EFTA01539325

HARRY BELLER C/O HBRK ASSOCIATES 301 E 66TH ST APT 10F NEW YORK NY 10065-6216 EFTA01539325 EFTA01539326 For the Period 1/1/12 to 1/31/12 Account Summary Account Number Investment Account(s) FINANCIAL TRUST COMPANY INC FINANCIAL TRUST COMPANY INC Total Value 2 Beginning Net Market Value 69,593,029.52 299,802.94 $69,892,832.46 Ending Net Market Value 71,952,731.06 299,433.05 $72,252,164.11 This account summary is provided for informational purposes and includes assets at different entities. (1) Assets held at JPMorgan Chase Bank, N.A., member Federal Deposit Insurance Corporation ("FDIC"), except for exchangelisted options, which are held at 3PMorgan Clearing Corporation ("JPMCC"). The Asset Account Statement reflects brokerage transactions executed through J.P. Morgan Securities LLC ("JPMS"), see "Portfolio Activity Detail". Equity securities, fixed income securities, and listed options transactions are generally cleared through JPMCC, a wholly owned subsidiary of 3PMS. Please see "Additional Information About Your Accounts" at the end of the Asset Account Statement. (2) Assets held in Margin Account at JPMCC, member Financial Regulatory Authority ("FINRA") and Securities Insurance Protection Corporation ("SIPC"). The Margin Account Statement reflects brokerage transactions executed by JPMS, see "Portfolio Activity Detail". Such transactions are cleared and carried through JPMCC. Please see disclosures located at the end of this statement package for important information relating to each 3.P.Morgan account(s). Change In Value 2,359,701.54 (369.89) $2,359,331.65 Start on Page 4 31 0000000007.15.0.15.00001.BELLE18.20120215 Consolidated Statement Page 1 1 EFTA01539327 EFTA01539328 THIS PAGE INTENTIONALLY LEFT BLANK EFTA01539329 For the Period 1/1/12 to 1/31/12 Consolidated Summary INVESTMENT ACCOUNTS Asset Allocation Equity Alternative Assets Cash & Fixed Income Market Value Accruals Market Value with Accruals Beginning Market Value 23,104,697.46 4,279,685.00 42,178,189.30 $69,562,571.76 330,260.70 $69,892,832.46 Ending Market Value 25,582,761.51 4,203,472.50 41,956,137.42 $71,742,371.43 509,792.68 $72,252,164.11 Change In Value 2,478,064.05 (76,212.50) (222,051.88) $2,179,799.67 179,531.98 $2,359,331.65 Equity Estimated 772,963.75 Current Annual Income Allocation 36% 6% 2,095,013.00 $2,867,976.75 58% 100% Alternative Assets Cash & Fixed Income Asset Allocation Current EFTA01539330 Portfolio Activity Beginning Market Value Net Contributions/Withdrawals Income & Distributions Change in Investment Value Ending Market Value Accruals Market Value with Accruals Period Value 69,562,571.76 (24.89) 101,763.25 2,078,061.31 $71,742,371.43 509,792.68 $72,252,164.11 Year-to-Date Value 69,562,571.76 (24.89) 101,763.25 2,078,061.31 $71,742,371.43 509,792.68 $72,252,164.11 This Consolidated Summary shows all of your investments at J.P. Morgan other than investments we hold in trust for you. These investments may be held in custody or investment management account at JPMorgan Chase Bank, N.A. (the "Bank") or in a brokerage or margin account at J.P. Morgan Clearing Corp. ("JPMCC"). Brokerage and margin accounts are non-discretionary and all investment decisions are made by the client. J.P. Morgan Securities LLC ("JPMS") does not provide advice on asset allocation or investment management services, nor do its personnel take discretion over any client accounts. Such advice and services are provided exclusively by the Bank. Consolidated Statement Page 2 EFTA01539331 For the Period 1/1/12 to 1/31/12 Consolidated Summary INVESTMENT ACCOUNT(S) YEAR-TO-DATE Portfolio Activity FINANCIAL TRUST COMPANY INC FINANCIAL TRUST COMPANY INC Total Value Tax Summary FINANCIAL TRUST COMPANY INC FINANCIAL TRUST COMPANY INC Total Value Account Number $101,763.25 lUnrealized Gain/Loss represents data from the time of account inception to the current statement period. $11.29 Account Number Beginning Market Value 69,262,768.82 299,802.94 $69,562,571.76 Taxable Income 101,763.25 Tax-Exempt Income Net Contributions/ Withdrawals (24.89) ($24.89) Other Income & Receipts $101,763.25 Income & Distributions 101,763.25 Change in Investment Value 2,078,406.31 (345.00) $2,078,061.31 Realized Gain/Loss Short-term 11.29 EFTA01539332 Long-term Ending Market Value with Accruals 71,952,731.06 299,433.05 $72,252,164.11 Unrealized Gain/Loss, 1,464,125.70 3,949.63 $1,468,075.33 CONTINUED Consolidated Statement Page 3 EFTA01539333 JPMorgan Chase Bank, N.A. 270 Park Avenue, New York, NY 10017-2014 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Asset Account J.P. Morgan Team Paul Morris Paul Barrett Janet Young Gina Magliocco Online access Banker Investment Specialist Client Service Team Client Service Team www.MorganOnline.com Please see disclosures located at the end of this statement package for important information relating to each J.P.Morgan account(s). Table of Contents Account Summary Holdings Equity Alternative Assets Cash & Fixed Income Portfolio Activity Page 2 4 9 10 18 Account Page 1 of 27 Consolidated Statement Page 4 EFTA01539334 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Account Summary Asset Allocation Equity Alternative Assets Cash & Fixed Income Market Value Accruals Market Value with Accruals Beginning Market Value 23,130,482.46 4,279,685.00 41,852,601.36 $69,262,768.82 330,260.70 $69,593,029.52 Ending Market Value 25,608,891.51 4,203,472.50 41,630,574.37 $71,442,938.38 509,792.68 $71,952,731.06 Current Portfolio Activity Beginning Market Value Income & Distributions Change In Investment Value Ending Market Value Accruals Market Value with Accruals Period Value 69,262,768.82 101,763.25 2,078,406.31 $71,442,938.38 509,792.68 $71,952,731.06 Change In Value 2,478,409.05 (76,212.50) (222,026.99) $2,180,169.56 179,531.98 $2,359,701.54 Year-to-Date Value EFTA01539335 69,262,768.82 101,763.25 2,078,406.31 $71,442,938.38 509,792.68 $71,952,731.06 Equity Estimated 775,531.75 Current Annual Income Allocation 36% 6% 2,095,013.00 $2,870,544.75 58% 100% Alternative Assets Cash & Fixed Income Asset Allocation Account Page 2 of 27 Consolidated Statement Page 5 EFTA01539336 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Account Summary Tax Summary Currency Gain/Loss Interest Income Accrued Interest Current Year Taxable Income CONTINUED Current Period Value 60,177.95 45,565.30 (3,980.00) $101,763.25 Year-to-Date Value 60,177.95 45,565.30 (3,980.00) $101,763.25 Unrealized Gain/Loss To-Date Value $1,464,125.70 ST Realized Gain/Loss Realized Gain/Loss Current Period Value 11.29 $11.29 Year-to-Date Value 11.29 $11.29 Cost Summary Equity Cash & Fixed Income Total 41,259,969.37 Cost 25,100,799.84 $66,360,769.21 Account Page 3 of 27 Consolidated Statement Page 6 EFTA01539337 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Equity Summary Asset Categories US Large Cap Equity US Small/Mid Cap Equity Preferred Stocks Concentrated & Other Equity Total Value Market Value/Cost Market Value Tax Cost Unrealized Gain/Loss Estimated Annual Income Accrued Dividends Yield Beginning Market Value 7,597,700.00 539,500.00 