EFTA01260699

Statements SDNYGM,351769 CONFIDENTIAL EFTA_0032J461 EFTA01260699 0.DRED EMAOUOM ITS WHOLLY CIAKO SLASI.IANY orricz SERVICIVG YOUR Bear. Steams & Co Inc BEAR /Mw Ytrt 11201.3419 STEARNS riiret FINANCIAL TRUST COMPANY INC STATEMENT Pomp December I. 2005 THROWS,. December 30.2005 COOLMT WISER TAXPAYER WAILER On Re LAST 'TAMAR Noverrter 30. 2035 FINANCIAL TRUST COMPANY INC CIO AMERICAN YACHT HARBOR ST THOMAS VI CO802-1348 O -n Pursuant to your previously issued insInxtions. Bear Stearns Securities Cap, provides duplicate monthly statements and/or transaction confirmations to the third parties listed on the cover page of this statement. If you wish to modify or cease distribution to any of the recipients indicated. please contact your C Account Executive. This reminder notice will continue to be provided to you on your guartaty statements. in Third Party 1 EPSTEIN A CO 457 MADISON AVE 4Th FLOOR NEW YORK NY 10022 r OLLTSEOCIA19- ANGS 027 I vrins,o•co WI rn 8 b.) Is/ t Is) EFTA01260700 MIMEO tnRCoan Ts 9640U.T 097.ED SLESIODAY OFFICE SERVICING YOUR ACCOUNT Ilea . Bear. Steams 6 Co. Inc. BEAR Nov/telt Now Teak 10179 Sven tµ1Ton 11201.3559 STEARNS FINANCIAL TRUST COMPANY INC ACCOUNT EACuTHE DENERMANARA STATETE7.7 PER192, December 1.2005 TELEPHONE mamma Defame.. 30.2005 HSU OUR HUSSITE wmv.hearsteams.com AGOO.? IATEIER What's In This Statement IIItIrIllt 1llLlla.RtlrltollnllulIIIInlll Tup/ATA PARER On Pie Lay 574- rurra november 30.2005 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 CIO AMERICAN YACHT HARBOR Transaction Detail 6 Fund Activity 6 Your Messages ST THOMAS V1 00802.1348 z m C Your Portfolio at a Glance Market Value of Your Portfolio II any Sormation regarding in Cells& Enthalara 59.418 014 2005 interest. *tends. macellaneous InCelne. gross z TOTAL YAUJE or SECURITIES THIS PERIOD MONEY MARKET RAM BALANCE 37.445.002 9.438.024 Erpites — 515.334.419 $37.445002 $37.353.781 proceeds a signal issue discount is reuired to be reported to the IRS for tha NET ECIUDY IRIS PERIOD $46.883.026 account. a Consolidated Form MN Currant market %a/c 1099wi1 be mailed to you by NET EQUITY LAST STATEMENT 52.688.200 MIISR SUIDETWES man.. value January 31.20360( a 10425 r CHANGE SINCE LAST STATEMENT -5.805.174 by maw, 15.2006. There are no Stop Loss orders or other pending buy a sell open orders on file (or your account. ILLTS£00- 019- ANGS stc nit Nan won my ...44,e0” cneen cia., sano.n reann s ea •442.•••0: 92.. tunny in Ite rfeensioren poosos Ils M Ren070 'alm Cearret. DR gatemen sinDie to rettned To you' nter0S. Set Melt Pet M Intaltal sherancn. 027 1291.05 COTO 001 van I8 IJ IJ p t 0' EFTA01260701 CLL4Ar0 -1w<79:77 77/1 2040uX Own= ...CIARV MPIPIPPMIL, maim FINANCIAL TRUST COMPANY INC z m STATEMENT BACKER IS PRINTED ON THIS PAGE ci m z H r ZLLTSEOCINDANGS 027 1213106:00 CO CO1 VS99 8 b.) IJ p L a EFTA01260702 MEOW THROWN ITS WOW( OWNED SVSSOARY OFFICE SERVICING YOUR ACCOUNT Ben Stearns a . Inc. BEAR i s.Jew Yen 11201.1/40 STEARNS N wYY N w York 10179 FINANCIAL TRUST COMPANY INC 3 rc surcono PEF400 Detente 1.2035 TITICUON OCCernber 30.2005 ACCOUNT %MOM Cash Flow Analysis Income Summary TAXPAYER Meer" On MO Re Klee MISSERUM Ma MOATS LAST STATENINT NoWITOCS 30.2005 Opening &liana Di:Wends 101605.54 2.657.200.46 60.00 Cron Balance Inc 0.00 2.395.40 Woes Fuld 12.039.769.94 Total 6103.605.54 52.659.595.86 Funds Deposited 6.000.000.00 Ciyidendsfintemst 63.835.60 Fenian Tax Withheld 0.00 .2.227.67 0 Amount Credited 518,103,605.54 Margin nt. Paid 0.00 -40,999.17 -n Money Fund Funds Wilhdrami 4.103.606.54 -12.000.000.00 Portfolio Composition C Amount Debited S-18.103.605.54 Cash/Cash Esiukekm 9.438.024 in Closing Balance $0.00 Equities Total 37.445.002 546 883 026 o Your Portfolio Allocation r COMI & EntlYNetC 21% ELLTS£00-019-ANGS • Equnies 79% uwwws Tenn None <INN Datfle WO., thy. nth% willon. 1^.• aCato. ponafitace • On., in, snalao n.< 0. rsu ..cnIsso 021 2.310509C0 199 to IJ IJ p EFTA01260703 CLEARED MOV3H wrair MoTZ0 IIMSOTTR7 OFFICE SERVICNG YOUR ACOOUN, BEAR ut 221 3.14 STEARNS Mbar 1°.79 FINANCIAL TRUST COMPANY INC 4 ce t STAMM, PIRTOD DiMnbel 1.2005 TPROMT Doperter 30.2005 ACCOUNT 'TOMER TAMPER MAW On rind PkNernbet 30, 2005 Your Portfolio Holdings LAST STATENTERT CASH 8 CASH EQUIVALENTS MAIM COMM CURRENT DESCRIPTIEN SMICOMS0 CUANIITT ORM YAM MIMS NOON( YRIIIM DREYFUS CASH MANAGEMENT-Ct. A DCA 9.438.024.33 1.0000 9,438.024 358.645 3.8000 ITISTFTLMOWLL SNARES EST. 30 DAY AVG YIELD 4.1100% TOTAL CASH & CASH EQUIVALENTS 59.438.024 5358.845 -n EQUMES C Equities & Options in 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 stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 — Outperform; P = Peer Perform: U — Underperform. The second rating represents the rating of the coverage universe relative to the regional Coady market index. The key for the sector rating is as follows: MO = Market Overweight; MW — Market Weight MU e Market Underweight. In cases where a BSC rating is present the name of an independent. third-party research provides and their rating may also be displayed. where such research is available. The various providers have normalized their ratings systems as follows: B — 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. thid-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not evadable due to legal reasons. r Independent. third-party research o at www.bearsteams.com or can call ' covered by the Firm's research is available to customers of Bear Stearns at no cost. Customers can access this research to request that a copy of this research be sent to them. ACC? WORM [SWARD 0JRRENT DESCRITTION STWOUCUSIP ME OMMY PRCE MIA ATORM INCCE/I 7110 OTT APPLE COMPUTER INC MPL CASH 20.003 71.8900 1,437.803 SSC eanwc.. STOCK P/SECTOR and BOYARS ALTERNATWE VIEWPOINT RATNG: S PLLTS£00- 019- ANGS BEAR STEARNS COMPANBES INC 85C CASH 130.000 115.5300 15,018,900 145,600 0.9694 027 12/312:01:4103 CM VW* I S IJ IJ t EFTA01260704 Cer.ARED THROUGH OS 111e0ttY OMCO SIMMAY CenCE SERVICOIG YOUR ACCOUNT Beet. Steams & Co. Inc. boa Satirrs Stoat x BEAR Now York Now York 10179 IMO*. Ws Very Ii2outtso STEARNS FINANCIAL TRUST COMPANY INC 5 ae STATEMENT PER 00 December 1.2005 THRCVM Deter:we 30.2005 Your Portfolio Holdings (continued) .CCOtir WWI= TAXIPMR rteMEA 00 Flo STAMM? November 30.2005 Equities & Options (c0 trued) VARCE1 ESTMTM CURCDU Of SMPTC.11 STIAIMMIM Pat Cwomnr east VALUE SANS &M. MOW MID 00 COLGATE PALA40LIVE CO CI. CASH 56.200 54.8500 3.082.570 65.192 2.1149 NC RATING: STOCK 0/SECTOR PM ARGUS FLoiComENTAL RESEARO4 RAMC: B 0 DEERFIELD TRIARC CAP CORP ACCREPTED INVESTORS 244572202 CASH 1,000,000 13.7000 13,700,000 -n ENVIRONMENTAL SOLUTIONS WORLDWIDE NC KERZHER INTERNATIONAL LTD ESVM KZI. CASH CASH 100.000 10.000 0.7000 68.7500 70,000 587.500 BSC RAMC STOCK 0/5ECTOR MW C NED DAVE RESEARCH RATP/G: rn VECTOR GROUP LTD VCR .,y44,4; CASH 159.589 18.1700 2.899.732 255.342 8.8057 WYNN RESORTS LTD CASS, 10.000 54.8500 548.500 BSC RATING: STOCK P/SECTOR IOW WALL STREET STRATEGIES RATING: B Total Equities& Options 537.445.002 5466.134 TOTAL EQUITIES 537,445.002 5466.134 r YOJR PORI F OLIO Fi0_0 [NGSES / ILIA I ED ANN'JAL INCOME $824,779 YOUR PRICED FORTFOLIOHOLDINGS $46,883,026 SLLTS£00- 019- ANGS 027 12/31,05.0000 COI VON I8 b.) IJ p 0"1 EFTA01260705 CLEAS$0 netoom rte Asore come) SuOSOART Cala SERVICING VGA ACCOUNT BEAR N Y To* 10179 11201.3.59 SIMMS FINANCIAL TRUST COMPANY INC 6 o'er STATMEXT mew December 1.2005 ToACIARE Dt«Otor 30.2005 Transaction Detail ACCOUEll ALMA* alla TAXPAYER .u, On Ole DEPOSITS AND WITHDRAWALS NIT VANS November 30 2005 art TRANSACIION °ESCROW% BEN MAXIM MO MOM 12/05/05 END WIRED MDASMI9121857FNDSWIRED TO 1,000,000.00 0 12/05/05 ENO WIRED i MDMICTS50710FNDS WIRED TO E i 10.000.000.00 12/14/05 END WIRED MDA*MI3131879FNDSWIRED TO 1,000,000.00 -n 12/15/05 FUNDS REC ENDS WIRED TO CITIBANK FROM 6.003.000.00 C rn TOTAL S-12.000.000.00 $6.000,000.00 MONEY FUND ACTIVITY art 4•CYDAY TIONSACITAi OCICRIATON STWOCEICUSP tar MOM Omoe AYdslf 12/01/05 OPENINGBALANCE 15.334.418.79 r 12/01/05 DEADEND DREYFUS CASH MANAGEMENECL A DION 39.769.94 INSTITUTIONAL SHARES MONDAY DNOENO 12/01/05 RONVEST DREYFUS CASH MANAGEMENT( A INCIOC 39.769.94 39,769.94 WSMUTOMAL SHARES MORD REINVEST 9LLTSEOCIA19- ANGS 12/05/05 SOLO DREYFUS CASH MANAGEMENT-CL A °IOU -1.000.000 1.0000 1.000.000.00 MSTINITIONAL SHARES 12435/05 SOLD DREYFUS CASH MANAGEMENT -CL A OlOO .10.000,000 1.0000 10.000.000.00 INOWVIONAL SHARES 021 12111/064•03 COI VON IJ IJ p EFTA01260706 rtgag011400UOM YS WHCSAN DATED 8898.10VRY OFFICE SERVICING TOUR ACCOUNT aw Sten Searles . Rear. Steams & Co. Inc. BEAR New Ye& New Yak 10179 Wert Not Tart 11201.38S9 STEARNS FINANCIAL TRUST COMPANY INC 7 we STATEMENT PERICO December 1.2005 ISROLOn Dectmter 30. 2005 Transaction Detail (continued) ACCOUr OSAISR va.X.I.Y09 µ.AWOL on nie ■ MONEY FUND ACTIVITY (cenbnuec0 LAST STAOPPIST NONOTOOr 30.2005 OMI SICSDAT 7IVICSACO:81 CCSOSPTION SOAllOUOJSIP COMFIT! MEC OEYI AMOS CREW MONT 12/14/05 SOLD DREYFUS CASH MANAGEMENT.C.I. A DIOCC .1.000.000 1.0000 1.000.000.00 INSTITUTIONAL SHARES 12115/05 BOUGHT DREYFUS CASH MANAGEMENT.CL A DIC10I 6.000.000 1.0000 6.000.000.00 O 12/29/05 SOUGHT INSTiTuTEN4l. SHARES DREYFUS CASH MANAGEMENT-C1. A OISTITLITCOLAL SHARES Dial( 63.635.60 1.0000 63.835.60 m 12/30105 TOTAL CLOSINGBAL S-6.103.605.54 $12.039.769.94 ci m DIVIDENDS DATE DISONPTION Ou.KITIY WE a: SUIT AlCiV4 CRUM MOONY H 12/29,05 VECTOR GROUP LT17 RE° 21CtS PAY 12.13 t 159.589 0.4000 63.815.60 553.835.60 r LLLTSEOCINDANGS 027 12/II.05.09C0 COI V899 EFTA01260707 CLEARED niROuoti ITS •Aitzto, OWVED RAISOlar OFFICE SERVCING YUIIR ACCOUVI Rear S earns . Inc. BEAR S Co n 11201.3019 STEARNS N ark 10' 79 FINANCIAL TRUST COMPANY INC B ea SThismorr Porkloo INCemter 1.2005 ?wows NOM:a 30.2005 ACCOLKT ionER TAKPAYM 'week Onille Your messages tan irrArklana MOvernber 30.2005 19:g? Education As part of the National Association of Securities Dealer's (NASD) Investor Program, you may obtain ?(oration on the NASCfs Public ' by contacting the NASD at telephone number m via the internet address which is yanii.nasdr.corn. In a 0 addition. a brochure explairting the Public Disclosure Program is available from the NASD upon request. z -n Ere] or Statement C rn z r 8LLTS£00- 019- ANGS 025 12(3105090, COI rn I S b.) IJ t EFTA01260708 CULARILD MIROUGH r15 MCU.V CONED SUSSOMY orrict SERVICANG YOUR ACCOUNT Ile. Suara Saks Bear. Steams & Co. Inc. BEAR War, a at STEARNS New Ye& Nen 10179 FINANCIAL TRUST COMPANY INC ACCOUNT DICUTNE ZIOIERMANIRA STATEMENT PERCO Isb.trIbet 1.7005 TELEPHONE NROUGm AbAgriNt 30.)005 RINI OUR WEBSTIE wabearsteams.cm, ArtetN7 SIAMER What's In This Statement ..... TAX.AvEli Madefft On rile LMT STATEInia Coat 31.205 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 FJO AMERICAN YACHT HARBOR Transaction Detail 6 Fund Activity 6 ST THOMAS V1 00802-1348 0 z -n C Your Portfolio at a Glance Market Value of Your Portfolio in Cash* Waders 616.334A19 z TOTAL VALUE CC SECURITIES 'rtas PotiOD MONEY MARKET ROAD BALANCE 37.353,781 15.334.419 NSW — 312096.339 337.353.781 537.793.949: S-SCCO NET EQUITY MIS PERIO0 $52,688.200 Etta ITWte WOW El IIIII lint statement's market value NET MUM LAST STATEMENT 49,871.187 r CHANGE SINCE LAST STATEMENT 2.817.013 CI Etat Market vale These are no 'Stop loss' orders or other pending buy or sell open orders on file for your account. 6LLTSEOCLAID- ANCIS Pa ran ad COWES raci4ed as d.wnd a viv Ten suenury is Re MeTureaal paws aw. Rena Mae as s In anent lc. no.. era *Ca SWAM ea Ike Eon Searles TN. intertelt 04.14 04 Wanedbe ye.. ryas. See revere a br marten nftmeean fire. @IS M,V. 1, 307•3650 027 I MITE 07 IS 001 VS90 m 8 b.) IpJ -J EFTA01260709 CLEARED THROLCH ITS %%toy OMW SuBSOwtf Ste. Sidra Saa.tbes C.N9 ANIMMIMMIL. INNS FINANCIAL TRUST COMPANY INC 2 0 z m STATEMENT BACKER IS PRINTED ON THIS PAGE ci m z H r 08LISE00- O19- ANGS Oh WOWW.:36 001 VS98 EFTA01260710 ri.rac0 TNROvaw Fri %%DOLLY OVflD BLOSSOMY OMCZ SERVICING YOUR ACCOUNT Bet Sten Seelifitis Bear Steams 6 Co. Mc. BEAR New Tara. New York 10179 STEARNS FINANCIAL TRUST COMPANY INC 3 da STATEllea PER/“. NOVCDOCS 1.2005 THROWN Navemba 30.2005 ICCO, NT NUMBER Cash Flow Analysis Income Summary TMPAYDI /MOOT On Fie TIC N 1145 POMO VtAt TO WS IAST STATEMENT Wow 31. 2005 CceningBalance 54,531.74 ()Wands 336.901.61 2.553.594.92 Credit Balance Ira. 0.00 2.395.40 Securities Sold 2.682.277.75 Total 5336.901.61 52.555.990.32 C) Money Fuld Funds Deposited 6.103.61 234.432.12 Fixer Tai Wahheld 0.00 .2.227.87 0 EavidenisAnterest 330798.00 Margin Iii. Paid .4,531.74 .40,999.17 Amaral Credited 53.253.611.48 -n Money Fund 4.253.611.48 Portfolio Composition 0MdendsAnterest Charged .4,531.74 C Cashtash EquireleM 15,334,419 rn Amount Debited Net Cash Activity S-3.258.143.22 .4,531.74 Equities Total 37.353781 552.688.200 ClosIn9Balance 30.00 Your Portfolio Allocation San. -Virden et u1. bobble acami 000 me car eclarods,114 teelerc md• Deafen *et 000s WON. 10.0.K1cns Des •Oplao n Torino. OEM. r CdSti aC Cash Balance Summary 30% MOM =SING Cash 4,53134 0.00 ISLTS£00- 019- ANGS Net Cash Balance 54.53134 $0.00 0n1.1.1 pylon Ctra Signe &VW /now .a1.••• The Scam oseaelase • 600A0 Iran P. It:WAG WSl %via St you. tao$e 027 1120105 0I 15 001 vex EFTA01260711 C&2 ThROV30.1 ITS %HOLLY DANED SUSitepAY OFFICE SERviaNG YouR ACCOLafr Inc Swan Starnes Carp. Beet Stearns & Co. Inc. BEAR 19.1 . .reiv 0179 MIIIMPONIS STEARNS FINANCIAL TRUST COVPANY INC 4 as STAITWNY PS 0J Mriernbe 1.2035 ne014., Novembe 30.2005 AOCCLItt NUMBER TAX*AYER NUMBER Mom Your Portfolio Holdings LAST STATEMENT Octabec 31.2005 CASH & CASH EQUIVALENTS War ESINAITO CAREX ULSCVIOR SIWOJELISIP CALW111Y Plea unit AMU& WOW ‘1ELO re DREYFUS CASH MANAGEMENT-CL A [ACV 15,334,418.79 1.0300 15.334.419 567.373 3.7000 NSTITuntwit SHARES 0 Est. 3o DAY Ave YEto 3.9000% TOTAL CASH & CASH EQUIVALENTS 515.334.419 5567.373 -n EQUITIES C Equities & Options rn 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 stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform: P - Peer Perform: U - Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO -. Market Overweight; MW - Market Weight: MU - Market Underweight. In cases ctiere 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 Pifcemanan 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 arty 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 vmw.bearstearrrs.com or can call to request that a copy of this research be sent to them. M.CT PAPAW ISMATI0 non OLICRPMN 511.01/CUSP ME 011.2011( POE MO AliMai. MOLE '11W aq APPLE COMPUTER INC MPL CASH 20.000 87.8200 1.356.400 BSC RATING: STOCK 0/SECTCO ION BOYARS ALTERNATIVE VIEWPOINT RAMC: S Z8LTSEOCIA19- ANGS BEAR STEAK IS COMPANIES INC BSC CASH 130.000 110.9900 14.428,700 130,000 0.9010 02i 12XN/01,314$ COI VON EFTA01260712 =ARCO THROWN ITS WICOY 0iVCD SURSI)Olte SIERYKA1.0 YOUR ACCOUNT Bear, Steams & Co. Inc. 11•4 101.1n SOTIMS BEAR New York Now York 10179 ORO*. Pis et 20 SIS STEARNS FINANCIAL TRUST COMPANY INC 5 ye STATMert 'PROD NOtrtsR 1.2005 nwouen Nowetei 30.2035 Your Portfolio Holdings (continued) ACCOLN7 NUI/SkR WOAKR WORM On TM LAST STAMORT October 31.2006 Equities & Options (continued) fit-C1 WORT MIAOW CURRDO I:RUMOR SIVOX.