EFTA01260609

EFTA01260609 Statements SDNYG,00351679 CONFIDENTIAL EFTA_ .4371 =ARID MROJGH ITS YI1CLY OV* SLIBROtARY OFFICE SERVICING YOUR ACODUNT Mom Sown sacs Cot Bear. Steams 6 Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 0wmeuctech teeter Qum eccethrt me. York 11201.3869 STEARNS (212) 272.2000 (2121 2721003 FINANCIAL TRUST COMPANY INC ACCOUNT EYE ill IC NARA STAlittaa PiAMO December 1. 2004 IILEPralvf DOIOUGH Deternber 31.2004 VISIT OUR 112 (Slit Avrw.bearsteartis.COM ACCOVNT RAMER What's In This Statement l III1 II Il II l l l l lllll l ll !III'S lSI TAXPAYER MAZER On Fl* LMT sinews." Itramber 30.2004 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C/0 AMERICAN YACHT HARBOR Transaction Detail 5 6100 RED HOOK SUTE 8-3 Fund Activity 10 QUAETERS 42 Trades Not Yet Settled ST THOMAS VI 00802.1348 O Your Messages 13 13 m 5 Your Portfolio at a Glance Market Value of Your Portfolio m TOTAL VALUE OF SECURITIES THIS PERIOD 53.738.664 Cash & Eturmlem 178.399.636 S65.990.490 Important Message If any information regarding 2004interest. dMdends. miscellaneous MONEY MARKET FUND BALANCE 65.990.490 Equets 553.738.664 Income. gross proceeds or 581.737.756 moral issue discount is NET EQUITY THIS PERIOD $119,729.154 required to be reported to Curren( MBREet wade the IRS for this account. a Last steramanrs menet value r NET EQUITY LAST STATEMENT 53.338.121 Consolda:ed Form 1099 in CI Men market value wl be mailed to you by CNANGE SPICE OAST STATEMENT 66.391.034 January 31.2005or a 10a2Stry Mardi 15.2005. There are no 'Stop Loss* aders or other pending buy or sell open orders on file for your account. 089TS£00- 019- ANGS Roam 't ool t. Manta at rcemmot t tate or Nods. RAMS as &Mew ea ma lo Mom Stoma it lWeYxi. or onla la Cowl Het. w oo Cora. Cem akteoloth Gann Ark baxiaNN N.Y. lir:14650 Rama Socialim Sr Tie entry4 iinsmnialaisunne for rano ye arias. Sn worn Ma to:email inth9 be ear Ode2 h Pd tonne as a Ma Corot. We far mWln. Wanxilta 027 ormi0s.co 1B 031 TBS7 rn IJ IJ 10 7.7 EFTA01260610 CLEARED MAGuan n %wear OANIK, Slainkirt la Sinn Smola Co. 14inerch C— lbw Oroolhn. Oan Yen 11201,459 12x1222.1000 PRONG& TRUST COMPANY INC (-) 0 z m STATEMENT BACKER IS PRINTED ON THIS PAGE ci m z H r T89TSEOCIND- ANGS 02? 0101/0500111 COI VIII rn 8 b.) IJ EFTA01260611 CLEARED SOS ITS VASLY ORS SUMS OFFICE SERYCINO YOUR ACCOUNT lot Seals Sccurlies Corp. BEAR Sear. Stearns 5 Co. Inc. Ono lAsealoch Caller MbrIn 383 Madison Arena ISS. Now Sr 112014160 STEARNS New To*. New York 10179 (212) 272.2000 (212) 272.1000 FINANOAL TRUST COMPANY INC 3 ri STATES-MT PIPS 00011Tibet RSV& Decreer 31.2034 Cash Flow Analysis Cash Balance Summary ACCES SUR TAXPAYER MAAS Collie NIS KWIC OPERDIC at al LAST STATEMENT Ikr4triber 30.2034 Opening Balance 5-28.399,635.50 Margin -28.399.635.50 0.00 Securities Sold 76.155.563.42 NetCash Balance 5-28,399.635.50 50.00 0 Money Fund Funds Depossed 305.229.36 28.974.025.30 0 DiedendsAntcrest MISCOISIlle0113 240,796.00 35.500.000.00 Income Summary This PER:00 sua u) Dart Amount Credited $141,175,614.08 240.796.00 1.373.296.60 Substitute Payment 0.00 85.222.00 C Securities Bought -46.416,875.96 trade Balance Im. 0.00 398.34 rn Money Fund -66,295.719.71 Funds WithcMaan Total 5240796.00 $1.458.916.94 -12.500.00 Erniderdsenterest Charged -50,882.91 Foreign Tax Waltzed 0.00 -2.033.91 Margin Mt. Paid -50.882.91 -549,945.53 Your Portfolio Amount Debited 5,112,775,978.58 Allocation Net Cash ActMty 28.399.635.50 r Closing Balance *y MS et ara bobs sunl Rpm anal Sad 50.00 Portfolio Composition RSA axe ision. lwl a dolt fro re alarrnsels BY RAS CasleCash Equealent 65.990.490 Ms n Tramsen Drug Equities 53.738.664 Equom Total $119,720,154 44% Z89TSEOCIA19- ANGS Cash& Eenal 56% Leafal :CrION SW* as Winn lalle• Ittol ., Alan TM 1/0.144, :ermine a ogres n. , Re atroS -Aria nom a wet %SR ot7 01/0165Xer111 001 EFTA01260612 CLEA.AED THOtartin na wnotre ante sisocony OFFICE SERVICING MR ACCOUNT taw Stern Sabo Om Bea, Steams & Co. Inc. BBNIZ 383 Manson Avenue New York, New Yak 10179 ilernoW. Com Dam Iroottr. We Mt 112014859 STURNS (212) 272-2000 CZ121 222.10:0 FINANCIAL TRUST COMPANY INC 4 a, '3 or/Maar rfooD Detente( 1.2004 n410u3ni Deanne 31.2004 it Goa 'max unman µnom On FM Womb:: 382034 Your Portfolio Holdings LMT neer CASH & CASH EQUIVALENTS matt ESTPAMED CURRENT IXSOOntel SIIIECOCUSP Ovum" ewcc OWE Sal& ACME VELD OD DREYFUS CASH MANAGEMENT-31A DK= 65.990.490.35 1.00® 65.990.490 1.121.838 1.7000 0 INSTITUTION& SHARES EST. 30 DAY AVG YIELD 2.0100% TOTAL CASH & CASH EQUIVALENTS 565.990.490 51.121.838 -n EQUITIES C Equities 8 Options in The research ratings for Bear Stearns (BSC) are shovm for certain securities covered by the Firm's Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform: P - Peer Perform: U - Underperforrn. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; 1AV - Market Weight: MU - Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available. The various providers have normalized their ratings systems as follows: B - Buy: H Hold: S = Sell. The ratings information contained herein is for ifformatkinal purposes only and is not intended to provide tax, legal or investment advice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent. third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. r Independent. third-party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at www.bearstearns.com or can call (800) 517-2327 to request that a copy of this research be sent to them. ACCT WNW [mourn CEMENT CtSCMTM SYMXIC1150 1µt 0MR,. PMCI YAW( AMML POE VELD 00 BEAR STEARNS COWPANIES INC BSC CASH 300,000 102.3100 30,693,000 300,0:0 0.9774 DEERFIELD TRIARC CAP CORP 244572202 CASH 1.000,CCO 15.0:00 15.000.000 ACCREDITED INVESTORS EHTSEOCIN9- ANGS WiLOST FIN ITAL) IFPSF CASH 100,000 4.5140 451.400 8,400 1.8609 Eµ1 NM a KERZNER INTERNATIONAL LTD 971 CASH 4,400 60.0500 264,220 COT 01101/0544/ 1,1 001 VIA EFTA01260613 =sumo 110000.4 ITS mare ovniED SORSORRY OFFICE SERVICING YOUR ACCOUNT Sew. Steams & Co. Inc. Dur. Surf Saute% ORD- BUR 383 Modiste Mtn* New York, New Yak 10179 Ont Veatch Cana MYR Iseethin It at 20 2159 STURNS (212) 272-2030 an) 272.1000 FINANCIAL TRUST COMPANY INC 5 y STATDRINT PIRKO DOCente 1.2004 MAOISM Matter 31.2034 Your Portfolio Holdings (continued) ACCOUNT %WIMP TAXPAYER KASEN On Toe Equities & Options (catnuet0 vir STATEvENT wnemetr 13. 2004 ACCT Vaal ESTMETED CURREN! DESCRIPTION SYIIOUCII9P TIC moony PROF VALUE 1.4144. IOU vIIID IT4 TOO INC TOO CASH 50.000 24.4600 1,223.000 0 BSC RATNG: STOCK NSECTOR SAY GARP RESEARCH MING: B 0 VECTOR GROUP LTD WYNN RESORTS LTD VGR CASH 326.990 16.6300 5.437.844 523.184 8.6212 YNNN CASH 10.000 66.9200 669,200 TOON Equities.% Options $53.738.664 54331,564 m TOTAL EQUITIES 553.738.664 5831,584 C in YOUR PORTFOLIONOLOINGSESHIAATE0 ANNUAL INCOME 51.953.422 YOUR PRICED PORTFOL IOHOLDINGS 5119.729.154 r Transaction Detail INVESTMENT ACTIVITY untie ROWE DAN DATE TRULIACTION DESCIIPTION SMADOUOUSIP OUNTICN PnYA OMR /MONT CREDIT PROW 12/01/01 JOURNAL WALT DISNEYCOMOWINGCO 015 -250.000 P89TSEOCIA/9- ANGS Mem FROM HIE 1 TO 2 12101/01 JOURNAL ELECTRONICS INTERNATIONAL FLE( -100,000 LTD 10uRtIAL FROM TIE 1 TO 2 027 01/01/0501:18 001 VMIT I8 IJ IJ IN -J EFTA01260614 CLEAREO TØ DS OMED 8;11380ay OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Irc. Bee. Nuns SKIM.» ECCP. BEAR 383 Madison Avenue New VEAL New York 10179 OR ~ROC, Crus iØ 8~ Nee W.% 11201.9859 1219222.1030 STBkRNS (212) 272.2000 FINANCIAL TRUST COMPANY INC bau STATEWNT PEA,D0 13«eniber 1.2004 11010/..Ex Docomter 3l.2Ø Transaction Detail (continued) ACCOUMT ~ER TAXPAYER POAIRR On Gle INVESTMENT ACTIVITY (contnued) raw crammer November 30.2034 57111D40(1 TRAM DATE DATE DESCIVION SM111)0UCUS8. OUVRITY PRICE DEW Aget.141 CRICC MONT 12101/04 JOURNAL WALT DISNEY CO HOLDING CO Ø 250.000 JOURNAL FROM PIPE 1 TO 2 12/01/04 JOURNAL FLEXIROMCS INTERNATIONAL FEB 100.000 LTD XuRNAL FROM TYPE I TO 2 12/03104 11/30104 BOUGHT BEAR STEARNS COMPAMES INC BSC 300.000 97.15000 29.163.005.00 uNSOuCITED -n 12/08/04 12/01/04 BOUGHT BERR. SlEARNS 6 CO. INC. IS A SUBSIDIARY OF THE 6SUEB BEAR STEARNS COMPAMES INC BSC 100 100.00000 10.08900 UNSOLICITED BEAR. STEARNS b CO. INC. 6 A in 12/09104 JOURNAL SUBSIDIARY OF THE ISSUER. BANK OF AMERICA CORP JOURNAL FROM TYPE 2 TO 1 RAC 100.000 12/09/04 JOURNAL VECTOR GROUP LTD VGR 6.300 JOURNAL FROM TYPE 2 TO 1 12/09/04 JOURNAL BANK OF AMERICA CORP BAC -100.000 Miami FROM TYPE 2 TO I r 12/09/04 12/10104 12/07/04 JOURNAL SOLD VECTOR GROUP LTD EuRNAL FROM 117E 2 TO BANK OF AMERICA CORP VGR BAC 4.300 -100.000 46.52070 4.845.958.14 UNSOUCITED 12/10/04 12/07704 SOLD WALT DISNEY CO HOLDING CO DIS .192.100 27.30910 5.234.424.35 WITH RIGHTS TO PURCHASE COmmON STK UNGERCUT/4N CIRCUMSTANCE UNSOLICITED 589T5£00- IA19- ANGS 12/10104 12/07/04 SOLD ROMA CORP KRB -322,800 28.23850 8.450.218.60 AVG PRICE SHOIWADETAILS ON RED ACTUAL CONFIRIA TO YOUR AGENT UNSOUCIT ED 027 01.01.01.00:111 001 VN7 In 8 IJ IJ EFTA01260615 CLEARED THPOur334 Os WKOwe okureo Su3StetAXY ()MICE SERVICING YOUR ACCOUNT Boar. Steams Ea Co. Inc. IleabScowns Scotian CO". BEAR 383 Madison Avenue Cne Memo:0 Cats New Breaept Pin bit 11301-3859 STEARNS New York. New York 10179 (212) 272-2000 012) 2721000 F1NANCUL TRUST COMPANY INC 7 cr /3 STATE30.1 PEAK* DeCtillber I. 2004 nnIOVON Genoa 31. 2004 Transaction Detail (continued) ACCOutif Warn. TAxibmit MAMA On Ele INVESTMENT ACTIVITY (continued) LAST STATClitxr No. mow 30. 2004 SETTLOMIT MCC OATE Mn IPARSALICOI DESOOPTOit $11.110UCUSP °LWOW MICE MO AMOUNT OtIOR AMOUR 12/10/04 1207/04 SOLD TYCO INTERNAD3NAL LTD lYC -100,000 34.16670 tR49XICITED 3.410.585.04 127100E 12/07,04 BOUGHT TOO INC 0 12/10/04 12/07/04 SOLD urcoucno VECTOR GROUP LID TOO VCR 50.000 -50.000 25.94890 16.10810 1.300.45000 802,381.15 U UCITED SEE NSO NOTE 'V ON BACK E I 12/13/04 12/08/04 SOLD BANK OF AMERICA CORP BAC -100.000 46.03870 4.594.757.33 AVG PRICE SNOVM-CETAILS ON REEI ACTUAL CONFIRM TO CUR AGENT UNSOUCiTED C in 12n3114 17/0EVO4 SOLD VECTOR GROUP LTD AVG PACE SHOWN-DETAILS ON REQ ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED VGR 4.300 16.14900 101,353.31 SEE NOTE *5' ON BACK 12/13/04 17/08/04 SEND MBNA CORP KRB -99.900 26.00240 AVG PRICE SNOYM-DETALS ON REO 2.591.579.97 ACTUAL CONFIRM TO TOUR AGENT UNSOLICITED r 12/14/04 12/09/04 SOW WALT DISNEY CO HOLDING CO WITH RIGHTS TO PURCHASE COMMON 51% WIDER CERTAIN CelCumSTANCE 015 457.900 27.29470 15.193.877.80 UNSOLICITED 12/14/04 12/09/04 SOW MBNA CORP KRB -527.300 26.07600 AVG PRICE STIOWN-DETARS ON RED 13,717,910.05 ACTUAL CONFIRM TO YOUR AGENT utisouctdo 12/15.04 989TS£00-019-ANGS TRANSFER BEAR STEARNS COMPANIES INC BSC -100 12116/04 JOURNAL BEAR STEARNS COMPANIES INC BSC 100 JOURNAL FROM TYPE 2 TO 1 12/16/04 JOURNAL BEAR STEARNS COMPANIES INC BSC 300.000 JOURNAL FROM TYPE 2 10 1 CO7 OVOIJOS:00:111 001 Ve67 rn I8 b.) b.) —a 'JO EFTA01260616 WARM 1101C,J01 RS w1404.1X OWNED &JIMMY OFFICE SERVICING YOUR ACCOUNT Bor. Sown Seci.ma Coo Bear. Steams & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 Cee Verotto Caen ram ennry.rw. cm( .20 3$9 12th 212.1000 STEARNS (212) 272-2000 FINANCIAL TRUST COMPANY INC I a STATEIIENT pt December 1.2004 rmitOuGn DOCW1100( 31.2004 Transaction Detail (continued) AMP"? %AMER TAX.1•1,1 µMIER On nle INVESTMENT ACTNITY (contiwed) VST STATZWENT Novembef 30. nos SIMDADII TM( OAR DAR MOSCOW DISCRPT011 SYNBOUCLISP DUMMY NEC( DENT WOuta MCC !WWII 12/16)04 JOURNAL TOO INC TOO 50.000 JOURNAL FROM TYPE 2 TO 1 12/16/04 JOURNAL VECTOR GROUP LTD VCR 376.080 0 12/16104 JOURNAL MANN. FROM TYPE 2 TO I BEAR STEARNS COMPANIES INC JOURNAL FROM TYPE 2 T01 BSC .100 -n 12/16/04 12/18/04 JOURNAL JOURNAL BEAR STEARNS COMPAMES INC JOURNAL FROM TYPE 2101 TOO INC BSC TOO 400400 -50.000 C JOURNAL FROM TYPE 2 TO 1 in 12(18104 JOURNAL VECTOR GROUP LTD JOURNAL FROM TOE 2 TO 1 VGR -376.990 z 12/20/04 12/15)04 SOLD WALT DISNEY CO HOLDING CO WITH RIGHTS TO PURCHASE COMMON SIX UNDER CERTAIN CIRCUMSTANCE AVG PRCE SHOwN-DETAILS ON REQ CIS -500.000 27.65060 13,794,971.46 ACTUAL 026/IRM TO YOUR AGENT 12/21/04 12/18/04 SOLD REKTROMCS INTERNATIONAL FIB -100.000 14.39250 1.439.211.32 LID r UNSOLICITED WE MARE A MKT IN THIS SECURITY AVG PRCE: DETAILS ON REQUEST UNIT PRICE 14.462500 DIFFERENCE 0.0600110 12/21/04 12/16/04 SOLD MINA CORP Kft8 -50.000 27.68800 1.381.382.60 AVG PRCE Sii0m4OETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED L89TSEOCIN9- ANGS 12/2301 12/17/04 8OuGHT DEERFIELD TRIARC CAP CORP 244572202 1.000.000 15.00000 15.000.000.00 ACCREDITED iNvEsmits PROSPECTUS uNDER SEPARATE WA Oh 01Xn0060.72 COT Yrne7 En 8 b.) b.) IN -J EFTA01260617 022100 0008011 ITS Wroav 0I4C 028283aRy OFFICE SERVICING YOUR ACCOUNT tam. Swann Seambet CA BEAR Bear. Steams 8 Co. Inc. Cno.4“70088 Cerny Rath 383 Madison Avenue /VS iias Tort 112014859 STEARNS New York. New York 10179 (212) 272-2000 alb 272-1000 FINANCIAL TRUST COMPANY INC 9 *I'3 STAIII/EXT PERIOD Cktarnt/0. I. 2004 048020.1 Occurs.- 31. 2004 Transaction Detail (continued) AOCCuPIT WIVNIER '0886v0it /ADAM On Fie INVESTMENT ACTIVITY (continued) UST 812728687 Wftembel 30.2004 StfRDIENT IRAN OAR OAT! IRANSCIION DESCRIVIION SHROUDS OM= 0280 noir MCC MIXT MOM! 12/31/04 12/28/04 BOUGHT KERZNER INTERNATIONAL LTD Ka. 4.400 80.83340 267.935.96 AVG PRICE SHONN-DETAILS ON RED ACVµ COMMA TO YOUR AGENT AS OF 12)28104 12/31/04 12/28/04 SOLD VECTOR GROUP LTD YGR -50.030 16.00000 796.978.28 UNSOLICITED SEE NOTE'S ON BACK -n 12/31)04 12/28/04 BOUGHT WYNN RESORTS LTD WE ARE ACTING AS PRINCPAL SARNEY MAKER: MSSION FEU) IS A COmMISSIONCOMEQUNALENT • WYNN 10,000 67.48000 875.405.00 DEMOS ON REQUEST C UNSOUGRED in TOTAL 5-46.416.875.96 578,155,563.42 DEPOSITS AND WITHDRAWALS OAR IANLLCiDM DESCRIPTION OEDB AISJI7 CREDIT masa 12/01/04 FUNDS REC ENDS WIRED TO CM8ANK FROM 1J:00.000.00 r PMCRWAI CHASE BANK CO043363593801 12/10/04 MHOS NEC ENDS WIRED TO CMEIANK FROM 10,021,975.30 NORTHERN CHGO F074345007.301 12/13/04 FUNDS REC ENDS WIRED TO CMBANK FROM 65.662.00 NORTHERN CHO) F0643480CCES01 889T SE00-019-ANGS 12/16/04 CHECK CK IPMC3492650N ACCT 12.500.00 GEORGE V. DELSON 12/23/04 FUNDS REC ENOSWIRED TO cinema FROM 2.888.388.00 GUARANTY MC IR F0543580038101 027 01/010.0218 COI V867 IT1 8 IJ V.2 -8- IN so O EFTA01260618 CLLONO 71•231X.N rts wycw Come SUS440.0ty (WM SERVCING YOUR ACCOMIT Soy Scorn Stones Cup. Sea/. Stearns 8 Co. Inc. BEAR 383 Maison Avenue Now York. New York 10179 he woman Cent Perth 0240r. Nee Ton 11201-38S9 DUI 272.1000 STERNS (212) 272-2000 FINANCIAL TRUST COMPANY INC 10 or .9 STAMARC Pire00 DeceTON 1.2004 na0UON Decenter 31. 