EFTA00197034

Statements EFTA00197034 CLEARED THROUGH ITS WHOLLY OVMED SUBSIDIARY OFFICE SERVIGP+3 YOUR ACCOUNT seer. steams section GOO Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Motrotoch Conk. North boatlin. Nov York 112013859 STEARNS FINANCIAL TRUST COMPANY INC INVESTMENT PROFESSIONAL ZICHERMAN.IFtA STATEMENT PERIOD June 30.2007 TELEPHONE THROUGH Jul, 31.2007 VISIT OUR WEBSITE ,wnv.bearstearns.com ACCOUNT NUMBER What's In This Statement 1111111111111111111111111111111111111111111111I TAXPAYER AMBER On File LAST STATEMENT June 29.2007 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings ........................... 4 C/O AMERICAN YACHT HARBOR 6 6100 RED HOOK SUTE 6-3 Fund AcTiviTY .......................................... 7 OUAETERS #2 Your Messages ...................................... 9 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equvaient _I'll $12.552.872 TOTAL VALUE Of SECURITIES THIS PERIOD 78153540 $3185235: $7407439 MONEY MARKET FUND BALANCE 12,552,872 Equities 78.153.540 $81.581.379 NET EQUITY THIS PERIOD $90,706,412 Current market value MO Last statements market value NET EMIT? LAST STATEMENT 77,359,175 Short market value CHANGE SINCE LAST STATEMENT 13.347.237 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Promo rood ant Orbronoo a *swats< or ctocks or mocks, normal m clakoroo to ,C.J. lo al0111 Swan or 8001M4.1428: a veto to Clom SONIC.. a Sow. Smarm &comes Cap. Co. Mfloksh Cala North. 8rooNyn, NY. 1120, 4109 sIK This summaryis for informational purposes only. II is not intended as a tax document. This statement should be retained for your records. See reverse side for important information. 027 ossmompito 001 V015 EFTA00197035 CLEARED THROUGH ITS YmCuy ORIVED SUBSIDIARY Seal. Reams SMARR. Cat. One Mewled, Conk. North 9roStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 01 $ STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0E0011070719 001 W15 EFTA00197036 CLEARED THROUGH ITS VOICUY OMNED SUBSIDIARY OFFICE SERWCiNG YOUR ACCOUNT Seer. Steams Secwilks Cat. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Coo Matratech Conk. North bccaltn. New York 1120/3859 STEARNS FINANCIAL TRUST COMPANY INC STATEMENT PERK* June 30.2007 THROUGH JuD 31.2007 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER NUMBER OR FOe THIS PERIOD DC PERIOD YEAR TO DATE LAST STATEMENT June 29.2007 OpeningBalance 3.7,407,438.53 Dividends 62.958.50 834,823.38 Credit Balance Int. 0.00 44.54 Securities Surd 1,289,086.17 Total $62,958.50 $834,867.92 Money Fund 7,537,964.31 Funds Deposited 5,124,265.26 Margin Int. Paid -33,467.28 -40,905.81 Dividends/Interest 41,600.00 Miscellaneous 10,457,933.00 Amount Credited 324,500,848.74 Portfolio Composition Cash/Cash Equivalent 12.552.872 Securities Bought -125.700.00 Equities 78.153.540 Money Fund -16,934,242.93 Dividends/Interest Charged -33.467.28 Total 390,706.412 Amount Debited $-17.093,410.21 Your Portfolio Net Cash Activity 7,407,438.53 Allocation Closing Balance $0.00 Same ON venilens d tam balsam accost boss are not included in lna salon. SUCh tlantiln, as well to details N. all flier IranSOCICIE Pla mod. Meow in TrarnA:lo, Dotal. Cash &Equivalent 14% Cash Balance Summary OPINING CLOSING Margn 7.407.438.53 0.00 Equities seN Net Cash Balance 8-7.407,438.53 $0.00 muscats parsons oast* soot betOnCe and," shod Madrat vain. MO 000.111a1 potatoes is clawed Korn Se atsokso inatkOt WI.F0 OF ,0,1 actilono. 027 OW0917707:19 001 tt015 EFTA00197037 CLEARED THROUGH ITS YMOLLv ORIVED SUBSIDIARY CPHOE SERVICING YOUR AC/OriNT SW. sown see-wines corn Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue One Metaled, Conley North StccIten. Nov York 112013559 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 4 STATEMENT PERK* June 30.2007 THROUGH Jul/ 31.2007 ACCCUPIT NUMBER TAXPAYER AVNSER On File LAST STATEMENT June 29.2007 Your Portfolio Holdings CASH & CASH EQUIVALENTS IMMO DESCRPROPT SYMBOUCWIP OUAPITITY PRICE VALUE DREYFUS CASH MANAGEMENT -CL A DIOC( 12,552,871.62 1.0000 12.552,872 INSTITUTIONAL SHARES EST. 30 DAY AVG YIELD 5.2100% TOTAL CASH & CASH EQUIVALENTS $12,552,872 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 Irtati.baarsleamissam or can call (800) 517.2327 to request that a copy of this research be sent to them. ACCT MOM ESTIMATED ESIMATED DESCRPTION SYMECI.PCUSIP IYPE pµNTITY PRICE VALUE ANNUAL ' ,COPSE YEW MI APPLE INC AAPL CASH 220,000 131.7600 28.987.200 BSC RA11NO: STOCK 0/SECTOR MW BOYAR'S ALTERNATIVE VIEWPOINT RATING: S BEAR STEARNS COMPANIES INC BSC CASH 130,000 121.2200 15.758,600 166,400 1.0559 BOMBARDIER INC-CL B SUB-VTG BMW CASH 20,000 6.0610 121,220 CHOICEPOINT INC CPS CASH 100,000 38.7400 3.874.000 027 06,011070719 001 WIS EFTA00197038 CLEARED THROUGH ITS WHOLLY ORNED SUBSIDIARY OFFICE SERVICING YOUR AC/OliNT SW. Reams SecudiRA Can. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 One Marital, Cerra North Staltlin. Nat York 11201.3559 STEARNS FINANCIAL TRUST COMPANY INC 5 STATEMENT PERM June 30.2007 THROUGH Jul/ 31.2007 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER KAMER On File LAST STATEMENT June 29.2007 Equities & Options (continued) AOCT MARKET ESTIMATED ESTIMATED DESORPTION SYMBCUCuSIP TYRE OLIANIITY PACE VALLE ANNUAL INCOME VELD CaGATE PALMCCIVE CO CL CASH 56,200 66.0000 3.709.200 80,928 2.1818 BSC RATiNG: STOCK 0/SECTOR MW BLICAINGHAM REcEA9CH RATING: B DEERFIELD TRIARC CAP CORP DFR CASH 362,691 10.9700 3.978.720 609,321 15.3145 ENVIRONMENTAL SOLUTIONS ESWW CASH 100,000 0.7500 75.000 wORLOwi0E INC LEHMAN BROTHERS HOLDINGS INC LEH CASH 100,000 62.0000 6.200.000 60,000 0.9677 WYNN RESORTS LTD WYNN MRGN 160,000 96.5600 15.449.600 BSC RAMO: STOCK 0/SECTOR MW WALL STREET STRATEGIES RATING: B Total EquI t es& Options $78,153,540 $916.649 TOTAL EQUITIES $78,153,540 $916.649 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $916.649 YOUR PRICEDPORTFOLIOHOLDINGS $90.706.412 027 OW0110707:19 001 W15 EFTA00197039 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SEMACiNG YOUR ACcOONT Beat. Reams Secunnes Goo. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York, Nell York 10179 One Motrotoch Conk. North Oro:Win. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 6 TIT STATEMENT PERM June 30.2007 THROUGH Jul/ 31.2007 Transaction Detail ACCOUNT NUMBER TAXPAYER NUMER DII File INVESTMENT ACTIVITY LAST STATEMENT June 29,2007 SETTLEMENT TRADE DATE CITE TRANSACT/3N OESCRIPTION STMEICILCUSIP owenw PRICE DEBIT AMOUNT GRECO' AMOUNT 07/13/07 07/10/07 BOUGHT BOMBARDIER INC.CL B SUB-VTG BDRBF 20,000 6.28500 125,700.00 I S 070710 • . • REPORTED PRICE 6,225000 DIFFERENCE •0.080000 07/26/07 07/23/07 SOLD DEERFIELD TRIARC CAP CORP DFR -17,500 13.46190 234,529.64 AVG PRICE SHOWNDETiULS CN REO lanai CITED 07/27/07 07/24/07 SOLD DEERFIELD TRIARC CAP CORP DFR -82,500 12.84270 1,054,556.53 AVG PRICE SHOWN-DETAILS CN REO lanai CITED TOTAL 5,125,700.00 51.289.086.17 DEPOSITS AND WITHDRAWALS DATE TRIAISACTeN DESCRPTION Cf1111AMOUVT CREDIT AMOUNT 07/13/07 FUNDS REC FNDS WIRED TO CITIBANK FROM 1,695.26 OKER P 07/17/07 FUNDS REC FNDS WIRED TOCITIBANK FROM 122,570.00 inialif BANK 07/17/07 FUNDS REC FNDS WIRED TOCITIBANK FROM 5.000.000 00 TOTAL $5.124.265.26 027 000110707:19 001 W15 EFTA00197040 CLEARED THROUGH ITS vmCuy OimuED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT Sat. Reams Secudiku Corp Bear. Swains Si Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 One Metaled, Conk. North boStlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 7 vi1 STATEMENT PERK* June 30.2007 THROUGH JuN 31.2007 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER KAYSER On FIk MONEY FUND ACTIVITY LAST STATEMENT June 29.2007 DATE WRAY TRANSACTOR DESCRIPTOR SYMECUCVSIP OUONMY PRICE DEBIT mom CREDIT AMOUNT 06/30/07 OPENINGBAL.4NCE 3,185.234.50 07/02/07 PM1/1HT DREYFUS CASH MANAGEMENT-CL A DICXX 457,933 1.0000 457,933.00 INSTITUTIONAL SHARES 07/02/07 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DIC10C 21.358.50 INSTITUTIONAL SHARES MONTItY DIVIDEND 07/02/07 REINVEST DREYFUS CASH MANAGEMENT-CL A D1CXX 21.358.50 21,358.50 INSTTIuTiONAL SHARES DIVIDEND REINVEST 07/13/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A O1CXX 4.000.000 1.0000 4.000.000.00 INSTITUTIONAL SHARES 07/13/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 6.001.695.26 1.0000 6.001.695.26 INSTITUTIONAL SHARES 07/13/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -125,700 1.0000 125,700.00 INSTITUTIONAL SHARES 07/17/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 5.000.000 1.0000 5.000.000.00 INSTITUTIONAL SHARES 07/18/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 122,570 1.0000 122,570.00 INSTITUTIONAL SHARES 07/18/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -7.407,438.53 1.0000 7.407.438.53 INSTITUTIONAL SHARES 07/23/07 SOLD DREYFUS CASH MANAGEMENT-CL A DIC10C -33,467.28 1.0000 33.467.28 INSTITuTiCNAL SHARES 07/26/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 234,529.64 1.0000 234,529.64 INSPTuDONAL SHARES 07/27/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 1,096,156.53 1.0000 1.096.156.53 INSTITUTIONAL SHARES 027 009110707:19 001 V015 EFTA00197041 CLEARED THROUGH ITS vmCuy ORNED SUSSICHARv OFFICE SERVICING YOUR aCcOliNT Seat. Reams SARNIA* Goo. Bear. Swains & Co. Inc. BEAR 383 Madison Avenue Cne Metaled, Conk. North 9foStlin. Nov York 11201.3859 STEARNS New York. Nell York 10179 FINANCIAL TRUST COMPANY INC 8 STATEMENT PERIOD June 30.2007 THROUGH Jul/ at . 