EFTA Document EFTA01324614

Statements CONFIDENTIAL SDNYGM,355859 EFTA_00228551 EFTA01324614 082.NED 81110123.4 rta ?met. °MAD SlASIDIARY rn 8 b.) 00 10 1.0 O -n C in r 098SSEOCIN9- ANGS BEAR STEARNS °TICE 5ERVICisiG YOUR ACCOUNT Beat. Stearns a Co. Inc. 383 Madison Avenue New York. New York 10179 IIIndLlrLd11I I II JEFFREY EPSTEIN C./0 FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK OUATER 8-3 ST THOMAS VI 00802 Sew. Sterns SeCulUeS Ca'. Cnesionctoch Ceres, North I/ Yon 112014559 JEFFREY EPSTEIN STATEMENT PERCO December 1.2005 THROW:ei December 30.2005 Ai:000w NU8SEJ1 TOPAYER NUMMI Oen* 147 STATEmEV1 Neverrter 30.2004 Pursuant to your previously issued instructions. Bear Steams Securities Corp. provides duplicate monthly statements and/or transaction confirmations to the third parties listed on the cover page of this statement. If you wish to modify or cease distribution to any of the recipients indicated, please contact your Account Executive. This reminder notice will continue to be provided to you on put quarterly statements. Third Party EPSTEIN INTERESTS Art JEFFREY EPSTEIN ATTN HARRY BELLER 457 MADISON AVE 4114 Ft/ NEW YORK NY 10022 027 120318509 00 e01 1899 EFTA01324615 CLEARED T/11=0.1 ITS Were MHO SUMMARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Sere. Stearns b Co. Inc. 383 mAoison Aven.e ACCOUNT ExECIONF ZICHERMANJRA TELEPHONE VISIT OUR WESSITE weralearstoarns.en- What's In This Statement Hindi...L.1.1i Ill Financial Summary 3 JEFFREY EPSTEIN Your Portfdio Holdings 4 CJO FINANCIAL TRUST COMPANY Transaction Detail 6 ATTN JEANNE BRENAN 0 0 Fund Whey Your Messages 6 7 6100 RED HOOK WATER 8.3 ST THOMAS VI 00802 tr 8 IJ V.2 00 to C in r T98SSEOCIN9- ANGS Your Portfolio at a Glance TOTAL W.LuE Or SECURITIES THIS PERIM 4.199.568 Market Value of Your Portfolio Curt & &hamlet MI $618.814 $596.278 MONEY IMRXET F110 8AGINCE 618.814 Ea $4.199.568 ices — 54.316.247 NET Bourn nos mace 84,818,382 Coyest market vaiut NET EQUITY LAST STATEMENT 4.912.525 Last maternerrs menet value CHANGE SINCE LAST STATEMENT .94,143 There are no 'Stop Loss' orders or other pending buy a sell open goers on file fa your account. ul na newt a theaan sato; fouled as Ott ...a b yr. Cava Sanas ry vat pc i• :a Cari Sown at War ,Or4 Saari. Cza". On* IhteA.A canoe %ten. teccor, • Y T•nt.3449 Thi soma fy art letnikasal ;Spews raY.174 nt w707•4 *7a 1Y dried. nn (Werner, no-A1 be "caned br you' tetras See muse Ole let II•Ceta 027 12.3705 C900 001 Sul. Stunt Sean*. Cap. One Mernath Crew Okra aaithaa. Kew TOM 112014859 JEFFREY EPSTEIN STATDAPIT PIP$00 Docents 1.2005 riaccoh Detente' 30.2005 ACCOUVT NAILER 'ASAP Hares On Fib LAST ST ATEVENT Neterriter 30.2035 If any information regarding 2005 irAccest. chridends. mocellaneouS interne. gross proceeds or OrIgnal issue discount IS required TO be reported to the IRS for ths account. a Consolidated Form 1099w1 be marled to you by January 31.2006or a 10425 by March 15.2006. VII99 EFTA01324616 2 VSS8ZZOO-V133 0 z m cim z H r Z98SS£00 IA1D ANDS STATEMENT BACKER IS PRINTED ON THIS PAGE 02? 12,11.O5.09O3 001 „K9 EFTA01324617 CLEASMS alaatAM ITS arntur OAT= suntoyav 5558ZZOO- V.L.43 BEAR STEARNS OFFICE SEFmCING NOM ACCotan Bear. Steams 5 Co. Inc. 383 ?Jalisco menJe Hear. Yaws Sammie. ca One kleinaah Caw an Orcsaha. Meg York 112014559 JEFFREY EPSTEIN 3 0, Cash Flow Analysis nes Pt Income Summary Ns 9B OD 9144 TO DATE STAIT)/Esr fl K0 Decent, 1.2005 neC4.444 DOCerrter 30.200S ACCLUSY WARM Thachwrea MANE Oral. Opening Balance 50.00 Dation& 22535.25 128.395.83 WT STATD(IT Noverreer 30.2005 Ueda Balance Int. 0.00 13.43 Morey Fund 1,881.43 DMdendsanterest 20.65182 Total 522.535.25 5128.409.26 0 Amount Credited Money Fund 522,535.25 -22.535.25 Portfolio Composition -n Amount Debited 5-22635.25 Cash/Usti EqAmknt 0318.814 Nulls 4.199.588 Closing Balance 50.00 C rn z -H Total 54.818.382 Your Portfolio Allocation r _ £9855£00 IND ANGS Sal '213105090S SO, Cash aE 13% EiPtios 87% tbinSK OW. CM)* Oat Cara Arab Y.Y. este, oan4 TN, *XS.", MN:attar a OMM1 P>f, 14 •t .K rrurtet of rar petals MX, EFTA01324618 9558ZZOO-V.L.43 T4iNaGUNO0 P9855£00-019-ANCIS BUR STEARNS OFFTCE SERVICING YOUR ACCOUNT Bert. Steams & Co. Inc. 383 MaLinos M'enue 10179 4 et / Your Portfolio Holdings CASH & CASH EQUIVALENTS CESCS3PTION SvelICISAIS9 DREYFUS CASH MANAGEMENT-CI. A C4C-XX INSTITUTIONAL SNARES EST. 30 DAY AVG YIELD 4.1100% TOTAL CASH & CASH EQUIVALENTS CVANIM 610813.54 IMAM CPII4VID CURRENT MC( mitt ANNUAL WOK MOOR 1.0000 618.814 23.515 3.8000 5618.814 $23.515 EQUMES Ctlefte0 TAOISM ITS WPIOLLY 061CD SIALSOYRY Stet Site-e Senates c Oat vetroieth ever None jos . JEFFREY EPSTEIN ST Tear room Detente 1.2005 THROUGH Deeenter 30.2005 ACCOX47 eutellft TAXPAYER .om On Re MST STATDiestr tioternbet 30, 2005 Equities & Options The research ratings for Bear Steams (BSC) are shown for certain secaities covered by the Frm's Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that AntilySt. The key for the stock rating values is as follows: 0 - Outperform: P - Peer Perform: U Underperform. The second rating represents the rating of the coverage unnerse relative to the regional broader market index. The key for the sector rating is as follows: MO — Market Overweight: MW Market Weight: MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research praricler and their rating may also be displayed. where such research is available. The various providers have normalized their ratings systems as follows: B = Buy: H = Hold: S — Sell. The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice. Bear Steams is neither sobering any action based on such information. nor endorsing any recommendation or opinion expressed by any independent. third-party research provider. The symbol Indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third-party research o • s covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at invw.bearsteams.com or can call to request that a copy of this research be sent to them. C4SCRIIION 511MOL/CUS, ACC1 MC ClUINMY Pea wan, VAlUt ISMATED MOOS WOK YOE (IQ FELCOR LODGING TRUST INC FCH CASH 2.000 17.2100 34A20 1.200 3.4863 GLEN8OROUGH REALTY TRUST PlC GIB CASH 2.000 18.1000 38203 2,800 7.7348 BSC !aim: mac PfSECTOR MN NED DAVIS RESEARCH RATING: H GUMCHER REALTY TRUST-SEM GRT CASH 2.000 24.3200 48.840 3.848 7.9071 HRPT PROPERTIES TR-SBI HRP CASH 1cc000 10.3500 103,500 8,400 8.1159 02/ 12I3 LE6 CO 001 Via EFTA01324619 LSS8ZZOO- Vida 0 -n C in r _ S98SS£00 IND ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York, New York 10179 5 en =ARM MOAN 77S mcwe M1E0 SUBSOURy laws Swum Cm. Cr* aMelech Crow Rath once" Nee Mt 11201.3130 JEFFREY EPSTEIN STATIVIIWT .c.co Detenicei 1.2005 Your Portfolio Holdings (continued) THROV)H AMP-NT WYSE" TAXPAYE, ways LAST stATENENT DeCemter 30.2005 On Me NO71.71bet 30.2035 Equities & Options (COndnuet0 AOCr WWI MINATIO Can OfSERMON MEOWS 111E QUANTITY 9uM YAW( NORA PODIA! m0.0 TN HOSPITALITY PROPERTIES TRUST HPT CASH 2.000 40.1000 80.200 5.840 7.2818 SRI JOHNSON& JOHNSON • JNJ CASH 57.8030 60.1000 3.473.780 78.296 2.1963 BSC ROW: STOCK P/SECTOR IRS NED DAYS RESEARCH RATD1G: MS LUCENT TECHNOIDILIFS INC WTHW CASH 235 0.5650 133 EiP 12/102007 NAYARIT COLD INC NYRW CASH 19 0.3440 7 PAN PACIFIC RETAIL PROPERTIES PNP roc CASH 436 66.8900 29.164 1.029 3.5283 PENNSYLVANIA REAL ESTATE PEI CASH 1.794 37.3600 67.024 4.090 6.1023 INVESTMENT TRUST-SELL RAMCO GERSHENSONPROPERTIES ROT CASH 12,000 26.6500 319,800 21.000 6.5666 TRUST-M0 SN SIRIUS SATELLITE RADIO INC SIM CASH 1,000 6.7000 6,700 BSC RATING STOCK &SECTOR PAN ATLANTIS RESEARCH RATING: B Total Equities& Options 54.199,568 5124.501 TOTAL FOLIITIES 54.199.568 5124,501 VCt, R 0. LOH0,_DI i.;,SES- 1,,IA TEL) ANNUA_ $148.016 YOUR PRICE() PORTFOLIOHOLDINGS 54,818,382 027 12/31.05.0900 001 EFTA01324620 8558ZZOO- V.L43 0 -n rn z r _ 99855£00 N19 ANUS BEAR STERNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. 383 Madison Avenue oT9 10179 CLEARED THROuOm IR M are csomE0 SVISCLARY eta Sewn 5ccurbesC*. 0-t Mt/troth Cow Sem 112014859 JEFFREY EPSTEIN December 1.2005 Deana 30.2005 ET11118 6 aT Transaction Detail STATTYLMT Pi ILO notovon APEOuNT Numileit Donn* Kann MONEY FUND ACTIVITY att LAST STATEMENT NOverribtf 30.2005 100110T TRANSICION cetainiat STIMOUCUSIT OIONTITT EWE OW AMOUNT COICIT AMOUNT 12/01/05 OPENING BALANCE 596.278.29 12/01/05 BOUGHT DREYFUS CASH MANAGEMENT-a. A CCM 300 1.0000 300.00 INSTITUTIONAL SHARES 12/01/05 DIVIDEND DREYFUS CASH MANAGEMENT-a. A mstm.moNAL SNARES MOO 10,1.43 MONTHLY OIVIDFNO 12/01/05 REINVEST DREYFUS CASH MANAGEMENT-a. A Dida 1,881.43 1.881.43 NsintrilDNAL sHARES amino RONYEST 12113/05 BOUGHT CREITuS cAsH mANAGFurfa-CL A sica 19.074 1.0000 19,074.00 IMMUTON/J. SNARES 12f15/05 BOUGHT OREYTUS CASH MANAGEmENT-a. A 1,279.82 1.0000 1,279.82 INsTrturOmAL SHARES 12/30/05 CLOSINGBALANCE 818.873.54 TOTAL S-22.535.25 51.881.43 DIVIDENDS Din cescurnm 12/01/05 FEUD3R LODGING TRUST INC REC 11/15/05 PAY 12101/05 sumoUCIMP Otptmn MTE (S) Fat 2.000 0.1500 000 AMOUNT CREW AMOUNT 300.00 12/13/05 JOHNSON& JOHNSON NU 57.900 0.3300 19.074.00 REC i/22/06 PAY 12/13/05 12/15/05 PAN PACIFIC REIM. PROPERTIES RIP 436 0.6900 257.24 INC REG 11/72/05 PAY 12,15105 017 1201/04.0R00 001 flit EFTA01324621 CUAJNE0 TARCACH NT NACU OWACD SuMONS 6558ZZOO- V.L43 C)0 I I TZ m r _ L98SSECIO INS ANGS BEAR STEARNS OFFICE SERVICING YOUR /ACCENT Bear. Steams a Co. Inc. 383 Madison Meru° New Yak. New vork 10179 7 a 7 Transaction Detail (continued) DIVIDENDS (conUritiod) OAT( DESCIONION 511430.0.618 12/15/05 PENNSYLVANIA REAL ESTATE PEI INVESTMENT TeusT-sel REC 12/01405 PAY 12/15/05 TOTAL WANTON WI (SI 1.794 0.5700 DINT WCAST GUN Stars LUNY Cap. on. .Yana Cat Moth avian Nor Yot 11201.3859 JEFFREY EPSTEIN 813.1190ENT ACA CO Detente 1. 2003 THROUGH December 30.2006 ACCOUNT MANNER TATOATOR Due WIT STATIDANT MOW ASC0111 1,022.58 520.653.82 Your messages As part of the National Association of Sonsities Doles (NASD) Investor Education Program, you may obtain Information on the NASCYs Public Pr m by contacting the NASD at telephone number or via the internet address which is www.nasdr.cm. In addition, a brochure explaining the Public Disclosure Program 6 available from the NASD upon request. End or Staternen, On nor Neolmbe 30, 2005 Florida residents who own. manage. or control stocks, bonds, money market or mutual funds having a value of $250,000 or more for individuals or $500.000 for married couples fling Jointly must pay a tax on these items. called intangible Tax', by lune 30 to avoid Increased nalties For Tax Returns and information, call the Department of Revenue at 027 1211090900 001 V899 EFTA01324622 En IS IJ 00 v, O -n C in r 89855£00- 019- ANGS BEAR STEARNS CCM SERVICING YOUR ACCOUNT Beer. Stearns & Co. Inc. 383 Madsen Avenue NEVI York. New Yak 10179 ACCOUNT VICURVE Ir..HERAIANIRA TELEPHONE VISIT OUR MOSER vmvo.bearsteams.corn What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail Fund Activity 6 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD 4.316.247 WWI MARKET RIND BALANCE 596,278 I II JEFFREY EPSTEIN 00 FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK QUATER B.3 ST THOMAS VI 00802 Market Value of Your Portfolio caw & cam,e, t 3498.228 1590.898 NET MATT TM NERCO $4.912.525 NET EQUITY LAST STATEMENT 4,948.917 CHANGE SNCE LAST STATEMENT -36.392 There are no 'Stop Loss' Wets or 00w pending buy a sell open orders on file for your account. Pots* noel HI deleraopror-tot e axot. r<trze < :dwno u Ho., sa Cunt Sarnen R to 0 tot Simon now slum He-m4 COH, O. MOOHHA Crier telt. OnoVr, NY. 117V.1.115; EWERS 54,316.247 14.358.019 MI Currant Tan Yaks IN/ Last HaternenES MOM Yalue CLEM= THROUGH RS WHOLLY on,z SUESIOn Eat Cann Spann Cap. Intecn Cage Nort 11201.3,19 JEFFREY EPSTEIN STATEMENT Pettno Nownreet 1.2005 THOICV0.1 Nowerrow 30.2005 ACCOUNT WINO TAXPAYER IO.W On Da LAST STATEMENT October 31. 