1,656,290.00 13,336,992.46 $23,130,482.46 Ending Market Value 8,093,000.00 541,761.25 2,790,957.50 14,183,172.76 $25,608,891.51 Current Period Value 25,608,891.51 25,100,799.84 (519,821.09) 775,531.75 99,845.00 3.01% US Large Cap Equity Change In Value 495,300.00 2,261.25 1,134,667.50 846,180.30 $2,478,409.05 Current Allocation 11% 1% 4% EFTA01539338 20% 36% US Small/Mid Cap Equity Preferred Stocks Concentrated & Other Equity Asset Categories Equity as a percentage of your portfolio - 36 % Account Page 4 of 27 Consolidated Statement Page 7 EFTA01539339 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Note: P ** indicates position adjusted for Pending Trade Activity. Unrealized Gain/Loss is shown as "N/A" in cases where we do not have appropriate cost information for all tax lots comprising the position. Please contact your J.P. Morgan team for additional information. Equity Detail Price US Large Cap Equity DB CONT BUFF EQ MS 08/07/12 25% CONTIN BARRIER- 13%CPN 30% CAP INITIAL LEVEL-07/15/11 MS:21 09 2515A1-A7-6 SG MARKET PLUS SPX 6/20/12 74% CONTIN BARRIER-0%CPN ,UNCAPPED INITIAL LEVEL-03/16/11 SPX: 1256.88 78423A-L3-4 SG MARKET PLUS SPX 02/07/13 75% CONTIN BARRIER- 6.25%CPN ,UNCAPPED INITIAL LEVEL-08/03/11 SPX:1,260.34 78423A-2Y-7 Total US Large Cap Equity $8,093,000.00 $8,000,000.00 $93,000.00 $0.00 0.00% 101.63 2,000,000.000 2,032,600.00 2,000,000.00 32,600.00 103.89 5,000,000.000 5,194,500.00 5,000,000.00 194,500.00 Quantity Value Adjusted Tax Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. EFTA01539340 Accrued Div. Yield 86.59 1,000,000.000 865,900.00 1,000,000.00 (134,100.00) Account Page 5 of 27 Consolidated Statement Page 8 EFTA01539341 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Price US Small/Mid Cap Equity DEUTSCHE BK AG LDN BRH DBL LONG ETN38 25154H-55-8 DAG P FRANCESCAS HOLDINGS CORP GUIDEWIRE SOFTWARE INC Total US Small/Mid Cap Equity 351793-10-4 FRAN 18.03 40171V-10-0 GWRE $541,761.25 $357,404.00 $184,357.25 $0.00 0.00% 375.000 6,761.25 4,875.00 1,886.25 22.17 0.00 Quantity Value Adjusted Tax Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield 10.70 50,000.000 535,000.00 352,529.00 182,471.00 Preferred Stocks AEGON NV 24.78 8% PFD 007924-60-8 AEK BARCLAYS BANK PLC PFD SHS SER 5 8 1/8% 06739H-36-2 BCS PDAA /P-2 CITIGROUP CAPITAL XIII 7 7/8% PFD 173080-20-1 C PNNA /BA1 EFTA01539342 P FIRST REPUBLIC BANK/SF 6.7% PFD 33616C-20-9 FRC PA 25.05 0.00 6.69% 26.94 30,000.000 808,200.00 750,000.00 58,200.00 59,070.00 7.31% 25.15 39,250.000 987,137.50 1,002,565.50 (15,428.00) 79,716.75 8.08% 20,000.000 495,620.00 500,000.00 (4,380.00) 40,000.00 8.07% Account Page 6 of 27 Consolidated Statement Page 9 EFTA01539343 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Price Preferred Stocks P REALTY INCOME CORP PFD 6 5/8% 756109-80-7 ORII Total Preferred Stocks $2,790,957.50 $2,752,565.50 $38,392.00 $211,906.75 7.59% 25.00 20,000.000 500,000.00 500,000.00 33,120.00 6.62% Quantity Value Adjusted Tax Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield Concentrated & Other Equity GENERAL MOTORS CO 40.06 CV PFD B 37045V-20-9 GM PB JPMORGAN CHASE & CO 7.9% PFD STK APR 30 2049 DTD 04/23/2008 46625H-HA-1 BBB /BAA LONG TOTAL RETURN SWAP 3,007,792.80 USD NOTIONAL APPLE INC MAT FEB 03 2012 DEAL 6505432 N/O Client SWPBDH-AY-3 MS MARKET PLUS MO 06/18/12 78% CONTIN BARRIER-15%CPN ,UNCAPPED INITIAL LEVEL-12/09/10 MO: 24.59 617482-QA-5 116.90 3,000,000.000 3,506,850.00 EFTA01539344 3,000,000.00 506,850.00 116.02 8,860.000 1,027,912.76 N/A ** N/A 108.32 5,000,000.000 5,416,050.00 5,404,861.12 11,188.88 395,000.00 99,845.00 7.25% 71,000.000 2,844,260.00 3,585,969.22 (741,709.22) 168,625.00 5.93% Account Page 7 of 27 Consolidated Statement Page 10 EFTA01539345 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Price Concentrated & Other Equity MS MARKET PLUS TEF SM 7/26/12 75% CONTIN BARRIER-25.5%CPN ,UNCAPPED INITIAL LEVEL-1/13/11 TEF: 17.69 617482-0R-8 Total Concentrated & Other Equity $14,183,172.76 $13,990,830.34 ($835,570.34) $563,625.00 $99,845.00 3.96% Quantity Value Adjusted Tax Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield 69.41 2,000,000.000 1,388,100.00 2,000,000.00 (611,900.00) Account Page 8 of 27 Consolidated Statement Page 11 EFTA01539346 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Alternative Assets Summary Beginning Asset Categories Hard Assets Estimated Value 4,279,685.00 Alternative Assets Detail Price Hard Assets 3PM CORN DLY LIQUIDITY NT 07/25/13 LNKD TO DJUBCN3T 07/22/10 48124A-WK-9 168.14 2,500,000.000 4,203,472.50 2,512,500.00 Quantity Estimated Value Cost Ending Estimated Value 4,203,472.50 Change In Value (76,212.50) Current Allocation 6% Account Page 9 of 27 Consolidated Statement Page 12 EFTA01539347 FINANCIAL TRUST COMPANY INC ACCT. • For the Period 1/1/12 to 1/31/12 Cash & Fixed Income Summary Beginning Asset Categories Cash Non-USD Cash US Fixed Income Non-US Fixed Income Complementary Structured Strategies Foreign Exchange Contracts Total Value Market Value/Cost Market Value Tax Cost Unrealized Gain/Loss Estimated Annual Income Accrued Interest Yield Market Value 21,617,481.54 1,225,396.23 18,124,790.00 270,213.70 610,604.31 4,115.58 $41,852,601.36 Ending Market Value 13,794,172.97 1,233,574.07 24,660,696.25 1,294,703.60 569,796.77 77,630.71 $41,630,574.37 Current Period Value 41,630,574.37 41,259,969.37 292,974.29 2,095,013.00 409,947.68 4.64% Cash Change In Value (7,823,308.57) 8,177.84 6,535,906.25 1,024,489.90 EFTA01539348 (40,807.54) 73,515.13 ($222,026.99) Current Allocation 19% 2% 33% 2% 1% 1% 58% Foreign Exchange Contracts Complementary Structured Strategies Asset Categories Non-US Fixed Income Non-USD Cash US Fixed Income Cash & Fixed Income as a percentage of your portfolio 58 % Account Page 10 of 27 Consolidated Statement Page 13 EFTA01539349 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 SUMMARY BY MATURITY 1 Cash & Fixed Income 0-6 months 6-12 months, 1-5 years, 5-10 years, 10+ years, Total Value 1 SUMMARY BY TYPE Market Value 14,541,543.81 1,056,000.00 12,505,276.25 5,075,000.00 8,375,123.60 $41,552,943.66 % of Bond Portfolio 45% 2% 26% 10% 17% 100% The years indicate the number of years until the bond is scheduled to mature based on the statement end date. Some bonds may be called, or paid in full, before their stated maturity. Cash & Fixed Income Cash NON USD Cash Corporate Bonds International Bonds Complementary Structure Total Value Market Value 13,794,172.97 1,233,574.07 24,660,696.25 1,294,703.60 569,796.77 $41,552,943.66 % of Bond Portfolio 28% 2% EFTA01539350 67% 2% 1% 100% Account Page 11 of 27 Consolidated Statement Page 14 EFTA01539351 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Cash & Fixed Income Summary NET FX CONTRACTS EXPOSURE SUMMARY Value ARGENTINE PESO SINGAPORE DOLLAR US DOLLAR in Currency (595,420.00) 3,183,000.00 (2,320,268.65) Note: P indicates position adjusted for Pending Trade Activity. Cash & Fixed Income Detail Price Cash US DOLLAR COST OF PENDING PURCHASES PROCEEDS FROM PENDING SALES Total Cash 1.00 1.00 1.00 18,517,633.69 (5,559,400.00 ) 835,939.28 