2007 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER KAMER CO File MONEY FUND ACTIVITY (continued) LAST STATEMENT June 29.2007 DATE AKVDAY TRANSACTKN DESCRIPTOR SYLIOXICUSIP PANTRY PR,CE DEBIT AMOUNT CREDIT AMOUNT 07/31/07 CLOSINDBALANCE 12,552,871.62 TOTAL $-16.934,242.93 $7.587.964.31 DIVIDENDS DATE OESCRPTION STAIEICUCUSIP OUANTITY RATE CS) DENT AMOUNT CREDIT AMOUNT 07/27/07 BEAR STEARNS COMPANIES INC BSC 130.000 0.3200 41500.00 REC 07/I7/07 PAY 07/27/07 TOTAL $41.600.00 INTEREST DATE OESCRPTIOR STAIDOLCUSIP OUANTITY RATE ON Car A1.10UN' CRECIT AI,Outa 07/23/07 INT DB 33,467.28 06/21 • 7 GAL 0 AVG TOTAL $-33.467.28 MISCELLANEOUS DATE LOGOAY TRANSACTION DESCRIPTOR DEBI MIACUUT CREPT AMOUNT 07/02/07 JOURNAL FROM 122,491.00 07/02/07 JOURNAL FROM 335,442.00 07/13/07 JOURNAL FROM 4,000,000.00 027 01.0110707:19 001 V015 EFTA00197042 CLEARED THROUGH ITS vmCuy ORNED SUOMI:miff OFFICE SERNCiNG YOUR ACcOliNT Beal. Ream Secudikm Goo Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 One Metaled, Conk. North Sto*kn. Nov York 112013559 STEARNS FINANCIAL TRUST COMPANY INC 9 STATEMENT PERK* June 30.2007 THROUGH Jul/ 31. 2007 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER MJ%CR On File MISCELLANEOUS (continued) LAST STATEMENT June 29.2007 DATE WOW MMISACTIM DESCRIPTION DIMEAMOUNT MOT AACUM 07/13/07 JOURNAL FROM 6,000,000.00 07/18/07 JOURNAL JOURNAL FROM TYPE 1702 7,407,438.53 07/18/07 JOURNAL JOURNAL FROM TYPE 1702 7,407,438.53 07/23/07 JOURNAL JOURNAL FROM TYPE 1702 33,467.28 07/23/07 JOURNAL JOURNAL FROM TYPE 1702 33,467.28 TOTAL $-7,440,905.81 317,898,838.81 Your messages You are advised to promptly report any inaccuracy or discrepancy in your erf account to your broker and Bear, Steams Securities Corp, ('BSSC') at the telephone numbers listed on the front of this statement, In order to protect your rights, including any rights under the Securities Investor Protection Act ("SIPA", any such communications should be reconfirmed in writing to your broker and FtSqr at the addresses which appear on the front of this statement. End of Statement 027 0301/07,37:19 001 1015 EFTA00197043 CLEARED THROUGH ITS vmCuy ORNED SUBSIOIARv OFFICE SERVICING YOUR ACcOliNT Seal. Reams Sesudik4 Cup Bear. Swains 8 Co. Inc. BEAR 383 Madison Avenue One Metaled, Conk. North 9foStlin. Nov York 11201.3859 STEARNS New Ask Nell York 10179 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD June 1.2007 THROUGH June 29.2007 ACCOUNT NUMBER IIIIIIIIIII IIIIIII lllll TAXPAYER AVSSER On File LAST STATEMENT May 31.2007 FINANCIAL TRUST COMPANY INC C/O AMERICAN YACHT HARBOR ST THOMAS VI 00802-1348 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 Investment Professional, This reminder notice will continue to be provided to you on your quarterly statements, IhirdParty J EPSTEIN & CO 457 MADISON AVE 4TH FLOOR NEW YORK NY 10022 027 06'300707AG 001 41111 EFTA00197044 CLEARED THROUGH ITS 11/11CLLY OV&ED SUOSOIARY OFFCE SERVICING YOUR ACCOUNT Sear. Steams SONAR* Cal) Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Ono Marobach Conk. North Sraltlin. New York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC INVESTMENT PROFESSIONAL ZICHERMAN.IFIA STATEMENT PERK* June 1.2007 TELEPHONE THROUGH June 29.2007 VISIT OUR WEBSITE nvny.bearslearns.com ACCOUNT NUMBER What's In This Statement IlllllllllllllllllllllllllllllllllllllllllllIll TAXPAYER AM MER ON File LAST STATEMENT May 31.2007 Financial Summary ................,............... 3 FINANCIAL MUST COMPANY INC Your Portfolio Holdings ........................... 4 C/0 AMERICAN YACHT HARBOR 6 6100 RED HOOK SUTE 6-3 Fund Activity .......................................... 7 OUAETERS #2 Your Messages ...................................... 9 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash& Equivalent Ail $3.185235 . 87.407.439 TOTAL VALUE OF SECURITIES THIS PERICO 81,581,379 87.259.274 It DEBIT BALANCE -7,407,439 Equities $81.581.379 $84.753.145 MONEY MARKET FUND BALANCE 3,185,235 Current market value NET EQUITY THIS PERIOD $77,359,175 II. Last statements market value Short market value NET ECUITY LAST STATEMENT 92,012,420 CHANGE SINCE LAST STATEMENT -14,653,245 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Roza room oaf cliforonoo a rooroaaig or twits or stocks, oscotal z clotkoroo to 'Oil. sin This summary is for informational purposes only. It is not intended as a tax document. lo al0111 Swan or 800614.1428: a vet to Clan Swan Y Bow. Smarm &comes This statement should be retained for our records. See reverse side for important information. Cap. One 1.1flotali Cook, North. 8rooNri, H.V. 1120141$9 027 06.300707.43 001 V011 EFTA00197045 CLEARED THROUGH ITS VOICuy ORIVED SUBSIDIARY Beef. SleanIS SBMIbf COO. One Metaled, Conic. North 9roStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 01 $ STATEMENT BACKER IS PRINTED ON THIS PAGE 027 06000707:43 001 V011 EFTA00197046 CLEARED THROUGH ITS vmCuy OWNED SUIWOIARY OFFICE SERVICING YOUR ACCOUNT Seal. Steams Secudiles Corp Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Ono MORINO Cala North Staltlin. Nov York 112013559 STEARNS New York. NEW York 10179 FINANCIAL TRUST COMPANY INC 3 i/1 STATEMENT PERK* June 1.2007 THROUGH June 29.2007 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER NUO3ER Cfl File THIS PEFICO 1146 PERIOD YEAR TO DATE LAST STATEMENT May 31.2007 Opening Balance Dividends 46,691.09 771.864.68 $0.00 Credit Balance Int. 0.00 44.54 Money Fund 5,190,917.09 Total $46,691.09 $771,909.42 Funds Deposited 1,023,495.00 Margin Int. Paid -7.438.53 -7,438.53 Amount Credited $6,214,412.09 Money Fund -1,070.186.09 Funds Withdrawn -5,144,226.00 Portfolio Composition Dividends/Interest Charged -7A3B.53 SHORT Low Miscellaneous -7,400.000.00 CasttlCash Equivalent 7,407A39 3.185,235 Amount Debited 3-13,621,850.62 Equities 81.581,379 Net Cash Activity -7,407.438.53 Total 37,407,439 384,766,614 Closing Balance Your Portfolio $-7 407 438.53 Allocation Shoe Cash &Equivalent Cash Balance Summary 8% Mt. AO CLOGIN0 CashaEcwvalent 3% Margin 0.00 -7,407,438.53 Net Cash Balance $0.00 3.7,407,438.53 Egutles 89% Unteeeti Preen, Ronk 0a0t beano, %incite shat Ticket Vitali aloosicn mamas is awed from to aosoLa mark*, nib* of pxe arab. 027 O6'30O7O7N3 001 V011 EFTA00197047 CLEARED THROUGH ITS VOICUY GMED SUBSOIARY OFFICE SERNCiNG YOUR AC/OriNT 8081. Warns Seconike Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New Y New York 10179 One Metaled, Conk. North 9foStlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 4 STATEMENT PERIOD June 1.2007 THROUGH June 29.2007 ACCOUNT NUMBER TAXPAYER AMBER Gfl FIk LAST STATEMENT May 31.2007 Your Portfolio Holdings CASH & CASH EQUIVALENTS MARRS DESCRPTION SvkISCL,Oisp OttANTrTv PRK,E VALUE CASH BALANCE -7,407,439 DREYFUS CASH MANAGEMENT-CL A DICXX 3.185.234.50 1.0000 3,185,235 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 52200% TOTAL CASH & CASH EQUIVALENTS 6-4,222,204 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 mekbearstritams,coM or can call (800) 517.2327 to request that a copy of this research be sent to them, AOC! /MNCET ESTMATE0 ESTIMATED DESCRPTION SYA1BafrCuSIP TYPE OLIAN/ITY PACE VALLE ANNUAL NCOUE TED IN.1 APPLE INC AAPL CASH 220,000 122.0400 26.848,800 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATWE VIEWPOINT RATING: S BEAR STEARNS COMPANIES INC BSC CASH 130,000 140.0000 18.200.000 166,400 0.9143 027 06300707A3 001 V011 EFTA00197048 CLEARED THROUGH ITS vmCuy ODIRED SUOSICHAFiv OFFICE SERNCiNG YOUR AC/Or iNT Seal. Reams SeeRNIOn Cup Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New VOrk. Nell York 10179 Cne Metaled, Conk. North 9foStlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 5 vi STATEMENT PERIOD June 1.2007 THROUGH June 29.2007 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER KAMER On File LAST STATEMENT May 31.2007 Equities & Options (continued) ACC, IMRICET ESTMATED ESTRUM) DESCRPTIOH 5ndB000JSIP DPE DLIMMTY PACE yALLE ANNUAL INCOME YELD cHOICEPOINT INC CPS CASH 100,000 42.4500 4.245.000 CCtGATE PALMCUVE CO CL CASH 56,200 64.8500 3.644.570 80,928 2.2205 BSC RATING: STOCK 0/SECTOR MW BUCKINGHAM REAEArACH RATING: B DEERFIELD TRIARC CAP CORP DFR CASH 462.691 14.6300 6.769.169 777.321 11.4833 ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.7800 78.000 W0RLDWIDE INC LEHMAN BROTHERS HOLDINGS INC LEH CASH 100.000 74.5200 7.452.000 60.000 0.8052 WYNN RESORTS LTD WYNN MFtGN 160.000 89.6490 14.343,840 BSC RATING: STOCK 0/SECTOR MW WALL STREET STRATEGIES B Total Equities& Options $81,581,379 $1,084,649 TOTAL EQUITIES $81.581.379 $1.084.649 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $1.084.649 YOUR PRICED PORTFOLIOHOLDINGS $77.359.175 027 060301:07D7A3 001 V(111 EFTA00197049 CLEARED THROUGH ITS WHOLLY OMNED SUBSIDIARY OFFICE SEAMING YOUR ACrOliNT 84181. Warns Secede* GOO Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 Ow Mewled, Conic. North OroStkn. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 6 o STATEMENT PERK* June 1.2007 THROUGH June 29.2007 Transaction Detail ACCOUNT! NURSER TAXPAYER NASSER On File INVESTMENT ACTIVITY LAST STATEMENT May 31,2007 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION ST1A301AUSIP atomic PACE DEBIT AMOUNT MUM PACUNT 06/15/07 JOURNAL WYNN RESORTS LTD WYNN -160,000 JOURNAL FROM TYPE 1 TO 2 06/15/07 JOURNAL WYNN RESORTS LTD WYNN 160,000 JOURNAL FROM TYPE 1 TO 2 TOTAL DEPOSITS AND WITHDRAWALS DATE reuesACtiOtt DESCRIPTION DE911 AMOUNT CREDIT AMOUNT 06101/07 FND WIRED MDA# NDS WIRED TO 1.000.000.00 Pi A 06/06/07 FND WIRED MDA#MB447945ENDS WIRED TO 1.000.000.00 R ASE Bibs 06/13/07 FND WIRED MDA#Iv1B453372FNDS WIRED TO 1,000,000.00 ASE BANK N4 06/18/07 FUNDS REC ENDSWIRED TO CITIBANK FROM 1,023,495.00 OKER 06/19/07 FND WIRED MDAS/IIIIIIIMENDS WIRED TO 144.226.00 06/27/07 FND WIRED MEM aNDS WIRED TO 1.000.000.00 ASE Bias 08300707:43 001 V011 EFTA00197050 CLEARED THROUGH ITS vmCuy OwnED SUSSICHAFiv OFFICE SERNCiNG YOUR ACnOliNT Sat. Ream SeconlIes Cop Bear. Stearns 8. Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 One Matrotach Conk. North 9foStlin. Nat York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 7 v/1 STATEMENT PERM June 1.2007 THROUGH June 29.2007 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER AVUSER Cfl FIM DEPOSITS AND WITHDRAWALS (continued) LAST STATEMENT May 31.2007 DATE WAISACTOI DESCRIrICH DEBIT AMOUNT CREDIT MAXIM 06/28/07 FND WIRED MDA-ta ENDS WIRED TO 1,000,000.00 ASE TOTAL $-5.144.226.00 $1.023.495.00 MONEY FUND ACTIVITY DATE MOAT TRANSACTION Of-SCRIPTCN SYMKSICIAIP GUMMY PYCE DEBIT AMOUNT CREDIT AMOUNT 06/01/07 OPENINGBALANCE 7,259,274.41 06/01/07 SOLD DREYFUS CASH MANAGEMENT-CL A Die= -1,000,000 1.0000 1.000.000.00 INSTITUTIONAL SHARES 06/01/07 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DOM 46.691.09 INSTITUTIONAL SHARES MONTItY DIVIDEND 06/01/07 REINVEST DREYFUS CASH MANAGEMENT-CA. A DIC)2( 46.691.09 46,691.09 INSTITUTIONAL SHARES DIVIDEND REINVEST 06/06/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -1.000.000 1.0000 1.000.000.00 INSTITUTIONAL SHARES 06/13/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -1.000.000 1.0000 1,000,000.00 INSTITUTIONAL SHARES 06/18/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A Die= 1.023.495 1.0000 1.023.495.00 INSTITUTIONAL SHARES 06/19/07 SOLD DREYFUS CASH MANAGEMENT-CL A MCA -144,226 1.0000 144,226.00 INSTITUTIONAL SHARES 06/27/07 SOLD DREYFUS CASH MANAGEMENT-CA. A OICXX -1.000.000 1.0000 1,000,000.00 INSTITUTIONAL SHARES 027 060300707:43 001 I1011 EFTA00197051 CLEARED THROUGH ITS WHOLLY ONIVED SUEISIDIAAv OFFICE SERVICING YOUli ACcOliNT 8081. warns seances cow Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue One Mewled, Conk. North bcdtlin. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL. TRUST COMPANY INC 8 STATEMENT PERIOD June 1.2007 THROUGH June 29.2007 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER AMMER ON File MONEY FUND ACTIVITY (continued) LAST STATEMENT May 31.2007 DATE AKIIMY TPANSACTKN DESOTIPTION SYMDX/CUSIP QUANTITY PRICE 003IT AMOUNT CREDIT AMOUNT 06/28/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -1.000.000 1.0000 1,000,000.00 INSITturiCNAL SHARES 06/29/07 CLOSINGBALANCE 3,185,234.50 TOTAL 8-1,070,188.09 $5,190,917.09 INTEREST CESCRPTION SYIEEIOUCUSIP OUMITITY RATE I%1 GENT AMOUNT CREW AMOUNT 06 2 '07 INT DB 7.438.53 05/21 .03125% SAL 7400000 AVG 1432258 $-7.438.53 MISCELLANEOUS DATE MGDAY TRANSACTION DESCRIPTION DEW AMOUNT CREPT AMOUNT 06/15/07 JOURNAL TO 7.400.000.00 TOTAL 6-7,400,000.00 027 06.300707:43 001 N311 EFTA00197052 CLEARED THROUGH ITS WHOLLY ODIVED SUSSIDIAAv OFFICE SERVICING YOUR ACcOliNT 8.N. warns snows CYO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 CceMatrotach Conk. North 9tcc4tDn. Nat York 11201.3859 STEARNS FINANCtAL TRUST COMPANY INC 9 STATEMENT PER100 June 1.2007 THROUGH June 29.2007 ACCCUNT NUMBER TAXPAYER AMMER On File Your messages LAST STATEMENT May 31.2007 Confirmation: Unless we hear from you to the contrary, it is our understanding SPECIAL NOTICE FOR MARGIN CUSTOMERS ra' that any free credit balances in your account are being maintained to facilitate your intention to invest such amounts through us, If you are a customer with a margin account, you consent to Bear Steams right to use, lend or pledge any securities held by Bear Stearns in your margin account, In certain circumstances, such loans or other use may limit, in whole or in part, your ability to receive dividends directly from the issuing company and/or your right to exercise voting and other attendant rights of ownership with respect to the loaned, sold or pledged securities. Such circumstances include, but are not limited to, bans of securities that you own in your margin account that continue over record dates for voting purposes and ex-dividend dates for dividend distributions. If you do not receive dividends directly from the issuing company, you may receive payments-in-lieu of dividends which could cause you to lose the benefit of the preferential tax treatment accorded to dividends. You are advised to promptly report any inaccuracy or discrepancy in your account to your broker and Bear, Steams Securities Corp, ('BSSC') at the fa" Inorders an effort to maximize execution quality, Bear Stearns may route your equity to its Smart Order Router (SOR), The SOR accepts limit and market telephone numbers listed on the front of this statement, In order to protect orders and automates their routing across several sources of liquidity in an your rights, including any rights under the Securities Investor Protection Act attempt to maximize price and minimize market impact with respect to your ("SIPA"), any such communications should be reconfirmed in writing to your order. The SOR routes orders using proprietary algorithms that scan broker and RS ' at the addresses which appear on the front of this exchanges, ECN's and other liquidity venues before it decides a strategy statement, designed to achieve an optimal execution for clients, The SOR may in the course of executing an instruction change the entered order type from market to limit or may change the entered limit price in an attempt to obtain the best price. Although the Firm believes that the regular use of this technology benefits clients by achieving overall better execution quality, we cannot guarantee an optimal execution on any individual order. End of Statemen 027 08,300707A3 001 %OTT EFTA00197053 CLEARED THROUGH ITS 1901CLLY COMM SUBSIDIARY OFFICE SERVICING YOUR AOPOONT ENV. steams smote core. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Nell York 10179 One Mewled, Calm North Smcklin. Nov York 11201-1559 STEARNS FINANCIAL TRUST COMPANY INC INVESTMENT PROFESSIONAL ZICHEFUAAN.IFtA STATEMENT PERIO0 May 1.2007 TELEPHONE THROUGH May 31.2007 WM OUR WEBSITE .wm.bearstearns.com ACCOUNT NUMBER What's In This Statement 11111111111111111111111 1,1111111111,11111111111 TAXPAYER NUMBER Om File LAST STATEMENT April 30.2007 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings ........................... 4 C/0 AMERICAN YACHT HARBOR 6 6100 RED HOOK SUTE B-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 & Equvalent ll i ta 9274 TOTAL VALUE Of SECURITIES THIS PERIOD 84,753,146 SI7 756 525 MONEY MARKET FUND BALANCE 7,259,274 Equities $84.753.146 $81251.555 NET EQUITY THIS PERIOD $92,012,420 Current market value MO Last statements market value KEY ECUIIY LAST STATEMENT 99,008,080 CHANGE SINCE LAST STATEMENT -6.995.660 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Roza row ant clibronoo a ronrommo ol chmIL. or Rocks. neColcO z clakorod to Iw. sin This summary is for informational purposes only. It is not intended as a lax document. to Chmi Sonic*. of 800(041428: a %no to OM Soak.. a Bow. &warm &conies This statement should be retained for our records. See reverse side fix important information. Car.. One MalwINI, Carly Hodh. O,00J,n, NY. 112014859 027 061)1/0705A4 001 V(110 EFTA00197054 CLEARED THROUGH ITS YR10LLY ORNED SUBSIDIARY Seer. Warns Secudiko 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 OS'01N105:N 001 V010 EFTA00197055 CLEARED THROUGH ITS WHOLLY 01WED SUBSIDIARY OFFICE SEIWICW3 YOUR ACCOUNT Sear. SIMMS Seetribtr COP. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Nen York 10179 Cao Llettotech Corder Noah Elecck/on. Nee; Tett 1120/3859 STEARNS FINANCIAL TRUST COMPANY INC 3 ri STATEMENT PER100 May 1.2007 THROUGH May 31.2007 AGLOW! NUMBER Cash Flow Analysis Income Summary TAXPAYER PALMER On File THIS PERICO 'DES PER OD YEAR TO DATE LAST STATEMENT *II 30.2007 Opening Balance $0.00 Dividends 302.749.37 725,173.79 Credit Balance Int. 0.00 44.54 Money Fund 10,873,187.15 Total $302.749.37 $725,218.33 Dividends/Interest 229.562.22 Amount Credited $11,102,749.37 Money Fund -302,749.37 Portfolio Composition Funds Withdrawn •10,800,000.00 Cash/Cash Equivalent 7,259,274 Amount Debited $-11.102.749.37 Equities 84.753,146 Closing Balance $0.00 Total $92.012.420 Your Portfolio Allocation CEISh&EquIval&RI 7% Equities 93% lindet0od porbons Ono* oast Warm sock, short maoket vats. Re aloomon patentor is clomod from do attsokee market Moo or vote pailmo. 027 0801/07D5A4 001 V010 EFTA00197056 CLEARED THROUGH ITS OMIVED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT ENV. sown sectwon cow. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue One Metaled, Conley North StoRtlin. Nov York 112014559 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 4 STATEMENT PERIOD May 1.2007 THROUGH May 31.2007 ACCOLIET NUMBER TAXPAYER AMMER On File LAST STATEMENT April 30.2007 Your Portfolio Holdings CASH & CASH EQUIVALENTS .PWNE DESCRPRON SYMBOUCWIP 00ANTITY NICE VNME DREYFUS CASH MANAGEMENT -CL A DIOC( 7,259,274.41 1.0000 7.259.274 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 5,1900% TOTAL CASH & CASH EQUIVALENTS $7,259274 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 Irtati.baarsleamissam or can call (800) 517.2327 to request that a copy of this research be sent to them. ACCT IMINCE1 ESTIMATED ESTIMATED DESCRPTION SWMECl/CUSIP TYPE QUANTITY PRCE VALUE ANNUAL WOW YEW I%4 APPLE INC AAPL CASH 220,000 121.5600 26.743.200 BSC RATING: STOCK 0/SECTOR MW BOYAR'S ALTERNATIVE VIEWPOINT RATING: S BEAR STEARNS COMPANIES INC BSC CASH 130,000 149.9600 19.494,800 166,400 0.8536 CHOICEPOINT INC CPS CASH 100,000 43.8600 4.386.000 027 06.01/0705A4 001 VOID EFTA00197057 CLEARED THROUGH ITS 19mCuy GRIMED SUBSIDIARY OFFICE SERVICING YOUR AC/OriNT SW. Reams SMARM Cava Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New VOrk. Nell York 10179 One Metaled, Conk. North 9foStlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 5 vi STATEMENT PERK* May 1.2007 THROUGH May 31.2007 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER AMBER On File LAST STATEMENT *II 30.2007 Equities & Options (continued) ACCT MARKET ESTIMATED ESTMATED DESCRPTION snitscucusor NEE OLIAMITY PACE VALLE ANMJAL INCO1AE VELD Cal COLGATE PALMOLIVE CO CL CASH 56,200 66.9600 3.763.152 80,928 2.1505 BSC RATiNG: STOCK 0/SECTOR MW BUCXINGNAM REAEADCN RATING: B DEERFIELD TRIARC CAP CORP DFR CASH 462.691 16.2000 7.495.594 777.321 10.3704 ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.8600 86.000 WORLDWIDE INC LEHMAN BROTHERS HOLDINGS INC LEH CASH 100,000 73.3800 7.338.000 60,000 0.8177 WYNN RESORTS LTD 1VYNN CASH 160,000 96.5400 15.446.400 BSC RAMO: STOCK 0/SECTOR MW WALL STREET STRATEGIES RATING: B Total Equities& Options $84753.146 $1.084.649 TOTAL EQUITIES $84.753.146 $1.084.649 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1.084.649 YOUR PRICED PORTFOLIOHOLDINGS $92.012.420 027 06.01107D5A4 001 8010 EFTA00197058 CLEARED THROUGH ITS vmCuy NED SUBSIDIARY COME SERVICING YOUR ACcOliNT Seal. Reams SectAINA Goo Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New VANN Nell York 10179 One Marital, Cerra North baltlin. Nat York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 6 vi STATEMENT PERIOD May 1.2007 THROUGH May 31.2007 Transaction Detail ACCOUNT NUMBER TAXPAYER KAMER Cfl File DEPOSITS AND WITHDRAWALS LAST STATEMENT *11 30.2007 DATE IMAISACTCN DESCPP'ICH DERN AMCOR CREDIT AMOUNT 05/09/07 FND WIRED MDA#I NOS WIRED 10 1,000,000.00 SE Biiiiiiiill 05/09/07 FND WIRED MDAtteENDS WIRED TO 7,800,000.00 IIMIS SE ISM 05/21/07 FND WIRED MDA# ENDS WIRED TO 1,000,000.00 05/22/07 FND WIRED MDAMAIIIMENDS WIRED TO 1,000,000.00 ASE McN abb TOTAL $-10,800,000.00 MONEY FUND ACTIVITY DATE Mal)AY TRANSACTION DESCRIPTCN SYMECtICAISIP PRCE CESIT AMOUM CREDIT AMOUNT 05/01/07 OPENINGBALANCE 17 756 525.04 05/01/07 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICXX 73,187.15 INSTITuriCNAL SHARES MONTHLY DIVIDEND 05/01/07 REINVEST DREYFUS CASH MANAGEMENT-CL A DICK% 73,187.15 73,187.15 INSTITUTIONAL SHARES DIVIDEND REINVEST 05/09/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -1.000.000 1.0000 1,000,000.00 INSTITUTIONAL SHARES 05/09/07 SOLD DREYFUS CASH MANAGEMENT-CL A DIOCC -7,800,000 1.0000 7,800,000.00 INSTITUTIONAL SHARES 027 06.01.07O5A4 001 VOID EFTA00197059 CLEARED THROUGH ITS YMQLY OismED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT Sm.Reams Sea (Mei Carp Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 One Metaled, Conk. North Sto*kn. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 7 vi STATEMENT PERM May 1.2037 THROUGH May 31.2007 Transaction Detail (continued) Acccusii NUMBER TAXPAYER KAMER On File MONEY FUND ACTIVITY (continued) LAST STATEMENT A0'30.2007 DATE SOGAT TRANS/COM Of-SOTIPTION SYMEWCUSIP OVANMY PRCE 00&T AMOUNT CREDIT AMOUNT 05/15/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 20232 1.0000 20,232.00 INSIoutiCNAL SHARES 05/21/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -1.000.000 1.0000 1,000,000.00 INSTITUTIONAL SHARES 05/22/07 SOLD DREYFUS CASH MANAGEMENT-Cl. A Oleg< -1,000.000 1.0000 1,000,000.00 INSTITUTIONAL SHARES 05/23/07 BOUGHT DREYFUS CASH MANAGEMENT-Cl. A DICA 15,000 1.0000 15.000.00 INSTITUTIONAL SHARES 05/30/07 BOUGHT DREYFUS CASH MANAGEMENT-Cl. A DICXX 194,330.22 1.0000 194.330.22 INSTITUTIONAL SHARES 05/31;07 CLOSINGBALANCE 7.259.274.41 TOTAL 5-302.749.37 $10.873.187.15 DIVIDENDS DATE OESCRSTION SYMECIJCUSIP GUMMY RATE GENT AMOUNT CREDIT AMOUNT 05/15/07 COLGATE PALMOLIVE CO CL 56,200 0.3600 20,232.00 REC 04/24/07 PAY 05/15/07 05/23/07 LEHMAN BROTHERS HOLDINGS INC LEH 100,000 0.1500 15,000.00 REC 05/15/07 PAY 05/23/07 05/30/07 DEERFIELD !MARC CAP CORP DFR 462,691 0.4200 194.330.22 REC 05/07/07 PAY 05/30/07 TOTAL 5229.562.22 027 06.01/0705A4 001 VOIO EFTA00197060 CLEARED THROUGH ITS ymCu.Y ORRIED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT Seal. Reams Secudli* Cup Bear. Steams & Co. Inc. BEAR 383 Madison Avenue One Metaled, Conk. North 9toStlin. Nov York 11201.3859 STEARNS New York. Nell York 10179 FINANCtAL TRUST COMPANY INC 8 vi STATEMENT PEFROO May 1.2007 THROUGH May 31.2007 AcccuNT NUMBER TAXPAYER AMMER On FIk Your messages LAST STATEMENT NW 30.2007 You are advised to promptly report any inaccuracy or discrepancy in your account to your broker and Bear, Steams Securities Corp, (BSSC') at the telephone numbers listed on the front of this statement, In order to protect your rights, including any rights under the Securities Investor Protection Act ("SIPA"), any such communications should be reconfirmed in writing to your broker and BSSC at the addresses which appear on the front of this statement, End of Statement 027 06.0110705A4 001 V010 EFTA00197061 CLEARED THROUGH ITS WHOLLY GMED SU6SIDIAAv OFFICE SERVICING YOUR ACCOUNT tear. Reams Seeuriaes Core. Bear. Stearns & Inc. BEAR 383 Madison Avenue New York. New York 10179 One Notated, Conk. North bcdtlin. Now York 11201.1859 STEARNS FINANCIAL TRUST COMPANY INC INVESTMENT PROFESSIONAL ZICHERMAN.IFtA STATEMENT PERO) March 31.2007 TELEPHONE THROUGH April 30.2007 VISIT OUR WEBSITE ‘vmv.bearstearns.com ACCOUNT NUMBER What's In This Statement IlllllllllllllllllllllllllllllllllllllllllllIll TAXPAYER NUWIER On File LAST STATEMENT March 30.2007 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings ........................... 4 C/O AMERICAN YACHT HARBOR 6 6100 RED HOOK SUTE B-3 Fund W*4 OUAETERS #2 ........................... 6 ST THOMAS VI 00802-1348 Your Messages ...................................... 8 Your Portfolio at a Glance Market Value of Your Portfolio Cash & violent 517.756.525 TOTAL VALUE OF SECURITIES THIS PERIOD 81,251,555 515275.886 MONEY MARKET R.W0 BALANCE 17,756,525 Equities 881.251.555 476.679.336 NET EQUITY THIS PERIOD $99,008,080 Current market value IIII Last statements market value NET EOUITY LAST STATEMENT 91,955,222 CHANGE SINCE LAST STATEMENT 7,052.858 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Plaza rood ant Offoracto a fasfocola of tech, or sKKks. calcalod z dalhyrod to p5u. Chani Sonic*. al 500€04.1428: a vat to Clad Sank.. a Boot Rearm &comes Car. One 1.1floloth Cala North. 8cooMpt NY 112014859 sIK This summary is for informational purposes only. It is not intended as a tax document. This statement should be retained for our records. See reverse side for important information. 027 0901/0707:14 001 v009 EFTA00197062 CLEARED THROUGH ITS WHOLLY ORNED SKISICHAAv Seal. Reams RecutWei 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 05,011070714 001 V009 EFTA00197063 CLEARED THROUGH ITS MOLLY OMED SUBSIDIARY OFFCE SERVICING YOUR ACCOUNT Beet. Steams SIMON CYO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Ono Mafrotech Conte. HMI 9roStlin. MN/ York 1120/3859 STEARNS FINANCIAL TRUST COMPANY INC 3 c./ STATEMENT PERK* MVO 31.2007 THROUGH AprIl 30.2007 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER NUMBER On File THIS PEFICO T o6 PERM YEAR TO DATE LAST STATEMENT Wirth 30.2007 Opening Balance $11,500,000.00 Dividends 99.042.68 422,424.42 Credit Balance Int. 0.00 44.54 Money Fund 100.846.63 Total $99,042.68 $422.468.96 Dividends/Interest 41,600.00 Miscellaneous 2,425,000.00 Amount Credited $2.567.446.63 Portfolio Composition Money Fund -14,024,042.68 CashtCash Equivalent 17.756.525 Miscellaneous -43.403.95 Equities 81.251.555 Amount Debited $-14.067,446.63 Total $99.008.080 Net Cash Activity -11,500,000.00 Closing Balance $0.00 Your Portfolio Allocation Cash Balance Summary OPEkhO CLOSING Cash 11.500.000.00 0.00 Cash aEquivatent — 8b Net Cash Balance $11,500,000.00 $0.00 Equlbes 82% UntivOed parer* Ono* (woe balance omit, shod (WV% vaLOS. MO OFOONNei pompous is clowod from Oro atrial= fralfk01 WI.F0 OF ,tte Actilmo. 