<1.1. not IMMO PRICE VOUS alit POORE TRIO 00 COLGATE PALMOUVE CO CL CASH 56.200 54.5200 3.064.024 65.192 2.1277 BSC RUNG: OR IRN ARGUS FUNDMENTAL RESEARCH RATING: B 0 DEERRELD TRIARC COP CORP ACOZEOMED WVESTCRS 244572202 CASH 1.000.000 14.2100 14.210.000 -n ENVIRONIAENTAL SOLUTIONS ESVAN CASH 100.000 0.7960 79.600 WORLIWAX WC KERZNER INTERNAnONAL LTD Kn. CASH 10.000 65.0100 850.100 BSC RATING: STOCK OFSECTOR NW C NED OARS RESEARCH RATING: El in VECTOR GROUP LTD VGR CASH 159.589 18.8400 3.006.857 255.342 8.4926 WYNN RESORTS LTD VANN CASH 10.000 55.8300 558.300 8SC RATING: STOCK P/SECTOR NEW WALL STREET STRATEGIES RMING: li Total Equities&Options $37.353.781 $450,534 TOTAL EQUITIES 537.353.781 5450.534 r YOUR PORTFOLIOFOLDINGsE.,7 irv4*ED 51 017.907 YOUR PRICEDPORTFOLIOHOLDINGS 552.688.200 ESLTS£00- 019- ANGS CI21 12201/0622133 COI PPM Ei1 8 b.) IJ t LA EFTA01260713 C.LARCD •IISOJGH C'S vist.Lr OMSO 5~01~ OFFICE SERVICING YOUR ACCOUNT BEAR MIS` on 11201.3159 STEARNS It" 10179 FINANCIAL TRUST COMPANY INC 6 Cl sTANsorr mum ~tee 1.2005 TsillOUCH NovertOtt 30.2005 Transaction Detail ACISOLAST ~Ma alit ~AYER ~ER On FAA INVESTMENT ACTIVITY LAST slammer Omaha 31.2006 5IØ MOE WE 0Alt nuaSTC113N OLSCRPTION MAIOUCUSP MAMIE PRICE OW ~LW CROW NATUNT 11/21/05 JOURNAL CALL COLGATE PALM NOV 055 •••• 1941829K1 200 (-) 11/29/05 11/23/05 SOLD DP 1111917005 COLGATE PALMOLIVE CO Cl. 0 -SO.0O3 53.70780 2.682.277.75 UNSOLCITED TOTAL 52.682.277.75 DEPOSITS AND WITHDRAWALS OM libueSACIEW OCTERrow OMIT "WW1 CREW MOUNT in 11i07/05 FUNDS REC ENDS VARED TOCITIBANK FROM 1MRNE NYC F0453110076701 91.131.25 11/08/05 FUNDS REC ENDSWIRED TO CMBANK FROM 143.300.87 INIORGAN CHASE 10653120133N:el TOTAL 5234.432.12 r MONEY FUND ACTIVITY DATE LOWY liwaCnoN CISCRIPMN stmicucuso OLmmy max DEW AYOUB« WM »OM 11101/05 OPENINGBALANCE 12.080.807.31 178LTS£00-IA19-ÅNGS 11A)1/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A DØ 4.531.74 1.0000 4.531.74 NSITTUTTONAL SHARES 11/01/05 DIVIDEND DREYFUS CASH MANAGEMENT-CL A 6.103.81 INSTINTIONAL SHARES MONTHLY ONDEND on vouosto:ss 001 1/99. EFTA01260714 CLEARED Tegiar.n rtS vineur OAT= SIAS;PARY OFFICE SERVICING YOUR ACCOUNT tota SournsSitu.on . Beer. Steams & Co. Inc. BEAR New York. New York 10179 Ortega. New Yen II2014859 STEARNS FINANCIAL TRUST COMPANY INC 7 or. sneer KN.") Nerrember 1.2036 nwouom Ncreber 30, 2005 Transaction Detail (continued) ACCOurir TO)AvER walla On Fla MONEY FUND ACTIVITY (conttued) um *TAMAN! October 31.2005 tout IOW OINSCOdi DtSCRPMC•1 StwePAWN 0_ UT? owe canMerl GRECO /MOM 11101/05 REINVEST DREYFUS CASH MANAGEMENT-CL A 6.103.61 8.103.81 INSURITIONAL SNARLS ONMENO REINVEST C) 0 11/07/05 11/09/05 BOUGHT BOUGHT DREYFUS CASH mANAGEmENT.CL A ISTITUTIONAL SNARES DREYFUS CASH PAANAGEmENTa A c403( MOO( 91.131.25 143.300.87 1.0300 1.0000 91.131.25 143.300.87 DiSirtuTIONAL SHARES -n 11/15/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A eismtmom. SNARES DIC)Cf 30798 1.0000 30,798.00 11/22105 BOUGHT DREYFUS CASH MANAGEMENT-CL A DIM( 295.468.26 1.0000 295.468.26 C INSFITLMONAL SHARES in 11/29/05 BOUGHT DREYFUS CASH MANAGE?:n. a A INSITTuTCHAL SHARES DION 2,682,277.75 1.0000 2.882.277.75 11/30/05 CLOSINGBALANCE 15.334.418.79 TOTAL S-3 253 611.48 S6 103 81 r DIVIDENDS OAR COOIMPTCM SIMIOL/CUSP %WIN RATE (4 DONT WONT CREW DAIOUNI 11/15/05 COLGATE PALMOUVE CO CL 106.200 0.2900 30.798.00 REC 10/26/05 PAY 11/15/06 11/21/05 DEERFIELD TMARC CAP CORP 244572202 300.000.03 ACCREDITED INVESTORS S8LTS£00- 019- ANGS RD 11/77 RD 11/21 WI 80000 CSN ON ON 100=0 SIM CASH OF/ TOTAL 5330.798.00 021 17/01/45:0713 CO1 Wee I8 IJ IJ p -3 EFTA01260715 0.LARCO naCtiCo r3 wnOLLY Onna0 SVISOLARY OFFCE SERVICE% YOUR ACCOUNT BEAR allagork 10179 eat asse rt 11201.3359 STEARNS FINANCIAL TRUST COMPANY INC 8 as STATILICXT MECO NOVenlEtt 1. 2005 THROUGH tiOvernter 30.2005 Transaction Detail (continued) ACOXill tune% TAXPAELA mediel1 On FM INTEREST tASE STATMENT October 31.2005 out OtSCRP/111 3111101101Se 202 110 air "NOM CREW MOON, 1121105 INT 4,531.74 T4iNaGUNO0 10r2DIE )R .50CCO% BA!. 0 AVG 1169481 TOTAL S-4.531.74 MISCELLANEOUS art Wow TRONSAL113,1 OfEatiensa DEBT OAOLV(2 CIOZO WOW 11/22/05 XVRNAL JOURNAL FROM TYPE ITO 2 4.531,74 11/22/05 JOURNAL JOURNAL FROM TYPE 1 TO 2 4,531.74 TOTAL 1-4.531.74 54,531.74 STOP] End of Statement 98LTS£00-019-ANCIS 017 11070607 15 001 AIM Fn I8 b.) b.) --J 00 EFTA01260716 CLEARED TER016311 ARCALY 0 16i0 Sut1SOLDAY OFFICE SERVICING YOUR ArrnuNT Raw Stan Loran . Bear. Steams 5 Co. Inc. BEAR 383 Madison Avenue New Tat New York 10179 Pave 01 013859 STEARNS FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTNE Zr.NERMAN.IRA /DAMARA? PERDO October 1. 2005 TELEPHONE TAltou04 0cmer 31.2005 VISIT OUR WEBSITE vAny.bearsteams.com Alm PC Y-61101 What's In This Statement I MOAK* NVIALIER D Fib VAST STATEDEME SepleArCer 30. 2005 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 00 AMERICAN YACHT HARBOR Transaction Detail Fund Activity 7 ST THOMAS VI 00802-1348 0 -n C Your Portfolio at a Glance Market Value of Your Portfolio in TOTAL VALUE OF SECURITIES TILLS PERIOD 37.785.848 C.° C.W.O.. P515.190 S12.085.339 NET CREDIT BALANCE 4.532 [was 137.790.848: S-S,CCO 582.488.888 S-8.000 MONEY MARKET EURO BALANCE 12.080.807 Curter* ma,t NW NET EQUITY ma PINGO $49.871,187 OMLas gatelwall =Met wAue r NET FOUR LAST STATEMENT 82,636.678 slot motet Sue CHANGE SNCE LAST STATEMENT -32.765.491 There are no 'Stop Loss' orders or other pending b or sell open orders on file for your account aLTS£00- 019- ANGS Pease ?Ann *AI 6 d o6fAcr RAD recnd a ad.nrsi b py t TM wary is for menttAtel payesti eery. E N Mt rteried as • tic 6xurict CA., a an Own Swam N S. Ron Sawn 6.6eallet Wad be Mime 'Cr you. Ian Sot Mtn< fa ICe rPCNrI 166.16119. 116608. NY 11X14850. 021 110050S 34 001 11197 En I S IJ IpJ -J EFTA01260717 r, nese, TO RS wrCt.LY DMCD SuO.SOTTRY 1110111111Mit rsircerc ai 11.201.3859 FINANCIAL TRUST COMPANY INC 2 ergo 0 z ii STATEMENT BACKER IS PRINTED ON THIS PAGE C rn z -H r 88LTS£00- 019- ANGS 033 I1g%q& 001 V897 IJ IJ p C EFTA01260718 atom meows its MOLLY 00.40 SUOIMIXARY OFFICE SERVICING YOUR Accoun: Ere Srelestleordes t Bear. Steams & Co. Inc. BEAR New York. New York 10179 Ereekte. New ark 2013•50 STEARNS FINANCIAL TRUST COMPANY INC 3 a .c sTATthea maw October 1. 2005 "mown Oclobc. 31. 2005 ACCOUNT IS ER Cash Flow Analysis Income Summary This TAXPAVTA NUMBER 0/1FYI MS MOO TDB ID Out LAST STATVAPIT 54oternbw 30.2006 OpeningBa lance $0.00 Dwiderds 224.387.50 2.216.693.31 Creek Balance Int. 0.00 2.395.40 Securities Sold 18.015.157.21 Total 5224,387.50 52.218088.71 Money Fund 670921.28 Dndends/Interest 223,003.00 Foreign Tax Withheld 0.00 -2.227.67 0 Miscelanecus 19.716.376.76 M.ngki Int Paid -30467.43 -38467.43 Z T Amount Credited 538.625.458.25 t l SectrlUes Soule -989.905.00 Portfolio Composition Money Fund -12.584.554.08 C DiudendsfIrr.erest Charged .36.467.43 940W ON in Mescellaneote • -25.000.000.00 Cashtash Equwalent Wits 5.000 12.085.339 37.790.848 Amount Debited S-38.620,926.51 Total 55.000 549,878.187 Your Portfolio Net Cash ActMty 4.531.74 Allocation Clceltwpalance 54.531 74 r Sas ary trews a ash buts, soar, ape ay nal rade< - an at KOWA a NAAS a me a di Cele Sr al fee Peewee I' acne Cafe & EiawalC411-, 24% Stahl (gut Cash Balance Summary <1% 68CESEOCIN9- ANGS Cash 0.00 4.531.74 Equhos 75% Net Cash Balance $0.00 54.531.74 teepee totem dIec orb' Mine eke eert narnt rat. The alocolom percener 4 Ozeked Fn Po ieesiA• tyleht al Ica. Kaltab 021 C11,O5O6 14 COI 1697 rn IJ li) t EFTA01260719 CLEARED 11.V..iCei rts %%mai, Onfa0 Sufism/ow OFICE SERVICE% YOUR ACCOUNT BEAR Mile 10179 saw n 11201.38..9 STEARNS FINANCIAL TRUST COMPANY INC 4 er io surnahT KA00 October 72005 name October 31.2005 se-COuNT mA8801 ionvER MWYA On Ft Your Portfolio Holdings Lost stwowor Sweeter 30.2005 CASH & CASH EQUIVALENTS ESI1kWIED CURRENT OESCSIV11011 SYS.30L/CLISI OMWIrN TEFL A108)AL MD OE) CASH BALANCE 4.532 0 DREYFUS CASH MANAGEMENT-Q. A risTrtunckAL SHARES EST 30 DAY AVG EMU) 3.7500% DIDM 12,080,807.31 1.0000 12.080.807 410.747 3.4000 -n TOTAL CASH & CASH EQUIVALENTS $12.085.339 5410.747 C EQUITIES rn Equities & Options The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the FrMs 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 = Underperfcem. 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 Ovenveight: MW - Market Weight: MU = Market Underweight. In cases where a BSC rating is present. the name of an independent. thirdparty 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 pi/poses only and Is not intended to provide tax, legal or investment advice. Bear Stearns Is neither soliciting any action based on such information, nor r endorsing any recommendation or opinion expressed by any independent. thin:Teeny research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent. thrd-party research o ' 'es covered by the FinlIS research is available to customers of Bear Stearns at no cost. Customers can access this research at www.bearstearns.com or can call to request that a copy of this research be sent to them. ACC! PAMICEI tsnumeo 0.0111.00 DESCRP104 Srull0LiEUS19 OluNfirr PbCt VALUE Walk NOW( 211.1.0 nn APPLE COMPUTER INC AAPL CASH 20.1:100 57.5900 1,151,800 06LTS£00- O19- ANGS 8SC RATING: STOCK 0/SECTOR MW BOYARS ALTER/UTNE VIEWPOINT RATINGS SEAR STEARNS COMPANIES INC BSC CASH 130,000 105.8000 13.754.000 130.000 0.9452 027 11.01/05:00,14 001 I S b.) IJ p 00 00 IN) EFTA01260720 O-LANG NowuGm In "coy ONNEO SUSSIYARy OFFICE SERVICING YOUR ACCOUNT Bear. Sten & Co. Inc. lilea wan Smeltsa BEAR New York. Now York 10179 bticOr. N. at •70 4159 STEARNS FINANCIAL TRUST COMPANY INC 5 a :c STATEwbil EfR00 October 1.2005 THA0-10.4 October 31.2005 Your Portfolio Holdings (continued) Accoun Mildl E TAXPAYZR wiA.Merg Ore Fle LAST STATACYT September 30.2005 Equities & Options (continued) ACCT MARCEL estwattO CURRENT DISCRPTIOW SIABOLCUSP NPL WORM Plea VALUE IANWL Itatbit TI(t0 rs) COLGATE PALMOLIVE CO CL CASH 106.200 52.9600 5.624.352 123.192 2.1903 BSC RATING: STOCK WSECTOR Lew FueCRuM GLOBAL PARTNERS. LLC RABIC: B CALL COLGATE PALM NOY055•••• 11955 CASH .200 0.2500 4.000 EXP 11119(2006 DEERFIELD TRLARC CAP CORP -n 244572202 CASH 1.000.000 12.9700 12.970,000 ACCREDITED DIVESICRS ENVIRONIMNTAL SOLUTIONS ESVAV CASH 100.000 0.5500 55.000 C WORLOWDE NC in KERZNER INTERNATIONAL LTD BSC RAMC: STOCK 0/SECTOR MW NED DAMS RESEARCH RATING: H KA CASH 10.000 58.3500 583.500 VECTOR GROUP LTD VGR CASH 159.589 19.9600 3.185.396 255.342 8.0180 WYNN RESORTS LTD WYNN CASH 10.000 46.6800 466.800 8SC RATING: STOCK MEMORIAM WALL STREET STRATEGIES RATING: H r Total Equities& Opticms TOTAL EQUITIES 337.785.848 637.785.848 6508.534 5508.534 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME 6919.281 T6LTS£00- 019- ANGS YOUR PRICEOPORTFOLIOHOLDINGS 543871.187 071 n01650334 00• YYt IJ p EFTA01260721 0.EARED IIPIOV>1 r7s Vil*O.LY CAVED StALMARY OFFICE SERVICING YOUR ACCOUNT BEAR ladkork 10179 ~rte., 11}01-385D STEARNS FINANCIAL TRUST COMPANY INC 6 el '0 STATTWICT nag° October 1.Ø5 THROJGH Ottobe 31. 2005 Transaction Detail FCCOL.IT ~MA ~ra 1~mi:it WWI«. On Flo INVESTMENT ACTIVITY LAST STAUNCH, Smerntx« 30. 2005 SETTIDAEM MIX DATE DATE TRANS/03N Manx Snmaucum. Limin NOCE 00111 AVC4.41 CREW AMOUNT 10/06.05 1W WUL BEAR STEARNS COMPANIES INC BSC -450.000 JOURNAL FROM TYPE 1 TO 2 10/06/05 JOURNAL EQUITY OFFICE PROPERTIES TRUST EOP -110.000 541 JOURNAL FROM TYPE 1 TO 2 10/06105 JOURNAL BEAR STEARNS COMPANIES INC BSC 450.000 JOURNAL FROM TYPE 1 TO 2 1 1 10/06105 JOURNAL EQUITY OFFICE PRCPERTIES TRUST EOP 110.000 S8I JOURNAL FROM TYPE 1 TO 2 10117/05 10/12/05 BOUGHT ARRA COMPUTER INC /APL 20.000 49.49500 989.905.00 m WITH RIGHTS TO PURCHASE COMMON SDI UNDER UNSOUC REDCERTNN CRCULISTANCE WE TAME A MKT RI THIS SECURITY AVG PRICE: IIETAILS ON REQUEST UNIT PRICE 49.435000 10.24/05 JOURNAL O COMPANIES INC BSC µ .100.000 T VS 7.14 AT 1 10127/05 1024/05 SOLD IMCNCAU REALTY CORP r 10127/06 1024/05 SOLD UNSOUCRED CU 48.100 41.90500 3.686.385.18 TOO INC TOO 4,100 27.20240 111,274.17 UNSOLICITED 10127/05 1024/05 SOLD BEAR STEARNS COMPANIES INC BSC -100,00) 104.54700 10,448,257.99 UNSOLICITED BEAR STEAMS å CO. INC. 5 A sussicum OF DIE 06.26 ISSUER. Z6LTS£00- IA19- ÅNGS VSP 7/14/0591 10/27/05 1024/05 SOLD EQUITY OFFICE PROPERTIES TRUST (OP -110.000 30.69360 3.369.549.87 581 UNSOLICITED 027 11/~01,4 Ø ven 1 8 b.) IJ p Ja EFTA01260722 0.EMED 7i440u0n n vmCkur 0~0 SuniCtun• OFFICE SERVICING YON Accouorr Ziee. Reams Scants Sew Stee0ö 8 Co Inc. BBNR New Yoh. New Yen Ye Yen 11201-3859 STURNS 0179 FINANCIAL TRUST COMPANY INC 7 co , 0 STATOJINT Elmo OaCter 1.2005 niActaaK (Mote 31.2005 Transaction Detail (continued) A NT m/74ER TAXPAYER ran3ER On ne INVESTMENT ACTIVITY (ccn0luee) LAST STATeutwT Sigarnbe 30. 2005 SE1TtDAENT TOME DATE DATE TIAKSACTIDit DISCR911091 SYMEICUCUSP ~MT+ pAKI CEDE! A11001rt mot Now 10127/05 JOURNAL APPLE COMPUTER INC AAPI. 20.000 JCIANAL FROM TYPE 2 TO 1 10127/05 JOURNAL BEAR STEARNS COMPANIES NC BSC 250.000 JOURNAL FROM WEE 2 TO 1 10/27/05 DELIVERED TOO INC TOO -45.9C0 DEL 7000005 1027/05 JOURNAL APPLE COMPUTER INC AML -20.000 -n 1012705 JOURNAL JOURNAL FROM TYPE 2 TO 1 BEAR STEARNS COmPATIES NC BSC -250.0O3 JOURNAL FROM TYPE 2 TO 1 1O/28/05 10/25105 SOLD 'ROST FIN HAL) IFPSF -1CO,CCO in EMU HYST CL UNSOUCTTED 82005102507438 I 8 051025 3.99590 399.690.00 REPORTED PNCE 4.055900 DEFERENCE -0.060003 10/31/05 DELIVERED BEAR STEARNS COMPANIES INC BSC .120.000 DEL TO 05198 TOTAL S-989,905.00 $18.015.157.21 r MONEY FUND ACTIVITY art MOP! TM/GAME« DESCAPTION STISCUCUSIP .0UPInDY PRIZ2 om Masa CAMP /MOUNT 10101/05 OPENINGBALANCE 155.790.01 E6LISE00- 019- ANGS 10/03/06 BOUGHT DREYFUS CASH MANAGEMENT-CL A NON 512.591 1.0000 512.591.00 ESTITUTTONAL SHARES 027 111OUDIce»34 001 Yile7 EFTA01260723 ULM= ThROLG14 n WHO./..Y INAZD SUOSIOVAY OFFCE SERYCIttG YOUR ACCOUNT BEVY Stearns & Co Inc. BEAR Y York 10179 ft Nal Ism 11201.3e19 STEARNS FINANCIAL TRUST COMPANY INC STATEmENT MOD:0 °STOW 1.2005 Tp00.4.1 °mom 31.2005 Transaction Detail (continued) ACCOuNT KAMER Min TOONYER MIMM31 On EIC MONEY FUND ACTIVITY (continua:) LAST STATEMENT September 30.2035 OAK MOONY TRAPSC111N DESCRIPTOR SYmbatitta, Oumbrrt nett ban man Mob Alcoa 10/03/05 DMDEND DREYFUS CASH MANAGEMENT-CL A DOG 1.155.77 edmunOeui. SHARES MONTHLY DIVIDEND 0 10/03/05 REINVEST DREYFUS CASH MANAGEMENT NSTITUTIONAL SHARES DMDEND REINVEST -CL A MOM 1,155.77 1,155.77 z 10/06/05 SOLD DREYFUS CASH MANAGEMENT-CL A DIC10( -669,536.78 1.0000 669.536.78 -n 10/06105 DMDENO IISTRUTONAL SHARES DREYFUS CASH MANAGEmENT-a. A INSTITUTIONAL SHARES DIClOI 228.73 C RESIDUAL DRICEND in 10/27/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A INSMUTIONAL SHARES (Ca 11.573.149.05 1.0000 11,573,149.05 z 10/28/05 BOUGHT DREYFUS CASH MANAP-FIAFTG-CL A RISTITUDONAL SHARES ' Dna 507.658.26 1.0000 507.658.26 10/31/05 CLOSINGBALANCE 12 080,807.31 TOTAL 5-12.594.554.08 5670.921.28 r DMDENDS DATE DESCOPTEM STMEOUOJEF 010MITI RODE CS) DEIR Alta CREDIT AMOUNT 10/17/05 EQUITY OFFICE PROPERTIES TRUST EC. 110.000 0.5000 55,000.00 $81 REC 09/3(105 PAY 10/17/05 V6LTS£00- 019- ANGS 10/17/05 MACKGAU REALTY CORP Cu 88.100 0.6300 55.503.00 bEc 10405/05 PAY 10417,05 WT 11/01.06:01114 CM 1007 rn IJ fo / EFTA01260724 CAMEO 1149303n RS WHOWE OARED SuSSORRY OFFICE SERVICING YOUR ACCOUNT Bev Suers Saanias Bear. Steams E Co Pc. BEAR New Yn New Yen 10179 Nat of 1201 3359 STEARNS FINANCLD TRUST COMPANY INC 9 •: summer nano °tuber 1.2005 THR0uPT OCIPX4 31.2005 Transaction Detail (continued) *moue WIPER X72 TAIDARTIR RPM. On FIR DIVIDENDS (conUnued) WT PATDIEVT Septerber 30.2005 OAR DESORPTION SWEIOUCUSP MAMMY RAM RI DEa AVOUP41 COW!' MOOR 10/28/05 BEAR STEARNS COMPANIES LNC BSC 650,000 0.2500 112.500.00 REC 10,18/05 PAY 10'28/05 C) TOTAL 5223.003.00 0 INTEREST -n an 10/21/05 COOltP/101 INT 08 Slat LSI Ctmitry AAR rhi ORR AVOUN7 36.467.43 CREOR AMOUNI 09/21 .111.5012814 C ML 6005850 RIG 9721862 in TOTAL 5-36,467.43 MISCELLANEOUS aR MODAY TIIMISACTKAI CtSCSFIPPC`. OMR AMMO MCC masa 10703/05 JOURNAL FROM 151.250.00 r 10/03/05 10104/05 JOURNAL CASH-UEU FROM VECTOR GROUP LTD 381.341.00 9.78 CASH IV LIEU OF .50000 REC 09/2005 PAY 0929105 10706435 JOURNAL. JOURNAL FROM TYPE 1 TO 2 669.546.54 10/06/05 JOURNAL TO 25.000.000.00 S6LTS£00- 019- ANGS PERL 10/06/05 JOURNAL JOURNAL FROM ME 1TO 2 669.546.54 10/07/05 JOURNAL JOURNAL FROM TYPE 1 T02 228.73 10107/05 JOURNAL JOURNAL FROM TYPE 1TO 2 228.73 027 11.01/05113511 0D1 VIO7 ETT 8 IJ IJ 00 00 --.1 EFTA01260725 rtnuati) TWR01.0. rIS VA•DU.Y OWNED SUBSONRY CefICE SERVICING YOuR ACCOUNT Sett Stearns C . Inc. BEAR N Y Yak 10179 ~rut 20 3113.9 STEARNS FINANCIAL TRUST COMPANY INC 10 cri, STATEMENT PIIROD OCOD« 1.2005 THROW. Ocsater 31.2005 Transaction Detail (continued) acccsea roan ~a TAXPAYER ~Mk On no MISCELLANEOUS (continued) LAr nitwit ~sr 30.2øs art ØY ~ACM« OtStAIPTEN. OM Amapa CREDO AVOW 10/17105 JOURNAL JOURNAL FROM TYPE 1 TO 2 110,503.00 10.07/05 JOURNAL JOURNAL FROM TYPE 1 TO 2 110.503.00 1011705 JOURNAL FINAL REODAPTION 19,203,776.00 10/2705 JOURNAL JOURNAL FROM TYPE 2TO 1 7,775,489.70 z 1027/05 JOURNAL JOURNAL FROM TYPE 2TO 1 7.775.489.70 -n 10/28/05 10/28/05 JOURNAL JOURNAL JOURNAL FROM TYPE 2T01 JOURNAL FROM ME 2T01 112.500.00 112,500.00 TOTAL 5-33.658267.97 528.384.644.73 in z STOP End of Statemen r 96LTS£00- IA19- ANGS 027 ,:91N5Ø14 CO1 rn I 8 IJ IJ p Ja DO EFTA01260726 CLIME° /1440..0. rTS wna. O'AttO SIASCMItY OFFICE SERvICING YOUR ACCOuvr iBlialirn1 Sion*. Sem Stearns a Co. Inc. BEAR 383 Madison AVMs BrCOthlt Nal RA 11/014850 STEARNS FINANCIAL TRUST COMPANY INC STAIS1SNT PER103 $ePteatr 1.2035 YKROWN September 30.2005 ...W0 MT SWIM IIIn Iul.11..... TAxPAYEA MAWR On no LAST STATOIENT AIM= 31.2005 FINANCIAL TRUST COMPANY INC C/0 AMERICAN YACHT HARBOR ST THOMAS VI 00802-1348 O -n Pursuant to your previously issued instructions. Bear Stearns Sectaries Corp. provides duplicate monthly statements and/or Uansaction confirmations to the Wird parties listed on the cater page of this statement. If you wish to modify a cease distribution to any of the recipients indicated. please contact your C Account Executive. This reminder notice will continue to be provided to you on your quarterly statements. in Third Party 1 EPSTEIN a CO 457 MADISON AVE 4TH FLOOR NEW YORK NY 10022 r L6LTSEOCIA19- ANGS 027 100105.11 SO 001 TUe ITT 8 b.) IJ p 00 EFTA01260727 CLEAPIO ThltOttoi it s %WILY OWNED Putman CiFICE SERVICING YOUR ACCOUNT BEAR Inc STEARNS 10'79 FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE ZICHERMAN.IRA S•ATE'N.NT Pf/000 September 1, 2005 TELEPHONE MMID SeetWilber 30. 