EFTA01260277

EFTA01260277 Statements SDNYGI,00350972 CONFIDENTIAL EFTA_00223664 CaJNE0 SARONG. 1, 1! OFFICE SERVICING YOUR ACCOUNT INAOLLY CANSO SUSSOANY Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue Mu Moans Seosbcs Cep One MANIAM Ceps WAN 11201.3850 STEARNS 10179 FINANCIAL TRUST CO INC ACCourcr EXECUTIVE GNMA GOVT BONO stArtuncr erreao Oecern5or 1, 2005 VISIT OUR WEBS& yeabearsteams.com 71.0141. Demme 30.2005 What's In This Statement IILull...Iola' I II ACCOANT %ULMER TAXPAVER ILWCCR On file Financial Summary 3 tar STATEMENT November 30.2036 FINANCIAL TRUST CO INC Your Portfolio Holdings 3 CJO JEFFREY EPSTEIN Transaction Detail 4 6100 RED HOOK QUARTER 0 STE B3 ST THOMAS V1 00802 0 Z T E I C Your Portfolio at a Glance Market Value of Your Portfolio If any information regteding in NET CREDn BALANCE 137.909 CSIth 6 6:66.14" $137.909 $137.131 2005 interest. dividends. nascellaneous income. gross proceeds or original Issue NET EQUITY TES PERIOD $137,909 IM Circa mane value disown is required to be reported to the IRS la this lair Unmoor' moan vat NET EQUITY LAST STATEMENT accourx. a Consolidated Form 137.131 1099wa be mailed to you by CHANGE SeaCELOST STATEMENT 778 January 31.200sor a 10425 r There are no 'Stop loss' orders or other pending buy by March 15.2006. or sell open orders on Me for your account. EL6OSEOCIN9- ANGS SINs Ens tansy IS MiSarnulomat Pante pry. IA ral SEM010 as • timemunIN Mama nuts be mood ler yorr non. See men* use b roman Memo., 021 12/31NOSEM03 001 NM* EFTA01260278 MIMEO IwICOON ITS MeV Cate SUMD,Aliv Sam Seen Stones On. iiiteloth Cw NOM 11701402 FINANCIAL TRUST CO INC 2 9, 0 -n STATEMENT BACKER IS PRINTED ON THIS PAGE C rn z -H r VL6OSEOCIN9- ANGS D27 1213NOS<Ctet 001 vein I S IJ La a. EFTA01260279 CLEARED MMON MiCtLv 00M0 SUMMON ['TICE saviCING YOUR ACCOUNT Bear, Stearns & Co. Inc. StairM Mum, Cmp BEAR 383 Madison Avenue New Yak New Yak 10179 One Mermen Came WM 1:251.1ein STEARNS RI/UNCIAL TRUST CO INC 3 a. STAMUM.T ombOO December 1.2005 THROJem DeCeMbee 30.2005 Cash Flow Analysis ACCCma Weft Income Summary Di, mmomEn PaMOt On Me MS Melt WAR To DM U.S. Gott. Bond Int. WT STACMENT MOSenbee 30.2005 OpeningBalance 5137.131.41 0.00 4,718,243.44 Govt. Agency M. 0.00 8.167.659.06 DhidendsArterest 778.08 Corp. Bond Int. 0.00 1,279,184.80 0 Arnourtt Credited 5776.08 Credo Balance int Reverse Rs:Mahar. int 778.06 0.00 12.704.04 1,636,307.17 0 Net Cash Warily CIosiniBelane* 778.08 5137.909.49 Total $778.08 $13,814,098.51 Boni Purenase ka 0.00 6,596,679.06 Repurchase Int. Em. 0.00 -1.761.17179 e l C Cash Balance Summary in Margin onMG 137131.41 cacao 13/909.49 Portfolio Composition Cash/CLIO Emivillent 137.909 Net Cash8alance $137.131.41 S137.909.49 Your Portfolio Total $137,909 Allocation r Your Portfolio Holdings CASH & CASH EQUIVALENTS WACO t$TWAO0 COMM SL6OSEOCIN9- ANGS COMPTai 50.40007159 CtaXtrtt Paa VALUE AMLAL MOW YEW CASH BALMOCE 137.909 TOTAL CASH & CASH EQUIVALENTS $137.909 umamm mites OEM* OM WM* Mb* Wm ersiot .Mat M MM. prang, • dermi non Pe MOM mica vabe of FM MM. 027 1231.0509M COI EFTA01260280 =MID TIROLON IMOLA OWNED SOSSORRY OFFICE SERVICING YOUR ACCOUNT Me. Sans Swain Carp. Bear. Steams A Co. Inc. BEAR 383 Madison Aaanuo ass 10179 Ors laelettoch Crew Math 11201.3859 STEARNS FINANCIAL TRUST CO INC 4 a STATEMENT eeR00 DeCemMr 1, 2005 1NRCOM. CeCenter 30, 2005 WIEN' *LIMO MiconnER Ki....e4R On File µ1r STATERFET Mortenber 30.2005 Your Portfolio Holdings (continued) YOUR PRICEOPORTFOLIOHOLDINGS $137909 0 Transaction Detail ii INTEREST C in Mit 12/01/05 OISCRIPDON AVG DAL 137.131RT 3.288 SMOSITUCUSP 04INTET surf tv 01.41r MOUNT One MOUNT 375.77 021 OFFICE INTEREST 110$ 12130/05 AVG BAL 137.507RT 1397 402.31 021 CIRCE INTEREST 1205 TOTAL $778.08 r End or Statement 9L6OSEOCIN9- ANGS Oil 12/31,050930 001 5499 I IJ S IT) 00 EFTA01260281 O.LOIED /74Accro. ITS CiFICE SERVONG YOUR ACCOUNT *Car OAAID SuISIDWI£ BUR Bear. Steams & Co. Inc. 383 Madison Ammo — Sian Uculties Cap. Ora Statraledi Ora, NON ROMP. Pim 19•1 112/13359 STEARNS ' 0179 FINANCIAL TRUST CO INC ACCOUNT OECUTNE GOMA GOVT BOND STA-£1*7.7 PER= WSW, 1.2005 OUR WEITSITE www.boarsteams.com 1POUGM NCY.Plete 30.2005 What's In This Statement Illml ACCOUNT Anteri2 79.9.999191 *N KR On FM Financial Summary 3 !AST SYNITWOrt OCIcte 31. 2005 FINANCIAL TRUST CO INC Your Portfolio Holdings 3 C./0 JEFFREY EPSTEIN Transaction Detail 4 6100 RED HOOK QUARTER STE 83 ST THOMAS VI 00802 0 m Your Portfolio at a Glance Market Value of Your Portfolio m NETCREDff (MIANCE 137.131 urn a Equiratere 5137.131 /ET FOXY 1x16 PEROD $137.131 NM Arent ina£A1 valw ME Last state-nort's market vales NET MUM LAST STATEMENT 132.001 CITANGC SINCE LAST STATEMENT 5.130 r There are no 'Stop Loss' orders or other pending buy a sell open orders on file for your account. LL6OSEOCIND- ANGS gm snM Is Ice i-forieinoral palAeon *V. II le mine.* At • In *earn TH. ODP199 reld 9.1retanab, yam n*Arde Sea Meru So 02- Iron £/£711. 17* 027 12701/05O7 35 001 1109 I8 11..) 0' EFTA01260282 notcrucai in vO4OLLV CAWED U.1080arr int Sitrs Stashes Co. Ore Ihnotech truer Ppm 11201.3139 21CIAL TRUST CO ISC 2 v z ii STATEMENT BACKER IS PRINTED ON THIS PAGE C in z -H r 8L6OSEOCIND- ANGS 027 12101/00401:2$ 001 I S IJ IJ O EFTA01260283 GLEAAtt illeOuGa OS wmG.LLY OATADD SUMDA.SY OFFICE =MHO YOUR ACCOUNT Beat. Steams & Co. Inc. Bea Stare Semliki Gap. BEAR 383 Maceson Avenue On worata Cam Math N.LA r TIzol.assa STEARNS 10179 FINANCIAL TRUST CO INC d STATBM'a KroGO Welber 1.2005 1NROuan Skatenbe 30.2005 ACCOLsa MAMA INN Cash Flow Analysis Income Summary Tatra NOMA 11115 ete:0 GC PERO* 50210 oat LAST STATE...ENT October 31.2005 OptningBalance 5132.001.23 U.S. Govt. Bond Int. 0.00 4.718.243.44 Go& Agency Int. 0.00 6.167.659.06 DNIdends/Interest 5.130.18 Cap. Bald III 0.00 1.279.184.80 Amount Credited 55.130.18 Credit Balance Int. 5,130.18 11.925.96 Reverse Rep chase bit. 0 0.00 1.636307.17 Net Cash &Why 6130.18 Total 55.130.18 513 813 320.43 z ClosingBalance 5137,131.41 Bond Pwchase Int. 0.00 -6.596.679.06 -n Repurchase Irv- Exp. 0.00 -1.761,173.79 C Cash Balance Summary rn CAGING CLO9NG Portfolio Composition z martin Net Cash Balance 132.001.23 $132.001.23 137.131.41 $137.131.41 CashiCash Equivalent 132131 Your Portfolio Total 5137,131 Allocation r Your Portfolio Holdings CASH & CASH EQUIVALENTS W2X11 (311vATO) _ OCSC*0101 C1 NI SviaLOCCUSA Owner AMC( YAWL MMMI MOW VELD 00 CASH BALANCE 137.131 TOTAL CASH & CASH EQUIVALENTS $137.131 Cash a Equoalenci 103% 6L 60S£00 IN9 ANGS ialo4 Oval) Otto ban. nue, 00.: narnet um Ma .wean perunlapt Sr. IV enout nada nu ot yen' 027 12:V05073f 001 VON I L911700- V.L.43 EFTA01260284 CLEARIO nclarm DS mow? OaD) Sliebtray °MCC SEAMING YOUR ACCOUNT Ow. Sam Sooseei Co Bear. Stearns & Co. Inc BUkIR. 383 MaOsor Avenue, Ole Yeettech Caw Ian lit01•3189 STURNS FINANCIAL TRUST CO INC :,• STATtAtO Pifle00 November 1.2005 beirouGH NOnleter 30.2035 AcCturer nweER TWAvER Nweeel ti li M LAST STAMEN, October 31.2005 Your Portfolio Holdings (continued) YOUR PRICED PORTFOLIOHOLDINGS Transaction Detail ii INTEREST C rn DALE 11/01/05 DESCR111014 AVG SAL 1984.653AT 3.002 021 OTTCE INTEREST 1005 SvveOuri1Sie awmw RATE (%) Gal MOM coRcrt AMOR 5.130.18 TOTAL S&130.18 r STOP 0860SEOCIND- ANGS vets rn 8 IJ IJ IJ EFTA01260285 Was 7NRCASAN n votriav &AWED SulSaMty OFFICE SERVCMG YOUR ACCOUNT Rte. Steams Secant% Cap. Bear. Steams & Co Inc. BEAR aim 383 Mattson Avenue Om IMeacca Cato Neon 1201.3859 STEARNS 10179 FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE GNMA GOVT BONO STATEMENT RITMO 0,20b, I. 2006 VISIT OUR MIME www.tiearsteams.corn THREAAM October 31.2005 ACCCANT .LEADER What's In This Statement I II TAXPAYER MAATIER On Ole LAST STATEMENT *teat., 30, 2005 Financial Summary 3 FINANCIAL TRUST CO INC Your Portfolio Holdings 4 CAO JEFFREY EPSTEIN Transaction Detail 4 6100 RED HOOK QUARTER STE B3 ST THOMAS VI 00802 O z ii 5 Your Portfolio at a Glance Market Value of Your Portfolio m NET CREPT BMANCE 132,001 SI MOMera 3132.00I z NET EQUITY THIS PERIO0 3132.001 One musket value 1114.806 ltlt Suitements Market vita NET EQUITY LAST STATEMENT 114,806 CHANGE SINCE LAST STATEMENT 17.196 r There are no 'Stop Loss• orders or other pending buy or sell open orders on Ale for your account. THOSEOCIND- ANGS slec 'Ns Tim ...rotary ince whenimpai peps, GeV. II b ac< lien0.4 maim tioanat firarom 100.61 be realm" 43, yaMMalt 554 tone Solo 'naiad laftnnibot 027 11.01/05:0134 001 EFTA01260286 c&C ThillOtrai ns WHOLLY °ma PUBSIPWIY Bear.Solins Secunn cup. One ]Haman One, Pot 11201-3559 FINANCIAL TRUST CO INC 2 as 0 -n STATEMENT BACKER IS PRINTED ON THIS PAGE C in z -H r _ Z860S£00 IN9 ANGS on 1110143544 34 C01 VS97 tL9CZZOO- V.L43 EFTA01260287 OSJJTED THROUGH as Maur GOMM SURTNitAfre OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. Mai TRIHrns seams en. BEAR 383 Madison Avenue dissi11201.3859 ou mantes arm awn STEARNS 10179 FINANCIAL TRUST CO INC 3 car CATMINT PFRROG CROW 1.2006 r2ROLCui Octota 31. 2005 Cash Flow Analysis Income Summary ALOOCNT NILASER TATPAYER HURST" On Fl11 MIS reae0 1145 PIR100 122.2 TO DATE U.S. Govt. Bond M. VS, STATEMENT Se01•044( 30.2006 Opening Balance S114,805.20 0.00 4.718.243.44 Goa. Agency Int. 0.00 6.167.659.06 &rarities Seed 119,604,887.50 Cap. Bend Int. 0.00 1.279.184.80 Diriderdshuerest 521.39 0 Miscellaneous 152.754.39 Credit Balance Int Reverse Repurchase Int 521.39 32.231.25 6.795.78 1.636.307.17 0 Amount Credited $119.758.163.28 Total 632.752.64 513.808.190.25 Z T Securities Bought -100.472,656.25 Bond Pu rchase Int. 000 43.596.679.06 Funds Withdrawn Repurchase Ire. E . 0.00 -1.761,173.79 F I 43,185.00 Miscellaneous -19.205.126.00 C in Amount Debited Net Cash Activity 5-119.740.967.25 17.10803 Portfolio Composition CasNCash Equenalent 132.001 C losing Balance 6132.001.23 Your Portfolio Total 5132.031 Allocation r Cash Balance Summary OTERIAG acetic Margin 114.80820 132,001.23 Net Cash Balance $114,905.20 5132.001.23 £8605£00- O19- ANGS Un.a0•4 prime an* 4301 NSA. 446b SN3.1 MI6* •01140, TT, *auto, orange el^ Inn He alloiRe rote TOR e, Tx/ PoR:le 027 11.01,05:00 34 CO, 1197 rn I S b.) b.) -J EFTA01260288 CUMIED !MOAN MS ?MOW OVneip SuSSOWCY OCEICE SERVICING TOUR ACCOUNT sew. laws Sttutit Cat. Sear, Stearns & Co. Inc. Ors ilibcTeen C4fttl NOVI BEAR 383 Matson Avenue 10179 ruotossa STEARNS FINANCIAL TRUST CO INC 0 ✓a STATEMENT erAtco Cotter 1, 2005 TnRONON Ocoee 31.2005 Your Portfolio Holdings ACCOV0 ht.rat TuDAYER *AMA It CASH 8, CASH EQUIVALENTS LAST STAMittr September la 2005 Weal ISTDAMD CURREN, DISCPSMON Svi.400i.0,31P (WM. MCI vAluf AsTal 0c1 YIILD MO CASH BALANCE 132,001 TOTAL CASH & CASH EQUIVALENTS $132,001 0 z YOUR PRICEDRORTFOLIOHOLOINGS $132.001 -n C in Transaction Detail z J INVESTMENT ACTIVITY SITTIDA06 TRADE svhooLcuse aummre DEBIT MOUNT OM AMMO DATE DATE TRAXSACTON ran* 10/13/05 09/1805 BOUGHT FNMA-30YREFNMAIGM 55082592 50.003000 100.32031 50,180,156.25 r SETT.1005 DUE 1001/2035 C6.500% 0987135514099 REF at 2005091657250000 BS 10,1305 09/0705 CANCEL SELL ENMA•30YRIFNMAKTO 55082592 50.000.000 100.62500 50.312.500.00 SETT.1065 WE 1010112035 05.500% 0967797115099 REF * 2005090757170000 IIS AS OF 090705 P8605£00-O19-ANGS 10 cxL PREViOUS SELL or 11A1m.ARia COi 407 EFTA01260289 CLEARED DC0VOI ITS OFFICE SERVICING YOUR ACCOUNT WROu ORMCD LASOURY Bear. Steams & Co. it. BEAR 383 7A3CSon FROMM Coo Son seortMS Cop. Cne Moran Cour Mau 11201.38$9 STEARNS ',ORA York New Y k ' 0179 FINANCJAL TRUST CO INC RTATENEWT PRODO Osumi 1.2005 THROuDi October 31.2005 Transaction Detail (continued) ACCUNT ktAIMR TARRARER MJAKII CO rule INVESTMENT ACTIVITY (continued) µ1T SRATTRENT SeplIff0er 30.2005 SETRII4M Met DAR CMS IIORLOVI CESCUPTON SThEICLCuSP cowry PRICE DUO Awmon 10/13/05 09/15/05 CANCEL BUY ENMA40YR(FMAA)GTO CREW Ammon 5A62592 -50.003.000 100.32031 St-n.1005 50.160.156.25 out 10101/2035 05.500% 0997135514099 REF • 20050916$7250000 BS 0 10/13/05 09/07/05 SOLD AS OF 09/16M5 TO al PREADUS BUY ENMA40YR(RIMMGTD 5A82592 .50.030.000 100.62500 SETT.1005 50.312.500.00 m TO AL Our 10/01/2005 05.500% 0987797115099 REF • 2XS010157- 10000 RS 5.100.472.656.25 $100.472.656.25 ci m DEPOSITS AND WITHDRAWALS DATE TRANSACIOR CEStapuu men mew', CREDIT ARCUO H 10/12/05 END WIRED MOANCI136546FNOSVARED TO 63.185.00 8ANKAMERKA IVTRNAIIONAl AC9520634534 0U276153 TOTAL r S.63.195.00 INTEREST DAN DESOMUNI CREDO AMOUR 10/03/05 AVG BAL 224.631RT 2.785 or OFFICE MEREST 0905 521.39 S8605£00 IND ANGS TOTAL 5521.39 • ss 0934 001 V197 LL9aZOOVia EFTA01260290 CLEARED 11.1,00Ce ITS WPOLLT OPTED SUOSPDART OFFICE SERVICING YOUR ACCOUNT Seer. SPein SeCurtes Seer. Stearns & Co. Inc. BEAR 383 Madison Avenue II. 10179 One Pprmeth Cape /an I 12010459 STEARNS FINANCIAL TRUST CO INC 6 a Surge/HT PIROO October 1.2006 11.40utoi OctObe 31.2005 Transaction Detail (continued) ACCOLArr PAMPA lin TAXPAYER PulaBER REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS LAST STATEuEe Septette 30.2005 with Bear,Steams& Co.inc. WI/ MDR TRADE OAR OAR 111.176CIted OESCAPTKIN STMe3LAT1152P Daum Am MOM C1M011 MODU10 10/14105 JOURNAL ADP CD 8888888 19,100,000.00 FiTM.PR 12633219010 8.625 DUE 12/31/49 2074420692 0 10114105 INTEREST ADP CD FillA 1213192049 9.625 DUE.PR f2633219010 8888888 32.231.25 2074420692 -n TOTAL 519.132.231.25 C MISCELLANEOUS rn OAR UMW 11t1MACTOI DISGRPTON DENT AMOUNT CREDIT AMOUNT 10/06/05 JOURNAL FR OMEN WC 021-5212841 410.64 10/13705 JOURNAL FNM430YRIFNMA)GTO 152,343.75 SET1.10036 5.600 DUE 1001/35 FARS NET 161305 10/17105 JOURNAL FINAL REDEMPTION 19.203.776.00 r 10/21/05 JOURNAL 9/05 SPEC PART 2 CLR FEES 1,350.00 TOTAL 5-19.205,126.00 5152.754.39 98605£00- O19-ANGS End of Statement 027 I TO' OS C.34 001 VINT 8 IJ IJ 00 00 EFTA01260291 awed 11•1 :00Go rni vim= 80040 8098100.1tY OTTCE SERVICNG YDUR ACCOUNT Be, Sturm Sicuules Corp. Bear. Steams & Co. Inc. BEAR 383 Mischsort Avenue MO Coe Medic, Cert." 110111 8508058. Net 'tit 11201.3859 STEARNS 10179 FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE GNMA GOVT BONO 978,85.850 evs00 September 1.2005 VISIT OUR WEBSTTE wmrtearsteamscom 1181M1304 Septernbe. 30.2005 ACCO,A1 %AMBER What's In This Statement IIIIIIIIHIIrllllllnitllll TAxPAyert MAW On rip tAr STATtuE57 &vs( 31. 2006 Financial Summary 3 FINANCIAL TRUST CO INC Your Portfolio Holdings 4 C/10 JEFFREY EPSTEIN Transaction Detail 4 6100 RED HOOK QUARTER Trades Not Yet Settled 36 STE B3 ST THOMAS IA 00802 O z ii C Your Portfolio at a Glance Market Value of Your Portfolio in NuCREDIT BALANCE 114.805 caw ensiotlie114.805 5221.488 z R.$1 $0 NET EQUITY THIS /len= 8114.805 Irceme 13.188,141 NET EQUITY LAST STATEMENT 3.443 744 ant meat woke UM StaffMa MEM Vabe -3.328.938 r CHANGE SINCE MST STATEMENT There are no 'Stop Loss' orders or Other pending buy or sell open orders on file for your account. L8605£00- 019- ANGS nil synne,*15, nbrreicnalMoses ow. 51.50 Kora< s• a tat Oceneit 'In vat men sno0:1 to mined e1yea. teen See men< 44e be eon. islernaelt0 027 10010611 50 oat 1.1196 I8 IJ 15.5 EFTA01260292 ammo 7,001W fiS xliOuv• °ma, SuSSOAKY Sw. Site Winn CO. Dr* Merotecn C— rou YMeln No. VGi 11201.3859 FINANCIAL SI CO INC 2 as 0 z ii STATEMENT BACKER IS PRINTED ON THIS PAGE C in z -H r 88605£00- O19- ANGS 027 lor01,1:0:11 SO CO1 VS96 I S IJ IJ 3o 0 EFTA01260293 [LURES tient rTS OFFICE SERVICING YOuR ACCOUNT WITCLAY ONTID SLIASIDUAN Bert. Stearns & Co. Inc. BEAR 383 Madison Avenue bear. 518n s CNN 0 . < iatrovai Cerny Awn STEARNS • 10179 Moo. Nem T 11201.3859 FINANCIAL TRUST CO INC 3 or STATEMENT TIM0D SesSeribtif 1.2005 TAIRCUGH SectentNN 30, 2005 Cash Flow Analysis Income Summary AftyNtr NoTABER Ins woOD MIS PERO) YEAR 10 CA'', TNOTAVER PSJUSTA On Tie OpeningBalance 5221.487.52 U.S. Got Bond Int- 198.148.87 LAST STATMENT Ai.gust 31.2005 4.718,243 44 Seculties Sold Gun. Agency Int. 775,394.53 6,167,659.06 1,385,266.708.58 Corp. Bond Int. 136.678.49 1.279.184.80 °Wends/Interest 0 Miscellaneous 1,182,572.79 745,735.38 ere& Balance Int. 951.82 6.274.39 0 Reverse Repurchase Ire. 80.288.31 1.604.075.92 Amount Credited 51,387,195,016.75 Total 51,191,462.02 513,775,437.61 Securities Bawd -1,385.814.343.72 Bond Purchase re. -203.722.59 .6,596.679.06 m Thridendsliterest Charged -275,121.67 Nei:ARIUS! Int. bp. -260.593.74 :L761,173.79 NI6CellanCOUS -1,212,233.68 C in Amount Debited Net Cash ActMty S-1.387.301.699.07 -106,682.32 Portfolio Composition CasTgash Equivalent 114,805 ClosingBalance 5114.805.20 Your Portfolio Total $114,805 Allocation r Cash Balance Summary aRald GLOMS Margin 221.487.52 114,805.20 NetCash Balance $221,487.52 5114.805.20 _ Cam & Equva*N- 100% 68605£00 IN9 ANGS PLYI-Ws Wrsa rat/ Vs., 1 ,sint Ne 'key ca reWt•pitsd•••••4 h.,. IY ANAN9 , ne: .0a of v.... MSS, 317 taCiV.1511 SC. OCT "d1,95 I8912700-Vin EFTA01260294 Wain DitooDi nS WHOLLY 000.110 SuSSOWD OFFICE SERVICING YOUR ACCOUNT Bev. Seen Seareen Dep. Sew. Steams 6 Co. Inc. Die Meecteen Como Deli BEAR 383 Mattson Avenue • York 10179 112014459 STEARNS FINANCIAL TRUST CO INC 4 ex SeeeD411/T pt 0O Wend% 1.2005 TeROuGle Sey.embee 30.2005 Your Portfolio Holdings ACCCU•ST evince TAXPAYER NUMICR On 14e CASH 8 CASH EQUIVALENTS /Any STA1Doeig ALIO/ 31.2005 VARett (Snail!) CUSICI0 anent ON 5-0410..CL5le OWN= BALE VALE PenaLAI re001/4 VS1111 (10 CASH MANCE 114,805 C) TOTAL CASH b CASH EQUIVALENTS 4114406 z -n YOUR PRICEDPORTFOLIOHOLDINGS 5114.805 C rn Transaction Detail z INVESTMENT ACTIVITY Sallflert MAX MO NW usturt Crean wawa OAR DOE MeNSACTON CESCSS1113N 51‘4101.10.51P ODOM r 09/01/05 00131115 BOUGHT UMBEL/ STATES TREASURY NOTE CUE 0613112007 04.003% FA 28 09E/8280293099 912028211 18.000,000 Atilt. M. 100,11719 18.021.093.75 1.988.95 YEW 3.93,3 % TO MATURITY OVER REY S 02413243 Al ORIOVOS 09101/05 SOUGHT UNITEDSTATES TREASURY NOTE 912028226 5.000.030 101,70313 5.085.156.25 NEWTS/201S 04,250% FA 15 ACCR. Pit, 10094.02 0988035598099 YIELD COW % TO MATURBY 0660SEOCIN9- ANGS GVER REF * 42442669 Al 09101/05 BOUGHT UNITED STATES TREASURY NOTE 912828283 10200.000 100.49219 10.049.218.75 09/02.05 CUE 06131/2007 04.000% FA 28 AIX* Mt 2,209.94 0988016192099 BEW 1, %TO URITY OVER REF741 *G244387M5AT Al 027 10.0100$1140 001 nen rn I S IJ IJ 30 DO IJ EFTA01260295 Aunt Tilowam rre OFFICE SERVICING YOUR ACCOUNT vitiCtLY litUISOWtY BEAR Bear. Steams A Co. Inc. 383 Madison Avenue ler. Sam Samna On. Cre.lareUch Cernet 185. STEARNS 10179 11201.3850 FINANCIAL TRUST CO INC 5038 STATIEmPir PS1000 Sept.00‘bee 1.2005 11.0100001 Sepwrte 30.2005 Transaction Detail (continued) ACCOJNT INVESTMENT ACTIVITY (continuo:1) TA00.0120 mast); 0,1 fae MST STATERNT Aucust 31 2005 %mama uu44 DAN IW6AC110II coorpras 09/0935 0901/05 Sti.liCAXL5P =WM NEE 0g80 MNAINI BOUGHT UNITED STATES TREASURY NOTE Mgt *MOM DUE 0803T/2007 04.000% FA 28 912828L;3 10.00300 100.55489 10.055.468 .75 0 0988027498099 HE 3,709 % TO MATU EVER REF S G244 3976 AlITY ACCR. INT. 2.209 84 0 09/07835 09/08/05 SOLO UNITED STATES TREASURY NOTE DUE 08/3112007 04000% FA 28 0988280293099 91282$EF3 -10.000,000 100.35158 10.015.158.25 YEW ACM. NT, 7.73481 TO MATINTET GVER REF • G2494731 Al m 0908.05 0907/05 SOW UNITED STATES TREASURY NOTE 9128280(5 DUE 08/15/2015 04.250% FA 15 -5.000.000 101.08250 5.053.125.00 C 0998000592099 Win 4.118 %TOMATt TY GVER REF /02503140 Al ACM. NT. 13.854.70 in 09.08/05 PRINCIPE FEM. HOME EOM PATO CORP•M0109 SERIES 227 CLASS 10 31282YDN6 4.309 5.000 DUE 12.01134 PRINCPAL REDUCTN 09.15-05 09/13/05 09/12/05 SOW UNITED STATES TREASURY NOTE 912828EF3 40.000000 100,17189 CUE 08/31/2007 04.000% FA 28 20.034.375.00 0988018192099 ACCR. M. YIELD 3.908 % TO IMTURRY 28.72829 GVER RN S 02552394 Al r 09/14/05 0903/05 CANCEL SELL DITAA.30111(FNMANTFT SETT.09A36 5/63090 10.000.000 98.20313 9.020,31280 DUE 09/01/2035 05.000% 0397016110099 REF • 2005080357150000 85 AS OF moms TO CA PREVMS SELL can4.05 08131705 BOlDlY TAMA-30YRIPOM25117 9.83090 10.030.000 99.09375 T660SEOCIN9- ANGS SET1.09.1)5 0 9809.375.00 DUE 1/2015 . 09/ 11509905 020% 0987797 REF • 200508315702C:000 8$ 497 Icroint :so on lW rn I S b.) IJ 30 oo EFTA01260296 CLEAREO SPROLan ITS W4OLLY OAAED SVISIDORY OFFICE SERVICING WM ACCOUNT 8a. Steven storms CaT/ Bear. Stearn & Co. Inc. 0, e kletn:OeCh Can 1/70 BEAR 383 Mattoon Avenue 10179 ar i tak 112014639 STEARNS FINANCIAL TRUST CO INC 6 o 36 STS/F3M/rt PI11303 Sep/erten 1.2005 /Wand. September 30.2005 Transaction Detail (continued) ACCCOPO SOWER TAICNOIR wiaiSER Ai Re MST STAITVW AUgial 31.2005 INVESTMENT ACM/RV (0410110ed) SEMMES/ TITAN tOslatts0 0.0.00 PRIX Of&e Al/OUgt atten M401011 C/UP An II1V/SALTON CE500•1100 08111/05 CANCEL SELL FNUA.30VRIIIMAIGTO SA87090 SO.COO.CCO 98.1 5625 49078.125.00 09/14376 SET 09105 C) 011E 09/01/2035 05.000% 0 0987000510099 REF • 2005081157170003 BS AS OF OW 105 M 00. PREVIOUS SELL BOUGHT FNI/A.301110111ANGTD 5483080 50.000.000 96.17188 49.005.937 .50 ii 09)14/06 08/11/05 SETT.09105 CUE 09)01/2035 05.000% 0987280211332 REF • 2035081157230000 BS C 09/14/05 00/17835 CANCEL SELL FNUA-30087111AUGTD SA83090 50.0001330 98.30078 49.150.390.63 in SETT.09/05 DUE 09/01/2035 05.000% 0987016110099 REF • 2005081757260000 BS AS OF 06017/05 TO CA PREVIOUS SELL 03/17/05 BOUGHT FNIAMOVR(MIAUGID SA83090 50.000000 98.313281 49.191.406.25 09/1005 SETT.09/05 CUE 0901/2015 05.000% 0987280211099 RU 12005081757170000 OS r 09114/05 08/19/05 BOUGHT FNIAA-30YR(FH/MGM SETT.09/D5 5883090 50.000.000 98.49319 49.246.0133.75 DUE 09.01/2035 05.000% 0907797115099 REF 12005081957060000 85 08./19/06 CANCEL SELL 0.144-3CAR(FNIA0GTO 5A83090 50.0/0.000 98.55078 49.275.390.63 0971405 SE17.09/05 DUE 0901/2035 06.000% Z660SEOCIA19- ANGS 0987021011099 REF • 20050131957090300 BS AS Of 08/2906 TO CAL PROMOS SELL 027 100006.11:50 001 VIM 8 30 00 EFTA01260297 GLEN.= TIFOLCsi aS OFFICE SERvICING YOUR ACCOUNT nliOLLy 00.420 PALM:RAW BEAR Bear. Steams 8 CO. Inc. 383 Madison Avenue but Swims Stones Cop 3. Metrown C.nI Farm STEARNS v 10179 112014.59 FINANCIAL TRUST CO INC 7 36 STATINNT mew Stanter 1.2005 Tnit0UC+4 Septenter 30.2005 Transaction Detail (continued) ACCOura MAIM TAxPAyEA Male! On Fl. INVESTMENT ACTIVITY (cortinuOTO LAST STATEuerna Augur 31.2005 MADE Oat OATS Trunsacnos °stemma sn.eaLtus• 00/14)05 08/03005 SOW OUSIAITY Pica ONO MCJJT FNMA,3019(Tham)GTD CRICIT 'MOOS, 5.463080 -70,000.000 98.20313 SETT.0905 9.820.312.50 0 DUE 09101/2035 05.000% 0987016110099 REF • 2035080357150000 BS 0 09/14/05 08/31/05 CANCEL BUY FNIA‘30YRIFT•AVOTD SCIT.09/05 SA83080 -10.000.000 99.00375 9,909,375.00 z DUE 0901/2035 05.000% 0987797115099 Kr • 2D35083157020000 BS m AS OF Cal/31 TO 00 PREVIOUS A15 BUY 09/14•35 08/11935 SOW FNIAM30YR(Rau)GT0 5.493090 -50.003.000 98.15825 C SEIT.09/05 49.078.12SM DUE 0901/7035 06.000% in 0887000510099 REF 12005081157170000 B$ z 09/1005 08/11/05 CANCEL BUY FAMt.90YRITIOAACTEI SETT.09/05 DUE 09.01/2035 05.000% 503090 -SO400.1700 90.17188 ••••••••••. 49,085,937.30 09037280211332 REF • 2005081157230000 BS AS OF 08/11/05 TO CXL PREVIOUS BUY r 09/14205 08217/06 SOLD FNIAA-30YINFTAVCID SETT.09/05 DUE 09.01/2035 05.000% 5.483080 -50.000.000 98.30078 49.150.390 1.3 0987016110099 REF • 2005081757260000 BS 09/14/05 08117/06 CANCEL BUY Fratt3OYRIFNLWGTD S/83090 SETT.09/06 40000.003 90.36281 49.791.406.25 DUE 09/01, 2035 MECO% 0987280211099 £660SEOCIN9- ANGS REF • 2005061757170000 BS AS Cf 08/17/05 TO Ca PREVCVS BUY 027 1010146:11•0 001 VSNI I8 IJ IJ 30 oc, EFTA01260298 CLIMES PLIPPLASL ITS PAOLO' ale.1) SIALIOLLAV OFFICE SERMING YOUR MTV /MT Sas. Steam StcuLts. Cap. Sew, Stearns & Co. Inc. Cne M-ucus. Cater Ns* 383 madden Avenue 111014159 • 10179 TEAR SBBNRNS FINANCIAL TRUST CO INC 8 1e STATEMENT PERIOD Seixenter 1.1C05 Seventy 30.2005 Transaction Detail (continued) ACCOula WARR TWAYM spinet On tee LAST STATEMENT /mint 31.2005 INVESTMENT ACTIVITY (continued) SEMMES, :RARE SYNIOucusp ern PRICE DEM AMOUNT Mir Avow DATE DATE TRASSACITOP. DESCRPITON SA83090 40.000.000 98.49219 49,248,093.75 09+1005 08(19/05 CANCEL BUY Fv.u.3011t(FNMAIGTO scn.09M6 C) DUE 0991/2035 05.000% 0987797115099 0 REF 0 2005081957060300 8S AS OF 08/19105 TO DX PREVIOUS BUY 5.493090 -50030000 9055078 49.275.393.83 09/14.05 08/19(05 SOLD FTPAA-30YRITNWSTD -n SETT.09616 DUE 09/01/2035 06.000% 0987021011099 RU • 2005081957090000 BS CANCEL SELL F/00.40YR(1141M)GTO 5143112 1.000000 100.29518 1,002,851.56 C 09/14A)5 06103105 rn SETT.09/476 CUE 09/01/2035 05.500% 0987016110099 REF r 2005080157170DX BS AS OF 08/03/05 TO CAL PREVIOUS SELL FNMA-30YR(FnilleCTD SA83112 50.000.000 100.75781 50.378.908.25 09/14106 09/07/05 BOUGHT SET/.09/05 DUE 09/01/2035 05.500% 0987797115099 REF • 2005090757140000 85 r 09/14105 091171/05 BOUINT int440319/1003810 SETT.09.705 5.483112 50.000000 101.17188 50.585.937.60 DUE 09.01/2035 05.500% 0987016110099 REF r 2005090157020000 8$ ... FR/44-30YRDNIXASTO SA83112 99.800.000 100.26581 99.262.968.75 09/14/05 08103/05 CANCEL SELL SETT.09//05 FAX 09/01/2035 05.500% 0987797115099 V6605£00- O19- ANGS RU r 2005080357193000 8$ AS OF 08/03/05 TO M PREVIOUS SILT. 027 ice,/06:11x0 401 IT1 8 IJ IJ 30 3o EFTA01260299 0.5.0tee neebytte rtS ttemter crome0 SueSetinte OFFICE SZWIC6/6 YOUR ACCOUNT Bea. Steams & Co. Inc. Ow Sore Secultbs Cap. BEAR 383 Madison Avenue Ore tieretece Cane Neel 11201-3852 STEARNS New Y New Ycek 10179 FINANCIAL TRUST CO WC Sax STeretmet KAM September 32005 ThROUGH September 30.2005 Transaction Detail (continued) INVESTMENT ACTIVITY (continued) AcCOutei ttlfWeett TAXPAYER NUIRIER Wet seeineer PIPE &sue 31.2005 St MAIM tb.0( OAR OAR mamma OCSOMOv SYMBOUCLISP OUANIMI PRICE 01011 Matta CREW FROM 09/14.05 08/0105 SOLD nam.3IMTONMAIGTO 543112 ..1,000,000 100.28516 1.002.851.56 C) SETT.09005 DUE 0901/2035 05.500% 0987016110099 REF 12005080357170000 BS 0 09/140(15 0907/05 CANCEL BUY Nam.-30YR(TNIMOGTO SC77.091105 5483112 -50000.000 100.75781 50.378.906.25 z DUE 0901/2035 05.500% 0987797115099 Rif it 2005090757140000 BS m AS Of 09/0705 TO CXL PREVIOUS BUY 0914/05 MOMS CANCEL BUY 17•110.4002R032559020 C SETT.09//05 5153112 40400003 101.17188 50,585,937.50 in Due 0901/2015 05.500% 0987016110008 REF a 2005000157027000 IS z 09(14/05 0603105 SOLD AS OF 09/01/05 MCA PREVIDUS BUY INIA4-30YR(FNMNGTD SET7.091/05 5A83112 49,030.000 103.26563 99.262.968 .75 DUE 0/01/2035 05.550% 0987797115099 REF • 2005080357190000 BS 09/1405 06/15/05 BOUGHT r 004.1,40YRTRA4A)GD) SETT.0905 our 0001(2035 06.000% 6A83154 50.000003 101,96094 50,980,466.75 0987280211099 REF • 2005081557120000 BS MODS 08/23/05 BOUGHT na.0-3039511501610 5183154 50.003.000 102.04668 61,023,437.50 SE17.09/05 DUE 09101/2035 06.000% 0987016110332 REF at 2005082357020000 BS 56605£00- O19- ANGS OAT lox/06.1150 OX I8 b.) IJ 30 oo EFTA01260300 CLEW° NROu000 MS WOOLL 0000.0 94.500.90 OFFICE SERVICING YOUR !ernI INT Ike.Urn SWAMI coo Bear. Stearns 8, Co. Inc. 300130000.000 Cater awn BEAR 383 Madison Ammo d ims 10179 saw 11201.3559 STB\RNS FINANCIAL TRUST CO INC 10 ex strrnerT ;IRO, S0Xteribc• 1.2005 /0430004 SOPIOMIXO 30.21305 Transaction Detail (continued) • V.APSER TAXPAYEJt LL.LeeR On flit NET $10.- 0402 August 31.2005 INVESTMENT ACTIVITY (continued) 5111100170' MAN 0.020120 DM WOW Otlirl 0003051 DAIL 0400 nuxucnON DES46P004 5110001/01550 09.14(05 0B1&135 CANCEL SUE F/4414.30YREFNIFAIGTD SA83154 50.000.000 102.08594 51.042.968 .75 SET(.0905 DUE 09101/2035 06.000% 0987200211099 0 REF 4. 2005081857090000 BS AS OF Colv16/05 TO CXL PREVIOUS SELL OW1005 013/23/05 CANCEL SELL FMAA•30111(FNIANGTO 51.83154 50.03.000 102.00375 51.046.875.00 -n SETT.09t6 DUE 09431/2035 06.000% 0987280211099 REF 50 2005062357140000 BS AS CC 08/23/05 C TO CC. PREVIOUS SELL rn MIMS OW 5/05 CAMEL BUY FHW-30YRIFNMASTO 31.1.09.05 DUE 0901/2035 06.000% 0987280211099 5663154 40.000.000 101.96064 62990.469.75 REF N 2003081557120000 85 AS OF 08/15/05 TOM PREVIOUS BUY 09/14.06 08/23.05 CANCEL BUY F/110.030YR(Fla0IGTO 943154 40.000.003 102.04489 51.023.437.50 SER.09/05 DUE 09/01/2035 06.000% r 0987016110332 REF 2006082357020000 BS AS OF oenvos TO CXL PREVIOUS BUY 08/18.05 SOLD FNI44.307207494113 5483154 40.002000 102243514 51.042.968.75 09/14/05 SETT.09)05 DUE 09.01/2035 06.000% 0987280211099 REF 4. 2005091657090000 BS 9660SEOCIN9- ANGS SOLD 174144-30YRUNAUJG1t1 SA83164 40.020.000 102.09375 51.046.975.00 09/1405 08/23/05 SET1.09106 OUE 09401/2035 06.000% 0987280211099 REF 12005082357140000 BS 027 gLooLmso 001 Vied ril I S b.) La 00 DD ao EFTA01260301 Cialt£0 Tnfairnice ITS Vat/iv OSNW tatnewlY OFFICE SERVICWG YOUR ACCOUNT Bear. Steams 6 Co. Inc. Oen, Sawn Scotian Cat BEAR 383 Madison Avenue an WM* Carter was 11201.3109 STEARNS 11.10 10179 FINANCIAL TRUST CO INC 11 ax STAMM* Pf PICO Siltaritai 1.2005 nom*. Sapient* 30,2005 Transaction Detail (continued) Accouta Man Txparrit MAIM On Fit INVESTMENT ACTIVITY (con6n0746 LAST STATEIMMT Apptat 31, 2005 SETRIEWEin MOE LIATI litualACTAI CESCR0TICH priatittifil• 0011101 msa ECM Mean OEM MOW 09/16/05 09/15/05 SOLD MEM STATES TREASURY Kilt 912828EE6 -20.030.000 100.60938 20,121,875.00 DIE 08/15/2015 04.250% FA 15 C) 0988027496099 HELD 4,174 %TO WHAM OVER REF • 02583645 Al Act M. 73,913.04 0 09116.05 OW15/05 SOW memo STATES TREASURY NOTE DUE oensran 5 04.260% FA 15 0988280293099 912828116 40.000,000 100.80938 /OCR. WI. 20,121,875.03 71913.04 `MO 4174 %NI MATURITY OVER REF a G2583646 Al F I 09/1605 mentos BOUGIN MIND STATES TREASURY NOTE 912828EF3 10.000,000 180.28563 10.026.562.50 CUE 08/31/2007 04.000% FA 28 0988728291099 Al:CR. WT. 17,179.56 C YIELD 3.857 %TO MATURITY rn 09/16606 08/15605 BOUGHT GvER REF a 02583859 Ell WIRED STATES TREASURY NOTE DUE 08/31/200704.000% IA 28 912828EF3 50.001000 ACCR. 60. 10026563 50.132212.50 88.397.79 0988728291099 YEW 3.857 %TO IAMURIIN OVER REF • 02583659 AT 09/16/05 JOURNAL MCA HOME LOAN AEG Cate051011:41 31282YDN6 SRIES 227 C 10 6.E000 DUE 12/0 LASS 1/34 r 09/19.05 09114/05 SOW GOVERNMENT %ATONAL LIM ASSOC SERIES 2034-041 CLASS SE DUE 0920/2030 383740Y55 .14,505.716 5.34375 ACM. WT. 775.132.43 41,956,91 0987126513099 REF S 2005091457200000 BS 01219/05 09/18/05 SOUGHT UNITED STATES TREASURY NM 9128281(6 20.030.000 99.89063 19.978.125.00 CUE 08/15/201504.250% FA 16 09118728291099 ACCR, M. 90.842.39 YIELD 4.263 %TO MATURITY L660SEOCIN9- ANGS OVER RU • 02594475 Al 4.27 1001106.1150 051 YIN I8 b.) IJ 30 oo EFTA01260302 CLEARIO 11.11000. 111 vaCtLY Meal, SulMoly& OFFICE SERVICING YOUR ACCOUNT Mr. Straws Searlief CaP Bear, Steams 8 CO. MC. Of itereach Coln Horn BEAR 383 Madison Ala* NOW Y New York 10179 bed0r. Piet ok 20 38 STEARNS FINANCIAL TRUST CO INC 12 am STATOFENT Pomo SeplecrOer 1.2005 1,4t06,10. Swine.. 30 2005 Transaction Detail (continued) 0.0000,0 ntivelER Tyd.AvER tOue01 On ne INVESTMENT ACTIVITY (continued) .AAT sTATEmart NeS1 31.2005 sETTLEmorr nett art OAR 011.10.10101. 01501•110N smecucts• CFONIITY PRICE otr niant 010)11 AMOUNT 09/2006 09/1605 SOW FEDERAL NATIONAL WC ASSN 3136FAWE6 -18,252.042 79.89063 14,581.670 .75 ERES 329 CLASS PO SSTRIP WE 01/01/2033 0 09/20/05 09/15105 SOW 0987126513099 RU 0 2005091657320030 BS MIME MAE CMOSERIES 2003-13 3139210/02 -23.543.127 9.87500 2.324.6(0.79 S RCR-&O FUR ACCR. NT. 71.262.10 -n DUE 03/25/2033 04.359% 0987021011099 REF • 2005091557240000 85 FEDERAL NATIONAL MEG ASSN 31393C2C6 .11.861.918 6.96875 626.627.47 09=5 OM 5.05 SOLD C SERFS 2003-49 CLASS SW DUE 01/25/2033 03.358% CPA 27.867.10 rn 09/2005 09/15/05 SOLD 0987021011099 REF • 2005091557230000 BS MINE MAE CIAWSERIES 2003-52 313930536 -16.565.865 6.98475 1,154,433.75 KS-VO FUR ACCR. NT. 3%769.14 CIA 07/25/2017 03.458% 0967021011099 REF • 2035091557280000 BS 0912005 OW16/05 SOW FEDERAL NAT)3NN. NIG ASSN 3136FCBC9 -1%328.967 79.76563 15.417.063.44 SERE 346 CUSS 1 r DUE 1101/2033 0987027711099 REF I 2005091667390300 BS 09,20,05 OW15.05 SOLO GOVERNMENT NATIONAL MFG ASSN 3837411787 -44.030.030 11.15625 4,908,750.00 SERIES 2004.5 CLASS PS DUE 02/20/2033 03.340% 0987021011099 REF a 2005091551250030 ftc. OW20/05 09/15/06 930 GOVERNMEM NADA% MEG ASSN 38374F6T8 -23.561.075 6.03125 1.421.027.35 8660SEOCIN9- ANGS SUES 2004-30 CLASS SU WE 02/20/2032 03.590% 0987021011099 REF 0 2005091557260000 BS AD) PR9/EVIOU MONTHS RCM 15/05S TO OE 0 A 021 1001106:1110 001 VON En I S b.) 1,) 0, 8 EFTA01260303 CLEARED THROUOi ITS lAintY aMASO WintanY OFFICE SERVICING YOUR ACCOUNT Beat. Stearns 8. Co. Inc. Oa. Slim Stoats Cow BEAR 383 Madison ATOM* New Ned( .111'N V Che ninth COW Wont T n291.3859 STEARNS 10179 FINANCIAL TRUST CO INC 13 STAIMen nOnt00 inter/in t. 2005 ngWRn September 30.2005 Transaction Detail (continued) ACCOUNT Walt TAXPAYER ASIONER On fie INVESTMENT ACTIVITY (continv01) LAST STATtintrt AuiJSI 31.2006 SI111Lvtia !RAO( art ituemcncoa OISCRIPSOk snOIOUCLeae CILINOrlY FOSE Man nagga CREW Autgln 0920/OS 09/15416 SOW GOVERNMENT WOW% MFG ASSN 383740P15 -14.296.550 4.53125 647.812.46 SERIES 2004.035 CLASS SP WE 12/10/2029 03.690% 0987021011099 0 09/2006 09118105 SOLO REF • 2005091557270000 85 10 AD1 PREVIOUS NMI% FACTOR AS OF 090505 FEDERAL rtAltNAL WO ASSN 3136FC1CO3 -25.900.786 79.29688 20.534497 46 m SERE 152 CUSS 1 DUE 07/01/2004 00.001% 0987027711099 REF • 20350916573%0W BS 09/2005 09/18/05 SOW FEDERAL NATIONAL MG *SDI 31381CLO6 4.757.972 22.67188 1885,596.63 SERIES 353 CLASS 2 m DUE 07/01/2034 05.000% 0987016110099 REF 4/ 2005091657150300 8S ACCRUES ON 1ST. PAYS 01425111 ACCR, NT, 23.111.32 °mos 09116/05 SOW FEOL NOME LOAN 111000RP•S10109 31282YDN6 -27.688,703 23.04188 6.358.334.08 SERFS 227 CLASS 10 H DUE 12/01/2034 06.000% ACCR. M. 72.603.52 0987189412099 REF • 20050916573600% BS 002006 09P15106 SC4D FREDDIE MAC CSOISERIES 2686 313%12118 r 5040 FLTR DUE07/15/2019 03.531% 0987021011099 4,074.610 w 7.28125 Ma PIT. 587.932.59 3.960.82 REF it 2075091157290%0 BS 09/20.05 09115/05 SOW ALTERNATNE LOAN TRUST 12667(666 45,363.036 146313 513.863.31 SERIES 2004-300B CLASS 1.4-8 DUE 0225/2035 01.458% ACCR. NT. 35823.05 0987021011099 REF • 2005091557300000 OS 66605£00 IND ANGS 002005 09116.105 SOW FEDI. HOME LOW MG CORP.510110 3128270P1 .16.271.372 20. 07813 3266.986.53 SEWS 228 CLASS 10 DUE 02/01/2035 06.000% ACCR A PM 51.526.01 0987432119099 REF 0 2005091657370000 8S ACCRUES ON 1ST. PAYS ON 25114 027 100100611,10 COI VMS I 69aZOO-V1.43 EFTA01260304 CLL..310 RIROLCH ne •MIOLLY 01 /40CD SLIMISMAY OFFICE SERVICING 'CUR ACO747711 44.4 04.44 Say, in Cap Boar. Steams & Co. Inc. Ow 1.44inuch Grow Moth BUR 383 Madison Avenue New York. New Tat 10179 mi l 11201.1659 STURNS FINANCIAL TRUST CO INC 14 ai 36 STATEMENT MVOS Seclefribe• 1.2005 THROUGH S.Vernter 30.2005 Transaction Detail (continued) ACCOLIV VuLISER TAXPAYER mirABER On file LAST STATEMENT A4111 31.2005 INVESTMENT ACTIVITY (conttued) fl aw 1RAIX 011E fiendACI10N DIESCRP11011 M.MUS. outman PACE 01611 miCON1 CR0111 61.101.1111 09/20/05 PRINCIPAL GOVEVOADIT NATIONAL LNG ASSN 38374GPJ5 -172.307 SEWS 2004-035 CIASS SP 3.590 DUE 12/2009 PRINCIPAL REMO', 09-20-05 09121105 09/154)5 CANCEL SELL GOvERINENT NATIONAL MTG ASSN 38274FO97 44.000.000 11.15625 4.908.750.00 SERIES 2004-5 CUSS PS WE 02/20/2033 03.160% 0987021011099 -n RU • 2005091557250030 BS OF 10 09/1505 SO 09/2005 TO Cal PREVEUS SELL GOVERNMENT HAMM/ WO ASSN 38374FC437 -44.000.000 11.15525 4.938760.00 09/21/05 09/15/05 SOW C SERIES 2C04-5 CLASS PS DUE 02/2002033 03.160% rn 0987021011099 REF 0 2005091557250000 85 AS OF TD OW15/05 SO 0900/05 AS OF OW15/05 09121106 09/15/05 CANCEL SELL GOVERNIAO41 NATIONAL MFG ASSN 38374F616 23,561.075 803125 1.421.027.35 SERIES 2004-30 CLASS SU DUE 0200/2032 03.410% 0987021011099 REF * 2005091557260000 BS AS OF TD 09/15/05 50092005 r 09/21/05 0905A)5 SOW TO 070 PREVIOUS SELL GOVERSIEW NAllONAL 1116 ASSN SERIES 2024-30 CLASS SU 38374F616 -23.561.075 6.03125 1.421.027 .35 DUE 0200/2032 03A10% 0987021011099 REF a 2005091557260000 BS AS OF TD 09/15A76 SD 09/2005 AS DE 09/15/05 09/21/06 09115105 CANCEL SEAL GOVERNmENT NATIONAL MTG ASSN 38374GPJS 14.298550 853125 647812.46 000TS£00- 019- ANGS SERFS 2004-035 CLASS SP DUE 12/20/2029 03.410% 0987021011099 REF 12005091557270000 BS AS Cf 7D 0905/05 SD 09120/05 TO CIL PREVIOUS SELL On TOOTAlwiso 001 YON 171 I S IJ tO IJ EFTA01260305 Meats 140.444M ITS wnO.Ly 000420 SUSSMAN'? OFFICE SERCH4 YOUR ACCOUNT Bear. Stearns 6 Co. Inc. W. SOUR Steawn Cap. BEAR 383 Madsen Avenue lAeoptecii Wise Nam 11201.3459 STEARNS 10179 FINANCIAL TRUST CO INC 15 c. S- Ansa,r ;IRO, Se1224,TMc 1.200$ ibISMr.4 Sectem.V2 30. 2005 Transaction Detail (continued) Acoate 04614SER TAXPAsER INVESTMENT ACTIVITY (continued) LAST sTATEACN, H.wsz 31.2005 SETTIOADO TWA Dal DATE TRANSACTION OESOWTS211 sin.ISCLCUSP CV.Wrirf PRICE Part SWUM OM MOM 09/21/05 09/1505 SOLD GOVERNMENT MT1ONM. MTG ASSN 393742,1S .14.295.550 4.53125 647.612.46 SERFS 2004-035 CUSS SP DUE 12/20/2029 03.410% 0987021011099 REF * 2035091557270003 BS 0 AS OF ID 09/15/05 SD 092005 AS OF 0&15/05 z OW21105 XXJRNAL FEDERAL MARONE MM ASSN SERIES 200349 CLASS SW 313930206 .1 m 092145 JOURNAL 3.356 DIE 0125/33 FANNIE MM C.10/51RIES 2003-52 ItS44 FUR 313930538 1 3.458 DUE 07/2217 ci m 09/21106 JOURNAL FEDERAL NA11242. MG ASSN SERIES 352 CLASS 1 0.001 DUE 07/01134 3138FCICC9 1 z 099/1105 JOURNAL 201. HOME LOAN MG 6CW/510160 SERIES 227 CUSS 10 31282YDNI5 1 H 5.000 DUE 12/01/34 09/2345 GOVERNMENT NATIONAL LOG ASSN 38374&J5 SERIES 2004-035 CLASS SP 3.410 DUE 122029 r 0928/0.6 PRREPAL ADJUST POSITION FEDERAL RADOM MIS ASSN SERIES 329 CUSS PO 3136fM46 457.764.40 CUE 01/01/33 SERV PRIV 2D0346 P/0 09-25-05 REPO P 6I 20200 092605 PR1NCPAL FEDERAL NADCWAL MEG ASSN 3136FC8C9 582.264.70 SERIES 346 CLASS 1 TOOTSEOCINDANGS DUE 11/0033 PRIM WET 06-05 PIO 09-25-05 REPO Pa I 0.0CCO old Ketnrarnao ore MI6 EFTA01260306 0.EAREO TWOUGH rrli ssmpu.v Onwe0 6LOSCturf CAME SERVICING YOUR ACCOUNT Bev. Means Stoat Co', Ileac Steams & Co. Inc. 0-* lAniann Cow Not. BEAR 383 Madsen Avenue STEARNS Inlinr 01 FINANCIAL TRUST CO INC 16 te STATEmeLT PEAOD September 1.2005 mnoue... September 30.2005 Transaction Detail (continued) AreCorr suglER TAxPAreot rodent On File INVESTMENT ACTIVITY (ccoUnued) LAST STAtinalwr Augat 31.2005 SU11.04741 MAN DATE 1100.10C.N 0(3011.11011 InAIOJCUSIP OUArain PMCE DINT MUM MCA Nell' 09126105 PRINCIPAL TECERAL NATIONAL MTG ASSN 3136FOCC9 209.767.60 SERE 352 CUSS 1 0.001 DUE 07/01/34 PPM RA) 0805 P009-25-05 0 09/21105 PRINCIPAL REPO P 8I 0.0000 FEDERAL NATIONAL MTG ASSN SERIES 352 CUSS 1 3134WCACO 482A65.48 0.001 OUE 07/01/14 -n 09/21/05 09/15/05 CANCEL SW. PAM RID 08-05 PO 09-25-06 REPO P 8I 0.0000 GOVERMAINT NATIONAL MTG ASSN 38374F6T5 23.681.075 803125 1.421.027.35 SERIES 2004-30 CUSS SU C DUE 02/20/2032 03.403% 0987021011099 in REF 20050915250000 85 AS of TO 09/151057SOwaft TO CQ PREVIZAS SELL 09/27/05 COMMDS SOLD GOVERmADIT NATIONAL MTG ASSN 3837416T6 .23.561075 6.03125 1.421.027.37 SERIES 2[04.30 CLASS SU DUE 02/20/2032 03.403% 09037021011099 REF • 2005091557260000 8S AS OT TO 09/15A/6 SD 09/20106 TOP.O.IPREVIOUS MONTHS FACTOR r TOTAL 1452.032.22257 5551.454.219.11 INTEREST DAM DIESCRIP03.4 52.430/20m. OLISRMIT IMT1GA OM T A1101110 ONCel mated 951.82 _ 09/01/05 AVG BAL 424.88ORT 2.601 021 OFFICE INTEREST 0605 09115005 FEW HOME LOAN 1.00 COPPOS10109 3128210/41 5.0000 1.1142.55 SERIES 227 CUSS 10 DUE 12/O112O34 5.000 OITERST PAYMENT 09-15.05 ZOOTS£00 IND ANGS 027 •00006:u20 COI 100 t69EZZOO- V.L43 EFTA01260307 CLEARED neitOuGR RB remetLY 0104D MASORA, OFFICE SERVICING YOUR ACCOUNT eem Stan Scones COO BEAR Beee. Steams a Co. Inc. 383 Madison Avenue Oee venue, Crier Pen 11,01.3159 STEARNS 10179 a FINANCIAL TRUST CO INC STRTEMER, Rena, September 1.2005 neR04.0.8 September 10.2005 Transaction Detail (continued) ACCOcen NO/SPA TAXPAYER wAreft On Fie INTEREST (continue4 .AsT STATDADM 14qme 31,2005 art DESCRSRION SWOODOUSIP Gummi! PATE OR COO AMOLOR CREDO &ROLM 09/15/06 ROL NOME U1421PAIG GORP•SI0109 31282YDN6 5.0030 36.908.18 SERIES 227 CLASS IO DUE 1201/2034 5.000 PR RA 0805 PM 09-15-05 0 oonstos REPO P a I 5,0000 not MAE LOAN MG CORP4610109 SERIES 227 &ASS 10 DUE 12/01/2034 3128210116 5.0000 77.701,85 wr ND 05-05 PIO 5,0005 09-1-05 REPO P a I 500)0 m 050905 FRECCE AMC 0.105ERES 2885 313951288 3.5310 25832.52 5640 FUR C CUE 07f15/2019 5531 INT RA 08-05 PA 09-15-C6 in 09115105 REPO P & I 3,7287 RP. NONE LOAN PAIG CCOPPS10110 SERIES 228 CLASS 10 31282YDP1 5.0030 84,306.97 DUE 1/2015 8 INT R020 e 8-05 PM 09-15- 0005 REPO Pa I 6.0000 09120/05 GOVERNMENT NATIONAL MG ASSN 383741067 3.3400 46,996.76 SERIES 2004-5 CLASS PS DUE 02/20/2033 3.340 r 09120.05 NT RA 08-05 PM 09.20-05 REPO P a I 3.3406 GOVEProaDil NAT1COUL MID ASSN 1837421367 3.3400 73,493.64 SERIES 2004.5 CLASS PS CUE 02/20/2033 3.340 INT 80 08-05 PM 09-2095 REPO P & I 3.3406 09120436 GOVERN/Ma NATIONAL LOG ASS/4 38374F816 3.5900 71,399.01 SERFS 2034-30 CLASS SU £00TS£00- 019- ANGS DUE 02/20/2 2 3.550 INT PM 08-05 03FA 0020.05 REPO P & I 3.5906 027 101)00.11143 001 VIM EFTA01260308 CLEARED tHAOUCH ITS 1•MOU.Y WOAD liu•SOARY arra SERVICING YOUR ACCOUNT Ds. tune Unglues DATA Bear. Stearns & Co. Inc. BEAR 383 hladisco Averte N Y N intry1 •01 79 Ono IMAM.", On Math Nest Yak 11201.3855 STEARNS RNANCiAt TRUST 03 INC 18 ce JITATDOENT mem Septette 1.2006 imam &wt.-t. 30 2005 Transaction Detail (continued) AOCOLPIT MAW T AY tasaDAA On Fie INTEREST (=Word) LAST MAMMAT kips 31, 2005 DAR OLSCRPTION SAIDOUCUSP awn MIt N an NC/N! CREDIT mom 09/20/05 GCNERNMENT NATIONAL MTG ASSN 3837 4/6T5 3.5900 71.39908 SERIES 2004.30 CLASS SU DUE 02/20/2032 3.590 INT RiD CMOS PM 09.20.05 0 09/20.05 REPO P & I 3.5906 GOVERNMENT NATIONAL MTG ASSN SERIES 2004-035 CLASS SP 38374.3P15 3.5900 43293.48 DUE 1240/2029 3 590 -n 09/25/05 INTEREST PAYMENT 09.2045 GOVERNMENT NATIONAL MTG ASSN SERIES 2004.30 CLASS SU 38374F6T5 3.4030 71.399.08 DUE 02/20/2032 3.403 C REV NT FOR 9/20/2005 PO BAD POSITION in 09/25/05 FEDERAL NATIONAL &ITC ASSN SERIES 353 CLASS 2 DUE 07/01/2039 5,000 3136/CID6 5.0000 37.094.87 INT 40 05-05 P/D 09-25-05 REPO P I 5.0000 0940005 GOVERMENT PUTTEE& MG ASSOC 383744755 43.403.95 SERIES 2004-041 CLASS SE OUE 05/20/2030 0.003 FM.4 CR INT FOR 9120/2035 P D r TOTAL S-712081.1 N11,It as REPURCHASEAND REVERSE REPURCHASETRANSACTIONS with Bear, Steams& Doinc. SEITLIDAST MAX VOOTSE00- 019- ANGS DATE DATE TRAXJAIDCAI DISCMPTION SYMEMUCLISIP warm, OWE MUM CAW, AMOUNT 09/01/05 JOURNAL FEDERAL MARONE MEG 1551/ 3136/CICC9 8.058484 5.923.000.90 SEMIS 352 CLASS 1 0.001 DUE 07/01/34 FILM F2133186 AZ TERM REPO AGREEMENT 02) 1001/05:1160 OM YW rn I Sb.) La Ia ,c) EFTA01260309 =JAW TI*OuOm !TS War, Owe tueStuRr OFFICE SERVICING YOUR ACCOUNT Bear. Steams 6 Co. Inc. Szirrts Semon cos. BEAR 383 Madison Avenue 0-t ~meth Cats la ~120141151) STEARNS Y 10179 FINANCIAL TRUST CO INC 19 a, re nanaarra PE9,30 Septerrte 1.2005 roexCMGH September 30.7035 Transaction Detail (continued) ACCOu•ir ~tit ~Ana Wye« On Fie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAIR STATNENT August 31. 2005 laTtuam nva out DAD mu•SACnos otScsunce. SININXICULN. CELIANNEv MIT AMOUR CaOxr moan 09101/05 JOURNAL FEDERAL NA113t4AL MID ASSN 31363131(C9 4.058.484 5.958.000.00 SERIES 352 CUSS 1 0.001 DUE 0701134 FILM F2443351 Al 0 MUMS JOURNAL REPO AGREEMENT FEDERAL RADOM. &LTG Assr< SIRES 352 CLASS 1 3138FC009 8.058.484 5.958.000.00 0.001 DUE 0701/34 -n 090105 JOURNAL RDA F2443351 A2 REPO AGREEMENT FECERAL N400NAL NTG ASSN 3138FOCC9 -8.058.484 5.958.000.00 SERIES 352 CLASS 1 0.001 DUE 0701/34 FM F2443351 .13 rn 050105 JOURNAL REPO AGREEMENT FEDERAL MAIM« MTG ASSN SERIES 353 CLASS 2 3136FCU06 4.902.758 - 500.000.00 .. ••• 5.000 CUE 07/01/34 RIM f 2443351 83 REPO AGREEMENT 09101/05 JOURNAL FEDERAL NA70W1 AUG ASSN 31351=0 4.902.768 1.577.00000 SERIES 353 CUSS 2 5.001) DUE 0701/34 r 09101105 JOURNAL FILM F244335181 REPO AGREEMENT FEDERAL NATIONAL ARG ASSN 3136FC106 5.902.766 1.677.000.00 SERIES 353 CLASS 2 5.000 DUE 0701/34 MIA F244335182 REPO AGREEMENT 09/01.05 JOURNAL FEDERAL rant/I/AL MEG ASSN 313613:L06 8.902.768 1.850.000.00 SERIES 353 CLASS 2 50015£00- IN9- ANCIS 5.000 DUE07O1/34 FM F2133185 82 TERM REPO AGREEMFJJ1 on 1501.06:1140 CM NMI EFTA01260310 aıuw0 Trmuln nı wMpUr o.Tıau susouır OFFICE SERVICING TC& ACW IMT 4m. SMwm STnıeH Cap 8w. Steems & Co. Inc. On. WumıcX CAbX ımm BCflR 383 Ma on Avenue New York. New York 10179 ııtoı.ıMR STEARNS FINANCIAL TRIIST CO INC 20 aa sTATEMe1R PERCO SeR•emter 1.2005 lnapuO+ SeRleateı 30. 200S Transaction Detail (Gontınued) ACCWc1 MM.9ER TAXPAVIA ıAıeEA Onrıe REPURCNASEAND REVERSE REPURCHASETRANSACTTONS (cOrlDrMa ııaT eTAIDıFıaT AuDuR 31.2005 GA ~R ~ 1 MR TUXLCnCN CESD✓mTrM SHMDAIAw OM 1R/ O1M MOUNT cm FMp)4T 09)01/05 JDURNAL FEDLHTXAELOANMGCORPw510109 3126210N6 8.858.010 500.000.00 $ERES 227 CLA$S 0 5.000 DUE 12101F34 FDM F2133316 AZ MW REPO AGREEMENT 09/01/05 lOUNNAL FEOL HOME LOAN MTG CORPwå10109 31282YON6 4858.010 1.706.000.00 SERRES 227 CU155 tl 5.000 WE 12171/34 FIlM 12443349 Al REPO AGREEMENT 09101/05 JOURNAL UNITED STA1E5 1RFASJRY NOlE 912828996 20.000.000 20.225.000.00 F11M F2430998 A2 4.250 DUE 08115/15 TERM REPO AGREEMENT 09.0105 A7URNAL IIMED STAIES TRFASUM M3TE 912626996 10.000.000 20.3$0.003.00 FIIM 12441385 Al 4.250 00E 06/15115 REPO AGREEMAR 09/0N05 RFCENED UNIRD STAIFS iRNSIIRY 1101E 91282/073 50100.000 50.312.600.00 fil 06/31)2007 4.000 4 000 WE 08/31/07 FİIM 12441052 Al RE$AIE AGREEMENT 09/01/06 11ELNERED LNIED STAeE51RFASURY IIDTE 912828113 -08.000.000 68.235.000.00 DUE08/31)2007 4.000 7 p AZ FİfAI~ Di243~000 TERM PESUE AGREEMENT 0910105 MEREST FEDERALN010NALMIGA55H 3138F01C9 19.024.35 SERRES 352 C1AS5 1 oUE0701)2034 0.001 900TS£00 W9 ANOS FRM 12133188 AZ REPO RPIER6T On NTEREST FEDERAL NARM IA MIG ASSN 3138FCID6 &942.10 SERIS 353 CLASS 2 FFRÎ 01A2133188 62 ~ REPO INTEREST 027 10e1.9k11X0 001 XN4 EFTA01260311 cuftAvo AoICAOH Rs Ataxy Ovn-CO StAsSOARY OFFICE SERVICING YOUR ACCOMT Bear. Stearns & Co. Inc. an,. SlArtn$ Swats C, BEAR 383 Madison Avenue 0. kotectsa, Ewan hot Eros*, Am Vas 11V01.3830 STEARNS rk 10179 FINANCIAL TRUST CO INC 21 ex STATEWL, Cr 'MOO SepterilDer t, 2005 ThROUGM Sep:tenor 30.2005 Transaction Detail (continued) ACCOU41 sLenin TAXPAYER NIAAKR On Fie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEWPC Awn 31.2005 WADANT MOE DATE DATE 15404AM:04 Of SCRPTION SYLIKAtUSIT COUMTY Ofen MCW(T CA£DIT MOW 09/01:05 MEREST FEM. AWE LOAN NIG COMPS10109 3,282YCN6 1.605.97 SERES 227 CLASS 10 WE 12/0112034 5000 HIM 12133316 AZ REPO INTEREST O 0001/05 INTEREST LAVED STATES TREASURY NOTE 912828EE6 1.797.78 WE 08/15/2015 4.250 ITEM 12430996 AZ REPO INTEREST -n 03/91,05 INTEREST UNITED STATES TREASURY NOTE DUE 0813112007 F2431000 AZ 4.000 912628E13 6.294.63 C FRIA RESALE MEREST in 09102105 KURNAL UATTED STATES TREASURY NOTE FDA 12441385 A2 4.250 DUE 08/1915 TERM REPO AGREEMENT 912828EE6 20.0[4000 204.50.060.00 ..... . - ... 09/0205 JOUTOLV. UNITED STATES TREASURY NOTE MU F2450705 Al 9128281£6 .25.0CA000 iiielaso.ce 4.250 DUE 08/15f15 REPO a C9/02/06 RECENED UNITED STATES TREASURY NOTE 912828EF3 30001),C00 30.225.000.0) DUE 08/31,2007 4.005 r 4.003 DUE 06/31107 Erna 12450707 Al RESALE AGREEMDff 09.102105 DELIVERED UNITED STATES IREASURY NOTE 91213281,3 40.000.000 DUE 06/31/2007 60.312.500.00 4.000 4.000 DUE 08/31107 Film F2441052 A2 TERM RESALE AGRIEDAENT mato LOOTSEOCIA19- ANGS ORIDEXIS INTEREST STATES TREASURY NOTE 912828(16 1.825.85 RUE 06/15/2015 4.250 FIN F2441385 102 REPO INTEREST 02? 1001106411A0 001 tAw IT1 IJ La EFTA01260312 CLAM= net01.04 ITS 3,44Cur CCDw• meows OFFICE SERVICING YOUR ACCOUNT Sr. Sian Swann Cap. Bear. Steams & Co. Inc. BEAR 383 Madison Aitnue Ors Minesen Cent North II 2014859 STEARNS 0179 FINANCIAL TRUST CO INC 22 or 34 STATEWEnt PER300 September 1. 2005 1100u0,1 Sep/tote 30.2005 Transaction Detail (continued) AO:Cur %Amen. UM TAXPAYER mama REPURCHASE AND REVERSE REPURCHASETRANSACTIONS (continued) WT 874TOJENT August 31.2006 Sin0.03rt TRADE dR bet TIMMACTIY4 OLSCRIPION SYNOCVCUSP COMITY Mr *CUM CR500 mow 09(02)05 INTEREST UNTIED STATES TREASURY NOTE 912828EF3 4.500.17 DUE 08/310037 4.000 FDA F2441052 A2 C) RESALE INTEREST 0906/05 JOURNAL FEDERAL NATMNAL MTG ASSN 3136FC802 19.911.211 14.274.000.00 SERIES 346 CLASS 1 DUE 11/01/33 FITM 52243262 C2 -n Um REPO AGREEMENT 09/06/05 MURNAL FEDERAL NATIONAL MTG ASSN 313610509 49,911211 14,856,000.00 SERIES 346 CLASS 1 DUE 11/11/33 C FEN 52493258 Al REPO AGREEMENT in 09/06105 DMEREST FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 CUE 11/01/2033 0.000 3136F03C9 37.370,12 FITM F2243262 C2 REPO MEREST 09/07/05 DELIVERED UNITED STATES TREASURY NOTE 9126003 -30.003.000 30.225.000.00 DUE 06/31/2C07 4.030 4.000 DUE 08/31/07 SITU 52450707 A2 r 0907/05 RECINED TERM RESALE AGREEMENT UNITED STATES TREASURY NOTE 00/31/2007 /074.050 912828153 40.000030 40.300.000.00 DUEA.050 DUE 0801 FRIA 52500896 Al RESALE AGREEMENT 09107/05 MEREST UMTED STATES TREASURY ROLE 912828EF3 13.500.50 DUE 0813112007 4.000 WM 52450707 A2 800TSEOCIND- ANGS RESALE RIMIEST OD/0MM COMML INKED STATES TREASURY NOTE 912828E18 -20.030.000 20.175.000.00 FITM 52510800 Al 4.250 CUE OM/TS REPO AGREDAENT icsoueerril0 OD1 wee 8 IJ 8 EFTA01260313 CLEARED 114ROLOR Rs ADOLLY OWNED SJSSOMV OFFICE SERVICING YOUR ACCCANT Bear. Stearns & Co. Inc. Sew. WATS Sec.ten Cap BEAR 383 Madison AYeTUO 0-t UtErcneth Cana /lel. i.hr. T 21201//59 STEARNS 10179 pNANCIAL y% TRUST CO INC 23 on. STAT11.14T PERIOD Septerrb, 1.2006 THROMAI Septeata 30.2005 Transaction Detail (continued) Aftnea NURSER TAXPAYER ICIER CD FY REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STAIZIADIT SKIS 31.2005 SETRDEDR TEAM DAR OW 1RANSACSOM DISCRIP1X114 ETIABOUEUSIP DOLMAN 00111 MEWL CREW MOOR 090805 JOURNAL UTOTED STATES TREASURY NOTE 91282BEE6 25.000.000 25.468.750.00 MIA F2450705 A2 4.250 DUE 08/15/15 C) TERM REPO AGREEMENT 0 0908AM INTEREST UNITED STATES TREASURY NOTE DUE08/15/2015 MIA F2450706 A2 4.250 912828EE6 12.076.43 REPO INTEREST -n 0911205 JOURNAL FEDERAL NATIONAL MEG ASSN SERIES 329 CUSS PC CUE 01/01/33 3136FAWEI5 .10.262.042 13,360,003.00 STRIP C HIM F2553201 01 REPO AGREEMENT rn 09112)05 JOURNAL FEDERAL NATIONAL MTGASSN SERFS 329 CLASS PO WE 0101/33 3136FMVE6 18.252012 13.401.000.00 STRIP AIM F2243262 Di TERM REPO AGREEMENT 09/1205 JOURNAL FANNIE WE MO/SERIES 2003-13 31392JON2 23.543.127 S RCR4/0 FLTR 4.358 WE 03.025/33 r 09/1205 JOURNAL BIM F2103201 Ai TERM REPO AGREEMENT FANNIE WE CMG/SERIES 2003.13 31392J0K2 -23.543.127 1.775.000.00 S RCR.14) FIR 4.358 DUE 03/25/33 tine F2553380 Al REPO AGREEMENT 09/12/05 JOURN.0. FEDERAL NATIONAL MEG ASSN 3136FC8C9 -19.328.957 14.132.000.00 600TSEOCIA19- ANGS SERFS 346 CUSS I DUE 11)01)33 FTDA F2563199 Al REPO AGREEMENT 027 1001/0$01:81) 001 YOM 8 IL) O EFTA01260314 CLUMP TEMOUGH ITS VIROILY O",c SUBSIDIRRY OFFICE SERVICING YOUR ACCOUNT Beer. Steams S. Co Inc. ism. Sewn Scones CaT BBNR 393 Madsen Avenue O. Winn Cats ,1011 11211.1459 STEARNS 10179 FINANCIAL TRUST CO INC 24 ox STATP.en cf.A,00 September 1.2005 neipni September 30. 2005 Transaction Detail (continued) ACCOUNT Waft TAXPAYER Nan* On Ho REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATE. ier Sup& 31.2005 SETTLE1100 TRADE DUE DATE TRUISACDON oESCSPDON SINSIOLRUSO CUOMO 01&1 AWOUNI CREDIT AMCOR' 09/12/05 JOURTIAL FEDERAL toineout MTG ASSN 3136FO3C9 19.328.957 t4.856400 .00 SERIES 346 CLASS 1 CUE 11/01/33 MIA 12493258 AZ TERM REPO AGREEMENT 09/12/06 JOUIDIAL FEOL HONE LOW MTG CORBPS10109 31282D)N6 -18.392.469 3.667.000.00 SERIES 227 CUSS 13 5.000 DUE 12/01/34 -n nnA 12553201 Al REPO AGREEMENT 09/12/06 JOURNAL ?Mt NOME LOAN MTG CORP0S10104) 31282YDIM 18.392.469 3.938.000.00 SERIES 227 CUSS 10 C 5.030 DUE 12/01/34 1194 12243282 62 in 09t1M5 JOURNAL TERM REPO AGREEMENT nix HOME LOAN tau ONI00510110 SIRES 228 CLASS 10 31282Y0P1 .16471.372 2.777.000.00 6.OC0 DUE 02401(35 RIM 12553201 B1 REPO AGREEMENT 09f17405 JOURNAL FEM. HOW LOAN MTG CORPRS10110 31282YOP1 16471.372 3.124.000.00 SERIES 228 CLASS ICI 6.000 DUE O2/01/35 HIM 12243262 AZ r 09(12/06 MEREST TERM REPO AGREEMENT FEDERAL NATENAL MTG ASSN 3138UWEB 43.604.86 STRIP ERIES 329 CUSS PO DUE 01/11/2013 0.000 FIlM F2243262 DZ REPO INTEREST 09/12/05 MEREST FEDERAL NAI13NAL MTG ASSN 3136FC8C9 9.334.52 OTOTS£00-019-ANGS SERIES 346 CLASS 1 DUE 1141/2033 0.000 FEU 1249325$ AZ REPO MEREST 027 1001105:1140 031 NOS rn 8 IJ V.) a IJ EFTA01260315 eLeARQD ra vma.Ly 0A•E0 SueSetAay OFFICE SERVICNG YOUR ACCOUNT Elem. Slams & Co. Inc. am. ken Sicm.es Gem. BEAR 383 MeeksOn Avenue Cm kketerech Cemy Nee, r 11201-3859 STEARNS FINANCIAL TRUST CO INC 25 e•14 sTareiteNT meCo September 1. 2005 'mecum September 30. 2COS Transaction Detail (continued) ACCOtalt Pala tAx9AVM anal On Ha REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (ccinnued) LAST STATEMENT Map* 31.200S SETItDAENT nal DAN DAN MANS6C11011 OCSOZPTWI Sn.61CLCI,Sie am= 0(511 ~al Ca /MONT 09/12/05 WREST FEU FOE LOAN MIS CORP4S10109 31282YDN6 12 784.28 SERIES 227 CLASS 0 DUE 12/0112034 5.000 FM.1 F2243252 BL REPO INTEREST 0 09/12/05 MEREST Mt 11014 LOAN MIG CORP/410110 MRCS 228 CUSS ID 3128219P1 10.141.72 DUE 02/0112035 6.000 FIN F2243262 A.2 REPO INTEREST F I 09/13/05 JOURNAL FREDOIE AMC CMOISEMS 2886 3139512148 6.249.152 SC-VO FUR 3.728 DUE 07/15/19 Fnm F2413293 fl m 09/13(05 JOURNAL TERM REPO AGREEMENT FREDDIE MAC CMO/SLNES 2996 SC-60 FUR 3139512118 4.249.152 44400403 3.728 DUE 07/15/19 nru F2563153 AT REPO AGREEMENT 09t13.105 DEMERED UNITED STATES TREASURY NOTE 91282863 -40.001000 40.300.020.00 DUE 08/31/2007 4.000 4.00 DUE 08/31/07 r 014I3Ø RECENED MU F2500595 A2 TERM RESALE AGREEMENT UNTIED STATES TREASURY NOTE 91282473 50.000.003 60.375.00.0 01(08/31/2007 4.000 4.000 DUE 08/31)07 FUN F2550407 Al RESALE AGREEMENT 003/05 *mew UNITED STATES TREASURY NOTE 912628EF3 21.258.25 DUE08/31/2007 TIOTS£00- IA19- ANGS 4.000 WM F2506895 4.2 RESALE MEREST 027 samiali Tie OM 1866 La I 8 IJ 1, ) 0 EFTA01260316 CUM1/0 intent. ris //rOuY c~GD Imase/ARY OFFICE SERvICING MUR ACCOUNT ha.51tJ'n k•nmes Ø. Bar. Steams 8 Co. Inc. Or* Veve, fmlay VM% BERR 383 Medium AY011/10 STMRNS søms 10119 FINANCIAL TRUST CO INC 26 VM/vev remco Septerbee 1.2005 mikamm SeVenter 3D,2005 Transaction Detail (continued) ACCO-N1 rouebt ~vi ~date REPURCHASEAND REVERSE REPURCHASETRANSACTIONS Soentemec0 LAst rarnen .40.51 31.2005 St11111.0rt MMX OM/ DATT muessocet ottclemat SY1.03UOM ~Ty man maten erne $M0u/i7 09114/06 Mette. MANE NK CMOSERJES 2003.52 313930538 9.276.884 458.000.00 ILS-90 FLTR 3,458 DUE 0785117 EMA F2273375 AZ TERM REPO AGREEMENT 09r14/05 JOURNAI. FANTE ANE 040/5ERIES 200142 313930538 4.276 884 478440.00 ICS-VO FUR Z 3.458 OUE 07125117 FIN F2573068 Al m 09114706 IFMMT REPO AGKEMEM EMNE LUE CAIOISERIES 2003-52 31393CS» 1,442.70 ItS40 FLTR DUE07/25/2017 3.458 FRIA F2273375 A2 m 00e15.05 JOURNAL REPO NTEREST FAMNE MAE ~SEKS 2003-52 313930538 7.288980 184.080.03 Z 7S40 FUR 3458 DUE 07/25/17 FITM F2273445 A2 TERM REPO AGREEMENT 0911905 PITEKST FAMNE MAE CMOISERIES 2003-52 31393C$38 1.249,92 KS40 FUR CUE 07/25J2017 3.458 r 09ile.05 JOURNAL FITM F2273445 12 REPO ?<TEKST MOE MAE CROSERES 200342 31393C538 -0.278.884 KS40 FLTR 3.458 DUE 07/25/17 EMA F2593219 Al REPO AGREEMENT 09/18105 JOURNAL FANNIE ANE CmCeSERIES 200342 313930538 4.288.980 373.000.00 ItS40 FLTR ZIOTS£00- IN9- ANGS 3.458 ME 07/25,117 FM F2593195 Al REPO AGREEMENT 027 1001.05c/1:50 001 5.115 m 8 IJ IJ EFTA01260317 OsAitED TRAY"(-6 re vniCALY CAMEO EMPAIDtOrt OFFICE SERVICRE YOUR ACCOUNT Bear, Steams 6 Co. Inc. ftes. Steams SeoneS Cop. BEAR 383 macilon Avenue Cry PAeraccn Cerny Math our 101" 11201.38SO STEARNS EINANEVE TRUST CO INC 27 ate STATTAWIT nom SesemooF 1.2005 TTRCAKIN Saseenoet 30.2005 Transaction Detail (continued) ACV.,41 MAIN TAXPAYER POJAIAM MI REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continum0 LAST STATEIRAIT Algal 71.2005 StITLEMPIT num DMTI an TR.FiSAC105 011tISMK01 SYM90U0.5.0. Daum 01811 AMC NT MDR kla7a1 09/1605 JOURNAL Oda 641E CVO/SERIES 200352 31393c331 9.278.884 478.000.00 l(S40 FUR 3,458 DUE 07/25)17 FITIA F2573068 A2 0 09018/05 JOURNAL TERM REPO AGREEMENT FREME MAC 0•10/SERIES NOS 5410 ELTR 31395)2118 .8.074.610 3,531 OM 07/15/19 FITM F2593227 Al REPO AGREEMENT E I 09116105 JOURNAL ENDUE MAC CMYSERES 2853 3139512248 8.071.810 444.030.00 SC40 FUR °nuns C 3.531 DUE MA F2563153 A2 in 095/18105 REMO) TERM REPO AGREEMENT wino STATES TREASURY NOTE 08/15/2015 4.250 912828MIS 20401000 20.17540040 4,250 DUE 08/15/15 FilM F2590781 Al RESALE AGREEMENT 09/18/05 JOURNAL UNITED STATES TRUSURY NOTE 912))28EE6 20400,030 20,175,000.00 FITM F2510890 A2 4.25000E 08/15/15 r 99/16105 CELNERED TERM REPO AGREEMENT (NEED STATES TREASURY TONE DUE 09/31/2007 4.000 912828(ES -60400.1330 80.375.000.00 4.000 DUE 08/31/07 UM F2580407 A2 TWA RESALE AGREEMENT 0911605 MEREST WORE MM CMOSERES 200342 3139353e 106.43 I(540 FLU DIE 07/25/2017 3.458 ETOTS£00- 019- ANGS MA F2573088 A2 REPO MEREST 027 1001.06:11,50 001 11666 8 IJ IJ -a 0 Lel EFTA01260318 CUM= 118301.411N8 11.1010 OVOND SLIISOVAY OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. Peet suns Sutton coo BEAR 383 1•1601011 AMIGO cm urreese crow 11018 11201480 STEARNS 10179 Im ST CO INC 28 der STATENE0 A18/00 50INTAN 1.2005 TWONJOH Septerostr 30.2005 Transaction Detail (continued) AOCCIAT M.MMIt TROMW.II NNW On le REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) tar ilTATEVOR ALVA 31.2005 sumer MAO( DATE alt INVISACIION MOUTON snowarso Commie mar AIJOVM GRECO MOUM 09/16115 INTEREST FRECCIE MAC 040/SERIES 2885 31395/2148 146.89 SE-Y0 FLTR DUE 07/1S/2019 3.531 C) MA F2583153 202 0 091806 MEREST REPO MEREST UNITED STATES TREASURY NOTE DUE 081S/2015 4.250 912928EE6 3.155.15 mu F2510890 A2 -n REPO MEREST 0991605 INTEREST (SITED STATES TREASURY Ica 912828EF3 18583.33 DUE 4.000 (BM ( 08/321/200707 5804 A2 C RESALE INTEREST in 09119105 JOURNAL GOWRIWAD/T NATIONAL 1410 ASSN SERIFS 2004.30 CLASS SU 3,590 CUE 02/2092 FRIA F2823288 Al 393747618 -23.881.868 2079,030.03 REPO AGREEMENT fe06 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38370678 23.861.865 1.218.00.00 SERIES 2004-30 CUSS SU 3.590 DOE 02/20/32 ERA F2303215 AZ TERM REPO AGREEMENT r 001505 JOURNAL FEDERAL 141110/4.41 MEG ASSN SIRES 352 CUSS 1 0.001 DUE 07/01/34 3136ECKC9 -18.032048 12.922030.00 FITM F2823190 Al REPO AGREEMENT 09119/0S JOURNAL FEDERAL NA113t04 MTG ASSN 313=929 18.052048 13.289.000.00 SERIES 352 MSS 1 0.001 CUE 07101/34 FTTM E2303182 AZ VTOTS£00- 019- ANGS TERM REPO AGREEMENT 09119106 DELIVERED UNITED STATES TREASURY NOTE 912828EE6 -20.000.003 20,175,000.00 DUE 08152015 4.250 4.250 WE 08/1S/15 ATM F2590781 A2 TERM RESALE AGREEMENT 027 1601.W:M:t0 COT rn 8 IJ IJ EFTA01260319 CLEARED /1410..CH RS viliCtLY °AHD SVISIDARY OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Mc. Oar Seen SEWERS co.P BEAR 383 Madison Avenue DM Meta°. Ceti" *CM b Mew Yen 11201.380 STEARNS 10179 FINANCIAL TRUST CO INC 29 e SIMI-WENT /MOO 5•XeMbEf 1.2005 11.60JCH SeXeMbe 30. 2035 Transaction Detail (continued) ACCOAT ..I.PABER TAXPAYER Wag* On Fie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT AUgUlt 31.2005 SEITLEWla MIX DATE DAZE MANS/CnON DESCSIPIX.1 SVICSOL/CuS• Otwerry DOM MOAT CRUM WOUIll 09/19/05 MEREST GOVERNAOR NATIONAL LOG ASSN 38374F6T6 4,118.19 SERAS 2004-30 CLASS SU DUE 02/20/2032 3.590 Him F2303215 AZ 0 09/19.005 INTEREST REPO MEREST MEM NATIONAL MTG /SAN SEWS 352 CUSS 1 3136FENC9 45.005.41 DUE 07/01/2034 owl -n 0911905 INTEREST nut F2303162 AZ REPO INTEREST UNITED SEATO 1RFASuM NOTE 912921916 4,573.03 ME 08/15/2015 4,250 FRU F2590781 A2 C RESALE INTEREST in 09/2005 JOURNAL FEDERAL NATIONAL WIG ASSN SERIES 329 CLASS PO DUE 01/01/33 3136“1146 18,252.042 13.36000040 STRIP FIRM F2553201 C2 TERM REPO ACREEIMAIT 09/20105 JOURNAL FANNIE AUX C3.10/5FRIES 2003-13 313921062 23,543.127 1,775,030.00 S Rat-VO FIN 4,358 DUE 03/2933 r 09120/05 JOURNAL FMA F2553300 A2 TERM REPO AGREEMENT FANIIR MAE GAINSERES 2003.52 313930538 9,276.884 ILS4I0 FLTR 3,458 DUE 07/25/17 WM F2593219 .42 TERM REPO AGREEMENT 0012005 MURIA. FAN* MAE CMO/SER1ES 2003.52 313930538 7,28/3.980 373.000.00 KS-10 FLTR STOTS£00- 019- ANGS 3.458 DUE 07/25/17 AMA F2593195 A2 TERM REPO AGREEMENT 02? 1001X6:11:50 CO1 YOS4 En I8 IJ n.) a EFTA01260320 0.0otC0 ?MOAK n orn0 SUSYWay OFFICE SERVCING YOUR ACCOUNT Bey. Saws Swint Co vat, Steams & Co. Inc. BEAR 383 Madson Avenue mai 10179 Ow *mach Cow nn ma rt 11701O659 STEARNS FINANCIAL TRUST CO ROC 30 ram STATEwEn SOt00 intone 1. 2005 memo. September 30.2[05 Transaction Detail (continued) cnun NowfoR womYER AMMER On rat REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) Lai rAnwort Aiwa 31.2035 Smumein mune OAT( OAT( liwiSACMN 00100,000. SvueOuCuSe OUMIMY Dan MOM Mori miOura 09/20005 JOURNAL FEDERAL NATIONAL MG ASSN 3136/C809 19.328.957 14.132.000.00 SERIES 348 CLASS 1 DUE 11/01/33 FITM F2553198 A2 0 JOURNAL TERM REPO AGREEMDIT GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CUSS PS 38376087 28.400.000 3340 CUE 02/20/33 -n 09/2005 JOURNAL FMA F2383190 A2 TERM REPO AGREEMENT GOLERNMEM NA110/M. WC ASSN 38374F087 17.600.000 SEWS 2004-5 CLASS PS C S340 DUE 02(20/33 FTTMARGN F0353211 0.2 in 09/20/05 JOURNAL TERM REPO AGREEMENT GOVERNMENT RADOM. INTO ASSN SERIES 2034-30 CUSS SU 38374F615 23.561,075 1.079.000,00 3.590 DUE 02/20/32 FTIM F2623288 A2 TERM REPO AGREEMENT 09/20105 JOURNAL FEDERAL NATIONAL JAMMU 3136TOIC9 7.848.716 5,958,030.00 SERIES 332 CLASS 1 0.001 DUE 0701/34 r 09/2005 JOURNAL FITM F2443351 A4 TERM REPO AGREEMENT FEDERAL NAT ONAL ATM ASSN 3136F0(C9 18.052.048 12.922.000.00 SIRES 352 CLASS 1 0.001 DUE 0701/34 ram F2623190 A2 TERM REPO AGREEMENT 09/20105 JOURNAL FEDERAL NATIONAL ISM ASSN 3136FCLO6 8.757.972 500.000.00 SERES 353 MASS 2 9TOTS£00- 019- ANGS 5.000 DUE 0740/34 FITM F244335104 TERM REPO AGREELEM 027 10010301:110 031 rn 8 IJ IJ 000 00 EFTA01260321 =ABED 711/40a0n Cl, VeteOur BAN suntroy OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 6 Co. Inc. Bea 9GMM Setzttes Ca. BEAR 383 Madison Avenue Crie Aettraeth Beene Math 11201.3859 STEARNS ork 10179 FINANCIAL TRUST CO INC 31 ON STarneNT Puna September 1.2005 THROJOH Sexember 30.2005 Transaction Detail (continued) ACCCW, makeseR 1/Ocean. Lama On Fie REPURCHASEAND REVERSE REPURCHASETRANSACTIONS (continued) LAST STATFUELer Augutt 31.2005 Sa111/11(14T 0Alt OATS 1Mx43410e OESCraveorr SYLISCUCUSS. OULATTV DEW MOM CRUX /MOW 0912005 JOURNAL FEDI HOME LOAN LOG CORPeS10108 31282YON6 8.736.422 1.706000.00 SUES 227 CLASS 10 5.000 DUE 12)01/34 RBA 12443349 A2 TERM REPO AGREEMENT 0912005 JOURNAL FECI. HOME LOAN rATG CORP•S1010) 312921=6 19.392.469 3.667.000.00 SOILS 227 CUSS 10 5.000 DOE 12101/34 -n 09/2005 JOURNAL SITU 52553201 A2 TERM REPO AGREEMENT FREOCE MAC 0,10/SEMES 2886 31395)2148 8.074.610 SC-10 FLTR C 3.531 DUE 07/15119 FM 52593221 A2 rn 09/2005 StIRNAL TERM REPO AGREEMENT FEN HOME LOAN LIM CO99,510110 SERIES 228 CLASS I) 31282=1 16,271,372 2.777.000.00 6.000 DUE 02101/35 FITLI 52553201 82 TERM REPO AGREEMENT 09/2005 JOURNAL ADP CD FIN&PR 52633219011 8688888 16.300.000.00 8.625 DUE 12/31/49 r 042005 INTEREST 2074420692 FEDERAL NATIONAL WC PSSN ME 329 CLASS PO 3136FAWF6 11.727.11 S1RP CUE 01/0152033 0.000 FIN 52553201 C2 REPO INTEREST 092005 IVTEREST FANNIE MAE WO/SERIES 2003.13 31392=2 1,558.06 S RCR.1/0 FLTR LIOTS£00-019-ANGS DUE 03/25/2013 4.358 FM F2553383 A2 REPO INTEREST OA 1OO1/OS:113O CV MOO I8 IJ IJ S EFTA01260322 =ARM ThROUGM Zia %%MOLLY OWNED SISSOWAY OFFICE SERVICING YOUR ACCOUNT Ow San Stanzas Bear. Steams A Co. Inc. BEAR 383 Madison *creme w 10179 One lamed, Cn Nat Mem Yen 1120141139 STERNS FINANCIAL TRUST CO INC 32 a 34 sTATFueur IMMO Septette 1.2005 TIIROU3K Stranter 30.2005 Transaction Detail (continued) ACC080 paillelt lit= TraPANZI MOW REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) tar STATOJENT M98t 31.2005 sumac MX CALL OAR iM161LINN1 013010110N ST1,130SUSIP OWN Trf MEW MIOUN1 COUR Meat 09/2045 MEREST FANNIE MAE CIAO/SERITS 200342 31393C538 165.78 1(5443 FUR DUE 07/25/2017 3.458 FILM F2593195 A2 REPO INTEREST 00/20035 MEREST FEDERAL NATIONAL MTG ASSN 31340120 12.404.76 SERIES 346 CUSS 1 DUE 11/01/2033 0.020 -n FIN F2553190 A2 REPO MEREST 09120/05 INTEREST GOYERNIAENT NATCNN. MTG ASSN 38374F6T6 120.19 SERIES 2004-30 CLASS SU C DUE 02/20/2032 FRM F2623288 A2 3.590 rn 09/20/06 MEREST REPO INTEREST FEDERAL NAT 422 MTG ASSN SERIES 352 CUSS 1 3136F00:9 1.439.37 DUE 07/01/2034 0.001 MN F2623190 A2 REPO INTEREST 09/2005 MEREST FEDERAL NATIONAL MTG ASSN 3136FC11C9 12.326.44 SERIES 352 CLASS I CUE 07/01/2034 0.001 r 09/10115 INTEREST FTDA F2443351 A4 REPO MEREST FEDERAL MAMMAL MTG ASSN 3136FCLOG 1.034.44 SERFS 353 CUSS 2 DUE 07412034 5,01:0 FOAL F2443351 84 REPO INTEREST 09120/05 MEREST FUN. HOME LOW LOD COMPS10109 3128210N6 3.210.81 SERIES 227 CUSS 10 8TOTS£00- 019- ANCIS DUE 120112014 5,000 NM F2563201 A2 REPO INTEREST 027 1001/C6:11:10 001 VON En I8 b.) IJ EFTA01260323 =MILO THROtrxR RS YRICtLY COAXED StAXSOV•RY OFFICE SERYCING YOUR ACCOUNT BEAR Beat. Steams & Co. Inc. 183 Madsen Anna) Agedfees der. San seweet cap. CRP Ptah 11301-3859 STEARNS 10179 FINANCIAL TRUST CO INC 33 a 36 trrAmeg 'taco StcXembe 1.2005 rflectas Sectonber 30.2005 Transaction Detail (continued) ACCURET MASER TAXPAYER µ0CER REPURCHASE AND REVERSE REPURCHASE TRANSACT1ONS (continued) Lsr ETATTVERT Au9.01 31.2x5 5111113t0a 111105 DAM DM MANSAC11011 COMMON SVIABOUCUSIP EMMY OEM NWG ORM warter D9/20/D5 INTEREST MX HOME LOAN MG =P8610109 31282YDN6 3.529.52 SERFS 227 CLASS 10 DUE 12/01/2034 S. C) FILM F2443349 A2 REPO MEREST 09/2005 INTEREST TUX 11020E LOAN MG CORAPS10110 312/3219P1 2.437.59 SERIES 228 CLASS 10 DUE 02/01/2035 6.