EFTA00201075

Statements EFTA00201075 CLEARED THROUGH ITS WHCCLY OWNED SUBSIDIARY OFFICE SEM/lei/43 YOUR ACCOUNT Seer. Reams Sectinnes Can. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Cno Motrotoch Conk. North bcdttin. New York 11201.3859 STEARNS JEFFREY EPSTEIN INVESTMENT PROFESSIONAL ZICHEFUAAN.IFLA STATEMENT PERIOD June 30.2007 TELEPHONE THROUGH Job 31.2007 VISIT OUR WEBSITE ivmv.bearstearns.com ACCOUNT NUMBER What's In This Statement Illlllllllllllllllllllllllll1llllllllllllllllllllllllllllllll1 TAXPAYER MASER On File LAST STATEMENT June 29.2007 Financial Summary 3 JEFFREY EPSTEIN Your Portfolio Holdings ........................... 4 CIO FINANCIAL TRUST COMPANY 6 ATTN JEANNE BRENAN Fund ActiviTY .......................................... 6 6100 RED HOOK (WATER B-3 Your Messages ...................................... 7 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equwalent 550 176.147o 6 TOTAL VALUE CF SECURITIES THIS PERIOD 4,223,821 MONEY MARKET FUND BALANCE 516,440 Equities 50.223.821 50.376261 NET EQUITY THIS PERIOD $4,740,261 Current market value Last statements market value NET ECLAT? LAST STATEMENT 4,883,437 CHANGE SINCE LAST STATEMENT -143.176 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Roza row ant Ottawa, a rooroaig ol twits or stocks, macaw! m clotkoroo to ,Bu. 10 CI of Salon at 804614.1428: a Nu to Clom SONIC.. a Boa. Smarm &comas Cap.. Co. 1.1flok•-li Calla North. 8rodlyn, NY 112014559 sIK This summary is 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 oavirci707i9 001 V015 EFTA00201076 CLEARED THROUGH ITS YRIOLLY ORIVED SU9510MRY SW. Sleben SMARR. CYO. One Metaled, Conk. North 9roStlin. Nov York 11201.3859 JEFFREY EPSTEIN 2 or 7 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0E0011070719 001 W15 EFTA00201077 CLEARED THROUGH ITS INHCU.Y OMED SUOSIDIATiv OFFCE SERVICING YOUR ACCOUNT Beef. Steams Securing. Corp Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 0"' Mewled, Conic. North bcdtlin. New York 11201.3859 STEARNS JEFFREY EPSTEIN 3 r/ STATEMENT PEF000 June 30.2007 THROUGH AO 31.2007 AccouNT NUMBER Cash Flow Analysis Income Summary TARPAYEA NUMBER On File 1143 PERIOD YEAR TO DATE THIS PERIOD LAST STATEMENT June 29.2007 Opening Balance $0.00 Dividends 9.264.16 93.029.39 Total 59 264.16 $93.029.39 Money Fund 2.117.28 Dividends/Interest 7.146.88 Amount Credited $9.264.16 Portfolio Composition Money Fund -9.264.16 CashCash Equivalent 516.440 Amount Debited $-9,264.16 Equities 4.223.821 Closing Balance $0.00 Total $4,740,261 Your Portfolio Allocation Cash8Equivalent , 10% \Equities 90% Undadocl porno's demo* Oat balance smite shod martac varLos. IT aTocaller, patentor es cloWed Wm to ablaze market Moo or yote 027 OW01)0707:19 001 V015 EFTA00201078 CLEARED THROUGH ITS vmCuy ORTAED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT Seal. WARN SANAA* Goo. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 One Marital, Cala North baltlin. Nat York 11201.3859 STEARNS JEFFREY EPSTEIN 4 vi STATEMENT PERIOD June 30.2007 THROUGH Juk 31.2007 ACCOUNT NUMBER TAXPAYER KAMER Cfl File LAST STATEMENT June 29.2007 Your Portfolio Holdings CASH & CASH EQUIVALENTS MA;NE DESCRPROH SAIBO1.OJSIP NICE 1N.UE DREYFUS CASH MANAGEMENT-CL A DIOCT 516.440.44 1.0000 516.440 INSTITUTIONAL SHARES EST. 30 DAY AVG YIELD 5.2100% TOTAL CASH & CASH EQUIVALENTS $516.440 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 rawasarsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. ACCT IMAKE1 &mono ESRMATED DESCRPRON MEMO/SIP TYPE OVATOTTY PRICE VALVE ANNUAL INCOME YEW 1%4 FELCOR LODGING TRUST INC FCH CASH 2.000 21.9600 43.920 2,400 5.4645 GLIMCHER REALTY TRUST-Sal GRT CASH 2,000 21.2600 42.520 3,846 9.0452 HRPT PROPERTIES TR-Sal HRP CASH 10,000 9.3500 93.500 8,400 8.9840 HOSPITALITY PROPERTIES TRUST HPT CASH 2,000 38.3600 76.720 6.080 7.9249 SBI 027 06,01107,37:19 001 VOIS EFTA00201079 CLEARED THROUGH ITS vmCuy ONNED SUBSIDIARY OFFICE SERVICING YOUR AC/OONT SW. Stearn SeewIlke Cop Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue One Marital, Cala North baltlin. Nat York 11201.3859 STEARNS New VOrk Nell York 10179 JEFFREY EPSTEIN 5 STATEMENT PERIOD June 30. 2007 THROUGH Juk 3T.2007 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER KAYSER On File LAST STATEMENT June 29.2007 Equities & Options (continued) ACCT MARKET ESTMATED ESTIMATED DESCRIPTION SIMBOUCuSIP Wt OUAMITY PACE VALUE ANNUAL NCO1AE VELD I%) JOHNSON& JOHNSON JNJ CASH 57,800 60.5000 3.496.900 95,948 2.7438 BSC RATITO: STOCK P/SECTOR MW KED DAVIS RESEARCH RATING: IMAGO REALTY CORP KIM CASH 98 37.3300 3.658 157 4.2920 BSC RATING: STOCK 0/SECTOR MW GREEN STREET ADVISORS. INC. RATING: H MS LUCENT TECHNOLOGIES INC LUTHW CASH 235 0.0700 16 DIP 12/10/2007 NAYARIT GOLD INC NYRTF CASH 19 0.7990 15 PENNSYLVANIA REAL ESTATE PEI CASH 1.794 38.9400 69.858 4.090 5.8547 INVESTMENT TRUST-S& RAMCO GERSHENSON PROPERTIES RPT CASH 12.000 32.2000 386.400 22.200 5.7453 TRUSTMO gal SIRIUS SATELLITE RADIO INC SIRI CASH 1.000 3.0100 3,010 BSC RATMO: STOCK 0/SECTOR MW ATLANTIS RESEARCH RAMO: B TRAVELCENTERS OF AMERICA LLC TA CASH 200 36.5200 7.304 Total Equities& Options $4.223.821 $143.121 TOTAL EQUITIES $4.223.821 $143.121 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $143.121 YOUR PRICED PORTFOLIOHOLDINGS $4,740,261 027 00,011070719 001 W15 EFTA00201080 CLEARED THROUGH ITS MOLY ORIVED SUBSIDIARY OFFICE SERVICING YOUR AC/OliNT SW. warns SMARR. GOO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 One MARANO Center North Staltlin. Nov York 11201.3859 STEARNS JEFFREY EPSTEIN STATEMENT PERIOD June 30.2007 THROUGH Ju, 31.2007 Transaction Detail ACCOUNT NUMBER TAXPAYER NURSER OD FAA MONEY FUND ACTIVITY LAST STATEMENT June 29.2007 DATE MOAT TRANSICTICN DESCRIPTCN SYMECUCVSIP DUMMY PRCE DEBIT AMOUNT CREDIT AMOUNT 06/30/07 OPENINGBALANCE 507,176.28 07/02/07 AMAMI DREYFUS CASH MANAGEMENT-CL A DICXX 5,550 1.0000 5,550.00 INSTERITICNAL SHARES 07/02/07 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICXX 2.117.28 INSTITUTIONAL SHARES MONTItY DIVIDEND 07/02/07 REINVEST DREYFUS CASH MANAGEMENT-CL A DICXX 2,117.28 2,117.28 INSTTruTiONAL SHARES DIVIDEND REINVEST 07/18/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 996.88 1.0000 996.88 INSITHITCNAL SHARES 07/31/07 BOUGHT DREYFUS CASH MANAGEMENT-CA. A DICK% 600 1.0000 600.00 INSTITUTIONAL SHARES 07/31/07 CLOSINGTIMANCE 516,440.44 TOTAL $9,264.16 $2.117.28 DIVIDENDS DATE DESCRIPTION STMEICIAUSIP DUMMY RAE DEBIT AMOUNT CREDIT AMOUNT 07/02/07 RAMCO GERSHENSON PROPERTIES RPT 12.000 0.4625 5,550.00 TRUSTMO SIN REC 06/2W07 PAY 07/02/07 07/16/07 GLIMCHER REALTY TRUST-S8I GAT 2.000 0.4808 961.60 REC 06/29/07 PAY 07/16/07 07/16/07 KIMCO REALTY CORP KIM 98 0.3600 35.28 REC 07/05/07 PAY 07/16/07 027 OW01/0707:19 001 V015 EFTA00201081 CLEARED THROUGH ITS vmCuy ORNED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT Beef. Reams SecudOes Goo Bear. Steams 8 Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 One Metaled, Conic. North 9roStlin. Nov York 11201.3859 STEARNS JEFFREY EPSTEIN 7 vi STATEMENT PERIOD June 30.2007 THROUGH Juk 31.2007 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER KAMER Ofl File DIVIDENDS (continued) LAST STATEMENT June 29.2007 DATE DESCRPTION SYMBOUCVSIR CUMIN" Re.TE fo DEBIT AMOUNT CREDIT AMOUNT 07/31/07 FELCOR LODGING TRUST INC FCH 2.000 0.3000 600.00 REC 07/13/07 