EFTA Document EFTA01320897

Statements CONFIDENTIAL SDNYG,00350710 EFTA_00223402 EFTA01320897 En 8 0 z ii C in z r VELOSEOCIN9- ANGS BEAR STEARNS CifICE MEWING YOUR ACCOUNT Bear. Steams b Co. Inc. 383 Morison Avenue Now York. New York 10179 ACCOUNT EXECUTIVE GNMA GOVT BONO VISIT OUR wESSITE vAsw.bearsteams.com What's In This Statement Ilmll...I..1,1I I I Financial Summary 3 FINANCIAL TRUST CO INC You' Portfolio Holdings 4 C/0 JEFFREY EPSTEIN Transaction Detail 7 6100 RED HOOK QUARTER Trades Not Yet Settled 13 STE 83 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio TOTAL VAWE OF SECURftES THIS PERIOD 11.218594 LONG ACCRUED INTEREST 112.288 NET CREDR BALANCE 732,186 cash s Eouvalent P12417 43.9 2 5. 5186 NET EMMY THIS PERIOD $12,063.068 NET EQUITY UST STATEMENT 11.991.065 CHANGE SINCE LAST STATEMENT 72.003 There are no 'Stop Loss' orders or Other pending buy or Sell (*eh orders on Me for your account. xed Income 111.218.594 511.635.695 Curet matte, vibe LA51 MAtemerICS market Vale AWARD) ThetOLA3m iivnOLLY OrnED SaA0Nrir Am Sten Secultes Cap. One vsoomen Cerny NAM &ea& Nem at 20 UN 12123 2/2.1000 FINAteik TRUST CO INC STAMMINT ream 0•COIViber 1.2004 2141002. December 31.2004 AOCOANT Nubile Texemill Nue On Fie WT STATDCIT November 30, 2C04 Si c Tbse.. .nee is be nvernainNi Armes Pty. erale ra W d BS Oxisiwit Tv. ststentit *wad be tk* la yr), needs Sea issIn• bd. Ice rya tar. Wane. 02' 0125N0522219 col Important Message If any idormation resorting 2004 interest. dhlt19903. MiSeehintOuS 41e0019, gran proceeds or original issue discount 6 reduced to be reported to the IRS for this account. a Coniolidatod Form 1099 will be navel to you by January 31,20050r a 1042Sby March 15.2005. no, 49. La EFTA01320898 Cinat.0 THROInn IS WHOLLY OVO4.0 SIAISCORy Saw Smarm S.ont Cap. Crie Mesacch Cern Wei &me110. Nor Yon 11201.3859 FINANCIAL TRUST CO INC 2 C) -n C rn z -H r ZILOSE00- 019- ANGS 8 IJ IJ STATEMENT BACKER IS PRINTED ON THIS PAGE 027 01/01103,00:111 001 2010 EFTA01320899 ITO IS b.) O.) La BEAR STERNS OFFICE SERVICING YOUR ACCOUNT Bea. Steams & Co. Inc. 383 Medium Avenue New York. New Yak 10179 3 ir Cash Flow Analysis "IS Puce Income Summary 7145 Puna0 'OR TO ant Opening Balance S244,955.43 U.S. Gen. Bond nt. 45,415.52 457,036.03 Securicks Soil 238,379,521.16 Govt. Agency lit 621,692.32 9.868.014.97 Corp. Bond Int 138.644.11 2.156.335.84 DMdexhAreerest 80634089 Credit Balance int. 988.14 2.010.60 Amount Credited 5237.186.261.25 Reverse RepurChaSe Int. 69.020.66 393.635.39 Securities Bought -238,520817.46 Total 5875.760.75 312.877.032.83 ii Owiderelsitnterest Charged Miscellaneous .177.712.91 .400.00 Bald Purchase Int. Margin int. Paid .17731281 0.00 -1.555.564.82 .2.023.40 Reptechase nt. Erp. -6,104.96 -223.899.19 C rn Amount Debited Net Cash Acdelty S-236.699.030.37 487.230.88 Closlrg Balance $732.186.31 Portfolio Composition CaslvCash Equivalent 732.186 Food Income 11.218,594 r Cash Balance Summary Omen C7OSN0 Total 311,950.780 EILOSEOCIN9- ANGS Margin 244,955.43 732.186.31 Net CashBalance 5244.955.43 $732,186.31 027 0'91,05 :39 19 101 came) n4toann rts nmotty onten SueslOWEY kit Urn Stolle) Carp. Ore Veratech Cott Win Roder. New Tot 11201.31$0 FINANCIAL TRUST CO INC STAlarxr IMMO DOCeTter 1.2004 TratOLCH DKenter 31. 2004 ACCOLM? muiete TNOANIR WOOER CO rib {AST STATnitYY Okuerter 30.2004 Cana Your Portfolio Allocation race tame 94% u..•aa< 'aloes ann. 0.61.Witne .at. mint" ww. nit aocoltri [swap, a aned ivrr he awe).* mark* i.e o erV MO* EFTA01320900 m C in r VILOSE00- 019- ANGS IS IJ La IJ BEAR STEARNS OFFICE SERYCING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madsen Avenue • York. New Yak 10179 4 of i. Your Portfolio Holdings CASH & CASH EQUIVALENTS DESORPTION CASH BALANCE TOTAL CASH & CASH EQUIVALENTS SruEIOUCUSP QUANTITY PleCE Watt( (STATED CLAW° VAIL1 ROAM 1110:04 'Inn on 732.186 S732.186 FIXED INCOME =ARAD TSINC404 RS Maar CrewED SvaDVARY Rea. beam Stones Cm. Cne UtnAch C Nosh tseekNn. Nye Vert lotn2asa FINANCIAL TRUST CO INC sTA/Esesr- "[moo DROMME 1.2004 TWCWN Doarnte 31.2004 ACCOa+T wag tkspArER %war" On Fie LAST ST ATPAPC ;Warty 30. 2004 Government & Agency Obligations DESORPTION STUD:VCRS. 1D l ME OUNIMY PRICE WNW SIAM ACCRUED INTERCO ESTROAIDD ANNUAL OCOLE CURRENT MID DEI FEDERAL HOME LOAN MTG CORP 31393FAF3 MRGN 15.528.072 9.7376 1.512.056 34.488 775.938 51.3168 SERES 2530 CUSS SE DATED DATE 10111402 BOOK ENTRY ONLY DUE 02/15/2032 4.997% FACTOR - .25880121 FEDERAL NOME LOAN MEG CCRP 31393W/86 MRGN 6.660.811 8.8299 588144 13.610 306,197 52.0616 SERES 2526 CUSS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 4,597% FACTOR .25880120 FEDERAL NATIONAL MTG ASSN 3138FAL01 MRGN 3.787.124 83.3594 3.156.923 3 38 0.0012 STRIP MTG SUES 322 CL PO DATED DATE 03/01/02 BOOK ENTRY ONLY CUE 03/01/2032 .001% FACTOR - 1.000:00o0 FEDERAL HOME LOAN MTG CORP 313927662 MRGN 13.405.702 8.4119 1.127469 27.389 816.260 54.8490 SERIES 2483 Cl Sl DATED DATE 07/0202 8COK ENTRY ONLY DUE 03/15/2032 4.597% FACTOR . .21239523 CRS 01 /014440114 001 7047 EFTA01320901 BEAR STEARNS Ornct SERVO% YOUR ACCOUNT Bear. Steams & Co. Inc. 363 Mad6on Avenue New York. New Yolk 10179 5 at 14 Your Portfolio Holdings (continued) Government & Agency Obligations Cconurmorn OtSCISION SilASCLCL60, ACT 1171 etwany PROM MARKS VALK ACCRUED OVNINST CSTRMICO AMNIA trY,CAN LURK'S' Irra) OL. FEDERAL NATIONAL MTG ASSN 31393C2C6 IARGN 14.098.699 9.1979 1.296,788 10,769 646.002 49.8155 SERIES 2003.49 CLASS SW DAZED DATE 04/30.03 80014 ENTRY ONLY DUE 01/25/2033 4.582% FACTOR - .58003204 Total Goyernment&AgencyObligetIOns 57.681.580 586.258 52.344.435 -n Corporate Bonds C rn DESCRIPOON SYLIBOLCUSS ACCT DTI 0.10arTY PDC" NANDI VALE ALCOVED WREST ESINATED AWOL SCOW( 0.119INT MELD MO PAM MAE CMO7SERIES 2003-13 313927062 MRGN 27.982.611 12.6400 3.537.014 26.030 1.561,989 44.1612 S RCR.I0 FLTR DATED DATE 02/25/03 BO% ENTRY ONLY DUE 03/25/2033 5.582% FACTOR - .55965223 Total Corporate8onds 53,537,014 526.030 51.561.989 TOTAL FIXED INCOME 511.218.594 5112.288 53.906.424 r .LNICD 714SOUGH as wHa.LT °AWED SLISSOARr Ur. Downs Seortes CDR. Coe EKED)-Corm Matti Oi Net rat 11201.3559 FINANCIAL TRUST CO INC STATFJARNT PON.00 OWNS 1.2004 1NPIDN't DOCOvnber 31, 2004 ACCOUNT %OWED RATVAYER WARM 0n NA LAST STATENEW NalLNISTOr 30. 2004 STLOSE00- 019- ANGS I8 b.) IJ YOUR PORTFOLIOHOLDINGSACCRUED INTEREST $112.288 YOUR PORTFOLIOHOLDINGSESTIMATE0 ANNUAL INCOME 53.906.424 YOUR PRICEDPORTFOSIOHOLOINGS 511.950.780 027 ONOTOS:09 10 COI W367 EFTA01320902 MGM 'WOW., ITS mat", 0.240 Slatean 80tEZZOO- V.L.43 BEAR STURNS OFFICE SERVICING YOUR ACCOUNT Beet. Steams & Co. Inc. 383 Mason Avenue New York. New York 10179 6 « •m Repurchase and Reverse Repurchase Transactions with Bear,Steams& Co. Inc. outstanding as of date of statement Bev Awn Scent On OY Iltoor Censer 1l0.0 ran 11201.3869 FINANCIAL TRUST CO INC STATUS/ 4T PEF600 0604.1ter 1. 2004 7100A0.0 Dectmber 31.2004 ACCOUNT KA48E, TAXPAYER 0J10)(9 On Me LAST S'ArEmer Ncw-ber 30. 2204 R.CIAASE/ REDURDIASIE PRI218G START DATE DATE RAIZ WO S! Mai MINCH% AtailJED REPO 110ERESt• WWII?! 643E /MOUND OAP OtSCRIFDDN YOU PROVIDED FEDERAL HOME LOAN MTG CORP (MARGIN) 09/15104 OPEN 0.000 -50000.030 313927/32 SERIES 2488 CLASS SO 5.5975 03/15/32 0 z ii YOU SOLD (REPO) 10/12/04 01/10'05 2.260 YOU SOLD (REPO) 10/14/04 OPEN 0.010 -9.478.000 •1 -49.385 -50,000,000 -44.389,962 3128CVUG7 38374FCM4 FHLMC• STPJP PRINCIPAL ONLY GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-2 CLASS S 4.7931 01/16/34 C in YOU SOLD (REPO) 12/22/04 01/13)05 2.610 -2.500.000 -2.175 -22.100.000 38374F067 GOVERIOAENT NATIONAL MTG ASSOC SERIES 2004.5 CUSS P 4.540002120/33 z J YOU PROVIDED NAMPO 12/2204 OPEN 0.000 -21.900.000 38374FD87 GOVERNMENT NATIONAL MTG ASSOC saws 2004.5 CLASS P 4.5400 02/20133 YOU BOUGHT USTR 3.000012/31106 (REVERSE) 12131834 OPEN 1.420 75.000.000 8,875 75.000.0O3 912$280F4 r TOTAL REVERSE REPURCHASE TRANSACTIONS $75.000.000 38875 TOTAL REPURCHASE TRANSACTIONS 3.11.978.001 3.51.560 _ 9TLOSECIO IN9 ANGS 'As 0 stativnert dole 027 012211054118 COI 5167 EFTA01320903 0 -n rn r LILOSE00- IA19- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. bc. 383 Madison Avenue New York. New York 10179 CLEARED ~Coen as vi503.LY OWNED SutSCCARY Bear. Steams S•oåme Cow. Cat Meliacch ewer Nali eØ Mew yore 11101,3859 FINANCIAL TRUST CO INC Breen/85T 99.010 Docents 1.2004 Transaction Detail INVESTMENT ACTIVITY ~Ern mot OAIE OAR 181115ACTION DESO.TON Sisearcus• GUMMY N80~ 5Ce05/47 MSS, to,e9AKR re.ealni usr 811.13/10rt Of en AMOUNT OeCtente 31.2004 On Fie NOolifte. 30.2034 CPIDIT APSDUMI 12)08(04 PRINCIPAL FEDERAL NATIONAL MTG ASSN 3136FALQ1 -123.651 STRIP MTG SERIES 322 CL PO 0 07,1 DUE 0301/32 PRINCP AL REDUCTN 12-25-04 12/15/04 PRINCIPAL FEN. HOME LOAN MTG CORPPS02884 SEMES 218 CL PO 3128CYUG7 368.807.00 DUE 02/01/32 PRIN RID 1144 PM 12-1504 REPO P II I 0.0000 12/15/04 PRINCIPAL FEDERAL HOME LOAN MIG CORP 31392113E2 -374.568 SERIES 2483 CL SL 4, DM 03/1502 019_ PRINCIPAL RECUCTI412-15-04 12/15/04 PRINCIPAL FEDERAL HOME LOAN MUG CORP 31393FAF3 -481,479 SERFS 2530 CLASS SE 5.310 ME 02/15/32 PR1NCPAL REDUCTN 12-15-04 12/15/04 PRINCWAL FEDERAL HOME LOAN MEG CORP 31393F086 -206.532 SERIES 2526 CLASS SI 4.910 DUE 02415/32 PRINCIPAL REDUCIN 124544 12/23/04 12/22/04 SOW UNITED STATES TREASURY NOTE 912828009 -25.000.000 99.75000 24.937.500.00 DUE 11/302006 02.875% IAN 31 SPECIAL INSTRUCTIONS ACCR. INT. 45.415.52 YIELD 3 008 % TO MATURITY 61/ER RE, 103575065 A3 %WEB 12/27/04 PRINCIPAL FEDERAL NATIONAL MIG ASSN STRIP WS SERIES 322 CL PO 3136FALQ1 123,651.00 0.001 DUE 0301132 PRINCIPAL PAYMENT 1225.04 12/27/04 PRINCIPAL FANME MAE CMO/SERES 2003.13 31392/082 -603,803 S RCR40 FLTR 5.820 DUEAL 034503 NW, REOUCTN 12.25-04 027 01/01.05:0911 Wt VOW EFTA01320904 =JAW InteuGn fl *wow Eat StaSIDaRy 0 I tfra ZOO- Vida BEAR STEARNS OFFICE SERVICING YOUli ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Menus N eY Y 10179 8 au Transaction Detail (continued) INVESTMENT ACTIVITY (continua& SETROADFT Mt! OAR OAR tendSCION DESCOPTION STIMO-CUSIP OUMIMY IMF 12127/04 PRINCIPAL FEDERAL NATIONAL MTG ASSN 31393C2C6 -304.219 SERIES 2003-49 CLASS SW 4,820 DUE 01 /25/33 0 12/30/04 12/29/04 BOUGHT PRINCIPAL REDUCTN 12.2544 UNITED STATES TREASURY NOTE WE 11/30.2006 02.875% MN 31 SPECIAL INSTRUCTIONS 912828009 25,000,000 ACCR. NT. 99.59375 YEW 3,094 % TO MATURITY -n 12/30/04 12/29/04 BOUGHT GVER RU Le 63544702 61 1W/E8 UNITED STATES TREASURY NOTE 912828009 50.000.000 99.59375 C in 12/316)4 12/29/04 SOLD DUE 11/30/2006 02.875%. LIN 31 SPECIAL INSTRUCIENS YIELD 3.094% TO MATURITY GVER REF 163644702 A3 %WEB UNITED STATES TREASURY NOTE 912828064 ACCR. MT. 45,000.= 99.76139 12/3 03.0S0% JO 30 DUSPEC IAL I E NS TRuC 112008 MU) 3,124 870).4%8mn i CAR REF • 63644700 83 YAWS 12/31104 12/29.04 SOLD UNITED STATES TREASURY NOTE 9128280F4 -50,000,000 99.76139 r _ WE LOSE00 IND ANC'S 12/31/2004 3. SCuE PEaAL resTRucn0oNS003% JO 30 YIELD 3.124 %10 FAARIRITY CVER REF a 0164 4 ?CO AS ?AYES Oen. an Saute Cop. ON Manach TAM Eiroahn et at 20 -31150 FINANCIAL TRUST CO INC STATEFADIT PECe00 Detente 1.2004 •wtsm Deeente 31. 2004 ACCOunT TAIMAYER noun, On Fie LA$T SFAFEI4Va NOWM044 30.2004 efAC ;Ate° 011ea AlIOLP41 24,898,437.50 59,237.64 49.796.875.00 118.475.27 24.940.347.50 49,880,695.00 TOTAL S-74.873.025.41 $100.296.416.02 INTEREST DATE OlISCRIDOX SnalOUCUSP oumarr RUE Og OM MaCall CAM MOUNT 12/01/04 AVG BAL 405.430RT 1.280 425.84 021 OFFICE MEREST 1104 023 0101/06.10000 001 14107 EFTA01320905 I In:Z.-COO-Via 0 0 m C in r 6TLOS£00 IN9 ANDS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams .1 Co. Inc 383 Madison Avenue rk 10179 Transaction Detail (continued) CLEARED ThAOJCM ITS LWOW" OVOCC SURSELARY BUT Sten Sans CND One Meuctath c4/1:. Aber fir"Mn. Mom YD. 1120/4858 FINANCIAL TRUST CO INC STATEIFIVT PCMOD December 1.2004 THROuCAL December 31. 2044 ACCOUNT MAYER TAATTAVER TEASER On Fie INTEREST (contInts0 LAW STANDOENT 140•11MINI 30. 2004 DAN Runt ETPAIOUCUSIP tummy WE 04 DEBT Weal CRUM MOM 12/15/04 FEDERAL NOME LOAN MTG CORP SERFS 2483 CL SL 31392T6E2 4.9100 56484.27 DUE 03/152032 4.910 INTEREST PAYMENT 1245414 12/15/04 FEDERAL HOME LOAN MEG CORP SERFS 2488 CLASS 50 31392T132 5.9100 58.926.32 WE 03/15/2032 5.910 KT RA 11-04 RD 12-15-04 REPO P II I 5.9100 12/15/04 FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS SE 31393013 5.3100 70.842.27 OUF02115/2032 5.310 INTEREST PAT/WIT 12-15-04 12/15/04 FEDERAL HOME LOAN MTG CORP SERIES 2526 CLASS SI 31393FG86 4.9100 28.098.88 DUE 02,16/2032 4.910 INTEREST PAYMENT 12.15.04 12/16/04 GOVERNMENT NATIONAL MTG ASSN SERIES 2034-2 CLASS 58 38374FCM4 5.0980 173.322.19 DUE 01/162034 5.098 Pa PAD 12-04 /0012-15-04 REPOP&I 5.0987 12/21/04 GOVERNMENT NATIONAL MTG ASSN SEWS 2034-5 CLASS PS 38374F067 4.5400 176.366.67 WE 02/222033 4.540 NT RiD 11-04 PA) 12-20-D4 REPOP&I 4.8100 12/27/04 FANNIE MAE CMO/SERIES 2003-13 $ RCR-VO RTR 31392JDK2 5.8200 138.644.11 DUE 03252033 5.820 141txt.st PAYMENT 12-25-04 12/27/04 FEDERAL NATIONAL MID ASSN SERIES 2003-49 CLASS SW 31393C2C6 4.6200 57451.72 WE 0125/2033 4,820 INTEREST PAYMENT 12-25-04 027 0101/061014 001 VDS7 EFTA01320906 =ARCO TNRCUSH wyCLI. OANED SUSSOPAV -n C in r OZLOSEOCIA19- ANGS I8 IJ V.) IJ BEAR STEARNS OFFICE SERVICING YOUR ACO3uVr Real. Stearns & Co. Inc. 383 MaEsces Avenue New York New Yak 10179 10 Cf•4 Transaction Detail (continued) INTEREST (cant:wed) DATE MISCSIPT* 12131104 AVG EIAL 475.28ERT 1.374 562.30 021 OFFICE MEREST 1204 TOTAL 5761 .324.57 STASO-CLRIP SSW SteMi SWAM CM. DAN wear° Grey loll emert tem Yon 112014455 FINANCIAL TRUST CO INC STATEMENT PE December 1.2004 DISOWN Dweifew 31.2004 ACCOUNT MOSER TAIDAATET DOWISet On tie LAST STATEMENT MOrMnbel *2004 TAMan. RAT TO CENT WOW CREDO /MOUNT REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear, Stea mS8 Co. inc. SETTLEMENT TRADE DATE OATE TRANSACT* DESCRIED* SWAKtCUSIP ClummrT OM MOUNT OMNI AMOUNT 12/13104 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374F087 -44.000.000 3.186.000.00 S.81 ERIES0 OM 20004-520 CUSS PS 4 2/ /33 FUN F3483178 Al REPO AGREEMENT 12/13104 JOURNAL GOVERNMENT NATIONAL MFG ASSN 38374F097 44.000.000 3.260.000.00 SERIES 2004-S CLASS PS 4.810 DUE 02/20(33 FITM F3293248 AZ TERM REPO AGREEMENT 12/13/04 JOURNAL GOVERNMENT NATIONAL MEG ASSN 38374F067 -44,003000 5.186.000.00 HIRES 2004-5 CUSS PS 4.610 DUE 02/20/33 rum F3483178 Al REPO AGREEMENT 12/13/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374F087 44.000.000 5,188,000.00 SERIES 2004-5 CLASS PS 4,810 DUE 02/20/33 WM F3483178 A2 REPO AGREEMENT 12113.04 INTEREST GOVERNMENT NATIONAL MTG ASSN 38374087 4,028.10 SERIES 2034-5 CLASS PS DUE 02/2012033 4.810 HIM F3293248 AZ REPO INTEREST ov 0101106/0915 031 54/17 EFTA01320907 EIVEZZOO- V.L43 E I 0 m r _ TZLOS£00 IN9 ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 MadLscn Amnue New Y N Y 10179 11 au Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) SMIDAEPrt TRADE OAR OM MANSICTKIN DESCRPTON 12/22/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN MATES 2C0 PS 4.540 DUE 02/ 20133 1111A F3573210 Al REPO AGREEMENT 12/22)04 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 4.540 DUE 02/20/33 FIDA 13573208 Al REPO AGREEMENT 12122/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERI 2004-5 PS 4.54ES 0 DUE 02/20/3 CLASS 3 FITM 13483178 AS TERM REPO AGREEMENT 12/22/04 INTEREST GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS DUE 02/202033 4.540 RIM 13483118 Al REPO INTEREST 12/23/04 DELIVERED UNITED STATES TREASURY NOTE DUE 11/302006 2.875 2,875 DUE 11/3006 FITM 13350625 A2 TERM RESALE AGREEMENT 12/23/04 RECEIVED UNITED STATES TREASURY NOTE DUE 111302006 2.875 2.875 DUE 11/3006 ITEM 13580822 Al RESALE mmcrimM 12/23/04 INTEREST UNITED STATES TREASURY NOTE DUE 11/30/2006 2.875 ITIM 13350625 A2 RESALE INTEREST 117.11O.O.112P OlVIIIIV OMIT AMOUNT 383741087 -21.900.000 383741087 .22.100,000 383741087 44,000,000 3,186,000.00 383741087 2.078.B6 9128280D9 -50.000.000 912828009 75,020.003 75.187.500.00 912828009 CLkAMD mitouCe. RS W00X OWE= SESSCEARY but Sam Serves Cep. Ceelbotorat Galt( /1011 Broebe. Nee Ton 117014459 FINANCIAL TRUST CO INC STilrzerera Of R103 Detente 1. 2004 TkR00011 Detente, 31.2054 ACCCEATT NIAMER TAXPAYER KAISER O1N* LIST STA1Tunr, November 30.2004 MIXT Meat 2,500,003.00 50.000003.00 49,597.22 OP 01.01/05041111 001 VO61 EFTA01320908 En IS IJ IJ -n C in r ZZLOSE00- 019- ANGS BEAR STEARNS OFFICE SERviceNG YOUR ACCOUNT Beer. Steams & Co. Ix. 383 Mad son Avenue 12 au Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continue SITTIDAINT Ma OATS DATIL FIMMACIMPI OESCIDTKot SYMIKAICUMP GUMMY OWl UMW! Ca AMOUNT 12/30/04 12/3004 12/31/01 DELIVERED MEREST RECEIVED UNTIED STATES TREASURY NOTE DUE 11/302008 2075 2,875 DUE 11/3008 EITM E3580822 1.2 TERM RESALE AGREEMENT UNITED STATES TREASURY NOTE DUE 11/3012005 2.875 RIM F3580822 A2 RESALE INTEREST UNITED STATES TREASURY NOTE DUE 12/31/2008 3.000 3.000 DUE 12/31/06 env F3860898 Al RESALE AGREEMENT 912828039 912828009 912828014 -75.030.000 75.000.000 75.000.000.00 75,187,500.00 10.12111 TOTAL 5.161.825.601.96 5136.120520.86 MISCELLANEOUS CLL.= INROuGm ITS vm4OLLY OveK0 SUSSOART bro. Wan Swims C4M. Ore itoroudi Cats Mtn Niro era 20 2119 FINANCIAL TRUST CO INC STATEMENT PERCO Detente 1.2004 1101000.1 Cecembe 31. 2004 NYOLen moats TANPANTR loan Crt Fae LAST STATcycNT NDwmbM 30.2001 art (COAT TtANSACTON A SCRPTICA OM' Mann C21134 WOW, 12/15/04 JOURNAL TOTAL S-400.00 NOV Oa SPEC CLEARING FEES 400.00 027 01,0101.09 Is 001 v.57 EFTA01320909 0 z m C in z r EZLOSE00- 019- ANGS I8 IJ IJ BEAR STEARNS DUCE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Macloon Avenue Now York. New Yak 10179 73 • Trades Executed Pending Settlement !MOW MCC OAR TR/MACON cestseencw 01/20105 1205/04 BOUGHT WAPItO nayousn ITS vat.LY OesICO SULISICUSY flee. - Sins Cup. Cry IA•ktitch Ci Mot &coo)" Mn 'tart 11201-38S9 FINANCIAL TRUST CO INC STAMAINT PERM DeCtenbe 1,2004 1/0001 Otters:cc 31. 2004 Accown rotate TAXPAYEll klIkIM On Tie LAST STA/DWIT November 30. 2004 SVISCUCUSIP aWainiv neeE CENT Amain MOO MOAT GNMA-30YR(GNMA)GTD 5481673 7.000.000.00 102.3515 7.164.609.38 SETT.01/05 DUE 01/152035 06,500% 0987797115332 RU 0 2004121557020003 85 01/20/05 12107/04 SOW GNIAA-30YR(GNMA)670 SA21673 -7.000.000.00 1013687 7.137.812.50 SUT.01/05 DUE 01/15/2035 05.500% 09E/7031317332 RU 0 2004120757310000 BS 01/20/05 12/07/04 BOUGHT GNMA-30YR(GNMA)GTD 5031743 100.00,000.00 µ 103.5468 10,354,687.50 SE11.01//05 DUE 01115/2035 05.000% 0987031317332 REF 12004120757760000 BS 01/20/06 12/15/04 SOLD GNMA-30YR(GNMA)GTO SA81743 40,000,000.00 103.5937 10,359,375.00 SET7.01005 DUE 0105/2035 06.000% 0987797115132 REF • 2004121557036000 ES 02/10/05 12/16/04 BOUGHT FNMA 30YR GTD 5A$1912 10,000,000.00 103.0312 10.303.125.00 SETT. 02.05 WE 02/01/2035 06.030% 0987031317332 REF 0 2004121657320000 85 02/1005 12/30/04 SOLD FNMA 301RGTO SA81912 -10.000=030 102.9843 10,298,437.50 SETT. 02105 DUE 02/0112035 06,000% 0987280211332 RU 0 2004123057220003 BS 02/15/05 12/30104 BOUGHT FN/4.1.15YR(FNMA-15)GTD SA82209 11.000000.00 102.9765 11,327,421.88 SE17.02.05 DUE 021012020 05.500% 09872(0211332 REF s 2034123057230000 BS 027 OI/Oli06.0,18 COI VOIR EFTA01320910 -n C rn r VZLOSE00- 019- ANGS BEAR STEARNS ornct SERVICAG YOUR ACCOUI;T Bear. Steams & Co. M. 383 Madison A',e'ue New York. NEV. '• '0179 Trades Executed Pending Settlement (continued) St7R13.041 TRW( CAN DATE TIUMACT1301 DESCRPT011 02/15105 12/16/04 SOLD SneBOLC050 °JARED 11910utli ITS led•Okre Om= Suf*OARY Mac Sinims Secants Om 0-4 Renown Gen Wet, lit* Yen 11201.3440 FINANCLL TRUST CO INC GUMS/ PERCO Occembe 1.2004 THROUGH December 31. 2004 ACCOLW Mama Thanvelt Nugent On Fee vat aTATtuorr Iknernber 30. 2004 RUMMY elbef can mown at DO WOUVI FNIAA•15YR(FNMA45)GTD 5A82209 •11.000.000.00 103.1093 11.342.031.25 SETT.02/05 DUE 02)0112020 05.500% 0987031317332 REF • 2D:41216573300W 85 TOTAL 539149.843.76 539.137.656.25 ecm. &se. as -et arc> es-, ors nee, of rA interns- STOP End of Statement 027 01.01/05.00 le CM Yl4S7 EFTA01320911 Ln I8 b.) IJ BEAR STEARNS °MEE SERvCING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Morison Avenue New York. New Yak 10179 ACCOUNT EXECUTM GNMA GOVT BONO VISIT OUR Main emyttreanteams.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 7 0 TZ E I C in Your Portfolio at a Glance TOTAL VALLE CY SECURTTES 1146 PERIOD 11.635.695 Market Value of Your Portfolio Cash & Equi.aent 5244,955 $334.039 LONG ACCRUED INTEREST 110415 FatE 51V 58 .6381 59 95 $ NET CREDIT BALANCE 244.955 I n arm market value r NET EOuiTY THIS PERKO NET TOUITY LAST STATEMENT 511.991.065 12,027.839 WI LSE statements market vela CRANE& SINCE LAST STATEMENT -36.774 IIIelllefeletllll I I FINANCIAL TRUST CO INC CIO JEFFREY EPSTEIN 6100 RED HOOK QUARTER STE B3 ST THOMAS VI 00802 SZLOSEOCIA19- ANGS There are no 'Stop Loss' ceders or other pending buy or sell open orders on file for your account. CtS.MCO art042321 ITS Wo400.Y OM,CO SISSIOVar Bar SW. SeCLrflazi Cap. One Varcritth Cara were &war. New Vol 11201-3132 FINANCIAL TRUST CO INC STAMP(' Person October 30. 2004 traCtrair November 30, 2004 at& Pa PUMP lamnit Karla Oil% LAST STATtgera 0000el 29.2004 SIN The Melly a I papaws eat 1 is ed ninon'ilia 00arreeS. The arena onas a nnaaro kI yawner's Set reetrae siee h, went mIt-ainn 027 2.0/ 04..! 42 001 ‘10.5A EFTA01320912 CLEME.9 THROW,. a! W4OUV 0Afa 11.510IA1re Sex. Stem Secknnel Co9. Coe Metsotan Corby Not &oak i. va Von 11201.3559 FINANCIAL TRUST CO INC rn IS IJ IJ -n z C rn z -H r 9ZLOSEOCIA19- ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 12.0,04 `411 007 4165A EFTA01320913 BEAR STEARNS SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York. New York 10179 3 a . 5 Cash Flow Analysis POOOD Income Summary Thl$ KOZO 114410 0101 Opening Balance Securides Sold S334,039.38 238.130.859.91 U.S. Govt. Bond Ia. Govt. Agency kit. Cap. Bond Int. 36,256.91 677,473.11 147,441.74 411.620.51 9,246,322.65 2,017,691.73 0 Dividends/interest 881.56899 Croat Balance Int. 0.00 1,022.46 0 Amount Credited Securities Bought 5239.012.429.90 -238,871,224.78 Reverse Repurchase kit. Total 72.266.51 5933 438.27 324.614.73 512,001,272.08 TZ -230.189.07 Bond Purchase IN. -209,538.14 .1377,851.91 Dividends/I Charged i t Miscellaneous -100.00 movn IN. Paid -252.70 -2,023.40 C Amount Debited S-239,101.513.85 Repurchase Int Exp. -8.708.90 -217.794.23 rn NE Cash Activity -89.063.95 Closing Balance 5244,955.43 Portfolio Composition Cash/Cash Equivalent 244.955 Feed Income 11.635.695 r Cash Balance Summary 090.ING CLOSING Total 511,880.650 Margin 334.039.38 244,955.43 Net Cash Balance S334.039.38 5244.955.43 LZLOSE00- 019- ANGS Or/ 1401124.14 42 OW 0.1JutE0 DIROutal ‘410.1. Owe.° Sue: muff Boar —% &oxbow C.n. One Metreugh c Kali Orzothn. Stu York 112014859 FINANCIAL TRUST CO INC STATElatir 04.4C0 Odther 30. 2004 notOUOil NOverter 30. 2004 44C0ton MAIM TAXPAYER KRIM LAST STATIVENT On Fie October 29. 2004 Your Portfolio Allocation PSI & Equiralen4-, 2% — Filed Ircorno 98% UM1.11.0.1 wive OeVis 4.44 tNt. anzito ear •rati vita Th. /11:0Cake %IMAM. la tuna to L itRolla mail vas ”to onbi43 EFTA01320914 0.EAREO 11690609 rTS V99O6, 09920 $44.9OAliv -n C in r KLOSE00- 019- ANGS 8 IJ IJ 07 IJ BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. SWIMS & Co. Inc. 383 Madsen Ayen...A New Yak. New. vc • L‘179 N'5 Your Portfolio Holdings CASH 8 CASH EQUIVALENTS Bar Loans Smears On. 0.9 Metrtenn CerMr 79:69 Broil . Loa Yen II201.3159 FINANCIAL TRUST CO INC STATE...O 99.000 October 30.2006 94409004 Ncrerrte 30. 2034 Alm WI MAMA TAXPAYER Noway. On Foe LAST rArmee October 29.2006 0250290311 SANS per, MARCO MU! LSTIAMED 811104 MOVE CURLEW YEW 04 ES11983ED ROCK WOK 090100 MID OD CASH BALANCE 244.955 TOTAL CASH & CASH EQUIVALENTS 1244.955 FIXED INCOME Government & Agency Obligations DESOZMN SaSIOUCL6a ACV rat OLWITITI MCI IMMO WW2 ACCROID NW= FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS SE DATED DAM 10/11102 BOOK ENTRY ONLY DUE 02/192032 5.310% FACTOR • .26682586 FEDERAL HOME LOAN MTG CORP SERIES 2526 CUSS SI DATED PATE 100102 BOOK ENTRY ONLY DUE 02115/2032 4.910% FACTOR • .26682585 FEDERAL NATIONAL MTG ASSN STRIP LNG SIRES 322 CI. PO DATED DATE 03)01102 BOOK ENTRY ONLY COE 03/01/2032 .001% FACTOR • 1O0020003 FEDERAL HOME LOAN MEG CORP SERIES 2483 CL SI DATED DATE 070202 800K ENTRY ONLY OUE 03,15/Z032 4.910% FACTOR - .23888857 31393FAF3 31393FG86 3136FAL01 3139203E2 MRGN MRGN IARGN MRGN 16.009.551 6.887.343 3,910.775 13,780,270 9.8266 8.8980 81.9844 8.4914 1.573.192 611.058 3,206,224 1,170,134 35.424 14.050 3 28,191 850.107 337.187 39 676.611 54.0371 55.1809 0.0012 57.8234 047 12931.04:1412 001 MS. EFTA01320915 0 I I C rn r 6ZLOSEOCIN9- ANGS I8 IJ IAA IJ IJ BEAR STURNS OFFICE SERYCING YOUR ACCOUNT Beer. Stamm & Co. Inc. 383 M.30503 MOM New YO4 New Verk 10179 5 ce Your Portfolio Holdings (continued) Government & Agency Obligations (con0nued) DESCNEMON SYSOOLCUS. nR ouvany PM WRIST WILY *WSW MIRES, LSIIIIATED NOM, MOWS CURRENT taw t FEDERAL NATIONAL 1.176 ASSN 31393C2C6 MRGN 14,402.918 9.8728 1,421.966 9.642 694,221 48.8212 SERIES 203349 CLASS Sw DATED DATE 04/30/03 BOOK ENTRY ONLY 5/ FACTOR - .5923 54784.8420% Total Government& Agency Obligations 57.982.574 587.310 52.558.165 Corporate Bonds ACC ACCIMO MUM 074:1047 Of SCSIPM4 SMICSCLSI7 flit 000NREE PRIC1 MAW MIX DIMS! AMYL MOW YEW MU FANNIE MAE CM0SERIES 2003.13 31392)01(2 MRGN 28.586.414 12.7792 3.653.121 23.105 1663.729 45.5427 RCR.9O FUR OMED 0212 DATE N1RY 8008 E ONLY DUE 0 5/2 3/2 033 5.820% FACTOR . .57172828 Total CorpOrate6cnds 53.653.121 523.105 $1,663,729 TOTAL FIXED INCOME 511,635.695 5110 415 54,221 894 CLEARED TIMM ITS mOLCI °MED SUSSOMY eta. Stem Smite Cap Oro waxed, Cotter NeM Moon Mat Tot 11201410 FINANCIAL TRUST CO INC STA1O PEASCO CMS! 30, 2004 MECUM Natenter 30. 2004 ACOMO YUMMY MAIM CO lie LMT STAMMT OcitSIt 29.2004 YOUR PORTFOLIOHOLOINGSACCRUED INTEREST YOUR PORTFOLIONOLOINGSESTIAATEO ANNUAL INCOME 5110.415 54.221.894 YOUR PRICEDPORTECtIONOLDINGS 511.880,650 027 12471 /04.1 4 42 COI VOW EFTA01320916 CLEARS') PROUGH rte ‘111OLL2 020821) sweet/-w BEAR STEARNS OFFICE SERVICING VVUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York NEM YCCk 10179 6 of S Ow. Stews SeCLMA-1 CUD. Cr* leivtiech Caw cTh km von 11201.3869 FINANCIAL TRUST CO INC STATate Plrec0 ectoter 30.2004 Repurchase and Reverse Repurchase Transactions with Bear, Steams& Co. ine.outstanding as of date of statement Fuk04241/ fiENRCHASE PRONG PUROUSE PROM ACCRED REPO WM DATE 0Alt WI PRI8094 188tittS11 01181/21TY RAU Al.920140 OAP "at:UGH no.ember 30.2004 ArC0.8a ranSIER ThAPAYER WIRIER On Fie LAST STATPENT Ctlober 29. 2004 00.2111181011 YOU PROVIDED FEDERAL HOME LOAN AEG CORP (MARGIN) 09/15/04 OPEN 0.000 40.000.000 313927/32 SERIES 2488 CLASS 93 5.910001/15/32 0 YOU SOLD (REPO) 10/12/04 01/10/05 2.260 -9.478.000 .29.750 40.000,000 3128CVUG7 FHLMC• STRIP PRINCIPAL ONLY -n YOU SOLD GOVERNMENT NATIONAL MTG ASSOC (REPO) 10/14/04 OPEN 0.010 -1 44.389.962 38374FCM4 SERIES 2004.2 CLASS S 5.0987 01/16(34 C rn z YOU SOLO (REPO) 11/24/04 12/13/04 2.340 YOU BOUGHT -3.260.000 -1.483 -44.000.000 38374F087 GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-5 CLASS P 4.8100 02120r33 USTR 2.875011/30/06 (REVERSE) 11/30/04 OPEN 1.650 50.000.000 2.291 50.000.000 912828009 TOTAL REVERSE REPURCHASE TRANSACTIONS 550.030.000 52.291 TOTAL REPURCHASE TRANSACTIONS 1.12.738.001 5.31,233 mw Ctlet• r OELOSE00-019-ANGS EFTA01320917 En IS IJ IJ IJ C) -n C in r TELOSEOCIND- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams 8. Co. Inc. 383 Madison Avenue New York. New York 10179 7 ye , s Transaction Detail INVESTMENT ACTIVITY StIltaiorr OAR 11/03/04 num OAT! ut/NRC/ICN 11/02/04 SOLD CCSORPMN UNITED STATES TREASURY NOTE DUE 10/31/2008 02.503% AO 30 0988018192099 VELD _,2 605 %TO MATURITY OVER REF G3071010 Al syvecteusP *AWRY 912828CY4 -25.000,000 PIECE 99.79688 MGR. M. PLAID MCAT ifs MOLLY Owe f. WRY NE. Simms Sanas en DY Miumath C— low 1120141SE FINANCIAL TRUST CO MC STATEMENT PERIOD Octobot 30.2034 NEMO, Ncrett/ 30.2004 ACCOu.rt hove= TAA,Avra Amen On FR LAST STAineit 0,30be, 29.2°04 COE AMOUNT CREDIT MOW 24.949.218.75 5.17956 11/03/04 11/02/04 BOUGHT UNITED STATES TREASURY NOTE CUE 09/30/2008 02.500% MS 31 0988016192099 YIELD 2.584% 10 IMTURITT OVER REF • G3071014 Al 912828CY/8 25,000.000 99.84375 24.980.937.50 ACCR M. 58,379.12 1105/04 PRMCPAL FEDERAL NATIONAL MTG ASSN STRIP MTG SERIES 322 Cl. PD 0.001 DUE 03/01132 PRINCIPAL REDUCIN 11.2541 31313FAL01 .130.707 11/10/04 JOURNAL FANNIE MAE CMO/SERIES 2003.13 S RCR-N3 FUR 8087 DUE 03/25/33 31392/052 1 11112/04 11/08/04 SOLD FEDERAL HOME LOAN MTG CORP SONS 2471 CLASS Yr DUE 01/15/2032 0100011 0987797115332 RU 2034111258010003 B$ AS OF 11/08004 31392R6U0 -12.238,935 2.68750 ACCR. INT. 328,921.38 9.179.20 11712/04 11/013/04 SOLO FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS Yr CUE 03/1512032 01.000% 098779711 REF 2C0451112 33256070000 8S AS OF 11/08/04 31392R6U0 -12.238.935 2.68750 ACCR M. 328.921.38 9,179.20 11/12,04 1015104 BOUGHT UNITED STATES TREASURY NOTE CUE OW15/2007 02.750% FA 15 09882130293099 YIELD 2.758 % TO MATURRY OVER REF • 03171013 Al ORIGINAL SD 10/18/04 AS OF 10/15101 • 912828CR9 15.000,000 99.97656 14.996.484.38 ACCR. INT. 71,739.13 037 iVOIAM:14A2 COI VIES/ EFTA01320918 BEAR STURNS OFFICE SERI/ICING YOUR ACCOUNT Bear. Stearns & CO. Inc. 383 Madison Avenue New York. New York 10179 a e•s Transaction Detail (continued) INVESTMENT ACTIVITY (continued) SETRO/00 MAO( CEA DMZ ITANTACT*4 COOSTMEN =MUCUS, 11/15/04 PRINCIPAL FEDI. HOME LOAN IMO CORPOS02884 31280/007 SERIES 218 CL PO DUE 02,01/32 PRIN WD 10-04 PO 11-15-04 REPO Pal 0.0000 1115104 PRINCIPAL FEDERAL HOW LOAN MTG CORP 31392T6E2 SERIES 2483 Cl. St 4.910 DUE 03/15/32 -n 11/15/04 PRINCIPAL PIENCPAL REDUCTN 11.15-04 FEDERAL NOME LOAN MTG CORP 31393FAF3 SERIES 2530 CLASS SE C rn 11115/04 PRINCIPAL 5.310 COE 02/1802 PRNCWAL REDUCTN 11-15-04 FEDERAL HOME LOAN MTG CORP 4.rowS 2526 CLASS 54 31393(086 4.910 DUE 02/15/32 PRINCWAt nunti 11-15.04 11/18/04 1117,14 SOLD UNITED STATES TREASURY NOTE 912828CY4 DUE 10/31/20243 02.500% AO 30 098800%06099 YIELD 850 MATURRY DOVER RE/ • G3221005 Al r 11/22/04 11/22/04 SOLD NT USW 211 9128=09 8141885 CUE 11/30/2006 02,875% MEN. AS & IF ISSUED 0988018192099 YIELD 2.980%TO MMURffir GVER REF a 63271032 Al 11/23/04 11/22/04 BOUGHT UNITED STATES TREASURY NOTE 912828CY4 ZELOSE00- 019- ANGS I8 IJ IJ IJ OLEMEO TNECNEel NAOS? OWNED RAISOMRY Ent SWIrni SeCONS Cap. OR Meroisch One NONA Mi l ase at 20 MN FINANCIAL TRUST CO INC STATEMENT PERIOD Oda& 30.2004 INROUON No•ambor 30.2004 AO2CANT SUMER TAXPAYER miumot On No LAST STATOCNT Odoeur 29.2004 OUPMFIY 111a Nair =art CRON Amawn -434.132 337.310.00 -440.388 -188.897 -25.000.000 99.33984 ACCR. INT. 24.834.960.94 31.077.35 40000000 99.79760 50000000 99.17969 49.589.844.00 DUE 1031/2006 02,500% AO 30 ACCR. INT. 79.419.89 0988016192099 YIELD ,2 938 %TOMATURITY OVER REF • 0327102$ Al 4a7 12501.34:14:42 COI yew EFTA01320919 m I8 b.) V.) V.) 0 0 1 1 C in r EELOSEOCIND- ANGS BEAR STEARNS Calla SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York New York 10179 9 or .> Transaction Detail (continued) INVESTMENT ACTIVITY (continued) srmatert DATE OAT( TRANSACTION DESCRPTITIR STIOCIJOJW auiNnw PRICE DWI AJADJX! CREDIT AARTIRO 11/23/04 11/22/04 WI USTR 2Y 8141885 50.000,000 99.79760 912828009 CUE 11/30/2006 02.875% WHEN-ISSUE RESCINDED 0988016192099 YIELD 2.980%TO MATURITY TO al PREVIOUS SELL 11/26104 PRINCIPAL FEDERAL 'NATIONAL MTG ASSN 3138EALCI1 130,707.45 STRIP MTG SERIES 322 CI. PO 0,001 DUE 0101/32 PRINCIPAL RAIMENT 11-25-04 11/28/04 PRINCIPAL FANME MAE CMO/SERIES 2003-13 313921DIC.2 473,881 S RCR.V0 FUR 6,881 DUE 03/2543 PRINCIPAL REOUCTN 11.25-04 11/28/04 PRINCIPAL FEDERAL NATIONAL MEG ASSN 31393C2C6 -289.143 SERIES Z003-49 CLASS SW 5.881 DUE 01/25/33 PRIWWAL MOULIN 11-2S-04 11/30/04 11/22104 SOLD UNTIED STATES TREASURY NOTE 912828009 -50.000,000 99.79760 49,898,797.50 DUE 11130/2006 02.875% MN 31 0988016192099 YIELD 2,910 % TO MATURITY GVER REF 0 63271032 AS AS Of 11122104 TOTAL S-89,756.804.02 5100,863,458.71 INTEREST OAR DLCCRPTION SYWOLICuSir WARTRY RATE RD DWI AMOUNT CROW mann 11/01/04 ANGINA 684,53ORT 0.428 252.70 021 CAME INTEREST Tom ••••• 027 12.01104.1442 001 SSA WOOED nona.011 m varrOLLY OwrolD StAlaWAITY 84or Tars Stones Ca,. 1.10nurch Croy MOM Ms Tort 11201.3859 FINANCIAL TRUST CO INC STATEMENT PER00 OCIODD 30.2034 110000.4 NOTtorbeT 30.2004 ACCE4PIT TA.ATIA-R TAXPAYER µ/0ER On FT. LAST sTATYRERT Oaceer 29. 2004 EFTA01320920 En I8 IJ H.) H.) 0 -n C in r PELOSE00-019-ANGS BEAR STURNS OFFICE SERVICING YO,JR ACCOUNT Seer. Stearns & Co. Inc. 383 MadrSon Avenue Now York. Now York 10179 10 e•.5 Transaction Detail (Continued) INTEREST (cceltinued) CLEARED WRIOUGH ITS witty 004403 SIAIRCVAY law. Sewn Stoats ORR DN 14anter.b C4n1v Wei Ircoltr. Na volt 11201.3140 FINANCIAL TRUST CO INC stemma PERKO Octoter 30.2004 THROUGH Nenernber 30.2004 ACCONT NURSER THRPHYDI mimed On Fie UST STATERENT OCtOter 29.2004 OAtt C(30ISTION SYMIOUCISP apeaw. RAIL IN .0.93LW MOO Avow 11/15/04 FEDERAL TICATE LOAN MTG CORP 313920500 1.0000 20.39923 SEEMS 2471 CUSS Yt DUE 031152032 1.000 INT R/D 10-04 ND 11.1504 REPO P 4 I 1.0000 11/15/04 FEDERAL HOME LOAN MTG CORP 31392T6E2 4.9100 80.788.57 SERFS 2483 Cl. St. DUE 03/15/2032 4.910 INTEREST PAYMENT 11-15-04 11/15/04 FEDERAL HOME LOAN MTG CORP 313921/32 5.9100 62.938.37 SERIES 2488 CUSS SC) DUE 03/15/2032 5.910 PIT RID 1004 P/011.1544 RCMP al 01307 11/15/04 FEDERAL HOME LOAN MTG CORP 31393FAF3 5.3100 75.806.71 SERIES 2530 CUSS SE DUE 02/15/2032 5.310 INTEREST PAYMENT 11-1504 11115/04 FEDERAL HOME LOAN MTG COPP 313931936 4.9100 39165A2 SERIES 2528 CLASS SI WE O2/15/2032 4.910 INTEREST PAYMENT 11.15.04 11/16/04 GOVERNMENT NATIONAL RTC ASSN 38374FCM4 5.3110 182.594.29 SERIES 2004.2 CUSS SR OUE0111V2034 5.311 NT RA) 11-04 MD 11-18-04 REPO P I 5.3112 11/17/04 FEDERAL HOME LOAN MPG CORP 31392R6U0 1.0000 20.39923 SOO- 2471 CLASS Yr CITE WITS/2032 1.000 REV ENTRY NO 11115 11/22/04 GOVERNMENT NATIONAL MTG ASSN 38374FDB7 5.0400 184.80100 SUES 2004-5 CLASS PS DUE 02/2012033 5.040 en RA7 10-04 PAT H-2004 REPO P aI 5.0400 027 12.0104.14:42 001 SSA EFTA01320921 rn 8 IJ IJ IJ z m C in z r SELOSE00- 019- ANGS BEAR STEARNS OFFICE SERWCWG YOUR ACCOUNT (Mar. Steams ,S Co. Inc. 383 Madison Avenue Y N Y 10179 11 ea Transaction Detail (continued) INTEREST (continued) 0.PARCO 71.0409441 01 4.041.1.4 01141,0 31.14SCARY fru %urn swop O44A Ov 0.10nrach CAW Morn 110110. Ma Tort 11711-31152 FINANCIAL TRUST CO INC STATtweir 010000 0440001 30.205E THROuGm 447:00nDer 30.200E A.4.11.1/T siAMER TAXAOIR 40.011/1 On Ng LA47 STATE114.1 October 29.2004 DAN OESCOSIPTION P1.031/0.4. 