2005 VISIT OUR MOSHE wAvo.bearstraams.ccen What's In This Statement ICCOu,rt MASK - manna as HALER On Tie LAST STAITVENT ALOUtt 31.2005 Financial Summary 3 FINANCIAL TRUST COMPANY INC Yotr Portfolio Holdings 4 C/0 AMERICAN YACHT HARBOR Transaction Detail 6 0 Fund Activity Your Messages 7 9 ST THOMAS VI 00802-1348 0 m C Your Portfolio at a Glance Market Value of Your Portfolio in TOTAL VALUE OF SECURITES TN6 PERIOD 82.480.888 s when _6%5.790 S10.836.205 MONEY IAARKET FUND BAIANCE 165.790 582.488.8ED S-8.000 ENulfes- 578.392.705 5..14,000 NET mum ms PERIOD 682.636.678 OPTent POOH yatie 89.214.910 la Tau stmanwes mattat value r NET ECTUTIV LAST STATEMENT CHANGE SINCE LAST STATEMENT -6.578.232 Start market vale There are no 'Stop Loss' orders or other pending buy or sell open ceders on file for your account. 86LTS£00- 019- ANGS ruts wen a} ho, 1 owes Vett e seas. hecalk AI }MI.: eise Seven .4 Our Slum. Skulks IC glim 'Ns arra S ke ettentkallpaposys em. to rd Hence:maw coxnet. Ice unman arcane routed aar Y:✓ novas See Weld lob kr reettint altn - aem Ca, ilstaor, kles"31. C27 10t10.1 '1 LO 001 V446 8En I b.) 1,2 t EFTA01260728 CLtflO Twit01,0m ITS VMhIV CWITCO 50030111rf sow 11}01.3•19 FINANCIAL TRUST COMPANY INC 2 a .e 0 z -n STATEMENT BACKER IS PRINTED ON THIS PAGE C in z r 66LTS£00- 019- ANGS 027 1011.80401:50 001 VHS EFTA01260729 CLEARED MAL,P3.1 In VINDAY OARED IV mereRY OFFICE SERVICNG YOUR ACCOUNT rBe ial learns a t Imp Sewn Semen Cab. CC* Menace Cm* NOM BEAR t New Y New York 10179 Pew York 11201485. STEARNS FINANCIAL TRUST COMPANY INC 3 o •: STATEVEHT REMO September 1.2005 TPROUGH Septeerte 30.2005 ACCCURT 'Legate Cash Flow Analysis Income Summary tAx•Arem It Di nkfr THIS PIRD3 IRS PERIOD Yuan) Calk tat frATERENT Augnl 31. 2005 Opening Balance 30.00 Dmdends 73.541.80 1.992.305.81 Credit Balance Int. 0.00 2395.40 Money Find 11.012.745.80 Total 573.541.80 51.994.701.21 Funds Deposited 248.043.09 Divdendsamerest 80.796.00 Foreign Tax Withheld 0.00 -2.227.67 0 Amount Credited 511.319.584.89 z ii Money Fund Funds Weidman, 419.584.89 .1.000.000.00 Portfolio Composition SHORT tag C licallaneous -10.000.00100 Cash/Cash Equlralent 155.790 in Amount Debited 5-11.319.584.89 Equities 8.000 82.488.888 z Closing Balance 30.00 Total 38.000 582.644.678 Your Portfolio Allocation r 008TS£00- O19- AN0S L- [quotes 99% ~Wei Knee OM)* fate Mime mete to, mem mum nr anus PeOletlt• 0"14 fp, he 2,144/4 amen yew ei ma amble 021 l001/06.1110 COI 8 ba IJ t IJ EFTA01260730 CtURE0 Tr4.0)3., in %wage Coni.f.0 taissawre DUKE SERVICING YOUR ACCOUNT BEAR Imo( 10179 met rot n01.3859 STEARNS FINANCIAL TRUST COMPANY INC 4 3ThremexT et1000 Septrber 1.2005 THROJC01 Sermarrter 30.2005 Accattr V.A•INFI TAIMAYEA Co Fib Your Portfolio Holdings LAST STAR14.0 AKust 31.2005 CASH & CASH EQUIVALENTS WEB MIMED OSLO alumni meows. QUISTITY MKE VW/ MOM P CO I MD ea DREYFUS CASH MANAGEMENTC1 A DICICE 155,790.01 1.0000 155.790 5,297 3.4001 iNSTRIIIIONAL SHARES 0 EST, 30 DAY AVG VELD 3.6200% TOTAL CASH di CASH EQUIVALENTS $155.793 $5.297 -n EQUITIES C Equities & Options rn 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 relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 - Outperform: P — Peer Perform:LI= Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market Index. The key for the sector rating is as follows: MO — Market Overweight MW - Market Weight; MU - Market Underweight. In cases vmere a 8SC 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: $ - Sell. The ratings information contained herein is for informational purposes only and Is not intended to provide tax, legal or imestment 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 wwebearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. MST WflU [smarm 0.0:5001 COMPTON SYLISOUCUSIP TIPC OUANTIY ACE vaLC 1/101k. INCOME MD (Ml BEAR STEARNS COMPANIES INC BSC CASH 450,000 100.7500 49.387.500 450,000 0.9112 COLGATE PALMOLIVE CO CL CASH 106,200 52.7900 5.606.298 123,192 2.1974 BSC RAMS: STOCK 0/SECTOR MW TOSTS£00- 019- ANGS FULCRUM GLOBAL PARTNERS. LW RATING: B CALL CCISATE PALM NO1/055"" CLIC55 CASH -200 0.4000 -8.000 ON 11/190005 Oil 1093060130 COI MW rn I S b.) b.) t EFTA01260731 &Van rrs V0440-sr ON40.0 Statictutv ONCE SERVICING YOUR ACCOUNT Bear. Steams & Co. ku. les Stoant Socusis: lo Co BEAR New York New York 10179 stcoaSIS sew Von 11201.310 STEARNS FINANCIAL TRUST COMPANY INC 5 a 40 STATEwfh7 nano Septerrter 1.2005 noTotwa Septerrear 3o. 2005 Your Portfolio Holdings (continued) awn PIIMIOR TAYPAYER NUISER 011rb • LAST STAMM? Await St 2006 Equities & Options Dointinuec0 ACC1 WW1 ESTWATE0 CURRDR COMMON SYMIOUCU9P nx 01.11.460Y Neat SAM Waal POSSE YIE10(%) DEERFIELD TRIARC CAP CORP 244572202 CASH 1,000.000 13.8500 13.850.000 ACCREDITED INVESTORS 0 EQUITY OFFICE PROPERTIES TRUST 5BI BSC RAMC: STOCK P/SECTOR MW GREEN STREET ADVISORS. INC. EDP CASH 110,000 32.7100 3,590.100 220,000 6.1143 RATING: -n ENVIRONMENTAL SOLUMIS wiNILDwC4 INC ESWW CASH 100,000 0.6700 67.000 ip&OST FIN RAU IFPSF CASH C EUR1 laNST CL 100,000 4.4890 448,900 8.200 1.8287 rn KERNER INTERNATIONAL LTD BSC RATING: STOCK P/SECTOR MW NED DAYS RESEARCH RATING: B KR CASH 10.000 55.5500 555.500 MACK.CALI REALTY CORP CU CASH 88.100 44.9400 3.959.214 222.012 5.6075 BSC RAMC: STOCK P/SECTOR MW GREEN STREET NWISCOS, INC. RATING: H r TOO INC BSC RATING: STOCK P/SECTOR MW GARP RESEARCH RUNG: B TOO CASH 50.000 27.4300 1.371,500 VECTOR GROUP LTD VGR CASH 159,589 20.0100 3.193.376 255.342 7.9960 VANN RESORTS LTD WYNN CASH 10.000 45.1500 451.500 BSC RATING: STOCK 0/SECTOR MN WALL STREET STRATEGIES RATING: H ZOBTS£00- 019- ANGS Total Equities& Options 582.480.888 51.278.746 TOTAL EQUITIES 582.480.888 51.278,746 021 10401/06:1140 001 En I8 IJ 0.2 V; EFTA01260732 CLEARED 1141w01 Nn v•VOtrf 0,910 Suisccory OFTTCE SERVICING YOUR ACCOUNT 9ew Sion Sorb, 03, Beat Steams & Co. Inc. BEAR New York. New York 10179 07e litotatti Caviar /..bm, froofr/r. 1,97 Vom 11201.3449 STEARNS FINANCOL TRUST COMPANY INC 6 a '0 STATENENT 1111300 SiottoMbY 1.2005 1141Ctral Sexembe 30.2005 ACCOUNT KAISER TAXPAYER MASER On tie LAsT $TATOWC August 31, 2005 Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATEO ANNUAL INCOME 51.284.043 YOUR PRICED PORTFOLIOHOLDINGS 582.636.678 0 ii Transaction Detail INVESTMENT ACTIVITY rn St171.11ANT 0911 11>w C.411 TWISACTION 0130111110N $11490UCUSIP OUMMY Mb= DENT AMMO MOM wean 09/29/05 09/20/05 BOUGHT VECTOR GROUP CTO VGR 7,599 SEE NOTE t ON RACK SYRON ON 151990 585 REC 09(20105 PAY 09/29/05 AS CC 09(20105 TOTAL r DEPOSITS AND WITHDRAWALS DUI 111ANSACTION DESCRWT1314 01ST MOUNT CREPT AMOUNT 09/06/05 FUNDS REC FNOSVARED TO CITIBANK FROM 246.043.09 EOBT SEOCIN9-ANGS 027 10100.1040460 001 EFTA01260733 CtLaatO nommen ITS V643tLYWS° amso(Mv OFFICE SERVICING YOUR ACCOUNT Beer. Szeems 6 Co. Inc. B R New Yak New York 10179 STM EARNS FINANCIAL TRUST comFANy INC 7 cn: STATEMENT 02=0 Strp*MUI T. 2005 Ti4tOLOI September 30.2005 Transaction Detail (continued) IKbWI WEER TaxPAYER want On rile DEPOSITS AND WITHDRAWALS (continued) tar smmicwr Augat 31.2006 DUE TRANSACIICN DISCRPION COP MOW GREW MOAT 09112/05 FND WIRED m0A4m8078538FNDSvARED TO 1,000,000.00 S Ilk 0 TOTAL 34.000000.00 5246.043.09 MONEY FUND ACTIVITY DATE MOIMY 'WM0411011 CESOOPTIM MICAS 010=7 pe1R 0011M T CAM AMOUNT 09101/05 OPENINCBALANCE 10.836.205.12 09101/05 SOLD DREYFUS CASH MANAGEMENT-CL A DI00( W 40,000.000 1.0000 µ 10.000.000.00 INSTITOTENAL SHARES 09/01/05 DIVIDEND DREYFUS CASH MANAGEMENT-EL A DIC)0( 12.745.80 INSTITIMNAL SHARES MONTHLY DIVIDEND 09/01/05 REINVEST DREYFUS CASH mANAGEmENT-CL A DIEU 1Z745.80 12.745.80 INSTITUTIONAL SNARES ormEND REINvEsT 09/07/05 BOUGHT DREYFUS CASH mANAGEMENT.D. A DIC)0( 246.043.09 1.0000 246.043.09 INSTITUTIONAL SNARES 09/12/05 SOLD DREYFUS CASH MANAGEMENT-EL A DIOcc .1.000000 1.0000 1.000.000.00 Renn.moNAL SHARES 09/29/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A DIEM 50,795 1.0300 60.796.00 INSTITUTIONAL SHARES POSTS£00- 019- ANGS 09/30/05 CUDSING8ALANCE 155.790.01 TOTAL S-319,584.89 511,012,745.80 027 100”06.1 sc co' VS96 EFTA01260734 =ARM THROuOn ITS mai &MED SoliSCagre OFFICE SERVaiG YOUR ACCOUNT err iewer semis Bear. Steams & CO. Inc. BEAR New York. New York 10179 mope. wee Yew 201.3169 STEARNS FINANCIAL TRUST COMPANY INC summer new00 Sweeter 1.2005 mecum September 30.2005 Transaction Detail (continued) AOCOUNT WSW • TAXPAYER totite On Fie DIVIDENDS LAST STATINENT Myst 31.2005 CAR [ems:me SAIS0LaiS2P Ora! Stet In Ina MOST CREPT AMOUNT 049/29A7.5 VECTOR GROUP LTD VGR 161.990 0.4000 60.796.03 REC 09/20.05 PAY 0929.05 C) TOTAL $60396.00 0 MISCELLANEOUS z -n OAT( mom' 09,01/05 TRAKAC110N JOURNAL OESCS1PrOst TOE OE en ACM 10.000.000.00 OISIST MUNI C TOTAL 5-10.000.000.00 in z -H r SOSTS£00- 019- ANGS 027 10,01.05.11 SO 001 I8 b.) IJ EFTA01260735 CLUJ= DOOM. RE IS•CtlY OWNED SAALSOARY CfFICE.SERVCING YOUR ACCO-N- Bff1/412 ork 10179 TM 11201.1.40 STEARNS M NCIAL TRUST COMPANY INC FINA 9 a' lo STATEsell Pt /t00 SW.001W 1.2005 Soxembee 30.2005 ALMS( MAW TAXPAYER %MYR On Fie Your messages LAST STATEW%7 AtAgInt 31.2005 ma- Bear. Steams Securities Cap. Net Capital and Net Capital Requirements: fa' Securities and other assets in your account are the firm's collateral for any margin loan made to you. If the securities and other assets in your account At May 31. 2005 and July 31. 2005. the Cornpanys net capital of decline in value, so does the value of the collateral supporting your loan, and. approximately 44.1 billion and $3.9 billion was approximately 6% and 7% of as a result, the firm can take action. such as issue a margin call and/or sell aggregate debit items and exceeded the minimum regulatory net capital securities or other assets in any of your accounts held with the member. in requirement of approximately 51.3 billion and S1.1 billion by approximately order to maintain the required equity in the account It is important that you 52.8 billion and 52.8 billion. all respectively. fully understand the risks involved in trading securities on margin. these risks include the following: -n A complete copy of the Bear, Steams Securities Corp. Statement of Financial Condition is available on the web site wmv. ativety, to - You can lose more funds than you deposit in the margin account. request a free printed copy please call - toil free C - The firm can force the sale of Scarifies or other assets in your accOun(s). rn • The firm can sell your securities or other assets without contacting you. • You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold to meet a margin call. - The firm can increase its 'house maintenance margin requirements at any time and is not required to provide you advance written notice. r - You are not entitled to an extension of time on a margin call. 908TS£00- 019- ANGS 027 100/01,1150 0:01 Ill b.) IJ 00 EFTA01260736 CLVACO ThltOtS1 rts 'ASOLLY OWSED SJSSOORY OXFCC SERviel% YOUR ACCOUNT BEAR 10119 STERNS mar FINANCIAL TRUST COMPANY INC 10 sinnuen 'moo sexember 1.2005 T.4.043.4 Sereornbee 30.2006 ACCOINT MAW TAX.Verlt MAIM en Fit LAST STATEWNT Ateig 31. 200S This statement is provided to explain Bear. Steams & Co. Inc.'s cBSC) payment for order flow practices. ITar Pursuant to SEC Rule tact -E. 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 service vendors that assure executions pursuant to complex mathematical web link: http://www.bearsteams.comi. Click on Individual Investor. Cock on Equities. Click on Order Routing Practices. 0 formulas at better than the national best bid or best offer (NBB0). BSC receives no cash payment or other consideration for such order routing other Customers of Bear. Steams & Co. Inc. may request information on any order z than favorable executions or executions of limit orders at no additional charge. executed within the prior six months from the time of the request. Specifically. m 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 ciders, ci m z End of Statement H r LOSTS£00- 01D- ANGS , DD:05.11SD D31 027 VS% EFTA01260737 GLEAM° IIAMEGN FTS. WHMAY DARED EXITSS0WTY OFFICE SERVICING YOUR ACCOUNT Ow. Simms Semmes . Bear. Steams b Co. Inc. BEAR New York. New York 10179 =¢V% MR To, 1120M559 STEARNS FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTNE ZICHERMANERA STATEMENT PACO MT 30.2005 TELEPHONE TARGA/GM !AVM 31.2005 V1SR OUR WEBSRE wwebearateamscom MTh WiT WwBER What's In This Statement TAXPAYER WSW. On Foe Lam STATO.eNT At/ 29. 2C05 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Porddio Hoktings 4 CIO AMERICAN YACHT HARBOR Transaction Detai 6 Fund Activity 6 ST THOMAS VI 00802-1348 0 -n C Your Portfolio at a Glance Market Value of Your Portfolio in TOTAL VALUE OF SECURITIES THIS PEW° 78.378.705 Casr Eqvitelert 310.838.205 —r4,752,649 MONEY MARKET FUND SNAKE 10.836.205 $78.392.705 5.14000 Equ .s $80.262.825 : 5.24000 NET EQUITY DOS PERIOD $89,214,910 MN Current marker vale MI Last staterrets mwket vase r NET EQUITY WI STATEMENT OUNCE SALE LAST STATEMENT 84.991.474 4.223.436 1= Shan marte value There are no 'Stop loss' ceders or other pending buy or sell open orders on file for your account. 808TS£00- 019- ANCIS cap_ Raw • Row el them o• seccAt Atic•M Wowed no sneers is br nintord p.nmes at. e S ra bonenum. townie CI• y• --kw C.,. taw. etincr, my Wt. Mon Manw is. nevem add be mune, he yap ten See reverwiNle Ike ...Nun /Cameos W:144". 