PAY 07/31/07 TOTAL $7.146.88 Your messages You are advised to promptly report any inaccuracy or discrepancy in your account to your broker and Bear, Steams Securities Corp, cBSSC1 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 0501/0707:19 001 1015 EFTA00201082 CLEARED THROUGH ITS vmCo.v GimgED SUBS:M.0w OFFICE SERVICING YOUR ACcOlINT Seal. Reams Secudik4 Goo Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New Ask Nell York 10179 One Metaled, Conk. North Sto*kn. Nov York 112014859 STEARNS JEFFREY EPSTEIN STATEMENT PERIOD June 1.2007 THROUGH June 29.2007 =scow NUMBER 038-28825 IIIIIIIIIIIIIIIIII lllll IIIIIIIIIIIIIIIIIIIIIIIIIIIII I111111111 TAXPAYER KINSER Cfl File LAST sTATELIENT May 31.2007 JEFFREY EPSTEIN C/0 FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK (WATER 8-3 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, ThiaLeatty EPSTEIN INTERESTS A/C JEFFREY EPSTEIN ATTN HARRY BELLER 457 MADISON AVE 4TH FLR NEW YORK NY 10022 027 06'300707A3 001 V011 EFTA00201083 CLEARED THROUGH ITS WHOLLY ORAED SUBSIDIARY OFFICE SERVICING YOUR ACtOAlNT Bear. Steams securion Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue Cne Metaled, Conic. North arcdtlin. Nov York 11201.3859 STEARNS New York. Nell York 10179 JEFFREY EPSTEIN DIVESTMENT PROFESSIONAL ZICHEFUAAN.IRA STATEMENT PERIOD June 1.2007 TELEPHONE THROUGH June 29.2007 NM OUR WEBSITE iymv.bearstearns.com ACCOUNT NUMBER What's In This Statement IIIIIIIIIIIIIIIIII ..... IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII TAXPAYER re/mBER On File LAST STATEMENT May 31.2007 Financial Summary 3 JEFFREY EPSTEIN Your Portfolio Holdings ........................... 4 CIO FINANCIAL TRUST COMPANY 6 ATTN JEANNE BRENAN Fund ActMEY ..... 6 6100 RED HOOK (WATER B-3 Your Messages ...................................... 8 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash fibs...went a 5507.176 TOTAL VALUE OF SECURITIES THIS PERIOD 4376261 $480.071 MONEY MARKET FUND BALANCE 507,176 Equities .376.261 $4.513.028 NET EQUITY This PERIOD $4,883,437 Current market value MO Last statements market value NET ECUITY LAST STATEMENT 4,993,099 CHANGE SINCE LAST STATEMENT -109.662 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Fuze food oaf clIbronoo a nonrocag ol tss or Maks, oldicolod z clakorod lo p5u. lo duel Son1coo el 800611.1428: a ,o,t 10 ChM Sank.. a Bow. SMarra SecuMos Ca,.. One 1.10o1m1, Cala Rath. Srodbri, NY. II2014160 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 06,300707M 001 VOII EFTA00201084 CLEARED THROUGH ITS Ym0uY ORIVED SLISSICHAAv Seal. SleanIS SMARR. Cv0. One Mewled, Conk. North 9roStlin. Nov York 11201.3859 JEFFREY EPSTEIN 2 of e STATEMENT BACKER IS PRINTED ON THIS PAGE 027 06.300707:43 001 V011 EFTA00201085 CLEARED THROUGH ITS VOICU.Y OW CO SUERIDIAFiv OFFICE SERPON3 YOUR ACCOUNT 13.0. 5111015 SIMON GOO Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 One Matrotech Ceuta. Horn Eltanten. New Ye* 11201.3559 STEARNS JEFFREY EPSTEIN 3 ri STATEMENT PER100 June 1.2007 THROUGH June 29.2007 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER NUO3ER On File THIS PEFICO THIS PERIDD YEM TO DATE LAST STATEMENT May 31.2007 Opening Balance $0.00 Dividends 27.105.38 83,765.23 Money Fund 2.095.80 Total $27.105.38 $83.765.23 Dividends/Interest 25,009.58 Miscellaneous 7,400,000.00 Amount Credited $7,427,105.38 Portfolio Composition CashICash Equivalent 507,176 Money Fund -27.105.38 Equities 4,376,261 Funds Withdrawn -7,400.000.00 Total $4,883,437 Amount Debited $-7.427,105.38 Closing Balance $0.00 Your Portfolio Allocation Cash&Equivalent 10% \ERLatIeS 90% Untended Porno's denote OHM balance antler short mama yews TM alumnn warmer is awned Run to nersolse Amen Ma* in 'Re pcalolo. 027 060300707:43 001 U011 EFTA00201086 CLEARED THROUGH ITS vmCo.T OTTAED SUMP:H.0w OFFICE SERVICING YOUR ACcOliNT Seal. WATS Slade* Cop Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New YOrk. NEW York 10179 One Metaled, Conk. North boStlin. Nov York 11201.3859 STEARNS JEFFREY EPSTEIN 4 th/ STATEMENT PERIOD June 1.2007 THROUGH June 29.2007 ACCOUNT NUMBER TAXPAYER At/USER Cfl File LAST STATEMENT May 31.2007 Your Portfolio Holdings CASH & CASH EQUIVALENTS MARKET DESCRPROH SYMBOSCUSIP OUANTITY PRICE VALUE DREYFUS CASH MANAGEMENT-CL A DIOCT 507,176.28 1.0000 507,176 INSTITUTIONAL SHARES EST. 30 DAY AVG YIELD 5.2200% TOTAL CASH & CASH EQUIVALENTS $507,176 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 iwatbearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. ACCT IMAKEI ESTRIATED ESITIATED DESCRIPTOR STAIEWCUSIP TYPE OVATOTTY PRICE VALVE ANNUAL INCOME YEW PE FELCOR LODGING TRUST INC FCH CASH 2.000 26.0300 52.060 2,400 4.6101 GLIMCHER REALTY TRUST-SBI GRT CASH 2,000 25.0000 50.000 3,846 7.6920 HRPT PROPERTIES TR-SBI HRP CASH 10,000 10.4000 104.000 8,400 8.0769 HOSPITAUTY PROPERTIES TRUST HPT CASH 2,000 41.4900 82.980 6.080 7.3271 SBI 027 0S'3ON7A7:43 001 V011 EFTA00201087 CLEARED THROUGH ITS YRICU.Y 0918ED SUSSIDIAFiv OFFICE SERVICING YOUR AC/OONT 8.9. WOMB 51004801 COIp. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, NON York 10179 One Motrotoch Conley North 9tooldrn. Nov York 11201.3859 STEARNS JEFFREY EPSTEIN 5 vi STATEMENT PERIOD June 1.2007 THROUGH June 29.2007 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER MALISER On File LAST STATEMENT May 31.2007 Equities & Options (continued) (OCT MARKET ESTATATD) ESTIMATED DESCRIPTION SYMBarCUSIP IYPE OUAMITY PACE VALLE ANNUAL INCOME YEW IV JOHNSON& JOHNSON JNJ CASH 57,800 61.6200 3.561.636 95,948 2.6939 BSC RAMO: STOCK P/SECTOR MW KED DAVIS RESEARCH RATI/43: B KIMCO REALTY CORP KIM CASH 98 38.0700 3.731 141 3.7791 BSC RAMO STOCK 0/SECTOR MU GREEN STREET ADVISORS. INC. RATING: S MS LUCENT TECHNOLOGIES INC LUTHW CASH 235 0.1700 40 DIP 12/10/2007 NAYARIT GOLD INC NYRTF CASH 19 0.8200 16 PENNSYLVANIA REAL ESTATE PEI CASH 1.794 44.3300 79,528 4.090 5.1428 INVESTMENT 11RUST&IN RAMCO GEFISHENSON PROPERTIES APT CASH 12,000 35.9300 431.160 22.200 5.1489 TRUSTMO 581 SIRIUS SATELLITE RADIO INC SIRI CASH 1,000 3.0200 3.020 BSC RAMO: STOCK 0/SECTOR MW ATLANTIS RESEARCH RADNO: B TRAVELCENTERS OF AMERICA LLC TA CASH 200 40.4500 8.090 Total Equities& Options $4.376,261 $143.105 TOTAL EQUITIES $4,376,261 $143.105 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME 8143.105 YOUR PRICED PORTFOLIOHOLDINGS $4,883,437 027 0630(070783 001 V011 EFTA00201088 CLEARED THROUGH ITS WUCuy OmED SUBSIDIARY CONDE SERVICING YOUR ACIOriNT Beef. Warn SMARR. GOO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 One Metaled, Conic. North 9roStlin. Nov York 11201.3859 STEARNS JEFFREY EPSTEIN 6 vi STATEMENT PERIOD June 1.2007 THROUGH June 29.2007 Transaction Detail ACCOUNT NUMBER TAXPAYER MAWR Ofl File DEPOSITS AND WITHDRAWALS LAST STATEMENT May 31.2007 DATE ITTARSACTON DESCRVICH DEBIT ANOINT CREDIT MAXIM 06/15/07 END WIRED MD ENDSWIRED TO 7,400,000.00 A Bibb TOTAL $-7.400.000.00 MONEY FUND ACTIVITY DATE 1.130Ar TRINSACTIC0/ DESCRIPTOR SYMEOUCCSIP QUANTA), PRICE DEBIT AMOUNT CREDIT AMOUNT 06/01/07 OPENINGBALANCE 480.070.90 06/01/07 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICXX 2.095.80 INSTITUTIONAL SHARES MCNTRLY DIVIDEND 06101/07 REINVEST DREYFUS CASH MANAGEMENT-CL A DICK( 269680 2.095.80 INSTITUTIONAL SNARES DIVIDEND REINVEST 06112/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DIC)d< 23,987 1.0000 