027 OS01)0707:14 001 0009 EFTA00197064 CLEARED THROUGH ITS IMICUY ORRIED SUBSIDIARY OFFICE SERVICING YOUR AC/OliNT SW. sown seowoot cow Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue One MORINO Conte. North StoStkn. Nov York 112014559 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 4 STATEMENT PERK* March 31.2007 THROUGH April 30.2007 ACCCUNT NUMBER TAXPAYER MASSER On File LAST STATEMENT March 30.2007 Your Portfolio Holdings CASH & CASH EQUIVALENTS MATIXET DESCRPRON SYMBOUCUSIP OUANTITT PRICE !ME DREYFUS CASH MANAGEMENT -CL A DIOCL 17,756,525.04 1.0000 17,756,525 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 5,1600% TOTAL CASH & CASH EQUIVALENTS $17,756,525 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 Irtati.baarsleamissam or can call (800) 517.2327 to request that a copy of this research be sent to them, ACCT TWEET ESTIMATED ESTIMATED DESCRPTION STMECIJCUSIP TYPE QUANTITY PRICE VALUE ANNUAL INCOME YEW I%4 APPLE INC AAPL CASH 220,000 99.8000 21.956.000 BSC RATING: STOCK 0/SECTOR MW BOYAR'S ALTERNATIVE VIEWPOINT RATING: S BEAR STEARNS COMPANIES INC BSC CASH 130,000 155.7000 20.241.000 166,400 0.8221 CHOICEPOINT INC CPS CASH 100,000 37.9700 3.797.000 027 0901107071 4 001 V009 EFTA00197065 CLEARED THROUGH ITS VOICUY ODIVED SUBSIDIARY OFFICE SEKNOiNG YOUR AC/OliNt ENV. Reams SMARM Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 One Mewled, Conk. North Sto*Dm Nov York 11201.3559 STEARNS FINANCIAL TRUST COMPANY INC 5 STATEMENT PERIOD March 31.2007 THROUGH *1 30.2007 Your Portfolio Holdings (continued) ACCCUNT NUMBER TAXPAYER AVSMER On File LAST STATEMENT Mardi 30.2007 Equities & Options (continued) ACCT MARKET ESTATATD) ESTIMATED DESORPTION STAIBCCPOUSIP TYPE DUANTITT PACE VALUE ANMJAL DIMAS YEW 1/4 CaGATE PALMCCIVE CO CL CASH 56,200 67.7400 3.806.988 80,928 2.1258 BSC RATiNG: STOCK 0/SECTOR MW BUCXINGIIMA REAEAsCH RATING: B DEERFIELD TRIARC CAP CORP DFR CASH 462,691 16.1900 7.490.967 777,321 10.3768 ENVIRONMENTAL SOLUTIONS ESWW CASH 100,000 0.7800 78.000 wORLOYAOE INC LEHMAN BROTHERS HOLDINGS INC LEH CASH 100,000 75.2800 7.528.000 60,000 0.7970 WYNNRESORTS LTD WYNN CASH 160,000 102.2100 16.353.600 BSC RAMO STOCK 0/SECTOR MW WALL STREET STRATEGIES RATING: B Total Equities& Options $81,251,555 $1,084,649 TOTAL EQUITIES $81,251,555 $1,084,649 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1.084.649 YOUR PRICEDPORTFOLIOHOLDINGS $99.008.080 027 0&0110707:I4 901 V009 EFTA00197066 CLEARED THROUGH ITS ymCu.Y OED SUBSIDIARY COME SERVICING YOUR ACIOUNT Sm.Reams SecwWei Goo Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 Cne Metaled, Conk. North 9toStlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 6 thin STATEMENT PERK* March 31.2007 THROUGH April 30.2007 Transaction Detail ACCCUNT NUMBER TAXPAYER /AMER OR File INVESTMENT ACTIVITY LAST STATEMENT Minh 30.2007 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRPTION SYMBOL:CUSP GUMMY PLACE DEBIT AMOUNT CHEM AMOUNT 04/24/07 EXCHANGE DEERFIELD TRIARC CAP CORP -462,691 ACCREDITED INVESTORS EXCHANGE 00132 04/24/07 EXCHANGE DEERFIELD MIMIC CAP CORP DEFT 462,691 EXCHANGE 00129 TOTAL MONEY FUND ACTIVITY DATE MO:DAY TRANSACTION DESCRIPTOR STIA03L.CUSIP OLMNTITY PP.CE DEBIT AMOUNT CREDIT AMOUNT 03/31/07 OPENINGBALANCE 3,775,886.31 04/02/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 2.425.000 1.0000 2.425.000.00 INSTITUTIONAL SHARES 04/02/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DMA( 11.500.000 1.0000 11.500.000.00 INSTITUTIONAL SHARES 04/02/07 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DMA( 57.442.68 INSTITUTIONAL SHARES MONTItY DIVIDEND 04/02/07 REINVEST DREYFUS CASH MANAGEMENT-CL A DICXX 57.442.68 57.442.68 INSTITUTIONAL SHARES DIVIDEND REINVEST 04/26/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -43.403.95 1.0000 43.403.95 INSTITUTIONAL SHARES 04/27/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 41.600 1.0000 41.60900 INSTITUTIONAL SHARES 027 05,01/0707:14 001 1009 EFTA00197067 CLEARED THROUGH ITS vmMir OwNED SUEISICHAAv OFFICE SER1n0iNG YOUR ACcOlittT 8811.518arnS Escudo% Gu8 Bear. Steams 8 Co. Inc. BOIR 383 Madison Avenue New York. New York 10179 One Murotah Cent« Hum 9roStlin. Nov Vodt 11201.3859 STffiRNS FINANCIAL TRUST COMPANY INC 7 vi STATEMENT PERIOD March 31.2007 THROUGH *1130.2007 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER AMMER On FIN MONEY FUND ACTIVITY (continued) LAST STATEMENT Match 30.2007 DATE 1.13ØY TRANSAGTMN DESGRIPTCN SYMDWINZIP mum 212CE DEBIT Amour CREDIT AMOUNT 04/30/07 CLOSINGBALANCE 17,756,525.04 TOTAL 8-14.024.042.68 $100.846.63 DIVIDENDS DATE DESORPTION SYLIEICUGUSIP ouruanv RATE (Si DENT AMOUNT EDIT AMOUNT 04/27/07 BEAR STEARNS COMPANIES INC BSC 130,000 0.3200 41,600.00 REC 04/17/07 PAY 04/27/07 TOTAL $41.600.00 MISCELLANEOUS DATE 1.13ØY TRAAISAGTMI DES7871. DENT AMOUNT CREPT ~TNT 04/02/07 JOURNAL FROM • 125,000.00 04/02/07 JOURNAL FRO/vi 300,000.00 04/02/07 JOURNAL FRO/4 040 94084 2,000,000.00 04/26/07 JOURNAL IS= INT RiRSL 9/30/05 43.403.95 TOTAL $43403.95 52.425.000.00 027 0901107737:14 001 V009 EFTA00197068 CLEARED THROUGH ITS VOICUY ODIVED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT 8081. Reams Sea"Wet Coo Bear. Steams 8 Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 CceMetrotech Conk. North 9tccIdin. Nov York 11201.3859 STEARNS FINANCtAL TRUST COMPANY INC 8 STATEMENT PERK* March 31.2007 THROUGH April 30.2007 ACCCUNT NUMBER TAXPAYER AMMER On File Your messages LAST STATEMENT March 30.2007 You are advised to promptly report any inaccuracy or discrepancy in your account to your broker and Bear, Steams Securities Corp, (BSSC') at the telephone numbers listed on the front of this statement, In order to protect your rights, including any rights under the Securities Investor Protection Act ("SIPA"), any such communications should be reconfirmed in writing to your broker and BSSC at the addresses which appear on the front of this statement, End of Statement 027 osfoirci707dif 901 v009 EFTA00197069 CLEARED THROUGH ITS vmCuy ORNED SURSICHAFiv OFFICE SEMACiNG YOUR ACcOONT Seal. Reams Sewllbf Goo. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 Cne Metaled, Conk. North Oro*kn. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC STATEMENT PERIOD March 1.2007 THROUGH Much 30.2007 ACCOUNT NUMBER IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIii TAXPAYER KAMER CR File LAST STATEMENT Pe0Tuasy 28.2007 FINANCIAL TRUST COMPANY INC C/0 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 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 Investment Professional, This reminder notice will continue to be provided to you on your quarterly statements, IbirdParty J EPSTEIN 8 CO 457 MADISON AVE 4TH FLOOR NEW YORK NY 10022 027 0331)0706:43 001 "006 EFTA00197070 CLEARED THROUGH ITS 'IMPLY ODIkED SUOSIDMilv OFFICE SERVICING YOUR ACcOliNT Seer. Steams SOOurIDOS Dap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Ono Metaled, Conic. North BroStlin. Nov York 112013859 STEARNS FINANCIAL TRUST COMPANY INC INVESTMENT PROFESSIONAL ZICHERMAN.IFtA STATEMENT PERK* March 1.2007 TELEPHONE THROUGH March 30.2007 VISIT OUR WEBSITE aww.bearstearns.com ACCOJYT NUMBER What's In This Statement Illlllllllllllllll..... llllllllllllllllllllllll TAXPAYER MASER On File LAST STATEMENT February 28.2007 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings ........................... 4 C/O AMERICAN YACHT HARBOR 6 6100 RED HOOK SUTE B-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 & Eqqvalent 15275.886 TOTAL VALUE CF SECURITIES THIS PERIOD 76,679,336 $21.645228 aET CREDIT BALANCE 11,500,000 Equities $76.679.336 $68.969.673 MONEY MARKET FUND BALANCE 3,775,886 Current market value NET EQUITY TINS PERIOD $91,955,222 MO Last statements market value kET EOUITY LAST STATEMENT 90,615,501 CHANGE SINCE LAST STATEMENT 1,339,721 There are no 'Stop Loss' orders or other pending buy or sell open orders on tile for your account. Roza roma ant Offoronoo a moromig of cocks or sKKks. eidicolod z dothorod to ,cu. lo clue' Sonic*. of 800(041428: a vat to ChM Smokes Y Boot Soon SmuMos On. Co. lArholoth Cooky Hot. Orodbri, N Y 112014159 sIK This summary is for informational purposes only. II is not intended as a lax document. This statement should be retained for our records. See reverse side for important information. 027 ocvaircarate3 001 vacs EFTA00197071 CLEARED THROUGH ITS YmCuy ORTJED SO8SICHAriv Seal. Reams SeUNI081 CUR One Mewled, Conk. North 9roStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 oi lo STATEMENT BACKER IS PRINTED ON THIS PAGE 027 031110706A3 001 V008 EFTA00197072 CLEARED THROUGH ITS YMOLLY OMNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT see'. SOW'S SOIXEIRE Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 One Motrotoch Conk. North thoStlin. New York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 3 o STATEMENT PER100 March 1.2007 THROUGH March 30.2007 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER AA/03ER On File THIS PEFICO lEIS PERIOD YEAR TO DATE LAST STATEMENT February 28.2007 Opening Balance $0.00 Dividends 92.258.05 323,381.74 Credit Balance Int. 0.00 44.54 Money Fund 18,054,458.05 Total $92,258.05 5323.426.28 Funds Deposited 11,500,000.00 Amount Credited $29,554,458.05 Securities Bought -7,962.200.00 Portfolio Composition Money Fund -92.258.05 Cash/Cash Equivalent 15.275,886 Miscellaneous -10,000,000.00 Equities 76.679,336 Amount Debited $-18.054,458.05 Total $91.955,222 Net Cash Activity 11,500,000.00 Closing Balance $11 500 000.00 Your Portfolio Allocation Cash Balance Summary OPEtI CLOSING Cash 0.00 11.500.000.00 Cask aEqinalent 17% Net Cash Balance $0.00 $11,500,000.00 EglItieS 83% UntoOorl Preen, Oonole NOE OttenCe tintlI, shod Ticket vitals TM olomma warm": is clawed from to obsolso market maw el ,ote pall000. 