18,517,633.69 (5,559,400.00) 835,939.28 $13,794,172.97 18,517,633.69 (5,559,400.00) 835,939.28 $13,794,172.97 $0.00 $1,851.76 $199.52 0.01% 1,851.76 199.52 0.01% 1 Quantity Value Adjusted Tax Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest EFTA01539352 Yield This is the Annual Percentage Yield (APY) which is the rate earned if balances remain on deposit for a full year with compounding, there is no change in the interest rate and all interest is left in the account. Account Page 12 of 27 Consolidated Statement Page 15 EFTA01539353 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Price Non-USD Cash ARGENTINE PESO CANADIAN DOLLAR EURO PRINCIPAL CURRENCY Total Non-USD Cash 0.23 1.00 1.31 595,420.00 0.01 837,388.58 137,391.38 0.01 1,096,182.68 $1,233,574.07 138,349.11 0.01 1,099,726.08 $1,238,075.20 (957.73) (3,543.40) ($4,501.13) Quantity Value Adjusted Tax Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield $0.00 0.00% US Fixed Income AMERICAN CAPITAL LTD 101.57 8.96% DEC 31 2013 DTD 06/28/2010 02503Y-AF-0 B /NA FELCOR LODGING LP 10% OCT 01 2014 DTD 10/01/2009 31430Q-BA-4 NA /B2 FORD MOTOR CREDIT CO LLC SR NOTES 7% APR 15 2015 DTD 04/09/2010 345397-VN-0 BB+ /BA1 HCA INC EFTA01539354 6 1/2% FEB 15 2016 DTD 2/8/2006 404119-AR-0 B- /B3 CIT GROUP INC 144A 7% MAY 02 2016 JUN 15 2011 125581-FZ-6 B+ /B2 Account Page 13 of 27 Consolidated Statement Page 16 100.38 5,000,000.00 5,018,750.00 4,725,000.00 293,750.00 110.00 1,200,000.00 1,320,000.00 1,278,000.00 42,000.00 84,000.00 24,733.20 104.50 1,500,000.00 1,567,500.00 1,530,000.00 37,500.00 97,500.00 44,958.00 350,000.00 78,750.00 3.66% 110.63 2,321,000.00 2,567,606.25 2,442,852.50 124,753.75 232,100.00 77,365.89 5.65% 2,000,000.00 2,031,420.00 2,031,000.00 420.00 159,200.00 13,708.00 7.07% 5.25% 6.90% EFTA01539355 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Price US Fixed Income AMERICAN AXLE & MFG INC 7 7/8% MAR 1 2017 DTD 2/27/2007 02406P-AF-7 B /B2 CIT GROUP INC 144A 7% MAY 02 2017 DTD 06/15/2011 125581-GA-0 B+ /B2 BANK OF AMERICA CORP 8 1/8% PFD STK DEC 29 2049 DTD 04/30/2008 060505-DT-8 BB+ /BA3 P SOUTHERN CAL EDISON 6 1/4% DEC 31 2049 DTD 01/17/2012 842400-FU-2 BBB /BAA Total US Fixed Income 101.86 5,000,000.00 5,092,900.00 4,986,950.00 105,950.00 312,500.00 (13,020.83) $24,660,696.25 $23,996,858.06 $663,838.19 $1,769,675.00 $367,618.26 Non-US Fixed Income REPUBLIC OF ARGENTINA - ARS FLOATING RATE NOTE DEC 15 2035 DTD 11/01/2005 HELD BY EUROCLEAR ISIN ARARGEO3E147 SEDOL B1MYWX3 EC0698-9B-7 ARS 6.12% 99.38 2,000,000.00 1,987,520.00 2,081,180.56 (93,660.56) 162,500.00 34,304.00 8.18% 100.25 2,500,000.00 EFTA01539356 2,506,250.00 2,306,250.00 200,000.00 175,000.00 24,790.00 6.94% 102.75 2,500,000.00 2,568,750.00 2,615,625.00 (46,875.00) 196,875.00 82,030.00 7.22% Quantity Value Adjusted Tax Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 6.49% 2.82 10,000,000.00 282,203.60 318,000.00 (35,796.40) 85,833.74 10,967.40 30.65% Account Page 14 of 27 Consolidated Statement Page 17 EFTA01539357 FINANCIAL TRUST COMPANY INC ACCT. • For the Period 1/1/12 to 1/31/12 Price Non-US Fixed Income REPUBLIC OF ARGENTINA NOTES DEC 15 2035 DTD 11/01/2005 HELD BY EUROCLEAR ISIN US040114GM64 SEDOL BOS5NQ3 042993-9S-6 Total Non-US Fixed Income $1,294,703.60 $1,356,750.00 ($62,046.40) $323,486.24 $42,129.90 Complementary Structured Strategies BRL PUT JPY CALL FX EUROPEAN STYLE OPTION JAN 24, 2013 @ 42.5 KO @ 46.5 XBRLPA-GQ-Z JPY JPY CALL CAD PUT FX EUROPEAN STYLE OPTION AUG 13, 2012 @ 76. KI @ 71 XJPYCA-RC-Z CAD JPY PUT CAD CALL FX EUROPEAN STYLE OPTION AUG 13, 2012 @ 83.25 XJPYPA-YX-Z CAD 0.01 832,500,000.00 75,235.82 411,436.90 (336,201.08) 0.05 (760,000,000.00 ) (380,547.94) (411,436.90) 30,888.96 25.66% Quantity Value Adjusted Tax Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield EFTA01539358 13.50 7,500,000.00 1,012,500.00 1,038,750.00 (26,250.00) 237,652.50 31,162.50 24.27% 3.94 (4,588,235.29 ) (180,891.11) (125,886.86) (55,004.25) Account Page 15 of 27 Consolidated Statement Page 18 EFTA01539359 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Price Complementary Structured Strategies HSBC MARKET PLUS MXN NOTE 11/2/12 LNKED TO MXN VS USD 25% BUFFER, 9.75%CPN, 100%MAXRTN 10/26/11 4042K1-RA-3 Total Complementary Structured Strategies $569,796.77 $874,113.14 ($304,316.37) $0.00 0.00% Quantity Value Adjusted Tax Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 105.60 1,000,000.00 1,056,000.00 1,000,000.00 56,000.00 Market Value Receivable Trade Date Foreign Exchange Contracts ARGENTINE PESO CHINESE RENMINBI CHINESE RENMINBI SINGAPORE DOLLAR SINGAPORE DOLLAR US DOLLAR US DOLLAR US DOLLAR US DOLLAR US DOLLAR Jan. 30 12 Feb. 1 12 Jun. 8 11 Jun. 11 12 Oct. 5 11 Jun. 11 12 Nov. 2 11 Feb. 6 12 EFTA01539360 Dec. 12 11 Feb. 6 12 ARS USD CNY USD CNY USD SGD USD SGD USD (595,420.00) 136,626.89 31,818,000.00 (5,000,000.00) (31,818,000.00) 4,983,632.23 3,183,000.00 (2,500,000.00) 3,249,250.00 (2,500,000.00) 4.358000 6.363600 6.384500 1.273200 1.299700 4.358000 6.287829 6.287829 1.255856 1.255856 136,626.89 136,626.89 5,060,251.80 5,000,000.00 4,983,632.23 5,060,251.80 2,534,526.25 2,500,000.00 2,587,279.11 2,500,000.00 60,251.80 (76,619.57) 34,526.25 87,279.11 Currency Settlement Date Counter Currency Amount Counter Amount Contract EFTA01539361 Rate Current Market Forward Rate Market Value Payable Unrealized Gain/Loss Account Page 16 of 27 Consolidated Statement Page 19 EFTA01539362 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Market Value Receivable Trade Date Foreign Exchange Contracts SINGAPORE DOLLAR US DOLLAR Total Foreign Exchange Contracts Currency Settlement Date Counter Currency Amount Counter Amount Contract Rate Current Market Forward Rate Market Value Payable Unrealized Gain/Loss Jan. 25 12 Feb. 6 12 SGD USD (3,249,250.00) 2,559,472.23 1.269500 1.255856 2,559,472.23 2,587,279.11 $17,861,788.51 $17,784,157.80 (27,806.88) $77,630.71 Account Page 17 of 27 Consolidated Statement Page 20 EFTA01539363 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Portfolio Activity Summary - U S Dollar Beginning Cash Balance Current Transactions Income INFLOWS 41,585.30 Foreign Exchange - Inflows Total Inflows OUTFLOWS ** Total Outflows Foreign Exchange - Outflows TRADE ACTIVITY Settled Sales/Maturities/Redemptions Settled Securities Purchased Total Trade Activity Ending Cash Balance 1,395,979.54 (4,294,685.75) ($2,898,706.21) $18,517,633.69 * Year to date information is calculated on a calendar year basis. ** Your account's standing instructions use a FIRST IN, FIRST OUT method for relieving assets from your position 1,395,979.54 (4,294,685.75) ($2,898,706.21) -10,186,064.81 $10,227,650.11 (10,000,000.00) ($10,000,000.00) 41,585.30 10,186,064.81 $10,227,650.11 (10,000,000.00) ($10,000,000.00) Period Value 21,188,689.79 Year-To-Date Value* -Account Page 18 of 27 Consolidated Statement Page 21 EFTA01539364 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Portfolio Activity Detail - U S Dollar INFLOWS & OUTFLOWS Type Settle Date Selection Method 1/3 1/3 1/12 1/18 1/18 1/18 1/24 1/27 1/30 Corporate Interest Interest