027 0901,35.13•27 007 VMS EFTA01260738 CLCAR20 D.0=0.4 ITS 79/Catv 09900 Sub=Wirt . Raven I170144M FINANCIAL TRUST COMPANY INC 0 z ii STATEMENT BACKER IS PRINTED ON THIS PAGE C in z -H r _ 608TS£00 IN9 ANGS 021 09.01.0013 2/ 091 7/395 IOStiZOO- V1.43 EFTA01260739 =WO WOVON YMOU.Y OWNED SUBSOARY OFFICE SERVICING YOUR ACCOUNT BEAR 10179 dinar moats. STEARNS maw FINANCIAL TRUST COMPANY INC AMMONT WOO My 30.2005 WOUGH Iag1M 31, 2005 ACCOMY MAW MRS Cash Flow Analysis Income Summary Das WOW MAW On OA MS WOO KLLO TVA DO DATE serr STATOJENT July 29.2005 OpeningBalance $0.00 Di/Wards 83,509.20 1,918,764.01 Crest Balance Ira. 0.00 2.395.40 Money Fund 1.052.710.20 TO1NR0UNO0 Total 583.508.20 51.921.159.41 Funds Deposited 47.71 Dividerds4nterest 30.798.00 Foreir Tie. WeJvheld 0.00 .2.227.87 MIsceIlanecuS 7.000.000.00 Amount Credited 58,083,555.91 Portfolio Composition Money Fund -7.083,555.91 %10n, LONG Funds Withdraan -1.000.000.00 CasNCash Equivalent 10,838,205 Amount Debited 5-8,083,555.91 Equities 14,000 78.392.705 ClosingBalance 5000 Total 514000 589.228,910 Your Portfolio Allocation OTSTS£00-019-ANCIS 87% Un•a30 ,,4r. <role debt bases rob Ow nate .ares akkalkn pm:nap nom re NASH. rnaftet .41. of rxv prlele C27 03.01.106.13 27 001 Vet5 EFTA01260740 ‘NEARY0 T.1101.4t1 ITS ?MOLLY °MED SLISSOar OFFICE savims YOUR A.:.!,Cur e. Steen Seaman C BEAR r New TO. 11201-SIS9 STEARNS Siti rCrk 10' 79 FINANCIAL TRUST COMPANY INC 4 <4 STATOALNT 'MOO 30.2005 THRowet &gust 31. 2005 •CCOLAYT PURSER TAWAYER NJVBEB On Re Your Portfolio Holdings LAST STATDINT lull 29. 2005 CASH ti CASH EQUIVALENTS INSET MIAMI OJRREIO OESCRIPICed SWOOLLUSP WORM' MO ma 0 PACE MA Mealid. MOW DREYFUS CASH MANAGEMENT-et A DiCxx 10,836,205.12 1.0000 10.836.205 346.759 3.2000 INSUIUTIONm SHARES 0 EST. 30 DAY AVG HELD 3.3400% TOTAL CASH & CASH EQUIVALENTS 510.836.205 5346.759 m EQUITIES C Equltlet & Options in The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the Fern'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 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 (cares: 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. r Independent. third-party research on at www.bearstearrts.com or can cal covered by the ram's research is available to customers of Bear Stearns at no cost. Customers can access this research to request that a copy of this research be sent to them. went I MMO amnia DESCARDON SIASOIXSAIIP TiPt ouume 450 PRICE YAM Walk WORE 71020 BEAR STEARNS COMPANIES NC BSC CASH moo 100.6000 45.225.000 450.000 0.9950 COLGATE PALMOLIVE CO CI. CASH 106,200 52.5000 5,575.500 123.192 2.2095 BSC RATING: STOCK OSECTOR MW VESTS£00- 019- ANGS FuWRum GLOBAL PARTNERS- LLC RATING: Et CALL COLGATE PALM NOV055 — CLKSS CASH -200 0.7000 -14.CW UP 1171912005 027 000101.131? 001 vMS rn b.) V.) LA 0 EFTA01260741 0.L•AEO /MOAN ITS wuCti. (YAWED SnoSnufre OTTCE SETNICISG YOUR ACCOUNT Bear. Steams & Co. tic BEAR trwoAt lit. Yon 11201.3859 STEARNS New Tot New York 10179 FINANCIAL TRUST COMPANY INC 5 ae STMIVENT P8000 My 30. 2006 Pup.at 31.2005 Your Portfolio Holdings (continued) Atte NT NUS TAYPAYTA Dents MT STATEWINT Ai 29.2006 Equities & Options (continued) ACC1 UMW WIPATDD COEDIT DCSCSIPPCH SYMOUCIJS• Timm PRICE MAE MAX MOW "woe DEERFIELD TRIARC CAP CORP 244572202 CASH 1,000.000 14.1100 14,110,000 ACCREDITED INVESTORS O EQUITY OFFICE PROPERTIES TRUST Ste BSC RATING: STOCK P/SECTOR MN GREEN STREET ADVISORS. NC. ECO CASH 110,000 33.3000 3.663.000 220.000 6.0060 RATING: $ m ENVIRONMENTAL SOLUTIONS WORLDWOE INC EWAN CASH 100.000 0.6700 67,000 C 'FROST FM ITAL) EURI MVST CL FPSF CASH 100.000 4.5090 450.900 8.400 1.8829 in KER2NER INTERNATIONAL LTD BSC RATING: STOCK P/SECTOR MW NED DAVE RESEARCH RATING: B Kit CASH 10000 57.0500 570500 MACK-CAU REALTY CORP CU CASH 88.100 44.0500 3.880.805 222.012 5.7208 BSC RATING: STOCK P/SECTOR MW GREEN STREET ADVISORS. INC. PANG: H TOO INC TOO CASH 50.000 26.6600 1.333.000 r BSC RATING: STOCK WSECTOR MW GARP RESEARCH RATING: B VECTOR GROUP LTD VGR CASH 151.990 20.0000 3.039.800 243.184 8.0000 WYNN RESORTS LID WYNN CASH 10.003 47.7200 477.200 BSC RATING: STOCK OISECTOR MW WALL STREET SIRATEGES RATING: H ZISTS£00-019-ANGS Total Equltles& Options 578.378.705 11.266.788 TOTAL EQUITIES 578.378.705 $1.266.788 017 0•01005.1121 001 V1•1 Tn I8 IJ -P- EFTA01260742 O.D.rtED TectOtOSH rrtt Vora. te OwertO SteSeterty OFFICE SERVICING YOUR ACCOUM BY. seWns Startles Bear. Steams & Co Inc. NC,. Vert Inman', New Yak. New Kirk 10179 SB TMI URNS FINANCIAL TRUST COMPANY INC 6 c. • frirrEtrENT PeRICO fl y 30.2005 THROLGe horpst 31. 2CC5 ACCWIT eUrrelER rfleAVrit MASER Cm ne • LAST STAvrtarai July 29.2005 Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSEST 'MATED ANNUAL INCOME 51.613,547 YOUR PRICEDPORTFOLIOHOLDINGS $89.214.910 0 z ii Transaction Detail DEPOSITS AND WITHDRAWALS C in z DAR WWI ofSCItPTION MICiltir cam mourn 08.42105 FUNDS REC FNDSWIRED TOCATIBANK FROM 47.71 GOLDMAN SAGS . CO LCT52140258800 08/17105 FNO WIRED MDARM8066054FNDSIMIZED TO 1.000.000.00 JPMORGAN CHASE BANK. NA AC739-110438 FD403421 r TOTAL S-1.000.000.00 547.71 MONEY FUND ACTIVITY GEE WHY IltURIACTICN DISCRPOZOI SMODUCIMP <Warn OCR /MUM Ca ACM maws _ OPENINGRALANCE 4.752.640.21 08/01(05 MADERO DREYFUS CASH MANAGEMENT-CL A DOM 52.710.20 KISTMATIONAL SHARES MONTHLY DIVIDEND ETSTSECIO IN9 ANGS e17 QWiC$i3D 401 yam SOStiZOO- V1.43 EFTA01260743 °sato nietyxA4 !IS MCA COW SLOODRY OFFICE SERVICING YOUR ACCOUNT BEAR Y Yrs York 10179 Os York 11101/850 STEARNS FINANCIAL TRUST COMPANY INC 7 de STARDAO PeeMO AAT 30. 2005 THRODo ANwu 31.200 Transaction Detail (continued) TAXPAYER OMER On Fle MONEY FUND ACTIVITY (continued) LMT STATOOT AM 29.2006 DATE NDdY TRNISACON GIACOMO. SOMOJCOO DENT AYOMI CADA SMOOT 06101105 REINVEST DREYFUS CASH MANAGEMENT-CL A DICA 52.710.20 52.710.20 0 INSMUTIONAL SHARES DIVDEPiD REINEST 0 060205 0611505 BOUGHT BOUGHT DREYFUS CASH MANAGEMENT-CL A INSTITUTP3NAL SHARES DREYFUS CASH MANAGEMENT.CL A DICKY DICA 47.71 30,798 1.0003 1.0300 47.71 30.798.00 NSIMMONAL SNARES m 08/17/05 SOLD DREYFUS CASH MANAGEMENT-CL A INSITUTIOTML SHARES DIM .1.000,000 1.0000 1,000,000.00 C 08131/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A DISTMMONAL SHARES DIM 7.000,000 1.0300 7,000,000.00 in 0851105 .c.BALANCE 10.836.205.12 TOTAL S-7.083,555.91 $1,052,710.20 DMDENDS r M4 08/15.05 MOOCH COLGATE PALMOLIVE CO 5.1.80uCLSP CL DOOM 106.200 ROI (SI 0.2900 DEW AMOUNT CAIDIT ISOM 30.798.00 REC 07/26/05 PAY 08/15105 TOTAL $30.798.00 MISCELLANEOUS _ DATE WOW MAOSACTON DISCRPTION OOP MOM ONO AMMO 08/31/05 JOURNAL FROM 2,000,000.00 VESTS£00 IN9 ANGS 011 01101006:1127 COI 9051,ZZOO-V.Ld3 EFTA01260744 MEOW THEOLCH ITS ?MOLLY OWNED SIALSEMEy DUCE SERvICMG YOUR ACCCUNT SINES Swains Cap. Bear. Steams & Co. Int. BEAR Coe MoreOWA Carter North NM Vol 11201.38SE STEARNS New Ye& NEW Yak 10179 FINANCIAL TRUST COMPANY INC 8 as STATEMENT nom My 30.2005 Dotoucai Mom 31.2035 Transaction Detail (continued) AGODEENI WESER MEM TAXEMER MeMBER Cri FEE MISCELLANEOUS (continued) LIST sTETTECET Ay 29.2005 DATE MOCAY TRADEACEION DESCRWD‘ 0181 MOE MOM 0841105 JOURNAL FROM 5.000.000.00 TOTAL 57 000.000.00 0 z -n End of Statement C in z -H r _ STSTS£00 IN9 ANGS 027 Ctir01,05.13 27 001 NUS LOStiZOO-V.L.43 EFTA01260745 IT Fawn ONTONCo ITS %%POLLY OWNLO SURSOARY OFFICE SERVICING YOUR ACCOUNT Beat. Steams & Co. Inc. BEAR Nw work 10179 Dar York 11201-3450 STERNS FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTNE ErlIERMAN.IRA STATDAENT POMO July 1.2005 TELEPHONE neovom HQ 29. 2005 VISIT OUR MEM weebeanteoms.com ACCOUNT NUNSER 11111111111111116 What's In This Statement IIIIIIII el II TAXPAYER POSER On Tie LAST STATEIThrt Juno 30.2005 Financial Summary 3 FINANCIAL TRUST COMPANY INC Yotr Portfolio Holdings 4 C10 AMERICAN YACHT HARBOR Transaction Detail 6 Fund Activity 7 C) ST THOMAS VI 00802-1348 -n C Your Portfolio at a Glance Market Value of Your Portfolio in TOTAL VALUE OF SEOJRRES THIS PERIOD 80.238.825 CFI14 base — 54.752j9 533.000.694 MONEY MARKET FUND BALANCE 4,752.649 380.262.825 : 5-24.000 Nene a II 355.972.676 NET EQUITY TM& PERM $84.991.474 Current mete Tete IIIII List staterneres mete vaLt r NET EQUITY LAST STATEMENT CHMGE SINCE LAST STATEMENT 88.973.570 -3.982,096 I=I Shoe MAO sat There are no 'Stop Loss* orders or other pending tvy or sell open orders on Ede for your account. _ TESTS£00 IND ANGS C'R.W. Ofn lint ;Cc/chew o %NON Id0W de eTIPene Teo Tie Tammy osomekew &one COX X le PM Tenn SD ,5-I *Onto ITC CVO. a Teo DT Cleo Sorest al Sear Son St nYis ilatoont 51010 be ramie kr Deur WOOD Set moss — AY Wend Smear, SIStOpn 11?0•4164 027 07/300OlOCO CO, 1895 8051,ZZOO- V1.43 EFTA01260746 CLEARLO Ritetral RS %MOLLY aMCD SUSSOVOY Ych 11201.3859 RYANCIAL TRUST COMPANY INC 2 z m STATEMENT BACKER IS PRINTED ON THIS PAGE ci m z H r LTSTS£00- 01D- ANGS 021 070005:1009 C01 0125 EFTA01260747 WARED 7118CP.04 frS WMOLLY OnNy taa7CIARY OFFICE SERVICING YOUR ACCOUNT BEAR on 20 4859 STEARNS MS * 10179 FINANCIAL TRUST COMPANY DC 3 ce STAIIIN7.7 PC87C0 My 1.2005 TNROU07I .9/7 29.2006 AtC01.1.47 NVINER Cash Flow Analysis Income Summary TAXPAYER NJIMIR On FIN 1715 fl INS HMO YEAR To an LAST ST.Obleti Ant 30. 2005 OpeningBalance 50.00 Dhidends 679,673.05 1.835.255.81 Credit Baton= it 81.77 2.395.40 Securities Sold 1.160.186.47 Total 5679.754.82 51.837.651.21 Money Find 30.256.439.25 Funds Deposted 91.655.92 Foreign Tex Vittrtheld .2.227.87 -2.227.67 0 DiadendsAmerest Miscellaneous 581,335.41 512.591.00 ii Amount Credited $32.602.208.05 Portfolio Composition SHOW Ipp Societies Bop -26.56.5,005.00 Cash/Cash Wain 4,752.849 in Money Fund Funds WIttckawn -1.909.975.38 -4.125.000.00 EONS 24.000 80,262.825 Miscebneous .2,227.67 Total 524,000 585.015.474 Your Portfolio Amount Debited 5-32.602.208.05 Allocation ClosingBalance 50.00 r _ [gut= 94% WESTS£00 IN9 ANGS ewer :cite". Ono cote tabula NAV 001 natal wive( Tr0 abtASY, Necansp entoN Km to Smola MAI( Mad yaut p7r0:47 027 07/3005 10C9 C01 V895 0 1StiZOO- Vida EFTA01260748 CLEARED 11.00..Cm ITS OWNED samovar °rites SERVICING YOUR ACCOUNT Sew Sisier• Smnion Bear. Steams 8 Co. Inc. BEAR .cek 'tort 10179 New a R]41 STEARNS FINANCIAL TRUST COMPANY LNC 4an STATELINT 21010:2 My 1. 2005 n'0000.4 My 29. 2035 Areeyeer NIAMER TAX0,04.0 %WAR On rib Your Portfolio Holdings LAST STATE1.047 Arne 30. 2005 CASH & CASH EQUIVALENTS IM OD 13111.01D sawn OLSCRCI102. TOMOLAXG. OUANTITY Ma VALUE Mona MOIR TEM 09 DREYFUS CASH MANAGEMENT-CI. A OIC/Ct 4.752.649.21 1.0000 4.752.649 137,827 2.9000 INSTM.MONAL SNARES 0 EST. 30 DAY AVG YIELD 3.20006 TOTAL CASH & CASH EQUIVALENTS 54.752.649 5137.827 -n EQUMES C Equities & Options rn 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 relative to the other stocks covered by that Analyst. The key for the stock rating values is as folivris: 0 Outperform: P = Peer Perform: U Underperiorm. 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 UndenveigM. In cases where a BSC rating is present. the name of an independent Mid-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 thid-party research provider. The symbol indicates that continuing coverage or the subject company is temporarily not available due to legal reasons. r IndLi.,....1eut. third-party research on certain at vnwz.bearsteams.com or can call nies covered by the firm's research is available to customers of Bear Steams at no cost. Customers can access this research to request that a copy of this research be sent to them. ACCT UAW (SWAYED CURRD0 OescerKei 511499-ranie not OumTUY mai mat maws mow yea 09 BEAR STEARNS COMPANIES INC BSC CASH 450,000 102.1100 45.949.500 450.000 0.9793 COLGATE PALMOUVE CO CL CASH 106,200 52.9400 5.622.228 123.192 2.1912 IISC RATING: STOCK 045ECTOR MW _ FM-CRUPA GLOSM PARTNERS, tLC RATING: H CALL COLGATE PALM NO4055" - CLEM CASH -200 1.2000 .24.000 UP 11119/2005 6T8TS£00 IN9 ANGS 027 07/200&1000 0101 Yet4 I I StiZOO-V.L.43 EFTA01260749 CLEARED 9105,-CH n5 WMCLLY Doren SLIISCl555 OFFCE SERVICING YOUR ACCOUNT mBear St arn ili Inc. BEAR New York New York 10179 Yrn 11201.31151 STEARNS FINANCIAL TRUST COMPANY INC 5 e4 9 STA5Eldea PE*90 July I. 2005 nnter$5.4 Juts 29.2005 Your Portfolio Holdings (continued) ACCO,Xf MA MIS •NEPAYER MAIM On Flo v r7 ETAYncr lyre 30,2005 Equities & Options (contimed) A T WAILT 13mAtter ECM OLSCRPTION MATOuCuSr me teary 942 VITAE MMMI la MOD MI DEERFIELD TRIARC CAP CORP 244572202 CASH 1.000.000 14.6400 14.640.000 ACCREC(TEO INVESTORS 0 EQUITY OFFICE PROPERTIES TRUST Sal BSC RATING: STOCK FYSECTOR NW GREEN STREET ADVISORS. IC. RATING: H EOP CASH 110.000 35.4500 3.899.500 220,000 5.6417 -n ENVIRONMENTAL SOLUTIONS WORLDWIDE INC ESVAV CASH 100.000 08200 82.000 C FILQST FIN ITAL) CURT INVST CL IFPSF CASH 100.000 4.4860 448.600 8.200 1.8279 rn KERZNER 941ERNATIONAL LTD 85C RATING: STOCK PRECTCR NED DAVIS RESEARCH RATING: 8 KEL CASH 10,000 59.7500 597.500 MACK.CAIJ REALTY CORP CU CASH 88.100 47.9100 4,220,871 222.012 5.2599 SSC RAMC: STOCK PRECTC4t INI GREEN STREET ADVISORS, INC. RAMC: B TOO INC TOO CASH 50.000 25.7900 1.289.500 r BSC RATING: STOCK P/SECTC* WIN GARP RESEARCH RATING: VECTOR GROUP tT0 VGR CASH 151.990 19.4100 2.950.126 243.184 8.2432 WYNN RESORTS LTD WAIN CASH 10.000 56.3000 563.000 BSC RATWG: STOCK &SECTOR MW WALL STREET STRATEGES RATUG: II ONTS£00-019-ANGS Total Equities& Options 380.238.825 11.266,588 TOTAL EQUITIES 380.238.825 11.266,588 021 moos moo col vies EFTA01260750 CLEARED THROuei ITS vatar ove4tO asocure CfilCE SERVICING YOUR ACCOUNT Bear, Steams & Co. he. put SIESIIIIS Seca. frog BEAR New York New York 10179 Nov in 1201 3459 STEARNS FINANCIAL TRUST COMPANY INC 6 or STARMISIT mem lull 1.2005 TheiCtrA4 July 29, 2005 penNurn nutatert tvolv.vER hvusER On FIc LAST sminer June 30 2005 Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATE0 ANNUAL INCOME 51.404.415 YOUR PRICEOPORTFOLIOHOLDINGS S84.991.474 0 ii Transaction Detail INVESTMENT ACTIVITY C in WE litAbt DATE TPANSCRON eacieenew SnaKveusw CILWITITY Pict DEW MOUNT CPS( NAOMI 07119105 07/14/05 BOUGHT BEAR STEARNS COMPAMES INC BSC 250.000 106.20000 26.585.005.00 BEAR. STEARNS & CO. INC. IS A SUBSIDIARY OF THE ISSUER. 07/19105 07118/05 SOLD CALL COLGATE PALM NOVI:155'm %V55 -200 1.00300 19.394.16 11/19/2005 UNSOLICITED r 0712105 07/18105 SOLD ORDER EXECUTED BY ISE OPEN CONTRACT CELGENE CORP CELG -25.000 45.63380 1140.792.31 UNSOUEITED WE MARE A ma IN DRS SECURITY AYG PRCE: DETAILS ON REQUEST UNIT PRICE 45.693800 DIFFERENCE - 0.060000 TOTAL 5.26.565.005.00 51,160,186.47 TZSTS£00- 019- ANGS 091 07400300,0 DOI von IJ IJ EFTA01260751 CLEARED ThltOufsm meOur C*Voiel) SueSeolef OFFICE SERVCING YOUR ACCOUNT Beet, Swams 6 Co. Inc. Ilea Swerna Sear*. k BEAR New York. New York 10179 leociton. ALTAR at 2014659 STEARNS FINANCIAL TRUST COMPANY INC 7 C1 STAYS/EN' neon hay 1.2005 TF-AVJCIM Jul; 29. 2005 Transaction Detail (continued) ACCCI.N1 'AJMER TAXPAYFA MASH On fie DEPOSITS AND WITHDRAWALS LAST STATIVENT June 30. 2005 MOISACTIV OtSCOODON OM AMOUNT CitC0 NWT 07/01/05 ENO WIRED MDAPA030395331NDSWIRED TO 3,125,000.00 O MN O 07106105 FUNDS REC ENDSYARED TOCRIBANK FROM 91,655.92 MOO C° Z 07/28/05 FNO VARED MDA$M4053064FNDSWIRED TO 1.000.000.00 n TOTAL $.-4,125.000.00 $91,655.92 0 MONEY FUND ACTIVITY M OM 1.030A? efteeEnCeel Manx SYMBOU0.190 000fine MMKf OM MOM? 09311 MOUNT 07/01/05 OPENINGBALANCE 33,000,693.67 H 07/01105 SOW DREYFUS CASH MANAGEMENT-CL A DIO0C .2.612.409 1.0000 2.612.409.00 MSTRIADTIAL SHAMS 07/01/05 DIVIOEND DftEYFUS CASH HANAGEMENT.CL A oica 96.419.41 INSMUMNAL SHARES ACHIM DIVOEND 07/01105 REPIVEST DREYFUS CASH MANAGEMENT.O. A coca 98.419.41 9%419.41 INSITIUMNAL SHARES OIVIDEND REINVEST _ 07/08/05 BOUGHT DREYFUS CASH IAANAGEMENTCL A DICK( 91,655.92 1.0000 91.655.92 itsnrtnteat SHARES 07/15/05 BOUGHT DREYFUS CASH IMNAGEMENT.O. A DION 61,022.97 1.0300 61022.97 RaTiTurnata SHARES ZZST SEGO IN9 ANGS 911 07/30.0t10o9 col yam t I StiZOO- V1.43 EFTA01260752 CEERRED THY`JJGH rt8 WIDXIN On9ED EmbSiDtARY OFFICE SERVICING YOUR ACCOUNT 8Da Steigns 58.5otas . Dem. Stearns & Co. Inc. BUR New York. New Tot 10179 toncon85 PCS Yon 11101.3859 STEARNS FINANCIAL TRUST COMPANY INC SIAMM noon Ain 1.2005 wROLGH fil1f 29.2005 Transaction Detail (continued) ACCOV8T WvIDER TAXPAYER µAYR On Ede MONEY FUND ACTNITY (contrived) LArr STATEMENT Juno 30.2005 DATE 1100AY 1TRAISAC11011 DESOIPTION SYTAICLCAtir Cooany PRICE DUD MOLINE MOD AVOW 07/18/05 BOUGHT DREYFUS CASH AAANAGEPAENT-Cl. A DUO 405,503 1.0000 405,503.00 RISTIRRENAL SHARES 07/19/05 SOLD DREYFUS CASH IMNAGEMENT41A DION -26.545.610.84 1.0003 26.545.610.84 0 07/21105 BOUGHT RISMUTD/LAL SHARES DREYFUS CASH MANAGEMENECL A INSTITUTIONAL SHARES 01:a 1,140,792.30 1.0000 1.140.792.30 -n 07/25/05 07/28/05 BOUGHT SOLO DREYFUS CASH MANAGEMENT-a. A ReaTrimONAL SHARES DREYFUS CASH MANAGEMENT-CL A DCM DI 00( 81.78 -1.000.000 1.0000 1.0000 81.78 1.000.000.00 INSTITUTIONAL SHARES C in 07/29/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A Mauna/AL SHADES DICC( 112.500 LC= 112,500.00 z 0729/05 TOTAL CLOSINGBALANCE 4,752,649.21 5-1.909.975.38 530.256.439.25 DIVIDENDS r DATE DESOIIPTDDN InAllOACURP WARM ItA71 DEW AMCOR! CREDIT MOM 07/14)05 nese FIN 'TAU IFPSF 100.000 0.0683 8,250.84 EUR tria CL 11/11 2.227.67 REC 07/13/05 PAT 07/14/05 EAT CONIC RATE: 01,20000 FCROGN TAX MIHHELD _ 07/15/05 DEERFIELD TRIARC CAP CORP 244572202 350.000.00 ACCREDITED INVESTORS RD 06/22 PD 07115 RT .35000 CSH DIV ON 1000000 5115 CR 745-05 ON R-D 6-22-05 E ZST SEGO IN9 ANGS 027 0713005:10.09 COI qIS SI StiZOO-V.L.43 EFTA01260753 =CARGO /14ROJCP4 Y*0 OANCO &AMOUR. OFFICE SERVICING YOUR ACCOUNT BEAR N at 11201.3859 STEARNS York 10179 N FINANCIAL TRUST COMPANY INC 9 as STAMM:I PERM AMY I. 2005 TIAOUON lay 29. 