= -n 09/23/05 JOURNAL rnm F2153201 82 REPO INTEREST ADP CO FTTLI-PR F2633219012 6888888 16.500.000.80 C 8.625 CAA 12131/49 2074420692 in 09r23/06 JOURNAL ADP CO Frt1.1.PR F2633219013 8.625 DUE 12/31/49 8888888 10.500.000.00 2074420692 09/23/05 JOURNAL ADP CO 8888888 F111.1.PR F2633219014 16,600,000.00 8.625 DUE 12/31/49 2074420692 09123/06 r JOURNAL ADP CD FTDA.PR /2633219015 8.625 DUE 12/31/49 2074420692 8888888 17.400030.00 002105 MEREST NW CO 8888858 5.127,60 CUE 12/31/2049 8.625 EMMA F2633219012 2074420692 09/26106 JOUN441. STOP cc amuse 6TOTS£00 IN9 ANDS R0.1-FR F2633219016 17.400.030.00 8.626 DUE 12/31/49 2074420692 011 1601/06:1140 001 YW I !La-ZOO- V.83 EFTA01260324 CLEARED *mown ITS vA4OLLT CPA,E0 SAMMY OFFICE SERVICING YOUR AINVILVF Sew. Swans Seattle Cap. Sew. Stearns 6 Co. Inc. an Meta-ca c- Math BEAR 383 MacAwn Avenw 1.10. 0179 112014059 STERNS FINANCJAL TRUST CO INC 34 sTATEDEAT PESCO Depternber 1.2005 notouem Septen•Or 80.2005 Transaction Detail (continued) AO:OusT Awn" TAXPAYER Nam On Fie LAST STARTert Auguft 31.2005 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (CartilueCD SEMONOtt Moe DATE TWAACT0N CCU:MM. SvmeD:ADS2P GUMMY MIT ANCLPIT CRUX! PAADUNT OAR JOURNAL ACP CO 8898888 17.400.000.00 09, 25105 FITWER F2633219017 8.625 DUE 12/31(49 2074420692 09126/05 JOURNAL ADP CO 8888866 17.400.000.00 1011-PR F2633219018 8.625 WE 12/31149 2074420692 -n 09126/05 JOURNAL ADP CO MAAR F2633219019 8.625 DUE 12/31(49 8888888 19.200.000.00 2074420692 C 8888888 5.437,50 in 09/26/05 WTEREST ADP CO DUE 12/31r2049 8.625 FITM-PR P2613219016 2074420692 09/28/05 JOURNAL ADP CD 8868888 19.100.0:0.00 FRIA-PR 12633219018 8,625 DUE 122/31149 207442069 09/28/05 JOURNAL ADP CET 8888888 19.200.0)3.00 HTIA-PR 1263321901A r 8.625 OUE 12/31/49 2074420692 4033.33 09/28KA INTEREST ACP CO 8888888 DIK 12/31/2049 8.625 FITIA-PR 1263321901A 2074420692 TOTAL 4-033.NS.$4,134 S504.878.108.81 OZOTS£00- 019- ANGS 027 10Nni05:1110 001 rn 8 IJ IJ LA) I0 EFTA01260325 WORE, THARCH :TS WHOL'Y Ovo.ED raSIOVAre OFFICE SERVICING YOUR ACCOUM 8e74. Steams & Co. Inc. Der. Sian. Sco.anes BEAR 383 Madison Avenue 10179 OR *MVO Oral heRN IRV-VMS STEARNS FINANCIAL TRUST CO INC 35 STARVE+, MOO SepterAber 1. 2005 WORAC4 SWAMP.% 30. 2005 Transaction Detail (continued) MISCELLANEOUS AtC.0 NT SM TA UMP AW LAST ICARVViT WE Atc.st 31.2005 OAR REVOAT TUMS/L11:01 OMCINPIX* OBIT APJOINI COICIT MOMS 09/01/05 JOURNAL TO CM:6 At 0214212841 119.924.00 09/02/05 JOURNAL TO CMOY NC 0214212641 114,810.00 09/06/05 /CORRAL 0 09.07/05 JOURNAL TOCMDY /VC 0214212841 FR GMT AC 0214212841 164.592.50 66,530.00 z 09/08.05 JOURNAL FR CROY NC 0214212841 75.804.38 m 09/09105 09.713/05 JOURNAL JOURNAL FR MDT A/C 02142128-F1 FR CIADY NC 0214212841 5.112.50 116.022.50 09/13/05 .ClarMi. Ft844.30YROMAWTO 106.593,74 ci SETT.09105 m 5.000 DUE 09/01/35 MRS NET 05413/05 z 09/1105 JOURNAL PA544-30417(moiA.101D MI1.09805 5.500 DUE 09101/35 699.023.44 H M85 NET 0911105 39,14/05 JOURNAL FNMA-30YRIFNMAIGTO 85,937.50 SETT.09/05 6.000 DUE 0901/35 r - 16/05 JOURNAL MSS NET 09/1405 FR GvOY NC 021-5212841 396.328.50 >cm JOURNAL 8.135 SPEC PART 2 C.R ZEES 5.350 00 4.1412,23888 1745435.34 TZOTS£00 IND ANDS CRT 1001/C6.11:50 001 1484 £IL£ZZOO-Vin EFTA01260326 CtlAnt0 DiROU00 rrs 99Cti.v 096.40 SMISavre OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 0* Ms. Steen% SKIMIS Cop. hletrotecn Calif Math BEAR 383 Madison Mame 10179 11201455f STEARNS FINANCIAL TRUST CO INC 36 • N STAMEN" PE0100 Serxenter 1.2005 9.0MSM SeNenter 30.2005 ACCOLPIT Trades Executed Pending Settlement 7.90.9veR woman OT Ede LAST ErrArOdENT *opal 31.2006 SL1IW4DIT WOE pT OPT MANSACnON OFSCIPT1014 SvinOutUSP Worm rwa Cart /MOUNT OMIT MOST 10/13/05 09116,05 BOUGHT ENIAA-301R(FNMAIGTO 5,082592 50.000.000.00 100.3203 50. 60. 56.25 SETT.10/05 DUE 10,01/2035 05.500% 0987135514099 0 10013/05 09107/05 SOLD REF • 2005091657250000 BS FNMA-30YRIMMIGID SETTOM16 5,082592 -50.030.000.00 100.6260 50.312.600.00 CUE 10'01/203S 05.500% -n TOTAL 0967797115099 REF • 2005090757170000 BS 550.160.15625 SM.M2.340.00 C Tie M0. oarsrow cos n my car sortem sh.16vonr in z -H STOP, End of Statement r ZZOTS£00- 019- ANGS 077 1003,0seitisa am V096 EFTA01260327 CAMEO Manua, les OFFICE SERVICING YOUR ACCOUNT veneeLV OntatO SUOSDAm BEAR Bear. Steams & Co. Inc. 383 Madison Menus loam Ream Smote. Cow. ere Oletutch en Mtn eroathrt Nee TON 11201.385) STEARNS N Y P 1 10179 FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE GNMA GOVT BOND STAMArar PIROD July 30.2005 VISIT OUR WEBSTIE wawbearmearns con meows Auger 31.2005 What's In This Statement IIIIIelllm1111lill I II ACCOLM %meth nocoMiER toes On File Financial Summary 3 FINANCIAL TRUST CO INC LAST summer fl y 29. 2005 Your Portfolio Holdings 4 GO JEFFREY EPSTEIN TranSitarco Detail 7 6100 RED HOOK QUARTER Trades Not Yet Settled 33 STE63 ST THOMAS VI 00802 0 Z T r l C Your Portfolio at a Glance Market Value of Your Portfolio in TOTAL VAUX OF SECURITIES THIS PERIOD 3.188.141 cash£ Equviknt 5 2 21.488 —1,11.712 LONG ACCRUED INTEREST 34.115 Cam 53.188.141 NET citron mower Income 221.488 $3.204.048 Current manioc value NET EQUITY TICS PERIOD 53.443.744 allf Last statement's maker Mlle r NET COMM, !AST STATEMENT 3.241.555 CHANGE SINCE LAST STATEMENT 202.189 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. EZOTS£00- 019- ANGS Meg sunny', n M irfornerkoul pneno my 3 Ds na rumor as 4 as acorn nu tawny atroJd cc 'Waite Myna Metes See mono Rh ton/pain Ofmnsmn 027 Wel /06,1311 COI MI9V En I S IJ IJ EFTA01260328 ,Ma.,. O.ORO TWOUCH ITS OnNED SUILSIDINY Bear. Sean Seo.runc. Cr* Metsasch Cato Meth 112014859 FINANCIAL TRUST CO INC 0 z ii STATEMENT BACKER IS PRINTED ON THIS PAGE C rn z -H r VZOT SEGO IN9 ANDS 027 Ver 05.'328 O01 vm 9 I LaZOO- V.Ld3 EFTA01260329 awes 71494.4314 IT8 weettv 0.410) SIASSIDWAY OFFICE SERYCING YOUR ACCOUNT es. Sure Seminal cap. Bear. Steams & Co. Inc. BEAR 383 !ltsdson Avenue ON mimeo, Cerny Walli a My Yµ 11201.3859 STEARNS 10179 FINANCIAL TRUST CO INC 3 or 36 STATLIALNT PIRO° Ail 30. 2005 THACUCH etAjlef 31.2005 ACCCAPIT Alluttit Cash Flow Analysis Income Summary TAXPAYER WARR On Fie INS PERIOD me Peace VCAR10 DAM UST STATEWENT JOly 29. 2005 OpeningBalanco 111.711.77 U.S. God. Bond Int 461,711.95 4,520,094.57 Gott. Agency ht. 627.049.58 5,392,264.53 Securtics Sold 1.146.377.233.41 Corp. Bond Int 168,705.12 1.142.506.31 olvatIOSAIllaCSI 1.258.484.71 Credit Balance Mt. 998.06 5.322.57 Ishsraltaneows 1.174.993.98 Revers* Repurchase Mt. 150.243.08 1.523.787.61 Amount Credrtod S1.148,810.692.10 Total 11.408.707.79 S12,583,975.59 z -n Socuities Bought Diridendsanterest °lined 1.147.503302.66 -752,302.90 Bond Purchase Mt. Repurchase Int. Exp. -752.302.99 -208,934.41 -6.392,956.47 -1.500.590.05 MisceflaneCuS -345.310.60 C in Amount Debited S-1 148 600 91636 Portfolio Composition z Net Cash Attnity ClosingBalance 209.775.75 5221.487.52 Cashtash Equiyalem Fried Income 221.488 3.188.141 Your Portfolio Allocation Total $3.409.629 r Cash Balance Summary orogen etoseic Margin 11,711.77 221.487.52 Net CashBalance 811.711.77 1221.487.52 SZOTS£00-019-ANGS L reed 11COrne 94% WOWS partant U+IY -w Meal alb reCal neliel wills. Mr Swan [SUMO II denell err Oe Salo Arc nil.* of ra panto. al? 03.0106.13 3$ OCT EFTA01260330 CLEARED THROWN ITS volCux Ontal0 WISMAR+ OFFICE SERVICING 'am ACCOuNT Mw Yawns Startles Cow. Beet. Stearns 6 Co. Inc. BEAR 383 Madison Avenue 01411MMIAKA Cwt. Rath 11201,3869 STEARNS 10179 FINANCIAL TRUST CO INC 4 ax STATDAENT PEROD Jul/ 30. 2005 inotC.X.N Pupil 31. 2005 Your Portfolio Holdings k.:Cdpir Nute9ER TAxPAvER 5ANSER On EA! CASH & CASH EQUIVALENTS utT STATIVOrt kly 29.2005 INRECT ESIIIPATED CURRENT omens SYMBOLOSP COACRY Part pAlUt Nam wX00 TRW t% CASH BALANCE 221.4813 C) TOTAL CASH & CASH EQUIVALENTS FIXED INCOME -n Government & Agency Obligations C SYILICE/CLISIP Ca TYPE OUPPOITT pan PAPAW ?P.M *SCRUM MITRES? ESIWATTO µICU( WWI CURRENT TRU> CA in DESCRIPTION GOVERNMENT NATIONAL MEG ASSN 34374GP.IS MRGN 14.468.859 5.9466 860.404 15.870 619.432 60.3707 I 2004-035 CLASS SR DA D DALE 05/21/04 RTED BOOK ENTRY ONLY CUE 12/202029 3.590% FACTOR - .881145284 GOVERNMENT NATONAL NOG ASSOC 38374GY53 MAW 14.505.776 6.1364 890.134 SERIES 2004-041 CUSS SE DATED DATE 0&231D4 r BOOR ENTRY ONLY DUE 06/20/2030 FACTC4I .90303316 FEDERAL NATIONAL MEG ASSN 31393C203 MRGN 11.861.919 6.6431 811.726 6.638 390.323 49.0711 SERIES 2003-49 CLASS SW DAZED DATE 04/3003 BOOK ENTRY ONLY CUE 01/25/2033 3.358% FACTOR - .48800907 9ZOTS£00- 019- ANGS CaT 0101,05:13:29 001 PISS 8 1.4 IJ EFTA01260331 Cte/n0 751.0..61.. PS vatottv Ow*, Wes oar OFFICE SERVICING YOUR ACCOUNT Bear. Steams 6 Co. Ire. Self. SYMMS Seer on 05 B&W 383 Madison Avenue Dq .160c..ccn Can. Ken I1701.38SO STEARNS 10179 FINANCIAL TRUST CO INC SUIT WENT PERO() PA, 30 2005 THROWN mew 31. 2005 Your Portfolio Holdings (continued) ACCOINT MAISIR TAxpAYEA MAWR n le Government & Agency Obligations (continued) LAST STATORPa Mf 29.2005 ACC DES011•113N SThreOliCuSt2 ACCRUED CSTiv1110 aPenia aviary PM air MX Winn" AnktiAt 0.609/1 MO rig FEDL HOME LOAN LITG COPP•510109 31282YDN6 MRGN 465.211 SERIES 227 CLASSIC/ 21.4063 99.798 1,943 23.311 23.3582 DATED DATE 11/01/04 BOOK ENTRY ONLY DUE 12/01/2034 5.000% FACTOR - .93242216 Total Government& Agency Obligations 5' 612.062 52.6451 9941.066 m Corporate Bonds ci m CESOUPTICel ALTERNADVE LOAN TRUST SERIES 2034-3003 CLASS 1-A-8 SWBOLCUSin 126676066 ACC Mt MRGN 0tiAJIT, TV 363.806 ma 1,4876 YAM* mot 528.079 =WED MOWS! 9,664 ANNUAL (SMIATID Pall 579,966 COMM? 1160 110,2431 DATED DATE 12/27/04 BOOK ENTRY ONLY DUE 02125/2035 1.640% H FACTOR - .88409516 RAMC: MOODY MA SLP AAA Total CorporateltOndS 5524079 99.661 5379.066 r TOTAL El XEDINCOME 53.199,41 634.115 91.521.032 yOUR PORTFOUOHOLDINGSACCRUEO INTEREST 534,115 YOUR PORTFOLIO HOLDINGSESTIMATED ANNUAL INCOME 5' .521.032 LZOTSEOCINDANGS YOUR PRICEDRORTFOLIONOLDINGS 53.409.629 027 C901,04 13 20 071 yeas rn 4 IJ 1,3 Al EFTA01260332 CLLARZO*CPS in man' amigo SURSCARY OFFICE SERVICING YOUR ACCOUNT Bear. Stews & Co. Inc. Ma. Suomi Sens Cam. BEAR 383 Mackson Avenue New York, New York '0179 Os ItalIbIth COS, Mg" Mir 112014069 STEARNS FINANCIAL TRUST CO INC 6 /TN sTATTuroT •TRICO is 30.2005 THROJGH Alp St 31.2005 MN> ea vuweER Repurchase and Reverse Repurchase Transactions TAxPAyee ma3eR with Bear, Steams& Co.inc. outstanding as of date of statement µST STATtwENT .Lty 29. 2025 Pm:WV mosectust MCC PLIONASI MNa ItatuCO REPO COMM START OATS OAR RATE PRINCVAL ratRILIT• eTha MOUND CUSP OISCOPEOE YOU MOVISED FEDERAL NATIONAL MTG ASSOC (MARGIN) or29.05 OPEN 0.000 -S0.000.000 31392/4342 SERIES 2003-13 CLASS 4.3587 03025/33 YOU SOLD FANNE WE STRIPS (REPO) 08/01/05 09101/05 3.730 -5.923.000 -19024 40000.070 3136FOOC9 SERIFS 352 CLASS PO 07/01134 vou 8010 FANNIE MAE STRIP -n (REPO) YOU SOLD 013101/05 09.01/06 3.730 -1.850.030 5.942 -10.0130.000 3136WW6 SERIES 353 CLASS 10 5.000007/01134 FEDERAL HOSE LOAN SIRP C (REPO) 08.0186 09/01/05 3.730 -500.000 -1.605 4500000 3128270716 SERIES 227 CLASS 0 5.000012/01134 rn YOU SOLD (REPO) 08112/05 09212105 3.770 •13.401.000 -28.067 -10.003.000 3136FAVIE6 FANNIEMAE STRIP SERIES 329 CLASS PO 12611/32 YOU SOLD FANNIESIAE STRIP (REPO) 06/1205 09/12/05 3.770 -14.274.000 -29.896 -30.000.000 31344C803 SERIES 346 CLASS PO 110103 YOU SOLD FEDERAL NOME LOAN STRIP (REPO) 0821205 09/1205 3.770 -3.938.000 4247 .20000.600 312827006 SERIES 227 CLASS 10 5.0000 1210104 r YOU SOLD (REPO) 08(12/05 0902105 3.770 4.124.000 4.543 -20.000.000 3128211:01 FREDDIEMAC STRIP SERIES 228 CLASS ID 6.0000 02/01/35 YOU SOLD FECERAL NATIONAL M10 ASSOC (REPO) 08/15/06 00/14/05 3.780 -458400 417 44000000 31793C538 SERIES 2003.52 CUSS 3.4587 07/25/17 you SOW FEDERAL NATICOUL MTG ASSOC 8ZOTS£00- 019- ANGS (REPO) 08/1505 WM= 3.780 -384.000 -685 41.000000 31393C538 SERIES 2003-62 CUSS 3.4587 07/25/17 YOU SOLD FANNE MAE STRIPS (REPO) 0821605 051/19,05 3.610 -13.269.000 -19.689 43.030030 3136FCKC9 MKS 352 CLASS PO 07(01/34 047 09090313/9 AM rn 8 b.) IJ IJ O EFTA01260333 =APO, TWTOROT ITS wITOur OWNED Sue/WARY OFFICE SERVICING YOUR ACCOUNT sear. Steams & Co. Inc. tear. Sxans Sambas Ce. BEAR 383 Madison Avenue TOR Uttrown Cow hot BrorlOn. NNE Tort 112014/50 STEARNS Novo York. New Yort 10179 =M . FINANCIAL TRUST CO INC 7 OM STAR/RENT PEROD fl y 30. 7005 INRCT3314 AtOoS1 31. 2005 Repurchase and Reverse Repurchase Transactions (continued) Neer:W.7 Wan. TAWAYEA w-MIOR gm with Bear,Steams& Co.inc. outstanding as of date of statement (continued) LAST STATEWCIIT Alb 29.2005 kelOnSu ItOnnenum Poop POROUS( WE/ CEO RIPO OLIMIRW SIMI DATE DAR OAR PROVO IFNI MOW) CUSP DeS00•1101 YOU SOLD GOVERNMENT NATIONAL MTG ASSOC (REPO) 08fl8/06 OW1905 3.810 4,216.030 ABM -27.112.87E 18374F8T8 SERIES 200E-30 CLASS 3.5906 022002 0 YOU PROVIDOD NORM 08/26105 OPEN 0.000 .26,400,000 38374F087 GOVERNMENT NATIONAL 1410 ASSOC SEWS 2004-5 CUSS P 3.3,06 02M0/33 YOU 80W FEDERAL HOLM LOAN MTG CORP -n (REPO) YOU SOW 08/29/05 OPEN 0.010 -9.724.538 31395127,8 SERFS 2886 CLASS SC 3.7287 07M5/19 USTR 4.2500 08/15/15 C (REPO) 08/31/05 09.01/05 3.200 -20,225.000 -1.797 -20.003.000 9127328EE6 in YOU 90uoirt (REVERSE) 08/3105 0901105 TOTAL REVERSE REPURCHASE TRANSACTIONS 3.320 68.255.000 6.294 68,000.000 912828(13 USTR 4.000008731/07 SOUSSA00 0.294 TOTAL REPURCHASE TRANSACTIONS 5-12.4.113 N. M falMift r Transaction Detail INVESTMENT ACTIVITY sentwort RIADE 6ZOTS£00- 019- ANCIS DAll DATE TRANSACTOR DESCRP11011 STMODLCLOP WARM Ofta. our ATICURI CREDIT MOM 08/01/05 07/29/05 BOUGHT UNTIED STATES TREASURY NOTE 912928099 10.000.000 98.78125 9.878.125.00 DUE 08/15/2015 04.125% 1.9/ 15 ACCR. TNT. 0988016192099 87.432.07 YIELD 4.278 %TO MATURITY OVER REF • 02105081 Al OY/ 0801.05.13:8 001 rn 8 IJ IJ IJ EFTA01260334 CLEARED MAGOON ITS • CraTID SuSWARY OFFICE SERVICING VCR AntiiNT Beet Stearns & Co. Inc. Ser. Swan's Socuibts Cap. BUR 383 Madison Arena Haw YrAt PZ.vi WO '0179 Ole 3.levccocn Crow Math iI01.313510 STEARNS FINANCIAL TRUST CO INC 8 e ), sTATvIena KR= API 30. 2005 THROUGH 240.61 31. 20:6 Transaction Detail (continued) ItOCIPC WISER TAXPAYER slant gm INVESTMENT ACTIVITY (ccainuoS LAST STARIuM Juk 29.20[6 SMIPAUrt WEIC DAR DAR IRNISACDCM DISCRPIlLel STIMOUCUSP CAW IN Pit Call AVOW CIII# NAOMI 08/01/05 07/28)05 SOW UNITED STATES TREASURY NOTE 912828(82 .23.000.000 99.80480 22.955.078.13 DUE 0701/2007 03.815%11 31 ACC*. NT. 2.421.87 0988061 192099 YEW 3 978 % TO MATURITY 0 08,01,05 01/2805 SOW GVER REe 102093006 61 LISTED STATES TREASURY NOTE DUE 07/3112007 03.875% 1/ 31 912828(82 -50.000,000 99.80469 ACCR, M. 4%902.343.75 6.264.95 0988016192099 -n YEW 3,978 %TD MAMMY OVER REF 142093006 Al oenuos m)0s.% BOUGHT FRIAA..pj ..NPANGTD 54811877 1.000.000 100.48313 1.00..631.25 08/04 C DUE 08.01/20311 05.500% 0987016110099 rn 080 105 07/15/05 CAMEL SELL REF • 2005080357100300 BS FNIAA-30YROUW/GTD SETT.03/04 SA80977 30,030.000 103.82031 30.246.093.75 DUE 08/01/2014 05.500% 0987016110099 REF A 2005071557180000 BS AS OF 0705/05 TO CXL PREYOUS SELL 00/11/05 07/07/06 CANCEL SELL ITOAA-30TROIIMA)GTO SA80977 30.003.000 100.96875 30.290.625J:0 SETT.08/04 r CUE CO/01/2034 05.500% 0987022118099 REF • 2035070757310007 BS AS Of 07107/05 TO CAL PREVEUS SELL 0801/05 07/29106 CANCEL SELL FASAA.301110NIAOGID 5A80977 40.000.000 100.50181 40.203.125.00 SETT.08/04 DUE 0801)2034 05.500% 0987000510099 OEOTS£00- 019- ANGS REF 12005072957090000 8S AS Of 07/29/05 TO CO. PREVIOUS SELL 027 01.01/05413:28 a01 YIPS rn 8 b.) INJ INJ Is) EFTA01260335 CLL010 TAROLGe MaGY 0m,40 EANISIDANe OFFICE SERVICING YOUR ACCOUNT Sew. Stearns & Co. Inc. Int lien Setutia Cap. BEAR 383 Madsen Mem:0 Ore Wearer Crier MaR Reactr. NM of 23 3659 STEARNS New York. New Yak 10179 MIIMBMNSIBM FINANCIAL TRUST CO INC 9 e n seAroArre MARGO PA! 30.2005 "'TROUGH AirgPit 31.2005 Transaction Detail (continued) ACCOUNT MARRA 'REPAVE/2 µ.ltd E74, INVESTMENT ACTIVITY (:0103414) LAST STATEMENT 1429. 2026 StIll/I070 EWE DATE DATE TRAMEACTION OUCRIHRON SYMOOLAWSP OUrEater PRICE CCM PAWN! Mart masa 08/11)05 07/11/06 BOUGHT F7044-3000FNMA= 5A80977 50.000.000 100.88281 50.441.406.25 0 SETT.08/04 CUE 08/01/2034 05.500% 0987000510099 0 0&11/05 07/0605 CANCEL SELL REF • 2005071157110000 BS EHIAL-30YRIFNIANGTO SETT.08/04 5480977 50.000.000 100.96094 50.480.468.75 DUE 00/01/203A 05.500% -n O967000510099 REF 12005070857250000 95 AS Of 07/0605 TO Cal PREVIOUSStu. C WINOS 07/06/05 CANCEL SELL FNI/A.3006R0AUGID SETT.08/04 5.480977 50.0110.000 100.16094 50.490.470.00 rn DUE 08.01/203.4 06.500% 0967000510399 REF *20050704357250100 BS AS OF 07/06/D5 TO Ca PREVIOUS SELL WHAM 06/0105 BOUGHT Fram-30YRONIAUGTO 5480977 99400.000 100.43750 99.433.125.03 SETT.08/04 CUE 084)112034 06.500% 0987797115099 REF *2005080357160000 BS r 08/11/06 0810105 CANCEL BUY roa44-30114(FNIANGTO SETT.08.04 DUE 0801/2034 05.500% 5A60977 .1.030.030 100.45313 1.004.531.25 0967016110099 REF * 2006080357160030 BS AS OF 06/03/06 TO CXL PREVIOUS 80Y 013/11/05 07/15,06 SOLD F7491.4.304RIENSANGTO SA80977 -30.030.000 100.02031 30.249093.75 SETT.084.34 TEOTS£00- 019- ANGS CUE 06/01/2034 05,600% 0987016110099 REF • 2005071557160000 BS 027 04401/06.1328 001 4949 rn 8 IJ IA2 IA2 EFTA01260336 CLEA DROWN ITS ?MOLLY 00020 Sul!MODS OFFICE SERVICING ICOR ACCOUNT lks stows StOSIOS Bew. Steams 6 Co. Inc. BEAR 383 Manson Mecca° Se women ores Nall 1120148S) STEARNS 10179 FINANCIAL TRUST CO INC 10 NM STATE'S'? PERIOD July 30.2005 7SOLS4 &gust 31. 2005 Transaction Detail (continued) A7C0c7i? suite. TAAAvtA DIMS. On Fie INVESTMENT ACTIVITY (conlinua) LAST TATES'? My 29.2005 SUNNIS WAX DATE OAR TRANSACTION CtSCRIPION SVIAIOUCUSIP DUMMY MICE DEW AASOD atm wow oentios 07407)05 SOW FNLIAJOTRIFFALNGID 5.180977 40.000.000 100.96875 30.290.825 .00 SETE.C43/04 WE 08/01/2034 05.500% 0987022118099 0 Denims 07/29/06 SOLD REF • 2005070757310000 BS FlAtAX . IMIFNIAIXTD SETT08104 SA80977 40.003.030 100.50781 40.203.125.00 DUE DB/01)2034 06.500% -n 08)11/06 ottivos CANCEL BUY 0987000510099 REF 0 2005072957090000 OS Fm.U.30YRIMANGID SA90977 .50.000000 100.88281 50.441.406.25 SETT.08,04 C DUE 08/0112034 05.500% 0987000510099 rn REF • 2005071157110000 AS OF 07/11106 TO CO. PREVIOUS BUY es 08/1105 07/08/05 SOW INIAAJOIRTNIANGID SA50977 -50.000.000 100.94096 50.480.466.75 SET1.08/04 DUE 060112434 05.500% 0987000 0099 REF • 2005070857250000 BS AS OF 07/08/05 r 08/11/05 07/08/05 SOW ROAA-30YRoNMAIGTO DU .08/04 E 0101/2034 05.500% 0987000510099 5.180977 .50.000.000 100.96094 50.480.470 .00 REF • 2005070857250300 EIS 0811105 08/03/05 CANCEL BIN FAINe30YRIFIAINGTO 5.150977 -99.000.000 100.43750 95.433.125 .00 SE17.08/04 WE 08/01/2034 05.500% 0987797115099 REF 0 2005080357180000 BS ZEOTS£00- 019- ANGS AS OF 08/03/05 TO 0. PREVIOUS WY 047 060I.C6:1320 ODl VMS 8 b.) IJ 17.2 EFTA01260337 Csfailo nolOvCal r113 os.Csof oØ Sul924Courf OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. rc. 8es Ours Stones Cop. BEAR 383 MadØ Avenue Cl. ~nosh Croy Ilath 201.3859 STEARNS ØNew Y - Y 10179 IAL TRUST CO INC faTeMen Nita, Jun 30. 2705 THSOr.oi µgust 11.2005 Transaction Detail (continued) m:CaPir him1588 TAxPAYER kleaert en nip INVESTMENT ACTIVITY (continued) LAST summer ry 29.7003 517110.41741 MOE DM DAM TIOACIACOC81 DESCRIPTON SVIMUOLISIP %WM 1.8,1 Dan MOUNT OUZO .~.41 08/11ID5 06'03/05 BOUGHT ROM 30YR GM SA83016 10.000.000 98.34766 9.834.765.63 SETT. 0806 DUE 08/0172035 05.~ 0987018110089 0 08.411.05 07/21/05 CANCEL SW. REF • 2005080357990300 BS FNMA 30YR GTD SETT. 08/05 5/83018 10.000.000 98.59375 9,859,375.00 DUE 08/0112035 05000% -n 0987000510099 REF N 2005072157190000 BS AS OF 0721/05 TO CXL PREVIOUS SELL 08711/05 08103/0$ CANCEL BUY EMA 30YR GTD SA83016 40020.000 98.34788 9.834.785.63 SETT. 08.05 rn WE C8/01/2035 05.000% 0987016110099 REF * 2075030357990000 BS AS OE 08.03/05 TO cxi PREVIOUS WY 08/1105 07/21/05 SOLD FNMA 30YR GM 5/83016 .10.000.000 98.59375 0859.375.00 SETE. 00/05 DUE 08/01/2035 00070% 0987000510099 REF # 2005072157190700 BS r 08/11/06 08710105 BOUGHT UNITED STATES TREASURY NOTE DUE O571Ø504.125% MN 15 0988016192099 0126280V9 5.030000 AMR. MT. 98.06750 4,903,125.00 49.320.85 MELD 4.370 %TO MMURRY GVER REF N 62222986 Al 08112/05 08/11/06 BMW UNTIED STATES TREASURY NOTE 9128280119 30.000.0110 98.25003 29.475.000.00 ORE 05115/2015 04.125% MN 15 0988030592099 AGGR.1117, 399.288.88 WELD 4.346 % TO MATURITY EEOTS£00- lA19- ÅNGS GVER REF • G2234235 Al 08/11105 08711/05 SOLD UNITED STATES TREASURY NOTE 912829079 .30.000400 98.34375 29.503.125,00 DUE 05n5/2015 04.125% IAN 15 0988280293099 ACCR, INT. 299,288.88 yap 4 334 %TO MATURITY GVER REi • 62234830 Al 027 OVOLVeol3:28 COI VMa EFTA01260338 CI£IMD THROW... NS VAICU.Y WNW SuSTIWAY OFFICE SERVICING YOUR Artnnmy Sive. Stuns UCLA*, cap. Bev. Steams 8 Co. Inc. DR INtutoch Wow IWO BEAR 383 Madison Avenue 179 11201.3959 STEARNS FINANCIAL TRUST CO INC 12 am STATWERT AfPn30 Mg 3D. 2005 THROJOH Wpm 31. 2005 Transaction Detail (continued) WOWS/ ROMER TA PAYER MASER LAST ;TAMPON Jut/ 29. 2005 INVESTMENT ACTIVITY (continuo:0 Swuw TRW DUO WONT CREW W05911 DAN DATE TRANSACTION OESOMPICII SYWOUCTISIP WARM PRIX 08/12/05 08/11/05 BOUGHT UNITED STATES TREASURI NOTE 912828E82 15.000.000 99.58250 14.934.375.00 DUE 07/31/2007 03.875%N 31 ACCA, M. 103.953.80 SPECIAL NSTRUCTONS YIELD 4.103 % 10MATURITY INTU OVER REF a 62233844 Al YMEB 08/15/05 06/12/05 BOUGHT (WED STATES TRFAm wry FETE 912828E82 10.000.000 99.70313 9,970,312.50 DUE 0731/2007 03.875% U 31 ACCR, NT. 15.794.84 0988726998099 -n 00/15.05 08/12105 SOLD YIELD 4.033 %TO MAMMY GVER REF 4 62245018 Al UNITED STATES TREASURY NOTE 912828E82 .20000.000 9945500 19431.000.00 DUE 07/31/2007 03.875% n 31 ACM. NIL 31489.67 0988778197972 MELD 4,059 % TO MATURITY in GVER REF 162245035 A3 AS OF 0802/05 z 08/16/05 0015.06 SOW UNITED STATES TREASUR( NOTE DUE 05/15/2015 04.125% 114 15 0988726998099 YIELD 4.286 %TO MATURITY 9128280V9 -5000600 98.72266 ACCR. M. 4.938.132.81 52.122.96 OVER REF 0 62273023 Al 080605 DP3/15/05 BOUGHT UNITED STATES TREASURY NOTE 912929EE6 5.030003 09.90825 4.995.312.50 CUE 01115/2015 04.250% FA 15 ACCR. 577.45 r 0989726998099 YELO 4 262 %TO MATURITY mERW*ummem 06/16/05 06115005 SOD UNITED STATES TREASURY NOTE 91289SEES 40.000030 99.68750 9.988.750.00 DUE OW1 01 3095904,250% FA 15 AECR. NT. 1.154.89 09882905/229 YIELD 4,289 % TO MATURITY OVER REF • 62273919 Al UNITED STATES TREASURY NOTE 912828£E6 10.000.000 10:05000 10.025400.00 PEOTSEOCINDANCIS 08/17)05 08/16/05 BOUCOT CIE 08/152015 04.250% FA IS ACCR. M. 2.309.78 0968280243099 YEW 4,219 % TO MATURITY GVER REF/. 62285068 Al CV 09.01.09.13:29 001 YNS rn 8 b.) IJ IJ EFTA01260339 CLEARED rmacra. ITS MOLLY OWNED ILIEDDDRY OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. teas.Rearns Sparest Cap. BEAR 383 Medtson Avenue CrielAettaecn Carte PLED SPAP.N.E. 'art 11201.3859 STEARNS New York. New York 10179 FINANCIAL TRUST CO INC 13 teas STATOAle PERIOD July 30.7005 THROVG. AugaU 31. 2005 Transaction Detail (continued) ACCOLAT wage TAXPAYER Dwarf, nl It INVESTMENT ACTIVITY Honbnuee0 LAST suit:won guy 29. 2005 St umm num CUTE muesterew EXECS XT/ DNITTOIVS• aummy MCCF otm ATAOUNT CLEW Want MIMS 06,16.05 SOLD UNITED STATES TREASURY ADTE 912828(82 -10,000.000 99.73438 9.973.437.50 CUE 07/31/2007 03.875% il 31 0986003592099 ACM M. 17.90042 YEW 4.017 % TO MATURITY OVER REF • 02284269 Al 0 WINDS 09/17105 BOUGHT UNITED STATES TREASURY NOTE DUE 08/15/2015 04.250% FA 15 0988016192099 912828M6 25.000800 ACCR. M. 99.83984 24,959,980.04 9461.613 YIELD 4.270 %TO MATURITY -n 08/18/05 08/17105 SOLD OVER REF • 62294676 Al METED STATES TREASURY NOTE DUE 084i 542015 04.250% FA IS 9128281E6 .25.000.00D 100.07813 25.019.531 .25 ACCR. NT. C 0988280293099 YEW 4.24022 TO TiATuRnY 8.661.68 rn 0811905 08/18/05 BOUGHT GAR REF • 02292609 Al UNTIED STATES TREASURY NOTE DUE 06/15/2075 04.250% FA 15 9128285E6 10.000400 ACM. M. 100.26563 10.026 562.50 0988016192099 4.619.57 YIELD 4.217 %TO MATURITY GVER REF N 62303843 Al 06/19/05 08(18/05 SOLD TATTED STATES TREASURY NOTE 912828EI5 .10.080.000 100.12500 10.012.500.00 Ca 09/1512015 04.250% FA IS 0988000592099 Ma M. 4419.57 Ilan 4.234 is TO MATURITY r 06/2205 08/19415 BOUGHT GVER REF • 62303360 Al UNITED STATES TREASURY NOTE 912628616 10.000.000 100.31250 10.031.250.00 DUE 08/15201504.250% FA 15 SPECIAL INSTRUCTIONS ACCR. INT. 8.064.24 YEW . 4,211 %TO matirerry GVER NU • G2313898 Al WWEB 08/72/05 08/19.05 BOUGHT METED STATES TREASURY ROTE 972828118 25.000,000 T 100.34375 25,065,937,50 PA 08415/2015 04.250% FA IS SEOTSEOCIA19- ANGS SPECIAL NSTRucnONS Pan Mt 20.21040 YIELD 4.207 % TO lawn OVER REF • 02348702 81 Asa 00/19405 0•01.00:1320 001 3105 EFTA01260340 CLEARED TROUGH ITS witty O.O2D SASSMART OFFICE SERVICING TOM ACCOUNT Sas. Mans SMARM Co. Sep. Steams b Co. Inc. Marttech Caw Wall BEAR 383 Madsen Avenue 10179 Xey Tort 112014559 STEARNS CO INC 14 vs STATIONS! TIP= My 30. 2005 MOM. Augur 31.2005 Transaction Detail (continued) ACCOLM PAPAW TAXPAYER MOP LAST RAMAN? APT 29. 2005 INVESTMENT ACTIVITY (continued) SE1TIMAEST IW( ow mow CRECHT AY $T DATE CA% 111.0640130i CESCRP11M SYMMUCUSe GUMMY Keel 08/19M5 SOLD UNITEDSTATES TREASURY NOTE 912820E6 -25.0:0.000 100,26583 25066.406.25 06/22,05 DUE 08115!2015 04.250% FA 15 ACCR. M. 20.210.60 C) 0988728998099 YEW IL TO MATURITY 0 0822/05 0611605 BOUGHT OVER REF 0 62313522 Al 4.217 UNTIED STATES TREASURE NOTE 912829E22 10.000.000 99.75000 9.975.000.03 Z T DUE 07/31/2007 03.875% U 31 0988016192099 YEW 4,009 %TOT/TATUM!? ACCR. M. 23.165.76 GVER REF 0 62313866 Al 1 1 08/22405 PRINCPAL GOVERNMENT 'anew MG ASSN 38374GEO5 .168.188 SERIES 2004-035 CUSS SP 3.770 DUE 12/20/29 m PRINCIPAL REDUCER 06-20-05 06/22/05 PRINCIPAL GENERTPIENT NATIONAL MEG ASSOC 36374605 -150917 SERIES 2004.041 CLASS SE DUE 0920130 PRINCIPAL REDUCER 004005 0/2405 08/23/05 BOUGHT UNITED STATES TRUST*/ NOTE 91282806 10.000.000 100.57813 10.057.812.50 096926029M/15/2015 04.230% FA 15 DA ACC& NT 10.304.02 3099 YEW 4178% TO MATURITY GEER EM XX 62354365 Al r 08/24/05 062305 SOW UNTIED STATES TREASURE NOTE DUE 08/1512015 04.250% EA 15 91282806 -10.000.000 100.40625 10.040.625 .00 10.394.02 0988016192099 NEW 4,200% TO MATURITE OVER REF • G2352709 Al PRINCPAL MEM NATIONAL MFG ASSN 3136EAWDS 128.288.70 08/25/05 SERE 329 CUSS PO DUE 01/01/33 9EOTS£00- 019- ANGS STRP PROT RFD 07-05 P/0 0%2545 REPO P 4I 0.0000 on OIMMOPSE 991 YEN 8 IJ IJ DO EFTA01260341 0.2AnD 12130JON me. CrA,210 SUISSCARY OF FCE SERVICING YOUR ACCOUNT Be. kens SeCuitis Cap. BEAR Bear. Stearns 4S Co. Inc. 383 Madam Avenue Ow *Mato, Cerny Noah Damn New of 20 MSS STBIRNS 10179 FINANCIAL TRUST CO INC 15 <I 33 STA,111tIO nmoo Lk 30.2005 tnROUGm A0020 31.2005 Transaction Detail (continued) ACCOurrr P.1202elt TAXPAYER /Omni On Fie INVESTMENT ACTIVITY (continued) LAST STATFUEuT 100 29.2005 SEIRDRIa WO( OAK DAN tRIASACTON OLSCRP11311 WilimunAr Ourrinrr Nem Dm Amman mac AWOLM 08/25/05 PRWCIPAL FEDERAL NATIONAL MEG ASSN 3138FAWFA SERIES 329 CLASS PO 364.866.10 0 DUE 01/01133 STRIP PRIN RID 07-05 OD 0845405 0 08/25/0$ PRINCPAL REPO P al 0.0000 FEDERAL NATIONAL PM ASSN SERIES 2003-49 CLASS SW 31393C203 -325.337 3.358 DUE 01125/33 PRICIPAL REDUCTN 08-25-05 m 08/25/05 PRNCPAL FEDERAL NATIONAL MEG ASSN 3136FC8C9 188.29920 SERIES 346 CLASS 1 DUE 11/01/33 C PRIN RID 07-05 IND 0345-05 in 08/25/05 PRINCPAL REPO P a I 0.0000 FEDERAL NATIONAL MEG ASSN SERIES 346 CLASS 1 3136FCF102 — 335598.40 Cut 11/01/33 PRP WO 07-05 RID 08-25-05 REPO P & I 0.000D 08/21105 PRINCIPAL FEDERAL NATIONAL MTG ASSN 3138209:9 SERFS 352 CLASS 1 241,10300 0.001 DUE 07101/34 PRIN RID 07-05 PA) 06-25-05 r 08/25/05 PRINCIPAL REPO P I 0.0000 FEDERAL NATIONAL MEG ASSN 3136ECKCS 554.531.38 SERIES 352 CLASS 1 0.001 DUE 07/01/34 PRIN WO 0705 PA) 0845-05 REPO P &I 0.0000 08/25.06 PEANCPAL ALTERNATIVE LOAN TRUST 12687F086 -985.881 SERES 2004-30CB CLASS 1-A-8 LEOTSEOCIN9- ANGS 1.640 DUE 02/25/15 pRWCPAL RECUCTIT 08-25-05 ce7 cequaan391 OP vets EFTA01260342 CLEARED THROWN ITS wmare OAS $USSIDARY OFFICE SERVICING YOUR ACCOUNT 8w. non karat CO. Beer. Steams & Co. Inc. Ore lexamth C— Nan BEAR 383 Madison Avenue 10179 S itor of 20 3868 STEARNS FINANCIAL TRUST CO INC 16 c' 1: sinuENT Pen= July 30.2005 ouoson mut% 31.2005 Transaction Detail (continued) ACCOLW NLIPIER TAXPANTR ,ItNIKPOIL M IAST STATEMENT /09 29.2005 INVESTMENT ACTIVITY (continued) SETELEVENT /RAM SIA8OLCUS. euranny PRICE DOW AMOUR CREDO AMODIO DATE DATE MARSICTini DESC930110N UNITED STATES TREASURY NOTE 91282682 19000000 99.77144 17.959.218 .75 61/28/05 08)25103 BOUGHT DUE 07/31/2007 03.875%N 11 AC01.111. 49279.89 0988035598099 YIAELD %TO MATURITY GR REF••3.99762373905 81 BOUGHT UNITED STATES TREASURY NOTE 912928992 50600.000 99.77144 49.286.718.75 0626/05 08/25/06 DUE 07/316007 03.875% 11 31 ACOR. MT. 138.926.59 0988035598099 -n 08/29.05 08/28/05 BOUGHT YIELD .997 %TO MATURITY OVER RE3F 0 62373905 AT UNITED STATES TREASURY NON 912828996 5400.003 190.7954119 6.039.843.76 DUE 08n5/2015 04.250% FA 15 C 0988016192099 ACM. M. 8.084.24 in 082906 0866/05 SOW YELD 4,151 TO MATURR OVER itEit G211182619 AlY UNMEDSTATES TREASURY NOTE 91282866 -5.000000 100.85625 0032.812.50 8.084.24 DUE 00/1542015 04,250% FA 15 ACM M. SPECIAL INSTRUCTIONS YEW 4.169 %TO MATIARITY GVER REF • 62412240 Al VMS AS OF 61/26/05 00/30106 JOURNAL FREDDIE INC CI SERBS 2888 369512148 SG/0 FUR r 08/3165 08/30/05 BOUGHT 1.728 DUE 07/15/19 UNITED STATES TREASURY NOTE 91282866 5630,000 190.87188 5.031593.75 OuE08/15/2015 04.250% FA 16 ACCR, M. 9.219.13 0988035598099 TEED 4.167 %El:11461Rn OVER REF • G2422297 Al UNITED STATES TREASURY NOTE 91282863 15,000.020 99.97666 14.995.464 .38 0861/05 0840.05 BOUGHT DUE 0861/2007 04.000% FA 28 SEOTS£00- 019- ANGS 0989027496099 VELD 4 12 % TO MARAY OVER REF.0• G2423132TUAT 027 010VOLlk21 COI YMt I8 IJ IJ O EFTA01260343 CLLAno mit0L533 ITS OFFICE SERVICING YOUR ACCOUNT Aware o.we Suntan BEAR Boar. Stearns & Co Inc. 383 MeOrton Avenue Bur -M kerb,. Cap. Ow Mtecuxh Gate WM STEARNS ork 10179 Moe 11201.3359 FINANCIAL TRUST CO INC 17 025 Soan413+7 PEFOCO AI/ 30.2005 Damao./ Haw 31.2005 Transaction Detail (continued) AcrOUNT WIWI WM 73.035E14 WISER INVESTMENT ACTIVITY Rentinueel LAST ST3725INT Arry 29.2005 SEMEIEEKE EWA Mn KT TIMAILACIION 01.50491103 SWb1.OUS• OUPMEN Keel 08/31/05 08/30/05 SOLD UNITED STATES TREASURY NOTE Mar 'WONT Caton AV05111 912821613 -15.000000 C) DUE 09/31/2007 04030% FA 28 99.99219 14.998.828.13 0988728998099 YIELD 4.004 % TO MATURITY 0 GVER REF # G2423914 Al 08/31/05 08/2505 SOLO LAVED STATES TREASURY NOTE 912828EF3 -18.000.000 100.00000 DUE 08/31R007 04.000% FA 28 18.000.083.00 0988035590089 YIELD 4.030 %TO MATURITY OVER REF • 02373906 81 E F 0Y3105 08/25.05 SOLD UNITED STATES TREASURE NOTE 912828EF3 -50.000.000 100.00000 DUE 0801/2007 04.000% FA 28 500:0.000.00 C 0988035598099 yELE. 4.000% TO MATURITY rn TOTAL OVER REF 0 G2373906 Al 5.640.259.921.44 5679.333.95125 INTEREST DATE DESCRIPTION sseeueu5I0 RUMMY HUI IV 08/01/05 Ong MADDER Oleo asiOuriT AVG EN. 457.1100 2.481 r 01/15.05 021 OFFICE INTEREST 0705 MCC NOME LOAN MTG C00)9510109 998.08 31282713N6 5.0000 SERIES 227 CLASS ID 1.967.88 DUE 12/01/2034 5.000 RR R/D 07-05 PO 08-15-05 REPO P & I 5.0000 08/15.05 FEDL 1100E LOAN MTG COPP/PS10109 3128210%6 5.0000 SERIES 227 CUSS OD 6EOTS£00-019-ANGS 37.389.40 CUE 12010034 5.000 INT R007-05 PO 08-1545 REPO P 6I 5.0000 027 0032105,1321 $01 VIM m I8 b.) V.) 1.4 EFTA01260344 CLEARED DRIOLKIR ITS renew' ORME, SUISSERARY OFFICE SERVICING YOUR ACCOUNT Bar. Steam 5yeaRiat co_ Bear. Stearns & Co. Inc. Cetter BEAR 383 WaclIsc0 Mtnue Nr.• York, New Yak 10179 Coo lAttrarcer Math liroorlErt Re. Yort 112014859 lililililililli STEARNS FINANCIAL TRUST CO INC 18 C35 STAIU.0 nsbCo 11/E 30. 2005 THROtrot Augutt 31.2005 Transaction Detail (continued) ACCOUra WARR, TAXPAYER RJIMER On Fie INTEREST ICOntink/00) LAST SYR11110C July 29.2005 act DESCRPT7000 NE4PDOCIA• 0.10MITY RATE IV OM mew C1107 WPM 06/15435 RIX HOME LOAN MTG CONPIS10108 3128210N6 50030 76.714.53 SERIES 227 CLASS WE 12/01/2014 5.000 NT ND 07-05 ND 06-1505 REPO P 41 5.0000 08/15.05 FRECCE MAC CAOMERIES 2886 3139512/43 3.9110 11.317.04 SC-L0 FLTR DUE 07/15/2019 3.911 -n 08/15/05 NT R/D 07-05 RD 08-15-05 REPO P & I 3.9118 FREDDE MAC 040/SERIES 2886 31395/2/8 3.9110 18.196.21 SC-L0 FUR C DUE 07/15/2019 3.911 INT IUD 07-05 PO 08-15-05 in can sios REPO P I 3.9118 Mt HOME LOAN MEG CORPOS10110 SERIES 228 CLASS C 3128210P1 60001 µ•.•- 87,142.06 WE 024)1/2015 6.000 NT RA) 07.05 P/D 061545 REPO P 6I COMO 08/2205 GOVERNMENT NATIONAL MTG ASSN 313374ft/87 3.5200 51.626.67 MRS 20045 CLASS PS DUE 02/20/2033 3.520 r 08/2205 NT RD 07-05 P008-2095 REPO P L I 3.5200 GOvERNMENT NA1101611 FOG ASSN 38374FD87 3.5200 77,440.00 SERE 2004-5 CUSS PS DUE 02/20/2033 3.520 NT RID 07.05 ND 062045 REPO Pt I 3.5200 06/22/05 GOVERN/OD NATIONN WIG ASSN 38374F6T6 3.7700 75,576.80 SERIES 2004.30 CUSS SU OPOTS£00- 019- ANGS WE 021202032 3.770 IM RD 07-05 P008-2005 REPO P 8I 3.7700 027 00221/061121 COI 4496 rn 8 IJ IJ IJ EFTA01260345 GLEAM TiTICNON RS TROLLY ONNID SUMMARY UTICE SERVICING YOUR ACCOUNT Bear. Steams I. Co. Inc. Pte.. Slaws 340.illes app BEAR 383 Madson Menue Ore Vetelati CASs Not 119010p. Nem Vot 11201.3560 STEARNS New Yak. New TA 10174 RIM) INC STATEMENT fl ay 30.2005 notowlm August 31. 2005 Transaction Detail (continued) ACCOUNT MU MA TAOMRTA KAISER On Fie INTEREST (contawed) usi. summon Ay 29.2005 OAR ocsaitinm ini4OUGUSP Maxim RATE MI Can AWN{ GNAW AICUIT 0822975 GONTERNPIENT NA1)2NOL Arta ASSN 383746105 3.7700 SERIES 2004-035 CLASS SP 48978.44 DUE 12/012029 3.770 INTEREST PAYMENT 08-20-05 0 08/22/06 GOVERNMENT NATIONAL MG ASSOC SERIES 2004-041 CUSS SE DUE 05/20T2030 0.000 383740755 48.048,44 INTEREST PAYMENT 002005 m 08/25/05 FANNIE WE 0.10/SLRIES 2003.13 S RCR-L0 FUR DUE 03/25/2033 4.358 31392.052 4.3580 91,514.41 NT IUD 0745 Pits 0025.05 REPO P 8I 4.5400 ci m 08/25.05 FEDERAL NATIONAL LNG ASSN SERIES 2003.49 CUSS SW DUE 01/2612033 3.358 INTEREST PAW/ENT 08-25-05 31393C205 3.3580 µ 35.952.40 082505 FAME MAE PAO/SERIES 2003.62 313930538 3.4580 22.557.38 H KS4/0 DUE 07/2 R FU5/2017 3.458 INT WET 07-05 P/D 08-25-05 REPO Pa I 3.6400 r OW25/05 FAATIE ?AM woracs 303342 ISITO FUR DUE 07250017 3.458 INT R/D 07-05 RD 08-25-05 313930538 3.4580 28.709,39 REPO P 8I 3.6400 08/25.05 FEDERAL NATIONAL IATG ASSN 3136FCLD8 6.0000 37.848.21 SERFS 353 CUSS 2 DUE 07/01/2034 5.000 PET WO 07-05 P/D013-25.05 REPOPSI S.0300 TVOTSEOCINDANGS OTT 08,51/05:1321 001 Ille I8 b.) La b.) EFTA01260346 CLEARED TESPAR n voliXIX WAD SUOSIOLARE MACE SERVICING YOUR ACCOUNT Elem. Steams & Co. Inc. Des Sewn. Seattle CO. BEAR 383 Madson Aven07 Now York. Now Yak 10179 One 1.1•Atach Cm* WA OroRAR New Yen 112014110 STEARNS FINANCIAL TRUST CO INC 20 a 35 s'AisweNT PElb00 My 30.2005 ThRoc... August 31.2005 Transaction Detail (continued) Are, NT ALARM 'AREN'T.* Walt On fie INTEREST (mottmed) ugT STATEMENT Ali 29.2005 DATE CESCROOLN COWIN RITE nl UST MONO CRUD MOOLAT 08.25.05 ALlERNATIVE LOAN MUST 12667'066 1.6400 49.677.40 SERIES 2004.3008 CUSS 1.A-8 DUE 02/25/2036 1.640 MEREST PAYMENT 0825-05 TOTAL 5796.752.76 REPURCHASE ANO REVERSE REPURCHASE TRANSACTIONS -n with Bear,Stea ms& Co. Inc. SETEIDWINT TRADE DATE DATE TRANSACTIOTT DESOIRDON SDAIDUCL6P 01111111TY DEBIT SCS4T DttE0 A1A:ULT C 06/01(05 JOURNAL FEDERAL NATIONAL MEG ASSN in SERIES 352 CUSS 1 07/01/34 0001 Dig 33186 Al RIM 3136Fata -8.299.585 5.923.000.00 REPO AGREEMENT 06J01/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136KEC9 8.299.585 6.37300.00 SERIES 352 CLASS 1 0,001 DUE 07 1/34 MEM F18133 /072 82 TERM REPO AGREEMENT r 08/01/05 JOURNAL FEDERAL NATIONAL WO ASSN SERIES 353 CLASS 2 5.000 DUE 07/01/34 3136FCID6 9.035.569 1.737.000 .00 MIA F1813372 AZ TERM REPO AGREEMENT 06/01/05 JOURNAL FEDERAL NATIONAL MIS ASSN 3136FC105 4.035.589 1450=0 SOLES 353 CUSS 2 5.000 DUE ovous. FIN F2133188 Si ZVOTSEOCIN9- ANGS REPO AGREEMENT 08/01.05 JOURNAL FEM. NOME LOAN MTG MOPE/510109 31262YDNIS 8.973.456 SERIES 227 CUSS IC, 5.000 DUE 12/71/34 nrm F21CO235 A2 TERM REPO AGREEMENT 027 011101.111.1020 001 WON I8 IJ EFTA01260347 =ARM 114403001 vonawr Owe $0.135Coure orna SERVICING YOUR ACCOUNT Bear. Steams 8 Co. Inc. Ser. Rams Sear/lei Cr?. BEAR 383 Madison Avenue v v Oit1Itutugh Cuw licrth v1 11101.3859 STEARNS 10179 FINANCIAL TRUST CO INC 21 ins nommen PER100 JUy 30. 20G5 Trinouom &gist 31.2005 Transaction Detail (continued) ACCOMr .weal TADAvtli wawa On Fee REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMENT My 29.2(05 =MAW Ma Grt DAll TPANSACT1311 DES051111011 311.010U0 519 CONIVICI DDY10•00120 ceacc Ammo 08/01405 JOURNAL Mt MSC LOAN TAM CORP•510109 31282YDN6 4.973.466 sockopo.co SERIFS 227 CLASS 10 5000 DUE 12/01MA , C) Fn. F2133316 Al REPO AGREEMENT 06/01.05 DELIVERED UNITED STATES TREASURY NOTE 912828DY9 40.020.003 10.025.000.00 OM 05/15/2015 4.125 4 5 DUE 05/15/15 -n 08431/05 REIXNED (till F2030421 I2 TERM RESALE AGREEMENT UNITED STATES TREASURY NOTE 912828(82 73430.00D 73,001000.03 DUE 07/312007 3.875 C 3.875 DIE 07/3107 RDA F2130908 Al in 08.01/06 MEREST RESALE AGREEMENT FEDERAL Duncan MEG ASSN SERIES 352 CUSS 1 3136ECKC9 20453.71 401E 07/01/2034 0.001 RDA F1813372 82 REPO INTEREST 0601/05 MEREST FEDERAL NADCNAL MTG ASSN 3134/0106 5.465.75 SERIES 353 CLASS 2 DUE 07/01/2034 5.000 r 08.01405 INTEREST HEM 41813372 A2 REPO INTEREST TARED STATES TREASURY NOTE 9128280V9 6.970.16 DUE 05/15/2015 4.125 FM (2030421 A2 RESALE MEREST 08711/05 JOURNAL WEED STATES TREASURY NOM 9128281:N9 4.000.000 4.931.250.00 ATM (2230854 Al MTSEOCIN9-ANGS 4.125 DUE 051105 REPO AGREEMENT 927 00001,06:1120 C01 riPM rn I S Ta EFTA01260348 0.EARED ThROcK44 rs waxy OEWO WWWERy OFFICE SEW/ICING YOUR ACCOUNT Ow Swans Swabs Co'p Bear. Steams & Co. Inc. BEAR 363 MOOson Avenue We LWOW CRAW An 111014SW STEARNS Now York New York 10179 FINANCIAL TRUST CO PdC 22 re ke STATEWEN1 P€R00 Jur/ 30. 2005 THROW3.1 ALOUX ET, 2005 Transaction Detail (continued) ArWitt mutat, PM TAXPAYER NWOW REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (=Mufti) LAST STATEMEM? Aty 29, 2005 SEITIAIRERI MAO( OAR out maxsienew onawren Semiquanr CUMIN OEM MEXIXT aeon WWII OWL% Jouremm. FEDERAL!unmet MEG ASSN 3136FAM6 4.677.451 3.562003.00 SERIES 329 CLASS PO DUE 01/01133 STRP 0 2/05 Menu FITM F1933197 AZ TERM REPO AGREEMENT FEDERAL NATIONAL MTG ASSN 3134FAWE6 14032355 10.665.000.00 SERIES 329 CUSS PO -n DUE 01/01/33 STRIP F1933193 Al FITM TERM REPO AGREDAENT C 08/12105 JOURNAL FEDERAL NATENAL MEG ASSN SERES 329 CLASS P0 3136EAWE6 .18709.806 13,401,00800 in DUE 01/01/33 STRIP Fnm RPO F2243262 D1 AGREEMENT 06/12.05 JOURNAL FEDERAL NATTONAL MTG ASSN 31318=9 5637.070 5.060.000.00 SERIES 346 CLASS 1 CUE 11/01/33 FEINT F1933203 CZ TERM REPO AGREEMENT r COT 2105 JOURNAL FEDERAL NATIONAL MEG ASSN SERIES 346 CLASS 1 DUE 1931/33 Firm F1933195 AZ 3136FCBC17 13.274.141 10.120.000.00 TERM REPO AGREEMENT 08/12/05 JOURNAL FEDERAL NADONAL MEG ASSN 3136FCBC9 .19.911,211 14274.000.00 SERIES 346 CLASS 1 DUE 11101/33 FITM F2243262 Cl REPO AGREEMENT VPOTS£00- 019- ANGS 2105 JOURNAL FEDL NOME LOAN MEG CORP•510109 31282117/401 18648.443 3.788.00000 SERES 227 CLASSIC 5,000 CUE 12/71/34 RIM F1933203 A2 TERM REPO AGREEMENT 027 03001/03:1328 001 M036 rn 8 b.) T.2 $.‘ EFTA01260349 =ARCO inflaaer ne vraLLY Coma SladOlarf OFFICE SERACIOG YOUR ACCOUNT Bear. Stearns & Co. Inc. Ow. Sews Storlant Cap. BEAR 3133 Manson Mena r • '‘ ••• • Cr* Wrote?. Cara Ranh Er Pa. r 11201.38Se STEARNS 10179 FINANCIAL TRUST CO INC 23 as STATimeNT Pas00 lug 30.2005 114tOcCn August 11.2005 Transaction Detail (continued) ACCO.Prt SUMER TAXPAYER WAWA On Fie REPURCHASEAND REVERSE REPURCHASETRANSACT1ONS (continued) INT STATIVEKT .L' 29.2005 SCl ITher MCC DAII CPA 1W6µ11911 DESCRIPPON SVIMOUCIASS, Willa OM MOM CALM MOUNT 06/12/05 JOURNAL FEN. HOME LOAN MTG COIIPAS10109 3128287086 -11Lea.443 3.938.000.00 SERFS 227 CLASS IC 5.000 DUE 12/01/34 FILM F2243262 Si 0 08/12/05 JOURNAL REPO AGREEMENT FREDDIE MAC CMONERIES 2586 SC-PO FUR 3139513H8 .1471.600 102000.00 3, 11 DUE 077109 -n C6712/05 JOURNAL 11119.4 F2243264 Al REPO AGREEMD0 FREDDIE MAC CIAO/SERIES 2886 3139S12N8 3.471.600 197.000.00 SCAO FUR C 3.911 DUE07115/19 FILM F1933201 AZ in M12/6 PAIR/ML TERM REPO AGREEMENT FED HOME TONI TATGCORPOS10110 SERIES 228 CLASS 10 31282=9 16,861.393 2818.000.00 6.000 CUE 02/01/35 FITM F1933203 82 TERM REPO AGREEMENT 08712/05 KORNAI. FEDL HOME WAN IATGCORNS10110 3128211611 .16.861393 3.124.000.00 SERIES 228 CLASS 10 6, E ins r ON11/05 RECENED HIM 000 DU F220 432 2.7062 Al REPO AGREEMENT UNTIED STATES 1REASURY NOTE 912828(82 51000.000 58.000.060.00 DUE 07731/2007 3.875 3,875 DUE 07/31/7 WM F2240734 Al RESALE AGRWkNT Cetl2F05 DELIVERED UNITED STATES TREASURY NOTE 912828(82 43.000.000 73.000.000.00 CUE 07/31/2007 3.875 SPOTSEOCIA19- ANGS 3.875 DUE 07/31/7 FRU F2130900 A2 TERM RESALE AGREEMENT CAI 014M.0513A1 031 En IJ V.) EFTA01260350 C.EAREO THROJCal ITS wm01.1. Poe WSSCOJIY OFFICE SERVICING YOUR ACCOUNT Bear. Sterns b Co. Inc. Beer. Sian% Saute Orr, BEAR 383 Madison Avenue Weratal Came 'Arm 2014559 STEARNS 179 Ms FINANCIAL TRUST CO INC 24 das STATEI447 Stie00 14 30. 2005 ilittautai Alum 31, 2005 Transaction Detail (continued) ACCOU47 Nivea to:went Mu/MR Con* REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATemtwi 14 29. 2COS SETIMAENT MAX son DATE TWISICTICH a5059101 tr1.010UOJSIP OUANTITI 0E mar CROW AMMO C6/12,05 INTEREST FEDERAL NATIONAL MFG ASSN 3136FAWES 10.980.85 SS 329 CUSS PO DUE 01/01/2033 0.000 FITM F1933197 A2 0 08/12/05 MEREST REPO MEREST KOMI. NATIONAL WC ASSN 3136FAVE6 32.942.56 SERIES 329 CLASS PO SIRIP DUE 01/01(2033 D.CCO 1 1 Film F1933193 AZ REPO INTEREST C 08/12/05 EVEREST FEDERAL NATIONAL MTG ASSN SERIES 348 CUSS 1 3138/C8C9 15.598.86 in DUE 11/01/2033 EOM F1933301 C2 REPO INTEREST 0.000 06/12106 MEREST FEDERAL worm MTG ASSN 3136FCBC9 31,197.71 SERIES 346 CLASS 1 CUE 11/01/2033 0.000 FINA F1933195 A2 REPO MEREST 0611205 INTEREST MX HCSIE WAN MG CORNIS1010) 31282MN6 11,677.56 r SERIES 227 CUSS 10 OUE 12.01/2034 FITM F1933203 AZ REPO MEREST LOCO CEItI2.105 INTEREST FREDDIE MAC CMOISEMS 2986 3139512NR 607.31 SC-PO FLIR DUE 07/15/2019 3.911 NM F1933201 A2 REPO INTEREST 9170TS£00- 019- ANGS 03/12/05 MEREST FEDL HOME WAN MTG CORP/S10110 312821091 8.687,27 SERIES 228 CLASS 10 DUE 02/01/2035 6.000 NM F1933203 82 REPO INTEREST 027 02471.06:13:211 001 ION 8 b.) IJ 00 EFTA01260351 CUAASD DIPO14,1 RS Yer0.1Y ~C0 StaSOARY OFFICE SERVICING 11249 *cam Beer. Steams & Co. Inc. Mr Swans SmuMs BEAR 383 Modismi Avenue 10179 Oro 9~0 Center urn • '12014859 STMRNS FINANCIAL TRUST CO INC 25 ($ 95 MATTI/ENT moo:, L4,30.2005 /990..0•I Aug.nt 31. 2005 Transaction Detail (continued) ACCCUIT NitafitER TAX, AvER NIAMER On rile REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (confirmed) UST STAITteST My 29. 2035 SIIIUMMT MOE MR CAN IRMIAC11011 DISCR107139 SY.400~911 OVANRY DEW AMOUNT CRIDI1 ~IN 0821295 INTEREST MOER STATES TREASURY NOTE 912828(62 65.713.89 DUE 07/3112007 3.675 FIDA F2130908 fl P5MIT INTEREST 0 08/15.05 X/UR)01. FAME IAM CMYSEMES 2003-52 6.540 FUR 3.640 DUE 07/25117 313930536 7,436.499 RIM F1953204 A2 -n 08/15/05 JOURNAL TERM REPO AGREEMENT FLAME MM 0.40/92MES 2003-52 K5410 FLTR 31393C538 -7.436.499 384.000.00 3.540 DUE 07/25/17 FM F2273445 Al REPO AGREDAENT rn 08115/06 =ANAL FANNIE WE MOSIMIES 2003-5i KSVO FUR 3,840 ME 07/25n7 313930538 9.464.635 458.000.00 MIA F2273375 Al REPO AGAWAM .13LIRTML FANNIE IME MIOMERIES 2033-52 31318C538 9.464.635 509.000.00 654/0 FUR FIIM Ø DUE 0725217 f 1953202 AZ r OEV15.95 JOURNAL TERM REPO AGREEMENT GOvERWENT NATENAL PAM ASSN 38374F087 96903030 2333.00300 SERIES 2004.5 CLASS PS 3.520 DUE 02/20M3 FITM F2273377 Al REPO AGREEMENT 08/15/05 JOURNAL GOvERNIENT NA11314AL MTG ASSN 38374FDB7 26.403000 2.440.000.00 SERIES 2004-5 CLASS PS 3,520 DUE 02/20133 LPOISE00- lA19- ANGS FTTM F1943303 A2 TWA REPO AGREEMENT OZT 0110%135.13:211 001 VMS EFTA01260352 0.1AXID TKROVOI ITS "MOLLY OINGO SuSSOAir/ OFFICE SERVICZW YOUR ACCOUNT Pa. Sion Sees En Bear. Stems & Co. Inc. BEAR 383 Madson Avenue Y Y 10179 on Iteactach fags Ate 1T3D1.Aµ9 STEARNS FINANCIAL TRUST CO INC 26 of STATEIRE8T PPM My 30.2605 TmotOUOm Atqat 31.2005 Transaction Detail (continued) ACCOLNT WIAJOER TAXPAYER sultan On file REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (contirued) LAST PATENENT My 29.2005 untnAim flta DAR DATE TRANSACTOR DESCRPTON SAM:ECUS* OWN IIIT can N.Cium MOO /WOW 08/15/05 DOWERED uNiTED STATES TREASURY NOTE 912828(82 48.000.000 58,000,000.00 DUE 07/31/2007 3.875 . DUE 07/31/07 3,_875 MAI F2240734 /42 WPM RESALE AGREEMENT 08/15/05 RECEIVED UPWED STATES TREASURF NOTE 912828(92 68.000.000 68.085.000.00 DUE OW31/2007 3.875 3.875 COE 07(31/D7 -n FUN F2270582 Al RESALE AGREEMENT 08/15.06 MEREST MOW ME CMO/SEMES 2003-52 31393C538 1.633.32 6540 FUR C DUE 07/25/2017 EOM F1953202 AZ 3.640 in REPO MUTEST GOVERMENT NAMS4AS SATOASSN 38374F087 8.007.27 z 08/15/05 INTEREST SERIES 2CO4-5 CLASS PS DUE 02/20/2033 3.520 FUN F19433O6 A2 REPO INTEREST 0815/05 INTEREST UNITED STATES TREASURY POE 912828E82 11,116.67 DUE 07/31/2007 3.875 nu F2240734 A.2 r 03116106 ADTAINAL RESALE INTEREST CREDO( MAC CIAWSEMES 2868 SC.40 ELK% 313951288 4.858.023 3.728 DUE 07/15/19 ETTA F1783380 /42 TERM REPO AGREEMENT CIV16.05 10URNA1 FREDDE CIALSERIES 2888 3139512148 .4.856.023 259.000.00 SC40 FLTR 3.728 DUE 07/15/19 SPOTS£00- 019- ANGS WM F2283190 Al REPO AGREEMENT 08/1605 JOURNAL 114110 STATES TREASURY NOTE 91282801/9 5.000.000 4.931.250.00 FIIM F2230654 A2 4.125 DUE 05/15/15 TERM REPO AGREDIENT 027 0001/06:11111 08 1/080 En 8 b.) TJ O EFTA01260353 cisac0 ”feCuam resew, ConiD SvISIDWir OFFICE SERVEING MR ACCOUNT Beet, Steann & Co. Inc. 8 Stem Sacules COM- BUR 383 Madam Avenue Ors Vexed One Noe' tredep. tine Vat lInt-7459 STEARNS New York. New York 10179 FINANCIAL TRUST CO INC 27 S 31 STATIWEre Pereco .11.0) SO. 2005 Thattc. AuDJU 31.2005 Transaction Detail (continued) Are, tit uvaER TAx.A,ER %W&R Cr. NO REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) tai STArruFc M7 29. 2035 Ida DAN OAT( rEARMOOR OCSCRIMDN SYP.e0U0.60. °Minn, Dart AMOUR CHAT AMOUNT 08/16/05 KEENED UNTIED STATES TREASURY NOTE 912828EE6 5.000.000 5.000.000.00 DUE 08/15/2015 4.250 4.250 DUE 08/15/15 RN F2290432 Al 0 08/16836 MEREST RESALE AGREEMENT UNTIED STATES TREASURY NOTE DUE 0N152015 4.125 9128280V9 510.93 HIM F2230854 A2 -n 08/17435 DELIVERED REPO INTEREST UNITED STATES TREASURY NOTE DUE 08/15/2015 4.250 912828(E6 4.000,000 - 5.000.000.00 4.250 DUE OW 5/16 C TOM F2280432 A2 TERM RESALE AGREEMENT in 08/17/05 SOURNAI. MATED STATES TREASURY NOTE ARM F2290949 Al 4 90 250 DUE 0ME8/15/15 912828EE6 4.000.000 5.000.000.00 911 AGRE E NT 08/17/35 DELNERW UNITED STATES TREASURY 601E 9128280)2 48.020.000 68.086.000.00 01107/31/2007 3.876 3.875 DUE 07/31/07 AMA F2270562 A2 TERM RESALE AGREE/103 r 06/17/05 KEENED tINRED STATES TREASURY NOTE WE 07/312007 3.875 DUE 07/31007 3.875 912828E52 78.000.000 78.185.000.00 FTIM F2290947 Al RESALE AGREEMENT 09/17/05 MEREST UNITED STATES TREASURY NOTE 912828EE6 452.78 DUE 0605/3015 4.250 FM F22(03432 A2 RESALE MEREST 6170TS£00- 019- ANGS 06/17/06 MEREST =TED STATES TREASURY NOTE 912328(82 10.47733 DUE 07/31/2037 3.875 FTIM F2270662 At RESALE WETTEST 027 09,01M6.11:21 001 VMS I8 b.) IJ 4.• EFTA01260354 CLEARED THRCuati RS visOLLY OPAIDD SueSCIARY 0FFICC SERVING YOUR ACCOUNT eau Limns Swan On Bear. Stearns & CO. Inc. BEAR 3B3 Madison Avenue 10179 Cyr IdePtcsth Caw RAT 111014169 STEARNS FINANCIAL TRUST CO INC 28 o Ds STATEREAT mace my 30.2005 TDRCRON AL9iU 31.2005 Transaction Detail (continued) ACCOUNT KUPER TAXPAYER WRIER On Pie REPURCHASEAND REVERSE REPURCHASETRANSACTIONS (continued) UST sumen Mg 29.2005 SEMEWIIT TRAM 0A1E DATE mudatei CESCEPTAYI SYM•JUCUSIP COMM OM AXIOM CREW M.0071 08/1105 MOLE GOVERNMENT NADDNAL AVG ASSN 38374F6T6 24.151.766 SERIES 2004-30 CLASS SU 3.770 DUE 02/20132 MU E1783380 C2 TERM REPO AGREEMENT 08/18105 JOURML GOVERMENT NATIONAL MID ASSN 38374F676 -24.151.766 1.216 0.53.00 SERIES 2004-30 CUSS SU 3370 DUE 02/20/32 -n centres JOURNAL frill F2303215 Al REPO AGREEMENT FEDERAL NATIONAL MEG ASSN 3116PCEC0 .18.634.614 13299.1200.00 SERIES 3S2 CUSS 1 C 0.001 DUE 07/01/34 FIRM F2303162 Al rn 09/18/05 MUM& REPO AGREEMENT FEDERAL NATICRIN. MID ASSN SERIES 352 CLASS 1 313610CES 19534.514 13.954.000.00 0.001 DUE07/01/14 ATM F1993127 AZ TERM REPO AGREEMENT 0811605 INICREST fICERAL NATIONAL MEG ASSN 3136FOCCS 43.617.88 SERIES 352 PASS 1 DUE 07/01/2034 0.001 r MA F1993127 A2 REPO INTEREST UNTIED STATES TREASURY NOM 912828EES 5.000.001 5.000.00040 08122/95 JOURNAL EOM F2290949 A2 4.250 DUE CEA 5/15 TERM REPO AGREEMENT 08/22106 JOURNAL UNITED STATES TREASURY NOTE 912828EE6 -15.000.030 15.037.500.00 RDA F2340736 Al 4 250 DUE 013/16t1 OSOTS£00- 019- ANGS ittP0 AGREEMENT 5 08127/05 RECEIVED METED STATES TREASURY NOTE 912828E82 68,000.000 88.170.000.00 DUE 07/31/2007 3.875 3.875 CUE 07/31107 FITM F2340734 Al RESALE AGREEMENT 017 00501X1103111 E01 VMS rn 8 IJ IJ 10 IJ EFTA01260355 CLEM= Tlaarar OS way.sy MAIM StASOORY OFFICE SERVICING YOUR ACCOUNT Beer. Steams & Co. Inc. Pm Swan Seculla Cap BEAR 383 Madison Avenue Ore Itaroach Order Haat STDIRNS New Yak. New York 10179 CIAL COAL TRUST CO INC 29 ass STATImela 1000 My 30. 2005 TaPOUGH N.9.151 31. 2005 Transaction Detail (continued) ACCOUNT Water Trocppyra wawa On Tie REPURCHASEAND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATO/na My 29.2005 WELDER? IRAN DUE MAYSICOOP DESCR09109 SYPISOUCLEW Ouminn 018E MOM! CREW MIOUM 08/22A)5 DELIVERED VATTED STATES TREASURY NOTE 912828(82 -78.003400 78.195.000.00 DUE 07/31/2007 3.875 3.875 DUE 07/31/07 FITIA 12290947 A2 TERM RESALE AGREEMENT 0 08=05 INTEREST UNITED STATES TREASURY NOTE DUE 08/15/2015 4.250 912828EE8 2.348.81 FITM 12290949 A2 REPO INTEREST -n 08/22/05 MEREST UMTED STATES TREASURY NOTE DUE 07/31/2007 RIM 12290047 AZ 3.875 912828E82 310344.45 C RESALE INTEREST rn 09/2805 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 3,340 DuE 02/20/33 FIRM 12383190 Al 38374=7 -28.440.000 REPO AGREEMENT - 08/28/05 JOURNAL GOVERMENT NATIONAL MG ASSN 383741087 28.403,400 2.333.000.00 SERFS 2004.5 CLASS PS 3.340 DUE 02/20133 HIM /2273377 A2 TERM REPO AGREEMENT r 08/28105 DELIVERED UNITED STATES TREASURY NM DUE 07/31/2007 3.875 DUE 07/31/07 3.875 912828E82 458000.003 seno.oco.00 FONT F2340734 A2 TERM RESALE AGREEMENT 08/28/06 MEREST GOVERNMENT NATIONAL MG ASSN 383741067 2,884.51 SERIES 200E-5 CLASS PS DUE 02/20.2013 3.340 FIRM F2273377 A2 ISOTSEOCIA19- ANGS REPO MEREST 08/28105 INTEREST UNITED STATES TREASURY NOTE 912828E82 DUE 07/31/2007 22447.59 3.875 1234073 ST4 A2 FinARESALE INTERE 02? 0.0i/091110 001 VON I8 b.) b.) EFTA01260356 CUM» THROV3m AMOuttf OWNED SUDADIARY OFFICE SERVICING YOUR ACCOUNT thw. Slen Seems Cap. Bear. Steams & Co. Inc. BEAR 383 Madison MCI= Y N «Yoh 10179 Ore lenetrat Cater MOON 11201.3419 STMRNS FINANCIAL TRUST CO INC 30 to n STA-DrenT DEWS. fl y 30.2035 THROuOm Augat 31.2005 Transaction Detail (continued) ACCD-AT AiedellA TAAPAYER NADER REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATTWNT tog 29. 2005 SEMOVINT TRADE DATE DVL IRMISACTEEM DESCRIPTON SOMOI/CUSP ~en OW ~WI CUNT SNOW 06/29/05 =MAL FEDI 11014 LOAN WO CORNIS10109 31282YON6 466,211 96.000.00 SERIES 227 CUSS C 5,000 OUE 12/01/34 MIA F2103229 AZ TERM REPO AGREEMENT 03/29105 KillMAL ~ONE MAC CIAO/SERIES 2866 3139512/09 4249.152 SC-60 FLTR 3,728 DUE 07/15/19 FILM F2413293 Al -n 08/29.05 JOURNAL REPO AGREE/ENT FREDDIE MAC CIAOSENES 2886 SC-VO FUR 31395121M 3.393.12e 162,C00.00 3.728 DUE 07/15/19 FDA F2243284 42 rn 08/29(05 JOURNAL TERM REPO AGREEMENT FREDDIE WC OÄYSERIES 2888 SCUD FUR 31395/2118 4.856.023 258.0MA:0 3,728 CUE 07/15/19 RIM F2283190 42 TERM REPO AGREEMENT OnraileS INTEREST FEDL HOME LOAN MTG CORP/7510109 312821986 307.52 SERIES 227 CLASS ID DUE 12/01/2034 5.000 ATM F2103229 Al r 08(29.05 «EST REPO INTEREST FREDDIE MAC CIACVSERIES 2886 3139612118 324.01 SC.10 FLTR OUE 07/15R019 3.728 FITM F2243264 42 REPO ~EST 08/29/05 INTEREST FREDDIE ?MC ~SERIES 2886 3139512118 3513.10 SC-VO FUR ZSOTS£00-019-ANGS DUE 07/15/2019 3.728 FITTA F2283190 0.2 REPO INTEREST 027 040itettati COI En 8 b.) IJ V p EFTA01260357 CLEARED n+Roctii Os %%MOLLY 0~.0 Camay FCE SERVICING YOUR ACCOUNT Beet. Steams b Co. Inc. Bet Sun Seas Ca, BUR 383 Madison A‘en.:e Ore ~nth Craw Piarm 11201.33.11 STD‘RNS FINANCIAL TRUST CO INC 31 symactt rime luy 30.200S ~OUCH Aucl.n/ 31.2005 Transaction Detail (continued) ACCW.T mane TAYSAnR 'AMBER REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) mar stmuton My 29.2005 SElltbar Wet DAT! DM litu4SACTKIN OISCRPTIDN SHAUCA,CLISP EilAUTIY ODITT soma 01:[M ~ODIC 08131/05 JOURNAL UNITED STATES TREASJRY NOTE 912828/113 15.000.000 15,037.5430.00 REM F2340736 A2 4,250 DUE am 5115 TERM WO AGREDAENT 0 08/31/05 JOURNAL UNITEDSTATES TREASuRY NON NW F2430998 Al 4.250 DUE08/15/15 912828EE8 -20.030.000 20.225.000 .00 REPO AGREEMENT 08631406 WOWED UNITED STATES TREASURY NOTE 912928EF3 88.000.000 58.255.000.00 DUE 08/3172007 4.000 4.000 DUE 06/31/07 EOM F2431000 Al RESALE AGREEMENT m 09/31/05 MEREST ~ED STATES TREASURY MITE DUE 08/1512015 FM F2340738 A2 REPO IV-FREST 4.250 912828EE6 11.925.57 TOTAL 5.507}e,4!µ,41 11419.1144,1~ MISCELLANEOUS r µR TODAY INUCIACitel DISCRPTION OMIT Minute Mat MOUNT 043/01/05 JOUPECAL FR CAMY NC 0214212641 134,475.00 06D2Ø JOURNAL ER OMDY NC 0214212941 45.575.00 03/03/05 JOURNAL FR CMDYNC 0214212841 29.425.00 08.415/05 CORRAL FR [MDT AC 0214212541 8.673.61 £SOTS£00 IND ANGS 0~05 a FR CLIMAX 021-S2128-F1 128.754.50 08,09/05 FR MOYNE 021.52128.41 83.571.00 021 0•01.0513:20 COI YOU SPLEZZOO-Via EFTA01260358 CLOSED 1,1,10UCH n ~Car 0^,..0 87~104ARY OFFICE SERYCING YOUR ACCOUNT 5».irns Stosbes co. Sete. Steams & Co. Inc. Ow ~a, Watt Abet BEAR 383 5.8.3060n Avenue 10179 2014458 STEARNS FINANCIAI. TRUST CO INC 32 am irATEVExt ~CO My 30. 2005 111110U071 Rugal 31,2005 Transaction Detail (Continued) AD:cvn %w0« TAxPAYM µAlErt On Ile MISCELLANEOUS (continued) LAST STATEMENT Mi 29.2005 OAK 1A00AY 111MISAClION Et5C85•11}i CMMOW caw mama OEV11105 JOMNAL FNMA.30yRITHMAIGTD 341.250.00 SETT.C8/04 5.500 DUE 08101134 MBS NET 08i11/05 0 08/11105 JOURNAL MIA 3011 GM SETT. 0805 5.030 DUE 0801435 24.809.37 MEG NET 08111/05 -n 08/12/05 OW 5/05 JOURNAL KURNAL T00MDYA10 021-52128-F1 FR DAM MC 021.5212541 183 978.50 183.815,50 oeneros TOCM3Y NC 021.5212841 28.404.50 in 082406 C0125/05 JOURNAL IOURNN TO CMOY MC 021-52125.cl ALT OS DR FEES PART A 130.387.50 2.450.00 08/25ø05 JOURNAL FR CNOY NC 021.5212841 7.250.00 08/29.4)5 JOURNAL FR CM)Y AC 021-5212841 94.837.50 08/30/05 JOURNAL FR ØA4 021.5212841 112,941.50 TOTAL 1-345310.50 51.174.993.98 r PSOISE00- IA19- ANGS 027 090195.13'.29 031 T71 8 b.) IJ a1 EFTA01260359 C1EARED niIiCoGn ris 20.OU3 Oman SySiCaille OFFICE SERVICNG YOUR ACCOUNT Om% Stews Seams, co'. BEAR Bear. Steams & Co. Inc. 383 maotson Avenue One Wev220. Cans /40201 112014ln STEARNS 10179 FINANCIAl. TRUST CO INC 33 a n STATOR:12r P0200:3 NU 30.2005 rpROLGH Awns 31.2005 Ann. ter onfeR Trades Executed Pending Settlement 7020AYER sweER On Fat LAST runrune Juts 29,2005 SMARM MIX an DM1 snmaxs. Osuntry Pitt Olen ALICIPIt PAW maw 09/01/05 0843105 BOUGHT umrED STATES TREASURY NOTE 912828EF3 18.000.000.00 100.1171 18,023,082.70 OUE 03.731/2007 04.030% FA 28 0988280293099 mu) 3.938% TO MATURITY 0 GM REF • G2433243 Al 09714/05 (Antos BOUND nawxymnimom 5483090 50.000.000,00 98.1718 49.085.937 60 SETT.09105 DUE 0970172035 05.000% -n 09/144)5 08117/05 SOUGHT 0987280211332 REF * 2036081157230020 BS FNMA-30YINFIAMTG13 5483090 50.003000.00 98.3826 49.191.406.25 C SETT.09/05 coE 09101/2035 099 05.000% in 09/14/05 0319/05 BOUGHT 098 7280211 REF • 2005081757170000 BS DEMA.30YRIFMAT3510 5483090 50.000.000.00 96.4921 49.248.09.1.75 SET7.09/05 DUE 0601/2035 05300% 0987797115099 REF # 2005081957030000 BS 0971405 08131/05 BOUGHT FRTAA-30YRIFNMATGTD SA83090 10.000.000 .00 993937 9.909.375.03 SETT.0905 r 000 090112035 05.040% 0987797115099 REF • 2005083157020200 BS 09/14/06 08/0305 SOLD FNMA&Ovii0n044)611) 5483090 -10.003.00000 98.2031 3820.312.50 SE1T.09/05 DUE 09/01/2035 05.000% 0987018110209 REF # 2005080357150000 BS SSOTS£00- 019- ANGS 09714/05 06/11/05 SOW Fimm-30YRDP1440GTD 5483090 95.1562 49.078.125 .00 SETT.0605 DUE 09701/2035 05.000% 0987000610099 REF • 2005081157170000 BS 027 0101051328 951 vl•S rn 8 IJ La --J EFTA01260360 CLF-APED THROUGH ITS MI4OLLY &AIMED SLUSH:MA.4Y OFFICE SERVICING YOUR ACCOUNT a4H.5eunn S•011001 CLIP Beet. Steams & Co. Inc. BUR 383 Madison Avenue was Cato liael . ma. reit 11101.31160 STEARNS New York New York 10179 FINANCIAL TRUST CO INC 34 or STATEMENT PEBCO AA) 30, 2005 114400314 August 31. 2005 AGLOW! NJWSElt Trades Executed Pending Settlement (continued) MASKS SINKS On e• LAST STATEMCNT Juy 29. 2DOS SSTIUSEMT 74.10( DATE OAR 711.412•411041 etscesnot SYMBOLCOSIP OLLWIThr Sita DEW WOW CREDO AYOLHT 09/14/05 08/17/05 SOLD FNMA-30YRONIANDTIA 5483090 -50.000.000.00 98.3007 49 150.390 .83 SETT.09tOS WE 09/01/2035 05.000% 0987016110099 0 0921405 OW19/05 SOW REF 0 2005081757260000 BS INFAA.30YR(FNMAATD SETT.09/05 5483090 -50.000.000.00 98.5507 49275.390.63 DUE 091D1/2035 06.000% -n OW14/05 08,03/06 5011/ 0987021011099 REF • 2005081957090000 85 FNW.-30YRFNIJA)GTO 5/83112 -1.000.000.00 100.2851 1032851.56 C SC17.09/835 DUE 09.01/2035 05.500% rn 0987016110099 REF • 2005080357170000 BS z 09/14/06 C8/0105 SOW FN1.14-1CNRIFA74061 0 SETLOW/05 cue me79mos 05.500% 0987 7115099 5683112 439.000.030 .00 1002656 99.262.%8.75 REF • 2C05080157190000 BS 09114405 08/15/05 BOUGHT FNA41-30YR(FNIANGTD 5683154 50.080.000.00 101.9609 50.980.468.75 SE11.0605 r DUE 09/01/2035 06.000% 0987260211099 REF 0 2006081557120000 BS 09214405 08/23/05 B0.1GHT R•41-307R(FNMA)01D SA83154 50.030.000.W 102.0468 51.023.437.50 SITY.09.05 DUE 09631/2035 00000% 0987016110332 REF * 2005082357020000 85 _ OW14/05 06t18/05 501D F.44.30YR(11041)810 5/83151 -50.000.000.00 102.0859 51.042.966.75 SETT.09/05 DUE 09/01/2034 06.000% 0987280211099 REF • 2005081657090000 BS 9SOTSECIO IN9 ANGS 027 C0,01.0503:21 031 8PLEZZOO- V.L.43 EFTA01260361 MARCO TROUGH MICtLy 04/010 SVOSIOMPY OFncE SERRCIN0 YOUR ACCOUNT Ow. Hers Setutte5 Con. Bear. Steam!. & Co. Inc. BEAR 363 Maxon Avenge v -t 0179 One ihrto, Cries *iv, 1201-3859 STEARNS FINANCIAL. TRUST CO INC 35 a 35 STATFANNT PrIe00 Jul/ 30.2305 ThOtOLCH August 11.2005 /CCCNIT KAMER ME Trades Executed Pending Settlement (continued) TAXPAYER .A.MIER UST STATIVEhT 3Ay 29.2005 rata TRADE DAR DATE ntudameN DESCR•IP3H SINOIOWISP OLIMITITT 7780E WC AMOUNT CREDIT WOLNI 09/14/05 08/23/05 SOW lart•VIDYR(FHW)GID 3A83154 .50,000.000.00 102.0937 51 046 875.00 SETT.09/05 DUE 09/01/2035 08.000% 0987260211099 0 TOTAL RES • 2005082357140030 BS $771.45.9.001.13 $39$419.14242 z The oxen twee 0 mmar .n any aw “wia -n C STOP' End o' Statement rn z -H r LSOTS£00- 019- ANGS 027 990195/328 001 sass EFTA01260362 CLEARED 0.00(.0.. RS vow:ELY coatzo summon OFFICE SERVICING Yale ACCOUNT Sew. Sinns kart*, Call. BOAR Beat. Stearns & Co. Inc. 383 Madison Avenue imam 10179 loom 0 0.4•Intecn Geer Nat 112013859 STEARNS FINANCIAL TRUST CO INC suismeiT eFROO Jul/ 1.2005 ACCOUNT ExECUTIVE GNMA GOVT BOND notar3H Kt 29. 2005 VISIT OUR WESSITE mne.bearsteams.com ACCOLt0 %nen What's In This Statement I ll TArok,ER hANSER On Fie LAST rArriare Are 30. 2005 Fnancial Summary 3 FINANCIAL TRUST CO INC Your Portfolio Holdings 4 CIO JEFFREY EPSTEIN Transaction DetaIl 7 6100 RED HOOK QUARTER Trades Not Yet Settled 31 STE 83 ST THOMAS VI 00802 m C Your Portfolio at a Glance Market Value of Your Portfolio in TOTAL VAUJE OF SECAIRME,S THIS PERIOD 3.204.048 Cali A Equivalent —IsSi.712 5359.965 LONG ACCRUED INTEREST 25.795 Reel .2CM.00) Income 33,442.681 NET CREW &MANCE 11.712 NI Curren mactet value NET EQUITY THIS PERIOD 83.241.555 NI LW statements Market vale r NET EQUITY LAST STATEMENT 3.835.574 CHANGE SINCE UST STATEMENT -594.020 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. 8SOTS£00-019-ANGS SI 's tureen 61G. efirrn72011 WAX? Of.1 XIS .“ onodd otet tialemtn Neal 5 n'sma lu rAr naves Sea envie lode IX WOWMal ate.ten 027 07000510O9 001 En 8 b.) IJ Lg. O EFTA01260363 CLEARED 114R0vCie ITS Ware OWNE0 SUSSIZT.ARY Sew. Szsere/ Sts Coll Cole tAtincech Cebu at &0Q4.t Se. von 11201-MSS FINANCIAL TRUST CO INC 2 an 0 5 STATEMENT BACKER IS PRINTED ON THIS PAGE m z -H r 6SOTS£00- 019- ANGS 027 07,0,05.10e0 COI NOS EFTA01260364 MIMEO 114901.04 ITS 110.0.1.1. 0A119) aussiouitv CfrICE SERviCeiG VOuR ACCOUNT Beat ken Sentlet Bear. Stearns & Co. Inc. One Wawa. Con lee. BEAR 383 Madison Avenue v 10179 Orme" Ps Vent 112014159 STEARNS FINANCIAL TRUST CO INC 3 du STArewera 11.1o0 kly 1.2005 TIIROUCIal My 29. 2005 AO:Octe tonlie NW Cash Flow Analysis Income Summary rAmvelt risraER 2145 PERIOD am PERIOD YEAR TO DATE LAST trremewr June 30, 2005 OpeningBalance 5359.965.49 U.S. Gait. Bond Inc 554.343.02 4.236.006.89 Govt. Agency Int. 497.289.51 4,609,911.42 Secunties Sold 854,425,255.21 Cap. Bond Mt. 175,881.40 968584.32 DivxlenisAnterest 1,211,189.06 Cse Balance Int. 779.00 4.324.51 Miscellaneous 1.113.665.86 0.00 1.163.243.87 Rents* Rowena. 914 Amount Credited 5856.750.110.13 Total 51.228.292.93 510,982,071.01 Bond Pt:these IN- .491.945.30 -5.640.653.48 -n Scintillas Bought Funds ?ignition -8.55.443,996.18 -71,745.00 Repurchase Int. Em. 0.00 -1.098.448.85 C MildendstImerest Charged -491.945.30 rn Miscellaneous Amount Debited -1.090,677.37 5.857 098 363.85 Portfolio Composition CashiCash Univalent 11.712 Net Cash Acuity -348.253.72 Your Portfolio Fixed Income 3.204.048 Allocation Chasing Balance 511.711.77 Total 93.215.760 r Cash & Equvalerei <10 Cash Balance Summary CeINAG Ct05114 kila•gun 359,965.49 11.711.77 090TS£00- O19- ANGS Net Cash Balance 5359.965.49 511.711.77 Filed tccme 99% .cnam Oro* Mbt bone roc., vat new wk.. The 'Warta Meru A els,KI. 1-u' M '•lWY natal .Ya C vov Rabb. 027 07,0011002 CO. V*95 rn I S IJ 1.2 10 IJ EFTA01260365 Waco NataXim RS AYECE-Ev OVAED SUBSIOARY OFFICE SERVICING TOUR ACCOUNT Bear. Stearns & Co. Inc. Sum, Secur.es Cap BEAR 383 Madison Ant Ore thuntech Cent( NanT 17 701-3449 STUNRNS New York. New Yak 10179 FINANCIAL TRUST CO INC 4 OW STA-EVRE.1 PERIM My 1. 2005 2Duar :My 29. 2005 Your Portfolio Holdings ECceNka ruultER CASH & CASH EQUIVALENTS MaAvER NAME, EAST STAMaNT June 30 2005 µAIM ESTIMATED CURRENT OESCRINION DrulIOUCUSP Ctuloirr pea VALUE AN)µL 114011 MIEN CASH BALANCE 11.712 TOTAL CASH & CASH EC/UR/ALENTS $11,712 0 FIXED INCOME -n Government & Agency Obligations ACCE DISCI:MR SEVERYJCUSEP ACCRUED (SWAM DORM Mt Conroy WARKET MU( MEREST MAK MOM vELD LV C rn GOVERNMENT NATIONAL MTG ASSN SERIES 2004035 CLASS SP DATED DATE 05/21/04 BOOK ENTRY ONLY DUE 12/2012029 3.770% 3837469/5 MRGN 14.635,047 5.8146 850.969 13,794 551.741 64.8368 FACTOR . .89865757 GOVERNMENT NATIONAL MTG ASSOC 38374GVSS MRGN 14,656.693 6.0902 892,616 SERFS 2C04-041 CLASS SE DATED DATE 06/23/04 BCOK ENTRY OY r DUE 05/20/2030 NL FACTOR . 81247898 FEDERAL NATONAL MTG ASSN 31393C2C6 MRGN 12,187.256 7.4140 903.557 4,793 431,429 47.7478 SERIES 2003-49 CUSS SW DATED DATE 0400103 BOOK ENTRY ONLY DUE 01252033 3.540% FACTOR - .50139372 Total Government& AgencyObligations 52.647.142 518.587 $983,170 T9OTS£00- 019- ANGS 027 07,5(1C0:1009 C01 VON Ln I8 IJ IJ LEN EFTA01260366 GLEAM THROW.. RS veil Owe Su•SOVAY OFFICE SERVICiNG YOUR ACCOUNT Rat Stet Seim On Bear. Steams & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 One lee tree tarn STEARNS FINANCIAL TRUST CO INC srAruna num July 1.2°6S THROW, July 29.2005 Your Portfolio Holdings (continued) .ACCO1,M. %MIER TV:PAYER Kieft ow LAST Steer Are 30. 