2005 stE Tin Any 9n001.0 et. 1 It set kern as slat ctootnelt. TM Natanett WAYS be reawd Cu yearn". Sm nem ade IN Moan Afornadm 027 120105.07 35 001 EFTA01324623 =ARCO natOoGe ITS %HOW( OWED SUSSOWer Suss. Saves; Ca, Ore Venues Cosa Ws leeddr. III vat 11231-18$9 JEFFREY EPSTEIN 2 se I 9S8ZZOOV1.43 0 0 z m C in z -H r _ 698SS£00 W9 ANDS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 Ij,01,0507:35 COI V898 EFTA01324624 rn 8 b.) IJ 00 CT 15) BEAR STEARNS OMCE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 383 Artacison Avenue ak 10179 3 as Cash Flow Analysis "C P0000 Income Summary illtS 'COCO Haan Opening 8a lance Money Fund $0.00 1.820.12 Divilends 5,380.42 WS Solar Ft 0.00 10.5,860.58 13,43 0 Dividendsilnterest 1560.00 Total 55,380.42 5105.874.01 0 Amount Credited 55.380.42 Money Find -5.380.12 Portfolio Composition m Amount Debited 5.5,380.42 CasneCash EquUalem 596,278 Closing Beene* 50.00 Egan 4,316.247 C rn Total $4,912,525 r OL8SSEOCIA19- ANCIS 027 '.201,11,4))3 COI CLEARED Tilitoural RS W/C-LY 00510 SLIISID‘Ort eat Warn Sant Cap One 1.1/421accrt tatty /1002, s 112014150 JEFFREY EPSTEIN seamen rwroo NOirb21 1, 2005 1111023.1 NO5r1021 30.2005 ACCCUNT MAIM a TAXPAYER woo. On (le LAST STATMENT October 31, 2005 Your Poitfolio Allocation Cosh 5 (Owlet...- 13% 1— tomes 87% laaada Mina tans Nat Ulna rate Nal neat want. Tar Macaw teasnap dyad Mn ea raga* maga .alka M vau. esable EFTA01324625 0-EARED 71•ROUGH int Ww0.6.6 0.6•660 MuCtar to IS IJ 00 0'6 C)0 -n C in r IL8SSEOCIA19- ANGS BEAR STURNS OFFICE SERVICING YOUR Account fleet Stearns & Co. Inc. 383 Manson Avenue 10179 0, 6 Your Portfolio Holdings CASH & CASH EQUIVALENTS 02300,110.4 MISOIJCUSI6 DREYFUS CASH MANAGEMENT-CL A DIM% INSTITUTIONAL SHARES EST. 30 DAY AVG MD 3.500016 TOTAL CASH & CASH EQUIVALENTS tumefy 596,278.29 WHOM (61Wat0 osen Peet YOWL ANNUM. WOK YIELD 1.0000 596.278 22.062 3.7000 5596.276 522.062 EQUITIES Bear Saline Sorbet to Olt Pkirtfeth Cote Nati "war. Keg York 1120161259 JEFFREY EPSTEIN STATVADir PertO> Umerter 1.2005 THROuGe. Uperrter 30.2005 ACCOLV, rumen TwiceAr2R 6ronlIM On Fie LAST STAmen 06-10000 31.2005 Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firm's Equity Research Department. The first rating represents the stock's total return relative to the Other stocks covered by that Analyst. The key for the stock rating values is as lotions: 0 - Outperform; P = Peer Perform; U Underperform. The second rating represents the rating of the coverage uneerse relative to the regional broader market index. The key for the Sector rating is as foibles: MO - Market Overweight: MW is Market Weight: MU = Market Underweight. In cases where a BSC rating is present. the name of an independent third-party research provider and their rating may also be displayed. where such research is available. The various providers have normalized their ratings systems as follows: B — Buy: H - Hold; S - Sell. The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Steams is neither soliciting any action based on such Information, nor endorsing any recommendation or opinion expressed by any independent, thrdparty research provider. The symbol indiCateS that continuing coverage at the subject company is temporarily not available due to legal reasons. Independent. third-party research on at vnin,bearsteams,corn or can call in ni s covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research to request that a copy of this research be sent to them. ACC UMW insane canon 06.9C9911011 STIMOUCULP nM away Oft.= V.N.Ut APAKIM. WOVE 6111.0 FELCOR LODGING TRUST INC FPI CASH 2,000 16.9800 33.960 1.200 3.5336 GLENBOROUGH REALTY TRUST INC GL8 CASH 2000 18.9700 37.940 2,800 7.3801 MC RATING: STOCK PiSECTOR MW NED DAVIS RESEARCH RAMC: H GUICIER REALTY TRUST.SEll GRT CASH 2.000 25.6900 51.360 3.846 7.4883 HRPT PROPERTIES TR-581 HPP CASH 10.000 10.9400 109,400 8.400 7.6782 027 120100607•35 OM vex EFTA01324626 rE1 8 IJ 00 aU BEAR STEARNS OFFICE SERYCIVG YOUR ACCOUNT Sem, Steams & Co. Inc. 383 Matirson Avenue 10179 0.EAREO n WHCALY 00.140 8014100.88 Sm. Ream SeonUt3 IMmecn Caw Math i yee. 11101.1859 JEFFREY EPSTEIN 5 ore Your Portfolio Holdings (continued) Equities & Options (continued) AC OESCIIP11311 SMICEMISIP ME CT EIMMEt MCE blifeaT VALUE UM.= Mit* 510014 STATEMM 8M00 8tOveenter 1. 2005 man.. Nwerter 30. 2005 ACCOuta MA la TAXPAYER ruse On Fie LAST streserer October 31,2005 °MOO 110.D no HOSPITALITY PROPERTIES TRUST IPT CASH 2,000 41.1900 82.380 5.840 7.0891 58i 0 JOHNSON& JOHNSON EtSC RATING: STOCK 9/SECTOR IN/ NED DAYS RESEARCH RATING: 8 JNJ CASH 57.800 61.7500 3.569.150 76.296 2.1377 TZ e l WTS LUCENT TECHNOLOGIES INC OCP 12/1072007 LUTIM CASH 235 0.6200 146 NAYARIT GOLD INC 639347103 CASH 19 0.3170 6 PAN PACIFIC RETAIL PROPERTIES PNP CASH 436 67.3000 29.343 1.029 3.5068 m NC PENNSYLVANIA REAL ESTATE PEI CASH 1.794 36.9300 66,252 4.090 6.1734 WESTER/ TRUST-SET RAMCO GERSHENSONPROPERRES RPT CASH 12.000 27.4300 329.160 21.000 8.3799 TiluST4.0 561 SIRKJS SATELLITE RADIO INC SP I CASH 1,000 7.1500 7,150 MC RATING: STOCK &SECTOR MW r ATLANTIS RESEARCH RATING: B Total Equities& Options 54,316,247 S124.501 TOTAL EQUITIES $4.316,247 $124,501 ZL8SSE00- 019- ANGS YOUR PORTFOLIOHOLDINGSEST IMATE 0 ANNUAL INCOME $146,563 YOUR PRICED PORTFOLIO HOLDINGS 54.912.525 017 11811/110)?:11 001 8898 EFTA01324627 5958ZZOO-V.L43 BEAR STEARNS OFFICE SEFMONG TWA AO3Ouvr Bear. Steams & Co. Inc. 383 Madison Avenue New Yak, New Yak 10179 6 aF OUSE 1208,a1 ITS wyEtLY CrATEO 808310Wri We. Sown Swots CoT. Ow FATIntecn WV, Sot WAS" WI Yert 112014859 JEFFREY EPSTEIN STATEIRDIT PERIOD Nrember 1. 