2004 Transaction Detail (continued) ACCO.0.1 Pa.A004 TAnAyelt MAMA On rk DEPOSITS AND WITHDRAWALS 0202401UCCO LAST STATDANT NOverte 30.2034 OAR tRINSAttION OLSCRPTIOw cc- AmOait CROW AVOUPO 12/29/04 FUNDS REC Ft/DSC/MED TO CITIBANK FROM 15,000,000.00 01102242. NA NYBD DOD43642036301 0 TOTAL MONEY FUND ACTIVITY 5-12.500.00 528.974.025.30 -n an NOVO NONSACION CCSOUPTCH Sayan* COMM pea own Melee DIMIT MOM C 12/01/04 OPENINGBALANCE 0.00 in imont BOUGHT DREYFUS CASH MANAGEMENT-CL A Disnruncedm. SHARES DIC)0I 10,021,975.30 1.0000 10.021.975.30 12/13/04 BOUGHT OREYFUS CASH MANAGEMENT-CA A MCC 7,523,745.39 1.0000 7,523,745.39 INSTITUTIONAL SHARES 12/14/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A 0105( 28.911.787.85 1.0000 28.911.787.65 RtS111110:016. SHARES r 12116/04 SOLD OREYFUS CASH MANAGEMENT-CL A MSUIUTIONAL SHARES -18500 1.0003 12,500.00 12/21/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DOM 1,564,662.49 1.0000 1,564,662.49 I/STRUM/1AL SHARES 12123/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICEY 2.976.388 1.0000 2.976,386.00 ednnmORAL SHARES 12129/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICW 14.858635.32 1.0000 14,853,635.32 _ INSMUMNAL SHARES 12/29/04 SOLD DREYFUS CASH MANAGEMENT-CL A OIC1N -146.354.68 1.0000 146.364.68 INSTITUTIONAL SNARES 12/30/04 BOUGHT DREYFUS CASH MANAGEMENT-CA A CAW 443,525.36 1.0000 441525.36 INSMUD3NAL SHARES 689TS£00 INS ANGS 027 ounicisoim 001 I gEtZZOO- V.L.43 EFTA01260619 ca,ARO) 114b3U0H Ifs Mega OWNED SueSOVJP• OFFICE SERVICING YOUR ACCOUNT Beer. Steams & Co. Inc Int. SNOWS Soma Cam BEAR 383 Madman Avenue Now York, New Yoh 10179 Ore ereneech — Myth toecOr. Nov York 112014859 STEARNS (212) 272-2003 :2121272.1000 FINANCIAL MUST COMPANY INC 11 :? ' ! sTATIO41.7 PEW° December 1.2004 IIIROu0H December 31.2004 Transaction Detail (continued) ACCOair teen= TrO:PAreP NulaOt Om File MONEY FUND ACTIVITY NoreinueLl LAST STATeleDit November 30.2004 002 %O'DAY tRAMSAC110r4 OISCRPOON 0102Xte• Quurtav meet t r aqua ar m MOW 12/31/04 SOW DREYFUS CASH IAANAGEMEIN-Ct A DOI 146.364.68 1.0000 146.364.68 eaSTOUTIONAL SNARES 0 `34 CLOSINGBALANCE 65.990.490.35 5-66.295.719.71 5305.229.36 m DIVIDENDS art COCRIPTCNI 3114,14/01341 OLIMM13 PATE CO CHEW MOM ci OWN AMOteir m 12/22/04 12/30104 BANK OF AMERICA CORP RFC 12/03/04 PAY 12/2204 VECTOR GROUP LTD BAC V09 200.000 376,990 0.4500 0.4000 sici.000.op 150,796.00 REC 12/1704 PAY 12/30/04 TOTAL H 5240,796.00 INTEREST r 420E COCeenwi ?SAVVY PATE "..) 000 MOM MCC /443.r.' 12/21/04 NT D8038436056 50.882.91 11/1 • 12/20•02.75991% BAL 13794971.AVG22123684 TOTAL 5.50.882.91 069ISE00- IND- ANGS 010105:0918 W' 'heti I8 IJ INJ so se IJ EFTA01260620 CLEARED T143COON Ta MC.s DAME/ SMILSJOLASV OFFICE SUmCiNG YOUR ACCOM Sax Smam/. Staten Coy. Bear. Stearns 6 Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Oat Mama tern Seth &Gay,. Nes Yen 11201-38S2 STEARNS (212) 272.2000 42121272.10M FINANCIAL TRUST COMPANY INC 12 a •3 STATEMENT KIL500 Oecerar 1.2304 11460LKin Decarter 31.2004 Transaction Detail (continued) ACCCALL.3 MAW ?Amine. KAMER on Fae MISCELLANEOUS LAST sTATENINT Nara. 30,2004 art IMMO titMSACT1311 eaceinot DEW MOM CREW /MOUNT 12/02/04 JOURNAL JOURNAL FROM TYPE 1 TO 2 1,000,000.00 12)02/04 JOURNAL JOURNAL FROM TYPE 110 2 1.000.000.00 0 12108104 12108104 JOURNAL JOURNAL JOURNAL FROM TYPE 1 TO 2 FROM WO-940FM 35,500,000.00 35.500.000.00 z 12/08/04 JOURNAL JOURNAL FROM TYPE"' TO 2 35,500.000 00 -n 12/13/04 12/13/04 JOURNAL JOURNAL JOURNAL FROM TYPE 2 TO 1 JOURNAL FROM TYPE 210 1 2,781,972.75 2.761.972.75 C 12n 5/04 JOURNAL JOURNAL FROM TYPE 2 T01 28,911,787.85 in 12/15/14 JOURNAL JOURNAL FROM TYPE 2 TO 1 28.911.787.85 z 12121/04 12/21/04 JOURNAL JOURNAL JOURNAL FROM TYPE 110 2 JOURNAL FROM TYPE 210 1 50.882.91 16,615,545.40 12/21104 JOURNAL JOURNAL FROM TYPE 2TO 1 16.615.545.40 12/21/04 JOURNAL JOURNAL FROM TYPE 1 TO 2 50.882.91 JOURNAL FROM TYPE 2TO 1 r 12/22/04 12/22/04 JOURNAL JOURNAL JOURNAL FROM TYPE 2 TO 1 90000.00 90.000.00 TOTAL 5-84.930.188.91 5120,430,188.91 _ T69TSECIO IN9 ANGS 027 01/0341Call eel Vial SSEtZZOO-V.L.43 EFTA01260621 CLEARED &ROUE& in VMOµY DANED SuSSIDVXY omcc SENVICSC YOUR ACCOUNT &W. Seers Sari& Cap. BEAR Bear, Steams & Co. Inc. 363 Ma6son Avenue One Mercer Car &Rh &errs Maa at 20 3859 STEARNS Now York. New YOUR 10179 (212) 272-2000 1212)272.1000 FINANCIAL TRUST COMPANY INC 13 a SL STAMMERS PEROD DeDenber 1.2004 Espeolnes Decernme 31.2004 AOCOur sAPIRet Trades Executed Pending Settlement TAXPAYER Weer On Re LAST STAirrset November 30. 2004 simoion MCC OAIF OA& TRANSWOOM DESCRIPTICa SIMICUSIAP CIUMITRY MCI Cflr meow molt AVOW 01103/05 12/29/04 BOUGHT KERZNER INTERNATIONAL OD KZL 5.500.03 80.8252 339.842.12 AVG PACE SHOWNDETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED 0 01/03/05 12)29/04 SOLD VECTOR GROUP LTD UNSOLICITED VGR -50.000.00 152500 809.475.98 z TOTAL 50 NOTE'S' ON BACK $339.842.12 5809.475.98 m Tie ISM 0,0•• 0) Not spas A aw We era a In exert m Your messages z As part of the Nat10418 Association of Securities Dealers (NASD) Investor Education Progam, you may obtain information on the NASD's Public Disclosure Progam by contacting the NASD at telephone number (800) 289.9999 or via the Internet address which is vmw.nasOr.cern. In addition. a r brochure explaining the Public Disclosure Program is available from the NASD upon request. End of Statement Z69TS£00- 019- ANGS 02) 01.01,05015, 11/ 00) EFTA01260622 CLEARED 11.011C41 ITS VileOLLY OWNIDD SUISICCARY OFFICE SERVICING YOUR ACCOUNT Isar SWOTS SOOSSeS Co' Bete. Steams & Co. Inc. BEAR 383 MaJoon Avenue New York. New Yak 10179 One 1.10201Kh Cent Tor &04UJn. Nn van, 112014450 SIMMS (212) 272.2000 C2121 272.1000 FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTNE ZICHERIAANIRA VATISASN1 PE/b00 October 30. 2004 TELEPHONE 114.M.13M NCserrter 30.2004 VINT OUR wEaSill AWN Irearste.YnS.COrb ACC004/ Widertit What's In This Statement I TAXPANIR MAWR cn The LAST STATEmEnt October 29.2004 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 Cr0 AMERICAN YACHT HARBOR • Transaction Detail 6 6100 RED HOOK SUITE 8-3 Trades Not Yet Settled 6 QUARTERS #2 ST THOMAS VI 00802 0 -n C Your Portfolio at a Glance Market Value of Your Portfolio rn TOTAL VALUE Of SECUteMES THIS PERIOD 81.737.756 GN & Equiant 1 S-28.399.836 828.338.981 IC CCII BALANCE -28.399.636 Equates 381.737.756 377.4880133 NET EQUITY DOB PERIOD 553,338.121 Eli Current market vaNe NET EQUITY LAST STATEMENT 49.152.082 Last statemenrs market yak* r CHANGE SIVCE LAST STATEMENT 4,186,039 Stmo moths rake There are no 'Stop Loss ciders or other pending buy or sell open orders on file for your account. £69TSEOCIA19- ANGS St PI. bawl Orensles 4, 424-eiebt d YEA. 44 142444. baca421 as esiberse by TVs ta—rray Ibr HOlblrtbal SWPOSOS M/. els n:4 rifle() as s tax extreet b Clem S•04444 r 1:04414-14a 0. Jolts 1, Cord foni!aim feller Smarts Swabs. T•is ...met nada be rellieed ftry1141154erils S44 sem tee fee mutt co' . Cr* Wines Caber Mini Breadr. NY b2CI.SISS 077 1201 /04.1442 001 1126SA I8 IJ T.) 00 00 EFTA01260623 CLZARM 1700000 ITS IMC(SY ow0ED 9.10/100.4Y M✓.Siert( 0xurta 0010 0. WO.Itch Genie WT &odor. S. rcrk 112014869 (2121 272.1007 FINANCIAL TRUST COMPANY INC 0 z ii STATEMENT BACKER IS PRINTED ON THIS PAGE C in z -H r _ V69TS£00 IN9 ANGS 027 12221/04.14:42 WI SSA 9811,ZZOO- V.L.43 EFTA01260624 COMM %MOWN ITS MOLLY OMB) SUMPS OFFICE SERVICING YOUR ACCOUNT W. Wan Swat' Coo Sear. Steams & Co. Inc. BEAR 383 Madison Avenue Now York, New York 10179 One 517426507 Gray Now areihn. IMP YOM 11201400 212t 272-t020 STURNS (212) 272-2000 FINANCIAL. TRUST COMPANY INC 3 etc STATEMENT MECO October 30,2004 %moor NOMMEM 30.2004 ACCOUNT WARM Cash Flow Analysis Income Summary TAXPAYCR Nallat On Flit MO PERM ME TOSCO TEM IODATE LAST STAMPS? October 29.2004 OpeningBa lance 5-28.336.981.49 Dmderds 1.250.00 1.132.500.60 Sul:Stevie Payment 0.00 85.22200 Dividends/Interest 1.250.00 Credit Balance Lnt. 0.00 398.34 Amount Credited 51.250.00 Total 51.250.00 51.218.120.44 0 DhidendsAnterest Charged 41904.01 Foreign Tax Withheld Marge) Int. Pald 0.00 43104.01 .2.033.91 499,062.62 Amount Debited $41904.01 -n Net Cash Activity 42.654.01 Closin0Ela lance 5-28.399,635.50 Portfolio Composition C rn CatNCash Equivalent %CRT 28.399.636 LIMO Equtia 81.737.756 Cash Balance Summary Your Portfolio CPUOTE OXISM Total 521399136 581.737.756 Allocation MoViri -21336.981.49 -28.399.635.50 r Netcanseance 5.21336.981.49 5-28.399135.50 Snort Cash & Equintle 25% S69TS£00- 019- ANGS EN DO 75% DC, Ws 00.:41 au mien ro te InC*1 Maki' NILS The SACSM toCetlige a dIrelied nun V* ankle maga( nu el rui 027 7.7777.07,7 4 At 0DI vas,' IT] 8 b.) IJ so 00 --3 EFTA01260625 CLEWS 1144:uCei Ri vmaty 04440, sU1151014.” OMCE SERVICING YOUR ACCOUNT es. Sows Socinun Cap Bear. Stearns & Ca. Inc. BEAR 3B3 Mather, Avenue One Woe° Crow Math amen Illw Yin 11301.3434 STEARNS New Tack, New Yak 10179 (212) 272.2000 inn zreicce FINANCIAL TRUST COMPANY INC 4 et. simper' 440/40 October 30.2004 1341C430/1 ridarbor 30. 2004 Ai:Comer 01.104411 warmy4 144.ent On vie Your Portfolio Holdings usr voninser Oct0Oef 29.2004 CASH & CASH EQUIVALENTS Wet 1351111ARD CURREM martoN SO•01,01334 Pea WW1 Mv0JIL WM* ICA Oil CASH BALANCE -28,399.636 O TOTAL CASH & CASH EQUIVALENTS 5-28.399,636 EQUMES m Equities & Options C The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firm's Equity Research Department. The first rating represents the stocKs total return in relative to the other stocks covered by that Analyst. The key for the stock rating values is as folkres: 0 a Outperform: P — Peer Perform: U — Underpedomi. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO ti Market Overweight MW = Market Weight MU — Market Underweight. In cases where a BSC rating is present. the name of an independent, third-party research provider and their rating may also be displayed, where such research is evadable. The various providers have normalized their ratings systems as follows: B a Buy: H Hold; S - Sell. The ratings information contained herein is for Informational purposes only and is not intended to provide tax, legal or investment advice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent. third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent. third-party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost. Customers can access this research r at www.bearsteams.com or can Call (800) 517-2327 to request that a copy of this research be sent to them. 0330/1440N 3,0400L.15/ 4201 TM MEI VAR/11 VALLI (STIPM115) witt.L.41014 CUM!! YEW no BANK OF AMERICA CORP MRGN 200,000 NAMMY 46.2700 9.254000 360.000 3.8902 BSC RAMC.: STOCK 06EctoR ma N.A.B. RESEARCH. LL.C. RATING: B WALT DISNEY CO HOLDING CO DIS CASH 250.000 208800 52.500 0.7813 969TSEOCIA19- ANGS 6.720000 BSC RATING: STOCK P/SECTOR MO BOYARS ALTMAN& VIV/POOff RATING: B Or? 11101/M;14:42 COI WMA I S b.) IJ so OO OO EFTA01260626 MIMED THROUGH ITS VIVOLLV OWED) SEES CARP CfTICE SERY1CWG YOUR ACCOUNT est s— $00.44404 ORR Bow. Stearns & Co. Inc. BEAR 383 Matson Myrna New York. New Yolk 10179 Csee Human. Grew Nan test" raw Vat tI2014169 Mt) 272.1C00 STEARNS (21 2) 272-2000 FINANCIAL TRUST COMPANY INC 5ct STMELIDIT PR Oaober 30.2004 TEROutal NOreffIX14 30. 2004 Your Portfolio Holdings (continued) LECOVEV MEW UMW, MASER 01Ft LAST SLATIPACC DE10440 29.2004 Equities & Options (continued) sat wenn tsnmuto CURRENT OESCRP104 01/130ECUSEL IIIE LELVITEY rest mut maws. scout VELD (ID WALT DISNEY CO HOLDING CO aS MRGN 1,030000 26.8800 26.880.000 210.000 0.7813 BSC RATING: STOCK RSECTOR MO BOYARS ALTERNATIVE VIEWPOINT RAMC: B 0 FLOCTRONICS INTERNATIONAL LTD BSC RATING: SHOCK &SECTOR MN RE( CASH 100,000 14.3500 1.435.000 ATLUITTS RESEARCH RANG: H -n IFIL0ST FIN DAL) EUR1 INS CL FPSF CASH 100,000 3.8580 385.800 8,200 2.1255 C MBNA CORP KRB MRGN 1.000.000 26.5803 26.560.000 480.000 1.8072 in BSC RATIK: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VEYROPIT RADNG: 8 NCO INTERNATIONAL LTD TYC MRGN 1C00:0 33.9700 3.397.000 5.000 0.1472 VECTOR GROUP LTD VGR IARGN 433.290 16.4000 7.105.956 693.264 9.7561 Total Equities& Options 581.737.756 31.808.964 TOTAL EQUITIES 581,737.756 51.808.964 r YOUR PORTFOLIO HOLD I NGS E ST I MAT E D ANNUAL INCOME $1.808.964 YOUR PRICEDPORTFOLIOHOLDINGS 553.336.120 L69TS£00- 019- ANGS 027 120104.14 42 00' SSA rri 8 D.) IJ IN so EFTA01260627 CLE4.10 Deco.. no waraa.v Wimp ASSOoRt OffICE SERVICING nut: ACCOINT W Siam Snolles Boar. Steams 6 Co. Inc. BEAR 383 Madison Avenue New York New York 10179 Cee len.444I, Ceder 747, 2, bode" 744* /A 2014649 STEARNS (212) 272-2030 (2121272.1[00 FINANCIAL TRUST COMPANY INC 6 a STATELItra PO O0 0CWblf 30.2004 THROW.. 7.10.embee 30.2004 Transaction Detail ACCOUNT NOSIER woextiOt NuideliR On file DIVIDENDS LAST RATSISIT OCIOber 29. 2004 045E CfSCAM* rnapcucuSP 0414047171' RATE 01 CE WT PACUM OEM Avow 11/01/04 TYCO INTERNATIONAL LID TYC 100.000 0.0125 1,250.00 REC 10,01/04 PAY 11101434 TOTAL 51.250.00 0 INTEREST m WE 01301.110II SrueOuW5, WORRY MR MI KW MOAT caw 410.11/1 11/22/04 INT DB 038-66056 63.904.01 C 10/21 • 11120 002.6189614 SAL 28335731 AVG28336175 rn TOTAL 5-63,904.01 Trades Executed Pending Settlement r SE71184011 Mrt WOE art nalacnoe Duane, 97eIn3i.C..19P 07.4Parre PRICE OW MOAT CREDIT m.4174,47 12/03/04 11/30/04 BOUGHT BEAR STEARNS COMPANIES INC BSC 300.00000 97.1500 29.163.005.00 UNSOUCTIED BEAR. STEARNS &CO, SA SUBSIDIARY OF THE ISSUER TOTAL S29.163.005.00 50.00 869TS£00- 019- ANGS 11,4 sae lodes N r I Se we tee MICA was ii/ISMIL 027 'mu:4.14.42 ma 960410 EFTA01260628 CLEARED Own RS WICALY Offieb =MORAY OrrICE SERVICING YOUR ACCOUNT bur Sian $40771•1 Cap. Bow. Steams & Co. Inc. BEAR 183 Madison RYCR10* New Tor& New Yak 10179 O( Meer CRS North 6123,11 PRP Tog 11101.3369 STEARNS (212) 272-2000 WE) 2721030 FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE DCHERMANIRA swayer FTRICO OCCOERN 1.2001 TELEPHONE THROIX.31 wooer 29.2004 VISIT CUR wEBMIE wom.bearstearns own ACCOUNT WARM What's In This Statement TAXPAYER MAMA On Cie Lar sTAnsieHr Sectente 30. 