Statements

Statements CONFIDENTIAL SDNYG,00351679 EFTA_ .4371 EFTA01260609 BEAR STEARNS OFFICE SERVICING YOUR ACODUNT Bear. Steams 6 Co. Inc. 383 Madison Avenue New York. New York 10179 (212) 272.2000 =ARID MROJGH ITS YI1CLY OV* SLIBROtARY Mom Sown sacs Cot 0wmeuctech teeter Qum eccethrt me. York 11201.3869 (2121 2721003 FINANCIAL TRUST COMPANY INC ACCOUNT EYE ill IC NARA IILEPralvf VISIT OUR 112 (Slit Avrw.bearsteartis.COM What's In This Statement Financial Summary 3 III1 II Il II l l l l l lllll l ll lSI !III'S FINANCIAL TRUST COMPANY INC STAlittaa PiAMO December 1. 2004 DOIOUGH Deternber 31.2004 ACCOVNT RAMER TAXPAYER MAZER On Fl* LMT sinews." Itramber 30.2004 Your Portfolio Holdings 4 C/0 AMERICAN YACHT HARBOR Transaction Detail 5 6100 RED HOOK SUTE 8-3 Fund Activity 10 QUAETERS 42 O m Trades Not Yet Settled Your Messages 13 13 ST THOMAS VI 00802.1348 rn IJ IJ 10 7.7 5 m r 089TS£00- 019- ANGS Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD 53.738.664 MONEY MARKET FUND BALANCE 65.990.490 Cash & Eturmlem NET EQUITY THIS PERIOD $119,729.154 NET EQUITY LAST STATEMENT 53.338.121 CNANGE SPICE OAST STATEMENT 66.391.034 There are no 'Stop Loss* aders or other pending buy or sell open orders on file for your account. Roam 'tool t. Manta at rcemmot t tate or Nods. RAMS as &Mew ea ma lo Mom Stoma it lWeYxi. or onla la Cowl Het. w oo Rama Socialim Cora. Cem akteoloth Gann Ark baxiaNN N.Y. lir:14650 Equets Market Value of Your Portfolio 178.399.636 S65.990.490 553.738.664 581.737.756 Curren( MBREet wade i n Last steramanrs menet value CI Men market value Sr Tie entry4 for iinsmnialaisunne Ode2 h Pd tonne as a Ma Corot. Ma to:email inth9 be rano ear ye arias. Sn worn We far mWln. Wanxilta 027 ormi0s.co 1B 031 Important Message If any information regarding 2004interest. dMdends. miscellaneous Income. gross proceeds or moral issue discount is required to be reported to the IRS for this account. a Consolda:ed Form 1099 wl be mailed to you by January 31.2005or a 10a2Stry Mardi 15.2005. TBS7 EFTA01260610 CLEARED MAGuan n %wear OANIK, Slainkirt la Sinn Smola Co. 14inerch C— lbw Oroolhn. Oan Yen 11201,459 12x1222.1000 PRONG& TRUST COMPANY INC rn 8 b.) IJ (-) 0 z m cim z H r T89TSEOCIND- ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 02? 0101/0500111 COI VIII EFTA01260611 0 0 BEAR STEARNS OFFICE SERYCINO YOUR ACCOUNT Sear. Stearns 5 Co. Inc. 383 Madison Arena New To*. New York 10179 (212) 272.2000 3 ri Cash Flow Analysis NIS KWIC Opening Balance 5-28.399,635.50 Securities Sold Money Fund Funds Depossed DiedendsAntcrest MISCOISIlle0113 76.155.563.42 305.229.36 28.974.025.30 240,796.00 35.500.000.00 Cash Balance Summary OPERDIC at al Margin -28.399.635.50 0.00 NetCash Balance 5-28,399.635.50 50.00 Income Summary Amount Credited $141,175,614.08 This PER:00 sua u) Dart 240.796.00 1.373.296.60 C Securities Bought -46.416,875.96 Substitute Payment trade Balance Im. 0.00 0.00 85.222.00 398.34 rn Money Fund Funds WithcMaan -66,295.719.71 -12.500.00 Total 5240796.00 $1.458.916.94 Erniderdsenterest Charged -50,882.91 Foreign Tax Waltzed 0.00 -2.033.91 Margin Mt. Paid -50.882.91 -549,945.53 Amount Debited 5,112,775,978.58 Net Cash ActMty 28.399.635.50 r Closing Balance 50.00 Portfolio Composition *y MS et ara bobs sunl Rpm anal Sad RSA axe ision. lwl a dolt fro re alarrnsels BY RAS Ms n Tramsen Drug Z89TSEOCIA19- ANGS CasleCash Equealent Equities 65.990.490 53.738.664 CLEARED SOS ITS VASLY ORS SUMS lot Seals Sccurlies Corp. Ono lAsealoch Caller MbrIn ISS. Now Sr 112014160 (212) 272.1000 FINANOAL TRUST COMPANY INC STATES-MT PIPS 00011Tibet RSV& Decreer 31.2034 ACCES SUR TAXPAYER MAAS Collie LAST STATEMENT Ikr4triber 30.2034 Your Portfolio Allocation Total $119,720,154 ot7 01/0165Xer111 001 Cash& Eenal 56% Equom 44% Leafal :CrION SW* as Winn lalle• Ittol n ., Alan TM 1/0.144, :ermine a ogres . , Re atroS -Aria nom a wet %SR EFTA01260612 CLEA.AED THOtartin na wnotre ante sisocony 0 -n C in r EHTSEOCIN9- ANGS BBNIZ STURNS OFFICE SERVICING MR ACCOUNT Bea, Steams & Co. Inc. 383 Manson Avenue New York, New Yak 10179 (212) 272-2000 4 a, '3 Your Portfolio Holdings CASH & CASH EQUIVALENTS matt ESTPAMED CURRENT IXSOOntel SIIIECOCUSP Ovum" ewcc OWE Sal& ACME VELD OD DREYFUS CASH MANAGEMENT-31A DK= 65.990.490.35 1.00® 65.990.490 1.121.838 1.7000 INSTITUTION& SHARES EST. 30 DAY AVG YIELD 2.0100% TOTAL CASH & CASH EQUIVALENTS 565.990.490 51.121.838 EQUITIES taw Stern Sabo Om ilernoW. Com Dam Iroottr. We Mt 112014859 CZ121 222.10:0 FINANCIAL TRUST COMPANY INC or/Maar rfooD Detente( 1.2004 n410u3ni Deanne 31.2004 it Goa 'max unman µnom On FM LMT neer Womb:: 382034 Equities 8 Options The research ratings for Bear Stearns (BSC) are shovm for certain securities covered by the Firm's Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform: P - Peer Perform: U - Underperforrn. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; 1AV - Market Weight: MU - Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available. The various providers have normalized their ratings systems as follows: B - Buy: H Hold: S = Sell. The ratings information contained herein is for ifformatkinal purposes only and is not intended to provide tax, legal or investment advice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent. third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent. third-party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at www.bearstearns.com or can call (800) 517-2327 to request that a copy of this research be sent to them. CtSCMTM SYMXIC1150 ACCT 1µt 0MR,. PMCI WNW YAW( [mourn AMML POE CEMENT VELD 00 BEAR STEARNS COWPANIES INC BSC CASH 300,000 102.3100 30,693,000 300,0:0 0.9774 DEERFIELD TRIARC CAP CORP 244572202 CASH 1.000,CCO 15.0:00 15.000.000 ACCREDITED INVESTORS WiLOST FIN ITAL) IFPSF CASH 100,000 4.5140 451.400 8,400 1.8609 Eµ1 NM a KERZNER INTERNATIONAL LTD 971 CASH 4,400 60.0500 264,220 COT 01101/0544/ 1,1 001 VIA EFTA01260613 BUR STURNS FINANCIAL TRUST COMPANY INC STATDRINT PIRKO DOCente 1.2004 MAOISM Matter 31.2034 ACCOUNT %WIMP TAXPAYER KASEN On Toe vir STATEvENT wnemetr 13. 2004 5 y Your Portfolio Holdings (continued) Equities & Options (catnuet0 ACCT Vaal ESTMETED CURREN! DESCRIPTION SYIIOUCII9P TIC moony PROF VALUE 1.4144. IOU vIIID IT4 TOO INC TOO CASH 50.000 24.4600 1,223.000 0 BSC RATNG: STOCK NSECTOR SAY GARP RESEARCH MING: B 0 VECTOR GROUP LTD VGR CASH 326.990 16.6300 5.437.844 523.184 8.6212 WYNN RESORTS LTD YNNN CASH 10.000 66.9200 669,200 m TOON Equities.% Options $53.738.664 54331,564 TOTAL EQUITIES 553.738.664 5831,584 C in YOUR PORTFOLIONOLOINGSESHIAATE0 ANNUAL INCOME 51.953.422 YOUR PRICED PORTFOL IOHOLDINGS 5119.729.154 OFFICE SERVICING YOUR ACCOUNT Sew. Steams & Co. Inc. 383 Modiste Mtn* New York, New Yak 10179 (212) 272-2030 =sumo 110000.4 ITS mare ovniED SORSORRY Dur. Surf Saute% ORD- Ont Veatch Cana MYR Iseethin It at 20 2159 an) 272.1000 r P89TSEOCIA/9- ANGS I8 IJ IJ IN -J Transaction Detail INVESTMENT ACTIVITY untie ROWE DAN DATE TRULIACTION DESCIIPTION SMADOUOUSIP OUNTICN PnYA OMR /MONT CREDIT PROW 12/01/01 JOURNAL WALT DISNEYCOMOWINGCO 015 -250.000 Mem FROM HIE 1 TO 2 12101/01 JOURNAL ELECTRONICS INTERNATIONAL FLE( -100,000 LTD 10uRtIAL FROM TIE 1 TO 2 027 01/01/0501:18 001 VMIT EFTA01260614 In 8 IJ IJ -n in r 589T5£00- IA19- ANGS BEAR STBkRNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Irc. 383 Madison Avenue New VEAL New York 10179 (212) 272.2000 bau CLEAREO TØ DS OMED 8;11380ay Bee. Nuns SKIM.» ECCP. OR ~ROC, Crus iØ 8~ Nee W.% 11201.9859 1219222.1030 FINANCIAL TRUST COMPANY INC STATEWNT PEA,D0 13«eniber 1.2004 Transaction Detail (continued) INVESTMENT ACTIVITY (contnued) 57111D40(1 TRAM DATE DATE DESCIVION SM111)0UCUS8. OUVRITY PRICE 11010 /..Ex ACCOUMT ~ER TAXPAYER POAIRR raw crammer DEW Aget.141 Docomter 3l.2Ø On Gle November 30.2034 CRICC MONT 12101/04 JOURNAL WALT DISNEY CO HOLDING CO Ø 250.000 JOURNAL FROM PIPE 1 TO 2 12/01/04 JOURNAL FLEXIROMCS INTERNATIONAL FEB 100.000 LTD XuRNAL FROM TYPE I TO 2 12/03104 11/30104 BOUGHT BEAR STEARNS COMPAMES INC uNSOuCITED BSC 300.000 97.15000 29.163.005.00 BERR. SlEARNS 6 CO. INC. IS A SUBSIDIARY OF THE 6SUEB 12/08/04 12/01/04 BOUGHT BEAR STEARNS COMPAMES INC BSC 100 100.00000 10.08900 UNSOLICITED BEAR. STEARNS b CO. INC. 6 A SUBSIDIARY OF THE ISSUER. 12/09104 JOURNAL BANK OF AMERICA CORP RAC 100.000 JOURNAL FROM TYPE 2 TO 1 12/09/04 JOURNAL VECTOR GROUP LTD VGR 6.300 JOURNAL FROM TYPE 2 TO 1 12/09/04 JOURNAL BANK OF AMERICA CORP BAC -100.000 Miami FROM TYPE 2 TO I 12/09/04 JOURNAL VECTOR GROUP LTD VGR 4.300 EuRNAL FROM 117E 2 TO 12/10104 12/07/04 SOLD BANK OF AMERICA CORP BAC -100.000 46.52070 4.845.958.14 UNSOUCITED 12/10/04 12/07704 SOLD WALT DISNEY CO HOLDING CO DIS .192.100 27.30910 5.234.424.35 WITH RIGHTS TO PURCHASE COmmON STK UNGERCUT/4N CIRCUMSTANCE UNSOLICITED 12/10104 12/07/04 SOLD ROMA CORP KRB -322,800 28.23850 8.450.218.60 AVG PRICE SHOIWADETAILS ON RED ACTUAL CO NFIRIA TO YOUR AGENT ED UNSOUCIT 027 01.01.01.00:111 001 VN7 EFTA01260615 rn I8 b.) b.) —a 'JO 0 E I C in r 989TS£00-019-ANGS BEAR STEARNS ()MICE SERVICING YOUR ACCOUNT Boar. Steams Ea Co. Inc. 383 Madison Avenue New York. New York 10179 (212) 272-2000 7 cr /3 Transaction Detail (continued) INVESTMENT ACTIVITY (continued) SETTLOMIT OATE MCC Mn IPARSALICOI DESOOPTOit $11.110UCUSP °LWOW MICE MO AMOUNT OtIOR AMOUR 12/10/04 1207/04 SOLD TYCO INTERNAD3NAL LTD tR49XICITED lYC -100,000 34.16670 3.410.585.04 127100E 12/07,04 BOUGHT TOO INC urcoucno TOO 50.000 25.94890 1.300.45000 12/10/04 12/07/04 SOLD VECTOR GROUP LID U UCITED VCR -50.000 16.10810 802,381.15 SEE NSO NOTE 'V ON BACK 12/13/04 12/08/04 SOLD BANK OF AMERICA CORP AVG PRICE SNOVM-CETAILS ON REEI BAC -100.000 46.03870 4.594.757.33 ACTUAL CONFIRM TO CUR AGENT UNSOUCiTED 12n3114 17/0EVO4 SOLD VECTOR GROUP LTD AVG PACE SHOWN-DETAILS ON REQ VGR 4.300 16.14900 101,353.31 ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED SEE NOTE *5' ON BACK 12/13/04 17/08/04 SEND MBNA CORP AVG PRICE SNOYM-DETALS ON REO KRB -99.900 26.00240 2.591.579.97 ACTUAL CONFIRM TO TOUR AGENT UNSOLICITED 12/14/04 12/09/04 SOW WALT DISNEY CO HOLDING CO WITH RIGHTS TO PURCHASE COMMON 015 457.900 27.29470 15.193.877.80 51% WIDER CERTAIN CelCumSTANCE UNSOLICITED 12/14/04 12/09/04 SOW MBNA CORP AVG PRICE STIOWN-DETARS ON RED KRB -527.300 26.07600 13,717,910.05 ACTUAL CONFIRM TO YOUR AGENT utisouctdo 12/15.04 TRANSFER BEAR STEARNS COMPANIES INC BSC -100 12116/04 JOURNAL BEAR STEARNS COMPANIES INC BSC 100 JOURNAL FROM TYPE 2 TO 1 12/16/04 JOURNAL BEAR STEARNS COMPANIES INC BSC 300.000 JOURNAL FROM TYPE 2 10 1 CLEARED THPOur334 Os WKOwe okureo Su3StetAXY IleabScowns Scotian CO". Cne Memo:0 Cats New Breaept Pin bit 11301-3859 012) 2721000 F1NANCUL TRUST COMPANY INC STATE30.1 PEAK* DeCtillber I. 2004 nnIOVON Genoa 31. 2004 ACCOutif Warn. TAxibmit MAMA On Ele LAST STATClitxr No. mow 30. 2004 CO7 OVOIJOS:00:111 001 Ve67 EFTA01260616 WARM 1101C,J01 RS w1404.1X OWNED &JIMMY En 8 b.) b.) IN -J 0 -n C in z r L89TSEOCIN9- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York, New York 10179 (212) 272-2000 I a Transaction Detail (continued) INVESTMENT ACTNITY (contiwed) SIMDADII TM( OAR DAR MOSCOW 12/16)04 JOURNAL DISCRPT011 TOO INC JOURNAL FROM TYPE 2 TO 1 SYNBOUCLISP DUMMY TOO 50.000 NEC( Bor. Sown Seci.ma Coo Cee Verotto Caen ram ennry.rw. cm( .20 3$9 12th 212.1000 FINANCIAL TRUST COMPANY INC STATEIIENT pt December 1.2004 rmitOuGn DOCW1100( 31.2004 AMP"? %AMER TAX.1•1,1 µMIER On nle VST STATZWENT Novembef 30. nos DENT WOuta MCC !WWII 12/16/04 JOURNAL VECTOR GROUP LTD VCR 376.080 MANN. FROM TYPE 2 TO I 12/16104 JOURNAL BEAR STEARNS COMPANIES INC BSC .100 JOURNAL FROM TYPE 2 T01 12/16/04 JOURNAL BEAR STEARNS COMPAMES INC BSC 400400 JOURNAL FROM TYPE 2101 12/18/04 JOURNAL TOO INC JOURNAL FROM TYPE 2 TO 1 TOO -50.000 12(18104 JOURNAL VECTOR GROUP LTD VGR -376.990 JOURNAL FROM TOE 2 TO 1 12/20/04 12/15)04 SOLD WALT DISNEY CO HOLDING CO WITH RIGHTS TO PURCHASE COMMON SIX UNDER CERTAIN CIRCUMSTANCE AVG PRCE SHOwN-DETAILS ON REQ ACTUAL 026/IRM TO YOUR AGENT CIS -500.000 27.65060 13,794,971.46 12/21/04 12/18/04 SOLD REKTROMCS INTERNATIONAL LID UNSOLICITED WE MARE A MKT IN THIS SECURITY AVG PRCE: DETAILS ON REQUEST UNIT PRICE 14.462500 DIFFERENCE 0.0600110 FIB -100.000 14.39250 1.439.211.32 12/21/04 12/16/04 SOLD MINA CORP AVG PRCE Sii0m4OETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED Kf t8 -50.000 27.68800 1.381.382.60 12/2301 12/17/04 8OuGHT DEERFIELD TRIARC CAP CORP 244572202 1.000.000 15.00000 15.000.000.00 ACCREDITED iNvEsmits PROSPECTUS uNDER SEPARATE WA Oh 01Xn0060.72 COT Yrne7 EFTA01260617 IT1 8 IJ V.2 -8- IN so O -n C in r 889T SE00-019-ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams 8 Co. Inc. 383 Madison Avenue New York. New York 10179 (212) 272-2000 9 *I'3 Transaction Detail (continued) INVESTMENT ACTIVITY (continued) StfRDIENT IRAN OAR OAT! IRANSCIION DESCRIVIION SHROUDS OM= MCC 0280 noir MIXT MOM! 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 PRICE SHONN-DETAILS ON RED ACVµ COMMA TO YOUR AGENT AS OF 12)28104 VECTOR GROUP LTD UNSOLICITED SEE NOTE'S ON BACK WYNN RESORTS LTD WE ARE ACTING AS PRINCPAL SARNEY MAKER: COMEQUNALENT MSSION FEU) IS A COmMISSION • DEMOS ON REQUEST UNSOUGRED Ka. YGR WYNN 4.400 -50.030 10,000 80.83340 16.00000 67.48000 267.935.96 875.405.00 796.978.28 TOTAL 5-46.416.875.96 578,155,563.42 DEPOSITS AND WITHDRAWALS 022100 0008011 ITS Wroav 0I4C 028283aRy tam. Swann Seambet CA Cno.4“70088 Cerny Rath /VS iias Tort 112014859 alb 272-1000 FINANCIAL TRUST COMPANY INC STAIII/EXT PERIOD Cktarnt/0. I. 2004 048020.1 Occurs.- 31. 2004 AOCCuPIT WIVNIER '0886v0it /ADAM On Fie UST 812728687 Wftembel 30.2004 OAR IANLLCiDM DESCRIPTION OEDB AISJI7 CREDIT masa 12/01/04 FUNDS REC ENDS WIRED TO CM8ANK FROM 1J:00.000.00 PMCRWAI CHASE BANK CO043363593801 12/10/04 MHOS NEC ENDS WIRED TO CMEIANK FROM 10,021,975.30 NORTHERN CHGO F074345007.301 12/13/04 FUNDS REC ENDS WIRED TO CMBANK FROM 65.662.00 NORTHERN CHO) F0643480CCES01 12/16/04 CHECK CK IPMC3492650N ACCT 12.500.00 GEORGE V. DELSON 12/23/04 FUNDS REC ENOSWIRED TO cinema FROM 2.888.388.00 GUARANTY MC IR F0543580038101 027 01/010.0218 COI V867 EFTA01260618 CLLONO 71•231X.N rts wycw Come SUS440.0ty I gEtZZOO- V.L.43 0 -n C in r _ 689TS£00 INS ANGS BEAR STERNS (WM SERVCING YOUR ACCOMIT Sea/. Stearns 8 Co. Inc. 383 Maison Avenue Now York. New York 10179 (212) 272-2000 10 or .9 Transaction Detail (continued) Soy Scorn Stones Cup. he woman Cent Perth 0240r. Nee Ton 11201-38S9 DUI 272.1000 FINANCIAL TRUST COMPANY INC STA MARC Pire00 DeceTON 1.2004 na0UON Decenter 31. 