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efta-efta00196734DOJ Data Set 9Other

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DOJ Data Set 9

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EFTA 00196734

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EFTA Disclosure

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Statements EFTA00196734 CLEARED THROUGH ITS stitekly 0s1h.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE LICHERMAN.IRA 67AV uearstearns.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 5 Fund Activity 10 Trades Not Yet Settled 13 Your Messages 13 Your Portfolio at a Glance TOTAL VAWE OF SECURITIES THIS PERIOD 53,738,664 MONEY MARKET FUND BALANCE 65,990,490 Cash 8 Equvalent NET EQUITY THIS PERIOD $119,729,154 NET EQUITY LAST STATEMENT 53,338,121 CHANGE SINCE LAST STATEMENT 66,391,034 There are no 'Stop Lose orders or other pending buy or sell open orders on file for your account. Equities Roza ropan any Manse a nonracial of tucks or stocks. cattalo! as &Wow to sou. N Ow Swan at 50061.114211: a vat to Clam Somas. a BOW. Steam &cum.& Cad. One lAttrolach Carta North. Broollsn, NY. I12014054 IIII Ill I I 1111111111111111111111111111111111111 FINANCIAL TRUST COMPANY INC C/O AMERICAN YACHT HARBOR 6100 RED HOOK SUTE 6-3 OUAETERS #2 ST THOMAS VI 00802-1348 Market Value of Your Portfolio I $.28.399.636 $65.990.490 $53.738,664 $81.737.756 Current market vaue WE Last statements market value Short market value Beer. Szewns Sec,riett Core Ce4 Meal:tech Corder North Beccohn. Hew Yak 11201.3559 FINANCIAL TRUST COMPANY INC STATEMENT PERICO December 1.2004 THROUGH December 31.2004 ACCOUNT NUMBER TAXPAYER 141.4113ER On File LAST STATEMENT November 30.2004 Sipc TNE IstothuY Is dialdatalal Sands*. aly era teen Molar dor:wort TN% stalwart should be Maned Su your records Sea mend see let npalart arom:as 027 01,01005:09:IS 001 Important Message II any information regarding 2004interesl. dividends. miscellaneous income, gross proceeds or original issue discount is required to be reported to the IRS for this account, a Consolidated Form 1099 will be mailed to you by January 31.2005or a 1042Sby March 15.2005. YS47 EFTA00196735 CLEARED 1HROUGH RS wilekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, b81 00,8. Ceol.levalech Cantet Noah Broeklln• New Volt 11201.3859 FINANCIAL TRUST COMPANY INC 2 oi la STATEMENT BACKER IS PRINTED ON THIS PAGE 027 Db01,05:09:18 001 YSS7 EFTA00196736 CLEARED 1HRWGH ?AIM? OMnE0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 3 Cash Flow Analysis THIS PERIOD Cash Balance Summary CeENN3 CLOSCIO Opening Balance $-28.399.635.50 Margin -28.399.635.50 0.00 Securities Sold 76,155,563.42 Net Cash Balance $-28,399.635.50 $0.00 Money Fund 305.229.36 Funds Deposited 28,974,025.30 Dividendsllnterest 240.796.00 Miscellaneous 35,500,000.00 Income Summary ThaS PERM YEM TO DATE Amount Credited $141.175.614.08 Dividends 240.796.00 1.373.296.60 Substilule Payment 0.00 85.222.00 Securities Bought -46,416,875.96 Credit Balance Int. 0.00 398.34 Money Fund -66,295,719.71 Funds Withdrawn -12.500.00 Total $240,796.00 $1.458.916.94 Dividendsllnterest Charged -50.882.91 Foreign Tax Withheld 0.00 -2,033.91 Margin Int. Paid -50.882.91 -549,945.53 Amount Debited 6-112,775.978.58 Net Cash Activity 28,399,635.50 Closing Balance $0.00 Portfolio Composition Sam* di/ irantfOot a oath bemoan accost twos MC not inclubd in Ms smnon such tranfies. as well as Meals la as one traosachros Hs Rood. oftMer on Tr...a-bon Doml Cash/Cash Equivalent Equities 65.990.490 53.738.664 Total $119.729.154 Beer. Stearns SOC‘robel Cap. Ore Mevolech Conte Noah eeCCidon. New Tuft 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT occo00 December 1.2004 THROUGH December 31.2004 ACCOUNT NUMBER TAXPAYER WESER On File LAST STATEMENT Novernter 30.2004 Your Portfolio Allocation 027 D01.0503:18 001 Cash & Equivale 56% Equities 44% Unnnled croons oenme Oat 014, O, 'nett Or, male vela, The ol000m ;event'', is dewed Icon Va ettal.te motet rat), (11 >CV POrtkol. 1867 EFTA00196737 CLEARED THROUGH ITS wilekLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESORPTION STAIBCCPCUSIP DREYFUS CASH MANAGEMENT-CL A DICXX INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD &MOO& TOTAL CASH & CASH EQUIVALENTS QUANTITY 65.990.490.35 MARIS ESTIMATED CURRBVT PRICE VALUE AAPOJAL INCOME VELD i41 1.0000 65.990.490 1.121 838 1.7000 565.990.490 $1.121.838 EQUITIES BOP. SZeirns SON, b81 Cory. Ore Metsolech Contof Noah Beccidon. New Ye* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD December 1.2004 THROUGH December 31.2004 ACCOUNT NUMBER TAXPAYER MASSER On FIk LAST STATEMENT November 30.2004 Equities & Options 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 where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available. The various providers have normalized their ratings systems as follows: B = Buy; H = Hold; S = Sell. The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider, The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at wvv.bearsteams,com or can call (800) 517-2327 to request that a copy of this research be sent to them, DESCRPTION STAIBWCIASIP ACCT 111.£ QUANTITY PRCE ?WWI VAL-E ESTIAME0 ANIMA-INCOME CURRENT YELD ICU BEAR STEARNS COMPANIES INC BSC CASH 300.000 102.3100 30.693.000 300,000 0.9774 DEERFIELD TRIARC CAP CORP 244572202 CASH 1.000.000 15.0000 15.000.000 ACCREDITED INVESTORS IFIL(IST FIN ITAL) IFPSF CASH 100,000 4.5140 451.400 8,400 1.8609 EURI INVST CL KERZNER INTERNATIONAL LTD KZL CASH 4.400 60.0500 264.220 027 Olitle05:09:18 001 '.86/ EFTA00196738 CLEARED THROUGH nS vAgNly 095E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New VOTE Non York 10179 5 ri Your Portfolio Holdings (continued) Equities & Options (continued) DESCRIPTION SYMBOGLESIP ACCT TYPE MANGY MICE MONET VALUE ESTIMATED ANNUAL MOW LERITSVT YELL/ rA) TOO INC BSC RATING: STOCK P!SECTOR MW GARP RESEARCH RATING: B VECTOR GROUP LTD WYNN RESORTS LTD TOO VGR WYNN CASH CASH CASH 50,000 326,990 10,000 24.4600 16.6300 66.9200 1.223.000 5.437.844 669.200 523.184 9.6212 Total Equities& Options $53.738.664 $831,584 TOTAL EQUITIES $53.738.664 $831,584 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1.953.422 YOUR PRICED PORTFOLIOHOLDINGS $119.729.154 Transaction Detail INVESTMENT ACTIVITY 8038r.Szvavn SOC7H*1 GOP. CeoLlevoiech Canny Noah Becdoon. New Ye* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD December 1.2004 THROUGH December 31.2004 ACCOUNT NUMBER TAXPAYER MAGER On File LAST STATEMENT November 30. 2004 SETTLEMENT DATE TRADE DATE TRANSACTION CESCRPTION SITABOLCUSP CUNNTiT7 PRCE DEGT AMCW4T GREG T NA0-5T 12'01/04 JOURNAL WALT DISNEY CO HOLDING CO DIS 250.000 JOURNAL FROM TYPE 1 TO 2 12/01/04 JOURNAL FLEXTRONICS INTERNATIONAL FLEX 100.000 LTD JOURNAL FROM TYPE 1 T02 027 DIVI,EISC9:18 001 .86? EFTA00196739 CLEARED THROUGH ITS 0%M.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & CO. Inc. 383 Madison Avenue New York, New York 10179 6 ri Transaction Detail (continued) INVESTMENT ACTIVITY (continued) SETTLEMENT TRADE DATE DATE TRANSACTION DESORPTION SYMEKVCUSP ovomin. perCE TAXPAYER K1. ER OR File LAST STATEMENT November 30.2004 DEBIT AMOUNT CgE0T PAW:, 12/01/04 JOURNAL WALT DISNEY CO HOLDING CO DIS 250,000 JOURNAL FROM TYPE 1 TO 2 12/01/04 JOURNAL FLEXTRONICS INTERNATIONAL FLEX 100.000 LTD JOURNAL FROM TYPE 1 TO 2 12/03/04 11/30/04 BOUGHT BEAR STEARNS COMPANIES INC BSC 300,000 97.15000 29.163.005.00 UNSOLICITED BEAR. STEARNS & CO. INC. IS A 12/06/04 12101/04 BOUGHT SUBSIDIARY OF THE ISSUER, BEAR STEARNS COMPANIES INC BSC 100 100.00000 10.080.00 UNSOLICITED BEAR. STEARNS & CO. INC. IS A SUBSIDIARY OF THE ISSUER. 12/09/04 JOURNAL BANK OF AMERICA CORP BAC 100.000 JOURNAL FROM TYPE 2 TO I 12/09/04 JOURNAL VECTOR GROUP LTD VGR 6.300 JOURNAL FROM TYPE 2 TO I 12/09/04 JOURNAL BANK OF AMERICA CORP BAC -100.000 JOURNAL FROM TYPE 2 TO I 12/09/04 JOURNAL VECTOR GROUP LTD YGR -6.300 JOURNAL FROM TYPE 2 TO I 12/10/04 12/07/04 SOLD BANK OF AMERICA CORP BAC -100.000 46.52070 4,645,956.14 UNSOUCDED 12/10/04 12/07/04 SOLD WALT DISNEY CO HOLDING CO DIS -192.100 27.30910 5,234,424.35 WITH RIGHTS TO PURCHASE COMMON STK UNDER CERTAIN CIRCUMSTANCE UNSOLICITED 12/10/04 12/07/04 SOLD MEINA CORP KRB -322.800 26.23850 8.450.216.60 AVG PRICE SHOWN-DETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOUCITED Beer. SZeirns SON, bel Dap. Dec Metselech Cella Noah Beo:idon. New VC* I1201 .38S9 FINANCIAL TRUST COMPANY INC STATEMENT PER100 December 1.2004 THROUGH December 31.2004 *scow! NUMBER 027 01.01,DS:CB:18 001 V867 EFTA00196740 CLEARED THROUGH ITS wilekLY CAMPO SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 7 Transaction Detail (continued) INVESTMENT ACTIVITY (continued) SETTLEMENT TRADE DATE DATE TRANSACTION 12/10/04 12/07/04 SOLD DESORPTION TYCO INTERNATIONAL LTD UNSOLICITED Beer. szeirns socv,hei GOP Q-4 Mem:tech CarrIN Noah Beccidon. New VC* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD December 1.2004 THROUGH December 31.2004 ACCOUNT NUMBER TAXPAYER WIPER On Foe LAST STATEMENT NOverntoN 30.2004 SITABOLCUSP QUANTITY PPoCE Eat AMOUNT MOT AMOUNT TYC -100,000 34.16670 3.410.585.04 1010/04 12/07/04 BOUGHT TOO INC UNSOLICITED TOO 50.000 25.94890 1.300.450.00 12/10/04 12/07/04 SOLD VECTOR GROUP LTD VGA -50.000 16.10810 802381.15 UNSOLICITED SEE NOTE ON BACK 12/13/04 12/08/04 SOLD BANK OF AMERICA CORP AVG PRICE SHOWN-DETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED BAC -100.000 46.00870 4.594.757.33 12/13/04 12/08/04 SOLD VECTOR GROUP LTD VGR -6.300 16.14900 101353.31 AVG PRICE SHOWN-DETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED SEE NOTE'S ON BACK 1013/04 12/08/04 SOLD MBNA CORP AVG PRICE SHOWN-DETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED KRB -99.900 26.00240 3591.579.97 12/14/04 12/09/04 SOLD WALT DISNEY CO HOLDING CO DIS -557.900 27.29470 15.193.877.80 WITH RIGHTS TO PURCHASE COMMON STK UNDER CERTAIN CIRCUMSTANCE UNSOLICITED 12/14/04 12/09/04 SOLD MBNA CORP AVG PACE SHOWN-DETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED KRB -527.300 26.07600 13.717.910.05 12/15/04 TRANSFER BEAR STEARNS COMPANIES INC BSC -100 12/16/04 JOURNAL BEAR STEARNS COMPANIES INC JOURNAL FROM TYPE 2 TO I BSC 100 12/16/04 JOURNAL BEAR STEARNS COMPANIES INC JOURNAL FROM TYPE 2 TO I BSC 300.000 027 DIPIQS:09:18 001 YBS7 EFTA00196741 CLEARED THRWGH ITS ?RIMY 0%M.