2004 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 CM AMERICAN YACHT HARBOR • Transaction Detail 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 0 Z T i t Your Portfolio at a Glance Market Value of Your Portfolio m TOTAL VAUJE OF SECURITIES THIS PERIOD 77.489.063 Cash & EmAaiont szta3s.een S-2:023.447 NET CENT BALANCE .28.336.981 $77.489.063 Egad $73.312.149 NET EOINTY This Pomo 549,162.082 Conn motet value ME I statements market YON NET EOURY LAST STATEMENT 44.388.702 r CHANGE SINCE LAST STATEMENT 4.763.380 im Stet Media yam There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account 669TSEOCIN9- ANGS Peale Pegert Y./ arow e• ace-ecep al teem w deele„rettee4 es eelend 033 Honiara ta rto-Hoceoi anew' 0/y. IS not Rte*: is 3 the CO 3433e1C. b Clef Seven a, 100.344420. Sowei Bee Veen. Storm Iltifteet 0.3.10 1 reared ler yea teeere• S44 rears pea nr rypensee oforryinn Co.n. 0-e weeeete Cofer Yen SysoliSs 1.20, 010, 027 103304 '1 07 001 TATA rn I S IJ IJ EFTA01260629 CWflO THROLOH 03 -an 0y0.40 SuBSOWer ker. 3tecens — Carp. One Yemeni Cain Myth *WO" New rem 11201-3339 Ma 272.1000 FINANCUR TRUST COMPANY INC 2 ea 0 z ii STATEMENT BACKER IS PRINTED ON THIS PAGE C in z -H r OOLTSE00- 019- ANGS 011 1013000:1110 Wl 912 rn I S IJ IJ IJ EFTA01260630 02.01110 nacuroi ITS YO•(ti, 010.483 SUEE100.RY OFFICE SERVICING YOUR ACCOUNT OW. 511•n Stoles Co? Bear. Steams & Co. Inc. BEAR 383 Madison Avenue Ow 14terctech Cots Not Inoltn. Noy Yet 11201.1469 cm) STEARNS New York. New York 10179 (212) 272.2000 272.1003 FINANCIAL TRUST COMPANY INC 3 4, I STATEIAENT n1000 OCIOECE 1.2004 ssoccon October 29.2004 ccouLfr /Ann Cash Flow Analysis Income Summary TAXPAYER winICR Co Fre IT4S 91909 NIS $(909 MU' TO DATE LAST SEATEmPiE Seotembed 30.2034 Dividends 120.000.00 1.131.250.60 OpeningBa lance 5-28,923.447.42 StOstkute Payment 0.03 85.222.00 DividondsInterest 120.00000 Crete Bain° Int. 0.03 398.34 Miscellaneous 526.380.00 Total 5120.000.00 $1.216.870.94 0 Amount Credited DiridendsAntereu 04 , 90 5646.380.00 -59.914.07 Foreign Tao YAtriheld Margin Inc. Paid 0.00 -59814.07 .2.033.91 -435,15861 Amount Debited 859.91487 m Net Cash Activity 586.465.93 Portfolio Composition C in ClosingBalance 5.28.336.981.49 CaslVCash Eq.:Nolan SIORT 28.336.981 LONG Entities 77.489.063 Your Portfolio Cash Balance Summary Total 528.336 981 577 489 063 Allocation OPEIPKG aeons r Margin .28,923.447.42 48,336,981.49 Net Cash Balance 5.28.923.447.42 S-28.336.90.49 Stal Casa & EgtiVa 26% TOLTS£00- 019- ANGS founts 74% Unitt1O14 amen Owls 0w tale. sraVo. Vol ',ow virus ml aloulon rwtoWl• * fen< Fo.• tie a:wag ma* vat* el yaw ralbla 027 104004 11 50 C01 5164 EFTA01260631 CLEN110 Tnnetcm rts %Tao, OveseD Sussman OFFICE SERVICING Via ACCOUNT Sur. Sin Smsita COM- Bear. Steams & Co. Inc. BEAR 383 Madson Avenue New York. New Yak 10179 O,* VetOtelai Colo Win Wont/1 Men Yost 11201.19.19 STEARNS (212) 272-2000 1212)272.1003 FINANCIAL TRUST COMPANY INC 4 ae STATDAPO FIJSOD October 1.2034 9490USTI October 29. 2004 ACCCV41 µMIER TAXPAYOI Kant On rile Your Portfolio Holdings LAST &wives, Semente 30 2004 CASH 8 CASH EQUIVALENTS PURIM (SIVA= CL NT OLSCSIPTISN SrinialCuSur Ouunnv NICE vAUM Ankt91 NCO.* YlilD CASH BALANCE .28.336,981 TOTAL CASH & CASH EQUIVALENTS 1-28.336.981 -n EQURIES Equities 8 Options C The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the Firm's Equity Research Department. The first rating represents the stock's total return in relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform: P = Peer Perform; U - Underperform, The second rating represents the rating of the coverage universe relative to the regional broader market index, The key fa the sector rang is as follows: MO = Market Overweight: MW - Market Weight: MU - Market Underweight. In cases where 8 BSC rating is present. the name of an independent, third-party research provider and their rating may also be displayed. where such research is available. The various providers have normalized their ratings systems as follows: B - Buy: H - Hold: S = Sell. The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent. third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research r at www.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. OISCAITIOk SnAtOJCUSts ACC1 TYPO 011.441Wf PRICE ILTAXET iMLE BYNUM 0.14.1A1 %CPA CLINSOrt HSDN BANK OF AMERICA CORP BAC MRGN 200.000 44.7900 8.958.000 360,000 4.0188 BSC RATING: STOCK WSECTOR In! N.A.B. RESEARCH. L.T.C. RAMC: B WALT DISNEY CO HOLDING CO DIS CASH 250.000 25.2200 8,305.000 52.500 0.8327 ZOLTS£00- 019- ANGS BSC RATING: STOCK FvSICTOR MO BOYARS ALTERNATNE VIMOINT RA1740: B 017 10/Xt04.11:60 031 C•14 EFTA01260632 Cu/ASO 71.0310.4 viCtix CAMEO SUSSICIAPY OFFICE SERVICING YOUR ACCOUNT Beet, Stearns & Co. Inc. Deaf. Stearns Scestin fop BEAR 383 mmason Avenue Now York. New York 10179 rM Metrtrech Cenler Nan Broeihn. Ip. von 11201415e STURNS (212) 272-2000 (312i 272.1X0 FINANCIAL TRUST COMPANY INC 5 raw Pire00 Omen 1.2004 no:own Oacter 29.2004 Your Portfolio Holdings (Continued) ACCOuVr kt•MER mann maw On Ms UST STATEMENT September 30.2004 Equities & Options (common) ACCT WONT ISIWATED OAIREXI OCSOISMON STIOX0.01P ME WANITIV MX WALE ANNUAL NOOK NEW EN WALT DISNEY CO HOLDING CO DIS NIGH 1.000,000 25.2200 25.220.003 210.000 0.8327 BSC RATING. STOCK P/SECTCR MO BOYARS ALTERS:LOVE YIEWPOOrt RATING: 8 0 FLEMR0mCS INTERNATIONAL OD BSC RAW: STOCK CVSEttOR MW FLEX CASH 100.030 12.0500 1.205,000 ATLANTIS RESEARCH RATING: H -n IFTLOST FIN HALT EUR1 INYST a. IFPSF CASH 100.000 3.5740 357.400 7.800 2.1824 C MBNA CORP KR8 MRGN 1.000.000 25.6300 25.630.000 480020 1.8728 in 85C RATING: STOCK 0/SECTOR TAY BOYARS ALTERNATIVE VIEWPOINT RATING: B z TYCO INTERNATION/J. LTD TYC MRGN 100.000 31.1600 3.115.000 5.000 0.1605 VECTOR GROUP LTD VOR MRGN 433.290 15.4600 6.698.663 693.264 10.3493 Total Equities& Options S77869.063 51.808.564 TOTAL EQUITIES 577A89,063 $1.808.564 r YOUR PORTFOLIO HOLDINGSESTIMA1ED ANNUAL INCOME 51.808.564 YOUR PRICEDPORTFOLIOHOLDINGS 549.152.082 EOLTSEOCIA19- ANGS 017 MIXT% II SO COI VII64 EFTA01260633 CLEARED MRDuCm ITS mace OARED SUBS0AM OHM SERVICANG YOUR ACCOUNT ODILStesns Stones Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue or. Wretch Wm limn ONENM Ina TM 11201.3859 STEARNS New Yak. New York 10179 (212) 272-2000 271.1000 FINANCIAL TRUST COMPANY INC 6 ar e STATINENT PERma WON 1.2004 Moteums Coate 29.2034 Transaction Detail ACODART NuweER TAIPARER LLAMA On Fee DIVIDENDS LAST STATtt4tC September 30.2004 CM otsceme4 STIMOJCUSIP OUNAM EAR a DENT MOW OEM NNW 10101/04 MBNA CORP KRB 1.000,000 0.1200 120,000.00 REC 09/15/04 PAY 10/01/04 TOTAL $120.000.00 0 INTEREST -n art 10/21/04 COCSORTON INT 0B038-66056 Snatt/CUS• GUMMY PAX MU Om AMOUr 59,914.07 ChM mom C 09/21 • 10/204202,51866% 8AL 28277087 AVG28545548 in TOTAL 5-59,914.07 MISCELLANEOUS art LOWY MANSALMEN OESCRIPTirm CENT NA01an elf! Nara 10/01/04 JOURNAL FROM 04041258 178.088.00 r 10/01/04 JOURNAL FROM 037-50075 348.312.00 TOTAL $526.380.00 POLTS£00- 019- ANGS End OE Statement tut 101000110 001 EFTA01260634 CLURIO THROUGH Hi WHOLLY OrRIE0 SUIRRealte OFFICE SERVICING YOUR ACCOUNT bar. Awns Sams O241. Ben, Steams & Co. Inc. BEAR 383 Mason Avenue New Yoh. New York 10179 OI Wetrtfecti Com lent erceUr. tin Tat 11203/59 STEARNS (212) 272-2000 2711OOO FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE ZICHERMAN,IRA STATORINT sumo SepternW 1.2004 TELEPHONE THwoucN Seoembee 30. 2004 vlSIT OUR wEBSITE www.teantearns.com ACCOola MUMMER What's In This Statement TeatRANTR Nam On Fie Val STATnera Most 31,200a Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C/0 AMERICAN YACHT HARBOR ' Transaction Detail 6 6100 RED HOOK SUITE B-3 Your Messages QUARTERS #2 ST IMO/AS VI 00802 0 z m C Your Portfolio at a Glance Market Value of Your Portfolio in TOTAL VALUE OF SECURITIES 1146 PERIOD 73.312.149 Cash & iota, 1-28.923.447 z NET DEBIT BALANCE -28.923.447 Equkia S-29.121.602 173.312.149 172-1031.0IIS NET EOM THE PERIO0 944.388.702 Gunera market value NET EQUITY LAST STATEIAENT 43.679.493 ME IAN staternencs market vatic r CHANGE SINCE LAST STATEMENT 709.209 I= Skit Rana Vat There are no 'Stop Loss' orders or other pending dry or sell open orders on file for your account. SOLTS£00- 0/9- ANGS Ps. %sin any Moreno. n en:4•X Ce CYO. ce .Mn.Nand so .1•4nrad a rau beiwilf•NonacE0411-/42t tr velb Union eat. WSW. Soc.nes Ca". Cep* ilbtersen Citify Awn lhatnr. Nr I12,01.3055 STK "NI enrrary lir rbrtrialoial wows vet tem et eiCe0 as a tat dewing. The to:ennt WW1be manes lovas nw Sea tobw•e sde anwnal &Omuta. 027 laol,o4o> 49 001 EFTA01260635 ra caw, TigtOLCH ITS WriCtLy CM%E0 SullSOURY Bear. Stan %wiles On. O.e WeltUCti Cris Plain liwity% at I 201.31159 1214 372.1CCO FINANCIAL TRUST COMPANY INC 2 en 0 0 STATEMENT BACKER IS PRINTED ON THIS PAGE C rn z -H r 9OLTSECICIA19- ANGS 02? 1001AN:O3:M C01 ylbt3 EFTA01260636 CUOMO it. in NWl OV•tn> SunMin MICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. M. Simms Sernee CALK BEAR 383 Madison Avenue New York. New York 10179 ore kreetioth Cern fen n en% In Tort 11201.1652 STEARNS (212) 272.2000 2123 212.1000 FINANCIAL TRUST COMPANY INC 3 a9 STATIP•PiT PEROD Seger:We- 1.2004 INIMX.Ca Seuember 30.2004 ACCa retr ninth Cash Flow Analysis Income Summary UneVER NUMMI On Fix 1101100 114$ HERM 'AM 10 OM LAST storken Atoka, 31.2004 OpeningBa lance 5-29.121.602.33 Dividends 255.063.20 1.011.250.60 Substr.ute Payment 0.00 85.222.00 Dvider4sfinterest 255.06120 Grade. Balance Int. 0.00 398.34 Miscellaneous 13.81 Rani 5255.063.20 51,096,870.94 Amount Credited 5255,077.01 Foreign Tax Withheld 0.00 -2.03191 Dividandsinterost Charged -56.922.10 Margin Mt. Paid -56.922.10 -375.244.54 -n Amount Debited Net Cash Actinly 5-56.922.10 198.154.91 Portfolio Composition C in ClosingBalance 5-28.923.447.42 SNORT tarn CasNCash Equirelent 28.923.447 Equities 73.312.149 Your Portfolio Cash Balance Summary Total 828.921447 873.312.149 Allocation Ctosec Margin -29.121.602.33 -28.923.441.42 r Net Cash Balance 5-29.121.602.33 5-28.923.447.42 Snort Cash a &ink 28% LOLTS£00- 019- ANGS Framers 72% KfC0•4 den:. tibM* INK/ tiOt tuns nun no natal porotemmt erne rem P. a.M.SAN mere w a ycn w10010 027 10.0104b7 49 CO1 nel I8 b.) IJ EFTA01260637 =RAF= THROWN ITS YoNttlY OWNED SUESOMAY OFFICE SWUNG YOUR ACCOUNT BEAR Beat. Smarm & Co. Inc. 383 maaisen Avenue 0'. M. Sitars SeaelEes Com. IkOolech co EreclOr. n. at RAS 70 -SOS New York. New York 10179 STDMINS (212) 272-2000 121212720000 FINANCIAL TRUST COMPANY INC 4 a • STATEMENT veto, secumsee I. 2004 THROWN SficirnOtv 30.2004 PCCOVIT NUMEER TAXPAYER Pornet On no Your Portfolio Holdings LAST STATELIEWT Alrty.rit 31.2004 CASH & CASH EQUIVALENTS M M ESEWATED CURRIA11 0 Ot30.1104 CASH BALANCE STINCAPCUSP -28.923.447 ALUE VAI N IKO/ MEOW TEM 00 0 TOTAL CASH &CASH EQUIVALENTS 5.28.923.447 m EQUITIES Equities & Options C The research ratings (or Bear Stearns (BSC) are ShOwn (or certain securities covered by the Firm's Equity Research Department, The first rating represents the stock's total return in relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform: P - Peer Perform; U - Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO - Market Overweight; MW = Market Weight MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available. The various providers have normalized their ratings systems as falcnirs: B - Buy: H = Mold; S - Sell. the ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent. third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent. third-party research on certain companies covered by the rim's research is available to customers of Bear Steams at no cost. Customers can access this research r at vnwr.bearsteams.com or can cal (800) 517-2327 to request that a copy of this research be sent to them. ACCT VAREET ESnrmico CURRENT DESCAJPIION SYMECUCUSIP mE CAMAIMY MIKA VALUE S3AM. NONE MEIN BANK Of AMERICA CORP BAC AIRGN 200.000 43.3300 8,666,000 360.000 4.1542 BSC RAMC: STOCK 0/SECTOR MW NAB. RESEARCH. LL.C. RADNG: 8 WALT DISNEY CO HOLDING CO 015 CASH SOLTS£00- 019- ANGS 250.000 22.5500 5,637,500 52.500 0.9313 BSC BARG: STOCK PISECTOR MD BOYARS ALTERNATNE VEYIPCIAR RAMO: 027 te‘01/04.07:40 001 VDU I S IJ IJ p EFTA01260638 GAME° Togiar../4 its voiCu Ow ED SIALICIARY (*FCC SERVICING YOUR ACCOUNr Bear. Steams & Co. Inc. Sea. $t to Stant Cap. BEAR 383 Madison Avenue New York. New Yea 10179 one 1Arpcup" Coors /Wei 111111,0T1 Its Von 11201.3850 STEARNS (212) 272-2030 (21111714= FINANCIAL TRUST COMPANY INC 5 atcrevatirr Pomp Septurter 1. 21]6 T.ROUGH Stplerrtce 30.2004 Your Portfolio Holdings (Continued) ACOC, wts./SER TAxPAYER mAeart Co No L'S' STA- VIIVer Auyst 31. 2004 Equities & Options (conthied) rat Win MUM Oiled! °escarps SYLISOLCUS1P 'III OUANTSV met VALUE Ma WOW MOD in WALT WHEY CO HOLDRIG CO DIS MRGN 1,000,000 22.5500 22.550.000 210.000 0.9313 BSC RAnnt: STOCK P/SECTOR MO BOYARS ALTW4ATNE VIEWPC•fr RAMC: B FLICHRONICS INTERNATIONAL FLEX CASH 100,000 13.2500 1.325.000 LID BSC RCM: STOCK 0/SECTOR MW ATIANTS RESEARCH RATING: B -n 'MUST FM ITAL) CURT INVST Cl. IFPSF CASH 100.000 3.5530 355.300 7.700 2.1672 C MBNA CORP BSC PANG: STOCK 0/SECTOR MW KRB LIMN 1,003.000 25.2000 25.200.000 480.000 19048 in BOYARS ALTERNATNE VEWPOWT RAMC B TYCO INTERNATIONAL LTD 7C MRGN 100.000 30.6600 3.066.000 5.000 0.1631 VECTOR GROUP LTD VCR MRGN 433.290 15.0300 6.512.349 693.264 10.6454 Total EqUitiOS& Options 473.312.149 41.808.464 TOTAL EQUITIES 573.312.149 51,808.464 r YOUR PORTFOLIO HOLDINGSESTIMATED ANNUAL INCOME 51.808.464 YOUR PRICEDPORTFOLJOHOLDINGS 544.388.702 6OLTSECICIA19- ANGS 100104.01:40 001 VMS rri 8 IJ V.2 O EFTA01260639 CLLAAED THROUGHTw VOARLY 00,0.0 SLASAMARY OFFCE SERWCAG YOUR ACCOUNT es. 3'—, Situlit CRP. Bear. Steams .6 Co. Inc. BEAR 383 Madsen Avenue New York. New York 10179 Coe &women Cfl at bozo" may Tort 11201.3059 STEARNS 1212) 272-2000 (212) 2,2.1[00 FINANCIAL TRUST COMPANY INC $ re STATE3RAT IVACO SepterrOtf 1.2004 Inmptica., Septertef ]0.2004 Transaction Detail ACONAR Nati( TAVAYER amt On INVESTMENT ACTIVITY LAST STATMOR Avgqt 31.2004 SETTLEMENT VAX Dalt TIMMACTEST CCOSP110.4 Syme awry PACE 0181: AURAL( CR10' WC(‘' 09/29/04 09/20/04 BOUGHT VECTOR GROUP LTD VGR 20.632 SEE NOTE t ON BACK STK ON ON 412658 5115 REC OP/20/04 PAY 08'29,04 AS OF 091204)4 m DIVIDENDS OAR oesauenow sweewcuse cam PAR (SI DEW AWN( CR= ALCM ci m 09/24/04 09/29/04 BANK OF AMERICA CORP REC 09103/04 PAY 09124834 VECTOR GROUP LTD MC VGR 200.000 412.658 0.4500 0.4000 90403.00 165063.20 RCC 09/20604 PAY 09029/04 TOTAL 5255.063.20 H INTEREST r omy oescErimok SYUNKJWSP OJAMITI RATE OR COO AVON' CREW /MOUNT 09/21/04 INT DB 038-68056 56.922.10 08/21 • 09/20 602.27018% EIN. 29121802 AVG29118197 'OTP. S-56.922.10 OTLTSEOCINDANGS oxY 100104:07,49 CO1 VOIR I8 IJ IJ p IJ EFTA01260640 CLEARED IRROLGAI ITS WAOLLY OMCD oasolort OFFICE SERVICING YOUR ACCOUNT Dee Sian 540.41144 Cap. Bear. Steams & Co. Inc. BEAR 383 Madison Avenue New York, New York 10179 CAR Renee Celt Ranh lemee New Yoe 11201.3859 STEARNS (212) 272-2003 (2121 2T2.1000 FINANCIAL TRUST COMPANY INC 7 re 9 stArEme AT Ammo SeNenter 1 2004 THROVON Septette 30. 