011401011 nn119 OEM MOM CAW? 04.40430 11260E FANNIE MAE [MO/SERIES 2003.13 31392/062 6.8810 147,441.74 S RCR40 FUR NC 03125/2033 6.981 MEREST PAYMENT 11-25-04 11/26/04 FEDERAL NATIONAL MTG ASSN 31393C2C6 5.8810 62.043.35 SERIES 2003-19 CIASS SW DUE 01/25/2033 5.981 MEREST PAYMENT 11.25.04 TOTAL 1.20.650.93 5826.954.68 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear,Steams& WITIDALNI TRNW DATE DATE 1101.144C101 COMM, SYMEOLKUSIP OIAWITN Mart mow 11/03/04 RECEIVED UNITED STATES TREASURY NOTE 912828CY4 25.000,000 25.031.250.00 M1071/2006 2.500 2500 DUE 10/31436 FIN F3080818 Al RESALE EMMERT MEM MOUVT 11103/04 DELIVERED UNITED STATES TREASURY NOTE 912828CW8 -25.000.000 25.000.000.00 CUE 09/30/2006 2.500 2.500 CUE 09/30/06 ATM F2790522 A2 TERM RESALE AGREEMENT 11/03/04 INTEREST UNITED STATES TREASURY NOTE 912828CW8 28.392.36 COE 09/30/2006 2.500 FILM F2790522 42 RESALE INTEREST 11/1204 JOURNAL FEDERAL. HOME LOAN MI6 CORP 31392R6U0 24,477,870 SERIES 2471 MASS Yr 1000 , DUE 03/15/32 FrDANIGN F0953142 AZ TERM REPO AGREILIFIrt CQ7 12.01104:1412 Gal VISSA EFTA01320922 r71 8 IJ 1.2 1.2 0 -n C in r 9ELOSEOCIA19- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Sear. Steams b Co. Inc. 383 MMISOn Avenue New Tort New York 10179 12 c.• Transaction Detail (Continued) REPURCHASE ENO REVERSE REPURCHASE TRANSACTIONS (continued) SITIIDADIT 19401 0412 CATE TRMSACTKP4 Of.SCRPTION 11/12/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERES 2004-5 CLASS PS 5,040 DUE 02/2003 FMA F3003198 AZ TM REPO AGREEMENT 11/12/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN SIRES 2034-5 CLASS PS 5.040 DUE 02/20/33 WM F3173215 Al - REPO AGREEMENT 11/12/04 JOURNAL GOVERNMENT NATIONAL MTG /ISSN SERIES 2084-5 CLASS PS 5040 DUE 02120133 FRM 13173215 A2 REPO AGREEMENT 11/12/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERES 2004.5 CLASS PS 5.040 CUE 02/20/33 RFITIA 13173 AGREEMENT 215 A3 EPO 1112/04 DELIVERED UMTED STATES TREASURY NOTE Cut 0615/2007 2.750 z75/3 DIX 08/15/07 FILM F2710662 A2 TERM RESALE AGREEMENT 1112/04 INTEREST GOVERNMENT NATIONAL MTG ASSN SERIES 20045 CLASS PS cut 02/20/2033 5.040 ATM 13003198 AZ Tin2/04 REPO MEREST INTEREST METED STATES TREASURY NOTE out 06/192007 2.750 film 12710682 A2 RESALE MEREST CLUMP 7144000H ITS .wait 01440 844.1u2outy 8ex. Starts Seculan Cap. Cne *wan Cots Werth firoali44 We. Yen 11201.3859 FINANCIAL TRUST CO INC STOININT PectiC0 0C1000. 30.2004 nwouom 74,4embee 30.2004 40004147 Mama TA4P44134 1.411.46t On rile LAST STK:7MM 0000e. 29.2004 SvPOBOLICUS, gW111Y Dag MOM CRiOn MOM 38374FDEO 44,000.000 5.363.000.00 3837410437 .44.000.000 5.623.0:0.00 383741:437 44,000.000 5,623,000.00 383741087 44,000.000 5.623.000.00 912828CR9 -15.000.000 15.037.500.00 383744087 5242.33 912828CR9 28.496.06 027 14.01.041442 001 VIM EFTA01320923 rn 8 IJ [J. IJ .13 0 m C m H r LELOSE00- IND- ANGS 11/18/04 BEAR STURNS OFFICE SERVICING CUR ACEGONI Bear. Steams b Co. Inc. 383 maisoi men.* ,3 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) SETTIEWEIET OATE 11/16.04 MADE CAVE CCSOOPTION JOURNAL GOVERNMENT NATIONAL SING ASSN SERIES 2034-5 CUSS PS 5.040 DUE 02120/33 FILM F3213185 Al REPO AGREEMENT mecum.. 383741087 OLLTMMY .44.000.030 Ow MnU =ARM TITROuni ITS nave Ong AISSIXTRY Int non Danes 03. Dre MarenD Conn nen Ws Yen 112014179 FINANCIAL TRUST CO INC STATEMENT 040140 ODOOSE 30.2004 ThROLICIM Remember 30. 2004 AOCCURT WRIER TAXPAYER WSW On He 1,µT STATEMENT OCIOber 29.21304 CREDIT /MOOR 3.675.000.00 JOURNAL GOVERNMENT NATIONAL MTG ASSN 36370-097 SERIES 2034-5 CUSS PS 5.040 DUE 02/20/33 FM F3173215 A4 TERM REPO AGREEMENT 44000.000 6.623A:03.00 INTEREST GOVERNMENT NATIONAL MTG ASSN 3637.0067 SERIES 2034-5 CLASS PS DUE 02/2012033 5.040 HIM F3173215 A4 REPO MEREST 1.436.99 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374F067 SERFS 2034-5 CLASS PS 5.040 DUE 02/20/33 FIIM F3213185 A2 TERM REPO AGREEMENT 44.0:0.030 3.675.000.00 11 /18/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374Ft:07 SERFS 20344 CLASS PS 5„040 DUE 02/20133 Fnm F3233174 Al REPO AGREEMENT 11/18/04 DEUVERED UNITED STATES TREASURY NOTE DUE 1031/2006 2.500 2.500 DUE 10/31/06 nnA F3050818 A2 TERM RESALE AGREEMENT -44000.030 4,000,000.00 912828CY4 -25.003.000 25,031,250.03 11/113/04 RECEIVED UNITED STATES TREASURY NOTE DUE 10131/2806 2.580 2.500 DUE 10/31/06 RDA 13230504 Al RESALE AGREEMENT 912828CY4 50.000.000 50.000.000.00 027 I2I01/04,14:42 COT DMA EFTA01320924 BEAR STEARNS OFFICE SERVICING YOUR ACCOLM Bear. Steams 8 Co. Inc. 383 Madison Avenue Now York. New Yc, ' 0179 14 n .e Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) -n SAIL AA AAA OAS OAS vin8/04 11/18/04 11/23/04 C in 11/23/04 11/24/04 r 11/24104 11/24/04 SELOSE00- 019- ANGS SVMATON OtSCIIPMS INTEREST GOVERNMENT NATIONAL MTG ASSN SERFS 2004-5 CLASS n DUE 02/2012033 5,040 RIM F321318.5 A2 REPO NTEREST INTEREST UNITED STATES TREASURY NOTE DUE 10/3b2006 2.503 Film F3080818 AZ RESALE INTERIM DELP/FRED UNITED STATES TREASURY NOTE DUE 10/31/2006 2.500 2500 DUE10/31/06 FITM 13230504 A2 TERN RESALE AGREEMENT INTEREST UNITED STATES TREASURY NOTE DUE 10/31/2006 2.500 FILM 13230504 A2 RESALE MEREST JOURNAL GOVERNMENT NATIONAL mTG ASSN SERIES 2004.5 CLASS PS 4,810 04X 02/20/33 Mei 13293248 Al REPO AGREEMENT GOVERNMENT NATIONAL MTG ASSN JOURNAL SERIES 2004 5 CLASS PS 4.810 DUE 00/20/33 RDA F3233174 A2 TERM REPO AGREEMENT INTEREST GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 04.5 02/20/2033 4.810 TIM 13233174 A2 WO Nimbi MGM= mt0VON ITS wsCur OMED BUSSIDIARY OA. Son StOJVAS Cap. Iltinean Cm" Ma" W /..../cet 112014969 FINANCIAL TRUST CO INC STOWS", ISISOID October 30.2034 TAOLM MAMA 30.2004 ACOMta "ASIR TAMA'S" MASER LAST STAITICIrt On Re October 29.200e MIASMAS' OMAN pO1 AMOS Mt WWII 383741087 469.58 912028CY4 13,600.31 9128280m .50.000.000 50.000000.00 912828CY4 1.777.78 383741087 -44,000,000 3,260,000.00 4.0 383741087 44.000.000 4.000.000.00 383741087 1,550.00 oat ISVIAt11:42 CM AAA EFTA01320925 CWA90 TT430‘04 ITS WTIMEE DeTT4D SuDSTOLTRY rn IS b.) IJ 0 -n z C in z -H r 6ELOSEOCIA19- ANGS BEAR STMRNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 363 Madison Avenue Non York. New York 10179 16 els Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) Stletalerr DATE 11/30/04 num OATE TILAASACIEN cescePron RECEIVED UNITED STATES TREASURY NOTE DUE 11/30/2005 2.875 2.875 DUE 'inns FINS F3350625 Al RESALE AGREEMENT SEMIKVCIATIT 91282B009 cu rn 50.000.000 CEBU &WOW, 50.000.000.00 W. Steams Setuitet Cap. Ono Lierata Cettn Montt et Nes volt 112014.19 FINANCIAL TRUST CO INC SIATEATENT nano October 30.2004 THROUGH Nowerter 30.2034 ACCOuxt 1..440LR flianyul warm On Fie LAST stAtemera Octets 29.2004 MEDD ATOOLM TOTAL 5-149.323.958.90 5137.322.016.51 MISCELLANEOUS DATE MOUT neurtamori 11/16/04 JOURNAL TOTAL 5.100.00 cESCAPrter OCT 04 SPEC CLEARING FEES CETr AATOWil 100.00 MOO AUCt/T1 STOP End of Statement 021 120104 14 42, ow meet EFTA01320926 -n C in r OPLOSEOCIA19- ANCIS BEAR STEARNS OFFICE SEROCING SLIVR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison AVONJO New Wyk Nevi lc.O. 10179 ACCOUNT EXECUTIVE GNMA GOVT BONO VISA OUR RELISH www.bearsteams.com What's in This Statement Il...11...lrrl.Il 1.1 Financial Summary 3 FINANCIAL TRUST CO INC You' Portfolio Holdings 4 CIO JEFFREY EPSTEIN Transaction Detail 7 6100 RED HOOK QUARTER STE 83 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio ea & & Equeibleml S134.019 TOTAL VALUE Of SECURITIES THIS PERIOD 11.588.059 S349.431 LONG ACCRUED INTEREST 105.741 End NET CREW BALANCE 334,039 Income Her sounv TNte PERIOD $12.027,839 NET EQUITY LAST STATEMENT 12.556.360 CHANGE SNCE LAST STATEMENT -528.520 There are no 'Stop Loss orders or other pending buy cc sell open orders on file for your account. S11.588469 MI Current market value Last statement's market vale 412.4:42.01, PORED 110293.4 ITS wage DATED SLISSIDMITY Bor. Sten Swards 9n. one Tmeauca Car North la Yell 11201.3854 FINANCIAL TRUST CO INC STAillitST PPM* OCIOW 1.2004 THILLNJON 0000t4 29. 2004 ACODIAN TAXPAVER NUMMI% On Foe LAST STATEMENT Septenaf 30. 2004 Ens sunny 41w okensteasi Mai Oa II b 09 Magas IL a. Samna This arra Cal Streama ar ratted. Sae Inn* We Sr rporlantiftwileffi 027 16,004.11 SE 021 Via EFTA01320927 CLEARED rmiK2421 %vicar 0+040 91.l90UM Sur Sums Staten cop. Cne 002cce0, Cam net totem. Nem rcel 112014559 FINANCIAL TRUST CO INC 2 EEVEZZOOV.L43 0 z m cim z H r TVLOSE00 V\19 ANDS STATEMENT BACKER IS PRINTED ON THIS PAGE 017 1000001:50 031 vs. EFTA01320928 BEAR STEARNS OFFICE SERVICING YOUR ACCOtart Boar. Stearns & Co. Inc. 383 Madison 8831387 New Vol, New vcA 10179 0 0 3 au Cash Flow Analysis DIS sta00 Income Summary tic 8000 708410 005 opening Balance SecurgleS Sold Dfridextfinterest Amount Credited SecurRies Bought 5349.430.55 150.542.411.97 861.588.48 3151.404.000.46 -151,238.763.30 U.S. Govt. Bond IM. Gent Agency Int. Cup. Bond Int. Credit Balance Int. Reverse Repurchase Int. Total 6,868.13 702.222.04 152,338.86 159.45 11.581.79 5873.170.27 375.363.60 8.568.849.54 1,870,249.99 1,022.46 252.348.22 511,067,833.81 Funds Withdrawn -71,518.00 Bond Purchase Int. -55.766.57 -1,168,313.77 t l DisildendsAnterest Charged -55,766.57 Margin Mt. Pad 0.00 -1.770.70 C Miscellaneous .53,343.75 Reptrthase Inc. Exp. -47.341.42 -209.085.33 rn Amount Debited 1-151 419 391 62 Net Cash Acthity -15.391.17 Portfolio Composition Closin9Balance 5334.039.38 CasniCash Equvalent 334.039 Fixed Income 11,588,059 r Cash Balance Summary Total $11,922,098 ZPLOSE00- 019- ANGS IJ IJ WING ahem 349.430.S5 334,039.38 Net Cash Balance $349.430.55 3334,039.38 027 /8300811 SO 031 CsEmEO tit rrs *MOLLY 0101•813 U8S108.115. MY Stan Seunlan Cap. One Women Cams Math boa885 M. Yet 11201.3859 FINANCIAL TRUST CO INC STAT0111,1T num October 1.2004 111110004 October 29.2004 ACCOP.Art TO:PAYER HOWER On Fie LAST sr Meer Sestets/se: 30.2004 Your Portfolio Allocation Cash S. Gathalent- 2% L Feed Income 98% 12-redee melees Orele C•91 78.w andtv Wen •hla.. M.duo, Plrapetapo 8.8.91 .59, Pe *teases market *SA of 99... eadela t4 EFTA01320929 C) 0 m C rn r EPLOSE00- 019- ANGS IS b.) La b./ La BEAR STEARNS Cf FICE SERYCING YOUR ACCOUNT Beet. Stearns & Co. Inc. 383 Mattson AMNIA New York. New 'Ark 10179 4 or ie Your Portfolio Holdings CASH & CASH EQUIVALENTS OISCRPON CASH BALANCE TOTAL CASH & CASH EQUIVALENTS Warne MC( Wan, ESTIMUTO CAREW VOLE TIME WIXOM MD IND 334.039 5334.039 FIXED INCOME at THICNON as may, Oman 0010tritt Ner. Shan Sawa. Cage t theretedi Carter Non troder. Nov Vat 11201.109 FINANCIAL TRUST CO INC VARMINT POTOD OCOOtr 1. 2004 1490U0 Orator 29. 20)4 ACCOUNT haat TATTPAYER WINER On Fla LAST STATTNOTT SKterNor 30.2004 Government & Agency Obligations OTSCRITION 01.03.CuOr ACCT OPT GUMMY NEE TatA01 MUT ACCRUED la= ISTMATIM IMAM WOO* CURRENT YEW TIO FEDERAL HOME LOAN MTG CORP 31393FAF3 LIRGN 16,449.919 9.4102 1.547.969 35.376 909.681 58.7861 SERES 2530 CLASS SE DATED DATE 10/1102 BOOR ENTRY ONLY DUE 02/15/2032 5.530% FACTOR - .27416532 FEDERAL HOME LOAN MTG CORP 31393FGB6 MRGN 7.056.240 8.5794 605.386 14.078 361.985 59.7941 SERIES 2526 CLASS 51 DATED DATE 1010102 BOOK ENTRY ONLY DUE 02/15/2032 5.130% FACTOR - .27416531 FEDERAL NATIONAL MTG ASSN 3136FALQ1 MRGN 4,041.482 84.9063 3.431.471 3 40 0.0012 STRW MEG SERFS 322 CL PO DATED DATE 03/01/02 BOOK ENTRY ONLY OUE 03/01/2032 .001% FACTOR - 1.00000000 FEDERAL HOME LOAN MTG CORP 3139216E2 MRGN 14.214,402 8.1195 1.154,131 28.358 729,199 63.1818 SERIES 2483 O. SL DATED DATE 07/0202 BOOK ENTRY ONLY DUE 03t15/2032 10% FACTOR —.24641446 eat 10/3004:11:10 001 EFTA01320930 rn 8 b.) b.) $'• 0 -n C rn r trI7LOSE00-019-ANCIS BEAR STEARNS OFFICE SERinCiNG YOUR ACCOUNT Bert. Stearns & Co. Inc. 383 Mateson Avenue New %at. New York 10179 5 a Your Portfolio Holdings (continued) Government 8 Agency Obligations (continued) CESCRIPTER SliAtO/CL6n. ACCT Comer MLl 144.007 VALUE ACCRLED tarRES7 ES110.1ATED ANNUAL PROW 0.45,00 ORO ra FEDERAL NATIONAL MTG ASSN 3139302C6 PARCH 14,692.061 9.1386 1.342.655 8.271 744.447 55.4459 SERIES 2003.49 CUSS SW DATED DATE 04/30,03 BOCK ENTRY ONLY DUE 01/25/2033 5.067% FACTOR a .60444343 Total Government& Agency Obligations 58.081.612 586.086 12.745.352 Corporate Bonds /CC ACCRUED ESMArt0 CJIMPO 043CRIPDC4a SYVBCVCUSS. iwE OUNRCIY P WSW YARN narleSt *Met UWE rat> C% FANNIE MAE CMO/SERIES 2003.13 31392/1782 IARGN 29.160.294 12.0247 3.506.447 19.655 1.769.155 50.4543 RCA.V0 FUR DATED DATE 02/25/03 BOOK ENTRY ONLY DUE03/26/2013 6067% FACTOR - .58320590 Total Corporatc8cr, 53.506.447 519.655 51.769.155 TOTAL FIXED INCC 511.588.059 5105.741 54.514.507 CLEARED twatOUCH wiRtLY ~CO LAMS fa Sewn Swats Cow aaa.seutllamecog Cs tee . Kt. Yon 11201.3639 FINANCIAL TRUST CO INC PATEPAINT PORCO Ocbaber 1.2004 1/00001/ Octaby 29.2004 ACCOuNr mike 1.04404/2 Ruben On Flo LAST STAMEN? Saptemtes 30.2004 YOUR PORTFOLIOHOLDINGSACCRUED INTEREST 5105.741 YOUR PORTFOLIONOLDINGSESTIPAATED ANNUAL INCOME S4.514.507 YOUR PRICEDPORTFOLIOHOLDINGS 511.922.098 02? 10'3004:+1'.50 001 v864 EFTA01320931 rn IJ IJ Sa. BEAR STEARNS evict SERViOnG YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Matson Avenue Now v 10179 6s.. Repurchase and Reverse Repurchase Transactions with Bear. Steams& Co. Inc.outsta ndlng 38 of date of statement MIMED WOW. n INIC.O' WED SLISOWY. Doe &WS Sea.Mos Ore MOW. Cr* Nalh CY New let 11201.359 FINANCIAL TRUST CO INC STATEmENT PEROG OCIODOf 1.2004 nssoson OCtOber 29.2004 ACCOJIO htPAOLlt TAXPAY01 MAW On Re SlrEUENT SL.0(WnDir 30.2004 PulOU41/ START WE WOWS( DOTE PRCOG MI WOOS, POCV "WW1 ACCWO REPO MOIST* 094149TI BALE MOM OW CESCAOTCW YOU PROVIDED FEDERAL HOME LOAN MTG COPS (MARGIN) 09/15/04 OPEN 0.000 .50.000.000 313927/32 SERIES 2488 CLASS SO 6.1300 03/15/32 0 YOU SOLD (REPO) 10/12/04 01/10/05 2.260 -9.476.000 -11.900 -50.000,000 3128CVUG7 FHLMC•STRIP PRINCIPAL ONLY -n YOU SOLD GOVERNMENT NATIONAL MTG ASSOC (REPO) 10/1004 OPEN 0.010 -1 .44.389.962 38374FCM4 SERIES 2004-2 CLASS S 5.3113 01/16/34 rn YOU SOLD (REPO) 10/26/04 11/12J04 2.070 -5.363.000 4.850 -44,000,02•3 38374H:437 GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-5 CLASS P 5.040002/20/33 YOU BOUGHT USTR 2.750006/15107 (REVERSE) 09.27/04 OPEN 1.600 15.037.500 21.950 15.000.000 912828CR9 YOU BOUGHT USTR 2.5000 09/30/06 r (REVERSE) 10/05/04 OPEN 1.250 25.000.000 26.309 25.000.000 912828CW8 TOTAL REVERSE REPURCHASE TRANSACTIONS 540.037.500 548.259 TOTAL REPURCHASE TRANSACTIONS 5-14.841.001 5.13.750 SPLOSE00- 019- ANGS SSW. CIS 027 'OXON ' 1,4 'kV A EFTA01320932 0 -n C in r 9PL0SE00- O19- ANGS I8 b.) IJ 1.4 00 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383M8Cisen Mem:8 7 a • 4 STsinefir 'MOD OCIOTS 1.2004 THROUGH Octets 29.2004 Transaction Detail ACCOUNT PiMa TWAYIER NIMES Co Ft INVESTMENT ACTIVITY LAST srmywrier Sapient's 30. 2004 GLEAM WOW.. ITS vmets.v &MAO $uliSIOvRY Bar Sion SocuiDis Ono hientws COMM' 11010 11201411SO FINANCIAL TRUST CO INC SETTAMIXT MAU 051E DATE 1111164C0311 OESCLIPTEN ST/ADOUOSIP Waft PRIZE 0011 MONT CREW AVOW 10/04/04 10101/04 BOUGHT UNITED STATES TREASURY NOTE 912828CU2 26.000.000 99.57031 24.892.576.13 DUE 08/31/2008 02.375% FA 28 ACCR M. 55,766.57 0938016192099 YIELD 2.607%10 MATURITY EVER REF a 02751004 Al 10/04/04 10/01/04 SOLD UNITED STATES TREASURY NOTE DUE 09/302006 02.500% MS 31 0988016192099 TED 2.642% TO MATURITY GVER REF • 02751011 Al 912628CW8 .25,000.000 99.72656 24,931,640.63 ACCR. INT. 6.868.13 10/05/04 JOURNAL UNITED STATES TREASURY NOTE 912828CW8 45.000000 25.006000.00 ID) REPO NO 10.4 2.500 DUE 09/30106 10107/04 POICIPAL FEDERAL NATIONAL MTG ASSN 3136FALCI1 413,439 STRP MTG SERIES 322 CL PO 0 001 CUE 03/01/32 PITINCAPAL REDUCTh 10-25-04 10/13/04 WIRED CALL TSY 43/4 mai 9272250 -25.000.000 EUROCALL STRE 1014 EP 104)8/2004 10/14/04 09/08104 CANCEL SQL FNMA-30YR(FNMA)GTD 5/403009 10.000.000 101.31250 10,131,250.00 SEMIODA DUE 10/01/2034 05.500% 0987000510332 REF a 2004090857720030 BS AS OF 09/03/04 TO Cm PREVIOUS SELL 10/14/04 09/22/04 BOUGHT FNMA-30111(FNMA)GTD 5040009 10.00.000 101.83594 10,183,593.75 SETT.10174 CUE 10101/2034 05.500% 0987021011332 REF # 2004092257610000 BS 10/14/04 09/08/04 SOLO FNMA.30YR(FNMA)GED 5.080009 .10.003.000 101.31250 10,131,250.00 SETT.1004 WE 1001/2034 05.500% 0947000610332 REF 0 2004090857720000 8$ 027 100004.13110 001 VIM EFTA01320933 awes nieb-Gri rtR w"0.\, CANSO SLIISCRAV 0 -n C rn r LPLOSE00- 019- ANGS BEAR STEARNS OFFICE samcsoc YOUR ACCOUNT Bear. Steams & Co. Inc. 383 lAa6son Avenue New York. New York 10179 S el 14 Transaction Detail (continued) INVESTMENT ACTIVITY (continued) MITUMOir 100( DATE DATE litua3A01,4 10/14/04 09/22104 CANCEL WY FNMA-30YMENNIA)G11) SA80039 .10.000.000 101.83594 10.183.593.75 SET1.10-04 CuE 10/01/2034 05.500% 0987021011332 REF * 2104092257810000 BS AS OF 09/22/04 TO OIL PREVIOUS BIN DESOMMA 5772007023:2 1.1•RoSch Oslo Nam MOOR% Me • GA 112014859 FINANCIAL TRUST CO INC STATERE.4 PODOO C810091 1,2004 THROUGH Oclawf 29.2004 Accaser MASER TAXPAVIR NWSER GO File LAST STAMINT 5.011121:41 30.2004 Clown MICE DEW AsKuvi CREW AKOM 10/15/04 maim. FEDL HOME LOAN MEG CORP*S02684 3128CVUG7 285.408.50 SERIES 218 Cl PO OM 02/01/32 PIM R009-04 P010.15-04 REPOP a I 0.0000 10/15/04 PRINCIPAL FEDERAL HOME LOAN 106 CORP 3139216E2 -390,730 SERIES 2483 CL SL 5.130 0.V15/32 PRICIPDUE AL RECOCIN 10.15.04 10115/04 PRINCIPAL FEDERAL HOME LOAN MEG CORP 31393FAF3 -372.599 SERIES 2530 CLASS SE 5,530 DUE 02/15/12 PRINCIPAL REDUCTN 10-15-01 1011504 ORMCIPAL FEDERAL HOME LOAN MTG CORP 31393F088 -159.828 SERIES 2528 CUSS SI 5 130 CUE 02/15/32 PRINCIPAL REOUCTN 10-15-04 10/20/04 JOURNAL FANNIE P.ME 0.40/SERIES 2003.13 313921082 2 S RCR4I0 FUR 8,180 DUE 03/25/33 ADJUST POS 10125/04 PRINCIPAL FEDERAL NATIONAL MTG ASSN 3138FALQ1 113.439.30 S1PJP MTG SERIES 322 O. PO 0 001 WE 03/01/32 DEMME PAYLEPET 70-2544 10/25/01 PRINCIPAL FANNIE MAE 0.40/SERIES 2E03.13 313921082 -518,108 RCR.80 FLTR 6.160 CuE 0125/33 PREICIPAL REDUCTN 10-25-01 027 UM/04:110D 601 flea XXX EFTA01320934 CLEARED TØ TTS »as ~RO aseaCeav rn 8 IJ O IJ -n r SPLOSE00- IA19- ANGS BUNR ST RNS OFFICE SERVICING YOUR ACCOUNT Daa& Steams & Co. Inc. 383 Meda«, Avenue New Nek. New va,. 10179 9 4,14 Transaction Detail (contInued) INVESTMENT ACTIVITY (444000440 SMURD« DATE 10/25/04 TRAM DAtt ~new PRIL:IPAL MORMON FEDERAL NATIONAL MIG ASSN SERES 2003-49 CUISS SW 5.160 DUE 01/25/33 aRatOPAt REDUSTN 10.25.04 • 3',:,.2.2C6 RVANlin •2&0.033 ba. Sirs ~Ia Corp. GR venta Cain Noe borer Na [fl 20 MO FINANCIAL TRUST CO INC STEllitra PER,00 Ocloter 1.2004 TwROIS. Cctoter 29. 2004 Alt , n7 ~ER TAXPAYIA ~OCR Dn Ne LAS? STAIlkert Se;ternter 30. 2004 PMCI Oter, 4901.2.9' GRUNT AMOUR, TOTAL 1.45,263.188.4 ': 520.852.198.31 DEPOSITS AND WITHDRAWALS UTE 1007/04 END WIRE° ?JAA/ GV148208ENDSWIRED T0 FLEET NATIONAL BANK AC2387604020 01246378 TOTAL IRMSACTICel DESOWTOR 311 ...10.11C 71.518.00 I 71.518.00 INTEREST amt OCIttenta 10101/04 AVG BAL 213.777RT 0.895 021 OFFICE INTEREST 0904 SYL/80000SP RATE <IQ DEMT AMOR, GROMT ~ff 10/15,04 FEDERAL HOME Lom MEG CORP SERIES 2471 ciAss Yr OVE O3/192032 1.000 NT R/D 09-04 IND 10-15434 REPO P &I 1.0000 10115/04 FEDERAL HOME LOAN MIG CORP SØTES 2483 CL St DUE 03/192032 5.130 PITEREST PANIAENT 10-15-04 31392R5LIO 1.0000 159.45 20.958.94 3139205E2 5.1300 63.775.74 027 19930.9140 COT EFTA01320935 0 -n C rn r 617LOSE00- 019- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Simms & Co. Inc. 383 Madison Avenue New Yak Nem Y 10179 10 et la Transaction Detail (continued) CLEARED mitotic. ITS swain' ;NNW StaSOARY but SWEPT Seaton Coo Me Jactrapch Car Ater ProokAn. INA Yak 1120/4880 FINANCIAL TRUST CO INC SIAM/EAT PERKX) WOW 1.20`04 THROUOM October 29.2004 ACCOUNT NIANIER TAXPAYER Mama On fro INTEREST (contalued) LAST STATEMPO September 30.2004 OAR DESCRIPTION SnalCucus. Ewer RATE OR cart mourn (NOR MOUNT 10/15/04 FEDERAL HOME LOAN AUG CORP SERIES 2468 CLASS SO 31392T132 6.1300 65.828.89 DUE 03115/2032 6.130 INT RA) 09-04 P/D 10-15-04 REPO P t I 6.2400 10/1504 FEDERAL NOME LOAN MTG CORP SERIES 2530 CUSS SE 31393FAF3 5.5300 79.065.84 DUE 02/1542032 5.530 MEREST PAYMENT 101544 10/15/04 FEDERAL HOME WAN MTG CORP SERFS 2526 CLASS Si 31393FGB6 5.1300 31.510.16 DUE 02/15/2032 5.130 INTEREST PAYMENT 10-1504 10/19/04 GOVERNMENT NATIONAL MEG ASSN SERFS 2004-2 CUSS 58 38374FCM4 5.3110 188,367.64 DUE 01/16/2034 5.311 trt 9,0 10.04 RD 10-16-04 REPO P 6I 5.4212 1012004 GOVERNMENT NATIONAL MTG ASSN SERIES 2004.5 CLASS PS 38374F1)87 5.1380 188,420.83 COE 02/20/2033 5.138 INT RIO 09-04 P/D 102004 REPO P 6I 5.1387 10125/04 FANNIE MAE CMO/SERIES 2003.13 $ RCR4/0 FUR 3139240142 6.1600 152.338.86 DUE 0305/2033 6.160 INTEREST PAYMENT 10-25-D4 10/25/04 FEDERAL NATIONAL MTG ASSN SIRES 2003-49 CLASS SW 31393=8 5.1600 64.294.00 DUE 01/25/2033 5.160 INTEREST PAYMENT 1025-04 TOTAL $856,720.35 021 ICVXAD4 11 SO 001 10164 EFTA01320936 rn 8 b.) 10 IJ IJ 0 F I C in r OSLOSE00- 019- ANCIS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 303 Waco Avenue New Yak. New Tat 10179 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Etear,Stearns& Co.Inc. SIT0DADIT TRUK 04n an OWISCION 01.30040011 SVUEOLOCUSP 0.0.140Tv Mail E.YOUX1 CRUX MWJI 1010004 DELIVERED UNITED STATES TREASURY NOTE 912828CU2 -25.000.000 25.062.500.00 DUE 09/3112000 2.375 2.375 DUE mamas Fnm F2670490 A2 TERM RESALE AGREEMENT CLEARED IntOuGai ve40‘.. 04.400 14.40vA, Br. San Socinlos Ore Ihnietio Cott Eau 11301.3859 FINANCIAL TRUST CO INC STA,IghT KR)00 00044. t 2004 noR01:4. 000Cef 29.2004 AOCaNT MAISCR TAXOAVER %UMBER On rile EE E &Veit& 30. 2004 10/04/04 INTEREST UNITED STATES TREASURY NOTE 912828CU2 10.519.29 DUE 013/31/2006 2.375 RIM 12670490 A2 RESALE MEREST 10/05/04 RECEIVED UNITED STATES TREASURY NOTE 912828CV/9 25.000.000 25.000.000.00 CUE 09130/2006 2.500 2,500 CUE09130M FITL1 F2790.522 Al RESALE AGREEMENT 10/06/04 JOURNAL UNITED STATES TREASURY NOTE 912828CW8 25.000.000 25.000.000.00 ADJ REPO NO 10-4 2.500 DUE 09/30/06 10/05104 JOURNAL UNITED STATES TREASURY NOTE 912828068 25.000.000 25.000.000.03 ADJ REPO AO 10-4 2.500 DUE 09130/06 101015/04 INTEREST UNITED STATES TREASURY NOTE 912828CW8 1.062.50 DUE 09/302006 2.500 REV REPO INT. NO 10,5 10/07/04 JOURNAL UNITED STATES TREASURY NOTE 912828CW8 .25.000.000 25.000.000.00 ADJ REPO 410 10.4 2.500 DUE 09/30,313 10112/04 JOURNAL FEDL HOME LOAN PEG CORPIS02684 3128CVUG7 12.800.430 7.320.000.00 SERIES 218 CL PO DUE 0201/32 FILM 12583256 P2 TERM REPO AGREEMENT 70/12/04 JOURNAL FEDL NOME LOAN MTG CORPPS02684 31280VUG7 -12.800.430 9.478.00000 SERIES 218 CL PO DUE 02)01/32 RIM F2883213 Al REPO AGREEMOrt On 10,104:1140 001 Si EFTA01320937 In IS IJ 43, IJ -n C in r ISLOSE00- 019- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue Mir 10179 12 Nu Transaction Detail (Continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) SPRIMOlt TPAOC CAVE pm ntracnoti CICSCROIMII 10112/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004.2 CLASS SB 5.421 DUE 01/16/34 rem F2653155 AZ TERM REPO AGREEMENT 10/12/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 9.52ICS 2004-2 CLASS SB 5.421 DUE 01(103/3A FIDA P2463215 Al REPO AGREEMENT 10/12704 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 5.138 DUE 02/20/33 RDA F1913154 A.2 TERM REPO AGREEMENT Ton 2104 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004.5 CLASS PS 5.138 DUE 02/20/33 MN F2863217 Al REPO AGREEMENT 10112/04 MEREST FED/ HOME LOAN MTG CORP/502684 3128CVUG7 11.272.80 SERIES 218 CL PO DUFTIME 02/D P2 1/2032 3256 AZ 0.000 54 REPO INTEREST 10/12/04 SYPAOOLCUSIP WARM 38374FCM4 41.895.396 38374FCM4 41.694396 38374F067 44,004000 3837,0067 41.004000 Dian Maul 2.816.000.00 =ARID ni90904 Wan* 0919.120 SUSSOARY BeR Szyms SeoslRet CoT Ow *town Cater I.icet Met yin 11201.3859 FINANCIAL TRUST CO INC STATIMINT PlinC0 °MOW 1.2004 niROuGH October 29.2004 ACCCONT YLVaen Wank NWSCR 01 Fie LAST STATIOMYT 989118114f 30.2004 ciNCO AM3UKI 3483.000.00 5.866.000.00 6294000.00 INTEREST GOVERNMENT NAD3NAL MTG ASSN 38374FCM4 2.940.37 SERFS 2004.2 CLASS S8 DUE 01/16/2034 5.421 DIM F2653155 AZ REPO MEREST 10/12/04 It4TEREST GOVERNMENT NATIONAL MEG ASSN 383742087 27.70470 SERIES 2004$ CLASS PS DUE 02/20/2033 5.138 FIT/A F1913154 Al REPO MEREST 027 160009.1190 C01 EFTA01320938 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Beer. Steams & Co. Inc. 383 Madison men.* New York, New Yen,. 0179 &3 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (calmed) MITLDaNT TRACE DATE DATE 10/14/04 0 10114/04 m 1004/01 C in 10125/04 10/25/04 r 1005/04 10426/04 ZSLOSEOCINDANOS I8 b.) b.) pA tRANSACtitel OTSCIernOsi JOURNAL GOVERNMENT NATIONAL MEG ASSN SERES 2004.2 CLASS SO 5.421 DUE 01/16/34 RIM F2883267 Al REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL WIG ASSN SUES 2004-2 CLASS 58 5.421 DUE 01/16/34 ERNI F28443215 At TERM REPO AGREEMENT INTEREST GOVERNMENT NATIONAL MTG ASSN SERES 20044 CLASS 58 DUE 01/16/2034 5.421 Film 12863215 A2 REPO MEREST JOURNAL GOVERNMENT NATIONAL MTG ASSN SIRES 20044 CLASS PS 5,040 DUE 0200/33 FRIA 12993307 Al REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL MEG ASSN SERIES 20044 CLASS PS 5 040 CUE 0 62/203217/33 RM 128 At TERM REPO AGREDAD/f MEREST GOVERNMENT NATIONAL MTG ASSN SERES 2004-5 CUSS PS DUE 02/200033 5.040 FRM 12863217 A2 REPO INTEREST JOURNAL GOVERNMENT NATIONAL MEG ASSN SERES 2004 S CLASS FS 5.040 OUE 02/20/33 FITM F2993307 AZ TERM REPO AGREEMENT CLEARED 7100L10.4 ITS wsa,.y Oman Sufic ...Ay Bev. Stein Swain Cap One 14evaecn Caw Math Na. Yon 112014859 FINANCIAL TRUST CO INC PEA,00 Watt 1.2004 Dift(Nro. OCIODe 29.2004 ACCOLKT %WES TAXPAYER WINGER On Tile LAST STATEuEin Sept.enta 30. 2004 5.0.19DUCOSIP ETUNITITY OM AVOW CRUM AmOLIn 38374FCM4 41,695,395 38374/0.14 41.695.395 3,683,000.00 3837410.14 423.55 38374F087 44,000.030 5.000.000.00 383741067 44,000,000 6,289,000.00 38374n387 4.706.50 38374F087 44,000.000 5,000,000.00 On 100694:11110 001 LENT EFTA01320939 ClEARED 111.1000/1 RS vacue Ove/E0 WISSOutfm ITS 8 b.) BEAR STURNS OFFICE SERVICING YOUR ACCOUNT Rem. Steams & Co. Inc. 383 Maclisps Avenue New Yak. New York 10179 14 al. Set Men Sautes Corp O.< Women Comer Atm r 11201.3859 FINANCIAL TRUST CO INC 0 -n Transaction Detail (continued) REPURCHASEAND REVERSE REPURCHASETRANSACTIONS (continued) senuwon TRAM out an TRASSACTON OLSOISPIION WIMP IXS1 Man, stionekir IMMO Weber 1.2004 necoon October 29.2004 AbytelT etweER TAX7AYIER /4.4e3ER On File LAST STATMENT September 30.2004 PRIOR AMOUNT 10/26/01 10/26/04 JOURNAL GOVERNMENT NATIONAL MEG ASSN SERIES 2004-5 CLASS PS 5040 DUE 02)20133 FM F3003198 Al REPO AGREEMENT INTEREST GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS DUE 02/202033 5.040 EOM F2993307 A2 REPO INTEREST 18371FG/37 38374F087 -411;00.000 287.50 5.363.000 00 TOTAL S-106.031.341.42 579.897.081.79 C in z MISCELLANEOUS tett UMW/ TIUNSWI13N ecsoancto DEBI Al/Ottil Maw maw 10/13/04 JOURNAL 10/19/04 JOURNAL ENMA.30YR(FPLIMA)GTO SETT.1004 5,530 DUE 100144 MSS NET 10/I 104 SEP 04 SPEC CLEARING FEES 52.313.75 1.003.00 r TOTAL $-53,343.75 ESLOSE00- 019- ANGS STOP End of Statemen On /3/30•04:114t) Mal EFTA01320940 En I8 IJ n.2 0 0 m C in r PSLOSE00- 019- ANGS BEAR STEARNS curia SERVICING YOUR ACCOUNT Bear. Steams a Co. Inc. 383 Madison Avenue New Yea New Yoh 10179 014RE0 ThROuCcm as VmOu awe StALSOARY Its. Men Undies Co One AAA Cerny WM Nen A 20 SASS MARCO& TRUST CO INC ACCOUNT EXECUINE GNMA GOVT BOND STATSMENT PEROO September 1. 2004 VISIT OUR WEBSITE www.bewstearns.corn TaCniGm September 30.2004 What's In This Statement ACCOUNT WINE TAXAVIR MAIM On no Financial Summary 3 FINANCIAL TRUST CO INC LAST STAIleVent Nye& 31.2004 Your Portfolio Holdings 4 CJO JEFFREY EPSTEIN Transaction Detail 7 6100 RED HOOK QUARTER Trades Not Yet Settled 17 STE 83 ST THOMAS VI 00802 Your Portfolio at a Glance TOTAL VALUE OF SECURMES THIS PERISO' 12,082.817 Cash & EquVelten Market Value of Your Portfolio 5349.431 3.48.513 LONG ACCRUED MEREST 124.112 Ett,0 S12.062.817 NET CREDIT BALANCE 349.431 Income II $12.6440413 Curtsy menet we NET EQUITY ma PERIOD $12.556.360 Lag gatemen's market yaks NET EOUITY tAS1 STATEMENT 12.890.765 C.ANGE SINCE LAST STATEMEM -334.406 'nee ASA AAA A er .ere woken *AMA fen A net AAA no A.• of /AAA A A W. Entery T% Arco There are no 'Stop Loss' orders or other pending buy or sell open orders on file fa your account. vs-wrye.), Moran el Arose RR tY sa YAM et •SA exempt Tut itetentrtIA4O4 be MSS Is ?Wawa. See reverse ilde for &gratin Marren 027 1601/04.077.9 p. 710 EFTA01320941 GLUM 1,00113.1 ITS %%are Owe Sei()My Ow Sows Wulies tap. One Merote:x Cerny licrth Bo P.m Yen 11201.3859 FINANCIAL TRUST CO INC 2 a•3 0 -n z C in z -H r SSLOSE00- 019- ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 021 1001.04:0749 011 v1183 EFTA01320942 StrEZZOO-V.Ld3 BEAR STEARNS CANCE SERVICING YOUR ACCOUNT Bear. Stearns IS Co. Inc. 383 Matteson Avenue New York New Voir 10179 so ir Cash Flow Analysis was POMO Income Summary .0 TUG ID DATE Opening Balance Securities Sold 348.513.49 283,252,102.46 U.S. Govt. Bond Int. Govt. Agency Int. Cap. Bond 1st 74.442.82 800,827.03 160.809.29 368.495.47 7.866.627.50 1,717,911.13 C) Dividends/nterest 1,036,382.90 Oa& Balance Int 303.76 863.01 0 Amount Credited Securales Bought 3284,288,485.36 .283.616.704.04 Reverse Repurchase Int. Total 76.976.15 31.113.359.05 240.76643 310194,663.54 Dividends/Interest Charged .183.444.56 Bond Purchase M. -183.444.56 -1,112.547.20 TZ F I miscellaneous ,187,419.70 Margin Ia. Paid 0.00 -1,770.70 Repurchase Int Exp. .33.024.35 ,161,743.91 C Amara Debited 5.283.987.568.30 in Net Cash Aahity 300.917.06 Closin9Balance 3349,430.55 Portfolio Composition Cast Cash Equtoient 349,431 Raul Immo 12.082,817 r Cash Balance Summary OYENT4 =SAO Total 512.432,248 _ 9SLOS£00 IN9 ANGS Margin 48.513.49 349.430.55 Net Cash Balance 348.513.49 3349.430.55 027 • GOIG407 40 CO, CLEARED DIONXICTI ITS wan' (WOO 'OSSUARY Oat Mtn Stones Cars Or MesUch Cats inst Orocitr. NO. Tok 11201.1”9 FINANCIAL TRUST CO INC STAMEN,' FER100 Swaney 1.200' TNEIGLION September 30.2001 ACCOuTIT WAN* TooTAYER whet On FM LAST STATE:ROST 0/1.9114 31.2004 Your Portfolio Allocation Cash & resivalent- 2% 1..TAtele: trans troll Pest trYwa Seer slo, nal* num 71.• ilS44141 Want's*S 01.44 My. ne natiat vela 0. W., >bible ‘Tot3 EFTA01320943 CLUED TAROu0A ITS AmOttv OvisCO SuSSOwee 0 ii C in r LSLOSE00- 019- ANGS I8 IJ IJ ve) BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Beat Steams & Co. Inc. 383 Madison Avenue New York. New Yak 10179 4 • Y Your Portfolio Holdings CASH & CASH EQUIVALENTS DISC0PrON CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $349.431 Srm000C-ESP WASS (SWAM> CURRENT CUAInTIV PM( YItUI mAtal NOM 7110 Iw 349.431 EQUMES Equities & Options ACC; IMPAET 13111100) CI. UT DI3CRIDON 3,1410.0a/V 117E OW/MY Mtn VAWE A*AJM. NOM YAW (%) CALL TSY 43/4 08/14 9272250 hIRGN 25.000.000 Unpeced EUROCALL SINN 1018 DP lOttv2034 Total Equities& Options SO SO TOTAL EQUITIES SO 50 FIXED INCOME Government & Agency Obligations Beet Si..',. SetmiO. Crp Oft IMICCal, Carew um bOc 14 NM Yea 112014450 FINA NCIAL TRUST CO INC STATPAP1T PEAWO Septernba 1. 2004 TROU3H September 30.2004 ACCecteT wheat DAPAvrA MAMA CIArde UST STATtutVi Aupat 31. 2004 ACCT ACM= Una= CURRIlit 01.30.11011 SYMBOLOJSIP ME Tawny PM( MOW YAWL SAWS? AMYL MOW YEW (A) FEDERAL HOME LOAN MTGCOR9 31393FAF3 MRGN 16.822.518 9.4056 1.582261 39.894 957.369 60.5064 SERIES 2530 CUSS SE DATED DATE 10'1 1/02 90:6 ENTRY ONLY DUE 02/1512032 5.691% FACTOR • .28037531 027 1001.04:07:0 C01 V843 EFTA01320944 =ARCO nova& as i.s.4OLLY OANED SLISSOar BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue 5 Your Portfolio Holdings (continued) Government 8 Agency Obligations (continued) DISORP110•1 swim/CUSP ACCT nvf CeSNITIY Pita .A.RW MIS ACCRutO DaTOEST amp= Natal OCCOM CURRUR TIOD(? FEDERAL HOME LOAN MTG CORP 31393F086 MRGN 7,216.068 8.5764 618,880 15,908 381.802 61.6924 SERIES 2526 CUSS SI DATED DATE 10.01P2 BOOK ENTRY ONLY DUE 021152032 5.291% FACTOR - .28037530 FEDERAL NATIONAL MTG ASSN 3136FALQ1 MRGN 4,154.921 82.8750 3.443.391 3 42 0.0012 -n 51RP WIG SERIES 322 CL PO DATED DATE 03/01102 8000C ENTRY ONLY 03/01/2032 .001% FACTOR - 1.00000000 C FEDERAL HOME LOAN MTG CORP 313927652 MRGN 14.605.132 8.1146 1.185.155 32.200 772.758 65.2031 in SERFS 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/1512032 5.291% FACTOR - .25318800 FEDERAL. NATIONAL MTG ASSN 31393C2C6 &CRON 14.952.094 9.6790 1.447.218 10.717 771.528 53.3111 SERIES 2003-49 CLASS SW DATED DATE 0413003 BOOK ENTRY ONLY DUE 01/25/2033 10% r FACTOR - .615141 5.426 Total Government& Agency Obligations 58.276 905 598.722 52.883.499 Bs. Stars Ssantirt Corp. One Ibrouxil cat &Olen Wm at 20 .1S$9 FINANCIAL TRUST CO INC sTATiliERT etitc0 Septienter 1,2004 outouca. Septerter 30.2006 Acs0OLNT NIMES TAKPAYEst Panel On Ale LAST sletwewr ergot 31.2034 8SL0SE00- O19- ANGS IS b.) Ja UN O O27 1001040749 myl VSS) EFTA01320945 BEAR STEARNS OFFCE SEWICING YOUR ACCOUNT Beer. Steams & Co. Inc. 383 nnacison Avenue New York, New York 10179 $ ar Your Portfolio Holdings (continued) Corporate Bonds eLLAREO THROVON vmcuy OA ED 9LOSIOWIT, Dar Steens SeCultics CCIP. a. Metcle0I Cele Irentl laarev 3999 FINANCIAL TRUST CO INC STATEMENT PPIDOO SeOleInSe 1.2004 1/4.0LCN September 30. 