Income Corporate Interest FX Fwd Contract FX Fwd Contract Accrued Int Paid Accrued Int Recd Spot FX Interest Income Total Inflows & Outflows Description AMERICAN CAPITAL LTD 8.96% DEC 31 2013 DTD 06/28/2010 (ID: 02503Y-AF-0) DEPOSIT SWEEP INTEREST FOR DEC. @ .03% RATE ON NET AVG COLLECTED BALANCE OF $19,807,110.96 AS OF 01/01/12 AMERICAN CAPITAL LTD 8.96% DEC 31 2013 DTD 06/28/2010 AS OF 12/30/11 (ID: 02503Y-AF-0) SETTLE FORWARD CURRENCY CONTRACT BUY CNY SELL USD CONTRACT RATE : 6.420000000 TRADE 1/13/11 VALUE 1/18/12 (ID: OCNYPR-AA-6) SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL CNY CONTRACT RATE : 6.381500000 TRADE 10/05/11 VALUE 1/18/12 (ID: OCNYPR-AA-6) AMERICAN CAPITAL LTD 8.96% DEC 31 2013 DTD 06/28/2010 @ 102.00 JP MORGAN SECURITIES LLC (BIDL) TRADE DATE 01/12/12 (ID: 02503Y-AF-0) SOUTHERN CAL EDISON 6 1/4% DEC 31 2049 DTD 01/17/2012 (ID: 842400-FU-2) SPOT CURRENCY TRANSACTION - SELL BUY USD SELL JPY EXCHANGE RATE 78.320000000 DEAL 01/25/12 VALUE 01/27/12 (ID: OJPYPR-AA-9) CITIGROUP CAPITAL XIII 7 7/8% PFD @ 0.492188 PER SHARE (ID: 173080-20-1) 30,000.000 0.492 EFTA01539365 14,765.64 $227,650.11 (9,847,500.000 ) (125,886.86) 125,734.17 1,000,000.000 0.00 325,000.000 0.004 0.001 (3,980.00) 394.97 (64,200,000.000 ) (10,171,102.66) 10,060,330.64 1,000,000.000 64,200,000.000 10,171,102.66 0.01 10,000.00 (10,000,000.00) Quantity Cost 1,000,000.000 Per Unit Amount 0.02 Amount 19,900.00 504.69 Account Page 19 of 27 Consolidated Statement Page 22 EFTA01539366 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 TRADE ACTIVITY Note: S Trade Date Settle Date 12/29 1/4 1/11 1/17 1/13 1/19 1/13 1/19 1/18 1/23 1/19 1/24 1/20 1/25 1/20 1/27 indicates Short Term Realized Gain/Loss Settled transaction was initiated in prior statement period and settled in current statement period Type Selection Method Description Settled Sales/Maturities/Redemptions Sale FIFO Sale FIFO Sale FIFO Sale FIFO Sale FIFO Sale FIFO Sale FIFO Sale FIFO PUBLIC STORAGE 6.35% PFD @ 26.85 429,600.00 BROKERAGE 800.00 TAX &/OR SEC 8.25 J.P. MORGAN SECURITIES LLC (ID: 74460D-12-5) TWO HBRS INVT CORP COM @ 9.21 126,407.25 BROKERAGE 686.25 TAX &/OR SEC 2.43 J.P. MORGAN EFTA01539367 SECURITIES LLC (ID: 90187B-10-1) COPANO ENERGY LLC @ 33.8845 67,769.00 BROKERAGE 100.00 TAX &/OR SEC 1.31 J.P. MORGAN SECURITIES LLC (ID: 217202-10-0) LINN ENERGY LLC UNITS @ 35.80817 143,232.68 TAX &/OR SEC 2.76 J.P. MORGAN SECURITIES LLC (ID: 536020-10-0) TARGA RESOURCES PARTNERS LP @ 38.49 48,112.50 BROKERAGE 100.00 TAX &/OR SEC .93 J.P. MORGAN SECURITIES LLC (ID: 87611X-10-5) SOUTHERN CAL EDISON 6 1/4% DEC 31 2049 DTD 01/17/2012 @ 100.50 JP MORGAN SECURITIES LLC (BIDL) (ID: 842400-FU-2) BOARDWALK PIPELINE PARTNERS @ 27.20 34,000.00 BROKERAGE 100.00 TAX &/OR SEC .66 J.P. MORGAN SECURITIES LLC (ID: 096627-10-4) ZIOPHARM ONCOLOGY INC @ 5.15459 34,793.48 BROKERAGE 337.50 TAX &/OR SEC .67 J.P. MORGAN SECURITIES LLC (ID: 98973P-10-1) (6,750.000) 5.104 34,455.31 (35,100.00) (644.69) S (1,250.000) 27.119 33,899.34 (34,437.50) (538.16) S (325,000.000) 100.50 326,625.00 (324,605.03) 2,019.97 S (1,250.000) 38.409 48,011.57 (47,875.00) 136.57 S (4,000.000) 35.807 143,229.92 (143,800.00) (570.08) S (2,000.000) 33.834 67,667.69 (68,060.00) (392.31) S (13,725.000) 9.16 EFTA01539368 125,718.57 (125,858.25) (139.68) S Quantity (16,000.000) Per Unit Amount 26.799 Proceeds 428,791.75 Tax Cost (400,000.00) Realized Gain/Loss 28,791.75 S* Account Page 20 of 27 Consolidated Statement Page 23 EFTA01539369 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Trade Date Settle Date 1/25 1/30 Type Selection Method Description Settled Sales/Maturities/Redemptions Sale FIFO WILLIAMS PARTNERS LP @ 62.578 187,734.00 BROKERAGE 150.00 TAX &/OR SEC 3.61 J.P. MORGAN SECURITIES LLC (ID: 96950E-10-4) Total Settled Sales/Maturities/Redemptions $1,395,979.54 ($1,368,165.78) $27,813.76 S Quantity (3,000.000) Per Unit Amount 62.527 Proceeds 187,580.39 Tax Cost (188,430.00) Realized Gain/Loss (849.61) S Trade Date Settle Date Type Description Settled Securities Purchased 1/11 Purchase 1/17 1/11 1/17 1/12 1/18 1/13 1/19 1/12 1/19 1/18 1/23 1/17 1/24 Purchase EFTA01539370 Purchase Purchase Purchase Purchase Purchase TWO HBRS INVT CORP COM @ 9.17 J.P. MORGAN SECURITIES LLC (ID: 90187B-10-1) SOUTHERN CAL EDISON 6 1/4% DEC 31 2049 DTD 01/17/2012 @ 100.00 JP MORGAN SECURITIES LLC (BIDL) (ID: 842400-FU-2) AMERICAN CAPITAL LTD 8.96% DEC 31 2013 DTD 06/28/2010 @ 102.00 JP MORGAN SECURITIES LLC (BIDL) (ID: 02503Y-AF-0) COPANO ENERGY LLC @ 34.03 J.P. MORGAN SECURITIES LLC (ID: 217202-10-0) LINN ENERGY LLC UNITS @ 35.95 J.P. MORGAN SECURITIES LLC (ID: 536020-10-0) TARGA RESOURCES PARTNERS LP @ 38.30 J.P. MORGAN SECURITIES LLC (ID: 87611X-10-5) FIRST REPUBLIC BANK/SF 6.7% PFD @ 25.00 J.P. MORGAN SECURITIES LLC (ID: 33616C-20-9) 2,000.000 4,000.000 1,250.000 30,500.000 34.03 35.95 38.30 25.00 (68,060.00) (143,800.00) (47,875.00) (762,500.00) 1,000,000.000 102.00 (1,020,000.00) Quantity 13,725.000 325,000.000 Per Unit Amount 9.17 100.00 Market Cost (125,858.25) (325,000.00) Account Page 21 of 27 Consolidated Statement Page 24 EFTA01539371 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Trade Date Settle Date Type Settled Securities Purchased 1/20 Purchase 1/25 1/20 1/25 1/25 1/30 1/25 1/30 1/26 1/31 1/24 1/31 Purchase Purchase Purchase Total Settled Securities Purchased Trade Date Type Est. Settle Date Selection Method Description Pending Sales, Maturities, Redemptions Sale 1/27 2/1 1/31 2/3 Sale FRANCESCAS HOLDINGS CORP (ID: 351793-10-4) FIRST REPUBLIC BANK/SF 6.7% PFD (ID: 33616C-20-9) Total Pending Sales, Maturities, Redemptions Quantity (3,150.000) (30,500.000) Per Unit Amount 23.15 25.072 Purchase Purchase Description BOARDWALK PIPELINE PARTNERS @ 27.55 J.P. MORGAN SECURITIES LLC (ID: 096627-10-4) ZIOPHARM ONCOLOGY INC @ 5.20 J.P. MORGAN SECURITIES LLC (ID: 98973P-10-1) EFTA01539372 ENTRY REVERSED ON 02/02/2012 GUIDEWIRE SOFTWARE INC @ 13.00 J.P. MORGAN SECURITIES LLC (ID: 40171V-10-0) WILLIAMS PARTNERS LP @ 62.81 J.P. MORGAN SECURITIES LLC (ID: 96950E-10-4) REPUBLIC OF ARGENTINA NOTES DEC 15 2035 DTD 11/01/2005 HELD BY EUROCLEAR ISIN US040114GM64 SEDOL BOS5NO3 (ID: 042993-9S-6) AEGON NV 8% PFD @ 25.00 J.P. MORGAN SECURITIES LLC (ID: 007924-60-8) 20,000.000 25.00 (500,000.00) ($4,294,685.75) Proceeds 72,764.06 763,175.22 $835,939.28 Tax Cost (72,450.00) (762,500.00) ($834,950.00) Realized Gain/Loss 314.06 S 675.22 S $989.28 S 3,000.000 7,500,000.000 62.81 13.90 (188,430.00) (1,038,750.00) Quantity 1,250.000 6,750.000 375.000 Per Unit Amount 27.55 5.20 13.00 Market Cost (34,437.50) (35,100.00) (4,875.00) Account Page 22 of 27 Consolidated Statement Page 25 EFTA01539373 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Trade Date Est. Settle Date Type Pending Securities Purchased 1/27 Purchase 2/1 1/30 2/2 1/31 2/7 Purchase Purchase Description FRANCESCAS HOLDINGS CORP (ID: 351793-10-4) SOUTHERN CAL EDISON 6 1/4% DEC 31 2049 DTD 01/17/2012 (ID: 842400-FU-2) REALTY INCOME CORP PFD 6 5/8% (ID: 756109-80-7) Total Pending Securities Purchased Quantity 3,150.000 5,000,000.000 