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & CO. Inc. 383 Madison Avenue New YY New York 10179 8 Transaction Detail (continued) INVESTMENT ACTIVITY (continued) SETTLEMENT TRADE DATE DATE TRANSACTOR CESCRIPITON 1016/00 JOURNAL TOO INC JOURNAL FROM TYPE 2 TO 1 STIOWCUSP GVANTITY TOO 50,000 PRICE Beer. SZeirhs SOC,r4M1 Gap. 0-41km:tech Cella Noah Beccidon. New VC* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERKO December 1.2004 THROUGH December 31.2004 AGLOW! NUMBER TAXPAYER WESER ON Foe LAST STATEMENT NOverTiteN 30.2004 DEBIT AMOUNT CREPT AMDUNT 12/16/04 JOURNAL VECTOR GROUP LTD JOURNAL FROM TYPE 2 TO I VGA 376,990 12/16/04 JOURNAL BEAR STEARNS COMPANIES INC JOURNAL FROM TYPE 2 TO I BSC -100 12/16/04 JOURNAL BEAR STEARNS COMPANIES INC JOURNAL FROM TYPE 2 TO I BSC -300.000 12/16/04 JOURNAL TOO INC JOURNAL FROM TYPE 2 TO I TOO -50,000 12/16/04 JOURNAL VECTOR GROUP LTD JOURNAL FROM TYPE 2 TO I VGA -376.990 12/20/04 12/15/04 SOLD WALT DISNEY CO HOLDING CO DIS -500.000 27 65060 13,794,971.48 WITH RIGHTS TO PURCHASE COMMON STK UNDER CERTAIN CIRCUMSTANCE AVG PRICE SHOWN-DETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT 12/21/04 12/16/04 SOLD FLEXTRONICS INTERNATIONAL FLEX -100.000 14.39250 1,439,211.32 LTD UNSOLICITED WE MAKE A MKT IN THIS SECURITY AVG PRICE: DETAILS ON REQUEST UNIT PRICE 14.462500 OfFEREtCE - 0.060000 12/21/04 12/16/04 SOLD MBNA CORP AVG PRICE SHOWN-DETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED KRB -50.000 27.68800 1,381,362.60 12/23/04 12/17/04 BOUGHT DEERFIELD TRIARC CAP CORP 244572202 1.000.000 15.00000 15.000.000.00 ACCREDITED INVESTORS PROSPECTUS UNDER SEPARATE MAIL 027 DIJOIDSt9:18 001 '.86/ EFTA00196742 CLEARED THROUGH ITS »Cu.? 0"ED SUBSIDIARY BffiR STffiRNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 9 ci Transaction Detail (continued) INVESTMENT ACTIVITY (continued) =WIT TRADE DATE DATE TRANSACT/3N DESORPTION SYMBOLCUSA' OVANTITY PRICE DEBIT AMOUNT GREW ~UHT 12/31/04 12/28/04 BOUGHT 12/31/04 12/28/04 SOLD 12/31/04 12/28/04 BOUGHT KERZNER INTERNATIONAL LTD AVG PACE SHOWN-DETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT AS OF 12/28/04 VECTOR GROUP LTD UNSOUCITED SEE NOTE ON BACK WYNN RESORTS LTD WE ARE ACTING AS PRINCIPAL & MARKET MAKER: COMMISSION FIELD IS A COMMISSCH EMINALENT - DETAILS ON REQUEST UNSOUCRED KZL VGA WYNN 4,400 -50.000 10.000 60.83340 16.00000 67.48000 267,935.96 675.405.00 796.976.28 TOTAL $-46.416,875.96 $76.155.563.42 DEPOSITS AND WITHDRAWALS Beer. SZetrn5 SOC,r,I*1 001111 Cr.* Metsoleeh Conte< Noah Beecidp. New Tc" 112014859 FINANCIAL TRUST COMPANY INC STATEMENT PERIN) December 1.2004 THROUGH December 31.2004 ACCOUNT NUMBER TAXPAYER AMMER On File LAST STATEMENT Novemter 30.2004 DATE TRAAISACTCN DESORPTION DEVI Amoutr CREDIT AMOUNT 12/01/04 FUNDS REC FNDS WIRED TO CITIBANK FROM 1.000.000.00 BANK 12/10/04 FUNDS REC FNDS WIRED TO CITIBANK FROM 10,021,975.30 12/13/04 FUNDS REC FNDS WIRED TO CITIBANK FROM 65.662.00 12/16/04 CHECK CK N 1ACCT 12.500.00 12/23/04 FUNDS REC FNDS WIRED TO CITIBANK FROM 2,886,388.00 027 DIVIDS:09:18 001 V867 EFTA00196743 CLEARED 1HRWGH ITS 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 10 Transaction Detail (continued) DEPOSITS AND WITHDRAWALS (continued) IPANSACT Ct. DATE DEBIT AlACKAR DESORFrION CREDIT AMOUNT 12/29/04 FUNDS REC FNDS WIRED TO CITIBANK FROM _SS TOTAL $-12,500.00 $28,974,025.30 15.000000.00 MONEY FUND ACTIVITY Beer. SZeirhs SOC,r4M1 CND Ore Mem:tech Ow:1N Noah Beccidon. New VC* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD December 1.2004 THROUGH December 31.2004 ACCOUNT NUMBER TAXPAYER WESER On Foe LAST STATEMENT November 30.2004 DATE ISOFDAT TRANSACTION DESORIPTCN SYLIDWOUSIP DUMMY PI CE CEBU AMOUNT CREDIT AMOUNT 12101/04 OPENINGBALANCE 0.00 1010/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A Da< 10.021.975.30 1.0000 10.021.975.30 INSTITUTIONAL SHARES 12/13/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DIC70C 7,523,745.39 1.0000 7.523.745.39 INSTITUTIONAL SHARES 12/14/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 28.911.787.85 1.0000 28.911.787.85 INSMUTIONAL SHARES 12/16/04 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -12.500 LOOOO 12.500.00 INSMUTIONAL SHARES 1021/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 1.564.662.49 LOOOO 1.564.662.49 INSMUTIONAL SHARES 12/23/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 2.976.388 1.0000 2.976.388.00 INSMUTIONAL SHARES 12/29/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 14.853.635.32 1.0000 14.853.635.32 INSTITUTIONAL SHARES 12/29/04 SOLD DREYFUS CASH MANAGEMENT-CL A DICXX -146.364S8 1.0000 146.364.68 INSMUTIONAL SHARES 12/30/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 443525.36 1.0000 443525.36 INSMUTIONAL SHARES 027 01,01,05D9:18 001 VS67 EFTA00196744 CLEARED THROUGH ITS VolCkLY CR1n.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 Transaction Detail (continued) MONEY FUND ACTIVITY (continued) DATE MDFDAY TRANSACTION DESORIPTCN SYLIDWOUSIP 12/31/04 SOLD DREYFUS CASH MANAGEMENT-Cl. A DOC( INSTITUTIONAL SHARES oumany PRIDE -146,364.68 1.0000 Beer. SZeIrns SON, bel GNP. Ore Montech CarrIN Noah Beccidon. New Yak 11201 3969 FINANCIAL TRUST COMPANY INC STATEMENT PERK* December 1.2004 THROUGH December 31.2004 ACCCUNT NUMBER TAXPAYER MAWR On PIM LAST STATEMENT November 30.2004 DEBIT AMOUNT CREDIT AMOUNT 146,364.68 12/31/04 CLOSINGBALANCE 65.990.490.35 TOTAL 5-66,295,719.71 5305,229.36 DIVIDENDS DESORPTION 12/2204 BANK OF AMERICA CORP REC 12.03104 PAY 12/22/04 SYMECuCvSIP OUN.RITY RAZE O) CENT AMOUNT CREDIT AMOUNT BAC 200.000 0.4500 90.000.00 12/30/04 VECTOR GROUP LTD REC 12/17104 PAY 1230/04 VGR 376.990 0.4000 150.796.00 TOTAL 5240.796.00 INTEREST DATE DESCRIPTION 12/21/04 INT DB 11/21 - BAL SY1.18CIJOUSIP OUN4MT RATE I%/ DENT AMOUNT CREW AMOUNT 50.882.91 TOTAL 50.882.91 02/ 01/01.05:09:18 001 Y867 EFTA00196745 CLEARED THROUGH ITS ?RIMY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 12 • Transaction Detail (continued) MISCELLANEOUS DATE MOVAT TRANSACTCN DESCRIPTION DENT AMOUNT MAT AMOUNT 12/02/04 JOURNAL JOURNAL FROM TYPE 1 T02 1.000.000.00 12/02/04 JOURNAL JOURNAL FROM TYPE 1 TO 2 1,000,000.00 12/08/04 JOURNAL JOURNAL FROM TYPE 1 TO 2 35.500.000.00 12/08/04 JOURNAL FROM 040-94084 35,500,000.00 12/08/04 JOURNAL JOURNAL FROM TYPE 1 TO 2 35,500,000.00 12/13/04 JOURNAL JOURNAL FROM TYPE 2 TO 1 2,761,972.75 12/13/04 JOURNAL JOURNAL FROM TYPE 2 TO 1 2.761.972.75 12/15/04 JOURNAL JOURNAL FROM TYPE 2 TO 1 28,911,787.85 12/15/04 JOURNAL JOURNAL FROM TYPE 2 TO 1 28,911,787.85 12/21/04 JOURNAL JOURNAL FROM TYPE 1 TO 2 50,882.91 12/21/04 JOURNAL JOURNAL FROM TYPE 2 TO 1 16,615,545.40 12/21/04 JOURNAL JOURNAL FROM TYPE 2 TO 1 16,615,545.40 12/21/04 JOURNAL JOURNAL FROM TYPE I TO 2 50,882.91 12/21_/04 JOURNAL JOURNAL FROM TYPE 2 TO 1 90,000.00 12/21J04 JOURNAL JOURNAL FROM TYPE 2 TO 1 90,000.00 TOTAL $-84,930.188.91 $120,430,188.91 Beer. SZeirns SON, b81 Cory. Ore Mon:tech CarrIN Noah Beccidon. New Ye* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD December 1.2004 THROUGH December 31.2004 ACCOUNT NUMBER TAXPAYER AVUSER On Foe LAST STATEMENT November 30.2004 027 01)01,05:09:18 001 Y887 EFTA00196746 CLEARED THRWGH TIE YiHWY Ch1T.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YOrk New York 10179 13 ci iS Trades Executed Pending Settlement Beer. Saea•r* SOC.r.t.f.1 GOO. 0 -4 Met.°tech Cella Noah Beccidon. Nev. Peer 11201.3869 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD December 1.2004 THROUGH December 31.2004 ACCCUNT NUMBER TAXPAYER IMMER OR File LAST STATEMENT November 30.2004 SETTLEMENT DATE TRADE DATE TRANSACTION DESORPTION SY1A3ONCUSIP CVANTITY viva DENT AMOUNT GRECO AMOUNT 01/03/05 12/29/04 L 5.600.00 60.6252 339,842.12 AVG PRICE S$DWN-DETAILS ON REO ACTUAL CaFIRM TO YOUR AGENT UNSOLICITED 01/03/05 12/29/04 SOLD VECTOR GROUP LTD VGR -50.000.00 16.2500 809.475.98 UNSOLICITED SEE NOTE 5 ON BACK TOTAL $339.842.12 $809,475.98 The aim* woos et nn appear in any Mho/ section of MU Raiment Your messages As part of the National Association of Securities Dealer's (NASD) Investor Education Program, you may obtain information on the NASD's Public Disclosure Program by contacting the NASD at telephone number (800) 289.9999 or via the internal address which is vAvvr,nasdr,com, In addition, a brochure explaining the Public Disclosure Program is available from the NASD upon request, End of Statement 021 01/0110600:14 001 Y647 EFTA00196747 CLEARED 1HRCOGH ITS amply 0"EO SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & CO. Inc. 383 Madison Avenue New York New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE LICHERMAN.IRA IT uearstearns.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 6 Trades Not Yet Settled 6 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD 81,737,756 NET Calf BALANCE -28,399,636 Cash & Equvalent NET EQUITY THIS PERIOD $53,338,121 NET EQUITY LAST STATEMENT 49,152,082 CHANGE SINCE LAST STATEMENT 4,186,039 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Equities Roza roped as MICMAC* a rontomio of tears or stocks. emorcod as doltroroa to pfu. 10 Clem Somon al 50063ei429: a veva to CNN SONICOS M BOW. Steam &comes Cad. Gm Meirolon Canto North. Broofbri, NY. 112014059 11111111111111111 I I FINANCIAL TRUST COMPANY INC 0/0 AMERICAN YACHT HARBOR • 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio 5.28.399.636 S-28.336.98I 881.737.756 $77.489,063 NO Current market value itg Last statements market value C Short market value Beer. Szeirns Socv,mr Corn. Ore Moroirsh Cantor Noah &Ward New Toe 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD October 30.2004 THROUGH November 30.2004 ACCCUNT rummest TAXPAYER NUMBER On Ale LAST STATEMENT October 29.2004 TTel SoWari a for errnmeveil gnosis care Alsace Mended as a tar downer ldos steternere shard be reamed for ever records Sea into rb for 'Nolan clonal 027 12,01,04:14:42 001 7865A EFTA00196748 CLEARED 1HROUGH ns 0%1N.E0 SUBSIDIARY Beer. Saea•ns SBN•IEeI GOO. Ceol.levelea Cantet Noah Beano. New Ye* 11201.3859 FINANCIAL TRUST COMPANY INC 2 el STATEMENT BACKER IS PRINTED ON THIS PAGE 027 120MM:14:42 001 VSGSA EFTA00196749 CLEARED THROUGH ITS 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 3 c, Cash Flow Analysis THIS PERM Income Summary 16 PERIOD YEAR TO DATE OpeningBalance $-28.336.981A9 Dividends 1.250.00 1.132.500.60 Substitute Payment 0.00 85,222.00 Dividends/Interest 1.250.00 Credit Balance Int. 0.00 398.34 Amount Credited $1,250.00 Total $1.250.00 $1,218,120.94 Dividends/Interest Charged -63.904.01 Foreign Tax Withheld 0.00 -2,033.91 Margin Int Paid -63.904.01 -499,062.62 Amount Debited $-63.904.01 Nel Cash Activity -62.654.01 Closing Balance $-28 399 635.50 Portfolio Composition $!