23,987.00 INSTITUTIONAL SHARES 06/15/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 1,022.58 1.0000 1,022.58 INSTITUTIONAL SHARES 06/29/07 CLOSINGBALANCE 507.176.28 TOTAL $.27.105.38 $2.095.80 027 06300707:43 001 11011 EFTA00201089 CLEARED THROUGH ITS YmCuy OuIVED SUSSICHARv OFFICE SERV1CiN3 YOUR ACcOliNT Seal. Wane SAMOA. GYP. Bear. Swains 8 Co. Inc. BEAR 383 Madison Avenue New YOrk. Nell York 10179 One Metaled, Conic. North 9roStlin. Nov York 11201.3859 STEARNS JEFFREY EPSTEIN 7 v. v STATEMENT PERIOD June 1.2007 THROUGH June 29.2007 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER KAMER Ofl File DIVIDENDS LAST STATEMENT May 31.2007 DATE DESCRKION PMEOICUSIP owing RATE IS) CEO! AMOUNT CREW AMOUNT 06/12/07 JOHNSON& JOHNSON JNJ 57,800 0.4150 23,987.00 REG 06/29/07 PAY 06/12107 06/15/07 PENNSYLVANIA REAL ESTATE PEI 1,794 0.5700 1,022.58 INVESTMENT TRUST-SBI REC 06/01/07 PAY 06/15/07 TOTAL 525.009.58 MISCELLANEOUS DATE 1.10DAT PANSACTte: DESCRIPTOR Data MOW CPECIT NACCA1 06/15/07 JOURNAL FROM 7.400.000.00 TOTAL 37.400.000.00 027 060300707AG 001 V011 EFTA00201090 CLEARED THROUGH ITS IMICUY ODIVED SLIESIDIAAv OFFICE SERVICING YOUR ACcOliNT SW. warns sennywn CYO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New Yo.t. New York 10179 One Metaled, Conk. North StaltDn. Nov York 112014559 STEARNS JEFFREY EPSTEIN 8 STATEMENT PERIOD June 1.2007 THROUGH June 29.2007 ACCOUNT NUMBER TAXPAYER MNSER Ofl 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 06030(0707:43 001 U011 EFTA00201091 CLEARED THROUGH ITS WHOLLY DOMED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT 13Nr. sown SIMON, Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New Auk Nell York 10179 Clry Matratech Conley North Eitaltan. Nov York 112014859 STEARNS JEFFREY EPSTEIN INVESTMENT PROFESSIONAL ZICHEFtMAN.IFtA STATEMENT PERK* May 1.2007 TELEPHONE THROUGH May 31.2007 VISIT OUR WEBSITE evetbearstearns.com ACCOUNT NUMBER What's In This Statement IIIIIIIIIIIIIIIIII ..... IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII TAXPAYER NULI3ER On File LAST STATEMENT April 30.2007 Financial Summary 3 JEFFREY EPSTEIN Your Portfolio Holdings ........................... 4 CIO FINANCIAL TRUST COMPANY 6 ATTN JEANNE BRENAN Fund ActMtY .......................................... 6 6100 RED HOOK (WATER B-3 Your Messages ...................................... 7 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equvalent —IIIII $480.07 TOTAL VALUE OF SECURITIES THIS PERIOD 4.513.028 $474.448 MONEY MARKET FUND BALANCE 480,071 Equities H S4.513.028 94.574.378 NET EQUITY THIS PERIOD $4,993,099 Current market value Ili Last statements market value he ECLAT? LAST STATEMENT 5,048,826 CHANGE SINCE LAST STATEMENT -55,727 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Plaza room any Offeconce a neoroctiot of teaks or sKKks. calcalect z &Orme to ,cu. lo Gent Shim. al 800614.1428: a vat to Clad Services a Sow. Sean SccuMes Cap. One lanolecli Coma Noth.l3HHOHH, NY 112014050 sIK This summaryis 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 06.01/0705A4 001 VOID EFTA00201092 CLEARED THROUGH ITS WHOLLY OMIED SUBSIDIARY Bat. BOOMS SeOudlin Cat. Ono Llevotech Center Noah 8recIdgn. New York 11201.0859 JEFFREY EPSTEIN 2 of STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0601/070541 001 ,A)10 EFTA00201093 CLEARED THROUGH ITS 19/11CLLY OVMED SU8SIDIAAv OFFCE SERVICING YOUR ACCCUNT 5581. Sown Seournes Core Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 One Metrotech Center North &calm. New Ye* 112013559 STEARNS JEFFREY EPSTEIN 3 c/ STATEMENT PERKO May 1.2007 THROUGH May 31.2007 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER NUMBER OR File THIS PEFICO THIS PERK* YEAR TO DATE LAST STATEMENT WI 30.2007 Opening Balance $0.00 Dividends 5.623.30 56,659.85 Money Fund 2.003.30 Total $5.623.30 $56.659.85 Funds Deposited 2,500,000.00 Dividends/Interest 3.620.00 Amount Credited $2,505,623.30 Portfolio Composition Cash/Cash Equivalent 480,071 Money Fund -5.623.30 Equities 4.513,028 Funds Withdrawn -2,500.000.00 Total $4,993,099 Amount Debited $-2.505,623.30 Closing Balance $0.00 Your Portfolio Allocation Cash 8Egaraient Equities 91% Unteeeti porno's denote debt babnce mkt shad Ticket vatos alosumn warm", m clothed from to Absola Amnon male el psi coritim. 027 0801/0705A4 001 V010 EFTA00201094 CLEARED THROUGH ITS YRICuy OHNED SUOMI:H.0w OFFICE SERVICING YOUR ACcOliNT Seal. SOWN SMOOCH Cory. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 One Marital, Cala North baltlin. Nat York 11201.3859 STEARNS JEFFREY EPSTEIN 4 vi STATEMENT PERM May 1.2007 THROUGH May 31.2007 ACCOUNT NUMBER TAXPAYER AVSSER Cfl File LAST STATEMENT *11 30.2007 Your Portfolio Holdings CASH & CASH EQUIVALENTS MENET DESCRPI1ON SYMBOUCOSIP MICE VALUE DREYFUS CASH MANAGEMENT-CL A DIOC( 480.070.90 1.0000 480,071 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 5,1900% TOTAL CASH & CASH EQUIVALENTS $480,071 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 iwatbearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. ACC! IMPXET ESTIMIE0 ESITUTED DESCRPRON STAIEWCUSI0 nn OUMMTY PRICE VALUE ANNUAL MCCUE VELD IS7 FELCOR LODGING TRUST INC FCH CASH 2.000 26.1900 52,380 2,000 3.8183 GLIMCHER REALTY TRUST-SBI GRT CASH 2,000 27.2500 54.500 3,846 7.0569 HRPT PROPERTIES TR-SBI HRP CASH 10,000 11.4800 114.800 8,400 7.3171 HOSPITALITY PROPERTIES TRUST HPT CASH 2,000 44.4400 88.880 6.080 6.8407 SBI 027 06.0100705:44 001 VOID EFTA00201095 CLEARED THROUGH ITS WHOLLY ONNED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT Seal. Reams Secudikp Goo. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 Cno Marital, Cala North Staltlin. Nat York 11201.3559 STEARNS JEFFREY EPSTEIN 5 STATEMENT PERIOD May 1.2007 THROUGH May 31.2007 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER KAMER On File LAST STATEMENT *11 30.2007 Equities & Options (continued) ACV PMFIKET ESTIMATED ESTIMATED DESCRIPTION SMIBOUCuSIP 7YPE OUAMITY PRICE VALUE ANNUAL NCO1AE VELD IM JOHNSON& JOHNSON JNJ CASH 57,800 63.2700 3.657.006 95,948 2.6237 BSC RAMO: STOCK P/SECTOR MW LEO DAVIS RESEARCH RATING: B KIMCO REALTY CORP KIM CASH 98 46.2900 4.536 141 3.1085 BSC RATING: STOCK 0/SECTOR MW GREEN STREET ADVISORS. INC. RATING: S MS LUCENT TECHNOLOGIES INC LUTWE CASH 235 0.1800 42 BP 12/10/2007 NAYARIT GOLD INC NYRTF CASH 19 0.7850 15 PENNSYLVANIA REAL ESTATE PEI CASH 1,794 47.5300 85.269 4,090 4.7966 INVESTMENT TRUSTSM RAMCO GEFISHENSON PROPERTIES APT CASH 12,000 36.9900 443.880 22,200 5.0014 TRUSTMO 581 SIRIUS SATELLITE RADIO INC SIRI CASH 1,000 2.9300 2.930 BSC RATING: STOCK P/SECTOR MW ATLANTIS RESEARCH RATiNG: B TRAVELCENTERS OF AMERICA LLC TA CASH 200 43.9500 8.790 Total Equities& Options $4,513,028 $142,705 TOTAL EQUITIES $4,513,028 $142,705 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $142,705 YOUR PRICEDPORTFOLIOHOLDINGS $4,993,099 027 06.0110705A4 001 V010 EFTA00201096 CLEARED THROUGH ITS vmCuy OmNED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT ONO. SOWN STORM* Cap. Bear. Swains 8 Co. Inc. BEAR 383 Madison Avenue New VONT Nell York 10179 CnoMerotoch Conla North BroStlin. New York 11201.3859 STEARNS JEFFREY EPSTEIN 6 vi STATEMENT PERIOD May 1.2007 THROUGH May 31.2007 Transaction Detail ACCOUNT NUMBER TAXPAYER AMMER OR File DEPOSITS AND WITHDRAWALS LAST STATEMENT *11 30.2007 DATE ITTAAISACTOR