2004 Transaction Detail (continued) Atee NY «RAMER TAXPATER IRAMEIt th Pb DISTRIBUTION LAST sTATEmwr Awn 31.2004 DATE TWEACTErl DESCRIPTION SYMICOCINt RATE AO 0180 ANON! CREW AMOUR, 09/02/04 STOCK SPLIT BANK OF AMERICA CORP BAC CCO SIX SPUR ON 1=00 MIS REC 08/06Mo PAY 00/27/04 TOTAL 0 MISCELLANEOUS -n DATE VOW TRANSCO% DESCSIIPTION CREDIT AVOUNT 09:30/04 CASH-LIEU VECTOR GROUP LTD 13.81 C CASH IA LIDA OF .90000 REC 09/20504 PAY 09'29 CT in TOTAL $13.81 r VELTS£00- 019- ANGS 027 100'040)49 001 V083 8 IJ IJ p O LAJ EFTA01260641 0..CARIO THROUGH rra woOtor Owe) SLOSCIARY aria SERviCING YOUR ACCOUNT Sew scam Secutles Coo. Bear. Steams & Co. Inc. BEAR 383 Madison Avenue New VA. New York 10179 Ole MOrceeth Ca &wen vi York 11201.3859 rtz 212.1CCO STEARNS (212) 272.2000 FINANCIAL TRUST COMPANY INC 8 ce 9 STATTlisrer PttCO SePterthet 1.2034 TxA0D0v Septa-rote 30.3004 Atassii 74.804n4 r4.4•98. On Fie Your messages LAST tralt.eXT AupS1 31. 2004 Bear. Steams Securities Corp. Net Capital and Net Capital Requirements: Securities and Other assets in your account are the Gm's collateral for any margin loan made to you. If the securities and other assets in your account At May 31. 2004 and July 31. 2004. the Company's net capital of decline in value. so does the value of the collateral supporting your loan, and. approximately 43.6 billiOn and 43.6 biliOn was approximately 6.8% and 6.5% as a result the firm can take action, such as issue a margin call and/or sell 0 of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately S1.1 billion and 41.1 billion by approximately 42.5 billion and 42.5 billion, all respectively. securities or other assets in any of your accounts held with the member, in order to maintain the required equity in the account. It is important that you fully understand the risks involved in trading Securities on margin. These risks include the following: A complete copy of the Bear. Steams Securities Corp. Statement of Financial m Condition is available on the web site v/ww.bearsteams.com. Alternatively. to • You can lose more funds than you deposit in the margin account. request a free printed copy please call - tot free 1-866-299-9331. C • The firm can force the sale of securities a other assets in your account(s). in • The firm can sell your securities or other assets without contacting you. • You are not entitled to choose ixtiich securities or other assets in your account(s) are liquidated or sold to meet a margin call. • The Ism can increase its 'house maintenance margin requirements at any time and is not required to provide you advance written notice. r • You are not entitled to an extension of time on a margin cal. ZILTSEOCINDANGS 027 1001,04:07 49 cox ole3 to I8 b.) V.) 2 EFTA01260642 04ARID ITISOursi ITS wHOLLY OSSEO IOSSOURY arc( SERVICING YOUR ACCOUNT Nes Sa ns Seost0 0c* Bear. Steams & Co. Inc. BEAR 383 Madden Avenue New York. New York 10179 Ore Utecetch Casa Pan baits New at 20I.1409 STEARNS (212) 272-2000 0121 2720040 FINANCIAL TRUST COmPANT INC 9 aa STATVADR PERM SISSembIS 1.2004 THROUGH Septernbe 30.2004 Accow, KAISER mceAVER KAMA On Fie LAST STATruber sows 31.2004 This statement is provided to explain Bear. Steams & Co. Inc.'s (BSC) payment for order flow practices. aa' Pursuant to SEC Rule 11Ac1-6. please note the following: BSC routes a majority of orders for customer securities transactions to the Bear. Steams & Co. Inc. will post its quarterly routing statistics at the following primary market for such securities. Orders may also be routed to other market web link: httpiriwriv.bearsteams.com. Click on Individual Investor. Click on service vendors that assure executions pursuant to complex mathematical Equities. Click on Order Routing Practices. 0 formulas at better than the national best bid or best offer (NBBO). BSC receives no cash payment or other consideration for such order routing other Customers of Bear. Steams & Co. Inc. may request information on any order z than favorable execritions or executions of limit orders at no additional charge. executed within the prior six months from the time of the request. Specifically. -n you may request the identity of the venue to which the identified orders were routed for execution, whether the order was directed by you to that venue, and the time of the executions. if any. that resulted from such orders. C rn z End of Statement r EILTSEOCIN9- ANGS 027 1001.04.07:49 COI VS63 EFTA01260643 Cat= na0U044 ITS stmatt-Y ottitart auaeouur CITE( SERVICING YOUR ACCOUNT Oar Suomi Soarillin Bear. Steams & Co. Inc. BEAR 383 Matson Avenue RIM WAWA orate myth bcatfk NM tot 11201-7158 STEARNS New York. New Vol 10179 (212) 272.2000 12121212.1400 FINANCIAL TRUST COMPANY NC ACCCOPIT EXECUTIVE ZICHERMANTRA STATIMIENT PPM Mg 31.2001 TELEPHONE 110477/.0 &gust 31.2004 VISIT OUR MOSHE wmtlathorgearns man ACCOUNT Wigan What's in This Statement I t'OPAYEJI mama On Fie ;AST STATENENT lull W. 2004 Financial Summary 3 FINANCIAL TRUST COMPANY INC You Portfolio Holdings 4 C/O AMERICAN YACHT HARBOR ' Transaction Detail 6 6100 RED HOOK SUITE B3 QUARTERS *2 ST 'MOWS VI 00802 z ii C Your Portfolio at a Glance Market Value of Your Portfolio in 107AL value Of secueiTES TIES PERIOD 72.801.095 ciona. ei•Aerti $-29.121.602 z NET oar emANcT -29,121,602 5.29.070.063 572001.095 573.256.770 NET mum THIS PERIOD $43.679,493 Oprem meeker mike NET EQUITY LAST STATEMENT 44,186,707 NM last statements market yaw r CHANGE SINCE UST STATEMENT -507.214 )=I Stew market vatka There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. VELTS£00- 019- ANGS Pete lepyl gory Oileerat a. rsnacnt el chins of Sea Maw s. Ottond ytu, sunny), S to mmg0o prpnel DIVA I ml ottecitd 30 a tax 62Cormit ChieR Sienst N SOC-411.1•24; Ow.* to Cart Sows, Bow Von Soot Mut Tit :IMMO efult: be teased for rut WOK* Sn reels SI Or nOtrtal rOannaDao On. Ce• N.pC.A 6~ mem. awake. Nv !120,3460 021 00011)4,08 31 COI ‘1382 En I S b.) IJ p O 0' EFTA01260644 WARM TraCNO4 r ,.,c.. 0%47101/ SULSOAFr, SIN SWIM Swoon Ca,. Oro warmth CAM( WI% 12001027 MPx Olc 20 3819 13121 2720000 FINANCIAL TRUST COMPANY INC 2 0 0 STATEMENT BACKER IS PRINTED ON THIS PAGE in z -H r STLISEOCIA19- ANGS 02/ 0901890931 001 l62 EFTA01260645 CLEARED 043Oure. ass 1ThOux Omit° stasautt OFFICE SERVICING YOUR ACCOUNT Bear. Steams a Co. Inc. Bev Yen Swart*. Cep. BEAR 383 Madison Al/tale New Yak. New York 10179 Ca• Manna GMT Nets tn." Mew Von 11201.1852 STEARNS (212) 272-2C00 0 10 272.1000 FINANCIAL TRUST COMPANY INC 3n STATEMENT PEP000 My 31. 2034 1141000m Aug451 31. 2004 IC.COLKT Wind Cash Flow Analysis Income Summary 750AYIR KHMER On Fik DRS PC230 1113 ,c Co TEAR Meng LAST ST431144044 Jul, 30.2004 OpeningBalance $.29.070.063.39 Duiderxls 1.250.00 758.187.40 Substitute Payment 0.00 85.222.00 Ohidendsenterest 1.250.00 Credit Balance Int 0.00 398.34 Amount Credited 51.250.00 Total $1,250.00 $841.807.74 0 Deldendsenterest Charged -52.788.94 Resign Tas Withheld Margin Int. Paid 0.00 -52.788.94 -2.033.91 -318.322.44 Amount Debited S-52.788.94 ii Net Cast, ActMq -51.538.94 Portfolio Composition C ClosingBalance $-29,121.802.33 in Car-Wash Equaalem SHOAT 29.121.602 WIG Cash Balance Summary Equities 72.801.095 Your Portfolio 000434 0105116 Total 129.121.602 172.901.095 Allocation Magin -29.070.063.39 -29.121.802.33 r Nat Cash Balance 1.29.070.063.39 S-29.121.602.33 Shan Casa & 28% TELTSEOCIA19- ANGS ka51545:1 folvs ova* ow tan nee Yen 5.55•1 Was Tn. scam :414143.. I IPS< Won CIP letelala IW114 Hu 4)50 250'041 027 030'0/ Ce 31 001 V052 IJ IJ p JCL O EFTA01260646 CLIARSO MIOUGYI FIE WVOLLY OVMEO suesoaer OFFICE SERVICING YOUR ACCOurn Bear. Stearns & Co. Inc. Few 5*a-ft Secabas Co..p BEAR 383 Medeson Avenue New Yoh. New Yoh 10179 Wasann Crnw Nom Sew., Nn cdc • 2) 3439 I2113212.1000 STEARNS (212) 272-2000 FINANCIAL TRUST COMPANY INC 4a SUMMIT /MOO Mi at. 2004 IMOUM Aictift 31. 2004 ,ern«r µNKR TOZPAYM NMPIIER 011Fle Your Portfolio Holdings LAST STATEWNY My 30.2004 CASH & CASH EQUIVALENTS 141.0tET ISTMAIED CUNENE OESC*113n SnaliCt/Cutt OSWITYY PRICE wLLf ANNuAN WOW MOD MO CASH BALANCE -29.121.602 TOTAL CASH & CASH EQUIVALENTS $-29,121,802 -n EQUITIES Equities & Options C The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firm's Equity Research Department. The fist rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform: P = Peer Perform: U - Underperform. The second rating in represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight: PAY - Market Weight: MU - Market Underweight. In cases 'Mere a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available. The various providers have normalized their ratings systems as follows: B - Bur H - Hold: S = Sell. The ratings information contained herein is for informational purposes only and is not Intended to provide tax. legal or irwestment advice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent. third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost. Customers can access this research r at vnwr.bearsteams.corn or can cal (800) 517.2327 to request that a copy of this research be sent to them. MKPIPI1M SYMOLOMP ACM nfl DAMN PME WAICLI MU 131110ARD AMA/ WOK OARDIT MUD r% BANK Of AMERICA CORP BAC AfiGN 100,000 44.9800 4.498.000 180,000 4.0018 BSC RATIIG: STOCK 0/SECTOR MW NAB. RESEARCK LLC. RATING: B WALT DISNEY CO HOLDING CO 06 CASH 250.000 22.4500 5.612.500 52.500 0.9354 LILTS£00- 019- ANGS BSC RATING: STOCK FISECTOR MO BOYARS ALTERNATIVE VIEN9OPIT RATING: B 027 06010/10821 OM MIS2 Er1 I S IJ IJ p S EFTA01260647 CLLASID mown TS NIMMIY orace0 SuSSIOMY OFFICE SERVICING YOUR ACCOUNT M'. Samna Sacwires Cars Bear. Stearns & Co. Inc. BEAR 383 Nadu,' Avenue New VEAL Nov York 10179 Ora larSouth Cense Nam Srealar. Paw Yu* 11201.3*S. STERNS (212) 272-2030 (2123 212.1000 FINANCIAL TRUST COMPANY INC 5v' STAMEN" PfP100 .1u/131. 7004 11010UOM Myatt 31.2004 Your Portfolio Holdings (continued) AOCaM MINER TAXPAYER POW OT EJe LAST STATTIAINT JUIS 30 2004 Equities & Options (concaved) Ma War ESTRUM CURAINI OLSOISITal SYYSOUCLIST Mt 0.100./ MKS VALUE Oak ACME OSLO PO WALT DISNEY CO HOLDING CO CIS MGR 1.000,000 22.4500 22.450.000 210.000 0.9354 BSC RATING: STOCK RSECTCRM3 BOYARS ALTERNATIVE WEIWOINT RATING: B FLEORONICS INTERNATIONAL FLU CASH 100.000 12.4100 1.241.000 LTD EISC RAMC: STOCK OISECTCR MO APANTIS RESEARCH RATING: 8 m BROST FIN ITAL) TEMP CASH 100.000 3.2170 321,700 9.128 2.8374 EUR1 INYST CL C MBNA CORP KRB MRGN 1,000.000 24.1400 24.140,000 480.000 1.9884 in BSC RAMS: STOCK 0/SECTOR MW BOYARS ALTERNATNE VIEWPOINT RATING: TYCO INTERNATIONAL LTD TYC MGR 100.000 31.3200 3,132,000 5.000 0.1596 VECTOR GROUP LTD VGR MRGN 412.658 16.7400 6.907.896 660.253 9.5579 Total Equities& Options 568.303,095 51.596,881 TOTAL EQUITIES $68.303.095 51.596.881 r WELTSEOCIN9- ANGS 02/ 00010M0831 001 YMa I> 8 IJ 0.) O EFTA01260648 C.X.010 rmeOuM ITS MOLLY <MED SueSomv OFFICE SERVICIOG YOUR ACCOUNT Be.,. Mans Swat Gap BEAR Bear, Stearns & Co. Inc. 383 Mackson Avenue Ore ihswwah Caen Nfl wocor. Wes vat lint -ASS STEARNS Now Yak. Now York 10179 (212) 272-2000 2121272.1000 FINANCIAL TRUST COMPANY INC 6 STAMesrt 'taco lull 31. 2004 Twear4H August 31. 2004 Your Portfolio Holdings (continued) Account rises OTHER HOLDINGS TM:PAYER MRSER On Si* LAST swum? July 30.2034 Pending Stock Distributions ACT WI XT MMUS° ELMO DISOWTON SWAOUCUSP ME 0.ucony tee ULU! AMU ACME YRID aJ BANK OF AMERICA CORP MC MRGN 100.000 44.9800 4.498.000 180.000 4.0018 SIX SPLIT ON 100000 SH5 REC 08/08/04 PAY 0127104 Total Pending Stock DiStElbUEIM1 54.498.000 1180.000 TOTAL OTHER HOLDINGS 54,498.000 1180.000 -n YOUR PORTFOLIO HOLDINGSESTIMTED ANNUAL INCOME 51.776.881 C YOUR PRICEDPORTFOLIOHOLDINGS 543.679.493 in z Transaction Detail DIVIDENDS r out ECCRIFIMI SMalCuSle COMM MIEN) OWl APOAT CnOrt AuCtte 08/0204 TYCO INTERNATIONAL LM TYC 100.000 0.0125 1.250.00 REC 07101104 PAY 08102/04 TOTAL $1.250.00 6TLISE00- 019- ANGS 027 090113.10401 Co! SOS: rn I S IJ IpJ EFTA01260649 ctsno ThreDUOm RS Ve•XLY OWNED SUSSOARI OFFICE SERVICING TOUR ACCOUNT but Swam Saarba Co Rey. Steams a Co. Inc. BEAR 383 Maclimn Avenue Ore Ilartech C— Wei *00*,. Now Yet 112014 SO STEARNS New Yoh- NOW 741k 10179 (212) 272-2030 R12 2121003 FINANCIAL TRUST COWANY INC 7vr $1 **Neff PEF*00 JuN 31.2004 nce0O374 August 31.2004 Transaction Detail (continued) Acccourt iuukeen ?AVANT* MAW Orl FIN INTEREST Ler STATIMOrt eel 30.2004 OUT 0TSCRFIX7ii SwAtql.cvsw pµSIRI Reit (V AI $T CRUX AuOuvrl 08/23/04 INT D8038-66056 52.788.94 07/21 - 08/20 802,101186 II 29068813 AVG29060217 0 TOTAL 5-52.788.94 z m STOPI End of State re C in z -H r OZLISE00- 019- ANGS 021 oseio(ce 31 001 v.62 I S IJ IJ pp IJ EFTA01260650 0.EARED lIMICOCH rrS WITOLLY OWNIE0 SUMS:VARY OFFICE SERVICING YOUR ACCOUNT Bea Sawn Seaton Cap Bear. Stearns & Co. Inc. BEAR 383 Mac330n Avenue New Yoh. New York 10179 Ole Slettath Cann Mai t%O,n. kw Yon 112014859 STEARNS (212) 272-2OOO (21?) 272-1000 FINANCIAL TRUST COMPANY INC ACCOUNT ExEGu In ECHE R3AANJRA STATIWNT PS600 My 1.2004 MEPHONE Tlft0tGN Ali 30.2004 VIM OUR IHEOSITE vnyuGemsteems.com AOCOMiT 3.3.9.434ER What's In This Statement Il...11...l..I.II..,..I.I TAXPAYER MAW On It LAST STATMENT June 30. 2004 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 00 AMERICAN YACHT HARBOR • Transaction Detail 6 6100 RED HOOK SUITE B-3 TO1NR0UNO0 QUARTERS #2 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio Cash a Equitelerc I 546.070.063 TOTAL VALUE OF SEMMES TIM PERIM 73.256370 I S4AL772.876 NET DEBIT BALANCE -28.070.063 Equtin 173.256.770 $71.S815.364 NET EQUITY MS PERMS $44,186.707 Cart Mate value NET MUM LAST STATEMENT 49.113.488 III last statement's market value l=l SMm Mbfkill %SOB GRANGE SPICE LAST STATEMENT -4.926.781 There are no 'Stop Lou' orders or other pending buy or sell open orders on file for your account. TUTSEOCMANCIS Para .e f.1 ari 6tearte Te an-nee: a ants a Teat nannt9 a alarad cwt 11644-nny 8433 rn.334 3 cco'os Crly. t 13 nit liteided an en {Janet C en: Swan a 6406164426 n Tea 44 Ota Sett.. t 66v S,ew. Swint* T1 unmet fl an be Mined Iw yti.r novas S44 new So Ice rpccthel Coa Or. 06•666% C6-16 Tata flan/., NV 112014649 02/ 07.'3104041 001 41511 I8 b.) IJ p EFTA01260651 4WD) INFIOVON 178 VMXIV Ofo.ED SVISOVAY Om. SUn Searles c OR Veto*" Om. NOM Ur. New eY 20 38$& (21Z 2/24000 FINANCIAL TRUST COMPANY INC 2 C) 0 -n STATEMENT BACKER IS PRINTED ON THIS PAGE in z r ZZLTS£00- 019- ANGS 027 01/31/04filuil COI YI.S. EFTA01260652 CLEARED ma:atm ITS %MOLLY 081CD SuBSOvav arra SERVICING YOUR ACCOUNT Oat Zion 524.01.4 Cop. Bear. Steams a Co. Inc. BEAR 383 Madison Avenue New Tot. New York 10179 One Vetattn Cn 494 44101C 11201.3659 STEARNS (212) 272-2000 I21b 222.1C00 FINANCIAL TRUST COMPANY INC 3 STAINS II 8FROD My 1.2004 11.190.44 My 30. 21:01 AOtOcte 4.4.41111 Cash Flow Analysis Income Summary 02054121 18242101 Co Flip nes Pout 145 PERM) 1TJP TO DA1t LAST stvrnavr Am 30. 