2004 ACCO.0.1 Pa.A004 TAnAyelt MAMA On rk DEPOSITS AND WITHDRAWALS 0202401UCCO LAST STATDANT NOverte 30.2034 OAR tRINSAttION OLSCRPTIOw 12/29/04 FUNDS REC Ft/DSC/MED TO CITIBANK FROM 01102242. NA NYBD DOD43642036301 cc- AmOait CROW AVOUPO 15,000,000.00 TOTAL 5-12.500.00 528.974.025.30 MONEY FUND ACTIVITY an NONSACION CCSOUPTCH Sayan* COMM pea own Melee DIMIT MOM NOVO 12/01/04 OPENING BALANCE 0.00 imont BOUGHT DREYFUS CASH MANAGEMENT-CL A DIC)0I 10,021,975.30 1.0000 10.021.975.30 Disnruncedm. SHARES 12/13/04 BOUGHT OREYFUS CASH MANAGEMENT-CA A MCC 7,523,745.39 1.0000 7,523,745.39 INSTITUTIONAL SHARES 12/14/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A 0105( 28.911.787.85 1.0000 28.911.787.65 RtS111110:016. SHARES 12116/04 SOLD OREYFUS CASH MANAGEMENT-CL A -18500 1.0003 12,500.00 MSUIUTIONAL SHARES 12/21/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DOM 1,564,662.49 1.0000 1,564,662.49 I/STRUM/1AL SHARES 12123/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A ednnmORAL SHARES DICEY 2.976.388 1.0000 2.976,386.00 12129/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICW 14.858635.32 1.0000 14,853,635.32 INSMUMNAL SHARES 12/29/04 SOLD DREYFUS CASH MANAGEMENT-CL A OIC1N -146.354.68 1.0000 146.364.68 INSTITUTIONAL SNARES 12/30/04 BOUGHT DREYFUS CASH MANAGEMENT-CA A CAW 443,525.36 1.0000 441525.36 INSMUD3NAL SHARES 027 ounicisoim 001 EFTA01260619 0 m cim H r 069ISE00- IND- ANGS I8 IJ INJ so IJ se BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Beer. Steams & Co. Inc 383 Madman Avenue Now York, New Yoh 10179 (212) 272-2003 11 :? ' ! Transaction Detail (continued) MONEY FUND ACTIVITY NoreinueLl 002 %O'DAY tRAMSAC110r4 OISCRPOON ca,ARO) 114b3U0H Ifs Mega OWNED SueSOVJP• Int. SNOWS Soma Cam Ore ereneech — Myth toecOr. Nov York 112014859 :2121272.1000 FINANCIAL MUST COMPANY INC sTATIO41.7 PEW° December 1.2004 IIIROu0H December 31.2004 ACCOair teen= TrO:PAreP NulaOt Om File LAST STATeleDit November 30.2004 0102Xte• Quurtav meet t r aqua ar m MOW 12/31/04 SOW DREYFUS CASH IAANAGEMEIN-Ct A DOI 146.364.68 1.0000 146.364.68 eaSTOUTIONAL SNARES `34 CLOSINGBALANCE 65.990.490.35 5-66.295.719.71 5305.229.36 DIVIDENDS art COCRIPTCNI 3114,14/01341 OLIMM13 PATE CO 12/22/04 BANK OF AMERICA CORP BAC 200.000 0.4500 RFC 12/03/04 PAY 12/2204 CHEW MOM OWN AMOteir sici.000.op 12/30104 VECTOR GROUP LTD V09 376,990 0.4000 150,796.00 REC 12/1704 PAY 12/30/04 TOTAL 5240,796.00 INTEREST 420E COCeenwi 12/21/04 NT D8038436056 11/1 • 12/20•02.75991% BAL 13794971.AVG22123684 TOTAL 5.50.882.91 ?SAVVY PATE "..) 000 MOM MCC /443.r.' 50.882.91 010105:0918 W' 'heti EFTA01260620 SSEtZZOO-V.L.43 BEAR STEARNS OFFICE SUmCiNG YOUR ACCOM Bear. Stearns 6 Co. Inc. 383 Madison Avenue New York. New York 10179 (212) 272.2000 CLEARED T143COON Ta MC.s DAME/ SMILSJOLASV Sax Smam/. Staten Coy. Oat Mama tern Seth &Gay,. Nes Yen 11201-38S2 42121272.10M FINANCIAL TRUST COMPANY INC 12 a •3 Transaction Detail (continued) MISCELLANEOUS ACCCALL.3 MAW ?Amine. KAMER on Fae LAST sTATENINT Nara. 30,2004 art IMMO titMSACT1311 eaceinot DEW MOM CREW /MOUNT 12/02/04 JOURNAL JOURNAL FROM TYPE 1 TO 2 1,000,000.00 12)02/04 JOURNAL JOURNAL FROM TYPE 110 2 1.000.000.00 0 12108104 12108104 JOURNAL JOURNAL JOURNAL FROM TYPE 1 TO 2 FROM WO-940FM 35,500,000.00 35.500.000.00 z -n 12/08/04 12/13/04 JOURNAL JOURNAL JOURNAL FROM TYPE"' TO 2 JOURNAL FROM TYPE 2 TO 1 35,500.000 00 2.761.972.75 12/13/04 JOURNAL JOURNAL FROM TYPE 210 1 2,781,972.75 C in z 12n 5/04 12/15/14 12121/04 12/21/04 JOURNAL JOURNAL JOURNAL JOURNAL JOURNAL FROM TYPE 2 T01 JOURNAL FROM TYPE 2 TO 1 JOURNAL FROM TYPE 110 2 JOURNAL FROM TYPE 210 1 28.911.787.85 50.882.91 28,911,787.85 16,615,545.40 12/21104 JOURNAL JOURNAL FROM TYPE 2TO 1 16.615.545.40 12/21/04 JOURNAL JOURNAL FROM TYPE 1 TO 2 50.882.91 r 12/22/04 12/22/04 JOURNAL JOURNAL JOURNAL FROM TYPE 2TO 1 JOURNAL FROM TYPE 2 TO 1 90000.00 90.000.00 TOTAL 5-84.930.188.91 5120,430,188.91 _ T69TSECIO IN9 ANGS STATEMENT KIL500 Oecerar 1.2304 11460LKin Decarter 31.2004 027 01/0341Call eel Vial EFTA01260621 BEAR STEARNS omcc SENVICSC YOUR ACCOUNT Bear, Steams & Co. Inc. 363 Ma6son Avenue Now York. New YOUR 10179 (212) 272-2000 13 a SL Trades Executed Pending Settlement CLEARED &ROUE& in VMOµY DANED SuSSIDVXY &W. Seers Sari& Cap. One Mercer Car &Rh &errs Maa at 20 3859 1212)272.1000 FINANCIAL TRUST COMPANY INC STAMMERS PEROD DeDenber 1.2004 Espeolnes Decernme 31.2004 AOCOur sAPIRet TAXPAYER Weer On Re LAST STAirrset November 30. 2004 0 z m m z simoion MCC OAIF OA& TRANSWOOM DESCRIPTICa SIMICUSIAP CIUMITRY MCI Cflr meow molt AVOW 01103/05 12/29/04 BOUGHT KERZNER INTERNATIONAL OD AVG PACE SHOWNDETAILS ON REO ACTUAL CONFIRM TO YOUR AGENT UNSOLICITED 01/03/05 12)29/04 SOLD VECTOR GROUP LTD UNSOLICITED 50 NOTE'S' ON BACK KZL VGR 5.500.03 -50.000.00 80.8252 152500 339.842.12 809.475.98 TOTAL $339.842.12 5809.475.98 Tie ISM 0,0•• 0) Not spas A aw We era a In exert Your messages r Z69TS£00- 019- ANGS As part of the Nat10418 Association of Securities Dealers (NASD) Investor Education Progam, you may obtain information on the NASD's Public Disclosure Progam by contacting the NASD at telephone number (800) 289.9999 or via the Internet address which is vmw.nasOr.cern. In addition. a brochure explaining the Public Disclosure Program is available from the NASD upon request. End of Statement 02) 01.01,05015, 11/ 00) EFTA01260622 0 -n C rn r £69TSEOCIA19- ANGS I8 IJ T.) 00 00 BEAR SIMMS OFFICE SERVICING YOUR ACCOUNT Bete. Steams & Co. Inc. 383 MaJoon Avenue New York. New Yak 10179 (212) 272.2000 ACCOUNT EXECUTNE TELEPHONE VINT OUR wEaSill ZICHERIAANIRA AWN Irearste.YnS.COrb What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 6 Trades Not Yet Settled 6 I FINANCIAL TRUST COMPANY INC Cr0 AMERICAN YACHT HARBOR • 6100 RED HOOK SUITE 8-3 QUARTERS #2 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio TOTAL VALUE Of SECUteMES THIS PERIOD 81.737.756 GN Equiant S-28.399.836 & 1 828.338.981 IC CCII BALANCE -28.399.636 Equates 381.737.756 377.4880133 NET EQUITY DOB PERIOD 553,338.121 Eli Current market vaNe NET EQUITY LAST STATEMENT 49.152.082 Last statemenrs market yak* Stmo moths rake CHANGE SIVCE LAST STATEMENT 4,186,039 There are no 'Stop Loss ciders or other pending buy or sell open orders on file for your account. PI. bawl Orensles 4, 424-eiebt d YEA. 44 142444. baca421 as esiberse by b Clem S•04444 r 1:04414-14a 0. Jolts 1, Cord foni !aim feller Smarts Swabs. co' . Cr* Wines Caber Mini Breadr. NY b2CI.SISS St TVs ta—rray Ibr HOlblrtbal SWPOSOS M/. els n:4 rifle() as s tax extreet T•is ...met nada be rellieed ftry1141154erils S44 sem tee fee mutt 077 1201 /04.1442 001 CLEARED 11.011C41 ITS VileOLLY OWNIDD SUISICCARY Isar SWOTS SOOSSeS Co' One 1.10201Kh Cent Tor &04UJn. Nn van, 112014450 C2121 272.1000 FINANCIAL TRUST COMPANY INC VATISASN1 PE/b00 October 30. 2004 114.M.13M NCserrter 30.2004 ACC004/ Widertit TAXPANIR MAWR cn The LAST STATEmEnt October 29.2004 1126SA EFTA01260623 CLZARM 1700000 ITS IMC(SY ow0ED 9.10/100.4Y M✓. Siert( 0xurta 0010 0. WO.Itch Genie WT &odor. S. rcrk 112014869 (2121 272.1007 FINANCIAL TRUST COMPANY INC 9811,ZZOO- V.L.43 0 z ii C in z -H r _ V69TS£00 IN9 ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 12221/04.14:42 WI SSA EFTA01260624 COMM %MOWN ITS MOLLY OMB) SUMPS IT] 8 b.) IJ so 00 --3 BEAR STURNS OFFICE SERVICING YOUR ACCOUNT Sear. Steams & Co. Inc. 383 Madison Avenue Now York, New York 10179 (212) 272-2000 3 etc Cash Flow Analysis MO PERM Income Summary ME TOSCO TEM IODATE Opening Ba lance Dividends/Interest Amount Credited 5-28.336.981.49 1.250.00 51.250.00 Dmderds Sul:Stevie Payment Credit Balance Lnt. Total 1.250.00 0.00 0.00 51.250.00 1.132.500.60 85.22200 398.34 51.218.120.44 0 DhidendsAnterest Charged 41904.01 Foreign Tax Withheld Marge) Int. Pald 0.00 43104.01 .2.033.91 499,062.62 -n Amount Debited Net Cash Activity $41904.01 42.654.01 C Closin0Ela lance 5-28.399,635.50 Portfolio Composition rn CatNCash Equivalent %CRT 28.399.636 LIMO Cash Balance Summary Equtia 81.737.756 CPUOTE OXISM Total 521399136 581.737.756 r S69TS£00- 019- ANGS MoViri -21336.981.49 -28.399.635.50 Netcanseance 5.21336.981.49 5-28.399135.50 027 7.7777.07,7 4 At 0DI W. Wan Swat' Coo One 517426507 Gray Now areihn. IMP YOM 11201400 212t 272-t020 FINANCIAL. TRUST COMPANY INC STATEMENT MECO October 30,2004 %moor NOMMEM 30.2004 ACCOUNT WARM TAXPAYCR Nallat On Flit LAST STAMPS? October 29.2004 Snort Cash & Equintle 25% Your Portfolio Allocation EN DO 75% DC, Ws 00.:41 au mien ro te InC*1 Maki' NILS The SACSM toCetlige a dIrelied nun V* ankle maga( nu el rui vas,' EFTA01260625 CLEWS 1144:uCei Ri vmaty 04440, sU1151014.” O m C in r 969TSEOCIA19- ANGS IS b.) so OO OO IJ BEAR STEARNS OMCE SERVICING YOUR ACCOUNT Bear. Stearns & Ca. Inc. 3B3 Mather, Avenue New Tack, New Yak 10179 (212) 272.2000 4 et. Your Portfolio Holdings CASH & CASH EQUIVALENTS mart oN CASH BALANCE TOTAL CASH & CASH EQUIVALENTS 5-28.399,636 SO•01,01334 Wet 1351111ARD CURREM Pea WW1 Mv0JIL WM* ICA Oil -28,399.636 es. Sows Socinun Cap One Woe° Crow Math amen Illw Yin 11301.3434 inn zreicce FINANCIAL TRUST COMPANY INC simper' 440/40 October 30.2004 1341C430/1 ridarbor 30. 2004 Ai:Comer 01.104411 warmy4 144.ent On vie usr voninser Oct0Oef 29.2004 EQUMES 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 stocKs total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as folkres: 0 a Outperform: P — Peer Perform: U — Underpedomi. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO ti Market Overweight MW = Market Weight MU — Market Underweight. In cases where a BSC rating is present. the name of an independent, third-party research provider and their rating may also be displayed, where such research is evadable. The various providers have normalized their ratings systems as follows: B a Buy: H Hold; S - Sell. The ratings information contained herein is for Informational purposes only and is not intended to provide tax, legal or investment advice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent. third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent. third-party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost. Customers can access this research at www.bearsteams.com or can Call (800) 517-2327 to request that a copy of this research be sent to them. 0330/1440N 3,0400L.15/ BANK OF AMERICA CORP BSC RAMC.: STOCK 06EctoR ma N.A.B. RESEARCH. LL.C. RATING: B WALT DISNEY CO HOLDING CO DIS BSC RATING: STOCK P/SECTOR MO BOYARS ALTMAN& VIV/POOff RATING: B 4201 TM MEI VAR/11 VALLI (STIPM115) witt.L.41014 CUM!! YEW no MRGN 46.2700 200,000 NAMMY 9.254000 360.000 3.8902 CASH 250.000 208800 6.720000 52.500 0.7813 Or? 11101/M;14:42 COI WMA EFTA01260626 MIMED THROUGH ITS VIVOLLV OWED) SEES CARP rri 8 D.) IJ IN so BEAR STEARNS CfTICE SERY1CWG YOUR ACCOUNT Bow. Stearns & Co. Inc. 383 Matson Myrna New York. New Yolk 10179 (212) 272-2000 est s— $00.44404 ORR Csee Human. Grew Nan test" raw Vat tI 2014169 Mt) 272.1C00 FINANCIAL TRUST COMPANY INC 5ct Your Portfolio Holdings (continued) STMELIDIT PR TEROutal Oaober 30.2004 NOreffIX14 30. 2004 LECOVEV MEW UMW, MASER 01 Ft LAST SLATIPACC DE10440 29.2004 Equities & Options (continued) sat wenn tsnmuto CURRENT OESCRP104 01/130ECUSEL IIIE LELVITEY rest mut maws. scout VELD (ID WALT DISNEY CO HOLDING CO aS MRGN 1,030000 26.8800 26.880.000 210.000 0.7813 BSC RATING: STOCK RSECTOR MO BOYARS ALTERNATIVE VIEWPOINT 0 RAMC: B FLOCTRONICS INTERNATIONAL RE( CASH 100,000 14.3500 1.435.000 LTD BSC RATING: SHOCK &SECTOR MN -n ATLUITTS RESEARCH RANG: H IFIL0ST FIN DAL) FPSF CASH 100,000 3.8580 385.800 8,200 2.1255 EUR1 INS CL C in MBNA CORP KRB MRGN BSC RATIK: STOCK 0/SECTOR MW BOYARS ALTERNATIVE VEYROPIT 1.000.000 26.5803 26.560.000 480.000 1.8072 RADNG: 8 NCO INTERNATIONAL LTD TYC MRGN 1C00:0 33.9700 3.397.000 5.000 0.1472 VECTOR GROUP LTD VGR IARGN 433.290 16.4000 7.105.956 693.264 9.7561 Total Equities& Options 581.737.756 31.808.964 r TOTAL EQUITIES 581,737.756 51.808.964 YOUR PORTFOLIO HOLD I NGS E ST I MAT E D ANNUAL INCOME $1.808.964 YOUR PRICEDPORTFOLIOHOLDINGS 553.336.120 L69TS£00- 019- ANGS 027 120104.14 42 00' SSA EFTA01260627 0 m C rn r 869TS£00- 019- ANGS BEAR STEARNS OffICE SERVICING nut: ACCOINT Boar. Steams 6 Co. Inc. 383 Madison Avenue New York New York 10179 (212) 272-2030 6 a Transaction Detail DIVIDENDS CLE4.10 Deco.. no waraa.v Wimp ASSOoRt W Siam Snolles Cee len.444I, Ceder 747,2, bode" 744* /A 2014649 (2121272.1[00 FINANCIAL TRUST COMPANY INC STATELItra PO O0 0CWblf 30.2004 THROW.. 7.10.embee 30.2004 ACCOUNT NOSIER woextiOt NuideliR On file LAST RATSISIT OCIOber 29. 2004 045E Cf SCAM* rnapcucuSP 0414047171' RATE 01 CE WT PACUM OEM Avow 11/01/04 TYCO INTERNATIONAL LID REC 10,01/04 PAY 11101434 TYC 100.000 0.0125 1,250.00 TOTAL 51.250.00 INTEREST WE 01301.110II SrueOuW5, WORRY MR MI KW MOAT caw 410.11/1 11/22/04 INT DB 038-66056 10/21 • 11120 002.6189614 SAL 28335731 AVG28336175 63.904.01 TOTAL 5-63,904.01 Trades Executed Pending Settlement SE71184011 WOE Mrt art nalacnoe Duane, 12/03/04 11/30/04 BOUGHT 97eIn3i.C..19P BSC 07.4Parre PRICE OW MOAT CREDIT m.4174,47 BEAR STEARNS COMPANIES INC UNSOUCTIED BEAR. STEARNS &CO, SUER S A SUBSIDIARY OF THE ISSUER 300.00000 97.1500 29.163.005.00 TOTAL S29.163.005.00 50.00 11,4 sae lodes N r I Se we tee MICA was ii/ISMIL 027 'mu:4.14.42 ma 960410 EFTA01260628 CLEARED Own RS WICALY Offieb =MORAY rn IS IJ IJ TZ i t 0 m r 669TSEOCIN9- ANGS BEAR STEARNS OrrICE SERVICING YOUR ACCOUNT Bow. Steams & Co. Inc. 183 Madison RYCR10* New Tor& New Yak 10179 (212) 272-2000 bur Sian $40771•1 Cap. O( Meer CRS North 6123,11 PRP Tog 11101.3369 WE) 2721030 FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE DCHERMANIRA TELEPHONE VISIT CUR wEBMIE wom.bearstearns own What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail Your Portfolio at a Glance TOTAL VAUJE OF SECURITIES THIS PERIOD 77.489.063 NET CENT BALANCE .28.336.981 Cash & EmAaiont NET EOINTY This Pomo 549,162.082 NET EOURY 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 Egad Peale Pegert Y./ arow e• ace-ecep al teem w deele„rettee4 es eelend 033 b Clef Seven a, 100.344420. Sowei Bee Veen. Storm Co.n. 0-e weeeete Cofer Yen SysoliSs 1.20, 010, swayer FTRICO OCCOERN 1.2001 THROIX.31 wooer 29.2004 ACCOUNT WARM TAXPAYER MAMA On Cie Lar sTAnsieHr Sectente 30. 