2005 Transaction Detail (continued) ACCOUNT 4UYININ =Ea TAXPAYER Romig OnM DIVIDENDS (cominuen IASI trmarkra Poe 30.2005 an CfSCRIMICM SEIMOLAIIMP CALMIRY flit (5) COM AMOUNT CMOs AIEUNT 07)15/05 EWEN OFFICE PROPERTIES TRUST FOP 110.000 0.5000 55.030.03 REC 0600/05 PAY 07/15/05 0 07t18705 07/29/35 MACK-CALI REALTY CORP REC 07/06/05 PAY 07/18M5 BEAR STEARNS COMPANIES INC CU BSC 88.100 450.000 0.6300 0.2500 55.503.00 112.500.00 REC 07/19/05 PAY 07/29/05 -n TOTAL 5.2.227.67 5561.253.64 C INTEREST rn EWE OESCRP110% SYMEKNOJEW CLAMMY VIE PA DWI MAIM CRUM MJ4IT 07/21TOS INTE DU BALANCE 81.77 AT 0 . a 1 07/20 TOTAL 581.77 r MISCELLANEOUS Can MOW MEIESACTON MISCIIIMIOEs OM MOW CREW soma 07101)05 JOURNAL EROS 151.250.00 0701/05 JOURNAL FROM 361,341.00 _ TOTAL $512.591.00 VZST SE00 IN9 ANGS On OIC3C05.10MO 001 MOS 9I Chi-COO-V.83 EFTA01260754 GEARED DIR0VDDI ITS nie“LY OWNID SulteeDVJef OFFICE SERVICING YOUR ACCOUNT Bear. Steams 6 Co. Inc. BEAR II I cI Mi . 859 STEARNS New York. New Yore 10' 75 FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE DCHERMAN.M.A SDATEMEWD Kam Are 1. 2005 TELEPHONE natousm lane 30.2005 War CUR WEBSITE wenv.boarstoarns.cm7 cover rat4DER IM= What's In This Statement I II IIII II 'Hill SWAYED Wad On Fit user STATEMENT May 31.2006 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio NOIBIngS 4 C/0 AMERICAN YACHT HARBOR Transaction Detail Fund Activity 7 QUAVERS 42 ST THOMAS VI 00802-1348 Your Messages 0 m C Your Portfolio at a Glance Market Value of Your Portfolio Confirmation: Unless we hear in TOTAL VALUE OF SECURRES THIS PERO° 56972.876 Cash a Eqpkelent 131000.691 350.672.901 from you to the contrary. it is cur uncterszanong that any free credit balances in your MONEY PAARNEE FUND IMIANCE 33.000.694 555.972.976 account are being maigaineo Weis 553.792.272 to faeltate your intention to insect Such amounts through IC mourn THIS PERIOD 288,973,570 Conant market %eta Stmenscots market Yak* NET EQUITY [AST STATEMENT 104.665.173 r CHANGE SINCE LAST STATEMENT -15.691.603 There are no 'Stop Lose orders or other pending buy or sell open orders on file for your account. SZSTS£00- 019- ANGS SIE Pas rival ra alearee et eaDveeta epos mars Neal a 0~00 es,. IND wary le a, reematotil WPM. DID ea rat alfled VS E tal accusers 1$ ewer le Owe Senor a ear. San Sonars 75s etteentte Waal De retinal fie Dar refl See reveler. tee nvaun renewer Cop. Oncetee. NV. 112014** 027 ele:nOSID 42 e01 rn I S IJ IJ EFTA01260755 CISARED TWICO0K ITS WH0U. 13.13SICalre ONIMININIS disitot 11101.3359 FRANCK TRUST COMPANY INC 2 et s O -n STATEMENT BACKER IS PRINTED ON THIS PAGE C rn z -H r _ 9ZSTS£00 N19 ANUS 017 07331/05:1042 071 11193P 8 I chiZOO- Vida EFTA01260756 CtIARID ricnC240. 'TS Ouy Ov.413 VASPARy OFFICE SERvide4G YOUR ACCOUNT ci on sa SieenliSeCutets t. Bear. Stearns & Co. Mc. BEAR 10179 * 01. 711". NOR VOA 112014159 STEARNS New Yak New Tart FINANCIAL TRUST COMPANY INC 3 aa STATEY₹147 Putoo Jiro 1.2005 11411 0.117.1 lire 30. 2005 AtCOLI27 1cAMIRR Cash Flow Analysis Income Summary The TAXPAYER ,oaa Cant lie POMO wmtepot LAM suabeff Wry 31.2005 OpeningTialance 50.00 DMdends 125.485.69 1.155.582.76 Credit Bakende M 0.00 2.313.63 Money Fund 18,079,47138 Total 5125.485.69 51.157.896.39 Cohidendennterest 60796.00 Miscellaneous 2.306.97 Foreign Tax Withheld 2.306.97 0.00 0 Amount Credited 518.142.574.35 ii Money Fuld Funds Wthdrwan -134.030.02 -18.000.000)30 Portfolio Composition Cash/Cash Folivelent 33.000.694 Diudendsfinterest Charged .8.544.33 C Equkies 55.972.876 in Amount Debited Closing Balance $-18,142,574.35 $0.00 Total 588.973.570 Your Portfolio Allocation r _ (quilts 62% LZST SEGO IN9 ANGS ElAroled orlon Oexio OWE :ono. "tee WI naive •a '7• getealin - dad, ken Vo oeuipto Atrial ..A. cold. 027 0/1011)21042 001 veaav 6I StiZOO- V1.43 EFTA01260757 cameo DROSS". ITS VROLLY OWNED SUSSESARY OFFICE SERVICING YCOR ACCOLne BEAR Mir immeilsor Yen 1I 201.3.459 liCTT 1C'79 STURNS FINANCIAL TRUST COWART INC 4 STATEMENT PER,C0 AAP 1. 7005 nsiescia am 30.2005 ACCOLW SWISS IIIMMISOP2 TAXPAYER WISER Cin File Your Portfolio Holdings LAST STATTAILST way 31. 2005 CASH & CASH EQUIVALENTS IIASSIT (SWARD CURREN! TO1NR0UNO0 ',escapees SITAIOCASTSP 0.Inery PRICE VW( AMIUM. WOW 110.0 fO DREYFUS CASH MANAGEMENT-CL A DICCE 31000693.67 1.0000 33.000.694 957.020 2.9000 INSTMMONAL SNARES EST, 30 DAY AVG TEED 3.0400% TOTAL CASH & CASH EQUIVALENTS $33.000.694 $957.020 EQUMES Equities & Options The research ratings for Bear Stearns (BSC) are shown for °erten 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 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, %here such research is available. The various providers have normalized their ratings systems as follows: B Buy: H — Hold: S Sell, The ratings alternation 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 cc opinion expressed by any independent, tnirtl-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 catered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at vnwz.bearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. [ARRAS', UMW casounieri SAABOU0.444 R 200.000 0umami PDX WSW VAWE AXIOM MOW YEW BO BEAR STEARNS COMPANIES INC BSC CASH 103.9400 20.788.000 200.000 0.9821 CELGENE CORP CRC CASH 25.000 40.7700 1.019.250 esc RATING: STOCK WARRIOR MO 8Z8TS£00-019-ANCIS ARGUS FUNONAENTAL RESEARCH RATING: B 027 07.47105:10 42 OM flew EFTA01260758 CLIMES neucn is VniCLLY °NCO SLISICIART OFFICE SERVICING YOUR ACCOUNT OasT IrbTxs 'metes T. Bear. Stearns & Co. Inc. BEAR Now York New Ycek 10179 off. Sep Ten 112014S59 STBMINS FINANCIAL TRUST COMPANY INC 5 al l STAMEN' SER,00 kine 1.2006 THSOLKIN lune 30, 2005 Your Portfolio Holdings (continued) ingnir 'owlet /Amy°, to.nteot On Fie LAST STATDANT May 31.2005 Equities 8 Options (continued) ACTA WIRY WW1° CURREM DESORMON MVP:CUSP MI OUANINT Piet µADS MOM.WE YEW 00 COLGATE PALMCANE CO CL CASH 106.200 49.9100 5.300.442 123.192 2.3242 BSC RATING: STOCK 0/SECTOR MW FULCRUM GLOBAL PARTNERS. LLC C) RAMC: H DEERFIELD TRIARC CAP CORP 244572202 CASH 1.000.000 15.6900 15,690.000 ACCREDITED INVESTORS -n EQUITY OFFICE PROPERTIES TRUST EOP CASH 110.000 33.1000 3.641.000 220.000 6.0423 SEll BSC RATING STOCK P/SECTOR MW GREEN STREET ADVISORS. INC. PATIN: S C ESWW CASH in ENVIRONMENTAL SOLUTIONS 100,000 0.9000 90.000 WORLDWIDE NC IFt(TST FIN RAU FPSF CASH 100.000 4.2010 420.100 8.200 1.9519 EUR1 INVST CL KERZNER INTERNATIONAL LTD CASH 10.000 58.9500 569.500 SW RATING: STOCK P/SECTOR INN NED DAVIS RESEMOI RATING: IVACX-CAU REALTY CORP CU CASH 88.100 45.3000 3.990.930 222.012 5.5629 r SSC RATING: STOCK PSECTOR MN GREEN STREET ADVNORS. MING: B TOO INC TOO CASH 50.000 23.3700 1.168,500 BSC RATING: STOCK P/SECTOR MAY GARP RESEARCH RATING: IS VECTOR GROUP LTD VGR CASH 151.990 18.5700 2.822,454 243.184 8.6160 MISE00- 019- ANGS 021 0701,05.1042 001 1991, IJ IJ IJ EFTA01260759 CLEnt2D Nankin...4 RS ails/enc. nnOur ove.40 SUILS0ar OFFICE SERVICING YOUR BEAR ilialliork 10179 IONS ainiiren 11201.1669 STEARNS FINANCIAL TRUST COMPANY INC 6 d6 STATELENT PERM la 1.2005 THROXim It. 30, 2005 Your Portfolio Holdings (continued) ACO:t.ta mainn WPM= KAMER On File LAST STAWANT May 31.2005 Equities Si Options konfax•HO ACC WART tram= CURRENT comma SYSIOUOSP TiM gNIUIY PRIM VALIX utast IKCIAIE YEW NI WYNN RESORTS LID WOW CASH 10.000 47.2700 472.700 STOCK OISECTOR NTH BSC RATING: STRA WALL STREET TEGES RATING: H Total ECIllitieSb Options 555.972.876 61.016.588 TOTAL MIMES 555.972,876 $1.016,588 z -n YOUR PORTFOLIOHOLDINGSESTIIAATED ANNUAL INCOME $1,973,608 C YOUR PRICED PORTFOLIOHOLDINGS 588.973.570 rn z Transaction Detail DEPOSITS AND WITHDRAWALS r DAR TRANSM1011 013CR•13.4 Mr MOM Ottorl Mann 06/14/05 FND WIRED AADAam6022611FNDSwIRED TO 18.000.000.00 TOTAL 5-18.000.000.00 OESTS£00- 019- ANGS 027 0701.05.1642 00I 511193IP IT1 8 b.) IJ 147 IJ IJ EFTA01260760 CLCARED TWROVGH OS vmOuLA OWNED PAPACcasy °Fitt sotsnom YOUR ACCOUNT Beat Slear StaviSts Bear. Steams & Co. Inc. BEAR IftoOr. Nero at 20 -NM STEARNS New York New York 10179 FINANCIAL TRUST COMPANY INC 7 ae STATEIIENT OMOD JunJET151, 2005 IHROuOn kap 30.2005 Transaction Detail (continued) acccura µAMR TAAPAYM KAMER 011 Pb MONEY FUND ACTIVITY tar /Amer. Min 31.3305 OE NOMA litaA6AGTICAT eaCreelar sysituCUSIP amen. PUCE OEM MACONI MUIR ST 06/01105 OPENINGBALANCE 50.872.901.01 06/01.05 DNIDEND DREYFUS CASH MANAGEMENT-CL A 0IC 73.234.02 MSTM.MONAL SHARES MONTHLY OMOEND 06101/05 REINVEST DREYFUS CASH MANAGEMENT-CL A CCM 73.234.02 71234.02 -n 06/14/05 SOLD MSTITUDONAL SNARES OMDEND REINVEST DREYFUS CASH MANAGEMENT-CL A DIMOC 48,000.0® 1.0000 18.000.000.00 MSIMMONAL SHARES C rn 06127/05 Deans SOLD BOUGHT DREYFUS CASH MANAGEMENT-CL A eanTUriOnAL SHARES DREYFUS CASH MANAGEMENT-CL A DIC:Of DIMOC 4.237.36 60,796 1.0000 1.0000 60796.00 6.237736 INSTITullOwd. SHARES 06/30/05 CLOSINGBALANCE 33.000.693.67 TOTAL S-134.030.02 518.079.471.38 r DMDENDS OATS GUMPTION symmucuse GuANTriv RATE CV DWI AYOUNI CRAM MOM 06/24/05 'MIST RN TIM.) 'NSF 8,544.33 EURI iNvsT CL RD 0925 PO 0926 RT .06830 TESTSEOCIN9- ANGS CSH DIV ON 100033 SHS REV REVERSE DIV OIL AS PER AGENT 27.00% TAX as 0701/06:1042 OM NOW EFTA01260761 CLEANED 7144tOUGst its wuCsoi ONNF-0 SoisOCIARY OFFICE SERVICING YOUR ACCOUNT BEAR alit04 10179 i VL 11201.3850 STEARNS FINANCIAL TRUST COMPANY INC ST:TF ouctOIT P4,00 Ate 1. 2005 TH Itre 30. 2005 Transaction Detail (continued) ACCOUNT NNW SW Tara, µapt On Flo DIVIDENDS (continued) LAST STATE:ea May 31.2006 0Alt OCSITRIPTO1 $61110.61.06. OSOCITY 211L (3) 04231 NOM 06011 06/29/05 VECTOR GROUP LTD vGR 151.990 0.4000 60.796.00 T4iNROUNO0 KC 06/20/05 PAY 06/29/05 TOTAL 5.8.54 4.33 360.796.00 MISCELLANEOUS OAF WOOAT TRANSCVON CCSOISPTON COO AltuTT CR1OCS 04/010.7 06/24/05 )0URNAL IFIL(1ST FIN DAL) 2.306.97 EMT MST CL RD 05/25 FO 0926 RT .27000 DIV/ra NRAD REV REVERSE Of2 01 AS PER AGENT 27.00% UM TOTAL $2.305.97 Your messages Steams receives payments or other remuneration from the advisers, WS' Bear distributors or other affiliates of certain of the mutual funds available through Bear Steams. Such payments or remuneration are for administrative. technological or ether services provided in connection with fund accounts and ZESTS£00-019-ANCIS are generally calculated based on the amixint of assets held in the accounts. Such payments or other remuneration are in addition to shareholder servicing and distribution fees that Bear Stearns may receive. Funds whose affiliates do not make payments to Bear Stearns, including funds that may pay a higher or lower retrn. may be available to you. 027 07/01.01.10 42 001 NOW EFTA01260762 WARM TROCAKAI fl waxy Owe SUSSOLMte CADGE SERVICING YOUR ACCOUNT Nat Means Stones Bear. Steams & Co. Inc. BEAR New York New York 10179 . Passr ca 001 LiMg STEARNS FINANCIAL TRUST COMPANY INC ACCOUNT DECUTNE ZICHERMAN.IRA STATEMENT PERMS) Awl 30.2005 TELEPHONE THROW.P4 May 31.2005 VEIT OUR %WROTE wwAbcarsteams.com A4C0..str Arian What's In This Statement I.I...Iliillirliillril, TAXPAYER Hung On Fee LAST STATEMENT Awl 29. 2005 Financial Summary 3 FINANCIAL TRUST COMPANY INC You Portfolio Holdings 4 GO AMERICAN YACHT HARBOR Transaction Detail 6 Fund Activity 8 ST THOMAS VI 00802-1348 0 -n C Your Portfolio at a Glance Market Value of Your Portfolio in TOTAL VAUJE OF SEOJRITES THIS PERIOD 53.792.272 CaSh A Env/alert 518.4 60.998 sso.nacin MONEY MARKET FUND BALANCE 50.872.901 553.792.271 554.279.920 Mn EQUITY TWOS PERIOD $104.665.173 CAMPS Mallet %ue NET EQUITY LAST STATEMENT 72,740.918 Ell Leg Augment& TOW vaam r CHANGE SLICE LAST STATEMENT 31.924,255 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. EESTS£00- 019- ANGS Res icier. ins awes a swim Mdama As essal we Wieners 111Y11011791100111P11:010$ Pry. n PI tillided as am CIALLSMII welt le cow lento. Y amp Man Satan file This stamen Mold se egad Rs Roo men Sat eP4Pse A60 b ematart IsNantlion Co, Saithis. PLY. IMMO% OPT 0601060903 COI b.) IJ Tn IJ Ln EFTA01260763 CLEARED TIMIXIMI ITS VOOLLY MIMEO SLIMDARY susfan sidt I1201.3ESE FINANCIAL TRUST COMPANY INC 2 0 z m STATEMENT BACKER IS PRINTED ON THIS PAGE ci m z H r VESTSEOCINDANGS 027 ODOLOSMIDO OM VETS 8 IJ V.) In L.) a EFTA01260764 GUAM TAROLENT ITS v4Csy OmMD SUSSEVAY OFFICE SERVICING YOOR ACCO.INT Bear. Stearns & Co. Inc. BEAR swap. the Mt 11201045a STEARNS New York. New Ycrk 10179 FINANCIAL 1RUST COMPANY INC STATEMENT or.OD April JO 2005 TAPOLOAI May 31.2505 ACCONO MAW Cash Flow Analysis Income Summary EmPAYEA IM On Fie MS PESSCO TEAM IODATE MS POMO LAST STATEMENT Aga 29.2005 Dividends 314.84752 1.030.097.07 OpeningBalance 50.00 Credt Balance Int. 3.72 2.313.63 SecuraJes Sold 1.766.991.00 Total 5314.851.34 31.032.410.70 Money Fuld 16.582.154.21 Foreign Tax Withheld -2.306.97 -2.306.97 Funds Deposited 47.654.397.59 0 DwideNsAnterest 264.346.05 Amount Credited 586267.878.85 ii Securities flour -72.020.00 Portfolio Composition Cash,Cash Equivalent 50.872.901 Money Fund -48.943.551.88 Equities 53.792.272 C rn Funds 1Mthdrthm liacellantrous -18.250.000.00 .1.002.306.97 Total 5104,665.173 Amount Debited 3-68.267.878.85 Your Portfolio Closinolieltexe $0.00 Allocation r Cash b Eaunale Fortes 49X 51% SESTS£00- 019- ANGS u.•+ae ;awe. edam Not marAN•M•ht E.T.A ,Mn. 1M McAmo. pro•NAN AMA", ANT 0. .mw nine' Nan Al "Ur vcrIAN 027 or.tlos 0901 001 ve7S EFTA01260765 Waft, 1700204 CTS 070,47 0044:0 SultitIXAMI OFFICE SERMCING YOUR ACCOUNT Bear. Steams & Co. Inc. But Slam Searbes Cap BEAR AMPIPIJIMIS STEARNS FINANCIAL TRUST COMPANY INC 4 uric 572rnirseT 701,00 30.2205 n00444 ?An 31.7005 ACCOWT hinalte Tams. N.MM Pi n Your Portfolio Holdings LAST STAT000 Apc2 29.2005 CASH & CASH EQUIVALENTS Waal MN= CUMIT otscrunam SYISC442147 04a071 eN L YAWL Nang WWI 00.0 00 DREYFUS CASH MANAGEMENT-CL A DIC0 50,872,801.01 1.0000 50,872.901 1.322.695 2.6000 INSTITUTIONAL SHARES O EST. 30 DAY AVG YIELD 2.9000% TOTAL CASH & CASH EQUIVALENTS 150.872.901 51.322.695 -n EQUMES C Equities & Options in 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 stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 — Outpedomp P = Peer Perform; U - Undeperform. The second rating represents the rating of the coverage universe relative to the regional broader market Index. The key for the sector rating Is as follows: MO . Market Overweight MW . Market Weight: MU = Market Underweight. In cases where a BSC rating is present. the name of an independent. third-party research provider and their rating may also be displayed. where such research Is available. The various providers have normalized their ratings systems as follows: B ir 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 infrmatIon, 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 Stearns at no cost Customers can access this research at iwnv.tearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. ACCT 144207 tAIWATID CURPDrt 0,5022000 STUOCIJCII97 TYPE OUANTTY MCI vµ04 OWL NO:AIC TED 227 BEAR STEARNS COMPANIES INC BSC CASH 200.000 99.0400 19.808.000 200.000 1.0097 CELGENE CORP CELG CASH 25.000 42.3400 1.058.500 BSC RATING: STOCK P/SECTOR MO 9ESTSEOCIA19- ANGS ARGUS FUNDAMENTAL RESEARCH RATING: B 027 000143420,03 001 0011 to I8 b.) IJ .0- 2.2 00 EFTA01260766 0.CARED TW401.K.Al ITS ~Ley OM IIA0SCVAIT DEFACE SERVICING YOUR ACCOUNT So Ss Sans ~WA Bear. Steams & Co. Inc. BUM"( I« Yen New Yolk 10179 NR..,. 