2D35 Transaction Detail TiEtWOM IRTWIlter 30.2005 *WOW WARM TAXPAye. twits On CIO MONEY FUND ACTIVITY LAST STATEW/f Water 31, 2005 DATE WIMP MWSWIOR cescarnoN SNIASOUOJW WOODY eRfE Cal ;wort CREDIT WOW 11101105 OPENINGBALANCE 590.897.87 0 11101/05 DIVIDEND DREYFUS CASH ININAGEMENT.CL A INSTITUTONAL SIURES MONTHLY DNEEND DICOC 1.820.42 11/01/05 REINVEST DREYFUS CASH MANA6EMENT41. A iNSTMAONAL SHARES DION 1.820.42 1.820.42 - z DIVIDEND REINVEST 11/17/05 BOUGHT DREYFUS CASH MANAGEMENT431. A DION 1.460 1.0000 1.44000 C rn z 11/22/05 BOUGHT 11/3005 RiSTITuTONAL SNARES DREYFUS CASH MANAGEMENT-11 A wismunotim. CRAWS CLOSINGBALANCE DICU 2.100 596.278.29 1.0000 2.100.00 TOTAL 5.5.380.42 51.82042 DIVIDENDS r _ £L8SS£00 IN9 ANGS OAST DESCRIPTOR 1117/05 HOSPITALITY PROPERTIES TRUST S81 REC ionuos PAY 11/17/05 SIWOLIOPOP IWT WARM WI CS) 2.000 0.7300 DIM WOW CREW AM0010 1.460.00 11/22/05 HRPT PROPERTIES TR.58i HRP 10.000 0.2100 2.103.00 REC 1421(05 PAY 11/22/05 TOTAL $3.560.00 O2 12.01/0522145 001 7888 EFTA01324628 9958ZZOO-V.Ld3 E I O m r _ OLBSS£00 IN9 ANGS OFFICE SERVICING YOUR ACCOUNT Rear. Steams a Co. Ire. BEAR 383 Madison Avenue New Y New York 10179 STEARNS 4S no rrstOu04 rte %HOW OWIECI SUSSOMY lhar SWIM SCA/MO COO OS Wintech Cann Inn illikatan 11 On 4169 JEFFREY EPSTEIN summon rye= Woke 1. 2005 notouom Octoter 31.2005 AO:Ouvr NumBER 122055,01R 'tweet On filei WT STATEWENT Septernne 30. 2005 ACCOUNT EXECUTIVE ZICHERMAN.IRA TELEPHONE VISIT OUR wE RSV, Ayrotearslearnscom What's In This Statement Financial Summary 3 III JEFFREY EPSTEIN Your Portfoki Holdings 4 C/0 FINANCIAL TRUST COMPANY Transaction Detal 6 ATTN JEANNE BRENAN Fund Activity 6 6100 RED HOOK QUATER B-3 ST THOMAS VI 00802 Your Portfolio at a Glance TOTAL VALUE OF SECURMES TMS PeRIO0 4.358.019 Market Value of Your Portfolio can w omen 1. S590.898 5,582.366 MONEY MARKET FUND IIMMICE 590.898 Elea, 54.358.019 54.448.508 NET mire Da5 Mum 54,948.917 CuTent Market OW NET COURT LAST STA1DAENT 5,028.874 a Last Stoterrats mane: lake CHANGE MACE LAST STATEAIENT -79.957 There are no 'Stop Loss orders or other pending buy or sell open orders on file for your account. nine Men e/weciaacr iona. k. a ZOOMS' A. ID Ore SoMes at .o ten to One Sown M Me Wawa Satan Pe Ventan cent two wenn. NY 1120140/9. grc 7/n sterna it WOnalat3IOWDOSes b eta on a In dean 714 Ottenett *Inn De relined fte yur none. St mane et foe ripartal ~INA 027 11/01.05.013 031 EFTA01324629 04A1140 1, 41101.01 In 14.44041.r OWnED SU0SC444.R1 Dew. 214:41ts Sautes Cap Me 14.40,40, Celia Meth 6. 447171. 144m Tat 11201.3260 JEFFREY EFSTEIN L9S8ZZOO- V.L43 0 -n z C in z -H r _ SL8SS£00 IND ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 11/01435.00 34 001 1/107 EFTA01324630 89S8ZZOO- V.Ld3 0 z ii C in z -H r _ 9L8SS£00 IN9 ANGS BEAR STEARNS OFFICE SERYCING YOUR ACCOUNT Be., Steams A Co. Inc. 383 Madson ;weft* 10179 3 e Cash Flow Analysis MS P0800 Income Summary NES PERIOD WAR 10 CM Opening Balance $0.00 DMclends 8.532.10 100.480.16 Croft Silence Int 0.00 13.43 Money Fund 1.620.50 Mideretsfinterest 6.911.60 Total $8,532.10 $100.493.59 amount Credited $8,532.10 Money Fuld -8.532.10 Portfolio Composition Amount Debited 34,532.10 CashICeon Equwalent 590.898 Closing Balance 30.00 EZPIC142 4.358.019 Total $4,948.917 027 CLEAN= TNTAVON ITS YAC.L °AWED SLISTMATTY Ow Steers Stan ITS One WITMCO, cotta Not St et 112014859 JEFFREY EPSTEIN STATEmea 010t00 October 1.2005 Wriatost October 31 2005 ACCO.A7 wing! TAXPAYER MAW LAST STATEMENT 01611 12% On Fie 5140Ieter 30. 2005 Your Portfolio Allocation uswess >Mom any* TTb• tobva SINSW PP. .will Tikes TM ob..... Toran-Szo uee....e Sabi Mlle. .r..a' 110, 65.011 34 COI '497 EFTA01324631 6958ZZOO-V1.43 0 -n C in r LLBSS£00 LAID ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. aM dison enue 10179 4 re 7 Your Portfolio Holdings CASH 8 CASH EQUIVALENTS OtSCRIMON 37.4001.62.619 DREYFUS CASH MANAGEMDITCL A DICxx NSIMMONAL SNARES EST. non AVG YIELD 3.7500% TOTAL CASH & CASH EQUIVALENTS OVUM, 590.897.87 WRFC" CSINATED =RIX 76Ct YALU( AMIAL *WE 7117D tla 1.0000 590.898 20.097 3.4001 5590.898 520.091 EQUMES =ha Taa 173 761CtLY OVOrED 99B80a 1w. Sas Sates Cap. Ors Mara Car Ma Betty Yet 11201.3659 JEFFREY EPSTEIN STAMIEr.T 90000 Canter I 2005 DIROuGH OCI0196 31.2005 Aaren %NKR 753953901 short On Ce0 51.97 STATEMENT Saga* 30.2005 Equities 8 Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Fiats Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is as f011owS: 0 — Outperform: P = Peer Perfam:U Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO — Market Overweight: MW . Market Weight MU • Market Underweight. In cases wince a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available. The various providers have normalized their ratings systems as fclknys: B - Buy; H - Hold; S — Sell. The ratings information contained herein is for infornati0nal ptrposes only and is not intended to provide tax. legal or investment advice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company Is temporarily not available due to legal reasons. Independent, third-party research on in m nieS covered by the Firm's research is available to customers of Bear Stearns at no cost. Customers can access this research at www.bearstearns.com or can cal to request that a copy of this research be sent to them. C459391.9101 snow:ow MXT TYPE Warr Ma &all VAUX CSTIVARD Ma NM/ 0.MEICI MO mi FELCOR LODGING TRUST INC FCH CASH 2.000 14.9200 29.840 GLENBOROUGH REALTY TRUST INC GLB CASH 2.000 19.1300 38.280 2.800 7.3183 esc RATING: 5100c PISECTC8 IAN NED DAIS liFSEARCH RATING: N GLIMCHER REALTY TRUST-SIN GRT CASH 2.000 22.9700 45.940 3,846 8.3718 FMK PRCeERTIES TR-SBI IMP CASH 10000 10.9100 109.100 8.400 7.6994 027 iirouokopm cc, van EFTA01324632 OL58ZZOO- V.L43 BEAR STEARNS OFFICE sawariG YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madson Avenue isak erk 10179 WARGO 714.44%.04 n ?MOLLY MOPED SISSICApiry