2004 OpenIng8alance 5-28,77Z875.93 0Mdends 127.533.00 754,937.40 Substitute Payment 0.00 85,222.00 DividendsAnterest 127.533.80 Credit Balante nt. 0.00 398.34 klisceeanecus 24.618.788.69 ' Total 5127.533.00 S840.557.74 Amount Credited 524.746.321.69 Foreign Tax VAtNiald -2.033.91 -2.033.91 Funds Withdrawn -25.COOCC0.03 Mary Inn. Paid .41.475.24 -265.533.50 DitidendsIntemst Charged -n -41.475.24 WisceReineas -2.033.91 Portfolio Composition C Amount Debited 5-25.043.509.15 in Net Cash Activity -297.187.46 Cashreash 26.6019.9 SPORT 29.070.063 torai ClosingBalance S-29 070 063.39 0:6619 73.256.770 tens M Innhes d> Inealls aullwapp. re nal POMP la NS Your Portfolio 4414.8 40 kedges. aeratatdellb far r OW Walelltal aY 0.41. new a Transact 0414 Total $29.070.063 573,256,770 Allocation r Cash Balance Summary Stott Cash a E OPOING 0x0580 28% Cash 1,658,956.03 0.00 Margin -30.431.831.96 -29.070,063.39 ULTS£00-019-ANGS Net CashBalence 5-28.772.875.93 3-29,070,063.39 Equon 72% Unhpfal pawn& aro. an tarn ardt., von wane 114 04244 nonnespotassenes Pen M 10401.01 Patin %tiara , celbo 027 019104 08 41 001 I S IJ IJ p EFTA01260653 amino 114,CM114 rot m0..LY CeME0 81.411MMY OrrCE SErmairG YOUR /Cerium Met Seams Stmees Cwp Boar. Stearns & Co. Inc. BEAR 383 Madison Avenue Now York New York 10179 Ole AMMO, Woe Mon Mee,‘ Mu Mt 11301.3859 STEARNS 1212) 272-2000 (212)272.1000 FINANCIAL TRUST COMPANY INC 4s+ mATEMINT PERICO My 1.2004 71010uM My 30 2[04 ACeOurrt KAMM MAMMA NuuMn On F1 Your Portfolio Holdings LAP STAMINT lune 30.2004 CASH & CASH EQUIVALENTS 1.44RMT ESIMUTO 0.311100 Mean 5, 14801./CUS. OJAMITY PRICE MIX apt Mae IULO ri0 CASH MANCE -29.070.063 0 TOTAL CASH le CASH EQUIVALENTS 5.29.070.063 -n EQUMES Equities & Options C The research ratiogS (or Bear Stearns (BSC) are shown for certain securities covered by the Firm's Equity Research Department The frst rating represents the stock's total retwn rn relative to the other storks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform: P - Peer Perform; U Underperform. The second rating represents the rating of the coverage unNerse relative to the regional broader market index. The key for the sector rating is as follows: MO - Market Overweight: MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present. the name of an independent. third-party research provider and their rating may also be displayed. where such research is available. The various providers have normalized their ratings systems as follows: B — Buy: H Hold: S - Sell. the ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice. Bear Steams is neither soliciting any action based on such information. nor endorsing any recommendation or opinion expressed by any independent. third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent. third-party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost. Customers can access this research r at www.bearstearns.ccrn or can call (800) 517.2327 to request that a copy of this research be sent to them. A T vARCIT ESMAlt0 CURRIM IMMPTION MAMMA" Mt COMM PM MIX ANglal. iraCCM1 TIM ro BANK OF AMERICA CORP BAC MRGN 100.000 85.0100 8.501.000 360.003 4,2348 EIX itArwG: STOCK OISECTOR MN N.A.B.RESEARcH. LL.C. RATING: 8 WALT DISNEY CO HOLDING CO 015 CASH 250.000 23.0900 5.772.500 52,500 0.9095 PUTS£00- 019- ANGS BX RAM* STOCK P/SECTOR MI BOYARS *OMAHA vEwPONT RATIVG: B otl 07/31414a41 001 YNa EFTA01260654 CLEARED TIAROVON rra Loewe CeerED SVISOAARY 01710E SERVICING YOUR ACCOUNT Bear. Steams & Co. kw. Ia. Wan STMOret Cap. BEAR 383 Madison Ayenue New Tack. New Tack 10179 On IlentOi Cola *eh Sedan Pew Toe 11201.3µ11 1212)2721CW STEARNS (212) 272-2000 FINANCIAL TRUST COMPANY INC ci STerliithr eCe100 A.41. 2004 natOuOm My 30.2004 Your Portfolio Holdings (continued) wee.NT LANCER TAXPAYER MASER On Re LAST STATIIIIIIKT Air* 30.2004 Equities & Options (condoled) OCT IMPACCT Towne °Amon CCSOrienC44 SmMutanal WPC MCI Vila MEM WOK ro WALT DISNEY CO HOLDING CO DIS MRGN 1.007. 000 airt 23.0900 23.090.000 210.000 0.9095 BSC RAMC: STOCK P/SECT041 MO BOYARS ALTERNATIVE VEWPOINT WING: 8 FLEXITIONICS INTERNATIONAL FLOC CASH 100070 12.5700 1.257.000 LTD BSC RATING: STOCK 0/SECTOR MO ARANTIS RESEARCH RATING: B -n IFILTIST FIN ITAU EUR1 INVST CASH 100.000 3.3040 330.400 8.891 2.6910 M8NA CORP KRB MRGN 1.000.000 24.8900 24.690.000 480.000 1.9441 in EISC RATING: STOCK OISECTOR TAW BOYARS ALTERNATIVE VIEV/POINT RATING: B TYCO INTERNATKRTAL LTD TYC MRGN 100.000 31.0000 3.100.000 5.000 0.1613 VECTOR GROUP LTD VGR MRGN 412.658 15.7900 6.515.870 660.253 10.1330 Total Equities& Options 573.258770 S1.776.644 TOTAL EQUITIES $73.256.770 51.778.844 r CUR PCRTFOLIOHO_OINGSESTMIA7ED ANNUAL INCOME $1,776,644 YOUR PRICEOPORTFOLIOHOLDINGS Sa4,186.707 SZLTS£00- 019- ANGS 027 CO/3104Ceel 001 YW m I8 IJ IJ p EFTA01260655 <LUND nolOuGy. Its W1OU.V OWNED SLOSCrIAY OFFICE SERVICING YOUR ACCOUNT Bear. Steams I Co. Inc. Bmt. — Moses Os. BEAR 383 MadIscn Avenue One Meyamh Caten hot tirool6o. key rat 112014469 STEARNS New Yak. New York 10179 (212) 272-2000 ani 272.1060 FINANCIAL TRUST COMPANY INC 6a. STA111.0.1 PO MO My 1. 2004 0010UON My 30.2031 Transaction Detail ACODUNT MASA YAMPAYER KAMER On Fie DEPOSITS AND WITHDRAWALS LAST STATIMINT AA* 30. 2001 OATE TRAMALIMN CCSOOPOON OOP MOUNT COMO MOM 07/0904 END WIRED MCIAOCT777315FNOSWIRED TO 12.500.000.00 WW2( NA AC8101502624 RCM 0 07/06/04 HID WIRED MDAOCT777316FNDSWIRED TO CITIBANK NA AC8101502653 BCCW 12.500800.00 TOTAL 1-25.000.000.00 m DIVIDENDS C in MT! 07/01/04 DESCRIPT01 ITIOST FIN RAU Wall/16ST CS IFPSF COMM( 100.000 WH MIT (S) 0.0620 OM MOM 2.03191 ulcer MOST 783100 REC 06/30104 PAY 07/01/04 FOREIGN TAX WIDOWS 0701/04 MONA CORP KR8 1000.030 0.1200 120.030.00 RFC 06/1401 PAY 07/0101 TOTAL S-2 033 91 5127.533.00 r INTEREST DATE OLScArnow SMBOLCUS1P COMM WE ma air maw' CM DIT 07/2104 INT 08 038-66056 41.475 24 08/21 • 07/20 801.93262% 9ZLTS£00- 019- ANGS 841. 29028598 AVG26152634 TOTAL S-41,475.24 Oil 07/11/003141 CO1 0156 EFTA01260656 0.0"0 Dind+a en wi.OLLY OIRAD SOnOwar °MICE SERVICING YOUR ACCOUNT W. Shan inbes CoO Bear. Steams & Co. Inc. BBNR 383 Madison Avenue New Yolk. New York 10179 Ont ~NM Cs New flacqn Pin eh 20 IUD STEARNS (212) 272.2000 1212)272.1000 FINANCIAL TRUST COMPANY INC 7 d stammer PiPa00 NO 1.2004 ~eau July 30.2004 Transaction Detail (continued) AGO> ma we Tffironsc MAIM On FN MISCELLANEOUS tAST STATELENT June 30.2004 NTT I/AWAY lito.00TON CUOMO/ CEN1 MOST metal MOAT 07/01/04 JOURNAL FROM 040-51258 178.069 03 07/01/04 JOURNAL FROM 03740075 348.313.00 07/01/04 JOURNAL FROIt 033/102-22332-2-USD 23.000.000.00 0 07/02/04 JOURNAL • Jai. • JOURNAL FROM Mt 1TO 2 2.190.837.12 z T 07/02/04 JOURNAL .10UR/4,41. FROM TYPE I TO 2 2.190.637.12 F I 07,14/04 JOURNAL FROM )08/102-22332.2.USD 1.092.406.69 PER LOA TOTAL S-2.190.837.12 $26.809.625.81 in z End of Statement r LUISE00- 019- ANGS 027 07/3011.00 41 001 YeM rn IJ k ir ) EFTA01260657 0&ZA rsecuriu rrs ?MOLLY Owego SUOSIDVAY CIRCE SERVICIC YOUR ACCOUNT Been Steams a Co. Inc. 1w. Steen stein!{ CUP. BEAR 3B3 Madden Avenue New York. New York 70179 As MOSOU:01 Cew Nom free*. NW, nut 11201.3019 STEARNS 1212) 272-2000 1203 272.1CCO FINANCIAL TRUST COMPANY INC ACCCARIT EXECUINE ZICHERMANAA STAYSWPC sV000 May 29.2001 TtlEPHONE not0a9H June 30. 2004 VISIT CAR wERSRE wentboarsteams.corn ACCO.S0 /Mete What's In This Statement Ilml..MI II TAJONveta finalist On Fee .AS STATD4NT May 29.2004 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 CFO AMERICAN YACHT HARBOR • Transaction Detail 5 6100 RED HOOK SUITE 8-3 Your Messages 7 QUARTERS #2 ST THOMAS VI 00802 0 m C Your Portfolio at a Glance Market Value of Your Portfolio Important Message in TOTAL VALUE OF SECURITIES THIS P0#30 77.886.364 Caged Egukalent 5-29172876 S-31.716.148 Confirmation! Unless we hear from you to the contrary. it is ow NET DEBIT BALANCE NET EQUITY T) PERIOD -28.772.876 $49.113.488 Egar 577.888.384 576.308.062 understanding that arty free wed* balances In yet/ account are being NO Current market wAx, maintained to facilitate pi intention to invest En Last sutemenrs market whit r NET EOURY LAST STATEMENT CHANGE MET LOST STATEMENT 44.591.914 4.521.$74 =I SW( mars& vSe such amounts through us. There are no 'Stop Loss' orders cc other pending buy or sell open orders on Ale for your account. SZLTS£00- 019- ANGS Pew -KW a.Y drere• v rermcoet ce °Wks 4, axis 'Oral a. (ewer., m e... Tss sunnOry s he efeessiout SIMON. olS is sa rIentel as I tim 0003MOZ is Geri Swan sulte-S34-14rt o. moo I' Cart Swan-Yew wry Securest Cn• Menned, Caner Sten. eradds. 10 489 gic 11•4 unmet ;MIN et TLNN ti yxr neva See twine tAle 1N esetan Afteranen 017 07.01041331 001 VS12 I S b.) V.2 t IJ C EFTA01260658 =ORO 11000304 ITS WHOLLY Owe SUSS10011Y Seve. Saws SecuteS c Ono MobtOKS OrSsi 11201 thebvt Nat Yank 112014,50 01212724CW FINANCIAL TRUST COMPANY INC 2 v • z ii STATEMENT BACKER IS PRINTED ON THIS PAGE C in z -H r 6ZLTS£00- 019- ANGS 027 07401.04;13'.31 031 VB32 rn 8 IJ IJ p IJ EFTA01260659 CLAMED nevus.. IS Venous °AWED StaSOWIY OFFICE SERVO% YOUR ACCOUNT Seas Storrs Stara. Cap. Bear. Steams 8, Co Inc. BEAR 383 Ma(Mon Avenue New Yak. New York 10179 Cr. menuan Caw/ Math F9909” .19. Yet 11201.3959 STEARNS 1212) 272-2000 (212)2124200 FINANCIAL TRUST COMPANY INC 3 Cl. STATemetit Pram May 29, 2004 hiSKAIGM MS 30.7604 ACCOUNT AMMER Cash Flow Analysis Income Summary 723PAYER WIMP On tie THISPOOCO INS 299930 TEAR TO OUT LAST STAITESO /An 28.2004 OpeningBalance 5.31.716.147.95 oMdends 245.063.20 627.404.40 Substitute Payment 0.00 85,222.00 Swathes Sala 2.746.122.34 Credit Balance Ira. 0.00 398.34 DiedendsAnteeest 245,063.20 Total 5245.063.20 5713,024.74 0 Amount Crocked Ceridendsanterest Merged 52,991,185.54 47,913.52 Margin Lit. Pad -47.913.52 ,224,058.26 m Amara Debited 5.47.913.52 Portfolio Composition Net Cash Activity 2,943,272.02 SHI).1 WAG m ClosIn98Manca 5-28.772.875.93 Sow en onion al soh wawa fatal. % C anI Intaded MOO soaps sue PsnOws. 90 as deli kr Saha seasscibis Ob MIK UMW-85h Equivalent Eqtities 28.772.876 77.886.364 — In Tomato Nat Total 528 772 876 577.886,364 Your Portfolio Allocation Cash Balance Summary r COMM Cash 0.00 1.658.956.03 ShOO Cash A Ecuvaient Ma* .31,716,147.95 -30.431.831.96 26% Net Cash Balance 3-31.716.147.95 5-28.772.875.93 OELTSEOCIA19- ANGS Egutiel 74% u•.wm CIIMN met War. Wok,' Non .weal vit... its that.. Prtertaa• *MO: fro, *. Mneaair •unx villre a Ws' WV. 02) 023104.13 31 COI VSO rn 8 b.) Is) t IJ IJ EFTA01260660 MORD TaR012311 ITS WHOLLY OP141) SueSCRAY OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. Bap Cam Secusatt Cap. BEAR 383 Mortised', Ammo Now York. Now York 10179 On Maraca, corm Nati &SOyv% Pate 'Art 11201.3159 (212) 272.1020 STEARNS (212)272.2000 FINANCIAL TRUST COMPANY INC 4 ✓a STATEMENT PECOO Nay 29. 2004 1141tOmpi Ars 30. 2004 Your Portfolio Holdings AD,OLNT RUPORR CASH & CASH EQUIVALENTS TROArDi RU445ell On rile IKE ranger! May 28.2004 MU ESTIVAMD CURRENT DESEMPTOP SAMOLCuSIP MAMMY 91C( YALU( MS ARMS NC./ O MD 012 CASH BALANCE -28.772.876 TOTAL CASH & CASH EQUIVALENTS 5.28.772.876 0 EQUITIES -n Equities & Options DESORPTIEN SYROCUMAP ACCT ;PPE EMMIREV PRCE tatai WILE 13411EATED AMMAtl SCOW CACROn YEW 014 C BANK OF AMERICA CORP BAC MRGN 100,000 84.6200 8.462.000 380.000 4.2543 in WALT DISNEY CO HOLDING CO CIS CASH MRGN 250000 25.4900 6.372.500 52.500 0.8239 WALT DISNEY CO HOLDING CO EMS 1.000,000 25.4900 25.490.000 210,000 0.8239 FLEXTRONCS INTERNATIONAL FLEX CASK 100.000 15.9500 1.595,000 LTD IFIL(IST FIN ITAL) IFPSF CASH 100,000 3.6350 363,500 9.146 2.5161 (urn ANST CL r MBNA CORP KRB MRGN 1.000.000 25.7900 25.790.000 480.000 1.8612 TYCO INTERNATIONAL LTD lit MRGN 100,000 33.1400 3.314.000 5.000 0.1509 VECTOR GROUP LTD VGA MRGN 412.658 15.7500 6.499.364 660.253 10.1587 Total Equities& Options 577.886,364 51.776.899 TELTS£00- 019- ANGS TOTAL EQUITIES 577.886.364 51.776.899 021 0701,04.13 31 COI 1932 IJ IJ t IJ La EFTA01260661 GLUM 110,0004 Innis Ov SU•SIOAAV OFFICE SERVICING YOUR ACCOUNT Beat. Steams & Co. Inc. On Sarni Inns On BEAR 383 Madison Avenue New York New 100C 10179 Os Mann C**t nit Orcattn. OY.n Volt 112014030 STEARNS (212)272.2000 21212720D:0 FINANCIAL TRUST COMPANY INC 5 ne swerettem PEMCO May 29. 2004 TwinUOM Ane 30.2001 ACCOLN3 Hunan TA20AnIt NASSER OnIle LAST STATTAOST May 28.2004 Your Portfolio Holdings (continued) YOUR PORTFOLIONOLDINGSESTIMATED ANNUAL INCOME $1.776.899 YOUR PRICEDPORTFOLIOHOLOINGS 149.113.488 0 m Transaction Detail INVESTMENT ACTNITY C in snow DATE TRADE OATt TRAMSACTION C4130111111011 SOMOL/CUSe OUNOITT TQE MIT MOOS Cart AlnINT 08/15/04 RECENED TOO INC TOO 34.400 0901 06/17034 06/14/04 SOW GALYANS TRACING INC GLYN -50.000 10.79590 $36.777.36 SOUCITED LAel VG PRICE: DETAILS ON REQUEST r 06/17/04 06/14/04 SOLD TOO INC LINSC4JCEIED TOO -34.400 16.06020 550.386.95 06/29/04 06/24+04 SOLO GALYANS TRADING INC GLYN .100,000 16.65000 1.658.956.03 WE ARE ACTING AS PROCPAL MARKET MAICER COPAMISSOF FIELD IS A LSSION EQUIVALENT DETAILSON ILS REQUEST $2.746.122.34 ZELTS£00- 019- ANGS 02/ 070101:1331 001 232 EFTA01260662 C1DRED TTIROUIPT NICELY OWN= nlISONJtv OFFICE SERVICING YOUR ACCOUNT Bar. Sam Mama Cap. Bear. &terns & CO.X. BEAR 383 Madisco ATOMS! New York, New York 10179 One Wraith On NCR, WICIONI NOT VolC 11201.3859 STEARNS (212) 272-2000 R12) 372-1COD F1NANCIAL TRUST COMPANY INC 6 e STATELIER, PERIM May 29. 2004 ENAMOR Ant 30.2004 Transaction Detail (continued) Aro& ea suietil TAT/PAYIII M)CCR CM FN DIVIDENDS LAST INATENO/1 Mey 28. 