20,000.000 Per Unit Amount 23.00 99.739 25.00 Market Cost (72,450.00) (4,986,950.00) (500,000.00) ($5,559,400.00) Account Page 23 of 27 Consolidated Statement Page 26 EFTA01539374 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Portfolio Activity Summary - Japanese Yen Beginning Cash Balance US Dollar Value Current Transactions OUTFLOWS ** Total Outflows Foreign Exchange - Outflows TRADE ACTIVITY Total Trade Activity Period Value -(125,734.17) ($125,734.17) Settled Securities Purchased Ending Cash Balance * Year to date information is calculated on a calendar year basis. ** Your account's standing instructions use a FIRST IN, FIRST OUT method for relieving assets from your position Portfolio Activity Detail - Japanese Yen INFLOWS & OUTFLOWS Per Unit Type Settle Date Selection Method 1/27 Spot FX Description SPOT CURRENCY TRANSACTION - SELL BUY USD SELL JPY EXCHANGE RATE 78.320000000 DEAL 01/25/12 VALUE 01/27/12 (ID: OJPYPR-AA-9) Quantity 125,734.170 Amount USD Local Value Amount USD Local Value (125,734.17) (9,847,500.00) Currency Gain/Loss USD (152.69) 125,886.86 $125,886.86 -Year-To-Date Value* -(125,734.17) ($125,734.17) 125,886.86 $125,886.86 EFTA01539375 -Local Value Current Period Value 0.00 (9,847,500.00) (9,847,500.00) 9,847,500.00 9,847,500.00 0.00 Year-To-Date Value* -(9,847,500.00) (9,847,500.00) 9,847,500.00 9,847,500.00 -Account Page 24 of 27 Consolidated Statement Page 27 EFTA01539376 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 TRADE ACTIVITY - Japanese Yen Per Unit Trade Date Settle Date 1/25 1/27 Type Settled Securities Purchased Write Option Description Quantity BRL PUT JPY CALL FX EUROPEAN STYLE OPTION JAN (4,588,235.290 ) 24, 2013 @ 42.5 KO @ 46.5 WRITTEN FX OPTION PUT 4,588,235.29 BRL CALL 195,000,000.00 JPY (ID: XBRLPA-GQ-Z) Amount USD Local Value 0.027 5.05 Market Cost USD Local Value 125,886.86 9,847,500.00 Currency Gain/Loss USD Account Page 25 of 27 Consolidated Statement Page 28 EFTA01539377 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Portfolio Activity Summary - Yuan Renminbi Beginning Cash Balance US Dollar Value Current Transactions INFLOWS Total Inflows Foreign Exchange - Inflows OUTFLOWS ** Total Outflows Period Value -10,171,102.66 $10,171,102.66 Foreign Exchange - Outflows Ending Cash Balance * Year to date information is calculated on a calendar year basis. ** Your account's standing instructions use a FIRST IN, FIRST OUT method for relieving assets from your position Portfolio Activity Detail - Yuan Renminbi INFLOWS & OUTFLOWS Per Unit Type Settle Date Selection Method 1/18 1/18 FX Fwd Contract FX Fwd Contract Total Inflows & Outflows Account Page 26 of 27 Description SETTLE FORWARD CURRENCY CONTRACT BUY CNY SELL USD CONTRACT RATE : 6.420000000 TRADE 1/13/11 VALUE 1/18/12 (ID: OCNYPR-AA-6) SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL CNY CONTRACT RATE : 6.381500000 TRADE 10/05/11 VALUE 1/18/12 (ID: OCNYPR-AA-6) $0.00 $60,330.64 Consolidated Statement Page 29 10,060,330.640 (10,171,102.66) (64,200,000.00) (110,772.02) Quantity (10,000,000.000 ) Amount USD Local Value Amount USD EFTA01539378 Local Value 10,171,102.66 64,200,000.00 Currency Gain/Loss USD 171,102.66 (10,171,102.66) ($10,171,102.66) -Year-To-Date Value* -10,171,102.66 $10,171,102.66 (10,171,102.66) ($10,171,102.66) -Local Value Current Period Value 0.00 64,200,000.00 64,200,000.00 (64,200,000.00) (64,200,000.00) 0.00 Year-To-Date Value* -64,200,000.00 64,200,000.00 (64,200,000.00) (64,200,000.00) EFTA01539379 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Settled Foreign Exchange Contracts Currency Trade Date Settle Date Counter Currency Trade Related JAPANESE YEN U S DOLLAR Speculative YUAN RENMINBI U S DOLLAR YUAN RENMINBI U S DOLLAR Jan. 13 11 Jan. 18 12 Oct. 5 11 Jan. 18 12 CNY USD CNY USD 64,200,000.00 (10,000,000.00) (64,200,000.00) 10,060,330.64 6.420000 6.381500 6.312000 6.312000 (10,000,000.00) 10,060,330.64 10,171,102.66 (10,171,102.66) 171,102.66 (110,772.02) Jan. 25 12 Jan. 27 12 JPY USD Amount Counter Amount Contract Rate Revaluation Rate (9,847,500.00) 125,734.17 78.320000 78.225003 Contracted Base Amount USD 125,734.17 Revalued Amount USD EFTA01539380 (125,886.86) Currency G/L (152.69) Account Page 27 of 27 Consolidated Statement Page 30 EFTA01539381 THIS PAGE INTENTIONALLY LEFT BLANK EFTA01539382 J.P. Morgan Securities LLC FINANCIAL TRUST COMPANY INC 383 Madison Avenue, New York, NY 10179 ACCT. For the Period 1/1/12 to 1/31/12 Margin Account J.P. Morgan Team Paul Morris Paul Barrett Janet Young Gina Magliocco Online access Banker Investment Specialist Client Service Team Client Service Team www.MorganOnline.com Transactions cleared and carried through J.P. Morgan Clearing Corp. Three Chase Metrotech Center, Brooklyn, NY 11245-0001, (347) 643-2578 Please see disclosures located at the end of this statement package for important information relating to each J.P.Morgan account(s). Table of Contents Account Summary Holdings Equity Cash & Fixed Income Portfolio Activity Page 2 4 5 7 Account Page 1 of 7 Consolidated Statement Page 31 EFTA01539383 FINANCIAL TRUST COMPANY INC Account Summary MARGIN Cash Asset Allocation Equity Cash & Fixed Income Market Value Market Value 0.00 0.00 $0.00 Margin Market Value 0.00 299,523.05 $299,523.05 Current Portfolio Activity Beginning Market Value Withdrawals & Fees Net Contributions/Withdrawals Change In Investment Value Ending Market Value Period Value 299,802.94 (24.89) ($24.89) (345.00) $299,433.05 Short Market Value (26,130.00) 26,040.00 ($90.00) Year-to-Date Value 299,802.94 (24.89) ($24.89) (345.00) $299,433.05 Total (26,130.00) 325,563.05 Estimated Current Market Value Annual Income Allocation (2,568.00) $299,433.05 ($2,568.00) EFTA01539384 100% 100% ACCT. For the Period 1/1/12 to 1/31/12 Account Page 2 of 7 Consolidated Statement Page 32 EFTA01539385 FINANCIAL TRUST COMPANY INC Account Summary CONTINUED Tax Summary Unrealized Gain/Loss Cost Summary Equity Cash & Fixed Income Total 325,563.05 Cost $295,483.42 (30,079.63) Investment Objectives Speculation Permitted Capital Appreciation ACCT. For the Period 1/1/12 to 1/31/12 To-Date Value $3,949.63 Yes Yes Account Page 3 of 7 Consolidated Statement Page 33 EFTA01539386 FINANCIAL TRUST COMPANY INC Equity Summary Asset Categories Non-US Equity Beginning Market Value (25,785.00) Ending Market Value (26,130.00) Change In Value (345.00) Current Allocation ACCT. For the Period 1/1/12 to 1/31/12 Current Market Value/Cost Market Value Tax Cost Unrealized Gain/Loss Estimated Annual Income Equity Detail Price Non-US Equity TELEFONICA S A SPONS ADR 879382-20-8 TEF Quantity Account Value Adjusted Tax Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield Period Value (26,130.00) (30,079.63) 3,949.63 (2,568.00) 17.42 (1,500.000) Short (26,130.00) (30,079.63) 3,949.63 (2,568.00) EFTA01539387 9.83% Account Page 4 of 7 Consolidated Statement Page 34 EFTA01539388 FINANCIAL TRUST COMPANY INC Cash & Fixed Income Summary Beginning Asset Categories Cash Market Value 325,587.94 ACCT. For the Period 1/1/12 to 1/31/12 Ending Market Value 325,563.05 Change In