Oar. Stows Sennett Cap. Cr* Nome. Una Math Vol 11201.3615 JEFFREY EPSTEIN 5 o• Your Portfolio Holdings (continued) Surepen POMO 11.0,JC•1 ACCOV1.1 Kla4PER TAXPAYER M OclObet 1.2005 oath. 31.2005 On Fib Equities 8 Options (continued) LAST STATEMENT Septette 30.2006 DILIOWTINI SYSIICOCUS0 ACCT COWRY PPICE 144.M1 YAW! MAURO ISM WOK town YEW /19 HOSPITALITY PROPERTIES 'UST HPT CASH 2.000 39.7000 79.400 5,840 7.3552 SBI 0 JOHNSON& JOHNSON 8SC RAMO: STOCK PSECTOR MW DAVIS AEO RESEARCH RAM: 8 JNJ CASH 57.800 62.6200 3.619,436 76.296 2.1080 WES LUCENT 1ECHNOLOGIES INC LUTHIN CASH 235 0.6900 162 -n 12/10/2037 NAYARIT GOLD INC 639347103 CASH 19 0.3080 6 C in PAN PACIFIC RETAIL PROPERTIES INC PENNSYLVANIA REAL ESTATE PNP PEI CASH CASH 436 1.794 63.5000 38.5000 27.686 69.069 1.029 4.090 3.7167 5.9216 PANSWENT TRUST.S8i RAMCO GERSHENSON PROPERTIES RPT CASH 12.000 27.7400 332.880 21.000 6.3086 TRUST-MD Sal SIRIUS SATELLITE RADIO INC SRI CASH 1.000 6.2400 6.240 BSC RATING: STOCK &SECTOR MN r AnANTS RESEARCH RAM*: B Total Equines& Options 54.358.019 5123.301 TOTAL EQUITIES 54.358.019 5123.301 _ 8L8SS£00 IN9 ANGS YOUR PORTFOLIOHOLOINGSESTimATED ANNUAL INCOME 5143.392 YOUR PRICED PORTFOLIOHOLDINGS 54.948.917 02> 1101.03.08 34 001 V•97 EFTA01324633 BEAR STURNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 6 Co. Inc. 383 Madison Avenue New Yak. New York 10179 GLUM nexn n %MOAT OM= $L SOAPY tee. Mrs WASS COP Oro Parton Term Seth ireomm. ore Welt 112114/159 JEFFREY EPSTEIN 6 an summer wwoo Canby 1.2026 TI4401/08 OMEN 31.2005 Transaction Detail ACCOLIR PRAMS TAAPAYER NvIRLCII CM FE* MONEY FUND ACTIVITY LAST STAMMER? SmOTTOH 30.2005 DATE /AWAY measecnow wane stmeueuse oumtnw May own MOM' CI CO AVOW' 10/01/05 OPENINGBALANCE 582.365.77 0 10/03/05 BOUGHT DREYFUS CASH MANAGEMENT-EL A NSTMMONAL SHARES DIG° 5.250 1.0000 5.21900 106105 DIVIDEND DREYFUS CASH MANAGEMENT-CL A OICOI 1,620.50 INSTITUTIONAL SHARES MONTHLY DMOEND E I 10(03105 REINVEST DREYFUS CASH MANAGEMENT°. A DOI 1,620.50 1,620.50 INSTITUT/DUAL SHARES CARDEN° REAMEST m 10/14/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A tismunom SHARES DICU 700 1.0000 700.00 z 10/17/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A INSTITUTIONAL SHARES MOM 961.60 1.0000 961.60 10/31/05 CLOSINGBAJARCE 590.897.87 r TOTAL 5-R532.10 31.620.50 DIVIDENDS I LS8ZZ00- Vida _ 6L8SS£00 O19 ANC'S 0.12E reseewnow 10103/05 RAMC° GERSHENSON PROPERTIES TRuST4A0 SBI REC 09/20/05 PAY 1010305 BRICLATOSP RPT 12.000 0.4375 5,250.00 WARM RATE En OBIT WAR CREW MORO 10,14/05 MINBOROUGH REALTY TRUST MG GIB 2.000 0.3500 700.00 REC 1001/05 PAY 10/14/06 027 11101/0610634 001 YO/37 EFTA01324634 rn I S b.) 00 -J IJ 0 z m 0 m z -H r 088SSE00- O19- ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCaiNT Bear. Steams 6 Co. Inc. 383 Madison Avenue New Yak. New Yogic 10179 7 a Transaction Detail (continued) =OW' -MEN C D 00042:01 RB Ware ovOtED SUBSOARY MMu.%parrs Seosbes Co* — — Ur* NI* Omatin Nes heli 112014059 JEFFREY EPSTEIN STATELVIS MCC OROS 2C05 THROu011 Garner 31.2006 TAIGA ER WISER 100 1.111 DIVIDENDS (CONNO* IASI swoon September 30.2005 OAR OLSCRPCON SYSBOUCUSTI ouvarrY MR IN COO MOW( MDR AMNIA 10/17/05 °WAGNER REALTY TRUST.SBI GRT 2.000 0.4806 961.60 SIC 03/30/05 PATIO/1550s TOTAL 66911.60 End of Statement 027 II/0145,111:34 00I V•07 EFTA01324635 MEMO TWICUSH rr5 wnou 0AAEO SLEMIOMAY rn IS IJ 00 --J (-) 0 m cim H r T88SSE00- O1D- ANGS BEAR STEARNS OFFICE SERVICING ?CIA ACCOUNT Dew. Stearns & Co. Int. 383 Madison Avenue Now York. New Yo•Ic 1 01 79 Illmll tilmll I II JEFFREY EPSTEIN C/0 FINANCIAL TRUST COMPANY ATTN JEANNE 8RENAN 6100 RED HOOK QUATER B-3 ST THOMAS VI 00802 — Slumt &Mut.. Co,. Cnt AMI/tOmh [tow 10214 Moatr. NO. Yon 11201-3559 JEFFREY EPSTEIN STATEMENT Pt.000 Septeirobte 1.2005 11.*V.1"..M seseember 30 2005 ACCOUNT µNM TAXPAYER NUMBER Girt LAST STATE'S? Ao4ust 31. 2005 Pursuant to you previously issued instructions. Bear Steams Securities Corp. provides duplicate monthly statements and/or transaction confirmations to the third parties 'sled on the cover page of this statement. If you wish to modify or cease distribution to any of the recipients indicated, please contact year Account Executive, This reminder notice wit continue to be provided to you on your quarterly statements. Thed Party EPSTEIN INTERESTS NC JEFFREY EPSTEIN ATTN MARRY BELLER 457 MADISON AVE 4TH FIR NEW YORK NY 10022 027 1061.05.i I50 001 V1196 EFTA01324636 CALMED TAITICIAN ITS YaM.EY CAMEO SLESTOMAY BEAR STDIRNS OFFICE SERVCITTG YOUR ACCOUNT Bear. Steams & Co. Inc. 383 MaCulon Avenue New V York 10179 SEM 500n MCLEAN. Cup. One Mentea, Cuter No?, 11201.3859 JEFFREY EPSTEIN ACCOUNT EXECUTIVE DCHERMANTRA TELEPHONE = 3 VISIT OUR al BUTE www.beasteams.com STATEMENT mato TA0u0.4 Seccemw 1.2005 Sectember 30.2005 What's In This Statement IIILIII..elnlellee Milli Ora MAW NC wit KAMM On ne WT STATEMENT EMOTE 31.2005 Financial Summary 3 JEFFREY EPSTEIN Your Portfolio Holdings 4 CJO FINANCIAL TRUST COMPANY Transaction Detail 6 ATM JEANNE BRENMI 0 0 Fund Activity Your Messages 6 8 6100 RED HOOK (WATER B•3 ST THOMAS VI 00802 m C in r Z8855£00- 019- ANGS I8 IJ V.) 00 /Aft -J Your Portfolio at a Glance Cash& Equaalvt Market Value of Your Portfolio $582•366 TOTAL VALVE CC SECURITIES TICS PERIOD 4.446.508 5560,453 MONEY TAROT RIND BALANCE 582.366 Cepa $4,446.508 54.462.889 NET EMMY TINS PERIOD $5.028.874 Current market value NET Win UST STATEMENT 5023.342 Last statemax's market value OUTAGE SINCE LAST STATEMENT 5.532 There are no 'Stop Lose orders or other pending dry or sell open Orders on file for your account. Amu mat rye -rtaaNT of TANTA or mat. raataTM at Muria lo AT Met &mon al or A-16 to Carl Setve.4 t M. Sums Sons Cm, Cm latent^ Came A.m. SAXAM NN ”attatag Anvil" a e , rWrruenl pwbeies wry. ea ra acinded COINS Cant f~ 141 Y /Mat EMIT be remissft yes Hew* Ss tans ode of remetan revelatel 021 100106.11EO 001 EFTA01324637 CLEARV) 71.000M nil YMOLLY OnNED SWAMOre pecr. steams Seams Cap. Cne Maple". ONON NOM 0. Noe net 11001.5159 JEFFREY EPSTEIN 2 5L58ZZOOV.L.43 0 -n C in z -H r _ ENSSECIO IN9 ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 02? 