2D34 AOCCTUNT TAxPAYEA µHER On Fie LAST STMT./EST Auguu 31.2004 C) 0 m DESCRIPTION swax,cuso ACC' nit Walt/ PREY PARFET =PE ACCRUE() POMP ESIVATCO µM.14 &COME CUSRo EAT It 04 FANNIE MAE CMO/SERIES 2003.13 31392I0K2 S RCR4/0 TOR DATED DATE 02/25/03 BOOK ENTRY ONLY DUE03/292033 6.160% FACTOR . .59352801 Total Corporate8onds .V.RGN 29,676.398 12.8247 3.805,912 53.805.912 25,390 525.390 1.828.066 51.828.066 48.0323 TOTAL FIXEOINCOME 412.082.817 $124,112 44.711.565 C rn YOUR PORTFOLIOHOLDINGSACCRUED INTEREST S124.112 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME 54.711.565 YOUR PRICED PORTFOLIOHOLDINGS S12.432.248 r 6SLOSEOCIA19- ANGS Repurchase and Reverse Repurchase Transactions with Bear, Stearns& Co. Inc.outstanding as of date of statement OtAftattl SIAM OM REPURCHASE DATE PRICNC RATE PURCRASt MCP MRCS.; ACCRUED REPO NTERESP COPAIITY dia µCORD CUSP OFSCIESPnC•I YOU SOLD GOVERNMENT NATIONAL MEG ASSOC (REPO) 07/09/04 10/12/04 1.790 -5.866.000 44.500 -44.000.000 38374F087 SERIES 2004-5 CLASS P 5.1387 02/20/33 YOU SOLD (REPO) 09/14104 10/12/04 1.980 -7.320,000 4,844 -50.000.000 3128CW67 F N L M C • STRIP PRINCIPAL ONLY 021 1001.43t07:40 CO1 Yen EFTA01320946 CLEARED THROUGH ITS *VOLLY IRO EASSIYARY rn 8 IJ if IJ IJ BEAR STEARNS OFFCE SERVICING YOUR ACCOUNT Bear. Steams & Co. ex. 383 Madison Avenue New Yak. New York 10179 7 a .7 Repurchase and Reverse Repurchase Transactions (continued) with Bear,Steams& Co.Inc. outstanding as of date of statement (continued) Rear. Son Stones Cam OY litereeeM Center Keen Ain Tot 112014038 FINANCIAL TRUST CO INC STMtIIEW7 WOOD September 1.2004 11.010J0.1 September 30.2004 ACCOLNI TIJOAKR NteMER CO Feb UST STAitlieWT Au9W 31.2034 PUFONSO RERIPEWASE RICK STMT DATE DATE RAZE PUROOSE wecv PRPICPAL ACCRUED REPO MEREST' OUNOTTY RACE &MOM) CUSP CCSOMMOR YOU PROVIDED FEDERAL HOME LOAN LUG CORP (MARGIN) 09/15/04 OPEN 0.000 40,000.000 313921132 SERIES 2488 CLASS SCI 6.291303/15132 YOU SOLO GOVERNMENT NATKINAL IATG ASSOC (REPO) 09/21/04 10/12/04 1.790 -2.816000 -1.400 -44.389.962 38374F044 SIRES 2004.2 CUSS S 5.421301/16/34 -n YOU BOUGHT (REVERSE) 09/23/04 OPEN 1.400 25.062.500 7,532 25.000.000 912828012 USTR 2.375008/31/06 C rn YOU BOUGHT (REVERSE) 09/27/04 OPEN 1.440 15037,500 2.163 15.000.000 912828CR9 USTR 2.750008/15/07 TOTAL REVERSE REPURCHASE TRANSACTIONS 540.100.000 49.695 TOTAL REPURCHASE TRANSACTIONS 5.1 6.002.000 5-32.744 r 09LOSEOCIA19- ANCIS •AA O ono — Transaction Detail INVESTMENT ACTIVITY SETWID0 WOE OAR DOE 194)IIACTIN MERVIN 09/02/04 08/30/04 BOUGHT ASa0ltusP OVAWrirr PRIE CEEIT AMOLN7 Cinee would! CALL TSY 4 3/4 08/14 9172250 25.000.000 0.67579 168.945.31 CORDONS STRK 101.8 EV 10108/2004 UNDERLYNG SEC *7004993 CCAR 5/0 08/31/04 AS OF 08/30/04 823 lekrue497.9 COI EFTA01320947 ES,EZZOO-V1.43 BEAR STURNS OFFICE SERVICING YOUR ACCOUNT Beer, Steams A Co. Inc. 383 Madman Men-c New York New York '0179 Transaction Detail (continued) 0 m INVESTMENT ACTIVITY (continued) SETROCIT TRADE DATE TATMACTICN 09/08104 09/08/04 09/08/04 09/06/04 09102/04 09/07/04 09/07/04 SOLD BOUGHT SOLD PRINCIPAL cim H 09/15/04 09/08/04 BOUGHT r 09/15/04 09/02/04 BOUGHT 09/15/04 08/10104 CANCEL SELL T9LOS£00 AD ANDS DESCRIPTOR GOVERNMENT NATIONAL MTG ASSN SERIES 2004.2 CLASS SG CUE 01/15/2034 11,200% 0987031317099 REF • 2004090257160000 BS UNITED STATES TREASURY NOTE DUE 07/31/2006 02.750% U 31 0988C00 YIELD 2.5537 % 92099 TO MATURITY GVER REF • 62511004 Al UNITED STATES TREASURY NOTE DUE 08/31/2006 02.375% FA 28 0988000392099 YIELD 2,571 %TO IMTURITY OVER RE/ • 62511008 Al FEDERAL NATIONAL MTG ASSN STRIP MTG SERIES 322 CL PO 0.001 DUE03,01232 PRINCIPAL REOUCIN 09-25-04 FNMA-30YR(FNMA)GTO SEIT.0W/04 DUE 09I01/2034 05.500% 0987000510332 REF al 2004090857710000 RS FNMA4uyKONMA>GTD SETT.09/44 DUE 09/01/2034 05.500% 0987031317099 REF • 2004090257220000 85 FroMA-30YR(FNMA)GTD SETI.09//04 DUE 09.01/2034 05.500% 0987290211332 REF • 2004081057320000 BS AS OF 05/10/04 TO Cn PREVIOUS SELL SYMON.10130 RUMMY CLEARED /14tOca3Tt WH041, t>1.7.10 /14DIRDRA, Rea ssre Secullei Cap. Ore Iterotecn Cater WWI Rooldr. rr. Tat 11201-31St FINANCIAL TRUST CO INC 4, 444...-447 n*40 Scctembcr 1.200E TTOTOTTON SepternDer 30.2004 ArnTIRT kLACAR Wawa 'OMER On Re µTT sTATETTERT Augat 31.2004 YIULl DOR µOJVT 01031 Al/OUNT 38374FCN2 .9.449,493 95.25000 9.000.642.18 ACCR. INT 64.676,53 912828C01 50,000.000 100.39063 50,195,312.50 ACCR. INT. 145,720.11 912828CU2 .50,CCO.CCO 99.62500 49,812,500.00 ACCR. INT. 26,243.09 3136FALCI1 -123.C419 M80197 10,000,000 101.60647 10.150.546.88 5A80197 20,000.030 101.37500 20,275,000.00 5A80197 30.000.000 100.82813 30,248,437.50 027 1001114:07:40 001 YMS EFTA01320948 - z C rn z r Z9L0SE00- O19- ANGS I8 b.) IJ BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New Yak. Now Yoh 10178 • Transaction Detail (continued) INVESTMENT ACTIVITY (continuos) SETTLDIENT TPAIX DAN DATE TRANSACTION CESCSSVION 09/15/04 09/08/04 CANCEL BUY FNMA-30YR(FAIMA)GTD 5080197 -10.000.000 GETT.09I/04 DUE 09.01/2034 05.500% 0987000510332 REF P 2004090857710000 BS AS OF 09.08104 TO OIL PREVIOUS BIN SYLNOLCJILIP MUM 09/15/04 09102104 CANCEL BUY FNIAA-30YR(R4MA)GTO SA80197 -20000.000 SEIT.09/104 WE 09/01/2034 05.500% 0987031317099 REP • 2004090257220000 BS AS OF 09/02/04 TO CXL PREVIOUS BUY 09115/04 08/10104 SOW FNMA-30YR(FNMA)GTO SA80197 -30.000.0W SETI.OW/04 WE 09/01/2034 05.500% 0987280211332 REF • 2004081057320000 BS OW15/04 PRINCIPAL FEDI HOME LOAN MFG CORP*502684 3128CWG7 SERE., 218 Ct. PO DUE 02/01/32 PRIN Te/0 0804 PA)09-15-04 REPO P a I 0.0000 CLEARED TLIROuGm OS Weis PALO SJOSIXtRY Sew. Sin Scats Cci. On) Varosch t Nem Cesar. Now SA 11201-N69 FINANCK TRUST CO INC srmsuort Pew. September 1, 2004 nolOJGH September 30.2004 ACCOUNT mall TAXPAYER MISER On Flo LAST PAYMENT ALIIIAS 31.2004 MCC cart wawa MN MOWN 101.60547 10.160.546.88 101.37500 20,275.00100 100.82813 30,248,437.50 336.255.00 09/15/04 PRINCIPAL FEDERAL HOME LOAN MEG CORP 3139276E2 -395.047 SEMES 2483 CI. SI. 5,291 DUE 03fl 5/32 PRINCIPAL REDUCTN 0945.04 09,15/04 PRINCIPAL FEDERAL HOME LOAN MEG CORP 31393FAF3 438.983 SERIES 2530 CUSS SE 5,691 CUE 02/15/32 PRINCIPAL REDUCTN09-15-04 09,15/04 PRINCEPAL FEDERAL HOME LOAN MTG CORP 31393FGB6 -188.303 SERIES 2528 CUSS SI 5.291 WE 02/15/32 PRINCIPAL REDUCTN 094544 027 i001.04.67:48 001 v843 EFTA01320949 In 8 IJ IJ 1-17 0 ii C in r E9L0SE00- O19- ANGS BEAR STEARNS OFFCE SERVICING YOUR ACCOUNT Beat. Steams & Co. Inc. 383 Madison Avenue New York. New Ycek 10179 10 wit Transaction Detail (continued) INVESTMENT ACTIVITY (continued) sentasto MOE DATE art 0923/04 0922/04 09/27/04 0924/04 09/27/04 09/27/04 09/27/04 TOTAL INTEREST DME ocsonpnett 09/01/04 AVG BAL 483.462RT 0.729 303.78 021 °FREE MEREST 0804 CLEATED nnts as WACALy OA7.E0 SuiSilatrY Bev. Sion Senn esp. Cr. natal en Rath 0/074”. We Tort 11201.3259 FINANCIAL TRUST CO INC STATItial PERO° SepteMb01 1.2004 7711104014 Seccomber 30.2004 ACCOUNT Farm TAXPAYER MASER On Fie LAST 'TRW' aguSt 31. 2004 111.411$411011 DESCRIPTOR EnOLCUSP 01.1141111Y MICE owl MCMI CREDO MOUE, BOUGHT UNITED STATES TREASURY NOTE 912828012 25.000.000 99.84375 24,960,937.50 DUE 08/31/2006 02.375% FA 28 0988003592099 AO:It INT. 37.724.45 YIELD 2.458 % TO MATURE!), GM REF 5 42661011 Al SCAD UNITED STATES TREASURY NOTE 912828CR9 -15.000.000 99.73438 14,960,156.25 DUE 08/15200702.750% FA 15 0988280293099 ACCR. INT. 48.199.73 YIELD 2.846 % TO MAMMY GVER REF a 62681022 Al PRINCIPAL FEDERAL RATIONAL MTG ASSN 3136FALOT 123.088.50 STRP MTG SERIES 322 CI. PO 0,C01 DUE 03/01f32 PRINCPAL PAYMENT 09-25-04 PRINCIPAL FANNIE MAE CMO/SERIES 2003-13 s Ramio FLTR 31392/062 -546.176 6.385 DUE 03/25133 PRRICPAL RECSICTH 09-25-04 PRINCIPAL FEDERAL NATIONAL MTG ASSN 31393C2C6 -275,184 SERIES 2003.49 cuss SW 5.385 Out 01/25.03 peeccsmi RF.DuCIN 09-25-04 5136.192.624.25 5135,055,745.68 904101:10/. WARM MR 1%) MST /VAUNT MST MOAT 09/15/04 FEDERAL HOME LOAN MTG CORP SERIES 2471 cuss VT cut 03/15(2032 1.000 IC Re OB-04 ND 094544 REPO P 5I 1.0000 31392R6U0 1.0000 21.525.8.5 027 14011204.07:49 001 Y063 EFTA01320950 0.04.000 TS:0CM ITS Ve441t4V wire SIA1S041.114 BUM"( STEARNS OFFICE SOWING YOUR ACCOUNT Beta. Steams & Co. Inc. 383 Manson Avenue New York. New York 10179 11 an 804/ Wants Swabia Cap. ow41040X.Ch Cele Mae laM1£ 9Y. to 2013959 FINANCIAL TRUST CO INC STATIMINT MPS= 5.4.44•Ifter 1. 2004 Transaction Detail (continued) INTEREST (continued) 11.040=4 010440100' 30.2004 *mourn %Nei ?Amoy( N111.4101 On Fie tAIT STATE...04T M915t 31. 2004 WC DESCR•InN SnaeuCuSe OLUNTITY WC OR DEW WOW CRUM nom 09/15/04 FEDERAL HOME LOAN MTG CORP 3139216E2 5.2910 67,500.81 SERIES 2483 CI. SE DUE 03/15/2032 5.291 INTEREST PAYMENT 094544 0 09/15/04 FEDERAL HOME LOAN MTG CORP SERIES 2485 CUSS SO 313927/32 6.2910 69.343.03 01X03/15/2032 6.291 NT RID 08-04 P/D 0.3•15.04 -n 09/15/04 REPO P & I 6.4000 FEDERAL HOME LOAN MTG CORP 31393FAF3 6.8910 83,430.59 SERIES 2530 CUSS SE DUE 02/15/2032 5.691 C MEREST PAYMENT 09.15434 in 09/1 S/04 FEDERAL HOME LOAN MTG CORP SERIES 2526 CLASS SI WE 02/15/2032 5.291 31393F686 5.2910 31319.67 INTEREST PAYMENT 09-15-04 09/16/04 GOVERNMENT NATIONAL MTG ASSN 38374FCM4 5.6000 196.53147 SERIES 2C04-2 CUSS S8 DUE 01/16/204 5.600 NE, 09.043 PA) 090644 REPO P & I 5.6000 r 09/20104 GOVERNMENT NATIONAL MTG ASSN SERIES 2004.5 CUSS PS 38374F067 5.3503 196.166.67 DUE 02/20/2033 5.350 off Re 08-04 PO 09-20-04 REPO P & I 5.3500 09127/04 FANNIE MM CMO/SERIES 2003-13 31392/04(2 6.3850 160.909.29 P9LOSEOCIA19- ANGS S RCR4/0 FUR CUE 03/25/2033 6.186 MEREST PAYMENT 0945-04 Ca7 113.01.04.97:00 001 Yes EFTA01320951 0 0 F I C in r S9L0SE00- O19- ANGS BEAR STEMNS OFFICE SF_RYICavG YOUR ACCOUNT Bear. Steams & Ca. Inc. 383 Maclean Avenue N 12 ern Transaction Detail (continued) INTEREST (continued) =MO THROWN Tie Maly Onttel) elen4D4Attr Aws Stonte$ Cap. ON Menne, Coma "AN etenent Nett en ¶1201.3$59 FINANCIAL TRUST CO INC steretanti 11ROD September 1.2034 THROG.4 September 30. 2004 ACtOuni TwerAyell matt On Fie LAST SWUM' AU9UM 31. 2004 DAVI IMSCRIPT104 Setillatell, SP OtiAlart RAO OM ow, 4.140.1XT CREDIT AvOten 0027/04 FEDERAL NATIONAL MTG ASSN 31393C2C6 5.3850 68.332.41 SERIES 2003-49 CLASS SW DUE 01/25/2033 5.385 INTEREST PATIENT 09.25.04 TOTAL 1897,263.55 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear, Steams& Co. Inc. 31111110011 TRADE DATE DATE TRANS...010N CO01111TIC41 STANICIJCUS• 0111/0111 DEOrt MONT CRI MOUNT 09/02/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FCN2 9.449.493 6.200.000.00 SIRES 2004.2 CLASS SG 11,200 DUE 01/18/34 FITM F2403144 A2 Wed REPO AGREEMENT 0602104 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FCN2 -9,449,493 6.250.000.00 SERIES 2004.2 CLASS SG 11.200 DUE 01/1034 FILM F2463081 A3 REPO AGREEMENT 0902/04 JOURNAL GOVERNMENT NATIONAL MEG ASSN 38374F012 -9.449.493 7.283.000.00 SERFS 2004-2 CUSS SG 11,200 DUE 01/16/34 FM F2463081 Al REDO AGREEMENT 09/02/04 JOURNAL GOVERNMENT NATIONAL MEG ASSN 38374n/42 9,449.493 7.293.000.00 SEARS 2004-2 CLASS SG 11.200 °MOTOWN FITM F2463081 A2 REPO AGREEMENT 09/02/04 INTEREST GOVERNMENT NATIONAL MTG ASSN 38374FCN2 1.767.00 SERIES 2004-2 CLASS SG WE 01116/2034 11.200 ITDA 12403144 AZ REPO INTEREST 027 100t04.1)7:41 001 VMS EFTA01320952 ril 8 b.) b.) 00 00 BEAR STEARNS omce saws* YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Mackson Avenue New York. New York 10179 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (=not 6l 0 -n SETTLEVEW DAME DATE DATE 09/03104 09/03/04 09/08104 C rn 09/08/04 09/08/04 r 09/08/04 09108104 99LOSEOCIA19- ANGS mummy/ DESCRIPTOP4 JOURNAL FEDERAL 140ME LOAN MTG CORP SERIES 2488 CLASS SO 6 .400 DUE 03/1932 FDA F2323128 A2 TERM REPO AGREEMENT SnAKT.CUSIP 313927/32 DONT AMOUNT CLEARED THROUGH ITS voOLLY Ov..E0 Sunoture Sew Slams Seaton CO,. Ere 1141/OPICA CRAW NOM RTIOIAIT WA VAX 112014459 FINANCIAL TRUST CO INC STATV.err put co Decorator 1.2004 THROW.. Se;SOMDte 30. 2004 ACCOurn rAA4002 TAXPAYER msieE, On Pie LAST TrATVANT AL4ust 31. 2004 04100 AMOUNT 13.001.818 JOURNAL FEDERAL HOME LOAN MTG CORP smog 2488 CLASS SO 6.400 DUE 03/15/32 RDA F2473199 Al REPO AGREEMENT 313927J32 -13.001.818 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FCN2 SUDS 2004-2 CLASS SG 11.200 DUE 01/18134 FILM F2463081 A4 TERM REPO AGREEMENT 9,4490493 72,000.00 6.250.000.00 JOURNAL FEDI HOME LOAN MPG CORP/0502684 31280.4)G7 SERFS 218 a. Po DUE 02/01132 F1TM F2523196 Al REPO AGREEMENI -79885.838 7.200.000.00 JOURNAL FEDI. HOME LOAN MTG CORP9S02684 3128LNUG7 SERIES 218 Cl. PO WE 02/01/32 FDA F2253180 A2 TERM REPO AGREDAENT 12,885.836 9,788,000.00 DELNERED UNITED STATES TREASURY NOTE WE 07131/2006 2.750 2,750 otm 070108 FDA F2190710 02 TERM RESALE AGREEMDIf 912828C01 -50.000.000 RECEIVED UNITED STATES TREASURY NOTE ODE 08,31/2005 2.375 F 2.375 Du( 08/31/08 ILM F2520885 Al RESALE AGREDAENT 912828CU2 50.000000 50.375.000.00 50.082.503.00 027 1COOLIDIO17,49 OM /0961 EFTA01320953 rn 8 tia IJ m SEMAIRDIT RUM DAL[ OAir 09108104 09108/04 09/0B/04 09/13/01 cim H 09/13/04 r 09/13/04 09/13104 L9LOSE00- 019- ANGS B&W STBcRNS EDUCE SERVICING 87JR ACCOUNT Bea'. Stearns & Co. Inc. 383 Mason Avenue Now York. New Yea 10179 14 # 17 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) ITt/JGOCIION DESOOPTION MEREST GOVERNMENT NATIONAL MTG ASSN SERIES 2004.2 CLASS SG DUE01/16/2034 11.200 FrtM F2463061 PA REPO INTEREST MEREST FEDL HOLE LOAN MTG CORP#502684 SERIES 218 Cl PO DUE02401/2032 0.000 FITM F2253160 A2 REPO INTEREST INTEREST UNITED STATES TREASURY NOTE DUE carmoce 2.750 HIM F2190710 A2 RESALE MUSS) JOURNAL FEDL HOME LOAN MTG CORP0S02684 DRIES 218 Cr PO DUE 02/01/32 FMA F2523196 AZ TEAM REPO AGREEMENT JOURNAL FEDI. HOME LOAN MTG CORPAIS02684 SERIES 218 CT. PO DUE 02/01/32 HEM F2573145 A3 REPO AGREEMENT JOURNAL FEDL HOME LOAN MTG CORP#502684 SERIES 218 0. PO DUE 02/01/32 nnA F2573145 Al REPO AGREEMENT JOURNAL FEDI. HOME LOAN MTG CORP.S02684 SERIES 218 CL PO DUE 02/01/32 FRIA F2573145 AT REPO AGREDAENT CLEARTO TRROUGR na %HOW( CANNED SURSOWIY Dee. Shen Soox0a Corp. Ore Weeptedi Comer Nonn IM I TT AATT 112.01.3123.9 FINANCIAL TRUST CO INC snazierrt PIT= SOCCOMber 1.2004 ThRanAt Dotemme 30.2004 Ad:COerr .40.1001 TAXPAYER MASER On Fie LAST STATEINNT ARCO,/ 31.2004 STIMOUCUSIT GUMMY wren mono CRITIO ANCON1 38374FCN2 1,968.75 3128CVUG7 13.213.80 912828001 54,614.90 31280/1167 12.885.836 7,203,030.00 3128CVUGI .12.885,836 7,200,000.00 3128CVUG7 42.885.836 9.680.000.00 3128CVUG7 12.885.836 9.680.000.00 027 10121104.07:411 COI YOU EFTA01320954 °FARED 11.10IACA. as VolCAY erne SIJOSIAAAY BEAR STEARNS Celt( SERVICING YOUR ACCOUNT Ben. Steams & Co. Inc. 383 maclison Avenue New V022. New Yolk 10179 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (orange) summon PRIX OAR OAR 09/13/04 0911404 m 0904/04 09/1404 cim H r 29L0SE00-O1D-ANGS 8 O ORD 5/04 MOISACEN 02000711771 INTEREST FEDL HOME LOAN MTG CORPOS02684 SERIES 218 CL P0 WE 02/0112032 0.000 mkt F2523198 AZ REPO INTEREST JOURNAL FEDL HOME LOAN MTG CORPOS02684 SERFS 219 a PO DUE 02/01/32 RIM F2573145 44 TERM REPO AGREDADIT JOURNAL FEDL HOME LOAN MTG CORP4002884 SERIES 218 CL PO DUE 02/0 1132 HIM F2583256 Al REPO AGREEMENT INTEREST FEDL HOME LOAN NIG CORP#S021384 SERIES 216 CL PO WE 02/010032 0.000 Erne F2573145 M REPO INTEREST JOURNAL FEDERAL HOME LOAN MTG CORP SERIES 2488 CLASS SO 6,291 DUE 03/1502 TAM F2593287 Al REPO AGREEMENT 09/15/04 JOURNAL FEDERAL HOME LOAN MTG CORP SERIES 2488 CUSS SO 6.291 DUE 03/15/32 rum F2473199 A2 TERM REPO AGREEMENT OW15104 INTEREST FEDERAL NOME LOAN MTG CORP SERIES 2488 CUSS SO DUE 03/15/2032 6.291 FITM F2473199 A2 REPO INTEREST Dm. Stems Swats to-(. litinzetn Caw nem Nes at 112014659 FINANCIAL TRUST CO INC STATERENT ICAO° SOROMbOt 1,7004 110t6JCA Sopcombor 30.7031 ACCOLMT TARAWIR PAAJOER On Fie LAST STATEUZYT A1941 31. 2004 SYMKOCUSP 0107RRI OEM Asa CRICal 92A0010 312BCYUG7 1.800.00 3128CVUG7 12,885.836 7,200,000.00 31280AJG7 42.885.838 7,320,003.00 31280A1G7 472.00 313927/32 -12.6.50401 313921/32 12.659.401 72.000.00 313927/32 45.38 027 1001/022)7A0 COI Ass EFTA01320955 I9VEZZOO- V.L.43 BEAR STEARNS orra SERVICING YOUR ACCOUNT Bear. Stearns & Co. Mo. 383 Madsen Avenue Now York. New York 10179 16 an 0 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (oonunuecl) senuuon DATE tatt ITUJ4SUCTION easowyEAL snwoucusw OWNEITY 09/21/04 09/21/04 JOURNAL JOURNAL GOVERNMENT NATIONAL PAM ASSN SERIES 20042 CLASS 58 5421 . OUE 01/18/34 WM 12653155 Al REPO AGREEMENT GOVERNMENT NATIONAL MTG ASSN 383741CM4 383745044 .41.695.395 41.695.395 SERB 2004.2 CLASS 58 5.421 DUE 01/16/34 -n FIRM 11913154 82 TERM REPO AGREEMENT 09/21/04 INTEREST GOVERNMENT NATIONAL MTG ASSN 38374F044 SERFS 2004.2 CLASS 58 DUE 01/16/2034 5.421 in z 0923/74 RECEIVED HIM 11913154 82 REPO INTEREST UNITED STATES TREASURY NOTE DUE 08/31/2006 2.375 2.375 DUE 08/31/06 912828CU2 25.000.000 FMA F2670490 Al RESALE AGREEMENT 0903/04 DELIVERED UNITED STATES TREASURY NOTE 912828CU2 -50,000,000 DUE C6/3142008 2.375 2.375 DUE 08/31/06 r FILM 1252088$ A2 TERM RESALE AGREEMENT 09/23/04 INTEREST UNITED STATES TREASURY NOTE 912828CU2 DUE 08031/2006 2.375 RIM F2520885 A2 RESALE INTEREST 09/27/04 RECEIVED UNITED STATES TREASURY NOTE 912828CR9 15.000.000 _ 69LOS£00 INS ANOS DUE 08152007 2.750 2.750 CUE 06/1507 HIM 1271c:662 Al RESALE AGREEMENT CLEANED THROUCH n1 WNELLY ouwan wow way Sac Sturm Scut in Cap. One MontiAlt Corte Math New Min 112014819 FINANCIAL TRUST CO INC STATEMENT PE74700 102tenter 1.2004 isa012077 Sostamere 30. 2004 ACCCLOrt SWUM tmenYin 7.VADER On rle LAST sTATTWENT AUSEnt 31.2004 CCM MOW Gaon AmOLMI 2.816.000.00 3.7394:00LO 1%757.44 25.062.500.00 50.062.500.00 22.361.25 15.037.500.00 TOTAL 5-147.607.524.35 5148.335.476.15 . 027 1001,0470749 COI 1563 EFTA01320956 rn 8 IJ 1.2 10 4a. 1.0 0 -n z C in z r OLLOSEOCIN9- ANGS BEAR STEARNS OFFICE SERVICING CUR ACCOUNT Rear. Steams & Co. Inc. 383 Madison AVOW* New YOlk. New York 10179 17 a^ Transaction Detail (Continued) MISCELLANEOUS art 1.30DAV TRAIRICTON DeiCele11014 OFtT AMOUNI CRUM Am,:b1/1 09/02104 JOURNAL FRO MA 10.32 09/11/04 JOURNAL FNIAA-30YR(FNMA)GTO 1871051.38 SETT.09804 5.500 DUE 09131/14 MKS NET 09114/04 09/18.134 JOURNAL AUG 04 SPEC CLEARING FEES 300.00 TOTAL S-187.419.70 Trades Executed Pending Settlement SIMLOADit 1200E DAR DAR TROGACI1ON OCSCRPTIC111 61100C1/CUSP 01.2111109 eta DI NT AMCOR MCC MOM 10/14/01 09/22/04 BOUGHT FNIA.4.40YR(FNMA)GTO 5A80009 10000.000.00 101.8359 10.183.593.75 SETT.10.434 DUE 10101/2034 05.500% 0987021011332 REF r 2004092257810000 85 10114/01 09108/04 SOLD FNMA.30YR(F1414/)611) 930009 .10.000.000.00 101.3125 10,131,250.00 SETT.10/04 DUE 10/01/2034 05.500% 0987000510132 REF a 2004090857720000 85 TOTAL 510,183,593.75 510,131,250.00 The PO area rat do 4100.14th -9204 MICIOA 010is Memel. 01) 1001/04.0749 001 "43 CLEARED Int0t4ii ITS man , mmIDD StalSOvir, Sew Senn Seru,ies Cap. Ono WO ' Carter 1401/1 OICOnr. 'ter Yon 11201.3269 FINANCIAL TRUST CO INC STATELEP.7 PERM September 1.2004 TheCoOm September 30.2002 ACOOL•41 I/P:PAYER Pamela on Me Lan STATE14ENT twat 31.2004 EFTA01320957 0.1.06J) TAR040.4 rte 141434.LY OVALED SuSSOARY 0 m 5 m r ILLOSEOCIN9- ANGS BEAR SIMMS OFFICE SERVICING NOVA ACCOUNT Sear. Stearns b Co. Inc. 383 Madison Aver,:e New Yak. Nen, • 4. 0179 Be.,. Swots Seoul*, Com. Ore I/onto Came, Man itocnr. Nes Vat 11201.3t49 FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE GNMA GOVT BONO VISIT OUR MIME wavybearstOams cern What's In This Statement Financial Summary 3 I I I FINANCIAL TRUST CO INC srmainer Auto° Tilectocal Aryl> pa KAGIAJN TAxPAYER row, LAST mAn-oeNy July 31. 2004 ALguSt 31.2004 On Fla July 10.2004 Your Portfolio Holdings 4 WO JEFFREY EPSTEIN Transaction Detail 7 6100 RED HOOK QUARTER Trades Not Yet Settled 14 STE B3 ST THOMAS Vi 00802 Your Portfolio at a Glance TOTAL VALUE CC SECURITIES NG PERIOD 12,698.148 Cron a N uimei Market Value of Your Portfolio 548.511 53.971 LONG ACCRUED MEREST 144,104 ENS 512.698.148 Kane NET CREDIT BALANCE 48.513 Conant market value NET EQUITY TN$ PESSOCI $12,890,765 is last statarrana martat value NET EQUITY LAST STATEMENT 11,475,709 CHANGE SIC LAST STATEMENT 1.415.056 There are rt"Stop Lose orders a other pending buy or sell open orders on Ale roc yaw tiCCOunt. Ski 11/14 Aran is ex itorweicaN moms orti. t Is Ax a tax es:anni. 71S stigenert fetid In named Re "tar newt Sae item sake ,eat.1 voteraeca 02? 0A01.04.011.31 001 EFTA01320958 CISARED THIOUOM ITS V.1.0.LY OHM) SLOSCIARY Leo. Uurci SPINS 03, One klattilth Coe Pat Omaha. Sea York 11201.1859 FINANCIAL TRUST CO INC 2 oils 0 z-n C in z -H r ZLLOSE00- 019- ANGS 8 b.) b.) STATEMENT BACKER IS PRINTED ON THIS PAGE 037 OP01)0401 II CV VB62 EFTA01320959 BEAR STEARNS OFFICE SERVIOr45 YOUR ACCOUNT Bear. Steams b Co. Inc. 383 Ma6son Avenue New York. New Tot 10179 3 Cash Flow Analysis file PDX° Income Summary 7103 VICO TEAR MOM OpenIngEtalarroa Securities Sold DiridendsAnterest 53.971.20 259,156,483.49 1.044.009.74 U.S. Govt. Bond Int. Gent. Agency Lg. Cap. Bend Int. Credit Balance Int. 11,209.24 864.599.88 168,044.57 156.05 294,052.65 7.065.800.47 1,557,101.84 559.25 0 z -n Amount Credited Securities Bought Diriderdsanterest Charged Miscellaneous 5270,200,493.23 -269,95%006.50 -196,161.68 -782.76 Reverse Repurchase Int Total Bona Purchase Int. Margin Mt. Paid 59,273.54 $1.103.28328 .195.16168 0.00 163.790.28 59.081.304.49 -929.102.64 .1.770.70 Repurchase M. E . -9.818.25 ,128,719.56 C rn z Amount Debited Net Cash AcOnly Closing Balancer $--270,155.950.94 44.542.29 548,513.49 Portfolio Composition Cashtash Equivalent 48.513 Feed Income 12.698,148 r Cash Balance Summary 011£741,C CLOSAG Total 512,746,661 Margin 3.971.20 48.513.49 Net Cash Balance 53,971.20 548.513.49 ELLOSEOCIN9- ANGS 027 0x01040071 001 =MEP 1144003H n vma. "NCO SUBSIOW1rf Oar. Sten Se0/14173 Cop. Cm WM407 Own *eh Plat rot 11201.3859 FINANCIAL TRUST CO INC STA7774”.7 PEROD July 31. 2004 TH00.444 Swat 31.2004 ACCOWT wiceet 1.4xPAyen numb= On Flo LA37 STATWENT July 30 2004 Your Portfolio Allocation Cata Er/Jalrient, c1% Fired income 99% eras, man ant. eat Mayo way nO way pas Tfrolayalen payntia 4 004.4 ten e. tenant sane aye N yo.0 µmob 'as, EFTA01320960 CLUSE0 TW1OUCIrt ITS allOur Omit> Su&Man 0 -n C in r PLLOSE00- 019- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue i iiiiaiork 10179 4 a •. Your Portfolio Holdings CASH 2. CASH EQUIVALENTS DISLOPON CASH BALANCE TOTAL CASH & CASH EQUIVALENTS 548,513 111.03:1-CvSt. OUANDMY MUMS ISIIVARD CURRENT ILIJI LINUAI WOK 1100 00 48,513 FIXED INCOME Government 8 Agency Obligations LOOMS SnaeueuSe ALL, ern me Ma MARKO YAWL AMMO HMIS ISM= Ana WORM CURRFIrt MOON FEDERAL HOME LOAN MTG CORP 31393053 MRGN 17,261,501 9.6502 1,665,771 44.496 1.001.167 60.1023 SERIES 2530 CLASS SE DATED DATE 10111/02 BOOK ENTRY ONLY DUE 02/15/2032 5.800% FACTOR • .28769169 FEDERAL HOME LOAN MEG CORP 31393F086 MRGN 7.404.371 8.7803 648.644 17.771 399.836 61.6418 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY ONLY DUE 02/15/2032 5.400% FACTOR - .26769168 FEDERAL NATIONAL MTG ASSN 3136FALQ1 MRGN 4,278.010 83.7656 3.583.502 3 43 0.0012 STRIP MTG SERIES 322 CL PO DATED DATE 03/01/02 800/2 ENTRY ONLY DUE 03/01/2032 .001% FACTOR - 1.00000000 FEDERAL NOME LOAN MTG CORP 3139216E2 MRGN 16,000,179 8.3346 1.250.208 36.001 810,010 64.7900 SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/1512032 5.400% FACTOR - .28003635 Bea. Shin Swaim Corp. • Ihreate, Cater Nor0 Wargo% New Yon 11201.3859 FINANCIAL TRUST CO INC STATEuEkt PERIO0 JL 31. 2004 TanOUGH Aug.& 31. 2004 AMC NT FauweER 1AXPA11/1 NWIER On Ilk WT STATEWVIT Sty 30. 2034 an 0a0104L0 COI 015.3 EFTA01320961 c/LARIO n41003,1 IS WmCur OASED Sutt&Oar 0 -n C rn r SLLOSE00- 019- ANGS BEAR STURNS OFFICE SERWCMG YOUR ACCOUNT Beat Stearns & Co. Inc. 383 MOW Avenue New York. New York 10179 5 4.14 Your Portfolio Holdings (continued) Government E Agency Obligations (coMintioa) Of.SCRP113% SMOOLCUSJP 140 rag Worm IOARKR VALUt ACCRUED MEREST [STUMM natill POW" CURRENT YIELD N FEDERAL NATIONAL MTG ASSN 31393C2C6 PARCH 15.227.278 9.7794 1,489,130 13.668 819.989 55.0650 SERIES 2033-49 CLASS SW DATED DATE O4/3O103 BOCK ENTRY ONLY CUE 01/25/2033 5.385% FACTOR .62646272 Total Government& Agency Obligations 58.637.255 5111.939 $3.031.045 Corporate Bonds •CCI ACCRUED ESIMUO) CUOMO DESCIW11OR STWarCUSIR ME OUARTITY MX MAUI MA MEREST WW1 MCCUE MAD CO FANNIE MAE MO/SERIES 2003-13 31392.062 MRGN 30,222.674 13.4366 4.060,893 32.165 1,929.711 47.5194 $ RCRJO FITR DATED DATE 022103 BOOK ENTRY ONLY DUE 0312572033 6.385% FACTOR - .60445153 Total Corpaate80nOs 54,060.893 532,165 51.929.711 TOTAL FIXED INCOME 512.698,148 5144,104 54.960.756 etas Swam Secvlun Cap. One Veroteat Cots WV. &ccit” New Vat 11201.ISSS FINANCIAL TRUST CO INC STATIMM RMOD RR 31, 2004 TalCv0.4 N.gutt 31. 2004 ACCOlon WM= 74/O.Aven WARP Oil FIB USE STATaltrIT ADE 30. 2004 YOUR PORTFOLIOHOLDINGSACCRUEO INTEREST 5144.104 YOUR PORTFOL JO HOLDI NGSESTIMATED ANNUAL INCOME 54.960.756 YOUR PRICEDPORTFOLIONOLDINGS 512.746,661 027 COO7O4a It O1 EFTA01320962 8917EZZOO- V1.43 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams 8 Co. Inc. 383 Madison Aven.Je New York_ New )r4. "0176 6 o. -1 Repurchase and Reverse Repurchase Transactions with Bear, Stearns& Co. Inc. outstanding as of date of statement Ulan RROUGH ITS *Nat, ant&D SLAISIDIARY Ser. son SeurileS Cap. eno lames, C4rby fir New Ret 11201.31i$9 FINANCIAL TRUST CO INC STA- niENT PEAR° My 31.2004 THROUGH Augn 31.2004 AC,CPAT swags TAxPANTR MAWR On Fie LAST (moment Joy 83.2004 PUICHASEI SUM DATE REPUROOM OAR PM CPC PAR PUROMSE IRKU PRISON/ ACCRUED SOO NRRIST• OUMAYTTY OAR MOUIII1 CYSN OESOMICN YOU SOLD GOVERNMENT NAMNAL PAM ASSOC (REPO) 07/79/04 10/12/04 1.790 -3.739.000 -10,039 -44.389.962 38374F044 SERIES 2004-2 CUSS S 5.6000 01/16/34 0 z -n YOU SOLD (REPO) 07/09/04 YOU SOLD (REPO) 08/12/04 10112/04 09/13/04 1.790 1.800 -5.866,000 -9.788.000 .15.750 4,788 -44.000.000 ‘50.CCO.000 38374F087 3128CVUG7 GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-5 CIASS P 5.3500 02/20/33 F H L M C • STRIP PRINCIPAL ONLY YOU PROVIDED FEDERAL HOME LOAN MTG CORP in (MARGIN) 08119/04 OPEN 0.000 -500:0030 31392//32 SERIES 2488 CLASS SO 6.4000 03/15/32 z J YOU SOLD (REPO) 08/27104 09)02/04 1.710 4,20;0.030 -1.472 -10.000.000 38374FCN2 GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-2 CLASS 5 11.2000 01/16/34 YOU BOUGHT USTR 2.750007/31/06 (REVERSE) 08/06/04 OPEN 1.290 50.375.000 41.601 50,000.000 912828001 r TOTAL REVERSE REPURCHASE TRANSACTIONS 550.375.000 541.601 TOTAL REPURCHASE TRANSACTIONS S-25.593.000 5.37.049 _ 9LLOS£00 IND ANOS 'Al d sisist *et 021 OPOODOIll 31 041 V862 EFTA01320963 0 E I r LLLOSE00- IN9- ANGS BEAR STUWNS °FEIGE SERVICING YCAIR ACCOUNT Ber. Staems & Co. Inc. 383 MacAson Avenue New York. New York 10179 7 Cil4 Transaction Detail INVESTMENT ACTIVITY StntEeDir non OME MAISACM11 COCAFTION 08/02/04 07/30/04 BOUGHT StIMCIAXISIP OUMEllY CUAnD ~art ne ~DUS ~ED SuaSevar kw. Sona Senrisn Ore ~ovan Gni« Pan, 8rocikir. Ne* Verk 11201.3859 FINAHC/AL TRUST CO INC ITAiner of P500 Mi 31. 2004 ~ene August 31.2004 AN, . Ni Nina ~Amt ~MER On Rie SUT!~ My 30.2004 UNITED STATES TREASURY NOTE 912828080 25.000.000 100.12891 25.032226.56 ODE 06/30/2006 02.750%10 3D 0988000592099 /CCRMT. 81.650.82 HELD 2.680% TO MATUREN OVER REF * 02121013 Al 08/0VO4 07/30104 BOUGHT UNITED STATES TREASURY NOTE 912828CM0 50.000.000 100.12891 50.064.453.13 DUE 06Ø200602.750%10 30 0988000592099 /CCR INT. 123.301.63 AUD 2,680 % TO MATURRY GVER REF • 02121013 Bl 08/02/04 07130/04 SOLD UNITED STATES TREASURY NOTE 912828001 -25.CCO.000 100.06250 25,015,825.00 DUE 07)31/2006 02,750% D 31 0988C00792099 ACCILINT. 3.736.41 NEID 2.718 % TO MATURITY GVER REF 4. 62121008 Al 08/02/04 07130/04 SOLD UNITED STATES TREASURY NOTE 912828001 -50.030.000 103.08250 50.031.250.00 DUE 07)31/200602.750% II 31 0968000592099 ACCR. INT. 7.472.83 YIELD ,718 % TO MATU GVER RE2F • 621211008 BlRITY 08/08/04 08/05/04 BOUGHT UNITED STATES TREASURY NOTE 912828071 25.000.000 100.24219 25.080.548.88 DUE 07/3020345 02.750% År 31 0988280293099 ACCR. INT. 11.209.23 Yale. 2624% TO NATURDY OVER REF e 62181004 Al 08/12104 08/10/04 BOUGHT FEI* HOME LOAN ARG CORP8S02684 3128CWG7 13.222.091 82.43750 10.899.961.68 SEILES 218 CL PO DUE 02/01/2032 0987021011332 REF • 2004081057470000 ISS 08/16/04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 31392T6E2 -363,943 SERIES 2483 CL SL 5.620 DUE 03/15132 PROKVAL RECUCIN 08.15-04 08116/04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 313927/32 -315.458 SERIES 2488 CLASS SO 6.620 DUE 03t15.02 PRMCIPAL RECUCIN 08-15-04 en elen/04reni Wl yen EFTA01320964 0.EARED 9,0101.1014 ITS ~Oar 04000 Subinner OLVIZZOO- V.L.43 0 -n C in z r _ SLLOS£00 IND ANC'S BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madam Avenue New York. New York 10179 8 re Transaction Detail (continued) INVESTMENT ACTIVITY (cortinued) SEVIESP00 TRADE WA WE nt./68911991 08/16/04 PRINCIPAL 08/16/01 PRINCIPAL 08/16/04 PRINCIPAL 08/18/04 WIRED 06/2004 JOURNAL 06,25634 PRINCIPAL 09/25/04 PRINCIPAL 0825104 PRINCIPAL TOTAL ow. Rearm Stones Co0 ow ranrceere Wow 41901 111014459 FINANCIAL TRUST CO INC STATINEHT 01.000 Jut) 31.2004 1909:0014 0.94i 31.2004 AcCOuNT KAMA Tan, NAOS On Fie 095010,10N simialCuW Gummi LAST STATOSNT YR2 our 41/0.ta July 30. 2,304 411.011 4910100 FEDERAL HOME LOAN MEG CORP 31393FA53 -430507 5 SEWS DUE 25302/ 0 CUSS SE 15/32 ,020 PRINCIPAL REDUCTN 06.1544 FEDERAL HOME LOAN MTG CORP 31393F066 -186,183 SERFS 2526 CLASS SI 5.620 DUE 02/15/32 PRINCPAL REDUCTN CO3-15-04 GOVERNMENT NANCNAL MTG ASSN 38374F012 100872.80 SERIES 2004 2 CUSS SG 11.620 DUE 01/18034 PRIN PJD 06-04 PM 08-16-04 REPO P & I 11.6200 PUT TSY 3119 05/07 9258526 -50.000.000 EuROPoen3/2 ut SERE 99-r3 004 FEDERAL HOME LOAN MEG CORP 31392T132 3 SERIES 2488 CLASS SO 6.400 DUE 03/15132 ADJUST POSITION FEDERAL NATIONAL MEG ASSN 31360101 100962.15 SIRP MTG SERIES 322 CL P0 0.001 DUE 03/01/32 Pim WO 07-04 R/0 C41-2541 REPO P &I 0,0000 FANME MAE CMO/SERIES 2003.13 313921002 -560215 S RCR40 FLTR 6.550 DUE 03/25/33 PRINCIPAL MUM 08-2544 FEDERAL NATIONAL MTG ASSN 31393C2C6 .284,273 SERFS 2003.49 CLASS SW 5.550 DUE 01/25/33 PRINCIPAL REDUCTN 08.25434 5.111.253.349.93 $75.265.919.19 01.03/331 Col 31 001 V962 EFTA01320965 rn 8 1.2 IJ -a C) 0 m rn r 6LLOSEOCIND- ANGS BEAR STEARNS OFFICE SERVICANG YOUR ACCOUNT Boat Stearns & Co. Inc. 383 Madison Avenue New Yod, New Yoh 10179 9 0i /A Transaction Detail (continued) 8383.1111112 MOM 1111101.1011 A1731.2004 Newt 31.2004 ACCOU111 wagon 72201AVIR SLAW 011 Fla INTEREST tan aucitecr hay 30.2004 DATE DESCRI11011 SYMBOUCUSt Ouumw RATE ON Dan amown CREDO 11.0810 08/02/04 AVG BAL 311,731RT 0.581 156.05 021 OFFICE INTEREST 0704 08/16104 FEDERAL NOME LOAN MTG CORP 31382R6U0 1.0000 22.048.12 SERIES 2471 CLASS YI DUE 03/15/2032 1000 NT ED 07-04 FID 08-15-04 REPO Ps I 1.0000 08/16/04 FEDERAL HOME LOAN MEG CORP 31392T6E2 5.6200 71.055.30 SEEMS 2483 Ct St DUE 03/192032 5.620 INTEREST PAYMENT 08-1544 08/18/04 FEDERAL HONIE LOAN MTG CORP 313927132 8.8200 73,486.97 SERIES 2488 CLASS SO DUE 03/15/2032 6.620 MEREST PAYMENT 06-1544 06(1804 FEDERAL HOME LOAN MTG CORP 31393FAF3 6.0200 88,774.97 SERFS 2530 CUSS SE DUE 02/15/2032 6.020 INTEREST PAYMENT 08-15-04 06/16/04 FEDERAL HOME LOAN MTG CORP 31393F085 5.6200 35.650.03 SERFS 2526 CUSS SI DUE 02/15,2032 5.620 MEREST PAYMENT 001544 08/16/04 GOVERNMENT NATIONAL MTG ASSN 38374FCM4 5.8100 205,817.52 SOHES 2004-2 CUSS SE DUE 01/16/2034 5.610 NT RIO OB-04 PID003-18-04 REPO P & I 5.8100 0828/04 GOVERNMENT NATIONAL MTG ASSN 38374FCN2 11.6200 92,479.38 SERES 20042 CUSS SG CUE 01/16/2034 11.620 NT RA) 08-04 ND 00-16-04 REPO P & I 11.6200 0.9/880 Illear8. RS 22.0.er 09119) SLOSAARY 8•Ar Stearn s.o C09. Ono MeUclen ce 1190 80388/3 VS Yea 11201.3869 FINANCIAL TRUST CO INC az? 0•01.64:6•31 001 81182 EFTA01320966 CLUJI10 100OUGn rts WHCIAY 00140 fueS0mAre Tn 8 b.) IJ 10 IJ BEAR STEARNS OFFICE SOWING YOUR ACCOUNT Bear. Steams 6 Co. Inc. 383 Madison Avenue Ne l i a la m let 10179 10 a' Transaction Detail (continued) INTEREST (contInued) W. Sun Sawn., Cap ON Monauch Coeur North Nat V0111201.3555 FINANCIAL TRUST CO INC STATEMEM P!m MI 31.2004 ninoo3N August 31. 2004 ACCOUNT WISE* TAXPAVIIA NUIS On Ft LAST STAIBCC July 30.2004 out Oacatimi SYMOUCUSIP OLusanY RATE (10 onrt ANORNI CRUM MONO 08720104 GOVERNMENT NATIONAL MTG ASSN 38374FD87 5.5300 202.766.67 SERIES 20045 CUSS PS CUE 02720/2033 5.530 MT RA) 07-04 100820.04 REPO P I 5.5200 06/25104 FANNIE MAE CMO/SERES 2003-13 31392,0K2 65500 188.044.57 S RCR470 FOR DUE 02/2572033 8.550 -n INTEREST PAYMENT 03-25-04 08/25/04 FEDERAL NATIONAL MTG ASSN 31393C203 5.5500 71.740.92 SERIES 2003.49 CLASS 9N C CUE 01/25/2033 5.550 INTEREST PAYMENT OB-25-04 TOTAL S1.032000.50 in z REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear,Steams& r 08L0SE00- O19- ANGS StRIAWAT nu% OME GATE IRAICSACTON COMPTON SonoutuSIP 04046/TAY NM NAOMI CREDIT MOST 08/02704 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FCN2 9.550.385 8.225.000.00 SERIES 2004.2 CLASS SG 11.620 DU 0106/34 "MA 3201 AZ TERM REPO 0 AGREEME NT 08/0204 JOURNAL GOVERNMENT NAMONAL MTG ASSN 38374FG/72 -9.550.365 7.080.000.00 SERFS 2004-2 CLASS SG 11.620 DUE 01/18/34 FILM F2153351 Al REPO AGREEMENT DELIVERED UNITED STATES TREASURY NOTE 912828CM0 -75,000,000 75.582.500.00 DUE 0873072008 2.750 2.750 DUE 0640,06 FITIA F1910574 A2 TERM RESALE AGREEMENT 08/02/04 027 09,0104:0111 041 YM2 EFTA01320967 ELI7EZZOOV1.33 (-) 0 m r _ T8L05£00 IND ANGS BUR STURNS OFFICE SERVICING YOUR ACCOUNT Rear. Steams b Co. Inc. 383 Madion Avenue New York. New York 10179 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) ~ITN THRCUCO4 Ra mac( 4461401ARY eRN Somorm Sins C . One FANnach term North Meat Yon 11101.3849 ISNANCLAL TRUST CO INC STATVADa PER00 Jul/ 31. 2004 TI4C00.4 44gu1t 31. 2004 ACCO.Nrr TWAYER µ4.43ER On Rio LIST STATEMENT .k 30. 2004 SMO4ENT WADE DAR CATE 111/44SACTON DESCRINDON SYMOUCLISIP OLIVIMY 01011 AVC4N1 CREPT AAMUNT 08/02/04 RECEIVED UNITED STATES TREASURY NOTE 912828C01 75.000.000 75,375,000.00 DU750 DUE E 07/31/2C06 /31/06 2.750 2. 07 ATM F2151023 Al RESALE AARE/MEW 08/0204 INTEREST GOVERNMENT NATIONAL MTG ASSN 313374FCN2 1,348.76 SERIES 2004-2 CUSS SG WE (31/16/203A 11.620 FIM 12103201 Al REPO INTEREST 06/02/01 INTEREST UNITED STATES TREASURY NOTE 9128280/0 50.416.98 DUE 08/302806 2.750 REM 11910574 A2 RESALE MEREST 0806/04 RECEIVED UNITED STATES TREASURY NOTE 912828001 50.000.000 50,375.00000 DUE07/3120» 2.750 2.750 DUE 070105 FDM 12190710 Al RESALE AGREEMENT 08/06704 DELIVERED UNITED STATES TREASURY NOTE 912828C01 .75,000.000 75.375.000.00 DuE 07/31/2008 2.750 2.750 PU10701/08 FIM 12151023 A2 TERM RESALE AGREEMENT 0806/04 INTEREST UNITED STATES TREASURY NOTE 912828001 8.856.56 Due 07/31/2006 2.750 FINM 12151023 .2 RESALE MEREST 08/12,04 JOURNAL FEDL HOME LOAN MFG CORPWS02664 31280/107 .13.222091 9,788,000.00 SERIES 218 a PO DUE 0201132 HIM F2253160 Al WO AGREDADO 0012/04 .10UidAL FEDERAL NATIONAL MTG ASSN 3136FALQ1 4.278;10 STRIP MIG SERIES 322 CL PO 0.001 WE 03/01/32 HIM 11913156 Am TERM WO AGREEMENT 02? 00101431;00.41 001 1•13 EFTA01320968 tLrEZZOO-V133 BUR STURNS OFFICE SERVICING YOUR ACCOUNT Boar. Steams & Co. Inc. 383 Madison Avenue New Yeah. Plow York 10179 12 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASETRANSACTIONS (cconnued) SEMAMEN1 02404 0A11 0411 0(017/04 0 08/16104 m 0611604 08/111/04 cim H 08127/04 r 08727/04 08127/04 Z8LOS£00 IND ANDS litIASPCI1ON CESCAPTICOI JOURNAL FEDERAL NATIONAL MTG ASSN 0. MTG SERIES 322 CL PO 001 EWE 03/01(32 Rim F2251277 Al REPO AGREEMENT JOURNAL FEDERAL NATIONAL MTG ASSN MAP MTG SERIES 322 CI. PO 0.001 DUE 03/01(32 FTTM F2253277 .42 TERM REPO AGREEMENT INTEREST FEDERAL NATIONAL MTG ASSN STep MTG SERIES 322 CL PO DUE 030112032 0.001 mu F2263277 A2 REPO MEREST JOURNAL FEDERAL HOME LOAN MTG CORP SERIES 2488 CUSS SO 6.400 DUE 03/1542 F11M F2323129 Al REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL MTGASSN SERIES 2004.2 CLASS SG 11.200 DUE 01/16/34 FILM E2403144 Al REPO AGREEMENT JOURNAL GOVERNMENT NAMELY. MTG ASSN SERIES 2004.2 CUSS SG 11.200 DUE 01/16/34 FRM £2403144 A2 REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004.2 CLASS SG 11.200 DUE 01/16/34 FiTm F2403144 A3 REPO AGREEMENT C41•444.0 THROuGn RS 440u. osno suLSCAker Bat Stuns Softness Cop. Ore VerourA Oyu New, Away. Nes Yet 11201.3459 FINANCIAL TRUST CO INC St.:Mufti 44.4000 My 31. 