Value (24.89) Current Allocation 100% Current Market Value/Cost Market Value Tax Cost SUMMARY BY MATURITY 1 Cash & Fixed Income 0-6 months 1 Period Value 325,563.05 325,563.05 SUMMARY BY TYPE Market Value 325,563.05 % of Bond Portfolio 100% The years indicate the number of years until the bond is scheduled to mature based on the statement end date. Some bonds may be called, or paid in full, before their stated maturity. Cash & Fixed Income Cash Market Value 325,563.05 % of Bond Portfolio 100% Account Page 5 of 7 Consolidated Statement Page 35 EFTA01539389 EFTA01539390 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Cash & Fixed Income Detail Quantity Price Cash US DOLLAR US DOLLAR Total Cash 1.00 1.00 299,523.05 Margin 26,040.00 Short 299,523.05 26,040.00 $325,563.05 299,523.05 26,040.00 $325,563.05 $0.00 $0.00 0.00% Account Value Adjusted Tax Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield Account Page 6 of 7 Consolidated Statement Page 36 EFTA01539391 FINANCIAL TRUST COMPANY INC ACCT. For the Period 1/1/12 to 1/31/12 Portfolio Activity Summary Beginning Cash Balance Transactions Short Fees Charged OUTFLOWS ** Total Outflows Ending Cash Balance Current Period Value 325,587.94 (24.89) ($24.89) $325,563.05 * Year to date information is calculated on a calendar year basis. ** Your account's standing instructions use a FIRST IN, FIRST OUT method for relieving assets from your position Portfolio Activity Detail INFLOWS & OUTFLOWS Type Settle Date Selection Method 1/9 1/9 1/17 1/17 1/23 1/23 1/23 Description Mark to Market Adj MARK TO MARKET SHORT POS SUB-ACCOUNT: SHT Mark to Market Adj MARK TO MARKET SUB-ACCOUNT: MGN Mark to Market Adj MARK TO MARKET SHORT POS SUB-ACCOUNT: SHT Mark to Market Adj MARK TO MARKET SUB-ACCOUNT: MGN Mark to Market Adj MARK TO MARKET SUB-ACCOUNT: MGN Mark to Market Adj MARK TO MARKET SHORT POS SUB-ACCOUNT: SHT SHORT DEBIT FEE 12/21-01/20 SUB-ACCOUNT: MGN Misc Debit Total Inflows & Outflows Account Page 7 of 7 Quantity Cost Per Unit Amount Amount (1,035.00) 1,035.00 570.00 (570.00) (600.00) 600.00 EFTA01539392 (24.89) ($24.89) Consolidated Statement Page 37 Year-To-Date Value* -(24.89) ($24.89) EFTA01539393 THIS PAGE INTENTIONALLY LEFT BLANK EFTA01539394 For the Period 1/1/12 to 1/31/12 For your convenience we have combined statement(s) for activity you conduct through J.P. Morgan in one package. Below are important disclosures relating to these different accounts. These statements may relate to various account types. Some of the disclosures are applicable to all of your accounts. For ease of reference the disclosures applicable to a particular type of account have been grouped together by descriptive headers. IMPORTANT GENERAL INFORMATION APPLICABLE TO ALL OF YOUR ACCOUNT(S) Important Information about Pricing ,Valuations, Estimated Annual Income, and Estimated Yield Market value information (including without limitation, prices, exchange rates, accrued income and bond ratings) furnished herein, some of which has been provided by pricing sources that J.P. Morgan believes to be reliable, is not guaranteed for accuracy but provided for informational purposes and is furnished for the exclusive use of the client. The current price is the value of the financial asset share, unit or contract as priced at the close of the market on the last day of the statement period or the last available price. All values provided for structured yield deposits (for example, JPMorgan London Time Deposits) reflect the original deposit amount only. The value for Real Estate, Mineral Interests and Miscellaneous Assets may not reflect the most current value of the asset. Certain assets including but not limited to, pooled and private investments, non-publicly traded and infrequently traded securities, derivatives, partnership interests and tangible assets are generally illiquid, the value of such asset may have been provided to us by third parties who may or may not be independent of the issuer or manager. Such information is reflected as of the last date provided to us, and is not independently verified. Important information regarding Auction Rate Securities (ARS). ARS are debt or preferred securities with an interest or dividend rate reset periodically in an auction. Although there may be daily, weekly and monthly resets, there is no guarantee that there will be liquidity. If there are not enough bids at an auction to redeem the securities available for sale, the result may be a failed auction. In the event of a failed auction, there is no assurance that a secondary market will develop or that the security will trade at par or any other price reflected on statements and online. Accordingly, investors should not rely on pricing information appearing in their statements or online with respect to ARS. Where J.P. Morgan was unable to obtain a price from an outside service for a particular ARS, the price column on your statement and online will indicate "$0.00" which should not be relied on as the price at which ARS would trade. J.P. Morgan makes no representation, warranty or guarantee, express or implied, that any quoted value represents the actual terms at which transactions or securities could be bought or sold or new transactions could be entered into, or the actual terms on which existing transactions or securities could be liquidated. Such values may only be indicative. Valuations of over-the-counter derivative transactions, including certain EFTA01539395 derivatives-related deposit products, have been prepared on a mid-market basis. These valuations are derived from proprietary models based upon well-recognized financial principles and we have, when necessary to calculate the present value of future cash flows, made reasonable estimates about relevant future market conditions. Valuations based on other models or different assumptions may yield different results. J.P. Morgan expressly disclaims any responsibility for (1) the accuracy of the models or estimates used in deriving the valuations, (2) any errors or omissions in computing or disseminating the valuations, and (3) any uses to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. Please refer to the trade confirmation for details of each transaction. If a partial call is made with respect to an issue of securities included in your Accounts we will allocate the call by a method we deem fair and equitable. To the extent applicable, please note the following regarding estimated annual income (EAI) and estimated yield (EY): EAI and EY for certain types of securities could include a return of principal or capital gains in which case the EAI and EY would be overstated. EAI and EY are estimates and the actual income and yield might be lower or higher than the estimated amounts. EY reflects only the income generated by an investment. It does not reflect changes in its price, which may fluctuate. Offshore Deposits - London and Nassau Deposits in Foreign Branches are not insured by the FDIC or any other Agency of the Federal Government; amounts in such foreign accounts do not have the benefit of any domestic