-CAT LONO Cash Balance Summary CashiCash Equivalent Equities 28.399.636 81.737.756 OPENNO CLOSING Total $28 399 636 $81,737.756 Margin -28.336.981.49 -28.399.635.50 Net Cash Balance $-28.336.981.49 $-28.399.635.50 027 120104:14:43 001 808r. SZeirns SOC.r.t.91 GNP. Ore Mevolech Conte Noah BecciOon. Nev. Tuft 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PER100 October 30.2004 THROUGH November 30.2004 ACCOUNT NUMBER TAXPAYER WESER 011FIle LAST STATEMENT October 29.2004 Short Cash & Equivalent 25% Your Portfolio Allocation - Equities 75% Untivoed croons eon,* oa0r Dionce *nee Ihol male wive, The ,loco, ;event'', ty Pe•aed from Va 00101.te market rat), 0I ITV p tkno 18654 EFTA00196750 CLEARED THROUGH ITS niCkLY OW,E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCFDPTION CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $-28,399,636 SYMBOLCUSIP MARRS ESTIMATED CURRENT DUANTIPf PRICE YkUE MNUOL INCOME YELO -28,399,636 EQUITIES Beer. SZetrns SON, bel G00. O-4 Meesetech CerrIN Noah Beccidon. Nev. VC* 11201.3869 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD Octoter 30.2004 THROUGH No enter 30.2004 ACCOUNT NUMBER TAXPAYER NUMBER On Ale LAST STATEMENT Octoter 29.2004 Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firms 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 follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost, Customers can access this research at whw.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. ACCT MARKET ESTIMATED CURRENT DESCRPRON SYMEIGIJCVSIP nn OUANMY PRCE VALUE ANNUAL 1.COME YEW ikl BANK OF AMERICA CORP BAC MRGN 200,000 46.2700 9.254.000 360.000 3.8902 BSC RATING: STOCK 0/SECTOR MW NAB, RESEARCH. L,L,C, RATING: B WALT DISNEY CO HOLDING CO DIS CASH 250.000 26.8800 6.720.000 52,500 0.7813 BSC RATING: STOCK P/SECTOR MO BOYARS ALTERNATIVE VIEWPOLIT RATING: B 027 120104:14:42 001 '.866A EFTA00196751 CLEARED THROUGH ITS vniCkLY 0Mh.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 5 Your Portfolio Holdings (continued) Equities & Options (continued) DESCRIPTION SYMBOUCUSIP ACCT TYPE OUANTITY MICE MARKET VALUE ESTIMATED ANNUAL INCOME CURFENT YELD 1%1 WALT DISNEY CO HOLDING CO DIS MRGN 1,000.000 26.8800 26.880.000 210.000 0.7813 BSC RATING: STOCK P/SECTOR MO BOYARS ALTERNATIVE VIEWPOINT RATING: FLEXTRONICS INTERNATIONAL FLEX CASH 100.000 14.3500 1.435.000 LTD BSC RATING: STOCK 0/SECTOR MW ATLANTIS RESEARCH RATING: H IFIL(IST FIN ITAL) IFPSF CASH 100.000 3.8580 385.800 8,200 2.1255 EUR1 INST CL MBNA CORP KRB MRGN 1.000,000 26.5600 26.560.000 480,000 1.8072 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: NCO INTERNATIONAL LTD TYC MRGN 100,000 33.9700 3.397.000 5,000 0.1472 VECTOR GROUP LTD VGA MRGN 433.290 16.4000 7.105.956 693.264 9.7561 Total Equities& Options $81,737,756 81.808.964 TOTAL EQUITIES $81,737,756 $1.808.964 YOUR PORTFOLIONOLDINGSESTIMATED ANNUAL INCOME $1,808.964 YOUR PRICEDPORTFOLIONOLDINGS 553.338.120 Beer. SZeirhs SOC‘nbel GNP 0 -4 Mem:tech Center Noah Bei:ciao. New VC* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERK* OCIOIMI 30.2004 THROUGH Noverncer 30.2004 ACCCUNT NUMBER TAXPAYER MASER On PIM LAST STATEMENT OCIOIMI 29.2004 027 1201.134:14:43 001 Y8654 EFTA00196752 CLEARED THROUGH ITS 94.05LY OHnE0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YOrk Non York 10179 6 c/ Transaction Detail DIVIDENDS DA'E DESORPTION 11/01/04 TYCO INTERNATIONAL LTD REG 6101/04 PAY I vouott SYMECLOUS9 TYC CcANTiTe RATE (SI 100.000 0.0125 DEBIT AMOUN, Beet. Saea•ns SOMinteol GNP. Dec Mevoiech Cella Noah Beccioon. New Yak 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD Octoter 30.2004 THROUGH Noverncer 30.2004 ACCCUNT NUMBER TAXPAYER AILAUSER On FOS LAST STATEMENT OCIOter 29.2004 CREW AMOUNT 1,250.00 TOTAL $1,250.00 INTEREST DATE CESCFOPTION 11/22/04 INT DB BAL TOTAL STAIDOLCUSIP DUMMY RATE I% COAT AMOUNT CREDIT AMOUNT 63,904.01 5.63.904.01 Trades Executed Pending Settlement SET1.EMEN1 TRADE DATE DATE -PANSACTY):: DESORPTION 12/03/04 11/30/04 BOUGHT STMEICLCUSIP OUANTITY PRa DEBIT AMOUNT CREDO HADUNT BEAR STEARNS COMPANIES INC BSC 300,000.00 97.1500 29,163,005.00 UNSOLICITED BEAR. STEARNS & CO. INC. IS A SUBSIDIARY OF THE ISSUER. TOTAL $29.163.005.00 $0.00 The *ore MIAs bJ nol emew on cery Ow salvo of Inn stalemert 027 12/01104:14:42 001 WISSA EFTA00196753 CLEARED THROUGH nS yrriCLLY 0"EO SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE ZIC,HERMAN.IRA uearstearns.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 6 Your Portfolio at a Glance TOTAL VAWE OF SECURITIES MS PERIOD 77,489,063 NET DEBIT BALANCE -28,336,981 Cash & Equvalent NET EQUITY THIS PERIOD $49,152,082 NET EOUITY LAST STATEMENT 44,388,702 CHANGE SINCE LAST STATEMENT 4,763,380 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Equates Roza copal ant clIfororKK a fasi ocelot of teaks or sKKks. calcalal as clottroral to p5u. lo Gent Sonic.: al 500634.1428: a vat to ChM Soak.. a 8020. Steam &canes Cap. One Metoincli Cooler Honk Brodb4 NY. 112014859 11111111111111111 II FINANCIAL TRUST COMPANY INC 0/0 AMERICAN YACHT HARBOR • 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio I $-28 336 981 I 8.28.923.447 577.489.063 873.312.149 NO Current market value §:811 Last statements market value C Short market value Beer. Sten. SOOrintl Cap. Cc* Metro I cc h Conte Noah &Worn. New Toes 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD WOW 1.2004 THROUGH OCtOter 29.2004 ACCOUNT NUMBER TAXPAYER WESER On File LAST STATEMENT September 30.2004 Sit /SS arrKKY for offload pry only e kea slarttled natal &o n. Ilvs staternen should be mans for your words So mem a for 'Malan/ neconatim 027 103004:11:50 001 WIE4 EFTA00196754 CLEARED 1HROUGH NS wilekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, bel Cap. Ceol.levetech Cantet Noah acedCon. New Ye* 11201.3859 FINANCIAL TRUST COMPANY INC 2 el STATEMENT BACKER IS PRINTED ON THIS PAGE 027 M3004:11:50 001 Y8E4 EFTA00196755 CLEARED IHRWOH ITS veiCkLY One.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 3 Cash Flow Analysis THIS PENCO Income Summary PERICO YEAR TO DATE Opening Balance $-28,923,447.42 Dividends 120,000.00 1.131,250.60 Substitute Payment 0.00 85,222.00 Dividends/Interest 120.000.00 Credit Balance Int. 0.00 398.34 Miscellaneous 526.380.00 Total 8120.000.00 $1,216,870.94 Amount Credited $646.380.00 Foreign Tax Withheld 0.00 -2,033.91 Dividends/Interest Charged -59.914.07 Margin Int. Paid -59,914.07 -435,158.61 Amount Debited $-59,914.07 Net Cash Activity 586,465.93 Portfolio Composition ClosingBalance $-28 336 981.49 SNYM LONG Cash,Cash Equivalent Equities 26.336.981 77.489.063 Cash Balance Summary Total $28.336,981 877,489.063 ontiwo CLOSING Margn -28.923.447.42 -28,336,981.49 Net Cash Balance $-28,923,447.42 8-28.336,981.49 027 M3004:11:50 ODI Beer. SZetrin Slieritee GOO. Ore MeeeIece Cord Noah Becckhn. New TeX 1120i4559 FINANCIAL TRUST COMPANY INC STATEMENT PER100 °CMOS! 1.2004 THROUGH October 29.2004 ACCOUNT NUMBER TAXPAYER WINER On File LAST STATEMENT September 30.2004 Short Cash & Equmalent 26% Your Portfolio Allocation - Equities 74% Umeooed crown emcee oa0r beano, any shy, mole wives The elorairn ;veneer is clewed ham ya ANSA* market robe 01 >ev MOON. Ve&S EFTA00196756 CLEARED THROUGH ITS niCkLY CAM,E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCFDPTION CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $-28.336,981 SYMBOLCUSIP MARKET ESTIMATED CURRENT QUANTITY PRICE VALUE AANUN. INCOME YELO -28,336,981 EQUITIES Beer. SZeirns SOC.r.t.41 Cory. Cr.* Mem:tech Car:1N Noah BecciOon. New VC* 11201.3889 FINANCIAL TRUST COMPANY INC STATEMENT PERK* OCTOON 1.2004 THROUGH (MOW 29.2004 ACCCUNT NUMBER TAXPAYER AILIMER OR File LAST STATEMENT September 30.2004 Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firms 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 follows: B = Buy; H = Hold; S = Sell. The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at whw.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. ACCT MARKET ESTIMATED CURFENT DESCRPRON SYMEICIAVSIP TYPE OUANITTY PRCE MIR ANNUAL fiCOME YEW I* BANK OF AMERICA CORP BAC MRGN 200,000 44.7900 8.958.000 360.000 4.0188 BSC RATING: STOCK 0/SECTOR MW NAB. RESEARCH. L,L,C, RATING: B WALT DISNEY CO HOLDING CO DIS CASH 250.000 25.2200 6.305.000 52,500 0.8327 BSC RATING: STOCK P/SECTOR MO BOYARS ALTERNATIVE VIEWPOLIT RATING: B 027 10,3004:11:50 001 EFTA00196757 CLEARED IHRWOH ITS vniCkLY OMnE0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 Beer. SZeirns SOC.r.t.41 CO ,P. 0 -4 Mem:tech CarrIN Noah Beccidon. New VC* 11201.3559 FINANCIAL TRUST COMPANY INC 5 STATEMENT PERKO OCTOOSI 1.2004 THROUGH WOW! 29.2004 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER WAVER On File LAST STATEMENT September 30.2004 Equities & Options (continued/ ACCT MARKET ESTIMATED CURRENT DESCRIPTION SITS:VOA. ME Oumsini MICE VALUE ANNUAL INCOIAE YELD I% WALT DISNEY CO HOLDING CO DIS MRGN 1,000.000 25.2200 25.220.000 210.000 0.8327 BSC RATING: STOCK P/SECTOR MO BOYARS ALTERNATIVE VIEWPOINT RATING: B FLEXTRONICS INTERNATIONAL FLEX CASH 100.000 12.0500 1.205.000 LTD BSC RATING: STOCK 0/SECTOR MW ATLANTIS RESEARCH RATING: H 'FR(IST FIN ITAL) IFPSF CASH 100.000 3.5740 357.400 7,800 2.1824 EUR1 MST CL MBNA CORP KRB MRGN 1.000,000 25.6300 25.630.000 480,000 1.8728 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: TYCO INTERNATIONAL LTD TYC MRGN 100,000 31.1500 3.115.000 5,000 0.1605 VECTOR GROUP LTD VGA MRGN 433.290 15.4600 6.698.663 693.264 10.3493 Total Equities& Options $77,489.063 $1.808.564 TOTAL EQUITIES $77,489.063 $1.808.564 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1.808564 YOUR PRICEDPORTFOLIOHOLDINGS $49,152,082 027 1030.04:11:50 001 V8E4 EFTA00196758 CLEARED THROUGH ITS WIIOUY OHnE0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 6 Transaction Detail DIVIDENDS DA'E DESORPTION 10/01/04 MBNA CORP REC 09/15/04 PAY 10/01/04 STMEICIUOLISIP KAB CAMAITITY RATE (SI 1.000.000 0.1200 DEBIT AMOUNT Beer. SZeirns SOC,M*1 GOP Ore Mevolech CarrIN Noah Betatron. New Ye* 11201.3559 FINANCIAL TRUST COMPANY INC STATEMENT PERK* October 1.2004 THROUGH WOOS! 29.2004 ACCCUNT NUMBER TAXPAYER PARPER OR File LAST STATEMENT September 30.2004 CREDO AMOUNT 120,000.00 TOTAL $120,000.00 INTEREST DATE OESCRIPTION 10/21/04 INT 08 09/21 - BAL TOTAL STAIDOLCUSIP OUPATITT RATE I% CERT AMOUNT CREDIT AMOUNT 59.914.07 $-59.914.07 MISCELLANEOUS DATE /430.AT TRANSACTCN DESCRIPTION DEBIT AMOUNT CREPT AMOUNT 10/01/04 JOURNAL FROM 178,068.00 10/01/04 JOURNAL FROM a 348,312.00 TOTAL $526,380.00 End of Statement 027 1030.04:11:50 001 1,8E4 EFTA00196759 CLEARED THROUGH ns WIlCUEY SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & 00. Inc. 383 Madison Avenue New York New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WESSITE LICHERMAN.IRA 67AV uearstearns.