST ADP CD 768.78 DUE 12/3 25 TOTAL $1302.000.00 $12.586.187.59 021 03 OI 03.1 001 1 EFTA00195759 CLEARED THROUGH ns ?mow, OHNE° SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Saea•ns SONH*I Cot. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Cc* Momloch Contof North 8reck/rn. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERIOD February 1.2003 THROUGH February 28.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER On Fee MISCELLANEOUS LAST STATEMENT January 31.2003 DATE MODAY TRANSACTCN DESCRIPTION DENT AMOUNT CREW AP.PUNT 02/13/03 JOURNAL JAN 03 CLEARING FEES 900.00 02/13/03 JOURNAL FNMA-30YR(FNMA)GTD 31203.13 SETT.02/03 5400 DUE 02/01/33 MBS NET 02/131D3 02119/03 JOURNAL FEDERAL HOME LOAN MTG CORP 21800.95 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PSI TRANSFER 02/21/03 JOURNAL FITG TO ATM 114.135.00 TOTAL $-900.00 $169.239.08 Trades Executed Pending Settlement SETTLEMENT TRADE DATE DATE TRANSACTION DESORPTION S10.100,..CUSP 0-ANNT. PRICE DENT AMOUNT CREDIT AMOUNT 04/14/03 01/27/03 BOUGHT FNMA-30YR(FNMA)GTD 10,000,000 00 100.6093 10.060.937.50 SETT.04/03 WE 04/01/2033 05.5130, , REF # BS 04114/03 02/04103 BOUGHT FNMA-30YRIFNMA) GT 0 10,000,000.00 100.9375 10,093.750.00 MIT.0403 DUE 04,012033 05,500,:: REF U BS TOTAL $20.154.687.50 The chore Peon Eo nol (ppm in Tory oilier sabon o1 Iho slaloartet 027 010103:13:10 001 VNt EFTA00195760 CLEARED 1HRWCH nS WHOLLY CIU1E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beet Deeds Sedridt Corp. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Cato Modica Cella North BecciOon. New Ye* 112014859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERIOD January 1.2003 ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSITE wsvw.bearsleams.cOm THROUGH January 31.2003 ACCOUNT NUMBER What's In This Statement 11111111111111111 II TAXPAYER MASSER On File LAST STATEMENT December 31.2002 Financial Summary 3 FINANCIAL TRUST CO INC CAD JEFFREY EPSTEIN Your Portfolio Holdings 4 6100 RED HOOK QUARTER Transaction Detail I STE B3 Trades Not Yet Settled ST THOMAS VI 00802 11 Your Portfolio at a Glance Market Value of Your Portfolio TOTAL VALUE OF SECURITIES THIS PERIOD 22,463,638 Cash 8 Equwalent $517 $24.520 LONG ACCRUED INTEREST 521,898 Ned_ $22.463.638 NET CREDIT BALANCE 517 F.i n lz-ROP9mrqM $13.715.716 Income REIRMWRW 5., Current market value NET EQUITY THIS PERIOD $22,986,053 {0 Last statements market value NET EQUITY LAST STATEMENT 14,249,549 CHANGE SINCE LAST STATEMENT 8,736,503 There are no 'Stop loss' orders or other pending buy or sell open orders on tile for your account. ofinditocad rams oriy is 0% rientled as a tao downers SIM The atnnuld a The stationed should be retailed for yew records See wend NU for rrporlart ricematcn 027 0201.03:15:12 001 t640 EFTA00195761 CLEARED 1NROUON NS YrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, t4,1 COO. Ceol.levolech Cantot North Broeklln• Hew Volt 11201.3859 FINANCIAL TRUST CO INC 2 0l 11 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0201,03:15:12 001 VS40 EFTA00195762 CLEARED THRWOH ITS Yris O95.EO SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Screams S0C.,44.1 COP. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York New York 10179 CeoLletsotech Canto North 8n:dor% New Volt 11201.3859 STEARNS FINANCIAL TRUST CO INC 3 c, STATEMENT ACRID° January 1.2003 THROUGH January 31.2033 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER KINSER On Fee THIS PERIOD mrs PEW° YEAR TO DATE LAST STATEMENT December 31.2002 Opening Balance $24,520.47 Govt. Agency Inl. 954,977.65 954,977.65 Reverse Repurchase Int. 1,326.65 1,326.65 Securities Sold 25.988.373.53 Total $956.304.30 $956,304.30 Dividends Interest 954,977.65 Miscellaneous 14,376,739.01 Bond Purchase Int. -22.648.15 -22,648.15 Amount Credited $41,320.090.19 Securities Bought -25,965,207.77 Portfolio Composition Funds Withdrawn -366.738.00 Cash!Cash Equivalent 517 Dividends Interest Charged -22.648.15 Fired Income 22.463.638 Miscellaneous -14,989,500.00 Total $22,464,155 Amount Debited $-41.344,093.92 Net Cash Activity -24.00333 Your Portfolio Allocation Closing Balance $516.74 Cash Balance Summary Margin Net Cash Balance OPENING 24,520.47 $24,520.47 CLOSINO 516.74 $516.74 027 0201,03:15:12 001 • Fixed Income- 100% UnWooed prawn canoe oat 08,, p, onto. lho.I male wive, The olocom ;events,' is Iron Va obsol.te market rat), 01 )CV polka" V64O EFTA00195763 CLEARED THROUGH ITS ripterri OWLE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BHP. Saea•ns SOPA.* Cot. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Ore Metroiech CANN North Becchrrn. New Yuk 11201.3859 STEARNS FINANCIAL TRUST CO INC 4 c, STATEMENT PER100 January 1.2003 THROUGH January 31.2003 Your Portfolio Holdings ACCOUNT NUMBER TAXPAYER MAGER On File CASH & CASH EQUIVALENTS LAST STATEMENT December 31.2002 IMPXET ESIIMAIED CURRENT oTsCRR-iou Srmeel CvStP aUINTITY PACE VALUE NWJAL VELD INI CASH BALANCE 517 TOTAL CASH & CASH EQUIVALENTS $517 FIXED INCOME Government & Agency Obligations ACCT ACCRUED ESTEAM197 WARM DESORPTION SINSOLCUSP TYPE OUANTITY PRICE MARKET VALLE MEREST ANNUAL INCOME YELD IX/ FEDERAL HOME LOAN MTG CORP MRGN 56.013.966 10.0663 5.638.552 150,120 3.377,642 59.9026 SERIES 2530 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY DUE 02/15/2032 .030% FACTOR .9335 10 FEDERAL HOME LOAN MTG CORP MRGN 24,027.354 9.1396 2.196.011 60.122 1.352.740 61.5999 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5.630% FACTOR .93356610 FEDERAL HOME LOAN MTG CORP MRGN 61.322,660 2.7360 1.677,757 27,251 613,227 36.5504 SERIES 2471 CLASS YT DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.000% FACTOR .87603800 FEDERAL HOME LOAN MTG CORP MRGN 44,094.615 11.6523 5.138.016 129,935 2.923.473 56.8989 SERIES 2488 CLASS SO DATED DATE 07/08/02 BOOK ENTRY ONLY DUE 03/1512032 630% FACTOR — .8818 30 027 02.01,03:15:12 001 VEA0 EFTA00195764 CLEARED THROUGH ITS YiHMV OW,E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirn5 SON, t4,1 COP. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New Y New York 10179 OtoLletsolech Contof North BecciOon. New To* i201.3SS9 STEARNS FINANCIAL TRUST CO INC 5 STATEMENT PER/00 January 1.2003 THROUGH January 31.2003 Your Portfolio Holdings (continued) ACCOUNT NUMBER ■ TAXPAYER NULEER On File LAST STATEMENT December 31.2002 Government & Agency Obligations (continued) ACCRUED ESTE/141El) CURRGNIT DESCRPRON SWA3aCUSP TIrr °VAUNT/ PRICE MARC vALLE MEREST ANNJAL iNCOLIE yELD 174 FEDERAL HOME LOAN MTG CORP MRGN 50,871,897 9.1370 4.648.141 127,293 2.864.088 61.6179 SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2032 5.630% FACTOR — .88189230 Total Government& Agency Obligations $19,298,477 $494,721 $11,131,170 Corporate Bonds ACCT ACCRUED Enemy MAWR DESCRPTION SIMMOUCUSP TYPE OLIANTITY PRICE MARKO VALLE MEREST ANNUAL ROVE YELD FANNIE MAE CMO/SERIES 2002-82 MRGN 24,347,391 13.0000 3.165.161 27,177 1.630,545 51.5154 SK-I/0 FLTR DATED DATE 10/02/02 BOOK ENTRY ONLY DUE 10/25/2031 1697% FACTOR — .97389566 Total CorporateBonds $3,165,161 $27,177 $1,630,545 TOTAL FIXED INCOME $22,463,638 $521,898 $12,761,715 YOUR TOTAL ACCRUED INTEREST $521,898 YOUR TOTAL ESTIMATED ANNUAL INCOME $12,761,715 YOUR PRICEDPORTFOLIOHOLDINGS $22,464,155 027 02.01,03:15:12 001 VS40 EFTA00195765 CLEARED THROUGH nS LIHOLLy OHNE0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Stearn SOC.,M1 Cara Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue NOW Y New York 10179 Ore Metralech Center North Becciorn. New Tux 11201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERIOD January 1.2003 THROUGH January 31.2003 Transaction Detail ACCOUNT NUMBER TAXPAYER YAMMER On FM INVESTMENT ACTIVITY LAST STATEMENT December S1, 2002 SETTLEMENT TRADE DATE DATE TRANSACT/0N OESCRIMON SYMBOL:CUSP GUMMY PRICE DEBT AMOUNT CHEM MOM 01/14/03 12/04/02 BOUGHT FNMA-30YR(FNMA)GTO 10,000,000 100.09375 10.009.375.00 SETT.01103 SS 1/14 arm KR -30Y )f ) Gib 1$,t166.000 101.8867 10.188.671. SETT.01.03 05.50Cnv # SS AS OF 01)08/03 TO CD. PREVIOUS SELL 01/14/03 12/04/02 CANCEL BUY FNMA-30YR(FNk4A) GTD -10.000.000 100.09375 10,009,375.00 SETT.01103 05.500% REF # EIS AS OF TO CXL PREVIOUS BUY 01/14/03 01/08/03 SOLD FNMA-30YR(FNMA)GTO -10.000.000 101 88672 10,188,671.88 SETT.01103 IDUE 01/01/2033 05,500% 01/15/03 PRINCIPAL ripm FEDERAL HOME LOAN MTG CORP BS -2.344.000 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 PRINCIPAL REDUCTN 01-15-03 MOM ?WEAL HoMET641kitralkls -468 SERIES 2471 CLASS YT 1,000 DUE 03/I5132 PRINCIPAL REDUCTN 01-15-03 01/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -1.944.000 SERIES 2483 CL SI. 5.580 DUE 03/15/32 PRINCIPAL REDUCTN 01-I5-03 027 0201,03:15:12 001 V640 EFTA00195766 CLEARED THROUGH ns ?mow, OME0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns S0N•thel Cot. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Ore Metsolech Contof North Beccidon. New To* 11201.3859 STEARNS FINANCIAL TRUST CO INC I II STATEMENT PEF000 January 1.2003 THROUGH January 31.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER NUMBER On FM INVESTMENT ACTIVITY (continued) LAST STATEMENT NKOMO!! 31,2002 SETTLEMENT TRADE DATE DATE TRANSACT/ON OESCRVTION ST1A301AUSIP Cowry PRCE DEBIT AMOUNT CHEM MOM 01/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -917 SERIES 2483 CL SL 5,580 DUE 0315/32 PRINCIPAL REDUCTN 01-I5-03 01/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -1.685.000 ZERIES 2488 CLASS SO 1,580 DUE 03./5/32 PRINCIPAL REDUCTN 01-15-03 01/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP .810 RIES 2488 CLASS SO 01/15/03 PRINCIPAL F 580 DUE 03/15/32 INCIPAL REDUCTN 01-I5-03 FEDERAL HOME LOAN MTG CORP .2.068.000 SERIES 2530 CLASS SE 5,980 DUE 02/15/32 PRINCIPAL REDUCTN 01-15-03 01/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP .44 SERIES 2530 CLASS SE 5,980 DUE 02/15/32 PRINCIPAL REDUCTN 01-15-03 01/15/03 PRINCIPAL FEDERAL HOME LOAN MTG CORP -887.093 SERIES 2526 CLASS SI 5.580 DUE 02/I5/32 PRINCIPAL REDUCTN 01-I5-03 01/30/03 01/27/03 BOUGHT FANNIE MAE CMO/SERIES 2002-82 24.347.391 13.00000 3.165,160.89 SK-VO FLTR ACCR. INT. 22.648.15 OUE 10125/2031 06,697% ll ria AS OF 01/27/03 BS TOTAL $-23.385,855.92 $20,198.046.88 027 0201,03:15:12 001 V640 EFTA00195767 CLEARED THROUGH ITS 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns SON, t4,1 COO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New Y New York 10179 Ore Mevolech CarrIN North Beccidon. New Ye* 11201.3859 STEARNS FINANCIAL TRUST CO INC 8 c, STATEMENT PERK* January 1.2003 THROUGH January 31.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER AMBER Cfl FIM DEPOSITS AND WITHDRAWALS LAST STATEMENT December 31.2002 DEBIT A1AOLBIT CREDIT AMOUNT WIRED TO 84,854.00 01/02/03 FND WIRED WIRED TO 281,884.00 TOTAL $-366.738.00 INTEREST DATE DESCRIPTION SYMOCtCLISIP OUNITITY RATE VC) CENT AMOUNT MEDD AMOUNT 01/15/03 FEDERAL HOME LOAN PEG CORP 1.0000 53,055.94 71 S if ivv, Of-W-03 01/15/03 FEDERAL HOME LOAN MTG CORP 5.5800 245,598.18 SERIES 2483 CL SL IHRIErierfENT 051.-511 1 -03 6171M• MENAI. HMI:MITA A 51,029. SV AIEN4sliL i etri SIS" steam 01/15/03 FEDERAL HOME LOAN MTG CORP 5.9800 289,442.02 SPAIMSc„,„ ~J ot-iran 01/15/03 FEDERAL HOME LOAN MTG CORP 5.5800 115,852.18 BRIVitIOW SS 51,580 INTEREST PAYMENT 01-15-03 TOTAL 9954.977.65 027 0201,03:15:12 001 Y640 EFTA00195768 CLEARED THROUGH n5 vngaly OHNE() SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Szerrns SOC.nbel COO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New Y New York 10179 Cue Metrairch Center North aro:kW% New VC* 11201.3859 STEARNS FINANCIAL TRUST CO INC 9 STATEMENT PER100 January 1.2003 THROUGH January 31.