027 03.31/07/36:43 001 V008 EFTA00197073 CLEARED THROUGH ITS VOICUY GHTJED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT SOL Sown Seamier* CYO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Cne MAMMA CHAIN North Stcdclin. Nov York 112014859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 4 STATEMENT Amor) March 1.2007 THROUGH March 30.2007 ACCOUNT NUMBER TAXPAYER KAMER On Flk LAST STATEMENT February 28.2007 Your Portfolio Holdings CASH & CASH EQUIVALENTS MARKS DESCRPTION SvAISOLOisp 00/Wrriv PACE VALUE CASH BALANCE 11.500.000 DREYFUS CASH MANAGEMENT-CL A DICXX 3.775.886.31 1.0000 3.775.886 INSTITUTIONAL SHARES EST. 30 DAY AVG YIELD 5.1700% TOTAL CASH & CASH EQUIVALENTS $15,275,886 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 rAmbearsteams.coM or can call (800) 517.2327 to request that a copy of this research be sent to them, AOC! 1MRKET ESTMME0 ESTIMME0 DESORPTION SVAIBMJCUSIP TYPE OLIAMITY PACE VALLE ANNUAL INCOME YEW I%4 APPLE INC AAPL CASH 220,000 92.9100 20.440.200 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: S BEAR STEARNS COMPANIES INC BSC CASH 130,000 150.3500 19.545,500 166,400 0.8513 027 031100706AS 001 V008 EFTA00197074 CLEARED THROUGH ITS ymCu.Y ODNED SUBSIDIARY OFFICE SERVICING YOUR ACrOliNT SW. Reams Seuxlik4 Cue Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 One Mewled, Conte. North StoStlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 5 v, STATEMENT PERK* March 1.2007 THROUGH March 30.2007 Your Portfolio Holdings (continued) =scum NUMBER TAXPAYER NURSER On File LAST STATEMENT February 28.2007 Equities & Options (continued) ACC, IMRICE1 ESTMATED ESTRUM) DESCRPROH SYMBOUCuSIP 719E DLINERTT PACE yALLE ANNUAL INCOME YELD CIPOICEPOINT INC CPS CASH 100,000 37.4300 3.743.000 CaGATE PALMCUVE CO CL CASH 56,200 66.7900 3.753.598 80,928 2.1560 BSC RATING: STOCK 0/SECTOR MW BUCKINGHAM REAKAPCH RATING: B DEERFIELD TFIIARC CAP CORP CASH 462,691 14.9900 6.935.738 ACCREDITED INVESTORS ENVIRONMENTAL SOLUTIONS ESWW CASH 100,000 0.7670 76.700 WORLDWIOE INC LEHMAN BROTHERS HOLDINGS INC LEH CASH 100,000 70.0700 7.007.000 60,000 0.8563 BSC RATING: STOCK P/SECTOR MW BOYAR'S ALTERNATIVE VIEWPOINT RATING: B WYNN RESORTS LTD WYNN CASH 160.000 94.8600 15.177,600 BSC RATING: STOCK 0/SECTOR MW WALL STREET STRATEGIES RATING: B Total Equities& Options $76.679.336 $307.328 TOTAL EQUITIES $76.679.336 $307.328 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME 6-307.328 YOUR PRICED PORTFOLIO HOLDINGS $91.955.222 027 031110706AG 001 V008 EFTA00197075 CLEARED THROUGH ITS Mae. ORNED SUBSIDIARY OFFICE SERVICING YOUR ACrOliNT EMBI. Warns amide* COO Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 Coe Mewled, Conk. NOR Staltlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 6 c, STATEMENT PERIOD March 1.2007 THROUGH March 30.2007 Transaction Detail ACCOUNT NUMBER TAXPAYER WEIMER On File INVESTMENT ACTIVITY LAST STATEMENT February 28.2007 SETTLEMENT TRADE DATE DATE TRANSACTION CESCRPTION SYTAXIMCUSIP GUMMY PRICE DEBIT AMOUNT GRECO' AMOUNT 03/01/07 02/26/07 BOUGHT LEHMAN BROTHERS HOLDINGS INC LEH 100.000 79.56200 7,962,200.00 UNSOLICITED TOTAL $.7.962.200.00 DEPOSITS AND WITHDRAWALS DATE TRANSACTION DESCRPRON DEBIT MOW, CREDIT AMOUNT 03/30/07 FUNDS REC FNDS WIRED TO CITIBANK FROM 11,500,000.00 CS I.LC PRIME BROKER 5077089196FF01 TOTAL $11.500.000.00 MONEY FUND ACTIVITY DATE MaDAT RU0194113'4 DESCRIPTION SYMDXCUSIP CAMAREY PRICE DEBIT AMOUNT CREDIT AMOUNT 03/01/07 OPENINGBALANCE 21,645,828.26 03/01/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -7,962200 1.0000 7,962,200.00 INSTITUTIONAL SHARES 03/01/07 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICXX 92,258.05 INSTITUTIONAL SHARES MONTItY DIVIDEND 03/01/07 REINVEST DREYFUS CASH MANAGEMENT-CL A DICXX 92258.05 92.258.05 INSTITUTIONAL SHARES DIVIDEND REINVEST 03/30/07 SOLD DREYFUS CASH MANAGEMENT-CL A DIC>CL -10.000.000 1.0000 10.000.000.00 INSTITUTIONAL SHARES 027 0311/D706AR 001 V008 EFTA00197076 CLEARED THROUGH ITS ymCoy OnnED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT Deaf. Reams Sietelikia Coe. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York, Nell York 10179 One Mewled, Conte. North Oro:Win. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 7 vi STATEMENT PERK* March 1.2007 THROUGH March 30.2007 Transaction Detail (continued) AcccuNT NUMBER TAXPAYER MA93ER On Fee MONEY FUND ACTIVITY (continued) LAST STATEMENT February 28.2007 DATE 1.10.9AT TRANSACTION DESCRIPTION STIADGLCCUSIP OUAMITY NOCE man AMOUNT CREDIT AMOUNT 03/30/07 CLOSING8ALANCE 3,775,886.31 TOTAL 5-92,258.05 $18.054,458.05 MISCELLANEOUS DATE AIDDAY TPANSACTCN DESCRIPTON DEPT AMOUNT CREW AhVUNT 01+30107 JOURNAL TO 10,000,000.00 TOTAL S.10.000.000.00 027 03'31107O6A3 001 V008 EFTA00197077 CLEARED THROUGH ITS WHOLLY ODIVED SUBS101ARv OFFICE SERVICING YOUR AUCONT SRN. Reams Seewiike Gas. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue One Mewled, Conk. North 9tcc4tDn. Nov York 11201.3859 STEARNS New YY New York 10179 FINANCIAL TRUST COMPANY INC 8 STATEMENT PER100 March 1.2007 THROUGH March 30.2007 ACCCUNT NUMBER TAXPAYER M./913ER On FOE Your messages LAST STATEMENT February 28.2007 Bear, Stearns Securities Corp. Net Capital and Net Capital Requirements: SPECIAL NOTICE FOR MARGIN CUSTOMERS At November 30, 2006 and January 31, 2007, the Company's net capital of If you are a customer with a margin account, you consent to Bear Steams approximately $4.0 billion and $4.0 billion was approximately 6.8% and 6.7% right to use, lend or pledge any securities held by Bear Stearns in your margin of aggregate debit items and exceeded the minimum regulatory net capital account, In certain circumstances, such loans or other use may limit, in whole requirement of approximately $1.2 billion and $1.2 billion by approximately or in part, your ability to receive dividends directly from the issuing company $2.8 billion and $2.8 billion, all respectively. and/or your right to exercise voting and other attendant rights of ownership with respect to the loaned, sold or pledged securities. Such circumstances A complete copy of the Bear, Stearns Securities Corp. Statement of Financial include, but are not limited to, bans of securities that you own in your margin Condition is available on the web site www.bearsteams.com. Alternatively, to account that continue over record dates for voting purposes and ex-dividend request a free printed copy please call - toll free 1.866.299.9331. dates for dividend distributions. If you do not receive dividends directly from the issuing company, you may receive payments-in-lieu of dividends which could cause you to lose the benefit of the preferential tax treatment accorded to dividends. You are advised to promptly report any inaccuracy or discrepancy in your NOTICE OF CHANGE PURSUANT TO TRUTH-IN-LENDING SEC RULE 1Ob-16 account to your broker and Bear, Steams Securities Corp, (BSSC') at the telephone numbers listed on the front of this statement, In order to protect The purpose of this notice is to advise you of certain changes in the manner in your rights, including any rights under the Securities Investor Protection Act which interest will be charged on any U.S. dollar-denominated credit extended ("SIPA"), any such communications should be reconfirmed in writing to your to you by Bear, Steams Securities Corp. ("BSSC') for the purpose of broker and RS ' at the addresses which appear on the front of this purchasing, carrying or trading in any security, Interest will continue to be statement, based on either the BSSC Margin Basis Rate, or a London Interbank Offered Rate ("LIBOR') as specified in the chart below, The BSSC Margin Basis Rate will be quoted each business day by BSSC at our main office in New York, Factors affecting the determination of the BSSC Margin Basis Rate will include the short-term market interest rates quoted by money center banks and the Federal Reserve and the rate that BSSC is charged for borrowing money. 027 0311/0706AS 001 V008 EFTA00197078 CLEARED THROUGH ITS WHOLLY ODIVED SK,SIDIAAv OFFICE SERVICING YOUR ACtOIlNT 8081. Sown Seewiike Gas. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 One Metaled, Conic. North bcc4tDn. Nov York 11201.3859 STEARNS FINANCLAL TRUST COMPANY INC 9 STATEMENT maw March 1.2007 THROUGH March 30.2007 ACCCUNT NUMBER TAXPAYER WESER OR Foe LAST STATEMENT Fthrualy 28.2007 Effective no earlier than thirty (30) days from your receipt of this statement: 2. Interest may be charged to your account at varying rates during the month to reflect any changes in such interest rates that have occurred during the 1. The annual rate of interest charged to you on U.S. dollar-denominated month as well as any changes in the applicable rate caused by a change in the credit will not exceed the specified percentage over the applicable rate, as size of your debit balance. indicated in the following chart: 3. The rate of interest charged to you on any credit extended to you in a DebILStze_Range Index Spread_to_lnder currency other than U.S. dollars shall continue to be based on either (i) a LIBOR, as such rate is compiled by the British Bankers Association and Up to $499,999 Margin Basis 3.000% published on Bloomberg or Reuters, or (ii) any other rate quoted by Reuters $500,000 - $999,999 Margin Basis 2.000% that is applicable to the currency in which the obligation is denominated or, if a $1,000,000 - $2,499,999 Margin Basis 1.500% rate for such currency is not quoted by Reuters, the rate provided by Bear $2,500,000 - $4,999,999 LIBOR 3.000% Steams Securities' local bank. In either case, the annual rate of interest on $5,000,000 - $9,999,999 LIBOR 2.250% such non-U.S. dollar denominated debit will continue to not exceed 5% above $10,000,000 and above LIBOR 1.750% either a LIBOR, any rate quoted by Reuters or the rate provided by Bear Steams Securities' local bank, and will appear on your monthly statements. Debits in currencies other than U.S. dollars will not be taken into account in The actual rate charged to you at any given time will be notified to you on computing the debit size for purposes of determining the applicable interest request and the amount charged to you will appear on your monthly rate. The rate corresponding to the debit size range in which your U.S. dollar statements. denominated debit falls will apply to the entire amount of your U.S. dollar denominated debit. The actual rate charged to you at any given time will be 4. Unless otherwise agreed, the BSSC Fed Funds Rate will no longer be an notified to you on request, and the amount charged to you will appear on your available option for computing interest. monthly statements. 