112014149 STBNIZNS FINANCIAI. TRUST COMPANY INC 5 H STATTACAT P1400 April 30.2005 TniecLASTI May 31.2005 Your Portfolio Holdings (continued) aStOssa POWDER • TASTES m.~0, On fie LAST STATCSENT Avi 29 2005 Equities 8 Options (ccadnued) Ø «Ku ES1SAA110 CURRENT OISCI11111,1 ST1A101/CUSIS MI CRIAMY SIDTI MAI ANNUAL ØE .E10 COLGATE PALMOLIVE CO Cl CASH 108200 49.9700 5.306.814 123.192 2.3214 BSC RATING: STOCX 0/SECTOR MN FULCRUM GLOBAL PARTNERS. Ut RAMC: H 0 DEERFIELD TRLARC CAP CORP 244572202 CASH 1.000.000 15.0000 15.000.000 z ACCREDITED IPATESTORS -n WITTY OFFICE PROPER1IES TRUST sal BSC PAMG: STOCK P/SECTCli Lem GREEN STREET ADVISORS. INC. RATING' $ COP CASH 110.000 32.4900 3.573.900 220000 6.1557 ENWIONMENTAL SOWTIONS ESVM CASH 100.000 0.6200 62.000 rn NDRLOWDE INC IFIL(IST FIN ITAL) IFPSF CASH 103.000 4.1380 413.800 8.400 2.0300 z EuR1 ITIVST CL KERZNER INTERNATIONAL LTD K71 CASH 10.000 61.5800 615.800 BSC RATING: SW PJSECTOR MN NED DAVIS RESEARCH RATING: 8 MACK.CALI REALTY CORP CU CASH 88.100 44.0900 3.884.329 222.012 5.7156 r BSC RATING STOCK PiSECTOR MW GREEN STREET ADVISORS. NC. RATING: B TOO INC TOO CASH 50.000 19.8800 994.000 BSC RATING: STOCK P/SECTOR MW CARP RESEARCH RATING: B VECTOR GROUP LID VGR CASH 151.990 17.1500 2.606.629 243.184 9.3294 LESTS£00- IA19- ANGS 021 06101/06,0903 001 MIS EFTA01260767 ri nsmn ThROUtoi as visetve OWNED SuliSOWAY OFFICE SERVICING YOuR ACCOUNT diraiikal Etnc. BEAR ak 10179 dissitcII 201.34141) STEARNS FINANCIAL TRUST COMPANY INC 6 a STATIDANT PES000 WI 30.2005 nat043,4 May 31.2005 Your Portfolio Holdings (continued) ACCOSNT MASSER tAYSAYER KAMER Del Fie Equities 8 Options (continued) LAST SYSTEMERT Awl 292005 AccT MARKET ESTWATED WEIRDO DISCRIPTCA snAmoo..yo of DOWRY PRICE VW/ Weal PONE SSW re WYNN RESORTSLTO WYNN CASH 10.000 46.8500 468,500 850 RATING: STOCK 0/SECTOR ?PH WALL STREET STRATEGES RATING: H 0 Total Equities& Options TOTAL EQUITIES 553.792.272 553.792.272 51.016,788 51.016.788 E I YOUR PORTFOLIOHOLOINGSEST MATEO ANNUAL INCOME 52.339.483 YOUR PRICEDPORTFOLIOHOWINGS m 5104,665.173 z -H Transaction Detail INVESTMENT ACTIVITY r SEMID/00 RAM DATE DATE Twassierot D(SCRPTION SMABOLICLISP Cell MCSJT 05/02/05 04/27/05 SOW CELGENE CORP CO.G -25.000 39.30300 982.528.92 UNSOLICITED WE MAKE A tACT IN TiaS SECURITY AVG PRIM: DETAILS ON REQUEST UNIT PIKE 39.363000 _ DIFFERENCE - 0.060000 05/09/05 05/04/05 BOUGHT ENVIRONMENTAL SOLUTIONS Envw 56.400 0.70;03 40.613.00 11ORLOWDE NC UNSOLEITED AVG PRCE: DETAILS ON REQUEST 8£STS£00 IN9 ANGS 007 swoursomm 901 vem OEStiZOO- V.L.43 EFTA01260768 r .VI TefetCH rrs Wma.LY wem SUIISIOWN OFFICE SERVICING la" ACCOUNT Rar &Rann er Co. Inc. BMR New Y New York 1017 I eitOtert Ida? rm 112014855 STUUNS FINANCIAL TRUST COMPANY INC 7 o.•C stereerr sereco Apn 30.2005 IlitOVON May 31.2005 Transaction Detail (continued) /ae.>, 7.4.MER TAXPAYIA NWIE9 0 FM INVESTMENT ACTIVITY (eontInued) J.ST STAMM? AM 29.2005 unteuoit 11599 art 0Alt neuisAeneei 21:50991121 59.90.00.519 0.4NMY PeCt orerAMarT CM* 041090 0511205 05/09105 SOLD VECTOR GRCUP LTO VGR 40000 15.75000 784.462.06 unswann SEE NOTE 'V ON BACK 05/1105 ESVAV O 05/16105 800GHT ENVIRONMENTAL SOLUTIONS WORMTIDE NC UNSOUCTTED AVG PRICE: DETAILS ON REQUEST 12.500 0.70000 9.005.00 Z T 05/17105 05/12/05 MUCKT ENVIRONMENT/4 SOLUTIONS MN/ 8.200 070000 5.909.00 WORADIAIDE INC UNSOUCITED AVG PRICE: DETARS ON REQUEST 0 05/18/05 os/13es WUCHT ENvIRONFAENTAL SOLUTIONS WORUTMIDE INC UNSCUCITED ESieW 22.900 0.70000 16.493.00 AVG PRICE: DETAILS ON REGUEST TOTAL 5-72.020.00 11 766 991.00 DEPOSITS AND WITHDRAWALS r 00.9 06/04/05 099:5•001 END WIREO CCSO9101 MOA*M9000730ENDSVARED TO LEN/AMIINT 8.250000.00 CIEDIr AMOUNI 05/18105 FUNDS REC ENDSWIRED TO CITIFIANK FROM 47.854.387.59 SM' c") 05/20/05 FNO WIRED MDA.M80' OF I '." ., mo TO 10.000.000.00 _ _ TOTAL mär 5-16250.000M 547.654.387.59 6£815£00 1A19 ANGS 027 Oel01.05.0.0.1 Ce31 Hn I EStZZOO-V.L43 EFTA01260769 DEA/no n-le0Lem rte 1.440u), OwNED SuSSown, OFFICE SERVICING YOUR ACCOUHI Ow. Slams Soz.rIfis Cars BEAR Bear. Steams & Co. Inc. 1 10 STEARNS ....ew cs. 0179 cal FINANCIAL TRUST COMPANY INC 8 •: STATEiert HERO AM 30.2005 niciOuOn May 31, 2005 Transaction Detail (continued) ACO:ctir suweaci TwArlit PauMBER MONEY FUND ACTIVITY LAST Miner san 29. 2005 0Alt 600CAT Twesacnas O€SDYIO.I STIMICUCAISP OLomm. Fs= OM M1001 CSECO niCVNT 04/3005 OPENINGBALANCE 18.460.988.05 0502405 BOUGHT DREYFUS CASH MANAGEMENT-CL A DION 982.528.92 1.0000 982.528.92 ISSMIMDMAL SHARES 0502/05 DIVIDEND DREYFUS CASH MANAGEMENTCL A DICE( RISTRUTIDNAL SNARES 50.505.29 -n 0502/05 REINVEST 1047111Y DNIDEND DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES DIC)M 50,505.29 50.505.29 C DIVEEND REINVEST in 05/0305 05104/05 BOUGHT SOLD DREYFUS CASH MANAGEMENT-CL A INSMUTIONAL SHARES DREYFUS CASH MANAGEMENT-0. A DION CCU 225.000 -6.250/300 1.0000 1.0000 225.010.00 8,250,030.03 DISTM.MONAL SHARES 05/09/05 SOLD DREYFUS CASH MANAGEMENT-CL A -40.613 1.0000 DISTITLMONAL SHARES 40.61100 05/1205 SOLD DREYFUS CASH MANAGEMENT-CL A DK:XX -224.542.92 1.0000 MITTUTIONAL SHARES 224642.92 r 0503/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES Oaf 24.889 1.0000 24,88900 05/18105 SOLD DREYFUS CASH MANAGEMENT-CL A DIC30C -10493 10000 10493.00 INSITTUDWAL SNARES 05/19/05 BOUGHT DREYFUS CASH MANAGEMENT-0. A WO( 47654.38159 'L0000 47,854,387.59 INSTITLMONAL SHIRES 0178TS£00- O19- ANGS 05/20.05 $01.0 DREYFUS CASH MANAGEMENT-el A DIGOC -10,000,000 1.0000 INSTiTIMCNAL SHARES 10.000.000.00 05/2705 BOUGHT DREYFUS CASH MANAGEMENT-CL A DIC)X 6241.08 1.0000 6.241 08 INSTITUTIONAL SHARES 02) 0601/05.09-03 001 yen rn IJ IJ IJ EFTA01260770 CLEARED !MOWN ITS YM&Ly 0A140 SWNWAY OFFICE SERVICING YOUR ACCOLPIT lSea Seeerw Bear Steams & Co. Inc. BEAR Rohn. Alm York 11201.3859 its STEARNS FINANCIAL TRUST COMPANY INC stArewne mew ADM 30.2005 -1410.1G.4 May 31.2005 Transaction Detail (continued) ALCOWT MJI TAXISAYER nuween On F5e MONEY FUND ACTIVITY (couinued) LAST STATEMENT *0 29,2005 GAIT MOUT IIMNSACTON ocsommori SP Warm MKf can mow OHM WOW 05/31/05 ClOSINGBALANCE 50 872.901 01 TOTAL 5-48.943.551S8 516.582.154.21 DIVIDENDS -n OUT 05/07J05 OLSCRINON DEERFIELD 11 ARC CAP CORP NAMOUI-.US11 244572202 :JANINY 1.000.030 SAM it 0.2250 coo LACPUK7 MCA Al/O"." 225.000.00 C ACCREDITED INVESTORS RFC 03/24/05 PAY 04/29/15 rn 05/13/05 COLGATE PALMOLIVE CO REC 04/26815 PAY 05/13/05 Cl 106,200 0.2900 30.798.00 05/28405 IFtQST FIN ITAL) IFPSF 100.000 0.0683 8.544.33 EUR1 IINST CL we 2.106.97 REC 05/25/06 PAY 05/26/05 EM CONY RATE. 01.25100 FOREIGN TAX WITHHELD TOTAL 5.2.306.97 5264.342.33 r INTEREST OATS Discerner' SmacticuSe Ounranx NAIL DOW miOuon CROW AMOUNT 0523/15 INTEW DIT BALANCE 3.72 ACCT TPSTS£00- 019- ANGS AT 0 21 -05320 TOTAL 33.72 027 060106:0903 CO1 8 IJ IJ EFTA01260771 CLELAL3 , LACLAIL OS LOACW 02040 ASSIDWry OFFICE Sava& YOUR ACCOUNT Sear. Steams & Co. Inc. EAR Meg DOCl2r, IeLw 'on 11231-3859 SB IMMS 10179 FINANCIAL TRUST COMPANY INC 10 ✓.c STATtotwr 0200:0 AprO 00.2005 TI-ROWN Wry 31.2005 Transaction Detail (continued) Arrant swath TWArE0 oLwatit Co AM MISCELLANEOUS LW STATCO211 AA. 29.2005 DATE LACCAY nopcsente 02100101011 OUR &COM CREDO AVOW 05/12/05 JOURNAL TO Up= 1.000.000.00 0 TOTAL PER s•tozo.000.00 0 z m End or Statemon C in z -H r ZPSTS£00- 019- ANGS 027 COW 0/.C903 COI V278 EFTA01260772 OLEAttE0 ni3OUCH rn Vnieter OWNED SLIIStotow OFFICE SERVICING YOUR ACCOUNT WO SIMMS Sootbos Bete. Steams & Co. Inc. BEAR 0179 STEARNS FINANCIAL TRUST COMPANY INC STATFUPST P1900 4/1 1.2005 ACCOUNT EXECUTIVE 2ICHERMANIZA THROtIOS AO 29. 2005 TELEPHONE VISIT OUR WEBSITE vnwebearsteams can ArrOttll swam What's In This Statement I II TAX/AYtit au4NA Oil Fde 1.43T tfalt%/eut Myth 31. 2005 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio NOUNS 010 AMERICAN YACHT HARBOR Transaction Detail 6 Fund Activity 7 ST THOMAS VI 004302-1348 0 Open Orders Trades Not Yet Settled 9 9 z T I I Your Portfolio at a Glance Market Value of Your Portfolio m z CamA Egitrtat-S TOTAL VALUE Ct SECURITES ISM REMO 54.279.920 MONEY MARKET FUND BALANCE 18.460.998 (WKS 554.279.920 $53.671.854 NET NUM THIS PERIO0 572.740,918 MO int market Wee Last stiamonn meets Sus 78.276.874 r NET LOAN CAST STATEMENT CHANGE SINCE LAST STATEMENT -5.635.966 _ EPSTSECIO IN9 ANGS 'Si WINO. far lebeledeiMiPlePION meat 11111awde4 as a tax OCCute, C. "rat. C last ssYS • et CS thllotS um..stSCOted SO manned es ritGs to non Sentra St O boon," Sty II/014M 9- Stones td a The Wee-eel OWN MOW eteMe Men See IMMO SOW nriant.reeeraben Ore Ole4001c11,24 001 vi, SEStiZOO- V1.43 EFTA01260773 MGM 714014.1‘44 ns WSCIAY °MED SLUSIDLOCY wawa NOV Tv', 11201414.9 FINANCIAL TRUST COMPANY INC 2 a4 0 0 z ii STATEMENT BACKER IS PRINTED ON THIS PAGE C in z -H r _ trI7STS£00 IN9 ANGS 127 04,1OES 1114 0O4 \117/ 9£StiZOOV1.43 EFTA01260774 CLEAAID 11.110uCal ITS %MOLL 0 ,140, OFFICE SERVICING YOUR ACCOUNT Sea Siaire Sooamos , Bear. Steams 6 Co. Inc. BEAR New York. New York 10179 DOW" NM Yet 11231.1.132 STEARNS FINANCIAL TRUST COMPANY INC 3 at STATEKNT FEROO ASni 1.2005 114•01.1311 Airi 29. 2005 *CALM NUMBER Cash Flow Analysis Income Summary TAx•Ann yogurt On Foe nes new POICO 'DR IODATE LAST S'ATEYEN7 PAISth 31. 2005 OpeningBa lance 50.00 DividercIS 212.035.40 715.249.45 Credit Balance hit. 0.00 2.309.91 Securities Sold 25.352.21 Total 5212,035.40 5717.559.36 Money Fund 6.907.937.03 Drridenis/Iiterost 160.503.00 0 MIscelaneous 475,0170.37 z Amount Credited 57.566.792.61 Portfolio Composition ii Securities Bought -1.856.405.00 CashiCash Ernartilers Nokias 18.460.998 54.279.920 Morey Fund -712.387.61 C Funds Withdrawn Total S72 740.919 rn Amount Debited S-7.569.792.61 z ClosingEta lance $0.00 Your Portfolio Allocation r Cash 6 WM 26% SPOTS£00- 019- ANGS U-s 'antra ein.. OW tarn !rob shin rtalast tiitaa in, stoat). pinny i eiorreW tte *Knit nnel Ku, pals. 027 043D0511 24 ont V877 rn I8 b.) IJ -7 EFTA01260775 OLLOtED THROuCrt ITS WIPIU.P WACO SuktitaAv cora sERYimG YOUR ACCOUNT BEAR Mit he. Yol 11201.33St STEARNS e rk 10179 FINANCIAL TRUST COMPANY INC VETO/EV PASCO Apl 1.2005 TmA0J0/4 rpI 29, 2005 AccouNT www to:PAYER wow, On rte Your Portfolio Holdings LAST storranT Much 31. 2005 CASH & CASH EQUIVALENTS IMO(' STOWED CURRENT OLICIEPTIMI STAIOJCUSP Ouvanv PACE YAW! AMU* MOPE MED IV DREYFUS CASH MANAGEMENT•CL A CCU 18,460,998.05 1.0000 18.480.998 461.525 2.5000 0 949TITVEIONAL SHARES (Si, 30 DAY AVG YIELD 2.690D% TOTAL CASH & CASH EQUIVALENTS 518.460,998 1461.525 -n EQUITIES Equities & Options in 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 stock's total rel.= relative to the other stocks covered by that Analyst. The key for the stock rating values is es 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 Ovenvelght 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 is 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 duo to legal reasons. r Independent, third-party research or at wwer.bearsteams.corn or can call s covered by the Firm's research is available to customers of Bear Stearns at no cost. Customers can access this research to request that a copy of this research be sent to them. WOWED CURREN, DES010110.1 SYMODUCIPPIP Tin mummy MCI OWL flea %MAE YEW C%) BEAR STEARNS COMPANIES INC BSC CASH 200.000 94.8800 18.932.000 200.000 1.0564 CELGENE CORP CELL CASH 50,000 37.9100 1.895.500 BSC RATING: STOCK P/SECTOR 1A0 _ ARGUS FUNDAMENTAL RESEARCH RATING: El 917SISE00 INS ANGS 027 0400/091114 00I VIET SEStit00V.L.43 EFTA01260776 =ARM THROUGH its /Attu. —.-- &a3wM OFFICE SERVIENG YOUR ACCOUNT aSlerniSeculta Ile Bear. Stearns & Co. Inc. BEAR New Y New York 10179 Mme. WY Yon 11301.3552 STEARNS FINANCIAL TRUST COMPANY INC 5 cf 2 STATEnE//T PER/00 AO I. 2005 no/Oven 4/11 29.2005 Your Portfolio Holdings (continued) ACCOUHT st.weER Tnxin2YEA 2.untelt On file ■ LAS' STA-EstEnT Match 31.2(05 Equities & Options (continued) ACC/ WARM arsualo omen orsaencre memos. IYIN GUMMY ECRU vat% ASPILIAL 114001* MEI OR COLGATE PALMOLIVE CO CI. CASH 106.200 49.7900 5.287.698 123.192 2.3298 BSC RAMC: STOCK 0/SECTOR Mw FULCRUM GLOBAL PARTNERS. LW RATING: H DEERFIELD TRIARC CAP COMP 244572202 CASH 1,000,000 15.0000 15.000.000 ACCREINIED INVESTORS -n EQUITY OFFICE PROPERTIES TRUST EOP CASH 110.000 31.4700 3.461.700 220.000 6.3553 SIN BSC RATING: ST= PNECTOR MN GREEN STREET ADVISORS. NC. RAMO: S C IFIL(IST FIN ITAL) FPSF CASH 100.000 4.1940 419.400 8.800 2.0982 rn EUR1 MIST CL KERZNER INTERNATIONAL LTD KII CASH 10.000 55,0900 550.900 BSC RA11NG: STOCK WSECTOR MW NED CAWS RESEARCH RATING: B MACK•CALI REALTY CORP al CASH 88.100 43.9900 3.875.519 222.012 5.7286 BSC RATING: STOCK P/SECTOR IAN GREEN STREET ADVISORS. INC. RATING B r TOO INC BSC RATING: STOCK WSECTOR MN TOO CASH 50.000 23.0100 1.150.500 GARP RESEARCH RATING: B VECTOR GROUP LTD VOR CASH 201.990 15.7300 3.177.303 323.184 10.1716 WYNN RESORTS LTD %MINN CASH 10.000 52.9400 529.400 BSC RATING: STOCK LVSECTOR MW MT SE00-019-ANGS WALL STREET STRATEGIES RATING: B Total Equities& Options 554.279.920 51.097.188 TOTAL EQUITIES $54.279.920 $1.091.188 027 04,1005.11 24 021 Yel? Tn I8 IJ IJ EFTA01260777 0.C.ARt0 Troteuca.RS wetuy 00041.0 SUMCIARY Dina SERVICING YOUR ACCOUNT Beat. Steams b Co. Mc. BEAR M iirgiar 0,CO1," Yn Yart 11201.3ln? STEARNS 0179 9111111111111 FINANCIAL TRUST COMPANY INC 6 fitA,30 AO 1.2005 11490Jam Apl 29. 2005 Accamr PANOVX TAVAnA roe a,* STATMENT March 31.2005 Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME 51.558.713 YOUR PRICED PORTFOLIOHOLOINGS 572.740 918 0 ii Transaction Detail INVESTMENT ACTIVITY C in SITROAOrt BAR TUX DAR TRAIGAGION CESCASION 5.1.19CLCUSP 0.1Amin PAX( OW mourn CM= AMOUNT 04/14A)5 0411105 BOUGHT CELGENE CORP CELG 50.000 37.12800 1,856,405.00 UNSOUCITED WE MAKE A MKT w THIS SECURITY AVG PRICE: DETAILS ON REQUEST IWO PRICE 37.068000 DIFFERENCE - 0.060003 r 04/15/05 04/12/05 SOW URDENBURG THALMANN ANL SVCS AVG PRICE SHOMI-DETAILS ON RED ACTUAL CONFIRM TO YOUR AGENT Ut4SOUCITED LIS -48.477 0.54110 25.352.21 TOTAL 5.1.855.405.00 525.352.21 DEPOSITS AND WITHDRAWALS _ DAN nusiscree DESCIIPTON Dir AVOW CRIta 4101111 0421105 FND WIRED NOA*MB991972FNOSIPIRED TO 2.000.000.00 817STSECIO INS ANGS Oil 04a603:11:24 001 Yin OtStiZOO-V.L.43 EFTA01260778 REARED ing0J6n r's 'MOLLY OsN£0 SUPSSIXARY OFFICE SERVICWG YOUR ACCOUNT Sew, Steams & Co Inc. Seat. Srzeant Sedfins Am art )0 New York, New York 10179 STEARNS FINANCIAL TRUST COMPANY INC 7 al 9 S7ATWIerir MASCO April 1.2,005 "raCtr.ol AO 20.2005 Transaction Detail (continued) ACCCMCF MASER TAXPAVIIII µNOVI On rk DEPOSITS AND WITHDRAWALS (cowman LAST STATUANt Nardi 31,3005 MN TRIASACKIM OESCRIPT131. OW MOM CREPT mown 04126105 END WIRED MDAIMS994467ENDSYAFtED TO 3.0003:03.00 TOTAL 5-5 000 000.00 0 MONEY FUND ACTIVITY -n out 1.00AY MUMS DISCAPI1Y4 svulletartel CRINartv PIKE DENT AMOUNT ANDTT ALOJI0 04/01/05 OPENINGBALANCE 24.805.015.07 C rn 0001/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A EASTITLMONAL SHARES DION 475.000 1.0:80 475.000.00 0410165 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICDL 51,532.40 MSMUTIONAL 'Jaws MONTHLY ONVEND 04101105 REINVEST DREYFUS CASH MANAGEMENT-CL A CCM 51,532.40 51,532.40 DISMUTIONN. SHARES r 04/14/05 SOLD WIDENS/ RENA/Est DREYFUS CASH MANAGEMENT-CL A NSTITuTIONAL SHARES DICEY 4856.40443 1.0000 1,856,404.63 04/15/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICZI 80352.21 1.0000 80.352,21 INSTITunONAL SNARES 04/18/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A MAX 55,503 1.0000 55.50300 MSTITunONAL SHARES _ 04121105 SOLD DREYFUS CASH MANAGEMENT-CL A ECM -2.000000 1.0000 2.000.000.00 INSTMMONAL SHARES 04/26.05 SOLD DREYFUS CASH MANAGEMENT-CL A DIGOC -3.003.000 1.0000 3.000.000.00 INSMIMONAL SHARES MT SE00 IN9 ANGS 027 04.0006.11.24 001 .81171 I tStiZOO-V.L.43 EFTA01260779 REARED 114•00:In as w.csv EVAtED SURNIXARY OFFICE SERVICING YOUR ACCOUNT Boar. Steams b Co Inc. BEAR New Y t Nw York 10179 von 112014855 STEARNS FINANCIAL TRUST COMPANY INC 8 el T STATDIENT PERIOD AO 1.2005 11IROUSI An 29.2005 Transaction Detail (continued) Aimee NYINER WW1 YAMMER On E9E MONEY FUND ACTIVITY (continued) LAST STATITICHT FANG 31.2006 ▪ OE SOW IMIILACN DENRIPTC/V TINIMUELIP OUNOITY FeE DINT AMOUNT MOT PA 8I 04/29/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICOC 50.000 1.0000 50.000.00 INSTIIITIONAL SHARES 04/29/05 CLOSINGBALANCE 18.46O.998.O5 TOTAL S-71E387.61 56.907.937.03 -n DIVIDENDS C DEn IXSODPICH enaha/custy wean PATE m DEN PACUICT CREDIT 1110.94 in 04/15)05 EQUIP/ OFFICE PROPERTIES TRUST 583 REC 03/31/05 PAY 04/15/05 EOP 110.000 0.5000 55.030.03 04/18/05 MACK-CAU REALTY CORP CU 88.100 0.6300 55,503.00 REC 04/05105 PAY 04/18/05 O4/291O5 BEAR STEARNS COMPANIES NC BSC 200.000 0.2500 50.000.00 REC 04/19/05 PAY 04/29/05 TOTAL 5160.503.00 r MISCELLANEOUS OAR LOWY TRAMSICTIDII OOCArnss DEN NANO° CREDO AVOW 04)01/05 JOURNAL FROM 150.030.00 FRANI. OSSISE00-019-ANGS 04/01/05 JOURNAL 325.002.00 027 04/3605:11:24 001 V9/7 rn 8 IJ IJ 10 IJ EFTA01260780 Citat0 TrOtOuroi ITS 'MOLLY 0/046D OSSIDARY OFFICE SERVICING YOUR ACCOUNT t St Sawn*, Bear. Steam & Co. rc. BEAR 10:0,0r, New 101 11201.3652 STEARNS New York. New York 10179 FINANCIAL TRUST COMPANY INC 9 C. stArnaNT ;am Apil 1.2005 iCIJS14 APri 29. 