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 6 Your Messages 8 Your Portfolio at a Glance TOTAL VAWE OF SECURITIES THIS PERIOD 73,312,149 NET DEBIT BALANCE -28,923,447 Cash Si Equivalent NET EQUITY THIS PERIOD $44,388,702 NET EOUITY LAST STATEMENT 43,679,493 CHANGE SINCE LAST STATEMENT 709,209 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Roza rood any Mame a rontoctiot of clods or socks. eldicolal as doltrorod lo lo Cleol Sone*. 01800634.1428: a wax to Clad SONINIS a Bow. Steam &canes Cap. Co. Mekolek Coolly North. °Rahn, NY II201-31,59 II FINANCIAL TRUST COMPANY INC 0/0 AMERICAN YACHT HARBOR • 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio Equates — S.28.923.447 $29.121.602 . . . $73.312.149 $72.801.095 Current market value to Last statements market value Short market value Beer. Szerrus Sadist.* COO. Cectlevolech Contot North Becck//n. New VC* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD SepleMbef 1.2004 THROUGH Septeinter 30.2004 ACCOUNT NUMBER TAXPAYER NUMBER On File LAST STATEMENT August 31.2004 Tin Penn , 11 ra ofOTAMACABI puTrosin Only a ISM fowled as downed Tin staternurC should be retuned for your r.cordc Ste rows We for nnoure amnion 027 r(101,04:07:49 001 7863 EFTA00196760 CLEARED 1HROUGH ITS viiseklY 0"E0 SUBSIDIARY Beer. Saee•ns SON, b81 GOO. CeolActsolech Cantet Noah Brocklln• New VC* 11201.3859 FINANCIAL TRUST COMPANY INC 2 ale STATEMENT BACKER IS PRINTED ON THIS PAGE 027 100104:07:49 001 V863 EFTA00196761 CLEARED 1HRWGH nS ?RIMY OBX.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Nee York 10179 3 O1 Cash Flow Analysis NIS PERM Income Summary TAS PERIOD YEAR TO DATE Opening Balance $-29.121.602.33 Dividends 255,063.20 1.011.250.60 Substitute Payment 0.00 85,222.00 Dividends/Interest 255.063.20 Credit Balance Int. 0.00 398.34 Miscellaneous 13.81 Total $255.063.20 $1,096,870.94 Amount Credited $255,077.01 Foreign Tax Withheld 0.00 -2,033.91 Dividends/Interest Charged -56.922.10 Margin Int. Paid -56.922.10 -375,24454 Amount Debited $-56,922.10 Net Cash Activity 198.154.91 Portfolio Composition ClosingBalance 8-28 923 447.42 SHJXT LONG Cash,Cash Equivalent Equities 28.923.447 73,312,149 Cash Balance Summary Total 928.923,447 $73,312,149 °FENNO CLOSING Margo -29,121,602.33 -28.923.447.42 Net Cash Balance $-29.121.602.33 8.28,923,447.42 027 10011107:49 001 Bar. Screams S0PM*1 Cap. Ore Maoloch Canto, Noah Beccidon. New To* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD September 1,2004 THROUGH September 30.2004 ACCOUNT NUMBER TAXPAYER 141.1183ER On File LAST STATEMENT August 31.2004 Shod Cash & Equivalent 28% Your Portfolio Allocation — Equities 72% UmPootx1 crown coma oar Nano, oat, shol male aye, Tho olotrahr Pe vernsa is awed from to otnol.ft market robe or Kv patio" V883 EFTA00196762 CLEARED THROUGH ITS niCkLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCRIPTION CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $-28.923.447 SYMBOLCUSIP MARKET ESTIMATED CURRENT COMET( PRICE VALUE MNUOL NOM YELO DU -28.923.447 EQUITIES Beer. SZeirhs SOC,r4.81 GNP. 0-414cm:tech Contec Noah Beccidon. New VC* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD September 1,2004 THROUGH September 30.2004 ACCCUNT NUMBER TAXPAYER KAMER Co File LAST STATEMENT August 31.2004 Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firms Equity Research Department. The first rating represents the stocks 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 follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost, Customers can access this research at wiv.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. DESCREDON BANK OF AMERICA CORP BSC RATING: STOCK 0/SECTOR MW NAB. RESEARCH. L.L.C. RATING: B ACCT MARKET ESTIMATED CURRENT SYMEICIAVSIP IYPE OUANI1TT PRICE VALUE ANNUAL f‘COME YEW IY4 BAC MRGN 200,000 43.3300 8.666.000 360.000 4.1542 WALT DISNEY CO HOLDING CO DIS CASH 250.000 22.5500 5.637.500 52,500 0.9313 BSC RATING: STOCK P/SECTOR MO BOYARS ALTERNATIVE VIEWPOSNT RATING: B 027 1001,04:07:49 001 V80 EFTA00196763 CLEARED IHRouGH ns ?mow, (mNIED SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 5 Beer. SZetrns SOC,r.t.el CO ,P. Cr.* Metselech Center Noah &Woo. Nev. Ye* MOI.38S9 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD September 1,2004 Your Portfolio Holdings (continued) Equities & Options (continued) ACCT DESCRIPTION SIMBOUCUSIP ME OUANTITY PRCE IMPKE1 VALUE ESTIMATED ANNUAL INCOME THROUGH September 30.2004 AccouNT NUMBER TAXPAVER MAWR Co Fite LAST sTATELIENT August 31.2004 CURRSYT YEW IN4 WALT DISNEY CO HOLDING CO DIS MRGN 1,000.000 22.5500 22.550.000 210.000 0.9313 BSC RATING: STOCK P/SECTOR MO BOYARS ALTERNATIVE VIEWPOINT RATING: B FLEXTRONICS INTERNATIONAL FLEX CASH 100.000 13.2500 1.325.000 LTD BSC RATING: STOCK 0/SECTOR MW ATLANTIS RESEARCH RATING: B IFIMIST FIN ITAL) IFPSF CASH 100.000 3.5530 355.300 7,700 2.1672 EUR1 It4VST CL MBNA CORP KRB MRGN 1.000,000 25.2000 25.200.000 480,000 1.9048 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: B TYCO INTERNATIONAL LTD TYC MRGN 100,000 30.6600 3.066.000 5,000 0.1631 VECTOR GROUP LTD VGA MRGN 433.290 15.0300 6.512.349 693,264 10.6454 Total Equities& Options $73,312,149 $1,808,464 TOTAL EQUITIES $73,312,149 $1,808,464 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,808,464 YOUR PRICEDPORTFOLIOHOLDINGS $44,388,702 027 1001,04:07:49 001 V863 EFTA00196764 CLEARED THRWGH ITS niCkLY 0%M.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 6 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE DATE TRANSACT/ON 09/29/04 09/20/04 BOUGHT cescernou VECTOR GROUP LTD SEE NOTE'S' ON BACK STK ON ON 412658 SHS REC 09/20/04 PAY 0029/04 AS OF 09/20/04 SYMBOLICUSIP VGA GUMMY 20,632 PRICE Beer. SZeirns SOC,nbel Cap. 0-4 Mon:tech Cora N Noah Beccidon. New Yak 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD September 1,2004 THROUGH September 30.2004 ACCOUNT NUMBER TAXPAYER KAMER LAST STATEMENT August 31.2004 DERE AMOUNT CROW MONO TOTAL DIVIDENDS DATE OESCRPTION 09/24/04 BANK OF AMERICA CORP REC 09/03104 PAY 09/24/04 STMEICACUSIP BAC OVANMY RATE (61 DEBT AMOUNT CREDIT AMOUNT 200.000 0.4500 90,000.00 09/29/04 VECTOR GROUP LTD REC 09120/04 PAY 09/29/04 VGR 412.658 0.4000 165,063.20 TOTAL $255,063.20 INTEREST PATE °swarms+ 09/21/04 INT DB 08/21 - 09(20 00227016% BAL 29121602 AVG29118197 STMEICUNISIP 0UMMTY RATE IY4 DEBT AMOUR 56,922.10 CREDIT AMOUNT TOTAL $-56,922.10 027 10,01,04:07:49 001 Y863 EFTA00196765 CLEARED THRWGH ITS niCkLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Non York 10179 7 vi Beet Some& Sec.r.teo Gory. 0 -4 Mem:tech CarrIN Noah 0eock11n. New Ye* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD September 1,2004 THROUGH September 30.2004 Transaction Detail (continued) ACCOUNT NUMBER TAXPAYER NVUSER 011Plie DISTRIBUTION LAST STATEMENT AUGuSt 31.2004 DCE TRANSACTION DESCRIPTION SYMBOUCVSIP COMM, RATE (5) DEBIT AMONT CREW MCIUNT 09/02104 STOCK SPLIT BANK OF AMERICA CORP BAC 100,000 STK SPLIT ON 100000 SHS REC 08t06'04 PAY 08127:04 TOTAL MISCELLANEOUS DATE 1.13DAY TRANSACTION 09/30/04 CASH-LIEU DESCRIFTON VECTOR GROUP LTD CASH IN LIEU OF .90000 REC 09,20104 PAY 09,29,04 DEBIT AMOUNT CREPT APADVN1 13.81 TOTAL $13.81 027 100104:07:49 001 V863 EFTA00196766 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York, Nee York 10179 8 c/ Your messages Bear. Stearns Securities Corp, Net Capital and Net Capital Requirements: At May 31, 2004 and July 31. 2004. the Company's net capital of approximately $3,6 billion and $3,6 billion was approximately 6,8% and 6,5% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately $1.1 billion and $1,1 billion by approximately $2,5 billion and $2,5 billion, all respectively, A complete copy of the Bear. Stearns Securities Corp, Statement of Financial Condition is available on the web site mvw,bearstearns,com, Alternatively, to request a free printed copy please call - toll free 1-866.299-9331, Bar Bear. Slt8MS SOM.0081 COO Ono Mavotech Confer HORN Stecklin. New York 1120/3859 FINANCIAL TRUST COMPANY INC STATEMENT PERK* SeplecTiON 1.2004 THROUGH Septerrter 30.2004 ACCOUNT NUMBER TAXPAYER WEISER On File LAST STATEMENT August 31.2004 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 decline in value, so does the value of the collateral supporting your loan, and, as a result, the firm can take action, such as issue a margin call and/or sell securities or other assets in any of your accounts held with the member, in order to maintain the required equity in the account. it is important that you fully understand the risks involved in trading securities on margin, These risks include the following: ' You can lose more funds than you deposit in the margin account, ▪ The firm can force the sale of securities or other assets in your account(s), ' 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. ' You are not entitled to an extension of time on a margin call, 027 1001.04:07:49 001 V863 EFTA00196767 CLEARED THROUGH ITS wilekLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 9 Bar This statement is provided to explain Bear, Stearns & Co. Inc.'s ("BSC) payment for order flow practices. BSC routes a majority of orders for customer securities transactions to the primary market for such securities. Orders may also be routed to other market service vendors that assure executions pursuant to complex mathematical 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 than favorable executions or executions of limit orders at no additional charge. End of Statement Ear Beer. SZeirns SOC,M.81 GNP Ore Mon:tech CarrIN Noah Beccidon. New Ye* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD September 1,2004 THROUGH September 30.2004 ACCOUNT NUMBER TAXPAYER At/USER 011Fde LAST STATEMENT August 31.2004 Pursuant to SEC Rule 11Ac1.6, please note the following: Bear, Steams & Co. Inc. will post its quarterly routing statistics at the following web link: http://www.bearsteams.com. Click on Individual Investor, Click on Equities, Click on Order Routing Practices. Customers of Bear, Steams & Co. Inc. may request information on any order executed within the prior six months from the time of the request. Specifically, you may request the identity of the venue to which the identified orders were routed for execution, whether the order was directed by you to that venue, and the time of the executions, if any, that resulted from such orders. 