by EFTA← EFTA00196824·EFTA00197034 →

EFTA00196932

Dataset 9

Undated102 pages20,536 words

https://www.justice.gov/epstein/files/DataSet%209/EFTA00196932.pdf

Extracted Text

Statements EFTA00196932 CLEARED THROUGH ITS WHOLLY 01W.IED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Seer. deems SOOWEN, CND. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Ono Mevotech Center Hann 8recklin. New York 1120/3859 STEARNS FINANCIAL TRUST COMPANY INC STATEMENT PERODO December 1.2006 THROUGH December 29.2006 *COMM NUMBER 11111111111111111111111111111111111111111111111 TAXPAYER NUMBER On File LAST STATEMENT NOvernOIN 30. 2006 FINANCIAL TRUST COMPANY INC CIO AMERICAN YACHT HARBOR 6100 RED HOOK SUTE B-3 OUAETERS #2 ST THOMAS VI 00802-1348 Pursuant to your previously issued instructions. Bear Stearns Securities Corp, provides duplicate monthly statements anctior transaction confirmations to the third parties listed on the cover page of this statement. If you wish to modify or cease distribution to any of the recipients indicated, please contact your Account Executive. This reminder notice will continue to be provided to you on your quarterly statements. Third Party J EPSTEIN 8 CO 457 MADISON AVE 4TH FLOOR NEW YORK NY 10022 027 IMO/060923 001 1803 EFTA00196933 CLEARED THROUGH ITS WHOLLY Omar SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Seer. Stearns 54,Oudlin Goo> Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Ono liettotoch Center Noah 8red(Ign. New VGA 1120/3859 STEARNS FINANCIAL TRUST COMPANY INC INVESTMENT PROFESSIONAL ZICHERMANJRA STATEMENT PERIOD December 1.2006 TELEPHONE THROUGH December 29.2006 VISIT OUR WEBSITE Aww.bearstearns.com ACCOUNT NUMBER What's In This Statement Illllllllllllllllllllllllllllllllllllllllllllll TAMAYER NUMBER OR File LAST STATEMENT November 30. 2006 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C.I0 AMERICAN YACHT HARBOR Transaction Detail 6 6100 RED HOOK SUTE13-3 Fund Activity 6 OUAETERS #2 Your Messages 8 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio II any information regarding 2006interest. dividends. Cash & EqurraNnt $26.289.268 miscellaneous income. gross TOTAL VALUE OF SECURITIES THIS PERIOD 61.865.047 839.374.981 proceeds or original issue MONEY MARKET FUND BALANCE 26.289.268 $61,865,047 discount is required to be Equities Air reported to the IRS for this account. a Consolidated Form NET EQUITY THIS PERIOD $88.154,315 Current Market yabe 1099will be mailed to you by lin Last statements market value January 31.20D7or a 1042S NET EOUrrY LAST STATEMENT 85.636.748 by March 15.2007. CHANGE SINCE LAST STATEMENT 2.517.567 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Nemo noon oaf clIforonoo a notwoceire el ctecks or stocks, calcolal as &Woad l0 p5u. Teas sun tan is for eacomboall Imposes only a k not needed as a G. Maned to Gaol Sonic°. al 8004314-1128: a veto to Clam SOM000 a Soot Stoonv &conies Ms outwear shool2 Winans.] for your records Soo worm ofe for reporter< arm titan Cam.. Co. lArhokKli Cello, North. SrooN)”. NY 1120+3059 027 12130,06.0923 001 Ir003 EFTA00196934 CLEARED THROUGH ITS WHOLLY ORIRED SUBSIDIARY Seal. Reams SecudRes Cup Cm Mewled, Conk. North 9roStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 ol e STATEMENT BACKER IS PRINTED ON THIS PAGE 027 12/30030923 001 V003 EFTA00196935 CLEARED THROUGH ITS WHOLLY (AWED SUSSIDIAAv OFFICE SERVICING YOUR ACCOUNT SRN. sown sectweet cote Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Motrotoch Conk. North 9roStlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 3 ti STATEMENT Puce December 1.2006 THROUGH December 29.2006 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER WESER On PIM THIS PERI00 RIG PERIOD YEAR TO DATE LAST STATEMENT NOvelGOIN 30. 2006 Opening Balance $0.00 Dividends 259.732.95 2.561.468.30 Credit Balance Int. 0.00 87.80 Money Fund 24.545.177.95 Total $259.732.95 $2$61.556.10 Dividends/Interest 60.000.00 Miscellaneous 11.000.000.00 Amount Credited 535.605.177.95 Portfolio Composition Securities Bought -14$4$44$00 CasttCash Equivalent 26.289.268 Money Fund -11.259.732.95 Equities 61.865.047 Funds Withdrawn -10.000.000.00 Total $88.154,315 Amount Debited 5.35.605.177.95 Closing Balance $0.00 Your Portfolio Allocation Cash & Equiv 30% sc Eq uities 70% Unteeeti Preen, denote 000* o*r0noo omit, shod rn ,to vas. Tho alocoma pcnomxp m crowed from tO aosolso Audio, maluo os pxe patorio. 027 12/30(080923 001 V003 EFTA00196936 CLEARED THROUGH ITS VOICUY OMMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8081. warns secede* core Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue One Metaled, Conk. North 9toRtlin. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCAL TRUST COMPANY INC 4 STATEMENT PERIOD December 1.2006 THROUGH December 29.2006 ACCCUNT NUMBER TAXPAYER NURSER On RIM LAST STATEMENT Hoyernter 30. 2006 Your Portfolio Holdings CASH & CASH EQUIVALENTS IMMO ESTIMATED CURRENT DESCRPRON SYMEICIJCVSIP Owen PRICE VALUE WIJM. INCOME TOXIN DREYFUS CASH MANAGEMENT -CL A DICA 26,289,268.46 1.0000 26.289.268 1,340.753 5.1000 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 5.1700% TOTAL CASH & CASH EQUIVALENTS $26,289,268 61.340,753 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; LI = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third party research provider and their rating may also be displayed. where such research is available. The various providers use different ratings systems and have normalized them as follows: B = Buy; H = Hold: S = Sell (this may not always correspond directly to the underlying rating system used by each provider or BSC). The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal, or investment advice. Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at wvnv.bearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. AOC! PMPKEI ESTIMATED CURROVT DESCRATION SYMEIWCUSIP TYPE OUANI1TY PRCE VALUE ANNUAL INCOME YEW NI APPLE COMPUTER INC AAPL CASH 120,000 84.8400 10.180.800 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: S BEAR STEARNS COMPANIES INC BSC CASH 130,000 162.7800 21.161.400 166.400 0.7863 CHOICEPOINT INC CPS CASH 100.000 39.3800 3.938.000 027 12/30060923 001 ‘.1'303 EFTA00196937 CLEARED THROUGH ITS WHOU.Y OMIVED SKISIDIATiv OFFICE SERVICING YOUR ACCOUNT 13.N. Warns Seemiees Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York Nee York 10179 One Metaled, Conk. North Sto*kn. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 5 STATEMENT PERIOD December 1.2006 THROUGH December 29.2006 Your Portfolio Holdings (continued) ACCCUNT NUMBER TAXPAYER KISSER On PIM LAST STATEMENT NOveriltoN 30.2006 Equities & Options (continued) AOCT IMPKET ESTIMATED CURFEW DESCRIPTION SYMBOUDSIP TYPE OUANTiTY PRCE VALUE ANNUAL INCOME YIELD IIAl CCIGATE PALMO(JVE CO CL CASH 56.200 65.2400 3.666.488 71,936 1.9620 BSC RATING: STOCK 0/SECTOR MW BUCKINGHAM RESEARCH RATING: 8 DEERFIELD TRIARC CAP CORP CASH 462.691 16.9300 7.833.359 ACCREDITED INVESTORS ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.6900 69,000 WORLDWIDE INC WYNN RESORTS LTD WYNN CASH 160.000 93.8500 15.016,000 BSC RATING: STOCK 0/SECTOR MW WALL STREET STRATEGES RATING: Total Equities& Options $61,865,047 $238.336 TOTAL EQUITIES $61,865.047 $238.336 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $1.579.089 YOUR PRICED PORTFOLIOHOLDINGS $88.154.315 027 12/30(080923 001 V003 EFTA00196938 CLEARED THROUGH ITS VOICUY OMIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BR. Sown Secede* CYO. Bear. Stearns 8 CO. Inc. BEAR 383 Madison Avenue One Metaled, Conk. North 9toStlin. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 6 STATEMENT Pump December 1.2006 THROUGH December 29.2006 Transaction Detail ACCCUNT NUMBER TAXPAYER POWER On PIM INVESTMENT ACTIVITY LAST STATEMENT Norenter 30. 2006 SETTLEMENT TRADE DATE CATE TRANSACTION DESCRIPTION SY1A3OUCUSV awn-. PRICE DENT AMOUNT MDR MOM 12/21/06 12118/06 BOUGHT WYNN RESORTS LTD WYNN 150,000 95.63630 14,345,445.00 UNSOLICITED AVG PRICE SHOWN-DETAILS ON REO WE MAKE A MKT IN THIS SECURITY UNIT PRICE 95.576300 DEFERENCE 0.060000 TOTAL 9-14,345,445.00 DEPOSITS AND WITHDRAWALS L TRANSACTION DESCRPTION DEBIT AMOINT CREDIT AMOUNT 12/20/06 FND WIRED MD FNDS WIRED TO 10,000,000.00 TOTAL $-10,000,000.00 MONEY FUND ACTIVITY DATE LODAT TRANSACTION DESCRIPTION SYMDWCUSIP WNMITY pFaCE Cell AMOUNT CREDIT AMOUNT 12/01/06 OPENINGBALANCE 39,374,980.51 12/01/06 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICA 199.732.95 INSTITUTIONAL SHARES MONTHLY DIVIDEND 12/01/06 REINVEST DREYFUS CASH MANAGEMENT-CL A DIC)C( 199.732.95 199.732.95 INSTITUTIONAL SHARES DIVIDEND REINVEST 12/04/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DIC)C( 60.000 1.0000 60.000.00 INSTITUTIONAL SHARES 027 12/30060923 001 V003 EFTA00196939 CLEARED THROUGH ITS Mae. 0019ED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8418I. Reams Sinner* COM Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue Cm MORINO Conk. North 13,cdtkn. Nov Uric 11201.3859 STEARNS New York Nen York 10179 FINANCIAL TRUST COMPANY INC 7 cln STATEMENT Perim December 1.2006 THROUGH December 29.2006 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER KAMER On PIM MONEY FUND ACTIVITY (continued) LAST STATEMENT November 30. 2006 DATE MOAT TRANSICTICN DESCRIPTION SYMEWCWIP OJAITTY PRICE OMIT AMOUNT CREDIT AMOUNT 12/15/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DOD( 11.000,000 1.0000 11,000,000.00 INSTITUTIONAL SHARES 12/20/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -10,000.000 1.0000 10,000,000.00 INSTITUTIONAL SHARES 12/21/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICU -14,345.445 1.0000 14,345,445.00 INSTITUTIONAL SHARES 12;29/06 CLOSINGBALANCE 26,289,268.46 TOTAL 9-11.259,732.95 $24.545.177.95 DIVIDENDS DATE DESCRIPTION STMEICIMISIP CUMRITY RATE (S) DENT AMOUNT CREDIT AMOUNT 12/04/06 WYNN RESORTS LTD WYNN 10,000 6.0000 60,000.00 REC 11/23116 PAY 12/04/06 TOTAL $60,000.00 MISCELLANEOUS DATE 1.10:DAT TRANSACTION DESCRIPTION DEBIT AMOUNT CREPT MOUNT 12/15/06 JOURNAL FROM • 11,000,000.00 TOTAL $11,000.000.00 027 12/30(080923 001 V003 EFTA00196940 CLEARED THROUGH ITS VOICUY OWNED SUSSIDIAAv OFFICE SERVICING YOUR ACCOUNT SRN. Reams Seceder* Ore. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York Nee York 10179 CceMetrotech Conk. North 9tcc4tDn. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 8 c, STATEMENT PERIOD December 1.2008 THROUGH December 29.2006 ACCCUNT NUMBER TAXPAYER NUMBER On He Your messages LAST STATEMENT NOYeMbN 30. 2006 As part of the National Association of Securities Dealer's (NASD) Investor Education Program, you may obtain information on the NASD's Public Disclosure Program by contacting the NASD at telephone number (800) 289.9999 or via the internet address which is www,nasdr,com, In addition, a brochure explaining the Public Disclosure Program is available from the NASD upon request, End of Statemen 027 12/30(080923 001 V003 EFTA00196941 CLEARED THROUGH ITS WHOLLY OV111JED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT &Hr.Steams Maudees Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue One Mewled, Conk. North 9oxIttin. Nyor York 11201.3859 STEARNS New York Nee York 10179 FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE ZICHERMANARA STATEMENT PERIOD NOYEMINN 1.2006 TELEPHONE ■ THROUGH November 30.2006 VISIT OUR WEBSITE ovnv.bearstearns.com ACCOUNT NUMBER What's In This Statement 11111111111111111111111111111111111111111111111 TAXPAYER OUSSER On File LAST STATEMENT October 31.2006 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C/O AMERICAN YACHT HARBOR Transaction Detail 6 6100 RED HOOK SUTE 6-3 Fund Activity 6 OUAETERS #2 Your Messages 8 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equivalent 539.374.981 TOTAL VALUE OF SECURITIES THIS PERIOD 46,261,767 $20.786.625 MONEY MARKET FUND BALANCE 39,374,981 Equities $46.261.767 $44211.202 NET EOUITY THIS PERIOD $85,636,748 Current market value MO Last statements market value NET EQUITY LAST STATEMENT 65,097,827 CHANGE SINCE LAST STATEMENT 20,538,921 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Roza rop:4 oaf Orbronoo a inntocoti of toots or mocks. (Immo! z dclooroo to ,Cu. lo Clem Somas; of 8001104112e: a vet lo Clom solos a Bow. Stwarra Secumos Cap.. One lActo1odi Carlo. North. Oroo1bri, NY 11201-S859 SIK TNs annerY a fa aormabenal imposes ally. I Is not mended as a tag doo.mers Tin stationers should be craned for your recent Sn revers* Tole for rwalant recemat on 027 12/01/060558 001 1917 EFTA00196942 CLEARED THROUGH ITS YmCuy ORIVED SKISICHAriv Seal. Reams SeWOO. CUR One Mewled, Conk. North 9roStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 of e STATEMENT BACKER IS PRINTED ON THIS PAGE 027 I2/0110605:56 001 V917 EFTA00196943 CLEARED THROUGH ITS VOICUY OMED SUSSIDIAAv OFFICE SERVICING YOUR ACCOUNT See'. warns securion CYO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York Nee York 10179 One Motored, Conk. North 9=40% Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 3 ri STATEMENT PERK* NOOMCRI 1.2006 THROUGH November 30.2006 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER M/493ER OR PIM THIS PERICO TIC PERIOD YEAR TO DATE LAST STATEMENT October 31.2006 Opening Balance 50.00 Dividends 283,387.19 2.301.735.35 Credit Balance Int. 0.00 87.80 Money Fund 10,080,326.79 Total 5283,387.19 52.301.823.15 Funds Deposited 28,304,968.25 Dividends/Interest 203.060.40 Amount Credited 538,588355.44 Portfolio Composition Money Fund -28.588.355.44 Cashreash Equivalent 39.374.981 Miscellaneous -10.000.000.00 Equities 46.261.767 Amount Debited 5.38.588.355.44 Total 585,636.748 Closing Balance 50.00 Your Portfolio Allocation Cash & Equivale 46% Equities son Un*Oeeti Preen, donor* 000* OttenCe wick, shod rn ,to vas. Tro alocoma patomor m crowed from tro absolve mark*, mak* es pxe parboo. 027 12/01/0805:58 001 V917 EFTA00196944 CLEARED THROUGH ITS IMICUY OMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 13.0. sown sectvivet cow Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue Cno Motrotoch Conk. North bcdtlin. New York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 4 STATEMENT PERIOD NOvernter 1.2006 THROUGH Noverncer 30.2006 ACCOUNT NUMBER TAXPAYER MASSER On PIM LAST STATEMENT WOW 31.2006 Your Portfolio Holdings CASH & CASH EQUIVALENTS /MRXEI ESTIMATED CURREN! DESSRPRON VAIECIAUSIP OVAIMIT FR,CE VALVE MNVAL INCOME YELD PO DREYFUS CASH MANAGEMENT -CL A DICA 39,374,980.51 1.0000 39.374.981 2,086.874 5.3000 INSTITUTIONAL SHARES EST. 30 DAY AVG YELD 5.1900% TOTAL CASH 8 CASH EQUIVALENTS $39,374,981 $2.086,874 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third party research provider and their rating may also be displayed. where such research is available. The various providers use different ratings systems and have normalized them as follows: B = Buy; H = Hold: S = Sell (this may not always correspond directly to the underlying rating system used by each provider or BSC). The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal, or investment advice. Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at wvnv.bearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. ACC! IMINCE1 ESTIMATED SURBER'', DESSRPTION SIMEIWOJSIP TYPE EILIANSTY PRCE VALVE ANNUM. P.SOME TELD l'.4 APPLE COMPUTER INC AAPL CASH 120,000 91.6800 11.001.600 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: S BEAR STEARNS COMPANIES INC BSC CASH 130,000 152.4800 19.822.400 145.600 0.7345 CHOICEPOINT INC CPS CASH 100.000 36.7800 3.678.000 027 12,01f0I3D5:58 001 v917 EFTA00196945 CLEARED THROUGH ITS OMIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SOM. SIMMS SONNIOM Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Motrobych Conte. North 9tccItIrn. New York 1120/3959 STEARNS FINANCIAL TRUST COMPANY INC 5 ci STATEMENT PER100 Norenter 1.2006 THROUGH November 30.2006 Your Portfolio Holdings (continued) ACCOUNT NUMBER ■ TAXPAYER MAISER On File LAST STATEMENT OCIDOSI 31.2006 Equities & Options (continued) ACCT IMPKET ESTIMATED CURFIDVT DESCRIPTION SYMBarCUSIP TYPE OUANDTY PRCE VALLE ANNUAL INCOME YELL/ IS) COLGATE PALMClIVE CO CL CASH 56,200 65.0500 3.655.810 71,936 1.9677 BSC RATING: STOCK 0/SECTOR MW BUCKINGHAM RESEARCH RATING: 8 DEEFtFIELD TRIARC CAP CORP CASH 462.691 15.4800 7.162.457 ACCREDITED INVESTORS ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.6300 63,000 WORLDWIDE INC WYNN RESORTS LTD WYNN CASH 10.000 87.8500 878,500 BSC RATING: STOCK 0/SECTOR MW WALL STREET STRATEGES RATING: B Total Equities& Options $46.261.767 $217,536 TOTAL EQUITIES $46.261.767 $217.536 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $2.304,410 YOUR PRICED PORTFOLIOHOLDINGS $85.636.748 027 12,01/01305:58 001 V917 EFTA00196946 CLEARED THROUGH ITS VOICUY OMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8081. warns sectvivet CYO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue Cno Metaled, Conk. North bcdtkn. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 6 STATEMENT PERK* NOYernter 1.2006 THROUGH November 30.2006 Transaction Detail ACCOUNT NUMBER ■ TAXPAYER WESER On PIM DEPOSITS AND WITHDRAWALS LAST STATEMENT October 31.2006 Dtet IPA:a' ON DESCRPRON DEBIT AMOUNT CREDIT AMOUNT 11/03/06 FUNDS REC FNDS WIRED TO CITIBANK FROM 13,552,177.59 11/03/06 FUNDS REC FNDS WIRED TO CITIBANK FROM 14,752,790.66 TOTAL $28,304,968.25 MONEY FUND ACTIVITY DATE LCIDAY TRANSACTION: DESCRIPTION STAIECUCUSIP awn? PRCE MIT AMOUNT CREDIT AMOUNT 11/01/06 OPENINGBALANCE 20,786,625.07 11/01/06 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICA 80.326.79 INSTITUTIONAL SHARES MONTHLY DIVIDEND 11/01/06 REINVEST DREYFUS CASH MANAGEMENT-CL A DICA 80,326.79 80.326.79 INSTITUTIONAL SHARES DIVIDEND REINVEST 11/03/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 28.304.968.25 1.0000 28.304.968.25 INSTITUTIONAL SHARES 11/15/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 17,984 1.0000 17.984.00 INSTITUTIONAL SHARES 11/27/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 185,076.40 1.0000 185.076.40 INSTITUTIONAL SHARES 11/30/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -10.000.000 1.0000 10.000.000.00 INSTITUTIONAL SHARES 027 12/01/0805:58 001 V917 EFTA00196947 CLEARED THROUGH ITS VHICUY OHIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 801. sown UPHAM,. GOO Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Coo Motrotoch Conk. North bccItlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 7 STATEMENT PERK* NOvernter 1.2006 THROUGH November 30.2006 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER PAIUMER On PIM MONEY FUND ACTIVITY (continued) LAST STATEMENT October 31.2006 DATE 1.13.0AT TRANSACTION DESCRIPTION SYLIDOUCUSIP PANTRY PFOCE DEBIT AMOUNT CREDIT AMOUNT 11/30/06 CLOSINGSALANCE 39,374,980.51 TOTAL $-28.588,355.44 $10,080,326.79 DIVIDENDS DESCRPTION STME/WCl/StP CVANTIN FMTE (51 CENT AMOUNT CAECIT WCONT 11/15106 COLGATE PALMOLIVE CO CL 56.200 0.3200 17.984.00 REC 10124106 PAY 11/15106 11/27/06 DEERFIELD TRIARC CAP CORP 462.691 0.4000 185.076.40 ACCREDITED INVESTORS REC 11107106 PAY 11/27106 TOTAL $203.060.40 MISCELLANEOUS DATE mow TFONSACTIN DESCRIPTION DENT AMOUNT CP£Zrt Fmc...NT 11/30/06 JOURNAL TO 10.000.000.00 TOTAL $.10.000,000.00 027 12,01.080518 001 V917 EFTA00196948 CLEARED THROUGH ITS VOICUY ODIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8081. Reams simmer core. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue CceMetrotech Conk. North 9tcc4t101. Nov York 11201.3859 STEARNS New York New York 10179 FINANCLAL TRUST COMPANY INC 8 ri STATEMENT PER100 NOYeMIMI 1.2006 THROUGH November 30.2006 ACCCUNT NUMBER TAXPAYER NUMBER 011FIle Your messages LAST STATEMENT October 31.2006 Bear. Stearns Securities Corp. would like to inform you that the Securities and Exchange Commission (the 'SEC) approved the Options Clearing Corporation's (the 'OCC) proposal to reduce the automatic exercise thresholds for listed equity options. Please be advised that this change is now in effect. Under the new expiration procedures, options that are in the money at the expiration by more than $.05 are automatically exercised unless your Investment Professional instructs us not to exercise them, Under the old procedure, the threshold amount was $,25, For example, if you have an equity option position in your account which is in•the•money by $.06 when it expires, the position will be automatically exercised at expiration unless we have received instructions to the contrary. Please note that this procedure only applies to options cleared by the OCC and regulated by the SEC, This does not apply to options on debt, foreign currency, and futures among others, It also does not apply to FLEX options or options traded on foreign exchanges or over-the-counter, If you should have any questions regarding this matter, please contact your Investment Professional End of Statement 027 12,0110605;56 001 Y917 EFTA00196949 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Steams Sealant Ø. Bear. Stearns & Co. Inc. BffiR 383 Madison Avenue New York New York 10179 Om Mental, Santa North Croattin. New York 11201.3859 STffiRNS FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE ZICHERMANJRA STATEMENT PERM September 30.2006 TELEPHONE THROUGH October 31.2006 VISIT OUR WEBSITE wmtbearsteams.com ACCOUNT NUMBER What's In This Statement IlIlt lllll I1111111111111111111111111111111 TAXPAYER NAGER On File LAST STATEMENT September 29.2006 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 CIO AMERICAN YACHT HARBOR Transaction Detail 6 6100 RED HOOK SUTE B-3 Fund Activity 7 OUAETERS #2 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash Equivalent TOTAL VALUE OF SECURITIES THIS PERIOD 44,311,202 S13.734, 1243786.625 MONEY MARKET FUND BALANCE 20,786,625 Equities 202 3 549.963.695 5-2.164.461 NET EOUITY THIS PERIOD $65,097,827 Current market value NET EQUITY LAST STATEMENT 61,533,377 ON Last statements market value Short market value CHANGE SINCE LAST STATEMENT 3.564.450 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. R05° NØ an/ d11'0(0~ a ~Haag of cracks er sioas. raficoiod ii dolkorod Jo 50.u. THE swinish,N for nfomuSenal moons only it H not earned as a lat ddarriert lo ChM Sonic.: al 80Of34.1429: or ono to Clem SONICOS Y Bow. Swarm &curries THE aaternere ~ bo cotaned fa your records See renew ada ia ~are rannacn Can. One Manna, Genie, Nona Cruelly+, NY 112014959 027 IC01/0130528 001 1916 EFTA00196950 CLEARED THROUGH ITS YmCuy ORIVED SKISICHAriv Seal. Reams SeWOO. CUR One Mewled, Conk. North 9roStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 ol $ STATEMENT BACKER IS PRINTED ON THIS PAGE 027 M011060526 001 V916 EFTA00196951 CLEARED THROUGH ITS VOICUY OMED SUSSIDIAAv OFFICE SERVICING YOUR ACCOUNT SRN. Steams SONAR* Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Nev York New York 10179 One MORINO Ca la North baltlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 3 01 STATEMENT Pucci Seplernter 30.2006 THROUGH October 31.2006 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER KAMER Co File NS Perm THIS PERIOD YEAR TO DATE LAST STATEMENT September 29.2006 Opening Balance $2.238.954.11 Dividends 71.781.60 2.018.348.16 Credit Balance Int. 87.80 87.80 Securities Sold 6.483.120.89 Total $71,869.40 $2.018.435.96 Money Fund 35.381.60 Dividends/Interest 36,487.80 Miscellaneous 497.491.63 Amount Credited $7.052.481.92 Portfolio Composition CashCash Equivalent 20.786.625 Money Fund -9.291.436.03 Equities 44.311,202 Amount Debited $.9.291A36.03 Total $65.097.827 Net Cash Activity -2.238.954.11 Closing Balance $0.00 Your Portfolio j Allocation Cash Balance Summary OFEh NG C106140 Cash 2,238,954.11 0.00 Cash & Equeralen Net Cash Balance $2.238.954.11 $0.00 321 - Equities 68% Unteeeti Preen, denote Oat OttenCe omit, shod Ticket Vitali alocama animas es awed from to absoLa /radon WAsa oF pxe atilono. 027 'M01.060526 001 V9I6 EFTA00196952 CLEARED THROUGH ITS vmCuy ORNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Sea. Reams SecudiRE Corp Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 One Metaled, Conk. North 9foStlin. Nov York 11201.3859 STEARNS FINANCLAL TRUST COMPANY INC 4 STATEMENT PER100 September 30.2006 THROUGH October 31.2006 ACCOUNT NUMBER TAXPAYER PRIIA3ER CR File LAST STATEMENT September 29.2006 Your Portfolio Holdings CASH & CASH EQUIVALENTS /MRKEI ESTIMATED CURRENT DESCRERIMI SYSTEMCvSIP OUANITTY NICE VALUE ANNUAL INCOME VELD 1%) DREYFUS CASH MANAGEMENT-CL A DICA 20,786,625.07 1.0000 20.786.625 1.060.118 5.1000 INSTITUTIONAL SHARES EST, 30 DAY AVG YELD 5.1900% TOTAL CASH & CASH EQUIVALENTS $20.786.625 $1.060.118 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third party research provider and their rating may also be displayed. where such research is available. The various providers use different ratings systems and have normalized them as follows: B = Buy; H = Hold: S = Sell (this may not always correspond directly to the underlying rating system used by each provider or BSC). The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal, or investment advice. Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at wvnv.bearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. AOC! ?MERV ESTIMATED EURR5uT DESCRPTION SMIEWCUSIE TYPE OUATRITY PRCE VALVE ANNA. 'COME YELD 04 APPLE COMPUTER INC AAPL CASH 120,000 81.0800 9.729.600 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: S BEAR STEARNS COMPANIES INC BSC CASH 130,000 151.3500 19.675.500 145.600 0.7400 CHOICEPOINT INC CPS CASH 100.000 36.3900 3.639.000 027 I UO11060526 001 V916 EFTA00196953 CLEARED THROUGH ITS WHOU.Y OWED SU8SIDIAAv OFFICE SERVICING YOUR ACCOUNT Seel. Warns Secedes) Corp Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metrotech Conk. North BrodWrn. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 5 STATEMENT PERK* Seplertitet 30.2006 THROUGH October 31.2006 Your Portfolio Holdings (continued) ACCOUNT NUMBER ■ TAXPAYER AILMA3ER OR File LAST STATEMENT September 29.2006 Equities & Options (continued) ACCT IMPIKET ESTIMATED CURRENT DESCRIPTION SYMBM,CUSIP TYPE OUANTITY PACE VALLE ANMJAL INCOME YEW I%) COLGATE PALMClIVE CO CL CASH 56,200 63.9700 3.595.114 71.936 2.0009 BSC RATING: STOCK 0/SECTOR MW BUCKINGHAM RESEARCH RATING: 8 DEERFIELD TRIARC CAP CORP CASH 462.691 14.8600 6.875.588 ACCREDITED INVESTORS ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.6100 61.000 WORLDWIDE INC WYNN RESORTS LTD VNNN CASH 10.000 73.5400 735.400 BSC RATING: STOCK 0/SECTOR MW WALL STREET STRATEGES RATING: B Total Equities& Options $44.311.202 $217,536 TOTAL EQUITIES $44.311.202 $217.536 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $1.277.654 YOUR PRICED PORTFOLIOHOLDINGS $65.097.827 027 11,01/080528 001 1916 EFTA00196954 CLEARED THROUGH ITS WHOLLY OMIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 84,81. Steams section Corp. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue Cno Metaled, Conic. North 9ro:Itlin. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 6 STATEMENT PERIOD SepleiTter 30.2006 THROUGH October 31.2006 Transaction Detail ACCOUNT NUMBER ■ TAXPAYER AILIIMER OTI File INVESTMENT ACTIVITY LAST STATEMENT September 29.2006 SETTLEMENT TRADE DATE DATE TRANSACTION OESCRIPTION ST1480LCUS/P OtAINMY ma DEER AMOUNT CRECIT MSOUNT 10/02/06 09/27/06 SOLD DEERFIELD TRIARC CAP CORP DER -54,250 13.23060 714,483.01 UNSOLICITED RULE 144 10/02/06 09/27/06 SOLD VECTOR GROUP LTD VGA 40,800 16.25190 660,609.16 AVG PRICE SHOWN-DETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED SEE NOTE SON BACK 10/03/06 09/28/06 SOLD DEERFIELD TRIARC CAP CORP DFR -17,850 13.21380 234,788.08 UNSOLICITED RILE 144 10/03/06 09/28/06 SOLD DEERFIELD TRIARC CAP CORP DFR -30,650 13.22910 403,620A7 UNSOLICITED RULE 144 10/03/06 09/28/06 SOLD VECTOR GROUP LTD VGR 34,300 16.22250 554.356.66 AVG PRICE SHOWN-DETAILS ON REO ACIIJAL CONFIRM TO YOUR AGENT UNSOLICITED SEE NOTE S ON BACK 10/04/06 09/29/06 SOLD DEERFIELD TRIARC CAP CORP DFR -59,950 13.21400 788,557S8 UNSOLICITED RULE 144 10/04/06 09/29/06 SOLD VECTOR GROUP LTD VGR -22,568 16.26170 365,628.70 AVG PRICE SHOWN-DETAILS ON REO ACIIJAL CONFIRM TO YOUR AGENT UNSOLICITED SEE NOTE S ON BACK 10/06/06 10/03/06 SOLD DEERFIELD TRIARC CAP CORP DER -119.050 13.16410 1,559,994.99 UNSOLICITED RULE 144 10/10/06 10/04/06 SOLD DEERFIELD TRIARC CAP CORP DFR -53,150 13.22310 699,597.19 UNSOLICITED RILE 144 027 11,01/080526 001 V9I6 EFTA00196955 CLEARED THROUGH ITS YMCU.Y OMINTED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SW. Seams Sea nOn GOO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Rotated, Conic! North 9rcoltlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 7 STATEMENT PERK* September 30.2006 THROUGH October 31.2006 Transaction Detail (continued) ACCOUNT! NUMBER ■ TAXPAYER KAMER CH File INVESTMENT ACTIVITY (continued) LAST STATEMENT September 29.2006 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRPTION SYMEIO.CuSP EAJANTIT', PRCE DEW AMOUNT MGT PAOLA, 10/11/06 EXCHANGE DEERFIELD TRIARC CAP CORP 500.000 ACCREDITED INVESTORS EXCHANGE 00161 10/11/06 EXCHANGE DEERFIELD TRIARC CAP CORP DFR 500.000 EXCHANGE 00158 10/12/06 EXCHANGE DEERFIELD TRIARC CAP CORP -37.309 ACCREDITED INVESTORS EXCHANGE 00151 10/12/06 EXCHANGE DEERFIELD TRIARC CAP CORP DFR 37.309 EXCHANGE 00148 10/13/06 10/10/06 SOLD DEERFIELD TRIARC CAP CORP DFR 37.309 13.50180 501.484.65 UNSOLICITED RILE 144 TOTAL 56.483.120.89 MONEY FUND ACTIVITY DATE 03.DAY TRANSACTION OESIRIPTCN SYLIDaTCUSIP OMMITITY PRICE 003IT mourn CREDIT AMOUNT 09/30/06 OPENINGBALANCE 11,495,189.04 10/02/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 660.609.16 1.0000 660,609.16 INSTITUTIONAL SHARES 10/02/06 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICA 35.381.60 INSIITUTIONAL SHARES MONTHLY DIVIDEND 10/02/06 REINVEST DREYFUS CASH MANAGEMENT-CL A DICK% 35,381.60 35,381.60 INSTITUTIONAL SHARES DIVIDEND REINVEST 027 11MT/080526 001 11916 EFTA00196956 CLEARED THROUGH ITS IMICUY OMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8RP. soma sectyiket cow Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Me Metaled, Conk. North 9taltlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 8 STATEMENT PER100 Sweater 30.2006 THROUGH October 31.2006 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NIM3ER OR File MONEY FUND ACTIVITY (continued) LAST STATEMENT September 29.2006 DATE MGDAT TRANSACOM DESCRIPTCN SYMEWCWIP PANTRY PACE DEBIT AMOUNT CREDIT AMCW.T 10/03/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICk( 554,356.66 1.0000 554.356.66 INSTITUTIONAL SHARES 10/04/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 365.628.70 1.0000 365.628.70 INSTITUTIONAL SHARES 10/05/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A MCA 497.484 1.0000 497.484.00 INSAMTIONAL SHARES 10/11/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 6.640.003.46 1.0000 6.640.003.46 INSTITUTIONAL SHARES 10/16/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 501.484.65 1.0000 501.484.65 INSTITUTIONAL SHARES 10/24/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 87.80 1.0000 87.80 INSTITUTIONAL SHARES 10/27/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 36.400 1.0000 36.400.00 INSTITUTIONAL SHARES 10/31/06 CLOSINGBALANCE 20,786,625.07 TOTAL 6-9.291A36.03 $35.381.60 DIVIDENDS DATE DESCRIPTION STMECtiCUSIP 0-NuTirr RATE Is OEM AMOUNT MEM AMOUNT 10/27/06 BEAR STEARNS COMPANIES INC BSC 130.000 0.2800 36.400.00 REC 10/17(0e PAY 10/27/06 TOTAL $36.400.00 027 11,01/060526 001 V916 EFTA00196957 CLEARED THROUGH ITS MOLLY 069.1ED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 84181. Warns Secterke Corp Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York Nen York 10179 Cne Metaled, CANN North Stcc4t6n. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 9 d STATEMENT PERK* September 30.2006 THROUGH October 31.2006 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NUMBER OR File INTEREST LAST STATEMENT September 29.2006 DATE DESCAPTION STIABC1JCVSIP WANTITY RATE 114/ DEBIT AMOUNT CREDIT AMOUNT 10/23/06 INTEREST ON CREDIT BALANCE 87.80 ACCT AT 041.1.192I - 10/20 TOTAL 587.80 MISCELLANEOUS DATE MOAT TRANSACTIM DESCRIPTCN DE617 AMOUNT CREW ATCUNT 10/03/06 CASH-LIEU VECTOR GROUP LTD 7.63 CASH IN LIEU OF .45000 REC 0920/06 PAY 0912906 10/05/06 JOURNAL FROM NMI 143,091.00 10/05/06 JOURNAL FROM OM 354.39100 TOTAL 5497.491.63 End of Statement 027 16060605:26 001 V916 EFTA00196958 CLEARED THROUGH ITS WHOU.Y ONIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT ENV. Warns SONAINI CYO. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York Nen York 10179 One Motrotoch Conley North 9toNtli n. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC STATEMENT PERIOD SepMonter 1.2006 THROUGH Septernter 29.2006 ACCOUNT NUMBER I I I mlIm VIII I I,,,,,11111.111.11111.1111.111 TAXPAYER KAMER On File LAST STATEMENT August 31.2006 FINANCIAL TRUST COMPANY INC C/0 AMERICAN YACHT HARBOR 6100 RED HOOK SUTE 6.3 OUAETERS #2 ST THOMAS VI 004302-1348 Fa' Pursuant to your previously issued instructions, Bear Steams Securities Corp. provides duplicate monthly statements and/or transaction confirmations to the third parties listed on the cover page of this statement. If you wish to modify or cease distribution to any of the recipients indicated, please contact your Account Executive. This reminder notice will continue to be provided to you on your quarterly statements. Third Party J EPSTEIN & CO 457 MADISON AVE 4TH FLOOR NEW YORK NY 10022 027 09,301360839 001 V915 EFTA00196959 CLEARED THROUGH ITS YRICU.Y ORTIED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BRO. Stearns Securiees Corp BEAR Bear. Stearns & Co. Inc. Coo Maraca, Conte. North 383 Madison Avenue BraWin. New York 11201.3859 STEARNS New York New York 10179 FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE ZICHERMAN.IRA STATEMENT PERIOD SepleMber 1.2006 TELEPHONE THROUGH SepleiTter 29.2006 VISIT OUR WEBSITE wmv.bearsteams.com ACCOUNT NUMBER 1111 What's In This Statement lllll 111111111111111111111111 TAXPAYER MAIDER On File LAST STATEMENT Auguu 31.2006 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C/O AMERICAN YACHT HARBOR Transaction Detail 6 6100 RED HOOK SUTE 6-3 Fund Activity 7 OUAETERS #2 Trades Not Yet Settled 9 ST THOMAS VI 00802-1348 Your Messages 11 Your Portfolio at a Glance Market Value of Your Portfolio Cash & EqievaNnt $13,734,143 TOTAL VALUE OF SECURITIES THIS PERIOD 47,799,234 ill$9.474.931 NET CREDIT BALANCE 2,238,954 Equities j $49.963.695 5.2.164.461 $49.721.534 MONEY MARKET FUND BALANCE 11,495,189 Current market value NET EQUITY THIS PERIOD $61,533,377 MO Last statements market value Short market value NET EOUTTY LAST STATEMENT 59,196,465 CHANGE SINCE LAST STATEMENT 2,336,912 There are no 'Stop Loss' orders or other pending buy or sell open orders on tile for your account. Roza room am 011bf01,00 a CODIOC.101 01 nd's or MOCKS. old1C0100 z C101k0f0d 10 ,C.u. 10 C1001 Swam or 800614.1128: a ono to nom Strokes a Boa Smarm &comes Cap. One lAnolan Conic. Honk. Brodbor, NY. 112014859 SIK TN, VaYSYWY Mkt Moneebausl imposes caly II Is not rarnar0 as tar domonorR 1ln Matootrorl should be Maid for your meads. Soo worm ode Ice rcalart ricernarco 027 09.30080839 001 V9I5 EFTA00196960 CLEARED THROUGH ITS YmCuy ORIVED SKISICHAriv Seal. Reams SeWOO. CUR One Mewled, Conk. North 9roStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 of la STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0930(01308:39 001 V915 EFTA00196961 CLEARED THROUGH ITS WHOLLY (AWED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8081. Warns SeemWes Corp Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Notated, Conk. North 9foStlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 3 ri STATEMENT PERIOD September 1,2006 THROUGH September 29.2006 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER KAMER On File THS PEAcc YEAR TO DATE THIS PERICO LAST STATEMENT August 31.2006 Opening Balance $0.00 Dividends 107.352.55 1.946.566.56 Securities Sold 7,459,983.04 Total $107.352.55 $1.946.566.56 Money Fund 3,351,639.95 Dividendsintetest 63,835.60 Amount Credited $10,875,458.59 Portfolio Composition SNORT Lotto Money Fund -5.328.381.48 CashCash Equivalent 13.734.143 Funds Withdrawn -3.308.123.00 Equities 2,164.461 49.963.695 Amount Debited $-8.636.504.48 Total $2.164.461 $63.697,838 Net Cash Activity 2.238.954.11 Closing Balance $2 238 954.11 Your Portfolio Allocation Cash Balance Summary Mt. NG CLOSING Cash 0.00 2,238,954.11 Cash & Equivalent 21% Net Cash Balance $0.00 $2.238,954.11 Short Equiti 3% Equities 76% Unteeeti Preen, denote 000* OttenCe omit, shod Ticket Vitali atocalla' warm": is clowod from to amok*, Amnon maw oF pxe Actilmo. 027 0930(060839 001 v915 EFTA00196962 CLEARED THROUGH ITS IMICUY OMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SOL warns seowiset cow. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Cno Metaled, Cola North 9roStlin. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCtAL TRUST COMPANY INC 4 STATEMENT PERIOD September 1,2006 THROUGH September 29.2006 ACCOUNT NUMBER TAXPAYER MAWR On File LAST STATEMENT August 31.2006 Your Portfolio Holdings CASH & CASH EQUIVALENTS MARRS ESTIMATED CVFIRIS'a DESCRPRON SYMEIWCUSIP OUAIMPI PRICE VALUE MNVAL INCOME YELDIM CASH BALANCE 2,238,954 DREYFUS CASH MANAGEMENT-CL A DICXX 11,495,189.04 1.0000 11.495,189 609.245 5.3000 INSTITUTIONAL SHARES EST, 30 DAY AVG VELD 5,2300% TOTAL CASH & CASH EQUIVALENTS $13,734,143 $609,245 EOUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available. The various providers use different ratings systems and have normalized them as follows: B = Buy; H = Hold; S = Sell (this may not always correspond directly to the underlying rating system used by each provider or BSC). The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal, or investment advice. Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at wynv.bearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. AGCT MANCE1 ESTRUM() CURR6V1 DESCRPTION SYMBOUCUSIP TPE pµNSTY PRICE VALUE ANNUAL INCOME VELD IV) APPLE COMPUTER INC AAPL CASH 120,000 77.0300 9.243.600 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: S BEAR STEARNS COMPANIES INC 8SC CASH 130.000 140.1000 18.213.000 145.600 0.7994 027 0930(0808:39 001 V915 EFTA00196963 CLEARED THROUGH ITS WHOLLY 051VED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8418f. sown seowiket cow. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Cno Motrotoch Conk. North 13talt5n. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 5 STATEMENT PERIOD September 1,2006 THROUGH Sec ternter 29.2006 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER MAWR On File LAST STATEMENT August 31.2006 Equities & Options (continued) ACCT 141.FIKET ESTIMATED CURRENT DESCROION YMBO5CUSIP TYPE OLIMRITY PACE VALLE ANMJAL INCOME YEID CHOICEPOINT INC CPS CASH 100,000 35.8000 3.580.000 CaGATE PALMOLIVE CO CL CASH 56,200 62.1000 3.490.020 71,936 2.0612 BSC RATING: STOCK O/SECTOR MW BUCKNGHAM RESEARCH RATING: H DEERFIELD TRIARC CAP CORP CASH 1.000.000 13.1100 13.110.000 ACCREDITED INVESTORS DEERFIELD TRIARC CAP CORP DFR CASH -165.100 13.1100 -2.164.461 -250.952 11.5942 ENVIRONMENTAL SOLUTIONS ESVYW CASH 100.000 0.6280 62.800 WORLDWIDE INC VECTOR GROUP LTD VGR CASH 97.668 16.2200 1.584.175 156,269 9.8644 WYNN RESORTS LTD WYNN CASH 10.000 68.0100 680.100 BSC RATING: STOCK O/SECTOR MW WALL STREET STRATEGES RATING: B Total Equities& Options $47,799,234 $122.853 TOTAL EQUITIES $47,799,234 $122.853 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $732,098 YOUR PRICEDPORTFOLIOHOLDINGS $61.533,377 027 093010808:39 001 V915 EFTA00196964 CLEARED THROUGH ITS ~CUT OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 13881. SOWN ~MINI Cal>. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 One Metrotab Coma North eØ/n. Nov York 11201.3859 STD;RNS FINANCIAL TRUST COMPANY INC 6 STATEMENT PERIOD September 1.2006 THROUGH September 29.2006 Transaction Detail ACCCLINT NUMBER ■ TAXPAYER M.A93ER On Ede INVESTMENT ACTIVITY LAST STATEMENT August 31.2006 scrtuicui TRAD2 DATE DATE TRANSACTION OESCRPTION STMBOT CUSP OMNTITI HULE DENT AMOUNT CREPT A/CUNT 09/05/06 MERGER KERZNER INTERNATIONAL LTD P6065Y107 •10.000 810,000.00 K002980 TO K002980 CASH MERGER @ $81 P/S 09/25/06 RECEIVED PRICEUNE COM INC COM NEW PCLN 100.000 0005 09/26/06 09/21/06 SOLD PRICEUNE COM INC COM NEW PCLN -100.000 33.34240 3,334,137.63 UNSOUCITED AVG PACE SHOWN-DETAILS ON REO WE MAKE A MKT IN THIS SECURITY UNIT PRICE 33.402400 DEFERENCE - 0.060000 09/27/06 09/22/06 SOLD DEERFIELD TRIARC CAP CORP DFR -13,900 13.21810 182,891.94 AVG PR/CE SHOWN-DETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED RILE 144 09/27/06 09/22/06 SOLD VECTOR GROUP LTD VGR -20.000 16.47050 328.199.88 UNSOUCITED SEE NOTE S ON BACK 7 09/28/06 09/25106 SOLD DEERFIELD TRIARC CAP CORP DFR -76.200 13.25010 1.005.054.62 AVG PR CE SHOWN-DETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOUCITED RILE 144 09/28/06 09/25/06 SOLD VECTOR GROUP LTD VGR -22.500 16.51800 370.293.59 AVG PRICE SHOWN-DETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT SEE NOTE S ON BACK 09/29/06 09/26/06 SOLD DEERFIELD TRIARC CAP CORP DFR 75.000 13.22270 987,172.05 UNSOLICITED RULE 144 027 0930080639 001 V9I5 EFTA00196965 CLEARED THROUGH ITS 1901CUY OMIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 1301. Soon Seemliko Corp Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One MORINO Conk. North 9toRtlin. Nov York 11201.3859 STEARNS FINANCAL TRUST COMPANY INC 7 vi STATEMENT PERIOD SOplerntef 1,2006 THROUGH September 29.2006 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER AMMER Cn Flle INVESTMENT ACTIVITY (continued) LAST STATEMENT August 31.2006 SETTLEMENT TRADE DATE DATE TRANSACTON CESCRIPTION SYMEIGUCUSIP GUMMY.' PRICE DEBIT AMOUNT CREPT AMOcter 09/29/06 09/20/06 BOUGHT VECTOR GROUP LTD VGA 7.979 SEE NOTE SON BACK STK DN ON 159589 SHS REC 09/20106 PAY 09/29:06 AS OF 09/20+06 09/29/06 09/26/06 SOLD VECTOR GROUP LTD VGA -27.400 16.20040 442.23133 AVG PACE SHOWN-DETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED SEE NOTE SON BACK TOTAL 57.459.983.04 DEPOSITS AND WITHDRAWALS DATE TRANSACTCN D'ESCRP DEBIT AMOUNT CREDIT AMOUNT 09/07/06 FND WIRED MDA F NDS WIRED TO 3.200.000.00 B 09/20106 FND WIRED MDA# CIIIIIIMNDS WIRED TO 108.123.00 ISM BOCK TOTAL 5-3.308.123.00 MONEY FUND ACTIVITY DATE MOAT TRINSICTON DESCRIPMN SYMECOUISIP OUN4MY PRICE DEW AMOUNT CREDIT AMOUNT 09/01/06 OPENINGBALANCE 9,474,930.56 027 0930060639 001 11915 EFTA00196966 CLEARED THROUGH ITS MOLLY OMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8081. Warns Searle* Geo. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 One Metaled, Coney North Brodkin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 8 vi STATEMENT PERIOD SOplefriCef 1,2006 THROUGH Septernter 29.2006 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER MASER OR File MONEY FUND ACTIVITY (continued) LAST STATEMENT August 31.2006 DATE MWDAY TRANS...VIM DESORIPTCN SYMEALCVSIP ammry PATE 0630 mom CREDIT AMOUNT 09/01/06 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICXX 43,516.95 INSRTUTIONAL SHARES MONTHLY DIVIDEND 09101/06 REINVEST DREYFUS CASH MANAGEMENT-CL A DICXX 43.516.95 43,516.95 INSTITUTIONAL SHARES DIVIDEND REINVEST 09/06/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 810.000 1.0000 810.000.00 INSRTUTIONAL SHARES 09/07/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -3.200.000 1.0000 3,200,000.00 INSRTUTIONAL SHARES 09/20/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -108.123 1.0000 108.123.00 INSRTUTIONAL SHARES 09/26/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 3,334,137.63 1.0000 3.334.137.63 INSRTUTIONAL SHARES 09/27/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 328,199.98 1.0000 328.199.98 INSRTUTIONAL SHARES 09/28/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICU 370,293.59 1.0000 370.293.59 INSRTUTIONAL SHARES 09/29/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 442.23333 1.0000 442.233.33 INSRTUTIONAL SHARES 09129/06 CLOSINGBALANCE 11.495.189.04 TOTAL 8.5.328.381.48 $3251.639.95 027 0930(060839 001 v915 EFTA00196967 CLEARED THROUGH ITS WHOLLY ORMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 808f. Reams seowion cow Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue Cno MORINO Conk. North bcdtlin. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 9 STATEMENT PERIOD September 1,2006 THROUGH September 29.2006 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER MAWR On File DIVIDENDS LAST STATEMENT AuguSE 31. 2006 DVE DESCRPTION SYMBOUCUSIP OUNRITY RATE (81 DEBIT AMOUNT CREDIT AMOUNT 09/29/06 VECTOR GROUP LTD VGR 159,589 0.4000 63,835.60 REC 09/20/06 PAY 09/29/06 TOTAL $63,835.60 Trades Executed Pending Settlement SETTLEMOM TRADE DATE DATE TRANSACTION tESCRPTION STIABODCUSV CAAMMTI PRICE DEBIT AMOUNT CREDO M/OUNT 10/02/06 09/27/06 SOLD DEERFIELD TRIARC CAP CORP DFR -54,250.00 13.2306 714,483.01 UNSOUCATED RULE 144 10/02/06 09/27/06 SOLD VECTOR GROUP LTD VGR -40,800.00 16.2519 660.609.16 AVG PRICE SHOWN-DETAILS ON REO ACTUAL CaFIRM TO YOUR AGENT UNSOLICITED SEE NOTE S ON BACK 10/03/06 09/28/06 SOLD DEERFIELD TRIARC CAP CORP DFR -17,850.00 13.2138 234,788.08 UNSOLICITED RULE 144 10/03/06 09/28/06 SOLD DEERFIELD TRIARC CAP CORP DFR -30,650.00 13.2291 403,620.47 UNSOLICITED RULE 144 10/03/06 09/28/06 SOLD VECTOR GROUP LTD VGA -34,300.00 16.2225 554,356.66 AVG PRICE SHOWN-DETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED SEE NOTE SON BACK 027 0900030839 001 V915 EFTA00196968 CLEARED THROUGH ITS 19O1CUY OMIVED SU8SIDIAAv OFFICE SERVICING YOUR ACCOUNT 13.9. Breams 5000(1901 Cat. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Conic. North 9roStlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 10 r, ,•r STATEMENT PERIOD September 1,2006 THROUGH September 29.2006 ACCOUNT NUMBER Trades Executed Pending Settlement (continued) TAXPAYER NUMBER 011File LAST STATEMENT August 31.2006 SETTLEMENT TRADE DATE DATE TRANSACTOR DESCAPDOR SYLLOOLCU-Ct 0./N1/417iT* PRICE DEBIT AMOUNT Crag AMOUNT 10/04/06 09/29/06 SOLD DEERFIELD IRIARC CAP CORP DFR -59.950.00 13.2140 788,557.98 UNSOLICITED RULE 144 10/04/06 09/29/06 SOLD VECTOR GROUP LTD VGA -22.568.00 16.2617 365,628.70 AVG PRICE SHOWN-COALS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOUCITED SEE NOTE SON BACK TOTAL 30.00 33,722,044.06 The oho.* tombs 03 001 appoat in any 011W Amon or ih8 starcornone 027 0950(080839 001 V915 EFTA00196969 CLEARED THROUGH ITS WHOLLY ODIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8081. Reams snows cow Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue One MO RINO Conic. North 13=8101. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 11 STATEMENT PERM 58plefaef 1,2006 THROUGH September 29.2006 ACCOUNT NUMBER U TAXPAYER IMMER ON Foe Your messages LAST STATEMENT August 31.2006 Revenue Sharing These money market funds may in some cases have higher yields than money Advisers, distributors or other affiliates of certain mutual funds (which market funds whose affiliates do make revenue sharing payments. There is, include money market and non-money market funds) may enter into therefore, a potential conflict of interest in the form of an additional financial arrangements to pay brokers that distribute their shares for administrative, incentive to Bear Stearns for making available to customers money market technological or other services, including marketing and other support services funds whose affiliates enter into revenue sharing arrangements. In certain provided to such funds or their affiliates. These fees, commonly referred to as circumstances, a portion of these revenue sharing payments may be passed 'revenue sharing; are separate from and in addition to any shareholder on as compensation to certain Private Client Services account executives, servicing or distribution fees that a mutual fund pays out of its own assets pursuant to its Rule 12b-1 plan and other expenses which are described in a With respect to non money market fund shares held in Bear Stearns funds prospectus fee table. Rule 12b-1 fees and other expenses described in accounts. Bear Steams may receive Rule 12b-1 fees and other compensation a funds prospectus fee table increase a funds expense ratio and decrease the described in a funds prospectus but does not receive revenue sharing funds yieid. Revenue sharing fees, on the other hand. are paid out of the payments, With respect to non-money market fund shares held by certain assets of the fund affiliate and not from the fund's assets and, therefore, have Private Client Services customers away from Bear Steams, Bear Stearns does no impact on a funds expense ratio or yield. receive revenue sharing payments in limited circumstances, A portion of these revenue sharing payments are passed on as compensation to the Private With respect to money market funds, Bear Steams negotiates revenue sharing Client Services account executive designated by the customer. Bear Stearns payments separately with each fund family and not all fund families pay the does not believe that these revenue sharing arrangements involving such same amount or pay according to the same formula. These payments are Private Client Services customers pose a conflict of interest with respect to calculated based on a percentage of the dollar value of the fund assets held by customers whose accounts are held at Bear Stearns. Bear Steams in customer accounts. Bear Steams receives up to 0,66% per year of the average daily assets of fund shares carried in customers accounts The prospectus and statement of additional information of mutual funds at Bear Steams. Money market funds whose affiliates do not make revenue available through Bear Steams may contain additional information regarding sharing payments to Bear Steams are generally not offered or recommended revenue sharing payments made by affiliates of the fund company. by Bear Stearns to its customers, 027 0950(080839 001 V915 EFTA00196970 CLEARED THROUGH ITS VOICUY ODIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SRN. warns sectywn cow Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue One Metaled, Conic. North bccItlin. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 12 STATEMENT PERM September 1.2006 THROUGH September 29.2006 ACCCUNT NUMBER U TAXPAYER WESER 011File LAST STATEMENT AucuSI 31.2006 ra' Bear, Stearns Securities Corp. Net Capital and Net Capital Requirements: Securities and other assets in your account are the firm's collateral for any In? margin loan made to you. If the securities and other assets in your account At May 31, 2006 and July 31, 2006, the Company's net capital of decline in value, so does the value of the collateral supporting your loan, and, approximately $3.7 billion and $3.8 billion was approximately 7% and 7% of as a result, the firm can take action, such as issue a margin call and/or sell aggregate debit items and exceeded the minimum regulatory net capital securities or other assets in any of your accounts held with the member, in requirement of approximately $1.1 billion and $1,1 billion by approximately order to maintain the required equity in the account, it is important that you $2,6 billion and $2.7 billion, all respectively. fully understand the risks involved in trading securities on margin. These risks include the following: A complete copy of the Bear, Stearns Securities Corp, Statement of Financial Condition is available on the web site www.bearsteams,com. Alternatively, to - You can lose more funds than you deposit in the margin account. request a free printed copy please call - toll free 1.866.299.9331, - The firm can force the sale of securities or other assets in your account(s). • The firm can sell your securities or other assets without contacting you. • You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold to meet a margin call. • The firm can increase its 'house" maintenance margin requirements at any time and is not required to provide you advance written notice. - You are not entitled to an extension of time on a margin call, 027 0950(080839 001 V915 EFTA00196971 CLEARED THROUGH ITS VOICUY ODIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 13081.54earns Sea nOn Goo. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 One Metaled, Conk. North baltlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 13 STATEMENT PERO> September 1,2006 THROUGH September 29.2006 ACCOUNT NUMBER U TAXPAYER KAMER OR File LAST STATEMENT August 31.2006 This statement is provided to explain Bear, Stearns & Co. Inc.'s ("BSC") Bar payment for order flow practices. Ear Pursuant to SEC Rule 606, please note the following: BSC routes a majority of orders for customer securities transactions to the Bear, Stearns & Co. Inc. will post its quarterly routing statistics at the following primary market for such securities, Orders may also be routed to other market web link: httpliwww.bearsteams.com/. Click on Individual Investor, Click on service vendors that assure executions pursuant to complex mathematical Equities, Click on Order Routing Practices. formulas at better than the national best bid or best offer (NBB0). BSC receives no cash payment or other consideration for such order routing other Customers of Bear, Steams & Co. Inc. may request information on any order than favorable executions or executions of limit orders at no additional charge. executed within the prior six months from the time of the request, Specifically. you may request the identity of the venue to which the identified orders were routed for execution, whether the order was directed by you to that venue, and the time of the executions, if any, that resulted from such orders. End of Statement 027 0900(060839 001 V915 EFTA00196972 CLEARED THROUGH ITS WHOLLY OGYED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. Seams SeOuilit. COTT Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue QT*1.1evotech Cooler North Elecck,on, Her, Too 11201.3859 STEARNS New York, Nem York 10179 FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE ZICHERMAN.IRA STATEMENT PERIOD August 1.2006 TELEPHONE ■ THROUGH August 31.2006 VISIT OUR WEBSITE ‘yrnv.bearstearns.com ACCOUNT NUMBER What's In This Statement 11111111111111111111111 111111111111111111111111 TAXPAYER NU1A3ER On free LAST STATEMENT Jul/ 31, 2006 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 0/0 AMERICAN YACHT HARBOR Transaction Detail 6 6100 RED HOOK SLATE 6-3 Fund Activity 6 OUAETERS #2 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equivalent —a $9.474.931 TOTAL VALUE OF SECURITIES THIS PERIOD 49,721,534 $10,130,114 MONEY MARKET FUND BALANCE 9,474,931 Equities H $49.721.634 $51,053,930 NET EQUITY THIS PERIOD $59,196,465 Current market value MO Last statements market value NET EQUITY LAST STATEMENT 61,184,044 CHANGE SINCE LAST STATEMENT •1,987.579 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Flex° rood ant dfforonoo a norwocett of dud's or sKKks. eidicolod ap dotkorod to ,cu. lo ClOol Sonic°. al 800614.1428: a veto to nom Sol Kos a Bow. Swarm SccuMos Cap.. One Merinnocli Cooler Noah. IMA08.7 NY. 112014859 sit Th4 vsnTory is for nrormaeceal wpm, Gory a Is not Wended as a tY do .fl. Ilvs statonsrA should be graved lot your records. So mono S. for Irmo Wormatpe 027 0a0b0607:93 001 V914 EFTA00196973 CLEARED THROUGH ITS YmCuy ORIVED SLIESICHAriv Seal. Reams SeWOO. CUR One Metaled, Conk. North 9roStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 or 7 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 09011060758 001 V914 EFTA00196974 CLEARED THROUGH ITS WHOLLY (AWED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SRN. Steams SONNI981 Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Conk. North &DSO% Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 3 ci STATEMENT occo00 August 1.2006 THROUGH August 31.2006 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER MAWR On File DiS PER-co YEAR TO DATE THIS PERIOD LAST STATEMENT ..Iu// 31.2006 Opening Balance $0.00 Dividends 448,744.87 1.839.214.01 Money Fund 1,154,688.96 Total $448.744.87 $1.839.214.01 Dividends/Interest 397,984.00 Amount Credited $1.552.672.96 Portfolio Composition Money Fund -448.744.87 CashCash Equivalent 9.474.931 Funds Withdrawn -1.103.928.09 Equities 49.721,534 Amount Debited $-1.552.672.96 Total $59.196.465 Closing Balance $0.00 ,• Your Portfolio Allocation Cash 8, Equrra!ent Equi 7% 83% Unteeeti Preen, denote 0001 OttenCe omit, shod Ticket Vitali alocama warm": m clowed from to amok*, Amnon maw os pr.0 panna. 027 0901/0807:58 001 V9I0 EFTA00196975 CLEARED THROUGH ITS VOICUY ORRIED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 13081. warns sectvivet cow Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue Cno Motrotoch Conk. North boRtlin. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCAL TRUST COMPANY INC 4 STATEMENT occo00 August 1.2006 THROUGH August 31.2006 ACCOUNT NUMBER TAXPAYER AMBER On File LAST STATEMENT JuPt 31.2006 Your Portfolio Holdings CASH & CASH EQUIVALENTS /WOO ESTIMATED CURRENT DESCRPSON SYMEICIJCVSIP eu4irrrit PRICE VALUE MNIM. INCOME VELD I%1 DREYFUS CASH MANAGEMENT -CL A DICA 9,474,930.56 1.0000 9.474.931 502.171 5.3000 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 5,23008 TOTAL CASH & CASH EQUIVALENTS $9 A 74.931 $502,171 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third party research provider and their rating may also be displayed. where such research is available. The various providers use different ratings systems and have normalized them as follows: B = Buy; H = Hold: S = Sell (this may not always correspond directly to the underlying rating system used by each provider or BSC). The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal, or investment advice. Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at wvnv.bearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. Aar MONEY ESTIMATED PAWS DESCRATION SYMEIWCUSIP TYPE OUANI1TY PRCE VALUE ANNUAL INCOME YEW ru APPLE COMPUTER INC AAPL CASH 120,000 67.8500 8.142.000 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: S BEAR STEARNS COMPANIES INC BSC CASH 130,000 130.3500 16.945.500 145.600 0.8592 CHOICEPOINT INC CPS CASH 100.000 36.1500 3.615.000 027 0901/060758 001 V914 EFTA00196976 CLEARED THROUGH ITS WHOU.Y OWED SUBSOIARY OFFICE SERVICING YOUR ACCOUNT 1304I. Sown SewnOes Coro Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Conk. North 9tccklin. Nov Uric 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 5 vi STATEMENT Pew; August 1.2006 THROUGH August 31.2006 Your Portfolio Holdings (continued) ACCCUNT NUMBER TAXPAYER MAWR On File LAST STATEMENT Ju/t 31.2006 Equities & Options (continued) AOCT MARKET ESTIMATED CURROVT DESCRIPTION StMBOUCUSIP TYPE OLIANTITY PRCE VALLE ANMJAL INCOME YEW 1%) COLGATE PALMO(JVE CO CL CASH 56,200 59.8600 3.364.132 71,936 2.1383 BSC RATING: STOCK 0/SECTOR MW BUCKINGHAM RESEARCH RATING: H DEERFIELD TRIARC CAP CORP CASH 1,000.000 13.2600 13.260.000 ACCREDITED INVESTORS ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.5600 56.000 WORLDWIDE INC KERZNER INTERNATIONAL LTD KZL CASH 10.000 80.8700 808.700 BSC RATING: STOCK P/SECTOR MW NED DAVIS RESEARCH RATING: 8 VECTOR GROUP LTD VGR CASH 159.589 17.2700 2.756.102 255,342 9.2646 WYNN RESORTS LTD WYNN CASH 10.000 77.4100 774.100 BSC RATING: STOCK 0/SECTOR MW WALL STREET STRATEGES RATING: 8 Total Equities& Options $49.721.534 $472.878 TOTAL EQUITIES $49.721.534 $472.878 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $975.049 YOUR PRICED PORTFOLIOHOLDINGS $59.196.465 027 0901/0807:58 001 V914 EFTA00196977 CLEARED THROUGH ITS WHOLLY ODIVED SUSSIDIAAv OFFICE SERVICING YOUR ACCOUNT SW. Steams sectvivet Cat. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cno Motrotoch Conk. North 9taltlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 6 STATEMENT PERIOD August 1.2006 THROUGH August 31.2006 Transaction Detail ACCOUNT NUMBER TAXPAYER KAMER On Flk DEPOSITS AND WITHDRAWALS LAST STATEMENT Jul/ 31. 2006 WAN U. DESCRPRON DEEM Ammon CREDIT AMOUNT 08/17/06 FND WIRED MDA# FNDS WIRED TO 93.928.09 08/21/06 FND WIRED MDAaNDS WIRED TO 1.010.000.00 TOTAL $-1,103,928.09 MONEY FUND ACTIVITY DATE 1.13DAY TRANSACTIONt DESCAIPTON STAID3UCUSIP °MOP MTGE COW AMOUNT CAM AMOUNT 08/01/06 OPENINGBALANCE 10,130,113/8 08/01/06 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICA 50.760.87 INSUTUTIONAL SHARES MONTHLY DIVIDEND 08/01/06 REINVEST DREYFUS CASH MANAGEMENT-CL A DICA 50,760S7 50,760.87 INSTITUTIONAL SHARES DIVIDEND REINVEST 08/15/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 17,984 1.0000 17,984.00 INSUTUTIONAL SHARES 08/17/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -93,928.09 1.0000 93,928.09 INSUTUTIONAL SHARES 08/21/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -1,010.000 L0000 1.010.000.00 INSUTUTIONAL SHARES 08/28/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 380.000 1.0000 380.00000 INSUTUTIONAL SHARES 027 0901/01307:58 001 V9I0 EFTA00196978 CLEARED THROUGH ITS VOICUY (AWED SUBIC/MAP OFFICE SERVICING YOUR ACCOUNT 84,41. Reams SONAR* Cat. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York. Nen York 10179 One Metaled, Cerra North 9tccItlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 7 CI STATEMENT Perim August 1.2006 THROUGH August 31.2006 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER MASSER on File MONEY FUND ACTIVITY (continued) LAST STATEMENT JO 31. 2006 DATE 1130AT TRANS.:CRON DESCRIPTION SYM8LCUSIP OVANiry PRICE DEBIT AMOUNT CREDIT 41,10041 08/31/06 CLOSINORALANCE 9,474,930.56 TOTAL $-448.744.87 $1.154.688.96 DIVIDENDS DATE OESCRPTION STMOWCUSIP CVNNITY RATE CP OEM! AMOUNT CAECIT 41/Cilte 08/15/06 COLGATE PALMOLIVE CO CL 56.200 0.3200 17.984.00 REC 07/26106 PAY 08/15,06 08128106 DEERFIELD TRIARC CAP CORP 1.000.000 0.3800 380.000.00 ACCREDITED INVESTORS REC 08404106 PAY 08/28/06 TOTAL $397.984.00 End of Statement 027 09.01/080758 001 V914 EFTA00196979 CLEARED THROUGH ITS WHOLLY 01WED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8.19. Ream. SBCu•il*I GATT Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York Nen York 10179 Ow Manned+ Cooler North Becck,on. Nee; re* 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE ZICHERMAKIRA STATEMENT PERIOD Jul/ 1.2006 TELEPHONE ■ THROUGH Jul/ 31.2006 VISIT OUR WEBSITE mmr.bewsteams.com ACCOUNT NUMBER What's In This Statement lllll IIIIIIIIIIIIIIII11111111 TAXPAYER NULISER On File LAST STATEMENT June 30.2006 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 0/0 AMERICAN YACHT HARBOR Transaction Detail 6 6100 RED HOOK SUTE 6-3 Fund Activity 6 OUAETERS #2 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & EqLevaHnt _n10.130,114 TOTAL VAWE OF SECURITIES THIS PERIOD 51,053,930 SI 3.245.746 MONEY MARKET FUND BALANCE 10,130,114 Equities 161.053.930 346.590.301 NET EQUITY THIS PERIOD $61,184,044 Current market value MO Last statements market value NET EQUITY LAST STATEMENT 58,836,046 CHANGE SINCE LAST STATEMENT 2,347,998 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Flow rood any difeconoo a rawocola of ctodm or sKKks. caleolod z dakorod to Lau. TTOE EMTITMIY n fa mTOTMAKKAAI pompom ally I Is not fl ooded natal dOtaniert lo Cleni Sone*. PI 800614.1428: a ono lo Clad Sonaos a Bow. Swarm SauMos Tin itatiewrg should be read AY your moats. Me warm Se for mpartam rialnatCa Ca,.. One MetoNcli Coolly Nam. SHONA, NY. I180141759 027 08.01/06D7:95 001 V9I2 EFTA00196980 CLEARED THROUGH ITS YRICuy ORIVED SUEISICHAriv OW. SleanIS GRUNION, CUR One Metaled, Conic. North 9roStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 or 7 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 080110607;56 001 V912 EFTA00196981 CLEARED THROUGH ITS WHOLLY 01MVED SUSSIDIAAv OFFICE SERVICING YOUR ACCOUNT SOM. 5111015 SO0w1081 Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Motored, Conic. North bcdtlin. Nov York 112013/59 STEARNS FINANCIAL TRUST COMPANY INC 3 ci STATEMENT PERK* Jul/ 1.2006 THROUGH Jul/ 31.2006 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER KAMER On File THIS PERIOD DC PERIOD YEAR TO DATE LAST STATEMENT June 30.2006 Opening Balance $0.00 Dividends 96.313.73 1.390.469.14 Money Fund 3.769.343.73 Total $96.31333 $1 390 469.14 Dividendstinterest 33.400.00 Miscellaneous 53.497.485.00 Amount Credited $57.303,228.73 Portfolio Composition CashiCash Equivalent 10.130,114 Securities Bought -3,709.430.00 Equities 51.053,930 Money Fund -593.798.73 Miscellaneous -53.000.000.00 Total $61,184,044 Amount Debited $-57.303,228.73 Closing Balance $0.00 • Your Portfolio Allocation Cash 8, Equrra!ent Equi I7% 83% Unteeeti Preen, Oonore 0001 OttenCe omit, shod rn ,to vas. Tro alocoma warm": es crowed from to aosolso work*, mak* o1 pxe patorio. 