2004 FINANCIAL TRUST COMPANY INC CM AMERICAN YACHT HARBOR • 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio szta3s.een S-2:023.447 $77.489.063 $73.312.149 Conn motet value ME I statements market YON im Stet Media yam Honiara ta rto-Hoceoi anew' 0/y. IS not Rte*: is 3 the CO 3433e1C. Iltifteet 0.3.10 1 reared ler yea teeere• S44 rears pea nr rypensee oforryinn 027 103304 '1 07 001 TATA EFTA01260629 CWflO THROLOH 03 -an 0y0.40 SuBSOWer ker. 3tecens — Carp. One Yemeni Cain Myth *WO" New rem 11201-3339 Ma 272.1000 FINANCUR TRUST COMPANY INC 2 ea rn IS IJ IJ IJ 0 z ii C in z -H r OOLTSE00- 019- ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 011 1013000:1110 Wl 912 EFTA01260630 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York. New York 10179 (212) 272.2000 3 4, I Cash Flow Analysis IT4S 91909 Income Summary NIS $(909 MU' TO DATE Opening Ba lance 5-28,923.447.42 Dividends 120.000.00 1.131.250.60 StOstkute Payment 0.03 85.222.00 DividondsInterest 120.00000 Crete Bain° Int. 0.03 398.34 Miscellaneous 526.380.00 Total 5120.000.00 $1.216.870.94 0 Amount Credited 5646.380.00 Foreign Tao YAtriheld 0.00 .2.033.91 DiridendsAntereu 04 , 90 -59.914.07 Margin Inc. Paid -59814.07 -435,15861 m Amount Debited 859.91487 C in Net Cash Activity Closing Balance 586.465.93 5.28.336.981.49 Portfolio Composition SIORT CaslVCash Eq.:Nolan 28.336.981 LONG r TOLTS£00- 019- ANGS Cash Balance Summary OPEIPKG aeons Margin .28,923.447.42 48,336,981.49 Net Cash Balance 5.28.923.447.42 S-28.336.90.49 02.01110 nacuroi ITS YO•(ti, 010.483 SUEE100.RY OW. 511•n Stoles Co? Ow 14terctech Cots Not Inoltn. Noy Yet 11201.1469 cm) 272.1003 FINANCIAL TRUST COMPANY INC STATEIAENT n1000 OCIOECE 1.2004 ssoccon October 29.2004 ccouLfr /Ann TAXPAYER winICR Co Fre LAST SEATEmPiE Seotembed 30.2034 Entities 77.489.063 Your Portfolio Total 528.336 981 577 489 063 Allocation 027 104004 11 50 C01 Stal Casa & EgtiVa 26% 74% founts Unit t1O14 amen Owls 0w tale. sraVo. Vol ',ow virus ml aloulon rwtoWl• * fen< Fo.• tie a:wag ma* vat* el yaw ralbla 5164 EFTA01260631 CLEN110 Tnnetcm rts %Tao, OveseD Sussman -n C in r ZOLTS£00- 019- ANGS BEAR STEARNS OFFICE SERVICING Via ACCOUNT Bear. Steams & Co. Inc. 383 Madson Avenue New York. New Yak 10179 (212) 272-2000 4 a e Your Portfolio Holdings CASH 8 CASH EQUIVALENTS OLSCSIPTISN CASH BALANCE TOTAL CASH & CASH EQUIVALENTS 1-28.336.981 SrinialCuSur PURIM (SIVA= CL NT Ouunnv NICE vAUM Ankt91 NCO.* YlilD .28.336,981 Sur. Sin Smsita COM- O,* Vet Otelai Colo Win Wont/1 Men Yost 11201.19.19 1212)272.1003 FINANCIAL TRUST COMPANY INC STATDAPO FIJSOD October 1.2034 9490USTI October 29. 2004 ACCCV41 µMIER TAXPAYOI Kant On rile LAST &wives, Semente 30 2004 EQURIES Equities 8 Options The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the Firm's Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform: P = Peer Perform; U - Underperform, The second rating represents the rating of the coverage universe relative to the regional broader market index, The key fa the sector rang is as follows: MO = Market Overweight: MW - Market Weight: MU - Market Underweight. In cases where 8 BSC rating is present. the name of an independent, third-party research provider and their rating may also be displayed. where such research is available. The various providers have normalized their ratings systems as follows: B - Buy: H - Hold: S = Sell. The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent. third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at www.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. ACC1 ILTAXET BYNUM CLINSOrt OISCAITIOk SnAtOJCUSts TYPO 011.441Wf PRICE iMLE 0.14.1A1 %CPA HSDN BANK OF AMERICA CORP BAC MRGN 200.000 44.7900 8.958.000 360,000 4.0188 BSC RATING: STOCK WSECTOR In! N.A.B. RESEARCH. L.T.C. RAMC: B WALT DISNEY CO HOLDING CO DIS CASH 250.000 25.2200 8,305.000 52.500 0.8327 BSC RATING: STOCK FvSICTOR MO BOYARS ALTERNATNE VIMOINT RA1740: B 017 10/Xt04.11:60 031 C•14 EFTA01260632 Cu/ASO 71.0310.4 viCtix CAMEO SUSSICIAPY BEAR STURNS OFFICE SERVICING YOUR ACCOUNT Beet, Stearns & Co. Inc. 383 mmason Avenue Now York. New York 10179 (212) 272-2000 Deaf. Stearns Scestin fop rM Metrtrech Cenler Nan Broeihn. Ip. von 11201415e (312i 272.1X0 FINANCIAL TRUST COMPANY INC 5 Your Portfolio Holdings (Continued) raw Pire00 no:own ACCOuVr kt•MER mann maw Omen 1.2004 Oacter 29.2004 On Ms Equities & Options (common) UST STATEMENT September 30.2004 ACCT WONT ISIWATED OAIREXI OCSOISMON STIOX0.01P ME WANITIV MX WALE ANNUAL NOOK NEW EN WALT DISNEY CO HOLDING CO DIS NIGH 1.000,000 25.2200 25.220.003 210.000 0.8327 BSC RATING. STOCK P/SECTCR MO BOYARS ALTERS:LOVE YIEWPOOrt 0 RATING: 8 FLEMR0mCS INTERNATIONAL FLEX CASH 100.030 12.0500 1.205,000 OD BSC RAW: STOCK CVSEttOR MW -n ATLANTIS RESEARCH RATING: H IFTLOST FIN HALT IFPSF CASH 100.000 3.5740 357.400 7.800 2.1824 EUR1 INYST a. C in MBNA CORP KR8 MRGN 85C RATING: STOCK 0/SECTOR TAY BOYARS ALTERNATIVE VIEWPOINT RATING: B 1.000.000 25.6300 25.630.000 480020 1.8728 z TYCO INTERNATION/J. LTD TYC MRGN 100.000 31.1600 3.115.000 5.000 0.1605 VECTOR GROUP LTD VOR MRGN 433.290 15.4600 6.698.663 693.264 10.3493 Total Equities& Options S77869.063 51.808.564 r TOTAL EQUITIES 577A89,063 $1.808.564 YOUR PORTFOLIO HOLD I NGSESTIMA1E D ANNUAL INCOME 51.808.564 YOUR PRICEDPORTFOLIOHOLDINGS 549.152.082 EOLTSEOCIA19- ANGS 017 MIXT% II SO COI VII64 EFTA01260633 CLEARED MRDuCm ITS mace OARED SUBS0AM 0 -n C in r POLTS£00- 019- ANGS BEAR STEARNS OHM SERVICANG YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New Yak. New York 10179 (212) 272-2000 6 ar e Transaction Detail DIVIDENDS CM otsceme4 10101/04 MBNA CORP REC 09/15/04 PAY 10/01/04 TOTAL ODILStesns Stones Cap. or. Wretch Wm limn ONENM Ina TM 11201.3859 271.1000 FINANCIAL TRUST COMPANY INC STATINENT PERma WON 1.2004 Moteums Coate 29.2034 ACODART NuweER TAIPARER LLAMA On Fee LAST STATtt4tC September 30.2004 STIMOJCUSIP OUNAM EAR a DENT MOW OEM NNW KRB 1.000,000 0.1200 120,000.00 $120.000.00 INTEREST art COCSORTON 10/21/04 INT 0B038-66056 09/21 • 10/204202,51866% 8AL 28277087 AVG28545548 TOTAL Snatt/CUS• GUMMY PAX MU Om AMOUr ChM mom 59,914.07 5-59,914.07 MISCELLANEOUS art LOWY MANSALMEN OESCRIPTirm 10/01/04 JOURNAL CENT NA01an elf! Nara FROM 04041258 178.088.00 FROM 037-50075 348.312.00 10/01/04 JOURNAL TOTAL $526.380.00 End OE Statement tut 101000110 001 EFTA01260634 0 z m C in z r SOLTS£00- 0/9- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Ben, Steams & Co. Inc. 383 Mason Avenue New Yoh. New York 10179 (212) 272-2000 CLURIO THROUGH Hi WHOLLY OrRIE0 SUIRRealte bar. Awns Sams O241. OI Wetrtfecti Com lent erceUr. tin Tat 11203/59 2711OOO FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE ZICHERMAN,IRA TELEPHONE vlSIT OUR wEBSITE www.teantearns.com What's In This Statement Financial Summary 3 FINANCIAL TRUST COMPANY INC STATORINT sumo THwoucN ACCOola MUMMER TeatRANTR Nam Val STATnera SepternW 1.2004 Seoembee 30. 2004 On Fie Most 31,200a Your Portfolio Holdings 4 C/0 AMERICAN YACHT HARBOR ' Transaction Detail 6 6100 RED HOOK SUITE B-3 Your Messages QUARTERS #2 ST IMO/AS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio TOTAL VALUE OF SECURITIES 1146 PERIOD 73.312.149 1-28.923.447 Cash & iota, S-29.121.602 NET DEBIT BALANCE -28.923.447 Equkia 173.312.149 172-1031.0IIS NET EOM THE PERIO0 944.388.702 Gunera market value NET EQUITY LAST STATEIAENT 43.679.493 ME IAN staternencs market vatic I= Skit Rana Vat CHANGE SINCE LAST STATEMENT 709.209 There are no 'Stop Loss' orders or other pending dry or sell open orders on file for your account. Ps. %sin any Moreno. n en:4•X Ce CYO. ce .Mn.Nand so .1•4nrad a rau beiwilf•NonacE0411-/42t tr velb Union eat. WSW. Soc.nes Ca". Cep* ilbtersen Citify Awn lhatnr. Nr I12,01.3055 STK "NI enrrary lir rbrtrialoial wows vet tem et eiCe0 as a tat dewing. The to:ennt WW1 be manes lovas nw Sea tobw•e sde anwnal &Omuta. 027 laol,o4o> 49 001 EFTA01260635 ra caw, TigtOLCH ITS WriCtLy CM%E0 SullSOURY Bear. Stan %wiles On. O.e WeltUCti Cris Plain liwity% at I 201.31159 1214 372.1CCO FINANCIAL TRUST COMPANY INC 2 en 0 0 C rn z -H r 9OLTSECICIA19- ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 02? 1001AN:O3:M C01 ylbt3 EFTA01260636 BEAR STEARNS MICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York. New York 10179 (212) 272.2000 3 a9 Cash Flow Analysis 1101100 Income Summary 114$ HERM 'AM 10 OM Opening Ba lance 5-29.121.602.33 Dividends 255.063.20 1.011.250.60 Substr.ute Payment 0.00 85.222.00 Dvider4sfinterest 255.06120 Grade. Balance Int. 0.00 398.34 Miscellaneous 13.81 Rani 5255.063.20 51,096,870.94 Amount Credited 5255,077.01 Foreign Tax Withheld 0.00 -2.03191 Dividandsinterost Charged -56.922.10 Margin Mt. Paid -56.922.10 -375.244.54 -n Amount Debited 5-56.922.10 Net Cash Actinly 198.154.91 C in Closing Balance 5-28.923.447.42 Portfolio Composition SNORT CasNCash Equirelent 28.923.447 tarn Equities 73.312.149 Cash Balance Summary Total 828.921447 873.312.149 r LOLTS£00- 019- ANGS I8 b.) IJ Ctosec Margin -29.121.602.33 -28.923.441.42 Net Cash Balance 5-29.121.602.33 5-28.923.447.42 027 10.0104b7 49 CO1 CUOMO it. in NWl OV•tn> Sun Min M. Simms Sernee CALK ore kreetioth Cern fen n en% In Tort 11201.1652 2123 212.1000 FINANCIAL TRUST COMPANY INC STATIP•PiT PEROD Seger:We- 1.2004 INIMX.Ca Seuember 30.2004 ACCa retr ninth UneVER NUMMI On Fix LAST stork en Atoka, 31.2004 Snort Cash a &ink 28% Your Portfolio Allocation Framers 72% KfC0•4 den:. tibM* INK/ tiOt tuns nun no natal porotemmt erne rem P. a.M.SAN mere w a ycn w10010 nel EFTA01260637 0 0 m C in r SOLTS£00- 019- ANGS IS I p J IJ BEAR STDMINS OFFICE SWUNG YOUR ACCOUNT Beat. Smarm & Co. Inc. 383 maaisen Avenue New York. New York 10179 (212) 272-2000 4 a • Your Portfolio Holdings CASH & CASH EQUIVALENTS M VAI AL M UE N ESEWATED CURRIA11 Ot30.1104 STINCAPCUSP IKO/ MEOW TEM 00 CASH BALANCE -28.923.447 TOTAL CASH &CASH EQUIVALENTS 5.28.923.447 EQUITIES =RAF= THROWN ITS YoNttlY OWNED SUESOMAY M. Sitars SeaelEes Com. 0'. IkOolech co RAS EreclOr. n. at 70 -SOS 121212720000 FINANCIAL TRUST COMPANY INC STATEMENT veto, secumsee I. 2004 THROWN SficirnOtv 30.2004 PCCOVIT NUMEER TAXPAYER Pornet On no LAST STATELIEWT Alrty.rit 31.2004 Equities & Options The research ratings (or Bear Stearns (BSC) are ShOwn (or certain securities covered by the Firm's Equity Research Department, The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform: P - Peer Perform; U - Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO - Market Overweight; MW = Market Weight MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available. The various providers have normalized their ratings systems as falcnirs: B - Buy: H = Mold; S - Sell. the ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent. third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent. third-party research on certain companies covered by the rim's research is available to customers of Bear Steams at no cost. Customers can access this research at vnwr.bearsteams.com or can cal (800) 517-2327 to request that a copy of this research be sent to them. ACCT DESCAJPIION SYMECUCUSIP mE BANK Of AMERICA CORP BAC AIRGN BSC RAMC: STOCK 0/SECTOR MW NAB. RESEARCH. LL.C. RADNG: 8 WALT DISNEY CO HOLDING CO 015 CASH BSC BARG: STOCK PISECTOR MD BOYARS ALTERNATNE VEYIPCIAR RAMO: CAMAIMY MIKA VAREET VALUE ESnrmico S3AM. NONE CURRENT MEIN 200.000 43.3300 8,666,000 360.000 4.1542 250.000 22.5500 5,637,500 52.500 0.9313 027 te‘01/04.07:40 001 VDU EFTA01260638 GAME° Togiar../4 its voiCu Ow ED SIALICIARY rri 8 IJ V.2 O BEAR STEARNS (*FCC SERVICING YOUR ACCOUNr Bear. Steams & Co. Inc. 383 Madison Avenue New York. New Yea 10179 (212) 272-2030 Sea. $t to Stant Cap. one 1Arpcup" Coors /Wei 111111,0T1 Its Von 11201.3850 (21111714= FINANCIAL TRUST COMPANY INC 5 Your Portfolio Holdings (Continued) atcrevatirr Pomp T.ROUGH ACOC, wts./SER Septurter 1. 21]6 Stplerrtce 30.2004 TAxPAYER mAeart Co No L'S' STA-VIIVer Auyst 31. 2004 Equities & Options (conthied) rat Win MUM Oiled! °escarps SYLISOLCUS1P 'III OUANTSV met VALUE Ma WOW MOD in WALT WHEY CO HOLDRIG CO DIS MRGN 1,000,000 22.5500 22.550.000 210.000 0.9313 BSC RAnnt: STOCK P/SECTOR MO BOYARS ALTW4ATNE VIEWPC•fr RAMC: B FLICHRONICS INTERNATIONAL FLEX CASH 100,000 13.2500 1.325.000 LID BSC RCM: STOCK 0/SECTOR MW -n ATIANTS RESEARCH RATING: B 'MUST FM ITAL) IFPSF CASH 100.000 3.5530 355.300 7.700 2.1672 CURT INVST Cl. C in MBNA CORP BSC PANG: STOCK 0/SECTOR MW BOYARS ALTERNATNE VEWPOWT RAMC B KRB LIMN 1,003.000 25.2000 25.200.000 480.000 19048 TYCO INTERNATIONAL LTD 7C MRGN 100.000 30.6600 3.066.000 5.000 0.1631 VECTOR GROUP LTD VCR MRGN 433.290 15.0300 6.512.349 693.264 10.6454 Total EqUitiOS& Options 473.312.149 41.808.464 TOTAL EQUITIES 573.312.149 51,808.464 r 6OLTSECICIA19- ANGS YOUR PORTFOLIO HOLDINGSESTIMATED ANNUAL INCOME 51.808.464 YOUR PRICEDPORTFOLJOHOLDINGS 544.388.702 100104.01:40 001 VMS EFTA01260639 m cim H r OTLTSEOCINDANGS I8 IpJ IJ IJ BEAR STEARNS OFFCE SERWCAG YOUR ACCOUNT Bear. Steams .6 Co. Inc. 383 Madsen Avenue New York. New York 10179 1212) 272-2000 $ re Transaction Detail INVESTMENT ACTIVITY SETTLEMENT VAX Dalt TIMMACTEST CCOSP110.4 Syme 09/29/04 09/20/04 BOUGHT VECTOR GROUP LTD VGR SEE NOTE t ON BACK STK ON ON 412658 5115 REC OP/20/04 PAY 08'29,04 AS OF 091204)4 CLLAAED THROUGHTw VOARLY 00,0.0 SLASAMARY es. 3'—, Situlit CRP. Coe &women Cfl at bozo" may Tort 11201.3059 (212) 2,2.1[00 FINANCIAL TRUST COMPANY INC STATE3RAT IVACO SepterrOtf 1.2004 Inmptica., Septertef ]0.2004 ACONAR Nati( TAVAYER amt On LAST STATMOR Avg qt 31.2004 awry PACE 0181: AURAL( CR10' WC(‘' 20.632 DIVIDENDS OAR oesauenow sweewcuse cam PAR (SI DEW AWN( CR= ALCM 09/24/04 09/29/04 BANK OF AMERICA CORP REC 09103/04 PAY 09124834 VECTOR GROUP LTD RCC 09/20604 PAY 09029/04 MC VGR 200.000 412.658 0.4500 0.4000 90403.00 165063.20 TOTAL 5255.063.20 INTEREST omy oescErimok SYUNKJWSP OJAMITI RATE OR COO AVON' CREW /MOUNT 09/21/04 INT DB 038-68056 08/21 • 09/20 602.27018% EIN. 29121802 AVG29118197 56.922.10 'OTP. S-56.922.10 oxY 100104:07,49 CO1 VOIR EFTA01260640 CLEARED IRROLGAI ITS WAOLLY OMCD oasolort 0 -n C in r VELTS£00- 019- ANGS 8 IJ IpJ O LAJ BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York, New York 10179 (212) 272-2003 7 re 9 Transaction Detail (continued) DISTRIBUTION DATE TWEACTErl DESCRIPTION 09/02/04 STOCK SPLIT BANK OF AMERICA CORP SIX SPUR ON 1=00 MIS REC 08/06Mo PAY 00/27/04 SYMICOCINt BAC CCO RATE AO Dee Sian 540.41144 Cap. CAR Renee Celt Ranh lemee New Yoe 11201.3859 (2121 2T2.1000 FINANCIAL TRUST COMPANY INC stArEme AT Ammo SeNenter 1 2004 THROVON Septette 30. 