027 latit04:07:49 001 VIM EFTA00196768 CLEARED IHRCOGH ITS »ICU? 0"ED SUBSIDIARY BffiR STffiRNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 CO. Inc. 383 Madison Avenue New York New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WESSITE LICHERMAN,IRA uearstearns.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 6 Your Portfolio at a Glance TOTAL VAWE OF SECURITIES NIS PERIOD 72,801,095 NET DEBIT BALANCE -29,121,602 Cash 8 Eqavalent NET EQUITY THIS PERIOD $43,679,493 NET EOUITY LAST STATEMENT 44,186,707 CHANGE SINCE LAST STATEMENT -507,214 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. 11111111111111111 I I FINANCIAL TRUST COMPANY INC CIO AMERICAN YACHT HARBOR 6100 RED HOOK SUITE 6.3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio Equities — Roza copal any 011*011C0 Or nonroefle ol ~Os or ~Its. «Peak.] as &Wont lo yaa. lo GINN Sonic.» al B00(344428: or vit lo ChM SONIC.» MSG./. Stamm Sceuellos Cr,.. Co, Mflolecli COMO, North. Brodbw, NY I1201-3959. $.29.121.602 $29.070.063 . . . $72.801.095 $73.256.770 Current market vaue tie Last statements market value Short market value Beer. SZetrns Sec 'ilfil CND Cr.* Metsoleen Corr Noah Beeciam. New Te" 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERM Jut/ 31. 2004 THROUGH August 31.2004 ACCOUNT NUMBER TAXPAYER AtaER On File LAST STATEMENT Jut, 30.2004 Sr 'Des Pennant if br dOITTMNYNI pawnonlyn H nat«nerd natal daunt« Ts ~tern« amid tm retuned for your records See rant fa far rnpodart ~Om 027 0901,04:06:31 001 Y862 EFTA00196769 CLEARED IHROUGH ITS viiseklY 0"E0 SUBSIDIARY 808r. Saee•ns S0N, b81 GOO. CeolActioloch Cantot Noah Brocklln• New VC* 11201.3859 FINANCIAL TRUST COMPANY INC 2 ol STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0901,0405:31 001 •7862 EFTA00196770 CLEARED iiiscuGH wilekLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 3 c, Cash Flow Analysis THIS PERICO Income Summary DC PEN00 YEAR TO DATE OpeningBalance $-29.070,063.39 Dividends 1,250.00 756.187.40 Substitute Payment 0.00 85,222.00 Dividends/Interest 1.250.00 Credit Balance Int. 0.00 398.34 Amount Credited $1,250.00 Total $1.250.00 $841,807.74 Dividends/Interest Charged -52.788.94 Foreign Tax Withheld 0.00 -2,033.91 Margin Int. Paid -52.788.94 -318,322.44 Amount Debited $52,788.94 Net Cash Activity -51.538.94 Closing Balance $-29 121 602.33 Portfolio Composition SKR! LON0 Cash Balance Summary CashrCash Equivalent Equities 29.121.602 72.801,095 0FEr. CLOSING Total $29,121,602 $72,801,095 Margin -29.070.063.39 -29.121,602.33 Net Cash Balance 529.070.063.39 $-29.121.602.33 027 09,01,04:08:31 001 808f. SZwans S0C,nbel GOO. Ore 14cm:tech Cantet Noah Beccidon. New Val, 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERK* Jul/ 31. 2004 THROUGH August 31.2004 AccouNT NUMBER TAXPAYER ARMER On File LAST s TATELIENT Jut/ 30.2004 Shod Cash 8 Equivalent 28% Your Portfolio Allocation - Equities 72% Untivoed pororis °ono* oar Nano, omit, shrl male vela, Re elorahr cevemsr is do•ved Inn to etwol.te market rat), 01 >vv palloo 1862 EFTA00196771 CLEARED THROUGH ITS niCkLY OW,E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCFDPTION CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $-29,121.602 SYMBOLCUSIP MARKET ESTIMATED CURRENT QUANTITY PRICE VALUE MNUN. NOM YELO -29,121,602 EQUITIES Beer. SZeirns SOC,nbel Cory. Cc* Mon:tech Contm Noah BecciOon. New Ye* 11201.3659 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD July 31.2004 THROUGH August 31.2004 ACCCUNT NUMBER TAXPAYER WEBER On File LAST STATEMENT Jul/ 30. 2004 Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firms 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 follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost, Customers can access this research at wiv.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. DESCRPRON BANK OF AMERICA CORP BSC RATING: STOCK 0/SECTOR MW NAB. RESEARCH. L.L.C. RATING: B ACCT MARKET ESTIMATED CURFEW SYMEICIJCVSIP TTPE pµNTITY PRCE YN.UE ANNUAL INCOME YE101%./ BAC MRGN 100,000 44.9800 4,496,000 180.000 4.0018 WALT DISNEY CO HOLDING CO INS CASH 250.000 22.4500 5,612,500 52,500 0.9354 BSC RATING: STOCK P/SECTOR MO BOYARS ALTERNATIVE VIEWPONT RATING: B 027 09,01,04:06:3I ODI 1862 EFTA00196772 CLEARED THROUGH NS ?mow, °MEC SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 5 Your Portfolio Holdings (continued) STATEMENT PERK* THROUGH ACCOUNT NUMBER July 31. 2004 August 31.2004 TAXPAYER WESER On File LAST STATEMENT Jul/ 30.2004 Equities & Options (continued) ACCT MARKET ESTIMATED CURPIST DESCRPTION SIMBOUCUSIP ME OUANTITY PACE VALUE ANNUAL NCOIAE YEW I% WALT DISNEY CO HOLDING CO DIS MRGN 1,000.000 22.4500 22.450.000 210.000 0.9354 BSC RATING: STOCK P/SECTOR MO BOYARS ALTERNATIVE VIEWPOINT RATING: B FLEXTRONICS INTERNATIONAL FLEX CASH 100.000 12.4100 1.241.000 LTD BSC RATING: STOCK WSECTOR MO ATLANTIS RESEARCH RATING: B 'FR(IST FIN ITAL) IFPSF CASH 100.000 3.2170 321.700 9,128 2.8374 EUR1 MST CL MBNA CORP KRB MRGN 1.000,000 24.1400 24.140.000 480,000 1.9884 BSC RATING: STOCK OSECTOR BOYARS ALTERNATIVE VIEWPOINT RATING: TYCO INTERNATIONAL LTD TYC MRGN 100.000 31.3200 3.132.000 5,000 0.1596 VECTOR GROUP LTD VGA MRGN 412.658 16.7400 6.907.895 660,253 9.5579 Total Equities& Options $68,303,095 $1.596.881 TOTAL EQUITIES $68,303,095 $1.596.881 Beer. Steirns SON, bel CO,P. OtoLletsolech CarrIN Noah BecciOon. New Ye* I1201.38S9 FINANCIAL TRUST COMPANY INC 027 09,01,04:06:21 001 Y862 EFTA00196773 CLEARED THRWGH ITS vniCkLY OMnE0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 6 Your Portfolio Holdings (continued) OTHER HOLDINGS Pending Stock Distributions ACCT DESORPTION soreeLcus> ron OUANTITY PACE MARKET VALUE ESTIMATED ANNUAL MOUE CUMIENT VELD CM STATEMENT PERK* THROUGH ACCOUNT NUMBER TAXPAYER AMBER LAST STATEMENT Jul/ 31. 2004 August 31.2004 On File Jul/ 30. 2004 BANK OF AMERICA CORP BAC MRGN STK SPUT ON 100000 SH5 REC 08/06+04 PAY 08/27434 Total PendingStockDistribution 100,000 44.9800 4,498,000 $4,498,000 180.000 $180,000 4.0018 TOTAL OTHER HOLDINGS $4,498,000 $180.000 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $1.776.881 YOUR PRICED PORTFOLIOHOLDINGS $43.679.493 Beer. Steams SOC.r.t.el GOO. Ore Met:MeV+ CoMm Noah BecciOon. Nev. Ye* I1201.38S9 FINANCIAL TRUST COMPANY INC Transaction Detail DIVIDENDS DATE DESORPTION 08102/04 TYCO INTERNATIONAL LTD REC 07,01:04 PAY 080204 SYMKL CUSP TYC DUMMY RATE MT 100,000 0.0125 DEBT AMOUNT CREDIT AMOUNT 1.250.00 TOTAL $1.250.00 027 09,01,04:06:31 001 'e862 EFTA00196774 CLEARED THROUGH ITS 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 7 v/ Transaction Detail (continued) INTEREST DATE DESCRIPTION 08/23/04 INT DB - 07/21 BAL TOTAL SYMEICLOCUSIP Beet. Neon Seonber GNP. CeoLlevalech Coma Noah Beccidon. New Ye* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PER100 Jul/ 31. 2000 THROUGH August 31.2000 ACCCUNT NUMBER TAXPAYER NUMBER On File LAST STATEMENT Jul/ ao. 2000 MAMMY RATE IN) Can AMOUNT GREW AMOUNT 52,788.94 5-52.788.94 End o1 Statement 027 0901D4:0831 001 VS62 EFTA00196775 CLEARED THRCOGH ITS ?RIMY 0%M.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & CO. Inc. 383 Madison Avenue New York. New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE ZICHERMAN.IRA IV IA1 uearstearns .com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 6 Your Portfolio at a Glance TOTAL VAWE OF SECURITIES THIS PERIOD 73,256,770 NET DEBIT BALANCE -29,070,063 Cash a Equvalent NET EQUITY THIS PERIOD $44,186,707 NET EQUITY LAST STATEMENT 49,113,488 CHANGE SINCE LAST STATEMENT -4,926,781 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Equines Roza ropNi any Mame a crontioONt ol tern or Mocks. eidXotal as doltroral lo you. lo OWN Son1coo 01 880611.1128: a tot to Choi Santos a Soot. &parr@ SecuMos Caw.. One lActotodi Cala North. BrooN)w, NY. II201.9859 11111111111111111 I I FINANCIAL TRUST COMPANY INC C/0 AMERICAN YACHT HARBOR • 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio I 5-29.070.063 I S-28.772.876 _$73.256.770 usssuussaunnws.....mmn.. ...... ........ 577.886.364 Current market vaue mg Last statements market value Short market value 808r. SZeirnt. SOC‘rititt Cap. Cc* Metrolech Conte( North Beak/on. New Yak 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PER100 Jule 1.2004 THROUGH Jut/ 30.2004 ACCOUNT NUMBER TAXPAYER WhrtiER On He LAST STATEMENT June 30.2004 St INS Martin/ fa daniibael pamases Gay is ea iltrided as a tag downers Tin simmers should be Maned for your records See reverses.* Ice rimless recnnaton 027 0741,00:08:01 001 Y8.58 EFTA00196776 CLEARED 1HROUGH NS wilekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, b81 Cap. Ceol.letioloch Cantot Noah Brocklln• New VC* 11201.3859 FINANCIAL TRUST COMPANY INC 2 ol STATEMENT BACKER IS PRINTED ON THIS PAGE 027 07)3L04:08:41 001 V858 EFTA00196777 CLEARED 1HRO00H nS WNW? Ch1O.