DEPA1 A1101,11/1 CREDIT MAXIM 05/09/07 FND WIRED NDS WIRED "O 2,500,000.00 RM. 05/09/07 FUNDS REC FNDS WIRED TO CITIBANK FROM 2500.000.00 TOTAL $-2,500,000.00 $2.500.000.00 MONEY FUND ACTIVITY DATE MCDAY TRANSACTOR DESCRIPTOR SYMECUCUSIP oumrtrry POCE DONT AMOUNT CREDIT AMOUNT 05/01/07 OPENINGBALANCE 474,447.60 05/01/07 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICA 2,00320 INSTITUTIONAL SHARES MCNIKY DIVIDEND 05/01/07 REINVEST DREYFUS CASH MANAGEMENT-CL A [XXX 2.00320 2,003.30 INSTITuDONAL SHARES DIVIDEND REINVEST 05/18/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICK% 1,520 1.0000 1,520.00 INSTITUTIONAL SHARES 05/24/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICK% 2,100 1.0000 2,100.00 INSTITUTIONAL SHARES 05/31/07 CLOSINGBALANCE 480,070.90 TOTAL 5.5.623.30 $2.003.30 027 06.0110705A4 001 VOID EFTA00201097 CLEARED THROUGH ITS YmCuy OHIVED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT Seal. Sleben SMARR Cat. BEAR Bear. Stearns 8 Co. Inc. One Marital, Cala North 383 Madison Avenue baltlin. Nat York 11201.3859 STEARNS New York. Nell York 10179 JEFFREY EPSTEIN 7 vi STATEMENT PERM May 1.2007 THROUGH May 31.2007 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER KAMER Cfl File DIVIDENDS LAST STATEMENT April 30.2007 DATE DESCRPTION SYMOCIJCUSIP WNW ME IS) Calf AMOUNT CREDIT AMOUNT 05/17/07 HOSPITALITY PROPERTIES TRUST HPT 2,000 0.7600 1,520.00 881 REC 04/16/07 PAY 05/17/07 05/24/07 HRPT PROPERTIES TR-SBI HRP 10,000 0.2100 2,100.00 REC 04/23/07 PAY 05/24/07 TOTAL $3,620.00 Your messages You are advised to promptly report any inaccuracy or discrepancy in your Bar 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 O6'0u07.05:/ 001 VOID EFTA00201098 CLEARED THROUGH ITS 19/11CU.Y ORIVED SUSSIDIAAv OFFCE SERVICING YOUR ACCCuNT seem. Steams Seamen core. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Cno Motrotoch Conk. North &calm Nov Vomit 11201.1859 STEARNS JEFFREY EPSTEIN INVESTMENT PROFESSIONAL ZICHERMANJRA STATEMENT PERK* March 31.2007 TELEPHONE THROUGH April 30.2007 VISIT OUR WEBSITE retny.bearsteams.com ACCOUNT NUMBER What's In This Statement Illlllllllllllllllllllll IMlllllllllllllllllllllllllllllllll TAXPAYER MOWER On File LAST STATEMENT March 30.2007 Financial Summary 3 JEFFREY EPSTEIN Your Portfolio Holdings ........................... 4 CIO FINANCIAL TRUST COMPANY 6 ATTN JEANNE BRENAN Fund Ac1M1Y.......................................... 6 6100 RED HOOK (WATER 8-3 ST THOMAS VI 00802-1348 Your Messages ...................................... 7 Your Portfolio at a Glance Market Value of Your Portfolio Cash& Equvalent $467.35.4 408 3 TOTAL VALUE OF SECURITIES THIS PERIOD 4,574,378 MONEY MARKET FUND BALANCE 474,448 Equities ■ $4.574.378 $4.329,349 NET EQUITY This PERIOD $5,048,826 Current market value NO Last statements market value NET ECUITY LAST STATEMENT 4,794,752 CHANGE SINCE LAST STATEMENT 254,074 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Promo rood on/ clIforonoo a ccoroctiot of chacks or stocks, oulicolal as dotkorod to ,cu. to Cleni Sonic°. al 800614.1428: a veto to Clom Bonk.. a Bow. Swarm SecuMos 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. Ca,.. One Lletok•-li Carlo, North. ErrooNyn, NY 112014859 027 0901107.07:14 001 V009 EFTA00201099 CLEARED THROUGH ITS WHOLLY ORNED SUBSIDIARY Seal. Reams RecutWei Cup Cm Metaled, Conk. North 9roStlin. Nov York 11201.3859 JEFFREY EPSTEIN 2 or 7 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 05,011070714 001 V009 EFTA00201100 CLEARED THROUGH ITS 19/11CU.Y ODISED SUSSIDIATiv OFFICE SERVICING YCUR ACCOUNT ENOS steams snoop cop. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Ono Motrotoch Conk. North Nov York 11201.3859 STEARNS JEFFREY EPSTEIN 3 STATEMENT PERK* March 31.2007 THROUGH Aga 30.2007 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER NUEI3ER On File THIS PERICO 11S PEP CO YEAR TO DATE LAST STATEMENT MVO 30.2007 Opening Balance $0.00 Dividends 9.044.56 51.036.55 Total $9,044.56 $51,036.55 Money Fund 1.997.68 Dividends/Interest 7.046.88 Amount Credited $9.044.56 Portfolio Composition Money Fund -9.044.56 Cashtash Equivalent 474.448 Amount Debited $-9.044.56 Equities 4.574.378 Closing Balance $0.00 Total $5,048,826 Your Portfolio Allocation Cash aEcsuralent • Equities 91% Ustesotsi somas owe* debt Sauce arid," shod maids vat*. aloomsa pacoroar is domed Nen Pa 40$01.00 inal$401 Wk.& 01 ocrOolo. 027 osvirrarrao 001 V009 EFTA00201101 CLEARED THROUGH ITS vmCuy OmNED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT SW. SOWN Secudik4 Coo Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 One Marital, Cala North baltlin. Nat York 11201.3859 STEARNS JEFFREY EPSTEIN 4 vi STATEMENT PERIOD March 31.2007 THROUGH April 30.2007 ACCOUNT NUMBER TAXPAYER AVSSER Cfl File LAST STATEMENT Wirth 30.2007 Your Portfolio Holdings CASH & CASH EQUIVALENTS /AARKE1 DESORPTION STMEIOLE0Sip OLIAIITIT) PRICE VALUE DREYFUS CASH MANAGEMENT-CL A DICXX 474.447.60 1.0000 474.448 INSTITUTONN_ SHARES EST, 30 DAY AVG YIELD 5,1600% TOTAL CASH & CASH EQUIVALENTS $474.448 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 iwatbearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. ACCT IMRNET ESTIMATED ESITAATED DESCRIPTOR STAISCIAUSIP TIE OUANTTY PRCE VALUE ANNUAL MCCUE YEW PO FELCOR LODGING TRUST INC FCH CASH 2.000 25.5300 51.060 2,000 3.9170 GLIMCHER REALTY TRUST-SBI GRT CASH 2,000 27.0100 54,020 3,846 7.1196 HRPT PROPERTIES TR-SBI HRP CASH 10,000 12.2400 122,400 8,400 6.8627 HOSPITAUTY PROPERTIES TRUST HPT CASH 2,000 45.5300 91,060 6.080 6.6769 SBI 027 050110707:14 001 V009 EFTA00201102 CLEARED THROUGH ITS ymGuy OWNED SUBSIDIARY OFFICE SERVICING YOUR AC/OliNT Sem. Reams SINAI* GO% Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Nell York 10179 One Mewled, Conic. North IloStlin. New York 11201.3859 STEARNS JEFFREY EPSTEIN 5 STATEMENT PERO) March 31.2007 THROUGH April 30.2007 Your Portfolio Holdings (continued) =coin NUMBER TAXPAYER KAYSER Co File LAST STATEMENT Muth 30.2007 Equities & Options (continued) ADOT /AVOCET ESTMATED EST0.411E0 DESORPTION SIMBOUGuSIP Tiff OUAMITY PACE VALUE ANNUAL NOME Yap IX/ JOHNSON& JOHNSON JNJ CASH 57,800 64.2200 3.711.916 95,948 2.5849 BSC RAMO: STOCK P/SECTOR WO DAVIS RESEARCH RATING: B KIMCO REALTY CORP KIM CASH 98 48.0700 4,711 141 2.9930 BSC RADNG: STOCK 0/SECTOR MW GREEN STREET ADVISORS. INC. RATING: S MS LUCENT TECHNOLOGIES INC LUTHW CASH 235 0.1400 33 DIP 12/10/2007 NAYARIT GOLD INC NYRTF CASH 19 0.8930 17 PENNSYLVANIA REAL ESTATE PEI CASH 1.794 46.4600 83,349 4.090 4.9071 INVESTMENT TRUST-S& RAMCO GEFISHENSON PROPERTIES RPT CASH 12.000 37.0000 444.000 22.200 5.0000 TRUSTMO 581 SIRIUS SATELLITE RADIO INC SIRI CASH 1.000 2.9600 2.960 BSC RATiNG: STOCK P/SECTOR MW ATLANTIS RESEARCH RAMO: B TRAVELCENTERS OF AMERICA LLC TA CASH 200 44.2600 8.852 Total Equities& Options $4.574.378 $142.705 TOTAL EQUITIES $4,574,378 $142.705 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $142.705 YOUR PRICED PORTFOLIOHOLDINGS $5.048.826 027 0901)0707:14 001 V009 EFTA00201103 CLEARED THROUGH ITS WHEW. OnelED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT Seel. Reams SANAA* Core. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue Cne Metaled, Center North bccenn. Nov York 11201.3859 STEARNS New York. Nell York 10179 JEFFREY EPSTEIN STATEMENT PERIOD March 31.2007 THROUGH April 30.2007 Transaction Detail ACCOUNT NUMBER TAXPAYER RAMER On File MONEY FUND ACTIVITY LAST STATEMENT Mardi 30.2007 DATE AKVDAY TRANSACTION DESCRIPTPN SYMEOJCVSIP GUMMY PRICE DEBIT AMOUNT CREDIT AMOUNT 03/31/07 OPENINGBALANCE 465,403.04 04/02/07 PZKIAHT DREYFUS CASH MANAGEMENT-CL A DICXX 5,550 1.0000 5,550.00 INSTITUTIONAL SHARES 04/02/07 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICXX 1.997.68 INSTITUTIONAL SHARES MOWRY DIVIDEND 04/02/07 REINVEST DREYFUS CASH MANAGEMENT-CL A DICXX 1,997.68 1,997.68 INSTITUTIONAL SHARES DIVIDEND REINVEST 04/16/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 996.88 1.0000 996.88 INSPITUT/CNAL SHARES 04/30/07 BOUGHT DREYFUS CASH MANAGEMENT-CA. A DICK% 500 1.0000 500.00 INSTITUTIONAL SHARES 04/30/07 CLOSINGAIALANCE 474,447.60 TOTAL $-9,044.56 $1.997.68 DIVIDENDS DATE OESCRVHON symectirusie OVAARITY RAE DEBIT AMOUNT DREW AMOUNT 04/02/07 RAMCO GERSHENSON PROPERTIES RPT 12.000 0.4625 5,550.00 TRUSTMD SBI REC 03/20/07 PAY 04/02/07 04/16/07 GLIMCHER REALTY TRUST-Sal GAT 2.000 0.4808 961.60 REC 03/30/07 PAY 04/18/07 04/16/07 KIMCO REALTY CORP KIM 98 0.3600 35.28 REC 04/94/07 PAY 04/18/07 027 0901/0707:14 001 V009 EFTA00201104 CLEARED THROUGH ITS WHOLLY OMED SUBSIDIARY OFFICE SERVICING YOUR ACcOliNT 8081. Reams Seoxiket Coo. Bear. Steams 8 Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 One MORINO Conk. North baltlin. Nov York 11201.3859 STEARNS JEFFREY EPSTEIN 7 vi STATEMENT PERIOD March 31.2007 THROUGH April 30.2007 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER KAMER Ofl File DIVIDENDS (continued) LAST STATEMENT Muth 30.2007 DATE DESORPTION SYMODUCVSIP CUANTIN AVE -:s DEBIT AMOUNT DREW AMOUNT 04/30/07 FELC0R LODGING TRUST INC KM 2.000 0.2500 500.00 REC 00/13/07 PAY 04/30/07 TOTAL $7.046.89 Your messages You are advised to promptly report any inaccuracy or discrepancy in your account to your broker and Bear, Steams Securities Corp, cBSSC1 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 05m07237:14 001 1009 EFTA00201105 CLEARED THROUGH ITS ymGuy ORNED SURSICHARy OFFICE SERVICING YOUR ACcOliNT SW. SOAP'S SeUAW, Cat. Bear. Swains & Co. Inc. BEAR 383 Madison Avenue One Metaled, Conk. North Sto*kn. Nov York 11201.3859 STEARNS New York. Nell York 10179 JEFFREY EPSTEIN STATEMENT PERIOD March 1.2007 THROUGH March 30.2007 ACCOUNT NUMBER 038-28825 IIIIIIIIIIIIIIIIIIIIIIIIII111IIIIIIIIIIIIIIIIIIIIIIIII TAXPAYER NURSER On File LAST sTATELIENT Pebrualy 28.2007 JEFFREY EPSTEIN C/0 FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK (WATER 8-3 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, biglicitly EPSTEIN INTERESTS A/C JEFFREY EPSTEIN ATTN HARRY BELLER 457 MADISON AVE 4TH FLR NEW YORK NY 10022 027 03,31,0706:43 001 "006 EFTA00201106 CLEARED THROUGH ITS WHOU.Y ODNED SUBSIDIARY OFFCE SERVICING YOUR ACCOUNT 8.N. Steams SIMON Cat. Bear. Stearns 8 Co. Inc. BUR 383 Madison Avenue New York New York 10179 Ono Notated, Conk. North BroStlin. Nov York 112013859 STEARNS JEFFREY EPSTEIN INVESTMENT PROFESSIONAL ZICHERMAN.IRA STATEMENT PER100 March 1.2007 TELEPHONE THROUGH March 30.2007 VISIT OUR WEBSITE rivnv.bearstearns.com ACCOUNT NUMBER What's In This Statement llllllllllll11111111111111111111111111111111111111111111111111 TAXPAYER KINSER On File LAST STATEMENT February 28.2007 Financial Summary „„,„„„,„„„,„„,„„„„ 3 JEFFREY EPSTEIN Your Portfolio Holdings ..... 4 CIO FINANCIAL TRUST COMPANY 6 ATTN JEANNE BRENAN Fund Activity ,„„,„„„,„ .....„„,„„„,„„,„„, 6 6100 RED HOOK (WATER B-3 Your Messages ...................................... 7 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio TOTAL VALUE Cf SECURITIES THIS PERIOD 4,329,349 Cash & Equvalent lir $465136 5439. 403 MONEY MARKET FUND BALANCE 465,403 Equities .329.349 $4.490.126 NET EQUITY THIS PERIOD $4,794,752 Current market value NET ECUITY LAST STATEMENT 4,929,262 Last statement's market value CHANGE SINCE LAST STATEMENT -134,510 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Roza copal ant Offeance a rasfoctiot GI ctecks or sKKks, eidicolocl m <Polkaed to tau. to Cleni Shim. al 800614.1428: IX vat to Clem Services a Bow. Stearre Sccuales Ca,. Co. 1.10ok•-li Cool. North. Srocelyn, NY. 11201'5 t. SIK This summary is for informational purposes only. It is not intended as a lax document. This statement should be retained for our records. See reverse side for important information. 027 0,3031107Dece& 001 V008 EFTA00201107 CLEARED THROUGH ITS YmCuy ORTJED SO8SICHAriv Ow. Reams SiXxxl081 Cat. Ono Alevotech Corder HORN 8reck4n. flew Yeti( 1120/3859 JEFFREY EPSTEIN 2 or lo STATEMENT BACKER IS PRINTED ON THIS PAGE 027 031110706A3 001 V008 EFTA00201108 CLEARED THROUGH ITS vniCU.Y OWNED SUBSIDIARY OFFCE SERVICING YOUR ACCCUNT Beef. Steams Securlikis Cup Bear. Steams & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 CaeMotrotoch Conte. North Broadin. Nov York 11201.1859 STEARNS JEFFREY EPSTEIN 3 ri STATEMENT PERIOD Muth 1.2007 THROUGH Muth 30.2007 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER NUMBER On Fda THIS PERICO its PERCO YEAR IODATE LAST STATEMENT February 28.2007 Opening Balance $0.00 Dividends 26,267.47 41,991.99 Money Fund 3,569.89 Total $26.267.47 $41.991.99 Dividends/Interest 22,697.58 Miscellaneous 10,000,000.00 Amount Credited $10,026,267.47 Portfolio Composition eashICash Equivalent 465,403 Money Fund -26.26747 Equities 4.329,349 Miscellaneous -10,000,000.00 Total $4,794,752 Amount Debited $-10.026,267.47 Closing Balance $0.00 Your Portfolio Allocation Cash&Equmaleni • 9% Equities 91% UntivOod POMOnS am* debt Infance soda short mwta vat's. TM alowar. pacitniar is denied Item tes obsolso manila maw of IBA octilMo. 027 0303110706:43 001 ‘,00,3 EFTA00201109 CLEARED THROUGH ITS vmCuy OmNED SUBSIDIARY OFFICE SEMACiNG YOUR ACcOliNT Sm.Ream Spathes Coo Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York, Nell York 10179 One Marital, Cerra North Staltlin. Nat York 112014859 STEARNS JEFFREY EPSTEIN 4 vi STATEMENT PERIOD Muth 1.2007 THROUGH Mardi 50.2007 ACCOUNT NUMBER TAXPAYER KAMER On File LAST STATEMENT Pthrulluy 28.2007 Your Portfolio Holdings CASH & CASH EQUIVALENTS mARKET DESCRthlON SYMBOUCOSIP QUOIT T) PRICE VALUE DREYFUS CASH MANAGEMENT-CL A DIOCT 465.403.04 1.0000 465.403 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 5,1700% TOTAL CASH & CASH EQUIVALENTS $465.403 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 iwatbearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. ACCT MARKET ESTIMATED ESITAATED DESCRIPTOR STAMM/CUSP. TTPE CIUMT1TY PRICE vAUX ANNUAL NCOME YEW IW FELCOR LODGING TRUST INC FCH CASH 2.000 25.9700 51,940 2,000 3.8506 GLIMCHER REALTY TRUST-SBI GRT CASH 2,000 27.0200 54.040 3,846 7.1170 HRPT PROPERTIES TR-SBI HRP CASH 10,000 12.3000 123.000 8,400 6.8293 HOSPITALITY PROPERTIES TRUST HPT CASH 2,000 46.8000 93.600 5.920 6.3248 SBI 027 0311/0706AS 001 V008 EFTA00201110 CLEARED THROUGH ITS ME:0y 08TJED SUBSIDIARY OFFICE SERVICING YOUR AC/OliNT DIV. Sleben Seeed081 GOO Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New VOrk Nell York 10179 CnoMotrotoch Coma North BroStlin. Nov York 11201.3859 STEARNS JEFFREY EPSTEIN 5 vi STATEMENT PERIOD Minh 1.2007 THROUGH Muth 50.2007 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER KISSER On File LAST STATEMENT Pthrulluy 28.2007 Equities & Options (continued) ACCT MARKET ESTIMATED ESTMATE0 DESCRPTI0N