2COI DATE DIISCRIPTION rnaKtia6P COWRY POE IS) DONT AMOUR UM ANOINT 06/25/04 BANK OF AMERCA CORP BAC 100.000 0.8000 80,000.00 REC 06.04/04 PAY 06/25/04 0640/04 VECTOR GROUP LTD VGR 412,658 0.4000 165.063.20 0 TOTAL REC 06122/04 PAY 06/3004 5245.063.20 -n INTEREST DATE DESCRIPTION SY4lM.0VSP CRIUMIY am (V ouw AVOW CREDIT MOAT C in 06.21/04 INT DB 038-66056 05/21 - 06/20 641.76215% BAL 30626981 AVG31575868 47.913.52 TOTAL 5.47.913.52 MISCELLANEOUS DATE r 110011 06/17/04 NOTSACION JOURNAL DESCRIPTION JOURNAL FROM TYPE 1T0 2 OM mina 1,087,166.31 CREPT MOUNT 06'1 .04 JOURNAL JOURNAL FROM TYPE 1 10 2 1.087.166.31 5.1.087.166.31 51.087.166.31 EELTS£00- 019- ANGS 027 07/01.04:1391 ow VOS2 EFTA01260663 caA 114101.014 r$ l'oPOOLS boVIIED 811888)MY OFFICE SERVICING YOUR ACCOUNT ker. SW.. SCCuttS CUP. Bear. Swarm & Co. Inc. Om samara Crier PIP1). BEAR 383 Madison Avenue NOM York, NeW Yea 10179 Ibtalfr. Plited Vcrt 11201.3859 1212)212.1000 STEARNS (212) 272-200G FINANCIAL TRUST COMPANY INC 7 o•t SrATIWNT PfS)00 May 29.2004 DelltaX04 June 30.2004 ACCCCAT WARR TAXPAYER POWER On file Your messages LA ST STATEIJEta May 2S. 2803 Notice Regarding a Change in The Statement of Interest Charges Any short positions in your account will be kept *marked-to-the marker. This alb Pursuant to the - Truth•in•tending' Rule 10 (b)-16 Regarding Short Sales means that periodically the balance maintained in the short account will be And Marking-To-The-Market adjusted to equal the market value of the short securities. Securities that are priced Deism five dollars per share may to valued at rive dollars per share for Effecthe no earlier than [Sly (30) days from your receipt of this statement we short marking-to-the market purposes. If a security has been sold short (or will compute interest regarding your short sales and marking-to-the market as sold short against the box) and has appreciated in market price over the follows: selling price. interest will be charged on the amount of appreciation: if it depreciates in market price. interest will be correspondingly reduced by the m The credit that appears on your statement due to short sales (including short sales agaknt the box) is offset by a debit of like amount because Bear Steams drop in value. The appreciate or depreciation of %softies sold short vein be determined by Bear Steams Securities based upon daily closing prices or Securities has to borrow the same security in order to deliver It to the buying quotations provided by pricing serviCeS, as applicable. or upon such factors as C broker and has to provide its lender additional collateral of up to 105% of the Bear Steams Securities in its sole judgement deems pertinent. in settled short market value of the borrowed securities to secure such loan. This means that the debit balance on which interest is computed will be the difference between (i) up to 105% of the settled short market value of such Please note that the other sections of the Truth-in-Lending' disclosure previously provided to you remain unchanged. short sales (across all currencies), which shall be calculated daily. and (ii) the proceeds of such short sales. r PELTSEOCIA19- ANGS 027 0101.04.13 31 0)1 11132 m I S IJ IJ p rJ EFTA01260664 0-EARED ThiltOJGH rtS wart oriel® SubfoCults, OFFICE SERVICING YOUR ACCOUNT Ow Steams Snob,. Co.p. Beer. Stearns 8, Co. Inc. BEAR 183 Madsen Avenue New York. New York 10179 0*.e litottsch Cora Pawn ewer. Nes Von 113:01.1469 STEARNS 1212) 272-2000 CM) 272.1003 FINANON. TRUST COMPANY INC 8 cc u owner' PiMOO May 29. 2004 '14401.4H June 30.2004 CCOUNI 71.0401 T.VOUVER notefli On fle LAST sumer? Mey 28.2004 Pursuant to the terms of the equity research settlement that was entered into raw Please be advised of the following changes regarding account service fees: by Bear Steams and other major investment banks, we will soon make available to our customers, independent third-party research (Independent Beginning September 1, 2004, accounts will be subject to a 520.00 Researchi. at no cost. on the common stock of certain companies covered by processing fee for each outgoing wire transfer and for each check issued by the Firm's Equity Research Department ('Covered Company". Customers will Bear Stearns at the request of a customer. You may wish to speak to your 0 be able to access this research at vmw.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. Account Executive to inquire about the availability of check writing privileges for your brokerage account. Further, Beat Stearns will notify certain of our customers, at the time of each -n soicited order to buy a sell the common stock of a Covered Company, of the availability of Independent Research. and will provide. on the oonfrmations and statements that are generated for these customers. the rating(s) on such Beginning January 1, 2005, accounts will be subject to an annual account charge of 575.00 appicable for households that maintain less than 5100.000 in net equity in related accounts a that generated less than 5500 in C Covered Company(s) by the Firm's Equity Research Department, as well as the corresponding rating(s) by the applicable Independent Research provider(s), brokerage commissions and/or fees paid to Bear Stearns in those accounts in the prior calendar year. in where available. These notice provisions become effective in the near future and, to the extent applicable. will be included in your next monthly statement. Please note, Bear Steams is not responsible or liable for (i) decisions relating to the procurement of Independent Research. (ii) Independent Research or its content. riff customer transactions, to the extent based on Independent Research, a (iv) claims arising from or in connection with access provided by the Firm and/ct the inclusion of Independent Research raags in trade confirmations. periodic account statements a vrenv.tearsteams.com. Bear r Steams is not required to supervise the production of Independent Research and has no responsibility to comment on the content of such Research, End of Statement SELTSECICIA19- ANGS 027 070104.13 31 001 VS32 EFTA01260665 CLEARIO 720024.C.4 MICLLY OATIO WeSSMRY OUCE SERVICRG YOUR ACCOUNT Sr.San Seculms Cap. Beer. Steams & Co. Inc. BEAR SEM madoon Avenue New Yotk, New York 10179 One Atiotten, Carter MOM ertwayn New Vat 11211.3449 STEARNS (212) 272-2000 (212)2724WD FINANCUR TRUST COMPANY INC M:COUPit DIECIMYt 11(1111PIVANJRA sumer, nano Way T. 2004 111.EPHONF Tan0u0.4 May 28.2004 VISIT EMIR WI 85.11 WAY/ bearsteams.com a µMISR What's In This Statement IIIIIIII,JIJIII TAXPAY101 7010e3 On rk LAST STAISSIVET Apra 30.2004 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C/0 AMERICAN YACHT HARBOR • Transaction Detail 6100 RED HOOK SUITE B-3 QUARTERS 402 ST THOMAS Y1 00802 m C Your Portfolio at a Glance Market Value of Your Portfolio m TOTAL VALUE OF SECUMMES THIS PERCO 76.308,062 Cash EQL.h.lint $.91.716.148 S.31.670.992 NET DENT BAUNCE -31.718148 576.308.062 rqutts S14.175.563 NET eoutrr Teal PE/t100 $44,591.914 III Current mete value NET EOunY LAST STATEMENT 42.504,571 In Last statemmr meat Labe r OWL& MCC LAST STAIDAENT 2.087.343 CI Shen, MOAK Mile There are no 'Stop Lou' MOMS Ca other pending buy M sell open orders on file for your account. 9ELTS£00- 019- ANGS Pen. iegon ory Menne* ea el <Mai et stem Mead se atinred b awn SmAcealtICC434-14211s a rate b art Seetos el Yr Score Lanes Coo. Ora wwwww Cal SAN 9bayn. NY. 112014t.t. sitc nes cannery N Rt racertmeolimamrecs. W. IS ma sena n a wawa-am reit star/Olt stead 04 rained he yeaSee mem sae or Woolen 010tenalion 027 0502004.12 32 CO, I8 IJ IJ p In) 00 EFTA01260666 mot. =ARCO 2WOG14 IT8 Cons.1) SUBSOWYY Beet Selma SearUS Cap. One 18eUcite. Cerny Vali linetlyn aw van 112014859 Q121222-f000 FINANCIAL TRUST COMPANY INC 2 O z m STATEMENT BACKER IS PRINTED ON THIS PAGE ci m z H r LELTS£00- 019- ANGS 0:: 3N.:504 12 3) DOI 9831 I S IJ INJ IJ EFTA01260667 CREARED TWORCA: wAOLAR OATZO ituns-tot OFFICE SERVICM YOUR ACCOUNT Bear. Steams & Co. Inc. Bet Sewn Satins Cup. BEAR 383 Mechem Avenue on Menotti, Germ Math trito4/‘ RIR, An 11201.3858 STEARNS New York. New York 10179 (212) 272.2000 (212) 212-1070 FINANCIAL TRUST COMPANY INC 3 STAMM., PEA100 /Aryl. 2C04 TtROJOH May it 2004 ACCOulta Matt Cash Flow Analysis Income Summary TAXPAWA MAOTA On U. %RS PERIOD RPICO WAR TO out LAST BTATnietrr WI 30. 2004 OpeningBalance 5-31.670.992.28 Cwidends 1.250,00 382.341.20 Substitute Pmment 0.00 85.222.00 Dtvidendsenterest 1,250.00 Credit Balance Ire. 0.00 398.34 Amount Credited 51.250.00 Total 51,250.00 5467.961.64 Dividendillmerest Charged .46,405.67 Margin Int. Paid -46.405.67 -176,144.74 Amount Debited 5-46.405.67 -n Net CRIS% Activity .45.155.67 Portfolio Composition C [IasinoBalance 541,716,147.95 SHOW tare rn CastiCasti Egurratent Fouitres 31.716.148 76,308.062 Cash Balance Summary Total $31,716.148 576 306.062 Your Portfolio mourn Allocation Margin .31.670.992.28 41.716.147.95 r Net CashBellute 5-31.670.992.28 5-31.716,147.95 Short Cash a Equirident 29% SELTS£00- 019- ANGS 71% :PA-4144 DbUrs feng• cAtt Warm nib 'Owl mote The Meese, p•neetarp• e pets] ft" re Reads meet nia of nu' tett. C27 06.2404 '2 32 00' VS31 EFTA01260668 GEARED THROUGH ne IMCLor OwnO Su•Somi OFFICE SERVICING YOUR ACCOUNT Ow Man. Smallos CM. Bear. Steams & Co. Inc. BEAR 383 Madison Avenue New Yoe, New York 10179 Or. - Coos Plonk inoktpl Mow on 112014449 31$ 2221000 STEARNS (212) 272-2000 FINANCIAL TRUST COMPANY INC 4 as MATMFA.7 .ERGO NM 1.2004 IntOuLLry Miry 28. 2004 Your Portfolio Holdings ACCOUVT MAIER CASH & CASH EQUIVALENTS °MAYER moroM On FIN LAST STATEvErT AM 30. 2004 IMPS (SIIVAIID CURRENT DISCRIPTION SW%).11.4n ;.,MCITY MKt VALUE µMM DOME 'MD ni CASH BALANCE .31.716.148 TOTAL CASH & CASH EQUIVALENTS 5-31.716.146 C) 0 EQUMES -n Equities & Options DESCISPIIM SMOWCUSP ACCT Mt ovum Pract MARKET WISE ES-TIMM ALMS MOM OMNI IIELOM C BANK OF AMERICA CORP BAC 1ARGN 100,000 83.1300 8.313.000 320.000 3.8494 rn WALT DISNEY CO HOLDING CO WALT DISNEY CO HOLDING CO CILS 015 CASH MRGN 250.000 1.000.030 23.4700 23.4700 5.887.500 23.470,000 52.500 210.000 0.8948 0.8948 FLEXTRONICS INTERNATIONAL RE( CASH 100,000 17.5600 1,756,000 LTD GALYANS TRADING INC GLYN CASH 150,000 10.0500 1,507,500 r IFILOST FIN ITAL) Turn MST CL IFPSF CASH 100,000 3.5380 353.800 9.161 2.5893 MBNA CORP KRB MRGN 1,000,000 25.4000 25,400,000 480.000 1.8896 TYCO WITERNATKINAL LID TYC LIRGN 100,000 30.7900 3.079.000 5.000 0.1624 VECTOR GROUP LTD VGR MRGN 412.658 15.9000 6.561.262 660.253 10.0629 6ELTS£00- 019- ANGS Total Equities& Optkins 576.308.062 51,736,914 TOTAL EQUITIES 576,308.062 51.736.914 327 cenio4n 32 COI n31 EFTA01260669 CLUJ= DOLOUR.. 7$ Wreux CROSS RJasoirsr. OFFICE SERVICING YOUR ACCOuNT r.. Si— labs Carp Beet. Stearns 8 Co. Inc. BEAR 383 Mad1991 Avenue New Yolk New Yak 10179 One 11000Lich Callet PRO tteatcp MlP Vtek 117014559 STERNS (212) 272-2000 12121 272-1000 FINANCIAL TRUST COMPANY INC 5 4$ STATEN'S PERIOD May 1. 2004 *moose may 28.2004 ACCOUNT MAWR TAXPAYER 1474411 En fir LAST STATOR' 1/4 1i 30. 2004 Your Portfolio Holdings (continued) YOUR PORTFOLIO HOLDINGSESTIMATED ANNUAL INCOME 51.736.914 YOuRPRICEDPORTFOLIONOLDINGS 544.591.914 O ii Transaction Detail DIVIDENDS C rn RATE mane/ SY15110LCLS5 WARM RATE 91 DEW AIAXPC CRECII wen 05/03/04 TYCO PITERNATIONAL LTD TYC 100.000 0.0125 usaoo REC 04/01/04 PAY 05403/04 TOTAL 11250.00 INTEREST r out oLSCRIPTC41 ..smo0-CUSIP n.A\nn 1115 0[90 AVOW CROIX IMOUV 0921/04 NT D8038-66058 46,405.67 04421 - 05t20 •01.75833% BAL 31669742 AVG31670242 TOTAL 5.46.405.67 OPLTSEOCIN9- ANGS 059564 1537 0O1 NrilSt EFTA01260670 CLEARED INROUGn RS YP1COX OMCD SUILSOLARY OFFICE SERVICING YOUR ACCOUNT Ber,Rsent Storms Cap. Gear. Steams & Co. Pc. BEAR 383 Madison Avenue New York. New York 10179 Cos TATetterli Cellty WET EITIONER WM vat 11201.3859 (21212224000 STEARNS (212) 272-2000 FINANCIAL TRUST COMPANY INC STATIMIRTIT PCNCO AVE 1, 2004 ACCOUNT EXECLMYE ZICHEIMMALIRA TELEPHONE • Oft01/411 RPM 30. 2004 VISIT OUR MERSIN walearsteams.com ACCOUNT TaJoSER What's In This Statement TAXPAYER Maid On Fle Leff SteTEKar Irtych 31. 2004 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C/0 AMERICAN YACHT HARBOR • Transaction Detail 5 6100 RED HOOK SUITE 8-3 TOiNaGUNO0 QUARTERS #2 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio Casli Eq In S-31.670,092 TOTAL VALUE OF SECURITIES THIS PERIOD 74.175.563 S-31 742 917 NET DEEM &MANCE -31.670.992 Eames 574.175.563 579.766.029 NET EQUITY TIE PERIOD $42,504,571 in Current intekti yam NET EQUITY LAST STATEMENT 48,023.112 no Last statomerRs mal.ct valve CI Shan market viola CHANGE SINCE UST STATEMENT -5.518,541 There are no 'Stop Loss orders or other pending buy or sell open orders on file for your account. TVCESEOCM-ANCIS Peru nox ant Towne cc Atunottx ENE.* Tr Wets r4cTesc ea es NNE To ENT ns wary a AY ITSTATAICAS Etropset Cl. tat onto as a tat neurwr4 TT Cant Woos 112,104.14124. a Tots TT OEM SANTAT 411 PAN SI*8•1.6 SKYWAYS. Toe newt sno.10 at MANI IX yap metes See non sae er sTITOrtart TOUTNCre. CO., Pa VAntiftet Cr,., hoot erasur. 1, .'0+.358 027 0901,114:13:17 001 V830 8 IJ IJ p EFTA01260671 AWED OYJ1I1 Wmare OWNED Suntan Bea. Stars Sean.% Cop, One Mipascl. Cans ilorth limo" Mao Yen 112013n9 1212) 222.1003 RNANCIAL TRUST COMPANY INC 2 a6 O 0 z m STATEMENT BACKER IS PRINTED ON THIS PAGE C in z -H r ZPLT SEOCIN9-ANGS 027 05.01/04;13:17 001 Y830 EFTA01260672 o 440%0 DINOLLOI OS wall OWNED 9.4140014( orricE SERviCo4 YOUR ACCOUNT Bar. Sten Sougan Cap. Bear. Stearns & Co. Inc. BEAR 383 Madison AVOW) New Ycek. New York 10179 On Mereleth tour No% btOONL New GO 11201-3659 12121272-1CW STEARNS (212) 272.2030 FINANCIAL. TRUST COMPANY INC 3 to SNATIDIENT PESIOO Apt 1. 2004 TLOOVOI APIS 30.2004 ACCOUNT NJIANIR Cash Flow Analysis Income Summary %wort,. model On 414 nes INRI0O nes .tern %AR TO PM LAST $14TEMENI lAfith 31. 2004 541,742,917.44 Dividends 120.000.00 361.091.20 OpeningBa lance Sul:salute Payment 0.00 85.222.00 Dividerds/Interest 120,000.00 Credk Balance Int. 0.00 398.34 Amount Credited $120,000.00 Total 5120.000.00 3466.711.54 DMdendsanterest Charged .48.074.84 Margin ktt. Pak -48.074.84 -129.739.07 Amount Debited $.48.074.84 -n Net Cash Activity 71,925.16 Portfolio Composition $41.670.992.28 C ClosingBalance SNORT LOC in CasIVCash Equivalert 31.670.992 74.175.563 z Equities Cash Balance Summary Total 531.670.992 574.175,563 Your Portfolio OPENING CLOSING Allocation Margin -31.742.917.44 .31.670.992.28 r Not Cash Balance 5.31.742.917.44 5-31.670092.28 ShCil Cash & Equvalen: 29% EPLTS£00- 019- ANGS q4441 71% U— mean door ado !Aro erdot ow: row Pao 04 Ocala, poon••• • *net coo to awe.., ono nine)°, Vertielf 027 05101)04:13:17 001 V830 8 IJ IJ p EFTA01260673 MIMEO TMOtram valOu. Om= SuallWAV OFFICE SERVCING YOUR ACCOLIVI Bear. Steams & Co. Inc. Bet Sian Ladles Carp BEAR 383 Madison Avenue New Yo& New York 10179 Ore Itafroleal Owls Horn tad*. Ma Vat 112014969 STEARNS (212) 272.2000 1212) 772.1000 FINANCIAL TRUST COMPANY INC a et a STATME)If Poem Apl 1, 2004 THROU0/4 AA 30.2004 Your Portfolio Holdings NYCO. WISER CASH & CASH EQUIVALENTS ThstrAvia Nuaillta On Fla LAST rATnec Mitch 31.2004 DESCRIPTON SIWOLCUSla Waal ESTIMULD CIAMD1T own" matt Mat AMU* WW1 IUD 2)l CASH BALANCE -31.670,992 TOTAL CASH & CASH EQUIVALENTS 5.31,670.992 0 EQUMES -n Equities & Options DC1011.1101/ SYMICILCUSIP ACC1 Mt 011011TflY SAINT atWTID CURREN) PACE MA NOWA Waal SO Oil C BANK OF AMERICA CORP BAC MRGN in 100.000 80.4900 8,049.000 320,000 3.9756 WALT DISNEY CO HOLDING CO DIS CASH 250.000 23.0300 5.757,500 52.500 0.9119 WALT DISNEY CO ROWING CO 015 MRGN 1.0:00:0 23.0300 23.030,000 210,000 0.9119 FLEXTRONICS INTERNATIONAL RD( CASH 100,000 16.1000 1.610.000 OD GALYANS TRADING INC GLYN CASH 150.000 9.4900 1.423,500 r IFIL8ST FIN ITAL) EUR1 NM CL IFPSF CASH 100,000 3.6520 355.200 8.869 2.4989 MINA CORP KR8 MRGN 1,000,000 24.3800 24.380,000 480400 1.9688 TYCO INTERNATKINAL LTD IYC MRGN 100,000 27.4500 2.745,000 5.000 0.1821 VECTOR GROUP LTD YGR MRGN 412.658 18.5400 6.825.363 660.253 9.6735 trI7LTS£00- O19- ANGS Total Equities& Options $74,175,563 $1,736,622 TOTAL EQUITIES 574,175,563 51.736.622 027 05/01/04:13:17 001 Y830 IJ IJ p EFTA01260674 CLEWS 71•0047:14 rts WoLCtiN OMiD SLASIOvar OFFICE SERVICING YOUR ACCOUla Ms. Sturm Seortin Cap. Seer. Stearns & Co. Inc. Ow MtUaLL01 GM Nolli BEAR 383 Madison Avenue Now Yoh, New Yak 10179 SLOAN. Nee Tot 112014359 (2121 272.100) STEARNS (212) 272.2000 FINANCIAL TRUST COMPANY INC S ors STATIENEW7 PEPTOO Amil 1.2034 714/aMm AO 30.2004 ACCONNT MANNA TATSAYSit WIRIER 00 MN LAST STAMNINT 'eth 31. 