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER MAGER On Pile REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS LAST STATEMENT December 31.2002 with Bear,Stearns& Co.Inc. SEM.EMDO TR/DE DATE DATE TRANSAC11011 DEEC P CU DEBIT AMOUNT CREDIT AMOUNT 01/30/03 JOURNAL m a 2.602.000.00 8 625 DUET 31/09 crux. JOURNAL ADP FITA4PR 5.789.000.00 1/4 01130, INTEREST ADP CD 1.326.65 DUE 12/3 25 TOTAL $-2.602.000.00 $5.790.326.65 MISCELLANEOUS DATE MOVAY TRANSACTION DESCRIPTION DEBIT AMOUNT CREDIT AMOUNT 01/02/03 RECEIVED ADP CD 4.000.000.00 DUE 12131/2049 8.625 8,625 WE 12(31/49 01/02/03 DELIVERED MW CD 1.913.94 DUE 1213112049 8.625 8.625 FiTM PR 01/02/03 DELIVERED ADP CD 4.557.000.00 DUE 12/31,2049 8,625 8.625 ovittei J6UMAL rtd Y6 riYfvf • 027 0201,03:15:12 001 VE40 EFTA00195769 CLEARED THRWGH ITS 0"E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SZeirns S0N, t4,1 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New Y New York 10179 Ore Mevolech Cella NOM Becci0on. New VC* 11201 3969 STEARNS FINANCIAL TRUST CO INC 10 STATEMENT PEF000 January 1.2003 THROUGH January 31.2003 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER WESER On FIM MISCELLANEOUS (continued) LAST STATEMENT December 31.2002 DATE LOWY TRANSACTOR DESCRIPTOR DEED AMOUNT CPEC1T AMOUNT 01/14/03 JOURNAL FNMA-30YR(FNMA)GTD 179,296.88 SETT,01/03 5.500 DUE 01/01/33 MEG NET 01/14103 01/15/03 JOURNAL DEC 02CLF_ARING FEES 500.00 01/16/03 JOURNAL FEDERAL HOME LOAN MTG COFTP 22.738.26 SERIES 2471 CLASS YE 1.000 DUE 03/15/32 PSI TRNFR 01/17/03 JOURNAL PREM NO 1/16 600.000.00 61/17 JOJMAL PREMYWAI6 vie 1.441.11 O1/21/03 RECEIVED ADP CD 4,600,000.00 DUE 12/31/2049 8,625 8,625 FITIA-PR O1/21/03 RECEIVED ADP CD 5.789,000.00 DUE 12/31/2049 8,625 8,625 01/21/03 DELIVERED ADP CD 559.67 NE 12/31/2049 8.625 8.625 DUE 12( 1/4 01/21/03 DELIVERED ADP CD 4.600.000.00 DUE 12/31,2049 8.625 8.625 01/21/03 DELIVERED ADP CD 4,600,000.00 DUE 12/31/2049 025 8.625 027 020I,0316:12 001 VS40 EFTA00195770 CLEARED THRWGH ITS niCkLY 1h.E0 SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Saea•ns SON, t4,1 COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Cr.* Mevolech Center North BecciOon. New Ye* 11201.3859 STEARNS FINANCIAL TRUST CO INC STATEMENT PERK* January 1.2003 THROUGH January 31.2003 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER AmT3ER On File MISCELLANEOUS (continued) LAST STATEMENT December 31.2002 DATE MOM TPANSACTCt% DESCRIPTION DEBT .),ICEIUT CREPT ATAJUNT 01/22/03 JOURNAL FITG TO FITM 413.789.00 TOTAL S.14.989.500.00 $14,376.739.01 Trades Executed Pending Settlement SETTLEMENT TRADE DATE DATE TRANSACTION DESCRPTKIN STM03..CuSP CIPMITY PRICE DEER AMOUNT CREPT MOUNT 02/13/03 01/08/03 BOUGHT FNMA-30YR(FNMA) GTD 10.000.000.00 101A375 10,143,750.00 SETT.02/03 WE 02/01/2033 05.500% REF # 83 04/14/03 01/27/03 BOUGHT FNMA-30YR(FNMA) GTD SETT.04/03 INN 10.000.000.00 100.6093 10,060,937.50 WE 04/01/2033 05.503, REF # BS TOTAL $20.204.687.50 The chow Fan do not epees: in con Ong sedge o1 Me :Worm* End of Statement 027 OZ0110316:12 001 VS40 EFTA00195771