2004 INRONON ALgust 31. 2004 ACCCANT 'MISER TAWAVIR NVUBER On Fie LAST STATENENT my 30. 2004 SYMBOUOMP *mem DM MOM CM(' WOUN1 3136FALQ1 4,278,010 310.000.00 3136FALCII 4,278,010 310,02040 3136FAL01 62.00 313927/32 -13,001,818 38374FCN2 4.449.493 6.145.000.00 38374FCN2 9.449.493 6,145,000.00 38374FCN2 -9.449.493 6150.00040 027 014110.111141 001 3162 EFTA01320969 Fn I8 IJ 1.2 1.01 BEAR STEARNS OFFICE SERVED* YOUR ACCOUNT Bear. Stearns 6 Co. Inc. 383 Mackson Avenue New Vat. New Yont 10179 EXARGO neztosm ES WmEttyr 0A903 SUES/0MT Star. Yard Stanti C09. CM IMUCECR Lear Mal Y 112014859 FINANCIAL TRUST CO INC 13 st Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) 511750.0M TRIM aft Mil 10/45ACTON DISCRETION STRI0/015E 1004011Y 0128 AVOW STAtelaRT PEE= ILly 31.2004 THROUGH M9.51 31. 2004 ACCOUNT PlaCER TAXPAYER WARR 00 5.90 tun STAMEN? My 30.2004 MDR AMOUNT 08/27/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FCN2 9.449.493 6.15O.OOO.OO SERIES 2004-2 CLASS SG 11,200 OUE 01/16/34 F1TM F2403144 Al 0 08/27/04 JOURNAL REPO AGREEMENT GOVERNMENT NATIONAL MEG ASSN 38374FCN2 -9.449.493 6.200.000.00 SERIES 2004.2 CUSS SG -n 11.200 CUE Olt18/34 DIM F2403144 AS REPO AGREEMENT 09/27/04 JOURNAL GOVERNMENT NATIONAL MEG ASSN 38374FCN2 9,449.493 7,080,000.00 C rn 01•27/04 JOURNAL SERIES 2004-2 CUSS SG 11.200 DUE 01,16/34 FITIA F2153351 A2 TERM REPO AGREEMENT GOVERNMENT NATIONAL MTG ASSN 38374FCN2 4,449.493 7.232.000.00 SE RIES 2004- SG 11.200 DUE 021116/ CLASS 34 DIM F2403143 Al REPO AGREDIDAT 09/27/04 JOURNAL GOVERNMENT NATIONAL MEG ASSN 38374FCN2 9,440,493 7,232,000.00 SERIES 2004-2 CUSS SG r 1,200 INJE 01/16,34 Firm F2403143 A2 REPO AGREEMENT 09/27/04 INTEREST GOVERNMENT NATIONAL MEG ASSN 38374FCN2 8.407.50 SERIES 2004-2 CLASS SG CUE 01t16/2034 11.203 FO1.1 F2153351 A2 REPO INTEREST TOTAL 5-158.901.818.25 1193.901.773.54 ESLOSE00- 019- ANGS 027 01101.04E1141 C01 1/862 EFTA01320970 CLEARED 11440UON ITS W4Cts, 04%03 VASOWir rn IS b.) IJ --J 0 -n C in z r VSLOSE00- 019- ANGS BEAR STEARNS OFFICE SERVICING 'UR MUUVT Sew, Steams 8 Co. Inc. 383 Madsen Aven/e New YOrk. New Yak '0119 ON SOWS - Cap. Cot NNW. arm an isaw on 10 -3 FINANCIAL TRUST CO INC 14 to Transaction Detail (continued) MISCELLANEOUS TRAWSPCIION OCSC41•1104 DUO 49.404141 CROW AMOUWI 100414Y 08/02.04 RECEIVED EWA PG0016475097 482.76 0215212820 POOL COUPON 2.7500 FINANCING NET PAROFF DFF 08/16/04 JOURNAL JULY 04 SPEC CLEARING FEES 300.00 TOTAL S-782.76 Trades Executed Pending Settlement W11114011 mix 0414 DM1 MANSACTON CESCIIMICH 09/15/04 08/10/04 SOLD Snacuon STATIMENT PEPOCO 31.2004 Tift0D3H August 31.2004 ,ICON T OLOAIN 'OWN Nara On Ito LAST 61.0110 NT kit 30.2004 GOMM PRIM Mt UNA: CORA' AVOW FNMA-30YR(FNMMCM 5A80197 -30000.000.00 100.8281 30,248,437.50 SETT09804 ME 09/01/2034 05.500% 0987280211332 REF • 2004081057320000 BS TOTAL $O 'D 530.248 437.50 "o allo totos eb oat Nam u• wry ow. Nabs or Pa Needs. End of Statement 02) 09.01434:08 31 WI EFTA01320971 0 TZ T I 5 m r S8LOSEOCIN9- ANGS b.) —J —J BEAR STEARNS OFFICE SERVICING YOUR ACCOAT Bear. Steams 6 Co. Inc. 383 Madisco Avenue N • Y Ncw York 10179 CLEARED 114/10u074 ITS W apor OwnE0 VAISOAlw Ow Ram Sens Cap. Cre Metrotecri Cow Not Sas 120 3449 FINANCIAL TRUST CO INC ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WIIISITE am.beamteans.com What's In This Statement Financial Summary 3 I I FINANCIAL TRUST CO INC MATTA/err Pr 12,03 THR001.1 AACCceiT wuweee TAJCP.0ER MAW* WT STATEuENT Ally 1, 2004 &I 30.2004 C•1 File Art 30. 2004 Your Portfolio Holdings 4 CIO JEFFREY EPSTEIN Transaction Detail 7 6100 RED HOOK QUARTER Trades Not Yet Seeded 17 STE 83 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio TOTAL VALUE OE SECuRtnES THTS PERM' LONG ACCRUED MEREST NET CREDir BALANCE 11.296.902 174.836 3.971 GSA 6 EDu men 13.911 $129.030 mare $11.848.152 NET EOUDY TAILS PERIOD 411,475,709 NET EQUITY LAST STATEMENT 12162.877 CHANGE SINCE UST STATEMENT -687.168 - 110.00 Ce•Of mtes „title •40ete MI reA roam 7, ea 7.5 Vasa al Socutb• re ne met 00.i TM Pejo, There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. MI °rent market WA* ME UM Stater...MI market value glW TN" SJTenry itmulure armlet MA. IS not restate as a en eacAmod. Tit •72.7-em roue te mares he 212J7 wens See meg* We er ewer/ wirmatir. 327 073104'O 41 001 01100. EFTA01320972 2 8LtEZZOO- V.Ld3 0 -n z C in z -H r _ 98LOS£00 IN9 ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE CO7 07/31104W41 031 EFTA01320973 CLL TAMAN ITS AltiCAIN MONO SJITSCuARY 6Lh£ZZ0OVLa3 BEAR SIMMS OFFICE SERVICING YOUR ACCOUVr Bear. Steams & Co. Inc. 383 Madison Avenue New Yak. New Yak 10179 3 or le Cash Flow Analysis nes rozoo Income Summary 9.4S PRIX TtmnooeTc. openingBalance Securities Sold Dbidendsanterest 5129.030.02 180,245,896.38 1.076.355.23 U.S. Goa. Bond Int. Govt. Agency 91t. Cap. Bond Int. Credit Balance Mt. 0.00 900,793.20 175.390.75 171.28 282.843.41 6,201,200.59 1.389.057.27 403.20 0 miscellaneous Amount Credited 183.88 5181,322,435.49 Reverse Repurchase Int. Total 41.156.77 51.117.512.00 104,516.74 57.978.021.21 Tz Securities eought -181.242.338.23 Bond Purchase Int. -133.576.76 -732.940.96 t l Funds Wandrawn -70.539.00 Magri Int. Paid 0.00 -1.770.70 Repurchase Mt. Om. -43,298.09 -118.901.31 Diwiendsintcrest Charged -133,608.18 m z Miscellaneous Amount Debited -1408.90 5.181.447.494.31 Portfolio Composition Net Cash Activity -125,058.82 Cash/Cash Equnalent 3,971 Closin98alence 53,971.20 Fired Interne 11,296032 r Total $11,300.873 _ LSLOS£00 N19 ANUS Cash Balance Summary OPDO4 =fan Meer 129.03042 3.971 20 NetCash Balance 5129,030.02 53.971.20 11•01. Clain Statuses Cap an Iteavinn resit. wan law i201.3919 FINANCIAL TRUST CO INC seamen PfROO .111J 1.2004 TIMCSJ0H ht, 30.2004 ACCOUNT Wank TM:PAMIR NUMMI On Flo oar smarvaDa kne 30.2004 Your Portfolio Allocation Cash & Equirolentl <1% fired !come 99% Uremod Amoy 134.11. Set *MAT Pr rune NANA Tr* ear FYI SY SWIM, mi1.( ‘/Aati3O.• •Celtti, 027 07/31104.0t41 001 4150 EFTA01320974 -n C in r 88LOSEOCIA19- ANGS IS 1,4 1,2 La so O FEDERAL HOME LOAN MTG CORP SERIES 2630 CLASS SE DATED DATE 10/11/02 BOOK ENTRY ONLY DUE 02/1S/2032 6120% FACTOR . .29493347 BEAR STEARNS OFFICE SERVICING YOUR AccOukr Bear. Steams & Co. Inc. 383 Madison &verve New Yak. Net: 10179 4 a •$ Your Portfolio Holdings CASH & CASH EQUIVALENTS otscavnar. CASH BALANCE TOTAL CASH & CASH EQUIVALENTS SnAlt0;,CMVP MAW 1011WARD CURKM W4Ut MOM WOVE VMD ey.) 3171 $3.971 EQUMES Equities & Options ACCT MAYO 8$111411T1) CORRUPT CMCMICII 5Y1080UCUS41 TYPE ONA1n PM( PM* MAIM WOW 1113.0 (%) PUT TSY 31/8 05/07 9258526 MRGN 50.000.000 Unprice0 EUROPUT STRIC 9940 OP 08/13/2004 Total Equities& Options SO SO TOTAL EQUITIES SO SO FIXED INCOME Government & Agency Obligations ACC CMCP1M1C01 57INIOUCUSP TYIF 31393FAF3 WIRGN OUNglITY 17,696.008 UWE) 11.9105M. Es M✓_LLY OWYED WASOARY Oar Sun Seems Cap. One Ibrated. Owar North ', CCM; PIM Mt 11201.3859 FINANCIAL TRUST CO INC STATZLID.' PT,000 My 1.2004 TmeGJOY My 30. 2004 At") NT vial. TAXPAYER MAMER On rile LIST STAITWMT Any 30.2(04 ACCRUED ESTIMUTO CURRIM POSE 11411111 VALLE 1NTEIEST 4/241111. INCOAl WILDOy 10.1846 1,802,275 44.388 1.065.300 59.1086 027 07151/04,31.41 CO1 VMS EFTA01320975 CUOMO 1MOIAn r7S leklOu. OvelED SUOSOLLJTe rn IS b.) Ja DO Ia -n C in r 68LOSEOCIA19- ANGS BEAR STEARNS OFFICE SERTACmG YOLK ACCOuv" Bear. Stearns & Co. Inc. 383 Mattson Avenue Nos York, New Yak 10179 E or is Your Portfolio Holdings (continued) Government G Agency Obligations (cormnLecr) DIEStarlION Erill0734917 ACC; Tin PESCI PASO VALUE ACCEEtti ILTERES7 trikUltD 7141004 MOVE CURSES! ORD na FEDERAL HOME LOAN MTG CORP 313937086 MRGN 7.590.754 9.1200 692.280 17,774 426.600 61.6225 MMES 2526 CLASS SI DATED DATE 10,01/02 BOOK ENTRY ONLY DUE 02/15/2032 5.620% FACTOR . .29493346 FEDERAL HOME LOAN MTG CORP 313921/32 MRGN 13,317.273 11.4435 1.523,967 36.735 881,603 57.8492 SERFS 2488 CUSS 93 DATED DATE 076:03/02 BOOK ENTRY ONLY DUE 03/15/2032 6.620% FACTOR - .26634662 FEDERAL HOME LOAN MTG CORP 3139216E2 MRGN 16.364.122 8.8240 1.355,734 35.978 863.464 63.6898 MKS 2483 CI. St DATED DATE 07402/02 BOOK ENTRY ONLY DUE 03/15/2032 5.620% FACTOR - .26634560 FEDERAL NATIONAL MTG ASSN 31393C2C6 AIRGN 15.511,551 10.4392 1.619.282 11.956 B60,891 53.1650 SERIES 2003.49 CUSS SW DATED DATE 04/3003 BOOK ENTRY ONLY DOE 01/25/2033 5.550% FACTOR - .63815794 Total Governments Agency Obligations 56.993.538 5146.831 54,097,858 kw. Sinn Wain 070 Viltiocich Came Mann WOW" New at 20 ISE FINANCIAL TRUST CO INC STATEMENT PERO° 1170 1.2034 01110.73.11 July 30.2004 *caws" KAISER TALOAYER WIESER LAST STATEMENT On FM Ms 30. 2004 027 0701/04.0S 41 COI VOSS EFTA01320976 Cl99.40) TWOLGH ITS MOLLY ConwID SultS000Y rn 8 b.) IJ La so IJ -n C in r 06LOSEOCIN9- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOIRJT Bear. Steams 6 Co. Inc. 383 Medium 00901.16 New Ycrk New York 10179 6 u • Your Portfolio Holdings (continued) Corporate Bonds 0(SCR011314 FANNIE MAE 0401SERIES 2003-13 S RCR40 FUR DATED DATE 02/25/03 600E ENTRY ONLY DUE 03/25/2033 6.550% FACTOR . 61573583 Total Corporstaonds 54.303364 528.005 52.016.535 TOTAL FIXED INCOME 511.296.902 5174.836 56.114.393 SOCT SYMOOlCUSIP not 3139210)(2 MRGN MAN-TM Mae. Suva SicAles Coy. Coe Minscusto C- Nem Mat Yak 11201.0959 FINANCIAL TRUST CO INC STAT019,0 PEACO 1W3 1.2001 THROU051 My 30.2004 ACOPIPC MAKER TAXPAYER KAMER On Me LAST rAITWEPT Ano 30.2034 ACCOMID (mew OFRE117 MCI WHET WW2 Penni 230091 MOM 0110 30.786.789 13.9780 4.303.364 28.005 2.016.535 46.8595 YOUR PORTFOLIONOLDINGSACCRUED INTEREST 5174.836 YOUR PORTFOLIO NOLDINGSESTIMATED ANNUAL INCOME 56.114.393 YOUR PRICEDPORTFOLIOHOLOINGS 511.300873 Repurchase and Reverse Repurchase Transactions with Bear,Steams& Co. Inc. outstanding as of date of statement PURCHASE! 5144 DATE 905,n2St DATE PleCING PAR PU904.551 MP:1M ACOMV MPG WIMP OUAN1102 (ACC MOUNT) 02312 OESCRP11311 YOU SOLD GOVERNMENT NATIONAL MTG ASSOC (REPO) 07/09/04 10/1204 1.790 -3.739,000 -4.461 44.389.962 38374FCM4 SERIES 2004-2 CLASS S 5.810001116/34 YOU SOLO GOVERNMENT NATIONAL MTG ASSOC (REPO) 07/09/04 10/12/04 1.790 4.866.000 -7.000 -44,030000 38374R/67 SERIES 2004-5 CLASS P 5.530002120/33 on ouniosoo in on nee EFTA01320977 MARIO MOM.. ITS WM!, MAD SUMMARY 0 0 -n C in r T6LOSEOCIA19- ANGS 8 1.4 M.) La to 00 BEAR STEARNS OFFICE SERVICIM YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue Now VD& NON Yoh 10179 7 eh Repurchase and Reverse Repurchase Transactions (continued) with Bear, Steams& Co.inc.outstanding as of date of statement (continued) my00.34/ RETURCRASE pR17146 STYE ME DAM RAM MOMS( MU MOM ACCRUED REPO OTEAESP ODOM! (Mt /443uorn OSP Martel YOU PROVIDED FNMA.SuBS PRINCIPAL ONLY (MARGIN) 07/09/04 OPEN 0.000 45403.000 3136FAI01 SERIES 322 CUSS PO 03/01/32 YOU SOLD GOVERNMENT NATIONAL MTG ASSOC (REPO) 07/28/04 08/02/04 1.580 -6.225.000 -1.348 -10.000.000 383745012 SERIES 2004-2 CUSS S 11.620007/16/34 YOU BOUGHT UST/ 2.750006/30/06 (REVERSE) 07/09/04 OPEN 1.150 75.582.500 49.934 75.000.000 912828050 TOTAL REVERSE REPURCHASE TRANSACTIONS 575,562.500 549.934 TOTAL REPURCHASE TRANSACTIONS 5.15.830.000 5.12.809 AS Al Man !Ms My ken Mulim Cap Cne IMMO outer en Kw Yon 117014/51 FINANCIAL TRUST CO INC 5TAITAMT PI Ay 1. 2004 TOCVON Ms 30.2004 ACOtaro me101 TAXPAYER WOO Dn LAS STA-Eur•T June n. 2004 Transaction Detail INVESTMENT ACTIVITY SETTLEutrit DATE TRADE DATE TRAASAMN OtSCRPTM SYMOUCLISP YUMMY YwM DM AMOR! OMNI AMOUNT 07/09/04 07/09/04 07/08/04 07/08/04 BOUGHT BOUGHT UNITED STATES TREASURY NOTE MO5/1572007 03.1259991 15 0988726998099 YEN 2.908 % 10 'MUM GVER REF a G1901000 Al UNITED STATES TREASURY NOTE DUE 06/30/2006 02.750% Xi 30 0988728291099 Yon 2 521 44 To wouPirt OVER Rri ir 01 901002 A3 912828003 912828C/4D 027 25,000.000 100.58594 ACCR. P4T. 25.000.000 100 43750 ACCR. INT. 07/310:14.0S41 001 25.146.484.38 116.762.90 25.109.375.00 1%813.88 11151 EFTA01320978 ==/.RED THROJOi ITS *Nu, Owieta SuMom( 0 -n C in r Z6LOSEOCIA19- ANGS 8 b.) IJ 00 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. km. 383 Madison Avenue New York. New York 10179 8 w •I Transaction Detail (continued) INVESTMENT ACTIVITY (continued) MOAN! WM 1171ALACION otscancw SNOOL/CUSP PDX OUlt MOUNT CREW /MOUNT 07/15/04 PRINCIPAL FEDERAL NOME LOAN MTG CORP 31392T6E2 400.854 SERIES 2483 Cl. SI. 5,620 DUE 03/15/32 PRINCIPAL MUM/ 07.1544 07/15104 PRINCIPAL FEDERAL NOME LOAN MTG CORP 311927/32 -520,806 SERIES 2468 CLASS SO 6.620 DUE 03/15/32 PMNCIPAL REOUCIN 07-15-04 07/15/04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 31393FAF3 -660,636 SERIES 2530 CLASS SE 6.020 DUE 024542 PRINCIPAL REIXCDI 07.15.04 07/15/04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 313931686 -283882 SEWS 2526 CLASS Si 5.620 DUE 02/15/32 PRINCIPN. REDUCTN 07.1544 07/16/04 PRINCIPAL GOVERNMENT NATIONAL MTG ASSN 38374FCN2 93.692.10 SERVES 2C04-2 CLASS SG 11.895 DUE 01/16/34 PRW MD 07-04 PM 07.1644 REPO P & I 11.8950 07/26104 PRINCIPAL FEDERAL NATIONAL MTG ASSN 3136FAL01 132.216.75 STRIP MEG SERIES 322 CL PO 0.001 WE 0301/32 PM Rit.06-04 P/0 07-25-04 REPO P 6I 0.0000 07/28/04 PRINCIPAL FANNIE MAE CMOISERIES 2003-13 31392JDK2 428.478 S RCR-10 FUR 6.700 DUE 03/25/33 PRINCPAL RF_DUCTN 07-25-04 07/26/04 PRINCIPAL FEDERAL NATIONAL MTG ASSN 31393C2C6 -315.643 SERIES 203349 CLASS SW 5.700 DUE 01.25/33 PRINCIPAL REDUCTN 07.25-04 TOTAL 5-50.389.436.14 $225.908.85 Om. Sten Swain Co Ne Mama Cala Nom Wider. UN of 20 .1659 FINANCIAL TRUST CO INC STANWer PERM My 1.2004 NROUCal My 30.2004 ACCO, NT NUMBER TAXPiellt UAW On Fie MST 8TATNENT lune 30 2004 027 ouruo40341 COI VSSR EFTA01320979 T4iNaGUNO0 HOSECIOMANCIS BEAR STEARNS OFFICE SERVICING YOUR ACCUAIT Beet. Stearns 6 Co. Inc. 383 Madison Averue Now Yak, New York 10179 9 ell Transaction Detail (continued) DEPOSITS AND WITHDRAWALS DOE IMAMS Ol5CRPION 07/09/04 FND WIRED MDAYGV136016FNDSVARED TO FLEET NATIONAL BANK AC2387804020 C*260198 TOTAL 5-70,539.00 OM MOM CREDO mare 70.539.00 INTEREST Wn DOCAIPTIOM 07/01/04 AVG EIAL 631.112RT 0.325 171.28 021 OFFICE MEREST 0604 TIMICl/04, nano n4t0i.G.4 ifs CMostO SaSSOARY ea. Stein Secolles Ca One Wroittli test, Nom enxilr. Nrw Vent 11201.3659 FINANCIAL TRUST CO INC sumer mem Mg 1,2004 renown Joe 30.2004 ACOMM %MEP TAXIMYEPI µAveCA On /1111 wr STArriars' Ain* 30.2004 slewrny RAM RI DM MOM M7 ALOIS 07/09/04 HIM PGC015990926 0215212820 GOVERNMENT NAnONAL MTG ASSOC POOL 0034473 COUPON 5.9475 EINANCWG IC PNROFr OFF 31.42 07/15104 FEDERAL HOME LOAN MTG CORP SERIES 2471 CUSS)? DUE 03/15/2032 1.000 INT RA) 064)4 FeD 07.1544 REPO P I 1.0000 31392R6U0 1.0000 22.910.37 07/15/04 FEDERAL HOME LOAN MTG CORP 31392T6€2 5.03200 78.848.51 SERIES 2483 CL SL DUE 03/15/2032 5.620 INTEREST PAYMENT 07.1544 07/15/04 FEDERAL NOME LOAN ?MCORP SERIES 2488 CUSS SO DUE 03/15/2032 6.620 INTEREST PAYMENT 07.1544 313921/32 6.6200 77.988.94 07/15/04 FEDERAL NOME LOAN MTG CORP 31393FAF3 6.0200 94.249.90 SERIFS 2530 CLASS SE DUE 02/15/2032 6.020 INTEREST PAYMENT 07.15.04 027 07.21/04g*A1 491 VMS EFTA01320980 rn 8 b.) 404 IJ -n rn r P6LOSE00- IA19- ÅNGS BEAR STEARNS OFFICE SERVICING YOUR ACCOuNT Bear. Steams I Co. Inc. 383 Madison Avenue New York Ne... ver1/4 10179 10 et Transaction Detail (continued) • LatO 11.1900314 08 »Ca 0551‘0 80118051~ • twat Sewlit Cara an >AnaNV. Orter NO Wen" Nev Wet 11201.3339 FINANCIAL TRUST CO INC RIATELIEW Paco ms 1.2004 n 1110131111 July x 2co4 ACODUHT MAMA TARMMM ~ISM On FIN INTEREST (continued) LAST STAMENT Ant 30.2004 NOE OFSCRP71311 51•0803(11535 exam amt di) CUR MOWN CORM .30110 07/15/04 FEDERAL HOME LOAN MTG CORP 31393FG86 5.8200 37.804.05 SEWS 2526 CUSS SI DUE 02/152032 5,820 INTEREST PAYMENT 07-15-04 07/16/01 GOVERNMENT NATIONAL MIG ASSN 38374FCM4 5.9470 212.535.54 SERES 2004.2 CLASS 58 DUE 01/16/2034 8947 INT R/D 07-04 PA 07-16-04 REPO It. A I 5.9475 07116.04 GOVERNMENT NATIONAL MEG ASSN 383741CN2 11.8950 95.596.72 SERIES 20042 CLASS SG DUE O1/162031 11.895 INT R007-04 P/D 07-16-04 REPOP a I 11.8950 07/21/04 GOVERNMENT NATIONAL MIG ASSN 38374FE187 5.5300 207.900.00 SERIES 2004-5 CLASS PS DUE 02/20/2033 5.530 INT W006-04 PA 07-20-04 REPO P 6I 5.6700 07/26104 FANNIE MAE CMO/SERIES 2003-13 3139210ER 6.7003 175.390.75 S RCR-kO FUR DUE 03292033 6.700 MEREST PAYMENT 07-25-04 07/28104 FEDERAL NATENAL MIG ASSN 31393C2C6 5.7000 75.179.17 SERIES 2003.49 CUSS SW DUE 01/252033 5.700 INTEREST PAY)ÆNI 07.25-04 TOTAL 3.31.42 51.076.355.23 027 01030105 41 001 V858 EFTA01320981 CLL4PCD 13410vGn ITS 13.40LLY OWED Su*SOAPY Fn IS b.) IJ Ja 00 0 0 m C in r S6LOSEOCIN9- ANGS BEAR STEARNS DEICE SERVICING YOUR ACCOUNT Seer- Stearns & Co. Inc. 383 MadiSOn Annie New York. New Ycek 10179 11 e Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear,Steams& Co.inc- SITT1111011 MAOt rate MTh 19.416401.341 OCSCRIDO1 SY1.1031J0.601 wenn OEM AMID CIADR 44.030111 07/01104 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FAL01 4.517,189 1.744.350.00 Om. Slam Saone. C4 0.414.11:00. Ceres 1.art. Imr Vat 1120/ .31110 FINANDAL TRUST CO INC STADDADIT retOD My 1.2004 1/1110110/ A11 3D. 2004 ACCOU1T 1.111001 TAXPAY11R 1011141131 01 Fre LAST Emmen AT 30.2004 STRP MTG SERIES 322 CL P0 0.001 DUE 03.01132 HIM $1823319 A2 TWA REPO AGREEMENT 07101/04 KIURNAL FEDERAL NATIONAL MFG ASSN 3136FALQ1 4517,189 3.145.000.00 STRP MTG SERIES 322 CL PO 0.001 DUE 03101/32 FM F1833483 Al REPO AGREEMENT 07/01/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374F007 -44.0O3.000 2,820.000-00 SERIES 2034-5 CUSS PS 5.670 OuE 02/2003 Film 11833485 Al REPO AGREEMENT 07/01/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38370067 44,CO3,003 4.345.000.00 SERIES 2004.5 CUSS PS 5.670 PR 02,70/33 FIlM 11533207 AZ TERM REPO AGREEMENT 07/01/04 MEREST FEDERAL NATIONAL MTG ASSN 3136FALO1 6410 STRIP MTG URNS 322 CI PO DUE 03/01/3032 0.001 FDIC F1823319 AZ REPO INTEREST 07/01/04 INTEREST GOVERNMENT NATIONAL MTG ASSN 38374F087 4.797.60 SERIES 2004.5 CLASS PS WE 02/20/2033 5.670 FDA F1533207 AZ REPO PITEREST 07/08634 JOURNAL GOVERNMENT NATIONAL MEG ASSN 38374FCM4 .42.882.327 700.000.00 SEMIS 2004.2 CUSS SB 5.947 DUE 01/16/34 TM F1903040 A3 PEPO AGREEMENT OZT 011310038 41 101 /40611 EFTA01320982 0 -n C rn r 96LOSEOCIA19- ANGS IS b.) IJ Ja 00 00 BEAR STEARNS CFnCE SEAV1C1NG YOUR ACCOUNT Beer. Steams & Co. Inc. 383 Mattison Avenue Nov York. Now York 10179 12 or le Transaction Detail (continued) REPURCHASEAND REVERSE REPURCHASETRANSACTIONS (continued) Sonuar TRAM 011[ DAIS 11'000.9911011 OES00119N 07108104 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004.2 CLASS SB 5.947 DUE 01(16/34 FDA F1903040 Al REPO AGREE/en 07108104 JOURNAL GOVERNMENT NATIONAL MTG ASSN $0115 2004-2 CLASS SB 5.947 DUE 01/16/34 not F1663239 AZ TERM REPO AGREEMENT 07/0904 JOURNAL GOVERNMENT NATIONAL MTG ASSN Sala 2004.2 CLASS SB 5947 DUE 01/18/34 FILM PU03040 AS REPO AGREEMENT 0770B/04 JOURNAL GOVERNMENT NATIONAL AUG ASSN SERIES 2034-2 CLASS 58 5.947 DUE 0108/34 FILM F1903040 Al REPO AGREEMENT 07/08/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004-2 CLASS 93 5.947 OuE OU18/34 Frthl F1903040 A2 REPO AGREEMENT 0908/04 JOURNAL GOVERNMENT NATIONAL MTGASSN SERIES 2004.2 CUSS SG 11.895 DUE 01/18/34 FIRM F1903129 Al REPO AGREEMENT 07/08104 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004.2 CLASS SG 11.895 DA 0106/34 MIA F0993102 AZ TERM REPO AGREEMENT 0. EARED 19180J01 ITS %MOLLY 0.9941.0 Stay0AnY kat Means Sterols Co, 0. getro1kh Cann Nce. teat" lava V011 112014859 FINANCIAL TRUST CO INC STATREN9 PEROD 1111/ 1. 2034 7,44093.4 Mg 30. 2004 ArCOM nuweeft 79xPAYER ream On De .AST 57 Tamura ha 30.2004 511.0.10.619 Iluumrt oar MOM 0001 Moll} 38374FCM4 42.882.327 703.000.00 3837410.44 42.882.327 2.072.000.00 38374FCM4 -42.882.327 2.800.00000 383741014 -42.882.327 3.736.000.00 38374FCM4 42.882,327 3,736,000.00 38374FCN2 -9.844.067 7,833.03000 38374FCN2 9.844.067 8.258.000.00 027 0701124.02.1 031 via EFTA01320983 =GRID netOutai ITS %Maly OWNCO StISSOIARY 68t-EZZOO- V1.43 0 m C m H r L6LOS£00 IND ANDS BDVZ STURNS OFFICE SERVICING YOUR ACCOUNT Bev. Steams 6 Co. Inc. 383 Madison Aver New Yolk. New ' 3179 Transaction Detail (continued) REPURCHASEAND REVERSE REPURCHASETRANSACTIONS (continued) SEGOate TRAM DATE 0ATt. FUASS41101i DL9:818108 111.16080411 011141111Y OM AVOW 07/08/04 INTEREST GOVERNMENT NATIONAL MTGASSN 38374FCM4 1250.99 SERIES 2034.2 CLASS S8 DUE oinet2o34 5.947 HMI F1663239 AZ REPO INTEREST Ye. Sur% leasais Cap 0 -e ~Moth Geol.. tin Its Yin i I 301.1332 FINANCIAL TRUST CO INC stATEueNT Ponoo Ay 1.2004 TMRCJCM Mr 30. 2004 AC034..NT Nuli0C9 TA.10.AITR eicinICR On The LAST STATIMeNT Ant 30. 200h CRWC 4,40.00 07/08/04 INTEREST GOVERNMENT NATIONAL MTG ASSN 38374FCN2 27.971.68 SERIES 2004.2 CLASS SG COE ouTEJ2034 11.095 RDA F0993102 AZ REPO INTEREST 07/09/04 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FALCH -4,384.972 SNIP MEG SERFS 322 CL PO 0,C01 DUE 0101/32 FITM F1913156 A3 REPO AGREEMENT 07/09/04 JOURNAL FEDERAL NATIONAL MTG ASSN SNIP MTG SERIES 322 CL P0 0.001 DUE 03/01/32 ROA F1913156 Al REPO AGREEMENT 3138FAL01 4,384,972 3,144,000.00 07109/04 JOURNAL FEDERAL NATIONAL MTG ASSN SIRP MEG SERIES 322 CL PO 0,031 DUE 030142 F1DA F1913166 At RENO AGREEMENT 3136FAL01 4.384.972 3.144.000.00 0709/04 JOURNAL FEDERAL NATIONAL MTG ASSN STRIP MW SERIES 322 CL PO 0,001 DUE 03/01/32 FM F1833463 A2 RASA REPO AGREEMENT 3138FAL01 4.384.972 3,145,000.00 07/09/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374K:144 42.882.327 2.800.000.00 SERIES 2004.2 CUSS S8 5.947 CUE 01/15,34 RIM F1903040 A6 TERM REPO AGREEMENT 027 0/8804044i OM V854 EFTA01320984 En I8 b.) IJ C)0 -n in r 86L0SE00-O19-ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 5 Co. Inc. 383 Mackson Avenue New Tort New York 10179 14 ells Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) sinumENt 0004 DAR DATE TRAIGAClION DESOMPREN 07/09/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FCM4 42.682.327 3.739.000.00 SERIES 2004-2 CLASS Se 8947 DUE 01/16/34 RDA F1913154 B1 REPO AGREEMENT SOMOIJEUS• CLEARED MAIM ITS ?MOLLY OVRIOD SUISCARY Out Swain SAAR% ORD Dee RAMS Cenler Fbt . latme Yen 112/14159 FINA NCIAL TRUST CO INC sTATRADC, EIROD Mg 1.2004 fl OVEN My 30. 2004 ACCOUNT WRIER TAMAR RAZER On fie LAST STATARR1 tune 30. 2C04 CENT AMOUNT ORCOO WOW' 07/09/04 JOURNAL GOVERNMENT NATIONAL MEG ASSN 38374FCN2 9.644.057 7.633.000.00 SERIES 2004.2 CUSS SG 11.895 DUE 01/16/34 FIT44 F1903129 A2 TERM REPO AGRUMENT 07/09/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FCN2 -9.644.057 7.633.000.00 SERIES 2004.2 CLASS SG 11.895 DUE O1/16134 MA F1903129 A3 TERM REPO AGREEMENT 07/09104 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374F087 44.000.000 2.820.000.00 SERIES 2004-5 CLASS PS 5.670 DUE 02/20/33 FIN F1833485 Az TERM REPO AGREEMENT 07/00/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374F087 -44.000.003 5.866.000.00 SERIES 2004-5 CUSS PS 5,670 DUE 02/20/33 Firm F1913154 Al REPO AGREEMENT 07/09/04 DELIVERED UNITED STATES TREASURY NOTE 912828CG3 45.000.030 25.062.500.00 DUE 05/15R007 3.125 3.125 DUE 0585/07 FILM F15607C0 A2 TERM RESALE AGREEMENT 07/09/04 RECEIVED UNITED STATES TREASURY NOTE 9128290/0 76.000.000 75.562.500.00 DUE 06/302036 2.750 2.750 DUE 060006 MA P1910574 Al RESALE AGREE/AE/1f 027 0713004.01141 00i 1130 EFTA01320985 IotaCOO-Yin m 0 m r _ 66LOS£00 INS ANOS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams 6 Co. Inc. 383 Madison Aroma New Wyk, New York 10179 15 av Transaction Detail (continued) O1.OttO TROU01 T8 WHOLLY OYMCD SLIOSCCARY But Swami Seorbel COO. 14•0tity.h GSM/ NOT Nets rat 112014439 FINANCIAL TRUST CO INC STATilee nm 1.4 1. 2004 nffoueig AA730. 2004 AO:Oktfr ?OMER worwerR MOM On Tile REPURCHASEAND REVERSE REPURCHASETRANSACTIONS (continued) LAST STATO4P4T Ant 30.2004 SEMEN DO DUDE ONE DATE 10015ACII0,1 DESOBODCw SYMBOLCUSP Ovunfirr DEBff MOW CREW MOutff 07/09/04 OEUVERED UNITED STATES TREASURY NOTE 912828CM3 -103.000.000 100,125,000.00 DUE 06/30/2006 2.750 2.750 DUE 06/30'06 FM F1621036 A2 TEAM RESALE AGREEMENT dikes INTEREST FEDERAL NATIONAL MTG ASSN 3136FA101 1.090.27 STRP LUG SERIES 322 CL PO DUE 03/01/2032 0.001 RIM F1633483 A2 REPO !CREST 07/09/04 INTEREST GOVERNMENT NATIONAL MTG ASSN 38374FCM4 w 89.91 SERIES 2004-2 CLASS SB DtEO1/162034 5.947 MIA F1903040 44 REPO MEREST 07/09/04 INTEREST GOVERNMENT NATIONAL MTG ASSN 38374FCN2 330.76 SERIES 3004-2 CLASS SG DUE 01/16/2034 11.895 FTT1A F1903129 A2 REPO INTEREST 07/09/74 INTEREST COVER/WENT NATIONAL MTG ASSN 38374FCN2 330.76 SERIES 2004.2 CLASS SG WE oin mine 11.895 FIDA F1903129 A3 REPO INTEREST 07/09/04 INTEREST GOVERNMENT NATIONAL MEG ASSN 38374F0$7 977.60 SERIES 2004-5 CUSS PS DUE 02/20/2033 5.670 F/TM F1833485 A2 REPO INTEREST &owe INTEREST UNITED STATES TREASURY NOTE 912828063 17.710.83 DUE 05/15/2007 3.126 FM F1560700 AZ RESALE INTEREST 07/09/04 INTEREST UNITED STATES TREASURY NOTE 9128280.10 23.445.94 DUE 06/300.006 2.750 FILM F1821038 A2 RESALE INTEREST 0/1 07/31.01:00A1 C01 V3$8 EFTA01320986 rn 8 b.) La 10 0 -n C rn r 00805£00-019-ANGS BEAR STURNS OFFICE SEDUCING YOUR ACCOUNT Beat. Stearns & Co. Inc. 383 Mason Avenue New York. New Yoh 10179 16 co le Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) CLEARED THROUGH ITS vote 01,11.6 SUIMSIC4Aliv Bean— Sanas Ons Cne *teach LWOW Wei etettr. Ite• Toe 112014969 FINANCIAL TRUST CO INC STATEMENT PERKO Stay 1. 2001 T11400014 1411 30.2004 4.00041114 Mae TA2MAYSIII MAW On FINI LAST STATIDISMT lone 30.2004 SC41117.66 Tuff DAN MN TRASSACTIDII USCRIPSON Swam/cusp ciwany CENT AUXIN (raw AMOUNT 07/15104 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FCN2 -9.644.057 7.350.000.00 SERIES 2004-2 CUSS SG 11.995 DUE 01/16/34 ATM F1973297 Al 141/0 AGREEMENT 07/15/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FCN2 9.644.057 7.633.000.00 SERIFS 2034.2 CUSS SG 11.895 DUE 01/16/34 FRI F1903129 A4 TERM REPO AGREEMENT 07/15/04 INTEREST GOVERNMENT NATIONAL MTGASSN 38374FCN2 2.315.34 SERIES 2004.2 CUSS SG FDUE IT 01/16/2034 190 9 0A11.895 M 1 312 REPO MEREST 07/28/04 JOURNAL GOYERAWENT NATIONAL MTG ASSN 38374FCN2 40.550.365 6.225.000.00 SERIES 2004-2 CUSS SG 11,62000E 01/11/34 FOIA F2103201 Al REPO AGAWAM 07128/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 383741CN2 9.550.365 7450000.03 SERIES 2001-2 CLASS SG 11.620 DUE 01/16/34 nnA 11973297 A2 TERM REPO AGREEMENT 07/28.04 INTEREST GOVERNMENT NATIONAL MTG ASSN 393741CN2 4,140.50 SEARS 2004.2 CUSS SG CAPE 01/16/2034 11.620 FITM FREEST PR FI9 297 AZ REPO TOTAL S-130.986.478.85 5180019.987.53 0/S104 08 41 001 vase EFTA01320987 IT1 8 IJ IJ BEAR STEARNS OFFTCE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madson Avenue New York. New Tot 10179 Came= 1143054.4 ITS yma..5Y 01.04D 381.91DVICY kr Saws Seluitet Cap. Ore We-N-N Cater SOrth On Tea 11201.3859 FINANCIAL TRUST CO INC 17 ale Transaction Detail (continued) MISCELLANEOUS AOCOuto KAMER TAXPAYER flaw On lb LAST STATC.410 June 30 2004 C) 0 -n OAR cescernoe car mew attar man MCA, ntutsecroN 07/02/04 JOURNAL 07/C604 JOURNAL 07/09/04 DELIVERED 07/18/04 JOURNAL FITO TO ATM FITM FITO HIM PG0015989324 0215212820 POOL COUPON 3.1250 PINANG.% NET PAIROFF [TIFF JUNE 04 SPEC CLEARING FEES 158.90 850.00 79.45 104.43 TOTAL 5-7.008.90 $183.88 C in z Trades Executed Pending Settlement r T080SE00- O19- ANGS 521111.800 TRADE DAIL DAR TIOAGACOON DESCRIPOON 08/02/04 07/30/04 BOUGHT SYMECUCUSIP sTATEMPa PIADO 1W11.2004 afROVat tut/ 30. 2004 Dummy PRE. Oat sew =art meow UNITED STATES TREASURY NOTE 912828CM0 25.000.000.00 100.1289 25,093,877.38 DUE 06/30)2006 02.750% JO 30 0988000592089 YBLD 2.680% TO MATURITY OVER REF *G2121013 Al 00.02/04 07/30634 BOUGHT UNITED STATES TREASURY NOTE DUE 08/30/2008 02.750% JO 30 0968000592099 YIELD 2.880 % TO MATURITY OVER REF • 62121013 81 912828CMO 50,0:0,020.00 100.1289 50,187,754.78 08/02/04 07/30/04 SOU, UNITED STATES TREASURY NOTE 912828031 -25,00),E03.00 100.0825 25,019381.41 DUE 07/31=06 02.750% JJ 31 098800)592099 YIELD 2.718 % TO /AMMO OVER REF • 02121008 Al 027 07131/04.0841 001 5115S EFTA01320988 CLEARED laceOuGD TES Vieta.LY DANE0 SLAISODRY -n z C in z -H r ZOSOSEOCIN9- ANGS 8 IJ IJ BEAR STEARNS OMCE SEM/MG YOUR ACCOUNT Bear, Steams & Co. Inc. 383 Mackson Avenue New York, New Yoe% 10179 18 a.5 Trades Executed Pending Settlement (continued) SEDIMENT TRADE DATE DM( DWISACI):11 DES:WM 08102/04 07/3C804 SOU) SeVIIOutirSP Belt Shane Sahel*, Co.,. Ere altany.ten Cenue Mut erocklp. Nem not /12014919 FINANCIAL. TRUST CO INC SEATO/. RFEYA try 1.2004 TwA004•3 Aty 30.2084 ACCCANT wanee TAXPADDi taw On F-4, LAST STATEMENT June 30. 2004 MWIDTT PRY( DENT WOVE? CREW WOUNI UNITED STATES TREASURY NOTE 912828001 -50.000.000.00 100.0625 50.038.722.83 DUE 07/31/2006 02.750% D 31 0988030597099 REED 2.718 % TO MATURITY GVER REF w 62121008 81 TOTAL S75.281.632.14 $75.058.084.24 lee alaan fl ees 03 nx wee nay COW mew  Da Wiener. End of Statement 027 07/3104 06 al 007 VSS9 EFTA01320989 56rIZZOOV1.43 C) 0 ZT c l C in Your Portfolio at a Glance TOTAL VALUE OF SECUMTIES DNS PERIOD' 11.848,752 Market Value of Your Portfolio Cash a (evert 7120030 5228.003 LONG ACCRUED INTEREST 185.095 Cad s11N48.152 NET CREDIT WINCE 129,030 Mcome $12.394.691 NI Orel mere: value MET EQUITY THIS PERIOD 512,162.877 in Last statement" rrwket vete r NET EOM' LAST STAIWD4T 12.782.847 CHANGE S1YCE LAST STATEMENT -619.970 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams b Co. Mc. 383 Weep Avenue New York. New York 10179 REARED THOIDan ITS rat OwINID SerSiDern tea. Stews Swart* COT. Cr* Marta Crew Nene kcoi Nov rot 11201.3159 FINANCIAL TRUST CO INC ACCOUNT EXEO.MVE GOMA GOVT BONO VISIT OUR MOSHE melmenteams.com sumer memo May 29.2004 TwROXIA *re 30.2004 What's In This Statement Financial Summary 3 IlrrrllrttlKKlKlI 141 FINANCIAL TRUST CO INC ACCCX.PC WEER TAXPAYER NuW001 On FIN was ',Arnett may 29. 2004 Your Pcrtforio Holdings 4 WO JEFFREY EPSTEIN Transaction Detail 7 6100 RED HOOK QUARTER Your Messages 16 STE 83 ST THOMAS VI 00802 _ £0805£00 IND ANGS Tr Nero *err erns.* wars renew ter re rt trews *to er Ma el Look. Vd h WC 2**, To Nem There are no 'Stop Loss' orders or other pending buy or seO open orders on file for your account. Stec Tr Kneel* te. ernaetaiOnosti grittier( 'Tried M a In occerewt Tia Memel Orel et 'railed lot rex mart Sr MM Stew teen "teen 027 OTOI31713 31 Oct 5832 EFTA01320990 CLEARED THROJOH wHOLLY 081960 Su980.020 I18c Sun 5•54ss Cap. Ore liareact, Coln NeRit 8988 8 New 90111201.3859 FINANCIAL TRUST CO INC 96tat0O-Vin 0 z m cim z H r 170805£00 V\19 ANDS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 nrt, 31 13 r Col an EFTA01320991 L6VEZZOO- V1.43 BEAR STEARNS OFFICE SERVICING TOUR ACCOUNT Bear. Steams a Co. Inc. 383 Madison Avenue Nest N 10179 3 SIC Cash Flow Analysis 11115PCM0 Income Summary 11.15 flOD KAI TO CLUE Opening Balance 5228.002.64 U.S. GOV!. 8000 Int. 54,412.79 282,843.41 Secuties Sold 419,173,152.86 Govt Agency Int. 94%574.26 5,300,407.39 Corp. Bond Int. 186,097.96 1.213.666.52 Diddendsanterest 1.186.160.63 CrecR Balance Int. 75.62 231.92 0 Amount Credited Seositios Bought 5420.359.313.49 -420,287.071.09 Reverse Reptrchase Int. Total 42.351.06 51.228.511.69 63.359.97 56 860 509.21 -n DIvidencfsInterest Charged miscellaneous -170.765.02 450.00 Bond Puchase Inc mawn Inc Paid -170.765.02 0.00 -599.364.20 -1,770.70 Repurchase Int. Exp. -16.477.34 -75.603.22 C in Amount Debited Net Cash Ashy 5420.458.286.11 -98.972.62 Closing Salaries 5129.030.02 Portfolio Composition CeshfCash Equivalent 129.030 fixed Income 11,80.752 r Cash Balance Summary COOING 12109114 Total 511.977.782 _ 50805£00 IND ANGS Margin 228,002.64 12%030.02 NatCash Balance $228.002.64 5129.030.02 O22 0-fat 0 7,00.100.1111 V.A.O.re Ow.° SUM/Otafre 8.6s. Swans Semmes Ca0. One Metaten Cent Nteth Nat ma 11201.3659 FiNANCia TRUST CO INC STATIMIEW alF000 May 29. 2004 Eli/own kale 30. 2004 *rev tiT sUkeek Taxaavita NW& la CO TIM UST STATEMPit lAty 28.2004 Your Portfolio Allocation cash a EquhnleER 1% rmed hcome 99% 6enfut.1 %don Onto .1.0.` tuirit• Inft, eat -Lastry vat.... The ittot,:n ppeontige cen.e hy• oenava ruin* win )0.e awItaz 0)x1011031 001 Va32 EFTA01320992 0-faltE0 IHROuesi ITS %Thaw mean SUSSUARv ril 8 b.) b.) ,f; 00 0 -n C rn r 9080SEOCIA19- ANGS BEAR STEARNS orncE SERVIC1VG YOUR ACCOUNT Beer. Steams & Co. Inc. 383 Madeson Avenue v 10179 4 a • Your Portfolio Holdings CASH & CASH EQUIVALENTS DES(nnr se. !Mitt. CASH BALANCE 129,030 TOTAL CASH & CASH EQUIVALENTS 5129.030 SUMO ESTIMOD CURRENT wait A200.4 NCO.% ORO 00 EQUITIES Equities & Options ALLY OE an* SOAK.CUSIP trot COMMIT MKS PUT TV 31/8 05107 9258528 MRGN 50.000.000 One/iced EUROPUT STRK 99-20 DP 09/1312C04 Total Equities& Options V ESIWATED cume4 MOM InCOVE IEU) MO SO 50 TOTAL EQUITIES so so FIXED INCOME Government & Agency Obligations AW own STUSOUCUS, Mt FEDERAL HOME LOAN RUG CORP 31393013 MRGN SERIES 2530 CUSS SE DATEDDATE 10/11/02 BOOK ENTRY ONLY DUE 02/15/2032 6.161% FACTOR .30594407 OUVOTY Ss. Own Seamen co. Ont linzolun Cat Pan Mee Yen 1120bStSS FINANCIAL TRUST CO INC STATEI4Ek7 PERICO Miry 29. 2004 Tintantni Are 30. 2034 ACCOLArt 'amen ouneet want On Oki LAST STATtutniT May 28.2004 ACOVID csniutto WelOIT P ▪ • IMMO MA MOIST ANKtu. Iran TRIO MI 18.356,644 10.0831 1.850.914 47.124 1.130.953 61.1024 021 comuot13:31 op, Vt12 EFTA01320993 66b£ZZ0OVL33 O -n C in r _ LO8OS£00 IN9 ANGS BEAR STEARNS OFFICE SERVICM YOUR ACCOUNT Bear. Steams at Co. Inc 383 Madson Avenue New York. Now Tot 10179 8rI8 Your Portfolio Holdings (continued) Government & Agency Obligations (continued) otSCRirmos SYMBOUCUSP ACC, 00801TY PRICE WWII %AWE ACCZAD WRIST 13114080 RIDUAI910011E CLRREI0 nn0 1%1 FEDERAL HOME LOAN MTG CORP 31393F086 MRGN 7.874.136 8.9978 708.499 18.901 453,629 64.0268 SIRES 2526 PASS SI DATED DATE 1001/02 BOOK ENTRY ONLY DUE 02/152032 5.781% FACTOR - .30594406 FEDERAL HOME LOAN MTG CORP 313927132 MRGN 13,838,079 11.4123 1.579.242 38.985 935.593 59.2432 SERIES 2488 CLASS SO DATED DATE 07i06102 800K ENTRY ONLY COE 03/192032 6.761% FACTOR • .27676181 FEDERAL HOME LOAN MTG CORP 3139276E2 MRGN 15.964.976 8.7232 1.392.652 38.320 919,742 66.0425 SERIES 2483 CL St DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/1S/2032 5.761% FACTOR - .27878163 FEDERAL NATIONAL MTG ASSN 31393C2C6 MRGN 15.827,194 10.9989 1.740,814 12,530 902.150 51.8235 SERIES 2CO3•49 CLASS SW DATED DATE 04030/03 80:38 ENTRY ONLY DUE 01/26/2033 5.700% FACTOR - .65114376 TOM! 00RemmOnt& AgeTiCyObIigaliCtIS 57.272.121 5155.860 54,342.067 Otago 199908,091 nnia. 0009:0 84.81100.11% fke. Suers SeCuinn Cap. Cno Moran?, on Van I.,,V0pt Now rot „ 201.3859 FINANCIAL TRUST CO INC 8•99Esen nmoo May 29.2004 niRcLcm June 30. 