2004 Atee NY «RAMER TAXPATER IRAMEIt th Pb LAST sTATEmwr Awn 31.2004 0180 ANON! CREW AMOUR, TOTAL MISCELLANEOUS DATE VOW TRANSCO% DESCSIIPTION 09:30/04 CASH-LIEU CREDIT AVOUNT VECTOR GROUP LTD CASH IA LIDA OF .90000 REC 09/20504 PAY 09'29 CT 13.81 TOTAL $13.81 027 100'040)49 001 V083 EFTA01260641 to I8 b.) V.) 2 0 m C in r ZILTSEOCINDANGS BEAR STEARNS aria SERviCING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New VA. New York 10179 (212) 272.2000 8 ce 9 Your messages Bear. Steams Securities Corp. Net Capital and Net Capital Requirements: At May 31. 2004 and July 31. 2004. the Company's net capital of approximately 43.6 billiOn and 43.6 biliOn was approximately 6.8% and 6.5% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately S1.1 billion and 41.1 billion by approximately 42.5 billion and 42.5 billion, all respectively. A complete copy of the Bear. Steams Securities Corp. Statement of Financial Condition is available on the web site v/ww.bearsteams.com. Alternatively. to request a free printed copy please call - tot free 1-866-299-9331. 0..CARIO THROUGH rra woOtor Owe) SLOSCIARY Sew scam Secutles Coo. Ole MOrceeth Ca &wen vi York 11201.3859 rtz 212.1CCO FINANCIAL TRUST COMPANY INC STATTlisrer PttCO SePterthet 1.2034 TxA0D0v Septa-rote 30.3004 Atassii 74.804n4 r4.4•98. On Fie LAST tralt.eXT AupS1 31. 2004 Securities and Other assets in your account are the Gm's collateral for any margin loan made to you. If the securities and other assets in your account 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 a other assets in your account(s). • The firm can sell your securities or other assets without contacting you. • You are not entitled to choose ixtiich securities or other assets in your account(s) are liquidated or sold to meet a margin call. • The Ism can increase its 'house maintenance margin requirements at any time and is not required to provide you advance written notice. • You are not entitled to an extension of time on a margin cal. 027 1001,04:07 49 cox ole3 EFTA01260642 BEAR STEARNS arc( SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madden Avenue New York. New York 10179 (212) 272-2000 9 a a 0 -n z C rn z r EILTSEOCIN9- ANGS This statement is provided to explain Bear. Steams & 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 (NBBO). BSC receives no cash payment or other consideration for such order routing other than favorable execritions or executions of limit orders at no additional charge. End of Statement aa' 04ARID ITISOursi ITS wHOLLY OSSEO IOSSOURY Nes Sa ns Seost0 0c* Ore Utecetch Casa Pan baits New at 20I.1409 0121 2720040 FINANCIAL TRUST COmPANT INC STATVADR PERM SISSembIS 1.2004 THROUGH Septernbe 30.2004 Accow, KAISER mceAVER KAMA On Fie LAST STATruber sows 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: httpiriwriv.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 1001.04.07:49 COI VS63 EFTA01260643 En IS b.) O 0' IpJ z ii C in z r VELTS£00- 019- ANGS BEAR STEARNS CITE( SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Matson Avenue New York. New Vol 10179 (212) 272.2000 ACCCOPIT EXECUTIVE ZICHERMANTRA TELEPHONE VISIT OUR MOSHE wmtlathorgearns man What's in This Statement I Financial Summary 3 FINANCIAL TRUST COMPANY INC You Portfolio Holdings 4 C/O AMERICAN YACHT HARBOR ' Transaction Detail 6 6100 RED HOOK SUITE B3 QUARTERS *2 ST 'MOWS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio ciona. ei•Aerti $-29.121.602 5.29.070.063 107AL value Of secueiTES TIES PERIOD 72.801.095 NET oar emANcT -29,121,602 NET mum THIS PERIOD $43.679,493 NET EQUITY LAST STATEMENT 44,186,707 CHANGE SINCE UST STATEMENT -507.214 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Oprem meeker mike NM last statements market yaw )=I Stew market vatka Pete lepyl gory Oileerat a. rsnacnt el chins of Sea Maw s. Ottond ytu, ChieR Sienst N SOC-411.1•24; Ow.* to Cart Sows, Bow Von Soot Mut On. Ce• N.pC.A 6~ mem. awake. Nv !120,3460 572001.095 573.256.770 Cat= na0U044 ITS stmatt-Y ottitart auaeouur Oar Suomi Soarillin RIM WAWA orate myth bcatfk NM tot 11201-7158 12121212.1400 FINANCIAL TRUST COMPANY NC STATIMIENT PPM Mg 31.2001 110477/.0 &gust 31.2004 ACCOUNT Wigan t'OPAYEJI mama On Fie ;AST STATENENT lull W. 2004 sunny), S to mmg0o prpnel DIVA I ml ottecitd 30 a tax 62Cormit Tit :IMMO efult: be teased for rut WOK* Sn reels SI Or nOtrtal rOannaDao 021 00011)4,08 31 COI ‘1382 EFTA01260644 WARM TraCNO4 ,.,c.. 0%47101/ SULSOAFr, r SIN SWIM Swoon Ca,. Oro warmth CAM( WI% 12001027 MPx Olc 20 3819 13121 2720000 FINANCIAL TRUST COMPANY INC 2 0 0 in z -H r STLISEOCIA19- ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 02/ 0901890931 001 l62 EFTA01260645 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams a Co. Inc. 383 Madison Al/tale New Yak. New York 10179 (212) 272-2C00 3n Cash Flow Analysis DRS PC230 Income Summary 1113 ,c Co TEAR Meng Opening Balance Ohidendsenterest Amount Credited $.29.070.063.39 1.250.00 51.250.00 Duiderxls Substitute Payment Credit Balance Int Total 1.250.00 0.00 0.00 $1,250.00 758.187.40 85.222.00 398.34 $841.807.74 0 Deldendsenterest Charged -52.788.94 Resign Tas Withheld Margin Int. Paid 0.00 -52.788.94 -2.033.91 -318.322.44 Amount Debited S-52.788.94 ii Net Cast, ActMq -51.538.94 C in Closing Balance $-29,121.802.33 Portfolio Composition SHOAT Car-Wash Equaalem 29.121.602 WIG Cash Balance Summary Equities 72.801.095 000434 0105116 Total 129.121.602 172.901.095 Magin -29.070.063.39 -29.121.802.33 r Nat Cash Balance 1.29.070.063.39 S-29.121.602.33 TELTSEOCIA19- ANGS IJ IpJ JCL O 027 CLEARED 043Oure. ass 1ThOux Omit° stasautt Bev Yen Swart*. Cep. Ca• Manna GMT Nets tn." Mew Von 11201.1852 0 10 272.1000 FINANCIAL TRUST COMPANY INC STATEMENT PEP000 My 31. 2034 1141000m Aug451 31. 2004 IC.COLKT Wind 750AYIR KHMER On Fik LAST ST431144044 Jul, 30.2004 Shan Casa & 28% Your Portfolio Allocation ka51545:1 folvs ova* ow tan nee Yen 5.55•1 Was Tn. scam :414143.. I IPS< Won CIP letelala IW114 Hu 4)50 250'041 030'0/ Ce 31 001 V052 EFTA01260646 CLIARSO MIOUGYI FIE WVOLLY OVMEO suesoaer Er1 IS IpJ S IJ -n C in r LILTS£00- 019- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOurn Bear. Stearns & Co. Inc. 383 Medeson Avenue New Yoh. New Yoh 10179 (212) 272-2000 4a Your Portfolio Holdings CASH & CASH EQUIVALENTS OESC*113n CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $-29,121,802 SnaliCt/Cutt 141.0tET ISTMAIED CUNENE OSWITYY PRICE wLLf ANNuAN WOW MOD MO -29.121.602 EQUITIES Few 5*a-ft Secabas Co..p Wasann Crnw Nom Sew., Nn cdc • 2) 3439 I2113212.1000 FINANCIAL TRUST COMPANY INC SUMMIT /MOO Mi at. 2004 IMOUM Aictift 31. 2004 ,ern «r µNKR TOZPAYM NMPIIER 011Fle LAST STATEWNY My 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 fist rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform: P = Peer Perform: U - Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight: PAY - Market Weight: MU - Market Underweight. In cases 'Mere a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available. The various providers have normalized their ratings systems as follows: B - Bur H - Hold: S = Sell. The ratings information contained herein is for informational purposes only and is not Intended to provide tax. legal or irwestment advice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent. third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost. Customers can access this research at vnwr.bearsteams.corn or can cal (800) 517.2327 to request that a copy of this research be sent to them. ACM WAICLI 131110ARD OARDIT MKPIPI1M SYMOLOMP nfl DAMN PME MU AMA/ WOK MUD r% BANK Of AMERICA CORP BAC AfiGN 100,000 44.9800 4.498.000 180,000 4.0018 BSC RATIIG: STOCK 0/SECTOR MW NAB. RESEARCK LLC. RATING: B WALT DISNEY CO HOLDING CO 06 CASH 250.000 22.4500 5.612.500 52.500 0.9354 BSC RATING: STOCK FISECTOR MO BOYARS ALTERNATIVE VIEN9OPIT RATING: B 027 06010/10821 OM MIS2 EFTA01260647 BEAR STERNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Nadu,' Avenue New VEAL Nov York 10179 (212) 272-2030 5v' Your Portfolio Holdings (continued) Equities & Options (concaved) OLSOISITal SYYSOUCLIST Ma Mt 0.100./ MKS War VALUE ESTRUM Oak ACME CURAINI OSLO PO WALT DISNEY CO HOLDING CO CIS MGR 1.000,000 22.4500 22.450.000 210.000 0.9354 BSC RATING: STOCK RSECTCRM3 BOYARS ALTERNATIVE WEIWOINT RATING: B FLEORONICS INTERNATIONAL FLU CASH 100.000 12.4100 1.241.000 LTD EISC RAMC: STOCK OISECTCR MO APANTIS RESEARCH RATING: 8 m BROST FIN ITAL) TEMP CASH 100.000 3.2170 321,700 9.128 2.8374 EUR1 INYST CL C MBNA CORP KRB MRGN 1,000.000 24.1400 24.140,000 480.000 1.9884 in BSC RAMS: STOCK 0/SECTOR MW BOYARS ALTERNATNE VIEWPOINT RATING: TYCO INTERNATIONAL LTD TYC MGR 100.000 31.3200 3,132,000 5.000 0.1596 VECTOR GROUP LTD VGR MRGN 412.658 16.7400 6.907.896 660.253 9.5579 Total Equities& Options 568.303,095 51.596,881 TOTAL EQUITIES $68.303.095 51.596.881 r WELTSEOCIN9- ANGS I> 8 IJ 0.) O 02/ 00010M0831 001 CLLASID mown TS NIMMIY orace0 SuSSIOMY M'. Samna Sacwires Cars Ora larSouth Cense Nam Srealar. Paw Yu* 11201.3*S. (2123 212.1000 FINANCIAL TRUST COMPANY INC STAMEN" PfP100 .1u/131. 7004 11010UOM Myatt 31.2004 AOCaM MINER TAXPAYER POW OT EJe LAST STATTIAINT JUIS 30 2004 YMa EFTA01260648 C.X.010 rmeOuM ITS MOLLY <MED SueSomv rn I S IpJ IJ -n C in z r 6TLISE00- 019- ANGS BEAR STEARNS OFFICE SERVICIOG YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Mackson Avenue Now Yak. Now York 10179 (212) 272-2000 6 Your Portfolio Holdings (continued) OTHER HOLDINGS Pending Stock Distributions ACT WI XT MMUS° ELMO DISOWTON SWAOUCUSP ME 0.ucony tee ULU! AMU ACME YRID aJ BANK OF AMERICA CORP MC MRGN 100.000 44.9800 4.498.000 180.000 4.0018 SIX SPLIT ON 100000 SH5 REC 08/08/04 PAY 0127104 Total Pending Stock DiStElbUEIM1 54.498.000 1180.000 TOTAL OTHER HOLDINGS 54,498.000 1180.000 YOUR PORTFOLIO HOLDINGSESTIMTED ANNUAL INCOME 51.776.881 YOUR PRICEDPORTFOLIOHOLDINGS 543.679.493 Transaction Detail DIVIDENDS Be.,. Mans Swat Gap Ore ihswwah Caen Nfl wocor. Wes vat lint -ASS 2121272.1000 FINANCIAL TRUST COMPANY INC STAMesrt 'taco lull 31. 2004 Twear4H August 31. 2004 Account rises TM:PAYER MRSER On Si* LAST swum? July 30.2034 out ECCRIFIMI SMalCuSle COMM MIEN) OWl APOAT CnOrt AuCtte 08/0204 TYCO INTERNATIONAL LM TYC 100.000 0.0125 1.250.00 REC 07101104 PAY 08102/04 TOTAL $1.250.00 027 090113.10401 Co! SOS: EFTA01260649 ctsno ThreDUOm RS Ve•XLY OWNED SUSSOARI 0 z m C in z -H r OZLISE00- 019- ANGS IS Ipp J IJ IJ BEAR STEARNS OFFICE SERVICING TOUR ACCOUNT Rey. Steams a Co. Inc. 383 Maclimn Avenue New Yoh- NOW 741k 10179 (212) 272-2030 7vr Transaction Detail (continued) INTEREST OUT 0TSCRFIX7ii 08/23/04 INT D8038-66056 07/21 - 08/20 802,101186 II 29068813 AVG29060217 TOTAL 5-52.788.94 SwAtql.cvsw but Swam Saarba Co Ore Ilartech C— *00*,. Wei Now Yet 112014 SO R12 2121003 FINANCIAL TRUST COWANY INC $1 **Neff PEF*00 JuN 31.2004 nce0O374 August 31.2004 Acccourt iuukeen ?AVANT* MAW Orl FIN Ler STATIMOrt eel 30.2004 pµSIRI Reit (V AI $T CRUX AuOuvrl 52.788.94 STOPI End of State re 021 oseio(ce 31 001 v.62 EFTA01260650 TO1NR0UNO0 TUTSEOCMANCIS I8 b.) IpJ BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Mac330n Avenue New Yoh. New York 10179 (212) 272-2OOO ACCOUNT ExEGu In MEPHONE VIM OUR IHEOSITE ECHE R3AANJRA vnyuGemsteems.com What's In This Statement Il...11...l..I.II..,..I.I Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 6 Your Portfolio at a Glance TOTAL VALUE OF SEMMES TIM PERIM 73.256370 NET DEBIT BALANCE -28.070.063 Cash a Equitelerc NET EQUITY MS PERMS $44,186.707 NET MUM LAST STATEMENT 49.113.488 GRANGE SPICE LAST STATEMENT -4.926.781 There are no 'Stop Lou' orders or other pending buy or sell open orders on file for your account. Para .e f.1 ari 6tearte Te an-nee: a ants a Teat nannt9 a alarad C en: Swan a 6406164426 n Tea 44 Ota Sett.. t 66v S,ew. Swint* Coa Or. 06•666% C6-16 Tata flan/., NV 112014649 Equtin FINANCIAL TRUST COMPANY INC 00 AMERICAN YACHT HARBOR • 6100 RED HOOK SUITE B-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio I 546.070.063 I S4AL772.876 173.256.770 $71.S815.364 Cart Mate value III last statement's market value l=l SMm Mbfkill %SOB cwt 11644-nny 8433 rn.334 3 cco'os Crly. t 13 nit liteided an en {Janet T1 unmet fl an be Mined Iw yti.r novas S44 new So Ice rpccthel 02/ 07.'3104041 001 0.EARED lIMICOCH rrS WITOLLY OWNIE0 SUMS:VARY Bea Sawn Seaton Cap Ole Slettath Cann Mai t%O,n. kw Yon 112014859 (21?) 272-1000 FINANCIAL TRUST COMPANY INC STATIWNT PS600 My 1.2004 Tlft0tGN Ali 30.2004 AOCOMiT 3.3.9.434ER TAXPAYER MAW On It LAST STATMENT June 30. 