2005 Corporate Bonds ACC ACCRUED ESINATED MIMEO OLSCRIPTCN COON rs rsrp NPR NOCE war MI Patel ARMS NOME MO 00 ALTERNATIVE LOAN TRUST 12667F066 MRGN 36.349,667 1.5321 556.906 7,208 648.842 116.5084 0 SERIFS 2004.3008 CUSS I.A-8 DATED DATE 12/27,04 BOCK ENTRY ONLY 0 DUE 02/25/2035 1.785% FACTOR - .90,374168 RATING:14000Y AAA SW AAA Z T Total CorporateBonds TOTAL FIXED INCOME $556.906 $3.204,046 $7.2013 $25.795 5648.842 51.632,012 B I C in YOUR PORTFOLIOHOLOINGSACCRUED INTEREST YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME 525.795 $1.632.012 YOUR PRICED PORTFOLIOHOLDINGS 53.215.160 Repurchase and Reverse Repurchase Transactions r with Bear,Stearns& Co.ine. outstanding asof date of statement PURCHASE/ REPUROUSE PRICNG PuROUSE PRICU ACCRUED NPO Olleff START an OAR Nen& (ma Alaim 0.0IP OtSCRIPTION YOU SOW GOVERNMENT NATITINAL MEG ASSOC (REPO) 06/27/05 OPEN 0.010 -1 47.112.874 38374F6T6 SERIES 2004.30 CLASS 3.770002/2032 _ YOU SOLD FEDERAL HOME LOAN MEG CORP (REPO) 06/27105 OPEN 0.010 .1 4.724.538 31395J2H8 SEM 2886 CUSS SC 3.9118 OM 5/19 YOU SOW FANNIE MAE STRIPS (REPO) 06/30/05 00/01/05 3.540 4.373.000 -20.053 -10.000.000 3136FOLC9 SERIES 352 CUSS PO 07101/34 Z9OTSECIO IN9 ANGS 027 07x08&1001001 21011 tgLiZZOO-V.L.43 EFTA01260367 0.EARED TH•CtiCei frs WoCELY OntE0 Sunity.ARy OFFICE SERVICING YOUR ACCOUNT teat Yawns Sera.% CO17. Bear. Steams & Co. Inc. BEAR 383 Mac son Ammo a 10179 O. Mouse. Con* Math issis 11101.3850 STEARNS mas FINANCIAL TRUST CO WC 6a STATEMEWT PE1O0O My 1.2005 THAWS. My 29,2006 Repurchase and Reverse Repurchase Transactions (continued) aouvr TAXPAYER quuSER On Flo with Bear,Steams& Co.Inc. outstanding as of date of statement (continued) LAST same" Mr 70.2036 eistexASO etetatou.se NOG PuROUSE MW ACISAID WO OtWAITY START WE OATS lit411 MOSS Wir Ina 88CM) 0.1W DISatira4 YOU SOLD FANNIE MAE STRIP (REPO) 06/30105 08/01/05 3.540 4737.020 4.465 40,003,CCO 3136FCL06 SERIES 353 CLASS I0 5.000007/01134 0 YOU SOLD (REPO) 07/12/05 08/12105 3.580 .10.686.000 -21.253 -30.000RCO 3136FAWE6 FANNIEMAE STRIP SERIES 329 CUSS PO 12/01132 YOU SOLD FANNIEMAE STRIP -n (REPO) YOU SOLD 07/12/05 08112/05 3.580 .10.120.000 -20.127 -20.000.000 3136FCBC9 SERIES 346 CUSS PO FANNIEMAE STRIP 11101133 C (REPO) 07/12/05 08/12/05 3.583 4.562.000 .10.000.000 3136FAWE6 SERIES 329 CUSS PO 1201/32 in YOU SOLD (REPO) 07/12/05 08/12/05 3.583 -197,000 -391 4.000.000 31395/2118 FEDERAL NOME LOAN MTG CORP SERFS 2886 CUSS SC 3.911807/15/19 YOU SOLD FANNIEMAE STRIP (REPO) 07712/05 03/12/05 3.580 4060,000 -10,063 40.000.000 3136FCBC9 SERIES 346 CLASS PO 1161/33 YOU SOLD FEDERAL NOME LOAN STRIP (REPO) 07/1205 08/1205 3.580 4,788,000 .7,533 40,000,000 3128270N6 SERIES 227 CLASS 10 5.000012/01/34 r YOU SOLD (EPO) 07/1205 08/12/05 3.580 -2.818.000 -5.604 .20.000,000 3128270P1 FREDDIEMAC STRP SERIES 228 CUSS 10 6.0000 02/01f35 YOU SOLD GOVERNMENT NATIONAL MEG ASSOC (REPO) 07/13/05 08/15/05 3.580 -2.440.000 4.610 -26.400,000 38374F007 SERIES 2004-5 CLASS P 3.520002/20/33 YOU SOLD FEDERAL NATIONAL MFG ASSOC _ (REPO) 07/14105 061505 3.610 -509,000 418 .14.000,000 31393C538 SERIES 200342 CLASS 3.640007/25/17 YOU PROVIDED FEDERAL NATIONAL MTG ASSOC (MARGIN) 07/14105 OPEN 0.000 .11.000,000 31393C538 SERIES 203342 CUSS 3.640007/25/17 E9OTS£00 IND ANGS CIS 07n005:1009 091 wF 5gLaZOO-V.L43 EFTA01260368 WADED TAACUP4 VAP.A.AY 0.040 SuMOWN' OFFICE SERVEING YOUR ACCOUNT sew steams startles Cce. Bea. Steams & Co. Inc. BEAR 383 Mathon Avenue New York, New Yak 10179 Op Metrtarch Camp Nell nc T I 12014359 STEARNS I NANCIAL TRUST CO INC 7 of X? STETEAPAT PERM MI 1.2005 THADJ:34 luty 29. 2005 ACCOAPT rowel, Repurchase and Reverse Repurchase Transactions (continued) PADAYEA ADENCE with Bear,Steams& Co.I nc. outstanding as of date of statement (continued) EAST StAtEuest kre 30. 2005 PURCHASE/ REPIAC1PSE PRIODG AROUSE ERIN ACCEDED REPO Ours= SUM DAIS DAIS RAN PRIPOPIL WIEIDSP DICE AMOUNT) CUSP CESCANTO1 YOU SOLD FANNIE MAE SERFS 0 (REPO) 07/18/05 08/18105 3.630 -13,954,000 -19.698 -23.000.000 3136FCKC9 SERIES 352 CUSS PO 07/01/34 0 YOU PROVIDED ()AARON) 07/29/05 OPEN 0.000 -50.0:0.003 31392/0112 FEDERAL NATIONAL MTC ASSOC SERIES 2003-13 CLASS 4.5400 03/25/33 Z T YOU SOLD (REPO) 07/29/05 08/29/05 3.720 -96.000 -29 -503.000 31282YDN6 FEDERAL HOME LOAN SERF SERIES 227 CLASS ID 5.000012/01/34 E I YOU PROVIDED FEDERAL HOME LOAN SITS C (MARGIN) 07/29/05 OPEN 0.000 9.500.030 31282YCN6 SERIES 227 CLASS 10 5.000012/01/34 in YOU BOUGHT (REVERSE) 07/22/05 OPEN 2.640 10.025.000 6.970 10.000.000 9128280V9 USTR 4.125005/15/15 TOTAL REVERSE REPURCHASE TRANSACTIONS 510.025.000 56.970 TOTAL REPURCHASE TRANSACTIONS 5.61.340.002 S.122.828 As Si satinet ea r Transaction Detail INVESTMENT ACTIVITY P90TS£00- O19- ANGS fl ea MX DATE 011E PPAISACIPM oeutrnac SYYSCUCUSP Olchrif MCC OEM7 IDIOM MDR *CUP 07/01/05 06/30/05 SOLO UNITED STATES TREASURY NOTE 9128280Y3 -15.000.000 99.99770 14.999.655.00 DUE 06/30/2007 03.625% ID 30 ACCR. INT. 1477.58 0988778197972 YIELD 3,626 % TO MATURErY OVER REF IE 61813788 81 021 07lX11:4:1009 001 wM IJ IJ EFTA01260369 CtEARAO nooto. ITS ?MOLLY Ovest-D SUILSOAR7 CfFICE SERVICING YOUR ACCOUNT Bete. Stearns b Co. Inc. Dew. Stem Swann CorD. BEAR 383 Madison Avenue On wernach Conn HAM STEARNS 10179 FINANCIAL TRUST CO INC STATE...EAT PAPAW Aft, 1. 2035 THRODOAI my 29. 2005 Transaction Detail (continued) A=C4Art NANBIER 7AAAAVCR wagon, On fie INVESTMENT ACTIVITY (continued) LAST STATE...Dr AA* 30.2005 MADAM MIX OAR DATE 1111/64•11011 CESCRPTON 77141COUSP cumarry VOCE E EI A14010.1 CAtte HADA, 07/01/05 06/30/05 SOLD UNITED STATES TREASURY NOTE 9128280Y3 -50.000.000 99 99770 '9.998.850.00 DUE 06130/2007 03.625% JD 30 0988778197972 ACCR. MT. 4.925.27 VELD 3.526 %TO MATIANRY OVER REF 0 61813788 Al 07/01/05 JOURNAL FEDERAL NATIONAL JOG ASSN 3136FCLD6 -1 SERIES 353 CUSS 2 5 000 DUE 07/01/34 -n 07/01/05 JOURNAL AeJuST POSmoN FEDERAL NATIONAL mTG ASSN SERFS 353 CUSS 2 3136FCLO5 .1 5.000 DUE 07/01/34 C in 07/05/05 JOURNAL FEDERAL NATIONAL mTG ASSN 3138FCL06 1 SEINES 353 CUSS 2 5.000 DUE 07A)1/34 07/06/05 07/05106 SOLD UNITED STATES TREASURY NOTE 912828099 -15.003,000 100.13281 15.010.921.87 DUE 05/15/201S 04.125% MN 15 09887269%8099 ACCR. INT. 87.432.07 YEID 4.108 %TO MATURITY GVER REF a 01864824 Al 07/06/05 07/05/05 BOUGHT UNITED STATES TREASURY NOTE 9128280W) 6.000.000 99.413928 5.969.296.88 cut 05/311200703.500% IAN 31 r 0988020592099 VELD 3.780 %TO MADAM' OVER REF • 61864858 Al MCA. M. 20,555.73 07/07/05 07705/05 SOLO UNITED STATES Wag' IRY NOTE 912828099 -10.000.0:0 100.34375 10,034,375.00 DUE 0915/2015 04,125% IAN 15 0988016192099 ACCR. INT. 59.408.97 YIELD __,412432 %TO MATURRY OVER REF • 01872700 Al S9OTS£00- 019- ANGS 07/11/05 07108/05 BOUGHT UNITED STATES TREASURY NOTE 912828099 15,000.000 100.35156 15,052,734.37 DUE 05/15/2015 04.125% MN 15 0986003592099 ACM. INT. 96839.00 MELD 4.081 % TO MATURITY OVER REF • 61694318 Al 027 0740004:874% 001 10156 EFTA01260370 CuLA.10 MAMA in »iota OtaiD MASONRY OFFICE SERVICING YOUR ACCOUNT ~Swim ~us CAA Gear. Steams & Co. Inc. BEAR 383 Madded Avenue New York. New Yea 10179 DrM IMbetecet Clete, Mat &cony% We rol 11201.3851 STBNRNS FINANCIAL TRUST CO INC 9 STAMINA!' elreCO SA/1.Ø5 mana JuM 29. 2005 Transaction Detail (continued) ACCCIAT ~AAR 02 TANAATEM NAME* On Fie INVESTMENT ACTIVITY (continued) LAST STÅTETANAT kne 30.2005 SETIUNIEW TRADE DAIE OATE TRÅNS4CMOM ECCRWMCM auunTry PRIX CON ANEW CAM 'MOUNT 07/11/05 07/08)05 BOUGHT UNITED STATES TREASURY NOTE 9126280W7 28000.030 99.52344 27,866,562.50 DUE 05/31/2007 03.500% IAN 31 ACCR. M. 109.781.42 SPECw. PISTRIJC1CMS YIELD 3 782 %TO MATURITY 0 OM1/05 07/08/05 SOLD OVER REe S 01893571 43 WNW UNITED STATES TREASURY NOTE WE 0600/2007 03.625%10 30 9128280Y3 -28.000.000 99.76172 ACCR. MT. 27.933.281.25 30.339.67 SPUME 9:ST8'00008S YEW 3.751 % TO MATUTHIY -n 07/12/05 07/11/05 SOLD GVER REF # 01893570 A3 VIVA:8 UNITED STATES TREASURY NOTE 912828099 -15.0O3.003 103.01563 15,002,343.75 WE 05/15/2015 04125% MN 15 PCCIT. WT. 97.520.38 0988030592099 YEW 4.123 % TO LIATURITY in 07/14/05 06,0605 CANCEL SELL GVER REF • G1923743 Al FNMA 30YR TBA GTD SETT. 07/05 5/190797 15.000,003 99.59375 14.939.062.50 DUE 07/010035 06.000% 0987797115332 REF • 2005060757140:00 OS AS OF 0805/05 70 CAL PREVIOUS SW. 07/14/05 06/07/05 CANCEL SELL FNMA 30YR TBA GTD 5/180787 15.000.000 99.59375 14.939.062.50 r SETT. 07/05 WE 07/01/2035 05.000% 0987797115332 REF S 2035080757140000 BS AS OF 03/07/05 TOGO 'REMUS SELL 07/14/05 05/03/05 BOUGHT FNMA 30YR TBA GTD 5/180797 15,000,000 100.21875 15.032.812.50 SETT. 07/05 DUE 07/01•2035 05.000% 0967091011332 990T5£00- IA19- ANGS REF • 2005050357110900 8$ 0>7 0111006.1001 COI 1686 EFTA01260371 CLEANED ',Star.. re ..••••OLLY OwnED SuesOARY OFFICE SERVICING YCUR ACODINT Bear, Steams & Co. Inc. Deer. SlebTS SWAMI Cap BEAR 383 Ma:Mon Aronue New yea, New York 10179 0-e Warmth Cat Pen Omar. Kea York 111014469 STEARNS FINANCIAL TRUST CO INC 10 STAlliMeinT Pelnea en 1.2105 THROUON Ay 29.2005 Transaction Detail (continued) sccouNT humane texPAYIR WAWA On it INVESTMENT ACTIVITY (continued) tar STATCYeNT June 3a 2035 RITLThENT TUX DOE art TRINSACTICel COCFSPrOw SOMOUtoSii 840.8n, Ma OM MOW CREDIT Moat moos 05/0/3/05 CANCEL SDI FNMA 3orrt TBA GTO 5/60797 30,000000 9841953 29.555.859.38 SETT. 07/05 0 DUE 07/01/2035 05.000% 0987021011332 REF * 2005050657440000 BS 0 AS OF 05/08/05 TO CXL PREVIOUS SELL 07/14/05 0623/05 BOUGHT ROM 30YR TBA GTO SA80797 30.000.000 99 96094 29.988.281.25 SETT. 07/05 CUE 07/01/2015 05.030% E I 0987022118099 REF It 2005062357210000 85 C 07/1405 06/06/05 SOLD FNMA 30YR TBA GTD SETT. 07105 SA80797 45000.020 99.59375 14.939.082.50 in DUE 07/01/2035 06.000% 0987797115332 RUOF AS • 2005050757140000 BS 05/0105 z 07/14105 06(07/05 SOLD FNMA 3002TBA GTD 5/80797 -15.000,000 99.59375 14,939,062.50 SETT. 07/05 CIE 07/01/2035 05.000% 0987797115332 REF • 2035060757140000 BS r 07/14105 06103/05 CANCEL BUY FNMA 30YR TBA GTD SED. 07/05 DUE 07/01/2035 05.000% 0987021011332 5/80797 -15.000,000 100.21875 15,032,812.60 REF • 2005060357110300 BS AS OF 08/03/05 TO 03. PREVIOUS BUY 07/14105 05/05/05 SOW FNMA 30YR TBA GTO SA80797 40.000.000 98.51953 29.555.859.38 SETT. 07/05 MR 07/01/2035 06.000% L9OTSEOCIN9- ANGS 0987021011332 REF 5 2005050657440000 BS 027 0711006.11102 001 roll I8 IJ IJ -a EFTA01260372 0.4.00) wordm rrs .wale Ora, 800501.0re OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. Oa Swans Somas Cap BEAR 383 IIAS6SOn Avenue York New Wyk 10179 Or Macro. Gorr 10,11 Brown. Sc'. Ton 111914,50 STEARNS FINANCIAL TRUST CO INC 11 as STATEMENT POOCO 1U111, 2505 /141003H July 29. 2005 Transaction Detail (continued) '<COW, WNW „AM 'warren INVESTMENT ACTIVITY (continued) LAST sTATtlitrY 5.1011 30.2005 SCMOiOn nt4ot DAN TROCACTON DESCROTION STIAIWCUSI, Owen aea Aali CROW PAW 07/14/05 06/23/05 CANCEL BUY FNMA 30YR TEM GTO 5/80797 -30.0O3.000 99.95094 29.968.281.25 sm. 07/75 DUE 07/0112035 05.000% 0987022116099 REF 41 2005062357210000 BS As or 06/21•05 To co. FREL03us BUY 07/14/05 05A36+05 CANCEL SELL FNmA.30YR(FILIMOG7I) 5/82870 30.000.000 100.51563 30.154.687.50 ii SETT.07/05 DUE 07/01/2035 05.500% 0967280211332 REF S 2005050657450000 85 AS OF 05406105 C To 0o. PRENnous SELL in 07/14/05 05/19/05 BOUGHT FNMA-30yR(FNm)GID sETT.07/06 out 07/01/2015 05.500% 0987280211332 SA82870 30,000000 100.86719 30,260,156.25 REF e 2005051957050000 85 07/14/75 05/23/05 BOUGHT FNMA.30YR(FNIAMG71) SA82870 30,000.000 101.00000 30.300.000.00 SETT.07/06 CUE 07/01/2035 05.500% 0987135514332 REF • 2005052157100000 85 r 07/14/05 07/07/05 BOUGHT FNia.30yR(FNmA)GTI) sETT.07/05 DA 07/01/2035 05.500% SA82870 30,000.000 101.11719 30,335,156.25 0987022118099 NEE • 2005070757300000 OS 0714/05 oseees CANCEL SELL FNMA-30YR(FNMA)GTO SA82870 60.000.000 100.95313 60.571.875.00 SET7.07/05 at 07/01/2035 05.500% 0987016110332 890TS£00- 019- ANGS REF • 2o:6052657180000 its AS OF 05/26005 TO C78 PREM.* SELL 017 Cotb301:100) 001 4096 I8 IJ IJ U a O EFTA01260373 CLEARED THROJCAI ITS xpµv 00040 ISMMARY Offla SERVICING YOUR ACCOUNT Bear. Steams b Co. Inc. CALL Sams Swats Ws. BEAR 383 Madison Avenue Weassh Ems 10stn v 11201-3859 STEARNS nt 10179 FINANCIAL TRUST CO INC 12 ers2 STATIVILT PFAKX. A. 1.2005 notOcCol Sty 29 2005 Transaction Detail (continued) ACCOLos suuSLA TAXPAYER PLASM INVESTMENT ACTIVITY (continued) LAST /CATMINT Are 10.2005 seinweir mot CATE DM TRIMACTICM otscasnal SYSICS/CUIPP GUMMY met our AMOUNT eel MORD 07/1405 05.06/05 SOLD INSA‘30YR(FNMA)611) SA82870 -30.000.000 100.51563 30.154.687.50 SETT.07/06 CUE 07/01/2035 05.500% 0987280211332 REF C 2005050557450000 BS 07/14/05 05/19/05 CANCEL BUY FM14.0-30YINFNMAIGTO 5482870 -30A:00.000 103.86719 30,260,156.25 SETT.07/05 DUE 07/01/2015 05.500% -n 0987280211332 REF • 2005051957060000 BS AS OF 05/19/05 70 at PREVIOUS BUY C 07/1405 05)23105 CANCEL BUY FNMA-30YRIENWQMD 5A/32870 -30.000,020 101.00000 30.300.000.00 in SETT.07/05 DUE 07/01/2035 05.500% 0987135514332 REF • 2005052357100000 BS AS OF 05/23/05 TO CIO. PREVIOUS BUY 07114/05 07/07/06 CANCEL BUY FNMA.30YRITNIAWGTO 5482870 •30.000.000 101.11719 30,335.156.25 SETT.07/05 DUE 07/01e2035 05.500% 0987022118099 REF • 2005070757300000 85 r 07/14105 05/26/05 SOLD AS OF 07A)N05 TO C31. PREY JS BUY FNMA-30YRIFAIMAIGTEI SA82870 -60.003.000 100.95313 60,571,876.00 SETT.07.06 DUE 07/0112035 06.500% 0987016110332 REF e 2005052657180000 BS 07/14/05 06/06/05 BOUGHT FNMA 30YR cm SA82896 50.000.000 102.60547 51.302.734.38 Stn. 07/05 690TS£00- 019- ANGS DUE 07.01/2035 06.000% 0887797115332 REFOf • 2005060757180003 BS AS 06/06/05 CD? 0740C9c1009 om VOI6 rn 8 b.) IJ EFTA01260374 CIAARID 111901.04 ITS WoOLLY OAK° SuSSO/ARY OFTICE 5ERVICROO TOUR ACCOUNT Pte. Sun Swum% OAP Beat. Steams & Co. Inc. Ore Meeretech CRv 1 BEAR 383 Madison Avenue New York. New York 10179 Scalert New Mc 1201 3858 STEARNS MC 13 o'32 Veneer /18/00 AO) 1.2005 7mA0u0.1 kb 29. 2005 Transaction Detail (continued) ACCOurt /duw8ER TPAPANIR lairefA LAST 87ATEena AS* 30.2005 INVESTMENT ACTIVRY (annum* SE/71MM /PAM SeeSet/CUSP OLIAMITI PACE 0880 AuCtril CA= A/A310/1 DAM OAT laNSACTO4 OLSCRIMON 07/14105 06/03/05 CANCEL SELL FNMA 30YR GM 5A82896 50.0701700 102.79688 51.398.437.50 SETT. 07/05 DUE 07/01/2035 06.000% 0987021011332 2005060357070000 8S F • 06.03/05 RE OF A TO CAL PREVIOUS SW. 0006/05 CANCEL BUY FNMA 30YR GTO 5A82896 -50.000.000 102.60547 51,302,734.38 07/14/05 ii WI. 07/05 DUE 07/0112035 06.000% 0987797115332 REF it 2005060757180000 8$ AS OF meets C TO CXL PREVIOUS BUY rn 07/14105 06/03105 SOW FNMA 30YR GTD SETT. 0705 DUE 07.01/2035 06.000% 0987021011332 SA82896 -50.000.000 102.79688 51.398.437.50 REF • 2005060357070000 BS SOW UNITED STATES TREASURY NOTE 9128280W -3.000.000 99.56250 2.986.875.00 07/15/05 07/14105 DUE osnsims 04.125% IAN 1$ ARC% INT. 20412.91 03138016192099 YIELD 4179%10 MATURITY GVER REF • 61953286 Al r 07/15/05 JOURNAL FANNIE MAE CMG/SERIES 2003-52 8S-10 FUR 313930538 -1 3.785 DUE 07/25/17 ADJUST POSITION 07/15105 JOURNAL FANNIE MAE CIAO/SERIES 2003-52 313930538 KS-SD FUR 3.785 CAR 07/25117 1 cantvos OLOTS£00- 019- ANGS JOURNAL FANNIE MAE CMO/SERIES 200342 31341m18 ILS-PO FLTR 3.785 DUE 07/25/17 027 070003.1000 091 Y4M rn 8 IJ IJ IJ EFTA01260375 ctrAREO T7073itat ITS OFFICE SER./KEG YOUR ACCOUNT %easy CM7JED St.ssrOWIY Sete. Stearns & Co. Inc. Neer. Stearns Servitor Cap. BEAR 383 Mahon Avenue Ore Weropstri Celle, freely% Nee Talc „201.3450 STEARNS New York New Yak 10179 FINN4C1AL TRUST CO INC 14 an Sinliatia Pc rp00 my 1.201.5 1MACOOTI kip 29. 7005 Transaction Detail (continued) ACCCVTIT VOA., TAXPAYER ParsAleR INVESTMENT ACTIVITY (=fled) CAST STATEMENT Air 30.2025 SETWAINI VAX OAR OAR 19114049011 auroral 26410UOLISIP OLIINITN pact amt AMOUNT CROY, $1.400./ 07/20/05 07/19/05 SOLD UNITED STATES TREASURY NOTE 9128280W -5.COO.000 99.14063 4.957.031.25 DUE 2015 04.125% kw 15 09880005 05/15/92099 ACCR. INT. 36.990.49 YELD 4.232% To hwuRITY VTR REF # G2032321 Al 0 07/20/05 PRINCIPAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004-035 CLASS SP 3.940 72/20/29 3837161115 -159.999 PRINCIPDAL UERED 07-20-05 -n 07/20/05 PRINCIPAL GOVERNMENT NATIONAL MTG ASSOC sERES 2C04-041 CLASS SE WE 05/20/30 38374GYSs -145.015 C PRINCPAL RCDUCTN 07.20.05 in 07722105 07/21/05 SOLD UNITED STATES TREASURY NOTE CuE 05115/2015 04.125% MN 15 0998280293099 nELD 4358 %TO MATURITY 9128280W .5.000.000 98.93750 at MT. 4.948.875.00 38.111 41 0/ER REF • 62025180 Al 07/25/05 PRINCIPAL FEDERAL NATIONAL MTG ASSN 3136FAWE6 SEWS 329 CLASS P0 118.834.50 DUE 01/01/33 5TRP ROI WO 06-05 PM 07-2545 REPO P & I 0.0000 r 07/25/05 PRINCIPAL FEDERAL NATIONAL MTG ASSN 3136FAWE6 356.503.50 DUE 01/01/33 CLASS STRIP PRN RID 06-05 PM 07.25476 REPO P 8 I 0.0000 07/25/05 PRINCIPAL FEDERAL NATIONAL MTG ASSN 31393C2C6 -301382 SERIES 2003-49 MASS SW ILOTSEOCIN9- ANGS 3 685 DUE /2 PRemPAL RE01DU5/3307-25-05 CTN 027 07/3001,1009 001 nap EFTA01260376 CLEARED THROUGH ITS VoiCt0r 080.110 SUISOLOW OFFICE SERVICING TWA ACCOUNT Beer. Steams & Co. Inc. 802/. Perm Swan Ca'. BUR 383 Madison Avenue issior ism MeOtOtch C., Nog 11201.3859 STURNS 10179 FINANCIAL TRUST CO INC 15 te 31 STATININT Pam .L 1.2005 natOLGN ilk 2t 2005 Transaction Detail (continued) ACCOUNT 1222011 TAXPAYER Pa1We INVESTMENT ACTIVITY (continued) 58.51 STATONNT 11819 30. 2005 821111:14/10 MOE DATE DPI IR/O5ACIVN OLSCRIPT/311 Son3OUCUSP 0221a09 ncr DEW AMCCO1 MDT MOAT 07/25/05 PRINCIPAL FEDERAL NATIONAL MTG ASSN 3136FCBC9 159.318.90 SERIES 346 CLASS 1 ME 110143 PRP/ IUD 0805 P007.2545 REPO P 5I 0.0000 07/25/05 PRINCIPAL. FEDERAL NATIONAL MEG ASSN 313EICEIC9 318.637.80 SERIES MSS I WE 11/0346 -n PIM R/D 08-05 ND 074545 REPO P SI 0.0000 07/25/05 PRINCIPAL FEDERAL NATIONAL MEG ASSN 3138FEKC9 219038.40 SERFS 352 CLASS I C 0.001 DUE 0801/34 PRei aro 06-05 RD 07.25-05 rn 07/25/05 PRINCIPAL REPO P &I 0.0005 FEDERAL NATIONAL MTG ASSN 3138FCC9 503.786.32 z SERFS 352 CUSS 1 0.001 DUE 07/01/34 PM RFD 06-05 PC 07-25-05 REPO P 81 0.0000 07/25/05 PFONCIPAL ALTERNATIVE LOAN TRUST 12667FG66 -704.874 SERIES 2004-3003 CIASS 1-A-6 1.785 WE 024545 PRINCIPAL RECUCTI407.25.05 r 07/29/05 07/28/05 BOUGHT UNITED STATES TREASURY NOTE WE 064012007 08625%10 30 912828063 20.000.000 99.37220 19,874,440.00 0988778197972 ACCR. INT. 57.133.15 MD 3.966% 10 mauRrTY GYER REF a 02094228 A3 AS OF 07128/05 07/29/05 07/28/05 BOUGHT UNITED STATES TREASURY NOTE 912828DY3 23.000003 99.35156 22,850,859.38 Ca 06/30/2007 03.625%10 30 ZLOTSEOCIND- ANGS 0388016192099 ACCR. INT. 68703.12 YIELD 3.978 %TO NuTuRITY GVER REF a 02092992 En 022 07000610,09 CO1 I8 b.) 1.2 U a EFTA01260377 REARED DEICRYAN ITS WICLLY OATIE0 SUSSICLARY OFFICE SERVICING YOUR ACCOUNT Boar. Stearns & Co. Inc. boo Spans StarbeL COLA BEAR 383 Madison Annus Or IA•infecn Cyber ROT Re. Vert 02015859 STEARNS 10179 FINANCIAL TRUST CO INC 16 s 32 STATEMENT PEAKY APjr 1, 2005 !MOWS my 29. 2005 Transaction Detail (continued) ACCOPit TAXPAYER NWSER en PP INVESTMENT ACTIVTTY (continued) LAST STATEIATST Arse 30.2005 SETREUDIT MOE OAR DAR EVASACIICD DESCRPIDI4 VINO/CUSP CRIO110 PRICE our AlICUIT mon warn 07/28/06 07/28/05 BOUGHT UNITED STATES TREASURY NOTE 912828073 50.000.000 99.35156 49.675.781.25 DUE 06/30/2007 03.825% JO 30 0988016192099 ACCR. INT. 142.832.88 VELD 3.978 % TO MATURITY 0 TOTAL OVER REF e 02092992 Al 3530359.744.69 5536.710.173.30 -n DEPOSITS AND WITHDRAWALS OAP MANSAC11014 CESOOTTIEN OLINT ALIOULIT CREDO MOUSY C rn 07/73/05 END WIRED MDA/PG9172491FNEGYARED TO BANK OF AMERICA NA. NJ X9421211544 04248194 71345.00 TOTAL 5.71345.00 INTEREST r ONE 07001/05 OESCRPTION AVG ISAL 425,265R7 2.798 VIANIEJOS EMMEN SATE OEM AUCUNT CRUZ MOM 779.00 021 MICE INTEREST 0605 • 07/15/05 FEDI. NOME LOAN MTG CORP/1510109 31282YDN6 5.0300 39.80337 SERFS 227 MSS 10 DUE 12101/2034 5.000 in RD 08-05 RD 07.15-05 REPO Pa I 5.0030 ELOTSEOCIN9- ANGS 07/15/05 FEDI NOME LOAN NIG CORPOS10109 31282YDN6 5.0000 79,607.03 SIRES 227 CLASS 10 DUE 12/01/2004 5.003 PO 9/0 MOS RD 07-15-05 REPO P a I 5.0000 021 01/30/081009 031 I8 E.) IJ 0') EFTA01260378 CLEARED TH/NOVIN %MOLLY OMCD OFFICE SERVICING YOUR ACCOUNT No. Sten SOCUlin Cap. Bear. Steams 6 Co. Inc. dw ihrrcod. Caner rein BEAR 383 Madison Avenue Y k 10179 11201.3659 STEARNS FINANCIAL TRUST CO INC 17 can STATIASCI PERO° July 1.200$ n0000, 4 July 29.2005 Transaction Detail (continued) ACCOLKT WAII3811 TISPAVOI .11.11/04 on na WT STATIMONT 30.2005 INTEREST (continued) DM ofienn36 5641)06CUS• 0.win-r RAM 041 OM AAKPNI CREPT AMOUNT 0725/05 FREDDIE MAC CMO/SERIES 2886 31395)210 4.0800 12.000.87 SC FUR WE 07115/2019 4.080 -90 HT RC 06.05 ND 07.15-05 REPO P A I 4.0800 0711505 FREDDIE MAC C/.40FSERIES 2886 31395J2118 4.0800 17,174.136 SC-10 FAIR DUE 07/15/2019 4.08D -n 07/15105 INT RID 0545 P/D 07-15-05 REPO P & I 4.0303 FEDL HOME LOAN MTG CORP.S10110 31282VDP1 6.0000 89.798.51 SERIES 228 CUSS ID C DUE 02/01/2035 5.020 NT R/0 06-05 ND 07.15-05 rn 0720105 REPO Pa I 60000 GOVERNMENT NATIONAL MEG ASSN 38374F087 3.6900 54.120.00 SERFS 2004-5 CUSS PS DUE 02/20/2013 890 3. 0.05 114/ R/006-05 PM 07-2 REPO P a I 3.6900 •••• 0712006 GOVERNMENT NATIONAL MTG ASSN 383741087 3.8900 81,180.00 SERFS 2004-5 CLASS PS DUE 02/2012033 3.690 r INT WD 06-06 WO 0740-05 RFPOP&I 3.6903 80.213.91 07/20106 GOVERNMENT NAMNAL MTG ASSN 383741676 3.9400 SERIES 2004-30 CUSS SU DuE 0220/2032 3.940 NT Rio 06-05 P007.2005 REPO P a 1 1.9400 07/20/05 GOVERNMENT NATIONAL MTG ASSN 38374GRIS 3.9400 48.577.07 PLOT SE00-019-ANGS SERFS 2034435 CLASS SP WE 1220/2029 1.940 INTEREST PAYMENT 07.20-05 07/2005 GOVERNMENT NATIONAL MTG ASSOC 38374GY55 48.698.94 SERIES 2004-041 CLASS SE DuE05/20/2030 0.000 MEREST PAYMENT 07-20-05 on 074606:10.01 901 N•11 621 8IJ IJ EFTA01260379 awed iinCraGn tTS xrwOLLY anNE0 du:SUARY OFFICE SERVICING YOUR ACCOUNT Sa. liars Sattnas BC-AR Bear. Steams & Co. Inc. 383 Malson Avenue Ca. PAerUtO, Cesar Mom Yces 11201.380 ST&RNS 1 0179 FINANCIAL TRUST CO INC 18 ,f STATaiehT mama kty 1. 2005 T4ROuciol my 29. 2005 Transaction Detail (continued) Ar-COuNt NI'S TAXPAYER mimeo On Ile INTEREST (continua) 1147 trrATeima Am. 30.2005 EtRevram STIROXVIP MAXIM fun a) Men MOW ULM AM0.1117 07/25/05 FANNIE MAE CMO/SERIES 2003-13 3139221:R2 4.6850 RCR-10 FUR 48.392.65 OUE 03/25/2033 4.685 MT ND 08-05 Pitt 07-25-05 REPO P 6I 4.8856 0 07/25/05 FANNIE MAE CM(VSERIES 2003.13 TitR400 FUR DUE 03/282033 4.685 3139210K2 4.6850 48.392.65 NT WD 06435 RD 07-25-05 REPO P 61 4.6856 07/25/05 FEDERAL NATIONAL MTG ASSN 31393C2C6 3.6850 SERBS 2003-49 CLASS SW 38.356.92 DUE 01/25/2033 3.685 INTEREST PAYMENT 07-25-05 m 0725/05 FANNIE MAE CAC/SERES 2003-52 K540 FLTR DUE07/2512017 3.785 31393CS38 3.7850 23.016.25 NT R/O 06-05 P/007-25-05 REPO p 8I 3.7856 07125835 FANNIE MAE CMO/SERIE$ 2003.52 313930538 3.7850 85-80 niR 30.311.59 DUE 07/25/2017 3.785 INT RID 06-05 WO 07.25-05 REPO P 6I 3.7856 r 02,28/05 FEDERAL NATIONAL MTG ASSN SERIES 353 CUSS 2 3136FCID6 5.0000 38.209.31 DUE 07/01/2034 5.000 NT RD 06.05 P1007-2505 REPO P 6I 5.0000 07/25105 ALTERNATP/E LOAN TRUST 12657FG66 1.7850 55.137.24 SERIES 2034-3008 CUSS 1445 DUE 02/25/2035 1.785 _ 67EERss1 PAYMENT 07.25-05 ;OTAL 5934.470.31 SLOTS£00 IND ÄNGS :" 30105 10 09 CO' steS L9LaZOO-V1,43 EFTA01260380 =ARLO 0010007. ITS $771,741Y 0.000 MsONW OFFICE Sf WO% YOUR ACCOUNT Br Sian Coons WC Bear. Steams & Co. Inc. BEAR 383 Madison Avenue ri 1C179 Ora Moteloln CAS Moth Nee Tot 1120I4ES9 STURNS FINANCW. TRUST CO INC 19 STATBIEcT FOAM AJ 1.2035 THROJO4 Ay 29.2005 Transaction Detail (continued) ar07..2.1 suulScR TWAYER roaMER on Fro REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS LAST STATEMENT Ant 30.2035 with Bear,Stearns2 Co.Inc. SETILDADO Met OATE 0.02 I 7.203240:14 023CIWTOni 31%00=6. 0.11WIT DUO MAttra CRUM AMOUNT 07101/15 RECEIVED UNITED STATES TREASURY NOTE 9128280Y3 65.000.000 65.162.500.00 DA 06/30/2007 3.625 3,_625 DUE 06/30107 FTTIA F1821133 Al 0 07/06/06 JOURNAL RESALE AGREEMENT UNITED STATES TREASURY NOTE nlm F1870343 Al 9128280W -13.000.000 13.097400.00 4.125 DUE 05/15/15 REPO AGREEMENT m 07106/05 JOURNAL UNITED STATES TREASURY NOTE RIM F1730506 A2 9128280V9 28.000.000 28.210.000.00 4.125 DUE 05/15/15 TERM REPO AGREDATINT ci m 07/06/05 RECEIVED UNITED STATES TREASURY NOTE DUE 05/31(2007 3.500 DUE 05/11.07 ATM F1870345 Al 3.500 9128280W7 28.000.000 28.035.000.00 RESALE AGREEMENT H 07/16105 DELIVERED UNITED STATES TREASURY NOTE DM 05/31/2007 DUE05/31/07.500 3 9128280W? -34.000.000 34.127.500.00 3.500 Enti F1780714 A2 TERM RESALE AGREEMENT r 07/06/05 INTEREST UNITED STATES TREASURY NOTE DUE 05/15/2015 4.125 912828DV9 29.304.03 Emu F1730506 A2 REPO MEREST 07/06405 INTEREST UNITED STATES IVANIRV NOTE 9128280W7 21,149.57 01. 05/31/2007 3.500 RDA F1780714 .42 MATE MEREST 9LOTS£00 LAID ANDS 07/07/05 JOURNAL UNITED STATES TREASURY NOTE 912828003 -3.030.000 3.022.500.00 VITA F1880642 Al 4,125 DUE05115M REPO AGREEMENT 027 07.3DOLICt00 001 VOIS 89LaZOO-Vin EFTA01260381 CILWFo neOuCer Re Mete °TINED StESCAler OFFICE SERVICING YOUR ACCOUNT Bey. SteamS & Co. Inc. bar. Seem Sotelter Corp BUR 383 Medial Anrea New Ye. New York 10179 Ow ttetrozat Cerra Nit fronEn. Moo at 1201.3859 STMRNS FINANCIAL TRUST CO INC STATD/ENT PERK° My 1.2005 new> My 29.2005 Transaction Detail (continued) ACCOuNT MAMA tontlit MULE/ER CT1Fie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) UST STATEMENT Az. 30.2005 sinimmt real oat mo muwentei mmewnow snlmeCiAw WWTITY OCUT micoNT OtEDIT AMOUNT 07/07/05 JOURNAL UNITED STATES TREASURY NOTE 912828099 11000.000 13.097.500.00 FITM F1870343 A2 4.125 DUE 05115)15 TERM REPO AGREEMENT 0 07/07/05 INTEREST UNITED STATES TREASURY NOTE COE 06e15/2015 MU F1870343 *2 4.125 9128280V9 1,055.06 REPO INTEREST -n 07111705 JOURNAL UNITED STATES TREASURY NOTE FITM F1880642 4.2 4.125 COE 05.16n5 91282809 3.000.000 3.022.500.00 TERM REPO AGREEMENT m 07/11/05 JOURNAL UNITED STATES TREASURY NOTE 9128280V9 .18,000.000 18,090,000.00 FITM F1920414 Al 4.125 OuE 05415(15 REPO AGREEMENT 07,11/05 DEUVERED UNITED STATES TREASURY NOTE 9128280W7 -28.003,CCO 28,035,000.00 DUE 05/31/2007 3.500 3.9:0 DUE 05/31/07 FDA F1870345 A2 TERM RESALE AGREEMENT 07/11/05 DELIVERED UNITED STATES TREASURY NOTE 912828DY3 .65,000.003 r DUE 0640/2057 3.625 DUE 06/30/07 DIM F1821133 A2 3.625 65,162,500.00 TERM RESALE AGREEMENT 07711/05 RECEIVED UNITED STATES TREASURY NOTE 912828DY3 93.000,000 93.116.250.00 DUE 08/3042007 3.625 3,_625 DUE 08/3007 FITIA F1920416 Al RUNE AGREDAENT LLOTS£00 IND ÀNGS 07111/06 INTEREST UNITED STATES TREASURY NOTE 9128280V9 1,022.61 OUE 05,415/2015 4,126 MIA F1880642 A2 REPO INTEREST OTT 07/30IESTICHO 001 VMS 69b2ZOO- V1-43 EFTA01260382 (LAUD ThitC0901 RS voiatx awe WII.OtAlIs• oucE SERvicaxe YOUR ACCOUNT OM. SIM% $00ati Co. Beer, Stearns & Co. Inc- BEAR 383 Mackson Avenue rk 10179 Ov _J, C— Wei Indor. MCM very II2olaasa STEARNS FINANCIAL TRUST CO INC 21 an SUMS." PERO* July 1.2005 nnww .1.11 29. 2005 Transaction Detail (continued) AC ow: %mon at maeot MAGER Cr, Rio REPURCHASE AND REVERSE REPURCHASETRANSACTIONS (continued) LAST STATEue,rt Ate 30.200.5 fl aw! Ma DAR DATE MULSALIKIN DESCAIITON SnolOLCU9P ocean meri AMOLOR CREW! AIXOIT 07/11)05 INTEREST UNITED STATES TREASURY NOTE 912828DV/7 8.099.03 DUE 05/31/2007 3.500 FM F1870345 A2 RESALE MEREST 07/11/05 MEREST UNITED STATES TREASURY NOTE 912828073 47,749.63 DUE 06/30,2007 3.625 FILM 8621131 A2 RESALE INTEREST -n 07/12/05 JOURNAL FEDERAL NATIONAL MTG ASSN WOES 329 CLASS PO DUE 01/01/33 3136FAWE6 -4.805.740 3.562.000.00 STRIP C FM F1933197 Al REPO AGREEMENT in 07/12105 JOURNAL FEDERAL NATIONAL MTG ASSN SERIES 320 CUSS PO DUEP01/01/33 3136FAWE6 405.740 3,652,000.00 STR FM F1683150 AZ TERM REPO AGREEMENT 07112(05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FAWE6 .14.417.221 10.686.000.00 SERIES 329 CLASS PC OUE 01/01/33 r SIRE MIA F1933193 Al REPO AGREEMENT 4 07/12/05 JOURNAL FEDERAL NATIONAL MEG ASSN 3136FAWE6 14.417.221 11.102.000.00 SERIES 329 CUSS PO DUE 01/01133 STRIP FM F1613178 A2 TERM REPO AGREEMENT SLOTS£00- 019- ANCIS 07/12/05 JOURILN. FANME MAE CMOJSERIES 2003-13 31392JDK2 -12.393.489 946.000.03 S R01.80 FUR 4685 WE 03/25/33 RTM F1933199 Al REPO AGREDAD0 027 07/2004.1009 00I V99$ I8 IJ IJ --J 07 EFTA01260383 ctEMED 0.000 Fes MOLLY 00 e WeSordav OFFICE SERVICING YOUR MWEWT BeN. Steams & Co. Inc. lest. Seams Sa:veeraCo BEAR 383 Madison Avenue 10179 Pie MeLroup0 en Main 02Cn41159 STEARNS FINANCIAL TRUST CO INC 22 Of s7 rrmeuenv Ammo niv 1.2005 z99033/1 Aty 29. 2005 Transaction Detail (continued) ACcOuPer µPAW rOeOleg UAW On Fie REPURCHASE AND REVERSE REPURCHASETRANSACTIONS (commune Lan 30.17lar0 June 30.2005 5011138341 MOE DAZE DAII TPROC11014 DES011/71.81 PIAM1.00.1119 WARM DEMI AMUR CREME m401.90 07/12/05 JOURNAL FANNIE MAE CIAO/SERIES 2003.13 31392.1082 12.393.489 984.000.00 S RCR80 FUR 0 4 685 DUE 03/2543 Firm F1613176 AZ TERM REPO AGREEMENT 0 07/12/05 JOURNAL FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS I 3136FCBC9 -6.808369 5.C613.000.03 ......... ...... CUE 11/01/33 FnIA F1933203 Cl REPO AMDAM E I 07/12/05 JOURNAL FEDERAL NATIONAL WC ASSN 3136FCBC9 6.805.369 5,241,030AM SERIFS 348 CLASS 1 C DUE 11/01/33 RIM F1813188 CZ in 0742/05 JOURNAL TERM REPO AGREEMENT FEDERAL NATIONAL MTG ASSN SERFS 346 CLASS I 3136FC8C9 13.610,739 laCOGCMCO DUE 11/131133 ATM F1683152 AZ TERM REPO AGREEMENT 07/12A)5 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FCBC9 .13,610.739 10.120400.00 SERIES 346 CLASS 1 CUE 11/01/33 FRU F1933195 Al r 07/12/05 JOURNN. REPO AGREEMENT FEM. HOME LOAN MTG COPRRS10109 31282YDN6 187181686 3.758.003J:0 SERIES 227 CLASS ID 5000 WE 12111(34 mm F1813188 A2 TERM REPO AGREEMENT 07112/05 JOURNAL FEDL ICME LOAN MEG CORPPS10109 3128270NR -18.891,486 3.788.000.00 SERIES 22 CLASS ID 6LOTS£00-019-ANGS 5.000 DUE712/01/34 11TM F1933203 Al REPO AGREEMENT 078.1116:100. C01 wee Fn 8 IJ IQ! —J EFTA01260384 =ARID 11.1KOGM ers WHOLLY OANCO SUIVOUJIY MICE SERI/ICING YOUR ACCOUNT loar Swims Scones Cap. Beer. Stearns & Co. Inc. Dal Wawa, Crow Myr, BEAR 363 Madison Avenue New York. New York 10179 11201.3859 STEARNS FINANCIAL TRUST CO INC 23 as siArnithl PERCO hay 1,2005 Txitoucai My 29.2005 Transaction Detail (continued) ACOCONT WISER TAXPAYER µPAPER OR n• REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) ',AST sTA7ExieNT AMID 'D. 2005 5FIRDIOR MADE DAR DATE MAMMA DINCAIMICM Srmiaicasw —my DM MOM MOO MOAT 07/12/05 JOURNAL FREDDIE MAC CMO/SERIES 2888 31395J2148 -3.529.667 197.000.00 SC40 FUR 4000 DUE 07/15119 FILM F1933201 Al 0 07/12/05 JOURNAL REPO AGREEMENT FREDDIE MAC CMOISERIES 2886 SC-10 FLIR 3139512M 3.529.667 206,000.00 4,080 DUE 07/15tI9 -n 07/12/05 JOURNAL NEM F1613188 A.2 TERM REPO AGREEMENT FEDI HOME LOAN MEG CORPIPS10110 31282YDP1 17,428.411 2.762000.00 SERIES 228 CLASS I) 6.000 DUE 02/01/35 RIM F1813186 82 in 07112/05 JOURNAL TERM REPO AGREEMENT FEDL PCME LOAN MTGCORPOS10110 31282YOP1 -17,428,411 2.818.000.00 SERIES 228 CLASS 13 6.000 DUE 02/01/35 FILM F1933203 81 REPO AGREEMENT 07/12/05 JOURNAL UNITED STATES TREASURY NOW 9128280V9 -3.000.000 3.011.250.00 FRM F1930481 Al 4,125 DUE 05/15/15 r 07/12/05 JOURNAL REPO AGREEMENT IRMO STATES TREASURY NOTE 912828DV9 18.000.000 18,090,000.00 RDA F1920414 A2 4,125 DuE 0505n5 TERM REPO AGREEMENT 07/12/05 INTEREST FEDERAL NATIONAL MTG ASSN 3136FAWE6 8.521.33 SERBS 329 CUSS PO STRIP 080TS£00- O19- ANGS DUE 01/01/2033 COCO rem F1683150 A2 REPO MEREST cat 01/3005.1001 031 VMS rn 8 IJ nJ t.o.) --J 1.0 EFTA01260385 0-LAIDD DDC.4.4 Na wacautr °AWED SLAXSOODRY OITICE SERVICING YOUR ACCOUNT Bear, Steams & Co. Inc. Sew Dan Sion*. Cap. BEAR 383 mown Avenue Or. Menu° Cow NOM We yak 11201.3811 STEARNS Neve Y 10179 FINANCIAL TRUST CO INC 24 a 3≥ STATE...De Fire00 Jul/ 1.2035 1100112311 lea 29.2005 Transaction Detail (continued) ACO2UNT Meet. TAXPAnit Duman en REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (COD611.114 LAST VATTED, kr* 30. 2005 StmnAtet TRADE OAT OAT 1RUZSACTION OESCDPIGN STADXRUSS1 OWMTIM OMIT /MOW C.2011 AISYST 07/1205 INTEREST FEDERAL NATIONAL MTG ASSN 3136FAWE6 33.750.08 SERIES 329 CUSS PO DUE 0101/2033 0.000 FRM F1613178 AZ 0 0711205 INTEREST REPO INTEREST FANNIE MAE CMO/SERIES 2003.13 31392/062 2,991.36 S RCR-VO FUR DUE 03002803 4.685 071.1 roue s AZ F1613176 ii REPO y. 5 07/12/05 INTEREST FEDERAL NATIONAL MTG ASSN SERIES 346 CUSS 1 DUE 11/01/2033 0.000 3136FCBC9 15.932.64 m 07/12/05 INTEREST RDA 51613188 C2 REPO INTEREST FEDERAL NATIONAL MTG ASSN 3136FCGCS 23.333.33 SERIES 346 CUSS 1 DUE 11/010033 0.000 FITM F1683152 AZ REPO PITEREST 07/12/06 INTEREST FEDI. HOME LOAN MPG CORP.S10109 31282YDN6 11.41824 SERIES 227 CLASS 10 r OUE 12/01/2034 11114 F1613186 12 REPO MEREST 5.000 07712/05 INTEREST FREDDIE MAC CIAO/SERIES 2888 313951298 826.24 SC40 FUR DUE 07/152019 4/300 FITM F1613168 AZ REPO INTEREST 07n 2/05 INTEREST FEDL NOME LOAN MTG CORPIPS10110 31282YDP1 ISOTS£00- 019- ANGS 8.396.48 SERFS 228 CUSS 0 DUE 0201/2035 6.000 not F1613186 62 R010 MEREST 027 0700.02:1041 001 VMS rn 8 -4 EFTA01260386 WADED 711110004 ITS wan. &me SUODOADY OFFICE SERVICING YOUR ACCOUNT Derr. San 24carrres Cap. Boar. Steams 6 Co. Irc. One Morento Omar won BEAR 383 Madison Ammo 0179 944, rot liz01.31119 STEARNS FINANCIAL TRUST CO INC 25 <0 32 STA7ESADa PESO) M 1.2006 THROutei My 29.2005 Transaction Detail (continued) AccOuril 7./14,0well NASA On Fie LIST STATVADir MY 302036 REPURCHASE AND REVERSE REPURCHASETRANSACTIONS (continued) Dill laden MIX snincii:Jsp OWMIY CCM MOM Gaon Avetto 0A.72 tuatara pacasnos 07712/05 INTEREST UNITED STATES TREASURY NOTE 912828DV9 1,557.75 WE 06n 5/20i5 4.125 FRIA F1920414 A2 REPO MEREST 0 0703/05 JOURNAL GOVERNMENT NATIONAL IATG ASSN SERFS 2004-5 CUSS PS 3.690 DUE 0200/33 383741087 -26,400020 2.440.000.00 FRY F1943306 M -n 07/13/05 JOURNAL REPO AGREEMENT GOVERNMENT NATIONAL MEG ASSN SERFS 20044 CUSS PS 38374FD87 26.400.000 2,515000.03 C 3.690 WE 02/2033 nni F1743068 A.2 rn 07/13/05 INTEREST TERM REPO AGREEMENT GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CUSS PS 38374FDEIT 4.708.64 CUE 02/200033 3.190 FONT F1743068 A2 REPO INTEREST 07/14/05 JOURNAL FANME MAE CMO/SERIES 2003-52 313930538 17,157.930 IF VO FUR S-85 DIKO7/25/17 3.7 r 07/14/05 JOURNAL MIA F1613222 Al TERM REPO AGREEMENT FMNIE MAE CMO/SERIES 2003-52 313930538 -7.549.489 KS40 FLTR 3.785 DuE07125/17 FITM F1953204 Al REPO AGREEMEM 07/14/05 JOURNAL FANNIE MAE CMO/SERIES 2003-52 3139=38 9.608.440 509.000.00 AS-I/0 FUR ZSOTS£00- 019- ANGS 3,_765 WE 01/26/17 Frill F1953194 Al RESALE AGREEMENT 027 070005/009 027 I8 IJ IJ --J EFTA01260387 CasaA(0 0**0***4 ITS OFFICE SavEING YOUR ACCOUNT Wrialv °anti> sLIISIOWir BAR Bear. Steams & Co. Inc. 383 Madison Avenue Ca. S**** S2*.mes co. 0-* Wpm ») Crow Ain STEARNS 10179 I1701-3859 FINANCIAL TRUST CO INC 26 C » STAT17.027 It1b03 .22j 1.2005 »MVO* Aly 29 200$ Transaction Detail (continued) ACCOUNT WAND, REPURCHASE AND REVERSE REPURCHASE TAXPAY171 Mae On lie TRANSACTIONS (continued) us? STATIDIENT la 30.2005 SIMIMINT ION 00( Dusscnov OISCRPIXIT smecucuSP OUANIIIT OM FAME 02170205 JOURNAL FANNIE MAE CACO/SEMES 2003-52 atm Aiwa 31393CS38 -9.608,440 C) KS-MO FLTR 509.000.00 3.785 CUE07/26/17 F17/4 F1953194 A2 RESALE AGREEMENT 0 07/14/05 JOURNAL FANNIE MAE CMOISERIES 2003.52 KS4.5 FUR 3.785 DUE 0725117 313930538 -9.608.440 w 509.000.00 Film F1953195 Al REPO AGREDAENT m 07114/05 JOURNAL FANNIE MAE CMG/SERIES 2003-52 31393C$38 KS40 FUR 9.608.440 509.000.00 C 3.78$ DUE 07/25/17 MIA F1953195 A2 in 07/14/05 JOURNAL REPO AGREEMENT FANNIE MAE CMO/SERIES 2003-52 KS-VO FLTR 3139=38 -9.608.440 509,000.00 3.785 DUE 07/25117 FID.4 F1953202 Al REPO AGREEMENT 07/15/05 JOURNAL UNITED STATES TREASURY NOTE Pim F1930491 A2 9128280V9 3.000.000 3.011.250.00 4,125 DUE 05/15/15 r 07/15/05 INTEREST TERM REPO AGREEMENT UNTIED STATES TREASURY NOTE CUE 05115/2015 4,125 912828DV9 736.92 FTIM F1930481 A2 REPO INTEREST 07/18/05 JOURNAL FEDERAL NATIONAL MI6 ASSN 3136FC1(C9 -19.C439.045 SERIES 352 CLASS 1 13,954,000.00 0001 DUE 07471/34 FMA 11993127 Al _ REPO AGREEMENT 07/18/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FOCC9 19.089.045 14.345.000.00 SERFS 352 CUSS 1 0,001 DUE 07/01/34 FTMI F16731013 82 TERM REPO AGREEMENT ENTS£00 IND ANGS 027 07130.06:1000 001 3895 SLLEZZOO- V.Ld3 EFTA01260388 CLEARED TWO0/3.4 ITS W*C.J.9 ConnED 9u910400 OFFICE SERVICING YOUR aCCOLNT ear Sturm Sear9in Cap. Beat, Stearns 6 Co. Inc. ON Mrtnnes ton* 11019 BEAR 383 Madison Avenue Now Tort. New York 10179 Brc099. kw von 11201-3859 STEARNS FINANCIAL TRUST CO INC 27 a n STATE50-5,7 P0900 .190 1,2005 71«Or,. July 29. 2005 Transaction Detail (continued) sccouvr Nustem TA77.05119 WSW On fee REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATIMINT An 30.2005 SE0111.100 MAX DATE MTh IRMSCION OtSCRPIal SYMOOVOJSIP SAW& DOW .O.Ou5T 01090 maim 07/18.415 INTEREST FEDERAL NA110/0,1 ITTG ASSN 3136FCBC9 44,118.84 SERFS 352 CUSS I DUE 07/01/2034 0001 FONT F1673106 BZ 0 07120105 RECEIVED REPO INTEREST UNITED STATES TREASURY NOTE DUE OW5/2015 4.125 9128280V9 5.000.000 5.025.000.00 4.125 OUE05/15/I 5 -n 07122/05 DELIVERED HIM f2011067 Al RESALE AGREEMENT UNITED STATES TREASURY NOTE 912828DV9 -5.000.000 5.025.000.00 um 05t1512015 4.125 C 4.125 DUE 0915/15 fiTM F2011067 A2 rn 07122/05 RECEIVED TERM RESALE AGREEMENT UNITED STATES TREASURY NOTE DUE 05/15/2015 4,125 9728280V9 10.000.000 10.025.000.00 4.125 DUE 05/15/15 RDA 12030421 Al RESALE AGREEMENT 07/2205 INTEREST UNITED STATES TREASURY NOTE 912828DV9 353.15 DUE 05)15/2015 4.125 FRIA f2011067 04.2 r 07/28KI5 JOURNAL RESALE MEREST FIDE HOME LOM NIG CORP•510109 3128270W -9.445.743 SERIES 227 CLASS ID 5.000 DUE 12/01/34 F/TM 12093198 Al REPO AGREEMENT 07/28/05 JOURNAL FUR HOME LOAN KM CCree510109 31282YDN5 9.445.743 1.881.000.00 7 CUSS a nOTS£00- 019- ANOS 000 DUE 12;01/34 SUES 5. RDA 11813372 C2 TERM REPO AGREEMENT 027 07/2006:1090 001 NM 8 IJ --J EFTA01260389 CLEARED TARCAXily ~cur ORNED SERSORAYA MICE SEAMING YOUR ACCOUNT boy Sinn Secutes Con BUkR Bear, Steams a Co. Inc. Ireynxtich Cons Tenn 383 Manisa, Avenue omen. me yny 11201-n59 STEARNS New Y m' Na k 10179 FINANCIAL TRUST CO INC 28 n 52 STATLIMMT nyuro AN 1.2005 TRROutAl My 29. 2005 Transaction Detail (continued) ACCiaNT NuteeeR TAXPAYER NuueER 00 Fie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (44n04489 tar memseerr Tune 30.2035 summon mot EMI PATE MARSACTIEN CASCYPTIOR STIMOUCUSIP RUMMY men ~um amen ~aft 07/28105 INTEREST FEIN HOME LOAN MTG COREMTS10109 31282YDN6 5.123.95 SERIES 227 CUSS TO DUE 12/01/2034 5.000 HEM F1813372 C2 0 0729/05 JOURNAL REPO INTEREST FANNIE MAE CIAO/SERIES 200343 S ILICR44) FUR 31392/082 12.094.423 4,540 DUE 03/25/33 -n RDA F7783380 82 TERPA REPO AGREEMENT 07129/06 JOURNAL FANNIE 144E Cs.10(SERIES 2003-13 31392JDK2 -24,188,846 $ RCR-1/0 FUR 4.540 DUE 03/25/33 in FITM F2103201 Al REPO AGREEMENT 07/29105 JOURNAL FANNIE MAE CMO/SERIES 2003-13 3139211K2 12.094.423 946.000.00 S RCR4/0 FLIR 4.540 WE 03.05/33 FIM 11933199 A2 TERM REPO AGREDADIT 07(28/05 JOURNAL FEOL HOME LOAN MTG CORP/4510109 31282YDN6 9.445,743 SERIES 227 CLASS 10 5.007 m11201/34 r 07t29/05 JOURNAL RIM 12093198 A2 TEAM REPO AGREEMENT FEOL 14314E LOAN MEG CORP/510109 312827006 -8.973.458 SERIES 227 CUSS 10 5_000 DuE 12101/34 HIM F2103235 Al REPO AGREEMENT 0729105 JOURNAL FEOL HOME LOAN MTG CORP41510108 31282YDN6 472,287 96.000.03 SERIES 227 CLASS 10 _ 5.000 OLJE 12/01/34 HIM F2103220 Al REPO AGREEMENT 580T5£00 1A19 ',NOS 027 0700.00:1000 001 9146 LLL£ZZOO- V.L33 EFTA01260390 UMW THROISK ITS beelOetY °MOM SullSOIARY OFFICE SERVICING YOUR ACCOUNT Ow. Sworn Seaton Coo. Beer. Stearns b Co. Inc. One Meeceeen Ca. Met BEAR 383 Mackson AWOL* Y New YoM 10179 Inzatr. Kew Wee 11201.3969 STEARNS CM. FINANCIAL TRUST CO INC 29 632 ST/Yemeni PEMCO ASO 1. 2005 Tilta.TOM /01 29. 2005 Transaction Detail (continued) ACCOUNT NTA/SER TAXPMTR LAST STATIVEITa June 30. 2005 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS 0:oridnued) SE LE TRADE 5110390.61P COWRY Otill MOUPII MICO AMOUNT OAT IO We TRMSACTION OESCOPMN DEUVERED UNTIED STATES TREASURY NOTE 9128280Y3 -93.000.000 93.116.250.00 07129/05 DUE 06/30/2007 3.625 3.625 DUE 060007 0 07/29/05 INTEREST Him N 6 A2 F1920414REDAENT A RESALE I FANME MAE 0.40/SEFIF-S 2003.13 313921082 1.599.27 $ RCR40 FUR 4.540 ii INTEREST DUE 03/25/2033 EITM F193.3199 A2 REPO INTEREST UNITED STATES TREASURY NOTE 912928073 132.949.31 07/29035 01E06/302007 3.125 C HTU F1920416 A2 rn TOTAL RESALE INTEREST $.325.376.196.79 5318 091 800.66 MISCELLANEOUS %GOAN ISTANSACTION Mani Orr MCAT CRODO mcvyr r 07101/05 07/05/D5 JOURNAL JOURNAL TO CMDY AIC 021.5212841 FR CMOY MC 021-52128-F1 159.218.50 258.350.50 •••• JOURNAL FR Cl/0Y NC 021-5212841 160.897.50 07/06/05 JOURNAL FR CUD? MC 021-52128-F1 183.564.74 07/08/05 07/11105 JOURNAL FR CODY A/C 021.52128-F1 107.686.00 _ 07/13/05 JOURNAL FR CMOY NC 0214212841 6.430.00 07/13/05 JOURNAL FNMA 30YR IBA STD 526,171.87 SETT. 07/06 5.000 emotions MBS NET 07/13105 980TS£00 IN9 ANGS 02T 07/30/0*1009 001 3106 8LLEZZOO- V.L.43 EFTA01260391 CLEARED DalOuCol ITS OFFICE SERVICING YOUR ACCOUNT wogs( 0.0.C1 eDeSaDAR. Bear. Stearns St Co. Me. BEAR 383 Madoon Avenue Baer Storrs Similes On One Werelech Com Na Doerr. New roe 11201.3a. STEARNS New Yoh. New Yak 10179 FINANCIAL TRUST CO INC 30 am STATEuriT Rini00 key 1. 2005 ToiDOXI4 July 29. 2005 Transaction Detail (continued) Amo ea WIDER MISCELLANEOUS (=true* TwAntle /DAMP. Or1rue In? STAT./S/4T kn. 30. 2005 OAT. WOO TRUSAC110.1 CDSCS1•113N 07/13/05 DEW M. t1 CREW MOM JOURNAL FNMA-30YREFNAMOGTO SETT.07/05 168.750.00 C) 5.500 DUE 07401135 MBS NET 07/13/05 0 07/14/05 07/14/05 JOURNAL JOURNAL FR CMDY AC 021-52128-F1 FNMA 30YR GTO 11.709.00 95.703.12 SETT. 07/05 6.000 OM 07.01/35 MSS NET 07/1405 11 07/15/05 JOURNAL TO CMDY NC 021-52128-F1 4,390.00 07/18/05 C 07/19/05 JOURNAL FR 0.40Y NC 021.52128-F1 86.750.00 in 07/22/05 JOURNAL JOURNAL FR CROY NC 021-5212841 JUNE OS CLEAR FEES 1.500.00 50,375.00 07/22/05 JOURNAL FR (AMY NC 021.52128-F1 104.275.00 07/26/05 JOURNAL TO CMDY NC 021.52128-F1 23.563.00 07/27/05 JOURNAL FR CMDY A/C 021-52128-Fl 3.900.00 07/28/05 JOURNAL FR CMDY AIC 021-52128-F1 r 0729105 TOTAL JOURNAL TO CINDY AC 021-52128-Fl 207.084.00 64.025.00 5-1090.677 37 51.113.665.86 _ LSOTS£00 IN9 ANGS 021 07.)506.1009 001 Vela 6LLiZZOOV.Ld3 EFTA01260392 WARM) 1101000/ rrs WHOLLY Ow/t60 WIESIMYY ()met SERVICNG YOUR ACCOUNT Ow. Swan Seams On Bear. Steams & Co. Inc. BEAR 383 Madison Avenue New Yea. New York 10179 Om Mimed, Cale/ WM N•II tot 113014632 STEARNS FINANCIAL TRUST CO INC 31 n n STAITIMM PERCO My 1. 2005 THROUGH my 29.2035 ACOOLNY NUIMER Trades Executed Pending Settlement TAMAYSt /WW1 On Ns LAST STATINEM ham 30.2005 YUMMY/1 MX on! OAR IMMJCTOri orsonanon St as 0011111111 MCF DM MOW/ CRC? //YOUNT 08.01/05 07/29,05 BOUGHT UNITED STATES TREASURY NOTE 912828099 0004000.00 98.7812 9.965.557.0 DUE05/15/2015 04.125% IN 15 0988018192099 YIELD 4,278 %TO MATURRY GVER REF • 62105C431 Al 08/01/05 07/28/05 SOLD UMTED STATES TREASURY NOTE 912828E82 -23.0130000.03 99.8046 22.957.500.00 DUE 07/31/2007 03.875% II 31 0988016192099 -n 08/01/05 07/28/05 SOLD 11EID 3.978 %TO MATUFdlY GVER REF 0 62093006 81 UNITED STATES TREASURY NOTE 9.12828E82 -50000000.00 99.8048 49,907,608.70 DUE 07/3112007 03.875% II 31 C 0988015192099 rn 08/11/05 07/11/05 BOUGHT YIELD 3.978 %TO MATURRY OVER REF I 62093008 Al FNMA-30YR(ROAA)GTO 5.080977 50,000,000.00 100.8828 50,441,406.25 SETT.0804 CUE 08501/2034 05,500% 0987000510099 REF or 2005071151110000 BS 08111835 076)7/05 SOLD FNMA-30YR(FNMA)GTD 5.080977 -30.000.000.00 100.9687 30,290,825.00 SETT.08/04 r DUE 0601/2034 06.500% 0987022118099 REF I 2005070757310000 BS 08/11/05 07/08/05 SOS FNIAA.30YR(VILMA)GTO 5.080977 -50.000,000.00 100.9609 50,480,470.00 SE17.08/04 DUE 08A71/2034 05.500% 0987000510099 REF • 2005070857250%0 BS 880TS£00- 019- ANGS OB/11,05 07/08/05 SOLD FNMA-30YR(FNMA)GTO 5.080977 -50.000.000.00 100.9609 50.480.468.75 SETT.06/04 OUE 08/01/2034 05.500% 0987000510099 RU • 2005070857250000 BS AS OF 07/08105 021 01//90)11000 001 IT/ 8 b.) IJ 00 00 O EFTA01260393 C.C.4910 THAOU0ai Nn VOCALY OWNED SuediNARY OFFICE SERVICING YOUR ACCOUNT Beer. Steams & Co. Inc Saar. Scan Scarbn Cala BEAR 383 Madsen Avenue Coe /AtUccecn Coca Meth 111014959 STEARNS New Yak. New York 10179 FINANCIAL TRUST CO INC 32 mu STARIAPrt 90.000 luty 1,2005 TIROJOal July 29 7205 Aetralo mien[ Trades Executed Pending Settlement (continued) TAXPARIR uaern uR $1ARI.ExT Are 30.2005 5111111100 NODE OAR OAR TRARSACTON DISCPS1TON SMORtstUSIP MOMMY RACE NW micor CRYDO Ala1VAI 08/11/05 07/15/05 SOLD FNMA-su NMA)GTD 5.480977 -30000.003.00 100.8203 30.246.093.75 SETT.08.04 DUE 0801/2004 05.500% 0987018110099 0 08/11/05 07/29105 SOLD REF • 2035071557180080 BS FP41.4,4•30YR(FNMA)GTD SETT.0904 SA80977 -40,003.000.0) 100,5078 40,203,125.00 012 0801/2034 05.500% -n 08/11/05 0708/05 CANCEL SELL 0987000510099 REF 4 2005072957090000 B$ FNMA-30YRIENWOGTO SA80977 -50.000000.00 100.9609 50,480,470.00 C SETT.08/04 DUE O801/2034 05.500% in 0987000510099 REF • 2005070857250000 BS AS OF 07/08/05 08/11/05 07/21/05 SOU) FNMA 30YR GTD SA83016 -10.030.000.03 9&5937 9.859.375.00 SETT. 08/05 DUE 08/0107035 05.000% 0987003510099 REF • 2005012157190000 BS TOTAL 5110,887,433.32 $284.425.266.20 r 1110 littee I,Kes Oa ml now int feet wart.. a' End of Statement 680TSEOCIA/9- ANGS on 0711003 10.09 001 V995 rn 8 b.) la) so so EFTA01260394 mum° Imauoki ITS VVICtlY MOM SuldesAY orrr,z SERVICING YOUR ACCOUNT Beat Slate Sawn. Cer0 Bear. Steams a Co. Inc. One Manisa Cans North BEAR 383 Madison Avenue New York. New York 10179 OmskIss Nes YM 11201.3219 STEARNS FINANCIAL TRUST CO INC STATEWEra 02/000 Jtaw 1.2005 ACCOUNT EXECUTIVE GNMA GOVT BOND ne0sCui An* 30.2005 VISIT OUR WEBSDE waw.bearsteams.ccen ACCOuNT Nato% What's In This Statement Illlllllllllllllll I II TsXPAYER HINDER Ca roe VAT STATEUENT Wry 31. 2305 Financial Summary 3 min/4CM TRUST CO INC Your Portfolio Holdings 4 GO JEFFREY EPSTEIN 8 6100 RED HOOK QUARTER Transaction Detail 31 STE B3 Trades Not Yet Settled ST THOMAS VI 00802 O Your Messages ...... ........... 33 Z T I I Conrwmatico: Unless we hear Market Value of Your Portfolio m Your Portfolio at a Glance from you to the contrary. it is Oct understandeg that any z $159,915 TOTAL VALUE OF SECURMES THIS PERIOD 3.442481 Pah a erweaket dr22.2C4I Tree credit balances in your $3.442.1381 account are being maintained LONG ACCRUED MEREST 32,928 !bed to facilitate your intenuon to 33.082378 359.965 Weems invest such arrows tivough NET CREDIT BALANCE us. in Omens market maw $3,835,574 .. EH Last statements nester met r NV FOUNT THIS PERIOD NET ECUITY LAST STATEMENT 3.201.652 CHANCE SINCE LAST STATEMENT 633.923 There are no 'Stop Loss* orders or other pending buy 060TSEOCIN9- ANGS or sell open orders on Me for your account. tannin/ efOrns070•10.97st My. n IT nal rtird01 a OW 000nssi TNO Vattnert *raid PI Miasma Sx yea tract. See resins ado Is, Instaire are= 027 0, 0105.104 2 COI rn 8 IJ IJ 00 00 IJ EFTA01260395 D WO TNIOV314 ns .40u. 0.4ED StASSOMY bat SUM Swab. Cg. Meigtsth Carts WP N. rot 112014$59 FINA NCIAL TRUST CO INC 2 0 z -n STATEMENT BACKER IS PRINTED ON THIS PAGE 0 m z T6OTS£00 IND ANDS 017 0701105.1042 001 V093P £8LEZZOOVin EFTA01260396 CLEARED THACV0K ITS ?MOLLY Owl.E0 AJOSOARY OFFICE SERVICING YOUR ACCOUNT Sr.Stan Sent0e1 COIL Beer. Stearns & Co. Inc. One AMMAN Wm Not BEAR 383 Madsen Avenue New York. New York 10179 11201400 STEARNS FINANCW. TRUST CO INC 3 41 ) 4 stammer nano Are 1, 2005 nwouen tune 30.2005 Cash Flow Analysis DIPS MOD Income Summary TES MI00 MR 70 DUE AOCOLIO PUMA YASYEA KAMER LAST STATEWNT UWE May 31. 2005 U.S. Gott. Bond Int. 219.62641 3.681.663.87 OpeningEtalance 5122205.83 Govt. Agency hi. 714.775.88 4.112.621.91 Swath's Sold 717.693.800.08 792.702.92 Cap. Bond Int 197,23184 Dividendsenterest 1,131,949.13 3.545.51 Creek Balance Im. 321.80 0 Miscellaneous Amount Credited 1.878.994.73 5720.704.743.94 Ronne Repurchase eke. Total 81698.16 51 213 047.29 1.163.243.87 59.753.778.08 z -n Securities Bought Dividends serest Charged -718.737.452.51 .208.273.77 Bond Purchase Int. Repurchase Ire. Exp. -208.273.77 -215.571.53 -5.148,708.18 .1,098.448.85 C Miscetlanecus -1.521.258.00 in Amount Debited 8720.466.984.28 Portfolio Composition z Net Cash Acta* 237.759.66 CashCash Eibralem 359.965 Your Portfolio ClosIn9Balance 5359,965.49 Fled Income 3.442.681 Allocation Total 53.802.646 r Cash Balance Summary Cash 9% OPEANG OOLONG us* 122.20583 359,965.49 Net CashEtalarce 5122.205.83 $359,965.49 Z6OTS£00- 019- ANGS Feted Income 91% klfito.,01 }Man Ord. dna wane. anlb Mr, naafi vayn TM iftean prowSne nhM. M+M ai.14. ?Mel Yalu* Of )00 Ofelb.) 027 070106.1042 001 ‘I193P 8 b.) IJ so so EFTA01260397 cALAREE Mit-JuGH RDA OFFCE SERVICING YOUR ACCOUNT vmmor (WAED SLISIOvAv BBIR Sear, Steams & Co. Inc. 383 Madison Avenue Ent Sur4 Setylies ORR ba litcrowli Wu lksin STEARNS New Welt New York 10179 . 11201.3569 FINANCIAL TRUST CO INC 4 et R. srmnirec Pefaoo June 1.2005 II.R003m June 30. 2005 Your Portfolio Holdings ACODUNT HAMM CASH & CASH EQUIVALENTS TAXPAYER PANDER On no LAST STATedemr Moly 31.200$ DESMPITed swacbru, so MAKS CS11VATID CURSI111 Curly MU( /1/411111.1./ MOW CASH BALANCE YEW OR 359.965 TOiNaGUNO0 TOTAL CASH & CASH EQUIVALENTS $359.965 FIXED INCOME Government & Agency Obligations OFSCSIPTON SIMICUCVS14 ACC, ACCRUED ESMA4110 444474Y PRIX V44441 WOE CAREW MIRES! RIMEL Wail YEW GOVERNMENT NATIONAL MIG ASSN 38374GPJ5 MRGN SERFS 2004-036 CUSS Sp 14.795.046 5.5884 826.803 16.191 582.925 70.5035 DATED DATE 0921/04 BOOK ENTRY ONLY DUE 12/20/2029 3.940% FACTOR . .90846224 GOVERNMENT NATIONAL MTG ASSOC 38374055 IARGN SERIFS 2034-041 CLASS SE 14.801.708 6.7511 999.284 DATED DATE 06/23/04 DBUE ENTRY ONLY OOKOW20.2030 FACTOR . .92150715 FEDERAL NATIONAL MTGASSN 31393C2C6 MRGN IES TE 2003-49 CUSS SW 12.488.618 7.1598 894.164 6.393 460.206 51.4677 DASERTED DA 04/3003 BOOK ENTRY ONLY DUE 01/26/2033 3.665% FACTOR - .51379199 £60TS£00-019-ANCIS 027 0710‘105430.42 001 YU* Fn I Sb.) V.) 00 00 let EFTA01260398 aunt Tal0t0a TS stoat.? MAID SUKOVJCY OFFICE SERVICING YOUR Anct4INT Bea Senn S4tt Cap. Bear. Steams & Co. Inc. Ole Mown Cater lin BEAR 383 Madison Avenue New York. New Yak 10179 &waft Nes Yon 112014/59 STEARNS FINANCIAL TRUST CO INC 5 ed. STATEMENT PERIOD Sae 1, 2005 THROUSA Are 30.2005 Your Portfolio Holdings (Continued) ACCCWI IMAM a rexacrt, wale On rie UST STUDENT PAsy 31.2005 Government & Agency Obligations (continued) KCl 1O:AVID moan= Crg i SYtOOLODIP Trot OSN/ry MICE war VAUX NMVST DOWD* 3136FLU)6 ',IRON 1 20.6563 FEDERAL NATIONAL MTG ASSN SERIES 353 MASS 2 DATED DATE 07/11/04 BOOK ENTRY ONLY DUE 07/01/203A 5.000% FACTOR - 17992876 -52 720 251 522.584 $1,043,131 Total Government& Agency Obligations Corporate Bonds C AMMO LSINATED CURRENT rn DISCNIPICN ALTERNATNE LOAN TRUST STWOLUSIP 12667FG66 ACV Mt MRGN OUANYM 37.054.541 NICE 1.9496 P4MIET VIOL 722.430 10.344 mien SCOW 744,796 MOD rip 103.0959 SERFS 2004-30CB cuss 14-8 DATED DATE 12/27/04 BOOK ENTRY ONLY DUE 02/25/2035 2.010% FACTOR .92636353 RATING: MOODY AM S&P AM S722.430 610,344 5744.796 Total Corporatelkeds r TOTAL FIXEDINCOME 53.442.681 532.928 51.787127 YOUR PORTFOLIOHOLDINGSACCRUEO INTEREST 532.928 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME 51.787.927 V6OTSEOCIA19- ANGS 53.902,646 YOUR PRICEOPORTFOLIOHOLDINOS 027 OUDISS1*At ool I8 b.) IJ so tD EFTA01260399 0.E.Mito ththO.Ka, nn th.O.LY anvEr, 2.1.45,0thth DEICE %MAD% YOUR ACCOUNT Bear. Steams & Co. Inc. Ser. &urns Senn*. Cap. BEAR 383 Mattson Avenoa New York. New Yak 10179 On* Wear! Gatti math En 20 3859 STDIRNS FINANCIAL TRUST CO INC 6 au sTiothasT PEico kith 1. 2005 noth)04 Ama 30.2006 Repurchase and Reverse Repurchase Transactions ACCOJ'a 'MAGA TiVIPAY01 M. On MO with Bear, Steams& Co.ine.outstanding as of date of statement LAST rotten May 31.2006 PIACIVSU REPUITOIME MGM MACHIN PmcU ACCRUID SOO OUMTTIY START Dart Oat /Art PnOM MGAQP• FACE MONT) CUSIP OfSCRP101 YOU SOLD FEDERAL NATIONµ MTG ASSOC (REPO) 06170/05 07/12/05 3.420 -964,000 -1.963 -25.000.003 31392/01(2 SERIES 2CO3-13 CUSS 4.6858 03/25/33 YOU SOLD 0 (REPO) YOU SOLD 08/10105 07/12/05 3.420 .11.102.000 -22.148 .30.000.000 3136FAWE6 FANMEMAE STRIP SERIES 329 CLASS PO 12/01/32 FANMEMAE STRIP (REPO) 06/10105 07/12/05 3.420 -5.241.000 -10.455 -10.000.CCO 3136FC8C9 SERIES 346 CLASS PO 11/01/33 m YOU SOLD FEDERAL HOME LOAN STRIP (REPO) 06/10/05 07/12/05 3.420 .3.756.000 .7.493 C -20,000.000 312132YDN6 SERIES 227 CLASS 10 5.000012/01/34 in YOU SOLD (REPO) 06/10105 07/12/05 3.420 .2.782.000 4.510 -20.000.000 312823041 FREDDIEMAC STRIP SERIES 228 CLASS ID 6.000002/01/35 YOU SOLD FEDERAL HOME LOAN MTG CORP (REPO) 06110/05 07/12/05 3.420 -206.000 -410 -4.000.000 3139532118 SERIES 2886 CUSS SC 4.0800 07/15/19 YOU PROVIDED FEDERAL NATIONAL MTG ASSOC (MARGIN) 06/10)05 MEN 0.000 -25,000.000 313930538 SERIES 2003-52 CLASS 3.785607/25/17 r YOU SOLD (REPO) 06116105 07/18)05 3.450 -14.345.000 -20.680 -23.000.000 3136FOLD) FANNIE Mµ STRIPS SERIES 352 CUSS PO 07/01/34 YOU SOLD FANNIEMAE STRIP (REPO) 06/17)05 07/12/05 3.360 -3.652.000 -4.771 .10.000.000 3136FAWEE. SERIES 329 CLASS PO 12/01/32 YOU SOLD FANNIEMAE (REPO) 06/17105 07/12/05 3.360 _ -10.000,000 -13.068 40030.800 3136FCBC9 EPICS 346 CLASS PO 11/01/33 YOU SOLD USER 4.125005/16$15 (REPO) 03/22/05 OPEN 2.800 -28.210.000 -16.134 .28.000.000 912828039 S60TS£00 IND ANGS 021 0>AY1005.1042 eel NOW L8LaZOO- Vida EFTA01260400 CLEAR.," IlIRCOCAI In vnC.LV OAt SIASCARY COME SERVICIM YOUR ACCOUNT tow. Sieens WSW Co. Bear. Steams & Co. lit. Ore Wavle.", Calla Nee, BEAR 383 Madison Avenue v Y 10179 11201.3332 STEARNS FINANCIAL TRUST CO INC 7 of 34 STATEMENT PERICO Ane 1. 2005 TFR0031. lone 30.2005 CCOJNI MASSER Repurchase and Reverse Repurchase Transactions (continued) TAXPAYER wt.'s, On Me with Bear,Steams& Co.Inc.outstanding as of date of statement (continued) LAST S'ATEVENT M731. 8305 PLIOUSU PEPIACMASI HONG PUNOMSE MOW ACCVMD WO OUVIMY SUM oAn ONE MR Mtn INTERMn Ma MOUNT) CUSP 043OUPTON YOU SOLD GOVERNMENT NATIONAL MTG ASSOC (REPO) 06123/05 07/13A35 3.370 -2.515.000 .1,883 -26.400000 38374F097 SERIES 2004-S CLASS P 3.690002/20/33 0 YOU SOLD (REPO) 06/27/05 OPEN 0.010 .25.030.030 31392JDK2 FEDERAL NATIONAL MTG ASSOC SERIES 2003.13 CLASS 4.6856 03/25/33 YOU SOLD GOVERNMENT NATIONAL MTG ASSOC -n (REPO) YOU SOLD (16/27/05 OPEN 0.010 -1 ••••-• .27.112.874 38374F616 SERIES 2OO4.3O CLASS 3.9400 02/20/32 FEDERAL HOME LOAN MTG CORP C (REPO) 06/27A)5 OPEN 0.010 -1 -5.724.538 3139512118 SERIES 2886 CLASS SC 4.080007(15/19 in YOU SOLD (REPO) 06/30/05 08101105 3.540 4.373.003 -626 .10.000.000 3136FCKC9 FANNIE MAE STRIPS SERIES 352 CLASS PO 07831134 YOU SOLD FANNIE ME STRIP (REPO) 06/30105 08/01105 3.540 .1.737.000 -170 -10.000.000 3136FCLD6 SERIES 353 CLASS 10 5.0000 07/01134 YOU SOLD FEDERAL HOME LOAN STRIP (REPO) 06/30105 08/01/05 3.540 -1R61,000 .183 -10.000.000 31282YON6 SERIES 227 CLASS 10 5.000012/01/34 r YOU BOUGHT 2.310 34.127.500 10.115 34.000.000 9128280Y/7 USTR 3.5000 05/3107 (REVERSE) 06/27/05 OPEN TOTAL REVERSE REPURCHASE TRANSACTIONS 534.127.500 110.115 TOTAL REPURCHASEIRANSACTIONS 1.92.744.003 5.105.492 Va al Minn ees 960TS£00- 019- ANGS 027 We" 05 104 001 MX. IJ IJ 00 00 EFTA01260401 EFTA01260402 wr : 8■ I r. Q N • CZ 6 0 ■ e• s4 2° II§1 Transaction Detail ■ ■ ■ ■ ■ 4. ■ ■ SDNY_GIA_00351097 CONFIDENTIAL EFTA_00223789 CLEAN, OACAGA RS *Noun WARD SIASOAny OFFICE SERVICING ltuR ACCOUNT 8er Stan S990.99$ Cap. Bear. Stearns & Co. Inc. BEAR 383 MadIsm Menu° New York. New Yea 10179 Dna MOMS, Cone. Maw 11101.3859 STERNS FINANCIAL TRUST CO INC STATEMENT POMO Arne 1. 2005 1199090A AM 30.2005 Transaction Detail (continued) A090morr MAMA Mewed manta On Flo INVESTMENT ACTIVITY (continued) LAST STATDiert May 31.2005 SC1110470 MAX DAR OAR PARSACTO1 “30119110N SOAKUCUSP CANIMY PDX 011111 AMOUNT CR01NAOMI 06/16/05 06110/05 SOLD UNITED STATES TREASURY NOTE 9128260V9 -17.000.000 100.89844 17.152.734.38 DUE 05/15/2015 04.125% LIN 15 ACC& NT. 55.261.54 0988280293099 YIELD 4.014 NTOMATURIN MA REF • G1672882 Al ORIGINAL 50 06/13/16 O AS OF macros 06717/05 06714/05 SOLD FEDERAL NATIONAL MTG ASSN 3136FAWE6 -10.321.800 81.81250 8,444,522.75 m ERIES 329 CLASS PO STRP DuE 0170172033 0987126513332 REF • 2C060614 57200000 BS ci 06/17705 06/14705 BOUGHT FEDERAL NATIONAL MTG ASSN 3136F0809 13.929,377 8201563 11.424.265.93 m SERIES 346 CLASS 1 DUE 11701/2033 0907789213099 REF • 2005061451130000 BS 06/20/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FAWE6 -1 S 329 CUSS H DuRE 01/0103 SE PD STRP 062005 PRINCIPAL GOVERNMENT NATIONAL MTG ASSN 3837460/5 -153.742 r SERFS 2004435 CUSS SP 4.110 DUE 12720/29 PRINCPAL REDUCIN 06-20-05 06(20705 PRINCIPAL GOVERNMENT NATIONAL MTG ASSOC 38374GY55 -139.052 SERIES 2004-041 CLASS SE DUE 06(20/30 PRINCIPAL REDACT./ 06-20-05 06/22/05 0621/05 SOLD UNITED STATES TREASURY NOTE 912828099 -20000000 100.37500 20.076.000.00 CUE 06/15/2015 04.125% MN 15 860TS£00- O1D- ANGS 0988016192099 ACCR. INT. 85.190.22 KID 4.070 %TO MATuNTY GVER REF • G1722863 Al 021 070901:1092 COI WOW rn 8 IJ IJ iJ EFTA01260403 cs/ARGO nRCIJOH m ym3..LY 0,*40 Sue-War CCOCE SERVICING YOUR ACCOUNT Sep. Steams & Co. Inc. Pm Storm Sewn Cap. BEAR 383 Ma&son Avenue Dne Weraccil Cn No* s VolT 11201.3819 STEARNS New York. New York 10179 S FINANCIAL TRUST CO INC 10 au STA/1MM PERIOD June 1, 2035 NROPON June 30.2005 Transaction Detail (contlnu.d) Afteten Ruwatil TAXPAYER warn,. INVESTMENT ACTIVITY (continued) LAST STATVAENT May 31.2005 Wanton TRADE OAR DATE te/JISACTIOR CESCRIPTC01 SO.07..C.V$P ).Ware PRICE MIT WOW Ca l.csc 08/27/05 06/24/05 BOUGHT UNITED STATES TREASURY NOTE 912828DW7 20.000.000 99 83594 19,967,187.50 DUE 05/31/2037 03.500% IAN 31 ACCR. INT. 51.639.34 09 82 880293099 Imp 3,588% 10 MATURITY GvER REP a G175)133 Al O 06)27405 PRINCIPAL FEDERAL NATIONAL MTG ASSN SERE 329 CUSS PO 3136FAWE6 289.167.60 DUE 01/01/33 STRP PRI/ WO 05.05 PEI 06-2S-OS m REPO P 6I 0.0000 06/27/05 PRINCIPAL FEDERAL NATIONAL MEG ASSN 3136FAWE6 298.418.83 SERIES 329 CLASS PO CUE 01/01/33 STRIP PRN RID 05435 P/O 06-25-05 REPO PEI 0.0000 06/27405 PRINCIPAL FEDERAL NATIONAL MTG ASSN 31393C2C6 .244.441 SORES 2003.49 CUSS SW 3.910 DUE 01125/33 PRINCIPAL REOUCTN 062546 06/27/05 PRINCIPAL FEDERAL NATIONAL MTG ASSN 3136FCEC9 145,914.10 SERIES 346 CUSS 1 DUE 11101133 PRN RID 05-05 ND 082545 REPO P 6I 0.0000 06/27/05 PRINCIPAL FEDERAL NATIONAL MTG ASSN 3136F00:9 371.609.85 SERIES 352 CLASS 1 0.001 DIE 07/01/34 PRN Re 0545 P/D 06.25-06 REPO P & I 0.0000 06/27/05 PRINCIPAL ALTERNATIVE LOAN TRUST _ 12667F066 -646.873 SERIES 2004-30CB CLASS 1..4-8 1.785 DUE 02/25/35 PRINCIPAL REDUCIN 08-25.05 08.128.05 JOURNAL FANNIE MAE CMO/SERIES 2003.13 31392J0K2 1 S RCR.P0 FUR 4,68.5 DUE 03/25/33 660TS£00 IND ANUS 027 07/01/0”042 OM Iota-COO-V.83 EFTA01260404 C2 02200 T0R01.0.4 Trs IMO.LY OVMED SUBSO~ °FEIGE SERVICING TOUR ACCOUNT kar. Stem ~tos gear. Steams & Co. Inc. One Merete& Gener NØ BEAR 383 Maclisai Avenue 10179 0r0:202‘ Ne, o* 20 385* STffiRNS FINANCIAL TRUST CO INC STATEMINT PER100 lune 1.2005 TmouoN lune 30.2005 Transaction Detail (continued) ACCM2217 THIMYIR µAO01 On Flo LAST STATtu2211 IA" 31.2005 INVESTMENT ACTIVITV (eontinued) SETTIDAINT MAX DMI CAR TRAWCTION OtSCRPMN SYWOUL11Lp OLNOMY Pta merr ~DM MC« Al"011 08/30/05 06/28/05 BOLIGHO FEDERAL NATIONAL MTG ASSN 3136FCKC9 8.518.623 83.45313 7.109.057.52 SERIES 352 CLASS 1 DUE 07/01/2034 00.001% 0987128513099 REF • 2005062857160000 BS 06/30/05 06128105 SOLD FEDERAL NATIONAL MTGASSN 31313FCLD6 -9,170,234 20.59375 1.888.495.25 SERIES 353 CLASS 2 ACCR. INT. 36.935.67 DUE 07/01/2034 05.000% 0987022118099 REF • 2006062851100000 BS 1 1 ACCRUES ON 1ST. PAYS ON 25111 06130/05 06128105 8CUGHT FEDL HOME LOAN MTG CORP/S10109 31282YDN6 9.552.843 21.17188 2.022.516.00 SERIES 227 CUSS ID ACCR. INT. 38.476.73 DUE 12/01/2034 06.000% 0987125513099 REF • 2005062857140000 85 5-111.306.815.59 $91.007.418.84 TOTAL INTEREST al2NMY al ~GYNT CREDO ~Nr r Ohn 06/01105 CtSCWINION AVG BAL 200.424RT 1.884 021 °Fra INIEREST0605 SYPAIKNEUNP MR D9 321.80 08/15205 FEDL HOA« LOAN MTG CORP0S10109 312821'ON6 5.= 80.303.34 SERES 227 CUSS ID DUE 12/01/2034 5.000 NT RA 05-05 IND 08.15.05 REPO P 41 5.0000 00ITS£00-IA19-ANGS 06/15/05 'RENNE MAC CMCVSERIES 2886 3139612118 4.0800 12.618.14 SC-VO FUR DUE 07/15/2019 4.080 INT RA 05.05 PA 06.1645 REPO P & I 4.2100 017 O7C1AF.-1042 Ø MOMP EFTA01260405 CLENtlio 11.110U0n ITS wnOLLY Owe SUSSMARY OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. km. Seen Seattle. Cup. BMR 383 Madison Avenue 0a Parintech Com Nunn ercothrt. kw Yon 11201400 STEARNS New York. Now York 10179 FINANCIAL TRUST CO INC 12 tem STAlaiper PER,00 June 1.2005 1100.131. June 30.2005 Transaction Detail (continued) /COMM NUS,. lAXPAYI01 MYER On File INTEREST (continued) UM STAMM/1 May 31. 2005 OAK DESCSIO11C01 SYWKI.CUSP uwam T.TE ay cOn JAUNT =Off MOW 06/15/05 FREDDIE AMC CMO/SERIES 2888 31395)2118 4.0800 SC-VD FUR 18.058.26 DUE 07/15/2019 4.060 ita R/D 054)5 PAS15-05 REOP P & I 4.2100 0 06/15/05 FEOL HOME LOAN MTG CORWS10110 SUES 228 CLASS ID 3128211701 6.0000 91.828.76 DUE 02A11/2035 6.000 RIT WO 05-05 RD C45.15.0.5 REPO P & I COMO a l 06/20/05 GOVERNMENT NATIONAL MTG ASSN 38374F1187 3.8600 SERES 2004.5 CUSS PS 56.613.33 C DUE 02/2012033 3.860 INT PA) 05-05 PA 06-20.05 in 06/20/05 REPO P& I 3.8600 GOVERNMENT NATIONAL MTG ASSN SERFS 2004-5 CUSS PS 38374FD87 3.8600 84820.00 DUE 02/20/2033 3.060 NT RA 05-05 ND 06-2005 REPOP&I 3.8600 06/20/05 GOVERNMENT NATIONAL MTG ASSN 38374FIST6 4.1100 SERIES 2004-30 CLASS SU 84.591.78 DUE 02/20/ 4.110 r 06/20/05 INT Re 05.0532 20 PM 06.20.05 REPOP&I 4.7100 GOVERNMENT NATIONAL MEG ASSN 38374GPA5 4.1100 SERIES 2004-035 CUSS SP 51,199.60 DUE 12/20/2029 4.110 MEREST PAYMENT 0620-05 06/20.85 GOVERNMENT NATIONAL NM ASSOC 38374GY55 SERIES 2004-041 CLASS SE 51.172.10 DUE 06/20/2030 0.000 TOITS£00- 019- ANGS MEREST PAYMENT 06-2805 0627/05 FANNIE WE CMO/SERIES 2003-13 3139210K2 48100 S RCR-VD FUR 25.851.29 DUE 03/25/2033 4.910 NT R/D 0805 PC 06-25-05 REPO P 6I 4.9100 021 01/01.61c1COZ 001 veaRr I8 b.) IJ EFTA01260406 MEWS THROWS nS WHOUN OWKD 54880WIY OFFICE SERVICING YOUR ACCCVNT NS Urn 59581es Co". Bear. Steams & Co. Inc. BEAR 383 Madison Avenue OM MMUS. Carat North ltp:095. New IN 20 3859 STEARNS New Y Y 10179 FINANCIAL TRUST CO INC 13 si surnapc PEROO June 1.2005 TIMOUOM kre 30. 