preference applicable to U.S Banks; certain Foreign accounts are considered reportable to the Internal Revenue Service on a Report of Foreign Bank and Financial Accounts (TD F 90-22.1). Disclosures Page 1 of 4 EFTA01539396 For the Period 1/1/12 to 1/31/12 Bank products and services are offered through JPMorgan Chase Bank, N.A. ("JPMCB") and its banking affiliates. Securities are offered by J.P.Morgan Securities LLC ("JPMS") and, to the extent noted below, cleared through J.P. Morgan Clearing Corp. ("JPMCC"). Neither JPMS, nor JPMCC is a bank and are each separate legal entities from its bank or thrift affiliates. Investment Products: Not FDIC Insured -No Bank Guarantee -May Lose Value Fund manager disclosure information available upon request If you have an investment account that is managed by an SEC-Registered Investment Advisor, J.P. Morgan will provide a copy of the advisor's Form ADV II or brochure upon written request. These statements are not official documents for income tax reporting purposes and should not be relied upon for such purposes, including determination of income, cost basis, amortization or accretion, or gain/loss. Such information, which may be inaccurate, incomplete or subject to updating, should be confirmed with your records and your tax advisor. Please take the steps indicated below if you think statement(s) are incorrect or contact your J.P.Morgan team if you require additional information about a transaction on your statement(s). IMPORTANT ADDITIONAL INFORMATION APPLICABLE ONLY TO YOUR ASSET ACCOUNT(S) (LINKED TO JPMS) Your Asset Account consists of a bank account that custodies assets linked to a brokerage account through which securities transactions are executed. As a result, the Asset Account statement(s) reflect brokerage transactions executed through JPMS but (except for exchange listed options) held in custody at JPMCB. Securities purchased or sold through JPMS in U.S. markets (other then mutual funds) are cleared through an affiliate of JPMS, in non-U.S. markets securities are cleared through JPMS. Positions in exchange-listed options are held by JPMCC. For your convenience, however, positions in exchange-listed options are presented in Asset Account statement(s) together with other assets held in such account(s). All pertinent information about your settled and pending purchases and sales effected through your JPMS account during the period covered by these statement(s), is summarized in the "Trade Activity" portion of the statement(s). In Case of Other Errors or Questions About Your Asset Account Statement(s) Please review your statement(s) and promptly report any inaccuracy or discrepancy including possible unauthorized trading activity, unrecorded dividend payments, unaccounted cash positions, improper payments or transfers in writing to both the introducing broker, JPMS and the clearing firm, JPMCC at the addresses shown on your statement(s). Any oral communication should be re-confirmed in writing to further protect your rights, including your rights under the Securities Investor Protection Act (SIPA). If you have any questions please contact your J.P.Morgan team. In your written communication, please provide the following information: (1) EFTA01539397 your name and account number; (2) the dollar amount of the suspected error; and (3) a description of the error and explanation, if you can, why you believe there is an error. If you need more information, you must describe the item you are unsure about. We must receive your written communication no later than 30 days after the statement on which the error or problem appeared is sent or made available. If you do not so notify us, you agree that the statement activity and account balance(s) are correct. JPMCC and JPMS are members of the Securities Investor Protection Corp ("SIPC"), a not-for-profit membership corporation funded by broker-dealers registered with the Securities and Exchange Commission. Securities and cash held for a customer at JPMCC are protected by SIPC up to $500,000 per customer, which includes up to $250,000 of protection for cash. SIPC does not protect against losses from fluctuations in the value of the securities. Assets held in custody by JPMCB are not subject to SIPC. You may obtain information about SIPC, including the SIPC Brochure, on their website, at "www.sipc.org" or by contacting them at (202) 371-8300. In Case of Errors or Questions About Your Electronic Transfers. Disclosures Page 2 of 4 EFTA01539398 For the Period 1/1/12 to 1/31/12 Contact your J.P. Morgan Team at one of the telephone numbers on the front of your statements or write us at J.P. Morgan, 500 Stanton Christiana Road, 1/OPS3, Newark, DE 19713-2107 as soon as you can, if you think your statement is wrong or if you need more information about a transfer on the statement. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number. (2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days (or 20 business days for new accounts) to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. In Case of Errors or Questions About Non-Electronic Transfers (Checks or Deposits) Contact JPMorgan Chase Bank, N.A. ("JPMCB") Member FDIC immediately if a statement is incorrect or if you need more information about any non- electronic transactions (checks or deposits) on this statement. If any such error appears, you must notify the bank in writing as soon as possible after your statement was made available to you. For more complete details, see the applicable account agreements and appendices that govern your account. Deposit products and services are offered by JPMCB Member FDIC. You must promptly advise your J.P.Morgan representative of material changes in your investment objectives or financial situation or if you wish to modify the management of your account. Unless you inform otherwise, your J.P.Morgan representative will consider the information currently in its files to be complete and accurate. With reference to JPMS and JPMCC: A financial statement of this organization is available to you for personal inspection at its offices, or a copy will be mailed to you upon written request. You should have received (or have made available to you) separate confirmations for each securities transaction. All transactions are subject to the terms and conditions stated on the reverse side of such confirmations and are subject to the constitution, by-laws, customs and interpretations of the marketplace where executed and governed by and construed in accordance with the laws of the State of New York and all applicable federal laws and regulations. Further information with respect to commissions and other charges related to the execution of transactions, including options transactions, has been included in confirmations that were previously furnished or have made available to you. Upon written request, JPMS will promptly supply you with the latest information. IMPORTANT ADDITIONAL INFORMATION APPLICABLE ONLY TO YOUR MARGIN ACCOUNT(S) All positions in your Margin Account Portfolio(s) are held in custody at J.P. Morgan Clearing