2001 84004199 %Viontrt TAXPAYER POSAICR Qt File LAST STATE1Wa May 28, 2004 017 0%010%13 31 001 1612 EFTA01320994 =ARCO THROWN Ts WHOLLY MOOD SLILWOVAY BB\R STURNS (*Fa SERVICING YOUR ACCOLANT Bea. Steams & Co. Inc. 383 Madison Avenue Now York New Tot 10179 6 of • Paw, Saws Sonnet Cap. Cri MIWAICh C4WW IE Now YOH 112014859 FIKW4OAL TRUST CO INC STAW PEA= May 29.2004 0 -n Your Portfolio Holdings (continued) Corporate Bonds OCIERWDDII SPUISCOCUSP ACCI 119E OUENTITY POKY ..WIKI/ WW1 ACCRUED MEREST THOCOSH Jana 30.2804 acecour Noma MEEPADM women 01 Flie LAST WIATEIEDIT MN 28.2004 ESnaWit0 CURRENT AIMAL ION VELDN FANNIE MAE CMO/SERIES 2003-13 31392/082 RCR-90 FLTR DATED DATE 02/25/03 BOOK ENTRY ONLY CUE 03/25/2033 6.700% FACTOR - .62826539 Total ColnorateBonds MRGN 31,411267 14.5691 4,576,631 54.576.631 29.235 529.235 2.104,689 52.104.689 45.9877 TOTAL FIXEDINCOME $11.848.752 5185.095 56.446.756 C rn YOUR PORTFOLIOHOLDINGSACCRUED I MEREST 5185.095 YOUR PORTFOLIONOLDINGSESTIMATE0 ANNUAL INCOME 56.446.756 YOUR PRICED PORTFOLIOHOLDINGS 511.977.782 r 8080SEOCIN9- ANGS Repurchase and Reverse Repurchase Transactions with Bear,Steams& Co. Inc. outstanding as of date of statement ;WNW START OAR REPURCHASE DATE KILNS MR FIERCINSE PNCE/ POMONA COWED RON INTENSE' NWT NAM WOUND CUSP DESCRIPTOR YOU SOLD GOVERNMENT NATIONAL MTG ASSOC (REPO) 04/08104 07/08/04 1.340 -8.258.000 -25.820 -10,000,000 38374F0/2 SERIES 2004-2 CLASS S 11.8950 ount34 YOU SOLD GOVERNMENT NATIONAL MTG ASSOC (REPO) 045/01/04 07/0104 1.325 .4.345.000 4,797 44.000,000 38374FDB7 SEWS 2004-5 CLASS P 5.670002/20/33 021 07001/C4:1431 W1 NR2 EFTA01320995 I 05EZZOO-V.L.43 BEAR STMRNS OFFCE SERWRIG YOUR ACCOUNT Bea. Stearns & Co. Inc. 383 Madison Avenue Now York. New Yak 10179 7 a 0.9-.9990 mitax3r, rts wrrxtr OM.ED 6.630,099 am. Sums Scant Carp. Dra Vercach co ?MT &GA, IHYMt 11201.3669 FINANCIAL TRUST CO INC STATENE9T 92.900 May 29. Moe Repurchase and Reverse Repurchase Transactions (continued) with Bear, Stearns& Co.Inc. outstanding as of date of statement (continued) POROUS° RMCINSI pea60 99009991 NOCE/ 9098.6D IMO 0.90/99r START DAR 0.UI PAR POMP% MODOIC1) CL60 T9ROUM 2.9* 30.2004 ACCOMT MAW TAIOTAyTTA NUTENA On Pb LAST STAMM May 29, 200E CESCOPTCH YOU SOLD GOVERNMENT NATIONAL MTG ASSOC (REPO) 0671410E 07108104 1.340 -2,072,000 -1.311 .44.38D962 38374FCM4 SERIES 2004-2 CUSS S 5.9475 01/16/34 YOU SOLD FNMA-SMBS PRINCIPAL ONLY (REPO) 06/30/04 07/01/04 1.325 -1,744.350 -64 -15,000.000 3136FALOT SERIES 322 CLASS PO 03/01/32 - O YOU BOUGHT USTR 3.1260 05/15/07 (REVERSQ 06004/04 OPEN 0.900 25.062.500 13.178 25,000.000 912828CO3 YOU BOUGHT USTR 2.750006/3006 rn IREVERSE) 06/30/04 OPEN 1.100 100.125.000 3.059 100.000.000 912828CM0 TOTAL REVERSE REPURCHASE TRANSACTIONS 5125.187.500 516.237 TOTAL REPURCHASE TRANSACTIONS 5.16.419.350 3.31.992 •A. It MSWI Transaction Detail r _ 60805£00 IN9 ANGS INVESTMENT ACTIVITY 1011.10LNT MADE DATE DTrz ansgroi OP300911014 06101/04 05/26/04 SOLO UNITED STATES TREASURY NOTE CUE 05/31/2006 02,500% IN 31 0988016192099 VELD 2,366 %T0I/AWRITY GVIR REF • 41471007 AS AS Cf 05/26/04 SYMBOtAXISP 912B28014 -25.000.000 99.87200 ACCR. 01.09CITY MCI OM MOO CMmO ALIOUVr 24.968.000.00 1.707.65 027 C069.09:1361 031 9132 EFTA01320996 CLEARED THROUGH ITS vooTtre ONT2J1SUOMPARY -n C in z r 0T805£00- O19- ANGS 8 b.) IJ TO 0 IJ BEAR STEARNS OFFICE SEAMING MR ACCOUNT Bear. Stearns & Co. Inc. 383 Madson Avenue New York. New York 10179 Bas Transaction Detail (continued) INVESTMENT ACTIVITY (cor4inued) SATIUSENT TRADE art OATE TRANSOMS, oescapncei 06/01/04 05/26/04 SOLD SW113110.6, OUNM, 912828084 .50000.000 UNITED STATES TREASURY NOTE DUE 05r31/2006 02.5500% NW 31 0988016192099 O VELD 2.565 % TO MATuRITY VER REF 01471007 85 AS OF 05/26104 06/04/04 06/03/04 SOLD UNITED STATES TREASURY NOTE DUE 05/15/2E07 03.125% MN 1$ 0988018192099 VELD 3.158% TO maTuRRY OVER REF r 01551008 Al 06/04/04 06/03/04 SOLD UNITED STATES TREASURY NOTE CUE 05/31/2006 02.500% MN 31 C468000592099 YEW 2.618 14 TO PMTURITY GYER sr 01551009 Al 912828CG3 -25.000.030 9128280(.4 -25.000.000 06/09/04 05873/04 BOUGHT PUT TSY 31/8 05107 9258526 50000.000 EUROPUT STRIC 99-20 ExP 08/13/2034 ORIGINAL 5/0 06/04.04 AS 0 06103/04 FEDI. HOME LOAN MTG CORP4S03602 3128HVA85 .2.636.265 SERIES 223 CUSS PO DUE 12/01/2032 0987027414332 REF A' 2004081067690000 85 06/1004 06/10/04 SOLD MR Son Storbe, en Ow tieritSech Caner Not SnolAn, Mr Yak 1120141711 FINANCIAL TRUST CO INC STATIVIOrt PIPtICO May 29. 2004 THROUGH AO* 30.2004 400/0407 MASTER ?MATRA MAW, On Fie LAST swayer ?Jay 2% 2004 MCC CM MOUNT CROW AMOUNT 99 67200 49.936.03000 ACCR. INT. 3.415.30 99.90625 24.976.562.50 ACCR. MT. 42.459.24 99.77344 24.943.359.38 AOCR. INT. 6.830.60 0.71094 355.468.75 72.06250 1.899.758.47 06/15614 PRINCIPAL FEDERAL HOME LOAN MEG CORP 3139216E2 -815.870 SERIES 2463 CL SL 5 900 DUE 03/15/32 PkroCPAL REDUCTN 0%15-04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 313927/32 -707.179 SERIES 2488 CUSS SO 6.900 DUE 03/15/32 PRINCIPAL REDUCTN 06-15-04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 31393FAF3 -938.179 SERIES 2530 CL4SS SE 6.300 DUE 02/15/32 FRMCPAL REDUCTN 04-1544 06/15/04 06115/04 027 07/01/04:1231 001 11032 EFTA01320997 E05EZZOO- VL43 0 m cim r TT80S£00 IND ANDS BEAR STEARNS OFFICE SERICSG YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New Yolk New York 10179 9 Transaction Detail (continued) INVESTMENT ACTIVITY (contirwed) MUNN, Mai. OAR OAR TitUR4C110.0 Ofsenor M a cy. 06115/04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 31393F686 SERIES 2526 CUSS SI 5,9C0 DUE 02/15/32 PRINCPAL REDUCER 05-15-04 08/15/04 PRINCIPAL FEDI. HOME LOAN MEG CORP/403602 3128INA8.5 SERIES 223 CLASS P0 CUE 12/01132 PRIN R/D C6-04 EY0 06-15-04 REPO P 6I 0.0000 06;18/04 PRSICIPAL GOVERNMENT NATIONAL MEG ASSN SOWS 2004-2 CLASS SG 12.200 DUE 01/16/34 pRIN RA) 06-04 P/D 06-1604 REPO P 61 12.2000 08/25/04 05/24/04 BOUGHT 38374FCN2 UNITED STATES TREASURY NOTE 912828CK4 098 DuE 05/31/2006 9 02.500% IA1 31 801619209 YIELD 2.658 %TO MATURITY GVER REF 0 61761027 A3 06/25/04 0/0(4Rµ BOUGHT UNITED STATES TREASURY NOTE 912828CK4 DUE 05/31/200602.500% MN 31 0988016192099 GVE YEW 2,658 % TO imTURTN R REF 4 61761027 83 CISME° !Moroi MI w4OLN One. SveynNY Beer Sun Stsviun Cap. n Wenn toner Pin Intri Nw at 20 .3ttS0 FINANCIAL TRUST CO INC sunup." PelbCO May 29.2004 114.008.4 lime 30.2004 0.wilw ACCCowl MAWR TAxpAret inn MT STArcuper DIST aid On He wry 28. 2OO4 CROW WON'T -402.434 97.95070 86.358.20 . . . 50.000.000 99.70313 49,851,582.50 ACCR. INT. 85.382.51 50,000000 99.70313 49.851.562.50 ACCR. INT. 85.382.51 06/25/04 PRINCIPAL FEDERAL NATIONAL MEG ASSN 31381101.01 227.462.55 STRIP WC SUES 322 CL PO 0.001 DUE 03/01/32 ERIN ND 05-04 RD 06-25404 REPO P &I 0.00:0 06/25Aµ PRINCIPAL FANNIE MAE CMO/SERIES 2003-13 31392J0K2 -951.594 S RCR-b13 FUR 6 900 DUE 03/25/33 FitSCIPAL REDUCIII06-25-04 08/25/04 PRINCIPAL FEDERAL NATIONAL MEG ASSN 31393C2C8 479,449 SERIES 2003-49 CLASS SW 5.900 DUE 01/25/33 PRINCIPAL REDUCER 06-25-04 021 07/31/04:11-31 001 4832 EFTA01320998 CLAMED THROWN ITS vAtar Omen SLILS10Mer En 8 D.) IJ -n C in z J r ZISOSEOCIN9- ANGS BEAR STEARNS OFFICE SERVICING YU" ACCOUNT BOK Stearns & Co. Inc. 383 Madison Avenue New York. New Yak 10179 10 art Transaction Detail (continued) INVESTMENT ACTIVITY (coreinuore surtnert OM 3610E DAR 1VONSECON COCRIOOM 5196040.199 MAMMY PRICE 06/30104 06/24/04 SOLD UNITED STATES TREASURY NOTE 912828010 -50,000.000 100.06250 DUE 06130/2006 02.750% ID 30 0988016192099 YIELD 2,718 11 TO MMIIRRY GVER REF 4 61761023 At 06/3004 0624/04 SOLD UNITED STATES TREASURY NOTE 9128280.00 40.000.000 100.06250 DUE 05/30/2006 02.750% ND 30 0988016192099 VELD 2.718% TO MATURITY OVER DU EP G1761023 Bt TOTAL i • • 00.229.358.77 INTEREST DATE CESCOPTIDN MIABOUCLISIP RATE (9i 01111 AMCOR CADDO MUM 06/01/04 AVG 8AL 325.401RT 0.270 75.62 021 OFFICE MEREST 0504 06115/04 FEDERAL HOME LOAN MTG CORP 31392R6U0 1.0000 24.081.17 MRCS 2471 CUSS VT DUE 03/152032 1.000 MT Re 05-04 ND 06-1504 REPO P I 1.0000 06/15/04 FEDERAL HOME LOAN MTG CORP 3139276E2 5.9000 82.505.83 SERIES 2463 CL SL WE 03/15/2032 5.900 MEREST PAYMENT 0645-04 06/1 S/04 FEDERAL HOME LOAN MTG CORP 313927/32 6.9000 83.635.26 SERIES 2488 CLASS SO DUE 03/15/2032 6.900 INTEREST PAYMENT 064544 06/15/04 FEDERAL HOME LOAN MTG CORP 31393FA3 6.3000 101.207.82 SERFS 2530 CUSS SE DUE 02/15/2032 6.300 INTEREST PAYMENT 06-15-04 Mar. Steins Septa Cap. One /AAVOAAA On Moth ervotho Mew Von 11201.3859 FINANCIAL TRUST CO INC seATCAMer MOOD May 29.2004 Tweecean lune 30. 2004 ACCOueT .0~ TAxe.weR Apnoea On The LAST STATZEtem may 28 2004 DEM AMMO MIMI MADAM 50.031.250.00 D27 50.031.250.00 5227.252.364.59 07/0104:1 :31 OM VOX/ EFTA01320999 ril 8 LA IJ BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Beer. Stearns b Co. Inc. 383 Madson A444 Now Yort. NEW Yak 10179 11 o •s CLEARED THROuGN ITS MACAO 0V041) SUSSOIMY Dm Siena 54/Arlim COCIL 14:444 CANN MT is raw Tat i1201-3r9 FINANCIAL TRUST CO INC STATES/01T PEMCO may 29.2004 mecum Arse 30.2004 Transaction Detail (Continued) INTEREST (continued) ACCOUNT MASS TASKS µNgU 00 Ft LAST STATEMENT ay 28.2004 OM DESCO09141 SYSSOLCUSP CitIMMTV WE (41 KW Sr Mop Amen 06/15704 FEDERAL ROME LOAN MTG CORP 31393FG88 5.9000 40.69114 SERIES 2526 CLASS SI DUE 02/15/2032 5.900 INTEREST PAYMENT 06.15.04 06/16/04 GOVERNMENT NATIONAL MTG ASSN 38374FCM4 6.1000 219.760.82 SERFS 2C04-2 CUSS 58 DUE 01/16/2034 6.100 NI RA) 06-04 PID 06-16-04 -n 06/16/04 REPO P A I 6.1000 GOVERNMENT NATIONAL MTG ASSN SORES 2004-2 CLASS SG 38374FCN2 12.20:00 99.926.90 WE 01/16/2034 12.200 C Ea RD 06-04 RID C6-16.04 in 06/21/04 REPO P 6I 12,2000 GOVERNMENT NATIONAL MEG ASSN SERIES 2004.5 CUSS PS 38374F087 5.8500 214400.00 WE 02120,2033 5.850 MT MD 054E P/0 06-20-04 REPO P & I 5.8500 08/25/04 FANNIE MAE 0.105ERIES 2033-13 S RCR-P0 FUR 31392J0K2 6.9000 186,097.96 DUE 03/25/2033 8.900 MEREST PAYMENT 06.2544 r 06/25/04 FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS Sw 31393C2C6 5.9000 80.174.33 DUE 01/252033 5.900 MEREST PAYMENT 06-25-04 TOTAL 51.131.747.84 ET805£00- O19- ANGS 021 WADI ra• 1) )1 001 '432 EFTA01321000 En IS b.) Ia La BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York. New York 10179 12 a .6 Transaction Detail (continued) CLEARED INROUGN 118 wets, °MED SU8S010tY Mit Dom Manion Cop. Cr* wawa. yaw NOM Net at HO FINANCIAL TRUST CO INC STATEMENT PERO) may 29.2004 mon.. Ana 30. 2004 AO:Ctaa NoweER TWA! IE NumleR Q\iIIC REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS we STATEMENT May 28. 2004 with Bear,Steams& Co. Inc. 0 -n SMOAK MCC DATE DATE 06/01/14 06101104 08/01/04 C rn 06/01104 0610104 r 06101/4 0601104 VT 805£00- O19- A NOS T%U6ACtVI DESCRIPTION SYMEIOVOZIP CONON ten maw CREDO MOUNT JOURNAL FEDERAL NATIONAL MTG ASSN 3136FAL01 4344.651 3,241,030.03 SW AIM SERIES 322 CL PO 0001 . DUE 03.01132 MIA F1313223 AZ TERM REPO AGREEMENT JOURNAL FEDERAL NATIONAL MTG ASSN STRP MTG SERIES 322 CL PO 0.001 DUE 03/01, 32 FITI.4 F1533204 Al REPO AGREEMENT 3136FALCI1 -4.744.651 3,297.03000 JOURNAL FEDERAL NATIONAL MEG ASSN STRV MEG SERIES 322 CL PO 0,001 DUE 03J01/32 RIM F1533204 AT REM AGREEMENT 3136FAL01 4.744.651 3,297,000.00 JOURNAL FEDERAL NATIONAL MTG ASSN STRPIATG SERIES 322 CL P0 0.001 DUE 03411132 FITM 11533204 A.3 REPO AGREEMENT 3136FALQ1 -4.744.651 3,297.00003 JOURNAL GOVERNMENT NATIONAL NM ASSN 38374F067 44,000,000 4.300.000.00 SERIES 200E-S CUSS PS 5.850 ME 02220/33 MIA F1463235 AZ TERM REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL MID ASSN 38374FDB7 -44.000000 4,345,000.00 SERIES 2004 5 GLASS PS §,850 DUE02/20/33 MIA 11533207 Al REPO AGREEMENT RECEIVED UNITED STATES TREASURY NOTE 9128280(4 75.000.000 75.187.500.00 DUE cdoidoeili 2.500 2.500 DUE 05/31,06 RDA F1530545 Al RESALE AGREEMENT OS, 07/01.34:13:31 EFTA01321001 rn IS IJ IJ -n C in r STSOSEOCIN9- ANGS BEAR STEARNS orra SETNICNG YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madoon Avenue New York, New York 10179 13 one Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (centium0 SETTIDAENT TRUE CAN DATE flONSACOON [ocean:v.4 SOSIOUCIAIP OVNITIN CEBII NASUM CRIXO AMOUNT 06/01/04 INTEREST FEDERAL NATIONAL MTG ASSN 3138FAL01 2.574.79 SIR' MTG SERFS 322 CL PO DUE 03/01/2032 0.001 FM F1313223 AZ REPO INTEREST 06/01/04 INTEREST GOVERNMENT NATIONAL MTG ASSN 38374087 1,088.94 SERIES 2004.5 CUSS PS DUE 02/20'2033 5.850 FITM F1463238 AZ REPO INTEREST 06.004/04 RECEIVED UNITED STATES TREASURY NOTE 912828003 25,000,000 25062.500.03 DUE 05/15/2007 3.125 1,125 DUE 05/15/07 EOM Fl 560700 Al RESALE AGREEMENT 13810404 OEUVERED UNITED STATES TREASURY NOTE milack4 .75.CCO000 v 75,187,500.00 DUE 05/31/20:8 2.500 2.500 DUE 0931/06 RDA F1530545 AZ TERM RESALE AGREEMENT 0810404 RECEIVED UNITED STATES TREASURY NOTE 912828CK4 100.000.000 1C00:0.CC0.00 DUE 05/31/2006 2.500 500 DUE 05/31/08 2, FIIM F1560720 Al RESALE AGREEMENT 069404 INTEREST UNITED STATES TREASURY NOTE 912828CX4 4.323.28 DUE 05/3112006 2800 FONT F1530545 AZ RESALE INTEREST 06/10/04 JOURNAL FEDI. NOME LOAN MTG CORPOS03602 3128HVA85 2.838.265 SUES 223 CLASS PO DUE 12/01/32 FIN F1453171 A2 TERM REPO AGREEMENT WARES mAcucel ITS ww0J. WALD SuINClutY Ow Stuns $7,72024 Cap. Ort Osintea Oros math Se km lvt 112014(459 FINANCIAL TRUST CO INC s1Atilliper 'MOD May 29. 2004 7749CNON lure 30,2C04 ACCOuNT Nada Marta Nue On Flit LAST STANDAR/7 Nay 28.2004 027 07/01.1t13:3I 001 VIII EFTA01321002 0 -n rn r 91805£00- IA19- ÅNGS BEAR STUkRNS OFFICE SERVICING YOUR ACCOUIT Bear. Stearns /4 Co. Inc. 383 Madison Arena New Yoik. New Yak 10179 14 s Transaction Detail (Continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (corxwle0) SEITLOACTIT tua art art TINNSACT1DN DISCR0TON 06/10/04 JOURNAL FEDL HOME LOAN MTG CORPAS03602 SERIES 223 CLASS PO DUE 12/01/32 FTI34 F1623220 Al REPO AGREEMENT 08/14/04 JOURNAL FEDI. HOME LOAN MEG CORP4S03602 SNAFS 223 CUSS PO DUE 12/01/32 INA F1623220 A2 TERM REPO AGREDAENT 06t14/04 JOURNAL GOVERNMENT NATIONAL MEG ASSN SERFS 2C04.2 CLASS 5B 6.100 DUE 01/16/34 FIN F1663239 Al REPO AGREEMENT 06/14/04 JOURNAL GOVERNMENT NADONAL MTG ASSN SERFS 2004.2 CLASS 58 6.100 DUE 01/1644 FILM F0993100 A2 TEl REPO AGREEMENT 06/14/04 MEREST FEDL HOME LOAN MTG CORPPS03602 SERIES 223 CUSS PO DUE 12/0112032 0.000 FILM F1623220 42 REPO INTEREST 06/14/04 INTEREST GOVERNMENT NATIONAL MTG ASSN SERIES 2034.2 CUSS SB DUE 01/16/2034 6.100 Rim F0993100 A2 REPO MEREST CLEARS/ TIMIAN ITS VMOLLY teneD SuliSIDVAY Dar. Sate SiaMin Cap. On' Ilireeta Corte Wen Drtotin New eon 1120148SP FINANCIAL TRUST CO NC STAnueNT M9OO May P9.2004 namuCol Are 30.2004 ArCONT MAIMS TAMmTER /MAWR On nle LAST STATtursi mes 28.2004 SW/PUPS OT/XIITT DONT M.0.00 CatOrl MAW, 3128HVABS -2.638.265 250.000.00 3128134085 2.636285 250.030.00 38374FCM4 -43.231436 2072.003.00 38374FCM4 43.231.636 3,712,000.00 3128HVA85 39.20 38374FCM4 e257.32 0625/04 DELJVMED UNTIED STATES TREASURY NOTE 912828CK4 -100.000.000 100.000.000.00 WE 06/31/2005 2.500 2.500 OuE0541.03 MA F1560720 A2 TERM RESALE AGREEMENT 0/1 07,01/04:1301 001 1•32 EFTA01321003 Fn IJ Lel 0 -n C in r LI80SE00- O19- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Beal. Steams & Co. Inc. 383 Madison Menus New York. New York 10179 15 n'1 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) 4411lllatin TRADE DAR DATE ITIAIGACTON CESObIliON 06/2=4 SYWOUCUS. =Ann TnnOtiOn ni v0404 D.Vni.0 9.11110war Sum Seats 00 Ltecrointh Cant. 4.3* aC . uric 112014438 FINANCIAL UST CO INC STATImenir PlitC0 May 29.2004 THRoinn nine 30.2004 ACCCusT NUNS TAxPAYEA 'Wheat On FY LAST sTArroper May 28.2004 Dam mama moo &MOM" INTEREST UNITED STATES TREASURY NOTE 912828CK4 38,027.78 DUE 05/11/2008 2.500 FITM F1560720 A2 RESALE POEM! 06/29/04 JOURNAL ADP CD 8888888 1.740.000.00 FMA-PR F1813241011 8.625 DUE 12/31/49 2074420692 08129/04 JOURNAL ADP CD 8888888 1,740,000.00 FITM-PR F1813241012 8.625 DUE 12/31/49 2074420692 06/30/04 JOURNAL FEDERAL NATIONAL MEG ASSN STRP ISO SERIES 322 CL PO 0.001 DuE0301/32 EOM F1823319 Al REPO AGREEMENT JOURNAL FEDERAL NATIONAL Lac ASSN STRIP TATO SERIES 322 CL PO 0031 DUE 0101/32 ATM F1533204 A4 TERM REPO AGREEMENT 3136FAI01 4.517.189 1,744,350.00 06/30/04 06/30/04 RECENED UNITED STATES TREASURY NOTE DUE 06/30/2006 2.750 2,_750 DUE 06/30/06 arm F1821036 Al RESALE AGREDAENT 3136FAI.01 4.517.189 3.297.000.00 912828003 100.000,000 100.12=03.00 06/30/04 INTEREST FEDERAL NATIONAL MTG ASSN 3136FALI)1 3,519.09 STRP MK SERIES 322 CL PO DUE 0101/2032 0.001 FIN F1533206 Al REPO MEREST TOTAL S-320.228.477.34 5191.975201.06 017 070144 1.3 31 col Y832 EFTA01321004 DIEEEED AROMA In NICELY OWNED SUBlimaY rri 8 IJ IJ LA 0 -n C in r 8T 805£00- O19- A NOS BEAR STEARNS OPTICS SERVICSVG YOUR ACCOUNT Bear. Steams & Co. he. 383 Madden Avenue New York. Nee York 10179 16 a is Transaction Detail (continued) MISCELLANEOUS DAN ADDAX TRANS/EDON OEJ14/04 JOURNAL TOTAL ascended MAY 04SPEC CLEARING FEES Mart MOM 450.00 ar m MOM 5-450.00 Your messages We' Notice Regarding a Chang, in The Statement of Interest Charges Pursuant to the TTruth-in4Anding" Rule 10 (b).16 Regarding Short Sales And Marking•To•The-Market Effective no earlier than thirty (30) days from your receipt of this statement. we well 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 against the box) is offset by a debit of like amount because Bear Steams Securities has to banter 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 (0 up to 105% of the settled short market value of such short sales (across all curencies). which shall be calculated daily, and (II) the proceeds of such short sales. End of Statement 9.6%51S Sseelka Cap One Ihnousn Cent NW. isiseg 112014359 FINANCIAL TRUST CO INC STAITACE7 DENOD WE 29.2004 TWICUCIM lune 30.2004 ACCOUNT POWER TWNAVER NAMER On fie LAST STATIVAIDC May ze. 2004 Any short positions in your account will be kept 'marked-to-the market. This means that periodically the balance maintained in the short account will be adjusted to equal the market value of the Sh011 sea:lees. Securities that are priced below five dollars per share may be valued at five dollars per share For short marking-to-the market purposes. If a security has been sold short (or sold short against the box) and has appreciated in market price over the selling price, interest will be charged on the amount of appreciation; if it depreciates in market price, interest will be correspondingly reduced by the drop in yak*. The appreciation or depreciation of securities sold short will be determined by Bear Steams Securities based upon daily Closing prices a quotations provided by pricing services, as applicable. or upon such factors as Bear Stearns Securities in its sole judgement deems pertinent. Please note that the other sections of the Truthinanding" disclosure previously provided to you remain unchanged. 027 ODOVO4.13 31 COI W.32 EFTA01321005 I ISE-ZOO-Vida BEAR STD‘RNS OFFICE SERVICING YOUR ACCOUNT Beat. Stearns 4, Co. Inc. 383 MASCO Avenue New Y New York 10179 CALAREO naitclwm fR MOLLY COSMO S&. ASV Dm Swans Satin Cos. ISactach Cams Koss Pacer. Pa York 1120148.59 FINANCIAL TRUST CO INC STATEreaer PERIOD Wry 1, 2004 nappy May 28.2004 ACCOUNT E.VECUINE GNMA GOVT BOND VISIT OUR WEBSITE evw4bearsteamscom What's In This Statement If It I I I II II ILI ACCelte XLMIER TAXPAYER IS.NOCR Out file LAST sTAMIEST Agri 30.2004 Financial Stant:my 3 FINANCIAL TRUST CO INC Your Portfolio Holdings 4 C/0 JEFFREY EPSTEIN Transaction Detail 7 6100 RED HOOK QUARTER Trades Not Yet Settled 17 STE B3 0 ST THOMAS VI 00802 -n C rn r 6T80S£00 INS ANDS Your Portfolio at a Glance cash Equineerc Market Value of Your Portfolio " 2" 3 TOTAL WHIM OF SECURITIES THIS PERIOD 12.394,691 S-12.163 LONG ACCRUED ritEREST 160.153 NET CREW BALANCE 228.003 Move S13.163.012 Current market tube NET EQUITY Mae PERIOD 512.782.847 Last statements market value Q Snort market value NET EQUITY LAST STATEMENT 13.363.739 CHANGE MOE LAST STATEMENT .580.892 There are no 'Stop Loss" orders or other pending buy or sell open orders on rile your account. grc ne tuns try R ftt Irfterrwlccl OtrpOS44 OW It It aft telefIS ISI tax ticonlent. 'IN niteman Soda be MASS t yew nubs* Sep mars SSW troorWt Strysattes 027 03¢904.1212 CO1 \VW EFTA01321006 CLEARED nexuroi ITS WHOLLY Crate 11ASDARY Dub SURDS SeatiliS a DERoisch Car MDT Msh 112014/69 FINANCIAL TRUST CO INC -n z C in z -H r 0Z805£00- O19- ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE OIE O$QW6.:120i 001 nn EFTA01321007 BEAR STEARNS VINCE SERYICNG YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madeon Avenue New York New York 10179 3 e. • e Cash Flow Analysis OlS PERM Income Summary MOO= WAR TO Oat Opening Balance 5-12,162.87 U.S. Govt. Bond Im 61.388.53 228430.62 Gan. Agency Int. 978.422.27 4,354,833.13 Securtdes Sold 314,135191.84 Corp. Bond Int. 195,447.99 1,027,568.56 ONIdendsnmerest 1,235,353.40 Credit Balance Inc 86.61 158.30 Metedlancet:, 32.031.25 Reverse Repurchase M. 17,701.39 21.00691 Amount Credited 5315.402.576.49 Total 11.253.054.79 SS 831 997.52 ii Securities Sought Ohidendsanterest Charged 414,951,505.27 -209.405.71 Bond Purchase Inc. Macon Inc.Pad 409.405.71 0.00 -428,599.18 -1,770.70 C in kaseelaneouS Amount Debited 4.50600 5-315.182.410.98 Repurchase Int. Exp. -11.508.39 -58125.88 Net Cash Activity 240,165.51 Portfolio Composition ClosingBalance 5228S:02.64 CasIVCash Equivalent 228.003 Mad Income 12494.691 r Cash Balance Summary Total 512,622.694 COOVIG CLOWC Margin -12.162.87 228.002.64 Net C.ISh Salente 5.12.162.87 5228.002.64 TZ8OSEOCIN9- ANGS 023 auto, TARCMAN ITS MCA:, 0A1E0 SIANDWIT tor. Sur* Nowt; Cap. Coo Mot n CourNew% Po ow two, r N 11201.3559 FINANCIAL TRUST CO INC STATEMENT Popp May 1.2004 TSM0UGH May 29.2004 ACCOwer SOWER TAxPAYDI µaKR On lie LAST STATONNT Apnl SO. 2004 Your Portfolio PJlocation Cash & EQutibletit 1% — Fowl OCCMO 99% to•h•OW acetala Ora* am, tuba* want vat swam ae.tat Trio •15.54.• ••rtalY.P • . 4,44 bp, In iamb", HM ate tf ••• •C•0•0 0521034.12 32 0C1 7811 EFTA01321008 =ARID THROWN ITS wHOLLY OnTED SulHOMY rn 8 b.) IJ Lel 0 -n C rn r MOSEOCIN9- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOuVr Bear. Steams 8 Co. Inc. 383 Masson Avenue New Yolk. New Yak 10179 4 '7 Your Portfolio Holdings CASH 8 CASH EQUIVALENTS DISCRIF110.4 CASH BALANCE TOTAL CASH & CASH EQUIVALENTS 5228.003 SwiloutirAP Wadi ESTIMATED CURRENT CUANDIV Mut mimat INCOME DELO {.4 228.003 FIXED INCOME Government & Agency Obligations DESCRIES:a SHISOL/CUSIP ACCT COMM PRIZE Meal YAWL =atm MUM ESTIMATED AMU& Dan CURRD/I YIELD CV FEDERAL NOME LOAN MTG CORP 31393FAF3 MRGN 19.294.823 10.1223 1.953.080 43.896 1.215.574 62.2388 SERIES 2530 CUSS SE DATED DATE 10/11/02 8001E ENTRY ONLY OLE 02/1 3 6.300% FACTOR -.3.321580388 FEDERAL HOME LOAN MTG CORP 313931086 MRGN 8.276.570 9.0531 749.287 17,635 488.318 65.1710 SERES 2526 C1ASS SI DATED DATE 10001/02 BOOK ENTRY ONLY DUE 02/15/2032 5.900% FACTOR - .32158037 FEDERAL HOME LOAN MTG CORP 313921/32 MRGN 14.545.258 11.4010 1.658.299 36.240 1.003.623 60.5212 SERIES 2488 CUSS SO DATED DATE 07/08/02 BOCK ENTRY ONLY DUE 03/15/2032 5.9C0% FACTCR —.29090621 FEDERAL HOME LOAN MEG CORP 3139216E2 MRGN 16,780646 0.7571 1.469.512 35.753 990.070 67.3741 SERIES 2483 CL SL DATED DATE 07/02/02 BOOK ENTRY ONLY CUE FACTOR 01/1512032 5.91900% . .290905 027 0142194:1832 001 41131 Cr* MrovUxn Pew Math Rye Tort 11201.380 FINA NCIAL TRUST CO INC STATImera PRI•00 May 1. Ma THROWN May 28.2004 AMOUNT siaea TAXPAYER KAMER On Ale LAST arrunicia April 30.2004 EFTA01321009 0 m cim H r EZ805£00- 019- ANGS BEAR STERNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. kic. 383 Madison Avenue Nest York. New York 10179 Your Portfolio Holdings (continued) Government & Agency Obligations (writnuer) 015CRSOD11 SYLISOLKIJSIP ACC ow OUMMTI Mat frnbcY1 YAWL AOCMJED MEREST /311VATED MINUAL MOW CURRENT Y100 FEDERAL NATIONAL MTG ASSN 3139302C6 MRGN 16.308.643 11.0890 1.808.245 8.019 962.092 53 SERIES 2003-49 CUSS $w .2058 DATED DATE 04/30.03 BOOK ENTRY ONLY DUE 01/292033 5.900% FACTOR - .67086868 Total Government& Agency Obligations 57.638 423 5141.543 54 659.677 Corporate Bonds OtSCRP/Kad SOASOUCLeUP ACC? TYPE Cuomo tAICS MARKEY YAM( rano" INTEREST LITIMATCO Mina MOW CURRINt WILD MI FANNIE MAE CASYSERWS 2033-13 313921/K2 MRGN 32.364,861 14.6958 4.756.268 18.610 2.233.175 48.9523 $ RCIT-VO FUR DATED DATE 02125/03 BOOK ENTRY ONLY DUE 03/25/2013 6.900% FACTOR a .64729726 Total Corporateeonds $4.7%288 $18.610 $2.233.135 TOTAL FIXED INCOME 512.394,691 $160.153 56.892,852 “f-mta0 InsIty)f )4 MI amOLL WNW SUBSCARY Oar Sinn Scottie; Cop. Ow Manaan Goo North Skaadr. Sew Yen 11201-3859 FINANCIAL TRUST CO INC VaTEmEHT aira0a May 1, 2004 TN 04.3m May 28. 2004 AGO0tta MAMER Taxman SOMA On File Liar Stan:MDR Aml 30. 2004 YOUR PORTFOLIOHOLDINGSACCRUED INTEREST $160,153 YOUR RORITOUOHOLDINGSESTImATED ANNUAL INCOME $6,892.852 yOuR PRICEDPORTFC Lie DI Ncs $12.622,694 001Staa.1 a 32 cot '41331 EFTA01321010 CLEAC'ED netouom rrs WHOLLY ONtO 111A31931.12f 9 I SI:ZZOO- V1d3 BEAR STMRNS OFFICE SERVICING TC/J12 ACCOUNT Beat. Steams b Co. Inc. 383 Madison Avenue Now Tort New York 10119 6 al? W. Sion Sean*. CC M. Coe /Aeltatar Espy Norm S Iettlrert 11201,31139 FINANCIAL TRUST CO INC Repurchase and Reverse Repurchase Transactions with Bear,Stearns& Co. Inc. outstan ding as of date of statement PlifiCHASEJ INPURNASE WPC PORIRIASE AIXAUE0 REPO WE DAN Get MTE MKT% INEIRIESP *NM flu IMOWOT oar STATElie:r REMO May 1.2004 ThIROUGN May 28.2004 ACC'"? 34V10011 ?Ax mpt MAtER 011 ne nr 2vrur AGRI 30.2004 OISCRINICN YOU SOLO (REPO) 04/08/04 07/08/04 1.340 -3.712.000 -7.461 -44.389.962 38374F044 GOVERNMENT NATIONAL LUG ASSOC SERIES 2004-2 CLASS S 6.1000 01/16/34 0 YOU SOLD (REPO) 04/08/04 07/08/04 1.340 4.258.000 -16.598 .10,000.000 38374FCN2 GOVERNMENT NATIONAL MTG ASSOC SERIES 2004.2 CLASS S 12.200001/16/34 -n YOU SOLD (REPO) 05/10/04 06/01/04 1.300 -3.241.000 -2.574 .15.000.030 3136FAL01 FNMA-SMBS PRINCPAL MAY SERIES 322 CLASS PO 03/01/32 C in z J YOU SOLD (REPO) 05/24/04 OPEN 0.000 YOU SOLO (REPO) 05/25104 06/01/04 1.300 -1 .4,300.000 .1.086 4.000,000 .44000.000 3128HVABS 38374F087 FHLMC- STPJP PRINCIPAL ONLY GOVERNMENT MTIONAL MTG ASSOC SERIES 2004-S CLASS P 5.85000220/33 TOTAL REVERSE REPURCHASE TRANSACTIONS SO SO TOTAL REPURCHASE TRANSACTIONS 5.19.511.001 5-27.719 r PZ8OS£00 IND ANDS N et allarov. 05,29334 12 32 MI 2831 EFTA01321011 rE1 8 IJ IJ -n C in r SZ805£00- O19- ANGS BEAR STEARNS OFFICE SERVICING ICOR ACCOLAVT Beat. Steams & Co. Inc. 383 Madison Menue New Yak. New York 10179 Transaction Detail INVESTMENT ACTIVITY SETTD4D0 MOE OAR nmsAcnoli oesciamom 05/06404 05405/04 SOLD UNITED STATES TREASURY NOTE DUE 04/3042036 02.250% AO 30 0988726998099 YIELD 2.307 % TO MATURITY OVER REF 0 01261010 Al 05/07/04 05/06/04 SOW O46utilO TMOUOI rta ?mow* OwCO VAISCaRY Salt Simms Yost RS Cep ON 0048309 Rimer Mat 8/oat" 3340 van 11201.3869 FINANCIAL TRUST CO INC srn3/467 PEMOO May 1.2004 3309904 may 26.2004 ACCOLCIT 194:04VER NORM On Fr LAST 89ATE4490 /pi 30, 2004 SIIMOUCUSP 01.0/1179 P1 t OUR AMCOR MITE SMOUICT 912828CF5 -25.000.000 99 89063 24.972.656.25 ACCR. INT. 9171.20 U S TREASURY NOTE 912828CE8 -25.000.000 97.46875 24.387.187.50 DUE 04/15/2009 03.125% AO 15 0989016192099 ACCR. MI 46.960.38 YEW 3690% TO MATLflY OVER REF 0 61271002 Al 05/13/04 GUINN CANCEL SELL FNMA-30YR(FIRAMGED 5478487 10.000,000 100.75000 10,075,000.03 SETT.05404 DUE 05401/2034 05.500% 0987280211332 REF 0 2004041857470020 BS AS OF 04/15404 TO CO. PREVIOUS SW. 05/ 3/04 04/07104 CANCEL SELL INFAA-30YRIFNMA/GTO 5417.05/04 DUE 05/01/2034 05.500% 0987000510332 REF • 2004040757540000 BS AS Or 04407/04 TO 03 PREVIOUS SELL SA78467 15.000403 101.56250 15,234,375.00 05/13/04 04/06/04 BOUGHT FNMA-30YRIFNMWTO SER.06/04 DUE 05101/2034 05.500% 0987280211332 REF 0 2004040557900300 BS 05/13434 04116/04 SOW FNMA-30YRIENIANGTO SETT.05.04 DUE 05401/2034 06.500% 0987280211332 REF w 2004041657470000 BS 05/13404 04107/04 SOLD SA78487 25.000,000 101.10938 25.277.343.75 5/4078487 -10.003.000 100.75000 10.075.000,00 FNMA.30YRIFNMA)GTO 5478467 -15.000,000 101.56250 15.234.375.00 SETT.0504 DUE 05401/2034 05.500% 0987000610332 REF 0 2004040757540000 BS 027 08/2104:1212 081 '181 EFTA01321012 CLEARED naL0vCoi TI wila.LY GLAND) SLAISIDARY -n C in r 9Z8OSEOCIN9- ANGS 8 IJ BEAR STURNS OFFICE SEFMCING YOUR ACCOUNT Sew. Steam b Co. Inc. 383 Madson Avenue New Yolk. New York 10179 $ el 17 Transaction Detail (continued) INVESTMENT ACTIVITY (=Sued) SETTLEMENE 'MX DATE DAR TIVXMCDOM OESCRPTKAI SY1i8CLitUTP 05/13/04 04/06/04 CANCEL BUY FNMA-30YFEFNMATGTD 5178467 SETT.0904 WE 05/11/2034 05.500% 0987280211332 REF r 2004040657900000 85 AS OF 04106104 TO al PREVIOUS BUY innate+ 05713/04 SOUGHT U 5 TREASURY NOTE 912828CE8 WE 0415/2009 03.125% N3 15 09849190294332 OV YEW REF 3.9 0 66 % 41012 Al TO MATURITY ER G13 05/17/04 05/13/04 SOLD UNITED STATES TREASURY NOTE DUE 05/192009 03.875% MN 15 0988190294332 YIELD 3.993% TO MATURITY OVER REF • G1341013 A3 05/17114 PRINCIPAL FEDERAL NOME LOAN MEG CORP 31392T6E2 -1,341,000 SERIES 2483 CL ST 5.900 CUE 03/15/32 PRICRTAL REDUCTN 05-15-04 912828CH1 Seer. Ste nu Monies Cop. One Lawns, Weer Moll arcaOr. Nat York 11201.38S9 FINANCIAL TRUST CO INC STATTANNI PeROD May 1.2204 04404.E0I May 28.2004 ACCOUNT PANDER LAYPAYEA WIRIER Del File VET STAMM., APE 30. 2004 CUALairy ME OEM MOW CRON MOM .2S.000.000 101.10938 25.277.343.76 25.000.000 96.27030 24,067,575.00 ACCR. INT. 61502.32 99.46875 24,861,187.50 ACCR. INT. 5.264.95 05/17/04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 31392T6E2 -531 SERFS 2483 CL 54. 5 KO DUE 03915/32 PRINCIPAL REDUCTN 0545-04 PRINCIPAL FEDERAL HOME LOAN MEG CORP 313927/32 .1,162.000 sums 2488 CIASS SO 6.900 OUE 03/15/32 PRINCIPAL REOUCIN 05-15-04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 313927/32 -809 SERIES 2488 CIASS SO 6.900 DUE 0915132 PRINCIPAL REDUCTN 054544 05/17/04 05/17434 05/17/04 PRINCIPAL FEDERAL HOME LOAN MTG COW 31393FAF3 -1.515.000 SERIES 2530 cuss SE 6.3co WE 02/15/32 PRINCIPAL REDUCTN 05-1504 027 06/2104.1232 ON EFTA01321013 rn I8 C)0 -n C in z r MOSEOCIN9- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams 6 Co. Inc. 383 MediSon Avenue New 19:(0. New 7Ork 10179 9 or 17 Transaction Detail (continued) INVESTMENT ACTIVITY Imotinuce) SI71110.1747 13.2E Tataf Ca( IsasSACTIOW OtSCRP7Oid 811.102.0.810 Ciwinn PRO OONT IMCONI TAM MOM 05/17/04 05/17/04 06/17/04 05/17/04 05/24/04 05/25/04 05/25/04 05125/04 05/21/04 PRINCWAL PRINCIPAL PRINCIPAL PRINCIPAL BOUGHT PRINCIPAL PRINCIPAL PRINCUAL FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS SE 6.300 DUE 02/15/32 PRINCIPAL REOUCTIT 05-15-04 FEDERAL HOME LOAN MTG CORP SERIES 2525 CUSS SI 5.900 DIE 02/15132 PluNcrAL REOuCIN 05-15-04 FEOL HOME LOAN MTG CORPOS03602 SERIES 223 CLASS PO DUE 12/05/32 PRIN RID 04-04 WD OS-15-04 REPO P 8I 0.0000 GOVERMENT NATIONAL MTG ASSN SERIES 2004-2 CLASS SG 12.200 DUE 01/16/34 PRIM RM 05.04 PM 06-16-04 REPO P 81 12.2000 UNITED STATES TREASURY NOTE DA 05/15/2009 03.875x mN IS 0988016192099 YELL 3.821% TO MATURITY GvER REF • G1421003 A3 AS OF 05/21/04 FEDERAL NATIONAL MTG ASSN STRIP MTG SERIES 322 CL P0 0.001 DUE 03/01/32 PRIM No 04-04 1813064544 REPO P &I 0.0= FANNIE MAE CMO/SERIES 2003.13 904/0 FUR 6.900 OLE 03/25033 PRIJCPAL REDUCIN 0545-04 FANNIE MAE CM/SERIES 2003.13 S ROM/0 RIR 6.903 DUE 03/25/33 PRINCPAL REDUCTN 06-2644 31393FAF3 31393F686 312811085 38374FCN2 912828011 31360401 313922110 313921082 466 450,235 25,000,000 ACM NT. -1.626,000 -92 10024219 25.060.546.88 23.692.25 196400.50 78.886.80 309.453.15 CLEARED THROUGH ITS MMOLLY OWN= 54,33>ARN Ow keens Sort: t Cup. One PANntech Cerro MOT SNOMpt Ms Tort 112014859 FINANCIAL TRUST CO INC STATFAMMT PIRO() May 1. 2004 TMSOLON 44My 28.200.1 ACCWST MASS TANPAYER %writ On fN LAST STAIEWENT Apt 30.2004 027 06/21101:1932 001 14131 EFTA01321014 CLEARED 1111/00:41 WKLY OAt SUBS40Ofer 0 -n C rn r 8Z805£00- O19- ANGS IJ IJ In IJ O BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madden Avenue rk 10179 10 c• Transaction Detail (continued) INVESTMENT ACTIVITY (continued) SEITLELIDO MOE WI out neuiscnow cocceenoe SIMOUCLISIP OUO4111Y PreCE 05/25/04 PRINCIPAL FEDERAL NATIONAL MEG ASSN 31393C2C6 -819.287 SERIES 2003.49 CLASS 9N 5.900 DUE 01125/33 PRINCIPAL REDUCIN 05.2544 05/27/04 05/26/04 BOUGHT UNITED STATES TREASURY NOTE 912828015 25.000,000 99.54686 04/30r2008 192099 02.250% AO 30 ACCR. INT. 0988016 YEW 2.49211 TO PAATUROY GYM REF • G1471003 Al 05/27034 05126/04 BOUGHT UNITED STATES TREASURY NOTE 912828CF5 50,000.000 99.54688 ntat Swan. Swans Caen Oe Webtent, Cane Nnen . New Rat 11201.3149 FINANCIAL TRUST CO INC STATEVEnT P0000 Miry 1.2004 ThnOuGm May 29.2034 CCOUIC scivinint "ammo, inneell On Ole oST STATinaNn AM 30.2004 DM Mein MO NAOMI 24,886,718.75 41,270.38 49,773,437.50 DUE 04/30420M 02.250% AO 30 0988016192099 ACCR M. 82.540.78 YIELD 2,492 % TO ItATURDY GVER REF • G1471003 81 TOTAL $-174.584.402.59 2125.439.886.98 INTEREST OAR OESCA141104 SOAICUCUSP OtivailY ROE CO 0(8114u0000 MON MOW 05/03/04 AVG SAL 526.661RT 0.197 86.61 021 OFFICE MEREST 0404 osn 7/04 FEDERAL HOME LOAN MTG CORP 31392R6U0 1.0000 26,006.32 SIRES 2471 CLASS YT DUE 091512032 1,000 INT P./0 04-04 ND 05-15-04 REPO Pi I 1.0000 05117/04 FEDERAL HOME LOAN I'MCORP SERIES 2483 Cl SL DUE 03/192032 5.900 MEREST PAYMENT 05-15-04 05/17/04 FEDERAL HOME LOAN MTG CORP 313927/32 61000 90,321.40 SEWS 2486 CLASS SO DUE 0341512032 8.900 MEREST PAYMENT 06-15-04 31392T6E2 5.9020 89.101.69 027 014104:18.12 401 Y431 EFTA01321015 rn 8 IJ IJ 1./1 IJ O TZ I I m r MOSEOCIA19- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York. New York 10179 11 a •? Transaction Detail (continued) INTEREST (continued) DUE DESCRIPTIDN 05117/04 FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS SE DUE 0 0 2/15/2032 6.300 INTEREST PAYMENT 11104 SYTIOCRICUSIT 31393FAF3 ()Ammo ninOuGm ITS WHOLLY OAKS SUBSCOLRy Bow Start SKIM*, CUP. One MAWS, C4WC. Row em et. ra., rev 11201.38” FINANCIAL TRUST CO INC EMMETT(' nreco May 1,200E Tnaccon May 26,2004 ACCOLAYT vuwITER TTAPATER Ruu•LA On Fb LAST STEEPEN/ AETI TICI. 2004 OLLNIRIT RATE DTI Cal *CAC CREDIT MOM 8.3000 109.256.12 05/17/04 FEDERAL HOME LOAN MTG CORP 31393FG86 5.9003 43,89012 sums 2526 CLASS SI CUE 02/192032 5.900 MEREST PAYMENT 05-15-04 05117/14 GOVERNMENT mT13NAL MTGASSN 38374FCM4 6.1000 221,416.22 SERIES 20042 CLASS 95 DUE 01,16/2034 6.100 NT WO 05-04 PM 054604 REPO P & I 6.1000 05/17/04 GOVERNMENT NATIONAL MTG ASSN SERFS 2004-2 CLASS 56 I/I DUE 01/16/2034 12.200 WD 06-04 RD 0116-04 REPO P 4I 12.2000 05/2004 GOVERNMENT NATIONAL MTG ASSN SERIES 2004.5 PASS PS CUE 0120/2033 5.950 RN RC 04-04 PA) 05-20-04 REPO PA I 5.9500 05/25/04 FANNIE PAM PAO/SEPSES 2033-13 31392.1DIC2 esooF S RCR4/0 FLTR DUE 03/25/2033 6.903 INTEREST PAYMENT 0125-04 05/25/04 FEDERAL NATIONAL MTG ASSN 31393C2C6 5.9000 84.202.49 SIRES 200149 CUSS SW DUE 01/25/2033 5.900 INTEREST PAYMENT 05-2E-04 TOTAL 38374FCN2 12.2000 99,727.91 38374F087 5.8500 214.500.00 195.447.99 51.173.95617 027 0579.04.12 31 Oti YO31 EFTA01321016 WAXED 04110004 ITS 7‘71:41Y OvewilD SuMoan rn 8 b.) IJ IJ Is) 0 m C in r 0£80SEOCIND- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 6 Co. Inc. 383 MadImo AYellUCt New Yak New Tot 10179 12 el Transaction Detail (continued) Ow. Urn Semmes Co,. Ore - env Nam Now RAF 11201.3359 FINANCIAL TRUST CO INC STARDOM 114.00 May 1. 