2005 Transaction Detail (continued) ACCOL•ft Van TWAYM NuLMER On Fie INTEREST (continued) LAM STAMINVI /Asy 31.2005 DAIS &SCOT* STIMOUCUSIP MUMMY RAM 00 OM MOON 49449 AMMO 06/27/05 FANNIE MAE CMO/SEMES 2003-13 31392/082 4.9100 25,851.29 S RCR-1/0 FUR DUE 03/35/2033 4.910 INT Re 05-05 P10 0025.05 REPO P & I 4.9100 06/27/05 FANNE MAE CMO/SERIES 2003.13 313921082 4.9100 51.702.58 S RCRVO FUR DUE 012502033 4.910 -n NT RID 05-05 P1006-2505 REPO P I 4.9100 06/27)05 FEDERAL NATIONAL MTG ASSN 31393C2C6 3.9100 41,488.55 SERIES 2003-49 CLASS SW C OUE01/35/3033 3.910 MEREST PAYMENT 0645-05 in 06/27/05 FANmE MAE CEO/SERIES 2003-52 itS40 FUR DUE0725/2017 4.010 31393C838 4.0100 58.317.45 Re RA) 05-05 MD C6.25-05 REPO P 91 4.0100 061271/5 FEDERAL NATIONAL MTGASSN 3136FCLD6 5.0000 77405.30 SERIES 353 CUSS 2 DUE 07/01/2034 5.003 WT WD 05-05 PIO 0S-25-05 r 06/27/05 REPO P & I 5.0000 ALTERNATIVE LOAN TRUST SUES 2004-3008 CLASS I -A-8 12667F066 1.7850 63.149.48 /25/2035 1.785 PITIEREST PAYMENT 08-2545 TOTAL 5875.393.05 ZOITSEOCIN9- ANGS 023 0/ 031261042 CO. 290.11 I8 IJ IJ EFTA01260407 CLEARED NAPA, ITS W140lae OWNED SIJOSOWer OFFICE SERVICING YOUR ACCCUNT Seer. Steams 8 Co. Ix. Bev Means Steven Ca. BEAR 383 MadImo Avenue New Yotk, New York 10179 Ore Weattech Cadet len ROAM Nee Yet 11M1.LSe STEARNS FINANCIAL TRUST CO INC 14 au etemeNr niece June 1.2005 Tielttrel June 30.2005 Transaction Detail (continued) ACCOVIT eLteleli TAXPAYER 'ANGER OnIt REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS LAST STATewit+cir May 31.2005 with Bear,Steams& Co. inc. SanowAr TRADE DAR CATE Utedat11001 DOCRIPION SIWOUCIJSIP Comm CON *Kurt CREDIT AMOUNT 06/01/05 JOURNAL FREDDIE MAC CMO/SERIES 2886 31395/21I8 8.743.867 SC./0 FUR 4.210 DUE 07/15/19 rnM F1453304 A2 0 06/01/06 JOURNAL TERM REPO AGREEMENT FREDDIE MAC CMO/SERIES 2886 SC-100 FUR 3139512118 -5.147.247 4.210 DUE 07/15/19 -n 06101/05 JOURNAL F1TM F1523444 Al REPO AGREEMENT FREDDIE MAC CMG/SERIES 2886 3139512140 -3496.620 209,000.00 SC-LID FUR C 4.210 DUE 07/15f19 MA F1523442 Al in 06/02/05 RECEIVED REPO AGREEMENT UNITED STATES TREASURY NOTE 9128280W7 29.000.000 29.072.500.00 CUE 0541/2007 3.500 3.500 DUE 05/31/0T FITU 11531268 Al RESALE AGREEMENT 0602/05 DELIVERED UNITED STATES TREASURY NOTE 912828DW7 44,000.000 54.000.000.00 DUE 05/31/2007 3.500 L500 DuE05/31/07 r FLINT F1511194 Pa TERM RESALE AGREEMENT 06/02.05 INTEREST UNITED STATES TREASURY NOTE 912828DW7 8.445.00 DUE 06/31/2007 3.500 FRIA 11511194 A2 RESALE INTEREST 06/03/05 JOURNAL FREDDIE MAC CMO/SERIES 2886 31395/268 5.147.247 SC40 FUR EOITS£00- 019- ANGS 4210 DUE 07/15319 FILM F1523444 A2 TERM REPO ACFEEMENT ozr 07ANI06:10A2 COI VII93P EFTA01260408 CLEAR° TWROVOR RS ymOLLY MAPCO WAISORRY OFFICE SERVICING YCVR ACCOUNT Bar. Steen Searle cap. Beer. Steams & Co. Inc. BEAR 383 Madison Manua New York New York 10179 One — ow c-cs North 11211.3858 STEARNS FINANCIAL TRUST CO INC 15 au sTATIlara P551OO Ate 1.2005 THROUGH Arp 30.2005 Transaction Detail (continued) Aft. NT WIAMER TAXPAYER µem[R on Me REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATOIENT May 31.2005 SETRIWN1 TRADE DATE FATE Waal* OESCAPD3x 511.00LOJSP COMM COEI MOM came moan 06103105 JOURNAL FREDDIE MAC CMOGERJES 2886 31395.12H8 -5.147.247 288.000.00 SC-90 FUR 4,210 DUE 07/15119 Trim A1543217 Al REPO AGREEMENT 0 08/03/05 JOURNAL UNITED STATES TREASURY NOTE Firm F1470404 A2 4,125 DUE 05115/15 9128280V9 38.000.000 38.095.000.00 TERM REPO AGREEMENT -n 06/03/06 JOURNAL UNITED STATES TREASURY NOTE HIM F1540556 Al 4 125 DUE o6nstis 9128280V9 -78.000.000 79.482.500.03 ROO AGREEMENT C rn 06103/05 WTEREST UNITED STATES TREASURY NOTE DUE 05/15/2015 4.125 Firm F1470404 A2 REPO INTEREST 912828099 19.661.25 06110105 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FAWE6 14,773,724 10.851.000.00 SERIES 329 CLASS PO DUE 01/01/33 STRIP FONT F1313180 DZ TERM REPO AGREEMENT r 08/10/05 JOURNAL FEDERAL. NATIONAL Mit ASSN SERIES 329 CLASS PO DUE 01/01/33 3136FAV/E8 -14.773.724 - 11,102,000.00 STRIP RIM F1613178 Al REPO AGREEMENT 06/10/05 JOURNAL FANNIE MAE CMO/SERIES 2003.13 313921082 4.318.034 492.000.00 5 RCM FLTR 4,910 DUE 03/25)33 POITS£00- 019- ANOS FIRM F1613184 Al REPO AGREEMENT 027 07/011050042 OCT Y1930 EFTA01260409 0.4,AtO niSC“.• voNO.LT OM» SuLIKAARY OFFICE SERVICIRG YOUR ACCOUNT fku. Strams SeculOn Col). Ebar. Steams & Co. Mc. BEAR 383 Madison Avenue 10179 IL MeensT foto NOTI N Tot 11201.3859 STEARNS FINANCIAL TRUST CO INC 16 a. 34 STATENENT ~TO luNa 1.2005 ~0~1 lhne 30.2005 Transaction Detail (contInued) ACCOUNT MAABETt TAXPAYER ?MIMER n CC REPURCHASE AND REVERSE REPURCHASE TRANSACT1ONS (centrued) tar STAMAENT ~y 31. 2005 SEMOAttn nuce Can DATE IRANSACTIZT4 cescurcrt STIABOUCUTO OUANTUT OESU MOM ONWI MOUNT 06/10105 JOURNAL FANNIE MAE CACVSEMES 2003-13 313921082 6.318,034 525.000.00 5 RCR-413 FUR 4.910 DUC 03/25/33 FIN F1463223 AZ o 06110/05 JOURNAL TERM REPO AGREEMENT FANNIE MAE CMCVSERIES 2003-13 S RCR4/0 FUR 31392JDK2 .12.836.068 984,030.W 4.910 DIE 03/25/33 FRU F1613176 Al REPO AGREEMENT 06010.05 JOURNAL FANME MAE CMO/SERIES 2003-13 313921082 12,638,068 998,000.00 $ RCIWO FUR 4.910 WE 03125/33 FITM F1403141 A2 TERM REPO AGREEMENT 06/10105 JOURNAL FANNIE MAE CMO/SERIES 2003-52 313930538 -17.451.605 KS4/0 FLTR 4.010 CUE 07/25/17 FITM FI613222 Al REPO AGREEMENT 06/10105 JOURNAL FANNIE MAE CMO/SERIES 2003-52 313930538 17.451.605 1,008,000.00 K.S.V0 FUR 4,010 DUE 01/25/17 r FIM F1373141 AZ TERM REPO AGREEMENT 06/10/05 JOURNAL FANNIE WE WO/SERIES 2003-52 313930538 47.451.605 1.014.000.00 KS-VO FUR 4.010 DUE 07/35117 FTTM F1613162 Al REPO AGREEMENT 06/10/05 JOURNAL FANNIE MAE CMO/SERIES 2003-52 313930538 17.451.605 1,014,000.00 SOITS£00- 019- ANGS ES40 FLTR 4.010 DUE 07/25/17 FillA F1613182 A2 REPO AGREEMENT OD 070145.-Nte2 OM Vikt rn 8 IJ N2 -J EFTA01260410 GEARED rES near Ono sunsuit( OFFICE SERVICM YOUR ACCOUNT Us Siena Senn. Co Bear. Steams b Co. alc BEAR 383 Mathieu Avenue Ge inoin Cris nrin IrocIerL Inv Reg 11201.3n9 STEARNS New Yak, New York 10179 FINANCIAL TRUST CO INC 17 am sTATeuDer PFROO Are 1.2005 nolOue.o. Ace 30. 2006 Transaction Detail (continued) ACCOunr Nunn TAXPAYER MAWR Plim REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEurwr %Ur/ 31. 2005 SETTLEMENT Duce DATE PATE TRUSLCISLII MSCinnor STMSOUCUSIP WIMVT OCINIAAOLPII MAIMS AmOUtil 06/10/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FC8C9 6,964,688 3.800.000.00 SERIES 346 CUSS 1 DUE 11/01,33 rnm F1453273 A2 0 TERM REPO AGREEMENT •••• 06/10105 JOURNAL FEDERAL NATIONAL MTG ASS/1 3136FC8C9 .6,964.688 5.241.000.00 SIRES 346 CLASS 1 DUE 11/01/33 FnM 11613186 C1 -n 045/10105 JOURNAL REPO AGREEMENT GOVERNMENT NATIONAL MTG ASSN SERIES 2004.30 CUSS SU 38374F6T6 -24498,329 1,2974100.00 C 4.11000E02120/32 FILM F1613182 Ell in 06/10105 JOURNAL REPO AGREEMENT GOVERNMENT NATIONAL MTG ASSN SUES 2004-30 PASS SU 38374F6T6 24.698.329 1,340000.03 4.110 Me 02n0t32 1111A F1373141 82 TERM REPO AGREEMENT 06(10/D5 JOURNAL FEDI NOME LOAN MTGCORP0S10109 31282YDN6 -18105.686 3.758.000.00 SERFS 227 CUSS ID 5.000 DUE 12/01/34 r 06/10/05 JOURNAL HIM F1613196 Al REPO AGREEMENT FEDI. HOME LOAN MTG CORPHS10109 31282YDN6 19,106.686 3.951.000.00 SERIES CUSS PO SACO DUE12/01/34 FITM F1453273 a TERM REPO AGREEMENT 06/10006 JOURNAL FREDDIE MAC CMOJSERIES 2886 3139512148 .3.598.520 206,000.00 SCUD FLUB 90ITS£00- O19- ANGS 4.210 CUE 07/15/19 NM F1613188 Al REPO AGREEMENT 02T 071010!klen 001 Min I S IJ IJ 00 00 EFTA01260411 21.2.RED THROUCK rts wHOLLY CoemtD SUILtOwn OFFICE SERYCING YOUR ACCOUNT Bee/. Stearns & Co. Inc. Dew. Sian Secylies cow BUkft 383 Madison Averse) Ore ~read, Cain Nonn I20c40r. Pies PL 20 2410 STUNRNS S eek 10179 FINANCIAL TRUST CO INC 18 .3, STATDIENT eereco June 1.2035 ~coon June 30. 2005 Transaction Detail (continued) AOCOLNT ,MaER TAXPAWR .22.11[R On Fie REPURCHASEAND REVERSE REPURCHASETRANSACTIONS (continued) TABT tneremenT May 31. 2005 SØ WAX DAR pR ~TKO DISCRPT1O21 SIIMOUCUSIP 00147 WOW, DEPT 'WOW 06110/05 JOURNAL FREDDIE MAC CMG/SERIES 2886 31395J2H8 (-) 3.596.520 209.000.00 SC-I0 FUR 4210 DUE 07/15119 RIM F1521442 AZ 0 06/10105 JOURNAL TERM REPO AGREEMENT FREDDIE MAC CIACITSERIES 2888 SC-10 FUR 31395J2148 5.147.247 288,000.00 4.210 DUE D7/15/19 ARM F1543217 AZ TERM REPO AGREEMENT 06/10105 JOURNAL FREDDIE MAC CA40.1SERIES 2886 3139512H8 4,147,247 296.000.00 SC-10 FUR 4210 DUE 07,15/19 RDA F1813180 Al m 06/10,05 JOURNAL REPO AGREEMENT FEDL HOME LOAN MTG CORPES10110 31282YDP1 -17.959,702 2.762.000.00 SERIES 228 MASS ID 6.000 OUE 0201/35 FILM F1613186 B1 REPO AGREEMENT 06710/05 JOURNAL FEDL HOME LOAN MFG CORP•510110 31282YDP1 17.959.702 3.000.030.00 SERFS 228 CLASS C 6,000 DUE 0201/35 r FITTA 1453273 BZ TERM REFPO AGREEMENT 06/10105 DELIVERED UNITED STATES TREASURY NOTE 9128280W7 -29.003,000 29.072.500.00 DUE 0501/2807 3.500 3.500 DUE 050107 FILM F1531258 A2 TERM RESALE AGREEMENT oanalos RECEIVED UNITED STATES TREASURY NOTE 912828DW7 54.000.000 54.067.500.00 LOT T SE00 IND ANDS OUE 05/31=07 3.500 3.500 DUE 0501/07 UM F1610852 Al RESALE AGREEMENT 027 07l01.01cleA2 001 VOW, 66L£ZZOO- V1.33 EFTA01260412 0/ARID THROUGH ITS vnOLLY &MED SuISCARY OFFICE SERVICIVO YOUR ACCOUNT SW. Susan Soaves Co' Beat. Steams & Co. Inc. on Ikeviech Oro. Win BEAR 383 MathSan Avenue New Yak. New York 10179 Breedlr. New crt 20 3559 STEARNS FINANCIAL TRUST CO INC 19 ex STATIMENT PEF600 Arne 1.2005 mecuon lone 30.2005 Transaction Detail (continued) AcCOuur Numeen TAxPANIR mama Celle (continued) LAST retie PIT /07 31.2005 REPURCHASE AND REVERSE REPURCHASETRANSACTIONS SITTUNINI TIM( WHIM Ofltri MCJWT anon AMOUR DATE DAR TRIMSACTON OLSCAYMON SvieeCutuSP 06/10/05 DELIVERED UNITED STATES TREASURY NOTE 912828LY/i7 -54.000.000 54.067.500.00 DUE 05/31/2007 3.500 3.500 DUE05/31/07 MIA F1610852 A2 WULF AGREE/AM 0&1005 RECEIVED UNITED STATES TREASURY NOTE 9128280W7 54,000.000 54.067.500.00 DUE 05/31/2037 3.500 3500 DUE 0931/07 -n 06/10105 DELIVERED FAA 11610652 A3 RESALE AGREEMENT UNITED STATES TREASURY NOTE 9128280007 -54.000.000 54.067.500.00 ... 3.500 C DUE 05/11/2007 3.500 DUE 05/31/07 rn 11610852 A4 11Th E RSALAGREDAFXr 0670/05 RECEIVED UNITED STATES TREASURY NOTE 9128280W7 54.030.000 54.087.500.00 DUE 05/31/2037 3.500 3.500 DUE 05/31/07 FM.I 11810652 AS RESALE AGREEMENT 06/0105 INTEREST FEDERAL NATIONAL PEG ASSN 3138FAWE8 29.749.82 MRCS 329 CLASS PO STRP r WE 01/01/2033 MA F1313180 Di REPO INTEREST 0.000 06/10 /05 INTEREST FANME MAE CMCVSERIES 2003-13 31392J(W2 721.88 S RER4/0 RIR WE 03r25/2033 4.910 FRIA F1463223 AZ REPO PREREST 31392/082 1,911.49 80ITS£00- 019- ANGS 06/1095 INTEREST FANNIE MAE CMO/SEMES 2003-13 S R0R-P0 FLIV FDA03/25/2033 AZ40310 DUE F1 40314 1 REPO INTEREST 027 01/07/2211742 CO1 VOW 8 b.) IJ OO EFTA01260413 C4448:0 7.1%000. ITS WnOtlY 661.40 W8400/if OFFICE MIMING YOUR ACCOUNT Baer. Stearns & Co. Inc. Mn Tars Stottkl Co? BEAR 383 Madison Avenue Me %t at, Ctenet Noci . Nye Tort 11201.3859 STEARNS New Yetk. Now York 10179 FINANCIAL TRUST CO INC 20 e 34 ST Teen' nano Arne 1.2005 twicucm rune 30. 2005 Transaction Detail (continued) •=01.1.47 TAYPAYER Wk/SER On Si* REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STAMWT May 31. 2005 SEMIAltNT TRADE 00( CAtE 19/MACI1ON OESCRIPTION 5.1.140XLSP GUMMY DEW MOW OttCO AISOUIT 06110105 INTEREST FANNIE MAE CMOISERIES 2003.52 31393C538 KS-VO FUR 2210.88 Dig 07/25/2017 4.010 WM F1373141 AZ REPO INTEREST 0 06/10/05 INTEREST FEDERAL NATIONAL MTG ASSN SEWS 348 CLASS 1 Cu 11/01F2033 0.000 31348C8C9 5.556.44 RNA 1453273 AZ -n 0620105 INTEREST REPO INTEREST GOVERNMENT NAIOJL MTG ASSN SERIES 2004-30 CLASS SU 38374F676 2.939.07 C DUE 02/202032 Film F1373141 BR 4.110 rn 06110105 INTEREST W O M EREST FEEL HOME LOAN MTGCORP1P510109 SOWS 227 CLASSIC 31282YDN6 5.777.24 out 12/012034 5.000 MIA F1453273 C2 REPO INTEREST 06/10/05 INTEREST FREDDIE MAC CMG/SERIES 2886 313951288 171.90 SC4/0 FUR [DE 07/1502019 4.210 Firm F1523442 AZ r 0610105 INTEREST REPO MEREST FREDDIE MAC C1AOISERIES 2888 31395)2148 184.24 sc- FU DuE 07/15/2019 4.210 FIRM F1543217 AZ REPO INTEREST 06/1005 INTEREST FEDI. HOME LOAN MTG CORPOS10110 31282TOpi 4.386.67 URNS 228 CLASS IT) _ DUE 024012005 5.000 FIN F1453273 62 REPO MEREST 6OTTSE00 INS ANGS Eel 07401.081042 COI 1894P I 081:2700-Vida EFTA01260414 CLEARED 17IROUG14 ITS MOLLY OVARED SURSIVART OFFICE SERVICRYG YOUR ACCOUNT Bev Sterns Seanles Corp Bear. Stearns 6 Co. Inc. Orr Ifeemeell Cow *a BEAR 383 Madison Avenue New YOtt.. New York 10179 worart ram at 0 leS9 STEARNS FINANCIAL TRUST CO INC 21 ot niter/7' peace tune 1. 2005 awake Jone 30.2005 Transaction Detail (continued) ACC/AM Rumen TAxrArrA mace" C0 file tAsT sTATemeNT May 31.2005 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (cominuere SETTLEMENT MAW Origin DEW AUCUNI CREDO AMOUNT DATE DATE lltellSACTON ettarrirrat snisoucus• 06/10/05 MEREST mato STATES TREASURY NOTE 9128280147 16,918.58 DUE 0501/2007 3.500 MIA 11531268 A2 RESALE INTEREST 06/13/05 JOURNAL FANNIE IME CMCVSERIES 2003.13 313921042 6.318.034 $ RCR40 FUR 4.910 DUE 03125/33 HIM 11463225 02 -n 06/13/05 JOURNAL TERM REPO AGNIIIRVI FANNIE IME CMO/SERIES 2003-13 S RCR-VO FUR 31392/DKR 4.318.034 C 4.910 DUE 03/25/33 PIM 11643354 Al in 0611305 JOURNAL REPO AGREEMENT GOVERNMENT NATIONAL MTG ASSN SERIES 2004-S CUSS PS 38374F087 26,400.000 3.860 DUE 02/2003 RIM F1153278 32 TERM REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL MEG ASSN 38374F087 -26.400.030 2.000.000.00 06113105 SERIES 2004-5 CLASS PS 3.850 DUE 0203133 FILM 11643354 81 r 06/13/05 JOURNAL REPO AGREEMENT UNITED STATES TREASURY NOTE 9128280V9 41.000.000 61,152,500.00 MM 11640590 Al 4.12$ DUE 05/15)15 REPO AGREEMENT 06/1305 JOURNAL UNITED STATES TREASURY NOTE 912828DV9 78,000.000 79.462.500.00 FILM F1540558 A2 4.125 CUE 05115115 OTITS£00-019-ANGS TERM REPO AGREEMENT INTEREST UNITED STATES TREASURY NOTE 912828DV9 30.681.35 OM105 DUE 05/15/2015 4.125 FONT F1540556 A2 REPO INTEREST 027 07/01705:10712 001 MOW m I8 IJ IJ 00 IJ EFTA01260415 CUARED nvvaxer n8 OFFICE SEM:VG YOUR ACCOUNT weCtior 00140 Sia.330010 Dear, Stearns & Co. Inc. BEAR 383 Mermen Avenue New York per Shares Sonnies Ca0 Dne 1/WrOted, feta WM 112014049 STEARNS V 10179 FINANCIAL TRUST CO INC 22 rt SietrUner >F,000 June 1.2005 00,0.00 June 30.2005 Transaction Detail (continued) AAS00,1 TAS00,12 0.08ER REPURCHASE AND REVERSE REPURCHASE TRANSACTION S (continued) LAST 312/a0S7 an 31.2005 MADE OATE 200 IMMO= 0,300,11CH SY200110120 OMER Dan MOM 06/14/05 JOURNAL UNITED STATES TREASURY NOTE 00011 AWCIPO 912828099 81.030.000 61.152.500.00 RIM F1640690 A2 4 125 DUE 05115/15 C) TERM REPO AGREEMENT 06114/05 0 JOURNAL UNITED STATES TREASURY NOTE FTDA F1650641 Al 912828DV9 45,000,000 65.081.250.03 Z AGREEMENT 4.125 DUE 05/15/15 REPO T1 1 06/14/05 INTEREST UNITED STATES TREASURY NOTE DUE 05/15/2015 4.125 912928099 2.072.39 FITTA IVTF1640590 A2 REPO EREST C 06/16/05 JOURNAL FEDERAL NATIONAL MTG ASSN m 3136FAWE6 -15,246.375 SERIES 329 CLASS PO 11253320000 DUE 01/01/33 SOAP FILM F1673108 C1 REPO AGREEMENT 06/16/05 JOURNAL FEDERAL NATIONAL LITE ASSN 3136FAWE6 15.246.375 11,334,000.00 SERIES 329 CUSS PO OUE OU01/33 STRP REPO FnAl F1343275 EZ r 06/16/05 JOURNAL TERM ACTIECWOrt FANNIE MAE CMG/SERIES 2003.13 5 RCRILD FUR 31392/062 6318.034 ••••• • • 4.910 DUE 03125/33 TERM FIlM F1643154 A2 REPO AGREEMENT 06/16.035 JOURNAL FANNIE MAE CMO/SERIES 2003-13 3139210%2 4319.034 S RCR4/0 FUR 4,910 DUE 03/25/33 ITITS£00- 019- ANGS FM F1673224 R3 REPO AGREEMENT 021 oTiniccuto col wear b.) IJ EFTA01260416 CLEARED ThROLG..1 ITS vinOu.Y Om£D S.AsOwti OFFICE SERVICING YOUR ACCOUNT Btu. Swifts SeositeS OW. Steams & CO. Inc. 0t Menton. Cent, ,lath BEAR 383 Madisal Ammo New York. New York 10179 liteany. MS Yen 11201.3139 STEARNS FINANCIAL TRUST CO INC 23 or 3. s-ArtwINT n.ROD lure 1.2005 00,0ato.t Ha 30.2006 Transaction Detail (continued) Attain- m..ABAR TAxrAYDI ',wont On Ilk or: rArevem7 May 31.2005 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) SETREVOrt TRADE OLIOMIY DINT AMOUNT CREDIT AMOUNT EWE WC TROISACDOM Ca010,104 MADOIJOS 06/16105 JOURNAL FANNIE MAE CMOISER1ES 2003.13 313921082 -6318.034 507,000.00 S RCR40 FLT/ 4,910 DUE 03/25/33 F111A F1673224 Al 0 06(16/05 JOURNAL REPO AGREEMENT FANNIE MAE CMOISERIES 2003-13 S RCR-PO FLIR 31392JDK2 8,318.034 507,000.00 4.910 CUE 03/25/33 -n 06116105 JOURNAL MLA F1673224 A2 REPO AGREEMENT FEDERAL NATIONAL MTG ASSN 3136FCKC9 -79,592,834 74.345.000.00 SERIES 352 CLASS 1 C 0.001 DUE 07/01/34 rn 06/16105 JOURNAL FEN F1673109 ttl REPO AGREEMENT FEDERAL NATIONAL MTG ASSN 3136FCKC9 19.502.834 14,434,000.00 SERIES 352 CLASS 1 0.001 OM 07/01/34 Mu F1363275 02 TERM REPO AGREEMENT JOURNAL FEDERAL NATIONAL MFG ASSN 3136RXD6 48,340,469 2.700.000.00 06/16/05 SUES 353 CLASS 2 5003 DUE 07/01/34 r FRU t1673108 A3 REPO AGREEMENT 3.703.000.00 'arises JOURNAL FEDERAL NATIONAL MTG ASSN 3136FLUD6 -18.340.469 SIRES 353 CLASS 2 5,000 DUE 07/01134 Firm F1673108 Al REPO AGREEMENT 06/16/C6 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FCLC6 18.340.469 3.701000.00 ZTITS£00- 019- ANGS SERIES 353 CLASS 2 5,000 DUE07/01/14 Flue F1673108 A2 REPO AGREEMENT 027 07237/03:10.2 001 MM. 8 IJ IJ 00 EFTA01260417 CLEARED 'IliCt.)GLI at, VaICLLY 0A•40 SLILRIDaJa OFFICE SERVICING YOUR ACCOUNT SW. Stearns & Co. Inc. Bar. Slaws starlet Can. BUR 383 Morison Awn:* k 10179 Orelierarth feta Para Mir 11201-3$59 STDARNS FINANCIAL TRUST CO INC STA711/EVT Pew., An 1.2005 10.0Q01 Arc 30. 2035 Transaction Detail (continued) ACCOU% Welt TAXPAVIat MASER rFie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) (AST STAITYEVT MO 31.2005 stntwon WADE DATE DATE itimSAL101 DESCRPDON 517.1170UCLE97 wUt1ltY DUO WWII CA(CO MACAO 06/16/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FCLD6 18340.469 3.844.000.00 SERIES 353 CLASS 2 5.000 DUE 07101134 FILM F1363275 02 TERM REPO AGREEMENT 06/16/05 JOURNAL UNITED STATES TREASURY NOTE 912826099 -se.000.000 FITM F1670707 Al 48.060.000.00 4.125 DUE OS/15715 REPO AGREEMENT m 06/16/05 JOURNAL UNITED STATES TREASURY NOTE FEN F1650541 A2 4.125 DUE 05/15/15 912826DV9 65.000.000 65.081.250.00 TERM REPO AGREEMENT ci 06/16/05 INTEREST FEDERAL NATIONAL MTG A694 m SERIES 329 CLASS PO STRIP DUE 01/01/2033 0.000 3136FAWE6 32.109.85 Firm F1363275 Cl REPO MEREST H 0611605 INTEREST FEDERAL NATIONAL MEG ASSN 3136FCKC9 40892.32 SERIES 352 CUSS 1 Out 07101/2034 0.001 MIA F1363275 Di REPO INTEREST r 00/16/05 INTEREST FEDERAL NATIONAL MTG ASSN SERIES 3S3 CUSS 2 3136FCLO6 10.890.27 DUE 07/01/2034 5.000 Firm F1363275 02 REPO MEREST 06116405 INTEREST UNITED STATES TREASURY NOTE 912828099 5.260.73 OUE05'152015 4.125 Frrm F1650641 402 EITTSEOCINDANGS REPO INTEREST 027 07J01/03:10:42 OO1 Sir I8 IJ IJ DO An EFTA01260418 REARED THROJOH 911,eµ'1 0s740 3uStsetstty cencE SERVICING YOUR ACCOUNT SOS. S,e&ns St0/11t1 COS. BEAR Bear. Steams & Co. Inc. Tel \ellen^ Avenue ails" Cse 1Seuvech Cave Win 11701.281.9 STEARNS FINANCIAL TRUST CO INC 25 et p STsissesT POs700 lune 1.2005 TnStocks lst10 30. 2005 Transaction Detail (continued) ACCOSST MASER T•SPANTR watt" On rie REPURCHASEAND REVERSE REPURCHASE TRANSACTIONS Rocumec0 La.31 STATatnt May 31.2005 SEMMES! 1R&DE DATE OATE 11207SACTON COMPTON SMIIKX)040 00•11110 01130 NOUN 07101 AM:sse 06/17105 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FAWE6 4.921.570 3.652.000.00 SERIES 329 CLASS P0 CUE °noun STRP FMA F1683150 Al a AGREEMENT 06/1705 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FAWE6 15,246375 11.253.000.00 SERIES 329 CLASS PO -n DUE 01/01133 STRP RIM F1673108 C2 TERM REPO AGREEMENT C 06/17/05 JOURNAL FANNIE MAE CMD/SERIES 2003-52 AS4.0 RIR 31393CS39 17,451,605 in 4 010 DUE 07/25/17 FMA F1613222 A2 TERM REPO AGREEMENT C6/17/05 JOURNAL FANNIE MAE CMO/SERIES 2003-52 313930339 -17.451.605 ILS-P0 FUR 4.010 CUE 07/25/17 FITM 11613222 AS TERM REPO AGREEMENT 0611705 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FCBC9 43,929.377 10.000.000.00 r SERES 346 CLASS 1 DUE 11/01/33 FITM F1683152 A3 REPO AGREDAD/T 06117/05 JOURNAL FEDERAL NATIONAL MPG ASSN 3136FCSC9 -13.929.377 10.312.000.03 <ANIS 346 CLASS 1 DUE 1101/13 FIDA F1683152 Al REPO AGREEMENT VIITS£00- 019- ANGS 06/17/05 JOURNAL FEDERAL NATIONAL MPG ASSN 3136FCSC9 13,929.377 10.312.003.00 SERIES 346 CLASS 1 DUE 11/01/33 MA F1683152 A2 REPO AGREEMENT 027 07/0414.10142 001 1/1111W I8 IJ IJ 00 EFTA01260419 CAUSED TINOUOn rs NAGI, ONsID SLIANCoAr OFFICE SERVICING YOUR ACCOUNT Bear. Steams b Co. Sev. Sterns Semite. Cap. BEAR 383 Madison Avenue New Y New Ynh 10119 Cm/Anse:0 Cuts Math fr Ike Nei 11201-3850 STEARNS FINANCIAL TRUST CO INC 26 e a, ssArolCNT AENOD Ate 1.2005 INACON. Jove 30.2005 Transaction Detail (continued) ACCOuNT MAW TAAPAreli MAIM 00148 REPURCHASEAND REVERSE REPURCHASE TRANSACTIONS (contnuecr) LAST STATINENT may 31.2006 SETTIDADIT NADI DATE OATS IIIANYCTION CESEESPITh SYSSOUCIA, OUNITIN COM NAOMI CINOrt Aspaea 06/17105 INTEREST FEDERAL NATIONAL MEG ASSN 3136FAWE6 1.081.54 SERIES 329 CLASS PO STRIP DUE 01/01/2013 0.000 0 0622705 JOURNAL FITM F1673108 C2 REPO INTEREST UNITED STATES TREASURY NOTE 91282800 .28.000.000 213,210000.00 HIM F1730506 Al -n 06/22/05 JOURNAL 4.125 DUE 05115N5 REPO AGREEMENT UNITED STATES TREASURY NOTE 9128280W 48,000.030 48,060.00100 NM F1670707 A2 C &IRS DUE 05/15/15 TERM REPO AGREEMENT rn 06/22105 INTEREST UNITED STATES TREASURY NOTE DUE 05/1512016 RDA F1670707 A2 4.125 9128280W 10.439.70 REPO MEREST 06/23/05 JOURNAL GOVERNMENT Pi/MORAL MTG ASSN 38374F067 26.400,000 2.0)1000.00 crows 2004-5 CUSS PS 3.690 DUE 02/20/33 FITM F1643354 82 TERM REPO AGREEMENT r 06/23/06 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 38374F0B7 -26,400,000 2.615)203.00 3.690 DUE 02/2043 FITM 11743068 Al REPO AGREEMENT osavos INTEREST GOVERNMENT NATIONAL MEG ASSN 38374N:787 1,872.22 SERIES 2004-5 CLASS PS DUE 02/202033 3.690 Rim F1643354 82 STITS£00- 019- ANGS REPO INTEREST 06/27105 JOURNAL FANME MAE CMO/SERIES 2003-13 31392/062 6.196.744 S RCR.80 FUR 4.910 IDUE 03/25/33 my F1673224 As TERM REPO AGREEMENT 027 OTIOT/ONICbs2 001 NONA En I8 b.) IJ 00 00 0 EFTA01260420 CLEARED 11610004 011 wnCaa 0.6463 Svaai00/0 MICE SERVICING YOUR ACCOUNT —Sawa Sedfuts 06, Bear. Steams 8, Co. Inc. Cne Ikintech Crow, 1100 BEAR 383 Mason /120100 New York. New York 10179 W.46 Yerk 112014659 STEARNS FINANCIAL TRUST CO INC 27 0134 SIA06.16.1 PeRt00 0091. 2005 11460.146 A.6. 30. 2005 Transaction Detail (continued) ACCO20 110MER rAXPAVER ...out On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) 1AST 5TATEuEwr lay 31, 2005 SITIID.100 WOE DATE 0611 TRASS1C102 DESCRIP1101 0110CUCUSIP OU06112 Call MONT CREDIT NW 06/27/05 JOURNAL FANNIE MAE CMO/SERIES 2003.13 31392/0142 -12.393.489 S RCR-I0 FUR 4.910 W 03/25/33 Mu F1783380 81 E 0 06,27/05 JOURNAL REPO AGREEMENT FANNIE MAE CMO/SERIES 2003.13 S RCR4/0 FUR 3139210K2 6.196,744 492,000.00 4.910 DUE 03/25133 -n 08227/06 JOURNAL FTTE4 F1613184 At TERM REPO AGREEMENT FANNIE MAE CMO/SERIES 2003-13 31392.0142 12.393.489 984.000.00 $ RCR.V0 FUR C 4.910 CUE 03/25/33 RIM 41613176 A2 in 06/27/18 JOURNAL TERM REPO AGREEMENT FANME MAE CMO/SERIES 2003-13 S RCR4/0 nTR 31392X/K2 -12.393,489 984,000.00 4.910 DUE 03/2603 Fin' F1613176 A3 TERM WO AGREEMENT 06/2705 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374F6T6 -24,430,632 3.SERIES 2C04-30 CLASS SU 940 DUE OV20/32 r JOURNAL nTm F1783360 Cl REPO AGREEMENT GOVERNMENT NATIONAL NM ASSN 38374f6T6 24,430.632 1,297,000.00 06/27/05 SERIES 2004-30 CUSS SU 3,940 CUE 02/20) Frrm F161318232 82 TERM REPO AGREEMENT 06127,05 JOURNAL FREDDIE MAC CMO/SERIES 2886 31395.12118 -5.051.428 SC40 FUR 9TITSEOCIA19- ANGS 4.080 DUE 07/IS/IR ram F1783380 Al Rust AGREEMENT 021 0791/D5;1042 031 2693111 8 b.) IJ 00 00 0-0 00 EFTA01260421 CLian n.ROUSH aloCtiY OwW20 81/680)W17 OFFICE SERVICHG YOUR ACCOUNT Beet. Stearns & Co. Inc. Bar Swan Winton Cap. BakR 383 MaCoon Avenue New Yoh, New Yak 10179 Cro Veatch Coat Myth pow v 1120148$i STBCRNS FINANCIAL TRUST CO INC 28 STATOAINT PERICO 5.0ne 1. 2005 Th 0VGM Ant 30.200.5 Transaction Detail (continued) ArCON7 MAryilist TPXPAY211 Nolan. On Fle REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (anti/wed) LAST $TATEPANT May 31.2005 52171DA00 RAM 141E OAR MOSACTON cesatimcw symEcuOMP aMMUTY CM M400.1 MOO AMMO 06/27/05 JOURNAL FREDDIE MAC CMO/SERIES 2886 31395/2148 5.051.428 299000 00 SC-VV NUR 4.080 DUE 07/1919 FILM 71613160 A2 0 06/27/05 RECEIVED TERM REPO AGREEMENT UNITED STATES TREASURY NOTE DUE 05/31/2007 3.500 9128280W7 34.000.000 34.127.500.00 3.500 DUE 0501/07 m rnm F1780714 Al RESAIE AGREEMENT 06/27/05 DFJJVERED UNTIED STATES TREASURY NOTE 912828M -54.000.000 54.067.500.00 CUE 05/31/2007 3.500 3,500 OM 05/314)7 ci rum F1610952 A5 m 06/27/05 INTEREST TERM RESME AGREEMENT FANME MAE CMO/SERIES 2003-13 S RCR.V0 FLTR 31392JDK2 784.56 DUE 0305/2033 4.910 FILM 71613164 A2 H REPO INTEREST 06127/05 INTEREST FANNIE MAE CMO/SERIES 2003.13 313926362 1.589.16 S RCR.VO FUR DUE 03125/2033 4.910 MIA 71613178 A2 r 06/27/06 INTEREST REPO MEREST FANNIE MAE C443/SEMES 2003-13 313924092 1.589.16 S RCR4O CUR WE 0305/2033 4.910 nal 71613176 A3 REPO INTEREST 0607105 INTEREST GOVERNMENT NATIONAL MTG ASSN 383747676 2.094.66 SERIES 2004.30 CUSS SU LITTS£00 IND ANUS DUE 02/200032 3.940 F1TM 71613182 B2 REPO PINREST 027 07/01/01c1004 COI WOW 608aZOO-Vin EFTA01260422 0.1ARID ne0JGI rR VOCur PINGO SaitaltY OFTTCE SERVING YOUR ACCOUNT Ye ion Segura.. Co' Bear. Steams & Co. Me. Oro israsmith cat men BEAR 383 Madison Avenue New York. New York 10179 Pared Tot 11211.3059 STEARNS FINANCIAL TRUST CO INC 29 a54 STA2100.2 P21000 Are 1. 2005 Til2020.4 xne 30.2005 Transaction Detail (continued) ACCCvs7 441201P TAXPAYER row)/ on me REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continue.* LAT sta-rwKr May 31.2005 SEMINOrt WADI DATE Okrt TRAMSKTDPI caosmow mectieuSP OUANITY 01ST MO200 Cia0 06/27/05 INTEREST FREDDIE MAC CMO/SERIES 2886 31395/2146 478.04 SC413 FUR CUE 0735/2019 4.060 Wm F1613180 A2 0 06/2705 INTEREST REPO INTEREST UNITED STATES TREASURY NOTE DUE 051312007 3.500 9128280W7 55.734.58 FTM F1610852 A6 -n 06/300.5 JOURNAL RESALE FREEST FEDERAL NATIONAL MTG ASSN SERIES 352 CLASS 1 3136FCKCB -8,518.623 6.373.000.00 0.001 DUE 07,01/34 C mu F1813372 81 REPO AGREEMENT rn 06/3005 JOURNAL FEDERAL NATIONAL MEG ASSN SERFS 353 CLASS 2 5.000 DUE 07/0134 3136FCL06 -9,170.234 1.737.000.00 M).4 F1813372 Al REPO AGREEMENT 06/30/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FCLD6 18.340.469 2.700.000.00 SERFS 353 CLASS 2 5.000 DUE 07/01/3/ FITAI P1673108 A4 r 06/30105 JOURNAL TERM REPO AGREEMENT FEDL NOME LOAN MTG CORPOS10109 31282Y0N6 .9.552.843 1.861.000.00 SERIES 227 CUSS 13 5.000 DUE 12/01/34 FITU FI813372 Cl REPO AOREEIADO 06/30/05 INTEREST FEDERAL NATIONAL MTG ASSN 3136FOUS 3.633.00 SEWS 353 CLASS 2 8TITS£00- 019- ANGS DUE 07/013034 5.000 Mm F1673108 AA REPO INTEREST TOTAL 5-607 638 910 69 5626 942 937.32 027 020105:104.2 001 VIY202 8 b.) IJ 00 EFTA01260423 CLEARTO 11-ROLON nA MICE SERVICING YOUR ACCOUNT ANCT.LY Cvn40 SutLIOLTAv Sew. Stearns b Co. Inc. Our. Siwe Swann Cao BEAR 383 Madison Avenue Naos Ow *meth Coln MYPI . Tn Vat 11201.3419 STEARNS 10179 FINANCIAL TRUST CO INC 30 au STATTWONT PERCO Are t 2005 1NROUCM :Lro 30.2006 Transaction Detail (continued) ACCOUNT Vara ?AMNIA HAW On Fie MISCELLANEOUS LAST ENTININT May 31.2005 OATS MOUNT IRMGACTION COOTANTON OM ACM CAMTI OTICUNT 05/01/05 JOURNAL TO CMDY A/C 021-5212841 203,925.00 06/02/05 JOURNAL TO CMDY NC 021-52128-Fl 469.445.00 0 06/03/05 06/07/05 JOURNAL JOURNAL FR CMOY A/C 021.52128-F1 FR CMOY A/C 021.5212841 570,183.00 35,468.23 06/09/05 JOURNAL TO DANMC 021-5212841 88,767.00 -n 06/1005 06./13/05 JOURNAL JOURNAL FR CMDY NC 021-5212841 FR CMDY MC 021-52128-F1 144.391.50 897.315.00 C 06/14/05 JOURNAL TO CMDY A/C 021.5212841 130,858.50 in 06/15/05 osnems JOURNAL TO CMDY A/C 021-5212841 FR CMOY MC 021-52128-F1 79985.00 6 611 00 06/17/05 JOURNAL TO CMDY A/C 021-52128-F1 228.374.50 06/21105 JOURNAL FR CMOY A/C 021-52128-F1 42.66900 06/23105 JOURNAL TO CMOYA/C 021.52128-F1 317,653.00 062005 r 06/28/05 JOURNAL JOURNAL FR CMDY NC 021-5212841 MAY 05CLEARING FEES 2,250.00 6,065.00 06/29/05 JOURNAL FR CMDY NC 021.52128-F1 75.990.50 06130/05 JOURNAL FR CMOY A/C 021-52128.F1 100310.50 TOTAL 5-1.521.258.00 51.878.994.73 6TITS£00- 019- ANGS 027 0710146:1042 001 WHIP IJ IJ EFTA01260424 CLE7.1020 111ROU3/4 ITS WHOLLY OM OD SLOSCWAY OFFICE SERVICING YOuR ACCOUNT ice.Siumt Samosa en. Beet. Stearns & Co. Inc. Om. 1.1WOHN Ciao MAK BEAR 383 ?Mason Avenue Nee. vork, '10,a 1C179 Mr*AAA. Neff WO 11201.12511 STEARNS FINANCIAL TRUST CO INC 31 ct STA/112110 P01170 ire 1.2005 THROV7H mor 30.2005 ICCOLort MAW Trades Executed Pending Settlement 7/7:PAYER WNW On FM LIST STA1131110 Mly 31.2003 3.1 130 snocuCanla OUMOTO Ma OM MODU10 agar MOW OO111 17 DM maassenoN otsertonaa UNITED STATES TREASURY NOTE 912828073 -15000.000.00 99.9977 15,001,132.58 07/01/05 06/30/05 SOW DUE 061302007 03.625% JD 30 0988778197972 REU3 7 6 % TO MAMY GVER REF02# 51813788M81 UNITED STATES TREASURY NOTE 912828073 -50.030000.07 99.9977 50.003.775.27 07101/05 06/30105 SOLD DUE 06/3012007 03025% JO 30 0988778197972 -n YIELD 3,826 % TO IA/AIM GVER REF • 61813788 A1 51080797 15,000,000.00 100.2167 15.032.812.50 07/14/05 06103/05 BOUGHT FNMA 30YR TBA GTO SETT. 0766 C 01.E 07/01/2035 05.000% in 0967021011332 REF * 2005060357110000 BS SA90797 30,000,000.00 99.9609 29.988.281.25 07/14105 06/23/05 BOUGHT FNMA 307R TBA GTO SETT. 07/06 DUE 07/01/2035 05.000% 0987022118099 REF r 2005062357210030 ES FNMA 30YR TBA G1D SA80707 -30.000.030.03 98.6195 29.555.859.38 07/14/05 05/06/13.5 SOLD SETT. 07/05 r DUE 0741(2035 05.000% 0987021011332 REF • 2005060557410000 BS FNMA 30YR !BA GTD SA80797 -15.000.003.03 99.5937 14039.062.50 07/14/05 06/06/05 SOLD SETT. ONOS DUE 07/01/2035 05.030% 0987797115332 • 2005050757140000 BS SS Cf 06.03435 A OZTTS£00-019-ANGS FNMA 30YR TBA GTO 51080797 -15.000.CCO.00 99.5937 14.939.062.50 07/14M5 06107/05 SOLD SETT. 07/05 DUE 07/01/2035 05.000% 0987797115332 REF 12005060757140000 BS 027 ONenaLican col WIMP rn I S b.) IJ 00 IJ EFTA01260425 CLCARED 1700.0. 01 0117CE SERvia% YOUR ACCOUNT vnteLLY OwlEO SLAAJWART BEAR Bear, Steams & Co. Inc. 383 Mattson Avenue Sw Swim Mown CMA VeroWS Oros *oh STEARNS om New Yitlair 10179 issit201MLW FINANCIAL TRUST COM 32 eternamy moo An I. ZOOS MOONS Are 30.2005 Trades Executed Pending Settlement (continued) ACCOUNT Maw TAMS.% MOWER en File LAST STAMM:NT MSS 31.2005 SEMDAEM TMOE DATE MIT MANSARION DOORMEN SOMML0.60 CMAMITI MEE 07/14A)5 06/07/O5 CANCEL SW. FNMA 30YR T8A GM OM MCOM MOM MOM SETT. 07/05 SA80797 -15,000.000.00 99.5937 14,939,062.50 DUE 07/31/2035 05.030% 0987797115332 REF • 2005050757140000 85 AS OF 08/07.05 07/14/05 05/19/06 SOUGHT FNMA-30YRONIAAIGTD SEIT.07106 54082870 30.000.000.00 100.8671 30.260.158.25 -n 07/14/05 05/23/05 DUE 07/0112035 05.500% 09872130211332 REF 5 2005051957050000 65 SOUGHT FNIAA-30YRIFNMAKID C SETT.07/08 54082870 30,000,000.00 101 30,300,000130 in WE 07/002035 05.500% 09 35514332 REF8 •712005062357100000 BS z 07/14/05 05/8/05 SOW FNMA-30YRIFIIMAXM 507.074076 DUE 07/002035 06,500% 54082870 -30,000.000.00 100.5156 30,154,687.50 098728021132 REF • 200605 30637450000 BS 07/14/05 05/28/05 SOW FNMA.30YRIFNM40070 SA82870 430,000,000.00 100.9531 r S100706 DUE 07012035 05.500% 0987018110332 REFS 2005052657180000 BS 60.571.875.00 07/14/05 06108/05 BOUGHT FNMA 30YR GTD SETT, 07/05 54082896 50,000,000.00 102.6054 51,302,734.38 CUE 07/01/2015 06.003% 098 97 11533 REF •77 20050607 257180000 85 INTS£00-019-ANGS AS Of 06106/05 027 0701/001042 OM MOW I77 8 IJ TJ EFTA01260426 =ARM neCuCe. ITS VORILLY OVAIRE scaszoneen OrDC( sERvaNG YOUR ACCOUNT MR. Sun Swan Owe Bear. Steams a Co. Inc. 1111RXIC/1 OMR MIT BEAR 383 Madison Avenue N Y k 10179 NPR rat 11201.35W STEARNS FINANCIAL TRUST CO INC 33 a 31 STATEWNT CARCO June 1.2005 7143AJAN June 30. 2005 A•zEOUNT HAWSER Trades Executed Pending Settlement (continued) TAXPAYER 111AXEER CORP LAST STATEWERT WY 31. 2005 5191002rt !VEX COE 003F TRAPGFCTOI OESCRIPTION SYROCECuSsu Ma'am Peet 018n &ROM CRTC* FEAOURI 07/14/05 06/03/05 SCAB FNMA 30YR GTO 5A82898 -50.00000060 102.7968 51,398,437.50 SEN. 07106 DUE 07/01/2035 06.000% 0967021011332 0 TOTAL REF * 2005060357070000 95 5171.823.046.88 $266.563.892.23 iv. SR PARR de AN sew* nal, (the, ARRA Ors Semen -n C Your messages rn Bear Stearns receives payments or other remuneration from the advisers. NOTICE OF CHANGE PURSUANT To TRUTH IN LENDING SEC RULE 10b-1S Ear distributorS or other affiliates of certain of the mutual funds available through Effective no earlier than thirty (30) days from your receipt of this statement. Bear Stearns. Such payments or remuneration are for administrative. the annual rate of interest charged on any credit extended to you by Bear - 1 technological Cr other services provided in connection with fund accounts and Stearns for the purpose of purchasing, carrying or trading in any security or are generally calculated based on the amount of assets held In the accounts. other property shall be based CO either the Bear Steams Margin Basis Rate. Such payments or other remuneration are in addition to Shareholder servicing the Bear Steams Fed Funds Rate or the London Interbank Offering Rate r and distribution fees that Bear Stearns may receive. Funds whose affiliates do rot make payments to Bear Stearns. including funds that may pay a higher or CUBOR1. as notified to you upon request. The Bear Stearns Margin Basis Rate will be quoted daily by Bear Steams at our main office in New York. Factors loner rattan. may be available to you. affecting the determination of the Bear Stearns Margin Basis Rate will include the short-term market interest rates quoted by money center banks and the Federal Reserve and the rate that Bear Stearns is charged for borrowing money. The Bear Stearns Fed Funds Rate Is the rate for U.S. dollar funds. as quoted by an independent broker of such funds selected by Bear Stearns for the last transaction completed prier to 9:30 a.m. (Eastern Time) on the ZZITSEOCIN9- ANGS business day on which such rate is determined. The annual rate of interest be no more than 3% above the Bear Stearns Margin Basis Rate or 4% above either the Bear Stearns Fed Funds Rate or UBOR and will appear on your monthly statements. 017 07101.36.10 42 001 111103P to I S b.) IJ 30 so EFTA01260427 CLEARED 11WOLON ITS LAHOUN OWNED SJIMIDARN OFFICE SERMONG YOUR ACCOUNT BEAR Boar. Steams & Co. Inc. 383 Madison Avenue Cat. Mem. Swans Masons On 0 - e 'AMMO, awn Brossan It. Yam 11201.385P New York. Now York 10179 STEARNS FINANCIAL TRUST CO INC 34 nth STAnDeNT PFP300 Sala 1. 2005 weet7)), lune 30.2005 ACCOLte NDWIER 'MOANER rambei Onfos LAST STATEMENT May 31.2005 12? Ifdescribed Bear Steams makes changes in any of the credit terms and conditions 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 is tied to 0 the Bear Steams Margin Basis Rate, the Bear Stearns Fed Funds Rate or UBOR and may fluctuate with those rates. The changes in rates resulting from zT 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). Except as described above, the Truth in Lending disclosure previously provided to you remains in effect. z End of Statement r ENTS£00- 019- ANGS 027 07/010) '042 00' vmro I S b.) b.) so V74 EFTA01260428 CLEARED THROW., ITS ?MOLLY OSSEO SLISSOARY orncc SERVICING YOUR ACCOUNT EtEle Sun Seta CMS Beer. Steams & Co. Inc. BEAR 383 MECIDADEL nvmue New Yak. New York 10179 Oft *MOWN COW MST groom% Wet Tot 11201.31111 STEARNS clIM=M RNAROAl. TRUST CO INC ACCOUNT DICuTiyE GINA GOVT BONO STATEMENT PERM Apt 30. 2005 wmtboarsicrams.teen THROUOM Mel 31.2005 VISIT OUR WEBSITE ACECULX NUMBER What's In This Statement TAXPAYER MAAS On Fie LAST STATELAPM 101 29. 2005 Financial Summary 3 FINANCIAL TRUST CO MC Your Portfolio Hollings 4 CO JEFFREY EPSTEIN Transaction Detail 7 6100 RED HOOK QUARTER Trades Not Yet Settled 37 STE B3 ST THOMAS VI 00802 -n C Market Value of Your Portfolio Your Portfolio at a Glance in TOTAL VALUE OF SECURMES THIS PERIOD 3.052,376 Cash 6 EquWelent -2 2 $I1122 80: LONG ACCRUED 'MEREST 27.070 Naps $3.0$2.376 Immo 62.900.671 NET CREW BALANCE 122.206 Oral manor value NET EQUITY THIS MEMO 63.201.652 fl Litt statement's market value r NET EQUITY LAST STATEMENT 3.131.368 CHANGE SINCE LIST STATEMENT 70.283 There are no 'Stop Loss' ceders or other pending buy or sell open orders on file for your account. PZITS£00- 019- ANGS * I Q flit summary is rtraMeui p wpm*,ow a e nn MMESE SS • IMESPOWE lit swabs VOA, Se reamsfor Le., worth Soo mane sidt bI IPtalitt WELLIMISOn 027 OLD/ CS 0901 CO1 WOE rn I S IJ IJ so EFTA01260429 CLEARED 1, ITS %nay, OVrtar0 SueSCIARY Sat Snsrn Startles cop. On Winn* term Math 11301.]859 FINANCIAL TRUST CO INC 2e 0 0 z - STATEMENT BACKER IS PRINTED ON THIS PAGE 0 z r _ SZIT SEGO IN9 ANGS 0" <4.01.4)509 03 0), MVB L HifiZOO- Vida EFTA01260430 01.1.Na0 netOuram ITS *CtlY OWNED tanISOMY OFFICE SERVICING YOUR ACCouNT Dm Sam StanaeS Carp Bear. Stearns 6 Co. Inc. BEAR 383 Madison AreflU9 - Cony Wan beeterk Ns* at STEARNS 10179 FaiANCiaa. 1RuST CO INC 3r)* SlatemeNT Mai Apt 30.2035 ThPCLGM May 31, 2005 AOCOula ,ttnalfia Cash Flow Analysis Income Summary nVIPAYE9 MAGER On Fa ONSPER100 WAR TO DAN rws num IAST 'Tamara WI 29.2005 U.S. Gott. Bond rm. 766.042.23 3.462.043.46 OpeningBe lance 5180.992.40 Govt. Agency inc. 823071.67 3.397.846.03 Securities Sold 1,056,491,072.96 Corp. Bond It 106.943.92 595,471.88 Cividonisitnterest 1.696.447.33 Crete Balance rm. 389.51 3.22171 0 1.1iscetlaneous 936,131.00 Rewse Repurchase M 88,412.07 1,082,145.71 Amount Credited 31.059.123.651.29 Total $1384459.40 58.540.730.79 Z T Semitic, Bourpt -1.056.980.24543 Bond Ptrchase Irt -514.432.42 -4.940,434.41 F I Repurchase Int. Erp. -240.018.09 -882.877.32 Funds Withdrawn -71.505.00 DivslabldSlICOICSI Charged -514,432.42 m Macellaneous Amount Debited .1,616,254.91 S-1.059.182.437.86 Portfolio Composition Ceantesh Eqievelent 122,206 Net Cash AttMty -58,786.57 Your Portfolio Fixed income 3,052.376 Allocation Closin9Balance 3122.205 83 Total 53.174.582 r Cash a Equiralentl 3% Cash Balance Summary U041.0 Niacin 180,992.40 122,205.83 9ZITS£00- 019- ANGS Net Cash Balance 5160.992.40 5122,205.83 Iced Income 97% wiars en* as Win Orate ew enbila vita. i action Meares• n dela. rod a* Naar nate. ean el ass whet. 01, 0601O5OD03 00i va7a En I S b.) IJ so 00 EFTA01260431 0.4.446.0 THROWN ITS varCtLY VANED Suartirmay OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. Bear. SWIM 940IllieS Cap. BEAR 383 Madnon Avenue Ors Maation Coeur North Saw rot 11201.3ese STEARNS a sssk '0179 FINANCIAL TRUST CO INC 4 fl SWF...a Niece AO 30.2005 Taarrornar May 31.2005 Your Portfolio Holdings Apr.. air ?awe CASH & CASH EQUIVALENTS tanwrIR ritaa3CR On ri0 LAST STAYruirui Jai 29.2005 lerrite ESTIMATED Oath` DIESCMIDON 51.1.160..laairr Otiverry FREE VM. ANNUAL NCOWE Wu) Mr CASH 6.41).1.CE 122.201 TOTAL CASH SE CASH EQUIVALENTS $122.104 FIXED INCOME m Government & Agency Obligations C DCS01,11C11 ErtiraCUCuSir ACC TAN OJA.Pintr PACE MA rt MEC AC00.40 ISWATE0 CARP, in WIRES. QOW1 NOW Eiter GOvErthmENT NATIONAL MTG ASSN 31337469.15 AMON 14.948 788 6.4165 959.163 18.772 614.395 64.0540 SEEMS 2054435 CLASS SP DATED DATE 05/21/04 B0311 ENTRY ONLY DUE 12/20/2029 4.110% FACTOR - .91792270 GOVERNMENT NATIONAL MEG ASSOC 383740115 WON 14.940.760 7.2878 1.085.671 SERIES 2004-041 CUSS SE DATED DATE 06/23.04 r BOOK ENTRY ONLY OUE 05/20/20 FACTOR - .9330 016410 FEDERAL NATIONAL MTG ASSN 31393C2C6 WON 12.733.059 7.9111 1.007.321 6.298 497.463 SERIES 2003.49 CLASS SW 49.4245 DATED DATE 04f30.03 BOOK ENTRY ONLY DUE 011252033 3.910% FACTOR - .52384050 LZITS£00- 019- ANGS 027 44.01.0501.03 CO1 •1170 rn 8 IJ IJ Co 70 EFTA01260432 CLEARED TITROUGH ITS MOLD? Omen SuleaCWIT OFFICE SERVICNG YOUR ACCouul bow. Sum* Servers Coo Beat. Stearns di Co. Inc. Ore Ihwato Os MAN BEAR 383 Madison MOM! New Oak. Now York 10179 ERNAIDA Nat Tat 1/2014616 STEARNS FINANCIAL TRUST CO INC 5 en STATEMENT PERKO NVII 30.2006 IMMO. /My 31.2005 Your Portfolio Holdings (continued) A=020 NuMEN TANANA:II µRat* NAST STATEVENT Apnl 29. 2005 Government & Agency Obligations (conanuee) 'NCI laNtXD MOWED MAROC DESCR•TO( SwASOLCUSIP rret WUJTI Neu mAtal VALUE TOMO ANNUAL WOW WOO MI FEDERAL RAMONA'. miG ASSN 3136FCBC9 IARGN 1 83.1841 1 SERIES 346 CLASS 1 C) DATEDOATE 11/01403 BOOK ENTRY ONLY O DUE 11101/2033 FACTOR -1.00030030 Total Gcnrernmem& Agency ObligatIcas 13.062,376 127.070 11.112.258 TOTAL FIXEDINCOME 1.05 76 127.070 11.112.253 11 m YOUR PORTFOLIOHOLDINGSACCRUED INTEREST YOUR PORTFOLIOHOLDINGSESTIMATEO ANNUAL INCOME 127070 51.112,258 YOUR PRICEDPORTFOLIOHOLDINGS $3,174.582 Repurchase and Reverse Repurchase Transactions r with Bear,Stearns& Co.inc. outstanding asof date of statement PNRCIAAStr REPURCHASE PRIMO PURCHASE POW ACCRUED REPO GVATTTITY START CATE OWE RATE POWCIAN RIRRES' DACE WOUND OAP DESCRIPTION YOU PROVIDED GOVERNMENT /44110MILL AM ASSOC (MARGIN) 04/25/05 OPEN 0.000 -26.400.030 38374F007 SERFS 2034-5 CLASS P 34600 02/20133 8ZITS£00- 019- ANGS YOU SOLD FANNIEMAE STRIP (REPO) 05111105 06410;05 3.290 -10.851.000 .20.824 -30.001000 3136FAWE6 SERIES 329 CLASS P0 12,01/32 YOU HOLD FANNEMAE STEW (REPO) MVOS 06116106 3.290 -11.334.000 -16472 -30,959.779 3136FAWE6 MC 329 CUSS PO 1210162 027 OVOIRMOTOS 001 MOO 8 IJ EFTA01260433 CERMET 21.0123R rrs lAnCtre OWNED SuBSDARY OFFICE SERVICING Yam ACCOUNT Bear, Stearns 8. Co. Inc. Bar Sterns swarm c BBR 383 Madison Avenue Da 1.44.0e0 Owe Nag 8223.03 We Tort 11201.3859 STMRNS New York, New Y54 10179 FINANCIAL TRUST CO INC swore., PEREO Apnl 30.2006 WRONG.. May 31,2005 Repurchase and Reverse Repurchase Transactions (continued) AccotAR ..j, TµPAYfil µa18M1 on Fie with Bear, Stearns& Co.Inc.outstanding as of date of statement (continued) STCEVENT Mel 29.2005 PERCHASE/ ROVIOOSE PINCIWG PURCHASE WEI ACCRUED REPO ouvonv START WE DATE RUE PROC1214 MEREST PACE WONT Oar DESCRIPTOR YoU SOLO FANNE ME STRIPS (REPO) 05/1605 06/18106 3280 .14.434.400 -21.105 .23.000.000 3136FCKC9 SERIES 352 CLASS PO 07/0104 YOU SOLD FANNIE VAC STRP (REPO) 05/18105 06/16/05 3.290 4.844.000 -5.620 -20.000.000 3136FaD6 SERIES 353 CLASS 10 5.0000 07/01134 You SOLD FEDERAL NATIONAL WC ASSOC m (REPO) YOU Nab 05/17/06 06/1006 3.290 -1.008.000 -1.381 .25.000,000 313930538 SERIES 200342 CLASS 4.0100 07/25117 GOVERNMENT NATIONAL IATC ASSOC (REPO) 0511705 08/10/05 3480 4.340.003 .1,936 .27,112.874 38374F6I6 SERIES 2004.30 CLASS 4,1100 02/20/32 ci YOu sous m (REPO) YOU SOLD 05/20105 060005 3.290 -996.000 -1.092 -25.000,030 313921310 FEDERAL NATIONAL MTG ASSCC SERIES 2003.13 CLASS 4.9100 03/25/33 FANNIEMAE STRP (REPO) 05/2505 06/10/05 3.290 4,800.000 -2.430 -10.000000 3136FCBC9 SERIES 346 CUSS PO 11/01/33 H YOU SOLD FEDERAL HOME LOAN STRP (REPO) 0925/05 060005 3.2110 4.960:00 4.527 -20.000400 3128211446 SERFS 227 CLASS 10 5.0000 12101/34 r You SOLD (REPO) 05/2005 06/10105 3.290 .3400.000 -1,919 -20.000,000 31282YDP1 FRECOELMC STRP SERIES 228 CLASS 0 6.0000 0210105 YOU SOLD FEDERAL HOME LOAN ETC CORP (REPO) 050505 OPEN 0,010 4 4.724.539 313953210 SERIES 2886 CLASS SC 4.2100 070509 YOU SOLD FEDERAL 11.013NAL MO ASSOC (REPO) 0926/05 06/1006 3.300 425.080 -288 -12.500.000 31391082 SERIES 2003.13 CUSS 4.9100 03/2933 6ZUSEOCIND- ANGS YOU PRO41010 FEDERAL NATIONAL MTG ASSOC (MARGIN) 05/2605 OPEN 0,000 42,500.000 313921002 SERIES 200343 CLASS 44100 0305/33 0841/05:0003 001 I8 IJ LJ so DO IJ EFTA01260434 CASARIO TROLOCm ITS WHOLLY OANCO SUMMARY OFFICE SECNICANG YOUR ACCOUNT tow. Runts Subs Ca Bear. Steams & Co. Int. Cris lAsseistA Cosa LSO BEAR 383 Madison Avenue 1V.79 Ender. Par Vas 11201.3539 STEARNS FINANCIAL TRUST CO INC 7 et )4 STATOJENT IRMO Apil 30.2005 TWROUON Ian 31.2005 ACCOUNT POSER Repurchase and Reverse Repurchase Transactions (continued) Tatty waft OII rie with Bear, Steams& Co.inc.outstanding as of date of statement (continued) LAST STATEMOR APE 29.2005 POW= SISLACHISI PROW PUOLTIATI ARCO AMMO ADO COMM SIM On OAR Mn PRTSCOIL POIRLSO NCI AWOL CUSP ECTORTITO YOU SOW USIA 41250 05/15/15 (REPO) 05/27/05 OPEN 2.640 48095.000 -14.984 -38.000.000 9128280V9 0 YOU 904.10NT (REVERSE) 05/31/05 OPEN 2.830 54.000.000 4.245 54.000.000 912828DW7 uSIR 36000 06/31/07 TOTAL REVERSE REPURCHASE TRANSACTIONS 151.000.000 54.245 TOTAL REPURCHASE TRANSACTIONS 5.03.175.001 140./1 1 1 • Miteron dol* m z Transaction Detail INVESTMENT ACTIVITY TATREMENT MOT OUT MOOR ORM AMMAR CAR DATE RARTACTION DESCRITSON SAW/CUSP SAMMY ICE r 05102/05 04/27/05 B003HT GOVEROADIL NATCNAL LOG ASSOC SERIES 2C04-041 CLASS SE DUE 05/2012030 38374GY55 15.073.792 ACCR. INT. 7.15625 107%718.27 21.153.5$ 0987049814332 REF S 200504275716=00 BS 090205 0424105 SOLD unnto MIES TREASURY NOTE 912828056 40=0.000 100.05469 50.027.343 .75 DUE 0400/2007 03.625% AO 30 9.850.54 6192019 YELD 3.596% TO MATURITY OETTS£00-019-ANGS OVER REF 0 01181006 Al 05105/05 PRINCIPM. EEtt HOME LOIN MTG CORP•510110 31282Y0P1 -236.730 SERIES 228 CLASS 0 6.030 DUE 0201/35 PRINCIPAL REDUCIN 064506 027 09010.0.03 001 TOTS rn 8 IJ IJ so DO IJ IJ EFTA01260435 atoto Thaw>. ifs 'Mar °YAW SAAIMPARy OFFICE SERVICING YOUR ACCOUNT Boar. Stearns & Co. Inc. 103, warn Soatuts er0. BEAR 383 Madison Avenue Cr* Lleurnien ewes Malt 11201-3853 STEARNS New York. New Yak 10179 FINANCIAL TRUST CO INC S r 14 STATI3.0941 IMOD Awil 30.2005 11.00LCut May 31.2035 Transaction Detail (continued) ALCOt.tiT NVIMER TAseAVER oitmeER INVESTMENT ACTIVITY (continued) usT wernert Apl 29, 2005 SATIDADrt TRADE owl DATE TWISACTION OESOIWTION Sisecucts• clown MCC Con MiCvla CUM mem 06409105 05/0605 SOLD UNITED STATES TREASURY NOTE 9126280M9 -20.000.000 97.92188 19.584.375.03 DUE 02/152015 04000% FA 15 SPECIAL INSTRULMONS ACC/. TNT. 182425.41 C) YELD 4,262 % TO MOWRY GVER REF • 61267694 A3 WKS O 05/09/05 05.06/05 EICUGI4T UNITED STATES TREASURY NOTE CUE 0400/2007 02625% AD 30 912826056 30.000000 IIXR. INT. 99.92813 29.948.437.50 26.596.47 0988016192099 YIELD 3,716 % TO MATURITY -n 06/11/05 05/06.05 BOUGHT GVER etc • 41261032 Al GOvERMAEIrt NAnCwAL WIG ASSN SEWS 2004-035 CLASS SP 38374GPJ5 15.096208 660625 1.042.581.89 Ma M. C CUE 12/20/2029 04.210% 0987000510332 37.073,77 rn REF • 20150506577200:0 85 AS OF 05/06/05 z 05/12105 03/31/05 BOUGHT THIN-3C0YRTFNMAIGTO SETT.05/04 DUE 05/0112034 05.000% 0987135514132 5470993 20.000.000 97.49219 19.498.437.50 REF S 2005033157140000 85 05/12.05 041205 BOUGHT Fa30YR010, 03010 5679993 20.80:1000 98.13261 m628562.50 SETT.051.14 r DUE 05/01/2034 05.000% 0987016110332 REF • 2005011257300000 85 05/12/05 0407/05 CANCEL SELL EMAT.-30YRIFIAMIGTD 5379993 40.000.800 97.92181 39.168.750.00 SETT.05/05 DUE 0561/2035 05.000% 0987021011332 REF 0 200504075722C000 CS AS CC 04/07/05 TO 03. PREVIOUS SELL TEITSEOCIN9- ANGS Oa? 01811058001 001 NMI I8 b.) IJ so 00 IJ EFTA01260436 [LW= TN:GOGH ITS W90.41. OAK° 19.94101892 CFFICE SERWCING YOUR ACCOUNT Elar.1.68ornt Snits CO 3e&. Steams & Co. Inc. Cm Menet en Nati BEAR 383 Madson Avenue Now York. New York 10179 nflyri. RI. Yon 112014869 STEARNS FINANCIAL TRUST CO INC 9 nr /e synnaewv PCFaCO Apdl 30.2005 Twouom May 31.2005 Transaction Detail (continued) ACCOUNT nestle Inn teJUIP On FM INVESTMENT ACTIVITY (conerwed) LAST trAnnawir rell 29. 2005 WITLEVENT lief 0,11E OAT 01M680:108 FCESC9911:91 Nx4A. PRIX 0(12128/010 CREDIT AVOW 05/12/05 03/31105 CANCEL BUY 30YR07846011) S5r79093 -204900 °UmniT .000 97.49219 19,498.437 .50 SETT.05/05 DUE 05101/2035 05.000% O967135514332 BS O 04/12/06 CANCEL BUY REF S 2005033157140000 AS OF 03/31,06 TO CXL PREVIEWS OUT 5A79993 -20.000.000 98.13281 19.826.562.50 05/12/05 ITOM40YRITNIMIGID -n SETT.05C6 DUE 05/01/2035 05.000% 0967016110332 REF • 2005041257300000 BS AS OF 04412/05 TO CA PREVIOUS BUY C rn 0572/05 04/07/05 SOLD Nam.30/167,8%)610 5277.05104 DUE 05/01/2034 06.000% 0987021011332 SA79993 -40.000,000 97.92189 39.168.750.00 REF • 2005040757220000 85 06/12/05 03/31/05 BOUGHT FNUA-30YRIFI64/8GID MUMS 20000.0:0 99.89063 19.978.125.00 SETT.05/05 DUE 05/01/2035 05.500% 0987021011332 REF * 2005033157150000 85 r 05/12105 04/12/05 BOUGHT F74/14.30TRUNMAIGTD SETT.05/C/5 DUE 05/01/2035 06.500% MUM 20.000.000 100.37500 20.075.000.00 C467280211332 REF w 2035041257400000 BS 0912/05 04107/05 CANCEL SOS F11144-30YRHNIANGID MB2389 40.000.000 100.25781 40.103.125.00 S577.05105 DUE 05101/2035 06.500% 0987021011332 ZEITS£00- 019- ANGS REF • 2005040757210000 85 AS CC 5 TO CM PREVIOUS SELL on aseteeseicti 001 rift EFTA01260437 0.EARED liflarear IS wirOUX OARED SAISHWAY OFFICE SERVICING YOUR ACCOUNT Bear. Steams 6 Co. Inc. Buy Ruins SAWA*. Ct. BEAR 383 Madison Avenue ow meeitor Pet> Waal &t,t rtre Vol 11201.3851 STEARNS New York. New York 10179 FINANCIAL TRUST CO INC 10 en STAntec aFROCI *pi 10.2005 n•aalGri May 31.7005 Transaction Detail (continued) RPC0wirl MANOR TAirarerFA HAW On Fla INVESTMENT ACTIVITY (centrus6) tar STATO/Erar April 29.2005 MAIX WE OAR ritANSieltd 013CRPTION SWIIOUCUPP 00Marla Fraera Ott AMMO 010:41 AVOW 05712/05 03/31/06 CANCEL BUY FmAA-3CARIFNMA)GTI) 57.82189 -20.000.080 99.89063 19.978.125 .00 SE11.05/05 05.500% DUE8702101 09 05/01/2035332 1 REF • 2005033157150000 BS 0 AS OF 03/31/05 TO OIL PREVIOUS BUY 05,12.05 04/12/05 GAVEL BUY FRIM•30YRIRRRAKTD SA82389 .20.000,C00 100.37500 20.075,000.C° SETT/3,6/0S DUE 05.01/2015 28021133205.600% 1 1 0987 REF • 2005041257400100 85 AS OF 04712/05 TO 01. PREVIOUS BUY C m 05112/06 04)07)05 SOLD FNIM-30YRERIMOGTO SETT. DUE 05431/2015 05.500% 05/05 5A823$9 -40.000.000 100.25781 40.103.125.00 z 05/12/05 05.0605 SOlD 0987021011332 REF 0 2005040757210003 BS FEU. HOME LOAN MTG CCIP•S10110 312821(.1 -18.315.152 20.43750 3.753.500.73 SERIES 228 CLASS 11 ACCR. M. DUE 02/01/2035 06.000% 33.670.55 0987027414332 REF • 2006050657430000 BS r MOM 05112/05 SOLD ACCRUES ON 1ST. PAYS ON 25TH UNITED STATES 1REASUFtY NOTE DUE 043012007 03.625% AO 30 912128058 -10.000= 99.96313 9.995.312.50 0988016192099 ACCR. MT. 12.805.71 YELD 3.049 % TO MATURITY OVER REF • 01325905 Al 05/13436 0912M SOLD UNI1ED STATES TREASURY NOTE 912828056 -15000.000 99.95313 14.992.968.75 DUE 04/3012007 03,62S% AO 30 ACCR. M. 0988000592099 19.208.58 EEITS£00- 019- ANGS YIELD 3.649% TO MATURITY OVER REF # G1325601 Al 027 01001/0600103 001 me I8 IJ 0.2 00 0.2 EFTA01260438 CLEARED THROE*. R9 PAOLO' OWED SUSSOMaY OFFICE SERVICING YOUR ACCOUNT Se r. Stan S.— Oxp. Best. Steams & Co. Inc. BEAR 383 Marasco Any 10179 Ory 1/elete2. Crew Nem *eddy% My 23It 11201.3939 STEARNS FINANCIAL TRUST CO INC 11 co at STAT23,O.1 PT.1)00 Apt 30 2005 THROUGH Mry 31.2005 Transaction Detail (continued) ACCPX141 SWINK IL= TAXPAYER ROMER INVESTMENT ACTIVITY (ccaUnueti) LAST stArrucser ANII 29.2095 WITOADIT mai ant DATE TRAJCSACOON OLSCRPTION SYLISOLCUSP OUANIITY POLE COVIMIC4011 OM MOW 05/13/05 05/12/05 SOLD UNTIED STATES TREASURY MOTE 912828056 .20.000.000 99.94531 19.989.062.50 DUE 04/30/2007 03.625% AO 30 ACCR. INT. 25.611.41 0988200293099 YEW 3.654% TO MATURITY 0 05/13/06 JOURNM. GVER REF 101325547 Al FEDI. HOME LOAN MTG CORP•S10110 SERBS 228 13ASS 10 3128211:411 .2 6.000 DUE 02/01/35 -n AD/ P05 05,16/06 0:413105 SOLD UNITED STATES TREASURY NOTE 9128210M9 .40.000.000 98.57031 3%428.125.00 DUE 02/15/2015 04000% FA 15 A . M. 397.79006 0988280293099 C YIELD 4.179 % TO IMTURITY OVER REF *G1333411 Al in OWINGS OW 3/05 SOUGHT UNITED STATES TREASURY NOTE DUEOS/15/201S 04.125% LIN TS 0988280293099 912629099 40.000.000 AMR. M. 99.73047 39.892.187.50 4.483.70 YIELD 4,158 %TO WN MR REF 0 01333415 AT 05/1695 JOURNAL KIX HOME LOAN MTG COW/510110 31282301M -1 SERIES 228 CLASS Co 6.000 DUE 02A31/15 ADJ POSITION r 0511710$ 05/12/05 BOUGH FANNIE MAE CMO/SER1ES 203342 KS-10 FUR DUE 07/25/2017 04.C431" 313930538 17.728.728 ACCR. MT. 8.03125 1,423,838.51 44.203.63 0987022118332 REF 0 2005051257280000 BS 0517406 osnMS BOUGHT COREMAIEM NATIONAL MYR ASSN 3837416T6 24.954.730 7.28125 1,817,016.29 SUMS 2004.30 CLASS SU 78.794.56 DUE 02/202032 04010% 0987372711132 PEITS£00- 019- ANGS REF 12005051257300300 BS AS OF 05/12/05 031 C40u0SAR03 001 van I8 IJ P.) 00 00 P.) EFTA01260439 O.LAALO TrOC/Xam varOu? OntO) SueSOAPY OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. Lam. Son Starter Co B&\R 383 MackSon Avenue New York. New York 10179 Om /ammo Carter OM &collo New ton 11/014859 STUURNS FINANCIAL TRUST CO INC 12 STATELIOrt POMO AMI 30.2005 offiCoOt May 31.2005 Transaction Detail (continued) ALCOA? mat" '.WAVER MAMA On FIB INVESTMENT ACTIVITY (cOrninuec) LAP STATEmtr? Apl 29.2005 SETIVOIT LODE OAR OAR TPAYSICTEN ccscsarrtcw STOSCUCUS. Ouuirtne ewCL Men W0U10 CREW Want OSP 8/05 05/13105 BOUGHT FRECOIE ANC 0.10/SERES 2886 31394,288 6.743.867 8.50000 743228.73 SC-10 FLTR DUE 07/15/2019 04.346% 3.06744 0987018017332 REF • 2005051357130000 6$ O 05/18605 JOURNAL Mt NOME LOAN MEG CCEP.S10110 31282YDP1 1 SERIES 228 CLASS CI 6.000 ClIE 02/01/35 m 05/20105 05/19/05 SOW UNITED STATES TRW:a IRY NOTE CUE 04/30/200703.625% AO 30 0988016192099 YEW 3595 %TO MATURRY 912826056 -13.000.000 100.05469 ACM INT, 13.007.10941 26,611,41 GVER REF • 61393740 Al ci m 052005 05/19/05 SOLD UNITED STATES TREASURY NOTE DUE 05/1542015 04.125% MA 15 0988280293099 YIELD 4088 %TO MATURITY 912828099 .10.000.000 100.29688 ACCR. INT. 10.029.68740 5.60442 GM REF • G1393587 Al H 062006 PRINCIPAL CAVEMEN! NATIC•44L MTG ASSN RES 2C04-035 CLASS SP 38374GP15 -147.420 4 SE 10 DUE 12/20/29 PRINCIPAL REDUCER 05-20.05 r 06/20105 PRINCIPAL GOvERNmENt MAIM% WIG ASSOC SERIES 2004.041 CLASS SE DUE 05/2000 383746Y55 .133.032 PRNCPAL REGRET/1 05-2005 05/23/05 092006 BOUGHT URGED STATES TREASURY NOTE 912821056 50.000.000 89.97656 49.098281.25 CUE 04/30/2007 03625% AO 30 0988778197972 ACCR. M. 113.281.25 YIELD 3.637 % TO MATURITY GVER REF a 61404847 AS AS OF 05/2005 SETTS£00- 019- ANGS 05/23/05 05/20/05 SOLD UNITED STATES TREASURY NOTE 912828068 99.96094 DUE 04/30/2007 03.625% AO 30 19.992.187 .50 0988027496099 ACCR. M. 45.312.50 YIELD 3.645 % TO MARIRITY GM REF • G1403009 Al OY? COOTAMLO):03 ml VIM rrl 8 IJ IJ 00 00 IJ --J EFTA01260440 CLIARED TIMOUCIal ITS %SICILY OiNILD SIJSSCr•Jr• ONCE SERVICNG YOUR ACCOUNT Bac &an Slane) COM Bear. Steams a Co. Inc. 91MOVIIICh On Ray, BEAR 383 Madison Avenue New York Nev York 10179 Seder Net Tot 112014S0 STERNS FINANCIAL TRUST CO INC 13 ex STATEvert PERICO Aptil 30. 2006 nfe0/31.1 May 31. 2005 Transaction Detail (continued) ACCouo maw, Mann.% nuweER On Etc LAST niticEvT Apl 29.2005 INVESTMENT ACTIVITY (continued) Minna( Mee Dirt DATE IMUISAC11011 otscepror SYPSOLCUS• DUAIDITE ',WE DEW NAOMI CMDIE MOW 0520.05 05123105 SOLD UNITED STATES TREASURY NOTE 912828055 43.003.000 100.03125 13034.062 .50 DUE 04/30/2007 03.625% AO 30 ACC*. INT. 30.733.70 0988016192099 TEED 3.607 %TO MATURITY OVER REF 0 G1434596 Al 05/2406 06/23.05 SOLD UNITED STATES TREASURE NOTE 912828099 .10.0000M 100.58203 10.058.203.13 DUE 05/152015 04.125% MN 15 ACCR. NT. 10.088.31 0988035598099 -n 05/2305 05/24105 BOUGHT YIELD 4.053 %TO MATURITY OVER REF • G1434406 Al UNITED STATES TREASURY NOTE 912828EN9 3.000.000 100.89063 3.026.718.75 DUE 05/15/2016 04.125% TAN 15 ACCR. NT. 3.362.77 C 0988016192099 in YIELD 4.016 %10 MATURITY GVER REF•• G1443571 Al 0912505 PRINCIPAL FEDERAL NATEcul MTG ASSN 3136FAWES 296.514.03 SERIFS 329 PASS PO DUE 0161,31 STRP PRIN WO 04-06 DO 05.21.05 REPO P 6 I 0.0000 052505 PRRICIPAL FEDERAL NA110/69. MEG ASSN 3136FAWBS 306.030.26 SERIES 329 CLASS PO r DUE 01/01/33 SIPS PRIN RA) 0445 P/005-25-05 REPO P a I 0.0000 05025/06 PARICIPAL FEDERAL NATIONAL LUG ASSN 313930206 -250.651 SERES 2003-49 CLASS SW 3.980 DUE 01/25733 PRINCIPAL REDUCT74 054505 05/25.05 PRIBCPM. FEDERAL NATIONAL MTG ASSN 313440803 13.797.64 9EITS£00- 019- ANGS SERIES 346 CLASS 1 WE 11/01133 PRN WO 04.05 P005.2505 REPO P BI 00000 Ott 06101X601,03 401 '919 I S IJ OD DO EFTA01260441 O-w40 TAIRCV0M rte ArACAW OATCO SURSOWRY OFFICE SERVICING YOUR ACCOUNT Sea. Stews StanTet BEAR Bear, Steams & Co. Inc. 193 Ma&An Avenue Ow %WAWA Cern Nenh EV:AOTA Yteg 11201-33Sn STEARNS New York. New Yak 10179 FINANCIAL TRUST CO INC 14 el >I STATEPANT PERIOD April 30.2005 THROVON Amy 31. 2005 Transaction Detail (CODAITU94) ACCOUTT %W0W TA-WAVER WARDER O He INVESTMENT ACTIVITY (centivalc0 LAST STATENEW API 29.2005 REERDAPIT IRACE OAR OAR OWIRACTOM of SvINCULeat aummtv PRICE Cal AMOUR/ on MOM 05125/05 PRINCIPAL FEDERAL NATIONµ MTG ASSN 31300109 SUES 346 CLASS 1 137,824.76 DUE 11/01/33 PRIV R/004-05 PM 0645.06 0 05/25/05 PRAWN. REPO P 6I 0.0000 MURAL NATIONAL MTG ASSN SERIES 352 CLASS 1 0.001 DUE 07/01/34 3136FIRC9 34%726.81 -n PRIN R/D 04-05 RD 0545-05 REPO It 4 I 0.0000 06/27/06 0516105 BOUGHT mu, STATES TREASURY NOTE 912829056 11,003.000 99.99609 10.999.570.31 DUE 04/3012007 03.625% AO 30 0988018192099 ACM M. 29,256.12 TAD 3.626 % TO MIURA( rn 05/27/05 05/26/05 BOUGHT GVER REF 101464298 81 uNITED STATES TREASURY NOTE DUE 04/326007 03.625% AD 30 912828066 50.000.000 ACCR, M. 99.99609 49,998,046.88 0988016192099 132,982.33 NEED 3,626 %TO MATURITY GVER REF /61484298 Al 05/2705 05/2605 BOUGHT UNITED STATES TREASURY NOTE 912828099 15.000000 100.37100 15.055664.08 DUE 05/15/2015 04.125% MN 15 0988018192099 AMR. M. 20.178.63 r 05/2705 11ELD 4,079 %TO MATURITY GVER REF .1 G1484843 Al fICERAL NATIONAL /MG ASSN 3138FCBC9 1 SERIES 346 CUSS DUE 11/01/33 1 ADJUST POSITION 05/2705 JOURNAL FEDERAL NATIONAL WO ASSN 3136FC9C9 SERIES 348 CLASS 1 DUE 11.01/33 LEITS£00- 019- ANGS 06/27/05 JOURNAL Mx NOME LOAN FAG CORFw510109 3128210N6 SIRES 227 CUSS ID 5.000 01.E 12/01/34 ADJUST POSITION 027 0•011041101 COI VIM I8 IJ V.) Do Oo V.) EFTA01260442 CLUMP TaltOuCal ITS 9040LLY O* ED DJSSCoar OrriCE SERVICING YOUR ACCOUNT Ott Stern Searles Cap. Bear. Steams 8, Co. Inc. One Menace. Cols Math BEAR 383 Madison Avenue k 10179 Wee Yon 11201,3859 STEARNS FINANCIAL TRUST CO INC 15 a6/ Stit00 AO 30.2005 THROVOm May 31. 2005 Transaction Detail (continued) ACCOLan mumitt Taximns Want On le LAST STAMMXT AO 29. 2005 INVESTMENT ACTIVITY (continued) SETIUMMT MOE DfBO MIOUM1 MR mon DATE 0812 TWIS4C000 OESCRITOM 511480U0151P OLIAMilY PrdCt 05127/05 JOURNAL FEU 11011E LOAN NIG MR9,510110 3128210P1 1 SERIES 228 CLASS ID 6,000 DUE 02/131/35 ADJUST POSEION 06/31/06 05/25.105 BOUGHT UNITED STATES TREASURY NOTE 9129280W7 36.000.030 99.74219 35.907.187.50 DUE 05/31/2007 03.500% MN 31 0988726998099 VIEW _3s615 % TO immenY -n 0931/05 05/26/05 SOW OVER REF 0 61484831 Al MIRED STATES TREASURY NOTE DUE 05131/2007 03.500% AN 31 9128280w7 .15.000.000 99.74219 14.951.325.13 C 0985015192009 YIELD 3, 5 % TO rn 05/31/05 05/27/05 SOW GVER REF6•3 41464297 811m UNTIED STATES 1REASURY NOTE CUE 05/31M00UCT7 .500% MN 31 912$280W7 .25.000.000 99.71076 24.929.687 .50 SPECIAL NSTR 03IONS HELD 647 II TO MATUF3TY OVER FLU 0 G1472531 A3 T/PREE1 AS OF 053,/27/05 OSMIA:15 05/76505 SOLD UNITED STATES TREASURY NOTE 9128280W? -50.030.000 99.74219 49%71.093.75 DUE 05/31/2007 03.500% MN 31 0988016192099 r YEW 3.633 % TO MATURRY GVER REF a G1464297 Al B199.06.1266? Unimena TOTAL SEITS£00-019-ANGS 02T 08101.15,3003 001 En I8 IJ INJ 00 4.4 O EFTA01260443 CLUJ= TurtOven ITS OFFICE SERVICING YOUR ACCOUNT voiCare Overte. SassOKAY BEAR Bear. &earns & CO. Ina. 383 Madison Avenue MN. Sown Snags Ca? Dw Patentem Gent KWh STERNS New Yak. New Y04 10179 099:99 Ike on 20 3 59 FINANCIAL TRUST CO INC STATIWhI PERKO NA 30. 2COS THROWN May 31. 2005 Transaction Detail (continued) DEPOSITS AND WITHDRAWALS Tonne"' POWER 4Sr STATINenn Apnl 29. 2005 Dan ritinamnar mane earn AMOUVT CRUM AvOLNI 05/2905 ENO MOM LOA/ GVI88194 RIDS WIRED TO P. 505.0D FLEET NATEMIAL BMX ACS421211544 C#264533 TOTAL 0 INTEREST 0 m OAR 05102105 01301PTEAt AVG BAL 244.990 RT 1.906 311490112192 WAMTITY MR nu 3121T me0-tvt CRUM .A.3097 021 0010E MEREST 0405 389.51 ci m 0916/05 FEDL NOME LOAN MTG CORP/510109 SERIES 227 CLASS 03 CUE 12A)1/2034 5.000 RN R/D 04-05 P/D 05-1545 31262'046 5.0000 6.066.95 REPO P & I 5.0000 H 05/16/05 FELL /CUE LOAN PEG CORPRS10100 SERFS 227 CLASS 312$2Y0116 5.0000 10,111.56 WE 12/01/2034 5. UT RID 04-05 R/D05.15- 0005 REPO P 6I 5.0000 r 0511605 FEU HOME LONI WS 02*P•S10109 SERIES 227 CLASS D DUE 12401/2014 31252YON6 50000 10.111.59 5.00D INT R/0 04-05 PE. 05-15-05 REPO P 6I 5.0000 05/15105 FEDI. MORE LEAN ISM CORP/S10109 51282W146 5,0000 SERIES 227 CLASS 20223.15 DUE 12411/2034 5.000 RR WO 04-05 IND 05-15-05 6£TTS£00 IND ANDS REPO P I 5,0000 027 osincetate 001 1446 I iiliZOO-V.LAH EFTA01260444 =ARID natOuGH rra "MOLLY &4WD SuBSOW11 OFFICE SERVICING YOUR ACCOUNT Bev San Soculta Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison kivnue Neite n t i litrk 10179 One *gown War North looaktp. Now Y.. 11201.34.10 STEARNS FINANCIAL TRUST CO INC Surest.. fiero03 April 30.2005 n/Novai. May 31.2005 Transaction Detail (continued) ACCOuNT WINER 11.101AYER WINO INTEREST (cortInu/ND LAST STATVADIT AO 29.2005 smarm SYM30/CUSS, 01.19001TY RAT1 00 00111MIC4,0 CREDO ACM 0511635 FIR HOME LOAN LOG COPPAS10109 3126211E/6 5.0000 34.379.36 C) SERIES 227 CLASS ID DUE 12/01/2034 LOCO INT R/D 04-05 AO 0545-05 0 05/16/05 REPO P I 5.0000 FEDL HOAE LOIN ISM CORPAS10110 SUES 228 CUSS 31282YDP1 60030 14,129.41 DUE 020112035 6.000 -n 05/16105 INT R004-05 P/D 05-15-05 REPO P 6I 6.0000 RDA HOME LOAN WIG CORPOS10110 3128270.1 6.0000 32.968.62 SERES 226 CLASS 0 C CUE 02/01/2035 6.000 INT ED 04-05 ND 05-1005 rn 05/1605 REPO P & I SACCO FEU 106E LOW IATGO3RPOS10110 SUES 228 CUSS ICI 31292YDP1 6.0000 41.098.03 DUE 02/01/2035 6.000 INTEREST PAYMENT 0545.05 05/16A)5 FID1 NOME LOAN MI6 CORP•S10110 31282TDP1 6.00:0 94.196.06 SERIES 228 CUSS 10 DUE 02/01/2015 6.000 INT R004-05 PM OSA 5.06 r 05/20)05 REPO P 6I 6.0000 GOVERNMENT RADON& NIG ASSN 38374/6417 3.12603 56.060.00 SERIES 2004-S CLASS PS DUE 02/20/2033 3.960 PIT WD 04-05 PA) 05-20-05 REPO P 6I 3.9600 092005 GOVERNMENT NATIONAL 116 ASSN 383741067 1.9600 87.120.00 SERES 2004-5 CLASS PS DUE 02/202033 3.960 OPITS£00- 019- ANGS INT R004-05 P/D 05-20-0S REPO Pt 1 3.9600 027 0401/15:0403 AM rn 4 8 IJ IJ so 00 7.7 EFTA01260445 CUMED THNOm. ~Ru Onme0 sUNRCEARE OFFICE SERVICMG YOUR ACCCUNT Beat, Steams & Co. Inc. B« RU« SeRrots Ø. BEAR 383 Maclison Avenue Cne MeuebicE Germ Nørt" 11101.3350 STEARNS New York. Now York 10179 leill[UST CO INC 18 mus STAMMET ;MOR Apl 30.2005 Twiox.el Mak 31.2005 Transaction Detail (continued) •CCOLert ~RER TERMS NEMMA INTEREST (contInued) urt ruten Arkl 29.2005 Urt CCsoarnov SYMOCUSIN aure Mit CR) OCM EMMI CMOR now 05/2005 GOVERNMENT NATIONM. MIG ASSN 383741818 4.2100 87.549.51 SERIES 200410 CLASS SU ME 02120/2032 4.210 INT WO 04-05 P/D 05-20436 REPO P & I 4.2100 0 05/2C:05 GOVERNMENT ~NN. MIG AS5/4 SERIES 2004-035 CLASS SP 38374GP15 4.2100 52.962.53 DUE 12/2(82029 4.210 INTEREST PAYMENT 05-2605 1 1 05420/05 GOVERNMENT NATIONAL MIG ASSOC 363746855 «ES 2004.041 PISS SE 52,883.89 ODE 05420/2030 0.000 INTEREST PAYMENT 05-20435 05/25/05 FANNIE LUE (5.10/SERIES 2CO3-13 313921018 49870 5 RCEVO FUR 53,471.96 OVE 03/292013 4.980 INT RIT) 04-05Vm 05-254)5 REPO P 6I 4.9800 05425106 FAMIE MAE MYSE/te 2003-13 313921DE2 4.9800 53.471.95 5 «40 Mfl DUE 03/25/2033 4.980 INT WD 04-05 PR) 05-25-05 REPO P& I 4,9900 r 05/25/05 FEDERAL NATIONAL MIG ASS/4 SERIES 200349 CLASS SW DUE 01(25/2033 3.980 313930208 3.9600 43.052.64 NTEREST PAYMEN1 05-25-05 05/25439 FANWE Mk( CMYSERIES 200342 313930538 4.0« 60.277.88 ICS410 FUR DUE 07/252017 4.000 INT Ibl) 04-05 P/D 05-25-05 REPO P& I 4.0800 IPITS£00- IA19- ANGS 0101.9mW03 CO1 vin rn I 8 IJ IEJ 70 EFTA01260446 CLEARED YRROUG. ITS %seSay Owlet SURSCalre OFFICE SERVICING YOUR ACCOUNT Sas Simms Swan Con Bear, Steams & Co. Mc. Ons Viamich Cala Man BEAR 383 Madison AVeRlUe ?km York, New Yolk 10179 ETTOTT. Nal OS 20 AM STEARNS FINANCIAL TRUST CO INC 19 3! STARNES,' RE*100 101 30. 2005 THROUGH Wry 31. 2005 Transaction Detail (continued) AOSOURT PAMIR rawAYCR MAC On Fl. INTEREST (confirmed) LAST STATISMia Api 29.2005 GEE orsemmtal swim/muse slummy MR em Dom moum CUN mope 05/2905 FEDERAL NATO'S./ NIG ASSN 3136FCLD6 5.0000 78,180.13 SERIES 353 CLASS 2 CUE 07/01/2034 5.000 INT T413 04-05 ND 05.25.05 O TOTAL RBs0 P a I 5.0000 11196.734.55 -n REPURCHASE AND REVERSE REPURCHASETRANSACT1ONS with Bear, Steams& Co.inc. C SETROADO 0All TRAM RTE ITINSSCISSI OCICRIPTON SemiOu0.9. mom. our AVCIAT CREW MOM rn MOMS RECEIVED WITCO STATES TREASURY NOTE DUE 04/30/2007 3.625 DUE 0413007 3.625 in MODES 50.000.000 50.125.000.00 RIM F1220622 Al RESALE AGREEMENT 05103/05 EURNAL FEDL HOME LOAN LOG CORPO10109 31282YDNEI 1.456.066 SERIES 227 CLASS 01 5.000 CUE 12/01/3A FMA F1153282 A2 r TERM REPO AGREEMENT 05/03.05 JOURNAL FEM. HOME Lao PEG CCROS10109 31282YDN6 4458.086 312,000.03 SOLES 227 CLASS q 5.000 DUE 12)01134 MA F1233167 Al REPO AGREEMENT 05101/05 JOURNµ FEM. HOME LOAM LITG CORP4S10110 3128219P1 6.593.724 SERIES 228 CLASS TO 6.000 CUE 02/01/35 ZPITS£00- 019- ANGS MA F1123245 A2 TERM REPO AGREEMENT 06/03/06 JOURNAL FEDI. HOME LOAN mTG ECRP4S10110 312132YETP1 -2.354.901 SERIES 228 CUSS ID 6000 DUE 02/01/35 FTTM F1233173 Al REPO AGREEMENT an ownicesne col nIl 4 8 IJ IJ DO .9- EFTA01260447 0.LAReb THROuOm n 0.43-4Y ØD SuDSOMY INTICE %AVRING YOUR ACCOUNI War, Stearin 8 CO. Inc. B/ar. Surs Senna CaD. BUIR 383 Magson Ment ore Voseeich fait. ?dann Bod0r. lång ven 11201.3149 STUkRNS A 10179 FINANCIAL TRUST CO INC 20 as EITAIlsta PERM Arefi 30.2035 rsitoucar mrs 31. 2005 Transaction Detail (CoriElnued) PCCOUNT nute~ TOYAvel. Huu«. On Ek REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (ccotinuod) sTATEirtuT Apl 29.2005 SEITIllea TRADE DATE DATE DWISACE01 DESCRIPIICM SYSSCUCUSP Cupen DOW ~SR ER« H.1000 05/03/05 JOLIRNAL FIDL HOME LOAS MTG CORPAS10110 31282YDP1 .4.239.822 747.000.00 SERIES 228 CLASS PO 8.000 DUE 010165 nrm E1233169 Al REDO AGREEMENT 0 05/04405 JOURNAL FEDERAL NATO«. MTG ASSN SERIES 346 CLASS I 3138FCEIC9 860.862 473.000.00 Z T OLA: 11/01,33 FRIA F0943341 AZ TERM REDO AGREEMENT L I 0904/06 JOURNAL FEDERAL NANO« MIG ASSN 31388209 480462 4 79.000.00 SERIES 346 GLASS 1 WE 11/01/33 MIM F1243221 Al m 05/04/05 INTERF-51 REDO AGREEMENT MURAL UTMAL MTG AM MILES 346 CLASS 1 3133FC9C9 1.214.03 WE 11/01/2033 0.000 FITTA F0943341 A2 REPO INTEREST 05/0805 »ANAL FEM HCME LOM/ MTGCORP•510110 3128270El 2.295.719 SERIES 228 CLASS ID 8000 ME 02/01/35 FM F1233173 A2 r ... 