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 3 Cash Flow Analysis THIS PERIOD Income Summary DC PERIOD YEAS TO DATE Opening Balance $-28.772,875.93 Dividends 127,533.00 754.937.40 Substitute Payment 0.00 85.222.00 Dividends Interest 127.533.00 Credit Balance Int. 0.00 398.34 Miscellaneous 24,618,788.69 Total $127,533.00 $840,557.74 Amount Credited 824.746.321.69 Foreign Tax Withheld -2.033.91 -2,033.91 Funds Withdrawn -25.000.000.00 Margin Int. Paid -41,475.24 -265,533.50 Dividends Interest Charged -41.475.24 Miscellaneous -2.033.91 Amount Debited 8-25,043,509.15 Portfolio Composition SNORT WHO Net Cash Activity -297.187.46 CashiCash Equivalent 29.070.063 Closing Balance 8.29,070,063.39 Equities 73.256,770 Same Ow tandem ca cash balsam scowl Imes ate not included in ihis salian: such Iranefera as well as details lot as ofer Iransachcea !is pesio0. Total $29,070,063 $73,256,770 *paw in Transaction Dotal. Cash Balance Summary QUI. NG OLOGIN0 Cash 1,658,956.03 0.00 Margin -30.431,831.96 -29.070,063.39 Net Cash Balance $-28,772,875.93 8.29,070,063.39 027 07)3104O6:41 001 Beer. Stalros SOCuotatt GOO. Ore Mettolech Cella Noah Becck//n. New Tuft 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD Jul/ 1.2004 THROUGH Jul/ 30.2004 ACCOUNT NUMBER TAXPAYER WESER On File LAST STATEMENT June 30.2004 Short Cash & Equivalent 28% Your Portfolio Allocation — Equities 72% Umhttled rotor,' Oen,* oat beano, 'mitt Owl male yaws Tea elocahr cetemar is clewed ham to ebsol.te market rat), 01 KV polloaa 1858 EFTA00196778 CLEARED THROUGH ITS OMnE0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCFDPTION CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $-29,070,063 SYMBOLCUSIP MARKET ESTIMATED CURRENT DUANTRY PRICE VALUE MNUN. NOM YELO -29,070,063 EQUITIES Beer. SZeirns SOC,nt.el Gap. Ore Metselech Cant“ Noah Beccidon. New Ye* 112013650 FINANCIAL TRUST COMPANY INC STATEMENT PERK* Jul/ 1.2004 THROUGH Jul/ 30.2004 ACCOUNT NUMBER TAXPAYER AMBER On File LAST STATEMENT June 30.2004 Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firms 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 follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost, Customers can access this research at wthy.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. DESORPTION BANK OF AMERICA CORP BSC RATING: STOCK 0/SECTOR MW NAB. RESEARCH. L.L.C. RATING: B ACCT MARKET ESTIMATED CURRENT SYMEIWOUSIP TYPE QUANTITY PRCE VALVE ANNUAL fiCOME YBD IY4 BAC MRGN 100,000 85.0100 8.501.000 360.000 4.2348 WALT DISNEY CO HOLDING CO DIS CASH 250.000 23.0900 5.772.500 52,500 0.9095 BSC RATING: STOCK P/SECTOR MO BOYARS ALTERNATIVE VIEWPOLIT RATING: B 027 0741.04SM:41 001 BbS EFTA00196779 CLEARED THRWGH ITS WIIOUY 0Mt,E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 5 Your Portfolio Holdings (continued) Equities & Options (continued) ACCT DESORPTION SIMBOUCUSIP TYPE °OA/CITY PRCE MARKET VALUE ESTIMATED ANNUAL INCOIAE CURPSYT YELD WALT DISNEY CO HOLDING CO DIS MRGN 1,000.000 23.0900 23.090.000 210.000 0.9095 BSC RATING: STOCK P/SECTOR MO BOYARS ALTERNATIVE VIEWPOINT RATING: FLEXTRONICS INTERNATIONAL FLEX CASH 100.000 12.5700 1.257.000 LTD BSC RATING: STOCK 0/SECTOR MO ATLANTIS RESEARCH RATING: B IFIL(IST FIN ITAL) IFPSF CASH 100.000 3.3040 330.400 8,891 2.6910 EUR1 INVST CL MBNA CORP KRB MRGN 1.000,000 24.6900 24.690.000 480,000 1.9441 BSC RATING: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VIEWPOINT RATING: TYCO INTERNATIONAL LTD TYC MRGN 100.000 31.0000 3.100.000 5,000 0.1613 VECTOR GROUP LTD VGA MRGN 412.658 15.7900 6.515.870 660,253 10.1330 Total Equities& Options $73,256.770 $1,776,64.4 TOTAL EQUITIES $73,256.770 $1,776,644 YOUR PORTFOLIONOLDINGSESTIMATED ANNUAL INCOME $1,776,644 YOUR PRICEDPORTFOLIOHOLDINGS $44,186,707 Beer. SZeirns SON, bel CO ,P. Ore Mem:tech Car:tog Noah Beccidon. New Ye* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERK* Jul/ 1.2004 THROUGH Jul/ 30.2004 ACCOUNT NUMBER TAXPAYER AMBER On File LAST STATEMENT June 30.2004 027 07,314a:0B:41 001 Y8S9 EFTA00196780 CLEARED THRWGH ITS 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Non York 10179 6 vi Transaction Detail DEPOSITS AND WITHDRAWALS DATE TIMNSACTO6 DESCRrION 07/06/04 WIRED WIRED TO N NW BOOK 07/06/04 END WIRED MOM/ NDS WIRED TO BOOK DEBIT AMOIANT CREDIT AMOUNT 12,500,000.00 12.500.000.00 TOTAL $-25.000.000.00 DIVIDENDS DATE DESORPTION 07/01/04 IFILOST FIN ITAL) EURI INVST CL REC OW30104 PAY 07/01434 FOREIGN TM WITHHELD VorBOL.CvSiP IFFISF ciumnyv RATE (S) 100,000 0.0620 WH DENT AMOUNT 2,033.91 Beer. SZeirns SON, b81 OPP. Ore Mem:tech Cone og Noah Beccidon. New Ye* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERK* Jul/ I 2004 THROUGH Jul/ 30.2004 ACCOUNT NUMBER TAXPAYER AMBER Cfl File LAST STATEMENT June 30.2004 CREDIT AMOUNT 7.533.00 07101/04 MBNA CORP REC 06/14104 PAY 07;01.04 KRB 1,000,000 0.1200 120.000.00 TOTAL S.2.033.91 $127.533.00 INTEREST cEsos PION 07/21/04 INT 08 06 1.1.11.1.10 BAL TOTAL STMEKIJOUNP OUMMYY RATE I%4 DENT AMOUNT 41.475.24 CREDIT AMOUNT $-41,475.24 027 0731A34:08:41 001 YSE4 EFTA00196781 CLEARED THROUGH ITS 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Non York 10179 Beet. SZeirns S0N, b81 Cory. OtoLlevelech Cella Noah 0eock11n. New Ye* 11201.3859 FINANCIAL TRUST COMPANY INC 7 vi Transaction Detail (continued) MISCELLANEOUS DATE M3VAT 07/01/04 07/01/04 07/01/04 07/02/04 07/02/04 07/14/04 TOTAL TRANSACTCN oFscnimon DES I 41.1CUM CREPT AT 1:00UT JOURNAL FROM 178,069.00 JOURNAL FROMM.. 348,313.00 JOURNAL FROM: XBI,SUSD 23,000,000.00 • JRL • JOURNAL JOURNAL FROM TYPE 1TO 2 2.190.837.12 JOURNAL JOURNAL FROM TYPE 1 TO 2 2,190,837.12 JOURNAL FROM: 1.092.406.69 PER WA • JRL • $-2,190.837.12 $26.809.625.81 End of Statement STATEMENT PERK* Jul/ 1.2004 THROUGH Jul/ 30.2004 ACCOUNT NUMBER TAXPAYER AMBER Cel Flk LAST STATEMENT June 30.2004 027 0731D4:08:41 001 Y858 EFTA00196782 CLEARED THROUGH ITS 0‘15.E0 SUBSIDIARY BUR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE ZICHERMAKIRA nvia t e a rsUMMS.COM What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 5 Your Messages 7 Your Portfolio at a Glance TOTAL VAWE OF SECURITIES THIS PERIOD 77,886,364 NET DEBIT BALANCE -28,772,876 NET EQUITY THIS PERIOD $49,113,488 NET EOUITY LAST STATEMENT 44,591,914 CHANGE SINCE LAST STATEMENT 4,521,574 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Cash S Equvalent 11111111111111111 I I FINANCIAL TRUST COMPANY INC 0/0 AMERICAN YACHT HARBOR • 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio I 6.28 772 876 I 6-31.716.148 Equities — Roza moat ant drforona a nontoceire of tooks or stocks. macaw! as altrogoa to p5u. to Clem Somas of 800614.142O: a yea to Clom SONICOS a Bow. Steam Saumos Cap.. Co. lAtOrokKli Coolly North. Brodbri. NY 1201-3859 I $77.886.364 $76.308,062 Current market yak* ME Last statements market value Short market value 808r. Sten•n. SOC‘rititt Cap. Cato Metrolech Confer North Beano. Hew VC* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERKO May 29.2004 THROUGH June 30.2004 ACCOUNT NUMBER TAXPAYER MAWR Ofine LAST STATEMENT May 28.2004 TMEPOrmuriN br mR08. 5008I PaPOSOS caly. It Is ra wended as dawn Ilvs statsenorS should Do Maned fa' your records. Soo worn ode fa" ricotta nfainatim 027 01,01.04:13:31 001 Important Message Confirmation: Unless we hear from you to the contrary. it is out understanding that any free credit balances in your account are being maintained to facilitate your intention to invest such amounts through us. V832 EFTA00196783 CLEARED 1HROUGH NS wilekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, b81 00,0 Ceol.levalech Cantet Noah Beoeklln• New Yuk 11201.3859 FINANCIAL TRUST COMPANY INC 2 ale STATEMENT BACKER IS PRINTED ON THIS PAGE 027 07)01,04:13:31 001 Y832 EFTA00196784 CLEARED THROUGH VIIIOLLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Nee York 10179 3 al a Cash Flow Analysis THIS PERIOD Income Summary hISPERICO YEAR TO DATE Opening Balance 6-31.716,147.95 Dividends 245,063.20 627,404A0 Substitute Payment 0.00 85.222.00 Securities Sold 2,746,122.34 Credit Balance Int. 0.00 398.34 Dividends/Interest 245,063.20 Total 8245.063.20 $713.024.74 Amount Credited $2,991,185.54 Margin Int. Paid -47,913.52 -224,05826 Dividends/Interest Charged -47.913.52 Amount Debited $-47.913.52 Portfolio Composition Net Cash Activity 2,943,272.02 soca! LONG Closing Balance 6-28 772 875.93 CashiCash Equivalent 28.772.876 Same duj vannan N cata batman acinAl Wee cow net included in Sin scan: such tfinCtan. ac w it z clouts lot al oror bWISiaCHCCES HL pow'. Equities 77.886.364 .1(404f In rearcan.:n DE41 Total $28,772.876 $77.886.364 Cash Balance Summary OPETANG CL PIG Cash 0.00 1,658,956.03 Margin -31.716,147.95 -30,431,831.96 Net Cash Balance $-31,716,147.95 6-28,772,875.93 027 07:01,04:13:31 001 Best. SZeirn5 S0CV, t.el GOO. Ce4 Mevelech Bentz Noah BeCCidon. New Vent 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERK* May 29.2004 THROUGH June 30.2004 ACCOUNT NUMBER TAXPAYER WESER On File LAST STATEMENT May 28.2004 Your Portfolio Allocation Short Cash 8 Equnmlent 26'<, — Equities 74% Untivaed croons canoe oar Deanne anon: snol male *vets Tb elocatm reventar is de•ued Iran Va etwol.te market rat), el yni palloaa Y832 EFTA00196785 CLEARED THRWGH ITS wilekLY OHNED SUBSIDIARY BUR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Beer. SZeirns SOC.r.bel GNP. Cc* Mem:tech Contec Noah Beo:kron. New VC* 11201.3869 FINANCIAL TRUST COMPANY INC STATEMENT PERK* May 29.2004 Your Portfolio Holdings THROUGH ACCOUNT NUMBER June 30.2004 CASH & CASH EQUIVALENTS TAXPAYER WESER On File LAST STATEMENT May 28.2004 MARKET ESTIMAIED CURPENT DESORPTION SYMBOLtuSIP DUMMY PRICE VALUE !ANS INCOME YIELD i!4/ CASH BALANCE -28.772.876 TOTAL CASH & CASH EQUIVALENTS $-28,772.876 EQUITIES Equities & Options ACC! MANCE1 ESTIM1E0 CURFEW' DESORPTION SYMBOUOISIP ME °VANITY PRICE VALUE ANNUAL INCOME YEW BANK OF AMERICA CORP BAC MRGN 100.000 84.6200 8.462.000 360.000 4.2543 WALT DISNEY CO HOLDING CO DIS CASH 250.000 25.4900 6.372.500 52.500 0.8239 WALT DISNEY CO HOLDING CO DIS MRGN 1.000.000 25.4900 25.490.000 210.000 0.8239 FLF_XTRONICS INTERNATIONAL FLEX CASH 100.000 15.9500 1.595.000 LTD IFIMIST FIN ITAL) IFPSF CASH 100.000 3.6350 363.500 9.146 2.5161 EURI MST Q. MBNA CORP KRB MRGN 1.000.000 25.7900 25.790.000 480.000 1.8612 TYCO INTERNATIONAL LTD TYC MRGN 100,000 33.1400 3.314.000 5.000 0.1509 VECTOR GROUP LTD VGR MRGN 412,658 15.7500 6.499.364 660.253 10.1587 Total Equities& Options $77.886.364 $1,776499 TOTAL EQUITIES $77.886.364 $1,776499 027 07.01,04:12:31 001 1.932 EFTA00196786 CLEARED IHRWOH ITS niCALY ORTAEO SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 5 vi Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME 51.776.899 YOUR PRICED PORTFOLIOHOLDINGS 549.113.488 Transaction Detail INVESTMENT ACTIVITY Beer. Saea•ns SOCA, Nel GNP. 0 -41km:tech Cella Noah Becekron. New TA* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERK* May 29.2004 THROUGH June 30.2004 ACCOUNT NUMBER TAXPAYER AMBER On File LAST STATEMENT May 28.2004 SETTLE-MEM DATE TRADE DATE TRANSACTION DESCRIPTION SAMBOLCUSIA CLARIND PROF DEBIT AMOUNT CREDIT MA3UNT 06/15/04 RECEIVED TOO INC TOO 34.400 0901 06/17/04 06/14/04 SOLD GALYANS TRADING INC GLYN -50000 10.79590 536.777.36 UNSOLICITED AVG PRICE: DETAILS ON REQUEST 06/17/04 06/14/04 SOLD TOO INC TOO -34.400 16.06020 550.388.95 UNSOUCITED 06/29/04 06/24/04 SOLD GALYANS TRADING INC GLYN -100.000 16.65000 1.658.956.03 WE ARE ACTING AS PRINCIPAL 8 MARKET MAKER: COMMISSION FIELD IS A COMMISSCH EQUIVALENT - DETAILS ON REQUEST TOTAL $2.746.122.34 027 07)01,04:13:31 001 Y832 EFTA00196787 CLEARED THROUGH ITS witekLY 0%P.