2004 41511 EFTA01260651 4WD) INFIOVON 178 VMXIV Ofo.ED SVISOVAY Om. SUn Searles c OR Veto*" Om. NOM Ur. New eY 20 38$& (21Z 2/24000 FINANCIAL TRUST COMPANY INC 2 C)0 -n in z r ZZLTS£00- 019- ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 01/31/04filuil COI YI.S. EFTA01260652 CLEARED ma:atm ITS %MOLLY 081CD SuBSOvav BEAR STEARNS arra SERVICING YOUR ACCOUNT Bear. Steams a Co. Inc. 383 Madison Avenue New Tot. New York 10179 (212) 272-2000 3 Cash Flow Analysis nes Pout Income Summary 145 PERM) 1TJP TO DA1t OpenIng8alance 5-28,77Z875.93 0Mdends 127.533.00 754,937.40 Substitute Payment 0.00 85,222.00 DividendsAnterest 127.533.80 klisceeanecus 24.618.788.69 Credit Balante nt. 0.00 398.34 ' Total 5127.533.00 S840.557.74 Amount Credited 524.746.321.69 Foreign Tax VAtNiald -2.033.91 -2.033.91 Funds Withdrawn -25.COOCC0.03 Mary Inn. Paid .41.475.24 -265.533.50 -n DitidendsIntemst Charged -41.475.24 WisceReineas -2.033.91 C Amount Debited 5-25.043.509.15 Portfolio Composition in Net Cash Activity -297.187.46 Cashreash 26.6019.9 SPORT 29.070.063 torai Closing Balance S-29 070 063.39 tens M Innhes d> Inealls aullwapp. re nal POMP la NS 0:6619 73.256.770 4414.8 40 kedges. aeratatdellb far r OW Walelltal aY 0.41. new a Transact 0414 Total $29.070.063 573,256,770 r ULTS£00-019-ANGS IS I p J IJ Cash Balance Summary OPOING 0x0580 Cash 1,658,956.03 0.00 Margin -30.431.831.96 -29.070,063.39 Net CashBalence 5-28.772.875.93 3-29,070,063.39 027 019104 08 41 001 Oat Zion 524.01.4 Cop. One Vetattn Cn 494 44101C 11201.3659 I21b 222.1C00 FINANCIAL TRUST COMPANY INC STAINS II 8FROD My 1.2004 11.190.44 My 30. 21:01 AOtOcte 4.4.41111 02054121 18242101 Co Flip LAST stvrnavr Am 30. 2004 Stott Cash a E 28% Your Portfolio Allocation Equon 72% Unhpfal pawn& aro. an tarn ardt., von wane 114 04244 nonnespotassenes Pen M 10401.01 Patin %tiara , celbo EFTA01260653 0 -n C rn r PUTS£00- 019- ANGS BEAR STEARNS OrrCE SErmairG YOUR /Cerium Boar. Stearns & Co. Inc. 383 Madison Avenue Now York New York 10179 1212) 272-2000 4s+ Your Portfolio Holdings CASH & CASH EQUIVALENTS Mean CASH MANCE TOTAL CASH le CASH EQUIVALENTS 5.29.070.063 5, 14801./CUS. 1.44RMT ESIMUTO 0.311100 OJAMITY PRICE MIX apt Mae IULO ri0 -29.070.063 EQUMES amino 114,CM114 rot m0..LY CeME0 81.411MMY Met Seams Stmees Cwp Ole AMMO, Woe Mon Mee,‘ Mu Mt 11301.3859 (212)272.1000 FINANCIAL TRUST COMPANY INC mATEMINT PERICO My 1.2004 71010uM My 30 2[04 ACeOurrt KAMM MAMMA NuuMn On F1 LAP STAMINT lune 30.2004 Equities & Options The research ratio gS (or Bear Stearns (BSC) are shown for certain securities covered by the Firm's Equity Research Department The frst rating represents the stock's total retwn relative to the other storks covered by that Analyst. The key for the stock rating values is as follows: 0 = Outperform: P - Peer Perform; U Underperform. The second rating represents the rating of the coverage unNerse relative to the regional broader market index. The key for the sector rating is as follows: MO - Market Overweight: MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present. the name of an independent. third-party research provider and their rating may also be displayed. where such research is available. The various providers have normalized their ratings systems as follows: B — Buy: H Hold: S - Sell. the ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice. Bear Steams is neither soliciting any action based on such information. nor endorsing any recommendation or opinion expressed by any independent. third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent. third-party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost. Customers can access this research at www.bearstearns.ccrn or can call (800) 517.2327 to request that a copy of this research be sent to them. A T vARCIT ESMAlt0 CURRIM IMMPTION MAMMA" Mt COMM PM MIX ANglal. iraCCM1 TIM ro BANK OF AMERICA CORP BAC MRGN 100.000 85.0100 8.501.000 360.003 4,2348 EIX itArwG: STOCK OISECTOR MN N.A.B.RESEARcH. LL.C. RATING: 8 WALT DISNEY CO HOLDING CO 015 CASH 250.000 23.0900 5.772.500 52,500 0.9095 BX RAM* STOCK P/SECTOR MI BOYARS *OMAHA vEwPONT RATIVG: B otl 07/31414a41 001 YNa EFTA01260654 CLEARED TIAROVON rra Loewe CeerED SVISOAARY 01710E SERVICING YOUR ACCOUNT Bear. Steams & Co. kw. BEAR 383 Madison Ayenue New Tack. New Tack 10179 STEARNS (212) 272-2000 Ia. Wan STMOret Cap. On IlentOi Cola *eh Sedan Pew Toe 11201.3µ11 1212)2721CW FINANCIAL TRUST COMPANY INC STerliithr eCe100 A.41. 2004 natOuOm My 30.2004 wee. NT LANCER ci Your Portfolio Holdings (continued) TAXPAYER MASER On Re LAST STATIIIIIIKT Air* 30.2004 Equities & Options (condoled) OCT IMPACCT Towne °Amon CCSOrienC44 SmMutanal WPC airt 000 MCI Vila MEM WOK ro WALT DISNEY CO HOLDING CO DIS MRGN 1.007. 23.0900 23.090.000 210.000 0.9095 BSC RAMC: STOCK P/SECT041 MO BOYARS ALTERNATIVE VEWPOINT WING: 8 FLEXITIONICS INTERNATIONAL FLOC CASH 100070 12.5700 1.257.000 LTD BSC RATING: STOCK 0/SECTOR MO -n ARANTIS RESEARCH RATING: B IFILTIST FIN ITAU CASH 100.000 3.3040 330.400 8.891 2.6910 EUR1 INVST M8NA CORP KRB MRGN 1.000.000 24.8900 24.690.000 480.000 1.9441 in EISC RATING: STOCK OISECTOR TAW BOYARS ALTERNATIVE VIEV/POINT RATING: B TYCO INTERNATKRTAL LTD TYC MRGN 100.000 31.0000 3.100.000 5.000 0.1613 VECTOR GROUP LTD VGR MRGN 412.658 15.7900 6.515.870 660.253 10.1330 Total Equities& Options 573.258770 S1.776.644 r TOTAL EQUITIES $73.256.770 51.778.844 CUR PCRTFOLIOHO_OINGSESTMIA7ED ANNUAL INCOME $1,776,644 YOUR PRICEOPORTFOLIOHOLDINGS Sa4,186.707 m I8 IpJ IJ SZLTS£00- 019- ANGS 027 CO/3104Ceel 001 YW EFTA01260655 <LUND nolOuGy. Its W1OU.V OWNED SLOSCrIAY 0 m C in r 9ZLTS£00- 019- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams I Co. Inc. 383 MadIscn Avenue New Yak. New York 10179 (212) 272-2000 6a. Transaction Detail DEPOSITS AND WITHDRAWALS OATE 07/0904 END WIRED MCIAOCT777315FNOSWIRED TO WW2( NA AC8101502624 RCM 07/06/04 HID WIRED MDAOCT777316FNDSWIRED TO CITIBANK NA AC8101502653 BCCW TOTAL 1-25.000.000.00 TRAMALIMN CCSOOPOON OOP MOUNT COMO MOM 12.500.000.00 12.500800.00 DIVIDENDS MT! DESCRIPT01 07/01/04 ITIOST FIN RAU IFPSF Wall/16ST CS REC 06/30104 PAY 07/01/04 FOREIGN TAX WIDOWS 0701/04 MONA CORP KR8 RFC 06/1401 PAY 07/0101 TOTAL INTEREST DATE OLScArnow 07/2104 INT 08 038-66056 41.475 24 08/21 • 07/20 801.93262% 841. 29028598 AVG26152634 TOTAL S-41,475.24 SMBOLCUS1P Bmt. — Moses Os. One Meyamh Caten hot tirool6o. key rat 112014469 ani 272.1060 FINANCIAL TRUST COMPANY INC STA111.0.1 PO MO My 1. 2004 0010UON My 30.2031 ACODUNT MASA YAMPAYER KAMER On Fie LAST STATIMINT AA* 30. 2001 COMM( MIT (S) OM MOM ulcer MOST 100.000 WH 1000.030 0.0620 0.1200 2.03191 783100 120.030.00 S-2 033 91 5127.533.00 COMM WE ma air maw' CM DIT Oil 07/11/003141 CO1 0156 EFTA01260656 rn IJ irk) BBNR STEARNS °MICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New Yolk. New York 10179 (212) 272.2000 7 d 0.0"0 Dind+a en wi.OLLY OIRAD SOnOwar W. Shan inbes CoO Ont ~NM Cs New flacqn Pin eh 20 IUD 1212)272.1000 FINANCIAL TRUST COMPANY INC stammer PiPa00 NO 1.2004 ~eau July 30.2004 Transaction Detail MISCELLANEOUS NTT I/AWAY lito.00TON (continued) CUOMO/ CEN1 MOST AGO> ma we Tffironsc MAIM On FN tAST STATELENT June 30.2004 metal MOAT 07/01/04 07/01/04 JOURNAL JOURNAL FROM 040-51258 FROM 03740075 178.069 03 348.313.00 0 07/01/04 07/02/04 JOURNAL JOURNAL FROIt 033/102-22332-2-USD • Jai. • JOURNAL FROM Mt 1 TO 2 2.190.837.12 23.000.000.00 Tz 07/02/04 JOURNAL .10UR/4,41. FROM TYPE I TO 2 2.190.637.12 F I 07,14/04 JOURNAL FROM )08/102-22332.2.USD 1.092.406.69 PER LOA TOTAL S-2.190.837.12 $26.809.625.81 in z r LUISE00- 019- ANGS End of Statement 027 07/3011.00 41 001 YeM EFTA01260657 0 m C in r SZLTS£00- 019- ANGS IS b.) V.2 IJ C t BEAR STEARNS CIRCE SERVICIC YOUR ACCOUNT Been Steams a Co. Inc. 3B3 Madden Avenue New York. New York 70179 1212) 272-2000 ACCCARIT EXECUINE ZICHERMANAA TtlEPHONE VISIT CAR wERSRE wentboarsteams.corn What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 5 Your Messages 7 Ilml..MI I I FINANCIAL TRUST COMPANY INC CFO AMERICAN YACHT HARBOR • 6100 RED HOOK SUITE 8-3 QUARTERS #2 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio TOTAL VALUE OF SECURITIES THIS P0#30 77.886.364 Caged Egukalent 5-29172876 S-31.716.148 NET DEBIT BALANCE -28.772.876 Egar 577.888.384 576.308.062 NET EQUITY T) PERIOD $49.113.488 NET EOURY LAST STATEMENT 44.591.914 N O Current market wAx, En Last sutemenrs market whit =I SW( mars& vSe CHANGE MET LOST STATEMENT 4.521.$74 There are no 'Stop Loss' orders cc other pending buy or sell open orders on Ale for your account. Pew -KW a.Y drere• v rermcoet ce °Wks 4, axis 'Oral a. (ewer., m e... is Geri Swan sulte-S34-14rt o. moo I' Cart Swan-Yew wry Securest Cn• Menned, Caner Sten. er adds. 10 489 0&ZA rsecuriu rrs ?MOLLY Owego SUOSIDVAY 1w. Steen stein!{ CUP. As MOSOU:01 Cew Nom free*. NW, nut 11201.3019 1203 272.1CCO FINANCIAL TRUST COMPANY INC STAYSWPC sV000 May 29.2001 not0a9H June 30. 2004 ACCO.S0 /Mete TAJONveta finalist On Fee .AS STATD4NT May 29.2004 gic Tss sunnOry s he efeessiout SIMON. olS is sa rIentel as I tim 0003MOZ 11•4 unmet ;MIN et TLNN ti yxr neva See twine tAle 1N esetan Afteranen 017 07.01041331 001 Important Message Confirmation! Unless we hear from you to the contrary. it is ow understanding that arty free wed* balances In yet/ account are being maintained to facilitate pi intention to invest such amounts through us. VS12 EFTA01260658 =ORO 11000304 ITS WHOLLY Owe SUSS10011Y Seve. Saws SecuteS c Ono MobtOKS OrSsi 11201 thebvt Nat Yank 112014,50 01212724CW FINANCIAL TRUST COMPANY INC 2 v • rn 8 IpJ IJ IJ z ii C in z -H r 6ZLTS£00- 019- ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 07401.04;13'.31 031 VB32 EFTA01260659 rn 8 b.) Is) IJ IJ t 0 m m r OELTSEOCIA19- ANGS BEAR STEARNS OFFICE SERVO% YOUR ACCOUNT Bear. Steams 8, Co Inc. 383 Ma(Mon Avenue New Yak. New York 10179 1212) 272-2000 3 Cl. Cash Flow Analysis THISPOOCO Opening Balance 5.31.716.147.95 Swathes Sala DiedendsAnteeest 2.746.122.34 245,063.20 Amount Crocked 52,991,185.54 Ceridendsanterest Merged 47,913.52 Amara Debited 5.47.913.52 Net Cash Activity 2,943,272.02 ClosIn98Manca 5-28.772.875.93 Sow en onion al soh wawa fatal. % C anI Intaded MOO soaps sue PsnOws. 90 as deli kr Saha seasscibis Ob MIK — In Tomato Nat Cash Balance Summary COMM Income Summary INS 299930 TEAR TO OUT oMdends 245.063.20 627.404.40 Substitute Payment 0.00 85,222.00 Credit Balance Ira. 0.00 398.34 Total 5245.063.20 5713,024.74 Margin Lit. Pad -47.913.52 ,224,058.26 Portfolio Composition UMW-85h Equivalent Eqtities SHI).1 WAG 28.772.876 77.886.364 Total 528 772 876 577.886,364 CLAMED nevus.. IS Venous °AWED StaSOWIY Seas Storrs Stara. Cap. Cr. menuan Caw/ Math F9909” .19. Yet 11201.3959 (212)2124200 FINANCIAL TRUST COMPANY INC STATemetit Pram May 29, 2004 hiSKAIGM MS 30.7604 ACCOUNT AMMER 723PAYER WIMP On tie LAST STAITESO /An 28.2004 Cash 0.00 1.658.956.03 ShOO Cash A Ecuvaient Ma* .31,716,147.95 -30.431.831.96 26% Net Cash Balance 3-31.716.147.95 5-28.772.875.93 Your Portfolio Allocation Egutiel 74% u•.wm CIIMN met War. Wok,' Non .weal vit... its that.. Prtertaa• *MO: fro, *. Mneaair •unx villre a Ws' WV. 02) 023104.13 31 COI VSO EFTA01260660 MORD TaR012311 ITS WHOLLY OP141) SueSCRAY 0 -n C in r TELTS£00- 019- ANGS IJ IJ t IJ La BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Mortised', Ammo Now York. Now York 10179 (212)272.2000 4 ✓a Bap Cam Secusatt Cap. On Maraca, corm Nati &SO yv% Pate 'Art 11201.3159 (212) 272.1020 FINANCIAL TRUST COMPANY INC STATEMENT PECOO Nay 29. 2004 Your Portfolio Holdings 1141tOmpi AD,OLNT RUPORR Ars 30. 2004 CASH & CASH EQUIVALENTS TROArDi RU445ell On rile IKE ranger! May 28.2004 MU ESTIVAMD O CURRENT DESEMPTOP SAMOLCuSIP MAMMY 91C( YALU( MS ARMS NC./ MD 012 CASH BALANCE -28.772.876 TOTAL CASH & CASH EQUIVALENTS 5.28.772.876 EQUITIES Equities & Options ACCT tatai 13411EATED CACROn DESORPTIEN SYROCUMAP ;PPE EMMIREV PRCE WILE AMMAtl SCOW YEW 014 BANK OF AMERICA CORP BAC MRGN 100,000 84.6200 8.462.000 380.000 4.2543 WALT DISNEY CO HOLDING CO CIS CASH 250000 25.4900 6.372.500 52.500 0.8239 WALT DISNEY CO HOLDING CO EMS MRGN 1.000,000 25.4900 25.490.000 210,000 0.8239 FLEXTRONCS INTERNATIONAL FLEX CASK 100.000 15.9500 1.595,000 LTD IFIL(IST FIN ITAL) (urn ANST CL IFPSF CASH 100,000 3.6350 363,500 9.146 2.5161 MBNA CORP KRB MRGN 1.000.000 25.7900 25.790.000 480.000 1.8612 TYCO INTERNATIONAL LTD lit MRGN 100,000 33.1400 3.314.000 5.000 0.1509 VECTOR GROUP LTD VGA MRGN 412.658 15.7500 6.499.364 660.253 10.1587 Total Equities& Options 577.886,364 51.776.899 TOTAL EQUITIES 577.886.364 51.776.899 021 0701,04.13 31 COI 1932 EFTA01260661 0 m C in r ZELTS£00- 019- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Beat. Steams & Co. Inc. 383 Madison Avenue New York New 100C 10179 (212)272.2000 5 ne Your Portfolio Holdings (continued) YOUR PORTFOLIONOLDINGSESTIMATED ANNUAL INCOME $1.776.899 YOUR PRICEDPORTFOLIOHOLOINGS 149.113.488 Transaction Detail INVESTMENT ACTNITY GLUM 110,0004 Innis Ov SU•SIOAAV On Sarni Inns On Os Mann C**t nit Orcattn. OY.n Volt 112014030 21212720D:0 FINANCIAL TRUST COMPANY INC swerettem PEMCO May 29. 2004 TwinUOM Ane 30.2001 ACCOLN3 Hunan TA20AnIt NASSER On Ile LAST STATTAOST May 28.2004 snow DATE TRADE OATt TRAMSACTION C4130111111011 SOMOL/CUSe OUNOITT TQE MIT MOOS Cart AlnINT 08/15/04 RECENED TOO INC TOO 34.400 0901 06/17034 06/14/04 SOW GALYANS TRACING INC GLYN -50.000 10.79590 $36.777.36 SOUCITED ALel VG PRICE: DETAILS ON REQUEST 06/17/04 06/14/04 SOLD TOO INC LINSC4JCEIED TOO -34.400 16.06020 550.386.95 06/29/04 06/24+04 SOLO GALYANS TRADING INC GLYN .100,000 16.65000 1.658.956.03 WE ARE ACTING AS PROCPAL MARKET MAICER COPAMISSOF FIELD IS A DETAILSON REQUEST LSSION EQUIVALENT ILS $2.746.122.34 02/ 070101:1331 001 232 EFTA01260662 C1DRED TTIROUIPT NICELY OWN= nlISONJtv BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. &terns & CO.X. 383 Madisco ATOMS! New York, New York 10179 (212) 272-2000 6 e Transaction Detail (continued) DIVIDENDS Bar. Sam Mama Cap. One Wraith On NCR, WICIONI NOT VolC 11201.3859 R12) 372-1COD F1NANCIAL TRUST COMPANY INC STATELIER, PERIM May 29. 2004 ENAMOR Ant 30.2004 Aro& ea suietil TAT/PAYIII M)CCR CM FN LAST INATENO/1 Mey 28. 