0909/05 JOURNAL TERM REPO AGREEMENT FEW HOME LOAR ARG CORPOS10110 3128220P1 -2.295.719 ... San 228 CIASS Kl 423.003.90 8.000 DUE 020145 MA F1293118 Al REPO AGREELIENT 060905 JOURNAL UNITED STAT/S TREASURY ROTE 912828a19 40,000.000 FIN 35,400.CC0.00 F1290645 Al EPITS£00-019-ANGS 4.000 DUE 02/15/15 REDO AGRUMENT 06.99106 JOURTML UNITED STATTS TREASURY NOTE 9128280149 60.000.000 59.400.000.00 Frrm F1190851 A2 4.000 WE 02/15/15 TEAM REDO AGREEMENT On Ceolimunia Ø von EFTA01260448 GEARED THROUGH ITS ~Our awe ~Star OFFICE SERVICING YOUR ACCOUNT Bat Stenå Sooålhis Cap. Bear. Steams ,1 Co. Inc. One Miretta Ovar Pin BEAR 383 MadSal Avenue New York New Yak 10179 limey% Mew Yot 112014639 STWRNS FINANCIAL TRUST CO INC 21 ten sirwzr.7 on= Aril 30. 2005 May 31. 2005 Transaction Detail (continued) ACorxiirt µARK Ympkvin rumed On FIR REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) van errrnerr ApI 29. 2005 5/111.131011 MD( DATE TIVJGACTON cacwrica SYMICUOZIP OUAMITv DWI WWII CREW MOUlgt 05/09105 RECEIVED want STATES TREASURY NOTE 912828056 20.000.000 20.600.060.00 CUE 04130/2007 3.625 3,625 DUE 0440107 F1TM 11290627 Al 0 05999109 DELIVERED RESALE AGRFruna WIED STATES TREASURY NOTE DUE 04/3012007 3.825 912828056 -50.030.080 54125.000.00 3,825 DUE 04,3007 -n 0909105 INTEREST ITEM 11220622 A2 TERM RESALE AGREDAENT UNITED STATES TREASURY NOTE 9128280119 41.355.50 O11EO2115Ø15 4.000 ATM F119O951 A2 REPO INTEREST rn O51O9A75 INTEREST UNITED STATES TREASURY NOTE DUE 04/3012(07 nT1.4 11220622 A2 3.625 912829605 26.594.10 RESALE MEREST 05/11/05 JOURNAL. FEDERAL RATON. MT ASSN 31313/AWES 15.052.892 10.381.000.00 SERIES 329 CLASS PO DUE 01/01/33 STPJP FIN 11013193 A2 r 06/11/06 JOURNAL TERM REPO AGREEMENT FEDERAL NATIONAL MG ASSN 31386tikt6 -15.082.892 10.851.000.00 SERIES 329 CLASS P0 DUE 01/01/33 STRIP rrnA /1113180 01 REPO AGREEMENT 05/11/05 JOURNAL MON. NATION& MM ASSN 3114$FO8O) &463.537 4.553.000.00 SERIES 346 CUSS 1 P4ITS£00- IA19- ANGS DUE 11/01133 ETA 11013195 Al TERM REPO AGREEMENT 011,01.95,1»03 001 VBM 8 b.) IJ 00 a, EFTA01260449 man. natOuOm ITS vats,' Ovvitta SUOSakaity OFFICE SERVICING YOUR ACCOUNT Boar. Steams 8 Co. Inc. Bea. Steam Stank, Co BEAR 383 Madison Avenue 1Attnnan c_ Mali arCOOpt New Ywt 11201.1859 STEARNS New York. New York 10179 FINANCIAL TRUST CO INC 22 a, w STATFAttarz atA0D 401 30.2005 lanCtc11 May 31. 2006 Transaction Detail (continued) ACCOLan %mean TaAPAYEA m.A.CR On 444 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) :An STATEuPIT Apl 29.2035 SITIUMMT MAN CAM DAM 01/841.01311 CASCRIFIkae SYMOOMOAIP CUM0111, OHM AVOW Mon Am3ort 05/11/05 JOURNAL FEDERAL NATIONAL MTG ASSN 31364C803 4.463.537 4,666,000.00 C) SERIES 346 CLASS 1 CUE 11/01/33 Fln.1 F1313180 Cl 0 05111/05 JOURNAL REPO AGREDADIT FEDL NOW LOAM MTG CORPeS10109 SERIES 227 CLASS 10 5000 DUE 12/01/34 31282YON6 1.445.460 312,000.00 Firm F1233167 A2 TERM RE® AGREEMENT m 05/11/05 JOURNAL KM NOME LOAN MTG CCOPOS10109 31282YDN6 2.409.100 534000.00 SERIES 227 CLASS 10 C 5.020 DUE 12/01/34 F111.4 F1153280 AZ rn 05/11/06 JOURNAL TERM REPO AGREEMENT FEDI. WA( LOAN MEG CORNPS10109 SERIES 227 CLASS 0 3128210446 4.818.200 1,143,000.00 $ CUE 12/01/34 EOM F1013199 AZ TERI, REPO AGREEMENT 05/1105 JOURNAL FEEL HOME WAN WIG CORPOS10109 31282YDN8 -8.672.780 1.887003.00 SERIES 227 CUSS 10 SACO DUE 1201/34 FRM F1313180 81 r 05/11,05 JOURNAL REPO AGREEMENT AUX NOME LOAN MEG ILORP8S10110 312820P1 4.636.575 333.000.00 SERIES 228 CLASS 13 6.000 WE 02A)1/35 MIA F1313199 Al REPO AGREEMENT 05/11/06 XURNAL FEDL NOME LOAM MEG COW/510110 31282Y13410 -2.295.719 415.000.00 SERIES 228 CLASS 10 SPITSEOCIND- ANGS 6.000 DUE 02/01/35 FILM F1313180 Al REPO AGREEMENT 027 awour4a40 001 YIPS I8 1.4 1.2 00 00 1.4 --.1 EFTA01260450 CLEARED n*0UCH RS MOAN CrAY/PD SISSICORY OFFICE SERVICING TOUR ACCOUNT Bear. Stearns & Co. Inc. Bar Sturm Seaton An BEAR 383 Madison Avenue Cut Aletniteth Amor Poi, Ilitorilin Sew York 112014AS STEARNS New York. New Yak 10179 T CO INC 23 ate sueimor moon Awl 30. 2035 THROUOil May 31.2005 Transaction Detail (continued) ACOCIAll SWAM TAXPAYER PLAYA REPURCHASE AND REVERSE REPURCHASETRANSACTIONS (continued) LAST STATEMENT April 29.2006 SETTLEMOIT nate GM! DATE tRANSACIVI eliSCPientei enteCUCUSe Went SCSI mewl CREW maga OEM 1/05 JOURNAL FED. HOME LOAN MEG CORP4510110 31282Y0P1 2.295.719 423,000.00 SERFS 228 MASS 10 6,000 DUE02/01/35 rnm F1293178 AZ O 05/11/05 M.ReUf TERM REPO AGREDAINT FEDErw. NADDNAL MI6 ASSN SERIES 329 CUSS PO 3136FANE8 27.803.99 STRIP -n DUE 0110112033 0.000 RIM F1013193 AZ REPO INTEREST 05/1105 MEREST FEDERAL NAnONAL MTG ASSN 313810809 11.875,74 C SERIES 346 CLASS 1 DUE 11/01/2013 0.000 in 0511106 MEREST Find F1013195 AZ REPO INTEREST FEDI. 11010E LOAN IfTGCORP•510109 3128210116 228.11 SERIES 227 CUSS C DUE 12/01/2034 5.000 NEM F1233167 A.2 REPO INTEREST 06111106 MEREST FEct Tea LOAN ROG CORN/510109 31282)9116 1.222.00 SERIES 227 CLASS 10 r DUE 12/01/2034 FRU F1153280 AZ REPO MEREST 5.000 05/11/05 INTEREST EEC( 110101E LOAN MG CORP4,510100 3128210516 2981.32 SERIES 227 CLASS /0 DUE 12/01=04 5.000 FinA F10131 AZ REPO runt 06/11/06 INTEREST MX HOME LOAN AUG OCOP41$10110 3128210P1 77.31 9PITSEOCIA19- ANGS SEWS 226 CUSS 10 DUE02/01/2036 6.000 MIA F1293178 AZ REPO MEREST 027 otiouts011.3 001 6616 En I8 IJ IJ 00 1.0 0 EFTA01260451 CLMW nie0u0m ITS 'MOLLY mut, Suedeuver OFFICE SERVICING YOUR ACCOUNT Bear. Steams IS Co. Inc. M&. Viers Stones Cup. BUR 383 Madison Avenue Nee Yak, New Yak 10179 0-4 %Muted. Cow 1.4eP Prootbn Lea Vol 11201.3859 ST&RNS FINANCIAL TRUST CO INC 24 SlAithen KRICO Ap'l 30. 2005 rocitouem Mal 31. 2005 Transaction Detail (continued) TAXPAVVI raintit 01F00 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) oar waren AO 29. 2005 SETILDADO IRAK WA OAR IPMSK0311 DISCRPTION SlIMOUOJSIP Warne OFNI AVOLM eSIDIt IMOUI0 054205 JOURNAL FEN. Name LOAN MG 02.100510110 3128270P1 18,365.752 3.665000.00 SEPALS 228 CLASS ID 6.000 DUE 0201135 F111.4 F1053431 82 0 0542/05 MEREST TERM READ AGREEMENT FEDL NOME LOAN mit CORpsSun to SERFS 228 CLASS ID 3128211En 8241.03 WE 02/01/2035 6.000 m 06/1106 JOURNAL FRIA F105343182 REPO INTEREST FEDL NNE Law FOG CORNrsioi10 3128211391 4114287 162.000,00 SERFS 228 CLASS 0 ci 6.000 Dui 02/0145 FM F1333181 Al m 0643/05 OEUYERED REPO AGREEMENT UNITED SUMS TREASURY NOTE DUE 04/30/2007 3.625 912828DS6 -20400.003 4144 20,000,030.00 3.625 DUE 04/3007 Film $1240527 A2 H TEM RESALE AGREEMENT 0543/06 RECEIVED uNITED STATES TREASURY 107E 912828056 65.000.000 65.182.500.00 DUE 61/30/20:4 3.625 3.625 DUE r JOURNAL Film F1330549 Al RESALE AGRFriall MX NOME LIMN WC coRmS10109 3126220/16 -2.409,100 516.000.00 SERIES 227 CUSS 10 5,000 DUE 12C1/34 HIM F7333138 Al REPO AGREEMENT 0511105 JOURNAL FECt Nom LOAN miL ccaPAS10103 SIMEON. 2.409.100 556.000.00 SERIES 227 CLASS 0 LVITS£00 IND ANDS 5,000 DUE 120144 FIN F1033272 AZ TERM REPO AGREEMENT OY/ 011101.105331:03 POI Yin 6EnZZOO- Vin EFTA01260452 CURIO 1),ROat a VAOAY 011441D Suitscav OFFICE SERVICING YOUR ACCOUNT Bev. sans Waren Ca Bear. Steams & Co. Inc. One Mara Caw Pia BEAR 383 Atackson Avenue New York. New York 10179 ii. r 112014959 STEARNS ST CO INC 25 wM STATEMENT real) Aprl 30. 2005 nwouoN may 31.2005 Transaction Detail (continued) ACCOUki wait ToaAvest ABM On tie Lai STAMEN, A0,1 29.2005 REPURCHASEAND REVERSE REPURCHASETRANSACTIONS (ccuirtueen Ulnae" TRADE OM MOON LRCM 0222221 041E DATE fltia1CROM DISCR0110ii 519•BOCUSIP 05/13105 INTEREST UNTIED STATES TREASURY NOTE 912828056 5.344.44 DUE 04/302007 3.625 HEM 11290627 02 RESALE INTEREST osntioS MEREST FEOL KM( LOAN WIG DGRPK10109 31262YDN6 1.459.50 SERIES 227 CLASS 0 DUE 12/)1/203472 5.000 RIM 11033 AZ -n 0501606 JOURNAL REPO INTEREST2 FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PC 31367/M46 15,544.793 11.174.000.00 C CUE 01/01/33 SIRE. in 05/16/05 Maim 11114 f 1053431 CZ TWA REPO AGREEMENT FEDERAL NATIONAL MEG ASSN 31361AWE6 .15.544.793 11434.0:0.00 DU SERI 329 LASS P0 E ES10 01 1/3C3 STRIP FINA F1363275 El REPO AGREEMENT osnlY05 JOURNAL. FEDERAL NATIONAL TWO ASSN 3136ECITC9 .19.964.443 14,434.0:0.00 r SERIES 352 CUSS 1 0.001 DUE 07;01/34 MU 11363275 01 REPO AGREEMENT osneiO3 JOURN.U. FEDERAL NATIONAL MEG ASSN 3136FCAC9 19,964.443 14,660,000.00 SERIES 352 PASS 1 0.001 DOE 0101/34 DIM 11103171 AZ TERM REPO AGREDAENT 3.844.000.00 SPITS£00- 019- ANGS osnisios JOuteat FEDERAL NATIONAL MTG ASSN 3136KED6 .16.577.270 SERIES 353 CLASS 2 5.000 DUE 07/01/34 nrm F1363275 C1 REPO AGREEMENT 027 0110105,24103 031 VS21 I S IJ 00 O EFTA01260453 twat. naiDUCIAI ITS MOAN, Cfraco tutecrAree OFFICE SERVICING YOUR ACCOUNT Boar. Steams 6 Co. Inc. Sam Seem SWAM*. Cap BEAR 383 Madison Avenue New York New Voir 10179 Cm taigaNi., Caw Ikea tatOlar. rot 11701.3359 STEARNS FINANCIAL TRUST CO INC STATONIn PERIOD Apra 30. 2005 niathiGH May 31. 2305 Transaction Detail (continued) Aceantr MAWR I....0.mPa smarm On EN REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (conbnue4) LAS- STAnYEL7 April 29.2006 311111/4041 111A3t an DAM TRANSAL113iN DESCRO14.1 3114110LOJS. OLWITIrr Dm AINAN1 CM en mow 05/16+05 JOURNAL KORAI NATIONAL LOG ASSN 3136FCLO6 18.577.270 4.211.000 03 (-I SERIES 153 CLASS 2 5.000 DUE 07101/34 RIM F1053431 Al TERM REDO AGREEMENT 0 05/16/05 JOURNAL FEDL HOME LONIIMG CORP/510109 SERIES 227 CLASS 10 5.0:0 DUE 1201(34 31282YDN6 .8,190,940 1.729.000.00 Fnm a F1363275 81 m 06/1405 10U UAL REPO FEDL NOME LOAN MEG CORP4510109 SERIES 227 GASS V 3126270146 0.190,940 1437.000.00 5.000 DUE 12/01/34 ci Fnm F1123242 82 m 05/15.05 JOURNAL TERM REPO AGREEMENT FED. NOME LOAN WC CORP4010110 SERIES 228 CLASS ID 312821DP1 2,754.862 528.000.00 6.000 DUE 02/01/35 nu F1123242 AZ TERM REPO AGREEMENT H 05/16105 JOURNAL am NOME LOAN 1.170 CORP•510110 31282V091 4.132.294 747.000.00 SERES 228 PASS 10 6000 DUE 0501/35 ITTM F1233169 AZ r 0506/05 JOURNAL TERM REPO AGREEMENT FEOL NOME LOAN liTG CORPOS10110 312521091 4.887.157 1.160.000.00 SERIES 228 CLASS 10 6.000 DUE 02901/35 HIM F1363275 Al REPO AGREEMENT 05/16535 JOURNAL UNITED STATES TREASURY NOTE 9128280619 40,000.000 39.406000.00 mm F1290645 A2 617TTS£00 IND ANDS 4.000 DUE 02/15/15 TERM REDO AGPEEIONT 05/18/05 JCIJRNAL UNTIED STATES TREASURY NOTE 91282(01/9 -40.000.0:0 39.900000.00 EWA F1360354 Al 4.125 DUE 0915/15 REPO AGREEMENT 027 06401.060033 901 van ItICZZOOV.Li3 EFTA01260454 CLEARED MADAM ITS vaioLLY OWNED VAILSonv OFFICE SERviez4G YOUR ACCOUNT In. Sins Sinn. Co Beat. Stews 6 Co. Inc. Cno Innen Can WM BEAR 383 Madison Avenue New York New York 10179 teddy% An Tot 11201.3444 STEARNS FINANCIAL TRUST CO INC 27 S as STATEMENT PER= AYE 30, 2035 THROUGH May 31.2005 Transaction Detail (continued) ACCCORT MARIE* ham witacra n REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEW.Nr Aprl 29.2005 unman MADE COLD! AMOWO DATE DATE IRASSCDON DE SCESPOD4 SDADDIJOSSIP Gun DEBIT AVgfT 05,1105 INTEREST FEDERAL NATIONAL MTG ASSN 3136FAWE6 30.598.14 SERIES 329 CLASS PO &RP DUE 01831/2033 0.000 0 0916105 MEREST TM 11053431 02 REPO INTEREST FEDERAL NAMNAL M10 ASSN 313810(09 33,880.89 SERIES 352 CLASS 1 -n DUE 07/01/2034 MIA F1103171 AZ REPO INTEREST 0.001 11.531.12 0511805 INTEREST FEDERAL NATIONAL MG ASSN 3136FC1D6 C SERIES 353 CUSS 2 in DUE 07101/2034 SECO FITM 11053431 AZ REPO MEREST z 05,16/05 INTEREST FIDE NOME LOAN LOG CO994110109 SERIES 227 CLASS 10 DUE 12/0112034 5.000 31282YON6 3.855.67 MM 11123242 82 REPO INTEREST 091646 MEREST PEEN 11041E LOAN MG CORMS10110 312/32YDP1 687.48 SERIES 228 CLASS ID r DUE ETNA F 1/2035 02/01233169 AT REPO MEREST 6.030 05116/05 INTEREST FOX HOME u3AN MG CORPM10110 31282YOPI 1,136.96 SEINES 228 CLASS 10 DUE 02/0112035 6.000 FDA 11123242 AZ REPO INTEREST MEREST UNTIED STATES TREASURY NOTE 912628CM9 18358,78 OSTTS£00- 019- ANGS 05116106 OUE 02/192015 4,030 fITM F1290645 A2 REPO INTEREST ORA)1/05,3602 E01 Mill rn 8 b.) IJ 00 DO 10 1.0 EFTA01260455 WARE° TieSttrai ITS veNCLAY omao MASJOIMIY OFFICE SERVICING YOUR ACCOUNT Bear, StearTIS 6 Co. Inc. Sam San Sommtes Cap. B&\R 363 Maoson Avarua One latetece Career tesen Noyes. Nag Ma 11201.3859 STURNS New York New Y 10179 FINANCIAL TRUST CO INC STATEMENT Pomo April 30.2036 nwouom Meg 31, 2005 Transaction Detail (continued) ACCOUNT MAYEN ?SWAYER W1091 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (tons nuet0 LAST STATEMENT AO 29.2005 strnuorr MALE DATE DATE mAIMACITOR cescawrCei Sniacticral OTUNITIY Can S8 IT MOO AMCVE 0917/06 JOURNAL FANNIE MAE MO/SERIES 2003-62 31393C538 47.724728 1.008.000.00 ES40 4.003 DUE 07/25/17 FITM F1373141 Al REPO AGREEMENT O 05/17105 JOURNAL CENERNMENT NATIONAL LUG ASSN SERIES 2004-30 CLASS SU 38374F6T6 -24.954.730 1.340.000.00 4.210 DUE 02/20/32 REDAENT m HEM F13731 41 Si REPO AG 05117/05 JOURNAL FEOL Now LOW MCORP/310110 31282Y0P1 4.428.013 SERIES 228 CLASS 93 1.113.000.00 6.003 OuE02/01/36 ci HIM F1373162 Al m OS/18/0S JOURNAL REPO AGREEMENT FREDDIE MAC CMOISCPIES 2886 SC-VO FUR 3139512/48 4.743.867 594400.03 4210 DUE 07/15/19 MLA F1383160 At REPO AGREEMENT H 0612005 JOURNAL FANME MAE CMO/SERES 2003.13 3139210K2 26764620 S RCR-VO FUR 4.900 DUE 03/25/33 FITM F0383067 A2 r 092005 JOURNAL TERJA REPO AGREEMENT FANNIE MAE CMYSEMES 2003.13 31392J0K2 .12.664,810 S RCR40 FUR 4480 WE 032933 ETNA F14(33139 Al REPO AGREEMENT JOURNAL FANNIE MAE CMEWSERIES 2003.13 31392a2 -12.1014.810 S Rat-/0 FIER 994000.00 TSITSEOCINDANGS 4.980 WE 03/25/33 EOM F1403141 Al REPO AEREEMENE 027 C4101054003 0/1 vil74 to 4 8 IJ IJ ‘4.7 EFTA01260456 at. THROUGH ITS WHOLLY 'Ate 9u0S0WW OFFICE SERVICING YOUR ACCOUNT —Senn karats Cap. Bear. Stearns 6 Co. Inc. Coe Mebasch Center Kcal BEAR 383 Madsen Avenue New York. New York 10179 Oooktp. law Vert 11201409 9/91211919199 STEARNS FINANCIAL TRUST CO INC 29 ow sTATILaky POW:0 Apra 30.2005 TI4ROUGH May 31.2005 Transaction Detail (continued) Art..0, 0Cr ,0411ER t aaPayER KAMM On On (coninied) LAST STAMEN' Apl 29.2005 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS Wr.010,1 Out( OWanlY Oalt Waal CREW mourn 0.41t 0AI( 11W25.4Z10, 0150.11P:a SYMPWCUSP DELIVERED ARCED STATES TREASURY NOTE 912828056 55.000.000 65.162.500 .00 05/2005 DUE 003012037 3.625 C) 3.625 DU E 04/3007 EOM F1 3X).549 42 TERM RESALE AGREEMENT 0512005 RECENED UNITED STATES TREASURY NOTE 912828056 TELCO:LOW 78292.500 .00 CUE 0420/2007 3.625 3.625 DUE 04/30,07 -n 092005 JCURNAL FILM F1400896 Al RESALE AGREEMENT UNITED STATES TREASURY NOTE 9128280/9 -30030.0:0 29,926.ECO ,00 FITM FiFICC608 Al C 4.125 CUE 052915 REPO AGREEMENT rn 05.2005 MURIA. UNITED STATES TREASURY NOTE mu F1360354 A2 9128280V9 40.000. 39,900,003.00 4 125 DUE 05/15/15 *Al REPO AGREEMENT MEREST MATED STATES TREASURY NOTE 912828056 27.241,55 052005 DUE 04/302007 3.625 FILM F1330549 A2 RESALE INTEREST r 052005 INTEREST UNITED STATES TREASURY NOTE DUE 05052015 filM 11380354 A2 4.125 9128280V9 12.889.92 REPO INTEREST RECEIVED UNITED STATES TREASURY NOTE 91282/056 48.000.000 4100.000 ,00 0.543/06 DUE 0030/2007 3.625 3.625 DUE 04/30/07 FITM F1430546 Al RESALE AGREEMENT ZSITSEOCIA19- ANGS DELIVERED ANTED STATES TREASURY INNS 912828056 48.000.030 78,292,600.00 05/2105 00302007 3.625 DUE25 CUE 0420.07 3.6 FILM f1•00696 A2 TERM RESALE AGREEMENT 027 010101.0110 001 v171 8 b.) IJ DO EFTA01260457 WARGO MROUOtt n'S %MOUS CKNED AMMAR( OFFICE SERVICING YOUR ACCOUNT Boar. Stearns & Co. Irc. near 555anel Siones Can. BEAR 383 Madison Avenue Ole *moth Crew NMI ercatbn Mew Yon 11201-3859 STEARNS New York. New Yoh 10179 FINANCIAL TRUST CO INC 30 n. ,! Miner PI Pant 30.2005 7141011311 May 31. 21:05 Transaction Detail (continued) ACCOUNT MINDER TAX,A501 NUWIER On Fro REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (contnued) LAST sTATomR, ,tars 29.2005 SITILLIA041 TRADE DOE DATE nbUGACTOOd orscornew SIVIIOLCUSE. QUARTO DOT AMOUNT CREDEI MOM 0923/05 INTEREST mm0 STATES TREASURY NOTE 912828056 DUE 04/30/2007 3.625 17.681.06 0 FRM F1400896 A2 RESALE INTEREST 0 05124/05 DELIVERED UNITED STATES TREASURY NOTE DUE 04/30/2007 3.625 °MONSOON FITFA F1430548 A2 3.625 912828056 -48.000.000 48,180,080.00 TERM RESALE AGREEMENT m 05/24035 RECEIVED UNITED STATES TREASURY NOTE DUE 04/30/2007 3.625 912828058 61.000.000 61,306,000.00 3,625 DUE 04/30/07 C FUM F1440492 Al RESALE AGREEMENT in 05424/06 JOURIMI. UNITED STATES TREASURY NOTE ROA F1440343 Al 4125 DUE 05/15/15 912828099 44000.000 20.050.030.00 REPO AGREEMENT 05/24105 JOURNAL UNITED STATES TREASURY TOTE 912828099 30=0.000 29.925.000.00 F1TM F1400106 A2 4.125 CUE 05/15115 TERM REPO AGREEMENT 05/24/05 INTEREST r UNITED STATES TREASURY NOTE DUE 04/3012007 FITM F14 30546 A2 RESALE MEREST 3,62S 912628056 602.25 092405 INTEREST UNITED STATES TREASURY NOTE 912826099 9.020.44 DUE 05/192015 4.125 FRIA F1400606 A2 REPO INTEREST 06/2546 JOIJRNAL FEDERAL NATCNAL MEG ASSN 313610809 647.064 479.000.00 ESITSE00- 019- ANGS SERIES 348 CLASS 1 DUE 11/01/33 WM F1243221 A2 TERM REPOAGREEMENT 027 04.01.660140 071 1874 I8 b.) V.) 00 00 EFTA01260458 ClEABS.0 neouc. IIS 'MOLLY °MCA SuBSOPAY OFFICE SERVICING YOUR ACCOUNT BM. Scan SAWA*, Cap. Beat Stearn & Co. Inc. Cat Menton Urea wuln BEAR 383 Mac550n Avenue New York. New Yak 10179 Omar. — Vert 1120,41159 STEARNS FINANOAL TRUST CO INC 31 a 11 STAMM/ mow Pifil 30. 2005 THROWN Miry 31.2005 Transaction Detail (continued) ACCOUNT TOMER TAXPAYER MEW On Fie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (ccntrued) UST STAtte? poet 29.2005 SMARM Mat OUANTETT OEM AMOLOO CREW AMOUNT DATE DATE ItENSACITY4 DESCRIPTION StURCUCEST 05/25/05 JOURNAL FEDERAL NA113101. MTG ASSN 31311FCEIC9 -7.110602 3.800.000.00 SERIES 345 CLASS 1 DUE 11101/33 mu F1453273 Al 0 05/2505 JOURNAL REPO AGREEMENT MOM /M110/04. PAM ASSN SERFS 344 CUSS 1 3136FCBC9 5.463437 4.666.000.00 DUE 11/01/33 -n 05725/05 JOUPNAL FRU F1313180 a TERM REPO AGREE/400 FEOL IC. LOAN MTG CORP/P.310109 3128231)N6 2.409.103 516.000.00 C SERIFS 227 CLASS ID 5,000 DUE 12/01/34 rn 05/25/05 JOURNAL FEM F1333138 A2 TERM REPO AGREEMENT FEDI. HOME LOOM MIS CORP/510109 3128210116 &190.940 1,729,000.00 SERIES 227 CIASS 0 5.000 DUE 12/01/34 11314 11363275 82 TERM REPO AGREEMENT 0535/05 JOURNAL fItt Half LOAN MEG CORP/S10109 3128230146 8.672.760 1.887.000.00 SERFS 227 CLASS 10 5.000 DUE 12/01/34 r FM 11313180 81 TERM REPO AGREEMENT 3.951.000.00 05/2505 JOURNAL FEDI. HOME LOAN MEG CCRPIPS10109 3128210/16 .19.272.801 SERES 227 CUSS 10 5.000 DUE 12/01/34 FMA F1453273 01 REPO ACREEMENE 0545/05 JOURNAL FRECCE MAC EMOSERIES 2885 3139512813 43.743867 PSITS£00- 019- ANGS 5C-10 MR 4.210 DUE 07/15/19 FRU F14533245 Al REPO AGREEMENT 02? 08101.050241:03 001 VIPS rn I S IJ IJ 00 Oo v. EFTA01260459 CLEMS4 TRItOIXET ITS anct SERVICING YOUR ACCOUNT ATECE.I.Y WARD SIAISOIARY BEAR Beer. Stearns 8 Co. Inc. 383 Madison Avenue Dm. Sleirro Scents Co' UentbRIT ten*, Ter. STERNS New York. Nevaoik 10179 Broollin. Rea Yen 112014859 FINANCIAL TRUST CO INC 32 :r STATEARTETT :IRMO ADITI 30.2005 TRROVITET May 31.2005 Transaction Detail (continued) ACCOINT PANDER TATEPAYER KAMER REPURCHASEAND REVERSE REPURCHASETRANSACTION S (continued) LAST STATTIEENT April 29. 2005 SETILDIENT TRADE DATE DATE TRAWSILITOII DUCAT/RION SYPEDOLCUITIT CIU4,097 Offil wort 05/25105 JOURNAL FREDDIE MAC CMO/SERIES 2888 CIIIITO AI.ON11 3139612148 8,743.887 SCIO ELM 594.000.00 4.210 DUE 07/15/19 ram F1383180 A2 TERM REPO AGREEMENT 0 05/2SIOS MAHAL FEM. NOME LOAN FATG CORPOS10110 SERFS 228 CUSS 10 6.000 DUE 020135 31282YDP1 918.287 182.000.00 RDA F1333181 AZ m ii /.29/06 O1684LL TERM REPO AGRFFINNT FEDI. HUE LOAN MEG CORP•S10110 SERIES 228 CLASS ID 312821DPI 1.838.576 333.000,20 6.000 DUE 0201/35 ci Film F1313199 A2 m 0925106 JOURNAL TERM REPO AGREEMENT FEDI. Ka tom MD CORP/410110 SERIES 228 CLASS OD 3128291:01 2,296.719 415030.50 6.000 CUE 020133 HIM F131318)&2 TERM REPO AGREEMENT H 0623/05 JOURNAL ITN. HOME LOAN MID OORPOS10110 312132YDP1 8,428.013 1.113.000.00 SERIES 228 CLASS ID 6000 DUE 0201135 FITU F1373162 A2 r 05/26/06 JOURNAL TERM REPO AGREEMENT FEN. HOME LOAN miG CORPOSI0110 312132YDP1 8987.157 SIRES 228 CLASS 10 1.190.00090 8_,000 DUE 0201135 FRU F1363275 A2 TERM REPO AGREEMENT 06/25/06 JOURNAL FEDL 1106E LOAN MTGCOPP•310110 3128211)P1 -18.386.752 SERIES 228 CLASS 3.000000.00 SSITSEOCINDANGS 6.000 DUE 020135 Film F1463273 81 REPO AGREEMENT 021 007006.0•03 CO Si En I8 IJ IJ 4.• EFTA01260460 ~no nwo.w. rrs YIICLT ose) supawrt OFFICE SERVICEG YOUR ACCOUNT OW. SIMMS SOMISM 03M. Be.. Steams & Co. Inc. Wabotach OM( NYP BERR 383 Madisco Avenue New Yeek, New York 10179 ~or. HM It« 11201.34.5. STMRNS FINANCIAL TRUST CO INC 13 ..34 STAMMOR pv», Apal 30,2005 THAOVOM May 31. 2005 Transaction Detail (continued) /0201.PR OMGIR TAXPAYM 10.Got On Ille (continued) LAST STATEMEW Apil n. wc& REPURCHASEAND REVERSE REPURCHASETRANSACT1ONS ~rus OEscsopnw SI14831POUNP Munn, DINT WOUN1 out M OAIE 0925105 JOURNAL UNITED STATES TREASuRY NOTE 9121128039 20.000,070 20.050.000.00 EMA F1440343 A2 4.125 DUE 05/15/15 TIPSA REKI AGREENEW 0 06125/05 JOURNAL UNITED STATES !MISUNN NOTE ADA F1450395 Al 912828099 43.000.000 23.143.150.00 Z T 4.125 DUE 05115/15 RENT AOREEMENT 092905 INTEREST FEDERM. NATIONAL WC ASSN 3136/0809 919.28 E I SERIES 346 DASS 1 DUE 11/01/2033 0.000 FM F1243221 A2 REPO ERTERIS 0025105 INTEREST Mak NATIONAL LIM ASSN 3136FCBCI 5.969.89 SERIES 346 PASS 1 DuE 11/F101313t2033 0.000 FIN 163 C2 REPO !UFREST 06125/05 PREREST not Ia« LOAN /EG 00QP•S10109 31282%115 585.88 SERIES 227 CLASS 10 DUE 12/01/2034 5.000 FIRA F1333138 A2 RVO INTEREST r 05r252)5 PITEREST FEDL NOME LOAN MIG CORPAS10109 SERIES 227 GLASS 12. 31282/0116 1.422.10 DUE 12/01/2034 5.000 mi F1353275 82 REPO BIEREST NATERES1 FEDE HOLE 10111 WC CORWS101011 3128210N6 2.414.31 05/25/05 SERIES 227 CLASS ID DIE 12/01/2034 5.000 9SITS£00-IA19-ÅNGS EMA F1313180 82 REPO RATEREST 05125/05 INTEREST FREDDIE WC CLE/SERIES 2186 31396/2118 380.00 SC-VO FLYR DUE 07/15/3019 4,210 FIN F13831 A2 REPO INTEREST 60 OV wouoW:4203 ODl 713. IT1 1 8 IJ IJ DO 00 EFTA01260461 CUAQI0 WROttm IS OFFICE SERvICING VOuR Accoung 'ao' OW.4t0. UJOSOAR, BEAR Bear. 52ehM$ & CO. Inc. 383 Madison Avenue Ole*mean tem SWI Setur net Ca,. Comer Mall STERNS New York. New York 10179 Maly' 'Ow Vent 1120!-385.9 FINANCIAL TRUST CO INC 34 STATIMENT PER= AMI 30.2005 11010t04 May 31.2005 Transaction Detail (continued) ACC-NO man TOXPAVER WIPER On 1361 REPURCHASE AND REVERSE REPURCHASE TRANSACTION S (continued) NIT sTATeweirr Awry 29.2005 SMWJENT MAN nAn CC! IW26rCTYM commas sow/mum ostzsros MEREST FEOL NOME LOAN MTOCORVK10110 3128210% man /Acorn amen moue! (-) SERIES 228 CLASS° DUE 0201/2035 FILM F1333181 A2 6.000 177.66 0 REPO INTEREST 05/2505 MEREST FUE. HOME LOAN MG COROPS10110 312132YDPI SERIES 228 CUSS 0 426.05 cuE02/01/2035 6.000 BIM F1313199 A2 m 05/25/05 MEREST REPO INTEREST FECI. Hag LOAN WC CORP•510110 SUMS 228 CUSS 10 31282YOP1 530.97 DUE 02/01/2035 6.000 ci MIA F1313180 A2 m 05/25/05 MEREST REPO MEREST FEOL NOME LOAN LEM CORPOS10110 SERES 228 CUSS 10 31282Y0P1 813.73 DUE 02/01/2035 8.000 H Po RON) F1373 PITERES162 A2 66125105 MEREST FOIL ROME LOMIATGCORPM10110 312823W1 978.78 SERIES 228 CLASS 10 DUE02371/2015 6.000 FILM F1363275 A2 r 03/25105 INTEREST Rot INTEREST UNITED STATES TREASURY NOTE 912132LOY9 CUE 05/15/2015 4,125 1.598.0 FILM F1440343 P2 REPO INTEREST 05/26/05 JOURNAL FANNE MAE CMG/SUES 21:03-13 31392/062 12636.058 S RC1240 FLTR 4,910 DUE 03/25/33 LSTTSEOCINDANGS FITM F1403139 A2 TERM REPO AGREEMENT 022 01101/3550402 001 tens En 8 INJ IJ 00 EFTA01260462 =MND TfflOUCUT n voeux Omet) INTO)LAR9 OFFICE SERYCING YOUR ACCOURT Be. Sutra Smilles Cos. km. Stemms & Co. Inc. OTe Sanaa Caner *TT BUNR 363 Madren Avenue jeddit 10179 9». TT201.4.50 STEARNS FINANCIAL TRUST CO INC 35 et 3. relate T'Am Nyi 30. 2005 ncc.r.mr. may 31. 2005 Transaction Detail (continued) ACCOUNT %LAMB TATPAvER Nusers On Fifa 920119OLMICO LAST STATZUCer Api 29.2005 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS SOTLOADIT TRACE COANIIIY DCIS1 MW« CRÉON M'OUM an DATE TRANWItel CCSCRSTTION TIMSOUOISTP OS/26M JOURNAL FANME MAE CAE/SERIES 200343 31392101E2 4318034 5 RCR-P0 FLTR 4.910 DUE 03/25/33 FRAI F1463225 Al REPO AGREEMENT 05/2606 JOURNAL /NOUE MAI CLICKERIES 2003-13 3139211NQ 4318034 525.000.00 Z T S RCR-VO RIR ,910 DUE 03/25/33 MM F1463223 Al 1 1 REPO AGREEMENT 61.306.000.00 unnos EIEWERED UMM STATU TREASURY NOTE DUE 0430/2007 3.625 9128213056 11.000.006 8625 DUE 04/30,07 MM F1440492 A2 TERIA RISLE AGREEMENT 05(27,05 JOURNAL UNITED STATES TREASURY NOTE 9121328W9 23.000.000 23.143.750.W Film F1450395 AZ 1 125 DUE 05n 915 TÉPSI REPO Ammien 05/27035 JOU8IAL UNITED STATU IREASURY NOTE 9128211069 -38.060.000 38.095.000.W FMI F1470404 Al 4.125 DUE 0915/15 REPO AGREEMENT r 05127/05 INTEREST UNITED STATES MASS MIE DUE 3.825 912828058 10.898.67 HEM04/30/2C079 F14404 2 A2 RESALE Il/TERME 05/27/06 INTEREST UMTED STATES TRFASURY NOTE 9128280149 3.613.00 DUE 0S/192015 4.125 ETNA F1450T395 4.2 REFO PITERES 8SITS£00- 019- ÀNGS 027 0609942CONO Ib, VIII Ta 8 OO Ln O EFTA01260463 CLEARED 0910009 ors 900A 0.8903 StletuSe OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. OW. Stan Searon CCM. BEAR 363 Madison Avenue Cot Atoodsco. 0 Nor9, Pint Yin 11 201.3859 STEARNS Ncar YOlk New Y 10179 FINANCIAL TRUST CO INC STATAMENT PEA100 April 30. 2005 wraouom may 31, 2005 Transaction Detail (continued) ACCOurrt hue TAApAy011 Kneel On Flo REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (corainuea) LAS' STAMM Apnl 29.2005 5111111.910 TRADE DATE CAN IRMISAC11011 060801101/ 519.130UCUS• OUNCITY Astatit rate AMOUVI 05/31/05 RECOVED LIVED STATES TREASURY NON 9129290Y/7 54.000.000 54.000.000 .00 (-) DUE 05/31r2C07 3100 DUE05131/07 FTIV F1511194 Al R[50 E AGRUMEN1 3.500 0 TOTAL 057908.768.09 S533.318142 Or m MISCELLANEOUS 0. ( M2/DAY MAMACTON DISCRI01311 C(811480010 03030 MOWN ci 05/02/05 fl ag. FR CMOs NC 021.52128-F1 m owns 05/0405 CENRAL JOURNAL TOCNDY A/C 021-5212841 FR CNN NC 021-5212941 79.838.50 153.010.50 107.505.00 05/0605 JOURNAL TO (MDT NC 021-52128-F1 159.044.41 H 05/01105 JOURNAL FR CMDY A/C 021-5212841 70.660.50 05/1005 JOURNAL ER GIADY A/C 0214212841 109175.00 r 0912/05 05/12/05 *ANAL JOURNAL lOCIADY A/C 021-52128-F1 Dat130nt(FMM6GID 173.287.00 43.750.00 SETT.05.05 1000 DUE 05/01/35 MBS NET 05/12,05 05/12/05 JOURNAL nim4-30YRITIFIANGTO 50000.00 SL17.05/05 5.500 DUE 05/01/35 MS NET 06/12/06 6SITSEOCIND- ANGS 05/16/05 JOURNAL 10CMOY A/C 02142128-F1 106.290.00 05/18/05 JOURNAL ER CLOY NC 021-5212B41 21.631.00 05119.05 JOURPIN. TO CINDY NC 0214212541 611.641.50 022 0103105,3111)3 001 1I70 EFTA01260464 0.EARED THROVE.. n "fl ay Owe SUSPOLART OFFCE SERVICING YOUR ACCOUNT Bac Sten SaPetle$ CoO Bea.. Steams & Co. re. are .1/401)14.01 Gantt rare BEAR 383 Madison Avenue .00,0r. Mt T 11231-340. STEARNS a rk 10179 FINANCIAL TRUST CO INC 37 all STAIRWAY PERE0 April 30.2005 THR01.481 Vay 33. 2305 Transaction Detail (continued) ACCOARET WAIVE TAXPAYER MAURER On FIR (centitued) Lai STARMLNI AM 29. 2005 MISCELLANEOUS OAR /MAY TRAN5ACTON OESCREI1311 OWIT MGM CRUM MOW, °MOOS JOURNAL FR CMDY AIC 021-5212/3$1 156.062.50 05/23/05 JOURNAL IR ChoDY NC 0214212841 127.115.50 05/24/06 JOURNAL TOME* AC 02142139-F1 154.789.50 05/25/05 JOURNAL APR OS SPEC CLEARING FEES 1.600.00 z 05/25/06 JOURNAL TOCUDY NC 021-6212841 274.164.00 ii 05/26436 JOURNAL CORRECT Ma DORY 5/2$ APR OS SPEC CLEAR FEES 3COM C 06/26/05 JOURNAL TO CMCFf NC 021-5213041 56 300.00 in 05/27 1T5 fR CLOY AC 021-5212841 FR DAYIAC 0314212841 96.860.03 950.00 z $.-1410.254.91 1836.131.19 r Trades Executed Pending Settlement SETILEVENT Timm Oft OAR TRANSACTEM DESCREPTION ITTAKUCUSIP WAVER ACE OM Alga CREDO MOW 06102106 05/27/05 BOUGHT ALTAJOalnit LOAN TRUST 12667FG66 37.701.414.00 2.1562 827.671.71 SERIES 2004-3008 CLASS 1-A-8 OUE07/25/2036 02.080% 09TTS£00- O19-ANGS 0987049814332 REF *2C06052757050030 BS 02T Ce.enitadeas rn I S IJ IJ u, OO IJ EFTA01260465 CsCARC0 111•000tt its WriCsty 00140 Satacssstr OFFICE SERVICING YOUR ACCOUNT Beer. Stearns 6 Ca. Inc. 802. Stars Stcumni Cuts BEAR 383 MESSon Avenue One Veatch Cent/ 140th STEARNS New York. New Ycrk 10179 FINANCIAL TRUST CO INC 38 • sr STATE EN Pest= April 30. 2005 114110uati Wry 31.2005 aCtair WOES Trades Executed Pending Settlement (continued) TOPssER 'tea en FEe LAST STATOADC AO 29.2005 327111110.7 ita OAR DATE TIUNSAC71311 teSerancer SWOCUCUS• COWIN HIOE 02110121010.1 C2021 71.0.017 07/14/05 05/0605 SOLD nem 30YR TM GTO 5,080797 -30030.000.00 98.5195 29.555.859.38 SETT. 07/05 DUE 07/01/2035 05.000% 0987021011332 REF A 2005050657440000 BS 0 07/14/05 05219/06 SOUGHT FNIAL-30TRIMSANGTO SETT.07/06 5,082870 30,000,000.00 100.8671 30.260.156.25 CUE 07/01/2035 05.500% -n 07/14106 05/23/05 BOUGHT 0987280211332 REF • 2005051957050000 FratABOAPNL0/070 85 5482870 30.000.000.00 101 30.300.000.00 SEIT.07/06 C DUE 07/01/2035 05.500% in 0987135514332 RU 12005052357100000 BS 07/1005 05/C6/05 SOLD FNIAL.300191 •40STO 5182870 -30.000.000.00 100.5156 30.154.887.50 SETT.07/06 CUE 07931/2035 05.500% 0987280211332 REF P 200506085745(000 85 07/14/06 05/26105 SOLD FNLIA.BYIRB/041)6TD 5662870 40.090.000.00 100.9531 80.571.875 .00 5117.07/D6 r TOTAL DUE 07/01/2035 05.500% 0987016110332 Hs • 203505265718000D BS 381,017,027.96 S170282.421.20 Int save tada tt, not now .n any Wet 1601 0 1 statwyeet. T9ITS£00- 019- ANGS STOPI End of Staternen 027 01001/2601043 001 VOre rn 8 IJ IJ so 00 EFTA01260466 aLegtie reaccon I'S w“Our OmADO SuaSEPAser OEM( SERACING YOUR ACCOUNT eau. Sewn Seasbet Bear. Steams 8, Co. Inc. BEAR 383 Mo64on Avenue New York. New York 10179 Ow Ykuctech ctober IMO liceOr. Now Vat 1131O1411S0 STEARNS FINANCIAL TRUST CO INC Smilmeor PI/tOO NA 1.2005 ACCOUNT ETECUTNE GNMA GOVT BONO notOuCi A;c1 29.2005 VISIT OUR MOSUL www.bearsomms.corn ymM LAIMMIt What's In This Statement I IIIIIIIIIIIIIIII TAXPAYOt MAWR Cri nle tAS- sm-xmcor Minch 31.2005 Financial Summary 3 FINANCIAL TRUST CO INC Your Portfolio Holdings 4 00 JEFFREY EPSTEIN Transaction Detail 7 6100 RED HOOK QUARTER Trades Not Yet Settled 36 STE 63 ST THOMAS VI 00802 O Z T I I Your Portfolio at a Glance Market Value of Your Portfolio m TOTAL YALU( OF SECuRMES THS Pflu00 2,900 677 CAN a Equinoen 9180 992 271.66E LONG ACCRUED MEREST 49.699 filed S 900477 Income 77,315.615 NET CREDIT BALANCE 180.992 Care meet yam NET Boum THIS PERIOD $3,131,368 IIII Lest suommte notes web, r NET EOUITY UST STATEMENT 3.471.276 CHANGE SINCE LAST STATEMENT •339,907 There are no 'Stop Loss* atlas or other pending buy or sell open orders on file for your account. Z9ITS£00- 019- ANGS can THs sunray Fs lir klailinkail WPM. trey. II IS MI Kr4.0 MU. cleasnort Ns Canoe told et reuses tot sot worts Ste 'verse We for rrooltri Sterna.% 02' Co1005.11 21 CO1 1.577 I S b.) IJ 00 EFTA01260467 CUJJELD THROW, . RS HICur OWED WISSOARY Sear. kerma Scotia*. Co Cne lAttroCeth Genii ROD MIN II201.3360 FINANCIAL TRUST CO INC z m STATEMENT BACKER IS PRINTED ON THIS PAGE ci m z H r E9TTSEOCIND- ANGS 027 001006:11:24 001 V271 cr 8 IJ IJ DO EFTA01260468 LIDDED THR3LOK rre wICILY ante SUMMARY CifICE SERViONG YOUR ACCOUNT Da Sena 310.4144 Cop Bear. Steams & Co. Inc. OW Wadi Otis DDT BEAR 383 Madison Avenue New York. New York 10179 NM tut 11$01.343341 STEARNS FINANCIAL TRUST CO INC 3 of 37 STATENED, Waco Apfil 1.2005 nstwati Ap9 29, MOS 4-44-4, 464 wweEll Cash Flow Analysis Income Summary ToxiDenD waft D46 ODD® KAP TO DAD we moo LAST STATEDCDT March 31, 2005 U.S. Col. Bond Int. 185.544.78 2.696.001.23 OpeningBalance 177.667.54 Govt. Agency Inc. 552.436.36 2.574.774.36 Secures Sol0 1.359.111.947.26 488.527.96 Cap. Bond In. 111515.89 Orndends/Interest 852.37123 874.20 2.834.20 Credit Balance et 0 efiscellaneous Amount Credited 2.204.993.35 51.362.169.313.84 Reverse RCM:Ch836 Int. Total 167,202.34 51 019 575.57 991733.64 56.755.871.39 z -n Semites Bought Ontclendsgntorest Charged -1.358.335.855.07 -925.716.62 Boni Purchase Int. Repurchase ht. Esp. -925.716.62 .242.166.81 -4,426.001.99 .642.859.23 C Miscellaneous -2.804,417.29 in Arnow* Debited S-1.3132.065.988.98 Portfolio Composition z Net Cash Activity 103,324.86 CashCash Equivalent 180.992 Your Portfolio ClosingBalance 9180992.40 Fixed Income 2.900,677 Allocation Total 53,081.669 r Cash Balance Summary CHNNO MOM Margin 71667.54 186992.40 Net Cash Balance 577.667.54 1180.992.40 P9ITS£00-019-ANGS L Find Intone 95% Vv Mora patIont deeetit Coal Wry,/ rat, Con its dans. 1te vkC prtatespeetlemel fir ite *alto 'need vela of y Dna* all 0.1.3COS 11 14 001 D174 I8 b.) IJ 00 tri a EFTA01260469 CLF-s11.0 (FROWN ITS OFTICE SERVICING YCUR ACCOUNT 9.10Lsv OWNED SuSSOVJR9 BEAR Bear. Stearns 8 Co. Inc. 383 Madison Avenue Slesm Sonata Cn Che Iiiirototh Censer Ste BrooItn, KC Van 11291.3859 STERNS New Yea New Y 10179 FINANCIAL TRUST CO INC STATMENT PINGO AprIl 1. 2005 THROVOn AO 29, 2005 Your Portfolio Holdings ACCOWJT M*4R CASH & CASH EQUIVALENTS vsscrsvvs MASSERIPP E LAST Sisvr919.7 WPM 31.2005 eneNenara "ARC ISIIVATID 0.19/.(10 sweauCuStv II/ III InSUM trout MUOItll CASH BAIMICE TOTAL CASH & CASH EQUIVALENTS $1!,: 332 0 z T FIXED INCOME t l Government & Agency Obligations C D(3CRIPTION SYWOOUCUSI ACCI cuwnn Pea Wan VAIUE 0409.19 NITIALSI ESTIVAID m IMUIl MOW( MEW 3.) FOWL NATIONAL MTG ASSN 31393C2C5 TARGA 12,983.710 8.0124 1.040,305 5.741 CLASS SW 516.752 49.6731 aOATED DATE 041/3003 z BOOK ENTRY ONLY DUE FACTOR 01/25/20 3. 0% 33160499 .634 8 H F . NOME LOAN MTG coapesiono 31292YDP1 MCA 9.419.607 19.7500 228 CUSS 10 1.960.372 43.993 665.176 30.3797 DATEDDATE 02/01635 DATED BOOK ENTRY ONLY r CUE 02)01/2035 6.000% FACTOR . .94196062 Total Government& Agency Obligations 32.967671 $49,999 SI C1' .':+:e. TOTAL FIXED INCOME STETSEOCINDANGS YOUR PORTFOLIOHOLDINGSACCRUED INTEREST $49.699 YOUR PORTFOL IOHOLOINGSESTRAATEO ANNUAL INCOME $1,081,926 YOUR PRICEDPORTFOLIO HOLDINGS 33,081 669 .371 EFTA01260470 GLEAM 714)0JGH rs "ICUS OSNE0 StS6Cuity OFFICE SERWCIW YOUR ACCOUNT An. Wars Setae COrb Bear. Steams & Co. In& Or Vorreter." Otter Raw BEAR 383 Madison Avenue New York. New Tot 10179 OnOtlyb Na' crit 20 3419 STEARNS FINANCIAL TRUST CO INC S 131 sTArcerer reeco ApI 1. 2005 THROUC04 pi 29. 2005 CC0.b.7 M.PMER Repurchase and Reverse Repurchase Transactions "00•ArEA rime, On RA LAST STATPAINT March 31.2015 with Bear, Steams& Co.lne.outstanding asof date of statement PURCKNO lenitOOSE PRONG pi USE erCti AtcRuar PEPO OUMITITY suer Oft DAM RAIL Mak MUCH' Pra HAWN COW DESCrenew YOU PROvicato FEDERAL NADDNAL NTS ASSOC ostARGE4 02/076)5 OPEN 0.000 -50.000.000 313921062 SERFS 2CO3-13 CLASS 1.9800 03125433 0 YOU SOLD (REPO) 0004/06 06104/06 3.080 471000 -1.133 410.000 3136FCBC9 FANMEIME SIR? SERIES 346 CLASS PO 11101/33 FANNIEMAE STRIP -n YOU SOLD (REPO) 04111/05 05/11/05 3.130 -10.563.000 -19322 -30.000400 3136FAY/E6 SERIFS 329 GUNS PO FANNIDME STRIP 12/01132 YOU MD C REPO) 0011.05 05/11.135 3.130 4,553000 -8.313 -9,090.000 3136F03C9 SERIES 346 CUSS PO 11101/33 in YOU sow (REPO) 01/11435 06/11/05 3.130 -1.143.000 -L066 4.000.000 312821066 FEDERAL HOVE LOAN STRIP SERIES 227 CUSS 10 5.000012/01/34 YOU SOLD FEDERAL HOME WAN STRIP 3.150 666.030 424 -2.500.000 312826366 SERIES 227 CLASS 5.00001240134 (REPO) 04113/05 05/13/05 YOU SOLD FANNIE/4M SEW 0//15105 05/16/06 3.160 -11.171.030 -16.779 -30,959.779 3136FAVE6 SERIES 329 CUSS PO 12/01132 (REPO) r YOU SOW 4211.000 -6.323 -20.000.030 3136FCLC6 FANNIE MAE S1RP SERIES 353 CLASS ID 5,0000 0741/31 !REPO) 0015105 05/16.95 3.180 YOU SOLD FREODEMAC STRIP WINOS 05/16,06 3.160 .3.665.000 4.503 -20000400 31262Y0P1 SIRES 228 CLASS 10 6.0300 02,01/35 (REPO) YOU SOLD FAMdE MAE STRIPS 99ITS£00- 019- ANGS 04/2066 05/16/05 3.200 -14.660.000 .15.637 -23.003.000 3136FCC9 SERIES 352 CUSS PO 07/01/34 (REPO) YOU SOLD FEDERAL HOME LOAN STRIP (REPO) 04/22/05 06/16/05 3.230 -1.837.000 -1.618 4.500.000 3126211346 SERIES 227 CUSS tl 5.000012/0134 021 044005.11;24 ®1 1677 EFTA01260471 carAgoo 71.10)t.C.1 OfFCE SERYMG YOUR ACCOUNT WMCLLY On10.0 SIAISIDURy BEAR Beef. Steams b co. Inc. 383 Matson Mamie Ste. Sten SectilteS cap. Ott 1/erettCh 0rue 1.1515 STEARNS N. ., Yet rek 10179 Etacilin. µr Vprt 11201.12.55 FINANCIAL TRUST CO INC STAreurN7 PER0o Apr1 1.2005 notax# AO 29.2005 Repurchase and Reverse Repurchase Transactions (continued) AMC/Mr MAWR with Bear,Stearns& C o. Inc. outstanding as T.W.AYFJI tansBER On no of date of statement (continued) LAST STATE/TNT Wirth 31.2005 PlaCK1SU REPLII01IASI PRCTK pLacoAst (Two SIM/ DATE to:ALTO FIPO OUM(119 Dan INTE MON. WISEST. DAR AMINO Cul, CESOMION vou SOLO (REPO) 04/22005 FREDDEMIC SIRP 05/1605 3230 .528400 .173 .3.000.000 3121)220P1 SERIES 228 CUSS 0 6.0000 0201135 YOU PRONGED 044684) FREIWIDNAC STRIP 0402205 OPEN 0.430 .7.000.000 3128211241 SERIES 228 CLASS ID 5.0000 0201135 YOU PROVING GOVERNMENT NATIONAL MEG ASSOC m (IIMAIGIN) YOU SOLD 04025/05 OPEN 0.000 .28.400X00 38374F007 SERFS 2004-5 CUSS P 3.9500 02/20133 FEDERAL NOME LOAN STRE (REPO) 04/25005 05/11105 5.130 435.000 .531 .2,500.000 31282V/EI SERIES 227 CLASS 10 ci 5.0000 120144 YOU 'ROMEO m (MARGIN) 044505 OPEN 0.000 -1.500,000 3128211)N6 FEDERAL NOME WAN MP SERIES 227 CLASS 10 5.000012/3144 YOu SOLD )REPO) USTR IA= 02/1915 0402905 OPEN 2.750 -59.400.000 .13.612 H TOTAL REVERSE REPURCHASE TRANSACTIONS so so -60.000.000 91282891/9 TOTAL REPURCHASE TRANSACTIONS 1-113SiSOCT> $12-MT 94 Of Sal dew r L9TTSEOCIND- ANGS 5r1 8 so OO EFTA01260472 OFFICE SERVICING YOUR ACCOUNT ,,,o,..OVA., CLIAPAD DIRCAJGAOs SUBSAYARY Bear, Stearns & Co. Inc, fam Sims MAIle. BEAR sle/irk 383 Madison Avenue N (1-• weaned, Min Noll Mr Val 112014160 STEARNS 10179 FINANCIAL TRUST CO INC 7 ay SIAIME07 PIAOO MI 1.2005 1102:0201 MI 29. 2005 Transaction Detail ACOWN7 PANIE TAICrArtit wueER del Fle INVESTMENT ACTIVITY MT meteor, MEM 31. 2005 0222,21MT 1101004 OAR 0.18 MASACMC DESO2•1109 Sit. .069 Owarrre KM MO AMMO CREOfl AVOMI 04/0005 03)31105 BOUGHT UNTIED STATES TREASURY NOTE 9128280F4 50.000,030 98.73047 49.365.234 .38 DUE 12/310006 03.000% JO 30 =R. NT. 377.071,92 0989016192099 YIELD 3,755 %TO MATURITY OVER REF • 60901002 Al 04/0005 03/31/05 SOLD UNITED STATES TREASURY NOTE 9128280Q0 40.003.000 99.91406 29,974.218 .75 DUE 0301/2007 03.760%1.15 31 ROOT', NT. 3.073.77 0988016192099 NEW 3.795 % TO MATURITY -n 04/01005 03/31/05 SOW OVER REF I 00901006 Al UNITED STATES TREASURY NOTE 912828000 40.003.000 99,91408 19.957.031.25 DUE 03/310007 03.750% MS 31 ACM NT. 5.122.96 09813016192099 C YEW 3J795 % TO WOURHY rn 0007/05 PRINCIPM OVER REF 160901006 81 FEDI HOME LOAN MTG OW*1510110 SERIES 228 CASS 13 31282/091 .335.609 6 000 DUE 02/0105 pampa. REDUCTN 04-15-05 04408/06 04007,05 WSW UNITED STATES TREASURY NOTE 9128280M9 40.000.0:00 96.73438 38,693,750.00 DUE 02/15/2015 04.000% M 15 ACCR. NT. 229434.25 SPECK INSTRUCTIONS YEW 4,412 %TO MATU r 04/13/05 03/16.05 BOUGHT OVER REF *40970029 l AS Of 0007/05 Emu 30YR GTO Al 5042290 5.000.000 97.93359 4.896.679.69 SETT. 0405 DUE 04010015 05.000% 0987016110332 REF • 2005031657130:00 SS 04f1V05 03/14/05 BOUGHT FNMA 30YR Oro 51082290 10.000.000 97.71094 9.771.093.75 SETT. 04/05 89ITS£00- 019- ANGS DUE 0001/2035 05.000% 0967280211332 REF 2005031457280000 85 On 9400091104 031 Yen I Sb.) IJ 00 O EFTA01260473 CLOSED TellOuts ~Sr Pee ~WSW OFFICE SERVICING YOUR ACCOUNT Bear. Steams .5 Co. Ism San ea M. BEAR 383 Madison Avenue One elartOsh Cents Not ileoeler. New YeS 11201.3«, STEARNS New York. New York 10179 FINANCIAL TRUST CO INC 8 es sr BUM*sr nmco Apra 1.2005 0410~ API 29.2035 Transaction Detail (continued) ACSOiart susseR TA20>AVER NwilER INVESTMENT ACTIVITY (confirmed) tAiT STATPALs7 Myth 31. 2005 S/Ø TRAM DATE MR ntOiSAC11CN CISCRPTCS SYMESCu$2y SOU OWL wow CREW Ø111 04113/05 03/08535 CANCEL SELL FNIM 30yR GTO 5A82290 10.000.000 98.45875 0845875.03 SETT. 04/05 DUE 04A)1/2035 05.000% 0967016110332 0 REF w 2005030858030000 8S AS Cf 03/08/05 TO C31 PREVIOUS SELL 04/13/06 03/09105 CANCEL SQL FNMA 10YR GM 5182290 15.000.000 97.92188 14.688281.25 -n SETT. 04/05 DUE 0031/2035 054430% 0987015110332 REF II 03 2005030957380000 BS AS OF /09/05 70 00 PREVIMS SELL in 04/13/05 0Y1Ø BOUGHT Dam 3011 GID SETT. 04/05 WE 04/0112035 06.000% 0987135514332 5A52290 20%0.000 97.57813 19.515425.00 REF • 200503155714~ BS 04/13/05 03/1%6 CANCEL SELL DMA 30M GM 5A82290 20.000.000 97.65625 19.631.250.00 SETT. 04.05 0%04/01/2035 05000% 0%7280211332 REF a 2005031457080000 BS r 04/13/05 03/18/06 CANCEL SELL AS DI 03/14/05 TO CAL PREVIOUS SEIL Ram son: GTO 5482290 20400.000 97.91018 19.582.031 .25 SETT. 04/05 CUE 04/01/2015 05.000% 0967016110332 REF • 2035031857030200 BS AS OF 03/18/05 10 Oa PREVIOUS SELL _ 04/13105 03/18/05 CANCEL SELL ROM 30YR GTO Sa 20000.000 97.92188 19.584.375.00 SETT. 04/05 DUE 04/01/2015 05.000% 0967135514332 REF • 2005031857050000 85 AS Of 03/18/05 TO CM PREVIOUS SELL 69ITS£00 IN9 ANGS 027 0•1300.11:24 001 RSTT I981:ZZOO-V.L43 EFTA01260474 ClF.ARED THROUOn 116 VmOU.Y Om» SuaSowtY OFFICE sERviCivG YOUR ACCOUNT Bear. Steams & Co. Inc. I- Sam Sauna 0001. BEAR 383 Madison Avenue you. as lame& Unur NOM Nat Tot 112014159 STEARNS 10179 FINANCIAL TRUST CO INC IITATELINT ~OD WI 1.2005 TIFOUCH Aff1 29.200.5 Transaction Detail (continued) ACCOuN7 ~FR 1~Y6R mmeen On Fie INVESTMENT ACTIVITY (corenue0) WT STATEWNT march 31. 2005 semi:mew ~cc DUE out remAcncei cow/Pam SnAKUemS• QUANTITY Met CUNT ANOUNIT Mon /mourn 04/13/05 03/09.1% CANCEL SEAL FNMA 10YR GTD $482290 20.000.000 97.99219 19.598.437 .50 SETT. 04/05 DUE 04/01/2035 05.000% 0987021011332 REF 12005030957320000 BS AS Cf 03/09/05 TOO/ PREVIOUS SELL 04/13/05 0310805 CANCEL SUL Era 3M2GID 5932290 20.000.000 99.53125 19306.250 .00 SETT. 04/05 -n DUE 04/01/2035 06.000% 0987280211332 REF • 200503[157870300 BS AS Of 03336/05 TO C31. PREVIOUS SELL ~3105 rn 03/21/05 BOUGHT FNMA 30YR GTD SETT. 04/05 DUE 04/01/2035 05.000% 0987016110332 REF 12005032157140000 BS SA82290 40.000.000 97.75050 39.100.000.00 04113/05 03/30.05 BOUGHT FNMA 30YR GID SA82290 50.0800.800 97.39644 48.599.218.75 SETT. 04/06 DUE 04101/2035 05.000% 0987280211332 REF • 2005033057320000 9S r 04/1305 0311605 CANCEL WY FNMA ØR GID SETT. 04/06 DUE 04/01/2035 05.000% 5A82290 -5.000.CCO 97.93359 4.1396.679.59 0987016110332 REF • 2005031557130000 BS AS OF 0311610$ TO Ca. PREVIOUS BUY 04/13.05 03/14/D5 CANCEL BUY MI». 3D OM 5882290 .10,000.00D 97.71094 9771 093.75 SETT. 04/05 OLITS£00- IA19- ÅNGS DUE 04/01/2015 05.000% 0987280211332 REF • 2005031457280030 BS AS Of 03/14/06 TO GEL PREVIOUS BUY 02/ 0113005.11-24 001 •477 In I 8 IJ IJ 00 IJ EFTA01260475 CLATAC0 omoccrr rra vniCATY OAT40 assotore OFFCE SERY112.0 YOUR ACCOUNT Bear. Steams & CO. Ix. ter. Steams Scents Cap. BEAR 363 Mad6on Avenue Cum IATATATA few Mn Botedr‘ Nee at 20 309 STEARNS New Yoh New York 10179 FINANCIAL TRUST CO INC 10 S37 STAMM:NT 70:0 AO" 1.2005 THROUGH /pi 29.2005 Transaction Detail (continued) ACCOurie N TATTTAYEA i n On Fie INVESTMENT ACTIVITY (continued) LAST erraemorr /Arch 31. 2005 SITITDADIT 'w CATE DATE IRIASAC11014 oucavram SYMICUNINe MUM 000E MEW AMOUNT CRIDIT MOM 0411305 03/06/05 SOLD FNMA 30YR GTD 5182290 -10.000.000 98.46875 9.845.876 .00 SETT. 04105 DUE 0401/2015 05.000% 0987016110332 0 04/13435 03/09.05 SOW REF • 2005030856030000 BS FNMA 30YR GTD SETf. 0405 5/02290 -15.000.000 97.92188 14.688281.25 DUE 0401/2035 06.000% -n 04/13/05 03115.05 CANCEL BUY 0987016110332 REF 4 2005030957380000 BS Ram 30YR GTD 5882290 -20.000.000 97.57813 19.515.625.00 C SETT. 04/05 DU E 0401/2015 05.000% rn 0987135514332 REF • 2005031557140000 BS AS OF 03/1505 10 070 PREVIOUS BUY 04/1305 0311405 SOW FNMA 30YR GTD SA82290 .20.000.000 97.65625 19.531.250.00 SETT. 04/05 DUE 04/01/2035 06.000% 0987280211332 REF It 2005031457080000 BS 04.113/06 03/1105 SOU) Maw 30YR GTD SA82290 -20.010.000 97.91016 19.582.031.25 r 04.515 DUE 04/01/2035 05.000% 0987016110332 REF # 2005031857=000 BS 0013/06 03/1806 SOW FNMA 3001 GTO SA82290 -Z0.010.000 97.92188 19.584.375 .00 SETT. 0405 DUE 04/01/2035 05.000% 0987135514332 REF # 2005031857050000 BS ILITS£00- 019- ANGS 04/13/06 030905 5010 DMA 30YR GTO SA82290 .20.100.00D 97.99219 19.598.437 .50 SETT. 04/05 DUE 04/01/2035 05.000% 0987021011332 REF • 2005030957320010 BS 027 040205:1124 0:11 V077 rn 8 IJ IJ 00 00 CT W EFTA01260476 CLEARED 111ROUOn ns SLY ORM112 SUISOCUJIY OFMCE SERVICING YOUR ACCOUNT Ow Swam Saone. On Bear. Steams & Co. Inc. Ono Morow0 Caw Wet BB‘R 383 Madison Avenue illeork 10179 Nmy vat 1120W/1St STEARNS FINANCIAL TRUST CO INC 11 or STATEMENT POI100 70A1 1.2006 TRPOUON Aoci 29.2005 Transaction Detail (continued) ACCOUNT NURSER TAXPAYER 00-PAIER um INVESTMENT ACTIVITY (continued) LAST STATEMENT Moro 31.2005 SETREMOO 1Rellt DATE CATS Imacaw OLSCRIPSON smeasaeat Mom Pitt Dun MAWR CRUM mourn 04/13/05 010805 SOW DMA 30YR GTO 5.02290 -20.000400 98.53125 19.706.250.00 SETT. 04/05 DUE /01/2035 05.000% 098270480211132 REF • 2005030857670000 85 04/1105 03/21/05 CANCEL BUY FNMA 30YR GTD 5482290 -40,000.WO 97.75000 39,100,000.00 SETT. 04/06 DUE 04/01/2035 05.000% -n 0987016110332 REF • 2005002157140030 BS AS OF 03/21/05 TO W. PREVIOUS BUY C 04/13)05 03/3005 CANCEL BUY FNMA 30YR GTD 5ETT. 0405 5A822£43 -50.01:0.000 97.39844 48.699.218.75 rn DUE 0 1/20 05.000% 098724A) 8021133352 z REF • 2005033057320000 BS AS OF 013005 TOW. PREVPUS BUY -H 04/13/06 0114/05 BOUGHT FNMA 30YR 010 SETT. 0406 DUE 04/01/2035 05.500% 5182261 5.000,1703 100.13281 5.006.640.63 0987280211132 REF • 2006031457290000 85 r 04/1305 03/16/05 BOUGHT FNMA 30YR GM SETT. 0405 DUE 0401/2035 05.500% 5482291 5,000.000 100.26563 1013281.25 0987021011332 REF ft 2005031657240000 BS 04/13/05 03108/05 CANCEL SW. FNMA 30YR GTD 5452291 10.000,000 100.70703 10.070.703.13 SETT. 04/05 DUE 04/012035 05.500% 0987016110332 ZLITSEOCIND- ANGS RN a 2005030858150300 8S IS CE 03108/05 10 at PREVIOUS SW. 027 040006:1114 CO1 1201 8 IJ IJ 00 DO EFTA01260477 =veto ria0V014 NnOLLY a* to SUBSOKRY OFFICE SERVCING YOUR ACCOUNT Bs. Sun Secuta. Corp BEAR Bear, Steams & Co. Inc. 383 Madison Ronne Orr vecroleu, Caul NoT trail" Nem vat 11201.3e59 STEARNS New / Y 10179 FINANCIAL TRUST CO INC 12 an STATOMWr Ptio00 An 1. 2005 TH110004 4.-1 29.2005 Transaction Detail (continued) ACCOUla MUNN TAVPAYER maw On Re INVESTMENT ACTIVITY (continued) tAIrT STAID.? WO 31. 2005 untEmOn 11140E DATE co% PAHIACTM ocsauPTICAT Matt/CUSP CHmairy macc Dun MOW CRUZ MCS 04/13/05 03)09416 CANCEL SELL WM 30YR GTD 5A82291 15.000.000 100.28125 15.042.187.50 SETT. OND5 011E 04/01/2035 05.500% 0987797115332 0 04/1105 0309/05 CANCEL. Sal. REF • 2005030957390000 SS AS OF 0309105 TO OIL PREVIOUS SW. FNMA 30YR GTD 5AB2291 20000.030 100.34766 20.069.531.25 -n SOT. 04/05 WE 0401/2035 05.500% 0987135514332 REF • 2005030957280000 BS 03/09/05 C AS Of TO CIO. PREVIOUS SELL in 04/13/05 03)29.06 BOUGHT MIA 30W GTD SER. 0405 04/01R035 05.500% 0987135514332 5A82291 20000.000 101.48438 20296.975.00 REF • 2005032957130000 BS AS OF 03/2005 04/1305 03/3005 BOUGHT FNMA 30YR GTD 5482291 3.5.000.000 99.81250 34.934.375.00 SETT. 04/05 DUE 0401/2015 05.500% 0987031317099 r 04/1306 03/1405 CANCEL BUT REF Ar 2005033057390000 8$ FNMA 30YR GTD SETT. 04•75 SA62291 .5.030.000 100132131 5.006.640.63 DUE 0401/2035 05.500% 0987280211332 REF e 2D:6031457290030 BS AS of 03/14/05 TO CXL PREVIOUS BUY 04/1310$ 03/16/06 CANCEL MN nom ion cm 5A92291 -5.000400 100.26563 6.013.281,26 ELITSEOCIN9- ANGS SETT. 04/05 098E oval do 05eco% Du 702101 13ss32 REF • 2005031657240000 85 AS OF 03/16.05 TO 01 PREVIOUS BUY 024 040003:1124 001 I8 IJ IJ 0o EFTA01260478 omkso Imam. RS VRCLLY CYMLO SUMMARY OFFICE SF_RVICIVG YOUR ACCOUNT BEAR Bear. Steam 8 Co. Pt 383 Madison Avenue GIAPaXech Mr SNITS Seturties COP Cent Ian Nem RA 11201.160 New York. New York 10179 STEARNS FINANCIAL TRUST CO INC 13 :e STATEYERT PER/CO Asti 1.200$ ThROL1O,1 AO 29. 2005 Transaction Detail (continued) ACO3LIC WARIER TAXPAYER RAW On Re INVESTMENT ACTIVITY iccetOuedi LAST STATWENT March 31.2005 SIITLDiert 11ROS /Art a1L TRuGAMCW OISCRPT311 Med/CUSP Oman OM WOW CAM sheaf 04/13/05 03/08405 SOLD NOM 3018610 Me2291 .10.000.000 100.70703 10.070.703.13 SETT. 04105 DUE 04/01/2035 05000% 0987016110332 REF 12005030858150000 EIS 04/13/06 030905 SOID FNMA 30YR GTD SA82291 45.000.000 100.28125 15.042.187 .50 SETT. 0405 206.500% -n 0411306 03/0905 SOLD 04/01/20353 0098779711 REF a 2005030957390000 BS FNMA 30YR GM 5.082291 -20000.000 10004766 20.089.631 .25 SETT. 04/06 C DUE 0401/2035 05.500% 0987135514332 in 0411105 03/29/05 CANCEL BUT REF • 2005030857280000 BS FNMA 30YR GM SETT. 0035 5A82291 .20.000000 101.48438 20.296.875.00 CUE 04/01/2035 05.500% 0987115514332 REF • 2005032957130000 BS AS OF 0309205 tO Ckl PREVIOUS BUY 04/13/05 03/3005 CANCEL BUY FNMA amli GTO SA82291 .15.000.000 99,81250 34,934,375.00 r SET/. 01/05 DUE 04/01/2035 06.500% 0987031317099 REF 0 2005013057390200 BS AS OF 03/30/05 TO CXL PREVIOUS BUY 04/1195 imams CANCEL SELL FNMIJCIVRIFNIANGID 5.082357 20,000.000 101.71875 20.343.750.00 SETT.O4/O5 CUE 04/01/2035 00005% 0987135514332 PLITS£00- 019- ANCIS REF 0 2005032957090003 BS AS OF 0307905 TO CIL PREVIOUS SELL 027 0400/36:1114 001 WY 8 b.) IJ 00 3O EFTA01260479 CLEARED 11410314 as VTIAJNY 01.03 SUSSOARY OFFICE SERVICING MP ACCOuNT Sew Steams I. Co. Inc. Ikar. SRA,/ Swabs Carp. BEAR 383 Madison Avenue ass O,e Uteteech Cane hoy/T ETTNA Orr tilt/Pi-35SO STEARNS 10179 FINANCIAL TRUST CO INC 14 337 STAN/WENT PERICO Nell 1.2005 meoupt Apt 29. 2005 Transaction Detail (continued) ACCOUNT MASER TAXPAYER Na.,, On Fie INVESTMENT ACTIVITY (coca:log(0 Lan stosavar Marta 31. 2005 Strrwanrt 1010E ow run mustmed cocarmota SPRICOCUSP OIRATIN 140E DNB AMOUNT OARDIT a/OWN 04/13/05 03/3005 CANCEL SW. FNIAA-30YRITN34400 5/92357 20.000.000 101.92199 20.384.375.00 SET1.04705 DUE 04/01/2035 06000% 0987797115332 0 04713/05 04/01395 BOUGHT REF 0 2035033057150000 BS AS OF 03/3006 TO CXL PROMOS SELL FNIMPOYR(FNIANGTD 9.82357 20.000.000 102.45313 20.490.625 .00 -n SETT.04/05 CUE opotrzoss %sax 0997280211332 REF 0 2005040657500:00 EIS C 040305 04/07/05 SOUGHT F141.6.04/05 SER %3CMTPMANOTD SA82357 20.000.000 102.64063 2052%125.03 rn DUE 04.01/2035 06.000% 0967260211332 REF * 2005040757250000 85 040105 012905 SOLD Flaw30YRITTIMA1G1D 5032357 -20.000.000 101.71875 20.343.750.00 5ETT.04705 DUE 04/01/2035 06.000% 0987135514332 REF *2005032957090000 BS 04713/05 030005 SOW MAA-30YRIFNIAA)GTD 5/82357 4 13.1330.003 101.92189 93.394.375 .00 r SETT.04/05 WE 04/0172015 06.000% 0987797115332 REF • 2085033057150000 85 04/1105 04/06/05 CANCEL BUY FNIM-30YRONTANGTD 5/82357 40000.030 102.45313 20.490.625.00 SETT.04/05 DUE 0401/2035 06.000% 09972130211332 REF • 2005040657500000 85 AS Of 04/0605 SLITS£00- 019- ANGS TO CO. FREW:VS BUY 927 0030/06:1134 031 WIT I8 IJ IJ 00 01 EFTA01260480 °JARED Iwo:arm ITS WIIRLY Ome Sue&Carr OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. bat. S'en ~es coa BBNIZ 383 Merhon Menus New Tork, New York 10179 Cre ~each Carat 1~ * eat" New v0. 112013859 STffiRNS FINANCIAL TRUST CO INC 15 • t, smmerr v[ø00 AM 1.2035 TnaCtIGm /01 29.2005 Transaction Detail (continued) ACCON4* mvidea ~ ER n1.0011 On Me INVESTMENT ACTIVITY (confirmed) LIST S7ATTWPC mans 31. 2005 WILIAM ~X OAT( OAR SIIMOLORIO OU/NMY PRIDE Me AVOW cmon A5101,10 04,13.1,5 0407/05 CANCEL BIN FF844.30YRLF1•0010 5482357 -20,C00.000 102.84083 20.528.125 .00 SETT.04/05 DUE 0401/203.5 08.000% 0987280211332 REF • 2005040757250000 85 0 AS 01 0407/05 TO CXL PREVIOUS BOT OMI3,05 04/1205 IMIGHT uNrrEo STATES TREASURY NOTE 912828000 20. 00.000 100.10158 20.020.312.50 DUE 03/31/2007 03.750% PAS 31 ACCR.M. 26.639.34 0988016192099 1 1 MI) 3,695 % TO WARM OVER REF * 01021009 AL 04/16105 03/29635 BOUGHT FILM 30YR GTD 5032291 20000000 101.48438 20.296.875.00 SETT. 0405 in CUE 04/010035 05.500% 0987135514332 REF 12005032957130000 BS 04/18105 03/2906 CANCEL BUY ENN 30YR GTD SA82291 -20.000. 101.48438 20298275 .00 SETT. 04/05 DUE 04010035 05.500% 0987135514332 REF es 2005032957130000 BS AS OF 07/29/05 TO CXL PREVIOUS BUY r 04/1305 03/1505 CANCEL SELL F/AMISTR(ISMA-15)011) SETTS:W(0 DUE 04/01/2020 04.500% 5032386 20000.000 97.74219 19,548,437.50 09037135514132 REF S 2005031557250000 OS AS OF OW SOS TO CIO. PREVIOUS SELL 04/18.05 03/14/05 BOUGSff FMM.15YRITTIMA.150TD 5482368 20000000 97.77344 19.554.687.50 sen.avos 9LITS£00- IA19- ANGS CUE 04/01/2020 04,500% 0987230211332 RU *2005031457040003 BS on ou30106:1124 001 V07? ril 8 b.) IJ 00 00 EFTA01260481 CAEAREO netouce ITS vA.C.u.v CANNED SueSOWATI CfFICE SERVICING YOUR ACCOUNT Bear. Steams ft Co. Inc. Dew. Simis Seat Co. BEAR 383 Madison Avenue Y 10179 Cre *meth Comm Mare, STEARNS FINANCIAL TRUST CO PC STATE:KAT RETe00 April 1.2005 TuR000.4 AFL"! 29.2005 Transaction Detail (continued) ✓OYM Nutilstx TAXPAYER inseirR Oa Me INVESTMENT ACTIVITY (continued) LAST STATE...EV Myth 31.2005 SITTIDAMT TRAOI bAlt DAM TRAMACTON OtSCRIPTICIN SWAIOUCUSIP Garr( PRIPX 01W MOM own WPM 00845 03/0966 CANCEL SELL FRINuivrn(F1644-15)810 5A82366 20.000,000 97.95313 19.590.625.00 SETT.04/05 DUE 0401/2020 04.500% 0987016110332 0 REF * 2005030957590000 8$ AS OF 03/09/05 7001PREVIOUS SELL 04/1845 03/0845 BOUGHT FNMA-1561(17644.15)GTO 6492366 20.000.000 98.54603 19.709.376.00 m SETT.04/05 DUE 04/01/2020 04.500% 0987280211332 REF ♦ 2005030857680000 BS 04/18/05 03/1545 $010 TNIAA-15YRFNIEM15)010 5.122346 -20.006000 97.74219 ci 19,548.437 60 SETT.04/05 m OUE 01/01/2020 04.500% 0987135514332 REF* 2005031557250000 FIS 04/18/06 03/1406 CANCEL BUY FAMA-15YR(1161615)6113 SA82386 -20030.000 97.77344 19.554.687.50 SETT.04/05 H DUE 04/01/2020 04.500% 0987280211332 REF • 2005031457040000 B$ AS OF 03/1445 TO C6 PREVIOUS BUY r OUTBIDS 03/09/05 SOW FNIM-15YR(F1616INGTO SETT-0405 DUE 04/0112020 04.507% 6A82366 40600020 97.96313 19.590.625.00 0987016110332 REF C 2005030957590000 BS 04/10/05 03/0605 CANCEL BUY FNIAROSTR(MPAA-15)GTO 5482366 -20.000.000 118.64699 19.709.375.00 SETT.04/05 DUE 0441/2020 04.500% 0987280211332 LLITS£00 IA1D ANDS REF C 2005030857662000 B$ AS Of 03/0605 TOO1 PREVIOUS BUY 04/3006:1124 OCR Vill 698aZOO-Vin EFTA01260482 M csetn n*Ou0m RS \WOOLLY Cffile.1) antsman OFFICE SERVICING YOUR ACCOUNT Ber. Steam Scants. Cap. Bear. Stearns 8 Co. Inc. BEAR 383 Madison Avenue Now York New York 10179 Coe I.Muciach Grow Neon Orot*Ln. kw Y0.1 11201.31159 STEARNS MINIM FINANCIAL TRUST CO MC 170. far KAM API 1.200S NAM% Lel 29.2005 Transaction Detail (continued) AC420001 MAIM TNOWeeR Wide% On ne INVESTMENT ACTIVITY (continued) LAST STAMW WEN 31.2006 1201.0400 l'.a Mn an nuamcnow 04303PTION SIL4024124.61 omen NCI Mil MONT OBOE %CUNT 04118105 03129115 BOUGHT FNIA‘15YR(F7B40175)010 5032462 20.000.000 101.48438 20296.875.00 SETT.04/05 DUE 04/01/2020 05.500% 0987135514332 REF IP 2005032957130030 BS AS OF 03/21805 04118105 03/30/05 SOUGHT MILL.15%101450015)G11) 5482462 20.000.000 101.64063 20.328.125.00 SEEL04/05 DUE 04/01/2020 05.500% ii 0987797115332 REFS 2005013067110000 BS 0411805 04/05405 CANCEL SELL 08444 SYR07044.15)GTD SA82462 20.000100 102.06250 20.412.500.00 C SL17.04105 DUE 04/01/2020 05.500% in 09672130211332 REF r 2005040657540000 BS AS OF 000305 70 (3CL PREMUS SELL 04/18,05 04/07/05 CANCEL SELL F7044.15YRONIA4.15)003 SA82482 2o.on000 102.17188 20.434.376.00 SE11.04/05 CUE 04/01/2020 05.500% 0987280211332 REF S 2035040757210000 BS AS OF 04/07/05 r 04/18/06 03/2906 CANCEL BUY ro ar PREVIOUS SELL 04144-1SYR(RaM-15)GTD SETT.04/05 6.412462 40400.600 101.45418 20.296.875.00 DUE 04131/2020 05.600% 0987135514332 REF 41 2005032957130300 es PS Of 03/29105 70 (IL PREVIOUS MN WINDS 03/30/05 CANCEL BUY Fro44.15709044.151G1D 5482462 -20.000.000 101.64661 20.325.125.00 8LITS£00- 019- ANGS S17104/05 CUE 0401/2020 05.503% 0987797115332 a 2105033057110000 BS RUOF 013005 AS TO CXL PREVCUS BUY 027 44,7105.1I 24 OCII VIII77 En I8 b.) IJ so 00 --J O EFTA01260483 CLAP= THPICUCIn CPS tetiCietv CiATED SUMMARY OFFICE SERVICIVG YOUR ACCOUNT Beat. Stewed & CO. Inc. OW. Stem SeCultets Cap. BEAR 383 PAIN:Dr Avenue One I.PepeteCh Cruz Perth eavr, wed vree 11201.1959 STEARNS New Vat, New Yak 10179 FINANCIAL TRUST CO INC 18 on) STATEMENT PIRKO Ap1l 1.2005 nwowan ANII 29.2005 Transaction Detail (continued) ACCOLKT Name TAXIMYER Ntateell On FIR INVESTMENT ACTIVITY (callnued) LMT Ammon Meech 31.2005 StInDion Mal DATE 041E amisAcnOt 511MOucusiv Gumany Pact men mourn tam wawa 04/18,05 04/06/05 SOLD FNMA-151REINTAA.15)GTD 5.482452 .20.000.000 102,06250 SETT.04.05 20.412.500.00 DUE 04/01/2020 06.500% 0987280211332 0 04/18/05 04007/05 SOLO REF 0 2005040657540000 BS FASt4.151R6NIA4-151GID SETT.04/05 c4x 04/01/2020 05.500% 5682482 -20.000.003 102.17188 20.434,375 ,00 -n 04118.05 04/15/05 BOUGHT 0987280211332 REF • 2006040757290000 ES UNITED STATES TREASURY NOTE DUE 5 .000% FA 15 9128280619 5.00,000 97,71875 4.885.937.50 ACCR. INT, C SPECIAL INS 02/15/201TRUCT04IONS YIELD 4,286 %TOMAIIIRTIY 34.25404 rn 04/1005 OM WO5 SOW OVER RU 0 01053517 A3 1VWEB UNITED STATES TREASURY NOTE DUE 02/15/2015 04000% FA 15 91282801.49 .15.003,000 98.05469 14,708.203 .13 0988027495099 ACCR. M. 104.419.85 YIELD 4,244 %10 wouRrrt GVER Rd 0 01081006 Al 04/50/05 04/18/06 BOUGgT FUCK NATIONAL MTG ISSN 3136FCKC9 20.311.170 78.68750 15,982,352.30 SERIES 352 CIASS 1 CUE 07/01/2034 00,001% 0987000510332 r 04/22/05 04/21/05 SOLD REF • 2005041857040000 85 UNITED STATES TREASURY NOTE 91282884/9 -10.000.000 97,62500 9,752,500.00 DUE 02/15/2015 01.000% FA 15 0986280293099 ACCR. WT. 72,928.18 YIELD 4_ 298 %TO MATURITY OVER REF • 01111026 Al 04/25/05 PRROPM. FEDERAL NATCIML MTG ASSN 3135FAWE6 405.707,10 SERIES 329 CUSS PO 6LITS£00- 0/9- ANGS DUE 0101/33 STRP PRP) RA) 03-05 P/D 04-25.06 REPO P 61 0.0= 927 ousIONII:24 Doi WTI rn 8 IJ 00 ,19 -3 EFTA01260484 CLEME0 11000.13.4 MOLLY 010•0 SUSSACtAfre OFFICE SERVICING YOUR ACCOUNT lbw $1•4rns100,00$ Cap Seed. Steams & Co. Inc. Ow 11•00both C— Wm BEAR 383 S•tackson Avenue k 10179 Or001410. New York 11201.1$59 STEARNS iimis FINANCIAL TRUST CO INC 19 a vr STATSIMICt lit1=0 Al 1.2005 TnAOWk Apra 29.2005 Transaction Detail (continued) setorra human TAxPietta mal0HI On Re LAITY samara LW. 31.2006 INVESTMENT ACTIVITY (continued) UrrunMn TRADE OWE DEW *AVM CNN S omt OISCMP11011 snaroLcus• 01111111Y PRNEWAL FEDERAL NATIONAL MTG ASSN 3136FAWE6 418.69474 04/2905 SERIES 329 CLASS PO CUE 0101/33 STRP 0 04/25/05 PRINCPAL PRP/ WO 03-05 PA) 04.2505 REPO P & I 0.0000 FEDERAL NATIONAL NIG ASSN 31393C2C6 442,965 SERIES 200349 CLASS SW -n 002905 PRINWAL 4,150 DUE 01/2503 PRINCIPAL REDUCTN 04-25-05 FEDERAL NATIONAL MTG /491 3136,909 16.92027 SERIES 346 LASS 1 C DUE 11/01/33 rn ARM WO 03-05 P/D 044505 REPO P & I 0.094) PRINCIPAL FEDERAL NATIONAL MTG ASSN 3I36FC8C9 38.860.83 04/25/05 z SERIES 346 CLASS 1 DUE 11/01/33 PRP RID 0305 PM 0445-05 REPO P I 0.0000 PRPICPAL FEDERAL NATIONAL MTG ASSN 3136FC8C9 130,15500 04/25/05 SERIES 346 CLASS I DUE 1101/33 r PRIN RFD 03-05 913 0445-05 REPO P I 0.0000 10428125 10.028.125.00 04/2805 0447/05 BOUGHT UNITED STATES TREMURY NOTE 912929000 10000.003 DUE 03/31/2007 03.750% MS 31 a INT. 28.688.52 SPECIAL MSTRUCTIONS YIELD 3,596%10 IMTUMTY GVER REF re 61173441 A3 YAWS 04/29/05 04/28/05 BOUGHT LIMED STATES TREASURY NOTE 9128280MP 10.000.000 90.78123 9.878.125.00 OSTTS£00- 019- ANGS DUE 02/192015 04.000% FA 15 ACCR. NT. (0.662.99 0988280293099 YIELD 4.152 % TO IMTURIM GVER REF • G1181014 Al Or/ 01/30016:1124 001 MP/ rn 8 IJ IJ —J 1.0 EFTA01260485 CLEARED noctropi RS WM& ET MUDD stectotury OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. Bear Stains SecuiliTS Cap. BEAR 383 Madison Avenue Ono Monad, Una. rextr. WA Tot 201.10S) STEARNS 10179 FINANCIAL TRUST CO INC 20 d n STATEMENT PERIOD Arl 1. 2005 DERCEJOM Ay, 29.24405 Transaction Detail (continued) ACCOUTET TAAIPEAR manta .MASER On Flo INVESTMENT ACTIVITY (continued) LMT trAnnairr larch 31.2035 Maitfit TRADE DATE DATE TRAMACDCW °ESCAPEE* SYMODUCLISIP OuNAITT ERCE cm new OttOri AVOLut 04(29505 04/28/05 !MGM UNITED STATES MECUM NOTE 912828000 50.000.000 100.30078 50,150,390.63 DUE 03/31/2007 03.750% LC 31 0988016192099 ACCR. INT. 148.585.57 YIELD 3.585 %111) MATURITY GuIR REF Y G1181005 Al 0 TOTAL S-416.802,404.41 Stt2.470.259.70 Z T INTEREST T I 5 DATE 04401/05 OCSCMPTIN AVG BAL 528.74ORT 1.920 SYwiaJCUSP QUM,' RATE 011 CENT MEOW CCM NOM m 04/15/05 021 017CE INTEREST 0305 FEDI NYC LOAN MEG CORP•PS10109 SERFS 227 CLASS 10 31282VDN6 50000 874.20 34.736,63 DUE 12,01/2034 5. NT RID 03-05 PA)04.15 000 -05 REPO P & I 5.0300 04/15/05 MX HOIAE LOAN MEG CORPs$10109 31282YDN6 6.0030 SERIES 227 CLASS 10 46,996.61 DUE 12/01/2034 5.000 r 04/15/05 INT RID 03-05 FM) 04.15-05 REPO P& I 5.0000 FEDI NOME LOAN MEG CORINK10110 3128211:411 6.0000 48.776.06 SEWS 228 CLASS 10 DUE 02/01/2036 6.000 R/D 03-05 PAW-15-05 REPO P & I 6.0000 04/15/05 Ma HOME LOAN MEG CCRP•510110 312827DP1 6.0000 SERIES 228 CUSS 10 49.776.06 ISITS£00- 019- ANGS DUE 02/01/2035 6.000 NT R/D 03-05 AD 04-15-05 REPO P & I 6.0000 027 04230011124 001 V077 rn I8 IJ p.2 00 EFTA01260486 CillaID non. n wny csorco IMPSUAlre OFFICE SERVICNG YOUR ACCOUNT Ow. Sin Sneer 0 Bear. Steams & Co. Inc. Ore Weno, On Nth BEAR 383 Madison Manua New Yolc New Yak 10179 11201.3654 STEARNS FINANCIAL TRUST CO INC 21 0, STATIEnt PEC000 April 1. 2005 TinOm WI 29.2005 Transaction Detail (continued) Kent int nAnit mime, On tile LAST 51Antatia Math 31.2005 INTEREST (continued) OM CESCRIPTODI SYPSOLCUSP GUMMY SATE I% OEM MOM MDR Aitlira 04/15/05 PDX NOME LOAN 1MG C,CaprS i D110 31282W:01 6.0000 48.776.08 SERIES 228 C1145510 DUE 02/D1/2035 6.000 INT P.43 0.3.0S PM 04.15-05 0 04/15.05 REPO P 61 6.0000 FIDE HOLE LOAN RIG C015.0510110 SERIES 228 PASS 10 312821DPI 6.0300 48.776.08 DUE 02/01/2035 6.000 -n 04/20,05 NTEREST PAYMENT 04-1505 GOvERNAWN NATIONAL MEG ASSN SERIES 2014-5 CLASS PS 383748087 4.1003 14,691.67 C DUE 02020/2033 4.100 INT RIO 0105 P/D 04.2005 rn 04/20/05 REPO P & I 4.1000 GOvERINIENT NATIONAL MEG ASSN San 2004-5 CLASS PS 363748067 4.1000 60.133.33 DUE 02/20/2033 4.100 NT RFD 03.05 RO 04.20-05 REPO P & I 4.1000 0412005 GOVERNMENT NATIONAL INTO ASSN 383741067 4.1000 75409.11 SERIFS 2004.5 CLASS PS DUE 02/20/2033 4.100 NT RID 03-06 P1004.20-05 r 04/25/05 REPOP &I 41000 FANME WE GAO/SERFS 200113 31392/01(2 5.1500 113415.89 S RCR-143 FIER DUE 03/25/2013 5.150 INT Re 03.05 P/D 04-25-06 REPO P & I 5.1500 04/2905 FEDERAL NATIONAL 1.00 ASSN 31393C201 4.1500 46.088,05 SERIES 2003-49 CUSS SW ZSITS£00- 019- ANGS DUE 01/25/2033 4.150 MEREST PAYMENT 04-25-05 CCP O4 &1104 ON All ITT I Sb.) IJ 00 oc —J EFTA01260487 CWAS.0 OW/Cm IS Taal QY\£ S./ worn OFFICE SERMONG YOUR ACCOUNT Mr. Sitahu Swan Cae9 BEAR Beat. Stearns 8 Co. Ire. 383 Madison Avenue ciyy uyedyth C*tw Taw to 11701.1859 STEARNS • Ork 10179 FINANCIAL TRUST CO INC 12 STATTACHT PIRO.) AO 1.2005 Threctrar Apra 7.2001 Transaction Detail (continued) ACCOUNT waft a TA1PAYM PNAJOEN INTEREST (contrium) LAST STATE:We !larch 31. 2C05 OAR OESCRIPMN OUNITITI MN (%I 91tlf ARCurit triton MOEN/ 04/25/05 FEDERAL NATIONAL MTG ASSN , irC104 5.0000 SERIES 353 CUSS 2 79.179.47 Dom 07/010034 5.00) Ft/D 03-05 PO 04.25.05 REPO P 5 I 5.0000 0 TOTAL 5646.82143 z REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear, StearnS& Co.Inc. m SETT/DAM TIUM MIT ramE TEMSACT/71 0110071191 mmeoLCPAIP Comm C OBIT MOS4T Moo n.o,a m 04/01,126 DELIVERED UNITED STASES TREASURY NOTE DUE 12/31 3.000 9128280f4 -50.030.000 49.875.030 .00 z 3.000 CU 1 E/2006201/03 HEM F0800899 A2 TEAM RESALE AGREEMENT 0401/05 H RECEIVED uraTED STATES TREASURY NOTE DUE 03/31/2007 3.750 912828003 80.000.000 8D.000030.00 3.750 DUE 03/31/07 FITIA F0910 7 RESALE AGREEMENT' r 0491/05 INTEREST uNDED STATES TREASURY NOTE DUE 17/31/2006 FM F0603899 A2 3.000 912828DF4 37.752,80 RESALE MEREST 0404/05 JOURNAL FEDERAL NATIONAL MG ASSN 3136FC8C9 677.782 SERIES 346 CLASS 1 DuE 11/01/33 mm F0873354 A2 TERM REPO AGREELENT E8TTSEOCIAID- ANGS 0004105 JOURNAL FEDERAL EAMON. MTG ASSN 313/10809 -877,782 473.000.00 SERFS 346 CUSS 1 DUE 11/01/33 FDA F0943341 Al REPO AGREEMENT 027 04/3005:1124 ap1 1977 I8 IJ IJ OC OC /.// EFTA01260488 GUAM *ROUGH ITS »CU. OveeD SullSOWly OFFICE SERVICING YOUR ACCCunn Mt Sierra Seculit Cara. Bear. &earns t. Co. Inc. BEAR 363 medison ~Rue 10179 Cot Meracch livele Nn Lvaser. W. Tat 112014519 STEARNS UW E GOING 23 rr STATEMENT PER+00 AD-L 1. 2005 THRouGm Aril 29. 2005 Transaction Detail (continued) Accevc WAGER TAXPAYISC ~ER OS Fie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (CODLiDU410) LAST STATZmerit March 31.2005 1L1Ø MAP PAIL DAZE IIMICSAC11011 DUOIIPI1CM 5-TWOOLCuSa. Ø man Mean CREW MOUNT 04408105 JOURNAL FEDERAL MEOW. 1414 ASSN 313ESC8C9 1417.805 SERIES 346 CLASS 1 DUE 11101133 FDM F0803161 A2 0 04~06 JOURNAL TERM REPO AGREEMENT FEDERAL NADDNAL MEG ASSN SERIES 346 CLASS 1 3136FEJ3C9 -1.0191333 DUE 11/01/33 -n RDA F0983224 Al REPO AGREEMENT 04/08105 JOURNAL FEDERAL ALAITONN. AUG ASSN 3136FCBC9 428,471 297.000.00 SERIES 346 CUSS 1 WE 11/01/33 ARM F0983226 Al in 0410895 JOURNAL REPO AGREEMENT UNITED STATES TREASURY NOTE MA F0810394 A2 91282801.4? 