2034 Your Portfolio Holdings (continued) YOUR PORTFOLIO HOLD I NGSESTIMATED ANNUAL INCOME 51.736.622 YOUR PRICEDPORTFOLIOHOLDINGS $42.504.571 0 z ii Transaction Detail INVESTMENT ACTIVITY C in SETROMIN TWA z 011E 04/20.04 DATE TRINSAC713/I 13URNAL OPSONINCAL WALT DISNEY CO HOLDING CO ML FM 353-01502 PER WA STIMOUOJSIP OIS weeny 157,000 PRIM Mr AMCOR OIMIT AMCOR 04/21)04 DEUVERED SEAMGEN HOLDING CP RSID 9380646 -333.334 TOTAL r DIVIDENDS OPM CASCRPTKII1 $TIMCMCUSIP GUMMY PATE NI OW MOM CREW AMOUNT 04101/04 WAWA CORP KR8 1,000,000 0.1200 120,000.00 REC 03/1$/04 PAY oyou04 SPLTS£00-019-ANGS TOTAL 5120 000 00 027 0901/04:13:17 001 V830 EFTA01260675 CLIAM0) TI UCeIR *KOS OvadED SUBSOPAY OFFICE SERVICING YOUR ACCOUNT Ow. Sun Startle ON. Sete. Steams 6 Co. Inc. BUR 383 Madison Avenue New Yak. New York 10179 Ore Meotach Celst 1404. mew" New Tat I I201.3460 ST&RNS (212) 272.2000 0131272.1000 FINANCIAL. TRUST COMPANY INC STAltielr nmoo Apt 1. 2004 IIINOUG41 Aga 30.2E04 Transaction Detail (continued) ACCOUNT teal= TAXPAYER *MICR 00 Fk INTEREST LAST nommen Minh 31. 2004 OAT( OISCRPTION 004130VOTSP CUANSP, RATE Oil 04441440,0 CP[Pri Nueva 04121/04 INT 08038-66056 48.074.84 03/21 . 04/20 001.76037% EIAL 31622917 AvG31719565 n*A 0 5.48.074.84 z m ci m STOP z r 917LTSEOCIND- ANGS 0501.04.13.17 v830 EFTA01260676 CLEAREO THROJOH ITS WOOLLY Ov*C SUSSOARY ONCE SERVICING YOUR ACCOUNT Beer. Steams & Co. Inc. Sun Sawa Swan Can BEAR 393 Mat son Avenue CALL Vsnach Cast hall Prow" NCI Tat 112014859 STEARNS Now York. Now York 10179 121 2) 272.2000 L2111 272.1000 FINANCIAL TRUST COMPANY INC ACCOUNT Et TCUIril ZICHTRVANTRA ITATEARAT mPICO Fetruety 28.2004 TT TEPHONT • LWOW.. Mach 31.2004 viSIT OUR NERVE w*w.bearsteams.com ACCOUNT LAMM What's In This Statement IIIr111rrrlrelRlI III TAXPAYER Nana On Ego LAST 'mincer Fetnagy 21.2004 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C/0 AMERICAN YACHT HARBOR • Transaction Detail 5 6100 RED HOOK SUITE B.3 Yotr Messages 7 QUARTERS #2 ST THOMAS VI 00802 0 a l C Your Portfolio at a Glance Market Value of Your Portfolio in TOTAL VALUE OF SECURTTIES THIS PERCO 79.766.029 Can & &Orme* $41.742,917 141.N5.411 NET DONT BALAACE 41,742,917 579.763,029 391.207.908 NET ECNATY THIS PEN00 548.023.112 Onerd mwtet vivo NET MUFF( LAST STATEMENT 49.442.495 ME Last staternercs market value r CHARGE SINCE LAST STATEMENT -1.419,384 l= Satan MAN Vane There are no 'Stop Loss orders or other pending big or sell open orders on Me for your account. LPLT SEOCIN9-ANGS Rome van ay annexe a naxecrig a ctencs nada oaa1e4 a *flea° a au Ay TEM SLMnantli KK incorstbral mum tay. Shan MANI Li eY On a Chen Samoa at ea434A421. aa• It Can aessa Sat aura Saunas •et Sr eine be reared tbr rag nxo-Of mese we for ?VOW* iterrizn Cora Oa leavaa Caw Non. boar n aka 027 OALDIP4.12 SS COI VS29 EFTA01260677 CLEARED TOR003o ITS VOIOU.Y COOED taJELSOORY kV Si..,. Snobs. Cap Op liolowch Coma 19515 898188. New Yon 11201,1859 12121 272.1000 FINANOAL TRUST COMPANY INC 2 (-) 0 z m STATEMENT BACKER IS PRINTED ON THIS PAGE ci m z H r 817LTSEOCIND- ANGS 027 0.01.04:121$ 991 9I23 IJ EFTA01260678 CUOMO 1101OUGn .13 %,asv Dian &MOWN OFFICE SERVICING YOUR ACCOUNT Baca. Stearn WOW Corp. Bear. Steams 6 Co. Inc. one mason:. Conn North BEAR 383 Madison Avenue Now York. New York 10179 temp Vivo in 2 31159 (212) 2724CCO STMRNS (212) 272-2030 FINANCIAL TRUST COMPANY INC Sat STATDAINT PU000 rarutry 29.2004 neetuam March 31.2004 ACCOP.Olt MAW Cash Flow Analysis Cash Balance Summary TAgeAvER MAMCO On Foe DOS PERIOD 00004 CLOSNG UST STATIAILNT February 27, 203a OpeningBalance 5.31.865.410.90 Cash 261,556.06 0.00 2.809.355.19 Margin -32.126.966.96 .31.702.917.44 Funds Deposited Cthidends/Interem 159.841.20 5.31,865,410.90 S.31.742.917.44 Net Cash Balance Miscellaneous 85.222.00 Amount Credited 53.054.418.39 -n Funds Withdronn DMderds/Interest Charged -2.887.500.00 -44,424.93 Income Summary uss DMdends 159,841.20 YEN 70 OW 261.091.20 C Amount Debited 5-2.931.924.93 Substitute Payment 85.222.00 85,222.00 in Net Cash Activity 122.49146 Credit Balance Mt. Total 0.00 5245.063.20 398.34 S.346 711 54 Closinv Balance S-31.742.917.44 118010 ashy IrOodloo Sash Mae awl loom se rat inebilo1 Yea Margin Int. Paid -44,424.93 -81.664.23 Your Portfolio mem ewe iniviia. .w at ash Ir NW MPS ft roar. Allocation WWI MTraYla 000. r Portfolio Composition ACM "MG shat Cath & EqtrVabOnt CashICash Equivalent 31.742.917 28% Nokias 79366029 617LISE00- 019- ANGS Total $31.742.917 579.766.029 EpuitieS 72% Joi&god >t -Ant OWL eta min raw •Y/. vileas The elemeen re :Wel Von» grave mend ,S..evtwnte a yet Ceelthe 027 0•0144.12S6 031 1129 rn 8 b.) IJ p EFTA01260679 GLENN 11.00.414 rn www0.4 044.0 SUBSiDeRY OFFCE SERVICZ.GMUR ACCOUNT Bear. Stearns & Co. Inc. Be. Sian Semites Cap. BEAR 383 Mattson Mena New York. New York 10179 Cat Neaten Cower Nae encer. New MN 11201.3959 STEARNS (212) 272-2000 12121272.1020 FINANCIAL TRUST COMPANY INC 4 ce STA17244474r NNW Fetnely 28.2004 INtOuNt Myth 31, 2004 Your Portfolio Holdings 4Cca.N7 et.441811 CASH 14 CASH EQUIVALENTS AY? `EN NNW On Fat LAST STATflCMT February 27.2004 mAltr47 EST741.170 OMEN 043011, 11311 514001./CUSIP Gummy eAAY YUEf WAX. 'CON IMO 110 CASH BAUVICE .31.742.917 TOTAL CASH & CASH EQUIVALENTS 1-31,742.917 0 EQUMES ii Equities & Options marrow SMON/CUSIP ACC, WINN MANN 01140101Y MCC WWI AMYL Mai C BANK OF AMERICA CORP BAC MRGN 100,000 80.9800 8.098.003 320,000 3.9516 in WALT DISNEY CO HOLDING CO WALT DISNEYCO HOLDING CO DIS DC CASH MRGN 93.000 24.9900 2.324.070 19,530 0.8403 1.030.000 24.9900 24.990,000 210.000 0.8403 FLEXIRONICS INTERNATIONAL FIE( CASH 100,000 17.2200 1.722,000 1,10 GALYANS TRADING INC GLYN CASH 150.000 10.0600 1.509.003 r IFILBST FIN ITAU EURI MKT CL FPSF CASH 100,000 3.4610 346.100 9.352 2.7021 MBNA CORP BBB MRGN 1.000.000 27.6300 27.630.000 480.000 1.7372 TYCO INTERNATIONAL LTD TYC MRGN 100,000 28.6500 2.865.000 5,000 0.1745 VECTOR GROUP LTD VGR MRGN 412,658 17.0000 7.015,186 660,253 9.4118 OSLTS£00-019-ANGS SENTIGEN HOLDING CP MD 9380646 CASH 333,334 9.8003 3.266.673 Total Equities& Options 579.766.029 51.704.135 TOTAL EQUITIES 579.766 029 11.704.131 077 0401 04 12 56 col YBn EFTA01260680 OTARED 7fflOuGN iTS ~Our Ow4E0 SISS Y OFFICE SERVICING YOUR ACCOUNT Bev Sun Stoats Cy,. Beat. Steams d Co. Inc. BffiR 383 Madison Avenue New Yak. New York 10179 Ore ~Axe& CPR« /an trecop. Ner Uric 11201-24a cZ/21 212.1000 STEARNS (212)272.2000 FINANCIAL TRUST COMPANY INC Sur STATtidewr PEPOCO %briar/ 28.2004 ~Duo., Mirth 31. 2004 AnyWN7 st•MER TAxPAyER Knee: On nie LAST ETATSKM FottuarE 27.Ø Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTI/AATED ANNUAL INCOME $1,704.135 YOUR PRICEDPORTFOLIOHOLDINGS 548023.112 0 -n Transaction Detail DEPOSITS AND WITHDRAWALS rn DATE nuad*CnC4. ectcapnea mart maw CROXI AuOurn 03/02/04 FUNDS REC FNDS WIRED TO CITIBANK FROM 2.809.355.19 GC408Wi SACHS .CO LCT40821310800 03/08/04 FND WIRED MOANIAB731597FNCISWIRED TO 2.887.500.00 "MORGAN OUSE BANK A0040181513 70404928 r TOTAL $-2.887.500.00 $2.809.355.19 DIVIDENDS DATE DESCRIPTION SYLIMUCUSP CILI4411TY Mn (si DEBIT MOW CREW ALOUNT ISLTS£00- lA19- ÅNGS 03/28/04 BANK OF AMERICA CORP BAC 100.000 0.8000 80.000.00 REC 03405/04 PAY 03/28/04 040104:12M COI V8?9 EFTA01260681 CLEARCD TolOugi RE liatuv Ovnal, ARR~ OFFICE SERV1CING YOUR ACCOUNT Beu Seri Seans Con. Roar. Steams 6 Co. Inc. BMR 383 Madison Avenue New Vak. New York 10179 Orie Milnehffi teren Not 8rtolOr. Ine Tan 11201.3559 STUkRNS (212) 272-2000 R1212221000 RNANCIAL TRUST COMPANY INC 6 STATELIEirt MMO Febnary 28.2034 THROJCin Warch 31.2004 Transaction Detail (continued) ACC.OuNT ~Ot TAXPAVER µ21!Et O Fis DMDENDS (COn(illUed) LAST STATE...ENT Fetrun 27.2004 OATC DISCRY1ON SflISOUCUSIP OU9n774 Rel OT Eelt AsIOLIWI CREW MOUW 03/29/04 VECTOR GROUP LTD VGR 199.603 0.4000 79.841.20 REC 0331904 PAT 032904 TOTAL 5159.841.20 O SUBSTITUTEPAYMENTS arz DC5CRIP71Cn CALWITIT It&TI (fl CRf 511 AuCtlln 03/29/04 VECTOR GROUP LTO 213.055 0.4000 85.222.00 SUBST PAY ON 213065 5113 REC 03/19/04 PAY 03/29/04 m TOTAL 585.222.00 INTEREST Carl CESCalPilan Snati.,SLP awarry Mn exa Call ~nl Cent 40.111T 03/22/04 INT OB039-66056 44,424.93 r TOTAL 02/21 .03/20 4401.76096% 84! 31943555 AYC31316929 s 44.424.93 MISCELLANEOUS Wit ZSLTS£00- IND- ANGS DESCIWTON OM MOM CRUX! ~UNI 03/18/04 ØL JOURNAL FROM TYPE 1 TO 2 3.070.911.25 021 0110104:121S Cal VIM IT1 tJ tJ p A p EFTA01260682 CU/AEC 71711/2311 as WHOLLY 02.2120 Sta100/427 OFFICE SERVICING YOUR ACCOUNT Ocer Swn Scone. On. Bear. Stearns de Co. Inc. BEAR 363 Matteson Avenue New Vork. New York 10179 Ole Llorcenn Cann 727.2 trOCOpn. Pk. Yak 112014659 STEARNS (212) 272.2000 f2121 2721000 FINANCIAL TRUST COMPANY INC 7 rrAnueo PlOrco Fettuary 28. 2004 noweLore Yeah 31.2001 Transaction Detail (continued) ACCOLert 7/0/1AVIS MUMMA Prat MISCELLANEOUS (continued) LAST VATC1117.17 Fatter/ 27.2031 &OW TIMSACTICN OESCRP1P1i 31511 7.Va.p.1 GRECO MMIM 03/18104 JOURNAL JOURNAL FROM TYPE 110 2 3.070.911.25 TOTAL S-1070.911.25 53070.911.25 0 -n Your messages C Excess SIPC Account Protection Update gar Bear. Stearns Securities Corp. Net Capital and Net Capital Requirements: in Effective February 16. 2004, the commercial insure through which Bear. Stearns Securities Corp. obtains excess SIPC protection changed to Customer Asset Protection Company ('CAPC01. a New York licensed insurance At November 30. 2003 and January 31, 2004. the Company's net capital of approximately $3.3 billion and 53.2 billion was approximately 7% and 7% of company. CAPCO has an A+ financial strength rating from Standard and aggregate debit items and acceded the minimum regulatory net capital Pairs. requirement or approximately $930.3 million and $967,8 million by approximately S2.4 billion and S2.2 billion, all respectively. A complete copy of the Bear. Stearns Securities Cap. Statement of Financial r Condition is available on the web site oww.beatsteams.com. Alternatively, to request a free printed copy please call • toll free 1-866.299.9331. ESLTS£00- 019- ANGS 027 002704 12 sS nit EFTA01260683 CIAJJ110 IRROU01 ITS %MOLLY OWNGO SLIGOARY OFFICE SERVICING YOUR ACCOUNT Roar. Steams & Co. Inc. Rev. Seam Seers Cud Cr* Yearxre Care NOIR BEAR 383 Madison Avenue New Wyk. New York 10179 iroothn Me Ye 1,2014.1150 12121273.1CCO STEARNS (212) 272-2000 FINANCIAL TRUST COMPANY INC 8 or I Sweet eFeICO Fetea-y 28.2004 mete tee 31 2004 *Ante NUMBER TAXPAYER RIMER OR Fre Lei mere February 27.2004 The Firm believes it is of the utmost Importance that clients who purchase or LW' hold mutual funds fully understand the intricacies of the pricing structures and rules ',Mich govern these investments. Recently, a joint Industry/NASD Task 0 Force collaborated to create a Disclosure Statement to address these issues. We are providing this Disclosure Statement to you for the purpose of reinforcing these concepts and to initiate the opportunity for further discussion z of these Inv las to the extent you have questions. You are encouraged to m contact your financial professional with any questions you have regarding your investments. Additionally. you may review this information online at the following NASD web site: ci http://tvommasdr.contibreakpoirrs_statement.asp m z Endof Statement H r VSLTS£00- 019- ANGS 027 044)1A:4:12 53 00 Vt29 TJ U.) a ar• EFTA01260684 CIAMED DelOuCti ITS mew( CAI® 0.0.010.Re CAME SEAMCING YOUR ACCOUNT (tau San snow cop. Bear. Steams & Co. Inc. BEAR 383 Madison Avenue Now York. New York 10179 Cr*Learerch Greet Brottim. Nes Ted 11201-ass STEARNS (212) 272.2000 (27 21 272iICCO FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE IICHERMANTRA STAltiera Plirelan hewn 31.2004 TELEPHONE itercaUtel February 27. 2004 VISIT OUR wEBSLIE wmv.bearsteams.ccen ACCOrma mane What's In This Statement HMI% It lb TexPertit ribellart On Tel LAST STAITWErfr kiniray 30.2004 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Ponta* Holdings 4 470 AMERICAN YACHT HARBOR • Transaction Detail 5 6100 RED HOOK SUITE B-3 Your Messages 6 QUARTERS 02 ST THOMAS VI 00802 0 m C Your Portfolio at a Glance Market Value of Your Portfolio in TOTAL TAW( a SECURMES THIS PERIOD 81.307.906 Cash & Eatialart I smAss.411 S-7.479.71Ni NET mart BALANCE -31.865.411 181.307.906 E0.0:03 557.170.074 PET ECAAW THIS PERIOD $49,442,495 MO CUMMI market Yak* NET EOLTHY LAST STATEMENT 49.700.178 IIII Last sucensanTs motet vase r CHANGE StiCE UST STATEMENT .257.682 CI Snot Matte value There are no "Stop Loss orders a other pending buy a sell open ceders on file for yaw account. SSLTSEOCIND- ANGS Pier. wpm red drawee iv resniaigl el Men et *Me naiad a *Meter me o Cum Swede w KO434.14a. et %vie b Chet Soma* re all Den &cut Cum. Cm• remora Cara mem. &ewe, moue. gim ars tummy ft mTroarukaal pewee GM I flu retread n a at earriet Pis steentert %Peed t. maned kir you MOM% Ste merge We Se letedlitt ieformaben 027 0742104.11 OP W, VON EFTA01260685 CLFJUK.0 TrOOLCH IR raCu. Orat0 SuaStoage Ss. Sitars Soceale Cap Orr NOUN Aar Neelh Rat" NtiV Tot 11201.ISSS 1214212.1000 FINANCIAL TRUST COMPANY INC 0 z m STATEMENT BACKER IS PRINTED ON THIS PAGE ci m z H r 9SLTS£00- O19- ANGS 001 0201104:1 OM MPS rn I S b.) IJ p 00 EFTA01260686 caaaw THROUGH as velOLLY Wee) teSSOWRY OFOCE SFRviCiNG YOUR ACCOUNT Bear. Stearns 6 Co. Inc. iks. Stearn SUM. Cap. BEAR 383 Madison Avenue New York. New Yak 10179 Ore Meteteen Cate. Neal Ilecat8r( N.e Y*o 11201.3859 STEARNS (212) 272-2030 (21212/V1CM FINANCIAL TRUST COMPANY INC 3 ✓a 81939.9ENT PIRIOO sans, 31,2004 19189.0. Fe9.141ey 27.2004 'COMM Mama Cash Flow Analysis Income Summary Texererrie Kula On Me DIS POMO se PERIOD WAR TO Out LaST STAMM!, }wry 30.2000 OpertingBalance 5.7.479.796.44 Onidends 1,250.00 101.250.00 Credit Balance kn. 0.00 398.34 CiMdendsrelterest 1,250.00 Total 51.25080 5101.648.34 Miscellaneous 260.306.00 Margie Paid -32,865.46 -37.239.30 0 Amount Credited Securities Bcratt 5261.556.00 -24.614.305.00 z ii Ohidendsfrarest Charged Amount Debited -32.865.46 5-24.647,170.46 Portfolio Composition SW toed C Net Cash Activity -24.385.614.46 Cash/Cash Wyatt 31.865,411 in ClosingBalance 541.865.41990 -a 81.307,906 z Total 531.865.411 581,301 906 Your Portfolio Allocation Cash Balance Summary CP114.43 CLOSING r Cash 0.06 261,556.06 MetprR .7A79.796.50 -32.126866.96 Short Cash & Equellent 28% Net Cash Balance 5-7.479.796.44 5-31.865.410.90 LSLTS£00-019-ANGS E200es 72% U(5.9.33.1 .MOs MW epee ben irate nr1 rna•se era Tie AAX.C.). Jortiers0 nderlyer: ton 1.1. 