MB0UO.ISIP DEE OUAMITY PACE VALLE ANNUAL INCOIAE VELD Iv4 JOHNSON& JOHNSON JNJ CASH 57,800 60.2600 3.483.028 86,700 2.4892 BSC RAMO: STOCK P/SECTOR MW LED DAVIS RESEARCH RATING: B IMAGO REALTY CORP KIM CASH 98 48.7400 4.777 141 2.9516 BSC RADNG: STOCK 0/SECTOR MW GREEN STREET ADVISORS. INC. RATING: S MS LUCENT TECHNOLOGIES INC LUTHW CASH 235 0.0950 22 SIP 12/10/2007 NAYARIT GOLD INC NYRTF CASH 19 0.5110 10 PENNSYLVANIA REAL ESTATE PEI CASH 1.794 44.3300 79.528 4.090 5.1428 INVESTMENT MI/ST-SIN RAMCO GERSHENSON PROPERTIES RPT CASH 12.000 35.7100 428.520 22.200 5.1806 TRUSTA4O S81 SIRIUS SATELLITE RADIO INC SIRI CASH 1.000 3.2000 3.200 BSC RATM70: STOCK P/SECTOR MW ATLANTIS RESEARCH RAMO: B TRAVELCENTERS OF AMERICA LLC TA CASH 200 38.4200 7.684 Total Equities& Options $4.329,349 $133.297 TOTAL EQUITIES $4.329249 $133.297 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $133.297 YOUR PRICED PORTFOLIOHOLDINGS $4,794,752 027 0311107/MA3 001 VOO8 EFTA00201111 CLEARED THROUGH ITS YMOLLY ORNED SUBSIDIARY OFFICE SERVICING YOUR ACcOr see SW. sown SBOwl081 GOO. Bear. Swains 8 Co. Inc. BEAR 383 Madison Avenue New York. Nell York 10179 One MORINO Conk. North bcdtlin. Nov York 11201.3859 STEARNS JEFFREY EPSTEIN 6 STATEMENT PERIOD March 1.2007 THROUGH March 30.2007 Transaction Detail ACCOUNT NUMBER TAXPAYER MAKER On Foe MONEY FUND ACTIVITY LAST STATEMENT February 25.2007 DATE AKVDAY TRANSACTION DESCRIPTCN SYLIECUCVSIP OU/NMY PFOCE men AMOUNT CREDIT AMOUNT 03/01/07 OPENINGBALANCE 439,135.57 03/01/07 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICXX 3.569.89 INSTITUTIONAL SHARES MONTItY DIVIDEND 03/01/07 REINVEST DREYFUS CASH MANAGEMENT-CL A DICXX 3,569.89 3,569.89 INSTITUTIONAL SHARES DIVIDEND REINVEST 03/13/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DION 21,675 1.0000 21,675.00 INSTITUTIONAL SHARES 03/15/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DION 1,022.58 1.0000 1,022.58 INSTITUTIONAL SHARES 03/30/07 CLOSINGBALANCE 465,403.04 TOTAL $26.267.47 $3.569.89 DIVIDENDS DATE CESCRIPTICN SYTABOUCUSIP GUMMY RATE rs) men AMOUNT CAECIT MACuta 03/13/07 JOHNSON& JOHNSON JNJ 57,800 0.3750 21,675.00 REC 02/27/07 PAY 03/13/07 03/15/07 PENNSYLVANIA REAL ESTATE PEI 1,794 0.5700 1,022.58 INVESTMENT TRUST-S& REC 03/01/07 PAY 03/15/07 TOTAL $22.697.58 027 0311/0706A3 001 V008 EFTA00201112 CLEARED THROUGH ITS vmCuy OimgED SUBSIDIARY OFFICE SEMAC0+3 YOUR ACcOliNT Seal. Reams avorvieer Gore Bear. Swains & Co. Inc. BEAR 383 Madison Avenue One Marital, Cerra North SrodJln. Nat York 11201.3859 STEARNS New York. Nell York 10179 JEFFREY EPSTEIN 7 vi STATEMENT PERIOD Mandl 1.2007 THROUGH Mardi 30.2007 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER KAMER Cfl File MISCELLANEOUS LAST STATEMENT Pthrulluy 28.2007 DATE 1.00AY TRANSACTON DESCRIPTOR DENT AMOUNT CREPT MOUNT 03/30/07 JOURNAL TO 049-47138 10,000,000.00 03/30/07 JOURNAL FROM UM 10,000,000.00 TOTAL 5.10.000,000.00 $10.000.000.00 Your messages Bar 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's 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 mvw,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, tf 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, 027 031110706AS 001 VOOS EFTA00201113 CLEARED THROUGH ITS WHOLLY ODIVED SU8SIDIAAv OFFICE SERVICING YOUR ACFOONT 84181. Stearns sestina's CNO Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue CceMetrotech Conk. North 9tcc4tDn. Nov York 11201.3859 STEARNS New YY New York 10179 JEFFREY EPSTEIN 8 STATEMENT PERIOD March 1.2007 THROUGH March 30.2007 ACCCUNT NUMBER TAXPAYER WESER On FM LAST STATEMENT February 28.2007 You are advised to promptly report any inaccuracy or discrepancy in your NOTICE OF CHANGE PURSUANT TO TRUTH-IN-LENDING SEC RULE 10b-16 Bar account to your broker and Bear, Stearns Securities Corp. CBSSC") 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 BSSC 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 EFTA00201114 CLEARED THROUGH ITS WHOLLY ODIVED SUOSIDIAAv OFFICE SERVICING YOUR ACcOliNT 84181. sown seaways cow. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New YY New York 10179 One MORINO Conk. North 9taltlin. Nov York 11201.3859 STEARNS JEFFREY EPSTEIN 9 STATEMENT PERIOD March 1.2007 THROUGH March 30.2007 ACCOUNT NUMBER TAXPAYER AMMER On Ede LAST STATEMENT FebiuIvy 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 03.31/0706A3 001 8008 EFTA00201115 CLEARED THROUGH ITS vmCuy ORIRED SUBSIDIARY OFFICE SERVICING YOUR ACcOr KIT Seer. Reams Secudik4 Goo Bear. Swains & Co. Inc. BEAR 383 Madison Avenue One Marital, Cerra North 80o: Nat York 11201.3859 STEARNS New York. Nell York 10179 JEFFREY EPSTEIN 10 ci STATEMENT PERIOD Meech 1.2007 THROUGH Mardi 30. 2007 ACCOUNT NUMBER TAXPAYER KAMER Cfl File LAST STATEMENT PebruEuy 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 EFTA00201116 CLEARED THROUGH ITS YrtICALY OVMED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT BMI. Steams SintorlIkrt Corp Bear. Stearns & Co. Inc. BffiR 383 Madison Avenue New York. New York 10179 Colo Moncton, Conn North Etc", Nov Mork 11201.3859 STffiRNS JEFFREY EPSTEIN INVESTMENT PROFESSIONAL ZICHERMAN.IFtA STATEMENT PERK* February I.Ø7 TELEPHONE THROUGH February 28.2007 VISIT OUR WEBSITE wrAv.bearsteams.com ACCOUNT NUMBER What's In This Statement 11111111111llilIll111111111111111111IIIII111111IIllll1l111IIII1 TAXPAYER AVIMER On File LAST STATEMENT January 31.2007 Financial Summary 3 JEFFREY EPSTEIN Your Portfolio Holdings 4 C/0 FINANCIAL TRUST COMPANY Transaction Detail 6 ATTN JEANNE BRENAN Fund Activity 6 6100 RED HOOK (WATER B-3 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Equvalent 39 136 TOTAL VALUE OF SECURITIES THIS PERIOD 4,490,126 $1.423.446 MONEY MARKET FUND BALANCE 439,136 Equities a4. $4.07.2 49 142.6233 NET EQUITY THIS PERIOD $4,929,262 Current market value NET EQUITY LAST STATEMENT 6,147,679 ON Last statements market value CHANGE SINCE LAST STATEMENT -1,218,417 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. for dermahonal whose. any. R H riot ~MEd as a Mr Goon"' Plaza ropori aft/ diNfOrICO a ~imam of chocks or Haas. Heficarod z dolkoroo lo >to. lo Omni Samos or 800BM-1428: a ono ro Clem soMcos a Bow. Smarm Swum.» Ca,.. One Marton, Cone" North. Broonyn. NY. 112014/59 St Tres ~Nis TDs naternon should be Maned An your records. Sn mom THIE for enportal ricemoron 027 03V/0705:17 001 r.006 EFTA00201117 CLEARED THROUGH ITS YmCuy ORIVED SLISSICIMAy SW. Sleben SMARR. CYO. One Metaled, Conk. North 9roStlin. Nov York 11201.3859 JEFFREY EPSTEIN 2 or 7 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 03,0110705:17 001 V0013 EFTA00201118 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Beef. SleanIS secu lbs CYO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 01* Motored, Conla North BroStlin. New York 11201.3859 STEARNS JEFFREY EPSTEIN 3 ci STATEMENT PERIOD February 1.2007 THROUGH February 28.2007 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER AMMER On File THIS PERI00 Die PERIOD YEAR TO DATE LAST STATEMENT January 31.2007 Opening Balance Dividends 15,689.24 15,724.52 $0.00 Money Fund 1,014,209.24 Total $15,689.24 $15,724.52 Dividends/Interest 1,480.00 Amount Credited $1.015.689.24 Portfolio Composition Money Fund -15.689.24 Cashtash Equivalent 439.136 Funds Withdrawn -1,000.000.00 Equities 4.490.126 Amount Debited $-1 015 689.24 Total $4.929.262 