027 0801/080718 001 V9I2 EFTA00196982 CLEARED THROUGH ITS WHOLLY OMIED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 1308,. sown sectvivet cow Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue Cne Metaled, Cala North 9taltkn. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 4 STATEMENT PERIOD July 1.2006 THROUGH kik 31.2006 ACCCUNT NUMBER TAXPAYER mee3ER On File LAST STATEMENT June 30.2006 Your Portfolio Holdings CASH & CASH EQUIVALENTS MARRS ESTIMATED CAMAS DESCRPRON SYMEIWCVSIP OUAIRRY PRICE VALUE MNUAL INCOME YELD I%) DREYFUS CASH MANAGEMENT -CL A DICA 10,130,113.78 1.0000 10.130,114 486.245 4.8000 INSTITUTIONAL SHARES EST, 30 DAY AVG YELD 5,19008 TOTAL CASH 8 CASH EQUIVALENTS $10,130,114 $486,245 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third party research provider and their rating may also be displayed. where such research is available. The various providers use different ratings systems and have normalized them as follows: B = Buy; H = Hold: S = Sell (this may not always correspond directly to the underlying rating system used by each provider or BSC). The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal, or investment advice. Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at www.bearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. AOC! PAANCET EMOTED WNW'S DESCRATION SYMEIWCUSIP TYPE OUANSTY PRICE VALVE ANNUAL NCOME VELD NI APPLE COMPUTER INC AAPL CASH 120,000 67.9600 8.155.200 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: S BEAR STEARNS COMPANIES INC BSC CASH 130,000 141.8700 18.443.100 145.600 0.7895 CHOICEPOINT INC CPS CASH 100.000 34.1600 3.416.000 027 06.01/0807:58 001 V9I2 EFTA00196983 CLEARED THROUGH ITS WHOLLY GMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8418I. SOWN SONNI981 Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Conk. North OroStkn. Nov York 1120/3959 STEARNS FINANCIAL TRUST COMPANY INC 5 I STATEMENT PERK* Jul/ 1.2006 THROUGH Jul/ 31.2006 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER AMBER On File LAST STATEMENT June 30.2006 Equities & Options (continued) AOCT MARKET ESTIMATED CURRENT DESORPTION SYMBM/CUSIP TYPE OUANUTY PACE VALUE ANNUAL INCOME YELD I%) COLGATE PALMClIVE CO CL CASH 56,200 59.3200 3.333.784 71,936 2.1578 BSC RATING: STOCK 0/SECTOR MW BUCKINGHAM RESEARCH RATING: H DEERFIELD TFIIARC CAP CORP CASH 1,000.000 13.6200 13,620,000 ACCREDITED INVESTORS ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.6200 62,000 WORLDWIDE INC KERZNER INTERNATIONAL LTD KZL CASH 10.000 80.0000 800,000 BSC RATING: STOCK P/SECTOR MW NED DAVIS RESEARCH RATING: 8 VECTOR GROUP LTD VGR CASH 159,589 16.1900 2.583.746 255,342 9.8826 WYNN RESORTS LTD WYNN CASH 10.000 64.0100 640.100 BSC RATING: STOCK 0/SECTOR MW WALL STREET STRATEGES RATING: B Total Equities& Options $51,053.930 $472.878 TOTAL EQUITIES $51.053.930 $472.878 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME 5959.123 YOUR PRICED PORTFOLIOHOLDINGS $61.184.044 027 013.01/01307:56 001 V912 EFTA00196984 CLEARED THROUGH ITS WHOU.Y CONNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8081. Stearns SOOtxlIke Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Cno Metaled, Conic. North baltlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 6 ci STATEMENT PERK* Jul/ 1.2006 THROUGH AO/ 31.2006 Transaction Detail ACCOUNT NUMBER ■ TAXPAYER KAMER On File INVESTMENT ACTIVITY LAST STATEMENT June 30.2006 SETTLEMENT TRADE DATE DATE "RANSACT)3N DESCRIPTION trarecticusie QUANTITY ARCS DEBIT AMOUNT CFE AllOcter 07/14/06 07/11/06 BOUGHT CHOICEPOINT INC CPS 100.000 37.03430 3,709,430.00 UNSOLICHED TOTAL $3.709.430.00 MONEY FUND ACTIVITY DATE MODAY TRANSACTION DESCRIPTCN SYMECt/CUSIP OWArtrrY eroCE DOLT AMOUNT CREDIT AMOUNT 07/01/06 OPENINGBALANCE 13,245,745.05 07/03/06 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICA 59,913.73 INSTITUTIONAL SHARES MONTHLY DIVIDEND 07/03/06 REINVEST DREYFUS CASH MANAGEMENT-CL A DICA 59.913.73 59.913.73 INSTITUTIONAL SHARES DIVIDEND REINVEST 07/05/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 497.485 1.0000 497.485 00 INSTITUTIONAL SHARES 07/14/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -3,709.430 1.0000 3.709.430.00 INSTITUTIONAL SHARES 07/28/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 36.400 1.0000 36,400.00 INSTITUTIONAL SHARES 07/31;06 CLOSINGBALANCE 10,130,113.78 TOTAL $.593.798.73 $3.769.343.73 027 08011060716 001 v9I7 EFTA00196985 CLEARED THROUGH ITS MOLLY 01MVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SRN. Sown unyoke corn Bear. Stearns 8 CO. Inc. BEAR 383 Madison Avenue Cne Metaled, Conk. North 9taltlin. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 7 STATEMENT PERK* JuD 1.2006 THROUGH Juk 31. 2006 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER AMMER Ofl File DIVIDENDS LAST STATEMENT June 30.2006 D4-E DESORPTION sniectrcusw OUNYTITY RATE (S) DEBIT AMOUNT CREDIT AMOUNT 07/28/06 BEAR STEARNS COMPANIES INC SSC 130,000 0.2800 36,400.00 REC 07/18/06 PAY 07/2806 TOTAL $36.400.00 MISCELLANEOUS DATE WPM TRANSACTO1 OESCAIPT DENT AMOUNT CREPT M/OUNT 07/03/06 JOURNAL FROM 143,091.00 07/03/06 JOURNAL FROM NM 354,394.00 07/05/06 JOURNAL TO 53.000.000.00 07/05/06 JOURNAL FROM ININI 53,000,000.00 TOTAL $-53.000,000.00 $53,497.485.00 End of Statement 027 OWD1/0807513 001 V912 EFTA00196986 CLEARED THROUGH ITS WHOU.Y ODIVED SUSSIDIAAv OFFICE SERVICING YOUR ACCOUNT SRN. Steams section Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Conk. North 9taltDn. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC STATEMENT PERIOD June 1.2006 THROUGH June 30.2006 ACCOUNT NUMBER Illml Im VIII I I IIIIIIIIIIIIIIIIIIIIIIIIIII TAXPAYER AMBER On Ale LAST STATEMENT May 31.2006 FINANCIAL TRUST COMPANY INC C/0 AMERICAN YACHT HARBOR 6100 RED HOOK SUTE 6.3 OUAETERS #2 ST THOMAS VI 004302-1348 Fa' Pursuant to your previously issued instructions, Bear Steams Securities Corp. provides duplicate monthly statements and/or transaction confirmations to the third parties listed on the cover page of this statement. If you wish to modify or cease distribution to any of the recipients indicated, please contact your Account Executive. This reminder notice will continue to be provided to you on your quarterly statements. Third Party J EPSTEIN & CO 457 MADISON AVE 4TH FLOOR NEW YORK NY 10022 027 OND1/06:1010 001 V911 EFTA00196987 CLEARED THROUGH ITS ~PLY OVMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 1149.51eanIS Seeuellke COI> Bear. Stearns & Co. Inc. BffiR 383 Madison Avenue New York. New York 10179 One Metrotab Center North 9res4001. Neer York 1120/3859 STffiRNS FINANCIAL TRUST COMPANY INC ACCOUNT EXECUDVE ZICHERMAN.IRA STATEMENT PERIOO June 1.2006 TELEPHONE ■ THROUGH June 30.2006 VISIT OUR WEBSITE nww.bearsteams.com ACCOUNT NUMBER What's In This Statement 1111111111IIIIIIIIIlllll IIIIIIIIII1111111111111111 TAXPAYER NUMER On Pile LAST STATEMENT May 31.2006 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C/0 AMERICAN YACHT HARBOR Transaction Detail 6 6100 RED HOOK SUTE B•3 Fund Activity 7 OUAETERS #2 Your Messages 8 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Confirmation: Unless we hear from you to the contrary. it is Cash & EqLwalent — our understanding that any TOTAL VALUE OF SECURITIES THIS PERIOD 45,590,301 $22.279,383 free credit balances in your MONEY MARKET FLRID BALANCE 13,245,745 S45.590.301 account are being maintained Equities to facilitate your intention to invest such amounts through NET EQUITY THIS PERIOD $58,836,046 ffi Current market value US. NET EQUITY LAST STATEMENT 61,479,770 ele Last statement's market value CHANGE SINCE LAST STATEMENT -2,643,724 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. F1oza capon any 011aonoo a ~seem ol crocks or slaks. dcloreme la ou. Tin EuncrY h14 olOreMbodel paTxces caly. I Is not «ended mated <bond Cleni Semen al 800614.1429: a wife 10 Mont Sonde« M Soot Semen &cum.» Des Rand should be retailed for your records See Ina ode for reporters rIcensatan Cap.. One MOolech Conies Ronk Brooklyn. N Y 1120141459 027 07'01,06.10 56 001 "9I I EFTA00196988 CLEARED THR000H ITS YRICuy ORIVED 508510MOY See,. SleanIS GRUNION, CUR One Metaled, Conic. Horn 9toStlin. How York 11201.3859 FINANCIAL TRUST COMPANY INC 2 of $ STATEMENT BACKER IS PRINTED ON THIS PAGE 027 OTN1N8:10M 001 V911 EFTA00196989 CLEARED THROUGH ITS MOLLY OHIVED SUSSIDIAAv OFFICE SERVICING YOUR ACCOUNT SNP. SIMMS SONNI981 GOO Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Conley North 8taltkn. Nov Uric 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 3 01 STATEMENT Puna.) June 1.2006 THROUGH June 30.2006 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER KAMER On File ThIS PEROD YEM TO DATE THIS PERI00 LAST STATEMENT May 31.2006 Opening Balance $0.00 Dividends 157.381.70 1.294.155.41 Money Fund 11,609,546.10 Total $157.381.70 $1 294 155.41 Funds Deposited 2,325,000.00 Dividends/Interest 63,835.60 Amount Credited $13,998,381.70 Portfolio Composition CashCash Equivalent 13.245,745 Securities Bought -6,191.000.00 Equities 45.590.301 Money Fund -2,482.381.70 Funds Withdrawn -5,325.000.00 Total 358.836.046 Amount Debited 3-13.998,381.70 Closing Balance $0.00 Your Portfolio Allocation 4 Equivalent 23% • &pikes 77% Unteeeti Preen, denote OHM o*f0noo omit, shod Ticket Vitali alocamn warm": es clawed from to a05okie /radon maw os ,ote Actilmo. 027 07/01/08:1058 001 V9I1 EFTA00196990 CLEARED THROUGH ITS Maly OunIED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 13418f. wenn sectvivet cow Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue One Motrotoch Conk. North bcdtlin. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 4 STATEMENT PER100 June 1.2006 THROUGH June 30.2006 ACCCUNT NUMBER TAXPAYER 0811113ER On File LAST STATEMENT May 31.2006 Your Portfolio Holdings CASH & CASH EQUIVALENTS MARKET ESTIMATED CURRENT DESCRPROti 60/18CliCUSIP euAturrr PRICE VALUE WM& INCOME VELD PC/ DREYFUS CASH MANAGEMENT -CL A DICK 13,245,745.05 1.0000 13.245,745 649.042 4.9000 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 5,1700% TOTAL CASH & CASH EQUIVALENTS $13,245,745 $649,042 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third party research provider and their rating may also be displayed. where such research is available. The various providers use different ratings systems and have normalized them as follows: B = Buy; H = Hold: S = Sell (this may not always correspond directly to the underlying rating system used by each provider or BSC). The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal, or investment advice. Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at wvnv.bearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. ACCT IMMCET mums, CURRENT DESCRPTION SYM%IJWSIP TIPS OUANI1TY PRCE VALVE ANNUAL MIME YEW IN/ APPLE COMPUTER INC AAPL CASH 120,000 57.1200 6.854.400 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: S BEAR STEARNS COMPANIES INC BSC CASH 130.000 140.0800 18.210.400 145,600 0.7995 COLGATE PALMOLIVE CO CL CASH 56.200 59.9000 3.366.380 71,936 2.1369 BSC RATING: STOCK 0/SECTOR MW BUCKINGHAM RESEARCH RATING: 027 07851M:1058 001 V911 EFTA00196991 CLEARED THROUGH ITS YMDLLY ODIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear. 5189nIs SONNI981 Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York Nem York 10179 One Mewled, Conk. North 9ro:810% Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 5 STATEMENT PERIOD June 1.2006 THROUGH June 30.2006 Your Portfolio Holdings (continued) ACCOUNT NUMBER ■ TAXPAYER AA/913ER On File LAST STATEMENT May 31.2006 Equities & Options (continued) ACCT MARKET ESTIMATED OIRRENIT DESCRIPION SYMBOUOISIP TYPE OUATITY PACE VALUE ANNUAL INCOME YELL/ IS) DEERFIELD TFIIARC CAP CORP CASH 1,000.000 12.9800 12.980.000 ACCREDITED INVESTORS ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.6000 60.000 WORLDWIDE INC KERZNER INTERNATIONAL LTD K2L CASH 10.000 79.2800 792,800 BSC RATING: STOCK PiSECTOR MW NED DAVIS RESEARCH RATING: H VECTOR GROUP LTD VGR CASH 159.589 16.2500 2.593.321 255.342 9.8461 WYNN RESORTS LTD WYNN CASH 10.000 73.3000 733.000 BSC RATING: STOCK CUSECTOR MW WALL STREET STRATEGES RATING: Total Equities& Options $45.590.301 $472.878 TOTAL EQUITIES $45.590.301 $472.878 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME 91.121.920 YOUR PRICED PORTFOLIOHOLDINGS $58.836.046 027 07/01/08:1058 001 V911 EFTA00196992 CLEARED THROUGH ITS WITCUY OMIVED SUBIC/1.01v OFFICE SERVICING YOUR ACCOUNT 84181. Warns SeetelOes Goo. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Conk. North 9to:Wm Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 6 o STATEMENT Perim June 1.2006 THROUGH June 30.2006 Transaction Detail ACCOUNT NUMBER ■ TAXPAYER PANDER On Flk INVESTMENT ACTIVITY LAST STATEMENT May 31.2006 SETTLEMENT TRADE DATE DATE TRANSACT/ON DESCRIPTION SYTA3OUCUSIP OVAARITY PRICE DENT AMOUNT CHEM MOM 06/06/06 06/01/06 BOUGHT APPLE COMPUTER INC MM. 100,000 61.85000 6,191,000.00 WITH RIGHTS TO PURCHASE COMMON STK UNDER CERTAIN CIRCUMSTANCE WE ARE ACTING AS PRINCIPAL & MARKET MAKER: COMMISSION FIELD IS A COMMISSION EQUIVALENT - DETAILS ON REQUEST 3-6,191,000.00 DEPOSITS AND WITHDRAWALS DATE TRANSACTION PLC. CCEITIAIAOUNT CREDIT AMOUNT 06/01/06 FND WIRED MDA# NDS WIRED TO 1,000,000.00 E BANK FD 06/07/06 FND WIRED MDA FNDS WIRED TO 1,000,000.00 BA. OW20/06 FND WIRED MDA#IIIIIIIIINIRECI TO 1,000,000.00 E BANu us 06/21/06 FND WIRED MDA 2,325,000.00 re‘ 06122/06 FUNDS REC ENDS WIRED TO CITIBANK FROM 2,325,000.00 TOTAL $-5.325,000.00 $2.325,000.00 027 07i01/06:1056 001 V911 EFTA00196993 CLEARED THROUGH ITS YMDLLY OMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8081. warns SINAI* GOO Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Motrotoch Conk. North bcdtkn. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 7 STATEMENT PERIOD June 1.2006 THROUGH June 30.2006 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER TOMER ON File MONEY FUND ACTIVITY LAST STATEMENT May 31.2006 DA-E 1.13CMY TRANSICTICN DESOTIPTIDN SI MBWCUSi P DUMMY PRICE DEBIT mom CREDIT AMOUNT 06/01/06 OPENINGBALANCE 22,279,363.35 06/01/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -1.000.000 1.0000 1.000.000.00 INSTITUTIONAL SHARES 06/01/06 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICXX 93.546.10 INSTITUTIONAL SHARES MONTHLY DIVIDEND 06/01/06 REINVEST DREYFUS CASH MANAGEMENT-CL A DICXX 93,546.10 93,546.10 INSTITUTIONAL SHARES DIVIDEND REINVEST 06/06/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -6,191,000 1.0000 6,191,000.00 INSTITUTIONAL SHARES 06/07/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -1.000.000 1.0000 1,000,000.00 INSTITUTIONAL SHARES 0620/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -1.000.000 1.0000 1,000,000.00 INSTITUTIONAL SHARES 06?21/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -2,325.000 1.0000 2 325 000 00 INSTITUTIONAL SHARES 06123/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 2,325.000 1.0000 2.325.000.00 INSTITUTIONAL SHARES 06+30/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 63,835.60 1.0000 63,835.60 INSTITUTIONAL SHARES 06/30/06 CLOSINGBALANCE 13245,745.05 TOTAL 6.2 482 381.70 $11 609 546.10 027 07/01/013:1058 001 v9Il EFTA00196994 CLEARED THROUGH ITS VOICU.Y OUTJED SUBIC/Mire OFFICE SERVICING YOUR ACCOUNT 8.0.51earns Secunike Can. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 One Metaled, Conk. North 9toUten. Now York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 8 STATEMENT PER100 June 1.2006 THROUGH June 30.2006 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER ALAA3ER On File DIVIDENDS LAST STATEMENT May 31.2006 DVE DESCRPTION SYMEJOUCUSIP OVANTRY RATE (Di DEBIT AMOUNT MEM AMOUNT 06/29/06 VECTOR GROUP LTD VGR 159,589 0.4000 63,835.60 REC 06120/06 PAY 06/29/06 TOTAL $63,835.60 Your messages rye NOTICE OF CHANGE PURSUANT TO TRUTH IN LENDING SEC RULE tOb-16 1) The BSSC Fed Funds Rate shall be the rate for U.S. dollar funds, as quoted by an independent broker of such funds selected by BSSC for the The annual rate of interest charged on any credit extended to you by Bear, first transaction completed on the opening of the business day on which Stearns Securities Corp. ("MSC') for the purpose of purchasing, canying or such rate is determined. trading in any security or other property shall continue to be based on either 2) The rate of interest charged to you on any such credit extended to you in the BSSC Margin Basis Rate, the BSSC Fed Funds Rate or the London a currency other than US dollars shall be based on either (i) LIBOR, as Interbank Offered Rate ("UBOR'), as notified to you upon request. The BSSC such rate is compiled by the British Bankers Association and published on Margin Basis Rate will be quoted each business day by BSSC at our main Bloomberg or Reuters, or (ii) any other rate quoted by Reuters that is office in New York, Factors affecting the determination of the BSSC Margin applicable to the currency in which the obligation is denominated or, if a Basis Rate will include the short-term market interest rates quoted by money rate for such currency is not quoted by Reuters, the rate provided by center banks and the Federal Reserve and the rate that BSSC is charged for BSSCs local bank, as notified to you on request. borrowing money. 3) In either case, the annual rate of interest will not exceed a specified percentage above the applicable rate, specifically (i) 3% above the BSSC The purpose of this notice is to advise you that effective no earlier than thirty Margin Basis Rate, (ii) 4% above the BSSC Fed Funds Rate, or (iii) 5% (30) days from your receipt of this statement: above LIBOR, any rate quoted by Reuters or the rate provided by BSSCs local bank, and will appear on your monthly statements. 4) The amount lent to you by BSSC upon which you are charged interest may include purchases of securities for which payment is made by check for which BSSC has not yet received credit. 027 07/01108:1058 001 V911 EFTA00196995 CLEARED THROUGH ITS VOICU.Y ODIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 84181.5111n15 UNARM CYO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cc* Mewled, Conk. North bccItlin. Nov York 11201.3859 STEARNS FINANCLAL TRUST COMPANY INC 9 STATEMENT PER100 June 1.2006 THROUGH June 30.2006 ACCCUNT NUMBER TAXPAYER AVSSER On Ale LAST STATEMENT May 31.2006 If BSSC makes changes in any of the credit terms and conditions described herein or if a change is required by law, we will notify you of such change within a reasonable period of time, unless such change results in the same or a higher rate to you, in which case we will provide you at least 30 days' prior written notice, The annual rate of interest you are charged may fluctuate with changes in the BSSC Margin Basis Rate, the BSSC Fed Funds Rate, LIBOR, any of the rates quoted by Reuters or the rate provided by BSSC's local bank, The changes in rates resulting from this fluctuation will be made without prior notice to you (as contrasted with changes in the credit terms and conditions, notice of which will be provided as described above), The Truth-in-Lending disclosure previously provided to you shall continue to apply except as specifically noted above, End of Statement 027 07/01/08:1018 001 V911 EFTA00196996 0.EARED TNAOUGN RS ~CUT OWILED SUEISIDIAAT OFFICE SERVICING YOUR ACCOUNT 8881.5leanIS SirtxxlIkrt Co .O Boar. Stearns & Co. Inc. BffiR 383 Madison Avenue New York New York 10179 Olo Mental, UNN North 9occhltn. Nov York 11201.3859 STffiRNS FINANCLAL TRUST COMPANY INC ACCOUNT EXECUTIVE ZICHERMAN.IRA STATEMENT PER« Aw1I 29.2006 TELEPHONE ■ THROUGH May 31.2006 VISIT OUR WEBSITE AvAv.bearstearns.com ACCOLNT NOLOER What's In This Statement IIIIIIIIIIIIIIIIIIIllllllllllllllllllllllllllll TAXPAYER AMMER On FIle LAST STATEMENT *II 28.2006 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C/0 AMERICAN YACHT HARBOR Transaction Detail 6 6100 RED HOOK SUTE 8-3 Fund Activity 6 OUAETERS #2 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equwalent — $22.279.363 TOTAL VAWE OF SECURITIES THIS PERIOD 39,200,407 $23.805.242 MONEY HARKET FUND BALANCE 22,279,363 &Niårs 39.200.407 $ 8 746 NET EOUITY THIS PERIOD $61,479,770 Current merket value NET EOUITY LAST STATEMENT 64,887,988 ON Last statemente maket valne CHANGE SINCE LAST STATEMENT -3,408,218 There are no 'Stop Loss' orders or other pending buy or seil open orders on file for your account. Flozo ropar' Ug dINCOfICO Ot norHoctort ol floks or slotta. nelicolod z dolkorod lo Itu. 9awarin br ITOrrthrtHrt8I poTortsos **liks ra @Tendert anta. &omn lo Clioni Son1coo ol 800(34.1429: or vaito lo Cloni SONIC“ a Bow. &*1510 Securnos Tos statoenerO should G rafar4la Hm ~Os Sn Hvem ortlo ra rrporlart necHnX88 Cov . Ogio 1.1flolecli Canly North. 6rooIlyn, N Y 1120141759 027 01501/0I3:1128 001 V909 EFTA00196997 CLEARED THROUGH ITS Cuy ORIVED SUBSIDIARY SW. Sleben SeUxIlkil CUR One Metaled, Conic. North 9roStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 or 7 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 06.01l013:1128 001 V909 EFTA00196998 CLEARED THROUGH ITS WHEW' (AWED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SNP. sown SINNIIMS GOO Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YOrk Nen York 10179 One Metaled, Conk. North DroStkn. Nov York 112013859 STEARNS FINANCIAL TRUST COMPANY INC 3 STATEMENT PERIOD &XII 29.2006 THROUGH May 31.2006 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER NLIUMER On File THIS PERIOD THIS PEROD YEAR TO DATE LAST STATEMENT *11 28.2006 Opening Balance $0.00 Dividends 474.121.79 1.136.773.71 Money Fund 2,096,137.79 Total $474.121.79 $1 136 773.71 Dividends Interest 377.984.00 Amount Credited $2,474,121.79 Portfolio Composition Money Fund -474.121.79 CashCash Equivalent 22.279,363 Funds Withdrawn -2,000.000.00 Equities 39.200,407 Amount Debited $-2.474.121.79 Total $61,479,770 Closing Balance $0.00 Your Portfolio Allocation Cash & Equivale 37% Equities 63% Unteeeti Preen, denote 000* o*r0noo omit, shun Ticket Vitali alocalla' warm": m clawed from to a0so130 Amnon maluo os pxe Actilmo. 027 06.011061128 001 V909 EFTA00196999 CLEARED THROUGH ITS WHOU.Y ODIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT ENV. warns sectwan cow Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Cno Metaled, Conk. North StaltDn. Nov York 112013859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 4 STATEMENT PERK* *11 29.2006 THROUGH May 31.2006 ACCCUNT NUMBER TAXPAYER KAMER On Flk LAST STATEMENT *11 28.2006 Your Portfolio Holdings CASH & CASH EQUIVALENTS MARRS ESTIMATED CURRENT DESCRPRON SYMEWCVSIP OUANTRY PRICE VALUE MNIM. INCOME VELD I%) DREYFUS CASH MANAGEMENT-CL A DICK 22,279,363.35 1.0000 22.279.363 1,024.851 4.6000 INSTITUTIONAL SHARES ESL 30 DAY AVG YIELD 48700% TOTAL CASH & CASH EQUIVALENTS $22,279,363 $1.024,851 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; LI = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third•party research provider and their rating may also be displayed. where such research is available. The various providers use different ratings systems and have normalized them as follows: B = Buy; H = Hold: S = Sell (this may not always correspond directly to the underlying rating system used by each provider or BSC). The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal, or investment advice. Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third•party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at www.bearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. ACC! MARKET ESTIAMED CORN3C DESCRATION SWMEWCUSIP TTPE OUATIRTT PRICE VALUE ANNA. INCOME TEED MI APPLE COMPUTER INC AAPL CASH 20,000 59.7700 1.195.400 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: S BEAR STEARNS COMPANIES INC BSC CASH 130.000 133.7500 17.387.500 145,600 0.8374 COLGATE PALMOLIVE CO CL CASH 56.200 60.3400 3.391.108 71,936 2.1213 BSC RATING: STOCK 0/SECTOR MW BUCKINGHAM RESEARCH RATING: B 027 06.01/06:1128 001 v909 EFTA00197000 CLEARED THROUGH ITS VOICU.Y OMIVED SU8SIDIAAv OFFICE SERVICING YOUR ACCOUNT END. SIMMS SANNIIMI CYO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York Nem York 10179 One Motrotoch Conk. North &aWm. Nov York 11201.3659 STEARNS FINANCIAL TRUST COMPANY INC 5 vi STATEMENT PERK* *11 29.2006 THROUGH May 31.2006 Your Portfolio Holdings (continued) ACCOUNT NUMBER ■ TAXPAYER NLIUMER On File LAST STATEMENT *11 28.2006 Equities & Options (continued) ACCT MARKET ESTIMATED CURFEW DESCR.P1ON SYMB0UDISIP DOE OUATITY PACE VALUE ANNUAL INCOME YELL/ IS) DEERFIELD TFIIARC CAP CORP CASH 1,000.000 12.9800 12.980.000 ACCREDITED INVESTORS ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.6200 62.000 WORLDWIDE INC KERZNER INTERNATIONAL LTD KZL CASH 10.000 79.2900 792.900 BSC RATING: STOCK PiSECTOR MW NED DAVIS RESEARCH RATING: el VECTOR GROUP LTD VGR CASH 159.589 16.7900 2.679.499 255.342 9.5295 WYNN RESORTS LTD WYNN CASH 10.000 71.2000 712.000 BSC RATING: STOCK CVSECTOR MW WALL STREET STRATEGES RATING: B Total Equities& Options $39.200.407 $472.878 TOTAL EQUITIES $39.200.407 $472.878 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,497,729 YOUR PRICED PORTFOLIOHOLDINGS $61.479.770 027 06.011061128 001 V909 EFTA00197001 CLEARED THROUGH ITS WHOLLY OMED SU8SIDIAAv OFFICE SERVICING YOUR ACCOUNT ENV. S(earns SANNIIMI Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 01* Mewled, Conk. North Oro*lin. Nov York 1120/3859 STEARNS FINANCIAL TRUST COMPANY INC 6 ri STATEMENT PERIOD April 29.2006 THROUGH May 31.2006 Transaction Detail ACCCUNT NUMBER ■ TAXPAYER MASSER On Fee DEPOSITS AND WITHDRAWALS LAST STATEMENT *11 28.2006 DATE TPANSACTCYi DESCRVICH CEBIT AMOuNT CREDIT AMOUNT 05/09/06 END WIRED MDA DS WIRED TO 1.000.000.00 05/22/06 END WIRED MOAN ENDS WIRED TO 1.000.000.00 TOTAL 5-2,000.000.00 MONEY FUND ACTIVITY DATE MODAY TRANSACTION DESCRIPTON SYMEOUtUSIP OUANTITY PIECE COW AMOUNT CREDIT AMOUNT 04/29/06 OPENINGBALANCE 23,806,241.56 05/01/06 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICA 96.137.79 INSTITUTIONAL SHARES MONTHLY DIVIDEND 05101/06 REINVEST DREYFUS CASH MANAGEMENT-CL A DICA 96.137.79 96,137.79 INSTITUTIONAL SHARES DIVIDEND REINVEST 05/09/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -1.000.000 1.0000 1,000,000.00 INSTITUTIONAL SHARES 05/15/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 17.984 1.0000 17,984.00 INSTITUTIONAL SHARES 05.122/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -1.000.000 1.0000 1,000,000.00 INSTITUTIONAL SHARES 05/28/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICU 360.000 1.0000 360.000.00 INSTITUTIONAL SHARES 027 0691/06:1128 001 "909 EFTA00197002 CLEARED THROUGH ITS Maly OHIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SW. warns swoon cow. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue Cne Matrotech Conk. North StccItIm. Nat York 112013559 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 7 STATEMENT PERK* April 29.2006 THROUGH May 31.2006 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER KAMER On PIM MONEY FUND ACTIVITY (continued) LAST STATEMENT Aga 28.2006 DATE MORAY TRANSACTOR DESCRIPTION SYLIDX/CUSIP DUMMY PRCE DEBIT AMOUNT CREDIT AMOUNT 05/31/06 CLOSINGEIALANCE 22,279,363.35 TOTAL $.474,121.79 $2,096,137.79 DIVIDENDS DATE DESCRPTION mecums, CUMITITT RATE IS) DEBIT AMOUNT CRECit 0/cHui 05/15106 COLGATE PALMOLIVE CO CL 56,200 0.3200 17684.00 REC 04/24106 PAY 05/15/06 05/26/06 DEERFIELD TRIARC CAP CORP 1.000.000 0.3600 360.000.00 ACCREDITED INVESTORS REC 05104106 PAY 05/26/06 TOTAL $377,984.00 End of Statement 027 06/01/06:11213 001 V909 EFTA00197003 CLEARED THROUGH ITS WHOLLY ONAED SUOSOIARY OFFICE SERVICING YOUR ACCOUNT EOM Stearns Seeudiles Come. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue Coo Mewled, Conic. North aroStlin. Now York 11201.3859 STEARNS New York New York 10179 FINANCIAL TRUST COMPANY INC STATEMENT PER100 Apll 1.2006 ACCOUNT EXECUTIVE t:HERMAN.IRA TELEPHONE THROUGH &Ed 28.2006 VISIT OUR WEEISITE ein.oearstearns.com ACCOUNT NUMBER What's In This Statement 111111111111111111lllll IIIIIIIIIIII111111111111 TAXPAYER MAGER On File LAST STATEMENT Mardi 31.2006 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Porttolio Holdings 4 C/O AMERICAN YACHT HARBOR Transaction Detail 6 6100 RED HOOK SUTE 8-3 Fund Activity 6 OUAETERS #2 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equvalent 3.805.242 TOTAL VAWE OF SECURITIES THIS PERIOD 41,082,746 $26.6 I 6A80 MONEY MARKET FUND BALANCE 23,805,242 Equities $41.082.746 $40.639.886 NET EQUITY THIS PERIOD $64,887,988 Current market value NO Last statement's market value NET EQUITY LAST STATEMENT 67,256,366 CHANGE SINCE LAST STATEMENT -2,368,378 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Nome repro oaf drawee a norwocola of ted's or Maks. metaled Y, clakorod to 'to. lo Gerd Sonic.: al 500634.109: a y.nto lo Clan SavIcos Se Bow. Stamm &canes SIK TNT Emmy/ a ofOroMonel prams only a kea fancied natal dcarnen Tim statecnore should 14 neared for your records So mono sseo AT Maria neconatim Cap. One lAot•olech Cola Nook OroeUri. NY I1201.3t4 027 0620060633 001 1908 EFTA00197004 CLEARED THROUGH ITS WHOLLY ORNED SUBSIDIARY Bear. Reams SecudRes Cup Cm Mewled, Conk. North 9roStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 ol e STATEMENT BACKER IS PRINTED ON THIS PAGE 027 04.29(080833 001 V908 EFTA00197005 CLEARED THROUGH ITS WHOLLY OMED SUBSIDIAAv OFFICE SERVICING YOUR ACCOUNT SNP. warns see-wines corp Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Notated, OWN North &DSO% Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 3 ri STATEMENT PERK* 1. 2006 THROUGH *11 28.2006 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER MAKER ON Foe THIS PERIOD 11-15 PERM YEAR TO DATE LAST STATEMENT March 31.2006 Opening Balance $0.00 Dividends 146,631.69 662.651.92 Money Fund 4,110,231.69 Total $146.631.69 5662 651.92 Dividends/Interest 36,400.00 Miscellaneous 542,130.07 Amount Credited $4.688.761.76 Portfolio Composition CashCash Equivalent 23.805.242 Money Fund -1.188.761.76 Equities 41.082.746 Funds Withdrawn -3.500.000.00 Total 564.887.988 Amount Debited $4.688.761.76 Closing Balance $0.00 Your Portfolio Allocation Cash & Equivale 37% Equities 63% Unteeeti Preen, denote 000! 0ttenCe omit, shod Ticket Vitali alocama warm": is clowod from the amok*, Amnon maw oF pxe Actilmo. 