2004 noce.IGH Tay 28.2004 AECCUPC NOMA TAXPAYER MARICR CO nit REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS UST STA,VENT Apni 30.2004 with Bear,Steams& Co.Inc. SITT1D.0/11 TRW/ DATE DATE 12M1S1C1/311 DESOIIPRON 0904/04 JOURNAL FEDL NOME LOAN MTG CORP#503602 SERIES 223 CLASS P0 CUE 12/01/32 FMA F1173164 Al TERM REPO AGREEMENT 0510004 JOURNAL FEDL HOME LOAN MEG CORPOS03602 SERFS 223 CLASS PO DUE 12/01/32 NM F1253259 Al REPO AGREEMENT 05104104 JOURNAL FEDI. HOME LOAN WIG CORPAIS03602 SERIES 223 CLASS PO CUE 12/01/32 FILM F1253259 At REPO AGREEMENT 05/04/04 JOURNAL FEDI. HOME LOAN ILIT6 CORPOS03602 SIRES 223 CLASS P0 DUE 12(01132 Elnd FT 253259 A3 REPO AGREEMENT OSO4104 INTEREST FEOL HOME LOAN MTG CORPLIS03602 SUES 223 0LASS PO DLLE 12/01/2032 0.000 Firm F11731 REST 54 Al REPO ME 05/06/04 DELIVERED UNITED STATES TREASURY NOTE DUE 04/30/2006 2250 2,250 CUE 04/30= FMA E1210865 A2 TERM RESALE AGREEMENT 05/06/04 RECEIVED UNITED STATES TREASURY tax DUE 04/30/2006 2.250 2.250 DUE 04/30106 FILM P1270169 Al RESALE AGREEMENT SYMIC4/0.13.7 0.1114011T CM NA0u1n CREDIT MettO 31213HVAB5 2.930.516 200,000.00 3128HVA85 .2.930.616 225.000.00 3123311VM35 2030,515 226.000.00 3128141/A85 .2,930,615 225,000.00 3128HVASS 57.78 91282.75 SO.000.000 50.000.000.00 912828CF5 75.000,000 75.003.000.03 027 0Y2961.12:32 001 VIII EFTA01321017 BEAR STEARNS OFFICE SERVICING TPA ACCOUNT Elm Steams & Co. Inc. 383 MadMai Avenue New Yak. New York 10179 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) -n umtmon num 0.41 NM 05106104 05107/04 05/101/04 C in 05/10/01 05/10101 r 05/10/01 05/10104 TE8OSEOCIA19- ANGS I8 IJ IJ IJ T98145.4.7138 otSCRImm INTEREST UNITED STATES TREASURY NOTE DUE 04/30/2006 2.250 FRM F1210865 A2 RESALE MEREST RECEIVED U S TREASURY NOTE CUE 01/1512C09 3.126 3.125 DUE 04/15/09 nut F1280880 Al RESALE AGREEMENT JOURNAL FEDERAL NATIONAL MEG ASSN STRIP IMO SERIES 322 U. PO 0001 DUE 03/01/32 FITM F1313223 Al REPO AGREEMENT JOURNAL FEDERAL NATIONAL MTG ASSN sum MK SERIES 322 Ci. PO 0,001 Out 03/01/32 MU F1203206 AZ TERM REPO AGREEMENT JOURNAL FOX HOME LOAN MTG CORPMS03602 SERIES 223 CLASS PO DUE 120102 Fnm F1253259 AZ NAM REPO AGREEMENT JOURNAL FEOL NOME LOAN MTG CORPOS03602 SERIES 221 CLASS P0 Out 12/01/32 NMI F1313227 Al REPO AGMMENT JOURNAL GOVERNMENT NA110104. MTG ASSN SERFS 2004-5 CLASS PS 5,850 DUE 02/2003 FRIA F1313225 Al REPO AGREEMENT CLEARED 778:05C4 fr3. %mow. 08.NED SU8S08.84 Sew Suns Owns On Ow Mor798.9 Canw 74811 1.494544 Key York 11201.3859 FINANCIAL TRUST CO INC Mira? PERD30 May 1. 2004 nmouam May 28. 2034 ACCOLPIT 418.1158 3420.8402 ?ANGER On Mb I110 STAMAINT Apri 30. 2004 smect/CLIMP OuFrTm OM NAMAll 0 ,80,1 macurt 912828CF5 4138.89 912828CE8 25.000.001 21.500.000.00 3138041 -4.744051 3,241,000.00 3136FALQ1 4,741,651 3,260,000.00 3128)41/A135 2,734.215 226000.00 312816/A85 -2.734.215 715.030.00 38374F087 44.000.000 5.533.000.00 027 06428/04:1832 001 nil EFTA01321018 CLEARED Ti4tOtrom ITS ware Oas,a) SUSSIOWSY Tn 8 b.) S.) 0 -n C in r ZE805£OO- O19- ANGS BEAR STEARNS OFFICE SERMCING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 MeOwn Avenue 10179 14 • Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (ccetinued) SEITESIDIT Den TRAM OATt IlaNSACTON DaPIPOCAI SIMIOUISIMP 01.81481Y DEVI &MUNI 0108 WOLIN! 05/10/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 383741007 44.000.000 5.907.000.00 SERB 2004.5 CUSS PS 5.850 DUE 02/20/33 MIA F0993096 AZ TERM REPO AGREEMENT 05110104 INTEREST FEDERAL NATIONAL IATG ASSN 3136FALC11 1,294.94 STRIP MTG SERIES 322 CL PO DUE 030112032 0.001 Rim 71203206 AZ REPO INTEREST 05/10104 INTEREST FEDL HOME LOAN MTG CORPA1S03502 3129HVABS 48.75 SUES 223 CUSS PO DUE 12/01/2032 0.000 FITM F1253259 AZ REPO INTEREST 05/10104 MEREST GOVERNMENT NATIONAL KM ASSN 38374FDB7 6.825.97 SERIES 2004 5 CUSS PS CUE 02/20/2033 5.850 FRI4 F099 96 AZ REPO MEREST 05(14404 DEUVERED USTREASURY NOTE 912928a8 45,000406. 24,500,000.00 DuE 04/IS/2009 3.125 3.125 CUE 04/15.43 FRIA P1280880 A2 TERM RESALE AGREEMENT 05r17/04 RECEIVED UNITED STATES TREASURY NOTE 912828011 25,000.000 25.000.00040 DUE 05/15/20:03 3.875 3,975 DUE 05/15/09 Wm 11380881 Al RESALE AGREEMENT 05121/04 JOURNAL FEDL HOME LOAN MTG CORPAS03602 3128HVABS 2.734.215 715,000.00 SOWS CUSS PO /223/32 DUE 1201 FITM 11313227 A.2 TERM REPO AGREEMDIT Bay. Stan Seartel Cap. Ow kitOttlith Lew kash r 111014810 FINANCIAL TRUST CO INC strimisT reap me, 1.2004 114.303.4 May 28, 2034 ACCOuNT WOE. IssaaVt. MASER On FM LAST STsitursT APB 30. 2004 027 alvel.04.0x32 001 vaai EFTA01321019 BEAR STMRNS OFFICE SERYIMG YOUR ACCOUNT Bear. Steams 8 Co. Inc 383 Marton Avenue New Yak, New Yu* 10179 15 of • r Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (conUnued) SE— 111.010 MCC DATE WE 05/21/04 0 05/24/04 -n 05/24/04 C in 05/24/04 05/25/04 r 05/25/04 05/25/04 E£805£00- O19- ANGS I8 b.) b.) b.) IWISACTION CCSIS0PTVIS INTEREST FEOL NM LOAN MTG CORN/503602 SERIES 223 CLASS PO DUE 12/0102032 0.000 Tom F1313227 A2 REPO MEREST JOURNAL FEOL NOME LOAN MTG CORP4S03802 SERIES 223 MSS PO ME 12/01/32 FILM F1453171 Al REPO AGREEMENT OELNERED UNITED STATES TREASURY NOTE DUE 05/151009 3.875 3,815 DUE 05/15/09 FTDA F13801181 A2 TERM RESALE AGREEMENT INTEREST UNITED STATES TREASURY NOTE DUE 05115/2009 3.875 FITM F1380881 At RESALE MEREST JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 20044 CUSS PS 5.850 DUE 02420/33 FILM F1483236 Al REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL MTG ASSN SERFS 20044 CLASS PS 5.850 DUE 02/20/33 RDA F1313225 A2 TERM REPO AGREEMENT INTEREST GOVERNMENT NATIONAL FRG ASSN SERIES 2004.5 CLASS PS DUE 02/20/2033 5.850 FM F1313225 A2 REPO MEREST WAN= 7144OVOn ns wolCsa DATED Summar By Suers Secuila Sap One vereito Grua Win Ets0tp). Nw 001, 112014139 FINANCIAL TRUST CO INC StsTEurNT 00.00 May 1.2004 n.u.occl May 28.2004 ACC0LIST NORMA ISOM/A MYER Cr, Fk LAST sumac Aid 30.2004 ST10101/01411, °wenn Mal ,a, coma ATOM 3128SIVA85 284.01 312811VA85 -2,734,215 912828041 -25.000000 25,004000,00 912828011 2.979.17 38374F087 -44,000.000 4.300.000.00 38374F087 44.000.000 5.533.000.00 38374FO87 2,997.04 Oh asinotia32 001 VI31 EFTA01321020 CLEARED THROWN ITS W130-LY OA, SIAISICYARY 17 7 8 IJ U.) U.) 0 -n C rn z r PE805£00- 019- ANGS BEAR STEARNS can SERVICAG YOUR ACCOUNT Bear. Sten & Co. ix. 383 Madison Avenue New Yak. New Volt 10179 16 a •? Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) unlearn In out out mosmnon otsommer 05127104 DELIVERED METED STATES TREASURY NOTE 013E 04/30/2006 2.250 2.250 DUE 04/30/06 17114 F1270769 A4 TERM RESALE AGREEMENT 05/27/04 INTEREST UNITED STATES TREASURY NOTE 91282ECF5 10483.33 DUE 04/302006 2.250 FONT 11270769 IA RESALE INTEREST TOTAL 5-140.576.508.39 5188.756.701.39 SYSICILICUSIP 912828CF5 WORRY -75.0O3.000 02011 AVOW Our SWAM 300,254e/ COT One Como I U.. at 20 .343 FINANCIAL TRUST CO INC STATEMENT PEW.° WI 1.2004 MRCVS. ;Any 28.2004 ACCOoer 3.22.3KR TionvEll NNW On Flo LAST STAIIIMENT WI 30. 2004 CREDIT AMODIO 75.000.000.00 MISCELLANEOUS IHn IRIDAY IRMISACTION OtSCRP11011 DEBIT *MUNI 05/12/04 JOURNAL APR 04 SPEC CLEARING FEES 1.500.00 03W WOOst 05/13104 JOURNAL FNMA-30YR(FNMA)GTO SETT.0504 5.500 DUE 05/01/34 MBS NET 05/13/04 32,031.25 TOTAL S-1.500.00 532.031.25 027 052904 12 32 COI V931 EFTA01321021 0 z m cim z H r SESOSE00- 019- ANGS I8 IJ IJ IN) BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams 6 Co. Inc. 383 Madison Avenue New Yak NOY York 1C179 Trades Executed Pending Settlement SE1110A(K1 TUX OUR tort TRANSACTION CESCISPON 06/01/04 05/2604 SOLD UNITED STATES TREASURY NOTE DUE05/31/2006 02.500% MN 31 0988016192099 YIELD 2.441 % TO MOURN`, GVER REV *G1471007 A3 SNIODUCUSI, 0110/arr eta .25,000.000.00 100.1140 0.1.1110 11.0004 ITS WHOLLY 0*.4= WS:SCARY Ow Sams 54cistes COP 014 Mentech ton* Kali .4eu Yon 112014/50 FINANCIAL TRUST CO INC Slatimper PflaCO May 1, 2004 "McKim May 28. 2004 ACCOUNT •0.440ER TAXIMNTSI KAMER On rile LAST STATDADC Apti 30. 2004 LfBO Audfin CREW AMOUI0 25,030,207.65 06701/04 05/26/04 SOW UNITED STATES TREASURY NOTE -50400.003.00 100.1140 50.060.415.30 DUE 05/31/2006 02.500% PM 31 0989016192099 VELD 2.441 % TO MATURITY GAR REF • G1471007 63 TOTAL 376.090.622.95 TS KA" Tidos 4* ROI ROOS 11 a7 OM MOM Ili Mb sisionien, STOP End of Statement EFTA01321022 CLOSED beietaieb re weer Ow19 SteSSeAfre m O m r 9£805£00- 019- ANGS 8 b.) IJ b.) 00 BEAR STEARNS CSTICE SFAvERIG YOUR ACCOUNT Bear, Steams & Co. Inc. 383 Madison Avenue New York. NOW YOrk 10179 ACCOUNT oxcart( GNMA GOVT BONO VISIT OUR LYCEUM winv.bearsteams can What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 7 Trades Not Yet Settled 18 1111111111 II IIIII FINANCIAL TRUST CO INC C/0 JEFFREY EPSTEIN 6100 RED HOOK QUARTER STE 83 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio TOTAL VALUE OF SECURITES DES PERIOD 13.1 63.01 2 LONG ACCRUED *DIREST 212,890 NET DE8IT BAUNCE -12.163 xrr mum THIS PERIOD Si 3.363339 NET EMMY LAST STATEMENT 12,961.281 CHANGE SPICE UST STATEMENT 402.458 There are na 'Stop loss orders a other pending buy a sell open orders on file for your account. Clio Equran S-12.163 $20.136 incor allir sit:6371 .04 3.021E E l asmm market rite MI UM cants menet value C Short menet value bug burns Stesoes Cob Oro labotebh Coma Nov, . Yen 11201-3359 FINANCIAL TRUST CO INC STATSVENT Pfeb00 *11.2004 THROu0.4 Ape 30.2004 A000tH7 NUYINER ibsPAVER MAZER on hp LAST STATDIPC Werth 31. 2004 Tbs r4- bery lee be hlembiloree primes ettc.1:4 nb brad brae Oxubtric TS rabbet nt.10 to mannTor mw man sm re.n• 4. er rpnrt nemebebb 027 05101p4:13:17 001 V830 EFTA01321023 CLEARED 1L00001 NOSY C7AM.0 SASSI0LARY Bev. Stan Socu5Des CAA MYJMYA Cane North &RR" Nit Ret 11201.3449 FINANCIAL TRUST CO INC 2 z m cim z H r LESOSE00- 019- ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 077 05.101/04.13 17 001 V830 EFTA01321024 rtca.o mixouGm ITS 0/04.0 STASSARY m 8 IJ BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York. New York 10179 3 a •I Cash Flow Analysis nes Nalco Income Summary FESICO YGOI TO an Opening Ba lance 529.336.35 U.S. Govt. Bond Int. 167.034.09 167.034.09 Got Agency Ire. 1.006.614.64 3.376.410.66 Securities Sold 262,416,355.93 Corp. Bond Int 202,418.63 832.120.57 0 Ohldends/Interest 1.376.137.05 Credit Balance Inc 69.69 69.69 0 Amount Credited $283.792.492.98 Reverse Repurchase Total 1.534.74 51.377,671 79 1307.52 54 378 942.73 Securities Bought -263.737.814.70 TZ Funds Withdrawn -70.695.00 Bond Purchase Int. -16.393.44 .219.193.47 I I &broil Inc. Pald 0.00 .1.770.70 (*Mends/Interest Charged -16.393.44 C lacellancots -9.089.06 Repurchase Int. Eqa. -29.010.01 .47.617.49 in Amount Debited 5.263.833.992.20 Net CM Actlyey .41.499.22 Portfolio Composition ClosingBalance S-12.162.87 slam LCIE r 8£805£00- IND- ANGS Cash Balance Summary OPO4,4 Margie Net Cash Balance 29.336.35 .12.162.87 529.336.35 5.12.162.87 CashiCash Eqavalent Fixed Income 12.163 13.163.012 Total 512.163 513.163.012 027 CiSolt4.13:17 001 Bea, Sten SKulteS On. one NN-S01 C•ne Main Now YW 112014859 FINANCIAL TRUST CO INC stAreicEs7 PEA00 4r1 1.2004 TARETUCIT Avo 39 2004 4COCVNT WAND! TAXPAYER %want On Fit LAST STATOR/NT March 31, 2004 Your Portt011o Allocation snort Cash 8r EOMVale01—? c1% FaaG Income 99% LP...Wed xn-ors bK14 aei ben mitt AT.AI now vSaa. TN *Taw nfistrIKill lert,s1 Na Y.ARTYV "We wue aWY WU* Y830 EFTA01321025 -n in r 6£805£00- O19- ANCIS BEAR STEARNS OFFICE SERYCMG YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Mattison Ayenue New Yak. New York 10179 4 one Your Portfolio Holdings CASH & CASH EQUIVALENTS Disc-I"., CASH BALANCE TOTAL CASH & CASH EOUIVALE NTS 513.13CUCUSP /WM 03110.MITO CURRENT COMM PaCE VALUE Mit0.1.4 iikta.l 01110 t% .12.163 5.12.163 FIXED INCOME MLitt° ThROV3H rtS mato , Owt.40 WesCao bar. Swan Scones Cat Ox uorrxech Censor lool, bay,. Kew Yon 11701.3859 FINANCIAL TRUST CO INC 3- mtwor Ft-ROO WI 1. 2004 Two - Apo! 30.2004 ACCOU.0 swain Toxionft wtwate On Fie Lost TroTtWorr Muth 31. 2004 Government & Agency Obligations DES07414101i SYNICVOUSP ACC! 014:411tt MA/OLIT YALIg ACOWED 'MEM 13110441113 AMU& 1110314 alittfair TOM 09 FEDERAL HOME LOAN KITS CORP WC 2530 CLASS SE 31393FAF3 MRON 20.810.689 9.9449 2.069.594 54.630 1.311.073 63.3493 DATED DATE 10/11/02 80011 ENTRY ONLY DUE 02115/2032 6.300% FACTOR - .34684482 FEDERAL HOME LOAN MTG CORP SERIES 2526 CUSS SI 31393F086 MON 8.926.805 8.9198 796.254 21.943 526,681 66.1448 DATED DATE 10.01/02 803IC ENTRY ONLY DUE 02/15122 5.9C0% FACTOR • .34 03684481 FEDERAL HOME LOAN MTG CORP CFO'S 2488 CLASS SO 313927J32 MRGN 15.708.067 11.3318 1.780.011 45.160 1.083.857 80.8905 DATED DATE 07108/02 BOOK ENTRY ONLY DUE 03/15/2032 6.900% FACTOR - .31416139 • • • - FEDERAL NOME LOAN MT6 CORP SEWS 2483 CL SI. 3139216E2 MRGN 18.122977 8.8592 1.605,493 44,550 1.069.220 66.5976 DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03/15/2032 5.900% FACTOR . .31416137 027 05/01/04:13:17 001 YB30 EFTA01321026 ammo nnouol rrs %%ICUS 0-0 SUBSOwlv rn I S b.) IJ 10 1.0 O B I 5 m r 017805£00- 019- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Beat Steams & Co. Inc. 383 Madison Annie New Tort New `Ark 10179 5 0.-r Your Portfolio Holdings (Continued) Government & Agency Obligations (continued) DESOUPTION ST10801AUSIP ACC! nn OttiearlY Ka MAN ACCPUD3 '1111(51 ES1WATI:0 P041 CURRENT VIFID N FEDERAL NATiONAL MTG ASSN 313930206 MRGN 17.125,930 10.8689 1,851.402 14,032 1,010,430 54.2833 SERIES 2003.49 CLASS SW DATED DATE 04/3003 800K ENTRY ONLY DUE 01/2512033 5.900% FACTOR - .70457480 Total Government& Agency Obligations 58.112.754 5180.315 55.001.261 Corporate Bonds ACC! ALOUD ISTINATED 01451011 OLSCIPTY4 Sy1.10000.61P nPE OUANNTY Pea Mani Vial EVRNESI MOPS INCONE VOID MN FANNIE 1AAE CMO/SERIES 2003-13 3139210K2 MRGN 33.990.953 14.8577 5.050.258 32.575 2,345,376 46.4407 SRCR-VO FUR DATED DATE 02/25/03 BOOK ENTRY ONLY DUE 03/25/2033 8.900% FACTOR . .67981909 Total CaporateBOods 55.050,258 532.575 52.345.376 TOTAL FiXEDINCOME 513,163,012 5212.890 57.346.637 114e. Sion Smote, Cap One 1Amoloro Cocoa North AM 20 480 FINANCIAL TRUST CO INC STATIPST P01;00 Apf11 1, 2004 nob:41W Awl 30, 2004 ACCOUPer NuweER TASK* NINSER Co File WIT IITATEL/ENT Mte01 31. 2004 YOUR PORTFOLIOHOLOINGSACCRUED INTEREST 5212.890 YOUR PORTFOLIONOLDINGSESTIMATED ANNUAL INCOME 57.346.637 YOUR PRICED PORTFOLIOHOLDINGS 513.150,849 027 05/01/04:13:17 001 w330 EFTA01321027 BEAR STEARNS OFFICE SERVICING YOUR Ara, 'NT Bear. Steams & Co. Ix. 383 Madison Avenue ow 10179 6 •It CiEulED niRouGH viNOLve 00.41:0 SUISOLOW See. Sawn Swett. Cup. 0 Meinumn Croy Noll Omer. New Yen 11201.3859 FINANCIAL TRUST CO INC STAMENT ?Moo April 1.2004 notp."314 Aare 30.2004 Repurchase and Reverse Repurchase Transactions with Bear,Steams& Co.Inc. outstanding as of date of statement PURL 1.50 RP1.11104k54 PRIMO 11.110.11.51 Oftel/ ACOUD APO SUM DAR DATE RATE pRINCIPA1 nntnsi- Cuwn11 Ca N:COUNT MAMA Tonven ram111111 On Fla usl errAresancr sawn 31.2004 DESCRIPRON YOU SOLD (REPO) 0408/04 05/10.04 1.300 .5,907.000 -5.332 -44,000.000 38374FDB7 GOVERNMENT NATIONAL MTG ASSOC SERIES 2004-5 CLASS P 5.8500 02/20/33 0 YOU SOLD (REPO) 04/08/04 07/08/04 1.340 -1712.000 -3.454 -44,389.962 38374F044 GOVERNMENT NATIONAL MTG ASSOC SERIES 2004.2 CRASS S 6.1000 01116/34 YOU SOLD GOVERNMENT NATIONAL MTG ASSOC E I (REPO) 0408/04 07108/04 1.340 -8,258,000 -7.684 -10,000.000 38374FCN2 SERIES 2004-2 CLASS S 12.2000 01/16/34 C in z YOU SOLO (REPO) 04/26/04 YOU SOLD (REPO) 04/29/04 05/10104 05/1004 1.300 1.300 -200.000 4.260.000 -SO -470 -5.000.000 .15.ocaoao 3128HVABS 3136FAU)1 FHLMC• STRIP PRINCIPAL ONLY FNMA-SANS PRINCIPAL ONLY SERIES 322 CLASS PO 03/01/32 YOU BOUGHT (REVERSE) 04/30/04 OPEN 0A50 50.000.000 1.875 50.000.000 912828CF5 USER 2.25000030106 r TOTAL REVERSE REPURCHASE TRANSACTIONS 550.003.000 51475 TOTAL REPURCHASE TRANSACTIONS 1-21.337.000 5.16.990 T17805£00- O19- ANGS Ai of steren asap 027 05501.04.13 17 00I '.830 EFTA01321028 CLEARED THROUCAT EFS was TETANE0 SuISCAARY 0 z ii C rn z r MOSE00- 019- ANGS BEAR STMRNS OFFICE SEIWICANG YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 303 Mediu(' Avenue New YOlIk. New York 10179 7 ells Transaction Detail INVESTMENT ACTIVITY SETTUND/1 TRAM DATE DATE DUSSACTON OLICRIPTION 04/05/04 04/02/04 SOLO Dar Suns Sscultes C40. pat VOWS, taro tab NEAT Yet 112010419 FINANCIAL TRUST CO INC STATiteNT onto Apni 1.2004 THROWN API 30.2004 403DUNT SOBER TAXPAttlit MAMA On RI. LAST STATUISNI Match 31.2004 531AIOUCUPT COMM Pea OW MONT CREDIT MOM 912828891 -10.000GO° UNITED STATES TREASURY NOTE DUE 01/15/2039 03.250% Al 15 0988280293099 YIELD 3.113 %TOIMTURITY OVER REF • 60931017 Al UNITED STATES TREASURY NOTE 912828822 -20.000.000 DIE 02115/200903.000% FA 15 0988280293099 YEW 3.136 %TO ARA Y GVER REF a 40931099 AlA 04/05/04 04/02/04 SOLD 04/06404 04105.04 SOLD UNITED STATES TREASURY NOTE DUE 01/31/2005 01.500% MS 31 0988016192099 YIELD 1.887%10 MAMMY OVER REF or G0961031 Al UNITED STATES TREASURY NOTE 912828000 50.000.000 99.38281 49.691.406.25 DUE 03/31/200601.500% MS 31 ACCR. WT. 16.393.44 0988016192099 YIELD 1.819 % TO MATURITY OVER REF • 60981006 Al 912828000 .50.000,000 04/08/04 04/07/04 BOUGHT 100.60158 10.060.156.25 ACCR. INT. 72.321.43 99.39063 19.878.125.00 ACCR. WT. 82.417.58 99.25000 49.625.000.00 ACOL INT. 12295.08 04/08/04 JOURNAL FEDERAL HOME LOAN MTG CORP 31392R6U0 1 SERIES 2471 CLASS YT 1,000 DUE 03/15/32 ADJUST POSITEN 04/08/04 JOURNAL FEDERAL HOME LOAN MTG CORP 31392R600 1 SIRES 2471 CUSS Y1 1,000 DUE 03/15/32 04/08/04 JOURNAL FEDERAL NATIONAL MTG ASSN 31393C2C6 1 SERIES 2003.49 CLASS SW 5610 CUE 01/2543 ADJUST POWTON 04/08/04 JOURNAL FEDERAL NATIONAL AEG ASSN 31393C2C6 1 SIRES 2003-49 CLASS SW 5.910 DUE 0125/33 027 05/01,04:13:17 001 V830 EFTA01321029 0 -n in r £17805£00- IN9- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madson Avenue New Yak, Nee Yea 10179 CLEARED 72010e.n. rn %Monty 020202 SuBSIONNv Ow. Sion Secullan Cap. On Nented, Cony Nan lavOrter. New NN 20 INS FINANCIAL TRUST CO INC STAnbiENT mow %a 1.2004 .H4ouom Api 30.2004 ACCalra mama 8 's Transaction Detail (continued) TAXPAVM POSER On NO INVESTMENT ACTIVITY (cortinucce µ4T nuessmy Nam 31.2001 2111204170 WOE Can DAN MANSACI1ON DESCRPTIO2 st703.CuS• @WNW PRAT MM MOM etadi swum 04/1904 JOURNAL FEDERAL HOME LOAN MTG CORP 31392R6U0 SERIFS 2471 PASS Yr 1.000 DUE 03/18/32 04/15/04 04/06104 CANCEL SELL. FNMA-303994444)6TO SET104/03 51197224 25,000,000 101.44922 25,362,304.69 CUE 04/01/2033 05.500% 0997260211332 REF • 2C04040557890:00 85 PS OF 0608/04 TO 01 PREVIOUS SEAL 04/15/04 04/02/04 BOUGHT FNMA-3011(9•49GTO SETT.04/03 51197224 25.000,000 101.46438 25,371,093.75 DUE 04/01/2033 05.500% 0987280211332 REF # X04040258110030 8$ 04/1904 04/06/04 SOLD FNMA.30YR(FNMA)G11) SETT.04/03 5/197224 .25,000.000 101.44922 25,382,304.69 DUE 049112033 05.500% 0987280211332 REF 41 200404065788:000 B$ 04/15/04 04/0294 CANCEL BUY FNMA-30YR(FNMA)GTO 5511.0403 5N97224 .25,000.000 101.48438 25,371,093.75 OUE 04/01/2033 05,90% 0957280211332 RAS OF 000204 EF • 2004040258110000 BS TO 01 PREVIOUS BUY 04/15/04 PRINCIPAL FEDERAL HOME LOAN MEG CORP 31392T6E2 -1.104.000 SEARS 2483 CI. 51. 5 910 UE RED03415432 So Du. UCTN 04.15-04 04/15)04 PRINCP/U. FEDERAL HOME LOAN MEG CORP 3139216E2 -120 SERIES 2483 CL SL 5.910 DUE 01/15/32 PRINCIPAL REDUCER 04.15.04 027 OG0104:13:17 001 V830 EFTA01321030 CLF.ARE0 1119000m ITS WsOLLY OwNED SVILSOLNW rEl 8 b.) IJ ii C rn r tr17805£00- 019- ANGS BEAR STERNS OFFICE SERVICING YOUR ACCOUNT Beat. Stearns 6 Co. Inc. 383 Madison Arne Now York. New Yak 10179 Transaction Detail (continued) INVESTMENT ACTIVITY (continued) ETTL EMENT DM S E TRAM IIMPWCTO1 INSCR.11CM SILIOCt/CLIS, OMIT ow AMOUNT CAW AMOUNT 04/15/04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 313927/32 -957.025 SERFS 2488 CUSS Se 6.910 DUE 03/1932 PRINCIPAL REDUCTN 04.15-04 04/15/04 PRINCIPAL FEDERAL HOME LOAN NTS CORP 31393FAF3 -1.214.000 SERES 2530 CUSS SE 6.310 DIE 02/15/32 PRINCPAL REDUCTN 04-15-04 0415104 PRINCIPAL FEDERAL HOME LOAN MTG CORP 31393FAF3 -164 SERIES 2530 CLASS SE 6.310 DUE 02/1932 PRINCPAL REDUCTN 04-15-04 04/15)04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 31393F036 -620.819 SERIES 2526 CLASS SI 5.910 DUE 02/15(32 PRINCIPAL MUM 04-1544 0415/04 PRINCIPAL FEDL HOME LOAN NTS CORPOS03602 3128141/AB5 126.480.85 SERFS 223 CLASS PO DUE 12/01132 PRN R/D 03-04 P/0 04-16-04 REPO P o I 0.0000 04/16/04 PRINCIPAL GOVERNMENT NATIONAL MTG ASSN 38374FCN2 71.29390 SERIES 2004-2 CLASS SG 12.220 DUE 011 6134 PRP/ PM 04-04 IM) 04-16-04 REPO P I 12.2200 Oisizeiee PRINCIPAL FEDERAL NATIONAL MTG ASSN 3136FAL01 286.865.75 STRIP MTG SERIES 322 CL PO 0001 DUE 03/01/32 PAN RE/ 03-04 P/D 04-25-04 REPO P 6I 0.0000 04/2604 PRINCIPAL FANME MAE CMO)SERIES 2003-13 31392101(2 .1.161.000 S RCR-PO FUR 6.910 DUE 0325/33 PRINCIPAL REDUCTN 04-25-04 Br. Sawn Sewires Carp. pR Mettiecii Cow Wen Irtot1r. New York 112014859 FINANCIAL TRUST CO INC VAINEST PER00 AO 1.2004 n49O-.H AO 30.2004 An* NT KLAIBER TAXPAYER wet On Fie LOT EITATOMWE Myth 31.2004 027 05/01/0413:17 001 9830 EFTA01321031 LEM:ZOO-Via 0 m ci H r S17805£00 LAID ANDS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Beet Steams & CO. Inc. 383 Mattson Avenue Nee YOrk. New Yak 10179 10 ;, Transaction Detail (continued) INVESTMENT ACTIVITY (continued) SEMAIENT DUDE DATE DMt 04/26/04 muscnou PRINOPAL COMPTON FANNIE MAE 04/SERIES 2003.13 S R044/0 FLTR 1910 DUE 03/25/33 PRINCIPAL REDUCTN 04.25.04 FEDERAL NATIONAL MT6 ASSN SERIES 2003-49 CLASS Sw 5.910 DUE 01/25133 PRMCPAL REOUCIN 04-25-04 04/26/04 PRINCIPAL 04/30/04 04/28/04 SOLD UNITED STATES TREASURY NOTE DUE040012005 02.250%4 30 0988016192099 VIEW 2.267 TOmmultrY GvER NET r G1191005 A3 701/.1 DEPOSITS AND WITHDRAWALS DATE 04/02/04 IND WIRED mos/troy MS /sync* 0.LOMO TW10.01 wriCt.tY DATED P-11310LARY BAP. Sinn, SePellst Carp On. APP5PCP COW North 9. v /1201.1619 FINANCIAL TRUST CO INC STATEVENT PIRCO AEA 1.2004 THRCYJP.1 VI 30.2004 ACCOUNT MAIIRR TAXPAYER MAW On He LAST grArEuEin MVO 31.2004 STIAK40.60 FAJANmv PR= MKT AVOLIP(1 PACUP(1 31392J0K2 -340 31393C2C6 -585,127 912828CF5 -50.000.000 99.96700 49.983.500.00 E.-100,441.198.13 5180,931,855.28 oEm 41/C010 70695.00 c pan MOAT MDMEGV129522FNOSWIFIED TO FLEET NATIONAL BANK AC2387644020 042544. 4 TOTAL 5.70.695.00 INTEREST PATE OESCRIP3.4 04401/04 AVGBAL 245.10CRT 0.341 021 OFFICE WTEREST 0304 STIFOOLCAPP WHEW RATE DP DIr IMOUNI CREDO ANOXIC 69.69 027 0901/04:13:17 001 11630 EFTA01321032 CLEARED TAMAN In TROLLY ONNE0 SUMO0Urr 231 1 8 b.) IJ LA 1.0 0 O -n C rn - 1 r 917805£00- O19- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Dear. Steams & Co Inc. 383 Madison Avenue New York. New Yak 10179 11 Not Transaction Detail (continued) INTEREST (commtect) DATE DESCRENON SYMMUOJEIP 0.122411n pall OM DM MOUNT MDR mom 04/15/04 FEDERAL HOME LOAN NOG CORP 3139216E2 5.9100 94,69030 SERIES 2403 CL SL CM 03/15/2032 5.910 MEREST PAYMENT 04-15-04 04/15104 FEDERAL HOME LOAN MEG COPP 313921332 6.9100 95,963.17 SERIES 2488 CLASS SO DUE Gm 5/2032 6.910 MEREST PAYMENT 04-15-04 04/15/04 FEDERAL HOME LOAN MTG CORP 31393FAF3 6.3100 115,814.02 SERFS 2530 CLASS SE DUE 02/15/2032 6.310 MEREST PAYmENT 0445-04 04/15/04 FEDERAL HOME LOAN MEG CORP 313931'G86 5.9100 46,529.55 SERIES 2526 CUSS SI DUE 02/15/2032 5.910 INTEREST PAYMENT 04-15-04 04f16/04 FEDERAL HOME LOAN MEG CORD 313920643 1.0000 27.590.79 SERIES 2471 CLASS Yr DUE 03/1512032 1.000 4/15 Pfr TOW 04/16/04 GOVERNMENT NAMNAL MEG ASSN 39374FCM4 6.1100 221315.59 SERIES 2004-2 CLASS SR COE 0116/2034 6.110 NT R/004-04 RD 04-16-04 REPO P &I 6.1100 04/16/04 GOVERNMENT NATIONAL MEG ASSN 38374FCM2 12.22® 100.617.41 SERIES 2004-2 CLASS SG DUE 01H6/2034 12.220 M RA) 04-04 PO 04-16-04 REPO P 6I 12.2200 04/20/04 GOVERNMENT NATIONAL WIG ASSN 38374FD97 5.8600 214366.67 SERIES 2004-5 CUSS PS CUE 0200/2033 5.660 M. Siam Senna Cart On Moen" woe nn Nat Yolt 11201.3859 FINANCIAL TRUST CO INC STATEMENT MSC° Apt 92001 TIMOUDI API 30. 2004 ACCOUNT MANS MAMMA MAMA Co in LAST STATEMENT MOTO 31.2008 R/D 03-04 M) 04-2044 REPO P 4I 5.8600 021 05/01/04:13:17 001 V830 EFTA01321033 ET1 8 IJ IJ m cim H r L17805£00- O1D- ANGS BU\IR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams a Co. Inc. 383 Madson Averwe New Yo& New York 10179 Transaction Detail (continued) INTEREST (03etAluee) GUAM TNIOUOn Rs v4.0 we GAM/ SUletture Par. SUM* Semliki Cap. One 1044.06r- Cater Net mouses. FINANCIAL TRUST CO INC amps!! P41400 April 1. 2004 TPROvOs Apr. 30.2004 ACCOuNT NUMMI TAXPAYEll Klee on Cie VAT STATEMENT With 31.2004 OM OLSOPPROP. SIIRM.C.L6I0 Oaten" 411E ‘14.1 Can MOW OWN AMOUNT 04/28404 FANNIE MAE CMOISERJES 2003-13 31392.6382 S RCR.vo FLTR DUE 03/250033 6.910 iNTEREST PAYMENT 0425434 04/26404 FEDERAL NATIONAL MTG ASSN 31393=6 SERIES 200349 CUSS SW DUE 01/25/1033 5.910 INTEREST PAYMENT 04-25-04 6.9100 5.9100 202.418.63 87.226.95 TOTAL 51,209,102.96 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear,Stearns& Co.Inc. suarmian (DAM Ulf OM 1100ACTICI4 OESCIMICe. 04/05/04 JOURNAL FEDERAL HOME LOAN MEG CORP SERIES 2471 CUSS YE 1 000 DUE 03/15/32 4TIMARGN F09531 REPO AGRED.0 42 Al 04/0544 JOURNAL UNITED STATES TREASURY NOTE EOM 70040567 At 3250 DUE 01/1549 TERM REPO AGREEMENT 04/05404 JOURNAL UNITED STATES TREASURY NOTE rnm FC8601370 A2 3003 EME 02/1/09 Meal REPO AGREEMENT 04/05/04 INTEREST UNITED STATES TREASURY NOTE DUE 01/15/2009 FIRA F0860657 A23.250 REDO INTEREST STI40/0.80 MURRY DON PAO3u4T C R c ' AWL I 31392R6U0 -33.108.931 .) . 912828891 10.000.000 10.275.000.03 912828822 20.000.000 20.250.03040 912828891 2.902.89 027 0541/04:13:17 001 1/930 EFTA01321034 atatED /MOAN ITS Waal 0111117 SLYISOW1Y OtSiZZOO- V1.43 0 z ii C rn z r _ 817805£00 IN9 ANGS BEAR STERNS arra SERVED/0 YOUR ACCOUNT Mw. Sara Santa Cap. Boar. Steams & Co. Inc. or. mosso caws Nom 383 MadIson Avenue ends" New wa 11201.3/“.9 New Yak. New Yak 10179 a FINANCIAL TRUST CO INC 13 an Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASETRANSACTIONS (crewed) 30310/041 DM1 TUN MANISACION mammon smactrcusw Mann+ DCW1 MGM 0111111 ALUM 04/05/04 INTEREST UNITED STATES TREASURY NOTE 912828822 4.055.63 DUE 02/15/2009 3.000 FinA 10860670 A2 REPO EGOTIST 04/06104 RECEIVED UNITED STATES TREASURY NOTE 912828000 50.000.000 49,875,000.00 1. DU5E 03/31120063/31/05 1.500 00 COE 0 NW P0971111 Al RESALE AGREEMENT 04/07/04 JOURNAL FEDERAL NATIONAL MEG ASSN 31393C2C6 -17.711.056 1.492.000.00 SERFS 2003-49 CLASS SW 5910 DUE O1/25/33 NW 10983225 Al REPO AGREEMENT 04/08/04 JOURNAL FEDERAL NATIONAL MEG ASSN 3136FALO7 -5.054.105 3.906.000.00 ARP MEG SERIES 322 CL PO 0.001 DUE 0301132 PIRA 10993098 81 REPO AGREEMENT 04/06104 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FAL01 5.054.105 4.340.000.00 STRP MTG SERIES 322 CL PO 0.001 DUE 0301132 FM 10843132 AZ TERM REPO AGREEMENT 04/06/04 JOURNAL EEC( NOME LOAN MEG 00/011503602 crews 223 CLASS PO 3128HVABS -2.930.616 2.157.000.00 DuE 12/01132 ITIM 10993098 Al REPO AGREWENT 04/08/04 JOURNAL FEDL HOME LOAN MTG CORNIS03602 3128HVA85 2.930616 2.376.000.00 <MCC 223 CLASS PO CAR 12/0102 arm 10683174 Al TERM REPO AGREEMENT STArEUEV, PinX) Apr 1.2004 max*, Ata 30.2034 ACCOaa saes 7.4/0aFR NUMMI On Fie 1/..51 Statata Mum 31.2004 027 C6/01/04:13:17 001 Y830 EFTA01321035 I tSEZOO- V.Li3 0 m z m z H r 6780S£00 IND ANDS BUR STEARNS orra sERViCAG YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madson Meru, Nes York. New Yolk 10179 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) Sf 1 Iltatra TIA31 DATE DATE IRMSECI101. DESCRPTION 04108/04 JOURNAL FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW 5. 0 DUE01125/33 I F0983225 Al TERM REPO AGREEMENT 04/08/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004-2 CUSS SB 6.110 DUE 01/16/34 FILM F0853301 AZ TERM REPO AGREEMENT 04108/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN SOWS 2004-2 CLASS SB 6,710 DUE 01/16134 MIA F0993100 Al REPO AGREEMENT 04/08/04 JOURNAL GOVERNMENT NATIONAL MFG ASSN SERIES 2C04-2 LASS 12.220 DUE 0111C 434 SG FITIA F0993102 Al REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL MTG ASSN SERFS 2004.2 CUSS SG 12.220 DUE 01/1644 1171A F0843050 AZ TERM REPO AGREEMENT ovoercur 04/08/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERFS 2034-5 CUSS PS 5.860 DUE 02/20133 FRIA F0993098 Al REPO AGREEMENT 04/06/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004-5 CLASS PS 5.860 DUE 02RO33 TIM F0683172 Al TERM REPOAGREEMENT snmoLoar DAM 31393C2C6 17.711,056 38374FCM4 43.859,035 38374FCM4 -43.859.035 38374FCN2 .9.880.598 38374FCN2 9.880.596 39374067 -44.000.000 38374F0$7 44000000 01ST MC141 1,492,000.00 O.F.AR1D ilaasstri ITS wiguy MECO DAMMAM Seas Suers SADastats Cap. On Verpan Carat NAAS WadOr. 14e. Yoh 11201.1M iMENNEN. FINANCIAL TRUST CO WC SEATTaahe PEROD API 1.2004 me:4.nm WI 30.2034 ACOPEAST Nownst YDCPAyER Na.,, On Fee LAST STATFutor Mach 31.200E CREPT NA01r1 100.000.00 3.712.000.00 Y 8.523.000.00 8.258.000.00 5.907.000.00 7.107.000.00 027 05.131/04:13:17 001 V930 EFTA01321036 -n C in r OSSOSEOCIA19- ANCIS I8 b.) 10 IJ IJ BEAR STEARNS ocnCE SERVICII4 YOUR ACCOUNT Bear, Steams & Co. lac. 383 Madison Avenue New Yeek, New York 10179 15 NH Transaction Detail (continued) CLEARED THROUGH Re winILY Owe $4MSOMRY Bun Sorra "nem ORR One Vane* G— Norin Row Tat 11201-3430 FINA NCIAL TRUST C0 INC STATE:Lea intROO Apal 1.2004 rmn0u0H WI 30 2004 Accouvi mm602 Tonannen taUweER On fie REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (swarmed) LAST STATEUENT Wert. 31.2034 STITUUMNI OM RUDE Del IIWISAG11011 OSSoremor; STVIOUCUS• OuvinTW OM /MOW CREDO WOW 04106/04 0008A34 04106104 04/08/04 0408/04 04108104 04/08/04 DELIVERED INTEREST INTEREST INTEREST INTEREST INTEREST INTEREST UNITED STATES TREASURY NOTE CUE oit3u2006 1.500 1.500 DUE 03/31/06 FITM F0971111 A2 MINA RESALE AGREEMENT FEDERAL NATIONAL MTG ASSN MTG SERIES Ct CU STRIP E 03/01/20 322 32 0.001PO FIIFA F0843132 AZ MEN priltREST FEOL HOME LOAN MTG CORP#503602 SERIES 223 CUSS Po DUE 1mi/2032 0. 000 mu F0683174 /2 REPO MEREST FEDERAL NATIONAL MTG ASSN SEREs 20035/2033 5 .49 CUSS SW DUE 01/2 .910 R1111.1 EPO ME F098322 T 5 AZ RES GOVERNMENT NATIONAL MTG ASSN SERIES 2004-2 CUSS 58 DUE 01/16/2034 6.110 FITM 10853301 AZ REPO INTEREST GOVERNMENT NATIONAL MID ASSN SEREs 2004.2 CLASS SG DUE (nut/2034050 A2 12.220 FM 104343 REPO INTEREST GOVERNMENT NATIONAL MTG ASSN SERFS 2004-5 CUSS PS DUE 02/2W2033 5.860 FRIA 10683172 AZ REPO INTEREST 912828CD0 3136FAL01 3128HVAB5 31393C2C6 36374ECIA4 38374FCN2 38374F0B7 -50.000,000 2.350.83 2659.80 53.68 5058 4.618.63 7.955.89 49.875.000.03 027 OW01/04;13:17 001 V830 EFTA01321037 £PSEZZOO-Vin 0 m cim H r TS8OS£00 IND ANDS BEAR STURNS OFFICE SETNICNG YOUR ACCOUNT Bear. Steams 6 Co. Inc. 383 Madsen AvenLe New York, New York 0179 16 , • r Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) 0.CARED MOICarGar ITS WPM _1880 StAISCIARY Be., Stara Sacularn Carp. one Verarerarn Caner WV, paw nit 11201.1140 FINANCIAL TRUST CO VC STAIIPAINT ratiraDD Apra 1.2031 nerov09 499 30.2004 ALCOIMT %Met TAXPAYCP Newt On He LAST JITAIIPCNT March 31.2004 SETTLIMOIT :RACE DATE DATE IRINSACTKIN orscftwects SYPAPPLO.CPP CANTU DM APIXHI CREW MACAW? 04/08104 INTEREST UNITED STATES TREASURY NOTE 912828C00 1.177 60 CUE 00/3112006 1.500 FITm RESALE MEREST F0971111 A2 04/16104 JOURNAL ADP CD 8888888 1.300.030.00 8 FIDA-PR T1073248011 .625 DuE 12/31/49 2074420692 04/26/04 JOURNAL FEDI. HOME LOAN MEG CORP4103602 3128111/ABS -2.930.616 200,000.00 SERFS 223 CUSS PO DUE 12/01/32 mM F1173164 AS REPO AGREEMENT 04/26/04 JOURNµ FEOL HOME LOAN MEG CORP*S03602 3128HVABS -2,930,616 1,583,000.00 SERIES 223 CLASS PO DUE 12/01/32 RIM Mt73164 Al REPO AGREEMENT 04/2604 JOURNAL FEDL HOME LOAN MTG CORPOS03602 3128IIVA8S 2,930,616 1.583.000.00 SERIES 223 CLASS PO DUE 12/01132 Frtm F1173164 A2 REPO AGREEMENT 04/28104 JOURNAL FEOL HOME LOAN MEG CORPOS03802 3128HVA85 2.930.616 2,157,000.00 SERIES 223 CLASS PO DUE 1201/32 HIM F0993098 A2 TERM REPO AGREEMENT 04/26/04 JOURNAL ADP CO 8888888 1.300.000.00 MaPIP F1073248013 8.625 WEI V31/49 2074420692 04/26/04 INTEREST FEDI. HOME LOAN MTG CCRP.S03602 3128HVABS 1,402.05 SERES 223 CLASS PO DUE 7201/2032 0.000 FITM Fo993098 A2 REPO MEREST 027 05/01/04:13:17 001 V830 EFTA01321038 MIMEO TIMM RI PPM CMYLD SAMMAMPY ITS 8 b.) 1,) IO U BEAR STEARNS OFFICE SEFMCING YOUR ACCOUNT Bete. Steams & Co. Inc. 383 Madison Avenue New YCO New York 10179 17 a al Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS icon! nuece Ohm Stem S400428. Cup. OM lieutonn 0.44e Wei Wdof 112014259 FINANCIAL TRUST CO INC STATEMENT PEItC0 *1 1.2004 THROWN Apo 30.2004 ACCOM N% 1R TAXPAYER MOM On He LAST STATOMP March 31. 2004 sonAmext Tux arc *Alt MAYS/41M OESCRIAMY4 SMPOLCUSIP owner air MOM CREC41 /MOURN 04/28004 INTEREST ADP CO 8888888 357.14 DUE 12/31/2049 8.625 FIT/A-PR F1073248113 2074420692 04/29/04 JOURNAL FEDERAL NATIONAL PEG ASSN 3136FAU31 -5.054.105 3280.000.00 STIP FAG SERIES 322 a. PO 0001 DM 03/01/32 MA F1203206 Al m 04/29/04 ADURNAL REPO AGREEMENT FEDERAL NATIONAL MG ASSN 3136FALI11 5.054.105 3.906.000.00 STRIP TAM SERIES 122 CL PO C in 0029104 MEREST 0.001 DUE 03/01/32 FRM F0993098 82 TERM REPO AGREEMENT FEDERAL NATIONAL MTG ASSN 3136FAUH 2,962.05 STRP M1G SERIES 322 CL PO DUE 03/01/2032 0.001 MIA F0993098 62 REPO INTEREST MOAN RECEIVED UNITED STATES TREASURY NOTE 912828CF5 50.000.000 50.000.000.00 DUE 04/30/2008 2.250 2.250 WE 04/30006 r FIDA F1210865 Al RESALE AGREEMENT TOTAL 1-163.313.010 01 191 651 534.74 MISCELLANEOUS ZSBOSE00- 019- ANGS art MOM TRANsAcoM 0411404 JOURNAL OESCRPTON FNMA-30YR(FNMA)GTEI SETT.04/03 5.500 DUE 04401/33 M8S NET 04/14/04 00111 MOM 9,789.06 Cal MOM 027 05(01(04:13:17 001 v830 EFTA01321039 T4iNaGUNO0 MOSEOCMANCIS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Boar. Steams & Co. Inc. 383 Madison Avenue York, New York 10179 18 • •• Transaction Detail (continued) ACC05242 MASA TAXPA9ER Wail On Fte MISCELLANEOUS (continued) LOT swain" WACO 31. 