Closing Balance $0.00 Your Portfolio Allocation Caen 8 Eceavalem 8% L Equities 92% Unteeeti Preen, donor* 000* OttenCe tuck, awn rn tto vas. Tro alocome. patomor m crowed from to aosolso mark*, mak* 01 pxe 027 03101/070517 001 V006 EFTA00201119 CLEARED THROUGH ITS VOICUY OWED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SOT. warns secivion coin Bear. Stearns & Co. Inc. BUR 383 Madison Avenue One Metaled, Conk. North EkoNtlin. Nov York 11201.3859 STEARNS New YY New York 10179 JEFFREY EPSTEIN 4 STATEMENT PERIOD RINNUIVy 1.2007 THROUGH Feeniwy 28.2007 ACCOUNT NUMBER TAXPAYER AMMER On FIk LAST STATEMENT January 31.2007 Your Portfolio Holdings CASH & CASH EQUIVALENTS IMRKE1 ESTIMATED ESTRUM:, DESCROUTOti STMESCVCVSIP ouornw PRICE VALUE ANNUAL INCOME YELD DREYFUS CASH MANAGEMENT -CL A DIM 439,135.57 1.0000 439.136 23.274 5.3000 INSTITUTIONAL SHARES EST, 30 DAY AVG VELD 5.1700% TOTAL CASH & CASH EQUIVALENTS 8439.136 323274 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 MARKET ESTMATE0 ESITTATED DESCRATION SYMEWCUSIP TYPE OUMIRTY PRICE VALUE ANNUAL 'COME YEW r44 FELCOR LODGING TRUST INC FCH CASH 2,000 23.5800 47,160 2,000 4.2409 GLIMCHER REALTY TRUST-SBI GRT CASH 2,000 27.8100 55.620 3,846 6.9148 HRPT PROPERTIES TR-SBI HRP CASH 10,000 12.9200 129.200 8,400 6.5015 HOSPITAUTY PROPERTIES TRUST HPT CASH 2,000 46.0700 92.140 5,920 6.4250 581 027 0301/0705:17 001 8006 EFTA00201120 CLEARED THROUGH ITS vmOu.v OmED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Reef. Reams Seuxlikis Goo Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 CnoMotrotoch Coma North BroStlin. Nov York 11201.3859 STEARNS JEFFREY EPSTEIN 5 vi STATEMENT PERIOD February 1.2007 THROUGH February 28.2007 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER AMBER On File LAST STATEMENT January 31.2007 Equities & Options (continued) ACCT MARKET ESTAVITED ESTAVITED DESORPTION SINIBOUGuSIP TYPE OUANTITY PACE vALLE ANNUAL INCOME vEUGOI) JOHNSON& JOHNSON JNJ CASH 57.800 63.0500 3.644.290 86,700 2.3791 BSC RATING: STOCK P/SECTOR MW NED DAVIS RESEARCH RATING: B KIMCO REALTY CORP KIM CASH 98 50.2600 4.925 141 2.8629 BSC RATING: STOCK 0/SECTOR MW GREEN STREET ADVISORS. INC. RATING: S lArTS LUCENT TECHNOLOGIES INC LUTHW CASH 235 0.1750 41 DIP 12/10/2007 NAYARIT GOLD INC NYRTF CASH 19 0.5730 11 PENNSYLVANIA REAL ESTATE PEI CASH 1.794 43.1600 77,429 4.090 5.2823 INVESTMENT TRUST-SBI RAMCO GERSHENSON PROPERTIES RPT CASH 12.000 35.7000 428,400 21.480 5.0140 TRUST-MD SBI SIRIUS SATELLITE RADIO INC SIRI CASH 1.000 3.6500 3.650 BSC RATING: STOCK P/SECTOR MW ARANTIS RESEARCH RATING: B TRAVELCENTERS OF AMERICA LLC TA CASH 200 36.3000 7,260 Total Equities& Options $4.490,126 $132.577 TOTAL EQUITIES $4.490,126 $132.577 YOUR PORIFOLIOHOLDINGSESTIMATED ANNUAL INCOME $155.851 YOUR PRICEDPORTFOLIOHOLDINGS $4,929,262 027 03,011070517 001 V006 EFTA00201121 CLEARED THROUGH ITS WHOU.Y OMIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SNP. Warns Sennees Core Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Conk. North 9toStlin. Nov York 11201.3859 STEARNS JEFFREY EPSTEIN 6 ti STATEMENT PERIOD February 1.2007 THROUGH February 28.2007 Transaction Detail ACCOUNT NUMBER TAXPAYER PINDER On File INVESTMENT ACTIVITY LAST STATEMENT January 31.2007 SETTLEMENT TRADE DATE DATE TRANSACTION DESCRIPTION SYMOCVCUSP GUMMY PRICE DEBIT AMOUNT DIED" A/AO.r...NT 02/06/07 02/01/07 BOUGHT TRAVELCENTERS OF AMERICA LLC TA 200 SPINOFF ON 2000 SHS HOSPITALITY PROPERTIES TRUST SPINOFF FROM SEC# H408026 REC 01/26/07 PAY 01/31107 TOTAL DEPOSITS AND WITHDRAWALS DATE IPPALSACTION osstrie-ice/ DEBIT AMOUNT CREDIT AMOUNT 02/1407 FND WIRED MDA NDS WIRED TO 1.000.000.00 E Sib TOTAL $-1.000.000.00 MONEY FUND ACTIVITY DATE MOAT TRANSACTION DESCRIPTION SYMEO/CUSIP DUMMY PRICE DEBIT AMOUNT CREDIT AMOUNT 02/01/07 OPENINGBALANCE 1,423,446.33 02/01/07 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICA 14,209.24 INSTITUTIONAL SHARES MONTHLY DIVIDEND 02/01/07 REINVEST DREYFUS CASH MANAGEMENT-CL A DIC0( 14,209.24 14.209.24 INSTITUTIONAL SHARES DIVIDEND REINVEST 02/14/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -1.000.000 1.0000 1,000,000.00 INSTITUTIONAL SHARES 027 03.01/0705:17 001 stME. EFTA00201122 CLEARED THROUGH ITS WHOU.Y OMED SUBSOIARY OFFICE SERVICING YOUR ACCOUNT SW. Reams SMARM Gat. Bear. Stearns & CO. Inc. BEAR 383 Madison Avenue New York New York 10179 One Motrotoch Coma North 9=4.101. Nov York 11201.3859 STEARNS JEFFREY EPSTEIN 7 d STATEMENT PERIOD February 1.2007 THROUGH February 28.2007 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER AMMER OR File MONEY FUND ACTIVITY (continued) LAST STATEMENT January 31.2007 DATE 1.100AY TMNSACTICN DESCRIPTION SYMEAUGUSIP WANMY PncE DEBIT AMOUNT CREDIT AMOUNT 02/15/07 BOUGHT DREYFUS CASH MANAGEMENT-Cl. A DIC)3( 1.480 1.0000 1,480.00 INSRTUTIONAL SHARES 02/28/07 CLOSINGBALANCE 439,135.57 TOTAL $.15.689.24 $1.014.209.24 DIVIDENDS DATE DESORPTION STAIDOLCUSIP CUANTITY PATE 0) DEBIT AMOUNT CREDIT AMOuta 02/15/07 HOSPITALITY PROPERTIES TRUST HPT 2.000 0.7400 1.480.00 Sal REC 01/16/07 PAY 0MS/07 TOTAL $1.480.00 End of Statement 027 03/0110705:17 001 80013 EFTA00201123 CLEARED THROUGH ITS WHOLLY OmIED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SW. Steams SOMAIHS Cop Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue New York Nee York 10179 Ono Motrotoch Coma Noah Elecot/gn, New Vet* 11201.3859 STEARNS JEFFREY EPSTEIN INVESTMENT PROFESSIONAL ZICHERMAN.IRA STATEMENT PERIOD December 30.2006 TELEPHONE THROUGH January 31.2007 VISIT OUR WEBSITE ‘wnv.bearstearns.com ACCOUNT NUMBER What's In This Statement Illllllllllllllllllllll lllllllllllllllllllllllllllllllllllllll TAAPA7ER WIRER On FIk LAST STATEMENT December 29.2006 Financial Summary 3 JEFFREY EPSTEIN Your Portfolio Holdings 4 CIO FINANCIAL TRUST COMPANY Transaction Detail 6 ATTN JEANNE BRENAN Fund Activity 6 6100 RED HOOK OUATER B-3 ST THOMAS VI 00802-1348 Your Portfolio at a Glance Market Value of Your Portfolio Cash & Eqwvalen, _Mr $1,423,446 TOTAL VALUE OF SECURITIES THIS PERIOD 4.724.233 55.051.600 MONEY MARKET FUND BALANCE 1,423.446 Equities H $4.724.233 54.667.973 NET EQUITY THIS PERIOD $6.147.679 Current market value lin Last statement's market value NET EOLIITY LAST STATEMENT 9.719.773 CHANGE SINCE LAST STATEMENT -3.572.094 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Flex° food ant clitorocco or notwocolot of tees or stocks. calcolod as dot/road lo to Gent Sonic*. al 80004-1128: or veto to CNN SONIC.. m Bow. Steen SccuMos Coup.. One lActolecn Coolly Honk 8rooUrn. N.Y. 1170141RM gh Tin SI•TtnEY a tin EIROAMIonol pogrom Cary r.:4 fended asa lar 0ocmvurt atornorl ORA be Maud for your records Soo worn So for mouton yeoman= 027 07101,07.06:16 001 \'004 EFTA00201124 CLEARED THROUGH ITS YmCuy ORIVED SUBSIDIARY SW. Sleben Se044041 C440 One Mewled, Conk. North 9roStlin. Nov York 11201.3859 JEFFREY EPSTEIN 2 ol e STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0210110708:18 001 V004 EFTA00201125 CLEARED THROUGH ITS IMICUY OMED SURSIDIATiv OFFICE SERVICING YOUR ACCOUNT SW. sown SMARM GOO. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Motored, Conic. North DroStlin. Nov York 11201.3559 STEARNS JEFFREY EPSTEIN 3 STATEMENT PERIOD December 30.2006 THROUGH January 31.2007 ACCOUNT NUMBER Cash Flow Analysis Income Summary TAXPAYER NUMBER On File THIS PERIOD MS PERIOD YEAR TO DATE LAST STATEMENT December 29.2006 Opening Balance Dividends 35.28 35.28 $0.00 Money Fund 4,523,910.27 Total $35.28 $35.28 Funds Deposited 838,768.97 Dividends/Interest 8.966.88 Miscellaneous 10,000,000.00 Portfolio Composition Amount Credited $15,371,646.12 Cashtash Equivalent 1,423,446 Equities 4.724,233 Money Fund -871.646.12 Funds Withdrawn -4,500.000.00 Total $6.147.679 Miscellaneous -10,000,000.00 Amount Debited $-15 371 646.12 Closing Balance $0.00 Your Portfolio Allocation Cash & Equivalent 24% Equities 76% Un*Oeeti Preen, denote 0001 0ttenCe omit, shod Ticket Vitali alocama poi omxp H crowed from to amok*, (radon maluo or pxe Actilmo. 027 W01/0706:I6 001 V000 EFTA00201126 CLEARED THROUGH ITS OUIVED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SOL warns see-wives cam Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Cno Motrotoch Conk. North StoMtkn. Nov York 112013559 STEARNS New YY New York 10179 JEFFREY EPSTEIN 4 STATEMENT PERIOD December 30.2006 THROUGH January 31.2007 ACCOUNT NUMBER TAXPAYER AMMER On File LAST STATEMENT December 29.2006 Your Portfolio Holdings CASH & CASH EQUIVALENTS IA* <ET ESTIMATED ESTRUTE0 CIESCRPRON S7MEICIJCVSIP ousanw NICE 'iN.UE Anwx. oeCW€ ) EltD I% DREYFUS CASH MANAGEMENT -CL A DICA 1,423,446.33 1.0000 1.423.446 75.443 5.3000 INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 5,1600% TOTAL CASH & CASH EQUIVALENTS $1.423.446 $75.443 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. ACCT IMUCET ESTRWIE0 ESMMATED DESCRATION SYMEICUCUSIP Tiff OUMERTY PRCE VALUE ANNUAL 'COME YEW I14 FELCOR LODGING TRUST INC FCH CASH 2,000 22.0700 44.140 2,000 4.5310 GLIMCHER REALTY TRUST-SBI GRT CASH 2,000 28.2600 56.520 3,846 6.8047 HRPT PROPERTIES TR-SBI HRP CASH 10,000 13.0200 130.200 8,400 6.4516 HOSPITALITY PROPERTIES TRUST HPT CASH 2,000 48.8000 97.600 5,920 6.0656 581 027 CO01/070616 001 V004 EFTA00201127 CLEARED THROUGH ITS vmOuy ORNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT Seal. Reams Secudik4 Goo. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 One Metaled, Conic. North BroStlin. Nov York 11201.3859 STEARNS JEFFREY EPSTEIN 5 ri STATEMENT PERIOD December 30.2006 THROUGH January 31.2007 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER WESER On File LAST STATEMENT December 29.2006 Equities & Options (continued) ACCT MARKET ESTRUM) ESTMATED DESORPTION GROBOUCuSIP TYPE OUAMITY PRICE yALLE ANNUAL INCOME yELD IVT JOHNSON& JOHNSON JNJ CASH 57,800 66.8000 3.861.040 86,700 2.2455 BSC RATING: STOCK Pi/SECTOR MW NED DAVIS RESEARCH RATING: B KIMCO REALTY CORP KIM CASH 98 49.6000 4.861 141 2.9006 BSC RATING: STOCK 0/SECTOR MW GREEN STREET ADVISORS. INC. RATING: S INTS LUCENT TECHNOLOGIES INC LUTHW CASH 235 0.1900 45 EIS 12/10/2007 NAYARIT GOLD INC NYRTF CASH 19 0.6640 13 PENNSYLVANIA REAL ESTATE PEI CASH 1.794 42.7000 76,604 4.090 5.3391 INVESTMENT TRUST-SBI RAMCO GERSHENSON PROPERTIES RPT CASH 12.000 37.4600 449,520 21.480 4.7784 TRUST-MD SBI SIRIUS SATELLITE RADIO INC SIRI CASH 1.000 3.6900 3,690 BSC RATING: STOCK P/SECTOR MW ATLANTIS RESEARCH RATING: Total Equities& Options $4.724,233 $132.577 TOTAL EQUITIES $4.724,233 $132.577 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $208.020 YOUR PRICED PORTFOLIOHOLDINGS $6.147.679 027 CO0110706:I 6 001 V004 EFTA00201128 CLEARED THROUGH ITS IMICU.Y CONNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT 8.9.51eanIS SMASH. Corp Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Cue Metaled, Conic. North Brodryn. New York 11201.3859 STEARNS JEFFREY EPSTEIN 6 th/ STATEMENT PERIOD December 30.2006 THROUGH January 31.2007 Transaction Detail ACCOUNT NUMBER TAXPAYER NJUSER On File DEPOSITS AND WITHDRAWALS LAST STATEMENT December 29.2006 DATE TRANSACTION DESCRP'Cri CEBIT AMOUNT CREDIT AMOUNT 01/05/07 END WIRED MDA# NDS WIRED TO 1.500.000.00 01/10/07 FUNDS REC INDSWIRED TO CITIBANK FROM 838.768.97 MM. 01/11/07 END WIRED NDS WIRED TO 1.000.000.00 01/22,07 FND WIRED IatD F NOS WIRED TO 1.000.000.00 SE ra 01/29/07 FND WIRED MDA ENDSWIRED 10 1.000.000.00 TOTAL $-4,500.000.00 $838.768.97 MONEY FUND ACTIVITY DATE LOOM( TRANS/CT/3k INSCAIPTON SYIAECOJCUSIP ou/Nutv PRICE DEBIT AMOUNT CREDIT AMOUNT 12/30/06 OPENINGBALANCE 5.051.800.21 01/02/07 REINVEST DREYFUS CASH MANAGEMENT-CL A DICA 23.910.27 23.910.27 INSTITUTIONAL SHARES DIVIDEND REINVEST 01/02/07 DIVIDEND DREYFUS CASH MANAGEMENT-CL A CCU 23.910.27 INSTITUTIONAL SHARES AMT INCLUDED IN 2006 - 1099 01/03/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 5.370 1.0000 5,370.00 INSDTUTIONAL SHARES 027 02/01/07D6:18 001 V004 EFTA00201129 CLEARED THROUGH ITS WHOU.Y OMNED SUBSIDIARY OFFICE SERVICING YOUR ACCOUNT SOM. sown secwien CYO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue One Mewled, Conic. North 9roStlfn. Nov York 112014859 STEARNS New YY New York 10179 JEFFREY EPSTEIN 7 STATEMENT PERIOD December 30.2006 THROUGH January 31.2007 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER AUSSER On File MONEY FUND ACTIVITY (continued) LAST STATEMENT December 29.2006 DATE MGVAY TRANSICTIGN DESCRIPT17N SYMECVOUSIP cowry PRICE DEBIT won CREDIT AMOUNT 01/05/07 SOLD DREYFUS CASH MANAGEMENT-CL A DMA -1.500.000 1.0000 1.500.000.00 INSDTUTIONAL SHARES 01/11/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 838.768.97 1.0000 838,768.97 INSDTUTIONAL SHARES 01/11/07 SOLD DREYFUS CASH MANAGEMENT-CL A MCA -1.000.000 1.0000 1.000.000.00 INS11TUTIONAL SHARES 01/16/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 996.88 1.0000 996.88 INSDTUTIONAL SHARES 01/22/07 SOLD DREYFUS CASH MANAGEMENT-CL A DICA -1.000.000 1.0000 1.000.000.00 INSDTUTIONAL SHARES 01/29/07 SOLD DREYFUS CASH MANAGEMENT-CL A MCA -1.000.000 1.0000 1.000.000.00 INSDTUTIONAL SHARES 01/31/07 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 2.600 1.0000 2.600.00 INSDTUTIONAL SHARES 01/31/07 CLOSINGBALANCE 1.423.446.33 TOTAL $671.646.12 $4.523910.27 DIVIDENDS DATE DESORPTION SYMEICIAUSIP OUNNTITY PATE 1S) CENT AMOUNT CREDIT AMOUNT 01/02/07 RAMCO GERSHENSON PROPERTIES RPT 5.370.00 TRUST-MD S81 CASH DIV CN 12000 SHS REC 12/20106 PAY 01/02/07 AMOUNT INCLUDED ON 2006-1099 01/16/07 KIMCO REALTY CORP KIM 98 0.3600 35.28 REC 01/02107 PAY 01/16107 027 02)01/0706:18 001 11004 EFTA00201130 CLEARED THROUGH ITS VOICU.Y OMED SUBIC:1.01v OFFICE SERVICING YOUR ACCOUNT 134181.911ms SOMAIMI CYO. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue One Motrotoch Conk. North Oro:Wm Nov York 112014859 STEARNS New YY New York 10179 JEFFREY EPSTEIN 8 STATEMENT PERIOD December 30.2006 THROUGH January 31.2007 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER ALMMER On Flk DIVIDENDS (continued) LAST STATEMENT D000MDef 29.2006 DATE OESCRETION SYMECUCLISIP OJANTIN RATE IS) DEBIT AMOUNT CREW AMOUNT 01/16/07 GLIMCHER REALTY TRUST-SBI GRT 961.60 CASH DIV ON 2000 SHS REC 12/29/06 PAY 01/1607 AMOUNT INCLUDED ON 2006-1099 01/31/07 FELCOR LODGING TRUST INC FCH 500.00 CASH DIV ON 2000 SHS REC 12/29/06 PAY 01/31/07 AMOUNT NCLUDED ON 2006-1099 01/31/07 HRPT PROPERTIES TR-SBI HRP 2.100.00 CASH DIV ON 10000 SHS REC 12/29/06 PAY 01/31/07 AMOUNT INCLUDED ON 2006-1099 TOTAL $8.966.88 MISCELLANEOUS DVE 1.13DAY TIUNSACTO1 DESCRIPTION DEW AMOUNT CREPT ATADUNT 01/30/07 JOURNAL TO 10.000.000.00 01/30/07 JOURNAL FROM 10,000,000.00 TOTAL $-10.000.000.00 $10,000.000.00 End of Statement 027 OZ01/0706:18 001 V004 EFTA00201131