027 04:20(0608:33 001 v906 EFTA00197006 CLEARED THROUGH ITS WHOU.Y ORRIED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 13081.9earns sectywn cow Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cno Metaled, Conk. North boRtlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 4 STATEMENT PERK* 1. 2006 THROUGH April 28.2006 ACCCUPT NUMBER TAXPAYER MAWR ON PIM LAST STATEMENT March 31.2006 Your Portfolio Holdings CASH & CASH EQUIVALENTS PAWS ESTIMATED CURRENT DESCRESON SYMEWCVSIP OLIANTRY PRICE VALUE MNVAL INCOME YELD I% DREYFUS CASH MANAGEMENT-CL A DICK 23,805,241.56 1.0000 23205,242 1,071,236 4.5000 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 4,7100% TOTAL CASH & CASH EQUIVALENTS $23,805,242 $1,071,236 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third party research provider and their rating may also be displayed. where such research is available. The various providers use different ratings systems and have normalized them as follows: B = Buy; H = Hold: S = Sell (this may not always correspond directly to the underlying rating system used by each provider or BSC). The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal, or investment advice. Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at wvnv.bearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. ACC! MARKET ESTPAME0 CURRENT DESCRATION SYMEWCUSIP TIPS OUANI1TT PRICE VALUE ANNUAL INCOME YEW I%) APPLE COMPUTER INC AAPL CASH 20,000 70.3900 1.407.800 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: S BEAR STF_ARNS COMPANIES INC BSC CASH 130.000 142.5100 18.526.300 145,600 0.7859 COLGATE PALMOLIVE CO CL CASH 56.200 59.1200 3.322.544 71,936 2.1651 BSC RATING: STOCK 0/SECTOR MW BUCKINGHAM RESEARCH RATING: B 027 04.28(060833 001 V906 EFTA00197007 CLEARED THROUGH ITS VOICUY OMIVED SUOSIDIAAv OFFICE SERVICING YOUR ACCOUNT SRN. Warns Sea nOn Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Conk. North StaWin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 5 STATEMENT PERIOD Apll 1.2006 THROUGH April 28.2006 Your Portfolio Holdings (continued) ACCOUNT NUMBER ■ TAXPAYER MAWR On PIM LAST STATEMENT March 31.2006 Equities & Options (continued) ACCT IMPKET ESTIMATED CURFEW DESCRPTION SYMBOUOISIP DOE OUATITY PACE VALUE ANNUAL INCOME YELL/ IS) DEERFIELD TFIIARC CAP CORP CASH 1,000.000 13.3400 13.340.000 ACCREDITED INVESTORS ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.7100 71,000 WORLDWIDE INC KERZNER INTERNATIONAL LTD KZL CASH 10.000 78.1400 781,400 BSC RATING: STOCK P/SECTOR MW NED DAVIS RESEARCH RATING: H VECTOR GROUP LTD VGR CASH 159.589 18.0000 2.872.602 255.342 8.8889 WYNN RESORTS LTD WYNN CASH 10.000 76.1100 761,100 BSC RATING: STOCK P1SECTOR MW WALL STREET STRATEGES RATING: B Total Equities& Options $41.082.746 $472.878 TOTAL EQUITIES $41.082.746 $472.878 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $1.544.114 YOUR PRICED PORTFOLIOHOLDINGS $64.887.988 027 0429'0808:33 001 V908 EFTA00197008 CLEARED THROUGH ITS WHOU.Y OMMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 13081. mewls samosa GOO Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Conk. North 9rcdtkn. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 6 STATEMENT PER100 Apll 1. 2008 THROUGH *11 28.2006 Transaction Detail ACCOUNT NUMBER ■ TAXPAYER MAMER On PIM DEPOSITS AND WITHDRAWALS LAST STATEMENT March 31.2006 DATE TRANSMTCN DESORPTION CEBIT AMOUNT CREDIT AMOUNT 04/07/06 FND WIRED WIRED TO 500,000.00 MI S BAhli 04/07/06 FND WIRED WIRED TO 1.000.000.00 8.1.1 04/10/06 FND WIRED WIRED TO 1.000.000.00 hireltrelareitra. :UM 04/24/06 FND WIRED MDAreFNDS WIRED 10 1.000.000.00 SE Eirpt ilk TOTAL $-3,500,000.00 MONEY FUND ACTIVITY DATE IAGOAT TRANSACTION DESCRIPTON SYMEWCUSIP crumarry procc DEBIT AMOUNT CREDIT AMOUNT 04/01/06 OPENINGBALANCE 26,616,479.80 04/03/06 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICA 110,231.69 INSTITUTIONAL SHARES MONTHLY DIVIDEND 04/03/06 REINVEST DREYFUS CASH MANAGEMENT-CL A DICA 110,231.69 110,231.69 INSTITUTIONAL SHARES DIVIDEND REINVEST 04/04/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICU 495.000 1.0000 495.000.00 INSTITUTIONAL SHARES 04/07/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 500,000 1.0000 500,000.00 INSTITUTIONAL SHARES 027 04'28060833 001 "908 EFTA00197009 CLEARED THROUGH ITS VOICUY OMIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 808I. sown section Cat. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue Cno Metaled, Conk. North 9tccItlin. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 7 STATEMENT PERIOD RION 1. 200E THROUGH /VIII 28.2006 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER PA/913ER On File MONEY FUND ACTIVITY (continued) LAST STATEMENT Much 31.2006 DATE MGVAY TRANSACTICN DESCRIPTION SYMEASPOSIP colony PRICE DEBIT mom CREDIT AMOUNT 04/07/06 SOLD DREYFUS CASH MANAGEMENT-CL A DIC/0( -2.000.000 1.0000 2.000.000.00 INS11TUTIONAL SHARES 04/10/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -1.000.000 1.0000 1.000.000.00 INS11TUTIONAL SHARES 04/20ttl6 BOUGHT DREYFUS CASH MANAGEMENT-CL A MCA 47,130.07 1.0000 47,130.07 INS11TUTIONAL SHARES 04/24/06 SOLD DREYFUS CASH MANAGEMENT-CL A DIC)A -1.000.000 1.0000 1.000.000.00 INS11TUTIONAL SHARES 04/28/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DIC)A 36.400 1.0000 36.400.00 INS11TUTIONAL SHARES 04/28/06 CLOSING8ALANCE 23,805,24156 TOTAL $-1.188.761.76 $4.110.231.69 DIVIDENDS DATE OESCRIPTHI1 STAIDOLiCUSIP OUANTITY RATE 40 CENT AMOUNT EllEDIT AMOUNT 04/28/06 BEAR STEARNS COMPANIES INC BSC 130.000 0.2800 36,400.00 REC 04/18/06 PAY 04/28106 TOTAL $36.400.00 MISCELLANEOUS RUE I.10,DAY TPANSACT.CIN DESCRIPTION DEBT ALICUNT CREPT AMOUNT 04/0106 JOURNAL FROM 145,000.00 PER LC 027 04,20060833 001 V908 EFTA00197010 CLEARED THROUGH ITS VOICUY 001VED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8081. Warns SONNI981 Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Denim North 9taltlin. Nov York 11201.3859 STEARNS FINANCAL TRUST COMPANY INC 8 vi STATEMENT PERIOD * 11 1. 2006 THROUGH WI 28.2006 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER AMMER OR He MISCELLANEOUS (continued) LAST STATEMENT March 31.2006 DATE AKIIDAr TRANSACTION DESCRIPTION DEBIT AMCW0 CREDIT AMOUNT 04/03/06 JOURNAL FROM 350,000.00 WA 04/20/06 JOURNAL CLOSING WIRE FORIIIM 47.130.07 100.36 IN IM INCLUDED TOTAL 5542.130.07 End of Statement 027 04:29(0808:33 001 V908 EFTA00197011 CLEARED THROUGH ITS VOICUY ODIVED SUSSIDIAAv OFFICE SERVICING YOUR ACCOUNT 8081. Reams UNARM Cap. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York New York 10179 CceMetrotech Conk. North 9tcc4t101. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC STATEMENT PERIOD March 1.2006 THROUGH March 31.2006 ACCCUNT NUMBER IllmlImVIIIII IIIIIIIIIIIIIIIIIIIIIIIIIII TAXPAYER AMMER On FOE LAST STATEMENT February 28.2006 FINANCIAL TRUST COMPANY INC C/0 AMERICAN YACHT HARBOR 6100 RED HOOK SUTE 6.3 OUAETERS #2 ST THOMAS VI 004302-1348 Ve Pursuant to your previously issued instructions, Bear Steams Securities Corp. provides duplicate monthly statements and/or transaction confirmations to the third parties listed on the cover page of this statement. If you wish to modify or cease distribution to any of the recipients indicated, please contact your Account Executive, This reminder notice will continue to be provided to you on your quarterly statements. Third Party J EPSTEIN & CO 027 04.01,06:10 28 001 V906 EFTA00197012 CLEARED THROUGH ITS VOICU.Y ODEED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beef. steams SIMON Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Cue Metrotech CoMa North atcdttin. Nat York 1120/3859 STEARNS FINANCIAL TRUST COMPANY INC STATEMENT PERK* March 1.2006 ACCOUNT EXECUTIVE LICHERMAN.IRA TELEPHONE THROUGH March 31.2006 VISIT OUR WEBSITE e.ne..uearstearns.com ACCOUNT NUMBER What's In This Statement lllll IIIIIIII1111111111111111 TAXPAYER NUMBER On File LAST STATEMENT Fehmane 28.2006 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C/0 AMERICAN YACHT HARBOR Transaction Detail 6 6100 RED HOOK SUTE B-3 Fund Activity 6 OUAETERS #2 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equivalent 616.480 TOTAL VALUE OF SECURITIES THIS PERIOD 40,639,886 530.392.051 MONEY MARKET FUND BALANCE 26,616,480 Equities 140.639.886 139.342.127 NET EOUITY THIS PERIOD $67,256,366 Current market value MO Last statement's market value NET EQUITY LAST STATEMENT 69,734,178 CHANGE SINCE LAST STATEMENT -2,477,812 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Flom* /opal oaf cliroronoo a roorocolot of tooks or stocks. calcolal as clottnNal to p5u. Ash Ths summary n fat clarmaLtaal OurpOStS My Nis rut eire2led as dcarnte1 lo Gaol Sonic*. al 8004041428: a v,o to Clad Soak.. M Boot Steam &curries Tres aateenert ONO be Maned Et ycdr records See mem ode far mporlare nfainatim Cap.. Co. Meinnecb Ceoir Honk Eireo188, NY. I18014859. 027 04,01,06:10 28 001 V906 EFTA00197013 CLEARED THROUGH ITS YmCuy ORYJED SUBSIDIARY Seal. Reams SeWOOS Cory One Mewled, Conic. North 9toStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 ol STATEMENT BACKER IS PRINTED ON THIS PAGE 027 040/060028 001 EFTA00197014 CLEARED THROUGH ITS 11O1CUY (AWED SUBIC/MEW OFFICE SERVICING YOUR ACCOUNT SRN. Steams see-wines core Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Conk. North StoStlin. Nov York 112014859 STEARNS FINANCIAL TRUST COMPANY INC 3 ri STATEMENT PERKI0 March 1.2006 THROUGH March 31.2006 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER NUMB On File THIS PERIOD TIC PERM YEAR TO DATE LAST STATEMENT February 28.2006 Opening Balance $0.00 Dividends 86.105.50 516,020.23 Money Fund 4.022.269.90 Total $86.105.50 $516,020.23 Dividends/Interest 63,835.60 Miscellaneous 138.323.00 Amount Credited $4.224.428.50 Portfolio Composition Cashtash Equivalent 26.616.480 Money Fund -224.428.50 Equities 40.639.886 Funds Withdrawn .4.000.000.00 Total $67.256,366 Amount Debited $.4.224.428.50 Closing Balance $0.00 Your Portfolio Allocation I Cash &Equivale 40% Equities 60% Unteeeti Preen, denote 000! 0ttenCe omit, shod Ticket Vitali alocama warm": m lowed from to amok*, Amnon mak* os pxe panna. 027 0401OG:10:28 001 V906 EFTA00197015 CLEARED THROUGH ITS ORNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT ENNI. sown sectywn cow Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue Cho Motrobach Conk. North 9rodthn. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 4 STATEMENT PERIOD March 1.2006 THROUGH MarCh 31.2006 ACCCUNT NUMBER TAXPAYER MiNSER On File LAST STATEMENT Februtuy 28.2006 Your Portfolio Holdings CASH & CASH EQUIVALENTS /MRXE1 ESTIMATED CURRENr DESCRPRON SYMEIWCVSIP Suwon PRICE VALUE MAU& INCOME YEW l'a) DREYFUS CASH MANAGEMENT -CL A DICK 26,616,479.80 1.0000 26.616.480 1,064.659 4.0000 INSTITUTIONAL SHARES EST, 30 DAY AVG WED 4.5500% TOTAL CASH & CASH EQUIVALENTS $26.616.480 51,064,659 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; LI = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third party research provider and their rating may also be displayed. where such research is available. The various providers use different ratings systems and have normalized them as follows: B = Buy; H = Hold: S = Sell (this may not always correspond directly to the underlying rating system used by each provider or BSC). The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal, or investment advice. Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at wvAv.bearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. ACCT IMPRE1 ESTIMIED CURRENT DESCRATION SYMEIWCUSIP TYPE OUANIUY PRCE VALUE ANNUAL INCOME TEJON/ APPLE COMPUTER INC AAPL CASH 20,000 62.7200 1.254.400 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: S BEAR STEARNS COMPANIES INC BSC CASH 130.000 138.7000 18.031.000 145,600 0.8075 COLGATE PALMOLIVE CO CL CASH 56.200 57.1000 3.209.020 71,936 2.2417 BSC RATING: STOCK 0/SECTOR MW BUCKINGHAM RESEARCH RATING: 027 04 01 CG:10.28 00. V901; EFTA00197016 CLEARED THROUGH ITS WHOU.Y OMIVED SUSSIDIAAv OFFICE SERVICING YOUR ACCOUNT 8081. Reams Seemiiko Coro Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One MORINO Conk. North EtaItkn. Nov York 1120/3859 STEARNS FINANCIAL TRUST COMPANY INC 5 ri STATEMENT PERIOD March 1.2006 THROUGH March 31.2006 Your Portfolio Holdings (continued) ACCOUNT NUMBER ■ TAXPAYER WESER ON File LAST STATEMENT February 28.2006 Equities & Options (continued) ACCT MARKET ESTIMATED 0.1RFIDVT DESORPTION SYMB0UWWSIP DOE OUATITY PACE VALUE ANNUAL INCOME YELL/ IS) DEERFIELD TFIIARC CAP CORP CASH 1,000.000 13.4900 13.490.000 ACCREDITED INVESTORS ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.6700 67.000 WORLDWIDE INC KERZNER INTERNATIONAL LTD K2L CASH 10.000 77.8200 778.200 BSC RATING: STOCK PiSECTOR MW NED DAVIS RESEARCH RATING: H VECTOR GROUP LTD VGR CASH 159.589 19.0600 3.041.766 255.342 8.3945 WYNN RESORTS LTD WYNN CASH 10.000 76.8500 768.500 BSC RATING: STOCK P/SECTOR MW WALL STREET STRATEGES RATING: B Total Equities& Options $40.639.886 $472.878 TOTAL EQUITIES $40.639.886 $472.878 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $1.537.537 YOUR PRICED PORTFOLIOHOLDINGS $67.256.366 027 0401.06:10 28 001 V906 EFTA00197017 CLEARED THROUGH ITS WHOU.Y TINNED SUBSOIARY OFFICE SERVICING YOUR ACCOUNT 84181. Warns SONNIIMI GOO Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Cno Metaled, Conk. North Oro:Win. Nov York 1120/3859 STEARNS FINANCIAL TRUST COMPANY INC 6 vl STATEMENT PERIOD March 1.2006 THROUGH March 31.2006 Transaction Detail ACCOUNT NUMBER ■ TAXPAYER MAUSER On Fee DEPOSITS AND WITHDRAWALS LAST STATEMENT February 28.2006 DATE TPANSACTO, DESCRP,ICN CEBIT A1A0uNT CREDIT AMOUNT 03/08/06 END WIRED WIRED TO 1.000.000.00 0322,06 FND WIRED SHED TO 1.000.000.00 SE 03/31/06 FND WIRED MDA#M ENDS WIRED TO 2.000.000.00 Balk TOTAL 8-4,000,000.00 MONEY FUND ACTIVITY DATE MOAT TRANSACTION DESCRIPTION SYMO:liCUSIP OUNJTITY POCE DEBIT AMOUNT CREDIT AMOUNT 03/01/06 OPENINGBALANCE 30.392.051.30 03/01/06 DIVIDEND DREYFUS CASH MANAGEMENT-CL A MOM 22,269.90 INSTITUTIONAL SHARES MONTHLY DIVIDEND 03/01/06 REINVEST DREYFUS CASH MANAGEMENT-CL A DICTM 22,269.90 22,269.90 INSTITUTIONAL SHARES DIVIDEND REINVEST 03?08/06 SOLD DREYFUS CASH MANAGEMENT-CL A DIC)M -1.000.000 1.0000 1,000,000.00 INSTITUTIONAL SHARES 03109/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DIC)M 138.323 1.0000 138,323.00 INSTITUTIONAL SHARES 03122/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICM -1.000.000 1.0000 1,000,000 00 INSTITUTIONAL SHARES 027 04DICS:10 28 001 EFTA00197018 CLEARED THROUGH ITS VOICUY OMIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT ONI. Warns Secudees Gap. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Conk. North 9taltlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 7 d STATEMENT PERIOD March 1.2006 THROUGH March 31.2006 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER MAUSER On File MONEY FUND ACTIVITY (continued) LAST STATEMENT February 28.2006 DATE MatMT TRANSACTION DESORIPTICN SYMEAUGIISIP OUANTRY PRICE DEW AMOUNT CREDIT AMOUNT 03/29/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICK% 63,835.60 1.0000 63,835.60 INSTITUTIONAL SHARES 03/31/06 SOLD DREYFUS CASH MANAGEMENT-CL A MCA -2.000.000 1.0000 2,000,000.00 INSTITUTIONAL SHARES 03,31106 CLOSINGBALANCE 26,616,479.80 TOTAL $.224A28.50 $4.022.269.90 DIVIDENDS DATE DESORPTION STAIEICLiCUSIP OLMARITT RATE (SI COO AMOUNT MOH AMOUNT 03/29/06 VECTOR GROUP LTD VGR 159.589 0.4000 63,835.60 REC 03,20106 PAY 03/29/06 TOTAL $63.835.60 MISCELLANEOUS DATE MOAT TRANSACT°, DESCRIPTION DEBT AMOUNT ORECIT AMOUNT 03/09/06 JOURNAL CLOSING WIRE FR 138.323.00 TOTAL $138.323.00 End of Statement 027 04.01,06:10 28 001 "906 EFTA00197019 CLEARED THROUGH ITS WHOLLY OTMED SUISSIDMAy OFFICE SERVICING YOUR ACCOUNT EON SOW'S Searle.. Cap. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York Nen York 10179 Coo Metrotech Center North atoStlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC STATEMENT PERIOD February 1.2006 ACCOUNT EXECUTIVE LICHERMAN.IRA TELEPHONE THROUGH February 28.2006 VISIT OUR WEBSITE 67AV uearstearns.com ACCOUNT NUMBER What's In This Statement 1111111111, 1111, lllll IIIIIIIIIIIIIIIIIIIIIIII TAXPAYER NUMBER On Fee LAST STATEMENT January 31.2006 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C/0 AMERICAN YACHT HARBOR Transaction Detail 6 6100 RED HOOK SUTE 8-3 Fund Activity 6 OUAETERS #2 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equwalent $30.392.051 TOTAL VALUE OF SECURITIES THIS PERIOD 39,342,127 $6.398.537 MONEY MARKET FUND BALANCE 30,392,051 Equities H 139.342.127 138.440.760 NET EQUITY THIS PERIOD $69,734,178 Current market value MO Last statement's market value NET EOUITY LAST STATEMENT 44,789,287 CHANGE SINCE LAST STATEMENT 24.944.891 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Firma rood any cliforonoo a norwoctio1 of teas or socks, nelicolod as <karma lo p5u. b ClOol Sonic*. 01800614.1429: or veto to Clam Bonk.. M Boot &aan &curries Ca,.. One Mnoloct Cooly Hook Droo71m, NY. 112014059 SIK nes ammaP/ 77 7o7 dremaTmoal psepasts only Els roe eland natal &own less staternore should be retailed for your records Soo revere, cede far mporlare acematim 027 0101.06:08:00 001 M302 EFTA00197020 CLEARED THROUGH ITS YmCuy ORYJED SUBSIDIARY Seal. Reams SeWOOS Cory One Metaled, Conk. North 9roStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 or 7 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0101.06:08:04 001 V902 EFTA00197021 CLEARED THROUGH ITS VOICUY OMIED SUBSIDIAAv OFFICE SERVICING YOUR ACCOUNT SNP. Steams see-whet core Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York Nee York 10179 One Notated, Conk. North 9taltlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 3 ri STATEMENT PERK* Fe:nag 1.2006 THROUGH Framer)/ 28.2006 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER WESER On PIM THIS PERIOD MI5 PERIOD YEAR TO DATE LAST STATEMENT January 31.2006 Opening Balance $0.00 Dividends 43,514.73 429,914.73 Money Fund 1027.216.73 Total $43,514.73 $429.914.73 Funds Deposited 25.000.000.00 Dividends/Interest 16.298.00 Amount Credited $26.043514.73 Portfolio Composition CashCash Equivalent 30.392,051 Money Fund -25,043.514.73 Equities 39.342.127 Funds Withdrawn -1.000.000.00 Total $69.734.178 Amount Debited $.26.043.514.73 Closing Balance $0.00 Your Portfolio Allocation Cash & Equoate 44% Equities 56% Unteeeti Preen, demo* 000! 0ttenCe omit, shod Ticket Vitali rho alocama warm": is clowod from to a0to130 manor, mak* oF pxe Actilmo. 027 0101.06:08:04 001 V902 EFTA00197022 CLEARED THROUGH ITS WHOU.Y ORIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Seer. warns Sabrina* Coro Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue One MORINO Conk. North 9=401. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 4 STATEMENT PEF000 February 1.2006 THROUGH February 28.2006 ACCOUNT NUMBER TAXPAYER NURSER On He LAST STATEMENT January 31.2006 Your Portfolio Holdings CASH & CASH EQUIVALENTS SAUCREI ESTIMATED CURRENT DESCRPRON SYMEICIJCVSIP °wow PRICE VALUE ANNUAL INCOME VELD I'M DREYFUS CASH MANAGEMENT -CL A DIM 30,392,051.30 1.0000 30.392.051 1,276.466 4.2000 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 4,3600% TOTAL CASH & CASH EQUIVALENTS $30.392.051 $1.276.466 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firms Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present. the name of an independent, third-party research provider and their rating may also be displayed. where such research is available, The various providers have normalized their ratings systems as follows: B = Buy; H = Hold; S = Sell. The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at wvv.bearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. ACCT MARKET ESTIMATED CURRENT DESCRPTION 5418CIJCUSIP TTF£ QUANTITY PRCE VALUE ANNUAL INCOME TELD (4) APPLE COMPUTER INC AAPL CASH 20.000 68.5400 1.370.800 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: S BEAR STF_ARNS COMPANIES INC 8S0 CASH 130.000 134.4400 17.477,200 145,600 0.8331 COLGATE PALMOLIVE CO CL CASH 56.200 54.4800 3.061.776 65,192 2.1292 BSC RATING: STOCK 0/SECTOR MW BUCKINGHAM RESEARCH RATING: 027 0101:06:08:04 001 EFTA00197023 CLEARED THROUGH ITS OMHTED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Sown SONNIIMI GOO Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Mewled, Conk. North boHtlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 5 STATEMENT PERIOD February 1.2006 THROUGH February 28.2006 Your Portfolio Holdings (continued) ACCOUNT NUMBER ■ TAXPAYER AILIUSER CH PIM LAST STATEMENT January 31.2006 Equities & Options (continued) ACCT MAPITE1 ESTIMATED CURSOR DESCRIPTION SYMBOUCUS1P DOE OUATITY PRCE VALUE ANNUAL INCOME YELL/ IS) DEERFIELD TFIIARC CAP CORP CASH 1,000.000 13.0600 13.060.000 ACCREDITED INVESTORS ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.6500 65.000 WORLDWIDE INC KERZNER INTERNATIONAL LTD KZL CASH 10.000 67.2900 672.900 BSC RATING: STOCK 0/SECTOR MW NED DAVIS RESEARCH RATING: B VECTOR GROUP LTD VGR CASH 159.589 18.6100 2.969.951 255.342 8.5975 WYNN RESORTS LTD WYNN CASH 10.000 66.4500 664.500 BSC RATING: STOCK P1SECTOR MW WALL STREET STRATEGES RATING: B Total Equities& Options $39.342.127 $466.134 TOTAL EQUITIES $39.342.127 $466.134 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $1.742.600 YOUR PRICED PORTFOLIOHOLDINGS $69.734.178 027 0101.06:08:04 001 %MOS EFTA00197024 CLEARED THROUGH ITS WHOLLY ORRIED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT ENV. Warns Secudikn Goo Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 One MORINO Conk. North 9tccItlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 6 STATEMENT PERK* February 1.2006 THROUGH February 28.2006 Transaction Detail ACCOUNT NUMBER ■ TAXPAYER AILIUSER On PIM DEPOSITS AND WITHDRAWALS LAST STATEMENT January 31.2006 04'E 'N,War Ct. DESCRPRON peen smouvr CREDIT AMOUM 02/14/06 FND WIRED MDA FSWSViMM 1.000.000.00 02/28/06 FUNDS AEC FNDS WIRED TO CITIBANK FROM 25.000.000.00 MM. TOTAL $-1,000,000.00 $25,000,000.00 MONEY FUND ACTIVITY DATE ILVDAY TRANSACTION: DESDOIPTIN STAID3UCUSIP CiaNTITY PRICE 0DBIT AMOUNT CREDIT AMOUNT 02/01/06 OPENINGBALANCE 6.348.536.57 02/01/06 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICA 27.216.73 INSTITUTIONAL SHARES MONTHLY DIVIDEND 02/01/06 REINVEST DREYFUS CASH MANAGEMENT-CL A DIG/6( 27,216.73 27216.73 INSTITUTIONAL SHARES DIVIDEND REINVEST 02/14/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -1.000.000 1.0000 1,000,000.00 INSTITUTIONAL SHARES 02/15/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 16,298 1.0000 16.298.00 INSTITUTIONAL SHARES 02/28/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 25.000.000 1.0000 25.000.000.00 INSTITUTIONAL SHARES 027 0101.06:08:00 001 V902 EFTA00197025 CLEARED THROUGH ITS OHIVED SUBS DIARY OFFICE SERVICING YOUR ACCOUNT 808l. warns seaways cow. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue One Metaled, Conk. North bccItlin. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 7 STATEMENT PERK* February 1.2006 THROUGH February 28.2006 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER AILIUSER On PIM MONEY FUND ACTIVITY (continued) LAST STATEMENT January 31.2006 DATE Ih3OAT TRANSACTION DESCRIPTION SYLIEPOUCUSIP crummy PRICE DEBIT AMOUNT CREDIT AMOUNT 02/26/06 CLOSINGSALANCE 30,392,051.30 TOTAL $-25,043,514.73 $1,027,216.73 DIVIDENDS DESCRPTION STMEICUCUSIP OVANTIN RATE 1$) SEEM AMOUNT CREDIT AMOUNT 02/15106 COLGATE PALMOLIVE CO CA. 56.200 0.2900 16,298.00 REC 01/26106 PAY 02(1906 TOTAL $16.298.00 End of Statement 027 030106:0804 DOI V902 EFTA00197026 CLEARED THROUGH ITS WHOLLY 01W.IED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SOW Wawa SerwIlke COO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York Nee York 10179 Ono Mcvatech Conics Noah feccklin. New York 11201.3850 STEARNS FINANCIAL TRUST COMPANY INC STATEMENT PERIOD December 31.2005 ACCOUNT EXECUTIVE LICHERMAN.IRA TELEPHONE THROUGH January 31.2036 VISIT OUR WEBSITE uearstearns.com ACCOUVT NUMBER What's In This Statement IIIIIIIIIIIIIIIIII 11111111111111111111111111111 TAAPATER NUMBER On File LAST STATEMENT December 30.2005 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 3 C.I0 AMERICAN YACHT HARBOR Transaction Detail 5 6100 RED HOOK SUTE13-3 Fund Activity 5 OUAETERS #2 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equvalent ar 48.537 TOTAL VALUE OF SECURITIES THIS PERIOD 38.440.750 $9.438.024 MONEY MARKET FUND BALANCE NET EQUITY THIS PERIOD 6.348.537 $44.789.287 Equ ities $38,440,750 137.445.002 Current market value lin Last statement's market value NET EOLIITY LAST STATEMENT 46.883.026 CHANGE SINCE LAST STATEMENT -2.093.739 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Howe rood oaf clitoronoo a ccoroctiot of dud's or stocks. oulicolod as doltrogoti to p5u. St Tin asuman/ to lot WConebenol Wont. coly roe itiOrldod as a Mr dowelled lo ClOol Sonic*. al 80004-1428: a veto to Choi Smokes M Bow. Steam Sccualos statemere amid be Maned for yaw records Soo renew sole fa modest eacemMeo Coo.. One unlock Cooler Nook EirooNyn, N.Y. 11201-Sea 027 0201A36:18:32 001 1,900 EFTA00197027 CLEARED THROUGH ITS YmCuy ORYJED SUBSIDIARY Seal. Reams SeWOOS Cory One Metaled, Conk. North Oro*lin. Nov York 1120/3859 FINANCIAL TRUST COMPANY INC 2 or 7 STATEMENT BACKER IS PRINTED ON THIS PAGE 021 020MS:18:32 001 V900 EFTA00197028 CLEARED THROUGH ITS 11O1CUY (AWED SUSSIDMAY OFFICE SERVICING YOUR ACCOUNT BM. Steams see-wises core Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Cne Mewled, Conk. North &DSO% Nov York 11201.3859 STEARNS New York New York 10179 FINANCIAL TRUST COMPANY INC 3 ci STATEMENT PERICIO December 31.2005 THROUGH January 31.2006 ACCCUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER MAKER ON Foe THIS PERIOD INS PER= YEAR TO DATE LAST STATEMENT December 30.2005 Opening Balance Dividends 386.400.00 386,400.00 $0.00 Total $386.400.00 5386 400.00 Money Fund 4,029,112.24 Dividends/Interest 386,400.00 Miscellaneous 495,000.00 Amount Credited $4.910,512.24 Portfolio Composition CashCash Equivalent 6,348.537 Money Fund -910.512.24 Equities 38.440.750 Funds Withdrawn 4,000,000.00 Total $44,789,297 Amount Debited $4,910,512.24 Closing Balance $0.00 Your Portfolio Allocation Your Portfolio Holdings CASH & CASH EQUIVALENTS MARKET ESTIMATED CURRENT DESCMPTION SYMBOUELISIP QUANTITY PACE VALUE AANUAL WOW TELE/ NI Cash & Equivalent 16% DREYFUS CASH MANAGEMENT-CL A DICA 6,348,536.57 1.0000 6,348,537 260290 4.1000 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 4.1800‘, TOTAL CASH & CASH EQUIVALENTS $6.348.537 $260.290 Equities 86% Unteded porno., denote clo0t 0ttance omit, shod maim vain TM alocaha' warm": es clowod from to ittS0120 Amnon maw of pxe palIono. 027 020146:18:B 001 Y900 EFTA00197029 CLEARED THROUGH ITS ODNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT EINN. Reams SMARMS. Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Cne Metaled, Conk. North 9toRtlin. Nov York 11201.3859 STEARNS New York Nee York 10179 FINANCIAL TRUST COMPANY INC 4 c, STATEMENT PERIOD December 31.2005 THROUGH January 31.2006 Your Portfolio Holdings (continued) ACCCUNT NUMBER EQUITIES TAXPAYER AVNMER On He LAST STATEMENT December 30.2005 Equities & Options Independent, third•party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost, Customers can access this research at wvv,bearsteams,com or can call (800) 517-2327 to request that a copy of this research be sent to them, ACCT PAANCET ESTIMATED CURRENT DESCRPTION SYMBOLCUSIP nfl QUANTITY PRCE VALLE ANNA. INCOME YELD OiI APPLE COMPUTER INC AAPL CASH 20,000 75.5100 1.510.200 BEAR STEARNS COMPANIES INC BSC CASH 130,000 126.4600 16.439,800 145,600 0.8857 COLGATE PALMOLIVE CO CL CASH 56,200 54.8900 3.084.818 65,192 2.1133 DEERFIELD TRIARC CAP CORP CASH 1,000.000 13.1400 13.140.000 ACCREDITED INVESTORS ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.6800 68.000 WORLDWIDE INC KERZNER INTERNATIONAL LTD KZL CASH 10.000 65.2400 652.400 VECTOR GROUP LTD VGR CASH 159.589 18.1700 2.899.732 255.342 8.8057 WYNN RESORTS LTD WYNN CASH 10.000 64.5800 645.800 Total Equities& Options $38.440.750 $466.134 TOTAL EQUITIES $38.440.750 $466.134 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $726.424 YOUR PRICEDPORTFOLIOHOLDINGS $44.789.287 027 020146:18:32 001 Y900 EFTA00197030 CLEARED THROUGH ITS 01MVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 1308I. Sown Seamless Gore Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 One Metaled, Conk. North 9taltlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 5 STATEMENT PERIOD December 31. 2005 THROUGH January 31.2006 Transaction Detail ACCCUNT NUMBER ■ TAXPAYER M./913ER On Foe DEPOSITS AND WITHDRAWALS LAST STATEMENT December 30.2005 'PANSAC Qt. DESCRPTICN DE811 AMOUNT CREDO AMOUNT 01/03/06 FND WIRED MDA# ENDSWIRED TO 1.000.000.00 BFr 01/10/06 FND WIRED MDAMIMENDS WIRED TO 1.000.000.00 faillir Bab 01/18/06 END WIRED MDA DSWIRED TO 1.000.000.00 FNK FD 01/31/06 END WIRED MDA#CIIIIIIS/VIFIED TO 1.000.000.00 TOTAL 8-4.000.000.00 MONEY FUND ACTIVITY DATE MWDAT TRMJSICTIGNI DESCRIPTON SYMMUCIRIIP CUN4MY PRICE DEBIT AMOUNT CREDO MOUNT 12/31/05 OPENINGBALANCE 9,438,024.33 01/03/06 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -1.000.000 1.0000 1,000,000.00 INS11TUTIONAL SHARES 01/03/06 REINVEST DREYFUS CASH MANAGEMENT-CL A DICA 29,112.24 29,112.24 INSTITUTIONAL SHARES DIVIDEND REINVEST 01/03/06 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICA 29,112.24 INSTITUTIONAL SHARES AMT INCLUDED IN 2006 - 1099 01/10/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 495.000 1.0000 495,000.00 INSTITUTIONAL SHARES 027 0201.06:18:32 001 EFTA00197031 0.EARED THROUGH ITS Maly OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Seer. Reams Seourlike Gore. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 C.10 Metrotab Cola North 9Ø9n. Nov Yak 11201.3859 STD;RNS FINANCIAL TRUST COMPANY INC 6 STATEMENT PERO.) December 31.2005 THROUGH January 31.2006 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER MAWR On FIM MONEY FUND ACTIVITY (continued) LAST STATEMENT December 30.2005 DATE IDDAY TRANSAGIKN DESGRIPTPN SYMECUGUSIP owmny PRICE 003IT AMOUNT CREDIT AMOUNT 01/10/06 SOLD DREYFUS CASH MANAGEMENT-CL A DM -1.000.000 1.0000 1.000.000.00 INS11TUTIONAL SHARES 01/18/06 SOLD DREYFUS CASH MANAGEMENT-CL A MCA -1.000.000 1.0000 1.000.000.00 INS11TUTIONAL SHARES 01/27/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DIC)C< 36.400 1.0000 36,400.00 INS11TUTIONAL SHARES 01/30/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICH 350.000 1.0000 350.000.00 INS11TUTIONAL SHARES 01/31/06 SOLD DREYFUS CASH MANAGEMENT-CL A DIG/2( -1.000.000 1.0000 1.000.000.00 INS11TUTIONAL SHARES 01/31/06 CLOSINGBALANCE 6.348.536.57 TOTAL $-910.512.24 $4.029.112.24 DIVIDENDS DATE DESORPTION SYIJDNICUSIP OUAIATTY PAX (I) CENT AMOUNT GRUNT AMOUNT 01/27/06 BEAR STEARNS COMPANIES INC BSC 130.000 0.2800 36.400.00 REC Otlt 7(06 PAY 01/27/06 01/30/06 DEERFIELD TRIARC CAP CORP ACCREDITED INVESTORS 11•1111 1,000.000 0.3500 350.000.00 REC 12/30/05 PAY 01/30/06 TOTAL $386.400.00 027 020108:18:22 001 9900 EFTA00197032 CLEARED THROUGH ITS vmCuy ORTRED SUOSICHARv OFFICE SERVICING YOUR ACCOUNT SRN. Reams SeOudAel Cat. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York Nee York 10179 One Mewled, Conk. North BroStlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 7 CI STATEMENT PERK* December 31.2005 THROUGH January 31.2006 Transaction Detail (continued) ACCOUNT NUMBER ■ TAXPAYER AVUSER On FIk MISCELLANEOUS LAST &manic December 30.2005 DATE WNW TRANSACTIM DESCEPTC“ DES I OICUM CREPT MA0uNT 01/10/06 JOURNAL FROkl 145,000.00 01/10/06 JOURNAL FROM 350.000.00 TOTAL 5495.000.00 End of Statement 027 02.101106;10:32 001 V➢00 EFTA00197033

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