2005 Transaction Detail (continued) /CCOuNT wincest • TAnAvtit msuarA en Fie MISCELLANEOUS (contMued) 1.3T StAlT.Aer MarCh 31.2005 DM IIODAT lIned3ACIION Marty Drell MKX.Iii CREDIT MOW 04/01/05 CASH-LIEU LADENEI/JRG TEMLAAANN FINL SVCS 0.37 CASH IV UEUCf .60003 /ECTOR GROUP LTD C) REC 03I8/05 PAY 03)30175 SmN.OfF FM V002114 TOTAL $475,000.37 -n C Open Orders rn EICAT DAR DESERPTION radOCIAXISP (weer I.WCCI PRICE 04/18/05 VECTOR GROUP LTD VGR SELL -50.000 15.7300 ORDER PRtE 15.75 G000 TILL CANCEUED r Trades Executed Pending Settlement SETILIIIDIT TOO( DATE LATE TRAICIACIION OISCRPTCA1 SWIIOUCUSP Dummy PIK( OEM IMOUI0 CREW AM:INT 05/02/05 04/27/05 SOLD CELGENE CORP CELG -25.000.00 39.3030 982,528.92 Hue" cow A ISSTS£00- 019- ANGS WE AMKE MKT IN THIS SECURITY AVG PRICE! DETAILS ON REPAST LAW PRICE 39.363000 DIFFERENCE - 0,060000 TOTAL $0.00 5982.528.92 The APO ads 04 rot Ems I, Si ate Nero a/ P sinnwat 027 04/300511 24 COI rn 8 b.) IJ EFTA01260781 0.8.0150 TM9,40,4 9,141418 CAMO 4434,01 M OFFICE SERVICING YOUR ACCC. AT Bear. Steams & Co Mc BEAR New York. New York 107 7E? Ore% Inv York 112014859 STEARNS FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE ZICHERMAN1RA STATOR -14 PERICO Mach 1.2005 It LEPVICNE THROV0M Nroch 31. 2Das VISIT OUR WE &WE www.tearstearnscom ACCOLTe NUIMI9 What's In This Statement IIIIIIIIII tlltII 11111 TA/COAYOt 1114/0C9 on File LMT sysimida Febnany 28. 2005 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C/0 AMERICAN YACHT HARBOR Transaction Detail 6 Fund Activity 6 ST THOMAS VI 00802-1348 0 Your Messages 8 -n C Your Portfolio at a Glance Market Value of Your Portfolio in TOTAL VALUE OF SECURITES 7N6 PERIOD 53.671.859 Cash 4 Waive /24.606.015 524.416,032 MONEY MAMIE( RIND BALANCE 24.605.015 $53.671.859 E011:05 S54229,457 Nn FOUrTY Tuts Remo $78.276.874 MI Current market yame IN LW statements mute value r NET CONY UST STATEMENT CHANGE SINCE UST STATEMENT 78,715,489 -438.615 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. ZSSTSEOCIN9- ANGS run nXe a0 01 b C. • # 4,00:4 er 0004 0, ,00,4 lO14td MO elbeftal bps G. set. n Omni Swot si 844t Sees &at SIK nil %WM/IV M b Fro' pirpows 0•14.110 nel Kan*, Nana dent. TIN tlattroen $49:10 N maned %I 5041neords. See mono olds br orpwartiftn004a Co. aster, NY 11201.X6. 021 00010509 49 031 0116 t EFTA01260782 REARED DIROuem IPS WHOLLY INC SLSOARY 904 SYYWH $0,16111 > irOCOr. Nig Tµ I I221.)450 FINANCW. TRUST COMPANY INC 2 a s 0 z -n STATEMENT BACKER IS PRINTED ON THIS PAGE C in z -H r _ £SSTS£00 IN9 ANGS 027 OO01/W00 49 COI \176 StStiZOO- V.L.43 EFTA01260783 CLF.ME0 MOOCH rts 116161.2.Y 0.100.11 Su6.1216.2tY CffiCE SERVICING YOUR ACCOUNT BEAR ork 10179 York 11202.1659 STBIRNS FINANCIAL TRUST COMPANY INC 3 t $7119.49.21 PEFOCO Muth 1.2005 neounm Norm 31. 2005 ACC-W2 Cash Flow Analysis Cash Balance Summary TAXPAYINI mall On Ile MS PIRKO enhoz LAST STATIST Totem 28.2005 Opening 8a lance 5381.73 Cash 381.73 000 Money Fund 38096.33 Net CashBalance 5381.73 $0.00 Funds Deposited 51.02 Dlydendsinterest 80.836.21 0 Amount Credited 5118.883.56 z Income Summary -n Money Fund -119.36.5.29 MS a Ma TO 0111 (addends 118892.33 501214.05 Amount Debited 5-119.3455.29 Credit Balance M. 40.21 2309.91 C Net Cash Achly -381.73 in Closing Balance 50.00 Total 5118.932.54 5505 523.96 z Your Portfolio Portfolio Composition Allocation CashiCash Enntalent 24.805.015 r Equales Total 53,671.859 578.276.874 CS & 32% _ Equities 58% PSSTS£00 IND ANGS unosou: Pran a•nou toin way 262.2 .wt. nun poW1101,1 • 61, 0.11 l ye. or swim MEM1•1 .S.It a YOU' Catil on CAC1,1509 49 001 9tStiZOO-V.L.43 EFTA01260784 CWASO 11R003.4 r14 vaittsv wun 444.0:444tY OFFICE memo vouR Accouvr 84.4Stearrs Swedes . BEAR ettotyt New not 114014854 STEARNS york New 107 7 q FINANCIAL TRUST COWAN"( INC 4 et SVATVPS.? PER*, MAYER 1.2005 ii4b3l3314 March 31.2005 ACCCANI hued,' • TAXPAYER WOOER On Flo Fetrua0 28. 2005 Your Portfolio Holdings LAST STATEVEAM CASH & CASH EQUIVALENTS MARXET MIAMI WINN" OCSORIPTION SYWOWCUSIP WORM PIY.L VALLE WAAL WOW YIELD 110 DREYFUS CASH MANAGEMENT-CL A DICW 24.605.015.07 1.0000 24.605.015 516.705 2.1000 0 iriSTOUTIONAL Snares EST. 30 DAY AVG vete 2,6700% TOTAL CASH & CASH EQUIVALENTS 524.605.015 5516305 -n EQUITIES C Equities & Options in The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the tirm5 Equity Research Department. The first rating represents the stack'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 — Underperfonn. 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, thrd.party research provider and thee rating may also be displayed. Movie such research is available. The various providers have normalized their ratings systems as follows: B ii. Buy: H - Hold: S - Sell. The ratings information contained herein is for informational purposes only and Is not intended to provide tax. legal a •invesunent advice. Bear Stearns is neither soliciting any action based on such information. nor endorsing any recommendation or opinion expressed by any independent. thi-d-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 at werw.bearsteams.com or can call nies covered by the Firm5 research is available to customers of Bear Steams at no cost. Customers can access this research to request that a copy of this research be sent to them. .8441 144SAI alWARD CURRENT DISCRPTOI 411.4101/CUSH MK ourenny Pea VALLI laNUAL PEVA VELD (IR BEAR STEARNS COMPANIES INC BSC CASH 200,000 99.9000 19,980000 200.000 1.0010 COLGATE PALMOLIVE CO CL CASH 106.200 52.1700 5.540.454 123,192 2.2235 _ DEERFIELD MARC CAP CORP 244572202 CASH 1,000,000 15.0000 15,000,000 AZOREDIIED INVESTORS SSSTS£00 IND ANGS On 040104$4440 ae1 VON LtStiZOO-V.L.43 EFTA01260785 ar.APE0 TvriOueri rts VMOULY 0W4t0 SUSSOIOIY OFFICE SERVICING YOUR ACCOUNT x. BEAR 1120' -3859 STEARNS ork 10179 FINANCIAL TRUST COMPANY INC Z7A-EwENT PER100 Mach 1.7005 notOuCos Math 31. 2005 Your Portfolio Holdings (continued) ACCOofr Vanot &WAYS rai0ER Co Fie Equities d Options (tontines) LAST STAMAINT Fetnrify 28.2005 ACC, Wan ESELIATID EINREM DESCNMpM Snarl:SP PM CIUMMY VALUE MINIM WOLK MO MI EQUITY OFFICE PROPERTIES TRUST EOP CASH 110.000 30.1300 3.314.300 220.000 6.8379 SBI BSC RATING: STOCK TYSECTOR TAN 0 GREEN SWEET ADVISORS. INC. RATING: S IFILEIST FIN ITAL) IFPSF CASH 100.003 4.4330 443.300 8.800 1.9851 WM MYST a RERZNER INTERNATIONAL LTD KA CASH 10.000 61.2300 612.300 ii BSC DATING: STOCK WSECTOR MW NE0 DAVIS RESEARCH RATING: 8 LADENBURG THALMANN Fait SVCS LTS CASH 48.477 06800 32.964 m MACKCAU REALTY CORP BSC RAMG: STOCK P/SECTOR MW GREEN STREET ADVISORS. INC. CU CASH 88.100 42.3500 3.731.035 222012 5.9504 RANG: N TOO INC TOO CASH 50.000 24.6700 1,233,603 BSC PAW.: STOCK P/SECTOR MW GARP RESEARCH RATING: B VECTOR GROUP LTD VCR CASH r WYNN RESORTS LTD WYNN CASH 201.990 10.000 15.3800 67.7400 3.106.606 677.400 323.184 104031 BSC RATING: STOCK WSECTC6I MW WAU. STREET STRATEGIES RANK B Total EquItle315 Optima 553.671.859 $1.097.188 TOTAL EQUITIES 553.671.859 51.097.188 _ YOUR PORTFOLIO HOLDINOS ESTIMATED ANNUAL INCOME 51.613.893 YOUR PRICEDPORTFOLIOHOLDINGS 578.276,874 9SSTS£00 IN9 ANGS 027 04031/060. 40 031 tall StStiZOO- V.L.43 EFTA01260786 CLEARED 01700C.n its vOO.I. 00100 Sulits2ine OFFICE SERVICING YOUR ACCOUNT Nat Soarn Secunns Bear. Steams b Co. Inc. BEAR New Yak. New Yak 10179 Eroder. at reek 11201.3859 STEARNS FINANCIAL TRUST COMPANY INC 6 va STATEMENT PEROD With 1.2006 THAOU1P1 Warch 31.2005 Transaction Detail AtCO...ff Nuking" 7,000KR NtAWCR Co Fla INVESTMENT ACTIVITY LAW 5727EwV.IT Ferny 28,2005 5210.0200 natcc DATE DATE IRMS7C11311 CescRirnm snmouttnta oussrm DER AMOUNT CREW WOW 03/30/05 03/22/05 BOUGHT LADENBURG THAUAAHN FINL SVCS SPINOFF ON 201990 SITS 0 VECTOR GROUP LTD SPIV-OFF MR V002114 REC 03118/05 PAY 03330V6 0 TOTAL AS OF 03/22/05 L I DEPOSITS AND WITHDRAWALS C DAR IIIAMIAC11C0 0210100271 :101010,0 C.020 MORO in 0311C1DS FUNDS REC ENDS1lARED TO CITIBANK FROM 51.02 TOTAL 551.02 MONEY FUND ACTIVITY r DATE VODAY 03/01105 rt013101100 DISCOWTIII OPENINGBALANCE SWASOLOJSIP CILIMATIV 24,485,649.78 IEICF OEMMOW MOOT AVOW 03/01105 BOUGHT DREYFUS CASH MANAGEMENT-CL A CCU 381.73 1.0:03 381.73 NSTRUTIONAL SHARES 03/01/05 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DK* 38.096.33 _ NSTRU710NAL SHARES MONTHLY CWIDENO 03/01/05 REINVEST C4TEYFUS CASH MANAGEMENT-CL A DIC/OI 38.096.33 36096.33 P6TITUTIONAL SHARES DMDENO REINVEST LSSTSECIO IN9 ANGS 027 04010673.0121 00I V075 6tStiZOO-V.L.43 EFTA01260787 CLEARED 111RCAKAI ITS VII.O.L OMR:0 SISICARY OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co Ix. &tr. Sawn Stones co BEAR M 110.111111.001,, STEARNS ./..0179 Via FINANCIAL TRUST COMPANY INC 74B sTATElawr PrAIOD March 1.2005 THROJOI Mirth 31.2005 Transaction Detail (continued) AcCOuNT µP.M TAXPAYER WilEal MONEY FUND ACITATY (contirworl) LAST STATWINT Tetruery 28.2005 OAR PAYDAY TIWISICTICN DESCRPTKA SVIABOU0.81 QUWITrf PRICE DEW Aker MOW a 03730/75 SOUGHT DREYFUS CASH MANAGEMENILCI. A °IOC( 80.887.23 1.0000 80887.23 INSTIRITILWAL SHARES 0 03/31105 TOTAL CLOSINGBALANCE 24.605.015.07 S-119.365.29 538.096.33 -n DMDENDS DATE etscarpnce STIMOUCUSP Rummy PATE (V Mils? MAXI'," Cif Oil Mara in 03/30/05 TOTAL VECTOR GROUP LTO RE0 03/18)05 PAY 03/30/05 VCR 201.990 0.4000 80.796.03 S80.796.00 INTEREST r OM! 03/21/05 0130evny. INTEREST ACCT r CrADOLOSIP CUA•TrY RATE IV DEEIT CREW AWLS' 40.21 AT Olig gia TOTAL _ 8SSTS£00 IN9 ANGS OSStiZOO-V.L.43 EFTA01260788 fA•50 TNROutai T5 IMATALY CANSO SUS.WARY ernes SERVICING YOUR ACCOUNT BEAR C. r mEii Siermis Searle% Madtfpn. NI. at s 20 4119 N Y N York 10179 STEARNS FINANCIAL TRUST COMPANY INC 8 STATEIAEST NERCO Mirth 1.2005 TIROUCAt Mad% 31.2005 ACCOLAIT WYNN EmcsAWR NOMA On FES Your messages LAST STATEMENT 500rUify 28.2005 12? Bear. Stearns Securities Corp. Net Capital and Net Capital Requirements: At November 30. 2004 and January 31. 2005. the Companys net capital ol approximately S3.8 bilion and S3.8 bilion was approximately 6.4% and 6.3% 0 of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately 41.2 billion and S1.2 billion by approximately $2.6 billion and S2.6 billion, all respectively. -n A complete copy of the Bear. Stearns Securities Corp. Statement of Financial Condition Is available on the web site www.bears request a free printed copy please cal - toll free atively. to C rn End of Statement r _ 6S8TSE00 IN 9 ANGS 01? 040111150949 COI NM I SStiZOO-V.L.43 EFTA01260789 CLk.Ant0 THROuGH ITS "Ca Oaf= 54.41SOARY OFFICE SERVICING YOUR ACCOUNT Bear Steams & Co. Inc. BEAR 1St aiskYttt 11201.3159 STEARNS New Y New York 10179 FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE ZICHERMAN.INA STA:WEST Pence February 1.2005 TELEPHONE THROUGH 'COUR) 28.2005 VISIT OUR WI °SITE www.bear‘teatr..com Actottir YUlaSEA MaYa2 What's In This Statement 11...11.,.1,,I,II,,,,,1.1...11..11..1..11..I. TAXPAYER KAISER On Fk LAST STATTPAPC /Brume 31. 2005 Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portftho Holdings 4 00 AMERICAN YACHT HARBOR Transaction Detail 6 Fund Activity 7 ST THOMAS VI 00802-1348 0 -n C Your Portfolio at a Glance Market Value of Your Portfolio in TOTAL VALUE OF SECURITIES INIS PERIOD 54.229.457 COSS S ECtottalent — 124.466.032 826.574,686 NET CREDIT WAKE 382 154.229.457 E5t.thes 837.691.418 MONEY MARKET FUNO BALANCE 24.485.650 CLercr4 make: value PC mum( INIS PERIOD 578.715,489 ME 1.161 SiStereerCS Market vela r NET ECM LAST STATEMENT 63.466.004 OMNC£ SINCE LAST STATEMENT 15.249.485 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. 098TS£00- O19- AN0S tae.e tot ry 4 of cycks ustl.s. ocica as come., to e am Teo orterory • for reorrrolour Mose Otet 'a lemon as • tat leaflet w Cie sm• Cieof Sane*. ibt Soar Inns Sec..M. enternet Wee be menet teemnewt See la me We ee evert ofretaltn. &oder. V 11:t/.351, 011 was, cell so toe VS12 EFTA01260790 0 -EARED 11421.20n n wHOLL OvoiL0 assiOury Tort 11201 3859 FINANCIAL TRUST COMPANY INC 2 0 z m STATEMENT BACKER IS PRINTED ON THIS PAGE ci m z H r T9STS£00 IND ANDS 027 0101.05.1102 CO1 YU 2 £551,ZZOO- V133 EFTA01260791 CLEARED 114fOuCe-I ITS MVittlY OSWED SUSSCCARY OFFICE SERVICING ICOR ACCOUNT BEAR k 10179 ass 117014359 STEARNS allar FINANCIAL RUM COMPANY INC 3 as STATEMENT PER:03 ltbfUlty 1, 2005 110104GPI f *wry 28.2005 Arne.NT FLAMER Cash Flow Analysis Income Summary TAOMYER MAW =MR On FIN ThiS PE WO MS PERIM KM10 WE LAST STATEMENT January 31.2006 OpenIngBalance 576.887.97 Omdends 49,425.72 384,321.72 Credit Balance 381.73 2.269.70 Seculles Sold 16.615.671.20 Mom Fund Total $49,807.45 5385.591.42 12,618,780.35 DMdendsdrorest 381.73 0 Amount Credited 529.234.833.28 Portfolio Composition -n Securities flaunt Money Fund -17.754,032.78 .11.557,306.74 CadVCash Equivalent Equities 24,486.032 54,229.457 C Amount Debited 5.29,311,339.52 in Net Cash Aetaity .76,506.24 Total $78.715.489 Closino Balance 5381.73 Your Portfolio Allocation Cash Balance Summary r chisox 0.05st Cash 76.887.97 381.73 Cash R Ecuva Net Cash Balance 32% 476.887.97 $381.73 _ Z9STS£00 IND ANGS tsymeel ratites Ord* A . baby. fl it" Or main( raw •IOCIOCX1 ..ray tr.., hr. Amaham ma* ate a10.• POrtbi) 027 0101,05.11 CO CO! se" VSStit00-V.L.43 EFTA01260792 MEMO initanti Min.LY OAK° SLiniCaY OFFICE SERVICING YOUR ACCOINI p Iles Yeams %runes ".. BEAR ark 10179 erten" r. net 11401435.0 STEARNS FINANCIAL TRUST COMPANY INC 4 9, $ STATIDAENT PECOCO retrUaly 1,2005 TW1OL,304 Fetruary 28.2005 ACCOArt MAW 1VOnnit Nati% On no ut.tt STAInert January 31.2005 Your Portfolio Holdings CASH & CASH EQUIVALENTS WHET ESTIOATE0 OJO*Ein OtStAIMCei 59u80..59599 *Wen PUCE 99118 WILY NOM 1510 nu C) CASH BALANCE 382 0 DREYFUS CASH MANAGEMENTCL A DISTITUTIONAL SHARES EST, 30 DAY AYG YELL/ 2,3400% C4Crx 24.485.649.78 1.0000 24.485.650 514.199 2.1000 -n TOTAL CASH & CASH EQUIVALENTS 524,486.032 5514.199 C EQUMES rn Equities & Options z J The research ratings for Bear Steams (BSC) are shown for certall 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 fo&ows: 0 Ouq:erform: P = Peer Perform: U = Undesperform. 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 f011Ovis: MO - Market Ovenveight: MW iv 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 Sicemation contained herein is for informational puposes only and is not intended to provide tax. legal or investment advice. Bear Steams is neither soliciting any action based on such information, nor r 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 Firm6 research is available to customers of Bear Steams at no cost. Customers can access this research at www.bearsteams.com or can call (800) 517.2327 to request that a copy of this research be sent to them. ACCT 94.901 ismuto CURR041 Drumm siumucuser ME °want rue %WI WW1. 