30.000.030 28.000.000.00 4.000 DUE 02115115 TERM REPO AGREE1AENT 0~1/05 JOURNAL WEED STATES TREASURE NOTE 912828DM9 -70.000.000 67450.000.00 FnM /0981088 Al 4.000 CUt 02/11,15 REPO AGREEMENT r 04108106 MEREST UNITED STATES TREASURY NOTE CUE 02,15/2015 FM F0810394 A2 &COO 9128280/19 22.200.03 REPO INTEREST 04/11/06 JOURNAL FEDERAL NATIONAL MEG ASSN 3136FAWEIS -15.359.406 10.583.000.00 SERIES 329 CUSS PO CUE 01/01/33 STRIP FITM F1013193 Al P8IISE00- lA19- ANGS REPO AGREEMENT Or/ OCIOOlc1124 COI veTT En 8 IJ --J EFTA01260489 CLEAN, 13.Ra.Cim rts AWAIT CATT.E0 OFFICE SERVICING YOUR ACCOUNT Bear, Steams b Co. Inc. St.. STpreT Se0sPas Co BEAR 383 Macbon Avenue littrokyn Cava NonA Reg 11201.3059 STEARNS New Yak. New Tat 10179 FINANCIAL TRUST CO INC 24 c4 3? EATERENT Pcre00 Apnl 1. 2005 11.00003. Apil 29. 2005 Transaction Detail (continued) ACCOLITT Nuuetri TAXPAYER MAWR C.1 FW REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEMPR 1032313 31,2005 SE1110.41213 MIX DAR BATE 1RAMA01011 DESCRPTION SYM00.02.1P 1111ANTEV DOW MOUNT 519ECIT AMOUR 00 1J05 JOURNAL FEDERAL NADONAL MTG ISSN 3136FAMS 15.359.406 10.583.000.00 SUES 329 CLASS PO CUE 01/01/33 STRIP 0 04/11/05 JOURNAL SUM 11013193 A2 REPO AGREEMDH FEDERAL NATICMAL MIG ASSN 3136MWE6 -15.359.808 10.583.000.00 SERIES 329 CLASS PO -n DUE 01/01/33 STRIP EOM 11013193 A3 REPO AGREEMENT C 04/11/06 JOURNAL FEDERAL NAICMAL MFG ASSN SERFS 329 CUSS PO 3136FAVIE6 15.359.406 11,902,000.00 rn DUE 01,01/33 STRIP FIDA 10133284 Ai z 04111/05 JOURNAL TERM REPO AGREEMENT FEDERAL NATIONAL WIG ASSN SERFS 346 CUSS 1 313SFC9C9 1.069.333 DUE 11/01/33 FRIA F0903224 A2 TERM REPO AGREEMENT 04/11/05 JOURILN, FEDERAL NATIONAL WC ASSN r SERIES 346 CLASS 1 DUE 11/01/33 FIN 10983226 AZ 3136R8C9 428.471 297.00000 TERM REPO AGREEMENT 04/11/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FC8C9 5.083.557 3.808.000.00 SERIES 348 CLASS 1 DUE 11111/33 FRM 10733338 Al TERM REPO AGREEMENT SSITS£00-019-ANGS 0411/05 JOURNAL FEDERAL NATIONAL IMO ASSN 31313110803 4.601.382 4,553,000.00 SERIES 346 CUSS 1 DUE 11/01/33 Frt/A F1013195 Al REPO AGREEMENT 027 044004.11:24 001 Yin I8 b.) 1.2 00 --J --1 EFTA01260490 MIMEO THR01.014 NS %MOLL OVAtlf OFF/CE SERVICING YOUR ACCOUNT WI. Stare Soarien Cap. Mac Steams & Co. Inc. IN histuoth Wee Rath BEAR 383 MadImo Avenue New York. New Yak 10179 Ms Tel 112014859 STMRNS FINANCIAL TRUST CO INC 25 M11 STAMEN' PEAKO April 1.2005 T oN Apill 29.2005 Transaction Detail (continued) A00.04,41 MAUER TWAYER NIJIMEA On Ft REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (centrum* uksT sTArtwo/T MVO, 31.2006 SUMMER, OM TR DATE AM mANSACION CtSCRIPICN Sea016151P mem DORI MOM CREW AMOUR 04411/05 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374F067 -22.100.030 2.142.000.00 SUES 20044 CLASS PS 4.100 DUE 02/20/33 FILM 11013191 Al 0 04/11/05 JOURNAL REPO AGREEMENT GOVERNMENT NATIONAL WC ASSN SERIES 2004-5 CLASS PS 38374/087 22.100.000 2.601.000.00 4.100 WE 02f20/33 -n 04/11/06 JOURNAL DMA F0133269 AZ TERM REPO AGREEMENT FEU HONE LOAN MTG CORP4110109 31282YON6 11.113.178 SERIES 227 CUSS 10 5.000 DUE 12/0144 RDA F0823314 A2 rn 04/11/05 JOURNAL TERM REPO AGREEMENT Mt HOME WAN MI6 CO03.510109 SUES 227 CLASS 10 3128200N6 4309.622 5.000 CUE 1201/34 NW 11013201 Al REPO AGREE...MT 04411/06 JOURNAL FEU HOME LOAN 1.416 CORDPS10100 31262VON6 4)353.556 1.143.000.00 SERIES 227 CLASS /0 5.000 DUE 12401/34 WM F1013199 Al r 0441145 JOURNAL Rut AGREEMENT RU NOME LOAN MI6 CORP/1510110 31202Y0P1 4.419.606 1.965.000.03 SERIES 228 CUSS 10 6.000 DUE 0201/35 ATM F1013189 Al REPO AGAWAM' 04/11/06 JOURNAL FEU NOME LOIN MTGCORPOS10110 312821tri 9.419.608 2.018.000.00 SERIES 228 CLASS") 98ITS£00-019-ANGS 6.000 DUE 02/01/35 FILM F0813166 A2 TERM REK,AT.DFFMENT Ett7 04006011:24 001 VIE? EFTA01260491 CIFAPED 11440‘iiim RI NWµLY Ownk., SUISC5ARY OMFE( SERVICING YOUR ArnouNT Begir. Szeams 6 Co. Inc. lear Sara 5~ On. BUR 383 Madison Avenue Co. ~Dr Caf /in brtot/r. 111.. bit 112014559 STEARNS ailliffir 10179 FINANCML TRUST CO INC 26 or 3, STAMIEST MOD Apl 1.2005 riera)0/4 Am 28.2005 Transaction Detail (confinued) Wv - a ru/ryrt/k ~am On rik REPURCHASEAND REVERSE REPURCHASETRANSACT1ONS (cordinuod) LAsT STAMILW LIfech 31.2005 snus% TRIM GIE DATE IRAIRACTON OESCRII5101/ Stra0u044P awann, Dua ~al C11011T 41.13001 04/11105 INIEREST ITDERAL NATIONAL TAM ASSN 3136FAWE6 83.208.20 SD2ES 129 CLASS PO STRP DUE 01/01/2033 0.000 EIM F0133284 AZ 0 04411/06 LINEREST REPO INTEREST FEDERAL NATIC8ML UTGA.% 3136FC8C9 77.22 SERIES 346 CULSS 1 DUE 11/01/2033 0,000 FM 40983226 AZ REPO INTEREST 04/11/05 INTEREST FEDERAL NATIONAL MIG ASSN 3136PCBC9 8.474.79 SERES 346 GLASS 1 DUE 11/01/2033 0.000 TIDA F0733338 AL REPO MTEREST z 04411105 VIEREST GOVERNMDD NANO« MM ASEN SERIES 20044 CUMS PS C« 02/20/2033 EIDA F0133269 AZ 4.100 383741067 M 18.183.88 REPO INTEREST 04,11105 P&IST FEER HOME LOAN MIG 001191510110 31282717P1 3.206.38 SERES 228 CLASS 10 r DUE 02/0112035 FIN F0813168 AZ REPO INTEREST 6.000 04/13105 JOURNAL litt NOME UNN MTG CORP4M10109 312821%6 &309.622 SEINES 227 GASS 10 5.030 DUE 12251/34 FILM F1013201 A2 TERM REPO AGREEMENT 04413105 JOURNAL ML RC« LOANAITG CORP•510109 3128211»16 -3.882.844 LSITS£00- IA19- ÅNGS SERIES 227 CLASS P 5000 DUE 12/01/34 EMA a F1033277 Al REPO . ....... 027 0~05.1114 001 5177 In I 8 IJ IJ —J EFTA01260492 CLIJALD TriltOuGkt ITS ?MOLLY ~CD StiLSOW1, OFFICE SERVICING YOUR ACCOUNT Be. &en Stanin Ø. Bear. Steams & Co. Inc. BEAR 383 Mnfr.on Avenue 00. IMpTotiKS ~et ~II 15~ New Ot 20 5 STEARNS IIMMNPON~II FINANCIAL TRUST CO INC 27 an STATEMENT P111520 Pal 1.2005 TIROUCH Ape2 29.2005 Transaction Detail (continued) 450311.41 14Liatft Iffiffil i'MPAYert ....Metft REPURCHASE AND REVERSE REPURCHASE TFtANSACT1ONS (coninued) vat *unveil Math 31.2006 SETTIALERT TUX DAR CAR TRANSACT:54 DESCREPTION svveCuCuLar ~aft KW ALCM =Al AMCOR 0013/05 JOURNAL TIDE HOME LON, MTG CORNIS10109 31282YON6 .2.426.7713 556.030.00 SERIES 227 CLASS 10 5.000 DUE 12)01/34 FITM F1033272 Al REPO AGREEMENT 04/13/06 RECENED UNRED STATES TREASURY NOTE 912828000 GOA:CO.0C° 60.300.000.00 CUE 03/31/2007 3.750 3.750 DUE 03/31/07 REM F1030963 Al -n 04/13,05 DELNERED RESALE AGREEMENT UNITED STATES TREASURY NOTE DUE 02/31/3007 3.750 912828000 40.0~0 80.000.00000 3,750 DUE 03/31/07 FIIAI F0910697 AZ rn CAM 3105 MEREST TERM RESALE AGREEMENT UNTIED STATES TREASURY NOTE DUE 03/3112007 3.750 912828000 66.555.56 MIA F0910697 A2 RESALE INTEREST 0414/05 JOURNAL FEDERAL RATIONAL WIG ASSN 313131CLD6 -18.763.230 3.500000.03 SERFS 353 CLASS 2 5.000 DUE 07/01/34 MI F1043221 Al REPO AGREEMENT r 04/14)05 JOURNAL FEDERAL KATMAI MS ASSN SERIES 353 CLASS 2 3136FCID6 18.763.230 4.429.00000 5.000 DUE 07/01/34 FRIA F0893160 86 TERM REPO AGREEMENT 0414/06 MEREST FEDERAL NATTONAL MTG ASSN 3136FC106 5.628.52 SERIES 353 CLASS 2 CUE 07/01/2034 5.000 881T5£00- lA19- ANGS MI F0893160 86 REPO MEREST 027 01/3005c1124 001 a?? In I 8 b.) IJ 00 O EFTA01260493 CAUSED 11010L01 rs WACILY Onta0 37.03.1piAltY OFFICE SCRAP% YOUR ACCOUNT Beat. Steams & Co. Inc. Om. Stamm Sr:07bn Cap. BEAR 383 MadSon Avenue Cat lAnster.A Cad, 'lath OrpolIrk New ',Oft 11201.3559 STEARNS rk 10179 FINANCIAL TRUST CO INC 28 of STATEuSST PEACO Api 1.2005 n740.047 NA 29.2005 Transaction Detail (continued) ACCO.MT MAW TAAPAVER —S REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST SUMMIT latch 31.2005 SETTLBOT TRADE OATS OATt muisicToR OESOCIPI1ON SOMOUCUSP CILLTAITITY COST AIMS at MT MOUT/ 04/15/06 XXIIINAL FEDERAL NATIONAL WIG ASSN 3136FAWDS -15.850.794 11,174,000.00 0 SERIES 329 CLASS PO DUE 01/01/33 STRIP 0 wnstos JOURNAL HIM FI053431 Cl REPO AGREEMENT FEDERAL NATIONAL IFTG ASSN 3136FAIVE6 15.850.794 11.249.000.00 SERIES 329 CLASS PO DUE 01/01/33 STRIP E I HIM T0753215 82 TERM REPO AGREEMENT 04/15/05 JOURNAL FEDERAL PuliONAL WIG ASSN 3136FIX06 18.763.230 3.500000 .00 C SERFS 353 CUSS 2 in 5,030 DUE 07/01(34 FRIA F1043221 AZ TEAM REPO AGREEMENT 04/15/05 JOURNAL FEDERAL NATIONAL MFG ASSN 3136FE106 .18.76%230 4.211.033.00 SERIES 353 CLASS 2 5000 DUE 07/01/34 MA F1053431 At REPO AGREEMENT 04/15.05 JOURNAL FIDL HOME LOAN ING CO04,510110 3128211Ni .9.419.606 r SERIES 6,000 ttlE CLASS ID 22802/01/35 FEW F1053472 Al REPO AGRE111/0/T 04/1905 JOURNAL FEDL NOME LOAN MFG CORDP510110 31282V0P1 9.410.606 100.CC0.03 SERIES 228 CLASS D 6.000 01/35 FIlM WEF010 93 2/160 AT TERM REPO AGREEMENT 68TTS£00- 019- ANGS 04/15/06 JOURNAL ME HOME IOW TATG CORP•510110 312B0DP1 9.419,606 1,955,030.03 SERIES 228 CUSS IO 6.000 DUE 02/01/35 rim FI013189 A2 TERM REPO AGREEMENT 017 04130/05:11.24 001 NT/ rn 8 b.) 1.2 00 *S. 00 EFTA01260494 CLIARLO THROUGH as 1040Liy OWNED SUMMARY OFFICE SERVICING YOUR ACCOUNT OW Stan C010 Saar. Steams 8 Co. Inc. Ono MatttnA en Non BEAR 383 Madsen Avenue New York, New Vat 10179 A. Nes An 112014050 STEARNS NCIAL FINA TRUST CO INC 29 our STATVAINT PN1000 AO 1.2005 Tntann Api 29.2003 Transaction Detail (continued) COUNT µAMR TAAPAYEA Nunn' On FIN REPURCHASEAND REVERSE REPURCHASE TRANSACTIONS (centOutd) tan STATZWENT Minh 31.2005 =Wet 140E art OAR NONSACIION OISCRIMON SAIKILCUSIP ONVIMY MN/ AMOUAT CRLO1 AMCON1 5105 JOURNAL Mt NONE LOAN MTG CCANIS10110 31282YDP1 9.419.606 2.013.000.00 Sala 228 CUSS 0 6.000 DUE 02/01035 FEN F0753215 A2 0 04/15/05 !MUM TERM REPO AGREEMENT FEDI HOME LOAN MTG COPPES10110 SERIES 228 CLASS 0 31282O01 .18.839.212 3.665.000.00 6.000 DUE 02/01/35 -n 04.05.05 MEREST FRIA F105343181 REPO AGREEMENT FEDERAL NATIONAL MO ASSN 3136FAWE6 28.401.20 SERIES 329 CLASS P0 C STRP in DUE 01/002033 0.00D FRIA 10753215 8: REPO INTEREST z 04t15/05 MEREST FEDERAL NADDIMA. LOG ASSN SERIES 353 CUSS 2 DUE 0101/2034 mu F1043221 AZ 5.000 31360:1176 296.53 REPO INTEREST 0411505 MEREST FEOL NOME LOAN LOG CORP4010110 31282YDP1 135.56 SIMS 228 CUSS 0 r DUE 02A31/2035 FIIM F0893160 AZ REPO INTEREST 6.000 0015/05 MEREST FEDL HOME LOAN MEG CORPOS10110 3128211.1 679.91 SERE 226 CLASS 0 DUE 0201/2015 6.000 FITM F1013189 A2 REPO INTEREST 0411506 MEREST FEDI. MIRE LOAN MIS CORPAS10110 31282YDP1 5,082.82 06TTS£00- 019- ANGS SERIES 228 CUSS 0 CUE 02/01/2035 6.000 FRIA F0753215 A2 REPO MEREST 071 04901000114 ODl 5/977 rn 8 b.) 110 00 00 00 I•L) EFTA01260495 CAL/UND THAOJOn Rb vnaly 0000) SueSOPAY OFFICE SERVICING YOUR ACCOUNT Boar. Steams & Co. Inc. Sap. Sterns Stones Cap. BEAR 383 Madison Avenue Pareettch Pena Now e,o@q, WA Vol 11201-3551 STEARNS New York, New York 10179 FINANCIAL TRUST CO INC 30 e STATvArm, PAR100 AprA 1.2005 THROCCAl Apt 29. 2005 Transaction Detail (continued) ACCOLIAT AMAIN TAYPAYEll NUMMI. OA Fie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STAPDApe 1A.WCh 31, 2005 51190400 MOE CAN DATE IRFASIRTION CESCPANDOI 3049300.69 Dwarf 0011 WOW CREW Al10.10 041605 JOURNAL UNITED STATES TREASURY NOTE 9120230M9 70. 00.000 67.550.000.00 MA F0981066 it2 4.000 DUE 02/15/15 C) TERM REPO AGREEMENT 0 04/18)06 JOURNAL LINED STATES TREASURY WEE EOM F1080552 Al 4.000 DUE 02/15/15 REPO AGREEMENT 9128280M9 45.003.000 74.062.500.00 -n 00605 !MEREST MATEO STATES TREASURY NOTE Dix am snoi s MA F091310038 A.2 REPO INTEREST 4.000 9128280M9 32.949.39 C 04/19.106 JOURNAL UNITED STATES TREASURY NOTE 9128280M9 rn 40X00.003 59.100.000,00 RDA F1050749 Al 4.000 DUE 02/15/15 REPO AGREEMENT 04/19/05 JOURNAL LIMED STATES TREASURY NOTE 9128280009 75.000.000 74.062.500.00 MA F1080552 A2 4.000 DUE 02/15f15 TEAM REPO AGREEMENT 04/19105 INTEREST UNTIED STATES TREASURY NOTE 9128280819 822.92 CUE 02/15/2015 4.000 r 04/20236 °ANAL MIA F10030552 A2 REPO INTEREST FEDERAL NATICTIML MTG ASSN 3136TOtal 40,311.170 K539,000.00 SERIES 352 CLASS 1 0.001 DUE 07/11/34 RDA F1103171 Al REPO AGREEMENT 04/20/05 JOURNAL FEDERAL NATIONAL AUG ASSN 3136FCICC9 20.311.170 14,539,030.00 SEWS 352 CUSS 1 T6ITS£00-019-ANGS 0.001 DUE 07/01134 FTTM F11O3171 A2 REPO AGREEMENT on 0400106M44 091 1977 rn 8 b.) 0.0 00 00 EFTA01260496 MUSED THROUGH RS %HOLLY Pee SOSSCWW OFFICE SERVICNG YOUR ACCOUNT Siner4 Secufles Corp. Bear. Steams b Co. Inc. N BEAR 383 Madison Avenue New Yak. Now York 10179 Ore *grouch Grin Proclaim Ht. vat 111.01.1109 STEARNS FINANCIAL TRUST CO INC 31 ti SYMIsientP0900 /..9.1 1,2005 THROLGH Apal29. 2005 Transaction Detail (continued) ACCOUMstNISER TmemPER ,w904 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LASTSTATIWNI match31. 2005 SETIMMOR ▪ MR OM(• MMISCTION OESCRIPTCH SAMOUOS• OUMME, OHMMOHR GRIMMOW 04/20/05 JOURNAL FEDERAL NATIONAL MEG ASSN 31300(C9 .20.311,170 14,660.000,00 SERIES 352 CLASS 1 0001_ CUE 07/01/34 FMA F1103171 A3 O 04/22/05 10UP/44. REPO AGREENDIT FEDI. KEE LOAM MG EORPOS10100 SERIES 227 CLASS 0 31292YDN6 -8.251.045 1.837.000.00 5.000 DUE 12/01/34 -n 04/2205 JOURNAL MIA F1123242 51 REPO AGREEMEM FEEL HOME LOAN ME CORPOS10109 31282YDN6 8.251.045 2,032,000.00 SERIES 227 CUSS 10 C 5,000 DUE 12/01/34 FILM 10623312 AZ rn TERM REPO AGREEMENT z 04/22/05 JOURNAL FOOL HOME 1.0.01 NM CORPAS10110 31282Y0P1 9419.805 SERIES 228 CLASS 0 6,000 DUE 02/0105 FMA F1053472 A2 TERM REPO AGREEMENT 04/2205 JOURNAL Fat NOME LOAN NOG CCOPeSiOn0 31282YDP1 4.593.724 SERIES 228 CLASS 10 9000 DUE 0201/35 r 04/22/05 JOURNAL FTFM 1112324 Al REPO AGREEMENT FED( HOLE LOAN MG CORP•M0110 372.11210P1 .2.525.851 521000.00 SERIES 228 CLASS 0 5,000 DUE 0201/35 FILM F1123242 Al REPO AGREEMEM 04/2706 JOURNAL UNITED STATES TREASURY NOTE 9128280119 -50.000030 49.062.500.00 MU F1120858 Al Z6ITS£00-019-ANGS 4.000 DUE 02/15/15 REPO AGREEMENT 04/22105 JOURNAL UNITED STATES TREASURY NOTE 9128280149 80.000000 59,100,000.00 nne F1090749 A2 4.000 DUE 02/15/15 TERM REPO AGREEMENT 037 04.009050124 001 q11 IJ rJ 00 00 .F- EFTA01260497 0-‘7379D 7147.0t43. r3 399C7.3:f 0073.190 SuSSCLAIre OFFICE SERVICANG YOUR ACCOUNT Beat. Steven & Co. Inc. Sow Stan Staritos Cap. BEAR 3B3 Madison Avenue Cr* lietottp 0377.9 99111 3930,0r. Nay et 20 1(359 STEARNS New York, New Wyk 10179 TRUST CO INC 32 a 37 99.9971977 PEFOCO April 1. 2005 TititC4:99 Aped 29. 2005 Transaction Detail (continued) AP0CUPET PINUP TOIMYCA MAMA Cn Pie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (Continued) LAST siereteirt Myth 31.2005 SETIMA(141 MAX OAK OAR nummacei or.SeRP1101 SYme0Xuste Mawr/ ow MOST CAEN MOW 04/22/05 WREST FEW. NOME LOAN MEG CORP4510109 31282YDN6 3,471.33 SERIES 227 CLASS 0 WE 12/01/2034 4000 REM F0823312 AZ 0 04/22/06 INTEREST REPO INTEREST WEED STATES TREASURY NOTE DUE 02/15/2015 4.000 9128280M9 7,633.75 Fnm means n -n WO INTEREST 04/2510S JOURNAL GOVERNMENT NATIONAL MEG ASSN 38374FDB7 4.300.000 SERIES 20044 CLASS PS 3.960 DUE 0200/33 FITM F0883205 A2 TERM REPO AGREEMENT in 04/2405 JOURNAL GOVERNMENT NATIONAL MTG ISSN SERIES 2004 5 CLASS PS 3.960 WE 022033 38374F087 -26.400.CCO FILM F1153278 Al REPO AGREEMENT 04/25/05 JOURNAL GOVERN/ER NATIONAL MEG ASSN 38374F087 22105.000 2.142.000.00 SERIES 2004.5 CLASS PS 3,960 DUE 02/20/33 FII/A F1013191 A2 r 04(2545 JOURNAL TWA REPO AGREEMENT FEM. KM LOAN INTO WIPIPS10109 SERIES 227 CLASS ID 31282)13/16 3,802.844 5.000 DUE 12/01/34 MA F1033277 22 TERM REPO AGREEMENT 042.5.05 JOURNAL FEDI HOW LOAN WO CORPAS10109 31282W46 -1.456066 SERIES 227 CLASS 10 5,005 WE 12001134 E6ITS£00- 019- ANGS FITM F1153282 Al REPO AGREEMENT 027 04/30104Eil:24 001 Lim En I8 IJ IJ 00 00 00 EFTA01260498 CLIMES TROUGH ITS voNCto Oman Su'SWAT OFFICE SERVICING YOUR ACCOUNT Sac Sawn Sturifin Cap. Bear. Stearns & Co. Inc. QM Meinttech fn NOM BEAR 383 Madson Avenue New York New York 10179 Brost" kt Yon 11201.3159 STEARNS FINANCIAL TRUST CO INC 31 ct SUMMIT PCROO Api 1.2005 Tm110u011 *1 29. 2005 Transaction Detail (continued) ACCOUNT Nan TAsPAYea MAW On rue LAST STATWEra WO 31.2005 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (cortlnued) St111040a TRAM an OM 19AXSACTON ccsoevnow STIAICYCLISIP OUAIMIT Dun MASINI OW merit 04/25105 JOURtMl. FEDL MAE LOAN WIG CORPeS10109 31282YDN6 .2.426.778 536.000.00 SERIES 227 CLASS 0 5.000 DUE 12/11134 ATM 11153280 Al 0 04/25,05 INTEREST REPO AGREEMENT GOVERNAENT NA11:014 MEG ASSN SERIES 2004-.5 CLASS PS 38374FD87 2.807.29 DUE 02/2042033 3.960 -n 04/28/06 RECOVED FIRM F1013191 A2 REPO INTEREST UNITED STATES TREASURY NOTE 912828030 60.060800 50.375003 .00 DUE 0351/2007 3.750 C 3.750 DUE 03/31/07 in FM F1181007 Al RESALE AGREEMENT z 04/28/05 OELNEREO MATED STATES TREASURY NOTE 912828000 -80.030.000 60300.030.00 DUE 03/31/2007 3.750 3.750 CUE 03/31I07 FIRM 11030963 TERM RESALE AGMEDADIT 04128/05 INTEREST UNITED STATES TREASURY NOTE 912828000 59.Z28 .00 CUE 03/31/2007 3.750 ATM F1030963 A2 r 042805 JOURNAL RESALE INTEREST tRITTED STATES TREASLMY NOTE 913828010 50.000.000 49.062.500.00 FIRM 11120858 A2 4.000 DUE 02/15215 TERM REPO AGREEMENT 04/29106 JOURNAL UNDIDSTARS TREASURY NOTE 9128280/19 40.001000 59.403.000.00 FRIA 11190951 Al 44100 DUE 02/15./15 Remo V6ITS£00- 019- ANGS AGREEMENT OUTROS DEINERED UNTIED STATES 1PEASURY NOTE 912828000 -50400.CCO 50.375.000.00 DUE 03/31/2007 3.750 3.750 DUE 0301/07 rind F1181007 A2 TERM RESALE AGREEMENT 027 04/30“:11:24 031 WO/ 8 b.) IJ 00 sa'• 0 EFTA01260499 CLEARSO 79(ROUCAT ITS NrolOtty ETANCO SLISSMARY OFFICE SEFMCD/G YOUR ACCOUNT Bear. Steams & Co. Inc. Des Seam Semmes 009. BEAR 383 Madeon Avenue Out 11•03333 C INNS Ow*" Nn Yin 11201.3359 STEARNS Now York. New York 10179 FINANCIAL TRUST CO INC 34 Or STAMEN, PENOO April 1.2005 rmitOVON Apni 29. 2005 Transaction Detail (continued) ACcotATT NUMBER tomAYTR NuTiBER REPURCHASEAND REVERSE REPURCHASE TRANSACTIONS (ccnolnum) LAST mincer Mall 31.2005 SETTLIIMINT TRADE DAR DATE Maxim DESCRIPMN STILGOLCUSP CALMITITT DUO MOM OWE AWAIT 04/29/05 INTEREST UNITED STATES TREASURY NOTE 912828Dom 19.109.12 DUE 02/15/2015 4.003 FITM F1120958 AZ REPO INTEREST O 04/29/05 MEREST RATTED STATES TREASURY NOTE DUE 03/31/2007 FRU F1181007 A2 3.750 912928000 3.668.18 RESN1 INTEREST -n TOTAL 1-542459.144x1 $630)27.202-11 MISCELLANEOUS C in DATE 1109.0 04/01/05 19.43334104 JOURNAL DESCRIPros TO MY NC 021.5212841 DONT mama 301,525.00 CREW MORN' 0.4107/05 JOURNAL TO MY NC 021-5212841 288.806.75 04/09/05 JOURNAL FR MDT NC 021.5212941 61.362.50 04111/05 JOURNAL FR MDT= 0214212841 118.787 40 r 04/12/05 JOURNAL EulAA-30YREFMTAJOTO SETT1W05 6.030 DUE 04/01/15 MIS NET 04112175 290.625.00 0413105 JOURNAL IAAR 05 SPEC CLEARING FEES 9.150.00 04/13105 JOURIal FRAM 30YR GTD 554482.81 SETT. 04/05 5.000 CUE 04/01/35 S6ITSEOCIA19-ANGS MRS NET 04/13/06 04/13/05 JOURNAL FNMA 30YR MD 229.135.03 SETT. 04/05 5.500 DUE 04/01/35 MRS NET 04/1305 040606:1104 001 1,977 Tn I8 b.) 1.2 00 00 0J EFTA01260500 CLEARED THROWN ITS "MOLLY 0k SUSSOIARY OFFICE SUNCIW YOUR ACCOUNT Rut Nen Stailsas Ceep. Bear. Steams & Co. Inc. BEAR 383 Madison Avenue • 10179 Ono Idlioatich by NN0 tostp. Mee Tot ItZ01.3069 STEARNS FINANCIAL TRUST CO INC 35 CI], ermwery IEaw0 Mal 1.2005 21120110H API 29.2005 Transaction Detail (continued) ACOOIPIT waNER TWAYETI roast On Re MISCELLANEOUS ((:o0UlL VAT STATLIIIIIff IAN& 31. 2005 POT LOWY TRAIISCION MUSSON Cart AIA01MI CREDIT Mama 04/14/05 JOURNAL TOCMDY 1./C 021-5212841 319.187.50 0411484 OEINERED FILM PG0021347338 700.000.00 0215212820 0 FANNIE MAC STMP POOL 0021445 COUPON 5.0000 FINANCMG NET PAMOFF OFF 04/1405 KUM FECCRAL NATCNAL ISM ASSN 7030.000.00 -n SERIES 353 CLASS 2 5.030 DUE 07/01/34 DUE07/01(2034 NW PG0021347364 5.000 0215212820 C PANNE WE STRIP P001.0021445 COAON 5.0000 rn 04/15105 MOM FNIAA.15YRVARA.015/0TO SETT.04/05 4.500 DUE 04101/20 125.000.00 ASS NET 04/15105 "4/1805 JOURNAL TO CNOY NC 0214212041 345.0137 .50 O4/1805 a p4A445YRITNMA-151GTD 221.815 .00 SET1.04/05 5.500 DUE 04/01/20 r 04/20/05 RECENT)) mBS NET 04/18/05 FIEDERN. NATIONAL MTG ASSN SERFS 352 CLASS 1 121.000.00 0.001 DUE 07/01/34 DUE 0701/2034 0.001 ITN P00021452178 0215212820 FANNIE LIRE STRIPS POOL 0021422 COUPON 0.0000 96ITS£00- 019- ANGS O27 04/300501:24 001 V877 8 b.) b.) 00 00 00 OO EFTA01260501 =ARLO 11413038 nS Mare DATED SuBSOANY WEE SERVICING YOUR ACCOUNT Beef. Stearns b Co. Inc. Am Sten Wadi Cap. BEAR 383 Mackson Avenue Now York. New York 10179 &e le0091O11 Cater North beats. Nee Ur( 11201.3 S STEARNS FINANCIAL TRUST CO INC 36 ulr STAIDeprr PERKO Aga 1.2005 wmouGH Apri 29.2005 Transaction Detail (continued) ACCOUrfr NUYSTA TPA:PAYER Nan 00 The MISCELLANEOUS (continued) LAST STATION:NT WWI 31.2035 OAR 1I0CAF FRANSACTION Otscitsmon Olin MOM 01101 MORO cuncom DEMERS) FEDERAL NATIONAL MTG ASSN 121.000.00 SERIES 352 CLASS 1 0401 011E 07/01434 DUE 07/01/203A 0.001 0 414 PG0021452191 0215212820 FANNIE MAE STRIPS POOL 0021422 COLPON 0,0000 0442/05 JOURNAL REV care 2-9-05 30.973.04 k l 04/22575 JOURNAL 041REAS REBATE NO 2-9 30,973.04 04/22/05 JOURNAL FR C1/0Y KC 021.5212841 146875.00 C 04/27.05 JOURNAL FR CIAOY AC 021-5212841 in 042805 TOTAL JOURNAL TO May AC 021.5212a.ri 270.062.50 32.004.417.29 21.412.50 52.204993.35 r Trades Executed Pending Settlement SITI1DJENT AWE DAR PM TROISACICA DESCAPION 01.10180101 00.14111Y PAO DISC AWOLAT CA(117 .A.0011 05/02/05 04/27/05 BOUGHT GOVERNMENT NATIONAL MEG ASSOC 3/3740755 16,073,792.00 7.1562 1.099.671.62 SERIES 2004-041 CLASS SE CIE 05/20/2030 0987049814332 L6ITS£00- 019- ANGS REF 12005042757180000 BS 06/0706 002013.5 ROW UNRED STATES TREASURY NOTE 912828058 40.000.000.03 100.0546 50.037.194 .29 DUE 044042007 03.625% AO 30 0989:16192099 nue 3.596 %TO MATURITY GEER REF P G1181005 Al 027 0412004:11.24 031 WO? I8 1,4 IJ 00 00 00 EFTA01260502 Cif..0110 11001/3“ ITS ‘meta.v Ove40 *MOWN OFFICE SERVICING YOUR ACCOUNT BUR Bear. Stearns b Co. Inc. 383 Madtson Avenue Oct W. Sin Swum., Corp. Wevotsul Can. tearih mew York 11201.1159 STBSRNS FINANCIAL TRUST CO INC SIATELIEV roam erl 1.2005 maouce Apt 29.2005 ACCette YUMA Trades Executed Pending Settlement (continued) TAXPAVIlt MASER 01re WT STATEUENT imrea 31.2005 Str11.0410 MCC MR CAR 11WISCIION OCSCRS111011 SYNOOUCV90 01.1.00111, r cl CCM IMAM CAtECtl 11/0.1,0 05/1105 03/31/05 BOUGHT FNMA-30YRIMMA)GED 5A79993 20,000,000.00 97.4921 19.498.437.50 SET7.05104 DUE 05/01/20.34 050009 0987115514312 Far • 2005033157140000 85 0 05/12/06 04/12/05 9013147 DaYA-30YRIFNIIA)GID SETT.OSAM SA79993 20.0)3.003.80 98.1328 19.628562.60 DUE 05/01/2034 06.00091 m 0511206 04.0746 SOlD 0987016110332 REF S 2005041267300000 BS INMA.30YR8/11.4A)GTO 5079993 -40.000.000.00 97.9216 39.168.750.00 5E17.05/04 ci DUE 05.01/2034 05.03016 m 05/12/06 0313105 BOUGHT 098702101133 2 REF S 2005040757220000 SS FNIAA.30YR(n•AA)GTO SA82389 20.000.800.00 99.8906 19.978.125.00 SETT.05/05 DUE 0901/2035 05.500% 0987021011332 H REF • 2005033157150000 85 05)12/05 04/1205 8OUGH1 Fram.3011t019.1A/G10 5082389 20.000.0%1.00 100.3750 20.075.000.00 SETT.05/05 r OUE 05101/2035 05.50016 0981280211332 REF 0 20/5041257400020 BS 05/1205 04:07105 SOLD EN/41.30YRIFIEMACTD SA82381) 40.030 000.00 100.2576 40.100.12500 5E11.05105 DUE 05/01/2035 05.5009 0987021011332 REF • 20')504C7577*S000 85 TOTAL 8.8277.996.12 $129.309.8.92. 86TTSEOCIND- ANGS "...tow non do oC4 <Ma mace, Mrs wan.MM' OIOCN5:11M CO. ve77 IT1 8 IJ 00 EFTA01260503 uLµp not.O.G04 ootOu.v 0lo(0 81.090Wir OFFICE SERVICEM YOUR ACCOUNT Bra'. Stem SeCotte) cop Beat, Steams & Co. Inc. BEAR 383 Madison Avenue One Ittetotal Coot) Won Paw at 1'201 359 STEARNS New Met. New Yo'k 10179 FINANCIAL TRUST CO INC AOCCUNT EXECUTIVE GNMA GOVT BOND Stolloctr: orra00 Marth 1.2005 VISIT OUR MEW( wow.bearsteams.com 'mean)) March 31.2005 MOCOvoi aMACC What's In This Statement Moll...LIM Id TAXPore, LAST ro/TwEw1 kieutey 28.2005 Financial Summary 3 FINANCIAL TRUST CO INC VOW Portfolio Holdings 4 Ci0 JEFFREY EPSTEIN Transaction Detail 6 6100 RED HOOK QUARTER Trades Not Yet Settled 36 STE B3 ST THOMAS VI 00802 0 m C Your Portfolio at a Glance Market Value of Your Portfolio in TOTAL VALUE OF SECURAMS THIS NAM 3,335.615 Cash I, felirekre ire $336.828 LONG ACCRUED MEREST 57.993 13.335.6' hteme raed—IMIIIIIIII II.1.175.67 7 s NET CREDIT BALANCE 77,668 Current menet wiz, NET MUM TmE PERTOO 53.471.276 MI Last Staternent'S made ralue r NEI EOM UST STATEMENT 1.517.425 CHANGE SINCE LAST STATEMENT 1.953.851 There are no 'Stop Loss' orders or other pending buy or sell open orders on file let your account. 66TTSEOCIA19- ANGS sai1111siareinte wit tinnyis we ensue, primes coo eteed00 no tax cent staid to mined fa ow woos Snows, ode fer /WWI Monate- 021 04.01106/3949 00 '.876 8 b.) b.) 0t EFTA01260504 C411APS0 7)4909(49 )4149149 0974E, SuBSUARY Beat S:brns So0.40•S Ca 499,79<te Cal& WTI &war. Wet 91 20 1659 FINANCIAL TRUST CO INC 2 0 z -n STATEMENT BACKER IS PRINTED ON THIS PAGE C rn z -H r OONSE00- 019- ANGS 027 0001.05.09'49 00' NIL rn 4 I S b.) IJ 00 b.) EFTA01260505 MASI° /144,./M rrs CMIED SUMCIATI OFFICE SERVICING YOUR ACCOUNT Bear. Steams a Co. Inc. Sur. Stein Starts. Cm. BEAR 383 Mad-son Avenue New yr • Vnv York 10179 Crit Memitn Sens UM 11201.350 STEARNS FINANCIAL TRUST CO INC 34444 T7A7TUfS1 POWS March I. 2005 MACUM March 31 2005 ACCOWT MYR Cash Flow Analysis Income Summary T000yre mow On Flo PCNIOD neS P700 YEAR DO CATE !AST fl yaway rebury 28. 2005 Opening Balance 5336,827.64 U.S. Govt. Bon Cm. 178,611.89 2.510.456.45 Goa. Agency Bit. 893.096.31 2,022,336.00 Securities So4d 956,588,364.34 Corp. Bono km 120,062.77 375,012.07 Dalderaisanterest 992.974.47 Ueda Balance 1,203.50 1.960.00 Miscellaneous 2.751.164.59 Reverse Repurchase Int. 323,157.29 826,531.30 Amount Credited 5960232,503.40 Total 51.316.131.76 55.736.295.82 z -n Securcies Bought -955229.656.15 Bond Parches, Ire. '1,309,848.42 -3.580.285.37 DhadendsAnterest Charged Repurchase Int. Exp. -177.727.19 ,400,692.42 -1.309.848.42 C Miscellaneous -3,452,158.93 in Amount Debited 5-960 591 663 50 Portfolio Composition z Net Cash Molly ClosingBalance -259.160.10 577 667.54 Cashtash Equaaleht 77,668 Your Portfolio Fixed 'merle 3.335,615 Allocation Total 53 413 283 r Cash Balance Summary COO & Esuvalent, 2% COMM 0,06•10 Mateo 336,827.64 77.667.54 Net Cashltalance 5336.827.64 577,667.54 TOZTS£00- 019- ANGS L toed Incorro 98% Suussc cram &um MI NY,Ce.hrd new Mc mum., OEMN tram I,. smut *ow 71.n of my colUc 027 04101 176 4. 077 1576 EFTA01260506 CLEARED THROLICK ITS 11110113 CEAVIED SIASOVAv OFFICE SERVICING YOUR ACCOUNT Int Sian Swages Cep. Beet. Steams & Co. Inc. Cn Minh en AMA BEAR 383 Modiste Avenue New Monk, New York 10179 8.05003 Rn YOft 11201.3859 STEARNS FINANCIAL TRUST CO INC one srArean mem March 1.2005 nat0.08 March 31, 2005 Your Portfolio Holdings AfrOAIT NuW8ER TAAA.AVA HAMAR On Me CASH & CASH EQUIVALENTS EAST STATHHAT FKcU& 28.2006 1.4181121 ISIV.WED CURRENT DE930.10. 5,94801.0.1911 OMER AKE 'IAEA( ANNUM IktOME HAD I%) CASH BALANCE 77.668 TOTAL CASH & CASH EQUIVALENTS 877.668 FIXED INCOME -n Government & Agency Obligations MST SWUM MUM WARM C DES080104 SHAIOLASSIP WPC 01.1111021 NEE MARCO VALUE MIAMI POPUAL MEAN %HD I%) rn FEDERAL NATIONAL MTG ASSN SERIES 2003-49 PASS SW DATED DATE 04/30103 BONG ENTRY ONLY 31393C205 MRGN 13.326.665 8.3078 1.107158 9.217 563.057 49.9529 2033 4.150% AFCTOR - .54826993 ROL HOME LOAN MEG CORP9510110 31282YDPI MRGN 9.755.215 22.8438 2.228.457 48.776 585.313 26.2654 SERIES 228 CUSS.) DATED DATE 02F01/05 r BOOK ENTRY ONLY OW02/01/2035 6.000% FACTOR - .97552156 $3.335.615 557.993 51,138.370 Total Government& Agency Obligations TOTAL FIXED INCOME 53.335.615 557.993 51.138.370 ZOZTS£00- 019- ANGS YOUR PORTFOLIOHOLDING$ACCRUED INTEREST 557.993 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME 51.138.370 YOUR PRICED PORTFOLIOHOLDINGS 53.413.283 017 0401.050949 001 Van I S b.) IJ 00 EFTA01260507 CtLAO TKROLA3m IS waour oMtD SuSSOwAy OFFICE SERVICING YOuR ACCOLIM Bear. Steams 8 Co. Inc. an. Swim Scones Ccos BEAR 383 Madison Avenue Ca. Uantea, Cain MOT Onninn. Inv MS 1I201-3859 STEARNS New York, New York 10179 FINANCIAL TRUST CO INC 5dw rotten KROD wren 1.2005 THKX.C.n Paco 31.2005 Repurchase and Reverse Repurchase Transactions VCONT Ntwout TAKPAYER with Bear,Steams& Co. Inc. outstanding asof date of statement LAST rATNIENT February 28.2005 PURCIUSti REPUSIOUSE MOND PURCHASE ROW ACCRUED ADO OUAKITTY STAR! OATE DATE RATE PRIKIPAL INFIRESa Ina WORM) CUSP OLSCRIFI1311 YOU SOLD GOVERNMENT NATIONAL MFG ASSOC (REPO) 01/13105 04/11/05 2.880 -2,601.003 -16.117 .22.103.000 38374FDE17 SERIES 2004-5 CLASS P 4.100002/20/33 0 YOU SOLD (REPO) YOU PROVIDED 01/13/05 04/11/05 2.880 -11,1)02.000 -73.752 .30.000.000 3136FAWEIS FANNIE3ME STRIP SERIES 329 CLASS PO 12/01/32 FEDERAL NATIONAL MEG ASSOC -n (MARGRO YOU SOLD 02/07/05 OPEN 0.000 40.000.000 31392.092 SERIES 2003-13 CLASS 5.1500 03/25/33 FANNIEMAE STRIP (REPO) C 03/1405 04/11/05 3.020 4.508.000 -5.448 -7.000,000 3138FC8C9 SERIES 346 CUSS PO 1001/33 in YOU SOLD (REPO) 03/16105 04/15/05 3.030 -11.248.000 -15,147 -30,959.779 3136FAWE8 FANMDME STRIP SERIES 329 CUSS PO 12/01/32 YOU SOLD FREDOEMAC STRIP (REPO) 03/16105 04/15/05 3.030 -2.013000 -2,710 -10,000.030 312827001 SERIES 228 CLASS 10 6.000002/01/35 YOU PROVIDED FANNIEMAE STRIP (MARGIN) 03/21/05 OPEN 0.000 .2.090.003 3138FC8C9 SERIES 346 CLASS PO 11/01/33 r YOU SOLD (REPO) 03/22/05 OPEN 1.990 -28.B00.000 -15,120 -30,000.000 91282801.49 USTR 4.000002115/15 YOU SOLO FREDMEMAC STRIP (REPO) 03/22/05 0411105 2.860 -2,018.000 -1.603 -10.000.003 31282YDP1 SERIES 228 CLASS 10 6.0000 02/01/35 YOU SOLD FEDERAL HOME LOAN STRIP _ (REPO) 03/2305 04/22/05 2.050 -2.032,1300 -1.041 -8,500.13C0 31282YDN6 SERIES 227 CUSS 10 5.000012/01/34 YOU PROVIDED FEDERAL HOME LOAN STRIP (MARGIN) 03/23/05 OPEN 0.000 -11.500.000 31282YDN6 SERIES 227 CLASSIC) 5.000012/01/34 £OZTS£00 IN9 ANGS 027 04/01.65.03.40 WI IITS 5684:1700-V.L.43 EFTA01260508 WAREO 714.CUGH rs *1.04X On•to Suit:Wore OFT/CE SERVICING YOUR ACCOUNT Boy. &vs% &arras Coy. Rear, Stearns & Co. Inc. BEAR 383 MaCcson Avenue New Yak. New York 10179 0**01Xech Calle EAAVi . µe Van 11201.31359 STEARNS FINANCIAL TRUST CO INC 6 am STATEMENT NAOS Nara 1.7035 Tliga/G14 WO 31. 2005 ACCOUNT I&A$E Repurchase and Reverse Repurchase Transactions (continued) 7ftuo.ArEFI NUMBER OnFt with Bear, Steams& Co.Inc.outstanding as of date of statement (continued) LAST STATrueir February 28.2006 NOOSE/ (01.0014.St PRONG KR0081 NOW ACCWD WO awn suat DAII DATE Mw PRiPOPAL INTEAST* PAR MONO CUSP OISCRITON YOU PROVIDED FANNIEMAE STRIP (MARGIN 03128105 OPEN 0.003 -910,000 3136fCBC9 SERIES 346 CLASS PO 11/01/33 0 YOU PROVIDED (MARGIN) 03/29/05 OPEN 0.000 -4,300,000 383741087 GOVERNMENT NATIONAL MEG ASSOC SERIES 2OO4-S CUSS P 4.1007 02/2043 YOU SOLD FANNIE MAE STRIP -n (REPO) YOU SOLD 03/3305 04/15105 3.050 4.429.033 -750 -20.000.000 31361C1.06 SERIES 353 CLASSIO FREDDIEMAC SIPS 5.000007/01/34 (REPO) 03/30/05 04115/05 3.050 -100,000 -16 -10.000.000 3128270P1 SERIES 228 CUSSIO 6.000002/01/35 C rn YOU BOUGHT (REVERSE) 03/21/05 OPEN 2.380 49.875,000 37.752 50,000,000 912828014 USIR 3.000012/31/06 TOTAL REVERSE REPURCHASE TRANSACTIONS 549,875.030 537,752 TOTAL REPURCHASE TRANSACTIONS 868.751.030 5.131.704 gettened date r Transaction Detail INVESTMENT ACTIVITY _ SETIMAINT TRW Oen WTI massicnott OFSCRI0311 mecum, °warn, Hsi NW /MOM CRICIT MONT 03/01105 02/28/05 SOLD UNITED STATES TREASURY BONDS 912810114 -33C0.000 109.72266 3.291.679.69 CUE 02(15/2031 05.375% FA 15 ACCR. INT. 8235.19 0988016192099 VIEW 4,721 14 TO IMTURRY OVER REF w 00591007 Al POZIS£00 IN9 ANGS 027 040100SAW0 001 0070 968CZZOO- V.L43 EFTA01260509 CAMEO 'MOWN ITS W1CMY MATEO MOSOMEY OFTEE SERVICE...1G YOUR ACCOUNT Bear. Steams & Co. Inc. Mr Stern Mason Cap. BEAR 383 Macson Avenue v Coe 1.11C1001 CeCe Oth (1.020”. N1 Yrt 11201.3859 STEARNS 10179 FINANCIAL TRUST CO INC 7 v• STAIMON1 02900 1/arch 1.2005 THROJOH march 31.2005 Transaction Detail (continued) ACCOMI MAMA TMPAYE11 NACCR On Fie INVESTMENT ACTIVITY (continued) LAST STATMENT retruaty 28. 2005 SEITWAN1 MAX amt art nuMACTEN cflawmcvi sniewcus• timitRy MICE cten MOUNT COCO &MOAT 03/0105 JOURNAL FEDERAL NATIONAL miG ASSN 3136FCBC9 SERIES 346 CUSS 1 011E 11/01/33 C) 03/02/0.5 03101/05 BOUGHT UNITED STATES TREASURY NOTE 9128280M9 10.000.000 96.92188 9,692,187.50 DUE 02/15201504.00D% FA 15 0988035598099 ACCR. INT. 16.57439 YEW 4.385 % 10 MATURITY GVER REF 4 G0601000 Al E53002/05 0301105 SOLD UNITED STATES TREASURY NOTE 9128280149 -10.000,000 96.89063 E I 9.689.062.50 DUE 02/15.'2015 04.000% FA 15 0988726999099 ACCR MT. 16374.59 VELD 4.189 % TO MATURITY C OVER REF • G0801005 Al rn 03/0405 03/03/05 BOUGHT UNITED STATES TREASURY NOTE OUT 02/1512015 04.020% FA 15 0988016192099 11EU) % TO MATURITY 9128280M9 10,000,000 ACCR. INT. 96.95313 9.695.312.50 18.784.53 GVER REF • 4,38140621002 Al 03/07/05 03/04/05 SOLD UNITED STATES TREASURY NOTE 9128289149 -5.000.COD 97.11719 4,855,859.38 DUE 02/15/2015 04930% FA 15 0988726998099 A . MT. 11,049.72 GELD 4.360 % TO MATURRT GVER REF # 03631009 Al r 03/09/05 03.108/05 BOUGHT UNITED STATES TREASURY NOTE DUE 02/1512015 04.000% FA 15 9128280M9 10.000.000 ACCR. INT. 96.95313 9,696,312.60 0988016192099 24.309.39 4.381 MATURITY 6VFR RFF # 6067/033 Al 03/09/05 03/08005 SOLD UNITED STATES TREASURY NOTE 912828DM9 4.000.000 96.96835 4.848.437.50 DUE 02/15/[01504.000% FA 15 0988280293099 ACCR. INT. 12.154.70 SOMEOCIN9- ANGS YEW 4.379 % TO IMIURRY GVER REF 100671016 Al OT 0•01O622.49 001 rn 8 IJ iJ 00 EFTA01260510 &MED DOOM. ITS Maly Crstaa SLISSIMITY MICE SERVICRIG YOUR ACCOUNT BEAR Beef. Steams & Co. Inc. 383 Madison Avenue aIftembid. Sat %Sin Smite. Ca. En Non law Vat 112014139 New York. New Ye', '0179 STEARNS FINANCIAL TRUST CO INC 8 a ra STArEL4ENT PERO!) match 1.2005 ni90.4 March 31.2005 Transaction Detail (continued) ACCOUNT HAIBINI TA,PRIfIt MAW On Ft INVESTMENT ACTIVITY (continued) LAST STATDADIT Faince, 28.2095 SETIVEWT TRADE SAE DATE IRMSACTrel CESCRIPTIN SYMBOLCUSIP ORmany net 01W MOUNT CAM! MOCONI 0314/05 03/03/05 CANCEL SELL FNMA 30YR. GTD 5/79357 10000000 100.81641 10.081.640.63 SETT. 03/05 DUE 03.01/2035 05.500% 0987797115332 0 REF 0 2005030357590000 BS AS OF 03/03/05 TO ESL PREVIOUS all z 03/14/05 03/04/05 BOUGHT FNNU 30YR.GTD SA79357 10,000.000 101.06250 10.106.250.00 -n SETT. 03/05 CUE 0301/2035 05.500% 0987280211332 REF • X05030457110003 BS C 03/14/05 0203(05 CANCEL SELL FNMA 30YR.GTD SETT. 0105 SA79357 10.000.000 101.51563 10,151,562.50 in DUE 03/01/2035 05.500% 0987135514332 z REF • 2005020357710000 BS AS OF 02/03/05 TO CA PREV0US SELL 03/14/0.5 020005 CANCEL SELL FNMA 30YR. GM shins? mew.= 101.67188 10,167,187.50 SETT. 0305 DUE 0301/2035 05.500% 0987280211332 REF • 2005021057810000 BS r 03/1405 03/01205 CANCEL SELL AS Cf 02/10/05 TO a PREVIOUS SELL FNMA 30YR. G7D 5/79357 15.000.000 100.68750 15,103.12500 MTh 03106 DUE 03/010035 05.500% 0997797115332 REF • 2035030157140000 BS PS OF 030105 To OIL PRE81005 SELL 90ZISE00- O19- ANGS 03/1405 02/17/135 BOUGHT HIM 30YR.GTD SA79357 15,003000 101.55859 15,233,789.06 SETT. 03/05 DUE 030122035 05.500% 0907203211332 REF • 2036021757360000 BS 027 0401/06rXeret OOT 201! I Sb.) IJ 00 ,f; 00 EFTA01260511 0.22.720 71.00.0.4 7240U.Y 01000 Sult2.20Fre MICE SERVICING YOUR ACCOUNT Beer. Stearns & Co. Inc. O . Swans Ssevitas C0p BEAR 383 medium 22211116 10179 Ore Ilerocith Conn 10.0 . Pantav 20 1559 STURNS FINANCIAL TRUST CO INC 9 roc STATES/SST' KFOCO March 1.2005 Thfoo4.0.0 March 31.200S Transaction Detail (continued) 2.0700.7CT ...max 200WER suw02.1 cc fib INVESTMENT ACTIVITY (confirmed) LAST $TASESIVIT f0G0Rry 28 2005 UTTLOANT TRAM Dan OM TRANSACI1CM OISCRP702 SYPAIOUCIZIP OUNNIT FREE DEW MOAT CREW MJC411/1 03/14/05 02/09/05 BOUGHT FNMA 3001.61D 5/79357 20.000.020 101.82422 20.364.843.75 SETT. 0306 DUE 03.01/2015 05.500% 0987280211332 REF • 2005020957310000 BS 03/14/05 03/03/05 SOW FNMA 30YR. GTD 5/79357 -10.003.CCO 100.81641 10,081.64063 z SETT. 03/05 DUE 03.01/2035 05.500% 0987797116332 REF • 2005030357590000 8.5 m 03/14835 03/04/05 CANCEL BUY FNMA 30YR. GM 5/79357 -10.030.000 101 06250 10,106,250.00 SETT. 03/05 DUE 03/002035 05.500% 0987280211332 m REF • 2005030457110000 BS AS OF 03414105 z 03/14/05 02/0305 SOW roar PREVIOUS BUY FNMA 30YR. GM SETT. 0105 51/79357 -10.000.000 101.51563 10.151.562.50 DUE 0301/2035 05.500% 0987135514332 REF 0 2005020357710000 BS 03/14/05 02/1045 SOLO FNMA 30YR.GTD SAMS? .10,000000 101.67188 10.167.187.50 r SETT. 03/05 CUE 03/01/2035 05.503% 0987280211332 REF • 2C05021057610000 BS 03/14/05 03/01/05 SOLD 110AA 30YR. GTO 5/79357 -15.000.0O3 100.68750 15.103.125.00 SETT. 03/05 DuE 03/D1/2035 05.500% 0987797115332 REF • 2005030157140000 8$ LOZTS£00-019-ANGS 03/1405 02./17/05 CANCEL BUY FNMA 30YR. GTO 5/79357 -15.020.CCO 101.55859 SETT. 03/06 15,233,789.06 DUE 0101(2035 05.500% 0987280211332 REF • 2033021767360000 BS AS OF D2/17/05 TO 01 PREVIOUS BUY 027 01/01106.11120 001 YS76 I Sb.) IJ so EFTA01260512 GUAM TAROuOn OS 7.7.00.7 Ova= tu•SDARY OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. BRA &Ora Seantet Cap. BEAR 383 MacliSen Avenue New Yak, New York 10179 Oft 11•17011111 tett NonA IIROcIn Paw RR 11201.3855 STEARNS FINANCIAL TRUST CO INC 10 or ,4 STATteT PERM Myth 1.2006 THROWN PAIrch 31, 2005 Transaction Detail (continued) A007417rt WISER TAWAYIR NIMEA On roe INVESTMENT ACTIVITY (confinerf) LAST swoon Fetc.041 28. 2005 21711/100 MAX DAR OAR TRARSACIID2 DESOISPICN SOMOLCUMP 0.1110Trf 9Na ORO MEW 1ST MOM 03/14/05 02/09/05 CANCEL BUY FNMA 30YR. GTO 5/179357 -20.000.000 101.82422 20.384.843.75 SETT. 03/05 DUE 03/01/2035 06.500% 0987280211332 0 REF • 2005020957310000 8$ AS OF 02/09/05 TO CO. PREVIOUS BUY 03/14/05 03/01/05 CANCEL SELL FNMA-30118FNIANGTD 5/181973 10.000,000 98.35156 9.835.158.25 -n SETT.0305 DUE 03/01/2035 06.000% 0987135514332 REF 0 2005030157060200 BS IS cc ostouos C TO PI PREVIOUS SELL in 01/14105 03/03/05 CANCEL SELL FNMA-30YR(tNMA)G711 DU .03/05 E 030112035 05900% 0987018110332 5/181973 10.000,000 98.53516 9.853.515.63 z REF • 9005030357550000 BS AS OF 03/03/05 70 C31 PREVIOUS SELL 03/14/05 03/04/05 BOUGHT FNMA.30YR(FNMALGTO SA81973 10.000.000 98.77734 9.877.734.38 SE17.03/05 DUE 0101/2015 MAO% 0987797115332 r 03/14005 02/03/05 BOUGHT REF • 20050304571213000 BS FNMA-30YR(FNMA)GTD 5.481973 10.000.000 99.43750 0943.75000 SETT.03/05 DUE 03/01/2035 05.000% 09037116514312 REF • 2005020357750030 BS 03/14/05 02/17/05 BOUGHT FALIA.30YRLF/IMA)GID SA81973 10,000.000 99.54297 9.954.296.88 SL17.03/05 SOZTS£00- 019- ANGS DUE 0301/2035 05.000% 0987016110332 REF • 2005021757303000 85 027 000703140219 Cl 2176 I8 IJ IJ EFTA01260513 CLEARED 11.0.,0m vicar Onto.D SulSictARY 01711E SERVICING YOUR ACCOUNT Beat. Steams 6 Co. Inc. ley. burs Sea.mits Cap. BEAR 383 Mad6on Avenue v axlavas% Crow Math &m*" New Yon 11201.385* STEARNS 10179 FINANCIAL TRUST CO INC 11 n STATEuENT RERICA Attedi 1. 2005 1NROUCri Math 31. 2035 Transaction Detail (continued) Attar PCWRIR OnArER NutniER On tie INVESTMENT ACTIVITY (continued) LAST moven February 26.2005 Stitl0A0(1 DMt DAR rammcnoN cescsomm 511.4550CUSIP Olimarre RACE WNW MOM CREW AMOUNT 03/14/05 02/10/05 CANCEL SELL FNMA-30YR(FNMA)GTO 5A81973 10,000003 99.73828 9.973.828.13 SETT.03/05 DUE 03/01/2035 05.000% 0987135514332 0 REF 0 2005021057670:00 85 AS OF 02/1005 TO CIL PREVIOUS SELL 03/14/05 03/01)05 SOLD FNMA30YR(FNIAA)410 51181973 -10.000.000 98.35156 9.835.156.25 SETT.03/05 DUE 03/0112015 05.000% m 0987135514332 REF it 2005030157060000 85 C 03114)05 03/03/05 SOLD FNMA-30YR/FNIMUG7D 51181973 -10.000.000 98.53516 9.853.515.63 rn SETT.03/05 DUE 0301/2035 05.000% 0987016110332 REF 0 2005030357650000 0$ 03/1005 03/04/05 CANCEL BUY FNMA-30YRUMANGTO 51181973 -10.000.000 98.77734 9.877.734.38 SETT.03/05 DUE 03/01/2015 05.030% 0987797115332 REF • 2005030457120000 85 AS CC 03/04/05 TO GO. PREVIOUS BUY r 03./14,05 02/03/05 CANCEL BUY FNMA-30YRUNIAMOTI) SETT.03/05 SA81973 40.0:0.000 99.43760 9.943.750.00 DUE 03/01/2035 05.000% 0987135514332 REF 0 2005020357750000 8$ AS OF 02/03/05 TO 01 PREVIOUS BUY 03/1405 02117105 CANCEL BUY FNMA-30YR010.4A)GED 51181973 -10.000.000 99.54297 9.954.296.88 SE0.03/05 60TESE00- O19- ANGS DUE 03/01/2035 05.000% 32 09870151103 KT 0 2005021752303000 BS AS OF 07J1705 7001 PREVCUS BUY 027 040OvOtata cm I/876 rn 8 b.) b.) EFTA01260514 CLEVItt3 TI.ROIX51 ITS 808OLLY 083.813 SIAISIOLAWY OFFICE SERVICING YOUR ACCOL.IT 8e.r. &tn 38881.. Coy. Bear. Steams 5 Co. Inc. BUR 383 n,acison Avenue V k 10179 OR Ihtlnlacn Grew Wen 11191.3859 STURNS Yn-k FINANCIAL TRUST CO INC 12 STATEMENT POICO March 1.2OO6 enOten March 31.2005 Transaction Detail (continued) ICCOLIC Mali 1887.XeCR Nu1.1001 On FY INVESTMENT ACTIVITY (continued) LAST STATEWJ.4? FebrUary 28.2OO5 5811808187 Tate OAT( OM TRIVISAC1O11 CM:WM SnIeteCuSIP Gummy intict DEW imituut CRUM AMOutil 03i NC* 02/10/05 SOW FNMA-30YR(FNMA)GTD 5A81973 -10.000.000 99.73828 9.973.828.13 SER.O.VOS DUE O1O1/2O35 05.000% 0987135514332 REF • 2005021057670000 BS 03/14/05 0203.05 BOUGHT FNMA 30YR(FIIMA) GM SA82010 20.000.000 103.01563 20,603,125.00 SETT. 03/05 CUE 03/01/2035 06.000% m 03/14/05 02/09/05 CANCEL SELL 0987280211332 REF 0 2OO5O2O35773OOEO BS FNMA 30YR(FNMA) GTO 5/082010 20.000,000 103.18750 20.837.500.00 SETT. 03/05 /2035 06.000% ci 03/0180211332 09872 m REF * 2OO5O2O95734OOOO BS AS OF 02)00/05 MCC PREVIOUS SELL 03/14/05 02.03835 CANCEL BUY FNMA 30YR(FNMA)GTD 5/082010 -20.000.000 103.01563 20.803.125.00 SETT. 03/05 H DUE 0300112035 06.000% 0987280211332 REF r 2005020357730:00 BS AS OF 02/03/05 TO (IL PREvIOUS BUY r 03/14/05 02/09/05 SOLO FNMA 30YR(FNMA) GM SETT. 03/05 WE O3/O1/2O35 06.000% 5/182010 -20.000.000 103.18750 20.637.500.00 0957280211332 REF a 20)502095734=0 as O3/144O5 03/11105 SCAB FEDERAL NATIONAL 1MG ASSN 3136FCKC9 -4.978.135 76.45313 3.805.940.34 SERIES 352 CUSS 1 ONE O7/O12O34 00.001% 0987797115332 OTZISE00- LAJD- ANGS REF a 2005011157110000 BS 03/14/05 03/11105 BOUGHT UNITED STATES TREASURY NOTE 9128280)6 8003030 98.94531 7.915.625.00 DUE 01/31.2007 03.125% Al Si ACCR. M. 29,005.52 19 09880162099 YIELD 3.708 % TO MARMOT GVER NEF /430701010 Al 02? 04001221.1)8e9 401 le 18 to 8 IJ ,..) 0 IJ EFTA01260515 CLEARED TPIROWI ITS WIICtLY Credal, SLOSIDIARY OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. Sox Seem Staten CoT. BEAR 383 Madison Avenue New Wilt New YOric 10179 Coy maus:f% Gray *III 11201.3SSI STEARNS .300 FINANCIAL TRUST CO INC 11 0.40 STATEItENT Petoc warm 7.2005 THIMA)0.1 747cca 31, 2005 Transaction Detail (continued) 7A.:2w:kuviee INVESTMENT ACTIVITY (contnued) LAST STATI011a Rtellety 2005 straluun Trott NOE DATE TRANIACTEN 0O06PlI0N 90.80M3990 OuANTIN Pact DUE MOUNT OtENT BYQNf 03/15/05 03/14/05 SOUGHT UNTIED STATES TREASURY NOTE 9128280F4 25.000.000 98.80078 24.700.195.31 DUE 12/31/2006 03.000%1D 30 098/3726998099 ACCR. M. 151314.92 YEW 3,694 % TO MATURNY 0 03716705 03714/05 SOLD GYER REF 0 60731012 Al FEDERAL NATIONAL FM ASSN SERIES 329 CLASS PO 3136FAWE6 -7,882.556 77.21876 6.086811.75 STRIP ii 03/16105 03/14705 BOUGHT DUE 01/0172033 0987797115332 REF • 2005031457300000 EIS FEU HOME LOAN MG CORPIS10110 31282YCIYI 9.755.215 22.78125 C SERIES 2 CIASS 10 DUE 02/028 1/2035 060 00% ACCR, INT. 2,222,380.05 24,388.04 in 0987000510332 REF 02605031457200000 9.5 AS Of 0314.05 ACCRUES ON 1ST, PAYS ON 251N cenedas 03/1905 SOW UNITED STATES TREASURY NOTE 9128280119 -10,000.000 95.67188 9.567.187.50 CUE OM 5/2015 04.000% FA 15 0988280293099 ACCR. INT. 32,044.20 YELD 4.547 % TO MATURITY OVER REF 0 60741007 Al r 0371805 03/16/05 SOW FEDERµ NATIONAL MEG ASSN SERIES 346 CLASS 1 WE 11/07/2033 0987016110132 3136FC8C9 -2,979,254 77.59375 2,311,723.34 REF # 2005031657230000 BS 03/18/05 JOURNAL FEDERµ NATIONAL MEG ASSN 3136FAWE6 -1 SERFS 329 CLASS PO WE 01101/33 STRIP ADJUST PCGITION ITZTSEOCIND- ANGS 03/21(05 03118/05 SOUGHT UNITED STATES TREASURY NOTE 912828DF4 25,000,000 98,84375 DUE 12/31/2036 03.000% A 30 24,710,937.50 0988778197972 ACCR_ NT. 185,74586 YIELD 3.675 % TO mAlliRRY OVER REF • 03771013 Al 027 0401460849 COI YON I8 IJ V.2 0 EFTA01260516 CLEARED THROu0a MS rA4OLLT aent0 MAU741Xf OFF/GE SERVICPX YOUR ACCOUNT Bear. Steams & Co. Ire. Bew Stoaas Seculan Cap. BEAR 383 Madison Avenue New Ufa. Nett York 10179 One Mentall Cam Math Am Vas 11201.1859 STEARNS FINANCIAL TRUST CO INC 14 are STATEMENT 911000 Math 1,2005 Tne/Outai match 31.2005 Transaction Detail (continued) ACCO(NT 518,18ER NM TAxrAvER hiSANLIS INVESTMENT ACTIVITY (ccotilued) LAST STATEMENT Feeney 28.2005 111711,11017 IRME Mn DAIS 118111SACTICM 01501.00re Srvecucus• Oman PM COM AgC010 CUD' MOUNT 03/21/05 03/18A35 BOUGHT UNITED STATES TREASURY NOTE 912828064 50.000.000 98.84375 49,421,875.00 WE 12212006 03.000%10 30 ACCR. INT, 331.491.71 0988778197972 YIELD 3,875 II TO MATURITY OVER REF *G0771013 B1 03/21105 03/18/05 BOUGHT UNITED STATES TREASURY NOTE 9128280F4 50,000,000 98.84375 49,421,875.00 DUE 12/3112006 03.000%10 30 ACCR. WT. 331,491.71 0988778197972 YIELD 3875% TO MATUROY -n 03/21/05 03/18105 BOUGHT GVERreef • 00771013 Cl UNITED STATES TREASURY NOTE DUE 02/1512015 04.000% FA 15 9128280M9 13.000.000 95.98047 12.477.460.94 ACCR. M. 48,839.78 8035598099 C HELD 450 Is TO MATURITY rn 03/21/05 03/18/05 BOUGHT GVER REF • 60771008 Al UMTEO STATES TREASURY NOTE DUE 02/192015 04.00a FA 15 9128280%19 13.000.000 ADM. INT. 96.03125 12,484,062.50 0989016192099 48.839.78 NEU) 4,501 %TO MATURII7 GVER REF /F 60771000 Al 03/21/06 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FCBC9 -1 SERIES 346 CLASS 1 WE 11/0123 r 03/22/C6 03/18/05 SOLD FEDERAL NATIONAL MTG ASSN SERES 153 CLASS 2 PIE 0101/2034 05.000% 3136$CLD6 .14.252.296 25.62500 !COL INT. 3452.150.94 41,569.20 0987049814332 RFS it 2005031857140000 BS ACCRUES ON 1St PAYS ON 25TH 03/22/05 03/18/05 BOUGHT RIX HOME LOAN MTG CORPeS10110 31282YDP1 9.753.213 22.48438 2.193.399.26 URNS 228 CUES I0 ACCR. M. 34.143.25 DUE 02/012015 06.000% MISE00- 019- ANGS 0987049814332 REF • 2005031857180000 85 ACCRUES ON 1St PAYS ON 25TH 027 04/01/06,08919 001 Ala r77 8 IJ 157 2 EFTA01260517 CL AASO 7144006.4 rts MC.LV OATES SLONSOOAN OFFICE SERIACtoG YOUR ACCOUNT Bar. Sterns 6 Co. Inc. &AL Sound Senate% Coy BEAR 383 Madison Avenue New York. New York 10179 Crs Meg.-MN Cele Math Ithaadn Piro 'En 112014359 STEARNS FINANCIAL TRUST CO INC 1S en; STAMALLAT PERO!) Mardi 1.2005 rpaCAL3N Mach 31.2005 Transaction Detail (continued) ACCO.TO ewes TASTE* LAUBER On Re INVESTMENT ACTIVITY Noratinuet0 LAST STATelienr hammy 28.2005 SETTLEMENT DAR DATE ISMILUCTION DESCITIMON SVIMOUCUS• Govan' COn MOM =Off ASOUM 03/22/05 03/2105 SOW UNITED STATES TREASURY NOTE 9128280M9 -26.000,000 95.82813 CUE 02/15/2015 04.000% FA 15 24,915,312.50 0988016192099 ACCR. INT 100,552.49 NEW 4.527 %10 MATURITY 0 03/23/05 03/21/05 SOW GvER REF • 60801006 Al FEDERAL NATIONAL MEG ASSN SERIES 353 MASS 2 31361C106 -14,252.296 25.93750 3,696,689.37 DUE 07/01/2034 05.000% ACCR. INT. 43.548.68 -n 03/2605 03/21105 BOUGHT 0987000510332 REF r 2005032157270000 85 ACCRUES ON 1ST. PAYS ON 25TH FEDL HOME LOAN NIG CORP0510110 31282YDP1 9.755.215 C SEWS 228 CLASS 10 DUE 02/01/2035 06.000% ACCR. INT. 23.03125 2.246.748.09 35.769.13 in 0907000510332 REF it 2005032157310000 EIS ACCRUES ON 157. PAYS ON 25TH 03724/05 JOURNAL FEDL HOME LOAN MTG CORPWS10109 31282Y0N6 1 AFARS 227 CLASS ID 5.000 DUE 1201/34 ADJUST PO$ITCN 0312405 PRINCIPµ FEDERAL NATIONAL MTG ASSN 3136FAWE6 SERIES 329 MASS P0 199.747.03 r WW/01133 STRP PRP RID 02-05 RID 03-25-05 REPO PA I 0.0000 Ii • 4 03/28/05 PRINCIPAL FEDERAL NATIONAL WIG ASSN 3136FAWE6 SERIES 329 CLASS PO 238.243.25 DUE 01/01133 STRIP PRIN R-0 02-05 ND 03-25-05 REPO P a I 0.0000 ETZTSEOCIN9- ANGS 03/28/05 PRINCIPAL FEDERAL NATIONAL MEG ASSN 3136FAWE6 SERFS 329 CLASS PO 285.891.90 DUE 01/01133 STRP PRIN WO 02-05 ND 03-25-05 REPO P A I 0.0000 027 04101.105:00149 001 we I8 b.) Ia La mt, EFTA01260518 GUAM nwcooN vA.0LLY OmatO SuitelittUrf OFFICE SERVICING YOUR ACCOUNT Bow. Steams & Co. Inc. Us. Seers Semmes Cap. BUR 383 Madsen Avenue New Y0rk. New Yo ' 0179 Or Ileettan Carter Moe ewe Vert 11201480 STBMINS FINANCIAL (RUST CO INC 16 N.> $TA!OEWT PtIOCO Meth 1,2005 TKROur..x match 31.2035 Transaction Detail (continued) ACC0Uvr rOMIR TAXPAYER 'a.a INVESTMENT ACTIVITY (cMimed) LAST STATEYENT February 28.2005 SETRDAEMI MODE OATS OM IfyaSCTI0N DISCRInCel SYWW:uso Rummy PRICE con AMAMI atm MAUR 03/28/05 PRINCFAL FEDERAL NATIONAL AIM ASSN 31393C2C6 .241.672 SERIES 2003-49 CLASS SW 4.350 DUE 01/25113 PATECIPAL REDUCTN 03-25-05 0 03/28/05 PRINCIPAL FEDERAL NATIONAL MTG ASSN SERIES 346 CUSS 1 DUE 11/01/33 PRPI RJD 02.05 P/D 03-25-05 3136FCBC9 12.622.20 -n REPO P 6I 0.0000 03/28/05 PRINCIPAL FEDERAL NATIONAL MTG ASSN 3136FCBC9 25.244.40 SERIES 346 CLASS 1 CUE 11/01/33 C PRIN R4)02-05 P/0 03-25-05 REPO P 6I 0.0:00 in 03/28/05 PRINCIPAL FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 WE 11/01/33 3136FCBC9 59.227.25 PRW WO 0245 P/D 03-2545 REPO P 5I 0.0000 03/28/05 PRINCIPAL FEDERAL NADONAL MTG ASSN 3136FCBC9 97.093.85 SERIES 346 CLASS 1 DUE 11/01/33 PRM RID 02-05 PM 03.25-05 r 03/28/05 PRINCIPAL REPO P a I 0.0000 FEDERAL NATIONAL MIS ASSN SERIES 352 CLASS 1 3136FCKC9 85.727.46 0.001 DUE 07/0 4 ARM WO 02.05 P/O REPO P AI 0.0000 03.2545 03/30/05 03/28/05 SOW FEDERAL NATIONAL MTG ASSN 31315FCLD6 -14,252.296 28.34375 3.754.589.32 SERIES 353 CLASS 2 ACCR. M. DUE 07/01/2034 05.000% 57.405.08 VIZTS£00- 019- ANGS 0967027711099 REF At 2005032857120000 85 ACCRUES ON 1St PAYS ON 25TH on 0031/050.40 001 YO711 ril 8 b.) b.) EFTA01260519 IN RARER Meittran 03 WRCTAY 010.0) SuBSOATRY OFFCE Wettest YOUR ACCOUNT Bear. Steams & Co. Inc. Star Sinn SAWN.. Cap BEAR 383 Manson Avenue New Yoh New York 10179 One Mencatn Cater *NM Near Tali 11201.3959 STEARNS CO INC 17 o 40 STATEMENT MGM Mardi 1.200$ TTMOUOm parch 31, 2005 Transaction Detail (continued) ACCANN1 WAS TAXPAYER wan On Fig INVESTMENT ACTIVITY (continued) us, STATEMENT Fetruvry 25.2005 SEITUAWn flux 0Alt CIAIE TRIMEACTIOR CESOMMON VIABCYCIISP WARM! MCA COS1 AMOUNT CREW VACANT 03/30105 03/28/05 BOUGHT FEU HOME LOAN MTG CORP*S10110 31282VDP1 9.755.215 23.90625 2332.106.23 C) SERFS 228 CLASS 10 DUE OV01/2035 06.00015 0987027711099 ACCR. INT. 47,150.21 0 03/3115 JOURNAL REF it 2005032857110000 BS ACCRUES ON 1ST, PAYS ON 25n1 FEDERAL NATIONAL MTG ASSN 3136FCLD8 SERIES 353 CLASS 2 5.000 DUE 07101134 F I TOTAL 3-412.406.610.51 S273,687.675.03 C INTEREST in z DATE 03001/05 OESCAPROM AVG BAL 880.06ORT 1.799 021 CAME INTERIM 0206 snacucus• RUMMY RATE 00 OW /JAM !RENT *OI$1T 1,203.50 03/1505 TEDL HOME LOAN MEG CO0,0510109 31282YDN6 5.0000 24.673.31 SERIES 227 [LASSO DUE 12/01/2034 LOCO r 03/15/05 M RA 02-05 leD 03-15-05 REPO P a I 5.0000 FEDL HOME LOAN MTG CORN/510109 31282VDN6 5.0000 57.571.07 SERIES 227 CLASS 13 DUE 12/07/2034 5.000 M *10 02-05 Pi0 03-15-05 REPO P a I 50200 03121/05 GOVERNMENT NATIONAL MTG ASSN 3837411767 4.3510 16.594.20 SERIES 2004.5 MSS PS _ DUE 02/20/2033 4.351 riT RIO 02-05 Pio CO-20-05 REPOP&I 43518 SIZTS£00 IND ANGS 027 04,01.06:0k0 001 VATS L06£ZZOO-V.Ld3 EFTA01260520 CLEARED TWICUGH RS voIsis CrATIO SLOISCIARY OTC( SERVICING YOUR ACCOUNT It. Smarts Swats Os. B9N. Steams & Co. Me. (Ve lissoloch Caw tan BEAR 383 Madison Avenue 10179 Procler. Pies In 11201411S9 STURNS Not FINANCIAL TRUST CO INC 18 NAP sTATFAckT ettsM Mach 1.2005 TkeOL*N March 31.2005 Transaction Detail (continued) Kea:NT waits ThsvANTA raAMIA Co Cie LAST STATOMR Setaary28.2005 INTEREST (coreinued) OS VMS SWIX/040 COMMON WE M DOR masa mon AVOW DAR GOVERNMENT NATIONAL MFG ASSN 38374FD87 4.3510 63.827.43 03/21/05 SEWS 20044 0.4.55 PS DUE 02/20‘2013 4.351 PIT W00205 WEI 03-20-05 0 03/21/06 REPO P & I 4.3518 GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 38374FD87 4.3510 80.146.94 DUE 02/20/2033 4,351 m 03/28/05 iNT PA) 0205 FYD 03-2005 REPOP4I 4.3518 FANNIE MAE CMOISERIES 2003.13 31392/082 5.3500 120.062.77 S Rat4A3 FLTR ci CUE 0325/2033 5.350 m 03/28/05 NT WO 02-05 P003.2505 REPO P 4. I 5.3930 FEDERAL NATIONAL MTG ASSN 31393C2C6 4.3500 49,185.22 SERIES 2033-49 CIASS SW DUE 0125/2033 4.350 INTEREST PAYMENT 03-25-05 H FEDERAL NATIONAL MTG ASSN 31351CLO6 5.0000 119.803.93 03/28/05 SERIES 353 CLASS 2 DUE 07/01/2034 5.000 Wr WC, 02-05 RD 0325-05 r 03/28/05 REPO Psi 5.0000 FEDERAL NATIONAL MTG ASSN 3136FCLO6 5.01100 139,771.25 SERIES 353 CLASS 2 CUE 07/01/2034 £000 cm R002-05 P003.2505 REFo P I 5.0.300 5571.839.62 TOTAL 9IZTSEOCIND- ANGS C27 vets EFTA01260521 CLEARED 11111C4X4e rrs woott Own= 844.1401•Av OFFICE SERMCPIG YOUR ACCOUNT Bear, Steams & Co. Inc. ant sans senates COP. BUR 383 maetson Avenue One Veyeeof Caner P4:03 New Yen 112.01.3339 STUNRNS New York V ck 0179 FINANCIAL TRUST CO INC earpeeT P0000 Match 1,2005 neROUCH 14arch 31. 2005 Transaction Detail (continued) Mow ol NUMBER TAXPAYLIE WAWA FOP REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear,Stearns& Co.InC. LAST STATVANT roomy 262005 WAIPAIN1 MAX Oaf DAM 014443/1470M OtSCRATKel SOPOCACIOP OMAR Of 4,1 MOUNT MICA AliOUNT 03/01.05 JOURNAL UNITED STATES TREASURY BONDS 3,000.000 FITM F0530651 A2 912810FP8 3.322.500.00 5.375 CUE 02/15/31 TERM REPO AGREEMENT 0 03/01/05 INTEREST UNITED STATES TREASURY BONDS DUE 02/15/2031 !TIM F0530651 At REPO INTEREST 5.375 9128101P9 1,588,0E m 03101105 JOURNAL GOVERNMENT NATIONAL MEG ASSN SERF 4.351S DUE CLASS PS 2034402/20/33 RIM F0403143 A2 38374FDB7 4,303.030 µ TWA REPO AGREEMENT ci m 0304/05 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 20044 CUSS PS 4351 OM 02/2003 FILM F0633139 Al 38374EDB7 4,300.000 444.000.00 REPO AGREEMENT — 03104/05 JOURNAL UNITED STATES TREASURY NOTE 9128280M9 H Flea F0490624 AZ 30.000,000 26475.000.00 4.000 DUE 03/15/15 TERM REPO AGREEMENT 03.04615 JOURNAL r UNITED STATES TREASURY NOTE FTIM F0630588 Al 4 000 CUE 02/15/15 ROO AGREEMENT 912828DM9 .40.000.000 38200000.00 03/0405 INTEREST UNITED STATES TREASURY NOTE 912828DM9 CUE 02/15/2015 23.645.50 4.000 MIA F04906 AZ REPO INTEREST 24 03107105 JOURNAL UNITED STATES TREASURY NOTE 91282801019 -35000.003 LIZTS£00 IND ANDS RIM /0660335 Al 34,125,000.00 4.000 CUE 02/15/15 REPO AGREEMENT 021 outreasoc49 om 1829 606aZOO-Vin EFTA01260522 CI.F.AMEO Twig:000H ne 'MOW( 01040 80980vire OFFICE SERVICING YOUR ACCOUNT 8.w. SrNne Secuirel Co. Rear. &earns 8 Co. Inc. Cne Meutaxn Germ kith BEAR 383 Madison Arena NON York. New To* 10179 twit" W. Volt 1120/4859 STEARNS FINANCIAL TRUST CO INC 20 ono srAiwpc scitoo March 1.2006 71490Jrai meth 31.2005 Transaction Detail (continued) AMOINT I4LNIER TAXPAYER htikeER On /11e AS STAITUP.7 illinary 28. 2005 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) SETTLEMIXT MN 01.001Tv MECO Meal WE 081E littlISACMPI Dr.5011.11081 SIWOLOWSIP OEM MOUNT 0347/05 JOURNAL UNITED STATES TREASURY NOTE 9128280449 40.000.000 38.800.000.00 Him F0630588 A2 4.000 Out 02/1915 TERM REPO AGREEMENT 0 03/07/05 INTEREST UNITED STATES TREASURY NOTE DUE 02/#15/2015 F 4.000 0630588 A2 9128280M9 1.584.33 REPO INTEREST -n 03/09/05 JOURNAL UNITED STATES TREASURY NOTE FM F0660335 A2 4.000 ME 02/15/15 912828DM9 35.000.000 30.125.000.00 TERM REPO AGREEMENT C 912828DM9 -40.000.000 38,500,000.00 rn 03/09/05 JOURNAL UNITED STATES TREASURY NOTE FTTM F0680720 Al 4000 DUE 02/105 REPO AGREEMENT 03109435 DELIVERED UNITED STATES TREASURY NOTE 9128280/6 -8.000.000 7.990.000.00 DUE /3 3.125 3.125 1/20071/07 01COE01/3 FITM F0540900 /1.2 TERM RESALE AGREEMENT RECEIVED UNITE() STATES TREASURY NOTE 9128280)6 8.000.000 7.990.800.03 r 0309,05 DUE 01131/2007 3.125 DUE 01/31/07 FiTm F0640000 A3 3.125 TERM RESALE AGREEMENT 03/09/05 INTEREST UNITED STATES TREASURY NOTE 912821384.19 2.644.69 WE 02/15/2015 4.000 Fins F0660335 REPO MEREST 5.168.87 8TZISECIO IN9 ANDS 03/09/05 INTEREST UNITED STATES 'URFA& MY NOTE 912828016 CUE 01/31/2007 3.125 Him F06409120 A2 RESALE INTEREST 027 0.01.106.1tat 001 VNe Ol6EZZOO- V.L43 EFTA01260523 CLANIED TOTOWA ITS vfmO. Owe SuBSCIARA OFFICE SERVICENG YOUR ACCOUNT Bear, Steams & Co. Inc. Sear. Pen Secuibn Cap. BEAR 383 Ma6Son Avenue One mimeo CAIN Nell Swam Pew at 20 .10S0 STEARNS New York. New Yoh 10179 FINANCIAL TRUST CO INC 21 ac sunup/a PE 0O Myth 1.2605 TIMOUOM With 31.2006 Transaction Detail (continued) ACC/.MT WISER TAAPAVER NASA REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (0openueci) LAST froADOCNT Tetruary 28.2005 St711.O4:147 MIX OW OATE TRANSICTION (ASCRIPTION SYMOIDUCLISA CPS OM ALMA CROAT 'AIWA 03109)05 INTEREST UNITED STATES TREASURY NOTE 9128280/8 6.166.87 Da 01131/2607 3.125 0 FIlM FOS40900 A3 RESALE INTEREST 0 03t10105 JOURNAL FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO DUE 01)01/33 STRIP 3136FAWES -11.014,443 7.646.030.00 ATM F0693164 Al REPO AGREEMENT m OMMS JOURNAL FEDERAL NATIONAL MTG ASSN 3136FAWE6 11.014,443 8.514.000.00 SERFS 329 CLASS PO C DUE 01/01/33 STRIP in 03/10/05 JOURNAI. MA F0413328 AZ TERM REPO AGREETAEM FEDERAL NATIONAL MTG ASSN 3136FAWE6 -13.137.594 9.120.000.00 SERIES 329 CLASS PO DUE 01/01/33 STRIP FITM F0693180 Al REPO AGREEMENT 03/10,06 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FAWEi3 13,137.594 9.695.000.00 r SERIES 329 GLASS PO OUE 01/01/33 STOW FILM F0593200 AZ TERM REPO 0.GREDADIT 03/1010.5 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FC8C9 3.180.365 SERIES 346 GLASS 1 DUE 11/01/33 FIN F0593290 .42 TERM REPO AGREEMENT _ 03n 0105 JOURNAL 2.202.000.00..._. FEDERAL NATIONAL MTG ASSN 3136FCBC9 -3,160,365 SERIES 346 CLASS 1 DUE 11/01/33 WM TC693190 Al REPO AGREEMENT 6TZTSECIO INS ANGS 027 0410107(10:071.W1 NIX IlaZZOO-V1.43 EFTA01260524 CLEAFNO 1)004.Cre rra nesaz.v Omar) sunCivAnr OFFICE SERVICING YOUR ACCOUNT Rear. Stearns E. Co. Inc. Sta Swann BEAR 383 MadIsco Avenue New Yak, New Ted 10179 One Mereakei Gorr vorth Net Yet 112014159 STEARNS FINANCIAL TRUST CO INC 22 a a: CATMINT PERO° March 1.2005 Twouam much 31.2005 Transaction Detail (continued) *Rea Maine TAIPAYMI mumben REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (COntilue40 TAIT STATANNT February 28, 2005 SITTLIINKT IMOC OAT! TITNAIACTICN Liana. SYMMUOAse OUNarrr DEW Pala Ca AMOUNT 03/10105 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FCKC9 4,978.135 3395.000.00 SERIES 352 CLASS 1 0,001 DUE 07/01(34 C) MU F0693182 AI REPO AGREEMENT WOW JOURNAL FEDERAL NATIONAL MEG ASSN 3136FCKC9 4,978.135 3,784,000.00 SERIES 352 CUSS 1 0.001 DUE 07/01/34 WM F0413299 A2 -n 03/10/06 INTEREST TERM REPO AGREEMENT FEDERAL NATIONAL IATG ASSN SE RES 329 CUSS PO 3136FAWE6 7,466.69 C STRP DUE 0101/2033 CLOCO rn RIM F0693200 AZ REPO INTEREST z 03/10/05 INTEREST FEDERAL NATIONAL MEG ASSN SERIES 329 CUSS PO STRP DUE 01/0112033 0,000 3136FAWE6 18.47538 Finn F0413328 AZ REPO INTEREST 03110/05 INTEREST FEDERAL NATIONAL MEG ASSN 3136FCKC9 8211.28 r SERIES 352 CUSS 1 DUE 0701/2034 0.001 FILM F0413299 A2 REPO MEREST 03/14/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FCBC9 -5.213,713 3.608,CO3.00 SERIES 346 CLASS 1 DUE 11,01/33 FRM F0713338 Al REPO AGREEMENT OUTS£00- 019- ANGS 03/14/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FCBC9 5.213.713 3.972.000.00 SERIES 346 CLASS 1 DUE 11/01/33 MA F0463248 A2 TERM REPO AGREEMENT 027 0031/0603.• rn 8 IJ IJ IJ EFTA01260525 CLEARED DIROVOni OS InI4OUy OMICO SUSSOORY OFFICE SERVICING YOUR AODYINT SW San Swan Co, Sew. Steam b Co. Inc. BEAR 383 Madson Memo New Yok. New l2(1( 10179 Ore lacacCech C— t ool*. Stn Vent 1120141S9 STURNS FINANCIAL TRUST CO INC 23 v.. ITATD.Or PERICO March 1.2035 INROLCut Marth 31.2005 Transaction Detail (continued) ACCetert I4LOAMR TAXPAYOR OAXACA On file REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) can STAMM!! refrury 28.2005 SEnunor nuzi Out ICAcSICTION 0415018.11q. ViniC4XUSIP OUMRIY O MOM! CROY! MatouN1 03/14/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FOCC9 4.978.135 3.395.030.00 SERES 352 CLASS 1 0.001 DUE 07/01/34 FITM /0693162 A2 YEW REPO AGREEMENT 03/14/05 DEUVERED UNITED STATES TREASURY NOTE 9128280/6 -8,000,003 7,990,000.00 DUE 01/31/2007 3125 3.125 DUE 01/31/07 HIM F0640900 A4 m TERM RESALE AGREEMENT 03)14/05 INTEREST FEDERAL NATIONAL MTG ASSN 3136FC8C9 8,311.41 SERIES 346 CUSS 1 C DUE 11,01/2033 TOM 10463248 A2 0.000 m 03/14105 INTEREST REPO NIEREST FEDERAL NATIONAL MTG ASSN 3136F0(03 1,131.67 SERIES 352 CUSS 1 DUE 07/01/2034 0.001 FEU F0693182 AZ H REPO MEREST 03/14/05 INTEREST UNITED STATES TREASURY NOTE 9128280/6 7339.20 DUE 01/31/2007 3.125 FTTIA 10540900 A4 r 03/15/05 JOURNAL RESALE INTEREST GOVERNMENT NATIONAL MTG ASSN 38374F087 -4.300,000 2004-5 CUSS PS 4.351 SERIESDUE 02/20/33 ETNA 10743467 Al REPO AGREEMENT 03t15105 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FD87 4.300.000 444,000.00 SERIES 20044 GLASS PS TZZTS£00- 019- ANGS 4.351 DUE 02/20/33 TEM F0833139 A2 TERM REPO AGRfmaw 027 0401.0kOkell 031 Olt I8 IJ IJ EFTA01260526 CLEARED MOM.. ITS %smear Ontet0 SuSSAVARY OFFICE SERVICING YOUR ACCOUNT Bear Swann SOSIESS Grp. Bear, Stearns & Co. Inc. BEAR 383 Maclulu Avenue Ole Meintech Caw Roth liroothn. Ism Tat 1120/3/69 STURNS New York. New Yon( 10179 FINANCIAL TRUST CO INC 24 oi STAMENS PEP= Minh 1. 2005 Minh 31.2005 Transaction Detail (continued) ACV-Ant mutat TAXPAYER NAM. On FIR REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST ST MVO February 28.2005 smarm TRADE DAR DATE TRAMICON cootim0N simoucuse crairtIn 01911 AlaCtP0 CWIET MOUNT 03115/05 RECEIVED UNITED STATES TREASURY NOTE 9128280F4 175.000.000 174.562.500.00 DUE 12/31/2006 /063.000 3.000 DUE 12/31 MA FD740909 Al 0 03/15/05 DELIVERED RESALE AGRED4ENT UMTED STATES TREASURY NOTE 9128280F4 -200.000.000 200.000.000.00 z DUE12/312006 3.000 DUE 12/31/06 3.0:0 -n FIT/A 10550686 A2 TERM RESALE AGREEMENT 03/15105 INTEREST GOVERNMENT NATIONAL MEG ASSN 383741087 400.22 SERES 2004-5 CLASS PS C DUE 0220 FA F0633119 2033 4.351 A2 rn 03/15/75 INTEREST REPO MEREST UNITED STATES TREASURY NOTE 912828014 z DUE 12/31/2006 FITM 3,000 F0550686 A2 RESALE INTEREST 243.94444 03/TWOS JOURNAL FEDERAL NATIONAL TOG ASSN 3136FAWE6 11.014,443 7,646,000.00 SERIES 329 CLASS PO DUE 01/01/33 STRIP r 03/16105 JOURNAL MI 10693164 PL2 TERM REPO AGREEMENT FEDERAL NATIONAL MTG ASSN 3136FAWE6 13,137,594 9120000.00 SERIES 329 CLASS PO cur ovolia3 STRP TOM F0893160 A2 TERM REPO AGREEMENT 03/16.05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FAWE6 -16.269.480 11.248.000.00 ZZZIS£00 IND ANGS scats 329 cuss Po D SuE TRIP 01/01133 MA 10753215 81 REPO AGREEMENT 027 C.01/06.01.49 COT tI02700- V.L.43 EFTA01260527 0.EARED TM:MN NS EALCALY MANED SLAMMARY orra SERVICING YOUR ACCOUNT Bear. Steams 6 Co. Inc Sam Myr. senates Cup. BEAR 383 Madison Avenue iI itsi T tie rk 10179 ens lan.9.99% Cote REM (Vcciesn Sew St NE 839 STEARNS FINANCIAL TRUST CO INC 25 ON STATEMENT ribt09 With 1.2005 134t0u3N Merck 31. 2005 Transaction Detail (continued) ACCOUNT sweet TAXPAYDI REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (Dont/rued) LAST STATESMAN Newry 26.2035 SETTLDMIT MIX DATE DAM IIMSSACMCW DESOMMEN STEIBOLECUS• MUMMY ton MOW CRUM AMOUNT 03/16105 JOURNAL FEDL HOME LOAN MTG CORPMS10110 31282YDP1 -9.755,215 2,013.000 00 SERIES 228 CUSS 10 6.000 DUE 02/01/35 NM F0753215 Al REPO AGREEMENT 03/16105 JOURNAL UNITED STATES TREASURY NOTE 9128280M9 -30.000.000 28.850.000.00 F117.1 F0750930 Al 4.000 DUE 02/11/11 -n 03/16.105 JOURNAL REPO AGREEMENT UNITED STATES TREASURY NOTE F1114 F0680720 A2 9128280M9 40.000.000 38,500,000.00 4.000 DUE 02115115 TOW REPO AGREEMENT in 03/1695 INTEREST FEDERAL NATIONAL MEG ASSN 9.5269 329 CLASS PO SEW CUE01/01/2033 0.000 3136FAWE6 3,823.00 FITM F0693164 A2 REPO MEREST 03/16105 INTEREST FEDERAL NATIONAL MT6 ASSN 3136FAINE6 4,560.00 SERIES 329 CLASS PO STRIP DUE 014)112033 0.000 r 03/16/05 FILM /0693160 A2 REPO INTEREST INTEREST UNITED STATES TREASURY NOTE 912828Dm9 6.684.03 DUE 02/15/2015 4.000 FITM F0680720 A2 REPO MEREST 03/18105 JOURNAL FEDERAL NATIONAL MEG ASSN 3136F03C9 -201.103 SEWS 346 CLASS 1 DUE 11101/33 EZZISEOCIN9- ANGS FIN F0773246 Al REPO AGREEMENT tm TwouDexam MM ion rn 8 IJ IJ EFTA01260528 CLAW nitOtni. ns vMOLLY MILD BLISOLOW OFFICE SERVICING =JR ACCOLeff PM. Yawns koalas Cap Beat. Steam!, & CO. Inc. Cr* Untold., C._ Math BEAR 383 Madison Avenue CA 10179 Srobtfp). Wm en 20 .380 STEARNS Milli FINANCIAL TRUST CO INC 26 a ip s'Atexer PERIOD March 1. ZOOS mane 31. 