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & CO. Inc. 383 Madison Avenue New York, Nen York 10179 6 ri Transaction Detail (continued) DIVIDENDS Beet Noon Soorther GNP. 0-4 Mem:tech Contec Noah &temp. New VC* 11201.3869 FINANCIAL TRUST COMPANY INC STATEMENT PER100 May 29.2004 THROUGH June 30.2004 ACCOUNT NUMBER TAXPAYER MASSER On File LAST STATEMENT May 28.2004 DATE DESORPTION STMOCtiOUSIP OUANTITY RATE (5) DEBIT AMOUNT OREM AMOUNT 06/25/04 BANK OF AMERICA CORP REC 06.04104 PAY 06/25.04 06/30.'04 VECTOR GROUP LTD REC 06/22/04 PAY 06/30/04 BAC VGR 100,000 412.658 0.8000 0.4000 80,000.00 165,063.20 TOTAL 5245,063.20 INTEREST Ort DESCRIPTION SYM90LCUSIP CUANTITT RATE I* DEBIT AMOUNT CREEK AMOUNT 06,21/04 INT DB 05121 - BAL 47,913.52 TOTAL $-47.913.52 MISCELLANEOUS DATE MOST TRANSACTO1 DESCRIPTION DEW AMOUNT CP£Co ArriCkkr 06/17/04 JOURNAL JOURNAL FROM TYPE 1 TO 2 1,087,166.31 06/17/04 JOURNAL JOURNAL FROM TYPE 1 TO 2 1.087.166.31 TOTAL 5.1.087.166.31 51.087.166.31 027 07.01,04:12:31 001 YS32 EFTA00196788 CLEARED THROUGH ITS wilekLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 7 Your messages ir&? Notice Regarding a Change in The Statement of Interest Charges Pursuant to the "Truth-in-Lending" Rule 10 (b)-16 Regarding Short Sales And Marking-To-The-Market Effective no earlier than thirty (30) days from your receipt of this statement, we will compute interest regarding your short sales and marking-to-the market as follows: fi e credit that appears on your statement due to short sales (including short sales against the box) is offset by a debit of like amount because Bear Steams Securities has to borrow the same security in order to deliver it to the buying broker and has to provide its lender additional collateral of up to 105% of the settled short market value of the borrowed securities to secure such loan. This means that the debit balance on which interest is computed will be the difference between (i) up to 105% of the settled short market value of such short sales (across all currencies), which shall be calculated daily, and (ii) the proceeds of such short sales, ra" Beer. Szeiree Secvehei GNP Ore Montech Coma Noah Beccidon. New VC* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD May 29.2004 THROUGH June 30.2004 ACCOUNT NUMBER TAXPAYER remER On File LAST STATEMENT May 28.2004 Any short positions in your account will be kept "marked-to-the market, This means that periodically the balance maintained in the short account will be adjusted to equal the market value of the short securities, Securities that are priced below five dollars per share may be valued at five dollars per share for short marking-to-the market purposes. If a security has been sold short (or sold short against the box) and has appreciated in market price over the selling price, interest will be charged on the amount of appreciation; if it depreciates in market price, interest will be correspondingly reduced by the drop in value, The appreciation or depreciation of securities sold short will be determined by Bear Steams Securities based upon daily dosing prices or quotations provided by pricing services, as applicable, or upon such factors as Bear Stearns Securities in its sole judgement deems pertinent, Please note that the other sections of the "Truth-in-Lending" disclosure previously provided to you remain unchanged, 027 07)01,04:13:31 001 11812 EFTA00196789 CLEARED THROUGH ITS WitCkLY 0%M.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 8 Pursuant to the terms of the equity research settlement that was entered into by Bear Stearns and other major investment banks, we will soon make available to our customers, independent third-party research ('Independent Research'), at no cost, on the common stock of certain companies covered by the Firm's Equity Research Department ('Covered Company). Customers will be able to access this research at wwgv,bearsteams,com or can call (800) 517-2327 to request that a copy of this research be sent to them. Further, Bear Steams will notify certain of our customers, at the time of each solicited order to buy or sell the common stock of a Covered Company, of the availability of Independent Research, and will provide, on the confirmations and statements that are generated for these customers, the rating(s) on such Covered Company(s) by the Firm's Equity Research Department, as well as the corresponding rating(s) by the applicable Independent Research provider(s), where available. These notice provisions become effective in the near future and, to the extent applicable, will be included in your next monthly statement. Please note, Bear Stearns is not responsible or liable for (i) decisions relating to the procurement of Independent Research, (ii) Independent Research or its content, (iii) customer transactions, to the extent based on Independent Research, or (iv) claims arising from or in connection with access provided by the Firm and/or the inclusion of Independent Research ratings in trade confirmations, periodic account statements or vfimv,bearsteams.com. Bear Stearns is not required to supervise the production of Independent Research and has no responsibility to comment on the content of such Research. End of Statement Beer. SZeirns SON, b91 Gap. CeoLlevalech Cantet Noah Beccidon. New Yak 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERK* May 29.2004 THROUGH June 30.2004 ACCCUNT NUMBER TAXPAYER nva3ER Nem LAST STATEMENT May 28.2004 Please be advised of the following changes regarding account service fees: Beginning September 1, 2004, accounts will be subject to a $20.00 processing fee for each outgoing wire transfer and for each check issued by Bear Stearns at the request of a customer. You may wish to speak to your Account Executive to inquire about the availability of check writing privileges for your brokerage account. Beginning January 1, 2005, accounts will be subject to an annual account charge of $75.00 applicable for households that maintain less than $100,000 in net equity in related accounts or that generated less than $500 in brokerage commissions and/or fees paid to Bear Stearns in those accounts in the prior calendar year. 027 07.01,04:13:31 001 2832 EFTA00196790 CLEARED 'MAGOON ITS witCkly 0%1N.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & CO. Inc. 383 Madison Avenue New York Nen York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE ZIC,H,aRtvIAN.IRA ‘..Y w.uearstearns.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 5 Your Portfolio at a Glance TOTAL VAWE OF SECURITIES THIS PERIOD 76,308,062 NET DEBIT BALANCE -31,716,148 NET EQUITY THIS PERIOD $44,591,914 NET EQUITY LAST STATEMENT CHANGE SINCE LAST STATEMENT 42,504,571 2,087,343 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Cash 8 Equvalent Equities Roza rood ant clibronoo a nontocese of shacks or mocks, coscomd as dolicoroa 10 p5u. 10 Clem Sonic*. al 8006114428: a wwto 10 Clem SONICOS M Bow. SWIM Sccumos Cap.. Co. MaYolocli Coolly North. BrooIbw, NY. 112014959 11111111111111111 I I FINANCIAL TRUST COMPANY INC C/0 AMERICAN YACHT HARBOR • 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio $.31.716.148 $.31.670.992 I $76.308.062 kaTuumsur------=A $74.175.563 Current market vaue no Last statements market value Short market value 8Nir. SZeinn SONnt*I COO. Ore Metsolech Corder HMO en:Ck/01. New Volt 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERK* May 1.2004 THROUGH May 28.2004 ACCOUNT NUMBER TAXPAYER AMBER On File LAST STATEMENT *II 30.2004 St ImmNMY fa miOrma0IMI atmaasts oily Nista candid natal dcarner1 Ilvs statnrC should be retailed for your words So mom a for madam oilmnaom 027 052800:12:32 001 Y831 EFTA00196791 CLEARED IHROUGH NS viiseklY 0"E0 SUBSIDIARY Beer. Saee•ns SON, b81 G0,8 CeolActsolech Cantet Noah Brocklln• New VC* 11201.3859 FINANCIAL TRUST COMPANY INC 2 oi s STATEMENT BACKER IS PRINTED ON THIS PAGE 027 052804:12:32 001 •real EFTA00196792 CLEARED 1HRWGH ITS niCkLY OHT.