Corp. ("JPMCC"), Three Chase Metrotech Center, Brooklyn, NY 11245-001, (347) 643-2578. EFTA01539399 If you have a margin account as permitted by law we may use certain securities in such account for, among other things, settling short sales and lending the securities for short sales, and as a result may receive compensation in connection therewith. Please keep the following in mind when using a statement to track your brokerage activity in a margin account: The statement combines your general margin account with the special memorandum account required by Section 220.6 Regulation T. As required by Regulation T, a permanent record of your separate account is available upon your request. Free credit balances in your margin account(s) are not segregated and may be used in the operation of JPMCCs business, subject to the limitations of SEC Rule 15c3-3. Unless otherwise noted, JPMCC or its agents and depositories will hold your securities. Upon your demand, JPMCC will pay to you the amount of your free credit balance, and will deliver to you fully-paid securities held on your behalf. Interest will be charged on any debit balance; the method of calculating interest is described in a letter sent to all margin customers. PRODUCT RELATED DISCLOSURE: IMPORTANT INFORMATION ABOUT ALTERNATIVE INVESTMENTS: FOOTNOTES 1 - 4 Private Equity, Hedge Funds, Exchange Funds, Real Estate and Other Alternative Assets 1. Direct private equity investments and pooled private investments (e.g., interests in limited partnerships and limited liability companies) are generally illiquid securities. Values are estimates only and are not warranted for accuracy or completeness. Values do not represent the actual terms at which transactions or securities could be bought or sold or new transactions could be entered into or the actual terms on which existing transactions could be liquidated as of the date of this statement. Disclosures Page 3 of 4 EFTA01539400 For the Period 1/1/12 to 1/31/12 Direct private equity investments are generally valued at cost, unless there is an active secondary trading market in the securities, in which case, direct private equity investments are valued using market prices as of the close of the last business day for this statement period. Pooled private equity investments are valued according to the General Partner's or Manager's stated methodology. Please refer to the limited partnership agreement, limited liability company agreement or other operative documentation for each investment for the specific valuation methodology used by the General Partner or Manager for that investment or for your Investment Management or Trust account contact your J.P. Morgan team. J.P. Morgan expressly disclaims any responsibility for (1) the accuracy of the information and the methodology used by the General Partner or Manager in deriving valuations, (2) any errors or omissions in compiling or disseminating the valuations, and (3) any use to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. Hedge funds generally calculate the price (the "Net Asset Value" or " NAV"), 10-15 business days following the last business day of the month. For that reason, hedge fund NAVs shown will generally be the NAV of the month preceding this statement period. In general, the NAV is stated net of management and incentive fees. The NAV is calculated according to the General Partner's or Manager's stated methodology. Please refer to the limited partnership agreement, limited liability company agreement or other operative documentation for each hedge fund for the specific methodology used by the General Partner or Manager for that hedge fund or for your Investment Management or Trust account contact your J.P. Morgan team. J.P. Morgan expressly disclaims any responsibility for (1) the accuracy of the information and the methodology used by the General Partner or Manager in deriving valuations, (2) any errors or omissions in compiling or disseminating the valuations, and (3) any use to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. These statements do not provide tax reporting on private investments. Please continue to rely upon the General Partner or Manager of the investment vehicle for this information or for your Investment Management or Trust account contact your J.P. Morgan team. 2. The 'Capital Called Since Inception USD' and 'Cash/Security distributions Since Inception USD' columns are updated monthly to reflect activity (capital calls and distributions), if any. 3. Hedge funds generally allow subscriptions on a monthly or quarterly basis. An interest in a hedge fund or hedge fund of funds is generally as of the first business day of the subscription period. Due to early funding requirements by the applicable fund, your account may be debited for the subscription amount prior to the subscription date. Please refer to the applicable hedge fund's operative documentation for further details or for your Investment Management or Trust account contact your J.P. Morgan team. Hedge fund redemptions are generally on a monthly, quarterly or annual basis EFTA01539401 but can sometimes be subject to a multi-year lockup before a redemption is permitted. For redemptions, there is generally a notification period that can be a long interval before the actual redemption date. Redemption proceeds are generally paid 15 calendar days after the final NAV is issued, but can be subject to a holdback of a portion of the proceeds until an annual audit of the Fund has been completed. Please refer to the applicable hedge fund's operative documentation for further details or for your Investment Management or Trust account contact your J.P. Morgan team. Global Access Portfolios share certain characteristics with hedge funds. In particular, an investor who withdraws from a Global Access Portfolio will not receive the withdrawal proceeds in their entirety until 30-60 days after completion of the Portfolio's audit, which may be 18 months or longer after the redemption date. Interest might not be paid on any proceeds pending distribution. These restrictions apply even if the investor's account at JPMorgan is closed. The Confidential Private Placement Memorandum and applicable Supplements contain other important information about the Global Access Portfolios and are available upon request or for your Investment Management or Trust account contact your J.P. Morgan team. 4. Alternative assets may include publicly available mutual funds that utilize non-traditional investment management strategies, for example, strategies commonly employed by hedge funds. Mutual funds generally calculate the price (the "Net Asset Value" or "NAV") on a daily basis and mutual fund NAVs shown on your statement generally will be the NAV as of the close of the last business day for this statement period. Please refer to the applicable mutual fund prospectus for further details. If the applicable mutual fund is a JPMorgan Fund, please refer to disclosures on this statement concerning JPMorgan Funds for other important information. Disclosures Page 4 of 4 EFTA01539402