2005 Transaction Detail (Continued) ACCOUNT mat* twiavER kviSER 4:0 Pie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (centiwed) MST suttmeNT Prelnary 28.2005 nal MX OAR OAR 19.011SCIVI wane SIWOUCUSS WWI^. DWI MOW CREW /MOM 030805 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FC8C9 3.180.365 2.202.000.00 SERIES 346 CLASS 1 WE 11.01133 FONT F0693190 A2 0 O3/1805 INTEREST TERM REPO AGREEMENT FEDERAL NATION* MTG ASSN SERIES 346 CUSS 1 3136FCBC9 1,468.00 DUE HIM1110112033 0.000 -n 03/2105 JOURNAL 10693190 A2 REPO INTEREST FEDERAL NATIONAL MEG ASSN 3136FC8C9 201,100 SERIES 346 CUSS I C WE 11/0143 MA F0773246 At rn 03/21/05 JOURNAL TERM WO AGREEMENT FEDERAL NATIONAL MEG ASSN SERFS 348 CLASS i 3136FC8C9 1556.665 DUE 11/01/33 HIM F0803161 Al REPO AGREEMENT 03/21/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FC0C9 1.355.565 1.000.000.00 SERIFS 346 CLASS 1 WE 11/01/33 r HIM F0563270 A2 TERM REPO AGREEMENT 912828014 50.000.000 49.875.0:0.00 03/2005 RECEIVED UNITED STATES TREASURY NOTE DUE 12/31/2006 LOCO 3.000 DUE 12/31/06 EOM F0600899 Al RESALE AGREEMENT 03/21105 DELIVERED UNITED STATES TREASURY NOTE 91282833F4 -175=000 174.562.500.00 PUTS£00-019-ANOS DUE 12/31/2016 3.000 3.000 WE 12/31/06 Frrm 10740909 A2 TERM RESALE AGREEMENT 022 0031/OLOOS COI W76 In 8 b.) IJ v2+ EFTA01260529 CLEADED DROVER ITS WrI0U.Y ODWED SuBSOTOrr OMCE SERVICR4G Yarn ACCOUNT Beer. Steams & Co. Inc. sew. &arra S*Dnies Cn BEAR 383 MedSai ATerco One ineranii Coin Myth Don r 11201.3430 SIBMINS Now Yo& New Ycck 10179 FINANCIAL TRUST CO INC 27 o STATINENT PERIOD Meath 1.2005 TEROJOH Niro 31.2005 Transaction Detail (continued) ALCOVE' MADER ToarRYCR DurffiER Cc, Elk REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (contnuel8 VDT STAnSVENT rebury 28.2005 SEDSDADIT TRAM an DATE TRIMUCTIM OEStaPICRI smeu.ca DUINEWt DEBff AVOW CEEDO MOW 03/21/05 JOURNAL UNITED STATES TREASURY NOTE 912828DM9 30.000.000 28,650,000.00 FMA F0750938 A2 4 000 WE 02/15/15 TERM REPO ACRED.IDIT 0 03/21105 JOURNAL UNITED STATES TREASURY NOTE ATM FOT300875 Al 4.000 COE0205/1S 9128280M9 -56.000.000 53,830,000.00 REPO AGREEMENT -n 03/21/05 INTEREST FEDERAL NATIONAL MTG ASSN SEWS 346 CLASS 1 WE 11/01/2033 FITIA 0.000 832 3136FC9C9 1,926.67 PO F0663210 T C RE MERES rn 03121835 INTEREST UNITED STATES TREASURY NOTE WE 12f31/2006 RDA F0140909 A2 3.000 9121328Cf4 71,473.65 z 03/21/05 INTEREST RESALE INTEREST UNITED STATES TREASURY NOTE 9128280M9 10.035.46 DUE 02/15/2015 4.000 RIM F0750938 A2 REPO INTEREST 03/22105 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374F087 4.300.000 r SERFS 2004-5 CLASS PS 4.100 DUE 02/20033 RTM F0143467 A2 TERM REPO AGREEMENT 03/22/05 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FDB7 4,300.000 427.00000 SERIES 2004.5 CLASS PS 4.100 DUE 0200/33 FILM F0813290 Al REPO AGREEMENT SZ Z.(SE00 IND ANUS 03/22M5 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FELD6 -14,252.296 3.322.000.00 SEMIS 353 CLASS 2 5.000 WE 01/01/34 FIrm F0613184 Al REPO AGREEMENT 027 0401006.03,49 001 V874 L I 6EZ ZOO- Vida EFTA01260530 CLEARED TRIOVON ITS wHOLLY &NEC SUOSIYARY OMCE SERviCalt YOUR ACCOUNT ewe sun Stones Cam Beer. Steams la Co. Inc. menxea• Caner Nona BEAR 383 Madison Avenue New Yak. New York 10179 ova Pen Rik 11201.1449 STEARNS FINANCIAL TRUST CO INC 28 ar. funkier HMCO March 1.2005 114CM3H March 31.2005 Transaction Detail (continued) ACCOUNT KAMER TAsPAvER NUNSCR 00 FM (continued) tar rramerr Fetaary 28.2006 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS 511110.100 MOE OJMITUY CUM /MOM CSKOr1 AmOuN1 DAR DM 0w4SACTON DISCRIPDON 5618CMCUSP 03/22/05 JOURNAL FEDERAL NATIONAL LUG ASSN 3136FCLD6 14,252.296 3,322,000.00 SERIES CLASS 2 5.000 CUE07/01/3A Mu F0813164 A2 0 03/22/05 JOURNAL REPO AGREEIADO FEDERAL NATIONAL MTG ASSN SERFS 353 CIASS 2 3136FCLD6 .14,252.296 3.322.000.00 SECO DUE 07/01/34 -n 03/22/05 JOURNAL FONT F001314.4 AS REPO AGREEMENT FEDERAL NATIONAL MTG ASSN 3136ECID6 -14,252.296 3,400.00080 SERIES 353 CLASS 2 5.000 DUE 07/01/34 rn 03/22/06 JOURNAL Mu F0813164 A3 REPO AGREEMENT FEDERAL NATIONAL MEG ASSN 3130C11/6 14.252.296 3.400.000.00 SIRES 353 CLASS 2 5.000 DUE 07,01/34 Fine F0013161 M REPO AGREEMENT 03/22/05 JOURNAL FEDERAL NATIONAL MEG ASSN 3136FCLC15 28.504.592 6.406.000.00 SERIES 353 CLASS 2 5.000 DUE 07/01/34 r Dim F0133284 88 TERM REPO AGREEMENT 2,018,000.00 03722105 JOURNAL FEDL HOW LOAN MTG CORP4M10110 31282Yr:471 -9.755.215 SERIES 228 CLASS 10 6,000 CUE 02/01/35 MIA F0813166 Al REPO AGREEMENt 03/22/05 JOURNAL UNITED MATES TREASURY NOTE 9128280149 .30000.000 28,030,000.00 9ZZIS£00 IND ANDS FONT F0810394 Al 4.000 DUE 02/15/15 REPO AGREEMENT 03/2205 JOURNAL UNITED STATES TREASURY NOTE 912828045 56.000.000 53,830,000.00 FITAI F0000875 4.2 4,000 DUE 02/15/15 TERM REPO AGREEMENT 027 omoussen 001 1,1176 8I6EZZOO- V.L.43 EFTA01260531 C7CAREO Telf107701 ITT OFFICE SEFMCING YOUR ACCOUNT WW1 OWTED StAnewAy Bear. Steams & Co. Inc. Mr. Sown ktunin BEAR 383 Madison Avenue LMMernecn erne Nan bat." New Yn 11207.3539 STEARNS New York. New York 10179 FINANCIAL TRUST CO INC 29 €4.. STATµENT PER100 Myth 1.2005 2/150110,1 Mirth 31.2005 Transaction Detail (continued) ACCOWT KRIM To5PArest µApt On Fie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS Bonenued) LAST STAMM!! rectum 28.2005 SETILIDEINT MOE DATE DATE 1PRISACTON uscesnoic SWaoixim CILDIDITY DM MWIT CREDIT NAOMI 03/22/05 INTEREST FEDERAL NATIONAL MTG ASSN 3138FCLO6 SERIES 353 CLASS 2 34.80064 CM 07/01/2034 5.000 FM F0133284 B8 REPO INTEREST 0 03/22/05 INTEREST UNITED STATES TREASURY NOTE DUE 02/15/2015 FTIM F0003875 A2 4.000 9128280919 3387.72 Km MEREST -n 03/23/06 JOURNAL FEDERAL NATIONAL MTG ASSN SERIES 353 CLASS 2 5.000 DUE07101/34 3136FCLD6 14.252.296 3,322,000.00 C BEM F0913164 M TERM REPO AGREEMENT rn 03/23/05 JOURNAL FEDL HOME LOAN MTG CORP.510109 SERFS 227 CUSS TO 5.020 DUE 12/01/34 31282Y0N6 13.731.183 FM F0473174 At TERM REPO AGREEMENT 03/23/05 JOURNAL FEOL HOME LOAN MTG CORP•510109 31282YDN6 5.884.792 MIES 227 CUSS TO 5.000 CUE 1201/34 FITM F0483188 A2 r 03/23435 JOURNAL TEM REPO AGREEMENT Fox NNE LOAN MTG CORMS10109 SERIES 227 CLASS ID 31282YDN6 -11,279,186 5.000 DUE 12/01134 Mm F0823310 Al REPO AGREEMENT 03/23/05 JOURNAL FEDL HOME LOAN MTG COMMS10109 31282Y0N6 -8.336.790 SERIES 227 CLASS 10 2.032.000.00 $000 DUE 12/01/34 _ ATM F0823312 Al REPO AGREEMENT =SEGO IN9 ANGS 027 0001/06.0040 CO1 Mlt 6I6EZZOO-V.L.43 EFTA01260532 CLEARED THROUGAI ITS WHOLLY CANED SLIESIXARY OFFICE SERVIC2C YOUR ACCOUNT Lint. Donis Seefiks CaeD Flew. Steams & Co. Inc. Ore Ihnotedi COMM Haw BEAR 383 Madeon Aveoue New York. New York 10179 W0010" Nt• THE II201.1850 STEARNS FINANCIAL TRUST CO INC 30 SAc STATEIIENT REMO MIRO I. 2005 ywouom myth 31. 2035 Transaction Detail (continued) ACCOUR7 roNeaR TAAPAYER WADER lif itM REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATEDERT retrUary 28 2005 SEDI.04740 TRADE DAZE Mt( IRMISACTRAI DESCRIPTEN ETRIOUCUS. away 0180 WORN, aeon ASKANT 03/2305 INTEREST FEDERAL NATIONAL MTG ASSN 3136FCLEN3 263.91 SERIES 353 CLASS 2 IRE 0710112034 5.0)0 MN F0813164 AG REPO MEREST 03/28/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FC8C9 677.782 SOOANNICO SERIES 3-45 CUSS I WE 11431/33 -n 0312805 /DIURNAL RDA F0593279 AZ TERM REPO AGREEMENT FEDERAL NATIONAL MTG ASSN 3136FC8C9 477.782 SERES 346 MASS 1 C DUE 11101(33 FRIA F0873354 Al in 03128/05 MEREST REPO AGREEMENT FEDERAL NATIONAL MTG ASSN SERIES 346 CLASS 1 3136FC8C9 1,13656 WE 11/01/2033 0.000 Fum ]e AZ REPO MEREST EREST 03129/05 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FD87 4.300.000 SERES 20344 CLASS PS 4.100 DUE 0212033 r FONT F0693205 Al REPO AGREEMENT 38374F087 03/29)05 JOURNAL GOVERMENT NATIONAL MTG ASSN 4,300.000 427,000.00 SERIES 20044 CUSS PS 4.100 DUE 02/2043 FM F0813290 A2 TERM REPO AGREEMENT 03/29/05 INTEREST GOVERNMENT NATIONAL MTG ASSN 38374F087 253.23 SOWS 2004-5 CLASS PS 8ZZISE00- 019- ANGS DUE 02/20/2031 4.100 Rim F0813290 A2 REPO MEREST 027 OugnAkbeewe OM vend Fn 8 IJ EFTA01260533 MIMIC 314104334 rtS MOLLY 0/0.2J) eresowre OFFICE SERVICING VIM ACCOLNT Beer, Steams & Co. Inc. boo. SseanS 5430ake. BEAR 383 Madison Avenue 0-e Iktr0140 Cella Hort" '1201.3859 STEARNS 10179 FINANCIAL TRYST CO INC 31 aro STA311/93.7 PE 100 3.Ufel 1.2005 1,1401.93•1 PAYth 31.2005 Transaction Detail (continued) 'ergMI MA UMW.. WWII On fie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (openued) LAST IITAITheNT Fotruart 20. 2005 SEITLEMDIT 22202 OAR OATE 0100ACIICH 0130011120 SYWOUCLISP WHAM 00.1MOAT CREW 0000.0 03130035 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FCLD6 49.003.061 4.429.000.00 SERES 353 CLASS 5.000 DUE07/016e2 ATM FOBB3150 61 0 03/30105 JOURNAL REPO AGREEMENT FEDERAL NATIONAL MTG ASSN SERFS 353 CUSS 2 3136FCL06 19.001061 4,429.00000 5 000 DUE 07/01/34 Film F0693160 62 -n 03/30105 JOURNAL REPO a FEDERAL NATIONAL MEG ASSN SERIES 353 CLASS 2 3136FCLD6 -19.003.061 4.429.000.00 C 5.000 OBE 07/0144 WM 70893160 B3 in 03/30105 JOURNAL REPO AGREEMENT FEDERAL NATIONAL MTG ASSN SUES 353 PASS 2 313100106 19.033.061 4.429000.00 5.0:0 DUE 07A)1134 FTDA F0893160 64 REPO AGREEMENT 03/30/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FCLD6 -19.003.061 4,429,000.00 salts 353 CLASS 2 5.000 DUE 07/01/34 FTIM F0893160 05 r 03/30/05 JOURNAL REPO AGREEMENT FEDERAL NATIONAL MEG ASSN 3136K1D6 33.256.358 7,351400.00 SERIES 353 CLASS 2 5.000 DUE 07)01/34 FRM F0283169 A4 TERM REPO AGREEMENT - 03/30/05 JOURNAL FEDL HOME LOAN MTG CORPeS10110 31262VDP1 9.755.215 100.00003 sERES 228 CLASS 10 6UTS£00- 019- ANGS 6.090 DUE 02AM/35 ITV 70093160 AS REPO AGREEMENT 021 0001.0001101 001 2072 rn 8 IJ 1,) `33 1,) EFTA01260534 CLEARED 0.110.101 ITS VOIOLLP CVNE31 SURStaRY OFFICE SERVCIUG YOUR ACCOUNT 1w. Skeen Stones Opp Bear. Steams 6 Co. Inc. Ore IhIeTolech Crier ton BEAR 383 Madison Avenue New Yu*, Now Ted 10179 bpoitty, /./n/ et 20 4859 STEARNS FINANCIAL TRUST CO INC 32 d•1 STATIDIEW PEFOOD 5ISICP 1.2005 flea-0H Varth 31.2005 Transaction Detail (continued) ACC0610 WIX•be NM TAXPAYER NuMER REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) tw roatwert retwory 26.2005 SOTDAW 1010E OUNITItt OEM ALCM CREW Mwa OAT( DATE TROPSICIENI DESCRIP11014 SITAIMUCUSP 03/30/05 JOURNAL FEDL HOME LOAN MTG CORPiPS10110 31282YDP1 -9.755.215 2.082.030.80 228 CLASS I0 6,003 DUE 02/01/35 6,0 REM F0893160 Al 0 03/30/05 JOURNAL REPO AGREEMENT FEDL NOME LOAN NTS CMPAS10110 SERFS 228 CUSS C 31282YDP1 9.755,215 2.062.000.00 6.000 DUE 0201135 -n 03/30/05 JOURNAL MIA F0893160 A2 REPO AGREEMENT FEDL HOME LOAN WS CORPAS10710 312826:P1 -9.755.215 C SERIES 228 CLASS I) 6,000 DUE 0201135 rn 0313=5 JOURNAL FM F0893160 A3 REPO AGREEMENT FEDL HOME LOAN MTN 03RPAS10170 31282Y0P1 9.755215 VINES 228 CUSS 10 6.000 DUE 02A31/35 MA F0893160 A4 REPO AGREEMENT 03130/05 3NTEREST FEDERAL NATIONAL MTG ASSN 3136KID6 35.623.76 SIRES 353 CLASS 2 ME07101/2034 5.000 r Find F0283169 Al REPO !MEREST S.544 732 894.06 5683 221.824.16 TOTAL MISCELLANEOUS 0£M£00 IA19ANCIS OAR CREW AAIOUla *WY IRAX5ACIICTI OM MOW 03/09/05 DELNERED FITM P00020653766 189.59 0215212820 POOL COUPON 4.0:00 FIIANCING NET (*AIRCO DDT Or/ 04,01/05,0OW 001 WO rn 8 IJ U.) U.) Is) EFTA01260535 CLE•4110 MR01.04 RS .81.8832 OWNED 3808024ey OFFICE SERVICING YOUR ACCOUNT Boar. Stearns 6 Co. Inc. 8822 Saris SecurGeS co BEAR 383 Madison Avenue Ole lAtimok2 Center horn issert 11201.3859 STEARNS mos 10179 FINANCIAL TRUST CO INC 33 co AD $TATDAEN• PRISCO Mart8 1.2005 THROWN Match 31. 2005 Transaction Detail (Continued) Accouv, NVIMER 72.):822etil 4.40ze on Pie MISCELLANEOUS (continued) LAST nine!! Fan:my 2a. 2005 OATS IOW ritAnACTION OLSCR$8110.8 OM SCUM MN awe 03/11/05 JOURNAL FNMA 30Y2.GTD 201.367.18 C) SE1T. 03/05 5.50D DUE 0101/35 MRS ET ON 1/05 0 03/11/05 JOURNAL FNMA.30YR(ENMA)GTO 5171.03/05 5.000 DUE 03/01/35 113.281.25 z 03114/05 JOURNAL MIS NET 03/1105 FNMA 30YR(FNMA) Gm 34,375.00 ii SUL 0105 6.000 DUE 03/01/35 ES NET 03/14/05 0311505 JOURNAL FEB 05 SPEC CLEARING FEES 5.450.03 m 03/21/05 JOURNAL TO GADY MC 021-52128.F1 892.060.60 z J 03/22/05 03/22/05 JOURNAL RECEIVED FR CMDY A/C 0214212E1 FEOERAL NATIONAL MTG ASSN SERE 353 CLASS 2 78.000.03 34.812,50 5.000 DUE 07/01/34 DUE 0701/2034 5.000 /Dm 9041020016352 0215212820 r 03/22/05 DEUVERED FAHNE MAE STRP POOL 0021445 COUPON 5.0000 FEDERAL NATIONAL MTG ASSN 78.000.00 SERIES 353 CLASS 2 5.000 CUE 07/01/34 DUE 07/01/2014 5.000 FILM P00020916370 0215212820 FAElla MAE STRP POOL 0021445 COUPON 5.0000 TEZISECICIA19- ANGS 03/23/05 JOURNAL FR CNC), NC 021-52128-11 267,100.00 03/24/05 JOURNAL FR CMOY MC 021-52128-F1 88.562.50 03/28105 JOURNAL FR CNN A/C 021.52128-F1 6462.50 027 omumsanut 001 .1376 En I8 IJ IJ 11,2 EFTA01260536 CUM® THR.348314 ITS 94.101.0 0808.0 SUISSIOURY OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. Bea. — Stan Cap. BEAR 383 Madison Amite New York, New Ycdc 10179 Cat Matted, On Math 119• Yen 11201.3859 STEARNS MSS FINANCIAL TRUST CO INC 34 en: SinChT HMCo Mirth 1.2005 laROIP311 Mecca 31.2036 Transaction Detail (continued) ACCOUNT Nan navel natilt MISCELLANEOUS (cortnued) LAST STArnahl lattUaty 28.2005 an 1409911 rRuemcnoN omaenoed OM masa 011:011 Alva 03/29105 JOURNAL FR CMOY A/C 021-52128-F1 69.662.50 03/30105 RECEIVED FEDL HOME LOAN MTG CORP*S10110 100.000.00 SERIFS 228 CLASS 10 0 6.003 DUE 0101135 DUE 02/0112035 FTDA PG0021028947 0215212820 LOCO FREDDIEIMC STRP -n P001.0034145 COUPON 6,0030 03/30/05 RECEIVED FEDL HOME LOAN MFG CORPOS10110 2.062.000.00 SERFS 228 CUSS 10 6.000 DUE 02/01/35 DUE 02/01/2035 6.000 FRP P00021028815 rn 0215212820 FREDDIEIMC STRIP P0340334145 COUPON 6.0000 03/3005 DELIVERED FEDI. HOME LOAN PMGCORPeS10110 100.000.00 SERIES 228 CLASS 13 6.000 DUE02/01/35 DUE 02101/2035 6.000 rum PG0021028952 0215212620 FRECCIEMAC STRP POOL 0034145 COUPON 6.0000 r 03/30/05 DELIVERED FEDL HOME LOAN MTG CORPtS10110 SERIES 228 CLASS 13 2.052,000.00 6.000 DUE 02/01135 DUE 02/01/2035 6,030 SIM PG0021028811 0215212820 FRECOIDMC STRP POOL 0034145 COUPON 6.0030 ZEZTS£00- 019- ANGS TOTAL S-3.452,158.93 52.751.164.59 027 C4011050949 001 1.176 rn I8 IJ 1.2 10 1.2 EFTA01260537 GLEAM TkROLGI RS WHOLLY &*€D SueStaAY OEM( SERVICING YOUR ACOXINT Beer, Steams & Co. Inc. kr Swans koars Can. BEAR 383 Modisco Avenue idetnath Cenci Nom mi t 11201-M69 STEARNS 10179 FINANCIAL TRUST CO INC STAMMNT n1003 Mara 1.2005 1144:trai mato 31.2005 Arta Hr 4Limitrt Trades Executed Pending Settlement TAxaalER MME/ On For LAST STATEI4EVY Ferules 29.2005 SETTEuENT nu.DE DAR TIPANIACTCw OTSEnnow MEOWS* exam NCI o'er WOLNT MD" Alcorn 04701/05 03/31106 BOUGHT UNITED STATES TREASURY NOTE 9128280F4 60.000.0:0.00 98.7304 49.742.306.20 DUE 12/31/2006 03.000%10 30 0988016192099 YIELD 3,755 % TO MATURITY GVER REF ♦ 60901002 AI 04.01905 0331705 SOLD UNITED STATES TREASURY NOTE 912828000 40.003.003.00 99.9140 29,977,292.52 DUE 03/31/2007 03.750% MS 31 09813015192099 m 04/01705 03/31/05 SOLD MELD 3.795 % TO IMIURflY OVER REF 4 60901006 Al UNITED STATES TREASURY NOTE 912828000 -50.000.000.00 99.9140 4%962,154.20 OUE 03031/2007 03.750% MS 31 ci 0989016192099 m 04/13/05 03/14/05 BOUGHT YIELD 3,795 %10 MATURITY GVER REF /60901006 Ell FNMA 30YR GTD SA82290 10.000.000.00 97.7109 9,771,093.75 SETT. 0405 DUE 0001/2015 05.000% H 0987280211332 REF • 2005031457200000 85 04/13/05 03/15/05 BOUGHT FNMA 301R GTO SA82290 20.000.000.00 97.5781 19.515,1525.00 SETT. 04/05 r DUE 04012035 05.000% 0987135514332 REF • 2005031557140000 B$ 01/13/05 03/16705 BOUGHT FNMA 30YR Gm 5082290 5.000.000.00 97.9335 4,896,670.69 SETT. 04/05 DUE 04/01/2035 06.000% 0987016110332 RU V 2005031657130000 BS EEZTS£00- O1D- ANGS 04713/05 03/21705 BOUGHT FN1M 30YR GTD 5A22290 40.030.0:0.00 97.7500 39.100.000.00 SETT. 0005 DUE 04/0172035 05.000% 0037016110332 REF • 20050321571400:0 EIS 62 04010.40949 001 nn EFTA01260538 Can notOutai aS CuY atnaD SUSSOmAr OFFKX SERVICING TINA ACCIANT Bes.3usre Stanton Cap. Bear. Reams & Co. Inc. 0w1Aenaeat Ores No•91 BEAR 383 Madison Avenue isms 10179 11201.3959 STEARNS FINANCIAL TRUST CO INC 16 STATEleff PERCO Math 1.2005 AWN 31.2805 we.Kr Neuman Trades Executed Pending Settlement (continued) TAxpAynt tame On Ile us, siAtextm idniery 21 2005 WNW& TRADE St1.190LCUS/P OUAMTIT PRICE DEW AMIN' Ma /Mourn DAR TPARSAC11314 09500P1131. 03/30/05 BOUGHT FNMA 30YR GTD 5/082290 50.000.000.00 97.3984 48.699.218.75 0013105 SETT. 04/05 DUE 04/01/2035 05.000% 0987280211332 0 04/13105 03/08/05 Seth REF 0 2005033057320000 BS FNIAA 30YR GID 5/082290 -10.000.000.00 98.4687 9.646.675.00 SETT. 04/05 DUE 04/01/2035 05.000% -n 0987016110332 REF 0 2005030858030000 BS 5/182290 -26000.000.03 98.5312 19.706.250.00 04113/05 03/06/05 SOLD FNMA 30YR GM C SETT. 04/05 DUE 04/0112035 05.000% rn 0967280211332 REF # 2005030857670000 85 FNMA 30YR GTO 5/62290 45.000030.00 97.9218 14.688.281.25 04/13/05 03/09/06 SOLD SETT. 0005 DUE 04/092035 05.000% 0987016110332 REF a 200503095738000D BS 03/09/05 SOW FNMA am GTO SA82290 .20.000.000.00 97.9921 18598.437.50 04113105 SET*. 04405 r DUE 04/01/2035 05.000% 0987021011332 REF 12005030957320000 BS 04/13/05 03/14/05 SOW FNMA 30YR GTO 55.82290 .20.000.000.00 97,6562 19.531.250.00 SETT. 04405 DUE 04/01/2035 05.000% 0967280211332 REF r 2005031457060000 85 PEZTS£00-019-ANGS FNMA 30YR GTD 5/062290 -20.00D.00100 97.9101 19.582.031.25 04/13/05 03/1806 SOW SETT. 04405 DUE 04/01/2035 05.000% 0987016110332 REF • 20050318570MM* BS 027 0.01.10110.99 011 v676 I8 IJ a+ EFTA01260539 atatO T.88003m ES WattlY OANED MAMMARY WEE SERVICING YOUR ACCOUNT Beer. Stearns .5 Co. Inc. MN. SIttre Sows Corp. BEAR 383 Madison Mena 0,11/Eroutli Calm urn Elm vas 112014850 STEARNS New Yak. New York 10179 FINANCIAL TRUST CO INC 37 cr.° STATEMENT /TROD With 1.2005 ISSOUSSi MESE 31 2005 Atw1JET SlANSER Trades Executed Pending Settlement (continued) MOWER NINE/ LAST STAMEN- febn.ary 28 2005 SCITUNDIT TRACE OAR DATE SkIVIC DESCIVTON SA410/8831. OLIWIITY MICE Cell &New CRIOT JAUNT 0013875 03/78/05 SOLD FNMA 30YR GTD 58782290 -20000000.00 97.9218 19.584.375.00 SETT. 04/05 DUE 0401/2035 05.000% 0987135511332 REF • 2005031857050000 BS 0 04/13/05 OV14/05 BOUGHT FNMA 30YR MD St-17.04M 58782291 5.000.000.00 100.1328 5,006,640.63 WE 048142035 05.500% 0997290211332 REF • 2005031157290300 as 04/13/05 03/16105 BOUGHT FNMA 30172GTD 58782291 5.000.000.00 SETT. 04/05 100.2656 5,013,281.25 C DUE 04/01/2035 05.500% 0967021011332 in 04/13/175 03/29/05 8OUGHT REF 12036031167240000 BS FNMA 30YR GTO SA82291 20.000.000.00 101.4843 20,296,875.00 SOT. 0405 DUE 01/01/2033 05.500% 0987135511132 REF IT 2005032957130000 65 AS OF 03/2905 04/13/05 03/30/05 BOUGHT FNMA 30YR GM SA82291 35.030000.00 99.8125 34,934,375.00 r SETT. 04.05 WE 04/01/2035 05.500% 00870313T 7099 REF • 2005033057390000 RS 04/13/05 03/29105 CANCEL BUY FNMA 30YR GTO 58782291 20.000.000.00 101.4843 20.296.875.W SETT. NM DUE 0401/2035 05.500% 0997115514332 REF r 2005032957130000 BS AS OF 03/2905 SEZTS£00- 019- ANGS 01/13/05 03/08105 SOLD FNMA 30YR GTD SA82291 -10,000.000.00 100.7070 10.070.703.13 SETT. 04/05 WE 0401/2035 05.500% 0967011110132 REF * 2005030859150300 BS 027 0.101415.0.49 DOI rn 8 IJ rJ rJ EFTA01260540 01.050 nOtOuOn Df venour CIRCO SUILSMIARY OFFICE 50WONG YOUR ACCOUNT 944: Saar saws 0n. Beet Steams & Co. Inc. BEAR 383 Wilson AVeni. New York New Yen '0179 ML kientsh Ceres rim 'rotor. New vat 1170141.50 STEARNS FINANCIAL TRUST CO INC 38 o, 40 STATDAFHT 0M00 March 1.2005 7M030.1 March 31. 2005 PCCOurn MAW Trades Executed Pending Settlement (continued) TAXPAYER HAW On Fie LAST STATEMENT Febuary 28. 2005 501104,0 MUM MR art TIONSACION DISCPSMCW MACLICUSIP Omer pRKE 0030 WO.M CAMIT MOM 04/13/05 03/09/05 SCI.D FNMA 30YR GM 5032291 46.000.01:0.00 100 2812 15.042.187.50 SETT. 04/05 DUE 05.500% 7797115 04401/2035332 REF • 2005030957390030 BS 0 0413705 03/09/05 SOLD FNMA 30YR MD SETT 04105 SA82291 -20.CC0.030.00 100.3476 20060531.25 DUE 04/01/2035 05.500% -n 04/13/06 03/29/06 SOLD 0987135514332 REF • 2005030957280000 BS FRMA•30YR/FNMAIGID 5082357 -20.033.0O3.00 101.7187 20,343,750.03 C SE7104/05 DUE 04/01/2035 08.000% in 04113/05 03/30/05 SOLD 0987135514332 REF • 2005032957090000 85 FroMA-30TR(FNMA)GTD 5182357 .20000.030.CO 101.9218 20,384,375.00 SETT.04/05 DUE 0001/2035 06.000% 0987797115332 RU • 2005033057150003 BS 04/18/06 03/29/05 BOUGHT FNMA 30n2 GTO SA82291 20,000,000.00 101.4843 20290875.00 SETT. 04/05 r DUE 04101/2035 05.500% 0987135514332 RU di 2005032957130000 BS 04/18•05 03/29/05 CANCEL BUY FNMA 30YR GTD SA82291 20,000,000.00 101.4843 20,296,875.00 SETT. 04105 DUE 04.01/2035 05.500% 0987135514332 REF • 2005032967130000 ITS AS OF onus 9EZTS£00- 019- ANGS 04/113105 03831305 BOUGHT FNMA•15YR(FNIA.4.15)G1D 5.082366 20.000.000.00 98.5468 1%709.375.GO SET/Cm/05 DUE 04101/2020 04.500% 0987280211332 REF • 2005030857680:00 e$ 027 10101.06.0920 001 WM rri 8 b.) V.) ,C+ 00 EFTA01260541 CLEARED INR0u0A ITS Aw0ur Ow4E0 SuSSOAAY OFFICE SERVICING YWR ACCOUNT Beer. Steams & Co. Inc. Bev Siens Sec von Cop BEAR 383 Madison Avenue New York New York 10179 0-e *gown Co%a Awn bec•ho ont at ' 20 3459 STEARNS FINANCIAL TRUST CO INC 39 a sTATTIsAT PIreCO March 1.2005 no0OUGH march 31.200s APC*017 wines Trades Executed Pending Settlement (continued) TAAPAYER MSISCR On File LAST inkteueer Feenary 28.2066 semewEra TRADE OAR TROJOAC11Cti 0fS0WT0ll SrA3OLCASP gummy ON^3 MC MACAW MEM MOOR 04/18/05 03/14105 BOUGHT FNMA-15YR(FN/44.15)618 5A82366 20.000.000.00 97.7734 19.554.687.50 SETT.04.05 DUE 04/01)2020 04.500% 0987280211332 0 04/18635 03/09/05. SOW RU * 2006031457040000 BS FNMA-15YR(FNMA•15)GTD SETT.04/05 SA82366 •20,000.000.00 97.9531 19.590.625.00 DUE 04611/7020 04.500% -n 04/18/05 03/15/05 SOW 0987016110332 REF • 2005430957590000 BS FNMA.1SYR(FNIAA-15)GTO SA82366 .20803.000.00 97.7421 19,548437.60 C SE11.04/05 DUE 04/01/2020 04.500% rn 04/18)05 03/29/06 BOUGHT 0987135514332 REF • 2006031557250000 85 FNMA-15YR(FNIAA-16)GTD SA82462 20.000.000.00 101.4843 20,296,875.00 520.04/05 DUE 0401/20W 05.503% 0987135514332 REF • 2005032967130000 BS AS OF 03/2945 04118105 03/30/06 BOUGHT FNMA.15YR(04184.15)GTO 5482462 r SETT.04/05 DUE 04)01/2020 05.500% 0987797115332 20.000.000.00 101.6406 20.328.125.00 REF • 200503306711[000 BS 05/12/05 03/31/05 BOUGHT FNMA.30YR(FNIANGTO SA79993 20.000.000.03 97.4921 19.498.437.50 SOT45/04 DUE 0901/2034 05.000% 0987135514332 REF • 200503315714000D BS LEZTS£00- 019- ANGS 027 0001106.0040 C01 V0711 EFTA01260542 CLEARED THROUGH in WHOLLY Owner SLOSOLARY OFFICE SERVICING YOUR ACCOUNT Wt. Sawn Sacra*. Cop. Bear. Steams & Co. Inc. BEAR 383 Mattson Avenue New York, New York 10179 One Meactsch Enda Nat Omen Pres Von 11201.3559 STEARNS FINANCIAL TRUST CO INC 40 o. 40 EMMEN, KHOO March 1.2005 H4.01.10H March 31.2005 ACCODN'T Ma Trades Executed Pending Settlement (continued) TAXPAYER HAMM On EN LAST suntmENT FeNutny 28 2005 SEMIEMEXT TRADE DATE DATE TUNSACTON DESCAPTICar SOMDUCUSS9 OJAHMV PRICE DEW Meat CROW MCOIR 05/12/05 03/31/05 BOUGHT FNMA-30YR(FNMFOGM 5A82389 zo.coacamo 99.8906 19.978.125.00 SOLOS/05 DUE OS/Di/203S 05.970% 0987021011332 REF • 2005033I57150:00 85 TOTAL 1376,638,595.27 5368,120,306.10 z Tie Sin ram brae/ow Haar 0 sear re am ruieHrt -n C End of Statement rn z -H r SEZTS£00- 019- ANGS C27 34.31.36 09 49 031 'VA EFTA01260543 0.50110 THROUCin rTS vilat , OWNED ST.SSOANY OFFICE SERVICING YOUR ACCOUNT Inc. Nairn Seroabes Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New Yak. New Yak 10179 Ole Nemeth Calla New likis 112014559 STEARNS FINANCIAL TRUST CO PIC ACCOUNT EXECUTNE GNMA GOVT BONO STATEMENT KANO February 1.2005 VISIT OUR MSSITE wynicbearsteams.com MAPCO., February 28.2005 ACCOUNT NLMINA What's In This Statement I 122/Xellk NM& it Cu File LAST STAMITENT laruary 31. 200$ Financial Summary 3 FINANCIAL TRUST CO INC Your Portfolio Holdings 4 CIO JEFFREY EPSTEIN Transaction Detail 7 6100 RED HOOK QUARTER Trades Not Yet Settled 37 STE 83 ST THOMAS VI 00802 0 z ii C Your Portfolio at a Glance Market Value of Your Portfolio rn TOTAL VALUE OF SECURTTIES TH6 PERK* 1.1 75.677 Cat' a Equrnaan 6 735.828 z LONG ACCRUED MEREST 4.920 Reed S976.344 51.175.677 Kaye 5'0.655.868 NET CREDIT BALANCE 336.828 MI Current market Ltaa NET ECIUTre 111M PERIOD S1,517,425 IIIII Met staternsYs manes value r NE1tOunr IAST STATEMENT 11,740.244 CHANGE SW LAST STATEMENT -10.222.820 There are no Stop Loss* orders or other pending buy or sell open orders on file for your account. _ 6£ZTS£00 IN9 ANGS sitc unmm is er MermabLeel erpliert eTNOTd ate UT NeluileN. TNT sINOTait Neale of reared fee fur nuns Et mien ON Fee etesertart ti... 021 0101/06.11 Oa e01 0372 I EUZZOO- Vid3 EFTA01260544 MUM 114.034"..04 ITS voi404, 06•6340 Su13510Wil OW Stem Starites Cap. ow larrcisch Cons Norm IPSO^ New Rea 11201.38S9 FINANCIAL TRUST CO INC 2 d 36 0 z ii STATEMENT BACKER IS PRINTED ON THIS PAGE C rn z -H r OPZISE00- 019- ANGS 027 034103:110i 001 V$372 I S IJ IJ La Is) EFTA01260545 CLUACO IWICOSH IS WHOLLY 02200) 9011310MY OFFICE SERviCzYG YOUR ACCOUNT Beet. Steams & Co. Inc. Bear. Sun Seance. cap. BEAR In MaPeon Avenue ork 10179 Ore Wray" Oyu 1400, 0,22620% .422. at 20 1060 STEARNS sksi FINANCIAL TRUST CO INC 3 en STATEMENT 1.02200 20001022 1.2000 TWIC00.4 February 28.2005 accouar Cash Flow Analysis Income Summary TAXPAYER MAW On U. led P0000 Mt; PIP000 YEAR to 04% LAST summer January 31.2005 OpeningBalance 5976.344.40 U.S. Gee. Bond Int. 2.046.727.15 2.331.844,56 Govt. Agency Int. 673,909.66 1.329.239.69 SecurNes Sold 1.577.818.284.36 Corp. Boni Im. 124.771.86 254.949.30 DIvidencisAmerest 2.846.165.17 Credit Balance Int. 756.50 756,50 Miscellaneous 86.598.03 0 Amount Credited 51,590,751,047.56 Reverse Repurchase kit Total 267.946.52 53,114,111.69 503,374.01 $4.420.164.06 z -n Secumies Bair DiedenchAntetest Charged 4,579,710,263.75 -1.601.047.44 Bond Purchase Int. Repurchase Im. Exp. -1.601.047.44 -104,943.86 -2.190.436.95 422.965.23 Miscellaneous C -79,253.13 rn Ans3unt Debited 5-1 581 390 564.32 Portfolio Composition z Net Cash Aaivity Closin9 Balance -639.516.76 Cashtash Equivalent 336.828 Your Portfolio 5336.827.64 Fixed Income 1,175,677 Allocation Total $1,512,505 r Cash Balance Summary C.0214 0.0504 CIO & Equhale 23% Menin 976,344.40 336.827.84 Net Cash Balance 5976,344.40 1336,827.64 TPZISE00- 019- ANGS cited income 77% ~ion mere 01070 00010ane ..ea Vve. ,Ma[ nun Ps .balm pro-tn. ern., lee iv nibble male! vbiut a yea., butt 027 03C1e6:11 co cm 1¶72 I8 IJ IJ vt, EFTA01260546 CLEARED 11010513/4 103 MOLLY *ma SuestalWrc OFFICE SERVICING YOUR ACCOUNT Nit Dams swoon own Bear. Steams & Co. Inc. BEAR 383 Mention Avenue v 10179 0* *acme crow Paten Omar. Ss Teri 11:01.11139 STEARNS FINANCIAL TRUST CO INC 4.. STATCUe35T 11/t00 rebury 1. 2005 TAW/4 February 282005 Your Portfolio Holdings ACCanT Pounce CASH & CASH EQUIVALENTS TWAYER KASKA On Fie LAST STATeute 11C1J21, 31. 2005 WARM ammo COMM 013CRPTON O&V, Tv MY, Ytuf A•01-su 5/C".4 n 110 nD CASH BALANCE TOTAL CASH & CASH EQUIVALENTS 0 FIXED INCOME m Government & Agency Obligations Pal A:1„,11)14 •STIUATTD 0$51C147 ci CILICRPTIN SAILIOLC1.151P inn C100 /11111 PM INSET NCNB ratlif.51 wont]. INCOME n1110 04 m FEDERAL 11010t01 LPG ASSN SERBS 2003-49 CUSS SW DATED DATE 003003 31393C7C6 MRGN 13.568337 8.1649 1175,676 4.920 590.223 50.2029 BOOK ENTRY ONLY 4.350% FACTOR ..5y21251 H FEDERAL NATIONAL MC ASSN 3136/C8Ct 78,8359 1 SERIES 346 CLASS 1 DATED DATE 11/01/03 r BOOK ENTRY ONLY DUE 1110112033 FACTOR - 1,00000000 Total GovemmeM& Agency Obligations 31.175.677 14.920 1590.223 TOTAL FIXEDINCOME 54.920 1590223 ZPZTS£00 IND ANDS YOUR PORTFOLIOHOLDINGSACCRUED INTEREST 54.920 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $590.223 YOUR PRICEDPORTFOLIOHOLDINGS 51.512.50$ 0101/06:1100 C01 '.1172 tE6EZZOO- V.I.d3 EFTA01260547 CERAM* 1141108014 MS MOLLY OvINCD SUCISCEARY OFFICE SERVICING YOUR ACCOUNT Beet. Steams & Co. Inc. Ow. San Sennle/ Cols BEAR 383 Madison Avenue Ole *Meth Como Peat Ortenr, kewo Yon 112014559 STEARNS 10179 FINANCIAL TRUST CO INC 5u6 STAESUFWE MOO Febnary I, 2005 nERCOCol Febrony 78.2005 Repurchase and Reverse Repurchase Transactions ACCOunt n,;m j 7µn3/3/10 e with Bear, Steams& Co.lne. outstanding as of date of statement NV SUYDAM January 31, 2005 IllAO.311 somas( mow PURCHASE PMCV 04201UID R080 01.14/MY START DAR DATE ROI Plarapu srtOEsr IfACE MCUKT) CUSP OESOOPTIEN YOU SOLD T4iNaGUNO0 GOVERNMENT NATIONAL MTG ASSOC (REPO) 01/1305 04/11/05 2.860 4,601,000 -9.711 42.100.000 383701387 SERIES 2004-S CUSS P 4.3518 02/70/33 YOU SOLO FANNIDALE 511W (REPO) gimps 04/11/05 2.860 -11.902.000 -44.440 40400.000 3130FAVE6 SERIES 329 CUSS PO 1101/32 YOU sous FANNIE MAE STRIP (REPO) 01/13/05 04/11.05 2.860 4.4013.030 43.919 -30.000.000 313610106 SERIES 353 CUSS 10 5.0000 0101/34 You SOW IRENE MAE S1RP (REPO) 01/28/05 04111675 2.860 -7.351.000 .18487 -35.000.000 31343FCLD5 SERES 353 CUSS 10 5,000G 07.01/34 YOU PROmDED FECEFIAL NATIONAL MFG ASSOC (MARGPO 02/07/05 OPEN COCO -50.000.000 31392J0K2 SERES 2003-13 CUSS 5.3500 03/25/33 YOU PROvIDOD GOVERNMENT NATIONAL MTG ASSOC (MARCIA) 02/09/06 OPEN 0.010 -4,300.003 383747087 SERFS 200E-5 CLASS P 4.3518 02120/33 YOU BOLD FANNIE MM STRIPS (REPO) 02/10105 03/1005 2.790 -3.784.000 4.571 4,500.000 3136FO(C9 SERIES 352 CLASS PO 07/01/34 YOU SOLD FANNEMAE SWP (ROC) 021605 03/10105 2,790 4.514000 -12.538 -20.959.779 3136FAWES SIRES 329 CUSS PO 12)01/32 YOU SOLD F/01/41D/AE STRP (REPO) 02/15/05 03/14/06 2.790 4.972.000 -4.309 -7.000400 3138FC8C9 SERFS 346 CUSS PO 1101/33 YOU PROVIDED FEDERAL NOME LOAN 51RIP EPZISE00-019-ANCIS VAARGDO 02/16/115 OPEN 0.000 44.000000 31282YON6 SERIES 227 CLASS 0 5.000012.11/34 YOU PROVIDED FEDERAL NOME LOAN ST emstee 02/17/05 OPEN 0.000 41000.000 31282YDN6 SERIES 227 CUSS ID 5.0000 12/01/34 07/ 010106:11W 001 21172 En I8 IJ IJ L.4 Lo EFTA01260548 CLEAR= 1101OUGH ITS m600:I 0-40 SLOSIDARY OFFICE SERVICING YOUR ACCOUNT Ow Ars Scones cos. Beet. Steams as Co. Inc. BUR 383 Madson Memo Nen York New Yo-c, '0179 0. kleratech tn. Pat Irma" New vat 112014140 STEARNS FINANCIAL TRUST CO INC 6 roosa mete (*Wary 1.2006 SIACUGH iebnAry 28.2005 ACM's YODER Repurchase and Reverse Repurchase Transactions (continued) mumna Rowan Cc file with Bear,Steams& Co.Inc.outstanding as of date of statement (continued) LLD' S78rEut8, :artx.rf 31. 2085 PultaoSEI RIPLItIPASt PACING PUROUSE PRIM ACCRUED REPO DIVIMY SORT DUI DUE PAU PRINOPAL MUM* Ma MOND WW Marco YOU SOLD USTR 4.000002t15/15 (-I (REPO) 02/1805 COEN 2.270 -29.475.000 -20.730 -30.030.000 9128280619 0 YOU SOLD (REPO) 02/22/05 OPEN 2.520 -3,322.500 .3.000.000 91291CFP8 USTR 5.3750 02/15/31 YOU SOLO FANNIEMAE STRIP m (REPO) YOU SOLD 02/25105 03/2405 2.890 -1.000.000 -321 -1.820.000 3136FC9C9 SERIES 346 CLASS PO FANNIEWE SWOP 11101/33 (REPO) 0228005 0371005 2.780 -9.695.000 -748 -25.000400 31351AWE6 SEINES 329 CLASS PO 1201/32 ci m YOU SOLD (REPO) 02/2805 03/28/05 2.920 -500.000 -40 -910.000 3136/CEIC9 FANNELUE SWOP SERIES 346 CLASS PO 11101/33 YOU PROVIDED FANNTEIAAE STRIP (WARM) 02/28435 OPEN 0.000 -4.270000 3136FC8C9 SERIES 346 CLASS PO 1101/33 H YOU SOUGHT USTR 3.1250 010007 (REVERSE) 02/23/05 OPEN 2.200 7.990.000 1,207 5.000.000 91282801 r YOU SOUGHT (REVERSE) 02/2465 OPEN 2.400 200.000.000 65.000 200.000003 9128280F4 USTR 3.0000 12/3106 TOTAL REVERSE REPURCHASE TRANSACTIONS 5207980.DEO Snail TOTAL REPURCHASETRANSACTIONS 3.41.522,540 4-142.560 Us II essones VVZTS£00 IND ANDS 027 01401.0811,30 D: 9£6EZZOO-V.I.d3 EFTA01260549 0.EARED DOM°. rs wn0a. PASEO SLOSIPARY orrict SERVICING YOUR ACCOUNT Bear. Steams & Co. he 80.1f. Dawns Sopron Dn. BEAR 383 Madison Avenue Me letetWOCh Cate Nati DalEAD now Art 112014550 STEARNS New York. New York 10179 FINANCIAL TRUST CO INC 7 as STAT514E0 PFACO FOIA.ggy 1.2005 THRC0004 February 28. 2005 Transaction Detail AcCOusn' MASER ', WAVER µAMER n no INVESTMENT ACTIVITY LAST 57A7ZYCNT January 31, 2005 SETTLOADO DATE DOE TRIATEACTION DESCROMON $110OCUEUEAT GUMMIT EMT MOJ(T aim ware 02,01/05 01/31/05 SOLD UNITED STATES TREASURY NOTE 912828016 -15.020.000 99.88750 14.953.125 .00 0 CUE 01/31/2007 03.125% /1 31 0988027496099 YEW 3.288 % TO MATURITY ACCR, NT. 1.294.89 0 0204/05 020105 SOLD OVER REF * G0311009 Al UNITED STATES TREASURY NOTE DUE 01/31/2007 03.125%11 31 912828016 45400400 99.80158 24.900.390.63 0988027496099 ACM MT. 8.632.59 YIELD 3.334 % TO IMMO? m 02/07,05 0210405 BOUGHT OVER REF *6034100B Al UNITED STATES TREASURY NOTE 912828001 4000.000 101.32422 9.119.179.69 DUE 11/11/2014 04.250% 111 15 C 0988280293099 YIELD 4.084 %TO MATURITY ACCR. NT. 68.156.90 in 02/07/05 024405 BOUGHT OVER REF w 60351017 Al UNITED STATES TREASURY NOTE DUE 11/1512014 04.250% MN IS 9128280C1 12.08%000 101.59375 12.191.250.00 SPECIAL INSTRUCTIONS ACCR, NT, 118.342.54 11ELD 4.050% TO MATURITY OVER REF * 60355379 A3 MYER 02/07/05 07/0405 BOUGHT MED STATES TREASURY NOTE 912828014 16.0311003 99.49219 15.918.750.00 CUE 12/31/2006 03.003% 10 30 0988200293099 a NT. 50.386.74 r 02/074.5 02104/05 SOW O YIELD 3,277 % TO LMTURITY VER REF G0351009 Al UNITED STATES 1REASURY NOTE 912929002 -20.000.000 99.71094 19.942.187.50 DUE 01415/201003.625%D 15 0968280293099 ACCR. INT, 46.083.54 YIELD 3,689 % TO MADAM GVER REF 0 G0351013 Al 02/0705 020405 SOLD UNITED STATES TREASURY NOTE 912828016 -15.000.400 88.75391 14.983.06494 DUE 01/31/2007 03.125% 11 31 SPZISE00- 019- ANGS 0988035598099 ACCR, 9.064.22 YIELD 3,254 %TO AUTUMN OVER Rita160351035 Al 027 ECL01/06:11.09 001 1972 rn I8 IJ IJ --3 EFTA01260550 O.LOAD Meal n's Edgar OvAdEO awARv OffICE SERVICING YOUR ACCOUNT Mr. Sawa Sea tem. Bear. Steams & Co. Inc. Ons lAsraisth Woe NNE BEAR 383 Madison MENA Nnw Y NamYogic 10179 Mglfn Net 1121 11201.3158 STEARNS FINANCIAL TRUST CO INC 8 e STATEMENT Krim feteury 1.2005 nARCAIIn Feteutcy 28.2006 Transaction Detail (continued) AccouNT MAW TAVAKN mmanEn On Fie INVESTMENT ACTIVITY (corainued) LAST STATEN)," Jimmy 31,2006 SETTIMERT TRADE an GATE TRAYSACTOM CESOAVIEN SmAIOSCLIMP °Warn* r9KE DE1/7 AYAISIT EROX1 ASPER 0207705 PEICIPAL FEDERAL NATIONAL MTG ASSN 3136EAL01 .95.853 STRIP MTG SERIES 322 CI. PO 0.001 DUE 0301/32 PRINCIPAL REOUCTN 02.25-05 0 02708/05 0207/05 BOUGHT EINEM STATES TREASURY BONDS CUE 02/192031 05.375% FA 15 0988016192099 912810FP8 10.000.000 ACCR. NT. 114.47266 11.447.265.63 258.525.81 MD 4 ....432 %TO MATURITY -n 02/08705 020705 SOLO OVER REF 0G0381001 Al UNITED STATES TREASURY (4340S DUE 02/1572031 05.375% FA 15 912810P8 -10.000000 11414688 JO. M. 11.454.687.50 258,525.82 0988280293099 C YIELD 4,428 %TO ISTURTIN GVER REF /00381002 Al rn 02/0905 0270605 BOUGHT UNITED STATES 1REASURY BONDS MO2/15/2031 05.375% FA 15 0988035598099 912810.78 10.000,000 ACCR. M. 114.75000 11475.000.00 259.988.41 YEW 4.416 %TO MARMITY OVER REF • 00391030 Al 02109(06 02/08/05 SOW MATEO STATES TREASURY 03105 912810FP8 -10.000.0W 115.79688 11.579.687 .50 DUE 02/15)2031 05.375% FA 15 ACCR. in 259.906.41 0988280293099 YIELD 4.354 %TO MILROY r 02/10705 OM1705 CANCEL SELL OVER REF • 60391003 Al nom..3001(FMANGTO 5A77303 10.400.000 101.25000 10.125.000.03 SET7.02/05 CUE 02/01/2035 05.500% 0987280211332 R6 • 2005011157220000 BS AS Of 01711/05 TO C31 PREVIOUS SELL woos 01/18105 CANCEL SELL FNU.A.30YR(F/844)GTO 5.477303 10.000.030 101,51563 10.151.562 .50 917ZISEOCIA19- ANCIS St17.02/05 DUE 02701/2035 05.500% 0987280211332 REf • 20050118.57000000 eS AS OF 01/18705 10 IDCL PREVIOUS SELL 027 010746:1180 091 VS72 rn 8 IJ IJ 00 EFTA01260551 swats nstOISOM ITS smCc.Y roon.eco Wawa.' OFFICE SERVO% YOUR ACCOUNT Beer. Stearns & Co. Inc. Bur surf, Secvnei cap BEAR 383 Monson Avenue N ' 10179 ITITsT Thstn500) Canty tesrin lirtaktp. — ork 20 n5.9 STMNS FINANCIAL TRUST CO INC 9 a as STAMITINT ITFATTS0 SeteAry 1.7005 THROUTIM febnary 28. 2005 Transaction Detail (continued) ACCOLTIC ?OWLS TIOOTTArp., war* on Fie INVESTMENT ACTIVITY (continued) WT STATDits1 January ST. 2005 Sfltl£NFM MAC( OATS CATS TemosSTITIN 000110110N SWIuSCUSP 0.01(rmr Flact Cur Ma3uor CREDO AVOW 02/1005 01/2005 BOIXOrt ilavr7a/R(FNIAA)GTD SA77303 101.73047 10.010.00) 10.173.046.88 SETT.02/06 ME 02101/2035 05.500% 0987016110332 REF • 2006012057390000 BS 0 02,10.05 02/0345 BOUGHT FNMA-301160840611) SC/T.020S anoDUE 02/01/2035 06.500% SA77303 10.000.000 101.80469 10.1324433.75 ns em332 -n 02/1006 01111/06 SOW REF II 2005020357720000 BS 11148-30YRCEN400670 SETT.02/06 SA77303 40000.000 101.25000 10.125.000 00 CUE 02/01/2035 05.500% 0987280211332 rn 0711005 01/18/5 SOLD REF • 2005011757220000 BS FNMA.30YRDIAIA)GTD SUT.02/05 5.077303 .10.003.020 101.51563 10.111.562.50 DUE 020112035 05.500% 09872 11 RU r 8202 0050118 33257000000 BS 02/10/05 01/2005 CANCEL BUY elam-30YR(770.9.1610 U77303 -10.003.000 101.73047 10.173.046 .08 SETT.02/06 CUE 02/01/2035 05.500% r 0987016110332 RE!? 2005012057390000 BS AS OF 01/2005 TO Ott PREVIOUS BUY 02110/06 02/0105 CANCEL BUY FNIA•030YR(ReANGID 6177303 40.000400 101.30419 10.180.411.75 SETT.02/05 DUE 02/0112035 06.500% 0987135514332 RU A' 2005020357720000 BS OF 0203)05 LPZISEOCIA19- ANGS TO AS Ca. PREVIOUS BUY 027 C0/01224:7102 001 1•72 I8 IJ V.2 La EFTA01260552 CuLOW) natarm na yMOLLT OPAWD SUSSOARY OFFICE SERVICNG YOUR ACCOUNT Dar. Soars Watt Cop. Bear. Stearns 6 Co. Inc. BEAR 383 6160isco Anna Y Y k 10179 Cat MeWorA Caw No OnWlyn. NA& rot 11201.3859 STEARNS MAKIN. TRUST CO INC 10 It valuta Pt February 1.2005 TWO.u0.4 Fatnary 28.2005 Transaction Detail (continued) Accom Alimiete TAXPAYER rowel On Fie INVESTMENT ACTIVITY (continued) arr rrainewr January 31. 2005 SETRENEKT TRADE DOE DATE TRANSACTOR DESOUPTION STWOLOMP ouuarr PRIX DEW NAOMI /Aron NA0u81 02/1005 01/20.06 BOUGHT FRIA4-30YRDWANGTD 5478976 10.000.000 99.65234 9.965,234 .38 5277.02.05 DUE 0201/20.34 06.000% 0987280211332 EF 2005012057000000 05 RSCf A *01/20/05 02/1005 01/2005 BOUGHT FNNM30YR(FMM)GT0 SA78976 10.000.000 99.65234 9.965.234.38 SETT.02O5 -n 02/10.05 02/03/05 GAUL SELL DUE 07/01/203A 05.0:014 090372130211332 REF • 2005012057000030 BS FRIA4-30YRINAUDG1D SA78976 10.000.000 99.70313 9.970.312.50 C SETT.02/06 CUE 0201/034 05.000% rn 0987135514332 REF * 2006020357760000 BS AS OF 02/03/05 TO C.XL PREVIOUS SELL 02/10/05 moms CANCEL BUY FNNAIDERONMOGTD 6478978 40.000,030 9945234 9.965.234.38 SETT.02O5 DUE 020112034 06.000% 0987280211332 REF a' 2005012057000000 BS AS OF 01120/05 TO 230 PREVIOUS BUY r 02/1016 01r20,05 CANCEL BUY FNNM30YR(04441G10 SETT.02O5 SA78976 -10.000.000 99.65234 9.965.234.38 DUE 02/0112014 MOW% 0987280211332 REF • 2005012057030CCO 8$ AS OF 01/20/06 TO OIL PREVIOUS BUY 02/10/05 02/03/06 SOW FirmAJOYR(FRIANGTD 5478976 -10.000.000 99.70313 t970.312 .50 817ZISEOCIN9- ANGS SET1.02)06 DUE 02701/2034 06.000% 0987135514 332 REF it 2005020357760000 BS 027 03.01006:1101 CO1 W72 r71 8 b.) b.) O EFTA01260553 CLUJ« TRROu314 na ~Ray OMCD SISSKRARY OFFICE SERVICING YOUR ACCOUNT Elem. Steams & Co. Inc. Bar Sirs ~lies ERR BEAR 383 Macison Avenue One Vicrouch One M at 11201.3859 STMRNS Now York. New Yak 10179 FINANCIAL TRUST CO INC 11 :e 3t sytromwr PURR Fatnaly 1. 2005 TRAO‘Rii ~Wry 28.2005 Transaction Detail (continued) ACODLNT R.I.R3ER IIIIIM TAXPAYER MASER INVESTMENT ACTIVITY (conUnued) LAST ETATEUERT bruary 31.2005 Minna WOE an DATE TRAMSACRON insc8Pme SYmeDUCSP QIWDUY DEW MEW Pau CREW AMER 02/10/05 12/30/04 CANCEL SELL MAL 30YR GTD SA81912 10.000.000 102.88438 10.298.437.50 SETT. 02/05 WE 0201/2035 06.000% 098728021132 REF 02004123057220000 8S 0 AS Cf 12/30/04 TO Ca PREVIOUS SELL 02/1005 12116.04 BOUGHT FNMA 30YR WO 5031912 10403,000 103.03125 10.303.125.00 SETT. 0205 DUE 02/01/2035 06,000% 0987031317332 REF # 2004121657=000 BS 0200/05 0101/05 BOUGHT now 3018 GTD SA81912 20,030.000 103.03125 20.508.250.00 SETT. 02/05 m WE 02.01/2035 06,000% 0987280211332 RES • 2036011157210030 BS 02/10875 02/CW05 CANCEL SELL ROM 30YR GID swim n000.oco 103.23438 20.645.875 .00 SETT. 02/05 DUE 02/01/2035 06.000% 0987280211332 REF I 2005020357740000 BS AS Of 02/01/05 TO at PREVIOUS SELL r 02/10.05 12/30.04 SOLD FNMA 30YR GTD SETT. 02/05 DUE 02/002035 06000% 5981912 -10.01:4030 102.98438 10.298.437.50 0987280211332 REF w 2004123057220003 8S 02/10106 12/18104 CANCEL WY DMA 30YR GID 5481912 -10.000.00D 103.03125 10.303.125 .00 SETT. 02/05 DUE 02/01/2035 06.003% 0987031317332 617ZISE00- IA19- ÅNGS REF w 2004121657320000 BS OF 116/04 TG AS CAL12 PREVKIUS WY on 0101MYVIRR 001 win En 8 IJ IJ EFTA01260554 Plata 11.03L0, as vm0t0 C000 SullarDar OFFICE SERVICING YOUR ACCOUNT Bear. &earns & Co. Inc. Ow. Stuns Sates CalL BEAR 383 Madison Meru° • ^ .79 Wrcue. Corow 01012) Nat Vol 11201009 STEARNS FINANCIAL TRUST CO INC 72 du STA/21107 Per000 Felnary 1. 2005 neouam feteully 28.2005 Transaction Detail (continued) ACCCam /0.1/A(R rA001111 1014101 On rae INVESTMENT ACTIVITY (400nued) LAST STATVIDJT January 31.2005 011104ENT T1LWI DAR ramsacnceT OCSCRP11011 0111110UtL61 COMM MCL 0011 M1C0111 CROP MOM 02/10/05 01/1105 CANCEL BUY nee 30W GM 5481912 .20.000.000 103.03125 20.606.250.00 SETT. 0205 DUE 02/01/2035 06.000% 0987280211332 REF 0 2005011157210003 BS AS OF 0111106 TO O. PREVIOUS BUY 02/10105 020305 SOLD FNIM MYR GTD 5061912 -20.000.000 103.23438 20.646.875 .03 SETT. 02/05 -n DUE 02/01/2015 06000% 0987280211332 REF • 2005020357740000 6S C 02/10405 01/31/05 BOUGHT FEDERAL NATIONAL MO ASSN SERIES 352 CUSS 1 3136FCICC9 5.063263 80.75000 4.019.069.53 in DUE 0701/2034 00.001% 0987027414332 REF • 2005013157900000 BS z 02/10.05 02/09/05 BOUGHT TO AD) PREVIOUS MONTHS FACTOR AS Of 01/31/05 UNITED STATES TREATTNRY BONDS 9128101PR 10.000.000 114.71875 11.471.875.00 00E01/15/2031 05.375% FA 15 ACCR. M. 261.44701 0988035598099 VFW 4.418 % TO MATURITY GVER REF • C0401000 Al r 02/1005 02/09/05 BCCIGHT uNITED STATES TREASURY BONDS 0U102/1'5/2031 05.375% FA 15 0988016192099 912810FINI 10.000.000 ACCR. INT. 115.63281 11563.261,25 261.447.01 YEW 4.364 67074011Rn GVER REF *G0401010 Al 02/10105 0209105 SOW UNITED STATES TREASURY WNW 912610EPIII -10.000.0:0 115.07813 11.507212.50 DUE 02/15/2031 05.375% FA 15 ACCR. NT 281.44701 0988035598099 YIELD 4.396 %no MATURITY OSZTS£00- 019- ANGS GVER REF 0 G0401005 A3 02/11/05 02/09/05 SOW FEDL 104.E LOW WO CORP*S02684 3122EVU57 -11.250.106 86.56250 9.738423.44 SERIES 218 CL PO DUE 020112032 0987031317332 REF * 2005020957420000 BS 027 03101/0•109 001 072 EFTA01260555 CLEARtO mean. RR CM&D SulttaisaY OFFICE SERVICE/6 YOUR ACCOUNT Beat. Steams & Co Inc. Ow. Sun Seo.rOits Cap. BEAR 363 Ma6sOn Avenue Cnr larratee Carte t.t Iasi lin/ -33$9 STEARNS New York. New York 10179 FINANCIAL TRUST CO INC 13 au STATEWNT Ott00 FObuary 1.200$ ThelCoOm Denary 28.2005 Transaction Detail (continued) ACCOUNT MAWR 2.701AYER MOW INVESTMENT ACTIVITY (continuoR LAST SIATIENOrt Unary 31. 2005 SETRWOIT TRW DATE DAIS TRANSACTION eaCitEmea SYVOCUCUsp WORRY Am WMMAW MIT MONT 02/11/05 02/10415 BOUGHT UPEND STATES TREASURY NOTE 912826001 10.000.000 101.66250 10.156.250.00 DUE 111152014 04.250% PAN 15 0968280293099 ACCR. WI. 103.314.92 YEW 4.054 %TO IALTDRON 0 02/11/05 02/10105 930 GVER REF /60411021 Al UNITED STATES TREASURY NOTE CUE 11/15/2014 04.250% MN 15 912828001 4.000.030 101.84375 5.092.187,50 0988016192099 ACCR, M. 51,657.46 -n 02/11/05 XURNAL YIELD 4,019 % 70 MATURITY WIER REF • G0411011 Al Met mAE OACUSFRIES 2003.13 31392/0102 S RCR4/0 ILTR C 5.470 DUE 03.25/33 in ROAST POSMON 02/14105 02/10/05 BOUGHT FEDERAL NA11011AL MEG ASSN 3136K8C9 5.310.807 63.79888 4.450.290.63 SERIES 346 CLASS 1 DUE 11101/2033 0987797115332 REF 12005021057250000 OS 0211405 02/10105 BOUGHT FEDL NNE LOON MSG CORPES10109 322821/0106 9069.325 23.75000 2.343.964.90 SIRES 227 CLASS 0 ACCR. INI. DUE 12/0112034 05.000% 17,819.62 0987797115332 r 02/14/05 02111/05 SOLO RU # 2005021057364000 BS UNITED STATES TREASURY NOTE 91282110F4 .10.000.000 99,52734 9,957,734.36 DUE 12/3112006 03000%10 30 SPECIAL INSTRUCTIONS ACCR, AN 37.292.81 YEW 3.261 % TO MATURRY OVER RU iii G0422831 A3 VAVE8 02/14/05 02/11/05 92.0 UMTED STATES TREASURY NOTE 912828014 -15.0O3.000 90,47656 14,921.4134 .38 DUE 12/31/2006 0300091.0 30 ACCIL MT. 55.939.22 ISZTSEOCIN9- ANGS 0988726998099 YEID 3.289 % 10 14411IRMI GVER REF 100421020 Al 02/14/05 JOURNAL FUN. HOME LOAN MSG CCONIS02684 3128CVUG7 SERIES 218 CL PO DUE 02/01/32 027 0301/04.11:00 ON 5172 ril 8 b.) NJ EFTA01260556 CLEARED TKIOUGH WHOLLY OA* SLIOSCCARY OFFICE SERVICING YOUR ACCOUNT Beet. Steams & Co. Inc. Isar Sammy 5010beS Cota. BB R 383 Ma650n Avenue. 0179 meucacrt Cent last 11201-3159 SIMMS FINANCIAL TRUST CO INC 14 0! la ST0115aNT Pyre°, rerun 1.2005 71a05CO3 Fettuary 28.2005 Transaction Detail (continued) reCOJIY/ ranalac TAXPAYZOI totem On Fie INVESTMENT ACTIVITY (continued) LAST STATO1041 January 31.2005 UMWOn 1000 DAR 0Lh 19.116001011 crtsatsmoN SIMIOUCuSS WSW PACE OESITAIJOUY1 CRIO0 WOW 02/15/05 12130034 BOUGHT n90-15YRONMA-15)GTD 5482209 11400.000 102.97656 11.327.421 .88 5871.02175 DUE 02/0112020 06.500% 0987280211332 REF so 2004123057230300 BS 02/15/05 12/1604 MOB. SELL FNIAA.15YRIFNMA-15)GTEI 5/182209 11,000.000 103.10938 11,342.031 .25 S(71.02105 DUE 02/01/2020 05.500% 0037031317332 ii REF 41 2004121657330300 85 *SOF 12/16/04 TO al PREVIOUS SELL C 02/1505 12/30.4)4 CANCEL SW FMAA-157011844.15)MD SETY.02/05 502200 -11,030.000 102.97656 11,327.421 .88 in DUE 02/01/2020 05.500% 0987280211332 REF s 2004123057230000 BS AS OF 12/30'04 10 OIL PREVIOUS BUY ....82....E 02/15105 12/16/04 SOW FNM1,15YRIFNIM-15)G1D 5482209 .11.030.00D 103.10038 11.342.031.25 SET1.02/05 CUE 02101/2020 05.500% 0987031317332 REF /1 2034121657330000 as r 02/15/05 02/11/06 BOUGHT TECERAL NATURAL 147G ASSN SERIES 346 CLASS 1 DUE 11/01/2033 313MCBC9 6.310.807 03.34376 4,426,226.03 0987000510332 REF 0 2005021157150000 BS 02/15/06 02111.05 BOUGHT FEIX HOW WAN NIG COPP41510100 312821tN6 9.869.325 23.81250 2.350,133.23 SERIES 227 CUSS 0 ACCR, M. 19,190.36 DIX 12/01/2034 05.000% 0987003510332 ZSZTS£00- 019- ANGS REF •P 2005021157140000 BS 02/15,06 02/14/05 SOD UNTIED SUNS TREASURY BOWS 91281074 4.000= 113.91797 2,278,359.30 DUE 02/192031 05.375% FA 15 0988280293399 YIELD 4,46.5 % TO FM URITY GVER REF 000451004 Al 027 03.011061101 COI 2/72 rri 8 b.) IJ EFTA01260557 CLO.RO3 THROUGH MI masa OineD Malleleke %FEE SERVICING You* ACCOUNT Bea. Stearns & Co. Inc. Out Sam Swain CD* BEAR 383 maoson Avenue New York. New Yak 10179 One eneenceen Cs Nash Y motaiSe STURNS FINANCIAL TRUST CO INC 15 ax owned,' FENCO Febusy 1.2075 nytcose eetruary 29.2005 Transaction Detail (Continued) Arta na Innen texPAyet when It Di Ink, INVESTMENT ACTIVITY (continued) LAST ST/4104M lanua-1 31.2005 SEIROJEIR TRADE DOE 911E ntANSICION mammon SIIIBOUCUSIP Demmer Man AMOUNT Olnel AinXINT 02/15/06 02/14/06 SOLD WEED STATES TREASURY NOTE 912628001 .15,000.000 101.22266 15.183,398 A4 CIA 11115/2014 04.250% MN 15 0988726998099 162.016.67 YIELD 4096 % TO MATURITY GVER REF 100451015 A3 02/15/05 02/14/06 SCUM UNITED STATES TREASURY NOTE 91282801 5.000000 99.57813 4,978,906.25 COE 01/31/2007 03.125%11 31 0988035598099 PCCR, M. 6,474.45 -n 02/15.435 02/14/05 BOUGHT VIEW 3,34911 TO MATURITY GVER REF 160451020 Al UNITED STATES TREASURY NOTE 9128280/6 20000,000 99,80156 19,920,312,50 DUE 01/31/2007 03.125%11 31 ACCR, INT, 0988280293099 25,897,79 in YIELD 3.336 % TO MATURITY GVER REF • 60451008 Al 0241505 02/1405 BOUGHT UNITED STATES TREASURY NOTE 912$200A 50.000.000 99.60156 49.800.781 .2.5 DUE 01/31/2007 03.125% II 31 0988280293099 ACCR. INT. 94.744.48 YIELD 3.336 %TO MATURITY OVER REF 160451008 81 02/1506 0211405 SOW UNTIED STATES TREASUIC, NOTE 912828%5 -35.000.000 99.58594 34.855.078.13 DUE 01/31/2007 03.125% Al 31 ACCR, M. 45.321.13 09882%093099 r 07115/05 MRCP.% YEW 3.345% TO MAMMY OVER REF • 00451012 Al FEM. NOME LOA/4 DM COP9•502684 3128CVUG7 35,717.02 DUE RE02 01/2L PO 32 PRIN TVO 01-05 PA) 02-15-05 POO a I 0.0000 02/15/06 PRITCPAL FE% NOME LOAN DM COPP•502684 31280447 236.522.48 SERIES 218 Cl. P0 ESZTS£00- 019- ANGS CIA 02/01/32 PROT WO 01-05 P002-15-06 REPO P & I 0.= on 03.010•1101 001 Wit EFTA01260558 0.0.000 T.00VON Ent ma' Ove4EO SUISOARA OFFICE SEFMCRW YOUR ACCOUNT Bear, Steams & Co. Inc. km Sxem Securifes cc BEAR 3B3 lAactson Avenue Cre idevevet Caw len v l .3*S9 STERNS oh 10179 FINANCIAL TRUST CO INC 16 an STATIMBAT same February 1.2005 meormrt February 252005 Transaction Detail (continued) ACCO.PIT tweet TAXPAYER WISER On Fla INVESTMENT ACTIVITY (cortinued) mar mamma /mum 31.2005 SM110.00 TRADE DAR OAR ntARIACTON DESCRIPMCW 500301./CUSIP Gummy CWT an' CREDIT MOUNT 02/15/05 PRINCIPAL FEDERAL HOME LOAN MTG CORP 31392T6E2 -308.611 SUES 2483 CL St 4.010 DUE 03/15/32 PRINCIPAL REDUCIN 02.1545 0 02/15/05 PRINCIPAL FEDERAL HOME WAN MEG CORP SUES 0 CUSS U 4.810 D5302/15/32 31393FAF3 -34Z355 PRINCIPAL REDUCER 02-15-05 -n 02/15(06 PRINCIPAL FEDERAL HOME LOAN MEG CORP SEM 2526 CUSS SI 4.410 DUE 02/15/32 PRINCIPAL SEDUM 021505 31393/688 44%854 C 0206105 0211405 SOW FEDERAL NAnomu MTG ASSN 31361401 -3478.277 88.12500 3.080.068,74 rn STRIP MTG SERIES 322 0. PO DUE 03/01/2032 C0.001% 0987022118132 REF • 2005021457720300 BS 02/1805 02/15/05 SOUGHT UNITED STATES TREASURY some 912810198 10.000.000 113.59575 11.359.375,00 DUE 02/15/2031 05.375% FA 15 ACCR. UK 1.484.81 8035598 098D 4,484099 YIEL %TO I.4011MHY EVER REF • G0481020 Al r 000605 02/15/05 SOLD UNITED STATES TREASURY BONDS WE 0205/2031 05.375%1A IS 0988728998099 YIE 4,472 % TO IAAR 9Thenfle -10.030.000 113,60076 ACCR. INT. 11.380 1:4 084 78)30 ,13 GARLD REF • G0481014TUAlITY 02/1105 02/15/05 BOUGHT Lento STATES TREASURY NOTE 912828001 1.000.000 101.19022 3.03.5.978.58 CUE 110572014 04.250%691 15 ACCR. INT. 34755.63 09093728998099 YEW 4,099 % TO MATURITY OVER REF • 60441008 A3 PSZTS£00- 019- ANGS 02/17/05 canvas SOLD FEDERAL HOME LOAN MTG CCRP 3139218U .1.592.201 7.15425 120.162.57 SERIES 2483 CL SL ACCR. M. 412.14 DUE 03/15/2032 04.410% 0987022118332 REF 12005021756240000 BS AS OF 02/1NOS 027 03.01/06:111)0 001 672 EFTA01260559 CLEARIO TH9Ounm rtS ww0LLY OWNiD SutSOARY OFFICE SERVICING YOUR ACCO20 Bear. Stearns & Co. Inc. ta. Simms 50,41595 BURR 383 Madison Avenue siss C0e lietrotech Caw Noti 112014859 STBSRNS 10179 FINANCIAL TRUST CO INC summer PERIOD 'emery 1.2005 THROU01. rebury 28.2005 Transaction Detail (continued) ACCOUNT VLAMER TAWAYIER 104CR On File INVESTMENT ACTIVITY (cortiroed) Loy syAroco *wy 31.2005 SMIDitte TRAM OAK TRA551409.4 CISCRPT011 1111001XUSIP OWeiftlY Met OMIT AM:514T CROW Wail 02/17/05 02/14/05 SOW FOWL NOME LOAN MTG CORP 3139278E2 (-I .10.944.806 7.15625 783.23748 SERIES 2483 CL SL CUE 03/15/2032 04,410% ACCR. MT. 2.581.48 0987022118332 0 02/17/05 02114/05 SOLD REP • 2005021756230000 8$ AS OF 02/14/05 FEDERAL ICNE LOAN MTG CORP 31392032 .10444,007 9.40625 1,029,495.91 SERIES 2488 CLASS SO m DUE 03/15/2032 05.520% ACCR. MT. 3.289.52 0987022118332 REF • 2005021457330000 BS 02/17/05 02/14/05 SOLD FEDERAL MAE LOAN MTG CORP 313931A13 4.4474344 8.00000 195.827,54 ci SERIES 2530 MASS M ACCR. 654.12 m DUE 02/192032 04410% D987022118332 REF • 2005021755220000 BS AS OF 02/14/05 02/1735 02/14/05 SOLD FEDERAL HOME LOAN MG CORP 313931A$3 .12.239.221 8.00000 979.137.72 SERIES 2530 CLASS SE ACCR. 3.270,59 H DUE 02/15/2032 04.810% 0987022118332 REF • 2005021758210000 BS AS a 02/14/05 02/17/05 021405 SOLD r FEDERAL HOME LOON MTG CORP SERIES 2526 CUSS SI DUE 02/15/2032 04.520% 0987022118332 31393/086 4.300.069 7.15625 ACCR. M. 450.847.99 1.543.52 REF I 2005021457310000 ES 02/17436 JOURNAL FEDt HOME LOAN MTG CORP•S10109 31282YON6 1 SUMS 227 CUSS 10 5.000 DUE 12/01/34 02/1836 02117/05 SOLD UNITED STATES TREASURY BONDS 912810FPS SSZTS£00 IND ANDS 4.030.000 112.18159 2.243.671 .811 DUE 02/15/2031 05.375% FA 15 0988726998099 ACM. INT. 090.08 YEW 4.569 % TO MATURRY GYER REF # 60481004 Al 027 WA1.16:11AS an /472 061ZZOO- V1.43 EFTA01260560 CLEARED 04:10.04 rte IM.O.LY Creme) SuLESIXpltv OFFICE SERVICMG YOUR ACCOUNT her. SxErns SWIMS Cap. Bear. Steams & Co. Inc. BEAR 383 Ma&Ton MIMIC! New York. New York 10179 Ore /AMMO Cemer I11 Broabn. Raw Yak 11X84850 STEARNS FINMICIAL TRUST CO INC 18 ot3e roamer IVACO reteum 1.200$ THIIC00e. Canary 28.2005 Transaction Detail (continued) PCCOUNT Nunglt TAXPANZR NOME, INVESTMENT ACTIVITY Icontnume Lar S'Attit.NT Xlesari 31.2005 SETIMIEWI 180E Oat °Alt 1R.USC11N DESCRIPTION SYMEOLCUSP OUPHIPIY PRICE CUM ppOule MCC Amain 02/18/05 02/17/05 SOW UNITED STATES TREASURY NOTE 9128280C1 /10.000.000 100.48438 10048.437 .60 DUE 11/15/2014 04.250% MN 15 ga. INT. 111.533.15 0988027496099 rem cue it TO MATURITY 0 02118105 02/17/06 SOW OVER REF 1 60481014 Al UNITED STATES TREASURY NOTE CIA 11/15/2014 04.250% MN 15 912828001 -35.001000 100.48814 ACCR. M. 35.170.147.95 390,366.02 0968016192099 -n 02/18/06 02/17/05 BOUGHT YEW 4.168 %TO MATURITY OVER REF • G0481028 Al UNITED STATES TREASURY NOTE 9128280149 35.001000 98.56250 34.496.875 .00 DUE 02/15/2015 04.000% FA 15 ACCR. NT. 11.802.21 C 0988016192099 YEW 4.177 II TO MATURITY in 02/19/05 02/17/05 SOW OVER REF • 00481022 Al UNITED STATES TREASURY NOTE DUE 02/15/2015 04140% FA 16 9126280119 -5.000.003 98.51583 ACCR. 811, 4,925.78125 1.657A6 098803559E/099 YIELD 4.1113 %TO AUTUMN GVER REF a G0481033 Al 02/22/05 02118/05 SOLD UNITED STATES TREASURY BONDS 912810FP8 /IMO.= 11111328 3.333.398.44 CUE 02t15/2031 05.37596 FA 15 ACCR. MT. 1118.09 09887 996099 r 02/22/05 02/18/05 SOW YEW 26 4.635 %TO MATURE', OVER REF a G0491015 Al UNITED STATES TREASURY NOTE 9128280F4 40.000=0 -••••µ 99.26583 9.926.562.50 WE 12/31/2006 03.000% JO 30 ACCR. INT. 41922.65 0988728998099 YEW 3411 IL TO MATURITY OVER REF 4/ 504 91014 Al 02/23/05 02/22/05 BOUGHT UNITED STATES TREASURY Non 9128280/6 7.000,000 99,42969 6.960.078 .13 DUE 01/3142007 03.125% .0 31 9SZTSEOCIA19- ANGS ACCR. M, 11898.48 0988726998099 YIELD 3.431 %TO MAMMY GVER REF a 60531007 Al 027 080104.1109 Oa 872 8 IJ IJ 00 EFTA01260561 CLLARRO 1)0109091 ITS 9.900tre OWnr, WISOrafer OFFICE SERVICING YOUR ACCOUNT Bear. Swam 8, Co. Inc. Sam Sun Smote* CIO. BEAR 383 MEM= Aiewe Ov Lietnttecn Cow Not k 11201.3859 STEARNS 10179 FINANCIAL TRUST CO INC 19 an STATEllEra PEN,00 Febn.ary 1.2005 THItec,Cal Favo/ 28.2005 Transaction Detail (continued) ACC0uNT %Wee% .r•JcPA9ER APJ,481:91 INVESTMENT ACTIVITY (conthuml) LAST sTkrritENT January 31.2005 SETIIDAIIR Tt DATE OAR TRAFEAcnoeF CfSCASMON saiscuaa• Owiam Pax CM MOUNT cREOIT NANNY 02/24/06 0223/05 SOW UNITED STATES TREASURY NOTE 9128280F4 -5.030.000 99.26172 4,963,085.94 DUE 12/31/2006 03.000% JO 30 0968035598099 ACCR, WY. 22.790.05 YEID 3,414 % TO MATURITY 0 02/24/05 02/23/05 BOUGHT OVER REF 160541021 Al UNITED STATES TREASURY NOTE CUE 02/15/2015 04.000% FA 15 9128280149 5=0,000 ACCR NT, 98.18359 4,909,179.89 0988726998099 4.972.37 -n 02/24105 02/23/05 SOLD VIEW 4,225 %TO MADAM GvER REF • G0541017 Al UNITED STATES TREASURY NOM 912828049 3.000.000 97.98438 4.899.21%75 DUE 02/15/2015 04.000% FA 15 0988016192099 ACCR. INT. 4.972.38 YIELD 1250 % TO IMTURRY rn 02/25/05 PRINCIPAL GVER Ru /00541032 Al FEDERAL NATCNAL MTG ASSN STRP MEG SERIES 322 CI. P0 3138FALQ1 95,153.00 0.001 DUE 0301132 PRINCIPAL PAYMENT 02.2545 02/25/05 PRINCIPAL FEDER% NATIONAL IRO ASSN 3136/AWES SERIES 329 CUSS PO 184,177.56 DUE 01/01/33 STRP r 02/25105 PRNCPAL PRN RC 0105 PM 02454)6 REPO P 6I 0.0000 FEDERAL NATIONAL MTG ASSN 3138FAWE6 SERIES 329 CIASS PO 21%879.75 DUE 01/D1133 STRP PRA PM 01.05 PM 0245-05 REPO P 8I 0.0000 02125105 PRIOCIPAL FEDERAL NATIONAL MTG ASSN 3138FMES LSZTS£00- 019- ANCIS 263.815.70 SERIES 329 CLASS PO DUE 01/01/33 STRP PRA RV 01-05 PM 02.2545 REPO P 8I 0.0000 027 0301/06:1180 001 •172 EFTA01260562 CiµPEO DilICA04 ITS vnouy Ov.N£0 DAPIDARy OFFICE SERVICIRG YOUR ACCOUNT Beet Stew% Sauna Ca, Dear. Stearns & Co. Inc. Ore ~can tern me. BEAR 183 Madison Avenue 10179 NW WI 201 11159 STUNRNS FINANCIAL TRUST CO INC 20 vs STAMEN! PERICO FitflaVy 1,2005 T~3m Fettroary 262005 Transaction Detail (continued) ACCOINT TA)PAYM MIMI,CR On Ric µ1T s-A-cite January 11.2005 INVESTMENT ACTIVITY (Continued) ~Oa Ma Sweet/CUSP Ø PRICE OMIT AuColil CREPT MAXIIIT DATE CATE TRAsiCTICN DESCRP1101( 02/25/05 PRNCPAL FEDERAL NAnONAL WO ASSN 313930206 .222.841 SERIES 2003-49 CIASS SW 4.470 DUE 01/25,33 PRINCIPAL MUM 02-25-05 OVUM JOURNAL FEDERAL NATIONAL MTG ASSN 3136FCBC9 SERIES 346 CLASS 1 DUE 11101/33 -n TOTAL $.03.120,067.13 $452.722.36636 INTEREST in DATE 02/01,05 mscernee AVG BAL 584.5501T 1.503 0Necucusr outemrt Rat ea 006 ~it aeon Amman 756.50 021 CROCE MEREST 0106 02/15,05 FEDERAL FAME LOAN MSG CORP 31392T6E2 4,4100 48,724.18 SEWS 2483 Cl. SL DUE 0115/2032 4.410 MEREST PAYMENT 02-15.05 r 02/15A5 FECEILN. HOME LOM MID OCILP SERIES 2488 CLASS SO DUE 03/192032 5.410 313927/32 5.4100 51.578.80 IC RA 01-05 ND 02-1545 REPOP 8I 5.5200 02/15/06 FEDERAL 11CIAE LOAN MG CORP 31393FAF3 4,8100 81.820.82 SERIES 2530 CLASS SE DUE 02/15/2032 4.810 INTEREST PAYMENT 02-15-05 8SZTS£00- IN9- ANGS FEDERAL NOME LOAN INTO CORP 31393F086 4.4100 24.283.37 0211545 SERIES 2528 CLAM 5I CUE OW92032 4,410 MEREST PAYMENT 02-1505 027 03101/0k110. 00, M12 rn 8 IJ IJ O EFTA01260563 0.PARCo notPcx>. ITS vepOur tromp) SUPSCAAPP OFFICE SERWCWG YOUR ACCOUNT Bait Stems SecuPle. Cap. BEAR Bear. Stearns & Co. MG 383 Madison Avenue On. ~KEA Cats Mpth 0,0Xty' P. Nat Volt 1120148SO STEARNS New York. New York 10179 FINANCIAL TRUST CO INC 21 ax STATEstit PIERICO Februbp 1, 2005 THROUOI Feteuary 20 2005 Transaction Detail (continued) ACCOUNI 1104tet TAXPAYER Mae On Fie INTEREST (continued) LAST STATEMENT lailUagy 31. 2005 DAM OLSCRIPTPI SYIABOUCLII. COMM ItUt 159 WYr Al/C011 CR= WOW 02/15/05 UNITED SLATES TREASURY &MOS 912810FPS 54750 DUE 02/15/2031 5.375 268,750.00 IC WO 02-05 PD 02-15-05 022205 GOVERWENT NAIDNN. MTG ASSN 39374F007 0 4.4500 15.945.83 SERIES 2004-5 CLASS PS CUE 02/20125013 4.40450 e 01-0 PM 02-2 5 REPO PSI 4.4500 -n 02/22/06 GOVERNMENT NATIONAL MEG ASSN SERFS 2804-5 CLASS PS DUE 02/20/2033 4.450 WT R/D 01-05 PA)02.2005 38374F087 4.4500 81.954,17 REPO P & I 4.4500 in 0202305 GOVERNMENT NAT0w4. SAG ASSN SERIES 2004-5 CLASS PS DUE 02/202033 4.450 NEM CR INT FOR 212012005 PD 383741067 4.4500 156288.87 022505 FANNIE MAE 0.113ISERIES 2003.13 31392.092 5.4700 S RCR40 FLTR 124.771.88 DUE 0325/2033 5.470 R/D 01-05 P002.2545 REPO P & I 5.4700 r 02/2505 FEDEFuL NATIONAL LOG ASSN SERBS 2003-49 CLASS SW DUE 01/252033 4470 31393C2C6 4,4700 51.372.14 INTEREST PAYMENT 02.25-05 02/25/05 FEDERAL NAllONAL MIS ASSN 3136FCL06 &NCO SERIES 353 CLASS 2 120.606.00 DUE 07/01 5.000 PR MO 01.05 /2034 P/D 02-25-05 REPO P & I 5.0000 6SZTSEOCIA19- ANGS 027 N01AIk1TAP O 1 0472 rn 8 b.) b.) EFTA01260564 CUERO THAMES ITS An.CATT OATAD SUISOLTAM OFFICE SEFMCING YOUR ACCOUNT acs. Sten Storlis Cab Bear. We= & Co. Inc. BEAR 383 Mattson Avenue Neve Y N Y 10179 Cne Nemeth Dew WM dilkill20141159 STEARNS FINANCIAL TRUST CO INC 22 of A STATEMENT /moo Feteuery 1.2005 TiotOtES Fetinary 28.2005 Transaction Detail (continued) 04:COCAN: StNeen TAICONalt PAW On De INTEREST (0000111100) US? STATEITENI knotty 31.2005 DAR CESCOSTION SMAINSUOESTE Qum= RATE ra DEW ALCUIT CREOR MOM 02/25105 FEDERAL NATIONAL MEG ASSN 3136ECID6 5.0000 140.70783 SERFS 353 CUSS 2 DUE 07101/203/ 5.000 INT PJD 01-05 P/D 02-25-05 REPO P 6I 5.0000 TOTAL 51.056.136.65 -n REPURCHASE AND REVERSE REPURCHASETRANSACTIONS with Bear,Steams& Co.Inc. sonswort WAX C DATE DATE TRANSACTOR cOMAimett MODUCLOP 0/Awnr/ can SEEM MDR mew in 02/0106 RECEIVED UWED STATES TREASURY NOTE DUE 01131(200 3.125 OUE 01(371107 3.125 9128280/8 15.000.000 15.000.000 .00 DNA F03210133 Al RESALE AGREDAENT 02/04405 JOURNAL GOVERNMENT NA113101. WO ASSN 383747087 17.600.000 SERIES 2004-5 CIASS PS 4.450 DUE 02/20/33 TEM 10263237 At TERM REPO AGREEMENT r 02/04/05 JOURAMI. GOvERNMEM NATIONAL JAG ASSN SERIES 2004.5 CLASS PS 38374(007 -17,600000 4.450 CUE02/20/33 FITMARGN 10353211 Al REPO AGREEMENT 02104105 RECENED UNDID STATES TREASURY NOTE 9128280/6 25.0:0.000 25.400.003.00 DUE 01/31/2007 3.125 3.125 DUE 01/31/07 09ZISE00- O19- ANGS EOM F0350572 Al RESALE AGREEMENT 02/071135 JOURNAL FEDERAL NOG E LOAN WO ODD 313927/32 41.212.304 SERFS 2458 CLASS SO 5,_520 DUE 0311932 MD F0353354 Al REPO AGREEMENT 01/ COM1/05:1100 001 MPS rn 8 b.) IJ UT UT IJ EFTA01260565 ctsARED THROWN ns WMOur ONAMED SmaSisVarr OFFICE SERVICING YOLK ACCOUNT Bear. Steams 6 Co. Inc. Ilar. Sun Swabia Corm BEAR 383 medson Avenue 0-• Iderotetri Came Mx, Eracier. Pan rcti 11201.3959 STUNRNS New Y New York 10179 FINANCIAL TRUST CO INC 23 a Ts STATEINNT Primo FCOCLS7 1. 2005 THACmaN Eettuary 28 2005 Transaction Detail (continued) ACCOvia mate IMEPANEA roe On Pie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (tonoeuete LAST STATEMENT Lawry 31.2005 SEMEATENT TRADE WE DAN IREMS€11011 DCSOVEDCM TEVTIOUCWW EMANIITI DEW MOM CRS 'MUIR 02/07/05 JOURNAL FEDERAL HOME LOAN MEG Cede. 313921/32 11,212304 849.000.00 SERIES 2488 CUSS SD 5 520 DUE 03/15(32 Finn 10283232 A2 TERM REPO AGREEMENT 02/07/05 JOURNAL Mae MAE CMUSERIES 2003-13 31392/012 27.372.255 S RCR-VO FUR 5,170 01.E 03/25/33 -n FTDA 10383067 Al REPO AGREDAENT 02/0705 JOURNAL ANTED STATES TREASURY NOTE 912828801 31.0001330 31,1455.000,00 RIM Rolcete A2 C 4,250 DUE 11(15114 TERM REPO AGREEMENT in 02/07/05 JOURNAT. METED STATES TREASURY NOTE TIM 10380738 Al 4.250 DUE 11115114 912826001 -52.000.000 53.105.000.00 REPO AGREEMENT 02/07/05 teicENED UNITED STATES TREASURY NOTE 9128280/4 160.000.000 160400.0GO .03 CUE 12131/2006 3.000 3,cco DIE 12/71/06 MIA 10380743 Al RESALE AGREEMENT r 02/07(05 OEUvERED UNITED STATES TREASURY NOTE DUE 12/31/2006 3,000 DUE 12/31(06 3.000 1712526014 476.000.000 175,220,030.00 RDA F0310890 A2 TERM RESALE AGREEMENT 02,07105 JOURNAL UNITED STATES TRUSURY NOTE 912828062 20.000.000 19.925.000.00 RDA 10310758 AZ 1625 DUE 01/15/10 TERM REPO AGREEMENT T9ZISEOCIND- ANGS 00/07/06 RECENED UNITED STATES TREASURY NOR 91282$DX 5.000000 4,999,990.99 DUE 01/31/2007 3.125 1_125 CUE 01/31/07 MI 10380745 Ale RESALE AGREEMENT 03.01081100 WI 1172 I8 b.) IJ EFTA01260566 REAPED THAOJO4 ITS WWOLLV (NANO Sue:CARY 01110E SERI/at YOUR ACCOUNT Our Sun Soo.fias Dem. Steams & Co. Inc. Crit thocuch Crow WO. BEAR 383 Madison ATOMIC New York. New EOM 10179 Orcollyo. Neff Vol 11201.3.9) STURNS FINANCIAL TRUST CO PC 24 ot :a STAMEN', MOOD hamar, 1.2005 'mom Felnaty 282005 Transaction Detail (continued) ACCOLNT MAWR T. AVER NANO LOT /MANNINO January 31 2005 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) SIMEMENT OM% snocucusro Mum DUNI MOM Oa MONO ONE OWE MMSACTION CESCOPTO. UNITED STATES TREASURY NOTE 9128280)6 45.coocoo 15,000,000.00 02/07/05 DELNERED DUE 0101/2057 3.125 3.125 DUE 01/31/07 MEM 10321063 A2 O 02/07/06 IXUVERED TERM RESALE AGREEMENT LIMITED STATES TREASURY NOTE OM01/31/2007 3.125 9123290/6 45.000Doe 23.030.000.00 3.125 DUE 01/31/07 ii 02/07/05 RECEIVED RDA F0150572 A2 TEAM RESALE AGREEMENT MUTED STATES TREASURY NOTE 9129280/6 Ka= 49.999.999.99 DUE 3.125 C 01/31/200711D7 3.125 CUE 0113 rn 02/07105 MUST RDA F0380745 Al A RESALE ACAEDAD1r FEDERAL TOM LOAN MTG CORP 913927/32 657.97 SERFS 2488 CLASS Se DUE 03/15/2032 5.520 FIN 10283232 A2 REPO MEREST MEREST UNITED STATES TRFISURY NOTE 912028001 12.192.69 02/07/05 ODE 11/15/2014 4.250 nTm 10310806 A2 r 02/07/05 INTEREST REPO MEREST UMTED STATES TREASURY NOTE 912828014 64.271,35 DUE 12/31/2006 3.000 FIDE F0310890 A2 RESALE INTEREST UNITED STATES TREASURY NMI 912329042 7.372.25 MOMS INTEREST DUE 01/15/2010 3.625 RIM 10310758 A2 Z9ZISE00-019-ANGS REPO MEREST 9128280/8 3.229.17 02107/05 MEREST UMW!) STATES TREASURY NOTE W(0151/2007 3.125 MU F0350572 142 RESALE INTEREST Oa? cootuatilti Om rn I8 b.) IJ ,C+ .O- EFTA01260567 ~MD TsolOLKAI ITS OFFICE SERVICING YOUR ACCOUNT ~iv CAMSE0 gal:~ Bear. Stearns 5 Co. Inc. BEAR 383 Madison Avenue IlaaScen kart" COST. PIA Melsotech Linter Nash STEARNS Now Yoh. New York 10179 11201.3ese FINANCIAL TRUST CO INC 25 a SE STATEMENT enti00 id:nary 1,Ø5 TWIP:m›. SetaSASS/ 28.2005 Transaction Detail (continued) ACCCuxT lilAve*M REPURCHASE AND REVERSE REPURCHASE tAxPAYER WM«• TRANSACTIONS (confirmed) LAST STATENEST /army 31.2005 SCITLISAMT MAX OAR tun huammi ~TOM STIAIOUSIMI ~MIS SUIT ~MT 02/07/05 INTEREST URRO STATES TREASURY NOTE OtEDS MPOV41 912828016 DUE 01/31/2007 3.125 4.604.17 FILM 70321083 A2 RESALE MEREST 02/09705 JOURNAL GOVERNMENT NATIONAL MIG ASSN 38374F007 4.300.000 CLASS PS SERIESDUE 4.450 20004.52 270/33 MD 10403143 Al REPO AGREDAENT -n 02/00/05 MIRNAL GOVERMENT NATIONAL WIG ASSN SERFS 2044 CLASS PS 4.450 DUE 02/20/33 383747087 4,300.000 500.000.00 EMI F0283235 AZ TERM WO AGREEMENT in 02/0905 INTEREST GOVERMENT RATIONAL MG ASSN SERES 2004-5 CLASS PS DUE 02/2012033 4.450 383747087 465.00 Rua 70283235 A2 WO INTEREST 02/10105 JOURNAL FEDERAL NATIONAL MIG ASSN 3138FAM6 11,214.184 SERIES 329 CLASS PO 8.409.000.00 DUE STRIP 01701/33 FILM 70313080 A2 r 02/10105 JOURIUJ. TERM REPO AGREEMENT FEDERAL NATIONAL WC ASSN 3136FAWES SUES 329 -11.214.184 PO 8.514.803.0D CUE 01/01/33 CLASS STRIP DIM F0413328 Al REPO AGREEMENT O22Ø JOURNAL DCEML NATIONAL MIG ASSN 3136FCM9 .5.063.863 ESZTS£00- IN9- ANGS SERES 352 CLASS 1 3,784130.00 0001 DUE 07/01/34 MIA 70413299 Al REPO AGREEMENT Ø 080113MIM 031 N72 EFTA01260568 et Tan) TNAOUGN ITS Amour OTATGO SUSSOWitv OFFICE SERVICING YOUR ACCOUNT SAN SEWN SeCuiLAS Cap. Bear. Stew/ME Co. Inc. Cr* MerCATCA CAMS TEM BEAR 383 maciscn Avenue 10179 litoonAt Mw Tort 112014059 STEARNS FINANCIAL TRUST CO WC 26 ATM STATEMENT TENCO Fetruaty 1.2005 MINCLOT Fe/mg 202005 Transaction Detail (continued) Actor muslin TAAMANTR WINKS Cm NM REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) lAST vrAnnaorr Dun 31.2005 SLIRLIENT OAT( OAT( NEUETACTEN OESCRITTOK SWITSLCUSIE OUANTIN CCIE NONTI mow mesa 02/10.05 JOURNAL UNITED STATES TREASURY BONDS 9128101P0 -10.000.000 11,762.500 .00 FTIM F0411002 Al 5.375 DUE 02/15/31 REPO AGREEMENT 02/10/05 WREST FEDERAL NATIONAL LNG ASSN 3136FAVE6 6.446.90 SERIES 329 CLASS PC STFOP CUE 01/01/2033 0.000 -n 02/11/05 JOURNAL FITIA F03130430 AZ REPO NTIREST UNITED STATES TREASURY NOTE 912828001 52.000,030 53.106.000.00 TM F0380738 A2 C 4.250 DUE 11/15/14 in TERM REPO AGREEMENT 02/11/05 /CORRAL MED STATES TREASURY NOTE 9120280C1 47.000.000 56.140.000.00 /DM 10420887 Al 4.250 00E 11/15114 REPO AGREEMENT 02/11/06 JOURNAL FEDL MAW Law MEG 03RPIS02644 312130/U07 1.632.264 1,199,000.00 SERIES 218 CL PO DUE 02/01/32 MA F0203229 .42 70791 REPO AGREEMENT r ozn 1A:s5 JOURNAL Fitt NOME LOAN MEG CORPOS02684 SERIES 218 CL PO 3128CM] 9.717.841 7.600.000.00 DUE 02/01/32 FMA /0193183 A2 TERM REPO AGREEMENT OW 1/05 NIERST UNITED STATES TREASURY NOTE 912828001 11.181.55 CUE 11/15/2014 4.250 FELT F0380738 A2 REPO MEREST P9ZISE00- 019- ANGS 02/11.05 INTEREST FED. NINE LOAN MTG CORN/S02684 312SCVUG7 1.300.92 SERFS 218 CL PO DUE 02/0112032 0.000 FRIA 10283229 42 REPO INTEREST 027 0101/06:11/30 001 V•72 ET1 8 IJ IJ EFTA01260569 CalaieRS THRSUOP. ITS %WOLIN Ceilia SESSn.RY OFFICE SERVICING YOUR ACCOUNT am. Sion Sawn Car, BEAR Elear, Steams 8 Co. Inc. 383 Madison Antroct O.e Wont, Canis Myr, fitoser. Sty tit 201.3u9 STEARNS New York. New York 10179 FINANCIAL TRUST CO WC 27 nu STAnsillia PERI00 Febnary 1.7005 notoJai Fetnary 28.2005 Transaction Detail (continued) ACCOLINT Wan TAXPAYER Wan P. M REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (cominioin LAST STATEMENT bury 31. 