100105.1150 OM VHS EFTA01324638 =ARCO TW1003.4 YAKUT °AND) SLISSIDVAY 9LS8ZZOO- V.L43 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Belt, Stearns 8, Co. Inc. 3B3 Median Avenue 10179 3 oil Cash Flow Analysis PSIOD Income Summary THIS 110A0 TIAlt TOW( Opening BeItt nce $0.00 Dvidends 21.912.41 91.946.06 Dade Galante Inc 0.00 13.43 Mime; Fund 1,558.59 Dieidentfriterest 20.35382 Total $21,912.41 $91,961.49 0 Amount Credited $21,912.41 Money Fund -21.912.41 Portfolio Composition ii Amount Debited 5-21.912.41 CulVtash Equivalent 582.366 Closing Selena $0.00 EqUtles Total 4.446.508 . $5.028.874 C rn r _ PHSSECIO IN9 ANGS 027 104110011 SO 001 OM. Sierra Sena. Cap. One Mercian Cove ?Koh aja Y 11201-3859 JEFFREY EPSTEIN a-wren r43000 Senlembe 1.2005 THIKOC*4 September 30.2005 ACCOula Nab% MEM TAXPAYER Wad On Fla LAST STATE/ANT MOUS 31.2005 Your Portfolio Allocation Cain & 12% linkisise colon, Own*" Ma blw ..d Nan •-I stk.*. The bleatOs owtronn d•Ontal atm ISe —at sNartet neat pu. toga. WOG EFTA01324639 LLS8ZZOO-V.L43 0 -n C in r _ S88SS£00 IN9 ANGS BEAR STURNS OFFICE SERVICING YU" ACCOUNT Bear. Steams I. Co. Inc. 383 Maass., Avenue 10179 4 e Your Portfolio Holdings CASH & CASH EQUIVALENTS DISCRIM311 SWA801.0JM DREYFUS CASH MANAGEMENT-CL A DICK( arSniunONAL SHARES EST, 30 DAY AVG VELD 3.6200% TOTAL CASH & CASH EQUIVALENTS OUMMY 582.365.77 IAMK11 E311.16010 CURRENT MCI VALUE ANNUAL RiCOPAE 'IMO 00 1.0000 582.366 19,800 3.3999 5582.366 119903 EQUITIES WARM TMOX.w rrS mar O" E0 Sts3244ARy Be bum Starnes Cap Ow PAIMX• came sum asis Ch ioat 11101-3239 JEFFREY EPSTEIN STAM.EuT MOOD Sege-rt., 1.2055 MtOt?3,.. Septembu• 30.2[05 AOCCuM -Mat TAXPANIDR MAID! on Fla ter STATINEM August 31.2005 Equities & Options The research ratings for Bear Stearns (BSC) are shown for certain securities cowxed by the Firm's Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that AnalySt. The key for the stock rating values is as follows: 0 - Outperform; P Peer Perform; U = Underputorm. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO - Market Overweight: MW — Market Weight: MU - Market Underweight. In cases where a BSC rating is present, the name of an independent. ttird-party research provider and their rating may also be displayed, where such research is available. The various providers have normalized their ratings systems as follows: B Buy: H — Hold: S - Sell. The ratings inftxmation contained heroin Is for Infcemational purposes only and is not intended to provide tax, legal or imminent advice. Bear Stearns is neither soliciting any action based an such information, nor endorsing any recommendation or opinion expressed by any independent. thid-party research provider. The symbol irX1RetetS that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent. third-party research at wormtearstearns.com or can call CESCAWTON "es covered by the Firm's research is available to customers of Bear Steams at no cost. Customers to request that a copy of this research be sent to them. ACC? WM? COWED CURREM SYUSCUCUSP Mt CIUMTRY PWCF Y.YLL MOM DOM YES (%) can access this research FELCOR I006616 TRUST INC FCH CASH 2.000 15.1500 30,300 GLENBOROUGH REALTY TRUST INC GIB CASH 2000 19.2030 38,400 2.800 7.2917 EISC RAMC: STOCK ASECTOR MA NED DAMS RESEARCH RAM: H GUMCHER REALTY TRUST-SM GRT CASH 2.030 24.4700 48.940 3.846 7.8586 HRPT PROPERTIES IR-SIN HRP CASH 10.000 12.4100 124.100 8.400 6.7687 027 10.01/03:1130 001 MI6 EFTA01324640 =ARM imam ITS Mt.LV MRAGO SUMMARY 8L58ZZOO- V.L.43 0 -n C in r _ 98855£00 IND ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. No. 383 Madison Avenue New York. New York 10179 Sc" Your Portfolio Holdings (Continued) STA-MENT OFF000 THROuGN At 0, 0" vIAKR September 1.2035 *muter 30.2005 TAVAYER MlAlaall CII ne Equities 8. Options (continued) UST ' ,MUM AUfat 31.2036 Asa DESCRIPTM SVIMOLIOSIP nw °WITTY MKS MRSIT WIDE iSIWARO WM/ mem WSW nation HOSPITALITY PROPERTIES TRUST HPT CASH 2.000 42.8600 85,720 5,760 8.7196 SLIII JOHNSON& JOHNSON JNJ CASH 57.800 83.2800 3.657.584 76.296 2.0660 BSC RATING: STOCK PJSECTOR MW NED OAVt5 RESEARCH RATING: B MS LUCENT TECHNOLOGIES INC LUTHW CASH 235 0.9500 223 DP SADO/2007 NAYARIT GOLD INC 639347103 CASH 19 0.3960 8 PAN PACIFIC RETAIL PROPERTW.S PNP CASH 436 65.9000 28.732 1.029 3.5814 INC PENNSYLVANIA REAL ESTATE PEI CASH 1.794 42.1800 75,671 4.090 5.4050 INVESTMENT TRUST-SRI RAMC° GERSHENSON PROPERTIES RPT CASH 12.000 29.1900 350.280 21,000 5.9952 TRUST4A3 SBI SIRIUS SATELLITE RADIO INC CASH 1,000 6.5500 6.550 BSC RATING: STOCK OiSECTOR MW ATLANTIS RESEARCH RATING: Total Equities& Options 54.446.508 5123221 TOTAL EQUITIES $4.446.508 5123.221 YOUR PORTFOLIOHOLOINGSESTIMAT ED AA,. JAL INCO?.'i. $143,021 YOUR PRICEDPORTFOLIOHOLDINGS 55,028.874 Arm Swain Cm One MM->e Cow NM IrceIM PM TM 11201-31,0 JEFFREY EPSTEIN 017 ICAMM:11.60 001 11196 EFTA01324641 6LS8ZZOO- V1-43 BBNIZ STURNS OFFICE SERvICING117UR ACCOUNT Bear. Stearn & Co. Inc. 383 Madison Avenue Now York. New Yeti( 10179 6 e $ Transaction Detail MONEY FUND ACTIVITY ~MO lnimmn rs wRO-LY 0M4110 SUMMARY N. Mann Semen COT Alenotoch 2— MT Moog" Pro Mt 11201.3•59 JEFFREY EPSTEIN STAMAIM RE1000 Swearreer 1.2005 TIMM* *awls 30. 2005 ACCCM7 KRAMER UMPAY01 WSW On Flo LAST STATOMNT Anus, 31.2,305 art 1201DM OPMACTIOR CESOIRTON SnineuSw COAMM MCC DOM AMMO MOM MOUNT 09/01/05 OPENINGBALANCE 560.453.36 0 09/01/05 DIVIDEND DREYFUS CASH MANAGEMEHOOL A INSIT MONMLY =DENO RMONAL »RES DICOC 1.558.59 09/01/05 REINVEST DREYFUS CASH MANAGEMENT-CL A nsmvnoeim. SHARES MC« 1,558.59 1.558.59 ONICOM REIMS! L I 09/13/05 BOUGHT DREYFUS CASH LONAGEMENT.O. A eisnivroun SHARES INC:01 10.074 1.01:03 19.074.00 in z 09/15/05 0913005 BOUGHT DREYFUS CASH MANAGEMENTCL A INSTITLITORR SHARES CLOSINGBALANCE MC( 1.279.82 582.365.77 1.0000 1.279.82 TOTAL 5.21.912.41 51.558.59 r _ L8855£00 OW ÅNGS DIVIDENDS OtSCRPIIM SY...MUCUS.