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Nee York 10179 3 ti Beer. Screams S0C.r.t.el GOO. 0-4 Mevotech Conte Noah Betatron. New Toot 11201 3959 FINANCIAL TRUST COMPANY INC STATEMENT PERK* May 1.2.204 Cash Flow Analysis THIS PERIOD Income Summary PERIOD THROUGH ACCOUNT NUMBER TAXPAYER AILICER YEAR TO DATE May 28.2004 On File *11 30.2004 LAST STATEMENT Opening Balance $-31,670,992.28 Dividends 1,250.00 382,34120 Substitute Payment 0.00 85,222.00 Dividends/Interest 1,250.00 Credit Balance Int. 0.00 398.34 Amount Credited $1.250.00 Total $1.250.00 $467.961.54 Dividendsqnterest Charged -46.405.67 Margin Int. Paid -46.405.67 -176.144.74 Amount Debited $-46.405.67 Net Cash Activity -45.155.67 Portfolio Composition Closing Balance 5-31 716 147.95 SHORT LOW Cash/Cash Equivalent Equities 31.716,148 76.308.062 Cash Balance Summary Total $31,716.148 576.308.062 oratorio cuzeitea Margin -31.670.992.28 -31.716,147.95 Net Cash Balance $-31.670.992.28 $21.716.147.95 027 Short Cash & Equivalent 29% OS29,04:12:32 001 Your Portfolio Allocation Equities 71% UTWootTI prow,' °ono* oar 014ToT oat. lhol male ave. The Mom on INNentro Nowtm from Va 00101.te market rat), oi ITV POrtkalk 1851 EFTA00196793 CLEARED IHRWOH ITS niCkLY OW,E0 SUBSIDIARY BUR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Beer. SZeirns SON, bel CO ,P. Cc* Mem:tech Contec Noah Beano. New VC* 11201 3859 FINANCIAL TRUST COMPANY INC STATEMENT PERK* May 1.2004 Your Portfolio Holdings THROUGH ACCOUNT NUMBER May 28.2004 CASH & CASH EQUIVALENTS TAXPAYER MASSER On File LAST STATEMENT April 30.2004 NAPREI ESTIMAIED CURPENT DESORPTION SYMBOLCUSIP DUMMY PRICE VALUE !ANS INCOME YELD i!4) CASH BALANCE -31.716.148 TOTAL CASH & CASH EQUIVALENTS 6-31,716,148 EQUITIES Equities & Options ADC! MARKET ESTIMATED CURN30 DESORPTION SYMBOUCUSIP ME °VANITY PRICE VALUE ANNUAL INCOME YEW I* BANK OF AMERICA CORP BAC MRGN 100.000 83.1300 8.313.000 320.000 3.8494 WALT DISNEY CO HOLDING CO DIS CASH 250.000 23.4700 5.867.500 52.500 0.8948 WALT DISNEY CO HOLDING CO DIS MRGN 1.000.000 23.4700 23.470.000 210.000 0.8948 FLEXTRONICS INTERNATIONAL FLEX CASH 100.000 17.5600 1.756.000 LTD GALYANS TRADING INC GLYN CASH 150,000 10.0500 1.507.500 IFIMIST FIN ITAL) IFPSF CASH 100,000 3.5380 353.800 9,161 2.5893 EUR1 MST IX MBNA CORP KRB MRGN 1.000.000 25.4000 25.400.000 480.000 1.8898 TYCO INTERNATIONAL LTD TYC MRGN 100,000 30.7900 3.079.000 5.000 0.1624 VECTOR GROUP LTD VGR MRGN 412,658 15.9000 6.561.262 660,253 10.0629 Total Equities& Options 676.308,062 $1.736.914 TOTAL EQUITIES $76,308,062 $1.736.914 027 052900402:32 001 Y831 EFTA00196794 CLEARED THROUGH DS mgkay OME0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 5 vi Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $1,736.914 YOUR PRICED PORTFOLIOHOLDINGS $44.591.914 Transaction Detail DIVIDENDS EWE DEscs pliON 0503/04 TYCO INTERNATIONAL LTD REC 04101.'04 PAY °swot: STMEICl/CUSIP TYC CVANNTe RATE (S) 100.000 0.0125 men AMOUNT Bear. Szea•ns S0C,M*I GNP. Cato Mon:tech Contec Noah Beccidon, New Year I I2DI.3SS9 FINANCIAL TRUST COMPANY INC STATEMENT PERK* May 1.2.704 THROUGH May 28.2004 ACCOUNT NUMBER TAXPAYER WESER OR File LAST STATEMENT *11 30.2004 CREDIT AMOUNT 1,250.00 TOTAL $1.250.00 INTEREST DATE CESCAPTION 05121104 INT DB 04121 - BAL STAIDOUCUSIP OUNJTITT RATE I%4 COD AMOUNT CREDIT AMOUNT 46,405.67 TOTAL $46,405.67 027 edr29,04:12:32 001 2431 EFTA00196795 CLEARED THROUGH ITS YilIC(1.Y (A1T,*0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & CO. Inc. 383 Madison Avenue New York Nee( York 10179 ACCOUNT EXECUTNE TELEPHONE VISIT OUR WESSITE ZICHEHNIAN,IRA IT IA1 uearstearns.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 5 Your Portfolio at a Glance TOTAL VAWE OF SECURITIES THIS PERIOD 74,175,563 NET DEBIT BALANCE -31,670,992 NET EQUITY THIS PERIOD 642,504,571 NET EOUITY LAST STATEMENT 48,023,112 CHANGE SINCE LAST STATEMENT -5,518,541 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Cash & Equvalent Equities Roza room ant drroroneo a contoctire ol &Ss or stocks, eldicotod as &firma to p5u. b Gent Sone*. al 800614.1428: a veto to Choi SONIC.. a Boot Steam Scones Cap.. Co. I.letok•-li Coolly North. BrooN>w, NY 112014059 11111111111111111 I I FINANCIAL TRUST COMPANY INC 0/0 AMERICAN YACHT HARBOR • 6100 RED HOOK SUITE 6-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio 331.670.992 331.742.917 $74.175.563 $79.766.029 Current market vaue En Last statements market value Short market value Beer. Sten. SOewititi Cap. Cc* kletsdech Conte( North &Wort New VC* t201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD APO' 1, 2004 THROUGH *11 30.2004 ACCOUNT NUMBER TAXPAYER MMER On File LAST STATEMENT March 31.2004 Sit TNT mann/ a .Namabenal pants only a rat nettled as a Hu dcoonsn llvs stationed should be retails for your words Set wend fa for Hmorlort nfanatin 027 OS01.404:13:17 001 V830 EFTA00196796 CLEARED 1HRCO3H nS WHOLLY OWNED SUBSIDIARY BOB,. SOMAS SeWo11Rf CO(.. Ono Llevotech Confer North Steck'tn. New York 11201.38S9 FINANCIAL TRUST COMPANY INC 2 ale STATEMENT BACKER IS PRINTED ON THIS PAGE 027 05:01.100:13:17 001 V830 EFTA00196797 CLEARED 1HRWGH niCkLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Nave York 10179 3 c/ Cash Flow Analysis THIS PERIOD Income Summary 714S PERIOD YEAR TO DATE Dividends 120,000.00 381.091.20 Opening Balance $-31,742,917.44 Substitute Payment 0.00 85,222.00 Dividends/Interest 120,000.00 Credit Balance Int. 0.00 398.34 Amount Credited $120,000.00 Total $120,000.00 $466,711.54 Dividends/Interest Charged -48.074.84 Margin Int. Paid -48,074.84 -129,739.07 Amount Debited $48,074.84 Net Cash Activity 71,925.16 Portfolio Composition Closing Balance $-31 670 992.28 sNOR! LONO CashiCash Equivalent Equities 31.670.992 74.175,563 Cash Balance Summary Total $31,670.992 $74,175.563 ocean* CLOSINO Margin -31.742.917.44 -31.670.992.28 Net Cash Balance $-31.742,917.44 $-31.670.992.28 Beer. Screams SOC.r.t.81 Cap. 0 -4 Metselech Cella Noah Beccidon. Nev. Tuft 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD *II 1. 2004 THROUGH *11 30.2004 ACCCUNT humeri TAXPAYER WEBER On Fee LAST STATEMENT March 31.200a Short Cash & Equivalent 29% 027 OS6164:13:17 001 Your Portfolio Allocation Equities 71% Untivoecl Frown oenole debt beano, onto* Or, rnalee vela, The elowInn percemso, io dr ied kern to Mnol.te markei mks, ci vc. palioo V830 EFTA00196798 CLEARED IHRWOH ITS OW,E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Beer. SZeirns SON, bel GOP. Cc* Mon:tech Contet Noah BecdO/n. New Ye* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PEF000 * 11 1. 2004 Your Portfolio Holdings THROUGH ACEGURT NUMBER April 30.2004 CASH & CASH EQUIVALENTS TAXPAYER NURSER On File LAST STATEMENT Much 31.2004 IAAFIXE1 ESTIMAIED CURPENT DESCEIPTION SYMBOLCUSIP DUMMY PRICE VALUE !ANN INCOME VELD 1,44 CASH BALANCE -31.670.992 TOTAL CASH & CASH EQUIVALENTS $31,670,992 EQUITIES Equities & Options ADC! IMRCE1 CHEWED DESCOPTION SYMBOUCOSIP 719E OUANTITY MICE VALUE ANNUAL INCOME YEW nt) BANK OF AMERICA CORP BAC MRGN 100.000 80.4900 8.049.000 320.000 3.9756 WALT DISNEY CO HOLDING CO DIS CASH 250.000 23.0300 5.757.500 52.500 0.9119 WALT DISNEY CO HOLDING CO DIS MRGN 1.000.000 23.0300 23.030.000 210000 0.9119 FLEXTRONICS INTERNATIONAL FLEX CASH 100,000 161000 1.610.000 LTD GALYANS TRADING INC GLYN CASH 150,000 9.4900 1.423.500 IFIL(IST FIN ITAL) IFPSF CASH 100,000 3.5520 355.200 8.869 2.4969 EUR1 INVST MBNA CORP KRB MRGN 1,000,000 24.3800 24.380.000 480.000 1.9688 TYCO INTERNATIONAL LTD TYC MRGN 100,000 27.4500 2.745.000 5,000 0.1821 VECTOR GROUP LTD VGR MRGN 412,658 16.5400 6.825.363 660,253 9.6735 Total Equities& Options $74,175,563 $1,736,622 TOTAL EQUITIES $74,175,563 $1,736,622 027 05.01,04:13:17 001 V830 EFTA00196799 CLEARED THRWGH ITS wilekLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 5 c/ Your Portfolio Holdings (continued) YOUR PORIFOLIOHOLDINGSESTIMAIED ANNUAL INCOME $1.736.622 YOUR PRICED PORTFOLIOHOLDINGS $42.504.571 Transaction Detail INVESTMENT ACTIVITY SETTLETIEM TRADE DATE DA-5 TRANSACTION DESCRIPTION SVMEICLCUSP 04.20,04 JOURNAL WALT DI NEY HOLDING CO DIS JRL FM PER LOA Beer. Saea•ns S0CvAbel GNP. Dec Metscilech Contec Noah Becci0on. New Year 112013959 FINANCIAL TRUST COMPANY INC STATEMENT PERK* April 1.2004 THROUGH *11 30.2004 ACCCUNT NUMBER TAXPAYER WESER Cfl File LAST STATEMENT Muth 31.2004 WHINY PRICE DEBIT AMOUNT CREDIT MAOUNT 157000 0421/04 DELIVERED SENTIGEN HOLDING CP RSTD 9380646 .333.334 TOTAL DIVIDENDS DATE OESCRPRON 0000000SW 04101/04 MBNA CORP KRB REC 03115'04 PAY 04101,04 0.:ANTITY RATE 1.000.000 0.1200 DEBIT AMOUN' CREDIT AMOUNT 120.000.00 TOTAL $120.000.00 027 0601,04:13:17 001 V830 EFTA00196800 CLEARED THRWGH ITS niCkLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & CO. Inc. 383 Madison Avenue New York, New York 10179 6 o Transaction Detail (continued) INTEREST DATE DESORPTION 04/21/04 INT DB 0321 - BAL TOTAL SYMEICLOCUSIP 808f. SZeirns SOC.r.t.81 Gap. Ce4Metselech Cella Noah 0eock11n. Nev. Ye* 11201.3859 FINANCIAL TRUST COMPANY INC STATEMENT PER100 *II 1. 2004 THROUGH *11 30.2004 ACCCUNT NUMBER TAXPAYER WEBER OR File LAST STATEMENT Muth 31.2004 WANillY RATE I%) DEBIT AMOUNT CREDIT AMOUNT 48.074.84 $.48.074.84 Endof Statement 027 0501104:13:17 001 V830 EFTA00196801 CLEARED THRCOGH RS WitCkLY OHnE0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York. Nen York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE ZI3HERMAN.IRA ‘...inv.uearstearns.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 5 Your Messages 7 Your Portfolio at a Glance TOTAL VAWE OF SECURITIES MIS PERIOD 79,766,029 NET DEBIT BALANCE -31,742,917 NET EQUITY THIS PERIOD $48,023,112 NET EOUITY LAST STATEMENT 49,442,495 CHANGE SINCE LAST STATEMENT -1,419,384 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Cash 8 Equvalent 11111111111111111 I I FINANCIAL TRUST COMPANY INC 0/0 AMERICAN YACHT HARBOR • 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio Equates — Roza repro any MICMAC* a rontoorig of chaDts or stocks. °Moogd as dawns to p5u. lo Gent Sonic.: at 800614.1428: a yet to Clam SONIC.. at 8020. Steam &canes Ca,. 0Hol.letotali Coma Noel. Brodbm NY. 112014059 $31.742.917 $.3I .865 41 I $79.766.029 $81.307.906 Current market vaue OE Last statements market value Short market value Beer. Steams SedritAl Corp. Coo McommA Comer HMO en:Ck/01. New sem I r201.3r3S9 FINANCIAL TRUST COMPANY INC STATEMENT PERIOD February 28.2004 THROUGH March 31.2004 ACCOUNT NUMBER TAXPAYER MANNA On File us" STATEMENT February 27.2004 Sit INN BulmOTY a for ofOrmaaml Otani. cold It Is 'd :land IS a Um (100.niert Ratal.rg should be retailed for your records See revers* safe for immure riconatan 027 01,01,00:12:65 001 Y829 EFTA00196802 CLEARED 1HROUGH RS wilekLY 0"E0 SUBSIDIARY Beer. Saea•ns SOC,r4.91 00,8. Ceol.levalech Cantet Noah Broeklln• New Ye* 11201.3859 FINANCIAL TRUST COMPANY INC 2 ale STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0401,04:12:55 001 V829 EFTA00196803 CLEARED 1HRWGH ITS niCkLY 0‘1e.E0 SUBSIDIARY BUR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 3 Cash Flow Analysis THIS PERICO Cash Balance Summary OPENING aosne OpeningBalance $-31,865,410.90 Cash 261,556.06 0.00 Funds Deposited 2,809,355.19 Margin -32.126.966.96 -31,742,917.44 Diwclendsknterest 159.841.20 Net Cash Balance $-31.865.410.90 $-31.742.917.44 Miscellaneous 85,222.00 Amount Credited $3.054.418.39 Funds Withdrawn -2,887.500.00 Income Summary IMPEND° YEAR TO DATE Dividends Interest Charged -44.424.93 Dividends 159.841.20 261,091.20 Amount Debited $-2.931.924.93 Substitute Payme

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