2001 OLEAREo TAROV014 ITS 1-0t&v °ANDO 1.10NCEUre Am Stun, Sentra.. Co% One MAIEUton Coen Math lb NE. •On 11201-3659 FINA NCIAL TRUST CO INC 8TATE242.7 PERICO AEril 1, 2004 En1100Cai AvIl 30. 2004 OAR 59IDAY IROMEAC11010 015011/10/ OM MOUNT CREW AVIOuirl 04/21/04 JOURNAL MAR 04 SPEC CLEARING FEES 300.00 TOTAL 5-9.089.06 Trades Executed Pending Settlement sErnDAISI MADE DATE OAR TWASA0112111 0450011110N 05/13/04 04/7604 BOUGHT FNMA-30YR(FNMA)GTO SETT.05/04 DUE 05/01/2034 05.500% 0987280211332 REF • 2034040657900020 BS 05/13/04 0407/04 SOLD FNMA-30YR(FNMAIGTEI SETT-0504 DUE 05/01/2034 05.500% 0987000510332 REF 0 2004040757540000 8$ 051130E 04/16/04 SOLD FNMA-JOTIqPNMA)GED SETT.05/04 OUEDSM1/2034 05.500% 0987280211332 REF • 2004041857470000 BS TOTAL rt. eta. noes to -a 0:M• M ary Ow soda, 41 em soectscuso OLOMIEI PIECE DEW WW1 MIT Hoerr 5/78487 25.000.000.00 101.1093 25.277.343.75 5/78467 -15.000.000.00 101.5825 15.234.375.00 5/78467 -10.000.000.00 100.7500 µ 10.075.000.00 25,277,343.75 325,309,375.00 027 05/01/04:13:17 001 V830 EFTA01321040 CLtAltfil 110tOLCA ITS WSW, 04040 sus:UMW.. En IS IJ IJ O TZ T I m r VSSOSEOCIND- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Wason Avenue *v. Yak. New York 10179 ACCOUNT EXECUTIVE GINA GOUT BOND VISIT CUR WEBSITE wom.boarAteams.com What's In This Statement Financial Summary 3 Your Portfolio Holcangs 4 Transaction Oetaa 7 Your Messages 16 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD LONG ACCRUED INTEREST NET CREDIT SAUK( 12.671.042 260.903 29.336 NET EQUITY DeS PERIOD S12,961.281 NET EQUITY LAST STATEMENT DIANGE SINCE LAST STATEMENT 14,891.267 .1.929.986 There are no Stop Loss orders OF other pending buy or sell open orders on file for your account. I I FINANCIAL TRUST CO INC CAQ JEFFREY EPSTEIN 6100 RED HOOK QUARTER STE B3 ST THOMAS V1 00802 Market Value of Your Portfolio ,„„sa,„.„ .1 S29.336 7237.245 ram 2 671,042 Curren 01800 V3IJe Via Last steam:Ars market vale 514,05.660 Ow. Sheens Stosoes cm Cne 14400)Kh Callow Win Ns. 03 20 3159 FINANCIAL TRUST CO INC STATEMENT PERIM rebury 26. 2034 THROWN March 31. 2004 ACCOVPIT laJtatil 70101•AVIlt Waal On Fee uST STAR-UM ASA., 27.2074 gm TM unitary for literalnall00900tt c00.11. 5« 0411440 III Mx Occ•nont Uattets103)00 es manta iv ygit Ma. 500 ream a I/100tWS ininascs 027 040104.12 31 031 v929 EFTA01321041 OSARED ♦rtllhnn tIS ViMpux Oneato Stani0ORY Sc.. Steers ann., 8913 1)3t Ilcreuch C8ner .49Th PM. itt4 1+201.3819 FINANCIAL TRUST CO INC 2. 0 -n z z r SS805£00- 019- ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE C27 04,11O1 12 31 CO1 8828 EFTA01321042 BEAR STEARNS OFFICE SERVICING TPA ACCOUNT Bum Stearns & Co. Inc. 383 Madison Avenue New Tort New Yak 10179 WARE° 11410U0/1111 CRPRD SUBSCPRY Sew. Steams Swann Cap. Ow Maraca) Corte Math linnahn Mn Tom 11201.3859 FINANCIAL TRUST CO ANC swearer PERIM Feteuary 28.2004 naown March 31.2004 3 st ACCOura WRIER Cash Flow Analysis nes P0000 Income Summary no. YEAR TOQUE TAXPAYER Waal On FIt Opening Eta lance 5237,245.02 Goat. Agency ht. 925.34142 2.369.796.22 LAST sr mesa Fatter, 27.2004 Corp. Bond Int. 207.331.92 629,701.94 Securities Sold 79.344.186.00 Reverse Repurchase It. 0.00 1,772.78 DMdends/kterest 1.132.673.44 C)0 Miscellaneous Amount Credited 431344.36 580.908.703.80 Total 51.132.673.44 Bond Puchase Ire -26.831.32 Margin Int. Paid 436.94 53.001.270.94 -202.800.03 .1370.70 -n Semitic., Bought Olvdendsanterest Charged -50.162.398.32 -27.368.26 Repurchase Inc. Em. -13.749.27 -18.607.48 C in Miscellaneous Amount Debited 40.926.845.89 541.116.612.47 Portfolio Composition Ca:AI/Cash Egtivalent 29.336 Net Cash Actinty -207.90367 Fixed Income 12.671.042 ClosingBalance $23336.35 Your Portfolio Total 512.700.378 Allocation StSiZZOO- Vid3 r _ 9S8OS£00 IN9 ANGS Cash Balance Summary Ma,,' 237.24542 29.336.35 NetCashBalarce 5237.245.02 529.336.35 0401/04:1231 COI Cosh & fault/Ant <1% Flood MCOm0 99% UnINCOS %Rea dexce. ORA Para mow eon now "Apes 1 acskr. oa Canoe Poe Pt *Plan nand at of not melba 1129 EFTA01321043 C) 0 m rn r LS805£00-O19-ANGS BEAR STEARNS OFFICE SERVICING MR ArnCOVI Bear, Steams & Co. Inc. 383 Madison Avenue New York, New York 10179 4 n•1 Your Portfolio Holdings CASH & CASH EQUIVALENTS /WM IS111MTED CURRENT OISCIVICIN snazoruso CUAN117, PRICE VALUE Mt4ML *CO& PM 00 CASH BALANCE 29.336 TOTAL CASH & CASH EQUIVALENTS 529.336 FIXED INCOME Government & Agency Obligations owns SVIABOLOJCIP att no CLIAPIIITY MCI Ian VALUE ACCAUCO MAW ESTWAIE0 MINN. 'WINE CURRUIT VOID Oa FEDERAL HOME LOAN MTG CORP SERFS 2530 CUSS SE 31393FAF3 MRGN 22.024.853 8.5574 1.884.745 61.764 1.389.768 73.7377 DATED DATE 10111/02 BOOK ENTRY ONLY DUE 02/15/2032 6.310% FACTOR - .36708039 FEDERAL. HOME LOAN NOG CORP SERIES 2526 CLASS SI 31393FG86 MRGN 9.447.624 7.8198 738.786 24.816 558355 76.5774 DATED DATE 10101/02 BOOK ENTRY ONLY DUE 02/15/2032 5.910% FACTOR - .36708088 FEDERAL HOME LOAN MTG CORP SERIES 2471 CUSS YI 31392RBUO MRGN 33.108.930 1.8536 613.709 14.710 331,089 53.9489 DATED DATE 06/07/02 BOOK ENTRY ONLY DUE 03/15/2032 1.000% FACTOR . .33108931 FEDERAL HOME LOAN MTG CORP SERFS 2488 CLASS SO 313927132 MRGN 16.665,093 9.2678 1,544.495 51,180 1.151.558 74.5589 DATED DATE 07/08/02 BCPC ENTRY ONLY DUE 03/15/2032 6.910% FACTOR - .33330190 Cantl.11 nalOuG/4 ITS mare (AWED SUPSOar bur Slums Stoats Cot. Cre Utett.teh Cote hoer Broaljn, kw York 11291.385.0 FINANCIAL TRUST CO INC STATILHAT PTR*0 February 28.2004 THROJCAT Match 31. 2004 ACCOUNT WARM TAXPAYER MAW On Fie LAST STATEMENT Fetruary 27. 2004 0•01/041231 COI V129 EFTA01321044 0.69009 *ROUGH ITS 4140L1S Ova60 SUISSOvar 171 8 IJ Ln O IJ o z o in z r 85805£00- IND- ANGS BEAR STBIRNS OrriCE SEEMING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison An New Yak Rea. Yak 10179 $ Your Portfolio Holdings (continued) Government & Agency Obligations (ccntswed) ACCT CCSOVIRON snmoucuser mt FEDERAL HOME LOW MEG CORP 31392T6E2 MRGN SERIES 2453 CL SI. DATED DATE 07/02/02 800K ENTRY ONLY MO36192032 5.910% FACTOR - .33330189 19,226,497 ACCRUCO MCI MARKET VIII 110011777 7.5582 1.455.093 50.503 FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW DATED DATE 04/30/03 BOOK ENTRY ONLY DUE 0112562033 5.910% FACTOR - .72864740 Total Government& Agency Obligations 31393C2C6 MRGN Bat Sidra Sault:a C . One Memel On Nent. Nat 112014459 FINANCIAL TRUST CO INC STATEkEk7 PEPOCO reenter) 28.2004 am0v0. Myth 31.2004 ACOCAPFT . 0.1ER TAxPiol, .1.4001 On Fie LAST STATMENT F1094.9 27. 2004 trP41710 MAW WOVE 1,136.286 CURRENT (%) 76.0903 17.711.055 10.1397 1.795.843 17,445 1,046.723 58.2859 $8.032.671 5220,418 $5.613.779 Corporate Bonds DESOWIX.1 FANNIE MAE CMO/SEINES 2C034 3 S RCR-VO FLTR DATED DATE 02625103 800K ENTRY ONLY CAR 03/2 3 0% FACTOR -.7.70304589 Total ComorateBonds TOTAL FIXEDINCOME sat SIMOLCIAP "Of 313921042 IARGN 35,152.293 13.1951 AONVED NC( Phalan "AWE entrasi 4.638.371 40.485 131141110 MOM NCOME 2.429.023 $4.638.371 $40.485 52.429.023 CURROIT MD ea 52.3680 $12.671.042 5250.903 58.042.802 YOUR PORTFOLIOHOLDINGSACCRUED INTEREST 5260 903 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $8.042.802 YOUR PRICEOPORTFOLIOHOLOINGS 512.700.378 02/ 0401/04:1231 CO1 EFTA01321045 I SSEZZOCIL.43 BEAR STEARNS OFFICE SERVICING YOUR ACCouNr Bete. Stearns & Co. Inc. 383 Madison Avenue Nes TA. New Ycsk 10'.79 6 • c Repurchase and Reverse Repurchase Transactions with Bear,Stearnsand Co.Inc. outstanding as of date of statement MOM TAROUCEN rts %HOLLY OWNED EDMOND' F... Sietms SO:utei Cana 0-e PiefrotEch Caw Wm 1201.3859 FINANCIAL TRUST CO INC STATENENT KRICO TeDlyery 25.7004 THRODCA AWED 31. 2004 ADOCANT AtAISER ?AVATAR NINU9 on me LAST ETATIDETTE Fetnagy 27.2004 PURCIUDV START DATE SIRAICITESt MD PAIDE4 RATE TURCIALSE P I PITTOPAL ACCAVED APO INRREST• ounarry DACE MOND OS, DESCRITOD‘ YOU SOLD GOVERNMENT NAT ONAL MIT ASSOC (REPO) 03418/04 04108/04 1.300 4.107000 4.159 44.0:0.000 38374F087 SERIES 2004-5 CLASS P 5.8600 02/20/33 0 YOU SOLD (REPO) 03/08/04 0008/04 1.300 -2.376,000 -2.059 4.000.000 3128111085 F H L M C • STRIP PRINCIPAL ONLY m YOU SOLD (REPO) 03/24/04 04/08/04 1.300 8.523,000 -2.462 -10.000.000 38.374FCN2 GOVERNMENT NATIONAL MTG ASSOC SERIES 2004.2 CLASS S 12.2200 01/16/34 C m YOU SOLD (REPO) 03/24/04 04/08/04 1.300 4.340.000 -1.253 -15.000.000 3136FAL01 FNMA-SM8S PRNCIPAL ONLY SERIES 122 CLASS PO 03/01/32 YOU SOLD GOVERNMENT NATIONAL 1470 ASSOC H (R010) 03/25/04 04/08104 1.300 -100.000 -25 44.389.962 383741044 SERIES 2004-2 CLASS S 6.1100 01/16/34 YOU SOLD USTR 3.2500 01115.09 r (REPO) YOU SOLD 03/26/04 OPEN 1.000 .10.275.000 -1,751 -10.000.000 912828891 USER 3.000002115/09 (REPO) 03/26/04 OPEN 0.940 -20.250.000 -2.947 -20.000.000 912828822 TOTAL REVERSE REPURCHASE TRANSACTIONS so SO TOTAL REPURCHASETRANSACTIONS S-52071.000 545.666 65805£00 IND ANOS I1W alsiari EFTA01321046 CLEARER TICLON ITS verCIA9 GAD SuILSODWIr ii C in r 0980SEOCIN9- ANGS 8 b.) IJ LA IJ In BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Boot. Steams & Co. Inc. 383 MadImo Avarua New Yak. New York 10179 7 errt Transaction Detail INVESTMENT ACTIVITY Be c Scams s it cap. One Afrivace. On NOT liate 11201.309 FINANCIAL TRUST CO INC ALAMEIN' PIRKO IRtnIlly 28.2004 TORLottl. Minh 31.2004 scow, NviterN 'NORMA Nulieen On Ft LAM BTATOIENT Fans, 27.2004 StRIDAINT It.0 OAR omit mmeacroi DESCRPTIYI 01•XLCUSIP OW= Ma Mil AXIOM Char Nan! 03/05/04 PRINCIPAL FEDL HOME LOAN MFG CORPOS03602 3128HVAS5 -26.911 SERIES 223 CIASS PO CUE 1801/32 PRINCPAL REDUCTN 03-15-04 03)15/04 PRINCIPAL FEDERAL HOME LOAN MFG CORP 31392R6U0 -1.439.000 SERIES 2471 CLASS YT 1.030 DUE 03/15132 PRINCPAL REDUCTN 03-15-04 03415/04 PRINCIPAL FEDERAL HOME LOAN IATG CORP 31392R6U0 -543 SERIES 2471 CUSS Tr 1.000 DUE 03115/32 PRINCIPAL MUM/03.15-04 03/15/04 PRMCWAL FEDERAL HOME LOAN MTG CORP 31392T6E2 -835,948 SERIES 2483 CL SL 5.910 DUE 0385/32 PRINCPAL SIMMER 03-15-04 03/15/04 PRINCIPAL FEDERAL HOME LOAN MFG CORP 313927/32 -724.581 SERIES 2488 CUSS SO 6.910 DUE 03/15/32 PRINCIPAL REDUCTN 03-1544 03/15/04 PRINCIPAL FEDERAL HOW LOAN MTG CORP 31393FAF3 -900.106 SERIES 2530 CUSS SE 6.310 DUE 02/15/32 PRMICIPAL REOUCTI403-75-04 03115/04 PRINCIPAL FEDERAL HOME LOAN FRG CORP 31393F086 -386.103 SERIES 2526 CLASS SI 5.910 DUE 0V15132 PRLYCSIAL REDUCTN 03-1644 03/15/04 PRINCIPAL FEDL HOME LOAN Pac CORPOS03602 3128HVAB5 26.911.30 SERIES 223 CLASS P0 DOE 1201132 PRINCPAL PAYMENT 03-15.04 On ommotizal cm YNP EFTA01321047 rn 8 IJ lA IJ BEAR STERNS OFFICE SERVICING TOM Afnry Wr Bear. Stearns 6 Co. Inc. 383 Madison Avenue New York. New York 10179 Transaction Detail (continued) INVESTMENT ACTIVITY (continued) 90111MINT IRAK per DAR TIOAIICHY4 OESCRODOW SYMIOUCIOrn OuvalY MCI 03/15/04 PRINCIPAL FEDL HOME LOAN MEG CORP/503802 3128HVA85 SERIES 223 CLASS PO WE 12/01/32 PRIN R/0 02-04 PM 03-15-04 REPO P 6I 0.0000 03/2404 03/19/04 BOUGHT GOVERNMENT NATIONAL MTG ASSN 38374FCN2 9.880596 100.37500 SEWS 2004-2 CLASS SG DUE 01/1612034 12.220% ACCR. INT. m 032504 PRINCIPAL REF • 2004 0987022111332 031957100000 BS FEDERAL NATIONAL MEG ASSN 31360101 STRP MTG SERES 322 CL PO ci 0.001 DUE 03/01/32 PM 800244 P/003-25-04 m 03/25/04 PRINCIPAL REPO P 6I 0.0000 FANNIE RUE CMCVSERES 2003-13 313924)82 453.249 S R0140 RV 6.910 DUE 03/25/33 PRINCIPAL REDUC1N 03-25-04 H 032504 PRINCIPAL FEDERAL NATIONAL MTG ASSN 31393C2C6 -429.899 SERIES 2CO3-49 CUSS SW 5.910 DUE 01/25/33 PRNCPAL REDuCni 03-25-04 r 0328104 03/2904 BOUGHT UNITED STATES TREASURY NOTE 9128288V1 utmost' CUE Dins/moo 03.250% 11 15 SPECIAL r4STRUCTIONS ACCR INT. GVER REF • GO/351009 A3 AS OF 03/25104 03/26/04 03/25/04 BOUGHT UMTED STATES TREASURY NOTE 912826922 20.000.000 T980SEOCIND- ANGS DUE 02/15/2009 03.000% FA 15 SPECIAL INSTRUCTIONS OVER REF • 608.51011 A' owner IHROLvor Os WHOLLY Overela SAAGOARY By Mom Season COM 014 lAterrach Lerner ONO ereerto. Nor York 1120/.3859 FINANCIAL TRUST CO INC 87ATEVEL1 IVACO FebnOly 28. 2D3I THROWN March 31. 2004 .Lemon ILLAVER TOONOTA MASER al Fle LAST STAreirorr February 27.2004 Oac Aµ:LNT MOH AUG VT 55.386.25 9.917.849.04 26431.31 210881145 0.01 0.01 5.9 944.480.37 5293.186.00 EFTA01321048 CLEARED 114NOUGH ITS NHJµV °AWED SJOSIYARY O -n C in r Z980SEOCIN9- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New Yak 10179 9 a .6 Transaction Detail (continued) INTEREST Seer SW. SeCureSel CoS Ore Merobech Oven MEM SIS et 20 .use FINANCIAL TRUST CO INC STATEMENT PteLl00 February 28. 2004 SEROWE Minh 31.2004 ACOCAert NOME TAXPAWA SWAM On Flo tint STATOMMT Ettaurry 27. 2004 0121 OLSCRODOS SYMIOUCUSI. WAMITI MR 09 01ST SWUM MET AMOUNT 03:0104 AVG BAL 161.125RT 4.137 536.94 021 OFFICE INTEREST 0204 03/15/04 FEDERAL HOME LOAN MTGCCRP 31392R6U0 1.0000 28,790.40 SERIES 2471 CUSS YT CUE 03n5/2032 1.000 INTEREST PAYMENT 03-1504 03/15/04 FEDERAL HOME LOAN AEG CORP 31392T6E2 5.9100 98.73431 SERIES 2483 CL St DUE 03/152032 5.910 a4TEREST PAYMENT 03-15-04 03/15/04 FEDERAL HOME LOAN MTG CORP 313927/32 6.9100 100072.08 SUES 2488 CUSS SO DuE 03/15/2032 6,910 INTEREST PAYMENT 03.1544 03/15/04 FEDERAL HOME LOAN MTG CORP 31393FAF3 6.3100 120,46340 SERIES 2530 CLASS SE DUE 02/15/2032 6.310 INTEREST PAYMENT 03.15-04 03/15/04 FEDERAL HOME LOAN AEG CORP 31393FG86 5.9100 48.395.21 SERIES 2526 CLASS SI DUE 02/15/2032 5.910 *MEW PAYMENT 03-15-04 03/16/04 GOVERNMENT NATIONAL AITG ASSN 38374FCM4 6.1050 224.721.09 SERIES 2004.2 CUSS S8 DUE 01/16/2034 6.105 INT RA> 03-04 PO 03-16-04 REPO P 6I 6.1056 03/22/04 GOVERNMENT NATIONAL PATG ASSN 38374FD87 5.8580 214.620.63 SERIES 2004-5 CLASS PS CUE OV20/2033 5.858 NT RD 02-04 ND 03-20-04 REPO P 6I 5.6567 03/25/04 FANNIE MAE CMO/SERIES 2CO3-13 313921062 6.9100 207.331.92 S RCR4'O FOR DUE 03/25/2033 6.910 INTEREST PAYMENT 03.2544 OTC 04.01/04:1231 001 VS29 EFTA01321049 0 0 L I C in r £9805£00- IN9- ANGS BEAR STEARNS MICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Mattison Avenue Now York. New Yak 10179 10 re •t Transaction Detail (continued) INTEREST (=timed) OAR 03/25/04 FEDERAL NATIONAL MTG ASSAI SERFS 2003-49 CLASS SW DUE 01125/2033 5.910 INTEREST PATIADTT 03-25-04 TOTAL ocsanenae STIOMUtuSP 31393C2C6 parry RAT[ 5.9100 CCM ALCM 0.244E2 TW00Lmi rtF ',wage MOM, Sulam...iv Mat Sten Swinton Cup 0e Weraedi Min Mann Romp New you 112014Ma FINANCIAL TRUST CO INC mAmamT PEMO Fotruity 28.2004 m30004 Myth 31.2004 AMORY? AMMER TAAAMt MAMA On Fik LAST enamor Feiner/ 27.2004 MEM MONT 89.344.20 5.536.94 51.132.673.44 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear,Steams 8, Co. Inc. SETROAMT qR 03/01/04 TARE fltuiSACTIN JOURNAL CMCRIMON FEDERAL NATIONAL MTG ASSN STRIP AEG SERIES 322 CI PO 0,C01 DUE OW01/32 PAM F0583100 82 TERM REPO AGREEMENT MAJOUCUSI 3135FALCI1 OUONTITT 5.551.880 ow MOUNT 4.362.000.00 CAECA 1410.na 03/01104 JOURNAL FEDERAL NATIONAL MTG ASSN STRIP MTG SERIES 322 CL PO 0.001 DUE 03001132 FITM F0613264 81 REPO AGREEMENT 3136FAU:ll .5.551.860 4.382.000.00 03/01/04 JOURNAL FEDI HOME LOAN MTG CORPArS03602 3128HVA84 USES 223 CLASS PO DUE 12/01/32 RDA F0563100 AZ TERM REPO AGREEMENT FEDL HOME LOAN MTG CORPOS03602 3128115%85 SERIFS 223 CIASS PO WE 12/011 FM F0613 32 264 Al REPO AGREEMENT 2.112.812 1480.000.00 03/01/04 JOURNAL -2.112.812 1.591.030.W 03/01/04 INTEREST FEDERAL NATIONAL MI6 ASSN STRIP TAM SERIES 322 CL PO DUE 03/01/2032 0,001 FMA F0583100 BZ REPO WTEREST 3136FALQ1 472.55 027 0410144.12-3I VIM EFTA01321050 In 8 IJ IJ LEI a'T BEAR STEARNS OFFICE SEFMCING YOUR ACCOUNT Be.:. Stearns A Co. Inc. 383 Madison Mena New York. New Ycek 10179 11 cc Transaction Detail (continued) r. AssAn TEOTOLOTE ETS yAIDLEY OwneD SueS0vav Bet. Swans SAATATTE Cap. Ono IATA-Asch Cant /dam &cone% kat rat 11201.3.969 FINANCIAL TRUST CO INC STATEWSY PERETO reteutry 28.2004 TE•tou3a March 31.2004 AcccuAT Aram EmpAren NAST On FM REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) LAS7 STATDeT rebury 27.2004 9.011.003if TRADE DUE DATE 03/01/04 0 03108/04 -n 03/08.04 C in 03/08/04 r 03/0804 03/08/04 03,09/04 P9805£OO- O19- ANGS litEASACTON DESOWITOTE INTEREST FEOL HOME LOAN IATG CORP, S03802 SERIES 223 CLASS PO DUE 12/01/2032 ELCOO FIIIA F0583100 AZ REPO INTEREST JOURNAL FEDERAL NATIONAL MTG ASSN SNP MTG SERIES 322 CL PO 0.001 DUE 03/01/32 WM F0683174 83 REPO AGREEMENT JOURNAL FEDERAL NATIONAL MTG ASSN SNIP MFG SERIES 322 a PO 0001 DUE 03/01/32 FinA 10583174 B1 REPO AGREEMENT JOURNAL FEDERAL NATIONAL MTG ASSN SNIP MTG SETtIES 322 a PO 0.001 DUE 03/01/32 am F0683174 82 REPO AGREEMENT JOURNAL FEDERAL NATIONAL MTG ASSN STRIP MIG SERIES 322 CL PO 0.001 DUE 0301/32 FRU F0613264 82 TERM REPO AGREEMENT JOURNAL FEDL HOME LOAN MTG CORPeS03602 SERIES 223 CLASS PO DUE 12,01/32 HIM F0413254 AZ TERM REPO AGREEMENT JOURNAL FEDL HOME LOAN MTG CORPeS03602 SERIES 223 CUSS PO DUE 12431/32 MN F0683174 Al REPO AGREEMENT SIUOUCUSAT EPAVITIEY DEBIT AMOUNT CREDIT AMUR 3128IIVA85 171.17 3136FAL01 -5.340.971 307.000.00 313601.01 -5.340.971 0 4.37.030.00 3136FAL01 5.340.971 4,307,000.00 3136FAL01 5.340.971 4,382,000.00 3128HVA85 2.057.426 1.591.000.00 3128NVA85 4.057,097 2,378,000.00 027 04/01134:1Z31 C01 VU) EFTA01321051 rn I8 1,4 IJ 1-91 BEAR STEARNS OFFICE &ERVEN& YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madtson Avenue New York. New York 10179 12 t• Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (COMMAS) C) SETTLEMX1 TRAM DATE art 03/08/04 0 m 03/08/04 03/08/04 C m 03/00504 03/08/04 r 03638/04 0303/04 S980SEOCIN9- ANGS IRAX94110.4 OESOIMMON JOURNAL FEN HOME LOAN MTG CORPES03602 SERFS 223 CIASS PO DUE 1801132 nim F0683174 A2 REPO AGREEMENT JOURNAL FEDL NOME LOAN MTG CORPeS03802 SERIES 223 CUSS PO DUE 12/01/32 MEM F063174 A3 REPO AGREE8 MENT JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004-2 CLASS ST3 6.105 DuE 01 el 8/34 FILM F0423194 AZ TERM REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004-2 CUSS 58 6.105 Du( 01/3634 FITM F0683173 81 REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL MTG ASSN SEEKS 2004-5 CUSS PS 5.658 DUE 02/20/33 RIM P0373123 62 TEAM REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL MTG ASSN SUES 2004-S CLASS PS 5.858 DUE 02/20/33 FPM F0683172 Al REPO AGREEMENT INTEREST FEDERAL NATIONAL MTG ASSN STIPP MPG SERFS 122 CE PO DUE 03/01/2032 0.001 FILM F0613264 BZ REPO INTEREST STNIEUCUSIP °WRIT 3128KVABS 3.067.097 3128INAB5 4,057.097 38374FCm4 44,168,735 38374FCM4 -44166,735 38374F087 44/200.CW 38374F067 44,000,000 3136FAL01 0-Lunio TraCcOM VINOLLY OmPLO SUPS/PAW Ilear. Sperm Si.o.nneS Co. ON 1APULOXII Una Rath &W WI Mee York 11201.3859 FINANCIAL TRUST CO INC STAMM."' PERM Feetvacy 28.7004 11111C00.1 March 31.7004 ACCOUNT PVARIR TAXPAYER WARRR On Fie LAST STA:Melt Fotrue9 77,2004 IMO PACJIT CAM/ MOM 2.376.000.00 2.000.000.00 2,376,000.03 4,544,000.00 6.209.000.00 1,107.87 7,107,000.00 072 04.01/04:1831 001 V829 EFTA01321052 171 8 IJ LJ LA 00 00 0 -n C in r 9980SEOCIND- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT B&&. Stearns & CO. Inc. 3B3 Maclean Avenue New York. New York 1017' 13 ow Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) SETTLDADR MICE DATE DATE EP/AMAMI OLSCRIPPON Symeoueuse WWIEY DEM AMOUNT CREW AI/Olta 03/08/04 INTEREST FED(. HOME LOAN MTG CORP*S03502 312810/A85 402.17 SERE% 223 CUSS PO DUE 1V01(2032 0.001 FRA1 10613254 AT REPO INTEREST 03/08/04 INTEREST GOVERNMENT NATIONAL MTG ASSN 38374FCM4 1.87738 SERIES 2004-2 CLASS 58 DUE matzos 6.106 film 10423194 AZ REPO INTEREST 03/C6/04 INTEREST GOVERNMENT NATIONAL MTG ASSN 383741097 6.950.63 SERFS 20044 CLASS PS DUE 02/20/2033 5.858 RDA F0373123 B2 REPO NTEREST 03/19/04 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FALQ1 5.340.971 307.000.00 SNP MTG SERIES 322 CI. PO 0.001 DUE 03/01/32 FILM 10683174 B4 TERM REPO AGREEMENT 03/19/04 NTEREST FEDERAL NATIONAL MTG ASSN 3136FALQ1 121.95 STMP MFG SERIES 322 Cl. PO CUE 03431/2032 0.001 F1TM F0583174 64 REPO INTEREST 03/24/04 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FALQ1 -5,340,971 4.340.000.00 SIRP MG SERIES 322 CL PO 0001 DUE 03/01/32 FRM F0843132 Al REPO AGREEMENT 03/2404 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374R:144 .43.859.035 552.000.00 SERIES 2024-2 CLASS SO 6.110 DUE 0116/34 F111.1 /0643136 Al REPO AGREEMENT 014840 11010tra 7$ VEMCUM OPTIE0 SUISOARY M. Saes SEAMS Cap. 0* Ustalch C— Pt treat!. Nw Tort 112014139 FINANCIAL TRUST CO INC STArniam PERO° Febnary 28.2004 Papua, March 31. 2001 ACCOLN- .ELVIMR taaALTR mann/ LAST SIAM Pea 01 Pb retina, 27.2034 027 04/0034.12:31 Dal via EFTA01321053 rn I8 b.) to IJ BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams b Ca Inc. 383 Madison Avenue Nevi Yak. New York 10179 14 one Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) -n smarm Ina DATE OAR 03424/04 03/24/04 0324/04 C in 03/24/04 0324/04 r 03/25/04 032504 L980SEOCIA19- ANGS ntrasMnai DE5CF4PnON JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2C04-2 CLASS SO 6.110 DUE 01/18/34 nu' F0683172 82 TERM REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004-2 CUSS SG 12.220 DUE 01/16/34 FITIA F0843060 REPO P4RUPADET Al JOURNAL GOVERMIAENT NATIONAL MTG ASSN SERIES 2004-2 CUSS SG 12.220 DUE01/16/34 F014 F0843050 42 REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL MTG ASSN SERFS 2034- DUE 02/C16/34 SG USS 12.220 1 FIlM F0843050 A3 REPO AGREEMENT DETEREST GOVERNMENT NATIONAL MTG ASSN SERIES 2004-2 CUSS 58 DUE 0166/2034 6.110 FMA F0683172 82 REPO /MEREST JOURNAL GOVERNMENT NATIONAL MEG ASSN SERIES 2004-2 CLASS 58 6.11000E 01/16/34 FITIA F0853301 Al REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL NM ASSN SERIES 2004-2 CLASS 58 6110 DUE 01/16/34 FM F0843136 A2 TERM REPO AGREEMENT =ARCO THROUGH ITS WHOLLY Gate SUMMARY NW. germ Sabin CO,. ale *MUCK CRIB Math 11201.38 FINANCIAL TRUST CO INC STATEUFHT PER= Pattaly 28.2004 THROUGH Wirth 31.2004 /Otani, TAXPAYER hum w0 On Ne vat STATDIENT Fetquery 27. 2004 804824=50 0010007 DWI AVOW MCC evOoro 38374FCM4 43.859.035 4.544.030170 38374FC62 4.880,596 9.021.000.00 38371/7/02 9.880196 6.021.00.6.00 38374FCN2 -9.1.3.596 8.523.000.00 38374P,A4 2.625.42 38374FCM4 43,859.035 700,000,00 38374R:114 43.859.035 S52.000.00 027 04101.04.121I 001 NM EFTA01321054 LEO= Tnectra. Is W.I0.17 OARED SUBSIDIARY BEAR STURNS OFFICE SERVICING MAI ACCOUNT Sem. Steams 8 Co. Inc. 383 Madsen Avenue New Yock. New Ycik 10179 15 or in Transaction Detail (continued) REPURCHASEAND REVERSE REPURCHASETRANSACTIONS (continued) Similar MSC 040 DATE DIPASACTON DESCRIPTOR SYMBOUOAIP ouNalre or MOM OMIT wane 03425/04 INTEREST GOVERNMENT NATIONAL MEG ASSN 38374FCM4 19.93 SERIES 20048 CLASS 56 MX 0111642034 6.110 F1TM F0943136 A2 REPO MEREST 03/26404 JOURNAL UNITED STATES TREASURY NOTE 9128288V1 .10.CC0803 10.275.000.00 F1TM F0860667 Al 3.250 DUE EMI VW -n 03/26/04 JOURNAL REPO AGREEMENT UNITED STATES TREASURY NOTE 912828822 -20.000.000 20.250.000.00 RIM F0860670 Al C 3000 DUE 02415/39 REPO AGREEMENT TOTAL 3.48244.749.27 179.051.000.00 in z J MISCELLANEOUS km. Sten WWI* Cop. Or 1Aelnach Dols Nat Ise WO 1120, 0350 FINANCIAL TRUST CO INC armee, Poem Fetruwy 2&2004 DIADUCI4 march 31, 2304 ACCOuPrt Wan TAXPAYER MASER CO Fro LAST STATOWINT Febnary 27.2004 r 8980SEOCIN9- ANGS IJ IJ ,) O aU DAR Know DIANSACTION 0/33001011 DEW MOM CREW MOM 03/01/04 JOURNAL FITG RIM 38513.00 03102/04 JOURNAL FRG FIRM 222.355.00 036464 JOURNAL RTG FiTm 380 03/1164 JOURNAL MG FRM 58.30980 03/12404 JOURNAL MG Fine 113.00 0341564 JOURNAL FITG FRM 22800 03415404 JOURNAL FEB 04 SPEC CLEARING FEES 450.00 03419/04 JOURNAL FITG ATM 58.990.00 03/23/04 JOURNAL FRG TO ATM 431.728.00 03/2564 JOURNAL MISC ADJ TO CASH BAL 0.50 027 004044:12:31001 VSL EFTA01321055 I9Sai:00V1.43 0 9 1 C in r _ 69805£00 INS ANGS BEAR STEARNS orncc SERVICING YOUR ACCOUNT Bear. Steams a co. Inc 383 Madison Avenue Now Not New York 10179 16 one Transaction Detail (continued) MISCELLANEOUS (continued) DATE MO AY nursAcTori murmur Can mann CREW SWUM 03/25104 JOURNAL MISC ADJ TO CASH 8AL 0.38 03/3004 JOURNAL Firm TO FITG 30,353,002.38 TOTAL S-30,926.845.88 $431,844.36 Your messages IOW Excess SIPC Account Protection Update Effective February 16, 2004, the commercial insurer through which Bear. Steams Secwities Corp. obtains excess SIPC protection changed to Customer Asset Protection Company ("CARCO% a New York licensed instance company. CAPCO has an A+ financial strength rating from Standard and Poor's. End of Statement CUOMO 11010u0n ITS SOOLLo INME0 SUSSICUJIY W. Munn Stone. Cop. Cr* Mee eon Comet 11011 Illy Yon 112010859 FINANCIAL 'must CO INC STATEUCC nro00 rebury 28.2004 wawa. Medi 31.2004 ACCOvic1 MAO - ASSAYER µA.91 On ON LAST STATO/C/iT Feeva-y 27.2004 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 which govern these investments. Recently. a joint Industry/NASD Task Force colaborated to create a Disclosure Statement to address these issues, We are providing this Disclostre Statement to you for the purpose of reinforcing these concepts and to initiate the opportunity for further discussion of these issues 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: hughtwriv.nasdr.com/breakpoints_statement.asp 027 0411,4:12.31 001 1529 EFTA01321056 OZ CD notetno ITS v.O.TT anew wavelet.* rn IS b.) IJ to 10 1.0 0 TZ r l 0 m r OROSEOCIN9- ANGS BEAR STEARNS cfnCE SOlyCeM YOUR ACCOUNT Beer. Stearns & Co. 383 Madrson Avenue IS A 10179 ACCOUNT D1CUTNE GNMA GOVT BONO DSO OUR YeteSTTE venebeatsteams.corn What's In This Statement Ilirillirrittllll I I Financial Summary 3 FINANCIAL TRUST CO INC Your Portfolio HolrengS 4 OD JEFFREY EPSTEIN Trantanban Detail 7 6100 RED HOOK QUARTER Your Messages 18 STE 83 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio Cash Eq.netent 24 5 a I 5231 ) 5.13 933 518 TOTAL VALUE OF SECURII%S THIS MOO 14.475.669 LONG ACCRUED INTEREST 178.353 rzed $14,475,669 Itorra S32.720.098 NET CREDIT BALANCE 237.245 Cumit meat Ss IC EQUITY mei memo 514.891,267 in Mtwara meat Cj Sew wee Sue NET EQUITY IAST STATEMENT 19,401,851 CHANGE UNCE LAST STATEMENT -4.510.584 There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. e.g Swann Scones Cn Abet 0-• Liscrecon nete ave, &nee . Now Y Ce en 112014659 FINANCIAL TRUST CO INC STATEuecT PE,00 lenity 31.2004 MIROUOI Febtvary 27.2004 ACCO-147 VIA/St R TAxeRerst vwrn Cn Tile LAST STATieveve Ana ry 30. 2004 SIN Ilk sumo" 1$1:(Orfarlebnel en..., MY.Tara Medea nolo iltonsat nis Varner. Vold be Mimeo for >cur recolls See reverse V& for rue rt.:nine-A 027 02,21INTI I 12 001 1925 EFTA01321057 0-20120 11.1140C. rts 04040 SV0801.20 Bow Sure SeCulDp1 Cap. Crolareetec, Cam ikelh Mow up ino1.111.1.9 FINANCIAL TRUST CO INC 0 0 z m C in z -H r IL805£00- O19- ANGS 8 IJ V.2 In CT W STATEMENT BACKER IS PRINTED ON THIS PAGE 027 11240104.11:32 aol Pen EFTA01321058 P1 IJ BEAR STEARNS orricE sERVIcyc YOUR ACCOUNT Bear, Steams & Co. Inc. 383 Madison Avenue New Matt. New York 10179 0.8.1981.= 3 a • I Cash Flow Analysis DOS POIOD Income Summary nu 042100 WARM OAR Opening Balance 5.13.933.517.82 Goa. Agency Im. 935.62164 1,444,454.70 Corp. Bore Int 210,215.02 422.37102 Securities Sold 47.957.263.09 Reverse Reptrchese Int. 353.90 1,772.78 0 DIA.:lends/Inteest lAscelleneous 1.163.014.99 12,615.00 Total 51,146,189.56 51.888.597.50 0 Amount Credited 549.132.893.08 Bird Purchase Int. Margin ke. Paid 0.00 -1,233.76 -175.968.71 -1.233.76 Securities Bought -34.888.580.15 Repurchase Ire- Exp. -4.858.21 -•158.21 e l Diddends/Interest Charged -18.413.09 C Miscefamous -55,137.W in Amount OWited 5-34.982.130.24 Portfolio Composition Cash/Cash Equivalent 237.245 Net Cash Activity 14.170.762.84 Filed Income 14,475.669 Closimy Balance 5237.245.02 Total 514.712.914 r ZL805£00-O19-ANGS Cash Balance Summary COMM as wen -13.933.517.82 237.246.02 Net Cash Balance 5-13.931517.82 5237.245.02 027 02,2604.11.32 001 0..EARED Deal AI Amax OV&CO 101000ARY 040 SNOTS Saes c_ a.. lateue, Crow Nes eet ~i tot 112014469 FINANCIAL. TRUST CO INC SWMunn stm00 Jaruary 31, 2004 1S110u0s creme, 27.2034 ACOOLIST SLUMS Tssiseern htsant On NO LAST /STATtvisT .larAuty 10. 2004 Your Portfolio Allocation - ram hC011e 99% 11.01000 row• Oenalt 0.01 001•%1 it VIA inns: .44n TTe Monson taasouse denTO VSZS EFTA01321059 -n C in r EL805£00- O19- ANGS BEAR STEARNS OFFICE SERVICS5 YOUR ACCOUNT Bear, Steams & Co. Inc. 383 5.43chson Avenue New York, New York 10179 4 0, 0. Your Portfolio Holdings CASH & CASH EQUIVALENTS etsozonck CASH BALANCE TOTAL CASH & CASH EQUIVALENTS 5237.245 SnASOLCvSIP ISTIVATED O. OutVens PRCE watt 0244 SCOW 11110 lw 237.245 FIXED INCOME Government & Agency Obligations OESOISPTION STIMOUCUSI ACV mit 0(2111Tt VARSE7 VMLE MCBAD 12702211 [SWAM AMYL DIMAS Waluer 00.0 rW FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS SE 31393FAF3 MRGN 22.924.959 8.8816 2.036.100 48.180 1.445.419 70.9896 DATED DATE 10/11/02 BOOK ENTRY ONLY DUE 02/15/2032 6.305% FACTOR .19206265 FEDERAL HOME LOAN MEG CORP 31393FG86 MRGN 9.833.727 8.0878 795.328 19.357 590.682 73.0116 SERIFS 2526 CUSS SI DATED DATE 10101/02 BOOK ENTRY ONLY DUE 02/15/2032 5.905% FACTOR .38208264 FEDERAL HOME LOAN MTG CORP SUES 2471 CIASS YF 31392R6U0 MRGN 34,548.473 2.0083 693.849 11.520 345.485 49.7925 DATED DATE 06/07/02 BOOK ENTRY ONLY COE TOR 0115/2032 1.000% FAC . .3454%474 FEDERAL HONE LOAN MTG CORP SERIES 2488 CUSS SO 313927/32 1ARGN 17.389.674 9.7269 1.691,474 40,025 1,200.757 70.9888 DATED DATE 07/08102 BOOK (WRY ONLY DUE 03/15/2032 6.905% FACTCR .• .34779352 027 02,2004.11:32 081 =AR LO intarai as w,asv 02020 $4.1190030 Bs. tors Serucust 022 Corte North atwo‘ Plat vas 1123218S9 FINANCIAL TRUST CO INC smo.r.ww• PereCO January 31. 2004 ThROLOn Ftttu 27.2004 AceCtliT LAMP TAIPAYER MEMBER On File LAST STATVWMT lectors 30.2054 EFTA01321060 CLEARED nOTOLGIT ITS WITO.LY ONO) SURSOARY Tn 8 b.) LA IJ -n C in r VLSOSEOCIN9- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bette. Steams & Co. Inc. 383 Madison Avenue No. York New York 10179 5 a .4 Mee Remo sotto Coo OR IleTnOch Wier Tat boar. Nor Tot 11201.3$39 FINANCIAL TRUST CO INC STATOTOTT PORT00 lovely 31.2004 oiRoubi Feenag 27.2004 Your Portfolio Holdings (continued) Government & Agency Obligations (continued) DESCRIPTOR rivecmcus• /cc Tin PRICE MARKET YALU( ACCRUED MEREST ACCotrir TRATTINR moovirit NumER On no lAST sTATELTENT /anon 30 2004 ESTOOTED CURRENT NIRO TICOME YIELD 09 FEDERAL HOME LOAN MTG CORP SERIES 2483 Cl. Si. DATED DATE 07/02/02 BOOK ENTRY ONLY DUE 03115/2012 5.905% FACTOR . .34779351 FEOL HOME WAN MTG CORPOS03602 SERIFS 221 CLASS PO DATED DATE 12/01/02 BOOK ENTRYONL DUE 12/01/2032 Y FACTOR . 62787892 FEDERAL NATIONAL MTG ASSN SERFS 2003-49 CLASS SW DATED DATE 04/30/03 ENTRY ONLY 3139276E2 3128HVA85 31393C206 PARGN MRGN IARGN 20,062,445 1,026.582 18.140.954 7.8695 83.1875 10.8000 1.578.811 853.988 1.959.214 59.608.764 39.491 5.955 5164,528 1.184.687 1.072.130 55.829.160 75.0367 54.7225 BOOK DUE 01/25/2013 5.910% FACTOR . .74633379 Total Government& Agency Obligations Corporate Bonds °MOMS SOMDLCUSIT ACC! no( COVOITT MEE LOOS OWE ACCRUED INTEREST (SITUATED AXIOAL 'RECCE CURRENT VELD OR FANNIE MAE CMOISERIES 2003.13 S RCR.V0 FUR DATED DATE 02125/03 BOOK ENTRY ONLY DUE 03/25/2033 6.910% FACTOR - .72011086 Total Cmporate8onds 31392113K? MRGN 36,005.542 13.5171 4.868905 $4,888,905 13.825 513.825 2.487.983 52.487.983 51.1204 TOTAL FIXEDINCOME $14,475,669 5178,353 58.317,143 027 DnitO4.11 32 col OOP EFTA01321061 m C m H r SLSOSE00- 019- ANGS I IJ IJ BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New Yon'. New York 10179 Your Portfolio Holdings (continued) YOUR PORTFO.IOHOLDINGSACCRUED INTEREST 5178.353 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME 58.317143 YOUR PRICEDPORTFOUOHOLDINGS $14,712.914 Repurchase and Reverse Repurchase Transactions with Bear.Stearnsand Co.Inc. outstanding asof date of statement POKMASE, Inn.PC.0.‘f START DATE CATE MGM RAR latIrAASE nnel: PRICOA.N. ;COILED ;CPO POIRLST* GUMMY IHa mown caw DESCRIPTION YOU SOLO GOVERNMENT NATIONAL WC ASSOC (REPO) 02/06/04 03/08/04 1.300 -6,209.000 -5.381 44.000.000 383741067 SERIES 2004.5 CLASS P 5.8587 02/20/33 YOU SOLD GOVERNMENT NATIONAL MTG ASSOC (REPO) 02/11/04 03/08/04 1.300 -2.030t00 -1.372 44.389.962 38374F044 SERIES 2004.2 CUSS S 6.1056 oine/34 YOU SOLD FNMA-SA(8S PRINCIPAL ONLY (REPO) 02/27/04 03/01/04 1.300 4.362,000 -472 -15.000.000 3136FALQ1 SERIES 322 CUSS PO 03/01/32 YOU SOLD (REPO) 02/27/04 03/01/04 1.300 -1.580.000 -171 -3.365.000 3121391:ABS F HLMC• STMT PRINCIPAL ONLY TOTAL REVERSE REPURCHASE TRANSACTIONS SO SO TOTAL REPURCHASE TRANSACTIONS S-14,151.000 5-7.396 nanlneWnnet ono 0-EARED 11.0tOlCal rs VrtOcin, 040 SIAISIVARy Row. SWAM Stara/ UM. One Mentucs Ono NaM Be New Vnt. 11201.3839 FINANCIAL TRUST CO INC ScA11:40ENT PE/COD January 31. 2004 11•COUGH FeOyary 27.2004 If rat, NT /MAIER MJCPAYOt MAIER cm nk IASI smarmy, Jewry 30.2004 EFTA01321062 rn 8 IJ IJ to 00 00 0 -n C in r 9L805£00- 019- ANGS BEAR STMRNS OFFICE SERVICING YOUR ACCOUNT Boar. Steams & Co. Inc. 383 313.disec Avenue New Volk ,;(.../ York 10179 Transaction Detail INVESTMENT ACTIVITY MOM TPROLG“ ITS MOLLY DMCD BuSSOVAY Beet Sierra SeculleS DN ustotern Colo Nann Sisia. Ytet 11201.3450 FINANCIAL 1RUST CO INC STAIWEra PEF0C0 laruzry 31.2004 *SOWN Carla, 27. 2004 ACCOUIO TAXPAYPI Nana On ne VST STA10/017 January 30.2004 SET1M104T 18.10E DM DAM lit4MACTON DISCIMMON SnAlCIALISP OLMMTTI pkaF OM /MOUNT CREW MOW 02/06/04 PRINCIPAL FEDERAL NATIONAL MTG ASSN 3138FAL01 -51.286 STRP MTG SERIES 322 CL PO 0.001 DUE 03/01/32 PRMICPAL REDUCTN 02-25.04 02/06/04 PRINCIPAL FEDL HOME LOAN MTG CORPOIS03602 3128HVAB5 48,368 SERFS 223 CUSS PO DUE 1201/32 PRINCIPAL REDUCTN 02-15-04 02/0904 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FALQ1 51.288 STRIP MTG SEEKS 322 CI. PO 0.001 DUE 03/01/32 ADJ POS NO 21204 02/09/04 JOURNAL FEDL HOME LOAN MTGCCRPRS03602 31281/0485 48,366 SERIES 223 CLASS PO CUE 12/01132 ADJ POS MO 2/2/04 02/17/04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 31392R6U0 -995.748 SERIES 2471 CLASS IT 1.000 DUE 03/15/32 PRINCPAL REDUCTN 02.15.04 02/17/04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 3139276E2 -578.234 SERFS 2483 Cl. St 5,935 DUE 03115/32 PRINCIPAL REDUCTN 02-1544 02/17/04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 313927/32 -501.201 SERIES 2489 CLASS 93 6.95 UE 0215/32 PRINCIPAL REDUCTN 02-15.04 02117/04 PRINCIPAL FEDERAL HOME LOAN MFG CORP 31393FAF3 -60L327 SERIES 2530 CLASS SE 6.305 ME 02/15/32 PRINCIPAL REDUCTN 02.15.04 02/17/04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 31393F088 -258.370 SERIES 2526 CLASS SI 5.905 OLIE 02/1932 PROICPAL REDUCTN 02.1904 027 02/2•04:11-32 401 Sate EFTA01321063 En I8 IJ 1, ) fn C• ,1) O I I m r LL805£00- IN9- ANGS BBNIZ STBNIZNS OFFICE SERVICING YOUR ACCCVNI Bear. Steams & Co. Inc. 383 Madison Avenue New Ted. New York 10179 8 a •• Transaction Detail (continued) INVESTMENT ACTIVITY (untrue summon rum 001E DATE TRAWSACTION DESCRIPTOR 02117/04 PR. /OPAL FOX HOME LOAN MTG CORNIS03602 SERIES 223 CLASS PO DUE 12/01/32 PRINCPAL PAYMENT 02-15-04 02125/04 PRINCIPAL FEDERAL NATIONAL MTGASSN STRP MTG SERIES 322 CL PO 0.001 DUE 03/01112 PRNCPAL PAYMENT 02-25-04 02/25/04 PRINCIPAL FANNIE MAE CMO/SERIES 2003.13 S RCR-DO FLOR 6.900 DUE 03/25)33 PRINCPM. REDUC1110245-04 022504 PRINCIPAL FEDERAL NATIONAL MEG ASSN SERIES 20949 CUSS SW 5.900 /25.433 Pita:PAL DuE01 RE131101H 02.25-04 02/27/04 02/25/04 BOUGHT FEDERAL NATIONAL MTG ASSN STRIP MTG SERIES 322 CL PO CUE 01/01/2032 00.001% 0987000510 2 REF 0 200401223546210000 BS TOTAL INTEREST OATE OLSCRIPIICA 02102/04 AVG BAL 828.258RT 1.730 1.233.76 021 OFFICE 441~70104 SnAllOUCUIP C0-04, 040004 ITS ~0.0 044443 Sunemiry Su "am 244,405 0" Ov 9440040 Cent hat Bro20n. Nun Y40 1120,4059 FINANCIAL TRUST CO INC STATTY0.7 P00) kris/ 31.2004 01.004.4 February 21. 