027 0311/0706A3 001 V008 EFTA00197079 CLEARED THROUGH ITS vmCuy ORIRED SUBSIDIARY OFFICE SERVICING YOUR ACcOlice SRN. Reams SecudRes Cup Bear. Swains 8 Co. Inc. BEAR 383 Madison Avenue Cno Marital, Cerra North BroolJrn. Nat York 11201.3859 STEARNS New York. Nell York 10179 FINANCIAL TRUST COMPANY INC 10 ci STATEMENT PERIOD Much 1.2007 THROUGH March 30.2007 ACCOUNT NUMBER TAXPAYER AMMER On File LAST STATEMENT February 28.2007 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, a 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 031110706AG 001 V008 EFTA00197080 CLEARED THROUGH ITS IMICLLY CURVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SOU. Stearn SIMMS,. Carp. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Cue Marobsch Conics North arocklin. Nat York 1120/3859 STEARNS FINANCIAL TRUST COMPANY INC INVESTMENT PROFESSIONAL ZICHERMANJRA STATEMENT PER100 February 1.2007 TELEPHONE THROUGH February 28.2007 VISIT OUR WEBSITE ivenv.bearstearns.com ACCOUNT NUMBER What's In This Statement 11111111111111II1I I lllll 111111111111111111111111 TAXPAYER M.0.13ER On He LAST STATEMENT January 31.2007 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C/O AMERICAN YACHT HARBOR Transaction Detail 6 6100 RED HOOK SUTE B-3 Fund Activity 6 OUAETERS #2 Trades Not Yet Settled 8 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equivalent — TOTAL VALUE OF SECURITIES THIS PERIOD 68,969,673 $32.111.140 MONEY MARKET FUND BALANCE 21,645.828 Equities $68.969.673 965.083.900 NET EQUITY THIS PERIOD $90,615,501 Current market value MO Last statements market value NET EQUITY LAST STATEMENT 97,195,040 CHANGE SINCE LAST STATEMENT -6,579.539 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Roza coon oaf aroma a conto0a61 or ctocks or Mocks. nelicolod ii doltrocoti le you. to Creni Son1coo ol 800611.1128: or veto to mom SoNkos al Bow. Steam &conies Ca,.. Co. lActo1och Coolly North. Brooder, N Y 112014104 St Tin SUTRWY is fat PICOM110041 purpOns erly Nis DP trended as a tar downed Qs maimed should be stand for your records Soo Arent We ap rsaure acensatan 027 0301/070517 001 SC06 EFTA00197081 CLEARED THROUGH ITS WHOLLY ORNED SUBSIDIARY Seal. Reams SesudRes Cup Cm Mewled, Conk. North 9roStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 of e STATEMENT BACKER IS PRINTED ON THIS PAGE 027 03,0110705:17 001 V0013 EFTA00197082 CLEARED THROUGH ITS WHOLLY OMED SUSSIDIAAv OFFICE SERVICING YOUR ACCOUNT SNP. sown seeryien core Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Motored, Conk. North 9toStkn. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 3 cln STATEMENT PERK* February 1.2007 THROUGH February 28.2007 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER WESER ON PIM THIS PERIOD THIS PERK* YEAR TO DATE LAST STATEMENT January 31.2007 Opening Balance $194,330.22 Dividends 189.523.69 231,123.69 Credit Balance Int. 44.54 44.54 Money Fund 10,632,044.93 Total $189,568.23 $231.168.23 Dividends/Interest 18,028.54 Amount Credited $10,650.073.47 Securities Bought -8,654.880.00 Portfolio Composition Money Fund -189.523.69 CasteCash Equivalent 21.645,828 Funds Withdrawn -2,000.000.00 Equities 68.969,673 Amount Debited $•10.844,403.69 Total $90.615,501 Net Cash Activity .194.330.22 Closing Balance $0.00 Your Portfolio Allocation Cash Balance Summary OPENING CLOSING Cash 194,330.22 0.00 Cash & Equivalent 24% Net Cash Balance $194,330.22 $0.00 Equities 76% Unteeeti Preen, denote 000! 0ttenCe tusk, shod Ticket vas. Tho patentor is crowed from tO aosolso market mak* os pxe potato. 027 03,011070517 001 V006 EFTA00197083 CLEARED THROUGH ITS OHNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT EINI. Wants Seaman* Corn Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 One Motrotoch Conk. North StccItkn. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 4 STATEMENT PERIDO February 1.2007 THROUGH Fs-crusty 28.2007 ACCOUNT NUMBER TAXPAYER MADER On He LAST STATEMENT January 31.2007 Your Portfolio Holdings CASH & CASH EQUIVALENTS MARIO ESTIMATED ESTIMAlED DESCROARON SYMEICIJCVSIP OLIAIMPI PRICE VALUE MNUPL INCOME YELD I'D DREYFUS CASH MANAGEMENT-CL A DIM 21,645,828.26 1.0000 21.645.828 1,147.229 5.3000 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 5,1700% TOTAL CASH & CASH EQUIVALENTS $21,645,828 $1.147,229 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! MARKET ESTIW.TED ESIartn720 DESCRPTION arrafarCUSIn THE OUArniTY PRICE YAM ANNUAL COME YEW I%4 APPLE INC AAPL CASH 220,000 84.6100 18.614.200 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE YEWPOINT RATING: S BEAR STEARNS COMPANIES INC BSC CASH 130,000 152.2400 19.791.200 166.400 0.8408 CHOICEPOINT INC CPS CASH 100.000 38.8800 3.888.000 027 03,01107,35:17 001 1006 EFTA00197084 CLEARED THROUGH ITS vmCuy OmED SUEISIDIAAv OFFICE SERVICING YOUR ACCOUNT Elev. Reams Seuxlikis Cup Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York Nem York 10179 One Metaled, Conk. North 9foStlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 5 vi STATEMENT PER100 February I . 2007 THROUGH February 28.2007 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER WESER 011Flk LAST STATEMENT January 31.2007 Equities & Options (continued) ACCT MARKET ESTATATE0 ESTMATED DESCRIPTION SYMBCUCUSIP TYPE OuANTay PRCE vALLE ANNUAL INCOME vELLI Ill CCIGATE PALMCUVE CO CL CASH 56.200 67.3600 3.785.632 71.936 1.9002 BSC RATING: STOCK 0/SECTOR MW BUCKINGHAM RESEARCH RATING: 8 DEERFIELD TFIIARC CAP CORP CASH 462.691 15.4000 7.125.441 ACCREDITED INVESTORS ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.8200 82,000 WORLDWIDE INC WYNN RESORTS LTD VNNN CASH 160.000 98.0200 15.683,200 BSC RATING: STOCK 0/SECTOR MW WALL STREET STRATEGES RATING: Total Equities& Options $68.969.673 $238.336 TOTAL EQUITIES $68.969.673 $238.336 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $1.385.565 YOUR PRICED PORTFOLIOHOLDINGS $90.615.501 027 03I011070517 001 V0013 EFTA00197085 CLEARED THROUGH ITS WHOU.Y ORIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SNP. Warns SOCtxl881 GOO Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York New York 10179 One MON:Loch Conk. North bccItlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 6 v., a STATEMENT PERIOD February 1.2007 THROUGH February 28.2007 Transaction Detail ACCCUNT NUMBER TAXPAYER NUMBER On FOS INVESTMENT ACTIVITY LAST STATEMENT January 31.2007 SETTLEMENT TRADE DATE DATE TRANSACI1ON DESCRIPTION SY1830UCUSIP %MARIN PRICE DEBIT AMOUNT ONEOrr MONO 02/01/07 01/29/07 BOUGHT APPLE INC AAPL 100,000 86.54880 8,654,880.00 WITH RIGHTS TO PURCHASE COMMON STK UNDER CERTAIN CIRCUMSTANCE UNSOLICITED AVG PRICE SHOWN-DETAILS ON REO WE MAKE A MKT IN THIS SECURITY UNIT PRICE 86,488800 TOTAL S.8.654.880.00 DEPOSITS AND WITHDRAWALS DATE TFONSACTIN DESCRP'Cu CfJ311 AMOUNT CREDIT AMOuNt 02/22/07 FND WIRED MDA#aF NDS WIRED TO 1,000,000.00 SE BANK Me FD 02/27/07 FND WIRED MDA ENDSWIRED TO 1.000.000.00 BAN.. FD TOTAL $-2,000,000.00 MONEY FUND ACTIVITY DATE AKDDAY TRANSACTION DESCRIPTCAI SYMECISCVSIP OUANISY PRICE OMIT AMOUNT CREDIT AMOUNT 02/01/07 OPENINGBALANCE 31.916.809.81 0201/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICK% -8.460.549.78 1.0000 8,460,549.78 INSTITUTIONAL SHARES 027 030110705:17 001 v306 EFTA00197086 CLEARED THROUGH ITS VOICU.Y OGTOED SUM:Miff OFFICE SERVICING YOUR ACCOUNT Seer. Sown Seouniba CO% Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York New York 10179 Crte Mewled, Conic. North 9tcc4701. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 7 Cl a STATEMENT PERK* February 1.2007 THROUGH February 28.2007 Transaction Detail (continued) ACCCUNIT NUMBER TAXPAYER MAGER On File MONEY FUND ACTIVITY (continued) LAST STATEMENT January 31.2007 DATE AKRDAY TRANSACTION DESCRIPTCGI SYMEAucvslo Cowry PRICE OMIT AMOUNT CREDIT AMOUNT 02/01/07 DIVIDEND DREYFUS CASH MANAGEMENT-CI. A DIM( 171,539.69 INSTITUTIONAL SHARES MONTHLY DIVIDEND 02/01/07 REINVEST DREYFUS CASH MANAGEMENT-CL A DICA 171,539.69 171.539.69 INSTITUTIONAL SHARES DIVIDEND REINVEST 02/15/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 17.984 1.0000 17,984.00 INSTITUTIONAL SHARES 02/22/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -999.955A6 1.0000 999.955.46 INSTITUTIONAL SHARES 02/27/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -1,000,000 1.0000 1,000,000.00 INSTITUTIONAL SHARES 02/28107 CLOSINGBALANCE 21,645,828.26 TOTAL $.189.523.69 $10.632.044.93 DIVIDENDS DATE DESORPTION SYMEICUNISIP WIMPY RATE (S) DENT AMOUNT CREW AMOUNT 02/15/07 COLGATE PALMOLIVE CO Cl 56,200 0.3200 17.984.00 REC 01/26/07 PAY 01 2/15/07 TOTAL $17,984.00 027 03,01/0705:17 001 9006 EFTA00197087 CLEARED THROUGH ITS /MOLLY BINNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Seer. sown semen coo Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 One Motroboch Conk. North Braltlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 8 STATEMENT PERIOD February 1.2007 THROUGH Primary 28.2007 