2COI 0 -n DATE DIISCRIPTION rnaKtia6P COWRY POE IS) DONT AMOUR UM ANOINT 06/25/04 BANK OF AMERCA CORP REC 06.04/04 PAY 06/25/04 0640/04 VECTOR GROUP LTD REC 06122/04 PAY 06/3004 BAC VGR 100.000 412,658 0.8000 0.4000 80,000.00 165.063.20 TOTAL 5245.063.20 INTEREST DATE DESCRIPTION SY4lM.0VSP CRIUMIY am (V ouw AVOW CREDIT MOAT C in 06.21/04 INT DB 038-66056 05/21 - 06/20 641.76215% BAL 30626981 AVG31575868 47.913.52 TOTAL 5.47.913.52 MISCELLANEOUS DATE 110011 r NOTSACION DESCRIPTION OM mina CREPT MOUNT 06/17/04 06'1 .04 JOURNAL JOURNAL JOURNAL FROM TYPE 1 T0 2 JOURNAL FROM TYPE 1 10 2 1,087,166.31 1.087.166.31 5.1.087.166.31 51.087.166.31 EELTS£00- 019- ANGS 027 07/01.04:1391 ow VOS2 EFTA01260663 caA 114101.014 r$ l'oPOOLS boVIIED 811888)MY m IS IpJ rJ IJ m C in r PELTSEOCIA19- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Swarm & Co. Inc. 383 Madison Avenue NOM York, NeW Yea 10179 (212) 272-200G 7 o•t Your messages Notice Regarding a Change in The Statement of Interest Charges Pursuant to the - Truth•in•tending' Rule 10 (b)-16 Regarding Short Sales And Marking-To-The-Market Effecthe no earlier than [Sly (30) days from your receipt of this statement we will compute interest regarding your short sales and marking-to-the market as follows: The credit that appears on your statement due to short sales (including short sales agaknt the box) is offset by a debit of like amount because Bear Steams 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. alb ker. SW.. SCCuttS CUP. Om samara Crier PIP1). Ibtalfr. Plited Vcrt 11201.3859 1212)212.1000 FINANCIAL TRUST COMPANY INC SrATIWNT PfS)00 May 29.2004 DelltaX04 June 30.2004 ACCCCAT WARR TAXPAYER POWER On file LAST ST ATEIJEta May 2S. 2803 Any short positions in your account will be kept *marked-to-the marker. 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 Deism five dollars per share may to valued at rive 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 appreciate or depreciation of %softies sold short vein be determined by Bear Steams Securities based upon daily closing prices or quotations provided by pricing serviCeS, as applicable. or upon such factors as Bear Steams 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 0101.04.1 3 31 0)1 11132 EFTA01260664 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Beer. Stearns 8, Co. Inc. 183 Madsen Avenue New York. New York 10179 1212) 272-2000 8 cc u 0 -n C in r SELTSECICIA19- ANGS Pursuant to the terms of the equity research settlement that was entered into by Bear Steams and other major investment banks, we will soon make available to our customers, independent third-party research (Independent Researchi. 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 vmw.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. Further, Beat Stearns will notify certain of our customers, at the time of each soicited order to buy a sell the common stock of a Covered Company, of the availability of Independent Research. and will provide. on the oonfrmations and statements that are generated for these customers. the rating(s) on such 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 Steams is not responsible or liable for (i) decisions relating to the procurement of Independent Research. (ii) Independent Research or its content. riff customer transactions, to the extent based on Independent Research, a (iv) claims arising from or in connection with access provided by the Firm and/ct the inclusion of Independent Research raags in trade confirmations. periodic account statements a vrenv.tearsteams.com. Bear Steams is not required to supervise the production of Independent Research and has no responsibility to comment on the content of such Research, End of Statement 0-EARED ThiltOJGH rtS wart oriel® SubfoCults, Ow Steams Snob,. Co.p. 0*.e litottsch Cora Pawn ewer. Nes Von 113:01.1469 CM) 272.1003 FINANON. TRUST COMPANY INC owner' Pi MOO May 29. 2004 '14401.4H June 30.2004 CCOUNI 71.0401 T.VOUVER notefli On fle LAST sumer? Mey 28.2004 raw Please be advised of the following changes regarding account service fees: Beginning September 1, 2004, accounts will be subject to a 520.00 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 575.00 appicable for households that maintain less than 5100.000 in net equity in related accounts a that generated less than 5500 in brokerage commissions and/or fees paid to Bear Stearns in those accounts in the prior calendar year. 027 070104.13 31 001 VS32 EFTA01260665 m C m r 9ELTS£00- 019- ANGS I8 IJ IpJ In) 00 BEAR STEARNS OUCE SERVICRG YOUR ACCOUNT Beer. Steams & Co. Inc. SEM madoon Avenue New Yotk, New York 10179 (212) 272-2000 M:COUPit DIECIMYt 111.EPHONF VISIT EMIR WI 85.11 11(1111PIVANJRA WAY/ bearsteams.com What's In This Statement IIIIIIII,JIJIII Financial Summary 3 FINANCIAL TRUST COMPANY INC Your Portfolio Holdings 4 C/0 AMERICAN YACHT HARBOR • Transaction Detail 6100 RED HOOK SUITE B-3 QUARTERS 402 ST THOMAS Y1 00802 Your Portfolio at a Glance Market Value of Your Portfolio TOTAL VALUE OF SECUMMES THIS PERCO 76.308,062 NET DENT BAUNCE $.91.716.148 Cash EQL.h.lint S.31.670.992 -31.718148 rqutts 576.308.062 S14.175.563 NET eoutrr Teal PE/t100 $44,591.914 NET EOunY LAST STATEMENT 42.504,571 OWL& MCC LAST STAIDAENT 2.087.343 There are no 'Stop Lou' MOMS Ca other pending buy M sell open orders on file for your account. Pen. iegon ory Menne* ea el <Mai et stem Mead se atinred b awn SmAcealtICC434-14211s a rate b art Seetos el Yr Score Lanes Coo. Ora wwwww Cal SAN 9bayn. NY. 112014t .t. III Current mete value In Last statemmr meat Labe CI Shen, MOAK Mile CLEARIO 720024.C.4 MICLLY OATIO WeSSMRY Sr.San Seculms Cap. One Atiotten, Carter MOM ertwayn New Vat 11211.3449 (212)2724WD FINANCUR TRUST COMPANY INC sumer, nano Way T. 2004 Tan0u0.4 May 28.2004 a µMISR TAXPAY101 7010e3 On rk LAST STAISSIVET Apra 30.2004 sitc nes cannery N Rt racertmeol imam W. IS ma sena n a wawa-am reit star/Olt stead 04 rained he yea recs. See mem sae or Woolen 010tenalion 027 0502004.12 32 CO, EFTA01260666 =ARCO 2WOG14 IT8 mot. Cons .1) SUBSOWYY Beet Selma SearUS Cap. One 18eUcite. Cerny Vali linetlyn aw van 112014859 Q121222-f000 FINANCIAL TRUST COMPANY INC 2 O z m cim z H r LELTS£00- 019- ANGS IS IJ INJ IJ STATEMENT BACKER IS PRINTED ON THIS PAGE 0:: 3N.:504 12 3) DOI 9831 EFTA01260667 BEAR STEARNS OFFICE SERVICM YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Mechem Avenue New York. New York 10179 (212) 272.2000 3 Cash Flow Analysis %RS PERIOD Income Summary RPICO WAR TO out OpeningBalance 5-31.670.992.28 Cwidends 1.250,00 382.341.20 Substitute Pmment 0.00 85.222.00 Dtvidendsenterest 1,250.00 Credit Balance Ire. 0.00 398.34 Amount Credited 51.250.00 Total 51,250.00 5467.961.64 Dividendillmerest Charged .46,405.67 Margin Int. Paid -46.405.67 -176,144.74 -n Amount Debited Net CRIS% Activity 5-46.405.67 .45.155.67 Portfolio Composition C rn [Iasino Balance 541,716,147.95 CastiCasti Egurratent Fouitres SHOW 31.716.148 tare 76,308.062 Cash Balance Summary Total $31,716.148 576 306.062 r SELTS£00- 019- ANGS mourn Margin .31.670.992.28 41.716.147.95 Net CashBellute 5-31.670.992.28 5-31.716,147.95 C27 06.2404 '2 32 00' CREARED TWORCA: wAOLAR OATZO ituns-tot Bet Sewn Satins Cup. on Menotti, Germ Math trito4/‘ RIR, An 11201.3858 (212) 212-1070 FINANCIAL TRUST COMPANY INC STAMM., PEA 100 /Aryl. 2C04 TtROJOH May it 2004 ACCOulta Matt TAXPAWA MAOTA On U. LAST BTATnietrr WI 30. 2004 Short Cash a Equirident 29% Your Portfolio Allocation 71% :PA-4144 DbUrs feng• cAtt Warm nib 'Owl mote The Meese, p•neetarp• e pets] ft" re Reads meet nia of nu' tett. VS31 EFTA01260668 C)0 -n C rn r 6ELTS£00- 019- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New Yoe, New York 10179 (212) 272-2000 4 a s GEARED THROUGH ne IMCLor Ow nO Su•Somi Ow Man. Smallos CM. Or. - Coos Plonk inoktpl Mow on 112014449 31$ 2221000 FINANCIAL TRUST COMPANY INC MATMFA.7 .ERGO NM 1.2004 IntOuLLry Miry 28. 2004 Your Portfolio Holdings CASH & CASH EQUIVALENTS ACCOUVT MAIER °MAYER moroM On FIN LAST STATEvErT AM 30. 2004 IMPS (SIIVAIID CURRENT DISCRIPTION SW%).11.4n ;.,MCITY MKt VALUE µMM DOME 'MD ni CASH BALANCE .31.716.148 TOTAL CASH & CASH EQUIVALENTS 5-31.716.146 EQUMES Equities & Options ACCT MARKET ES-TIMM OMNI DESCISPIIM SMOWCUSP Mt ovum Pract WISE ALMS MOM IIELOM BANK OF AMERICA CORP BAC 1ARGN 100,000 83.1300 8.313.000 320.000 3.8494 WALT DISNEY CO HOLDING CO CILS CASH 250.000 23.4700 5.887.500 52.500 0.8948 WALT DISNEY CO HOLDING CO 015 MRGN 1.000.030 23.4700 23.470,000 210.000 0.8948 FLEXTRONICS INTERNATIONAL RE( CASH 100,000 17.5600 1,756,000 LTD GALYANS TRADING INC GLYN CASH 150,000 10.0500 1,507,500 IFILOST FIN ITAL) IFPSF CASH 100,000 3.5380 353.800 9.161 2.5893 Turn MST CL MBNA CORP KRB MRGN 1,000,000 25.4000 25,400,000 480.000 1.8896 TYCO WITERNATKINAL LID TYC LIRGN 100,000 30.7900 3.079.000 5.000 0.1624 VECTOR GROUP LTD VGR MRGN 412.658 15.9000 6.561.262 660.253 10.0629 Total Equities& Optkins 576.308.062 51,736,914 TOTAL EQUITIES 576,308.062 51.736.914 327 cenio4n 32 COI n31 EFTA01260669 CLUJ= DOLOUR.. 7$ Wreux CROSS RJasoirsr. O ii C rn r OPLTSEOCIN9- ANGS BEAR STERNS OFFICE SERVICING YOUR ACCOuNT Beet. Stearns 8 Co. Inc. 383 Mad 1991 Avenue New Yolk New Yak 10179 (212) 272-2000 5 4 $ Your Portfolio Holdings (continued) YOUR PORTFOLIO HOLDINGSESTIMATED ANNUAL INCOME 51.736.914 YOuRPRICEDPORTFOLIONOLDINGS 544.591.914 Transaction Detail DIVIDENDS r.. Si— labs Carp One 11000Lich Callet PRO tteatcp MlP Vtek 117014559 12121 272-1000 FINANCIAL TRUST COMPANY INC STATEN'S PERIOD May 1. 2004 *moose may 28.2004 ACCOUNT MAWR TAXPAYER 1474411 En fir LAST STATOR' 1/4 1i 30. 2004 RATE mane/ SY15110LCLS5 WARM RATE 91 DEW AIAXPC CRECII wen 05/03/04 TYCO PITERNATIONAL LTD REC 04/01/04 PAY 05403/04 TYC 100.000 0.0125 usaoo TOTAL 11250.00 INTEREST out oLSCRIPTC41 ..smo0-CUSIP n.A\nn 1115 0[90 AVOW CROIX IMOUV 0921/04 NT D8038-66058 04421 - 05t20 •01.75833% BAL 31669742 AVG31670242 46,405.67 TOTAL 5.46.405.67 059564 1537 0O1 NrilSt EFTA01260670 CLEARED INROUGn RS YP1COX OMCD SUILSOLARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Gear. Steams & Co. Pc. 383 Madison Avenue New York. New York 10179 (212) 272-2000 Ber,Rsent Storms Cap. Cos TATetterli Cellty WET EITIONER WM vat 11201.3859 (21212224000 FINANCIAL TRUST COMPANY INC ACCOUNT EXECLMYE ZICHEIMMALIRA STATIMIRTIT PCNCO AVE 1, 2004 TELEPHONE • VISIT OUR MERSIN walearsteams.com Oft01/411 RPM 30. 2004 ACCOUNT TaJoSER What's In This Statement TAXPAYER Maid On Fle Leff SteTEKar Irtych 31. 2004 TOiNaGUNO0 TVCESEOCM-ANCIS 8 IJ IpJ Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 5 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD 74.175.563 NET DEEM &MANCE -31.670.992 NET EQUITY TIE PERIOD $42,504,571 NET EQUITY LAST STATEMENT 48,023.112 CHANGE SINCE UST STATEMENT -5.518,541 There are no 'Stop Loss orders or other pending buy or sell open orders on file for your account. FINANCIAL TRUST COMPANY INC C/0 AMERICAN YACHT HARBOR • 6100 RED HOOK SUITE 8-3 QUARTERS #2 ST THOMAS VI 00802 Market Value of Your Portfolio S-31.670,092 Casli Eq In Eames 579.766.029 S-31 742 917 Peru nox ant Towne cc Atunottx ENE.* Tr Wets r4cTesc ea es NNE To ENT TT Cant Woos 112,104.14124. a Tots TT OEM SANTAT 411 PAN SI*8•1.6 SKYWAYS. CO., Pa VAntiftet Cr,., hoot erasur. 1,.'0+.358 574.175.563 i n Current intekti yam no Last statomerRs mal.ct valve CI Shan market viola ns wary a AY ITSTATAICAS Etropset Cl. tat onto as a tat neurwr4 Toe newt sno.10 at MANI IX yap metes See non sae er sTITOrtart TOUTNCre. 027 0901,114:13:17 001 V830 EFTA01260671 AWED OYJ1I1 Wmare OWNED Suntan Bea. Stars Sean.% Cop, One Mipascl. Cans ilorth limo" Mao Yen 112013n9 1212) 222.1003 RNANCIAL TRUST COMPANY INC 2 a6 O 0 z m C in z -H r ZPLT SEOCIN9-ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 05.01/04;13:17 001 Y830 EFTA01260672 o 440%0 DINOLLOI OS wall OWNED 9.4140014( BEAR STEARNS orricE SERviCo4 YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison AVOW) New Ycek. New York 10179 (212) 272.2030 3 to Cash Flow Analysis nes INRI0O Income Summary nes .tern %AR TO PM Opening Ba lance 541,742,917.44 Dividends 120.000.00 361.091.20 Sul:salute Payment 0.00 85.222.00 Dividerds/Interest 120,000.00 Credk Balance Int. 0.00 398.34 Amount Credited $120,000.00 Total 5120.000.00 3466.711.54 DMdendsanterest Charged .48.074.84 Margin ktt. Pak -48.074.84 -129.739.07 -n Amount Debited Net Cash Activity $.48.074.84 71,925.16 Portfolio Composition C Closing Balance $41.670.992.28 LOC SNORT in z Cash Balance Summary CasIVCash Equivalert Equities Total 31.670.992 531.670.992 74.175.563 574.175,563 r EPLTS£00- 019- ANGS 8 IpJ IJ OPENING CLOSING Margin -31.742.917.44 .31.670.992.28 Not Cash Balance 5.31.742.917.44 5-31.670092.28 Bar. Sten Sougan Cap. On Mereleth tour No% btOONL New GO 11201-3659 12121272-1CW FINANCIAL. TRUST COMPANY INC SNATIDIENT PESIOO Apt 1. 2004 TLOOVOI APIS 30.2004 ACCOUNT NJIANIR %wort,. model On 414 LAST $14TEMENI lAfith 31. 2004 ShCil Cash & Equvalen: 29% 027 05101)04:13:17 001 Your Portfolio Allocation q4441 71% U— mean door ado !Aro erdot ow: row Pao 04 Ocala, poon••• • *net coo to awe.., ono nine)°, Vertielf V830 EFTA01260673 0 -n C in r trI7LTS£00- O19- ANGS IJ IpJ BEAR STEARNS OFFICE SERVCING YOUR ACCOLIVI Bear. Steams & Co. Inc. 383 Madison Avenue New Yo& New York 10179 (212) 272.2000 a et a MIMEO TMOtram valOu. Om= SuallWAV Bet Sian Ladles Carp Ore Itafroleal Owls Horn tad*. Ma Vat 112014969 1212) 772.1000 FINANCIAL TRUST COMPANY INC STATME)If Poem Apl 1, 2004 Your Portfolio Holdings THROU0/4 NYCO. WISER AA 30.2004 CASH & CASH EQUIVALENTS ThstrAvia Nuaillta On Fla LAST rATnec Mitch 31.2004 DESCRIPTON SIWOLCUSla own" matt Waal ESTIMULD CIAMD1T Mat AMU* WW1 IUD 2)l CASH BALANCE -31.670,992 TOTAL CASH & CASH EQUIVALENTS 5.31,670.992 EQUMES Equities & Options DC1011.1101/ SYMICILCUSIP ACC1 Mt 011011TflY SAINT atWTID PACE MA NOWA Waal CURREN) SO Oil 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 ROWING CO 015 MRGN 1.0:00:0 23.0300 23.030,000 210,000 0.9119 FLEXTRONICS INTERNATIONAL OD RD( CASH 100,000 16.1000 1.610.000 GALYANS TRADING INC GLYN CASH 150.000 9.4900 1.423,500 IFIL8ST FIN ITAL) EUR1 NM CL IFPSF CASH 100,000 3.6520 355.200 8.869 2.4989 MINA CORP KR8 MRGN 1,000,000 24.3800 24.380,000 480400 1.9688 TYCO INTERNATKINAL LTD IYC MRGN 100,000 27.4500 2.745,000 5.000 0.1821 VECTOR GROUP LTD YGR MRGN 412.658 18.5400 6.825.363 660.253 9.6735 Total Equities& Options $74,175,563 $1,736,622 TOTAL EQUITIES 574,175,563 51.736.622 027 05/01/04:13:17 001 Y830 EFTA01260674 CLEWS 71•0047:14 rts WoLCtiN OMiD SLASIOvar 0 z ii C in z r SPLTS£00-019-ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUla Seer. Stearns & Co. Inc. 383 Madison Avenue Now Yoh, New Yak 10179 (212) 272.2000 S ors Your Portfolio Holdings (continued) YOUR PORTFOLIO HOLD I NGSESTIMATE D ANNUAL INCOME 51.736.622 YOUR PRICEDPORTFOLIOHOLDINGS $42.504.571 Transaction Detail INVESTMENT ACTIVITY Ms. Sturm Seortin Cap. Ow MtUaLL01 GM Nolli SLOAN. Nee Tot 112014359 (2121 272.100) FINANCIAL TRUST COMPANY INC STATIENEW7 PEPTOO Amil 1.2034 714/aMm AO 30.2004 ACCONNT MANNA TATSAYSit WIRIER 00 MN LAST STAMNINT 'eth 31. 