2005 SallaENT 11240E DATE DATE SWISAC1011 DESCRIPIION SYMIWCUSIP crAwne OM MOW MCC OACIUki 02/11/05 INTEREST ROL HOME LOUT MTG COEIPc502664 3128CVUG7 13.110.00 C) SERFS 218 Cl. PO DUE 02/0112032 FfT/A 10193183 A2 0.000 0 02114/05 JOURNAL REPO MEREST FEDERAL NATIONAL TOG ASSN SIRES 345 CLASS 1 DUE 11/01/33 3136TC8C9 4.310.907 3.96200020 FITE F0453380 At REPO AGREEMENT 1 1 02/144)5 JOURNAL FEEL HOME LOAN TAG COPPoS10109 31282YON6 4180.325 2,155,000.00 SIRES 227 CLASS 10 5000 DUE 12/01/34 FIIM 10453189 Al rn 02/14/05 DEUvERED REPO AGREEMENT UNTIED STATES TREAD IRY NOTE DUE 12/31/2000 3000 9128210t4 .180.000.000 160.000.000.00 3400 DUE 12/31/06 MA F0380741 A.2 TERM RESALE AGREEMENT 02/16135 MOVED UNITED STATES TREASURY NOTE 912828014 185.000.000 tettooloco.co DUE 17./310008 3.000 3,000 DUE 12/31A36 r 02/1405 INTEREST FTTM 10450814 Al RESALE AGREEMENT UNITED STATES TREASURY NOTE 9128260// 67M66.67 DUE 12/31/2006 3000 ROA 10380743 A2 RESALE INTEREST 0211805 JOURNAL FEDERAL HOME LOON MTG CORP 313927132 10.944.807 SERIES 2488 CLASS SO 5.410 061103/15/32 S9ZISEOCIN9- ANGS FMIA /0383364 A2 TERM REPO AGREEMENT WI 03031.9.11:00 001 2112 I8 b.) IJ EFTA01260570 WANED InNOuGm ns vewaty OrmOD SUISIXARv OFFICE SERVICING YOUR ACCOUNT Ow beam Stone. Ca". Bear. Steens & Co. Ine. 0-• mentoch Cantu Mon BEAR 383 Madison Avenue Y Nes Yea 10179 mar 11201.3159 STEARNS FINANCIAL TRUST CO INC te a31 STATEmENT PEPICO FebUMy 1.2005 THROUGH id:fury 28.2005 Transaction Detail (continued) ACCOva Humeri TAxPATEN masa On Fie vat EMMERT January 31.2005 REPURCHASE AND REVERSE REPURCHASETRANSACTIONS ucntnuon SETTLEMENT TRW GATE b.R IRMISALMON OESCRPT04 SRAGOVOSP DAMN OUNT /YOUNT CMS AMOUNT 02/1$/05 JOURNAL FEDERAL HOW LOAN MIS CORP 31392/132 40.9444307 310.000.00 SERIES 2488 CLASS SO C) 5.410 DUE 03115132 141.4 F0463210 Al 0 0211SOS JOURNAL REPO AGREEMENT FEDERAL NATINAL MEG ASSN SERIES 346 CLASS 1 3136FC8C9 4.310007 3.972000.00 DUE 11101/33 -n 02/15105 JOURNAL ATM F0463248 Al REPO AGREEMENT FEDI. 1006E LOAN LOG MR1.4,510109 31282YDN6 4.869.325 2.125.003.00 SERIES 227 CLASS ID C 5.000 DUE 12/01134 in EITTA F0463244 Al REPO AGREEMENT 02/15105 JOURNAL MATED STATES TREASURY BONDS 912810148 4.000.000 9.067000.00 FMA 40460687 Al 5.375 DUE 02/15/31 REPO AGREEMENT 02/15106 JOURNAL UNITED STATES TREASURY FICNGG 9128101P6 10.000.000 11.752.503 .00 FTIM /0411002 A2 5, 375 DUE 02/15131 TERM REPO AGREEMENT r 02115105 JOURNAL UNITED STATES TREASURY NOTE MA 10460637 Al 912628001 .42.000.000 42.840.030.03 4 250 DUE 11/15/14 REPOAGREEMENT 02115/05 JOURNAL UNITED STATES TREASURY NOTE 912828001 57.000.000 58.140.000.03 EOM F04208/37 A2 4,250 DUE 1111 14 TERM REPO AGREEMENT 99ZISE00- 019- ANGS 02115/05 DELNERED UNITED STATES TREASURY NOTE 9128280/8 4.000.000 4.999.90919 DUE 01/31/2007 3.125 3.125 DUE 01/31/07 TM 40380745 A28 TERM RESALE AGREEMENT 027 03411/05:11/30 001 von 8 IJ IJ U EFTA01260571 GEARED PeetOUGH ..p.Ottv PANED SUPPIPAIre OFFICE SERVICING YOUR ACCOUNT( Bear. Steams & Co. Inc. Saw. Warm swum Cap. BEAR 383 Madison Avenue On. ~WO Germ Mat pmt Pa. Yen 11201.3859 STEARNS New York. New York 10179 FINANCIAL TRUST CO INC SIPTIpefle PCRICO Febuary 1. ?COS retray 28.2005 Transaction Detail (continued) ACOPINT WIMP TwAYER NOWA 00 Flit REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (ccednuad) uraT surerzwr lanuwy 31.2005 SETTLF).07 WOE DAR DATE IltAl6aCTON 84501011:44 IMAM/Ca MµNMY can mown MECO wan 02/15105 81-CMED UNITED STATES TREASURY NOTE 9128280/8 15.000,000 15,075,000.00 DUE 0141/2007 3.125 3125 DUE 01/31/07 FR/4 F0480624 13 RESAIE AGREEMENT 0 02115/05 DELIVERED LAIRD STATES TREASURY NOTE DUE 01/31/2007 3.125 DUE 01/31/07 3.125 9128280/6 -50.001C00 49,999,999.99 FITM F0380745 A2A m 02/15616 INTEREST TERM RESALE AGREEMENT UNITED STATES MAW, 80405 DUE 02/15/2031 5.375 912610FP8 3,777,07 rem F0411002 A2 ci REPO INTEREST m 02/15/05 INTEREST LIMED STATES TREASURY F40TE DUE 11/15n:014 ATM 10420887 A2 4.250 91282600 13.438,60 REPO MEREST 02115.05 INTEREST UNITED STATES TREASURY NOTE H 001/31/2007 3125 9128280/5 1.569.44 T039074 INTEREST5 A2O FITM RF SAIF 02/15/05 FAIREST r LNTED STATES TREASURY NOTE DUE 01/3 QIN F0112C07 it3.125 38074 5 a RESALE MEREST 9128280/6 15.694 e4 02/16.0.5 JOURNAL FEDERAL ICNE LOW MTG CORP 313927732 10,94e807 310.000,00 SERIES 24843 CLASS 50 5.410 DUE 03h 5/12 FEN F0463250 .0.2 TERM REPO AGREEMENT L9ZTS£00- 01D- ANGS 02/1806 JOURNAL FEDERAL HOME LOAN MG CORP 313927/32 40944,107 310.000.00 SE S 2488 CUSS SQ 5.410 ERIE DUE01/15/32 FILM F0483250 A3 TERM REPOAGREEMENT 022 03/01/01c11/11 4101 1,872 EFTA01260572 cumin Twos RS WMCUY OMB) 89980ARY MICE SERVICING YOUR ACCOUNT SW. Swims Secunfn Cs Bear. Stearns & Co. Inc. One lieroWch Coin WS BEAR 383 MarIson Avenue 0179 11201-38a STEARNS FINANCIAL TRUST CO INC 30 et ee 976111.8s7 KfaDO Eamon, 1.2005 rmitOual Cebu:9y 28. 2[05 Transaction Detail (continued) ACCO.N. NiA/WIR TAXPAYFFt mi.WER (1011n2/ REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST STATtlitla Aviary 31.2095 StraDADO TUX pnl DAft 99.9SACTIOM DISCRIMON SYMICUCUSP OuoNmy CC WI MA0018 CREDIT WOUVI 02/1605 JOURNAL GCNERNNOJT NAT:WA MTG ASSN 38374/087 22.100.000 2.601.000.00 SERIES 2004-5 CLASS PS 4.450 DUE 0220/33 C) FITM F0133269 A5 TERM REPO AGREEMENT 02/16/05 JOURNAL GOVERMENT NATIONAL MTG ASSN 38374/987 .22.100.000 2.601.000.00 SERIES 2004-$ CUSS PS 4.450 DUE 02/20/33 -n 02/1605 JOURNAL ATM F0133289 All TERM REPO AGREEMENT FEM. NOME LOAN LITO CCRPS$10100 312$2Y1X48 .13.817.058 SERIES 227 CUSS 0 C 5.020 DUE 12.0184 MA 10473174 Al in 02/16/06 JOURNAL REPO AGREEMENT Mt NOM LOAN MTG CO0010109 SERIES 227 CLASS 10 11287MNS .5.921.595 1.285.030.00 5.000 CUE 12/01/34 ATM F0473176 Al REPO AGREEMENT 02/16106 JOURNAL FEDI. 14061E LOIN MEG CORP9510109 312921906 9,889.325 2125.000,00 9912IFS 227 CLASS 0 5.030 DUE nrovs. r JOURNAL MA 10463244 A2 TERM REPO AGREEMENT FED. HOME LOAN MEG CORPOS10109 31282YDN6 9.869.325 2.156.000.00 OW 605 SERIES 227 CUSS 10 5.000 CUE 12)01/34 ATM 10453389 A.2 TERM REPO AGREEMENT 02/16/06 JOURNAL UNITED STATES TREASURY NOTE 912828001 42.000.000 42.840000.00 AMA 10480637 A2 89ZISEOCIN9- ANGS 4.250 DUE 111514 TERM REPO AGREEMENT 01/16.06 JOURNAL UNITED STATES TREASURY NOTE 912628001 -45.000.000 45.900.000.00 FRIA 10470849 Al 4.250 DUE 11/1514 REPO AGREEMENT 027 0101/06.1107 COI 8171 8 b.) IJ O EFTA01260573 Cucei0 "lai>. Orne SUSSOnar OFFICE SEFOACING YOUR ACCOuNT 8ear. Stedens 6 Co. Inc. Yen Suent Scoents Caen BERR 383 Madison Avenue Cne 1FtØ9 Cerner Cern &cale. Ne. Ton 11201-3859 STU\RNS New Yak. New York 10179 FINANCIAL TRUST CO INC sTATiure n*00 tebnAri 1.2005 rfleoure ietduary 28.2005 Transaction Detail (continuel) ACCOne mea" recPAYtn man On rue REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continuel!) US* Sternal« luruze, 31.2005 sentsuon 1R40t OVE Wt IfiticSACM44 Dt3CRInnOtl $‘740C.te15111 Oartai Wen mcgsa allOn IMOUICS 02/16/05 INTEREST FEDERAL Kea LOAN WC CORP 313921732 24.03 SERFS 2488 Ct4SS 50 DUE 03/1 /2 5032 5.410 MA F0463250 42 REPO INTEREST 02/16105 MERLU FECFRAL le« LM LOG CORP 313921/32 24.03 SERIES 2488 CLASS 50 OUF 03/15/2032 5.410 FITM F0463250 A3 REPO INTEREST 02/16/06 FJTEREST GOVERNMENT 2/AØ MM A5644 383701387 7,025.59 SERIES 2004.5 CLASS PS DUE 02002033 4.450 FM4 F0133269 A5 RER) INTEREST 02/16/05 INTEREST GOVISINMENT NA113t0.1.10G MN 38374FDB7 7.025.59 SERFS 2004-5 CLASS P5 DUE 02/20/2033 4.450 FMA F0133269 46 REPO NTEREST 02/1605 INTEREST FEN. »041E LØ MG CORP•S10109 312821006 164.69 SERFS 227 CIASS ID OUF 12411/2034 5.000 FITM F0463244 A2 REPO INTEREST 02/1605 MITEREST FEDL NOME ROAN LITS CORP4S10103 31282111146 334.18 SIRES 227 CIASS IO DUE 1201/2034 5.000 FIIM F0453389 A2 REPO WITAF-ST 0206/05 INTEREST DM= STMES 1RFASURY NOTE 912828001 261.80 DUE 11/15/2014 4.250 _ _ FM.4 F0460637 42 REPO »OUEST 69USE00 1ND ÀNGS 027 01.431/060190 Cel 1923 I 96£ZZOO-NiLi3 EFTA01260574 ammo 0,4000.1 erS «OLLY Ow«) SUBSCARY OFFICE SERVI" YOUR ACCOUNT Bey Sun Roars OS Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Ore Wow« Co« NO« reecepr. We yak 1120144« STEARNS FINANCIAL TRUST CO INC 32 tt SlereenT Into Felotary 1.2005 rencrucor «Ma« 26.Ø5 Transaction Detail (continued) 42.02411- SUNDER Tr4.4.11ER •Lireeft en Irde REPURCHASE AND REVERSE REPURCHASETRANSACTIONS (conUnued) Surnirei Sinai 31. 2005 SEnlimlm Ma« OAT( PAX 9.4/15.141104 OCSCRIPMPI 51144C4JCU5P 0.44111Y Carl SOWN MOO AVOLIIII 02.07A)5 JOURNAL FEDE HOME LOAN MTG CORP15101011 31282MN6 -5.921.595 MRCS 227 CLASS ID 5,003 DUE 12/0034 Ma 10493199 Al REPO AGREEMENT 0207/05 JOURNAL FEDE NOME LOAN MG CORP/510109 31281YDNE1 5.921.595 1.285.000.00 SERES 217 CLASS ID 5 000 ls FiTIA OM Ido78 A.2 F04731 TERM REPO AGREEMENT 02/17106 JOURNAL FEDERAL NOW LOAN MTG CORP 31392T.132 10.944.807 310000,00 SERIES 2488 CUSS SO 5.410 Ø03f1532 MA F0483250 A4 TERM REPO AGREEMENT 02117105 INTEREST ROL RPM LOAN MM QMP4510109 31282111146 99.59 SERES 227 CUSS la DUE 12101/2034 5.000 RIM F0473178 A2 REPO INTEREST - 02/17M5 MEREST FEDERAL HOME LOAN NM CORP 313921/32 48.05 SERIES 2488 CLASS SO DUE 0Y15/2032 5.410 FIlM F0463250 A4 REPO INTEREST 02R8/06 JOURNAL UNITED STATES TREASURY 8C4486 912810FP8 -8.020.000 8.712.500.00 MAI F0490611 Al 5.375 DUE 02115/31 REPO AGREEMENT 02118.05 JOURNAL UNITED STATES TREASURY ENRJOS 9128104Pa 8.003.00D 9.087.000.00 AM F0480887 A2 _ DUE 02/15.131 5 375 OLZISE00- IA19- ÅNGS TORM REPO AGREEMENT CORMS JOURNAL UNITED STATES MEASURE NOTE 912828001 45.0031:00 45.900.000.00 fRM t0470849 A2 4.250 DUE 11/15/14 TERM REPO AGREEMENT 027 0101/06:1190 LOl Veit EFTA01260575 amnia TAKAO+ MS vantre OARTGO SUSSOAAr OFFICE SERVICING RNA ecoDuer Beer. Stearns & CO. Inc. Sat. Stens Swan Cap. BEAR 383 MadISen Avenue Ere net-N-O Center NoT 1120141159 STERNS 10179 FINANCIAL TRUST CO INC 33u sTAIWINT Nam reCncey 1,2005 TAROuGAI fel:run 28.2005 Transaction Detail (continued) ACCOLrit NJussa IN= TAX...writ mum' e REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (centnuee) LAST ItTATDANT January 31.2005 SEMMES, MADII DATE OAR TraliSACTC0 DESOSHION SOALCAOAIP 080(MT OM NAOMI 0ID0 /NAM 02/18/05 JOURNAL UNITED STATES TREASURY NOTE 91282$0M9 40.000,000 29,475,030 .00 0 rrn.i F0490624 Al 4.000 CUE 02/15/15 REPO AGREDAENT 0 02/10A)6 MEREST LNTED STATES TWAtINY BONDS DUE 02/15/2031 5.375 912810FPS 1.807.30 z 02/18/05 FONT F0460687 A2 REPO INTEREST MEREST LIMED STATES TREASURY NON 912826=1 ii 11tI 5/2014 4.250 3.060.03 FIRM F0470849 A2 REPO MEREST C 02/22•05 JOURNAL UNITED STATES TREASURY BONDS 9128101P8 .3.030.000 in RDA F05306$1 Al 5.375 DUE 02/15/31 3.322.603.00 z 0222/05 JOURNAL REPO AGRUMENT UNITED STATES TREASURY BONGS FIN F0490613 A2 SIT 2810F713 6.000.000 6.712.500.00 5.375 DUE 02115/31 TERM REPO P.GREDAENT 02/22/05 DELNERED MATEO STATES TREASURY NOTE 912828014 -185.000.003 185.000.000.00 DUE 12/31/2005 3.000 r 3000 DUE 12/31/06 FITM F0450614 A2 TERM RESALE AGREEMENT 02/22/05 RECEIVED LIMED STATES TREASURY NOTE 91282BCO 195.000.000 104.756.250.00 DUE 12/31/2006 3.000 3.000 DUE 12/31/06 MM F0530664 Al RESALE AGREEMENT 02/22(05 INTEREST UNITED STATES TREASURY BONDS ILZISE00- 019- ANGS 912810M8 1,790.00 DUE 02n 5/2031 5.376 MIA F0490613 AZ REPO MEREST 027 01/01X6:110. 0)1 %1172 EFTA01260576 WARM 110000.4 rte woes( Crstit0 SitoS(M OFFICE SERVICING YOUR ACCOUNT Our Sun Scats Co,. Sew. Stearns E. Co. Inc. Cr* Iderstaech Cerro 'b BEAR 363 Medeson Avenue New Neck. New York 10179 • 113w nit 11201.3050 STEARNS FINANCIAL TRUST CO INC 34 a3 STATItir.:7 MUD, /dray 1. 2005 11•04.0... Fettuary 28.2005 Transaction Detail (continued) ACCOvra %%Mel 7,47Aren PrJIMEil On fee (anus.* LAST STAtEmetr 'arum,/ 31.2005 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS OAT! DA011 DATE CIUMITSY men .G.M01.00 CREDIT AvOLNI 00.12 TRANSPZION COMMON SY1031.C.C. INTEREST UNITED STATES TREASURY NOTE 912828/714 8474028 02/22/05 DUE 11/1112006 3.000 C) RIM 10450614 A2 RESALE INTEREST 0 02/23/06 RECENED UNTIED STATES TRE/SUfn NOTE CUE 01/31/2007 3.125 DUE 01/31/07 3.125 9128280)6 6.000.000 7.990.000.00 REM F0540900 Al -n 02/23/05 DEINERED RESALE IttfileN7 mote STATES TREASURY NOTE DUE 01/31/2007 3.125 912828016 -15.000.003 15/375000.00 3.125 COE01/31/07 FILM /0/60524 TERM RESALE AGREETADR rn 02/23.95 INTEREST UNITED STATES TREASURY NOTE DUE 01/31/2007 RIM F0460624 A4 3.125 9128280/6 3.400.25 RESALE MEREST DEINERED MATED STATES !RUSIN( NOTE 912828014 -195=0.000 194.756.25000 02/24/05 DUE 12/31/2008 3.000 3.000 DUE 12/31106 RTM F0530664 A2 TERM RESALE AGREEMENT r 02/24/05 RECENED uNnto STATES TREASURY NOTE DUE 12/31/2006 3.000 9128280.14 200.000.000 200.000.000.00 3.000 DUE 12/21/06 FRIA 1055C66 Al RESALE AGREEMENT MEREST UNITED STATES TREASURY NOTE 9128260E4 23.370.75 022406 DUE 12/3112006 3.000 nna 10530664 A2 ZLZISE00-019-ANGS RESALE INTEREST ••••• 02/25/05 KORNAI FECCRN. NADY411 iiTG ASSN 313471138C9 -3.929.997 SERIES 346 MASS 1 DUE 11101/33 FIAT 10563273 Al REPO AGREEMENT 027 ofnuekteee col Wag EFTA01260577 CLEAR= 1, 1,0U0/1 r1 wsetay OWNED SLIMiCtAnv OFFICE SERVICING YOUR ACCOUNT BEAR Bear. Steams IS Co. Inc. 3B3 Madsen AVeI)Le C* Bair Sten SearThn Ca, vent° Cow Wan Ibutert. Nat Volt 1120I.Ian Nen 'Nek New Ye* ' C)1 79 STEARNS FINANCIAL TRUST CO INC 35 STA111,22.7 PER,C0 Februlfy 1. 2005 YkROUON Fdrum 28.2005 Transaction Detail (continued) ACCOUPIT NASA TA201AYPA swam On En REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (WMIIINV0 use summe Jamey 37. 2005 BAIL SMilutra TRADE OM TRMS/CIIM DISCRIPMR SmINACAP WIMP Gall NOM CAMP, MOM/ 02/25/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3138FCBC9 UM'S 348 CUSS 1 1.000.000.00 DUE 11/01133 FM F0583270 Al REPO AGREEMENT 0 02/25/06 JOURNAL FEDERAL NAIONAL MTG ASSN SERIES 348 CLASS 1 DUE 11/01/33 3134FC8C9 5.31%807 3363.000.00 FE AT F0453360 A2 m 02/25,05 INTEREST 1ERM REPO AGREEMENT FEDERAL NATIONAL WIG ASSN SERIES 348 CLASS 1 3138FCBC9 3.378.48 CUE 11/01/2033 0.000 ci FRIA F0453360 A2 REPO INTEREST m 02/28/05 JOURNAL FEDERAL RADOM( MFG ASSN 3136fCBC9 3.92%997 DUE 11/01/33 RDA F0563273 A2 MEM REPO AGREEMENT 0228/05 JOURNAL FEDERAL NATIONAL MEG ASSN 3136FC8C9 -3.239.592 SERIES 346 CLASS 1 DUE 11/01/33 EOM F0593290 Al r 0228/05 JOURNAL REPO AGREEMENT FEDERAL NAT/0401 in ASSN 3136FCBC9 490,404 SERIES 348 CLASS 1 500.000.03 DUE 11/01/33 FR EOM 3279 Al 4N1 0228/05 JOURNAL FEDERAL AARON% MTG ASSN 3136FM4E6 -13.375.837 SERIES 329 CLASS PO 9.695.000.00 ELZTS£00- 019- ANGS Dmp sUE01/131/33 HIM F0593200 Al REPO AGREEMENT N? 03101.0110:0 001 Yen tn I8 IJ IJ •13 EFTA01260578 po;sal ThROIJOH rTS ymeur DAD SLOSOARY OFFICE SERVICING YOUR ACCC•INT W. Suns Sauna Cap. Beat. Steams 8 Co. Inc. Oxman:Leo Cava Ham BEAR 383 Madison Menu° Now York. New Yeek 10179 Omar We Tort 112014,59 STEARNS FINANCIAL MUST CO INC 36 el M S-ATTAIENT Faruary 1.2005 Trmc0GH Febtary 28.X105 Transaction Detail (continued) ACCOtArr NMER TAx•Am!" MMER On The REPURCHASEAND REVERSE REPURCHASETRANSACT1ONS (continued) LAST STATEUPrr Mnair 31. 200S SnlirMENT MACE MIMI AmCciNT can an TRAMS&CDON 00001MON STMIPMUS• CALUMPI OM /MM 02/28/05 JOURNAL FEDERAL RATON& MEG ASSN 3136fAWE6 11375.837 10.014.000.00 SERIES 329 CUSS PO C) DUE 01/01/33 STRIP 0 0218805 INTEREST MCA F0283165 AZ TERM RUC AGREEMENT FEDERAL NATIONAL MTG ASSN 3136FAWE6 24.058.841 SIRES 329 CUSS PO -n STRP DUE 01/01/2033 FITM F0283153 REPO INTEREST 0.000 Al 5.1,178.161243.46 11.126.69&746.12 C TOTAL in MISCELLANEOUS an OEN AMOUNT IdOrOW TRINSACTOI DESCRIPTCN 08W MOM 02.09/05 JOURNAL 04TREASURY REBATE Arm 30.973.04 02/09/05 JOURNAL FNIMe3OTR(FMA)G1D 76.953.13 r SETT.02/175 5.500 DUE 02/01/35 1.48S NET 02/09/05 031005 JOUR1M nam.30YR(041400610 5078.12 SkTf.02/05 5.000 DUE 02/01134 MSS NET 02/10106 02/10/05 JOURNAL EMU WNW GT13 35.937.50 SW. 02/05 VLZISE00- 019- ANGS 6.000 CUE 02/01/35 MEG NET 02F10105 02114/05 JOURNAL JAN OS SPEC CLEARING FEES 2.30000 027 0101106:1101 001 V472 rn 8 b.) IJ .43 EFTA01260579 MIMEO Tremor. n1) wi.O.At Mon SuBSTINAM OFFICE SERYICA0 YOUR ACCOUNT Bear. Steams & Co. Inc. RN. Sten Staines Ca" BEAR 383 Mattison Avenue Plow York. New Vat 10179 One Itefetedi Crier WM OnolOp. New 'fort 113/1.3559 STERNS FINANCIAL TRUST CO INC 37 • pp STATIvfNT PtROD FOilfWty 1. 2005 THROUGH Fetnery 28.2005 Transaction Detail (continued) ACCOUNT NASTIER TAxPArro MISCELLANEOUS (continued) LAST STATIIJENT JAMS) 31. 2005 OAlt TAUNT nunsAcilON OCSOOPTION DUO WONT COMM MOUNT 02/15.06 MORTAL on.0.15YR(FNMA-15)0TD 14.609.37 SE11.02,05 0 5.500 DUE0201RO MRS NET 0.2115/05 0 TOTAL 1.714253.13 SIMMIXO m Trades Executed Pending Settlement C in SITTIOATIT7 OAIT TMIX OAT! TIMMACTIN MSCRATTON SMOBOUCLISP CAAWMY MCI Of la MOUNT OICDIT &MOW 03/01435 02/28005 SOLO WIRED STATES TREASURY BONDS 9128100/8 -3,030.003.00 109.7226 3.297.915.88 DUE 02/15/2031 05.375% FA 15 0988015192099 yew 4.721 %T0 MATUTtflY OVER REF • 60591007 Al OM 405 02/0905 BOUGHT ROM 30YR. GTO 5A79357 20.000.000.00 101.8242 20.384843.75 r SETT. 03/05 DUE 0301/2035 05.500% 0987280211332 REF • 2005020957310000 BS 03/14/05 02/1745 BOUGHT DMA 30YR. MD 5A79357 15.030.003.00 101.5585 15,233,789.06 SETS. 03/05 DUE 0301/2035 05.500% 0987293211332 REF * 2005021757380000 8.5 SLZISE00-019-ANGS 03/14105 02/03/05 SOLD FMAI. 30YR MD 5A79357 -10.000000.00 101.5156 10.151.562.50 SETT. 03.05 CUE 03012035 05.500% 0987135514332 REF • 2005020357710000 85 (130WOLnifflo OM TAM rn 8 b.) b.2 EFTA01260580 CLEARED THDDC13.4 M1 wriCELY ORRED SLISSiCaLRY ONCE SERVICING YOUR ACCOUNT Be..SNann SeaSa Cep Bees. Steams & Co. Inc. o. goOttocti Cs*, Nat% BEAR 383 Madison Avenue NOM York. Now York 10179 frookEn. low DA 112014169 STEARNS FINANCIAL TRUST CO INC STL141.0EhT PERM° FORME 1.2005 RACOON rebury 28.2006 Artn,rt LLROER it= Trades Executed Pending Settlement (continued) TARRAYER NANO LAST SWORN! 1SRUify 31.2035 121111W111 SRAIK/U0SP CAROM Neu ale MOW OMR 061C01(1 OM DATE DATE 10114.CMIl OESCESMOR 03/1405 02/10/05 SOW ENIM 30YR. GTD 5.079357 -10.000.000.00 101.6718 10.187.187 .50 SETT. 03105 DUE 03/01/2035 05.500% 0987203211332 0 03/14/05 02403/05 BOUGHT REF 0 2005021057610000 8S MLIA-301110141ANGTO SET(.03/05 5.081973 10.000.000.00 99.4375 9.943.750.00 DOE 03101/2035 05.000% -n 0987135514332 REF * 2006020357750000 BS 99.5429 9.954.296.88 03114475 02/17/08 BOUGHT Nom-1078(7111.14)GTD SA81973 10.000.000.00 C SETT.03.05 DUE 03/0112035 05.000% in SOW 0987016110332 REF 0 2005021757300000 85 F18.41.30YR(FmANGTO 9.131973 .10000000.00 99.7382 9.973.828.13 01/14/06 0110475 SETT.03/05 OUE 03/01/2035 05.000% 0987135514332 REF • 2005021057670000 BS 03/14/05 02103/08 BOUGHT DAD WIRONMA) GED 6.082010 20.000.000.00 1030158 20.503.125.00 SETT. 03/05 r DUE 03.101/2035 06.000% 0987280211332 REF • 2005020357730000 BS 03/1005 02.09.05 $01.0 NAN 30YR(F1A1N GTO 5/682010 40.030.000.03 103.1875 20.837.500.00 SETT. 03)05 DUE 03/0112035 08000% 0987280211332 REF • 2005020957340000 BS $16.090,104.1.1 9X227.49401 9LZISE00- 019- ANGS TOTAL The no." roles ..5a ref ar:pur Ce, 027 03199:1109 ow 8 b.) IJ 00 00 EFTA01260581 CLEARED 1140X04 RS OFFICE SERVICING YOUR ACCOUNT '•NJµY OwILED SAMSDAirn BEAR Bear. Storms & Co. Inc. 383 Madison Ammo km SI** Scam* COM One Horrxecn Can* se &ow" VC Vat 112O11/1E9 STEARNS New York. Hen York 10179 FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE GAM GOVT BONO STATERAFAT REPODO January I. 2005 VISIT OUR WEBSITE www.bearszeams.ccat Twoce.44 January 31.2005 What's In This Statement I seecuta 41.JUR TAXPAYER RIMER On Elba Financial Summary 3 LAST never OecernEw 31. 2004 FINANCIAL TRUST CO INC Your Patrol* Holdings 4 WO JEFFREY EPSTEIN Transaction Detail 7 6100 RED HOOK QUARTER Trades Not Yet Settled 26 STE B3 ST THOMAS Y1 00802 0 m Your Portfolio at a Glance Market Value of Your Portfolio m TOTAL VALUE OF SECURMES THIS PERIM 10,656.868 Cash 6 Fearsioy 5978.344 5732.181 LONG ACCRUE() MEREST 107.032 rued $10.655.868 Ina me - 1 NET CRECC BALANCE 976.344 $t1$:1.21O.594 Current market value MIT Earl THIS PERIOD $11.740,244 IN last statements market vat* r NET EQUITY LAST STATEMENT 12.063.068 CHANGE SINCE LAST STATEMENT -322.824 There are no 'Stop Loss" orders or other pending buy or sell open ceders on Ale for your account. LLZTS£00 LAID ANUS gm TNt stateroom WIWY is ft, apnea" nem * Is ensta donenta atom t4 fecalned b yea Met. Sea raver Igo r ,y/Wt isrcettatun 027 02/01105:0143 col IWO 696aZOO-V1.43 EFTA01260582 2 c' 0 z m STATEMENT BACKER IS PRINTED ON THIS PAGE ci m z H r 8LZISE00 V\19 ANDS 027 0270105:07 Si Oil V110 OL6EZZOO- V1.43 EFTA01260583 CLPJACO 714.01.10M ITS WICAV DATED SuaDoire OFFCE SCRVICreG YOuR ACCOUNT Bear. Stearns S. Co. Inc. Bs. awns SeNIIIIS Cap. BEAR 353 Madsen Avenue Oro WIMP, Caw NEM N. No 11201.3104 STMRNS New Tore New York 10179 FINANCIAL TRUST CO INC San STAMAINT PEP= Jana) 1. 2035 TdWueM .taruary 31. 2005 Cash Flow Analysis Income Summary ACCCOWT PCJIA001 TADAYER Nuallflt Me. .ceo PC %ROO KM TOPA% LAST STAMEN' beCiallbet 11. 2004 OpeningBalance 5732.186.31 U.S. Govt. Bond Int. 285.117.47 285.117.41 Goa. Agency Mt. 655.330.03 655.330.03 Securities Sold 1,327,851,391.84 Corp. Bond Int. 130.177.44 130.177.44 DIvIdendsAntereSt 1,070,624.86 0 Miscellaneous 4.687.50 Reverse Repurchase Int. 235.427.49 235.427.49 0 Amount Credited 51.328,926,704.22 Total Bond Purchase Inc S1 306.052.37 -589.389.51 31,306,052.37 .589.389.51 Seances Bought -1.327,991.635.74 Repurchase Ira. Exp. -116.021.37 -118.021.37 m Funds Withdrawn -72.724.00 Dividends/Interest Charged -589.389.51 C Miscellaneous -28.796.68 Portfolio Composition in Amount Debited 3-1.328.682.546.13 Cash/Cash Equivalent 976.344 Fixed Income 10.656.868 Net Cash Activity 244.158.09 Your Portfolio Total $11,633,212 Allocation ClosincEtalonce 5976,344.40 r Cah a Eanamh 9% Cash Balance Summary 000-4 Margin 732,166.31 976.344.40 6LZISEOCIA19- ANCIS Net Cash Balance 5732,186.31 5976.344.40 L Foal booms 92% U•4•03•4 "Ansa antis orb, taasa we Oat 'rata Y,n TN Aar., pocatar amp, ,rta, boaka matt van a ?sr talrefe 022 02/070307$5 0), WOO rn 8 IJ o1/ --J EFTA01260584 CLEARED n4ROUGH its swan' Owe) SUMMARY OFFICE SERVICES. YOUR ACCOUNT Mr Menu Manx* Co',. Beer. Steams & Co. Inc_ OPe NnePle4n C— BEAR 383 MaIMOD Avenue Now Yak. New York 10179 Pan Irat 11201a% STEARNS FINANCIAL TRUST CO INC 4 ar STATErenT Pt MOO JACUWJ 1.2005 isROLKui Roury 31.2005 Your Portfolio Holdings ACCOviuT mat); TARRAurn Nam On Fit CASH & CASH EQUIVALENTS ;AST STATEAr.ic December 31.2OO4 MARKET ESEWATED CURRIDA DESCREDOW SneCctL6O. OUARTITY WOW WOVE VELDCIO CASH BALANCE 976.344 TOTAL CASH & CASH EQUIVALENTS 1976.344 0 -n FIXED INCOME Government & Agency Obligations ACC! ACCRUED IMAM° CURRENT C a:4.40re ROE/ IMAM VkUE MEREST AMU& P440.4 TILDE% rn DESOORDON TrionDuCuSP TYPE FEDERAL HOME TONI AVG CORY 31393FAF3 MRGN 15.029.420 9.5203 1.430.842 32,862 739.447 51,6792 SERIES 2530 CLASS SE DAZED DATE 10111972 BOOK ENTRY ONLY COE 02F15/2032 4.920% FACTOR .25049034 FEDERAL HOME LOAN MIS [COP 31393K435 MRGN 6.446913 8.6637 558.539 12.961 291.400 52.1718 SERIES 2526 CUSS SI DATED DATE 1001102 r BOOK ENTRY DAY CUE 02/15/2032 4.520% FACTOR . .25049033 FEDERAL NATIONAL MTG ASSN 3136FAL01 MACH 3.672.130 84.8828 3.117007 3 97 0.0012 SIPS ERIFS 322 CL PO DATED DATE03401102 WOK ENTRY ONLY DUE 03/0102032 .001% FACTOR . 1.00000000 OSZTS£00- 019- ANGS FEDERAL HOME LOAN ALTS CORP 3139216(2 MRGN 12.935.618 8.2178 1.063.020 25.987 584.690 55.0027 SERIES 24133 CI. St DATED DATE 07102)02 BOOK ENTRY ONLY DUE 031154012 4.520% FACTOR - .224244306 027 CCW01.05;07:15 001 NN rn I Sb.) IJ —J 1.0 EFTA01260585 CLEARED THROuCsi ITS °MCC SERVICING YOUR ACCOUNT OWNED Vacua( Bear. Steams & Co. Inc. BURR 383 Madison Avenue bar. Smarms StOron Con. One Mennen, Conn katli Omer. He- Yot 11201.3159 STEcRNS New York. New York 10179 FINANCIAL TRUST CO INC STATOENT PERIOD January 1. 20CS nsio038 January 11. 2005 Your Portfolio Holdings (continued) ACCOUNT HLARIVI TAXPAYER NLIMERI I IM Government & Agency Obligations (coritmued) LAST IITATENENT Noe/at 31.2004 Sal 045CRI7031. 3774604.0.2SIP TOE ACCRUED ESTIVATE° CL LW OuNnrn KC( IMAXL1 Yk.UI MITOEST 4140AL INCOME ranD OD FEDERAL NATIONAL NIG ASSN 31393C2C6 IARGN 11791.178 8.1254 1.120483 10.274 SERIES 2003.49 CLASS SW 618.468 55.0130 DATED DATE 0413003 800K WIRY ONLY 0 DUE01/25/2033 4.470% FACTOR .68738039 Total Government& AgenCy Obligations 57.219,901 592 077 02232.040 m Corporate Bonds ci m Oat tecerrew sTINIOUCeS0 MF 4=41007 MILANO 0-WiENI /Pt( VAQA11 VAat ISTERMI 01$0.1.114011% 11EIJ) FANNIE WM CMO/SERIES 2033-13 313921082 MRGN S RCR-L0 FUR 12.3003 3.365.877 24.955 1.497.252 44.4704 DATED DATE 02/25/03 BOOK ENTRY ONLY DUE 03/2502033 5.470% H FACTOR - 44744510 Total CorporateBonds 03 344477 024,165 S1NS3.262 TOTAL F1XEDINCOME r 513 144.441, 3'07.032 41.729.302 YOUR PORTEOJOHOLOINGSACCRUED INTEREST 5107.032 YOUR PORTFOLIO HOLDINGSEST IIAATED ANN JAL INCOME 53.729.302 YOUR PRICEDPORTFOLIONOLDINGS 511.633.212 TINTSEOCINDANGS 02> 01}0105 07 SS sot EFTA01260586 CLEARED THIOAR n wi4OLLy VANED SLOSOLARy MICE SERVICING YOUR ACCOUNT Mw. Sawn Season Cs. Bear. Stearns & Co. Inc. Or Ainnann C— BEAR 383 Machson Avenue NOW Yen. New York 10179 Orooktr. Nen York .1201.3159 STEARNS FINANCIAL TRUST CO INC 6 an STATORKT PERrco Arum T. 2005 niROLK04 wow/ 31 2005 ACCOUNT Runlet Repurchase and Reverse Repurchase Transactions TAmyEA MAW On Fie with Bear,Steams& Co. Inc. outstanding as of date of statement LAST 'TAW Omens 31. 2004 FTSCANSU MOCHAS( PRONG PUROOSE MEV ACCRUED REPO DOWDY SUM DATE DUE MN MORAL WIMP Pa MONO CUSP DESCRIPTION YOU SOLD GOVERMVENT NATIONAL NM ASSOC (REPO) 01/13/05 0441/05 2.860 -2.601.000 -3.928 -22.100.000 38374ft:47 SERIES 2004.5 CUSS P 4.450002/2003 0 YOU SOLD (REPO) 0143105 04/11105 2.860 -11.902,000 47.965 40.000.000 3136MWE6 FANNIE/ME STRW SERIES 329 CUSS PO 1201132 YOU SOLO FANNE MAE STRP -n (REPO) YOU SOLD 01/13/05 044105 2.860 4.40&000 -9.669 -30.000.000 1136/0106 SIRES 353 CLASS IO 5.0000 07/01/34 F N I. M C • STRIP PROCIPAL way C (REPO) 014906 024605 2.700 -7.800.000 -7.410 .43.190.000 3128CVUG7 rn YOU SOLD -10.014.000 -3.104 -25.000400 3136FAWE6 FANNIEMAE STRIP SUM 329 CUSS PO 12/01/32 z (REPO) 01/28.05 0248/05 2.790 YOU sow FANME WE STRP (REPO) 01/28/05 04/11/06 2.880 4.351,000 -2.335 45400.000 3136F0506 SERIES 353 CLASS 10 5.0300 07/01/34 YOU SOLD ENING- STRP PRINCPAL PAY (REPO) 01/2805 02/29005 2.790 4,199.000 471 4.810.003 31284VUG7 r YOU SOLD (REPO) 01/28495 0248/05 2.790 -500.000 .165 4.300.000 38370087 GOVERNMENT NATIONAL MTG ASSOC SUM 20044 CLASS P 4.4500 02/20133 YOU PROvIOND GOVERNMENT NATIONAL MTG ASSOC OMRGIN) 01/28/06 OPEN 0.000 .17.60).000 38374F067 SERIES 2004-5 CUSS P 4.450002/20193 yOU SOLD FEDERAL NOME LOAN LOG CORP _ (REPO) 0112846 02/28/05 2.790 449.030 -263 40.003.003 313921132 SERIES 2488 CLASS SO 5.520003/15/32 YOU SOLO USTR 3.625001/15/10 (REPO) 01/31/05 OPEN 2.420 49.925.030 -1.339 40.000.CCO 912828062 ZSZISECIO IN9 ANGS 027 02010507'55 COI V0/0 tL6IZZOO-V.L.43 EFTA01260587 CLEARED THRORC0 rs \WOW OVeiE0 Suansure OFFICE SERVICING YOUR ACCCVNT Bear. Stearns & Co. Inc. BAH Reim SeolOSS COO. BEAR 383 14848331 Ann* One AttrocePh E.R. RAND SOOtbn. 01 VOlt is201.38>9 STEARNS 10179 FINANCIAL TRUST CO INC 7 or)? SUMTER- POT/00 Tanury 1.2035 miaow. January 31.2005 Repurchase and Reverse Repurchase Transactions (continued) ACCOUNT N.*MU TMPAYER HAW On FIT with Bear,Stearns& Co.Inc. outstanding as of date of statement (continued) LAST STATENOTT 044.101b' 31.2004 PUINHASU REPUICHASA MAC PURCHASE PRIM ACCRIJED ROO DUMMY START DATE DATA Mn MOM ORDESP RACE Nail CUSP IXSCRIPTEN YOU SOLO USTR 4,280011115/14 (WV) 01131.05 OPEN 2.170 .31,465.000 .1.898 -31.030.000 912828001 YOU SOLD 0 MEPO) YOU SOUGHT 01131/05 0211005 2.760 4,409,000 .644 -20.959.779 31364AVO FANMDAAE STRIP SUMS 229 PASS P0 12.01132 USTR 3.0080 12/31/05 -n (REVERSE) 01/31/05 OPEN TOTAL REVERSE REPURCHASE TRANSACTIONS TOTAL REPURCHASE TRANSACTIONS 1.930 176.220000 sosamom 9.447 Seal 176.000.000 912628044 2-10022I.000 149.077 C "As 01 flS.wt one in z Transaction Detail INVESTMENT ACTIVITY r SETTIOAD0 DATE race DATt NUNSAC110II DESCRIPTION SHRIDIACUSP Warr PHU CANT MOUNT Otter AMOUR 01007/06 01/06105 BOUGHT UNTTEO STATES TREASURY NOTE 912828001 10.000.000 99.86719 9986.718.75 DUE 11/15/2014 04.250% MN 15 0988260293099 62.223.78 MEW 4.266 % TO steuRrre GVER REF *60051C06 Al ESZTS£00- 019- ANGS 01/0145 01/08/05 WEIGHT UNTIED STATES TREASURY NOTE 912$280C1 10.000.000 99.87109 9.987.109 .38 DUE 11/15/2014 04.250% IN 15 0989327496099 ACCR. INT. 82.223.75 NEW 4.286 %TO MATURITY OVER REF 140071000 Al AS OF 01/06.435 027 0201IDA0715 COI V47.3 EFTA01260588 CLEARED TniqUOM HIS Wien? WOAD) SuBSTOARY OFTCE SERVICSAG YOUR ACCOUNT On nen Scan On Bear. Stearns 6 Co. he. BEAR 383 Madden Avenue New Yak New York 10179 (re women C- Ptak WOOIr. Nip in 11201459 STEARNS FINANCAAL TRUST CO INC 842' RATEuea Kato Army 1.2005 THROJOH ArLilly 31.2005 Transaction Detail (continued) COWRY eTuTAPER TAXPAYER Mann On Elk INVESTMENT ACTIVITY (03/0/10(K0 LAST STATEWEAT December 31.2004 SET DARR 1100E DATE DATE TRATISACTIOK ot5tereoe syratnuone OURORT WE OESI AmOuR1 COM MICAN1 01/07/05 0106/05 SOLD UNITED STATES 1REASURY NOTE 9128280F4 40.000000 99.69531 39278.12SX CUE 12/31/2006 03.000%61 30 AMR. M. 23.204.42 0988016192049 YEW 3.160 % TO MATURITY 0 0107/05 PRINGFAL GVER REF # 00061007 Al FEDERAL NATCWL MATO ASSN STRIP SERIES 322 CL PO 3136EALCI1 -114.994 0.001 DUE 0101/32 ii PRIKPAL REDULTH 014546 01/11/06 01/1006 SOLD UNITED STATES TREASURY NOTE 9128280F4 45.000.000 99.58964 14,933..476.56 DUE 12/31/2006 03.000% JO 30 AMR. M. 13.674.04 0988027496099 C 11ELD 3,216% TO MATURITY GVER REF # 60101017 Al in 01/13/06 01/0105 BOUGHT FEDERAL NATIONAL MTG ASSN SERIES 329 CLASS PO IP 3136FAWE6 16.314.621 8034375 13.107.778.31 DUE 01/01/2033 0987410510312 REF * 2035010757450000 BS 0111105 01/07/05 BOUGHT FEDERAL NATIONAL LITG ASSN 3135ECLD6 28.945.632 25.12500 7.272.590.12 SERIES 353 CLASS 2 ACCR. MT. 48.242.72 OLE 07/0112034 05.000% 0987000510332 r REF 0 2005010757440060 BS ACCRUES ON 1ST. PAYS ON 25114 01/13/05 01/12/05 BOUGHT LOATE0 STATES TREASURY NOTE 912828001 10.000400 100.12109 10.012.109.36 DUE 11/15/2014 04.250% MN 15 ACCR. MT. 89.26745 0958027496099 YIELD 4.234 %TOMATUREY GVER REF *G0121006 Al 01/13/05 01/12/05 SOLD UNITED STATES TREASURY NOTE 9128280/4 -30.600.003 99.60939 19.882412 .50 PSZTS£00-019-ANGS DUE 12/31/24143 03.000% JD 30 AtCR NT. 32420.44 SPEON. MSTRUCTONS YIELD 3.206%70 MATURITY GAR REF • 60125166 A3 WNW 927 02/0v0407:SS 081 veTO 8 D.) La h.) --J $') EFTA01260589 0..CARCD THROJGH ITS vna 00.140 SUSSISIARY OFFICE SERVIC1VG YOUR ACCOUNT Bear. Sterns & Co. Inc. Set. Steam SCeu10et Cap. BEAR 383 Vtartion Avenue CM Menu:a Cease Nati &Wen Nee vet 11201.3839 STEARNS zyi 'In.. Vast 10179 FINANCIAL TRUST CO INC 9 or 2? STATEMENT PROMO January 1.2005 7144000/1 January 31. 2005 Transaction Detail (continued) ACCOUNT Wet TAXPAYER SUMER INVESTMENT ACTIVITY (eOntintax0 LAST STATEREW Dmerrter 31.2004 SETA} TNT MCC DLJE OAR MAP4ACtICII DESCRIMION SYMMILCUSP ciummrt mtt Mai MOW MEW AVOW 01/18/05 01/14/06 SOW WILD STATES TREASURY NOTE 912828DC1 100.20313 9.018281.25 0 WE 11/15/2014 01.230% MN 15 0988280293099 YEN 4424 % TO MATURITY 87.524.31 0 01/18/05 01/14/06 SOU) GVER REF • G0141001 Al UNITED STATES TREASURY NOTE CUE 12131/2006 03.000% 10 30 912828044 .15.000.000 99.57031 14,935,546.88 0988280293099 NXLINT. 22.375,69 YIELD 3.229% TO LAWMEN m 0%18/05 01714/05 SOUGHT GVER REF • 60141002 Al UNITED STATES TREASURY NOTE 912828002 20000400 99.61719 19,923,437.50 DUE 01/15/201003.625% I/ 15 C 0988280293099 YIELD 3.710% TO IMMO), ACCR. INT. 6.008.29 in 0108105 PRINCIPAL GM REF 0 GO141003 Al FEDI NOME LOAN MI6 COPP41502584 SUMS 218 Cl. PO 31280447 381,961.00 DUE 020102 PRIN RO 12.04 P0O1-15-05 REPO P &I 0.0000 01/18/05 P901CIML TEDERAL HOME LOAM MI6 CORP 313921662 470484 Saks 2483 CI SI 4 520 DUE 03/15/32 r 01/18/05 PRINCIPAL PitoicvAL WM00101.15.05 MOM KM LOAN LAG CORP SERIES 2530 CLASS 5E 31393FAF3 .498.652 4420 OLIE 02/15/12 PRICIPAL REOUCTNO1-15-05 01/1805 PRINCIPAL TYMPAL WM( LOAN MTG CORP 313934395 .213,898 SERIES 2526 CLASS SI 4.520 DUE 02/15/32 PRINCIPAL REDUCTN 01-1545 SSZTS£00- 019- ANGS 010905 01/18/05 SOLD UNITED STATES TREASURY NOTE 912828001 4.000.000 10042500 9.011.250.00 DUE 11/15/2014 04.250% MN 15 0988280293099 ACCR. M. 03480.94 YIELD 4,234 %TO MATURITY GVER REI • 60181001 Al 027 02.01.05.07.15 I8 IJ IJ --3 EFTA01260590 CLEARED THROUGH as ARICur OARED SUOSODAY OFFICE SERVICING YOUR ACCOUNT BOX. SWIM SKR'S% Cap. Boar. Steams & Co. Inc. BEAR 383 Marisa, Avenue N Y Y 10179 Cat MettlIAX Cane Moth lincARR Net YT 11201.3059 STEARNS FINANCIAL TRUST CO INC 10 te te STATDAINT ARMCO Friary 1.2405 niotorr. Tanury 31.2005 Transaction Detail (continued) ACCOUNT TAXPAYER maw On Fie INVESTMENT ACTIVITY (ctednued) LAST STATEIRINT 0001efte 31.2004 SETREMENe IRAK DATE DATE TRANSACTED DESCRPROM SOR3OLICUSP Conan IDLE DORI *next CREW AMOUR, 01/19105 01/1805 SOLD LIIIITED STATES TREASURY NOTE 91282864 .16.000.000 9452344 15.923.750.00 DUE 12/3102006 03.000% JO 30 ACCR. M. 25.193.37 0988280293099 YIELD 3.254 %TO MATURITY 0 01/1906 0111906 BOUGHT GVER R6 • G01111005 Al UNITED STATES TREASURY NOR DUE 01/1512010 03.625% .0 15 912828062 24000.000 ACCR. NT. 99.48828 19.897.656.25 401106 0988280293099 -n YIELD 3.738 % TO MATURITY GAR REF • 00181009 Al 01/20136 12.13704 CANCEL SW. Gram.30YRIGNIANG7D 5081673 7.000.880 101.96876 7,137,812.50 SETT.01435 C DUE 01/15/2035 05.500% 0987021317312 in REF • 2004120757310000 B5 AS OF 1210704 TO Ca PREVIOUS MIL 010005 12/15/04 BOUGHT GleM•301RIGNIANGTD 5911673 7.004020 102.35156 7.164.609.38 SETT.01/05 DX 01/15/2036 06.500% 0987797115332 REF it 2004121557020001 BS 01/20/05 120704 9:40 GNIAA-30YR(GNP/0611) 5081673 -7.00D.000 101.96875 7.137.812.50 r SE17.0105 DUE 01/15/2035 06.500% 0987031317332 REF 4, 200412075731CM EIS 01/2005 1211504 CANCEL BUY GNMA-30YRICAMWD 5081673 -7.000.CCO 102.15156 7.164.609.38 SEIT.01/05 DUE 01/15(2035 05.500% 0987797115332 REF 12004121557020000 BS AS OF 12/15(04 _ TO CO PREVIOUS BUY 01/2005 1207,04 BOUGHT CH144-30YRIGNMASTO 5091743 10.020003 103.64688 10.364.6157.50 SETTS/U/05 CUE 01115/2035 06.000% 0987031317332 REF IP 2034120757780020 BS 98ZISECIO IND ANGS 021 ozoicao795 col 4410 8L6IZZOO- Vida EFTA01260591 0.1.01C0 114.042021 ITS wscur 0a' 31.18800am OFFICE SERVICING YOUR ACCOUNT Bear. Stearns A Co. Inc. Sew. Seem Seamen are BEAR 383 Madison Avenue DN Mreacen Grey Math So Ws Yet 112014859 STEARNS AS York. New York 10179 FINANCIAL TRUST CO INC 11 a 27 STATEMENT Kibbe January 1. 2005 meitCocm Unary 31. 2005 Transaction Detail (continued) ACCO4,242 TAXPA2FJ1 NuueOR INVESTMENT ACTNITT (continued) IAS2 STATteierr December 31.2004 SETIMADIT TRIM DATE DATE 112vdSACTKON DESOMON 511•3011CUSIP @WM P t Olen NAOMI One MOM 01/2006 12/1501 CANCEL SELL GNIAA-30TRIGNAINTD 5/181746 10.000.000 103.59375 10.359.375.00 0 SETt.01905 DUE 01/15/2035 06.000% 0987797115332 0 REF /A 200412155703GO:0 RS AS CE 12/1504 TOCO. PREVIOUS SELL 01/20106 12/07/04 CANCEL WY GRAM.30YRICANKIGTD 5/181746 .10.C(4000 103.54680 10,354.687 .50 SE17.010D5 WE 01/15/2035 06000% m 0987031317332 REF • 2004120757780000 OS AS OF 12/07/04 TO CAL PREVIOUS BUY C in 01/20105 12/15/04 SOW GAM-30YRIGNIATOGTD 5E11.01//06 CUE 01/15/2035 06.000% 0987797115332 SA81743 -10.000.000 103.59375 10.359.375 ,00 REF • 2004121557030000 BS 01/21/05 JOURNAL EWA NOME LOAN MTG CCRPIS02684 3128C•UG7 .1 SERIES 216 CL PO DUE 0241/32 ADJUST POSITION 01125.05 PRINCPAL FEDERAL NATIONAL MTG ASSN r STRIP MTG SEWS 322 CI. PO 0.001 DUE 03401/32 PRINCIPAL PAYMENT 01.25.05 3136FM01 114.994.05 01/2543 PRINCIPAL FANNIE JAM CIAOSERJES 2003.13 3139240112 .610.357 S RCIL.PO FLTR 5.582 DUE 03/25/33 PRINCIPAL REDUCTN 01.25-05 01/25/05 PRINCIPAL FEDERAL NATIONAL MID ASSN 31393C203 -307.621 LSZTS£00-019-ANGS SERFS 2003-49 CLASS SW 4.582 DUE 01/2543 PRINCIPAL REDUCTN 01-25-05 D27 0241/01:0744 Col IT1 8 b.) IJ ‘C. —J EFTA01260592 CLURED 19000011 n emet 01410, StASADIARY OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. Sea,. Son Sgarnes Co BEAR 383 Madison Avenue N 10179 Coe liettnech NRN Nem Yen 112014359 STEARNS FINANCIAL TRUST CO INC 12 Of 27 STATElen PEF900 MIAMI 1. 2005 11010439 Arutry 31. 2005 Transaction Detail (continued) AOZOINT S%MAER TAXeennt MAW/ On The INVESTMENT ACTIVITY (continued) UST PAYMENT December 31.2004 SAMILUNia Mutt OAR OAR TIVMSACTON CESCRIll* SYMBOLCV9P Owen, MK( DM NA3uNI DREW ANCuNE 01128/05 01126/05 8OUGITT FEDERAL NATIONAL MG ASSN 3136FAV26 13.595.517 82.03125 11,152,572.95 SERIES 329 CUSS PO STRIP DUE 0101/2033 0 0987031317099 REF a 2005012658050000 OS 0128/05 01/2605 BOUGHT FEDERAL NATIONAL MTG ASSN 3136FCL06 33.769.904 24.21875 8178.648.71 SERIES 353 CLASS 2 ACM M. DUE 07/01/2014 05.000% 126.637.14 -n 0987000510332 REF • 2005012658060000 BS ACCRUES ON 1ST. PAYS ON 251)1 C 012805 0127/05 BOUGHT UNRED STATES 1RFASURY NOTE DUE 11115/2014 04.250% All 15 91282=1 10.000,000 A . NT. 100.20313 10.020.312.50 rn SPECIAL INSTRUCTIONS 86.878.45 11ELD 4.224 % TO MATURITY GVER REF a 60272927 A3 VACS 0113105 0127/05 SOUGHT FEDERAL NATIONAL MG ASSN 3136FAWEIS 11.396,361 81.95875 9.343.094.60 SERIES 329 CLASS PO STRIP DUE 01/01/2033 0987016110332 REF • 2005012751200000 BS 01131.05 01/2605 SOLD GOVERNMENT RATON% MTG ASSN 38374FCM4 49.801.752 9.00000 3,582,157.76 r SERIES 2004-2 CLASS SB DUE mums 0987022118332 04.720% ACCR. NT, 28.276.79 REF a 2005012857450030 BS 0121105 01/28/05 BOUGHT UNTIED STATES TREASURY NOTE 912828001 8.000.000 100.90234 9.061.210.94 DUE 11/15/2014 04.250% MN 15 ACCR. M. 0988280293099 81,360.49 YIELD 4.136 % TO IMTURITY GVER REF a 60281002 Al 88ZISE00-019-ANGS 01/31/05 01/28/05 BOUGHT Learns STATES IREASURY NOTE 91282EIDF4 15.1)00.000 99.58594 14,937,890.63 DUE 12/31/2006 03.000%A 30 ACCR. INT. 0988280293099 38.535.91 YIELD 3,224 % TO MATURITY GVER REF a 00281000 Al W7 060L65.O7 SS 001 1110 En I8 IJ IJ 00 00 O EFTA01260593 O.4.PC0 ncia.r.o. moat, OWNED /14.10410L4Rv OFFICE SERVICING YOUR ACCOUNT Per San Swats Cap. Bear. Steams & Co. Inc. BEAR 383 Madison Avenue New York. NOW Y0<. 10179 De *Patch ClaCI Path lleeoir. Wm Yon 11701-3069 STEARNS FINANCIAL TRUST CO INC 13 ear STATImeur POPP° "arum 1.2005 Thiltouati Newry 31.7005 Transaction Detail (continued) APPC‘N1 Wt./.18ER 7AxPAYER ..LAMER On rile INVESTMENT ACTIVITY (amtIalmo LAST STAituEsT DKenster 31.2004 SEMIE1030 MOE DAN OAR OLSCIISYMOW SYPOCOPuSS, otoonvry MCI CAW AJAPuit7 CATINT A.VOJYT 01/31/05 0129/06 SOW WIRD STATES TREASuRy NON 912528062 -20.000.000 99.75563 19.953.125 .00 DUE 01n5/2010 03.525%11 1' 0988280293099 ACCR. M. 32.044.20 YEW 3.677 1410 PAATURITY 0 TOTAL GYER REF6w Go281 W1 Al S.168.307.003.91 5193.000.368.50 -n DEPOSITS AND WITHDRAWALS DATE lASSACTON DESCW1101/ rnrt hvourn C in 01405/05 END WMED MOM GY154679 ENDS N1RED TO FLEET NATIONAL BANK AC2387604020 NY*36491 '2.724.2,2 TOTAL r-72.724 TO INTEREST r all 01718/05 DISCRPTION FEDERAL HOME LOAN MG CORP SYMPOUCUSP 31192T8E2 amain itin ti9 4.5200 0011MCAT CUT AMOUNT 51.340.60 SERIES 2483 CL St DUE 01/15/2032 4.520 MEREST PAYIAENT 01.1545 01718/06 FEDERAL ROLE LOAN MTG CORP 313821132 5.5200 54.201.35 SERIES 2488 CUSS 90 DUE 03/15/2032 5.520 INT R/D 12-04 RID 0145-05 68TESE00- 019- ANGS REPO P & I 5.5975 01118106 FEDERAL HOME LOAN MTG CORP 31193FAF3 4.9200 84.667.95 SERIES 2530 CLASS SE DUE 02/15/2032 4.920 INTEREST PAYMENT 01-15-D5 OY? OP/01.0001:14 001 141110 cc 8 IJ 00 00 EFTA01260594 OEM= 190919C0.. rTS WHOLLY 01.1.99 SLILSCWIT OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. Bur San Soctsbn S.09. BEAR 383 Madison SIOTT1 One Nand, Crow tin • 11101.3359 STEARNS FINANCIAL TRUST CO INC STA:MVOS 9.99,00 *vary 1.2005 THROUGH Ana, 31.2005 Transaction Detail (Continued) ACCY5LIVT %OMR FM T4195910/ mat° INTEREST (continued) LAST STATOJENT December 31. 2004 OATE C(30.91ICS StWOUCUSP pylnnY Rut ttra AVOU111 CR(W MOSS 01/1905 FEDERH. HOME WAN WG CORP 313931605 44200 25.51923 SERIES 2525 CLASS SI OUE02/152032 4.520 MEREST PAYNENT 01-1405 01/18.435 GOVERMLIEW ?MENSAL MTG ASSN 38374FCM4 4.7930 160.998.04 SERIES 2004-2 CLASS Se DUE 01/16/2034 4.793 NT RID 01-06 P/0014405 REPO P 6I 4.7931 -n 01(20.415 GOVERMAENT NATION. LOG ASSN SERIES 20044 CLASS PS DUE 02/20/2033 4.540 30374(057 4.5400 82.855.00 C NT PM 12-04 P001.2005 REPO P a I 4.5400 in 01/20/05 GOVERNMENT NATIONAL MI6 ASSN SERIES 2C04-5 CLASS PS DUE 02/20/2033 4.540 317374For 4.5400 83.611.67 INT R/D 12-04 P001-2005 REPO P 4I 4.5400 01/25/05 Waif WE CMONERIES 2003.13 31392/082 5.5820 130.177.44 RCR40 FLTR DUE INTERESTPAYMENT PAYMENT 0f 01-2546 r 01/25/05 FEDERAL NAGONAL WG ASSN SERIFS 2003.49 CLASS SW DUE 01/25/2033 4.582 31393C2C6 4.5020 53.839.40 INTEREST PAYMENT 01-25-05 TOTAL 4797.230.99 06ZISE00- O19- ANGS 027 02.01/06:07SS 001 V170 rn 8 IJ IJ 90 SO IJ EFTA01260595 CAVACO 11/10VON ITN NNOU.V OWNED SUOSOVAY OFF/CE SERVING YOUR ACCOUNT Bete. Stearns EL Co. Inc. Mar. Seen Seculle. BEAR 383 Ma6son Avenue Ore Ihnotece tens Ilcuon 115014.659 STEARNS Now York, New York 10179 FINANCIAL TRUST CO INC 15 an STereallOrT swop January 1,2005 TNRCUGH January 31. 2005 Transaction Detail (continued) ACCOUNT Wane TrzPAYER rifler On Cie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS LAP STATMENT patenter 31.2004 with Bear,Steams& Co.Inc. 511111/4M1 MIX art OAR FRACAKDON CescoPncti 511.11000.15, mum DEW MAXIM CREDO AVOLINT 01/07/06 JOURNAL wino STAPES TREASURY NOTE 91282800) -20.000.000 20.050.000.00 C) FMA F0370432 Al 4 250 DUE 11/15/14 etso AGRED4ENT 0 01/07/05 DELNERED UNTIED STATES TREASURY NOTE DUE 12031/2006 3.000 CUE 12/3101 3.000 912828M4 46.000.000 751300.000 00 FIDA F3560898 A2 TERM RESALE AGREEMENT 01/07/05 RECEIVED UNITED STATES TREASURY NOTE 9126280F4 115/200.000 115.000.000.00 DUE 1201/2008 3.000 3.000 DUE 12/31/06 FITIA F0070520 Al RESALE AGREEMENT in 01/07/06 MEREST UNITED STATES TREASURY NOTE CUE 12/3112006 3.000 9128280F4 20.418.87 FMA F3680808 A2 RESALE INTEREST 010005 JOURNAL FEDI. HOME LOAM WIG CORP•S02884 3129CVUG7 -11,512.346 8.1328.000.CO SERIES 218 CL PO CUE 02/01/32 MAI F0103216 Al REPO AGREEMENT r 01/1005 JOURNAL FEDL NOW LOIN MTG CORP'S/0284M SERIES 218 CL PO 3128CVUG7 11.512.346 9,478.000.0D DUE 02/01/32 Fnm F2863213 AZ TERM REPO AGREEMENT 01/10106 JOURNAL GOVERMADIT NATIONAL LOG ASSN 38374F067 21.900.000 SERIES 2004.5 CLASS P5 4.540 CUE 02/20/33 _ FMA F3573210 A2 TERM REPO AGREEMENT 0100'06 JOURNAL GOVERNMENT NATIONAL PAMASSN 38374F087 .21.900M 500.000.00 SERIES 2004.5 CLASS PS 4540 DUE 02/20/33 EMI F0103218 Al REPO AGREEMENT T6ZTS£00 IN9 ANGS 007 OttI/05:07.55 001 VPD £861ZZOO-V.L43 EFTA01260596 Oa, niROuGH ITS At•Ots OW& 84.4)SIOuRY OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 0W. Sion konte3 08p. BEAR 383 Madison Avenue M. Ihrrotecn Cote NOM r 11201.3839 STEARNS 16 on, New Ye* Men Y 10179 Is ST CO INC STATEmea n*C0 I 'my 1.2005 'MOM. January 31.2005 Transaction Detail (continued) ACCOuNt NameR ran. /mum CM Fle REPURCHASE AND REVERSE REPURCHASETRANSACT1ONS (0318)1109C0 LAST sTATeseNT Pante 31.2004 WIIIIDAIDIT 1118.01 DATE DATE naliSAC1138 DESCRIPTION S811•Ct/CUSP OWA1raa O00 MCJNT CREW 81.0.110 01/10/05 MEREST FEDI. HOME LOAN INTO CORP/S02664 3128CVUG7 5&550.70 SERIES 218 CL PO DUE 02/01 F2/2032 0.000 VIM 863213 A2 REPO INTEREST 0 01/11/05 RECEIVED METED STAVES TREASURY NOTE DUE 12/31/2006 3000 DUE 12/31/013 3.000 9128280/4 30.000.0:0 29.999.999.99 RIM F0110470 Alt -n 01111105 RECEIVED RESALE AGREEMENT WEED STATES TREASURY NDTE DUE 12/3112006 3.000 9128280/4 50,C00.)00 49.999.909.09 C 3.000 DUE 12131/03 FILM 10110470 AlA rn 01111105 RECEIVED RESALE AGREEMENT LeaTED STATES TREASURY NOTE DUE 12/31/2006 3.000 9128280/4 512000,000 49.999.999.99 3000 DUE 1201105 FILM F0110470 A1B RESALE AGREEMENT 01111105 OEINERED METED STATES TREASURY /AXE 012828DF4 -115.0)3.000 115.080.0[0.00 DUE 12/31/2006 3.000 3.003 DUE 12/31/08 FILM F0070520 A2 r 01/11/05 MEREST TERM RESALE AGREEMENT LISTED STATES TREASURY NOTE 9128213014 25.491.67 DUE 12/31/2006 3.000 RIM 10070520 A2 RESALE MEREST wises JOUM4AL FEDERAL NAT2t4M. INTO ASSN 3136FAVE6 .18.314.821 11,902,003.00 SERIES 329 CLASS P0 DUE 01/01/33 Z6ZISE00- 019- ANGS STRIP VIM 10133284 Al REPO AGREEMENT 017 02.18141397S5 COI V870 En I8 IJ V.2 ,C+ 00 EFTA01260597 CLE.W.0 Nibuen ITS 2.1.2.0.11 OrdwrJ) SueS02~ OFFICE SERVICING YOUR ACCOUNT raw 8...• So~ Co. Bear. Steams & Co. Inc. BEAR 383 Mad," Avenue Winreletfi Celt« Par. New Rh 11201.2252 STUkRNS New York. New Yak 10179 FINANCIAL TRUST CO INC 17 av STArturn7 Pe/020 1 urry 1.2005 ~Coen January 31.2035 Transaction Detail (continued) AccoTATT ra."0ER T AVER HJI.IBOI On Fie REPURCHASE AND REVERSE REPURCHASETRANSACTIONS (Ltninuce) LAST srArnaNT Nan» 31, 2004 SETFLDAINT PM OUT 61R TRMISMTION 0000.110. sTemCuSTP cower Dørt MIOUIll 012C4T.U.93010 0103/06 JOURNAL GOVERNMENT NATIONAL MYG ASSN 3837410M 40.307.282 CLASS SB 4Ø 01ØV16/34 FITIA F2813937 A2 TERM REPO AGREEMENT 01(1105 JOURNAL GOVERNMENT NATIONM. MIG ASSN 38374/C/A4 -40.307.282 2.830.400.00 SERIES 2004-2 CLASS 58 4 793 DUE 0111604 191.1 F0133287 Al REPO AGREEMENT 01113/05 JOURNAL GOVERNMENT NATIONAL WO ASSN 3837411187 22.100.000 2.600.000.00 SERIES 2004-5 CLASS PS 4.540 DUE 020003 m ET1/13/05 JOURNAL FEN F3573203 AZ TERM REPO AGREEMENT GOVERNMENT NOKNAR WO ASSN SERIES 20044 CLASS PS 38374"87 -22.100.003 2.601.000.00 4540 DUE 020003 FlnA F0133269 Al REPO AGREEMENT 01/1195 JOURNAL GOVERNMENT Tat« WO ASSN 383741087 22.100.000 2.601.000.00 SERIES 2C04-5 CLASS PS 4.540 DUE 02/20/33 r FM F0133269 A2 REPO AGREEMENT D1113/05 JOURNAL GOVERNMENT NATIONAL WIG ASSN 38374F087 -22.100.000 2.601.000.00 SERIES 2C04-5 CLASS PS 4_2_540 DUE 0920133 RIM F0133269 A3 REPO AGREEMENT 0111105 JOURNAL FEDE AL NATIONAL WC ASSN 3136ECUR3 -28,945,832 6.406.000.00 £6ZISE00- IN9- ANGS SERFS 353 CLASS 2 S. DUE 07/0104 FDM F0133284 61 REPO AGREEMENT on 02121/06,0755 .101 V.20 Tn 8 IJ IJ aD EFTA01260598 0.EAMED 114•00Gin fl worreSe Oedne, $408SCIARY MICE SERVICING YOUR ACCOUNT Flew. Steams & Co. Inc. ma Sean maven coM BEAR 383 Madsen Avenue Ole MMyttath CierW Focal" Noe York II20145SO STEARNS 10179 FINANCIAL TRUST CO INC 18 am STAnsakT econ00 IYva7 1. 2005 ThRIXIG.4 lartary 31.200$ Transaction Detail (continued) Arrnt.ne *Nen TAYSArtit 461.1)Ea 4 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAST raltuts7 014 ember 31.2004 sniussirt num DATE DATE Temelicia oesisanam 511.110/0156. (Munn OEM ANGRY CREW AM3UIO 01/1306 JOURNAL UNITED STATES TREASURY NOTE 9128213001 20.000.000 20,050,030.00 FITM F0070432 A2 4 250 DUE 11h Mu TERM REPO AGREDREin 0 01/1305 JOURNAL UNITED STATES TREASURY NOTE FITM F0130623 Al 4.250 CUE 11115/14 REPO AGREEMENT 912828001 40.000.000 30.150.000.00 -n 01/13/06 DEUVERED UNITED STATES TREASURY NOTE DUE 1241/2006 3.000 WE 12/3106 FITM T0110470 A2C 3.000 9128280f4 -30.000000 29.609.999.99 C TERM RESALE AGREEMENT in 01/1305 DEINERED UNTIED STATES TREASURY NOTE DUE 12/31/2006 3.000 DUE 12/31/06 FITM F0110470 A2A 3.000 9128280,4 -saccacco 49.999.999.99 TERM RESALE AGREDAINT 01/1305 COWERED UNITED STATES TREASURY NOTE 9128Z8DF4 40.030.000 49.999.999 .99 DUE 12/31/2006 3.000 3.000 CUE 12/3106 EOM T0110A70 A.28 TERM RESALE AGREEMENT r 01/13/05 RECENED UNITED STATES TREASURY NOTE DUE 12/31/2006 3.000 DUE 12/31/06 3.000 912828DF4 160.000.000 160.000800 .00 FITM F0130934 Al RESALE AGREEMENT 01/13/05 MEREST GOVERMENT NATIONAL MTG ASSN 383741097 3.987.50 SERIES 2004.5 CLASS PS DUE 02002033 4.540 BIM F3573206 AZ V6ZISE00- 019- ANGS REPO INTEREST 01/11105 MEREST UNTIED STATES TREASURY NOTE 912828DC1 5.719.82 DUE 11/15/2014 4.250 FITM F0070432 A2 REPO INTEREST 027 0301.36.07:55 CO1 MM I8 b.) IJ 00 00 EFTA01260599 CURED /14ROUCai frs W-Ott• ~ED ~CAM OFFICE SERVICING YOUR Very ejT km Men Scan Cap. Sew. Steams 5 Co. Inc. B&1(2 383 Madison Avenue New Yak, Ma VOtk 10179 0.< ~MN Env 7Met 11201-3050 STEARNS FINANCIAL TRUST CO INC 19 au STATBARYT PEA= beery 1.2005 TMOUCH Jareary 31. 2005 Transaction Detail (continued) AØ At/AMER TAXPAYER NJ11a91 On Fie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (commute) LAST StATM.if 0001105år 31.Ø miTumon TRADE DAIS OATT MANSACTON CfSCRPTIY1 SIIIDOLIGUIP OUNIRTY MIN AMOUla CREW ANOINT 01/13/05 INTEREST UNITED STATES TREASURY NOTE 9128280$4 3.183,33 WE 12/31/2006 3.000 FiTM F0111)470 ..20 RESALE INTEREST 0 01/13/05 INTEREST UNRED SIAlTS TREASURY NOTE Ø12p112008 RIM F0110470 A2A 3.000 9128280F4 5.356.53 RESALE INTEREST -n 01/13105 INTEREST UNITED STATES TREASURY NOTE CUE 12/31/2006 FITM F0110470 A28 3.000 9128280F4 5.305.55 RESALE INTEREST rn 01/16105 JOURNAL GOVERNMENT AMORAL MTG ASSN 38374~7 41.9:0.000 SEPJES 20044 CLASS PS 4.540 DUE 02/20/33 AMA F0183201 Al REPO AGREEMENT 01(18105 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FD87 21.900.000 500.000.00 SERIES 20044 CLASS PS 4,540 DUE 02/20/33 MIA F0103218 AZ TERM REPO AGREEMENT r 01(1805 JOLMMI. UNITED STATES TREASURY NOTE WM F0180665 Al 4.250 DUE 11/15/14 912828001 -21.1:03.003 21,157.600 .00 REPO AGREEMENT 01/18105 JOURNAL UNITED STATES TREASURY NOTE 912828001 30,000.000 30160400J» FORA F0130623 AZ 4.250 DUE 11/15/14 TERM REPO AGREEMENT 56ZISE00- lA19- ANGS 01/18135 DELMEREO UNITED STATES TREASURY NOTE 9128280F4 460.040.000 160.000.000.00 DUE 12/31/2006 3.000 3.000 DUE 12/31/06 FiT/A F0130934 AZ TERM RESALE AGREEMENT . ......................... 027 02/3110610736 COI EFTA01260600 Cles.RED nwaron r1-3 OAhtl) SuisiOay OFFICE SERVICING POIM ACCOUNT &et. Steams & Co. Inc. Oesi. Sten Searn». COp. BffiR 383 ModIsto kerta Cr* Meintech Carte Noin km Von 11201.3359 STDV(NS 10179 FINANCIAL TRUST CO INC 9742...V.^ 0101100 2anady 1.2%5 Titta.G. Mruwy 31.2005 Transaction Detail (continued) ACCONT NL4,82Ft ~I* Cn TIM REPURCHASEAND REVERSE REPURCHASE TRANSACTIONS (ccoUnued) V.ST trlATEbita Dcantar 31. 2CC4 St111.0.0.7 MAO( OATL OATt DIWICTON OISOIPTION SITIO2R~IP OJANTIrr DOW «OM CRLIXI MOPO 01016D5 Ketut° me» STATES TREASHRY NOTE 912828W4 175.000.000 175.020.00000 WE 12/31/2006 3.000 3 COO DUE 12/31/08 FillA F0180625 Al MAE( AGREELIENT 0 01/1805 JOURMAL UNITED STARS TREASIMY 14011 912828062 -20.000.000 19.875.800.00 z RTU F0180089 Al 3.825 DUE con 5t10 REPO AGREEMENT m oinEVO5 PrtEREST GOvERNMENT NATIONM. WG ASSI,: SERIES 2004-5 CLASS PS 38374FD87 293.33 o DUE 02/20/2033 4.540 F17/4 F0103218 A2 REPO PnREST m ointo>5 INTEREST UMTED STATES TREASURY NOTE WE 11115/2014 4.250 912828001 6.006.50 z 01,1505 INTEREST EM F0130623 42 REPO «MW UM» STARS TRFASURY NOR 9128281:W4 44.000.00 DUE 12/31/2008 3.000 F111A F0130934 A2 KELLE INTEREST 01719105 JOUR/EAL r FEW HOME LOAN MTG UW0502884 SERES 218 Cl. PO DUE 0201/32 rinA F01931193 Al 3128CHUG7 -1.567.981 REPO AGREEMENT 01/117005 JOURNAL FOX HOME LOAN LOG CORP4502584 3128CWG7 4.944.384 7.800.000.00 SERES 218 Cl. PO DUE 02/0142 FITM F0193183 Al REPO AGREEMENT _ _ 01(19(05 JOURNAL ROL HOME SAN inG CORP.PS02684 3128C%%7 11.512.348 8.828.000.00 SERES 218 Cl PO DUE 02/21/32 LIHA F0103216 A2 TE/04 REPO AGREEMEMT 96Z15£00 1ND ANGS 027 0.14».01.07:65 DM 5970 886EZZOOVia EFTA01260601 =APSE, no0u041 ITS %wart PINED SUOSOARy OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. Kw Swims Securbts atop. BEAR 383 MadiSco AYenue New York New York 10179 Coolkoatai Cat Non row • 20 MS9 STEARNS FINANCIAL TRUST CO INC STATEretr PELPICO Jemmy 1.2005 nacos.. /snowy 11. 2005 Transaction Detail (continued) TAXPAVE/t ACC°LNT REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (caminued) IAST STARNENT Decerrea 31.2004 SETILlaft PINK DAR OAR neva- nom DESOOPTO. Meet/CUSP ativany OUR MAYJS CMW MACON, 01/19/06 JOURTML UNITED STATES TREASURY NOTE 9128200C1 -12.000.0% 12.120.00O .00 FOILI F0190634 Al 4.250 ME11/15114 REPO AGREEMENT 0 01/19/05 JOURNAL UNITED STATES TREASURY NOTE FRIA 5018066S A2 8250 CUE 110 S/14 912828001 21.000.030 21.157.500.00 TERRA REPO AGREEMENT m 01/19/05 DEINERED UNITED STATES TREASURY NOTE DUE 12/3112006 3005 DUE 1201/06 3.000 912828DF4 ,175,000.020 175000.0W .00 RDA 50160625 /12 RPM RESALE AGREEMENT ci m 01119/05 INCENED UNTIED STATES TRFJSURY NOTE DUE 12/31/2506 3.000 DUE 12131/06 FRIA F0190357 Al 3000 912628054 191.000.000 191.003.00000 RESALE AGREEMENT H 01/19/05 JOURNAL LIMED STATES TREASURY NM TOM F0160689 A2 612828242 20.000.000 19,175,000.00 3.625 DUE 01/15/10 TERM REPO AGREEMENT r 01/19/05 IOURTML MATEO STATES TREASURY NOTE FTTM F0190624 Al 3.625 DUE01/15/10 912828002 -40.000.200 39.750.03000 REPO AGREEMENT 01/19/05 INTEREST Mt HOME LOAN urc CORPOS02684 31260/1167 5.604.48 SERIES 215 Cl. PO DUE 02/0112032 0.000 FITM F0103216 A2 REPO MEREST LUTS£00 IND ANDS 01/19/05 MEREST MATED STATES TREASURY MOTE 9126280C1 1.05706 DUE 11/15/2014 4.250 WM 50160665 A2 REPO INTEREST 022 02001.0SATSS COT 1670 686aZOO-Vin EFTA01260602 CornM*0 NINON ITS !NOW' OvestD SullSOMN ornct SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. MN. Deans No.riles 029 BEAR 383 MaOrson Avenue Y &. iteoretetn CNN Nem Doom" Wed Tat 11201.3239 STEARNS 10179 FINANOAL TRUST CO INC 22 .' STAID/ENT PISMO MiNfry 1.2005 THROWN knary 31.21305 Transaction Detail (continued) ASCOVR MAME To0MAYIDI NAAR! On File REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (centred) LAST !MARION? December 31.2004 SORCUDIT MN DAR OAR TRAITACIION 0001PION SOMOUCUS• Coma! Cart MOLTS mar MOOS 01/19105 INTEREST MATED STATES TREASURY NOTE 9128280F4 6.078.39 DUE 12/31/2006 3.000 MR F0180625 A2 RESALE INTEREST 0 01/1905 INTEREST RATED STATES TREASURT Non DUE 01/15/2010 3.625 Foll10689 A2 REPO INTEREST 912828002 955.10 m 01/21106 JOURNAL FM NOW LOAN MTG CCOP•502684 DUE 218 Q. PO SUES02/01/32 AMA F0193188 .42 3128CVUG7 1,567,961 TERM REPO AGREEMENT ci m 01/28406 JOURNAL not RCM LOAN LEG CCRP*502684 SERIES 218 CL PO CUE02/01/32 FRIA F0283229 Al 31280/LIGI .1.567,981 1,199,000.00 REPO AGREEMENT 01/28/06 JOUPAML FEDERAL HOME LOAN LOG CORP 31392T132 11.212,304 H SERIES 2488 CLASS SO 5.520 DUE 03/15/32 EOM F2593267 A2 TERM REPO AGREEMF/11 r 01/28/05 PAIRNAL FEDERAL HOW WM TRIG CORP SERIES 2488 CLASS SQ 5.5 CUE03/15/32 31392//32 11.212.304 849.000.00 ERR20 F0283231 Al RESALE AGREEMENT 01/28/05 JOURNAL FEDERAL NOME LOAN AM CORP 313927/32 -11,212.30E 849.000.00 SERFS 2488 CLASS SQ 5_ _520 DUE 0115/32 FILM F0283231 A2 I 86ZTS£00- IND- ANGS RESALE AGREEMENT JOURNAL FEDERAL Kat LOAN Mit LORD 313927/32 -11,212,30E 849.000,00 SIRES 2488 CLASS SQ 5.520 DUE 03115/32 MIA F0283232 Al REPO AGREEMENT 027 02O1/05/073S COI 1/100 tri 8 IJ IJ EFTA01260603 CLEARED INROUGH MEALY CAMEO SANMIRY OFFICE SERVICING TOM ACCOUNT lea. Sterns Swam Cap. Sew. Steams & Co. Inc. On Swam Omer Ranh BEAR 383 Madison AVER* • 10179 11201.3.59 STEARNS FINANCIAL TRUST CO INC 23 STATilaNT PrIOM Jartalcif 1 2005 TNROUG. 'awry 31.2005 Transaction Detail (continued) Atm, en valet TAAPAveffit NAM. dirt filo REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (CONMEMER EAST STANwErct De:enter 31.2004 NM/1MR mAtt RATE 64th NAMEPON DISOMION EIMOUCEN ORO OEN MOUNT CREW ANCOR 01/2895 JOURNAL FEDERAL NATONAL MEG ASSN 3136/AWDI -13.595.517 10.014.000.00 SERIES 329 CLASS PO WE 01/01)33 SEW O JOURNAL FIN F0283165 Al REPO AGREEMENT GOVERNMENT WORM. TATG ASSN 38374E087 21.900.000 01/2905 m SERIES 2004-5 CLASS PS 4.450 DUE 02220/33 FRTA F0183281 A2 TERM REPO AGREEMENT 01/28/05 JOURNAL GOVERMENT NATIONAL MTG ASSN 383747067 -17.600.000 ci SIRES 2004.5 CLASS PS m 4.450 DUE 02/2053 FTTM F0283237 Al REPO AGREEMENT 0128/05 KOJRNAI. GOVERMENT /atm. MEG ASSN 38374F087 -4.300.000 503.000.03 SERIES 20344 CUSS PS 4.450 DUE 02)2003 H WM F0283235 Al REPO AGREDAENT 01)28/06 JOURNAL FEDERAL NATIONAL ERG ASSN 3136/131D6 -13.769.904 7.351.000.00 SERIES 353 CLASS 2 r 5.000 DUE 07/01/34 MA F0283169 Al REPO AGREEMENT 01/28.05 JOURNAL UNTIED STATES TREASURY NOTE 912828001 12.000.000 12.120.000.00 ETTs4 F090634 A2 4.250 DUE 11/15114 TEN A REPO AGREEMENT 01/28/05 JOURNAL UNITED STATES TREASURY NOTE 912828001 42.000000 22.247.500.00 66ZTS£00- O19- ANGS FILM F0280728 Al 4.250 DUE 11)15/14 REPO AGREEMENT 01/28/05 MEREST Um= STATES TRFASuRY NOTE 91282800 5.679.57 DUE 11/15/2014 4.250 HIM P0190534 A2 REPO MEREST 021 02/01X6.074$ 901 870 EFTA01260604 CLEO= THROUOR ITS WHOLLY OWNS) SURSINARY OFFICE SERVICING YOUR ACCOUNT Beer. Steams & Co. Inc. Ow Roca Stogie/ Ceep. BD‘IR 383 Madson Avenue N Y Cry utuctech fencer Noll 14869 STMRNS wY 10179 UST CO WC 24 a 27 STATta nam January T. 2005 THROUGH Away 31.2005 Transaction Detail (continued) /OCCUR MAW TAXPANIA ILIA= On TRIT REPURCHASEAND REVERSE REPURCHASE TRANSACTIONS (conlnued) VAT STATEREVT DICemOOT 31,2004 SCOURER! !ROC DAZE DATE TRANSACTION DESORPTION St1.00LOSIP CUMIN OLE' ATOM CREW MOuul 01131/05 JOURNAL FEDERAL NATIONAL MTG ASSN 3138FAWE8 -11.398361 8.409.000.00 SERIES 329 CLASS PO DUE 01/01133 STRIP RIM F0313060 Al REPO AGREEMENT 014195 JOURNAL GOVERNMENT NATIONAL MFG AS94 38379044 39.801.752 243=0 .00 z SERIES 2004.2 CLASS SB 4.720 (VE01116/34 -n 01/3906 JOURNAL FITM F0133287 A2 TERM REPO AGREEMENT UNITED STATES TREASURY NOTE 912828001 22.0,1000 22247.90.00 FITM F0280128 A2 4.250 DUE 11/15/14 m 01/31/05 JOURtML TERM REPO AGREEMENT UNITED STATES TREASURY NOTE 91282991 -31.000.030 31.495.000.00 z FITM F0310808 AI 4,250 DUE 11415/14 REPO AC/UMW 01/31/05 RECEIVED UNTIED STATES TREASURY NOTE 912828074 170000,000 176220.000.00 DUE 12/31/2006 3.000 3.000 DUE 1241/06 FITM F0310890 Al r 01/31/06 OEUYERED RESALE AGREEMENT UNITED STATES TREASUltf NOTE DUE I 2919006 300 912828074 491.000000 191.000/000,00 3.000 DUE 12/3906 911.1 F0190357 A2 TERM RESALE AGREEMENT 01/3905 10UIeAL U/491) STATES TREASURY NOTE 912828062 -20.030.000 19.925.000.00 REM F0310758 Al 3.625 COE 010010 00ETS£00- 019- ANGS REPO AGREEMENT 0141/05 PDURMAL UNITED STATES TREASURY NOTE 912828062 40.000.000 39.750.003.00 MA F0190524 A2 3.625 DUE 01/15/10 TERM REPO AGREDAENI 027 G201/010716 COI EFTA01260605 =AKO Toex)vom 'eNDµv 0,044D SUBSOMY OFFICE SERVICING Y0 ACCOUNT Bear. Steams Ow. Sterns Seeriles Inc. BCflR 383 Wawa Avenue 'it,. York. New York 10179 Dne merove, Utter Won't 11201-3149 STE1RNS FINANCIAL TRUST CO INC 25 44 4, STArearr rm00 January 1, 7005 January 31. 2005 Transaction Detail (continued) ACCOVon Mute TAXPaYER ~ea Cr' its REPURCHASE AND REVERSE REPURCHASETRANSACTIONS (continued) LAST STAMEN? December 31.2004 StlItOADIT TPADIt DATE DAN Tits/GAMS" etsesenoi, SYFAEBOLOSP OLIMITIN OUR MORN Pace moon 01/31105 INTEREST GOVERNMENT NATIONAL. WO ASSN 38370'CM,, 4,044.90 SERFS 2004-2 CLASS SR OLIE 01/1812034 4.720 FITIA F0133287 A2 REPO INTEREST 01/31105 INTEREST UnITED STATES TREASURY NOTE 912828001 3.633.76 EVE 11/15/2014 4.250 FT/A F0280728 .42 RB10 INTEREST 1 1 01/31/05 INTEREST UNITED STATES TREASURY NOTE 912132IIC*4 120.649,33 DUE 12/31~6 3.000 FIlM F0190357 A2 RESALE MEREST rn 01/31105 INTEREST uNTIED STATES TREASURY NOTE DUE 01/1542010 [TM F0190524 A2 R.9,0 rry 'MT 3.625 9128.214:42 25.395.83 TOTAL 4-1.114.074.021.34 $1,136.214,42744 MISCELLANEOUS r DATE Ml AT 11~54113h Metre« DIM Akan OEM MOUNT 01/19/05 JOURNAL DEC 04 SPEC WARM FEES 2.000.00 01/19qá JOURNAL CAL4A-30YRICAIRATGTD 26.796.66 SETT.01/05 5.500 DUE 01415/35 MSS NET 01/19405 TOETSE00-019-ANGS 01/20405 JOURNAL GNMASOYINGAw4GID 4.687.50 SETT.01005 6.000 DUE 01/15/35 vas NET 01420135 TOTAL Sant.* MIMS 027 02101106:07:66 an Tn 8 IJ IJ EFTA01260606 =ARID THROUGH 'Ti VINCALY PAW SullealWee CAME SERVICING YOUR ACCOUNT Bete. Storm & Co. Inc. N EE Sam Swan c_ BEAR 383 Madan Avenue ▪ Pecrtatn Cap NEM 201-3869 STEARNS New Vat. New Vote 10179 FINANCIAL TRUST CO INC 26 all STATEMENT mace Amery 1.2005 THROUGH Aviary 31. 2005 =OAP NOW Trades Executed Pending Settlement tuCOMER WOW On Ile US? antettion Dicenter 31.2004 SE1TLELENT MADE PATE DATE TAYISALION OISCAPITEN swe/Oteve• 094661/ AKE CCM AMOUNT CREDIT WOW 0241106 01/31/05 SOW UNTIED STATES TREASURY NOTE 9128280/8 ..15.000.000.00 99.6875 14,954.419 .89 CUE 01/31/2007 03.125%11 31 0 0988027496099 NEW 3.248 %10 MATURITY GYER REF 0 00311009 Al 0 0211005 01/2005 BOUGHT FRI/A-30VROISAAIGTO 5477303 10000.030.00 101,7304 10,173,046.88 z SETT.024)6 041E 02/0112035 05.50)% 0967016110332 REF • 2005012057390000 BS m 02/1006 0101/05 SOLO FNuA.3011(11444)01) 5477303 .10030.003.00 101.2500 10.125490.00 SE-LT.0205 C CUE 02101/2035 05.500% in 02/1405 01/18/05 SOW 0987280211332 REF • 2005011157220000 BS FH144.30YRIFNIMIGTO 5477303 .10,000.000.00 101.5156 z SET1.02/05 DUE 02/01/2035 05.500% 0987280211332 10.151.562 .50 REF • 2005011857000000 85 02/1006 cnravos BOUGHT FNMA-3WRIFAIMIGTD 5478976 10.000.000 BO 99.6523 9455.234.38 SETT.02/05 r DUE 0201/2034 05.000% 0967260211332 REF a •Aret)12057C00000 BS AS OF 01/2005 02110106 01/20.05 BOUGHT F611.4307R(FMMIGTO 5478976 10,000,000.00 99.6523 9.966.2341.38 SET7.02)05 OUE 02/01/2034 05.000% 0987280211332 REF • 2005012057000000 BS ZOETS£00- 019- ANGS 02/1006 01/2005 CANCEL BUY FNMA.30141(17.11441GTD 6/378976 10.000=40 99.6523 9.985.234.38 SETT.024)5 DUE 02/01/2034 05.000% 0987280211332 REF • 2005012057C00000 BS AS OF 01/20105 027 0241/05/77,44 ten xI70 I8 IJ I •.) EFTA01260607 =Mt MtOWN in VMOISY OMER INAROner COME SERVICING YOUR ACCOUNT mat. Suss Sunlit COIL Bear. Steams & Co. Inc. BEAR 383 FAedson Avenue • One leneiice Cover *Rh INS Net Yet 113018559 STEARNS 0179 INC 27 of 77 STATFinhl Kei00 /artery 1.2005 THROUCn Artery 31.2005 ACCOLIC MAI= Trades Executed Pending Settlement (continued) moan* RUM UST STAY/RENT December 31.2004 44111003iT IRAK 011E COVE nansACTCN oaten,. rerpoinew OUNCRTY MOOS DEW AMOUR CREDO AMOUNT 02710035 12/16.04 BOUGHT WM 30YR 610 5A81912 10.000=0.00 103.0312 10.303.125.00 SETT. 02/05 DUE 024312035 06.000% 0987031317332 0 02/1005 oIrrucis BOUGHT REF # 2004121657320000 EIS Dom 300/ GTD SETT. 02/05 5481912 20=0.000.00 103,0312 20.608.250.03 DUE 02/01f2035 06.000% -n 0987280211332 REF # 2005011157210000 BS FNMA 30YR GTD 02/10105 12/10.04 SON SA81912 .10.03000D= 102,9843 10290.437 .50 C SETT. 02/06 DUE 020012035 06,000% rn 02/15/05 1213004 BOUGHT 0987280211332 RU #2004123057220300 65 FNMA-15111(FNIAA-15)GTD SA82209 11.060,000,60 102.9765 11,327,421.88 SE T.02/05 DUE 02.312020 05.500% 0987280211332 REF 0 2004123067230000 85 02./15105 12/1604 SOLD FNMA-15YROTIM-15)GITI 5182209 -11,000.000,00 103.1093 11,342,031.25 SETT.02/05 r DUE 02/01/202C n. , -cc 098703131733' REF / 2004' 2 TOTAL 972340,319E SIGA3141143.52 no sten nen to rot µ43U 0, - tea sato. nes summit EOETSEOCIN9- ANGS End of Statement C2.01/06/374.1 001 *70 EFTA01260608