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER ROUSER OR File INTEREST LAST STATEMENT January 31.2007 DATE DESORPTION SYMBITIAUSIP CUNIITI1Y RATE MI DEBIT AMOUNT CREDIT AMOUNT 02/21/07 INTEREST ON CREDIT BALANC 44.54 V C OT4.11.11/21 - 02/20 TOTAL $44.54 Trades Executed Pending Settlement SETILEMEHT TRADE DATE GATE TRANSACTION BESCRPTION STM8OLCUSIP OUANTITY PACE DENT AMOUNT CREPT MOUNT 03/01/07 02/26/07 BOUGHT LEHMAN BROTHERS HOLDINGS INC LEH 100,000.00 79.5620 7,962,200.00 UNSOLICITED TOTAL $7,962,200.00 $0.00 The °bow Foote do AMA's:es: m eHr Ong salon Pl Iho stalemtet End of Statement 027 03,0110705:17 001 1.0313 EFTA00197088 CLEARED TRACUGH ITS YillOU.Y O'Neal SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beer. SOMAS SBOudlief COrp Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York Nee York 10179 Ono Llottotech Cron HORN Becodin. Now Yuk 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC INVESTMENT PROFESSIONAL ZICHERMAN.IRA STATEMENT PERK* December 30.2006 TELEPHONE THROUGH January 31.2007 VISIT OUR WEBSITE ,WAY.bearstearns.com ACCOUNT NUMBER What's In This Statement 11111111111111111111111111111111111111111111111 TAXPAYER NUMBER On File LAST STATEMENT December 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 6 OUAETERS #2 Trades Not Yet Settled 8 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Eclat/Went $32.111.140 TOTAL VALUE OF SECURITIES THIS PERIOD 65.083.900 526.289.268 NET CREDIT BALANCE 194.330 Equities $65.083.900 461.865.047 MONEY MARKET FUND BALANCE 31.916.810 Current market value NET EQUITY THIS PERIOD $97.195.040 MO Last statement's market value NET EOUITY LAST STATEMENT 88.154.315 CHANGE SINCE LAST STATEMENT 9,040.725 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Tin PawarYNkt elkdedeesel pyposes cereals ra "'eroded as a tat &wiled Pla.mo mood ant diToronoo a nantoceig of Ads or stocks. eicucatod as daltrorod 10 pw. 10 Owl Simon at 8C0134-1428: a veto to Clam SONIC.. M Boat. Steam &comes Cap.. One lAcOnikKli Coolly Nam. BrooMyn H.V. II201-3859 ST statement shotad be retained for your records See Inc. safe for modest IIVOCMOIin 027 02)01,07.06:16 OD1 \'004 EFTA00197089 CLEARED THROUGH ITS YmCuy ORIVED SUOSICHAriv Seal. Reams Se044041 C440 One Mewled, Conk. North 9roStlin. Nov York 11201.3859 FINANCIAL TRUST COMPANY INC 2 ol e STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0210110708:18 001 V004 EFTA00197090 CLEARED THROUGH ITS VOICUY OMED SUSSIDIAAv OFFICE SERVICING YOUR ACCOUNT Sew. warns seamiest Cat. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York Nee York 10179 One Motored, Conk. North bcdtlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 3 STATEMENT PER100 December 30.2006 'roamer January 31.2007 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER WESER On File THIS PERIOD pERno YEAR TO DATE LAST STATEMENT December 29.2006 Opening Balance Dividends 41.600.00 41,600.00 $0.00 Money Fund 10,160,941.35 Total $41.600.00 $41,600.00 Funds Deposited 15,000,000.00 Dividends/Interest 235.930.22 Miscellaneous 425.000.00 Portfolio Composition Amount Credited $25.821,871.57 Cashleash Equivalent 32.111,140 Equities 65.083,900 Money Fund -15,627,541.35 Miscellaneous -10,000,000.00 Total $97,195,040 Amount Debited $-25 627 541.35 Net Cash Activity 194,330.22 Closing Balance $194,330.22 Your Portfolio Allocation Cash Balance Summary Cash Net Cash Balance OPEn r.G 0.00 $0.00 OLOSINO 194,330.22 $194,330.22 cia Cash & Equivelen 34% Equities 66% Unteeeti Preen, denote 000* o*f0noo wick, shod Ticket vitals. Ma alocama warm": es clawed from to attsola marlin mak* os pxe parboo. 027 02)011070616 001 V004 EFTA00197091 CLEARED THROUGH ITS IMICUY OMMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SW. Reams Seamiest Core Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York New York 10179 One Motrobsch Conk. North 9to*I01. Nov York 11201.3859 STEARNS FINANCLAL TRUST COMPANY INC 4 o STATEMENT PERIOD December 30.2006 THROUGH January 31.2007 ACCOUNT NUMBER TAXPAYER MASER On Fee LAST STATEMENT December 29.2006 Your Portfolio Holdings CASH & CASH EQUIVALENTS WW1 ESTIMATED ESTIMATED DESCREDON SYMEICIJCUSIP CIUMMTY PRICE VALUE ANIMAL NOME VELD CASH BALANCE 194.330 DREYFUS CASH MANAGEMENT-CL A DIC)C( 31,916,809.81 1.0000 31.916.810 1.691.591 5.3000 INSTITUTIONAL SHARES EST, 30 DAY AVG VELD 5,1600% TOTAL CASH 8 CASH EQUIVALENTS $32.111.140 $1.691.591 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 wvAv.bearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. ACCT MOM ESTIMATED ESTIMATED DESCRPSON SYMECECUSIP TYPE OUANSTT PRCE VALUE ANMIN. INCOME YELD APPLE INC AAPL CASH 120,000 85.7300 10.287.600 BSC RATING: STOCK CVSECTOR MW BOYARS ALTERNATIVE %%WONT RATING: S BEAR STEARNS COMPANIES INC 8SC CASH 130.000 164.8500 21.430.500 166.400 0.7765 027 02/01/0706:18 001 V004 EFTA00197092 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8.9. SOWN SANAS* GOO Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York Nen York 10179 One Matrotech Conley North 9,0:89n. Nat York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 5 v, STATEMENT venom December 30.2006 THROUGH January 31.2007 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER NAWER On File LAST STATEMENT December 29.2006 Equities & Options (continued) ,WCT MARKET ESTIMATED ESTIMATED DESCRPDON SYSIBCL.CUSiP °LWOW PROF VALE ANNUAL PNCOME YIELD 1%) CHOICEPOINT INC CPS CASH 100,000 38.4900 3.849.000 COLGATE PALMOLIVE CO CL CASH 56.200 68.3000 3.838.460 71.936 1.8741 BSC RATING: STOCK 0/SECTOR MW BUCKLIGFIAM RESEARCH RATING: B DEERFIELD TRIARC CAP CORP CASH 462.691 16.7000 7.726.940 ACCREDITED INVESTORS ENVIRONMENTAL SOLUTIONS ESWW CASH 100.000 0.7300 73.000 WORLDWIDE INC WYNN RESORTS LTD WYNN CASH 160.000 111.7400 17.878,400 BSC RATING: STOCK 0/SECTOR MW WALL STREET STRATEGES RATING: B Total Equities& Options $65.083.900 $23&336 TOTAL EQUITIES $65.083.900 $23&336 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $1.929.927 YOUR PRICED PORTFOLIO HOLDINGS $97.195.040 027 02/01/0706:18 001 V004 EFTA00197093 CLEARED THROUGH ITS IMICUY OHIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SNP. Smann SONNI081 GO/0 Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York Nee York 10179 One Metrotech Conk. North 9taltlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 6 c, STATEMENT PERIOD December 30.2006 THROUGH January 31.2007 Transaction Detail ACCOUNT NUMBER TAXPAYER AILWHER On File DEPOSITS AND WITHDRAWALS LAST STATEMENT December 29.2006 DATE TRANSACT/ON DESCRP'ION CEBIT AMOLAr CREDIT AMOUNT 01/04/07 FUNDS REC ENDS WIRED TO CITIBANK FROM 15,000,000.00 BANK TOTAL $15.000.000.00 MONEY FUND ACTIVITY DATE MCVDAT TRVISACTIC01 DESCRIPTION SYM8OL,GVSIP OUANTRY PR E DEBIT AMOUNT CREDIT AMOUNT 12/30/06 OPENINGBALANCE 26,289,268.46 01/02/07 REINVEST DREYFUS CASH MANAGEMENT-CL A DICA 160.941.35 160,941.35 INSTITUTIONAL SHARES DIVIDEND REINVEST 01/02/07 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICA 160.941.35 INSTITUTIONAL SHARES AMT INCLUDED IN 2006 - 1099 01/05/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 15.000.000 1.0000 15.000.000.00 INSTITUTIONAL SHARES 01/10/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 425.000 1.0000 425.000.00 INSTITUTIONAL SHARES 01/26/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 41.600 1.0000 41.600.00 INSTITUTIONAL SHARES 01/30/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -10.000.000 1.0000 10,000,000.00 INSTITUTIONAL SHARES 01/31/07 CLOSINGBALANCE 31,916,809.81 TOTAL $-15.627,541.35 $10.160.941.35 027 02/01/0706:18 001 1004 EFTA00197094 CLEARED THROUGH ITS VOICUY OMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8081. Sown UNARM CYO. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New YY New York 10179 One Metaled, Conk. North 9toNtlin. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 7 STATEMENT PERK* December 30.2006 THROUGH January 31.2007 Transaction Detail (continued) ACCCUNT NUMBER TAXPAYER AVSSER On FIk DIVIDENDS LAST STATEMENT December 29.2006 DICE DESCRPTION SYMOCCCUSIP DUMMY RATE all DEBIT AMOUNT CREDII AMOUNT 01/26/07 BEAR STEARNS COMPANIES INC BSC 130,000 0.3200 41,600.00 REC 01/16/07 PAY 01126107 01/30/07 DEERFIELD TRIARC CAP CORP 194.330.22 ACCREDITED INVESTORS CASH DIV ON 462691 SHS REC 12/29/06 PAY 01/30107 AMOUNT ICLUDED ON 2006-1099 TOTAL $235.93022 MISCELLANEOUS DATE LOAMY TRMISACTCN USG:OWN DENT AMOUNT CREW MOUNT 01/10/07 JOURNAL FROM 125,000.00 01/10/07 JOURNAL FROM NM 300,000.00 01/30/07 JOURNAL TO 10.000.000.00 TOTAL $-10.000,000.00 $425,000.00 027 02)01/070616 001 V004 EFTA00197095 CLEARED THROUGH ITS VOICUY OMIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SABI. Warns Secede* Cat. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Conic. North bcc4t101. Nov York 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 8 c, STATEMENT PER100 December 30.2006 THROUGH January 31.2037 ACCOUNT NUMBER Trades Executed Pending Settlement TAXPAYER IsANHER On File LAST STATEMENT December 29,2006 SETTLEMENT TRADE DATE DATE "RANSACTKON DESCSPTION STMEPOLCUSIP (WNW PRICE DEBIT AMOUNT GPI= AAIDUNr 02,01/07 01/29/07 BOUGHT APPLE INC AAPL 100.000.00 86.5488 8.654.880.00 WITH RIGHTS TO PURCHASE COMMON SRC UNDER CERTAIN CIRCUMSTANCE UNSOLICITED AVG PRICE SHOWN-DETAILS ON REQ WE MAKE A MKT IN THIS SECURITY UNIT PRICE 86.488800 TOTAL $8.654.880.00 $0.00 The abo,e noes 03 nol appeal in any 011E socuon 01 1110 slalom/0c End of Statement 027 02)01/0706:18 001 V004 EFTA00197096