0/94./s roan a. a 70l Witt* 027 02.21104:11:51 001 31128 IJ IJ p EFTA01260687 CUARSO ROIC4/3.4 nit vemcuY 0M, SIA44DIARy MICE SERYIMG YOUR ACCOUNT law. Went Smelt. Cep. Bear. Steams & Co. Inc. BEAR 383 Madison Avenue New York. New York 10179 Ow Meitotan Caw IOM Broad" New Wet 11201.3959 STEARNS 1212) 272.2000 (2121272.147 FINANCIAL TRUST COMPANY INC 4 aG STAraiteNT PrIMO latudey 31. 2004 THROUGH Febniany 27. 2004 Your Portfolio Holdings ACC:061c NOM., T. CASH & CASH EQUIVALENTS TASAR Malta On Flo LAST STATDADIr January 30. 2004 Wag" C511%0.103 CURRVO DESCRIPTION P1-11.0..ttsp 0.aNnre aRCE mi.( Ukraisi NOM nti.0 09 CASH BALANCE T4iNaGUNO0 -31.865.411 TOTAL CASH & CASH EQUIVALENTS 5.31.865.411 EQUITIES Equities & Options ACCT WUXI LSIMARD CURRENT 013CRINION SYSBOUCUSIP ME OU.UMIY PRICE VALUE ANIMAL MOVE MOO 00 BANK OF AMERICA CORP BAC WRGN 100.000 81.9200 8.192.000 320.000 3.9063 WALT DISNEY CO HOLDING CO 06 CASH 93.000 26.5300 2.467.290 19330 0.7916 WALT DISNEY CO HOLDING CO DOS LIMN 1.000,000 26.5300 26.530.000 210.000 0.7916 FLEXTRONICS INTERNATIONAL FLEX CASH 100,000 18.1000 1,810.000 LID GALYANS TRADING INC GLYN CASH 150.000 8.5900 1.288,500 !FROST FIN ITAL) 744352291 CASH 100,000 3.3430 334.300 CURT It0ST Ct. MBNA CORP IWB MRGN 1,000.000 27.3300 27.330.000 480.000 1.7563 TYCO INTERNATIONAL LID ITC MRGN 100.000 28.5700 2.857,000 5.000 0.1750 VECTOR GROUP LTD VGR MRGN 612.658 18.0500 7,448.477 660,253 8.8643 8SLTS£00-019-ANCIS SENTGEN HOLDING CP RSTD 9380646 CASH 9.1510 3,050,339 Total Equities& Options 581.307.906 51.694.783 TOTAL EQUITIES S81,307.906 51.894.783 027 02/24.04.11 57 cm vlsk I8 IJ IJ p Lg. O EFTA01260688 =MED TenC4.0. ITS .wait OMATO SUSSICWor OFFICE SERVICING YOUR ACCOUNT Ow. Sown, sasses co Bear. Stearns & Co. Inc. BEAR 383 Madson Avenue New York. New York 10179 Die Patectech Cola Noll troaktr. Its. Ten 11201.3$30 STEARNS (212) 272-2000 (2121 272.ICCO FINANCIAL TRUST COMPANY INC STATEMENT PERKO lartiory 31.2004 THIOLKIN reovary 21. 2004 ACCO.sn Wait unwell MAW On Fie LAST STATVerr lertun 30.2004 Your Portfolio Holdings (continued) YOUR PORTFOLIO HOLDINGS ESTIMATED ANNUAL INCOME 51.694.783 YOUR PRICEDPORIVOLIOHOLOINGS 549.442.495 0 m Transaction Detail INVESTMENT ACTIVITY ci m SURDAS! OAT! TRACE OAR ntAiRACION OISCITIMON SMIK4.0.19. OUAIRrtv MICE IXOrt AmOilon CREDO MiGht 02/03/04 01/29/04 BOUGHT WALT DISNEY CO HOLDING CO DIS 1.000.000 24.55430 24.614.305.00 WITH RIGHTS TO PURCNASE COMMON STK UNDER CERTAIN CRCUMSTANCE H AVG PRICE SHOWN-DETAILS ON KO ACTUAL CORVIIM TO YOUR AGENT ONSOUCITED r 02/18104 TOTAL JOURNAL WALT DISNEY CO HOLDING CO TO 353-01502 015 -157.000 5-24.614.305.00 DIVIDENDS 6SLTS£00- O1D- ANGS Of! 01SCA4✓DM STPOOLICUSI. OWNMY Wr MI Een wow 011:41 MOM 02/02/04 TYCO INTERNATIONAL LTD '03073 0c175 1,250.03 REC 01/02/04 PAY 02/0204 TOTAL 51 250.03 EFTA01260689 CLEARED T/OCCCH ITS voiCktv OWKD SUMMARY OFFICE SERWCAVG YOUR ACCOUNT Sc.. Eon Section Cap. Bear. Steams & Co. he BEAR 383 Madison Avenue Die Skean. Dm* Nan yon Rea Tat 11201,3$5.9 STEARNS New York. New York 10179 (212) 272-2000 1212) 2724[00 FINANCIAL TRUST COMPANY INC 6 N6 STAMPER/ PeIttO January 31.2004 1INIONOPI FOtnen 27.2004 Transaction Detail (continued) AcCONNT went TAXPAYER *n On Fie INTEREST LAST 'TAMAN, January 30. 2004 DAR DESCRIPTION STIEBOUVJS9 ODENIIIT PATE OS KM +smut CREDO Avant 02123(04 liff DB 038-66056 32.865.46 mat • 02/20 601.75505% FIAL 31832545 AVG21746495 0 TOTAL 5-32.865.46 z MISCELLANEOUS F I MOON TRAIGICTION OESCESPEON DEM MOM CRODEI MORA 02/16/04 JOURNAL NY282592/18 260.306.00 TOTAL 5260.306.00 m z -H Your messages r Excess SIPC Account Protection Update Effective February 16. 2004. the commercial insurer through which Bear. Stearns Securities Corp. Obtains excess SIPC protection changed to Customer ASSOI Protection Company CCAPC0'). a New Yak kensed insurance company. CAPCO has an A. financial strength rating from Standard & Poets. 09LTSEOCIA19- ANGS End of Statement COT 02,2501.11.57 001 rn 8 b.) IJ pp Is) EFTA01260690 CUAREO TotkOISAI ITS eioOLLY Onset> SLISSCAAW OFFICE SEMACING YOUR ACCOUNT Saw. Sara Steatite Cap. Boar. Stearns & Co. Inc. BEAR 383 Madison ATOMS New York, New Yak 10179 One Mcoueen Cerw Math &coo" eft Tort 11201.3159 STEARNS (212) 272-2000 (212) 2724070 FINANCIAL TRUST COMPANY INC ACCOUNT acctmvi DOARMANARA !TATO/the PERIM Unary 1.7004 TELEPHONE THACtrem lila) 30.2004 VISIT OUR WROTE woobearstraarroccen ACOOLNT AL DER What's In This Statement lltuliutluldl TAXPAYER POWER CM ITS. LAST STATPAENT Deromter 31.2003 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C./0 AMERICAN YACHT HARBOR • Transaction Detail 5 6100 RED HOOK SUITE B-3 Trades Not Yet Settled 8 QUARTERS #2 Your Messages B ST THOMAS VI 00802 0 m Your Portfolio at a Glance Market Value of Your Portfolio m TOTAL VALUE Or SECURITIES THIS PERCO 57.17%974 DSO Eiziourn S-7 479.796 j 7672.183 NET DEBT BALNCE -7,479,796 EdLoes 557.179.974 S39.407,916 NET mono THia PERIOD $49,700,178 MI Current market Sue NET EQUITY IAST STATEMENT 40,080.099 Last statements mono value r CHARGE SINCE IAST STATEMENT 9.620.079 O Snot marker value There are no 'Stop Loss' orders or other pending buy or sell open Orders On file for your account. T9LTSEOCIA19- ANGS Sc Pas real tory darer= or nonevent at deco or RV recant me detested b Atts. Div sunny a Ice efennetenit gnosis a*. Slane{ SW* denentil o Coon Somas a t0)404.1•21. P ono to Chef %nee. M Sew Own Steals Teo Uremia vale 54 frame Of ?of row* See mom ode Tr manes 00.001. Coo. Ore Wane. Cone eta. betryn. 20 40) 027 01/1.04.00.41 COI V124 8 IJ EFTA01260691 a-Mit= 'MOWN ITS wwilLY °AND 8815/04.99 One. Smarms StantletCop. Cl 81808:629) Web. Seal SeaSyn. We V% 11201.3859 (21 21272.1000 FINANCW. TRUST COMPANY INC 2 -n STATEMENT BACKER IS PRINTED ON THIS PAGE C in z -H r Z9LTS£00- 019- ANGS .177 C' , 3188 35 41 CO1 V824 EFTA01260692 Cla1110 19R04614 ITS rto011y 09540 SIA5SIOVAV OFFICE SERVICING YOIJR ACCOUNT kat 5914193 StC99.95 Cap. Beat. Steams & Co. Inc. BEAR 383 Madison 4949198 New York, New York 10179 One woman taros lam amen" Ilw V 11101.3359 STEARNS (212) 272-2000 a121172.1093 FINANCIAL TRLGT COMPANY PC 3 o•4 STAtilletr PERKO 19151107 1.2004 THROWN Janiary 30.2004 ACCOUMI MINIM Cash Flow Analysis Cash Balance Summary TAXIAY311 Main! On NO 114S WOO 3193313 0.09,4 WT STATOR/IT Dante 31.2003 OpeningBalance 5672.183.08 Cash 672.183.06 0.06 Funds Deposbei 8.000.558.00 Marcel 0.00 -7.479.796.60 OivklendsAnterest 102.254.30 Net Cashealance 5672,183.06 5.7,479.798.44 0 Amount Credited Securities Bought 56,102,810.30 .14,248,580.00 CividendsAnterest Charged -6.229.80 Income Summary ii 1195 931030 ltIA 10 DAR Amount Debited 5.14 254 789 80 Diridends 100,000.00 100,000.00 Net Cash Aahey -8.151.979.50 Credit Balance 398.34 398.34 m ClosingBalance 5.7 479 796 44 Total Weigh Im. Paid 5100 398.34 .4.373.84 5100 398 34 4.373.84 Bain 09 tans., 48 an aware 33339e4 Ines » 5:41931.9160 n Sit nave: Itch frasle. a %al a Ma% Iona ens trudges 'a 9•134 mote 11 Tanattea 0•11a Your Portfolio Allocation Portfolio Composition r rem toes 883, 1 Cain & WAS* 11% C&WCIISh Equivalent 7.479.796 Equities 57.179.974 Total 57.479.798 S57.179.974 E9LTS£00- 019- ANGS Equates 898 Ureutio xncns arse bide Purer snit. ve. tow %I.44 119 attil44, ntottle neat.< toe to sends* ,a1 ne• att, pentio 027 0.11034yu CC1 EFTA01260693 CUOMO DIVIDUCel 713 ,MOLLY Orme; SUSICWW OFFICE SOWING YOUR AMOUNT Boar. Stearns 8 Co. Mc. but. Sasm. Swan On BEAR 383 Madison Avenue Ov II•bow.t. Cat MAI Stool) Item Ted 11ZIYI•3$59 STEARNS New York. New York 10179 (212) 272-2000 Ufa 272.1000 FINANCIAL TRUST COMPANY INC 4 S4 STATOOENT P0100 larlAWy 1. 2004 THROUGH !awry 30.2004 Your Portfolio Holdings ACCOuNT /dwell% CASH & CASH EQUIVALENTS w)n, muulICTI On Ft LAST Simi:NSW December 31. 2003 MOW IsrNAttA CURSENT INSCRPTICA. IlA10.,CUSIA 0.14111Tv pRCE VALUE NAM MOW MO PO CASH BALANCE -7.479,796 TOTAL CASH & CASH EQUIVALENTS S-7,479,796 0 EQUITIES m Equities & Options ACCT WSW (MATEO CORM! otsosercw SYLIOCIAXISIP IYPE WAlltitt MICE Y_ AMYL/ NOW( nap no C BANK OF AMERICA CORP BAC WON rn 100,000 81.4600 8.146.000 320.000 3.9283 WALT DISNEY CO HOLDING CO 06 CASH 250,000 24.0000 6.000,000 52,500 0.8750 FLEXTROMCS INTERNATIONAL FLEX CASH 100.000 19.0000 1.900.000 LID GALYANS TRADING INC GLYN CASH 150,000 8.8090 1.321,350 IFIL(IST FIN ITAL) T44352291 CASH 100.000 3.0450 304.500 EUR1 INYST CL r MBNA CORP 10tIt MRGN 1,000,000 26.9600 26.960.000 480,000 1.7804 TYCO INTERNATONAL LTD Trc MRGN 100.000 26.7500 2.675,000 5.000 0.1869 VECTOR GROUP LTD YGR MRGN 412.658 17.1000 7.056.452 660,253 9.3567 SENTIGEN HOLDING CP RSTO 9380646 CASH 333.334 8.4500 2.816.672 P9LTSEOCIA19- ANGS Total Equities& Options 557,179 974 51,517,753 TOTAL EQUITIES 557.179.974 51.517,753 027 Ointoco. 43 001 vS24 IJ IJ p EFTA01260694 CLEARED TROUGH 103 WHOLLY OveneD SulasX044 OFFICE SERVICING YOUR Accouna Bear. Steams b Co. Inc. Bev. Rums Start*. Cap. BEAR 383 Madison Avenue New Yolk. New Yak 10179 Ole Magma En loath ercothn. New 1.011 1120148ED STEARNS (212) 272-2000 1212,212.1COD FINANCIAL TRUST COMPANY INC 5 a'1 STAIDAINT 40,000 044100 1.2004 neoccar Maury 3O 2004 AMOUNT WAVER TAXPAYEA Nagel On ft LAST STATDJOIT December 31.2003 Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIWJED ANNUAL INCOME S1,517.753 YOUR PRICEDPOR7FOLIONOLDINGS $49,700.178 ii Transaction Detail INVESTMENT ACTIVITY C in 5(17104111 DATE MAX DATE TRANSAL11011 DESCRIPION SVABOUOJS• WOMMY MCC DEMMOM aume AVOW 01/05104 12/29/03 BOUGHT If LOST FIN ITAL) T44352291 100.000 3.23000 323.00040 EUR1 INVST CI. UNSOLICITED 62003122905955 I 01/07/04 JOURNAL TYCO INTERNATIONAL LTD TYC AMOCO r 01/07/04 JOURNAL JOURNAL FROM TYPE 1102 VECTOR GROUP LTD VGR -412493 JOURNAL FROM TYPE 1 TO 2 01/07)04 JOURNAL TYCO PITERNATIOPLAL LTD TYC 100.000 44111/MI. FROM TYPE 1 10 2 01/07/04 JOURNAL VECTOR GROUP LTD VGR 412.658 JOURNAL FROM TYPE 1 TO 2 S9LTS£00- 019- ANGS 027 0143104:00:43 001 V424 011 8 IJ IJ p EFTA01260695 CLEAN» 13ROUON 38 397•141.1 OWNED 6091014Ar OFFICE SERVICING YOUR ACCOUNT Beer. Stearns 5 Co. Inc. kW San SeCutes Crn BUNR 383 Medtsco Avenue On7 W Cain Nam 11~1 7. 74m 709 112033139 STUNRNS Nev. York, New York 10179 (212) 272-2000 r212, M.1003 FINANCIAL TRUST COMPANY INC 314113.10W PER« Wintry I. 2004 7141,03.. Janney 30. 2004 Transaction Detail (continued) .1.107.7n Nunn« TAXP rq MAWR On FIB INVESTMENT ACTIVITY (corenued) 1.481 STATEMENT oxen*. 31.2003 StMDIOrt 117.101 DMZ DATE ntalaCTO. DISCR03/141 $71100.41191 DUMMY >ACI CENT 4444117 071CIT AMOUR 01/08104 01/D5/04 BOUGHT WALT DISNEY CO HOLDING CO 250.000 23.99000 6.012.505.00 WITH RIGHTS TO PURCHASE COMMON STK UNDER CERTAIN CRCUMSTANCE AVG PRICE SHONN-DETAILS ON REA 0 UACTUAL NSOUP nta TO YOUR AGENT COnTED AS OF 01A)5/04 01/09/04 01/06/04 BOUGHT BANK OF AMERICA CORP BAC 100.000 79.07050 7.913.055.00 -n AVG PRICE SHOWN-OETAKS Ø REO SOUACTUAL COAWJA TO YOUR AGENT GITED 01/30.04 JOURNAL MEINA CORP '<RS .1.000.000 JOURNAL FROM TYPE 1 TO 2 in 01/30/04 TOTAL JOURNAL MBNA CORP JOURNAL FROM net 1 TO 2 KRE 1.000.000 5-14 248.560 00 DEPOSITS AND WITHDRAWALS r OAT. 01/05/04 IØ FUNDS REC otScoomoN FNOSWIREO TO CMBANK FROM 5.4CHME OEMS 1112UNT 01100 AMOUNT 6.000.000.00 F0540050143701 01/06/04 FUNDS REC FNDSW1RED TO CMBANK FROM 556.00 GOLOWN SACHS CO WT40361615900 TOTAL $6.000,556.00 99LTS£00- IA19- ÅNGS 027 OW304.0933 001 VII>4 In I 8 b.) IN? ln 00 EFTA01260696 &WED AIROVIA1 ITS vretrAY oYRKD SUNIOARY OFTICE STAKING YOUR ACCOUNT Nw. Sirens Safes COM Boar. Steens & Co. Inc. BEAR 383 madden Avenue New YOfk, NEW York 10179 0.0 Ma wn One ?NM Etaitr. It at 20 22.19 STEARNS (212) 272.2000 12121272.100D FINANCIAL TRUST COMPANY INC 7de wrAvEuevr wage mnuety 1.2004 yrtROJer Hewn 30.2004 Transaction Detail (continued) ACCOM/1 Halt* TA,PAYM NUMICOI On FOe DIVIDENDS LAST STATEiron OeCembet 31. 2003 OM COMMON SYANOLCUSP OUANMY WE NI 0(00 MI001.1 CREDIT A2.42010 01/02104 MBNA CORP KRB 1.000.000 0.1000 100.000.00 REG 12/15/03 PAY 01/01104 C) TOTAL 1100.000.00 0 INTEREST -n DATE 01/21/04 OESCAPTOri INT DB 038-6605e SIVICUCUSO OUANTITY RATE fl Men AMA" 6.229.80 CROW NOUN! C 12131 - 01/20 .02.SCOOD% 6911. 7475820 AVG 4271898 rn 01/21/04 INTEREST ONCREOIT BALANCE ACCT 038-66056 AT 00.5000091 12/21 - 01/20 398.34 01/29/04 AO/ 1/21104 INT CHRG TO FF.7 1.855.96 TOTAL S-6.229.80 52.254.30 MISCELLANEOUS r LOOM' TIUMACTIOlt CASCRIEIDY DEBIT IACAM1 CREPT MOM 01/07/04 JOURNAL JOURNAL FROM TYPE 1TO 2 437.234.00 011071/0 JOURNAL JOURNAL FROM TYPE I TO 2 437 234.00 TOTAL 1.437.23400 5437,234.00 L9LTS£00-019-ANGS 027 01•31/04210,13 601 1024 EFTA01260697 CLURE0 150,438 nS wHOus Vert Su9/108444 Cfnce SERVICING YOUR ACCOUNT Sat Star% Seaslies Cap. Bear. Steams & Co. Inc. BEAR 383 Mason Avenue New York. New Yo.k 10179 08 mamma — two (nods% Nes Tot 11201 3859 STEARNS (212) 272.2000 1214 2721000 FINANCIAL TRUST COMPANY INC 8 0/ • STATTheir PEROD iStWery 1. 2034 1148003.4 ;assay 30 2004 ACCeciort M.2.10 Trades Executed Pending Settlement TAXPAYIA MAWR LAtt 87A080.1 Decarttr 31. 2003 581110.00 1RADE art DATE 110/44411:44 010211P1101 Snalcucusr COWRY 15910 0880 481018.1 0000 AM:0V 02/03/04 01/29/04 BOUGHT WALT DISNEY CO HOLDING CO [XS 1.000.000.00 24.5543 24.814.305.00 C) WITH RIGHTS TO PURCHASE COMMON UNCCR CERTMN CIRCUMSTANCE AAVG PMCE SHONN-DETAIIS ON REO O ACIUAL CONFIRM 10 YOUR AGENT IMSOUCITED TOTAL 624.614.305.00 $0.00 z Do nay Infos 02 M— n sey ear 4004n al N 0•Cencon T C in Your messages z J 111? Effective Excess SIPC Account Protection Update February 16. 2004. the commercial insurer through which Bear. The interest if any. charged to your account during December 2003 was computed on the net debt balance through December 30. The Interest. if any. Steams Securities Corp. obtains excess SIPC protection will change to charged to your account during January 2004 is computed from December 31. Customer Asset Protection Company CCAPC0'). a New York licensed Inv-ranee 2003. company. CAPCO has an A. financial strength rating from Standard and r Poets. STOPI End or Statemen 89LTSEOCIA19- ANGS 027 01/3104.0943 001 v824 I S b.) IJ p L a O EFTA01260698