2034 SETROMIN TWA 011E DATE TRINSAC713/I OPSONINCAL STIMOUOJSIP weeny PRIM Mr AMCOR OIMIT AMCOR 04/20.04 13URNAL WALT DISNEY CO HOLDING CO OIS 157,000 ML FM 353-01502 PER WA 04/21)04 DEUVERED SEAMGEN HOLDING CP RSID 9380646 -333.334 TOTAL DIVIDENDS OPM CASCRPTKII1 04101/04 WAWA CORP REC 03/1$/04 PAY oyou04 TOTAL 5120 000 00 $TIMCMCUSIP GUMMY PATE NI KR8 1,000,000 0.1200 OW MOM CREW AMOUNT 120,000.00 027 0901/04:13:17 001 V830 EFTA01260675 0 z m cim z r 917LTSEOCIND- ANGS BUR ST&RNS OFFICE SERVICING YOUR ACCOUNT Sete. Steams 6 Co. Inc. 383 Madison Avenue New Yak. New York 10179 (212) 272.2000 Transaction Detail (continued) INTEREST OAT( OISCRPTION 04121/04 INT 08038-66056 03/21 . 04/20 001.76037% EIAL 31622917 AvG31719565 004130VOTSP CLIAM0) TI UCeIR *KOS OvadED SUBSOPAY Ow. Sun Startle ON. Ore Meotach Celst 1404. mew" New Tat I I201.3460 0131272.1000 FINANCIAL. TRUST COMPANY INC STAltielr nmoo Apt 1. 2004 IIINOUG41 Aga 30.2E04 ACCOUNT teal= TAXPAYER *MICR 00 Fk LAST nommen Minh 31. 2004 CUANSP, RATE Oil 04441440,0 CP[Pri Nueva 48.074.84 n*A 5.48.074.84 STOP 0501.04.13.17 v830 EFTA01260676 0 a l C in r LPLT SEOCIN9-ANGS BEAR STEARNS ONCE SERVICING YOUR ACCOUNT Beer. Steams & Co. Inc. 393 Mat son Avenue Now York. Now York 10179 1212) 272.2000 ACCOUNT Et TCUIril TT TEPHONT • viSIT OUR NERVE ZICHTRVANTRA w*w.bearsteams.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 5 Yotr Messages 7 Your Portfolio at a Glance TOTAL VALUE OF SECURTTIES THIS PERCO 79.766.029 NET DONT BALAACE 41,742,917 NET ECNATY THIS PEN00 548.023.112 NET MUFF( LAST STATEMENT 49.442.495 CHARGE SINCE LAST STATEMENT -1.419,384 There are no 'Stop Loss orders or other pending big or sell open orders on Me for your account. Can & &Orme* Rome van ay annexe a naxecrig a ctencs nada oaa1e4 a *flea° a au a Chen Samoa at ea434A421. aa• It Can aessa Sat aura Saunas Cora Oa leavaa Caw Non. boar n aka IIIr111rrrlrelRlI III 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 $41.742,917 141.N5.411 579.763,029 391.207.908 Onerd mwtet vivo ME Last staternercs market value l= Satan MAN Vane CLEAREO THROJOH ITS WOOLLY Ov*C SUSSOARY Sun Sawa Swan Can CALL Vsnach Cast hall Prow" NCI Tat 112014859 L2111 272.1000 FINANCIAL TRUST COMPANY INC ITATEARAT mPICO Fetruety 28.2004 LWOW.. Mach 31.2004 ACCOUNT LAMM TAXPAYER Nana On Ego LAST 'mincer Fetnagy 21.2004 Ay TEM SLMnantli KK incorstbral mum tay. Shan MANI Li eY On •et Sr eine be reared tbr rag nxo-Of mese we for ?VOW* iterrizn 027 OALDIP4.12 SS COI VS29 EFTA01260677 CLEARED TOR003o ITS VOIOU.Y COOED taJELSOORY kV Si..,. Snobs. Cap Op liolowch Coma 19515 898188. New Yon 11201,1859 12121 272.1000 FINANOAL TRUST COMPANY INC 2 (-) 0 z m cim z H r 817LTSEOCIND- ANGS IJ STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0.01.04:121$ 991 9I23 EFTA01260678 CUOMO 1101OUGn .13 %,asv Dian &MOWN rn 8 b.) IpJ BEAR STMRNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams 6 Co. Inc. 383 Madison Avenue Now York. New York 10179 (212) 272-2030 Sat Cash Flow Analysis DOS PERIOD Cash Balance Summary 00004 CLOSNG Opening Balance 5.31.865.410.90 Cash 261,556.06 0.00 Funds Deposited 2.809.355.19 Margin -32.126.966.96 .31.702.917.44 Cthidends/Interem 159.841.20 Net Cash Balance 5.31,865,410.90 S.31.742.917.44 Miscellaneous 85.222.00 Amount Credited 53.054.418.39 -n Funds Withdronn -2.887.500.00 Income Summary uss YEN 70 OW DMderds/Interest Charged -44,424.93 DMdends 159,841.20 261.091.20 C in Amount Debited Net Cash Activity 5-2.931.924.93 122.49146 Substitute Payment Credit Balance Mt. 85.222.00 85,222.00 0.00 398.34 Closinv Balance S-31.742.917.44 Total 5245.063.20 S.346 711 54 118010 ashy IrOodloo Sash Mae awl loom se rat inebilo1 Yea Margin Int. Paid -44,424.93 -81.664.23 r 617LISE00- 019- ANGS mem ewe iniviia. .w at ash Ir NW MPS ft roar. WWI MTraYla 000. Portfolio Composition Baca. Stearn WOW Corp. one mason:. Conn North temp Vivo in 2 31159 (212) 2724CCO FINANCIAL TRUST COMPANY INC STATDAINT PU000 rarutry 29.2004 neetuam March 31.2004 ACCOP.Olt MAW TAgeAvER MAMCO On Foe UST STATIAILNT February 27, 203a ACM "MG shat Cath & EqtrVabOnt CashICash Equivalent 31.742.917 28% Nokias 79366029 Total $31.742.917 579.766.029 027 0•0144.12S6 031 Your Portfolio Allocation EpuitieS 72% Joi&god >t-Ant OWL eta min raw •Y/. Von » vileas The elemeen evtwnte re :Wel grave mend ,S.. a yet Ceelthe 1129 EFTA01260679 0 ii C in r OSLTS£00-019-ANGS BEAR STEARNS OFFCE SERVICZ.GMUR ACCOUNT Bear. Stearns & Co. Inc. 383 Mattson Mena New York. New York 10179 (212) 272-2000 GLENN 11.00.414 rn www0.4 044.0 SUBSiDeRY Be. Sian Semites Cap. Cat Neaten Cower Nae encer. New MN 11201.3959 12121272.1020 FINANCIAL TRUST COMPANY INC 4 ce Your Portfolio Holdings CASH 14 CASH EQUIVALENTS mAltr47 EST741.170 OMEN 043011, 11311 514001./CUSIP Gummy eAAY YUEf WAX. 'CON IMO 110 CASH BAUVICE .31.742.917 TOTAL CASH & CASH EQUIVALENTS 1-31,742.917 EQUMES Equities & Options marrow SMON/CUSIP ACC, 01140101Y MCC WINN MANN WWI AMYL Mai BANK OF AMERICA CORP BAC MRGN 100,000 80.9800 8.098.003 320,000 WALT DISNEY CO HOLDING CO DIS CASH 93.000 24.9900 2.324.070 19,530 WALT DISNEYCO HOLDING CO DC MRGN 1.030.000 24.9900 24.990,000 210.000 FLEXIRONICS INTERNATIONAL FIE( CASH 100,000 17.2200 1.722,000 1,10 GALYANS TRADING INC GLYN CASH 150.000 10.0600 1.509.003 IFILBST FIN ITAU EURI MKT CL FPSF CASH 100,000 3.4610 346.100 9.352 MBNA CORP BBB MRGN 1.000.000 27.6300 27.630.000 480.000 TYCO INTERNATIONAL LTD TYC MRGN 100,000 28.6500 2.865.000 5,000 VECTOR GROUP LTD VGR MRGN 412,658 17.0000 7.015,186 660,253 SENTIGEN HOLDING CP MD 9380646 CASH 333,334 9.8003 3.266.673 Total Equities& Options 579.766.029 51.704.135 TOTAL EQUITIES 579.766 029 11.704.131 077 STA17244474r NNW Fetnely 28.2004 INtOuNt Myth 31, 2004 4Cca.N7 et.441811 AY? `EN NNW On Fat LAST STATflCMT February 27.2004 3.9516 0.8403 0.8403 2.7021 1.7372 0.1745 9.4118 0401 04 12 56 col YBn EFTA01260680 OTARED 7fflOuGN iTS ~Our Ow4E0 SISS Y 0 -n rn r ISLTS£00- lA19- ÅNGS BffiR STEARNS OFFICE SERVICING YOUR ACCOUNT Beat. Steams d Co. Inc. 383 Madison Avenue New Yak. New York 10179 (212)272.2000 Sur Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTI/AATED ANNUAL INCOME $1,704.135 YOUR PRICEDPORTFOLIOHOLDINGS 548023.112 Transaction Detail DEPOSITS AND WITHDRAWALS DATE nuad*CnC4. ectcapnea mart maw CROXI AuOurn 03/02/04 FUNDS REC 03/08/04 FND WIRED FNDS WIRED TO CITIBANK FROM GC408Wi SACHS .CO LCT40821310800 MOANIAB731597FNCISWIRED TO "MORGAN OUSE BANK A0040181513 70404928 2.887.500.00 2.809.355.19 TOTAL $-2.887.500.00 $2.809.355.19 DIVIDENDS DATE DESCRIPTION SYLIMUCUSP CILI4411TY Mn (si 03/28/04 BANK OF AMERICA CORP BAC 100.000 0.8000 REC 03405/04 PAY 03/28/04 DEBIT MOW Bev Sun Stoats Cy,. Ore ~Axe& CPR« /an trecop. Ner Uric 11201-24a cZ/21 212.1000 FINANCIAL TRUST COMPANY INC STATtidewr PEPOCO %briar/ 28.2004 ~Duo., Mirth 31. 2004 AnyWN7 st•MER TAxPAyER Knee: On nie LAST ETATSKM FottuarE 27.Ø CREW ALOUNT 80.000.00 040104:12M COI V8?9 EFTA01260681 IT1 tJ tpJ Ap O m r ZSLTS£00- IND- ANGS BMR STUkRNS OFFICE SERV1CING YOUR ACCOUNT Roar. Steams 6 Co. Inc. 383 Madison Avenue New Vak. New York 10179 (212) 272-2000 6 Transaction Detail (continued) DMDENDS (COn(illUed) OATC DISCRY1ON 03/29/04 VECTOR GROUP LTD VGR 199.603 0.4000 79.841.20 REC 0331904 PAT 032904 TOTAL 5159.841.20 SflISOUCUSIP CLEARCD TolOugi RE liatuv Ovnal, ARR~ Beu Seri Seans Con. Orie Milnehffi teren Not 8rtolOr. Ine Tan 11201.3559 R1212221000 RNANCIAL TRUST COMPANY INC STATELIEirt MMO Febnary 28.2034 THROJCin Warch 31.2004 ACC.OuNT ~Ot TAXPAVER µ21!Et O Fis LAST STATE...ENT Fetrun 27.2004 OU9n774 Rel OT Eelt AsIOLIWI CREW MOUW SUBSTITUTEPAYMENTS arz DC5CRIP71Cn 03/29/04 VECTOR GROUP LTO SUBST PAY ON 213065 5113 REC 03/19/04 PAY 03/29/04 TOTAL CALWITIT It&TI (fl CRf 511 AuCtlln 213.055 0.4000 85.222.00 585.222.00 INTEREST Carl CESCalPilan 03/22/04 INT OB039-66056 02/21 .03/20 4401.76096% 84! 31943555 AYC31316929 TOTAL Snati.,SLP awarry Mn exa Call ~nl Cent 40.111T 44,424.93 s 44.424.93 MISCELLANEOUS Wit DESCIWTON OM MOM CRUX! ~UNI 03/18/04 ØL JOURNAL FROM TYPE 1 TO 2 3.070.911.25 021 0110104:121S Cal VIM EFTA01260682 CU/AEC 71711/2311 as WHOLLY 02.2120 Sta100/427 0 -n C in r ESLTS£00- 019- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns de Co. Inc. 363 Matteson Avenue New Vork. New York 10179 (212) 272.2000 7 Transaction Detail (continued) MISCELLANEOUS (continued) &OW 03/18104 JOURNAL JOURNAL FROM TYPE 110 2 TOTAL TIMSACTICN OESCRP1P1i 31511 7.Va.p.1 GRECO MMIM 3.070.911.25 S-1070.911.25 53070.911.25 Your messages Excess SIPC Account Protection Update Effective February 16. 2004, the commercial insure through which Bear. Stearns Securities Corp. obtains excess SIPC protection changed to Customer Asset Protection Company ('CAPC01. a New York licensed insurance company. CAPCO has an A+ financial strength rating from Standard and Pairs. Ocer Swn Scone. On. Ole Llorcenn Cann 727.2 trOCOpn. Pk. Yak 112014659 f2121 2721000 FINANCIAL TRUST COMPANY INC rrAnueo PlOrco Fettuary 28. 2004 noweLore Yeah 31.2001 ACCOLert 7/0/1AVIS MUMMA Prat LAST VATC1117.17 Fatter/ 27.2031 gar Bear. Stearns Securities Corp. Net Capital and Net Capital Requirements: At November 30. 2003 and January 31, 2004. the Company's net capital of approximately $3.3 billion and 53.2 billion was approximately 7% and 7% of aggregate debit items and acceded the minimum regulatory net capital requirement or approximately $930.3 million and $967,8 million by approximately S2.4 billion and S2.2 billion, all respectively. A complete copy of the Bear. Stearns Securities Cap. Statement of Financial Condition is available on the web site oww.beatsteams.com. Alternatively, to request a free printed copy please call • toll free 1-866.299.9331. 027 002704 12 sS nit EFTA01260683 0 z m cim z H r VSLTS£00- 019- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Roar. Steams & Co. Inc. 383 Madison Avenue New Wyk. New York 10179 (212) 272-2000 8 or I LW' The Firm believes it is of the utmost Importance that clients who purchase or hold mutual funds fully understand the intricacies of the pricing structures and rules ',Mich govern these investments. Recently, a joint Industry/NASD Task Force collaborated to create a Disclosure Statement to address these issues. We are providing this Disclosure Statement to you for the purpose of reinforcing these concepts and to initiate the opportunity for further discussion of these Inv las to the extent you have questions. You are encouraged to contact your financial professional with any questions you have regarding your investments. Additionally. you may review this information online at the following NASD web site: http://tvommasdr.contibreakpoirrs_statement.asp Endof Statement 027 CIAJJ110 IRROU01 ITS %MOLLY OWNGO SLIGOARY Rev. Seam Seers Cud Cr* Yearxre Care NOIR iroothn Me Ye 1,2014.1150 12121273.1CCO FINANCIAL TRUST COMPANY INC Sweet eFeICO Fetea-y 28.2004 mete tee 31 2004 *Ante NUMBER TAXPAYER RIMER OR Fre Lei mere February 27.2004 044)1A:4:12 53 00 Vt29 TJ U.) a ar• EFTA01260684 BEAR STEARNS CAME SEAMCING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue Now York. New York 10179 (212) 272.2000 CIAMED DelOuCti ITS mew( CAI® 0.0.010.Re (tau San snow cop. Cr*Learerch Greet Brottim. Nes Ted 11201-ass (27 21 272iICCO FINANCIAL TRUST COMPANY INC ACCOUNT EXECUTIVE IICHERMANTRA TELEPHONE VISIT OUR wEBSLIE wmv.bearsteams.ccen What's In This Statement Financial Summary 3 HMI% It lb FINANCIAL TRUST COMPANY INC STAltiera Plirelan hewn 31.2004 itercaUtel February 27. 2004 ACCOrma mane TexPertit ribellart On Tel LAST STAITWErfr kiniray 30.2004 Your Ponta* Holdings 4 470 AMERICAN YACHT HARBOR • Transaction Detail 5 6100 RED HOOK SUITE B-3 Your Messages 6 QUARTERS 02 ST THOMAS VI 00802 0 m C in r SSLTSEOCIND- ANGS Your Portfolio at a Glance Market Value of Your Portfolio TOTAL TAW( a SECURMES THIS PERIOD 81.307.906 Cash & Eatialart I smAss.411 S-7.479.71Ni NET mart BALANCE -31.865.411 E0.0:03 181.307.906 557.170.074 PET ECAAW THIS PERIOD $49,442,495 MO CUMMI market Yak* NET EOLTHY LAST STATEMENT 49.700.178 IIII Last sucensanTs motet vase CI Snot Matte value CHANGE StiCE UST STATEMENT .257.682 There are no "Stop Loss orders a other pending buy a sell open ceders on file for yaw account. Pier. wpm red drawee iv resniaigl el Men et *Me naiad a *Meter me o Cum Swede w KO434.14a. et %vie b Chet Soma* re all Den &cut Cum. Cm• remora Cara mem. &ewe, moue. gim ars tummy ft mTroarukaal pewee GM I flu retread n a at earriet Pis steentert %Peed t. maned kir you MOM% Ste merge We Se letedlitt ieformaben 027 0742104.11 OP W, VON EFTA01260685 CLFJUK.0 TrOOLCH IR raCu. Orat0 SuaStoage Ss. Sitars Soceale Cap Orr NOUN Aar Neelh Rat" NtiV Tot 11201.ISSS 1214212.1000 FINANCIAL TRUST COMPANY INC rn IS b.) IpJ 00 0 z m cim z H r 9SLTS£00- O19- ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 001 0201104:1 OM MPS EFTA01260686 caaaw THROUGH as velOLLY Wee) teSSOWRY BEAR STEARNS OFOCE SFRviCiNG YOUR ACCOUNT Bear. Stearns 6 Co. Inc. 383 Madison Avenue New York. New Yak 10179 (212) 272-2030 iks. Stearn SUM. Cap. Ore Meteteen Cate. Neal Ilecat8r( e N. Y*o 11201.3859 (21212/V1CM FINANCIAL TRUST COMPANY INC 3 ✓a 81939.9ENT PIRIOO 19189.0. sans, 31,2004 Fe9.141ey 27.2004 Cash Flow Analysis DIS POMO Income Summary se PERIOD WAR TO Out 'COMM Mama Texererrie Kula On Me OpertingBalance 5.7.479.796.44 Onidends 1,250.00 101.250.00 LaST STAMM!, }wry 30.2000 Credit Balance kn. 0.00 398.34 CiMdendsrelterest 1,250.00 Miscellaneous 260.306.00 Total 51.25080 5101.648.34 Margie Paid -32,865.46 -37.239.30 0 z ii Amount Credited Securities Bcratt Ohidendsfrarest Charged Amount Debited 5261.556.00 -24.614.305.00 -32.865.46 5-24.647,170.46 Portfolio Composition SW toed C Net Cash Activity -24.385.614.46 Cash/Cash Wyatt 31.865,411 in z ClosingBalance 541.865.41990 -a Total 531.865.411 81.307,906 581,301 906 r LSLTS£00-019-ANGS IJ IpJ Cash Balance Summary CP114.43 CLOSING Cash 0.06 261,556.06 MetprR .7A79.796.50 -32.126866.96 Net Cash Balance 5-7.479.796.44 5-31.865.410.90 027 Short Cash & Equellent 28% 02.21104:11:51 001 Your Portfolio Allocation E200es 72% U(5.9.33.1 .MOs MW epee ben irate nr1 rna•se era Tie AAX.C.). Jortiers0 nderlyer: ton 1.1. 