2004 STIAKIJCUSIP QUA.VIRY PRICE AØ ~01 TAX1041.12 NuU00 03T STAITNENT Mir 43040 01244 January 30. 2004 MCC 4MOUKT 3128111/A85 48.366.15 31360101 51.285.95 31392982 -553.592 31393C2C6 -278.921 3136FALQ1 3.701.240 87.87500 3.252.464.83 5.3.252.464.83 599,652.10 WARM RAX (10 NW AMOUNT CREW! Paw 02417/04 FEDERAL HOME LOAN MTG CORP SERIES 2471 CLASS YT DUE 03/15/2032 1.000 INTEREST PAYMENT 02-15-04 31392R6U0 1.0000 29.620.18 021 01/20,01:1140 001 EFTA01321064 -n rn r 8L805£00- O19- ANGS I8 b.) to IJ BEAR STEARNS aft( SERVICING YOUR ACCOUNT Bear. Steams S. Co. Inc. 383 Maclean Avenue New York. New York 10179 9 o CLEMED THACmiti In maw mac Ma./ Ye. Sion Siloam Cop. lagnioth Caw Mae New Vat I I ter13158 FINA NCIAL TRUST CO INC rAniumrr moo Newry 31.2004 yrecuevi fetnery 21.2004 Transaction Detail (continued) INTEREST (=Grunt) ACCOLNY MAIM Done Noma cri FM LAST EAltletwr Ana, 30. 2004 0All OLSCRIKIN STIMOJCL6. OLIMMIY tat ern OM As3LINT CREDIT /MUNI 02/17/04 FEDERAL NOME LOAN MTG CORP 31392T6E2 5.9050 101,483.34 SERIES 2483 CL SL CUE 03/15/2032 5.905 MEREST PA174ENT 02-15-04 02/17/04 FEDERAL HOME LOAN MTG CORP 313927132 6.9050 102.872.54 SERIES 2488 CUSS SO DUE 03/197032 005 INTEREST PAYMENT 02-15434 02/17/04 FEDERAL NOME LOAN MTG CORP 31393FAF3 6.3050 17,179.33 SERIES 2530 CLASS SE DUE 02/1512032 6.305 IM ND 01-04 P/D 02-15-04 REPO PA I 6.3000 02117/04 FEDERAL HOME LOAN MTG CORP 31393FAF3 6.3050 123,518.25 SERIES 2530 CLASS SE CUE 02t15/2032 6.306 MEREST PAYMENT 02.15-04 02,17/04 FEDERAL NOME LOAN MEG CORP 313931688 5.9050 49,619.48 SERIES 2526 CUSS SI DUE 02/15/8032 5.905 INTEREST PAYMENT 024544 02/17/04 GOVERNMENT NATIONAL MTG ASSN 38374F044 6.0800 224,909.14 SERFS 2004-2 CLASS S8 DUE 01/16/2034 6.080 INT R/D 02-04 ND 024404 REPO a Al 6.0800 02/18/04 FEDERAL HOME LOAN MTGCORP 31393FAF3 6.3050 17,179.33 SERFS 2530 CLASS SE DUE 0211512032 6.305 REV ENTRY NO 217 02120/04 GOVERNMENT NATIONAL MTG ASSN 38374FD87 5.8100 213.033.33 SERIES 2004-5 CLASS PS DUE 02/20/2033 5.910 INT RID 01-04 PM024404 REPO P 4 I 5.8100 1:27 02/2004:1112 COI EFTA01321065 I LS1:1700-V.L.43 0 z ii C) m z r _ 6L805£00 IN 9 ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Beer. Steams 6 Co. Inc. 383 Mattison Avenue New York. New Yak 10179 10 a 9 Transaction Detail (Continued) INTEREST (ccoUnued) DAR cesonercee 02125/04 FANNIE AM CMO/SERIES 2003-13 RCR-VO FUR DUE 03125/2033 6.900 INTEREST PAVVIDIT 02-25-04 STIMOUCDSO 31392/062 =MAD U410.01 TI ANA4.1.Y CM 14.1) SAMMY Om Sure. Sondem 0o 1420-- tamer NOM OcoOm. Now York 11201.3140 FINANCIAL TRUST CO INC TAT 4T Ma00 sway 31.2004 111101014 rebut" 27.2004 ACCOUNT 'Man TATONON MANOR On Tile LAST STATIMMT lanai 30.2004 Gowen RATE IN OEM AMOUNT OM MOM 6.9000 210.215.02 02/25/04 FEDERAL NATIONAL MTG ASSN 31393C2C6 5.9000 90.564.38 SERIES 200349 CLASS SW DUE 012512033 5.900 INTEREST PAYMENT 02.25-04 TOTAL S-18.413.09 11,163,014.99 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear, Step mS8 CO. inc. UnUmever tma DAN DAM 1.4.14.141101 DISCRFSION 02/02/04 JOURNAL FEDERAL NATIONAL MTG ASSN 5112P MTG SERIES 322 CL PO 0.001 DUE 03/01/32 NW F0333206 Al REPO AGREEMENT 5YealeaCuSO 3136FALQ1 -1.901.906 1.477.000.00 alawniv ono man en MOST 02102/01 JOURNAL FEDERAL NATIONAL MTG ASSN STRIP MEG SERFS 322 a PO 0001 WE 03/01/32 FITM F0333206 A2 REPO AGREEMENT 02/12/04 JOURNAL FEDERAL NATIONAL MTG ASSN STRIP MTG SERIES 322 Ct. PO 0.001 DUE 03/01/32 NW F0333206 A3 REPO AGREEMENT 02/02/01 JOURNAL FEDERAL HOME LOAN MTG COPP 31393FAF3 20.255.032 SERFS 2530 CLASS SE 6.300 DUE 02/15/32 FTTM F2963142 A2 TWA REPO AGREEMENT 31360101 1.901.906 1,477,000.00 3136FALQ1 -1.001.906 1.477.000.00 037 02/2011:11732 001 Mm EFTA01321066 CLEARED THROUGH ITS M1QµY OWNW SUMMARY rn IS IJ IJ -J IJ -n C rn r 08805£00- O19- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Beet. Steens b Co. he. 383 Mattson Avenue v Y rk 10179 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) St11111400 MADE 08* OM MAMAC113.1 OlSOMIM 02/02/04 JOURNAL FEDERAL HOME LOAN MEG CORP SERES 2530 CLASS SE 6.300 DUE 02/1532 FTIIMRGN 12963144 A2 TERM REPO AGREEMENT 020204 JOURNAL FEDERAL HOME LOAN MTG CORP SEWS 2530 CUSS SE 6.300 DUE 02/15/32 FTDA 10333204 A1 TT REPO AGREEMENT 02/02/04 JOURNAL FEDERAL HOME LOAN MTG CORP SERFS 2530 CUSS SE 6.300 DUE 02/15/32 RIM 10333204 *38 REPO AGREEMENT 02/02/04 JOURNAL FEDERAL NOME LOAN MFG CORP SERIES 2530 CLASS SE 6.300 CUE 02115/32 FIRM E0313210 AT REPO AGREEMENT =02/04 JOURNAL FEDERAL HOVE LOAN MTG CORP SERIES 2530 CLASS SE 6 300 DUE 02/15/32 FRIA F0333210 A2 REPO AGREEMENT 02102/04 JOURNAL FEDERAL HOME LOAN MTG CORP SEWS 7.130 ClASS SE 6.300 DUE ozn 5f32 nun F0333204 ATA REPO AGREEMENT 0202/04 JOURNAL FEDERAL HOME LOAN MTG CORP SERFS 2530 CUSS SE 6.300 DUE 02/15132 !UM /0333204 A3A REPO AGREEMENT Sew SNOTS Swats Car0 ON. INOONO. Comer 1441, we Vert 117014839 FINANCIAL TRUST CO INC STATTNENT NEROC January 31. 2004 n•NOUN1 rebury 27. 2004 ACCOUNT TAMAR WINTER NUIAICA On SSA LAST STATCANNT )(Muggy 30,2004 $11.40311013, WSW! DOM ate Dem AMOUNT 31393FAF3 3.272.253 31393FAF3 -649.960 48.635.95 31393FAF3 -646.960 48,635.95 31393MF3 4.272.253 245,000.00 31393FAF3 3.272.253 245.0:0.00 31393FAF3 -19.606.071 1.469.364.04 31393013 -19.606.071 1,469,384.04 027 02.120904:112.2 CM 104 EFTA01321067 En IS IJ IJ —J 0 -n C in r THOSE00- 019- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUVr Seat Stearns 8 Co. Inc. 383 Madison Mance New 707 10179 12 a is Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) SITTIM(7O roux art GM! TROMMON Mummy, 02/02/04 JOURNAL FEDERAL HOME LOAN MTG CORP Sat 2530 CLASS SE 8300 DUE 02)15/32 Firm F0333204 0 Ripe AGREDAENT 02/02104 JOURNAL FEDL HOME LOAN MTG CORP•503602 SERIES 223 CLASS PO WE 12101/32 Fly F0333206 61 En AGREEMENT 02/0204 JOURNAL FEDL HOME LOAN MTG CORP#S03602 SERIES 223 CLASS PO DUE 12)01/32 Rim F0313206 B2 REPO AGREEMENT 02/02/04 JOURNAL FEDL HOME LOAN MTG CORPIPS03602 SERIES 223 MASS PO DUE 12/01/32 FILM F0333206 83 REPO AGREEMENT 02102)04 JOURNAL FEDERAL NATIONAL MTG ASSN SERIES 2003-49 CLASS SW 6900 DUE 01/25,33 EOM F0333212 Al REPO AGREEMENT 02.02/04 JOURNAL FEDERAL NATIONAL M ASSN SEMIS 2c03-49 CLASS m 5.900 DU CE 01/25/33 WM F0133212 A2 REPO AGREEMENT 02/02/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004.5 CUSS PS 5.810 DIE 02/20133 FEW F0333265 Al REPO AGREEMENT Snasoticusar OLWOM 0180 WUXI 31393FAF3 20.255.032 1.518.000.00 3128111/A80 -3.187.760 3128HVA85 3,187.760 2.336.000.00 3128HVA85 .3.187.760 31393=6 -18.419,876 313930206 18419,876 1.551.000.00 38374F087 -44,000.000 0.1./M0 NeDuCa/ ITS WOW, OWNED SIJOSCSA/W Net Wenn Soosbn CaR. C7e Vevccech Cever 11201.3159 FINANCIAL TRUST CO INC STATWENT SERIE° Imary 31.2904 Ts ROUGH February 21.2034 ACCOUNT MAIM TAXPAYER musics On File LAST STRIEMNT WSSICE 30. 2004 CRWIT MOW 2.338.000.00 2.338.000.00 1.551.000.00 6.336.000.00 027 0300/001:0 001 3120 EFTA01321068 CLEAN] Mb:Wm ITS 11040µY am= SuBSOIMV C) -n C in r Z8805£00- O19- ANGS 8 IJ IJ .9- BEAR STERNS OFFICE SERVICING YOUR ACCOUNT Beer. Steams 8 Co. Inc. 383 Madison Avenue 10179 13 e ts Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (COn181000) srmostxt 11140( DAR DATE 1110045.1410. OCSCRIPTC14 5/01101/ Cite 02/02/04 JOURNAL ADP CD 8888888 FITM-PR F2753181019 8.625 CUE 12131/49 2074420692 0119111112 We. ken Socultes CRP 691 Meint•ch tem Novi Mn yen 11201.3859 FINANCIAL TRUST CO INC STATIMINT PERKO Jamey 11.2004 moots' Fetni 27.2008 ACCOUNT MAW TAXPAYER MAN Oil RN mrt austmort January 30,2034 OEM MOJNI alert mown 02/D2104 2.075.000.00 INTEREST ADP CO 8888888 353.90 WE 1213112049 8.625 11114-PR 12753161010 2074420692 02//0104 JOUR/JAL GOVERNMENT NATIONAL MTG ASSN 38374R:1.44 -44.389.962 193.000.00 Welt 2004-2 CLASS SS 6.080 DUE 0016134 FDA F0353186 Al REPO AGREEMENT 02/06104 JOURNAL FEDERAL NATIONAL MTG ASSN 3136FAU31 .1.850.620 1.424.000.00 STRIP MTG SERIES 322 Cl. PO 0,001 DUE 0101/32 TIM 10373120 Al REPO AGREEMENT 02/08/04 JOURNAL FEDERAL NATIONAL FRG ASSN STRIP MTG SERIES 322 CL PO 0.001 CUE 03/01132 FILM /0333206 Al TERM REPO AGREEMENT 3136FAL01 1.850.620 1,477,000.W 02/06/04 JOURNAL FEDERAL HOME LOAN MFG CORP 31393FAF3 648.960 48.635.96 SERIES 2530 CLASS SE 6.300 DUE 02/15/32 FITM 10333204 .428 TERM REDO AGREEMENT 02/06104 JOURNAL FEDERAL NOME LOAN MTG CORP 31393FAF3 1%606.071 1.46%364.04 SERFS 2530 CLASS SE 6.300 DUE 02/15/32 FlT/A 10333204 AlA TERM REPO ACRE/INERT 02/06/04 JOURNAL FEN. HOME LOAN MTG CORPMS03602 3128HVA85 -3.139.394 2.277.000.00 SERIES 223 CLASS PO DUE 1101/32 FILM F0373120 81 REPO AGREEMENT 027 02/3809m32 cm ven EFTA01321069 0 m C m H r £8805£00-O19-ANGS I8 b.) IJ to -J BUR STBIRNS orncE SEAMING YOUR ACCOUNT Rear, Stearns & Co. Inc. 383 Vadson AVM.. 14 Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) St111.0/00 1MOE DAZE DATE 11/AIISACD0/1 DIESCRIP11CN 591480titat90 GUMMY OMIT MOUNT CREW /MOUNT 02/06/04 MOW FEDL HOME LOAN MTG CORP/403602 3128HVABS 3,139,394 2.336.00000 SERIES 223 CUSS PO DUE 12/01/32 RIM F0333206 82 TERM REPO AGREEMENT 02/06/04 JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FCM4 44.389.962 193.000.00 SERIES 2004-2 CUSS SB 6.080 DUE 01116/34 FEW F0353186 Al TERM REPO AGREEMENT 02106434 JOURNAL GOVERNMENT NATIONAL MTG ASSN SERIES 2004-2 CUSS SB 38374FCM4 .44.389.962 1.952.000.00 6.060 DUE01116/34 MIA F0373123 Al REPO AGREEMENT 02/06/04 JOURNAL GOVERNMENT NATIONAL WC ASSN 39374FDB7 -44,000.000 6.200.000.00 SERIES 2004-S CUSS PS 5.810 DUE 02/20133 RIM F0373123 Bt REPO AGREEMENT 0206/04 JOURNAL GOVERNMENT NATIONAL MTO ASSN 38374F007 14,000,000 6.336.030.03 SERIES 2004-5 CLASS PS 5.810 DUE 02/20133 FTDA F0333266 AZ TERM REPO AGREEMENT 02/06/04 INTEREST FEDERAL NATIONAL WC ASSN 3136FAL01 213.34 STRP TAG SERIES 322 CL PO OM 03/01)2032 0.001 mki F0333206 AZ REPO MEREST 0206604 INTEREST FEDERAL HOME LOAN 1410 CORP 31393FAF3 7.03 SERIFS 2530 CLASS SE CUE 02/15/2032 6.300 RIM F0333204 A2B REPO INTEREST [WACO TRROVOM ITS VIRCRLY OWNED SLASADARY Ow. Surd Sec/0n Cap. Car Merman Cow Wm ab jes' t 11201.3859 FINANCIAL TRUST CO INC STATEMINT FIRICO January 31.2004 TARCUOR TtErlar/ 27.2004 ACCaNT mate TAXPAYER MAW On Fie MT STATtabrt luxury 30. 2004 027 02121164:11,2 001 1628 EFTA01321070 CLEARED OIRCUSH OS vrinose WILD SLOS/CaRY BEAR STEARNS OFFICE SERMCING YOUR ACCOUNT Beer. Stearns & Co. Inc. 383 Ma6son Avant* New Yoh, New Yak 10179 15 one Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) 0 m SETROJOI7 TRADE DADS 0203/04 07/06104 02/06104 C in 02/06704 r 02/11/04 02/11/04 02/11/04 V8805£00- IN9- ANGS TPJASACTON CESCCOMOn INTEREST FEDERAL HOME LOAN MTG CORP SERIES 2530 CLASS SE CUE 02/15/2032 6.300 FIlM F0333204 ASA REPO MEREST INTEREST FEDL HOME LOAN MTGCORPOS03602 kFoIFS 223 CLASS PO CUE 12/01/2032 0.000 Him F0 TERE S 333T 206 82 REPO M INTEREST GOVERNMENT NATIONAL MEG ASSN SERIES 2004-2 CLASS S8 DUE 01/16/2034 6.080 FTIM F0353186 AZ REPO INTEREST INTEREST GOVERNMENT NATIONAL MTG ASSN SIRES 2004.5 CLASS PS DUE 02/202033 5.810 FITM 10333266 AZ REPO INTEREST JOURNAL FEDERAL NATIONAL MTG ASSN STR 0.001 E IP DU PATO SE 03/0RVS1 322 CL PO /32 MIA F0373120 A2 TERM REPO AGREEMENT JOURNAL FEDERAL NATIONAL mTG ASSN STRIP LOG SERIES 322 CL PO 0.001 DUE 03/01/32 FITM F0373120 A3 TERM REPO AGREEMENT JOURNAL GOVERNMENT NATIONAL MEG ASSN SERIES 2C04-2 CLASS 68 LOBO DUE 01118134 FTIM F0373123 A2 TERM REPO AGREEMENT Bey. Start SeosOes Cain 011.10=0 Carew WI, Omar. Ma 'tort 11201.3859 FINANCIAL TRUST CO INC STAITWUT PER500 lan,Ory 31. 2004 4•01.13.1 retcutcy 27.2004 ACCOora run...ER TµPArER NAIRER LAST STATENee On Fie Lanny 30.2004 SOMOUCutir OLIANTAY OOIf /4•20NT MECO WOW 31393FAF3 212.24 3128HVAB5 337.42 38374FCM4 13.94 38374FDB7 915.20 3136FA1.01 1.850.620 1.424.00000 3136FAU21 -1.850.820 1,424,000.00 38374FCM4 44,389.982 1.952.000.00 017 OIL0004.1111 041 ma EFTA01321071 rn IS b.) Ia La --J -Al BEAR STEARNS OFFICE SERVICNGICUR ACCOLAIT Bear. Steams & Co. Inc. 383 Madison Avenue New Y N Yrrk 10179 16 a •ip Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) SITTLDADIT OAK Lint 02n 1/04 0 02C11704 -n 02/11/04 C rn 02/11/04 r 02/27/04 02127/04 0227/04 SHOSEOCIN9- ANGS 111171SALMON OtS011•10. SYMECILIbill• 01111111Y JOURNAL GOVERNMENT NATIONAL MTG ASSN 38374FCM4 -44.399,982 URNS 2004-2 CLASS SG 6.080 DUE 01/1634 RDA F0423194 Al REPO AGREEMENT INTEREST FEDERAL NATIONAL MTG ASSN 3138FALCI1 µ 257.11 STRIP MIS MRCS 322 CI. PO CUE 03/01/2032 0.001 Firm F0373120 A2 REPO INTEREST OW SOW CLEARED TAROuts. as ?MOLLY PALED SUSSILLARY Bea. Sten. Swan Cas. Cse Idevollet Unto I . /1scatin. New 11st 112014120 FINANCIAL TRUST CO INC STATESENT KS= MSS; 31.2004 2111101/0.1 Fabowy 27. 2004 ACCCon MAW TPA:PAM POISES On Flo LAST STATOAP1T J.. 30.200E CAW MOM 2.000.000.00 iNTEREST FEDERAL NATIONAL MTG !SSA 3136FAL011 257.11 STRIP MTG SERIES 322 CL PO DUE 0101/2032 0.001 FM4 F0373120 A3 REPO INTEREST INTEREST GOVERNMENT NATIONAL MTG ASSN 383700.44 352.44 SEPSES 2004.2 CLASS 58 DUE 01/162034 8.080 HIM F0373123 A2 REPO MEREST ./OUFSNAL FEDERAL NATIONAL MTG ASSN 3136FALOI 1.850,620 1.424.000.00 STRP MTG SERIES 322 CL PO 0 CO1 DUE 03/01/32 FRU F0373120 Al TERM REPO AGREEMENT JOURNAL FEDERAL NATIONAL MFG ASSN 3136FALoi 4.551,860 4.382,000.W STRP MTG SERIES 322 CL PO 0.001 DUE 03/01/32 REM F0583100 81 REPO AGREEMENT JOURNAL FEDERAL NATIONAL MTG ASSN 3136FAL01 5.551,860 4.362.000.00 STRP MEG SERIES 322 CL PO 0.001 OUE03/01/32 Rai F0583100 82 REPO AGREEMENT 027 0:1121104:1182 001 VMS EFTA01321072 0 0 C in r 98805£00-019-ANGS BEAR STEARNS OFFICE SERVCP4G YOUR ACCOUNT Bear. Steams & Co. Inc. 363 Machson Avenue New York. New York 10179 17 is le Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (tattooed) !Emmen 1RWC DAM 0A1E MANSICTION OESOSPTION SAIKNJOAIP QUANTITY 02/27.134 JOURNAL FEDERAL NMICNAL MEG ASSN 3136FAL(11 -5.551.860 S7RP DUE SERIES 322 CL PO 0.001 DUE D3101/32 MIA F0583100 B3 REPO AGREEMENT OOR /MINT MUSED IMPOufai rrS %bar( o.we 0.0Simay Dw. Sian Swabs Cep. ltatreerch sin . ries Yen I I201.3130 FINANCIAL TRUST CO INC STATEmert .e1000 January It X04 114110VOM February 21.2004 COMM MANES TAxPAYElt eiusraVi PIM LAST STATI,ST laruhri 30.2004 GAM Meal 4.382.000.00 02/27/04 JOURNAL FEDI. HOME LOAN MTG CORPAIS03602 312MTVABS .1,610,509 1.205.000.00 SUMS 223 CUSS P0 DUE 12/01/32 FILM FOS831C0 Al REPO AGREEMENT 02/27/04 JOURNAL FEDI. NOME LOAN MFG CORPIPS03602 3128HVA85 1.610.509 1,205,000.00 SERFS 223 CLASS PO DUE 12/01/32 EWA /0683100 A2 REPO AGREEMENT 02/27/04 JOURNAL FEDL HOME LOAN IMO CORPWS03602 3128HVABS -2.112.812 1.580.000.00 SERIFS 223 CUSS PO DUE 12/01/32 FiTM F0583100 A3 REPO AGREDAENT 02/27104 JOURNAL FEDL HOME LOAN MTG CORP•S03802 3128NVA85 3.139.394 2.277.000.00 SERIES 223 CUSS P0 WE 12101/32 RDA F0373120 82 TERM REPO AGREEMENT 02/27/04 INTEREST FEDERAL NATIONAL WIG ASSN 3138F/L01 1,079.87 SIRP LOG SERIES 322 CL PO OUE 03/01/2032 0.001 1111.4 F0373120 A4 REPO NTEREST 02/27/04 INTEREST FEDI. HOME LOAN MfG CORP4S031302 3128HVARS 1.728.73 SERFS 223 CLASS PO DUE 12/0112032 0.000 EOM F0373120 B2 REPO INTEREST TOTAL 5-31 636 115.32 547 857 610 99 ez,224. .11 32 CC1 NUB EFTA01321073 BEAR STMRNS OfFICE SERVICING YOUR ACCOUNT Beer. Steams & Co. Inc. 383 Mattson Avenue New York New York 10179 18 cr Transaction Detail (continued) MISCELLANEOUS w1 E TRONS4411011 CESCONTOPI Ot$14...umeir CREW AMOUNT MOMAT 02/05/04 JOURNAL RTG FITM 12.615.00 0 02/09/04 JOURNAL FITM FRO 54.687.00 0 02/12/04 JOURNAL JAN.04 SPEC CLEARING FEES 450.00 TOTAL 5-55.137.00 512.61540 r l C in z J r L8805£00- O19- ANGS IJ IJ J Your messages ER? Excess SIPC Account Protection Update Effective Fel:fluky 16. 2004. the commercial insurer through MINN Bear, Stearns Securities Corp. obtains excess SIPC protection changed to Customer Asset Protection Company MAPCO"), a New York licensed insuance company. CAPCO has an A+ financial strength rating from Standard & Pools. End of Statement 027 02i2304;11,32 001 cwato TWO: Wm 73 Wrraay OvniE0 SueSOMY Oar. Steen Secant Cap. Ore I/Oman CoMa Nara Paw not 11201-1139 FINANCIAL TRUST CO INC STATIPAPer PEFo00 lanury 31. 2004 THRCOPim Petra:ay 27. 2004 PAPC4V47 xvieep toaate4 %veep On Re it47 ITTATPWErr liras" 30.2004 EFTA01321074 bl_o TNIOUGn wa0U. OvaaD SuSSOLVEY rn 8 IJ IJ so 00 O -n z C in z r 88805£00- 019- ANGS BEAR STEARNS OFFICE SERVICING 'CUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Menus Now York, New Yea 10179 ACCCUNT EXECUTIVE GNMA GOVT BONO viSrr OUR Mesa w.m.bearstearns.com What's In This Statement I I al all a lull Financial Summary 3 FINANCIAL TRUST CO INC Your Portfolio Holdings 4 C/0 JEFFREY EPSTEIN Transaction Detail 7 6100 RED HOOK QUARTER Your Messages 13 STE B3 ST THOMAS VI 00802 Your Portfolio at a Glance Market Value of Your Portfolio TOTAL VALUE Of SECURITIES THU PERIOD 32,720.098 LONG ACCRUED MEREST 615.271 NET DEBIT BALANCE -13,933.518 NET mum nes PEIDOO 619.401,851 NET MUDS UST STAID/Eta 19.197.920 (MANGE SINCE LAST STATEMENT 203.931 There are no 'Stop Lose orders or other pending buy or sell open orders on file for your account. Cash a Equident Had kiOara 343.931.618 $380.860 518.601.283 532.720.098 Current Nadu value Last statement's market value Stun market vat* 3fears Spann Cap. One user Cn Math BMW" Nes an 11201.3115. FINANCIAL TRUST CO INC STAID/ENT PERKO loran 1. 2004 THROUCni January 30.2004 ACCaarr asaNER TAxP&YER MAIM On Fee LAST anal:Kw 0•Camble 31.2003 t , as sunray is la rfrapnat pawns ovy mesa rt enseS n a In eccannt dental W0.10 PP reached lot ya.r ncoeiv see rant We $7, la:O1Pa .rf0rralan 027 obit W.0O2o DOI vki24 EFTA01321075 CLLan.0 nelOvG14 WEED ~WAY 8... Summit Secuiret 000 SNOUT crw MOM Si n •ree 11201.1859 EINANCAL TRUST CO INC 2 0• C) z -n C in z -H r 68805£00 W9 IS IJ IJ STATEMENT BACKER IS PRINTED ON THIS PAGE 027 01.01.000020 011 ‘1120 EFTA01321076 rn 8 IJ IJ so IJ 00 BEAR STEARNS OFFICE sERviaVG YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York. Now York 10179 3 a.3 Cash Flow Analysis TIC 10100 Income Summary THIS KRCO YIAR TO AT( Opening Ba lance Securities Sold Dlyidendsnriterest Miscellaneous 5380.859.92 9.844.310.88 720989.06 219,564.00 Gait Agency Int. Corp. Bend Int. Reverse Repurchase Int. Total 508834.06 212.155.00 1,418.88 5722.407.94 508.834.06 212.155.00 1.418.88 5722.407.94 0 Amount Credited $10.784.863.94 Bond Purchase kit. .17896871 -175.968.71 -n Securities Bought Furels WOO-am -24.567.419.97 42,716.00 Portfolio Composition Dividenisenterest Charged -178968.71 C in Miscellaneous Amount Debited -293.137.00 5-25.099.241.68 Cash/Cash Eqtralent Fixed Income snom 13,933.518 32.720,098 Not Cash Perkily -14,314,377.74 Total 513.933.518 532.720.098 Closing Balance 5-13,933.517.82 r 06805£00- O19- ANGS Cash Balance Summary °KIANG CLOSING Margin 380,859.92 -13,933,517.82 Net Cash Balance $380.859.92 5.13,933,517.82 fLisee0 TIROUGH ITS vatStLY 0.sert0 WSW :oar ate. Sita Swam Cap Ore WeenNtal Ono tent away, Ma et 20 NIS FINANCIAL TRUST CO INC &TAMAN? Sts500 1 nuary 1.2004 wiecuon Jimmy 30. 2004 Accotag wain TwAvER weed On Fie LAst 3/Aina DOC0rnber 31. 2003 Short Cash a Ego/talent 29% Your Portfolio Allocation Filed Income 71% Ifien.O34 :otos. dew* 41I noira wen, no. noels ninon it* alooKa term} n Owned Yon ••• sboata ma.( a. a yo.• Xnbna 027 01110100 20 C01 N1124 EFTA01321077 CLWE0 TnR0u0n !Ts Mgr" OwNE0 SuSSOARY En IS IJ JO IJ m C in r T6805£00-O19-ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New YOrk. New Yak 10179 4 or la Your Portfolio Holdings CASH & CASH EQUIVALENTS Of StlePTIted CASH BALANCE TOTAL CASH & CASH EQUIVALENTS 5-13.933.51B SvvOOLCJSP IMRKET 131116010 CURROR 0-Ahlrff MCI VICUI Moira DiCONE YIELD (P.) .13.933.518 FIXED INCOME Government & Agency Obligations Caaa0104 VI...MUCUS() ICU NE oLviony PM(( MANZI YHA Cum MEC [SWARD MIWAL WOVE 0. MY MOS CAI FEDERAL HOME LOAN MEG CORP 31393FG86 FARCE 10.092.097 10.5957 1.089.327 24.811 595.434 55.8831 SERIES 2526 CLASS SI DATED DATE 10/01/02 BOOK ENTRY OVLY DUE 02/15/2032 5%00% FACTOR • .39212142 FEDERAL NATIONAL MTG ASSN 3136FAL01 SARGN 1.901,906 85.5000 1.628.130 2 19 0.0012 STRIP MTG SERFS 322 CL PO DATED DATE 03.0102 BOOK ENTRY ONLY DUE 0301/2032 .001% FACTOR • 1.00000000 FEDERAL HOME LOAN AUG CORP 3139286110 MRGN 36544.219 3.6201 1.288.725 14,810 355,442 27.6238 SERES 2471 CLASS DATED DATE 06.07/02 BOOK ENTRY ONLY DUE 03/112032 1.000% FACTOR - .35544220 FEDERAL NOME LOAN MTG CORP 313921/32 MRGN 17.890875 11.3612 2.032.628 51.435 1.234.470 60.7328 SERIES 2488 CLASS SO DATED DATE 0303/02 BOOK ENTRY ONLY FACTDUE 0O 3/15/2032 6.9 .35781753 00% R • 0/0 01431/04.0•20 COI teat. Men Seeman Cap 0,e uet Carat Wen Na Yot 11201-3.59 FINANCIAL TRUST CO INC STArniewr PEAS00 /wary 1.2004 retoLerm lorry 30, 2004 Acc0A1 kumafR TA>a•AYEA KAISER On rue UST aFATruorr Decanter 31.2003 EFTA01321078 rn IS ba Ia La 0 -n C in r Z680SEOCIND- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison MCMIJO New TM. New York 10179 5 a.1 Your Portfolio Holdings (Continued) Government & Agency Obligations (continued) DESCRIF03311 511.00/0.6. ACC, rot MCC tea Mut rOIRI.31 ACCauE0 [SWA /ANAL WOMVE W10 CLO200 IL FEDERAL NOME LOAN MTG CORP 31392T6E2 MRGN 20.640.679 10.7112 2210,868 50.740 1.217.800 55.0824 SERIES 2483 CL SL DATED DATE 07102/02 BOOK ENTRY ONLY DUE 5.900% FACTOR -5/2.35781752 FEDL HOME LOAN MTG CORPOS03802 3126HVABS MRGN 3.187.760 80.2031 2.556.683 SERIES 223 CUSS PO DATED DATE 12/01/02 BCCe ENTRY ONLY OE 12 /01/2032 FACTOR . .63755215 FEDERAL NATIONAL MTG ASSN 31393C2C6 MRGN 18,419,875 11.4264 2.104.727 15.092 1.086,773 51.6349 SERFS 200349 CUSS SW DATED DATE 04/30/03 9008 ENTRY ONLY DUE 01/25120.33 9.5 964% FACTOR - .75780681 GOVERNMENT NATIONAL MTG ASSN 383742087 MRGN 44,000.000 18.0000 7.920,000 205,933 2.556.40D 32.2778 SERFS 2004.5 CLASS PS INTEREST FROM DA1t 01/20/04 DATED DATE 01/23/04 FIRST COUPON 02/20/2004 BOOK ENTRY ONLY DUE 02/201033 5.810% FACTOR . 1,00000000 GOVERNMENT NATIONAL MTG ASSN 383742044 IMIGN 44,389,962 14.5833 6,473,526 217,413 2.698.910 41.6915 SIRES 20042 CLASS 58 INTEREST FROM DATE 01/16/01 DATED DATE 01/23/04 FIRST COuPON 0216/2004 BOOK ENTRY ONLY DUE 01/16/2034 6.080% FACTOR - 1.00700030 Total Govemmem& Agency Obligations 527.280.612 8580.236 59.745.248 CLWIO DiftCtrag v.i.CtLY bielaD Su•SOKRY Bet Sawn Starnes Cap. Ono hieptich Oren NOM 0,301.1,n New nik 11201.3•30 FINANCIAL TRUST CO INC STATEIST Ppm, emery 1.7004 MA0u04 laruary 30.2004 ACCOUNT *MIMI 7.03,AKR nvkinct On Fie LaST STATE3400 Decerntr./ 31.2003 027 010, 04 0123 001 3124 EFTA01321079 CtEARED THRGJOH 118 0.' ED ELESCcAny BEAR STMRNS OFFICE SEFNICING YOUR Annnieg Beer. Reams 8. Co. Inc. 383 Madison Arent New Y Now Yak 10179 6 0-3 Your Portfolio Holdings (continued) Corporate Bonds 0 -n 0ESCEPTDrc Sna30..V.S0 ACC1 Ml MARTEN. " Ki w." ." saw( ACCRUED IRREIST CSMIATED P.n.'s& INCOME CURRENT reo FANNIE MAE CMO/SERIES 2003.13 31392J0K2 RCR4I0 FLTR DATED DATE 02125.'03 BOOK ENTRY ONLY CUE 03/25/2033 8.900% FACTOR - .73118269 TotalCOrporate:orOs IARGN 36.559.134 14.8786 5.439.486 55.439.486 35.035 535.035 2.522.580 52.522.580 46.3753 TOTAL FIXEDINCOME 532.720.098 5615.271 512,267.828 C in YOUR PORTFOLIOHOLDINGSACCRUEO INTEREST 5815.271 YOUR PORTFOLIOHOI.DINGSESTIMATED ANNUAL INCOME 512,267.828 YOUR PRICEOPORTFOLIOHOLDINGS 518.788.580 leo. Steams Swats Co,. 0-4 litmegetri Ct'w Wa ass.. 20 -3.59 FINANCIAL TRUST CO INC STATD.3,47 PEF0C0 UMW, 1 2004 net.:03.4 init." 30.2004 ACC0.Pil 'HAGER TAXPAYER PAAERCH OA Me lAST VATEREMI December 31.2003 r £6805£00 W9 8 IJ V.2 00 Repurchase and Reverse Repurchase Transactions with Bear,Steamsand Co.inc. outstanding as of date of statement PLIECHASEI REPURCHASE pescriC PURCHASE Mai ACCRUED 91PO OUANDIY SIAM DATE DATE WE FAIMCP/A. velour oAct MOW) CUS1P oucornew YOU PROVIDED FEDERAL HOME LOAN MTG CORP (MARGIN) 10/23/03 OPEN 0.000 TOTAL REVERSE REPURCHASE TRANSACTIONS TOTAL REPURCHASE TRANSACTIONS As d sisiermst bet -51,655.000 31393FAF3 SERIES 2530 CLASS SE 6.3000 02/15132 s0 s0 SO s0 022 0',11.04A19 ?0 00, %1324 EFTA01321080 En I8 b.) IJ LP. 00 0 -n C in r V6805£00- O19- ANGS BEAR STEARNS OFFICE SERVICING W)UR ACCOUNT Beer. Stearns & Co. Inc. 383 Madison Avenue New Yea. New Yak 10179 7 a s Transaction Detail INVESTMENT ACTIVITY CLVACO T.41011314 rte MAXI, Ont.C.0 SLISSWAY Bear. Steam Se0.0021 Cap. DI PAntehxn Orme Nati W i lee Yet 11201.3851 FINANCIAL TRUST CO INC SUMMIT PERKO lanai 1.2004 nilmuccri unary 30.2004 0.0201A4T NUMBER TAPPM10% MAW On Me MST rrArcutur December 31.2003 9117LES4P7 MCC OAR TIONSACTIOP CCSCIIPTCN 20.610U0.04P 01.0,011Y Dui float CREDO AVOW 01/08/04 PRINCIPAL FEDERAL NATIONAL MFG ASSN 3136FALQ1 -69,335 STRIP MG SERIES 322 CL PO 0.001 DUE 03/01/32 PRINCIPAL REDUC1N 01-25-04 01/DEVO4 PRINCIPAL FEDL HOME LOAN MTG CORP/503602 3128HVABS -61.567 SERIES 223 CUSS PO DUE 12/01/32 PRINCIPAL REDUCIN 01.1504 01/15404 PRINCIPAL FEDERAL HOME LOAN MEG CORP 31392R6U0 .1,222.000 SERIES 2471 CUSS YT 1.003 DUE 03/15/32 PRINCIPAL REDUCTN 01-15-04 01115/04 PRINCIPAL FEDERAL HOME LOAN WO CORP 3139286110 -23 71 SE 2 C VT IES 1.0R03 DUE 03/1S/ LASS 32 PRINCIPAL REDUC1N 01.1644 01115/04 PRINCIPAL FEDERAL HOME LOAN WC CORP 31392T6E2 -708.634 SERIES 2483 CL SL 5.837 DUE 03./15132 PRINCIPAL REDUCTN01-15-04 01/15/04 PRINCIPAL FEDERAL HOME LOAN MTG CORP 313921/32 -615.096 SERIES 2486 CLASS SQ 6.837 DUE 03/15/32 PRINCIPAL REDUCIN 01.1544 01/15/04 PRINCIPAL FEDERAL HOME LOAN MEG CORP 31393F686 -364,849 SERIES 2526 CLASS SI 5.837 DUE 02115/32 PRINCIPAL REDUC1N 01.15-04 01/15104 PRINCIPAL FEDL HOME LOAN MTG CORP8S03602 3128HVASS 61.556.80 SERIES 223 CLASS PO WE 12/01/32 PRINCIPAL PAYMENT 01-15-04 01/26/04 PRINCIPAL FEDERAL NATIONAL TAG ASSN 3136FALQ1 69,335.20 STRIP MEG SERFS 322 C1. PO 0,001 DUE 03/01/32 PRITCPAL PAYMENT 01.25-04 027 eintleketie 001 vets EFTA01321081 m I8 IJ h.) to 00 --3 0 0 E I C in r 56805£00 W9 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Melia New Y New York 10179 8 a •1 Transaction Detail (continued) INVESTMENT ACTIVITY (corciruee) 0.LARCIS nwoucm rR VemOuy CNN= SUMEICANNY Sem. Merl ScONINA Co AINANANA Omer NOT E. Wm US 11301.3459 FINANCIAL TRUST CO INC stAntaw pro= burr 1.2004 imitOuGH MOAN" 30.2004 Arewmr LAMER TAXPAYER maostn On rile µ5T STATEMENT Detente 31. 2003 stionert Ma DAM OAA INAIISACACM DESCRPTOM Visatuon• OUMGTTY KMI OW n.wic CSICIS WWII 01/26/04 PRINCIPAL FANNIE MAE CMO/SERIES 2003-13 3139210K2 -559,291 5 RCR-VO FUR 6.858 OLE 03/25/33 PRIVatAL REOUCTN 01.2544 01/26/04 PRINCIPAL FEDERAL NATIONAL MTG ASSN 31393C2C6 .281.792 SERIES 2003.49 CUSS SW 5.858 OLE 01/25113 PRP4CAPAL REDUCTS 01-25-04 01/30/04 01/16/04 BOUGHT GOVERNMENT NATIONAL MTG ASSN 38374FCM4 44,389.962 13.25000 5.881.669.97 SERIES 2004 2 CUSS SB ACCR. INT. 104.95739 OIN 01116/2034 06.080% 0987021011332 REF • 2034011646030000 SS AS OF 01/16/04 01/30/04 01/08/04 BOUGHT GOVERNMENT NATIONAL MTG ASSN 38374F067 22.000.000 17.81250 3.918.750.00 SERIES 2004-5 CUSS PS ACCR. M. 35.505.56 OuE 02/20/2033 05.810% 0987022118332 REF • 21704010846380800 8S AS OF 01008/04 ACCRUES ON 1ST. PAYS OM 20TH 01/30/04 0123/04 BOUGHT GOVERNMENT NATIONAL MFG ASSN 38374F067 22,030.000 18.00000 3,960403.03 SERIES 2004.5 CLASS PS ACCR. M. 35,505.56 DUE 07/20/2033 05.810% 0987022118332 REF • 2004012346390000 85 AS OF 01/23/04 ACCRUES ON 1ST. PAYS ON 20TH TOTAL $-13036.388.68 5130092.03 027 01'31840920 341 13)24 EFTA01321082 En IS b.) La 00 C)0 -n C in r 96805£00-019-ANGS BEAR SIMMS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Ire. 383 Madison Awmue New York. New Yak 10179 9wo Transaction Detail (continued) DEPOSITS AND WITHDRAWALS CLEO= , NOLGN RS voica WACO assay ear Berm StorlueS Cup. Ow MoraccP.c Mer0 11201.38C9 FINANCIAL TRUST CO INC STATEMENT PER500 Amoy 1.2004 Iletouco. meaty 30.2004 ACCOLNT 4umszy TAxPANIR mimes On Fle LAST STATZMINT Wen*. 31.7007 DATE MM4SACTION DISCRPTION 00Ir AMUR CROZ MOM 01102/04 END WIRED MDAOGV119949ENDS %WED TO FLEET NAMNAL BANK AC2387604020 C•171961 62.716.00 TOTAL 1-62,716.00 INTEREST Ont ocancil STRISKRISP OCAMMY RATE (Y) OM SWUM CREPT ale 01/15/04 FEDERAL NOME LOAN MIS CORP 31392R6U0 1.0000 30.638.54 SERIES 2471 CLASS YT DUE 03/15/2032 1.000 INTEREST PAYMENT 01-15-04 01/15/04 FEDERAL HOME LOAN MTGCORP 3139218.E2 5.8370 103.860.38 SERIES 2483 CL St 03/1 5/2032 5.837 INTEREST PAYMENT 01.15-04 011564 FEDERAL HOME LOAN MI6 CORP 313927/32 6.8370 105.445.48 SERIES 24888 CUSS SO DUE 03/1512032 6.837 INTEREST PAYMENT 01-15-04 01/15/04 FEDERAL NOME LOAN MI6 CORP 31393//1/3 6.2370 17,623 80 SERIES 2530 CLASS SE DUE OV15/2032 6.237 INT P.45 12-03 P/001 -15-04 REPO P IS I 6.2375 01/15/04 FEDERAL HOME LOAN IATGCORP 31393//1/3 6.2370 109.09019 SERIES 2530 CLASS SE DUE 02/15/2032 6.237 INT IVO 12-03 P/001.1544 REPO P & I 6.2375 01/15/04 FEDERAL HOME LOAN MTG CORP 31393FG86 5.8370 50.868.68 SERIES 2526 CLASS SI INTO 021 5/2032 5.837 MEREST PADADIT 01-15-04 02T 01elaE#w ODT vim EFTA01321083 Cl.fARED 11.110.0. ITS W10.1 04103 SUMMARY rn I8 b.) La C) 0 m z r L6805£OO-O19-ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams 6 Co. Inc. 383 Madison Avenue 10179 10 Transaction Detail (continued) INTEREST (continue/0 Sim SLIM &ONE. C.07. Ole 1.1•Inach Cote /loth BrO1t3i1. 110. York 1120148SP FINANCIAL TRUST CO INC STWISIDET MOOD Err 1.2004 nitOuaw Angry 3D. 2004 .102µM ISAM•11 MIMS MAIGER On Die UST STAlt1ODIT DOCArntet 31.2003 DATE OESCAVTITAI SYTAIOVONDP QUANTITY RATE MO OM IWACUM cam NAM 01/26/04 FANNIE MAE CM/3/SERIES 2003-13 313921062 6.6580 212.155.00 s RER1/0 FUR DUE 03/2512033 6.858 INTEREST PAYMENT 01.2544 01/26/04 FEDERAL NATIONAL MEG ASSN 313932226 5.8580 91.308.99 SERFS =03-49 CLASS SW DUE 01/25/2033 5.858 MEREST PAYMENT 01.25.04 TOTAL $720,989.06 REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS with Bear,Steams& Co.Inc. sentoson nwx DATE TRATISACITON Dela:raw SDADOLATUSIP country DEW &TOME DOOR NAOMI 01/02/04 JOURNAL ADP CD FITM-PR F225318101I 8.625 DUE 12/31/49 2074420692 8888888 980.000.00 01/02104 JOURNAL ADP CD 8888888 980.000.03 FIDA.PR F275318101g 8.625 DUE 12131/49 2471420692 01/02.104 JOURNAL ADD CD FTDA-PR F2753181019 8.625 DUE 12/31/49 2074420692 8888888 980.000.00 01/02/04 JOURNAL ADP CD 8888888 1,297.CC0.00 Fins% F2753181011 8.625 DUE 12/31/49 207/420692 01/02/04 INTEREST ADP CD DUE 12/31/2049 6.625 Fume* F2753181011 2071420692 8888888 384.85 027 OVAI/Olart20 2/l YW EFTA01321084 Fn IJ IJ 0 -n C rn r 86805£00-019-ANGS BEAR STEARNS OFFICE SERVICLUG YOUR ACCOUNT Bear. Steams 6 Co. Inc. 383 MediSco AVON* New Yea. New Yak 10179 Transaction Detail (continued) CLFJI/L0 1141000•4 tr3 114.1:1s °web Suesoace Bar. Swarm Sonnet Cap. One Meow. Oats Ham r 11201-3459 FINANCIAL TRUST CO INC SIATIONNT PP= Thrum,' t. 2004 THROWN larwri 30. 2004 ACCOLNY m.weep TAIOAVtlt NUMMI Oft Flip REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (ccounued) LAST STATeliewr Often*. 31.2003 SETTIDIENI 011E OME otooacnou ctSCAPTIN STIAMUOJIO ONION a MOM Ca /YOUNT 01/1604 JOURNAL ADP CO 8888888 1.297.000.00 FITIAAR F275316101) 8.625 DUE 12/31/49 2074428692 01/16104 JOURNAL ADP CO 8888888 1,207,000.00 FRILPR F275318101k 8.625 DUE 1201/49 2074420692 01(16104 JOURNAL ADP CD 8888888 1.297.003.00 FITMPR F2753181011 8.625 DUE 1201149 2074420692 01/18/04 JOURNAL ADP CD 8888888 1.640.000.00 FDM.PR F275318101m 9.625 OM 12/31/49 2074420692 01/16/04 INTEREST ADP CD 8888888 501.15 DUE 1201/2049 8625 F1DA.PR F275318101) 2074420892 01/21/04 JOURNAL ADP CD 8888888 1.659.00000 FIIM.PR F2753181010 8.625 DUE 12/31/49 2074420692 0021/04 JOURNAL ADP CD 8898888 1.840.000.00 FITIAAR F2753161018 8.625 DUE 12/31/49 2074420692 01/21834 INTEREST ADP CD 8688888 256.58 DUE 12/3112049 8,625 F1114-PR F275318101/1 2074420692 01/27/04 JOURNAL ADP CD 8888888 1.659800.03 FIDA.Plt F2753181018 8.625 DUE 12131/49 2074420692 027 0141440k20 an 1124 EFTA01321085 loci:a-MO—V.83 0 -n C in r _ 66805£00 IN9 ANGS BEAR STBRNS °MCC SERvICIN6 YCIJR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison kerma New Yak. New York 10179 12 d Transaction Detail (continued) REPURCHASE AND REVERSE REPURCHASE TRANSACTIONS (continued) SETTIDA0R MAN DM DAM 1WISAC11001 OtSCIU011011 SYM•01P0USMI CIJAM0 DM MOUNT CAW wawa 01/2704 JOURNAL ADP CO 8888888 1.859.030.03 FITM-PR F275318101q 8.625 DUE 12/31/49 2074420692 01/27/04 JOURNAL ADP CO F111.4-PR F275318101: 8888888 1.659.000.00 8.625 DUE 12/31/49 2074420692 01/27/04 JOURNAL ADP CO 8888888 2.075.000.00 F1114-PR F2753181019 8.625 ouE 12/31/49 2074420692 01/27/04 INTERF_ST ADP CD 8888888 276.50 Out 1201/2049 8.625 FITIA-PR F2753181019 2074420692 TOTAL 5.10.807,000.00 $9.713.418.88 MISCELLANEOUS DA1t 1100.11' 11014SACTO11 COOS*01 Cart MflW CAM MOM 01A)8/04 JOURNAL FRG FILM 155,420.00 01/17.04 JOURNAL FITG FITM 79.477.00 91/14004 JOURNAL FRG AIDA 19,611.00 01/16/04 JOURNAL DEC.03 SPEC CLEARING FEES Loom 01/15/04 JOURNAL FRG FILM 32.492.00 01/22/04 JOURNAL FTRA TO FRG 181.088.00 Cann nOVOR n4 noti.r One. SUBSOn Use Sun Sans Cap. 0-e In1401 Cni Pen . Mt 11201.3869 FINANCIAL TRUST CO INC sulb.,O47 of R100 Inn 1. 2004 TOTIIOLCH J.wy 30.2004 AM.,. NT .46.013eR TAnvER ;OMER On Fie LIST STATnni D0C0Mbef 31. 2003 092 01/1104.1141.20 C01 V824 EFTA01321086 0 0 -n C in r 0060SEOCIN9- ANGS BEAR STEARNS OFFICE SERvICING YOUR MU LM Sear. Stearns & Co. Inc. 383 Madison Arenue New York. New York 10179 13 a•3 Transaction Detail (continued) MISCELLANEOUS (Continued) 0Alt 0.40CAY MUSACIM COMP1131. 0:411 AuCtel MEM AMM 01/27/04 JOURNAL FRG F113.4 44.533.00 TOTAL 5.293.137.00 5219,564.00 Your messages ExCOSS 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 CCAPCO1, a New York licensed insurance company. CAPCO has an A. fnancial strength rating from Standard and Pools. End of Statement GLEAM) T14.3 03H wawa. CenED SAMOMY Sew. Sera Smiles CM M Meech Com Notin MM. New Yet 11201.3449 FINANOAL TRUST CO INC STATEMer IMO° Marl I. 2004 mROUM Meaty 30.2004 ACCONer TArPAYEA mare On FFe LAST !RAMAPO Mamba 31. 2003 027 0, 131.04 09 20 CO1 1824 EFTA01321087 CONFIDENTIAL SDNY,M,350901 EFIA_00.3593 EFTA01321088