'COW /IUD IV BEAR STEARNS COMPANIES INC BSC CASH 200.000 99.5000 19.900.000 200.000 1.0050 _ COLGATE PAUAOME CO a. CASH 106.200 52.9200 5.620.104 123.192 2.1920 DEERFIELD TRURC CAP CORP 244572202 CASH 1,000.000 15.0000 15.001000 ACCREDITED DNE.510It5 E9STS£00 IN9 ANGS 027 0301/06:11 09 col 1712 SSStii:00- V.L.43 EFTA01260793 =ARID THROUGH In woCtLY 0V,.tD SUM DART OFFICE SERVICING 1DUR Accouvr Bear Sted Inc. BEAR New Y ea M 113014109 STEARNS N . York 10179 FINANCIAL TRUST COMPANY INC S aa swywra P0003 Fa lun 1.2035 THROuGH Fetwory 28.2005 Your Portfolio Holdings (continued) Acoarra MATER TAXPAYER SUWON Gn Fit Equities & Options (cordnurad) LAST STAITASEMT Artery 31.2055 ACCT WA CO ESTIMATED CORM DISCRIPION STIASOUCUSIP CloWnw PRICE WWI Mail SCOW 3100 063 EQUITY OFFICE PROPERTIES TRUST EOP CASH 110,000 30.1700 3,318.700 171.050 5.1541 Sal BSC RATING: STOCK A/SECTOR MW GREEN STREET AU/MORS. PC. 0 RATING: S IFILOST FIN ITAL) CUM MAST CL IFPSF CASH 100.000 4.4030 440300 8.200 1.8624 -n KERZNER INTERNATIONAL LTD BSC RATING: STOCK FYSECTOR MN NED DAVIS RESEARCH RATING: B KV- CASH 10.000 63.9400 839,400 C MACK.CAU REALTY CCRP CU CASH 88.100 44.2000 3.894,020 222.012 5.7014 in BSC RAMC: STOCK P/SECT01 MN GREEN STREET ADVISORS. INC. RATING: B TOO INC TOO CASH 50.000 26.5600 1.328.000 BSC RAMC: STOCK A/SECTOR MN GARP I:94,49N RAMO: B VECTOR GROUP LTD YGR CASH 201.990 16.7000 3,373,233 323,184 9.5808 r V/YNN RESORTS LTD BSC RAMC: STOCK CVSECTOR MW MAU. STREET SMATEGES RAMC: B CASH 10,030 71.5700 715,700 Total Equities& Options 554.229.457 51,047.638 TOTAL EQUITIES 554,229.457 51.047.638 _ YOUR PORTFOLIOHOLDI NGSESTIMATE0 ANNUAL INCOME 51.561.937 YOUR PRICED PORTFOLIOHOLCONGS 578.715,489 P9STS£00 IND ANGS 017 0301,06.11 09 COI 1072 9SStiZOO- V1.43 EFTA01260794 CLEARED RAUCH ITS RARE( OvAD ELLISORRY WC SERVICING YOUR ACCOUNT Bear Arra URA.. Bear. Steams & Co. Inc. BEAR New Yak New Yon r • STEARNS FINANCIAL TRUST COMPANY INC 6 STATEAL.T ELROD February 1.2005 THAOU0a. February 28. 2005 Transaction Detail ACOCAN• MASER tvarAvert LOMA ER F1 INVESTMENT ACTIVITY LAST EtATLALIT Army 31, 2006 SEITLDADO TAX OAK MAACK* DISCR•ral SYMICEAGIE OMAR ACE CEA MADU111 OIER AMOUR 0201/05 01/27/05 BOUGHT COLGATE PALMOLIVE CO CI. 200.000 52.41970 10,495,945.00 UNSOUCZED 02/09/05 02/04/0S SOLD VECTOR GROUP LTD VGR -75.000 18.25000 1,214,20410 0 02/11105 02/08/05 SOLD UNSOUCITED SEE NOTES ON BACK BEM STEARNS COMPANIES INC BSC -100.000 103.00020 10.293.876.12 AVG MICE SODYR&DEMIS ON RIC/ -n ACTUAL COMDATA TO YOUR ALEXI UN BEASR. CRED OUSTEARNS & CO, INC. IS A SUBSIDIARY Cf THE ISSUER. 02/16/05 02/10105 BOUGHT EQUITY OFFICE PROPERTIES TRUST EOP 10.030 29.92640 299.869.03 in 02/16/05 02/10/05 BOUGHT UNSOLICITED MACK-CAU REALTY CORP CU 10.000 43.85020 437.107.03 AVG PRCE SHOWROOMS ON Kg ACTUAL CONFIRM TO YOUR AGENT UNSOLCDED 02/17/05 02/14/05 SOLD COLGATE PALMOUVE CO CL -93.800 54.51690 5,107,790.18 UNSOLEITE0 r 02/18105 02/15/09 BOUGHT EQUITY OFFICE PROPERTIES TRUST UNSOLICITED LOP 100.000 30.15610 3.021.616.00 02/18105 02/15/05 BOUGHT MACKCAU REALTY CORP CU 28.100 44.74380 1.258.991.78 UNSOUcITED 02/22/05 02/16/09 BOUGHT IMCCCALI REALTY CORP CU 50.000 44.75000 2.240.609.00 UNSOUCITED _ TOTAL S-17.754.032.78 516 615 671.20 S9STS£00 IN9 ANGS L1.01051102 031 1872 Lg5tZZOO-V.L.43 EFTA01260795 CLAARIO 1RROuGA wreOuLv OVent0 SURSOARV OFFICE SERVICING VVIJR ACCOAT BEAR Ork 10179 11701.3859 STEARNS l M FINANCIAL TRUST COMPANY INC 7 ae enliven PCR,00 February 1, 2005 IRROUCal Fethary 28.2005 Transaction Detail (continued) ArtAk*IT%LAMER MOUS TAXPAVIR NLAJOIR On Flo MONEY FUND ACTIVITY LAST sTATney racy 31.2025 Mn ROPY 1128/45ACTION Dun SMICIANSI CARNMY Flit OM AMOUR, CPICO AMOUltr 02/01105 OPENINGBALMICE 25.497.697.67 0 0201/05 02/01/05 SOLD CMDEND DREYFUS CASH MANAGEMENT-CL A INSTRUDONAL SHARES DREYFUS CASH MANAGEMENT-CL A OCCC .10.419,057.03 1.0000 10.419.057.03 49.425.72 INSTITUTIONAL SHARES -n 02/01/05 REINVEST moNTNLY ONCEND DREYTUS CASH MANAGEMENT-CL A INSTOUTIONAL SHARES DICOt 49.425.72 49.425.72 DIVIDEND REINVEST C rn 02/09/05 BOUGHT DREYFUS CASH MANAGEMENTCL A RISTMJTONAL SHARES DIC33( 1,214,204.90 1.0000 1.214.204.90 z 02/11/05 02114/05 BOUGHT. SOLD DREYFUS CASH IAANAGEMENT-OL A MSTrtun0)01 SHARES DREYFUS CASH MANAGEMENT-CL A 10.293.676.12 1.0000 10.291676.12 DION -736,976 1.0000 736,976.00 INSTITUTIONAL SHARES 02J22/0.5 SOLD DREYFUS CASH MANAGEMENT-CL A MBE -1.413.321.60 1.= 1,413,321.60 INSTRUIMAL SHARES r 02/28/05 CLOSINGBALANCE 24,485,549.78 TOTAL 5.11.557.306.74 512,618,780.35 _ 998TSECIO IN9 ANGS CR> 090105.11.00 00, 9872 8SStiZOO-V.L.43 EFTA01260796 Cautt0 TIP - .cm rtS ?move 0"5,0 SUMMARY OFFICE SERVCING YOUR ACCOUNT a is Sosanis Seasonas imm Beer. Stearns & Co Inc. BEAR New York. New York 10179 Bruit" Mw.., 11201.30S0 STEARNS FINANCIAL TRUST COMPANY INC 8 as siArEut‘T PF.J.00 FeNtary 1.2005 rmotou04 February 28.2005 Transaction Detail (continued) AcCOUvr Nunn TWA MAW On Me INTEREST UST STAISSUT lazy 31.2005 CleN CESCIOPTON MAO/CUSP OUPOIN RAIL IV DOM .1.0.011 Olen MrNMI O2/22/05 EDIT BALANCE 381.73 ACCT AT 01. 21.02120 0 TOTAL $381.73 z -n En0 of Statement C in z -H r _ L9STS£00 IN9 ANGS 021 01.,105 vi 09 COI o172 6SStiZOO-V.L.43 EFTA01260797 CLLAPIO TRW>. as WITOLLY OWNED NUSSOWJef OFFICE SERVICING YOUR ACCOUNT BEM Steams & CO. Inc. Is. Rens San Cot. MR Winn i SB TMRNS New Yak. New York 10179 FINANCIAL TRUST COMPANY INC ACCOUNT EXECtiTrta IICHERMA.N.IRA STA,MCNT AFMCO Jemmy 1.2035 TELEPHONE ■ TAROUCio Mouiri 31.200$ VISIT OUR WERSITE wym.boaosteams.YOrn ACCOUNT NJuOtTi What's In This Statement TAnTER nJuarit On Ire :AST STATDACNT Decernm, 37.200s Financial Summery 3 FINANCIAL TRUST COMPANY INC Vow Portfolio Holdings 4 GO AMERICAN YACHT HARBOR Transaction Detail 6 Fund Activity 7 Trades Not Yet Settled ST THOMAS VI 00802-1348 9 I I Your Portfolio at a Glance Market Value of Your Portfolio m TOTAL VAWE OF SECURMES THIS PERIOD' 37.891.418 Oath a EiTuvLant AIMS $25474.586 $65.990.490 NET CREDIT IMIAnCE 76.888 937.691.419 EWaia 553.738.664 MONEY MARKET FUND BALANCE 25,497.698 Current market value NET Awry TN16 PERIOD 561466,004 a LW Salemmts Mickel va&e r NET EQUITY LAST STATEMENT 119.729,154 CHANGE SINCE LAST STATEMENT -56.263.150 intlao ono. re it MP, wohood woolen NI n r rernol n o Toy VOA Socaoko ard Nee M ns Mm. There are no 'Stop Loss' orders or other pending toy 898TS£00- 019- ANGS or sell open orders on file for your account. rya. Nan ay orn , vNAor o: a ONO; 0. on. Accord so coons la ms summon:, abnormal on's% ofOt. C e. Mt renal FS • mo omPonmo. n mill y. Clinl :rec. of Boo. Ana Coco.. nos Ustrienal itesb to lIgihtd 7GI yev SIM Morn Side fa' hrflal CAN ;nip., N .1:11,,357 027 0201,05 0/ 13 COI Nlo En I8 IJ T.7 U a O EFTA01260798 CLEARED THROUGH RS VeROUN OtERED SuBSOAlte BeA LERAE Stone L Rodin. VA. •tM1 11201.3*S9 FINANCIAL FRUST COMPANY INC 2 a9 0 z -n STATEMENT BACKER IS PRINTED ON THIS PAGE C rn z -H r _ 698TS£00 IN9 ANGS 02, 02131/05:013$ 001 I9StiZOO- V.L.43 EFTA01260799 Cain naot,OK ITS YOCUN OWED SESSOAAT OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. Sm. Sins SENIX4 Cap BEAR MILM.0179 STEARNS FINANCIAL TRUST COMPANY INC 3 a e STATEN:Art nmco Meuse, 1.2005 tiny 31.2005 Cash Flow Analysis Acootart rai•ER Income Summary MOWER inn INIIIIIM Oafs nasPDVOD nab etROD rtra MOM, LAST STAMEN!' December 31.2004 OpeningBalance 50.00 Dindonds 334696.00 334.89600 Credit Balance Inc. 1.887.97 1.88797 Securities Said 809,475.98 Maley Fund Total 5336.783.97 5336.783.97 41.327.043.60 Dividends/Interest 336,783.97 0 Miscellaneous 475.000.00 Amount Credited 542.948.303.55 Portfolio Composition -n Securities Bought -339.842.12 CashiCash Equeraiem Equities 25.574.586 37.891,418 Money Fund -781.573.46 C rn Funds VAtteraym Amount Debited -41.750.000.00 5-43 871 415.58 Total 563.466004 Nat Cash Acdray 76.887.97 Your Portfolio Closinglialance $76.887.97 Allocation in EN inn ash bin —w Ann. in r _•c ase! inn as woll a den fl an ••••101011 fib ion nos tallness, Dna Cash Balance Summary ODOM =GINO OLSTS£00- 019- ANGS Cash 0.00 76.887.97 Equities 59% Net Cash Balance $0.00 576.88797 L.rovhs >way arm an baim Any No.: nal.. Ha. The Olasion prersvage aaa..a be, in, *my: ••••10 % S foe plea 027 orcl OS 07 55 Dot V970 rn 8 IJ IJ .F- IJ EFTA01260800 MCVEY° nialatot 11010.12 CAKED Strattatar OFFICE SErmaNG YOUR ACCOUNT Bea. Sten Starral BEAR Mir 10119 an.4w Yon 11201.3959 STEARNS FINANCIAL TRUST COMPANY INC 4 ot; STATWENT 1101100 January 1.2005 n4tco^ January 31. 7005 £CCOJM ,44‘144 - AxPAYER NJW9E, On !le DeCeniaer 31.2004 Your Portfolio Holdings AS? STATOrrair CASH & CASH EQUIVALENTS uEAxn (STRIMIO CURRENT 04.50.1734 SweCuCuSa Cuonny emu VMIT 114,4111. WOW MD m CASH BALANCE 76.888 DREYFUS CASH MANAGEMENT-CL A DCXX 25.497.697.67 1.0000 25.497.698 509.954 2.0000 NSTMMONAL SHARES EST. 30 DAY Am vino 2.1700% -n TOTAL CASH & CASH EQUIVALENTS 525.574.586 $509.954 C EQUITIES in Equities & Options The research ratings for Bear Stearns (BSC) are shown fa certain securities covered by the Firm's Equity Research Department. The first rating represents the stock's total return relative to the other stocks catered 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 vi Market Overweight; MW - Market Weight: MU Market Underweight, In cases where a BSC rating is present. the name of an independent. third-party research provider and their rating may also be displayed. where such research is available. The various providers have normalized their ratings systems as follows: B = Buy: H = Hold: S = Sell. The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice. Bear Stearns is neither soliciting any action based on such information, nor r 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 ' ies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at www.bearsteams.com or can call to request that a copy of this research be sent to them. f.O 11ARCIT 1511141103 CURRENT OISCAPTCri thructussi wit OUviirre PR/C/ MA MON MOW YEW 00 BEAR STEARNS COMPANIES INC BSC CASH 300.000 101.0600 30.318.000 300,000 0.9895 ILSTS£00- 019- ANGS DEERFIELD TRURO CAP CORP 244572202 CASH 1.000.000 Unthced ACCAECITED INVESTORS IFILOST FIN ITAL) IFFSF CASH 100,000 4.5820 458.200 8.000 1.7460 EUR1 MST CL C47 02.014.47.45 001 V970 rn I S b.) IJ to EFTA01260801 CLEARED 1,4.0“.4 ITS WHOLLY DATED SLAISIDORY OFFICE SERYCING YOUR ACCOUNT BEAR assr STEARNS New Yt 2 W WA 10179 FINANCIAL TRUST COMPANY LAIC ST TttWT wstoo January 1.2005 letarAH January 31. 2005 Your Portfolio Holdings (Continued) ACCCARY stAwat TARPRATA MAASER 9D TAO LAST STATEREMT 0wealaw 31.2004 Equities 8 Options (cnotinuen) ACCT WOO Mauna ORME OISTAIPTM SWRICUCUS• TYPE DAUM MCI VAL Ur AMUR NOWT nuo Al KERZNER INTERNAM:In/AL LTD (IL CASH 10.000 60.3300 603.300 8SC RAMC: SNOT WSECTOR MN W.D DAVIS RESEARCH RATING: 8 TOO INC TOO CASH 50,000 27.1600 1.358.000 8.5C RATING: STOCK FISECTOR PAN GARP RFSFARCH RATING: 8 VECTOR GROUP LTD VGR CASH 276,990 16.2400 4.498.318 443.184 9.8522 m WYNN RESORTS LTD 7,YNN CASH 10.000 65.5600 655,600 NC RAMC: STOCK 0/SECTOR MW C WAIL STREET STRATEGIES RATING: 8 in TOtal Equitin& Options TOTAL EQUITIES $37.891.418 537,891.418 5751.184 5751.184 YOUR PORTFOLIO HOLDINGSESTIMATE D ANNUAL INCOME 51 261.138 r YOUR PRICED PORTFOLIOHOLDINGS 563.466.004 ZLSTS£00- 019- ANGS 02/ 0101$06,07 S6 OM WTO I8 IJ IJ U a EFTA01260802 CUM= 2/45202411 n'S wHOLL 01040 StS5tCvar OFFICE SERVICING ICJR ACCOUNT Beer. Steams & Co. Inc. seesiersen. mesas . BEAR 383 Madison Avenue New VOA. New Vol( 10179 Ibtebn. Maw ten 1120141150 STEARNS FINANCIAL TRUST COMPANY INC 6 ie s 5TATDOENT OE RICO /brut) 1.2005 na000H larrary 31.2005 Transaction Detail 0i1+-2214 /2044ER 2554AVOI %WPM On Fie INVESTMENT ACTIVITY LAST sweetie Doom. 31.2004 5(111DaNT OM PM DM 11251152411041 OCSCRIP11011 STWOARM OMIT, RICE ONE man! MOO 45101/111 01/03/05 12/29/04 BOUGHT KERZNER INTERNATIONAL LTD Ka 5.603 60.62520 339.84112 AVG PRICE 503WN-DETALS ON RED Pam CONFIRM TO YOUR AGENT C) UNSOUCITED 01103/05 1229/04 SOLD VECTOR GROUP LTD VCR -50.000 16.25000 809,475.98 UNSOUCITED MERE/11'5'CM BACK TOTAL $.339.842.12 5809.475.98 it DEPOSITS AND WITHDRAWALS C in OATS 01/03/05 1/514nACTION FND WIRED DES011411011 MOAACT706190ENDS WIRED TO DM NW 20.000.000.00 CRON MEWL MSS Cilia. 01/0105 END WIRED MDANCT795191ENDS MEI) TO 20.000.000.00 Mk BOOK r 01/05.05 END WIRED NA MOMPM8932691ENDSWIRED TO 1.000.000.00 01/06/05 END WIRED NANs MOAMMEL933586ENDS WIRED TO 75000000 TOTAL 5-41.750.000.00 ELSTS£00- 019- ANGS 021 vuosonis 001 1fJD 8 b.) IJ EFTA01260803 CLEANS netau04 ITS %%MOLY Cl•Re SSW OFFICE SERVICING YCUR Arertnr BEAR ailitork 10179 ja M 112014449 STEARNS FINANCIAL TRUST COMPANY INC 7 ay STATWENT PERICO Ina" 1.2025 nacuan Arun 31.2005 Transaction Detail (continued) ACCOINT SlUR TWAYER MAW 01nie MONEY FUND ACTIVITY LAST StArnipa Dicsmbeir 31.2091 OA1T 140041 'WILMA 11430.104 STIAKIJCUSP OuRany FFOtt 01011 NAOMI One APCIUNT 01101106 OPENING BALANCE 65.990490.35 0 0 01/03/05 0.1/03/05 SOLD REINVEST DREYFUS CASH MANAGDAENT-ci A easTinmoNAL mums DREYFUS CASH MANAGEMENT-CL A -40.030.000 1.0000 40.000.000.00 C400( 52.677.46 52,677.46 94STMMONAL SHARES ONMV40 REIVvES1 11 0110105 DMOEND DREYFUS CASH PMNAGDAENKL A DIC)0( 52.677.46 NSITUDONAL SHARES MATTINCLUDED kV 2004 • 1099 C in 01/0905 SOLO OREYFUS CASH MANAGFATINT-CL A teTTRADDHAL SHARES 06:31 424.366.14 1.0000 524.366.14 z 01/06105 01/06/05 SOUGHT SOLO DREYFUS CASH MANAGEMENT-CT. A MSTRunONAL SHARES DREYFUS CASH FAANAGEMENT.CL A 000C 728.896 1.0000 728.896.03 DC:a 450000 1.0000 750000.00 WSTRUTINAL SHARES 01/3165 CLOSINOBALANCE r TOTAL 25,497,697.67 5-761.573.46 541,327,043.60 DIVIDENDS DATE DESCIPPI194 Sn440.0z40. 0.AvrrlY Mh (s) AllOWAr CR= NOW) _ 01/03/05 MONA CORP KR3 50.000 0.1200 6,000.00 REC 72,15/04 PAY 01101105 010605 WALT DISNEY CO HOLDING co DIS 1.057.900 0.2400 253.096.00 REC 12/10'04 PAY 014:15/05 VLSTS£00 N19 ANUS 021 02431/06)07,58 COI 14110 9951,ZZOO-V.L.43 EFTA01260804 CLEARED TRROLON rta RACER' OW'CD SuESOWAT OFFCE SERTriCe4 YOUR ACCOUNT Beer. Stearns & Co. Me. Ma Simms Semmes We Tat 112014419 New York. New York TOT T'S STDkRNS BUR FINANCIAL TRUST COMPANY INC STATTATANT armor. January 1.2005 January 31. 2C05 Transaction Detail (continued) ACCOuNT ware TAATEMA NuMSEE CM Fre DIVIDENDS (CCTIMUER) LAST STATEMENT DOLORES 31. 2004 OM! OLSCEPTKIM SYM8OLIXEIP CAMEMT RATE ril OUST AMOUNT MIT AMOUR! 01/28/05 BEAR STEARNS COMPANIES INC BSC 300.000 0.2500 75.000.00 REC01/14.05 PAY01/28/95 TOTAL 5334.896.00 0 INTEREST m OMF 0121105 OFSCRIPTION I EDIT BALANCE CMAYMY PATEN NOUN GRECO MOW 1.887.97 ACCT ci AT 01. .01/20 m TOTAL 51.887.97 MISCELLANEOUS H DATE UMW TRAMSACEICM OESCRIMION owl AMOUNT MOO AMOUNT 01/05/05 JOURNAL JOURNAL FROM TYPE 2701 6.000.00 r 01/05/05 0105/05 JOURNAL JOURNAL FROM FROM 150,000.00 325.003.00 01/05/05 JOURNAL JOURNAL FROM TYPE 2 TOT 6,000.03 01/06/05 JOURNAL JOURNAL FROM TYPE 2 TO 1 253.896.00 01/06/05 JOURNAL JOURNAL FROM TYPE 2 TO 1 253.896.03 SL8ISE00- V49- ANOS TOTAL $.259,896.00 5734,896.00 027 0201/0507.55 001 VETO EFTA01260805 CLEARED mfteucH ITS 'Thou, Owe SueSaar OFFICE SERVICING YOUR ACCOUNT BEAR imakiork 10179 11201.38.59 STERNS FINANCIAL TRUST COMPANY INC 9 <, 9 suanea mime larrary 1.2006 naocom Ansley 31.2005 me rn aCCOutt NtweeR Trades Executed Pending Settlement TAXPAYER µMFR On LAST StArnit.97 Dean** 31.2004 SL111D400 MOE DAII TRANSAC9Cri DISCRIPT311 SvMSOLCU9P 0990779 ROC! UST MON' CREPT SWUM 02/01/05 01/27(05 BOUGHT COLGATE PALMOLIVE CO CL 200.000.00 52.4197 10.495.945.00 UNSCUCRED TOTAL 510495 945.00 50.00 0 The OtOve Ilion 01 ,01 *Weir am" ate. soCif. et 1.4 Wean: z -n End of Statement C in z -H r _ 9LSTS£00 INS ANGS 027 02:C105.07 SS OW 0870 89StiZOO-V.L.43 EFTA01260806