0/94./s roan a. a 70l Witt* 31128 EFTA01260687 T4iNaGUNO0 8SLTS£00-019-ANCIS I8 IJ IpJ Lg. O BEAR STEARNS MICE SERYIMG YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York. New York 10179 1212) 272.2000 4 a G Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCRIPTION CASH BALANCE TOTAL CASH & CASH EQUIVALENTS P1-11.0..ttsp Wag" C511%0.103 CURRVO 0.aNnre aRCE mi.( Ukraisi NOM nti.0 09 -31.865.411 5.31.865.411 EQUITIES Equities & Options 013CRINION SYSBOUCUSIP ACCT ME OU.UMIY PRICE WUXI VALUE LSIMARD ANIMAL MOVE CURRENT MOO 00 BANK OF AMERICA CORP BAC WRGN 100.000 81.9200 8.192.000 320.000 3.9063 WALT DISNEY CO HOLDING CO 06 CASH 93.000 26.5300 2.467.290 19330 0.7916 WALT DISNEY CO HOLDING CO DOS LIMN 1.000,000 26.5300 26.530.000 210.000 0.7916 FLEXTRONICS INTERNATIONAL FLEX CASH 100,000 18.1000 1,810.000 LID GALYANS TRADING INC GLYN CASH 150.000 8.5900 1.288,500 !FROST FIN ITAL) 744352291 CASH 100,000 3.3430 334.300 CURT It0ST Ct. MBNA CORP IWB MRGN 1,000.000 27.3300 27.330.000 480.000 1.7563 TYCO INTERNATIONAL LID ITC MRGN 100.000 28.5700 2.857,000 5.000 0.1750 VECTOR GROUP LTD VGR MRGN 612.658 18.0500 7,448.477 660,253 8.8643 SENTGEN HOLDING CP RSTD 9380646 CASH 9.1510 3,050,339 Total Equities& Options 581.307.906 51.694.783 TOTAL EQUITIES S81,307.906 51.894.783 CUARSO ROIC4/3.4 nit vemcuY 0M, SIA44DIARy law. Went Smelt. Cep. Ow Meitotan Caw IOM Broad" New Wet 11201.3959 (2121272.147 FINANCIAL TRUST COMPANY INC STAraiteNT Pr IMO latudey 31. 2004 THROUGH Febniany 27. 2004 ACC:061c NOM., T. TASAR Malta On Flo LAST STATDADIr January 30. 2004 027 02/24.04.11 57 cm vlsk EFTA01260688 0 m cim H r 6SLTS£00- O1D- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madson Avenue New York. New York 10179 (212) 272-2000 Your Portfolio Holdings (continued) YOUR PORTFOLIO HOLDINGS ESTIMATED ANNUAL INCOME 51.694.783 YOUR PRICEDPORIVOLIOHOLOINGS 549.442.495 Transaction Detail INVESTMENT ACTIVITY =MED TenC4.0. ITS .wait OMATO SUSSICWor Ow. Sown, sasses co Die Patectech Cola Noll troaktr. Its. Ten 11201.3$30 (2121 272.ICCO FINANCIAL TRUST COMPANY INC STATEMENT PERKO lartiory 31.2004 THIOLKIN reovary 21. 2004 ACCO.sn Wait unwell MAW On Fie LAST STATVerr lertun 30.2004 SURDAS! TRACE OAT! OAR ntAiRACION OISCITIMON SMIK4.0.19. OUAIRrtv MICE IXOrt AmOilon CREDO MiGht 02/03/04 01/29/04 BOUGHT WALT DISNEY CO HOLDING CO DIS 1.000.000 24.55430 24.614.305.00 WITH RIGHTS TO PURCNASE COMMON STK UNDER CERTAIN CRCUMSTANCE AVG PRICE SHOWN-DETAILS ON KO ACTUAL CORVIIM TO YOUR AGENT ONSOUCITED 02/18104 JOURNAL WALT DISNEY CO HOLDING CO 015 -157.000 TO 353-01502 TOTAL 5-24.614.305.00 DIVIDENDS Of! 01SCA4✓DM 02/02/04 TYCO INTERNATIONAL LTD REC 01/02/04 PAY 02/0204 TOTAL 51 250.03 STPOOLICUSI. OWNMY Wr MI '03073 0c175 Een wow 011:41 MOM 1,250.03 EFTA01260689 CLEARED T/OCCCH ITS voiCktv OWKD SUMMARY rn 8 b.) Ipp J Is) 0 F I z m z -H r 09LTSEOCIA19- ANGS BEAR STEARNS OFFICE SERWCAVG YOUR ACCOUNT Bear. Steams & Co. he 383 Madison Avenue New York. New York 10179 (212) 272-2000 6 N6 Transaction Detail (continued) INTEREST DAR DESCRIPTION 02123(04 liff DB 038-66056 mat • 02/20 601.75505% FIAL 31832545 AVG21746495 TOTAL STIEBOUVJS9 Sc.. Eon Section Cap. Die Skean. Dm* Nan yon Rea Tat 11201,3$5.9 1212) 2724[00 FINANCIAL TRUST COMPANY INC STAMPER/ PeIttO January 31.2004 1INIONOPI FOtnen 27.2004 AcCONNT went TAXPAYER *n On Fie LAST 'TAMAN, January 30. 2004 ODENIIIT PATE OS KM +smut CREDO Avant 32.865.46 5-32.865.46 MISCELLANEOUS MOON TRAIGICTION OESCESPEON 02/16/04 JOURNAL TOTAL DEM MOM CRODEI MORA NY282592/18 260.306.00 5260.306.00 Your messages Excess SIPC Account Protection Update Effective February 16. 2004. the commercial insurer through which Bear. Stearns Securities Corp. Obtains excess SIPC protection changed to Customer ASSOI Protection Company CCAPC0'). a New Yak kensed insurance company. CAPCO has an A. financial strength rating from Standard & Poets. End of Statement COT 02,2501.11.57 001 EFTA01260690 CUAREO TotkOISAI ITS eioOLLY Onset> SLISSCAAW 0 m m r T9LTSEOCIA19- ANGS 8 IJ BEAR STEARNS OFFICE SEMACING YOUR ACCOUNT Boar. Stearns & Co. Inc. 383 Madison ATOMS New York, New Yak 10179 (212) 272-2000 ACCOUNT acctmvi DOARMANARA TELEPHONE VISIT OUR WROTE woobearstraarroccen What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 5 Trades Not Yet Settled 8 Your Messages B Your Portfolio at a Glance TOTAL VALUE Or SECURITIES THIS PERCO 57.17%974 NET DEBT BALNCE -7,479,796 NET mono THia PERIOD $49,700,178 NET EQUITY IAST STATEMENT CHARGE SINCE IAST STATEMENT 40,080.099 9.620.079 There are no 'Stop Loss' orders or other pending buy or sell open Orders On file for your account. lltuliutluldl 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 j S-7 479.796 DSO Eiziourn 7672.183 EdLoes Pas real tory darer= or nonevent at deco or RV recant me detested b Atts. o Coon Somas a t0)404.1•21. P ono to Chef %nee. M Sew Own Steals Coo. Ore Wane. Cone eta. betryn. 20 40) 557.179.974 S39.407,916 M I Current market Sue Last statements mono value O Snot marker value Saw. Sara Steatite Cap. One Mcoueen Cerw Math &coo" eft Tort 11201.3159 (212) 2724070 FINANCIAL TRUST COMPANY INC !TATO/the PERIM Unary 1.7004 THACtrem lila) 30.2004 ACOOLNT AL DER TAXPAYER POWER CM ITS. LAST STATPAENT Deromter 31.2003 Sc Div sunny a Ice efennetenit gnosis a*. Slane{ SW* denentil Teo Uremia vale 54 frame Of ?of row* See mom ode Tr manes 00.001. 027 01/1.04.00.41 COI V124 EFTA01260691 a-Mit= 'MOWN ITS wwilLY °AND 8815/04.99 One. Smarms Stantlet Cop. Cl 81808:629) Web. Seal SeaSyn. We V% 11201.3859 (2121272.1000 FINANCW. TRUST COMPANY INC 2 -n C in z -H r Z9LTS£00- 019- ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE .177 C' ,3188 35 41 CO1 V824 EFTA01260692 0 ii m r E9LTS£00- 019- ANGS BEAR STEARNS OFFICE SERVICING YOIJR ACCOUNT Beat. Steams & Co. Inc. 383 Madison 4949198 New York, New York 10179 (212) 272-2000 3 o•4 Cash Flow Analysis 114S WOO Cash Balance Summary 3193313 0.09,4 OpeningBalance 5672.183.08 Cash 672.183.06 0.06 Funds Deposbei 8.000.558.00 Marcel 0.00 -7.479.796.60 OivklendsAnterest 102.254.30 Amount Credited 56,102,810.30 Securities Bought .14,248,580.00 CividendsAnterest Charged -6.229.80 Net Cashealance 5672,183.06 Income Summary 1195 931030 5.7,479.798.44 ltIA 10 DAR Amount Debited 5.14 254 789 80 Diridends 100,000.00 100,000.00 Net Cash Aahey -8.151.979.50 Credit Balance 398.34 398.34 Closing Balance 5.7 479 796 44 Total 5100 398.34 5100 398 34 Bain 09 tans., 48 an aware 33339e4 Ines » 5:41931.9160 n Sit nave: Itch frasle. a %al a Ma% Iona ens trudges 'a 9•134 mote 11 Tanattea 0•11a Weigh Im. Paid .4.373.84 4.373.84 Portfolio Composition C&WCIISh Equivalent Equities Cla1110 19R04614 ITS rto011y 09540 SIA5SIOVAV kat 5914193 StC99.95 Cap. One woman taros lam amen" Ilw V 11101.3359 a121172.1093 FINANCIAL TRLGT COMPANY PC STAtilletr PERKO 19151107 1.2004 THROWN Janiary 30.2004 ACCOUMI MINIM TAXIAY311 Main! On NO WT STATOR/IT Dante 31.2003 Your Portfolio Allocation rem toes 883, 1 Cain & WAS* 11% 7.479.796 57.179.974 Total 57.479.798 S57.179.974 027 0.11034yu CC1 Equates 898 Ureutio xncns arse bide Purer snit. ve. tow %I.44 119 attil44, ntottle neat.< toe to sends* ,a1 ne• att, pentio EFTA01260693 0 m C rn r P9LTSEOCIA19- ANGS IJ IpJ BEAR STEARNS OFFICE SOWING YOUR AMOUNT Boar. Stearns 8 Co. Mc. 383 Madison Avenue New York. New York 10179 (212) 272-2000 4 S4 Your Portfolio Holdings CASH & CASH EQUIVALENTS STATOOENT P0100 THROUGH ACCOuNT /dwell% w)n, muulICTI larlAWy 1. 2004 !awry 30.2004 On Ft LAST Simi:NSW December 31. 2003 INSCRPTICA. IlA10.,C USIA 0.14111Tv pRCE MOW IsrNAttA CURSENT VALUE NAM MOW MO PO CASH BALANCE -7.479,796 TOTAL CASH & CASH EQUIVALENTS S-7,479,796 EQUITIES Equities & Options otsosercw SYLIOCIAXISIP ACCT IYPE WAlltitt WSW (MATEO MICE Y_ AMYL/ NOW( CORM! nap no BANK OF AMERICA CORP BAC WON 100,000 81.4600 8.146.000 320.000 3.9283 WALT DISNEY CO HOLDING CO 06 CASH 250,000 24.0000 6.000,000 52,500 0.8750 FLEXTROMCS INTERNATIONAL FLEX CASH 100.000 19.0000 1.900.000 LID GALYANS TRADING INC GLYN CASH 150,000 8.8090 1.321,350 IFIL(IST FIN ITAL) T44352291 CASH 100.000 3.0450 304.500 EUR1 INYST CL MBNA CORP 10tIt MRGN 1,000,000 26.9600 26.960.000 480,000 1.7804 TYCO INTERNATONAL LTD Trc MRGN 100.000 26.7500 2.675,000 5.000 0.1869 VECTOR GROUP LTD YGR MRGN 412.658 17.1000 7.056.452 660,253 9.3567 SENTIGEN HOLDING CP RSTO 9380646 CASH 333.334 8.4500 2.816.672 Total Equities& Options 557,179 974 51,517,753 TOTAL EQUITIES 557.179.974 51.517,753 CUOMO DIVIDUCel 713 ,MOLLY Orme; SUSICWW but. Sasm. Swan On Ov II•bow.t. Cat MAI Stool) Item Ted 11ZIYI•3$59 Ufa 272.1000 FINANCIAL TRUST COMPANY INC 027 Ointoco. 43 001 vS24 EFTA01260694 CLEARED TROUGH 103 WHOLLY OveneD SulasX044 011 8 IpJ IJ ii C in r S9LTS£00- 019- ANGS BEAR STEARNS OFFICE SERVICING YOUR Accouna Bear. Steams b Co. Inc. 383 Madison Avenue New Yolk. New Yak 10179 (212) 272-2000 5 a'1 Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIWJED ANNUAL INCOME S1,517.753 YOUR PRICEDPOR7FOLIONOLDINGS $49,700.178 Transaction Detail INVESTMENT ACTIVITY Bev. Rums Start*. Cap. Ole Magma En loath ercothn. New 1.011 1120148ED 1212,212.1COD FINANCIAL TRUST COMPANY INC STAIDAINT 40,000 044100 1.2004 neoccar Maury 3O 2004 AMOUNT WAVER TAXPAYEA Nagel On ft LAST STATDJOIT December 31.2003 5(17104111 MAX DATE DATE TRANSAL11011 DESCRIPION SVABOUOJS• WOMMY MCC DEM MOM aume AVOW 01/05104 12/29/03 BOUGHT If LOST FIN ITAL) T44352291 100.000 3.23000 323.00040 EUR1 INVST CI. UNSOLICITED 62003122905955 I 01/07/04 JOURNAL TYCO INTERNATIONAL LTD TYC AMOCO JOURNAL FROM TYPE 1102 01/07/04 JOURNAL VECTOR GROUP LTD VGR -412493 JOURNAL FROM TYPE 1 TO 2 01/07)04 JOURNAL TYCO PITERNATIOPLAL LTD TYC 100.000 44111/MI. FROM TYPE 1 10 2 01/07/04 JOURNAL VECTOR GROUP LTD VGR 412.658 JOURNAL FROM TYPE 1 TO 2 027 0143104:00:43 001 V424 EFTA01260695 In I8 b.) IN? ln 00 0 -n in r 99LTS£00- IA19- ÅNGS BUNR STUNRNS OFFICE SERVICING YOUR ACCOUNT Beer. Stearns 5 Co. Inc. 383 Medtsco Avenue Nev. York, New York 10179 (212) 272-2000 Transaction Detail (continued) INVESTMENT ACTIVITY (corenued) StMDIOrt DMZ 117.101 DATE ntalaCTO. DISCR03/141 $71100.41191 DUMMY >ACI CENT 4444117 071CIT AMOUR 01/08104 01/D5/04 BOUGHT WALT DISNEY CO HOLDING CO 250.000 23.99000 6.012.505.00 WITH RIGHTS TO PURCHASE COMMON STK UNDER CERTAIN CRCUMSTANCE AVG PRICE SHONN-DETAILS ON REA COnTED nta TO YOUR AGENT UACTUAL NSOUP AS OF 01A)5/04 01/09/04 01/06/04 BOUGHT BANK OF AMERICA CORP BAC 100.000 79.07050 7.913.055.00 AVG PRICE SHOWN-OETAKS Ø REO SOUACTUAL COAWJA TO YOUR AGENT GITED 01/30.04 JOURNAL MEINA CORP '<RS .1.000.000 JOURNAL FROM TYPE 1 TO 2 01/30/04 JOURNAL MBNA CORP KRE 1.000.000 JOURNAL FROM net 1 TO 2 TOTAL CLEAN» 13ROUON 38 397•141.1 OWNED 6091014Ar kW San SeCutes Crn On7 W Cain Nam 11~1 7. 74m 709 112033139 r212, M.1003 FINANCIAL TRUST COMPANY INC 314113.10W PER« Wintry I. 2004 7141,03.. Janney 30. 2004 .1.107.7n Nunn« TAXP rq MAWR On FIB 1.481 STATEMENT oxen*. 31.2003 5-14 248.560 00 DEPOSITS AND WITHDRAWALS OAT. 01/05/04 FUNDS REC FNOSWIREO TO CMBANK FROM 5.4CHME F0540050143701 IØ otScoomoN OEMS 1112UNT 01100 AMOUNT 6.000.000.00 01/06/04 FUNDS REC FNDSW1RED TO CMBANK FROM GOLOWN SACHS CO WT40361615900 TOTAL $6.000,556.00 556.00 027 OW304.0933 001 VII>4 EFTA01260696 &WED AIROVIA1 ITS vretrAY oYRKD SUNIOARY C)0 -n C rn r L9LTS£00-019-ANGS BEAR STEARNS OFTICE STAKING YOUR ACCOUNT Boar. Steens & Co. Inc. 383 madden Avenue New YOfk, NEW York 10179 (212) 272.2000 7de Transaction Detail (continued) DIVIDENDS Nw. Sirens Safes COM 0.0 Ma wn One ?NM Etaitr. It at 20 22.19 12121272.100D FINANCIAL TRUST COMPANY INC wrAvEuevr wage mnuety 1.2004 yrtROJer Hewn 30.2004 ACCOM/1 Halt* TA,PAYM NUMICOI On FOe LAST STATEiron OeCembet 31. 2003 OM COMMON SYANOLCUSP OUANMY WE NI 0(00 MI001.1 CREDIT A2.42010 01/02104 MBNA CORP REG 12/15/03 PAY 01/01104 KRB 1.000.000 0.1000 100.000.00 TOTAL 1100.000.00 INTEREST DATE OESCAPTOri SIVICUCUSO OUANTITY RATE fl Men AMA" CROW NOUN! 01/21/04 INT DB 038-6605e 12131 - 01/20 .02.SCOOD% 6911. 7475820 AVG 4271898 01/21/04 INTEREST ONCREOIT BALANCE ACCT 038-66056 AT 00.5000091 12/21 - 01/20 01/29/04 AO/ 1/21104 INT CHRG TO FF.7 6.229.80 398.34 1.855.96 TOTAL S-6.229.80 52.254.30 MISCELLANEOUS LOOM' TIUMACTIOlt CASCRIEIDY DEBIT IACAM1 CREPT MOM 01/07/04 011071/0 JOURNAL JOURNAL JOURNAL FROM TYPE 1TO 2 JOURNAL FROM TYPE I TO 2 437.234.00 437 234.00 TOTAL 1.437.23400 5437,234.00 027 01•31/04210,13 601 1024 EFTA01260697 C) O Tz C in z J r 89LTSEOCIA19- ANGS IS b.) IpJ aL O BEAR STEARNS Cfnce SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Mason Avenue New York. New Yo.k 10179 (212) 272.2000 8 0/ • Trades Executed Pending Settlement 581110.00 1RADE art DATE 110/44411:44 010211P1101 02/03/04 01/29/04 BOUGHT Snalcucusr CLURE0 150,438 nS wHOus Vert Su9/108444 Sat Star% Seaslies Cap. 08 mamma — two (nods% Nes Tot 11201 3859 1214 2721000 FINANCIAL TRUST COMPANY INC STATTheir PEROD iStWery 1. 2034 1148003.4 ;assay 30 2004 ACCeciort M.2.10 TAXPAYIA MAWR LAtt 87A080.1 Decarttr 31. 2003 COWRY 15910 0880 481018.1 0000 AM:0V WALT DISNEY CO HOLDING CO [XS 1.000.000.00 24.5543 24.814.305.00 WITH RIGHTS TO PURCHASE COMMON AA UNCCR CERT MN CIRCUMSTANCE AVG PMCE SHONN-DETAIIS ON REO ACIUAL CONFIRM 10 YOUR AGENT IMSOUCITED TOTAL 624.614.305.00 $0.00 Do nay Infos 02 M— n sey ear 4004n al N 0•Cencon Your messages 111? Excess SIPC Account Protection Update Effective February 16. 2004. the commercial insurer through which Bear. Steams Securities Corp. obtains excess SIPC protection will change to Customer Asset Protection Company CCAPC0'). a New York licensed Inv-ranee company. CAPCO has an A. financial strength rating from Standard and Poets. STOPI End or Statemen The interest if any. charged to your account during December 2003 was computed on the net debt balance through December 30. The Interest. if any. charged to your account during January 2004 is computed from December 31. 2003. 027 01/3104.0943 001 v824 EFTA01260698