> ~MY Mrt CF1 OEM MORR attlf ~Uhl 09/13/05 JOHNSON& JOHNSON JNI 57.800 0.3300 19.074.00 REC 08/23/05 PAY 09/13/05 09/15/05 PAN PACIFIC RETAIL PROPERTIES PNP 435 0.5900 257.24 MC REC 08/26/05 PAY 09/15/05 027 101)1.53110 EFTA01324642 0858ZZOO-V.L43 0 -n z C rn z -H r _ 888SSE00 IA19 ANC'S BEAR STEARNS OFFICE StImCluG YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Mackson Avenue '0179 7 Pt Transaction Detail (continued) DIVIDENDS (continued) Ciskseo notor-pc its miO.Lv CrAten stasioloav Be. %urn Swims. 009. On IA* dadv Crow Ilatti New nn 11201,31Se JEFFREY EPSTEIN 070.70.2Wf PER= September 1.2005 THROLKel Septenter 30.2005 Accoutr renew TAXPAYER Nument On Ft LAST sTAMAP27 August 31.2005 MIE Paatten004 SYWEICUCUSP 07Atill/v &ATt II OM mi0Uor OlIC0 Maker 09/15/05 PENNSYLVANM REAL ESTATE PEI 1,794 0.5700 1,022.58 INVESTMENT TRUST.SBI REC 09:01105 PAY 09115/05 TOTAL $20,353.82 027 1001225,1110 eel EFTA01324643 I 858ZZOO- V.L43 0 -n C rn r _ 68855£00 IN9 ANGS BEAR STEARNS orrice SERVICING YOUR ACCOUNT Bear. Steams & Co. Ire. 383 Madison Avenue 10179 8 ea Your messages OW' Bear. Steams Securities Corp. Net Capital and Net Capital Requirements: At May 31. 2005 and July 31. 2005, the Company's net capital of approximately S4.1 Dillon and S3.9 bition was approximately 6% and 7% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately 51.3 billion and 51.1 billion by approximately S2.8 billion and S2.8 billion, all respectively. A complete copy of the Bear. Stearns Securities Corp. Statement of Financial Condition is available on the web site vmw.bear tively, to request a free printed copy please call - toll free “EAREO THROSCH rta VOIOLLY Dm40 SIASIDWRY arr. Seers Snows can One %Unto* Cortv Mani Yon 11201.36S9 JEFFREY EPSTEIN STAM/PiT PERCO 54grAntnttn 1.2005 smnOtIOn Seplemter 30.2005 ntrOuvi NUMBER TAXPAWR WAWA On File LAST s-A7ceorr &sum 31.2005 Securities and other assets in your account are the firm's C011ateral for any margin loan made to you. If the securities and other assets in your account decline in value. so does the value of the collateral supporting your loan, and, as a result, the firm can take action, such as Issue a margin call and/or sell securities or other assets in any of your accounts held with the member, in order to maintain the required equity in the account. It is important that you fully understand the risks involved in trading securities on margin. These risks include the following: - You can lose more funds than you deposit in the margin account. - The firm can force the sale of securities or other assets in your account(s). - The firm can sell your securities or other assets without contacting you. • You are not entitled to choose which securities or other assets in your account(s) are liquidated or sob to meet a margin can, - The firm can increase its "house" maintenance margin requirements at any time and is not required to provide you atiVenCe written notice, - You are not entitled to an extension of time on a margin call. 021 .C41.051130 031 '1S36 EFTA01324644 CltARED TROUGH RS WNC(LY OM'(O SOISCHRY IT1 I> 00 00 00 IJ O z m cim z H r 068SSE00- IND- ANGS BUR STD2RNS WIC( SERVICING YOUR ACCOUNT Bear, Stearns & Co. Inc. 3B3 Nilsson Avenue dk 10179 This statement is provided to explain Bear. Steams & Co. Inc.'s CBSC) payment for order flow practices. BSC routes a majority of orders for customer securities transactions to the primal)/ market for such securities. Orders may also be routed to other market service velikii that assure executions pursuant to complex mathematical formulas at better than the national best bid or best offer (N880). BSC receives no cash payment or other consideration for such order routing other than favorable executions or executions of limit orders at no additional charge. STOP End of Statemen ter. Stan Smarm cap. One Mentor Grow Wath e isaar 11201-3,10 JEFFREY EPSTEIN STATZUFier HEHOO September 1.2005 THIC(CR September 30. 2001 KGGOUNT MIS TA/GAYER N,PJ& On Fre LOT STATVIGHT Auguv 31. 2005 Pirsuant to SEC Rule 11Ac1-6. please note the following: Bear. Steams & Co. Inc. will post its quarterly routing statistics at the following web link: http:Thinwr.bearsteamS.comf. Click on Individual Investor, Click on Equities. Click on Order Routing Practices. Customers of Bear. Stearns & Co. Inc. may request information on any order executed within the prior six months from the time of the request. Spetilicaly, you may request the identity of the venue to which the identified orders were routed for execution, whether the order was directed by you to that venue. and the time of the executions, if any, that resulted from such orders. Oil 100106.1110 001 YU. EFTA01324645 En I8 IJ 00 to 00 0 m m r T68SSEOCIA19- ANGS BEAR STEARNS OFFICE SERVICING ITTUR accouter Rear. Steams IS Co. Inc. 383 Madison Avenue New Y Ne W Neck 10179 ACCOUNT ELECuINE EICHERMAKIRA TELEPHONE ■ VISIT OUR MOSHE W.W.beanteamS COrn What's In This Statement FIrmnCT8I Summary 3 You Portfolio Holdings 4 Transaction Detail 6 Fund Activity 6 Your Portfolio at a Glance TOTAL VALUE OF SECURTTES THIS PERM 4.462.889 HONEY IMRKET FUND BALANCE 560.453 111.11..1..1.1i 111 JEFFREYBPs7Buf WO FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK QUATER B-3 ST THOMAS VI 00802 Market Value of Your Portfolio ett, a boner — $580.453 5555.487 NET MOWN THIS PERIO0 55.023.342 NET COUCH UST STATEMENT 5.083.397 CHANGE SINCE UST STATEMENT -60.055 There are no *Stop Low orders or other pending buy or sell open orders on file fa your account. Pone ran rye et 090s a Itch. *Wall &caeca° s nu. Cien 69‘591 co tomo 9 C* Samoa or but Sian Soars. Cor60o usres9 Cons Nom. One" I SI .31.4 Current market St OM Last statements market raw 64.462.999 $4.627.960 CLEAREO 11001915 1.000139 081430 SLINSIOARY Gov Sterns Sccumon 590 One 1.189991, CIO/ With New Von 11201.3859 JEFFREY EPSTEIN STATTUE1.7 PER/00 My 30.2006 THROUGH Swum 31, 2005 " ni p 193:5AYLIR .LAMER OR nie WT STATEVEM7 14 29.2006 Asr 711s 'any" It sr Mortimal onoves O . II m Mr 'orate 81 a in mane% ^tt •et of role It rtrarecI ler sour mores Ste Moen PM Sy 'vows Misname, 027 CO0105 IS 21 COI 9395 EFTA01324646 CLWW THROUGH ITS WOOLLY PASEO GALWAY Bur. Sus SS Cs Cr* Ss Cs? s Vent 1120141M JEFFREY EPSTEIN 2 as t8S8ZZOO- Vida 0 -n z C in z r _ Z68SS£00 IN9 ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 06,01/0671337 CO7 EFTA01324647 5858ZZOO- V.L43 BEAR STEARNS OFFCF SERvICWG YOUR ACCOUNT Boar. Steams 6 Co. Inc. 383 Madison Menu° 10179 3 Cash Flow Analysis DG PC4100 Income Summary 1145 P0050 itiri ID C41£ Opening Balance Money Fund DMdemIsArtereet $0.00 1.476.81 3.540.00 Oiiden0s 5.016.81 Creak Babrcs Int. 0.00 Total 35 018.81 70.035.65 13.43 370049 08 0 z -n Amount Credited Money Fund Amount Debited 55.016.81 -5.016.81 34 018.81 Portfolio Composition EasinCasit Equnatem 560.453 (woes 4,462.889 Closing Balance $0.00 C in z J Total $5.023.342 r _ £6855£00IN9 ANGS 027 COO /756.13 27 C01 CUOMO TIIMUCOr ITS YO1C114 DAVID WOMORY am Stan Snuibes COY- Coo - Corby 1401/1 disidecri 112014859 JEFFREY EPS1EnJ STATIMM M114:0 My 30. 2005 150101.01 4...cm 31.2005 ACCCOM *MISER MOM,* Mato On MO LAST MATEUMT Jay 29.2006 Your Portfolio Allocation theado4 pradi Prele feta NIILMS /KM SKr, mite yal.M. U. osorgat ;swum a els...4 — Ste Rea Meet .we or yr, tololo. VIM EFTA01324648 9858ZZOO-V.L43 0 -n C in r _ U68SS£00 IN9 ANGS BUR STEARNS OFFICE SERVICING Mat ACCOUNT Beer. Stearns 8 Co. Inc. 383 Madison Avenue Mark 10179 4 ea Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCOPFON SaletuSe DREYFUS CASH NIANAGEMENT4X A DI= INSTUUDONAL SHARES EST, 30 DAY AVG YIELD 3.3400% TOTAL CASH & CASH EQUIVALENTS COMM WOW MOWED WHIM VAUR MOM *C ?KID OA 560.453.36 1.0000 560.453 17.935 3.2001 $560.453 $17.935 EQUITIES CLUMO THROuroi In Wstisr OwnED SUISOVJtY w. — Soatila. Cow One Iferelech Corlsr Nedb Wash% *we nn II201.uss JEFFREY EPSTEIN STAMM, rum Jay 30.2005 nwouael Weal 31.2005 ACCOVDIT 10.0131 ?WATER Mate On Fie LAST Currant...I' lUly 29.2005 Equities It Options The research ratings for Bear Stearns (BSC) are shown for certan securities covered by the Firm's Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst:lb° key for the stock rating values is as follows: 0 - Outperform: P - Peer Perform: U = Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO -. Market Overweight: MW Market Weight MU - Market Underweight. In cases where a BSC rating is present, the name of an independent. third-party research provider and their rating may also be displayed. where such research is available. The various providers have normalized their ratings systems as follows: 8 - Buy; H - Hold: S - Sell. The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or iwestment advice. Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not avail hie due to legal reasons, Independent. third-party research on at wabearstearns.com of can call in n . covered by the Firm's research is available to customers of Bear Stearns at no cost. Customers can access this research to request that a copy of this research be sent to them. ACC? MOW ISTINATE0 CURRI/0 cesanos SYMOOLOS TYPE QUANTITY NM MOE HAM. MOW .me 00 FELCOR LOOGWG TRUST NC FCH CASH 2.000 15.2500 30.500 GLEN8OROuGH REALTY TRUST WC GU) CASH 2.000 20.0500 40,100 2.800 6.9825 BSC RATING: STOCK P/SECTOR MA' MO DAVIS RESEARCH RATING: H GLIMCHEFt REALM TRUST-SW GRT CASH 2.000 26.0000 52.000 3.846 7.3962 HRPT PROPERTIES TR-SBI HAP CASH 10,000 12.0000 128.000 8.400 6.5625 027 OW01/05:1327 001 VIM EFTA01324649 L858ZZOO- V1.43 0 0 m C in r _ S68SS£00 IN9 ANGS BEAR STEARNS OFFICE SERVICING WuR ACCOLPIT Bear, Steams & Co. Inc. 383 Madison Avenue New Yolk. New Yot ,0179 5 o• sTflw).' 8€,000 MAC4XIN )u 30.2005 August 31. 2005 Your Portfolio Holdings (Continued) ACCCUKT 00.096 it Equities & Options (corxinJea) TAXPAYIA rotate LAST 31011wINT On rIP hit; 29.2005 ACC MWNEI (51WATED Ofln DESCRPDON 511.400010.191. TWE OOWTOr 9092 WWUE AIMS 81001E 11(10 HOSPITALITY PROPERTIES TRUST HPT CASH 2.000 43.3600 86,720 5.760 6.8421 $81 JOHNSON& JOHNSON JNJ CASH 57.800 63.3900 3.683.942 76,298 2.0823 BSC RATING: STOCK WSECTOR /AV NW DAVIS RESEARCH RAMS: B MS LUCENT TECHNOLOGIES INC LUTNW CASH 235 0.8300 195 DM 12n 012d07 NAYARIT GOLD INC 639347103 CASH 19 0.3540 7 PAN PACIFIC RETAIL PROPERTIES PPM CASH 436 66.2700 28.894 1.029 3.5613 IJC PENNSYLVANIA REAL ESTATE PEI CASH 1.794 43.1500 77,411 4.090 5.2835 INVESTMENT TRUST-Std RAMC° GERSHENSON PROPERTIES RPT CASH 12.000 29.0200 348.240 21.000 6.0303 TRUST-MO S& SIRIUS SATELLITE RADIO NC SIRI CASH 1.030 6.8800 6.880 BSC PATNG: STOCK OJSECTOR Mw ATLANTIS RESEARCH RAMC: B Total Equities& Options 14.462.889 $123,221 TOTAL EQUITIES 54.462.889 $123.221 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME 5141.156 YOUR PRICED PORTFOLIOHOLDINGS 55.023.342 CLCARC3 711401X01 ITS WHO,LY °AHED Sle40)99‘. Sea Rams Secuniti C011. OR Phottecn Caw 1401, 600.09 Igo Yen 11201-3059 JEFFREY EPSTEIN 027 Oftn.105,13:22 001 VOSS EFTA01324650 0.EARED 11010X... I-S V41•OLLY ODKO suesoury 8858ZZOO- V.L43 C) 0 -n C in z r _ 96855£00 INS ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. ex. 383 Madison Avenue New York New York 10179 6 et e Transaction Detail MONEY FUND ACTIVITY Bear. Souse Stoson CaD. Ole lAelsaech CAM* Moll BrOYthri. Paw York 1110148511 JEFFREY EPSTEIN STATIYMWD Pe rOOO lay 30.2005 THROUGH MIPS( 31.2005 AD:O1.41' TAXPAYER !TIMBER Qt Ft LIST TrATAINT My 29. 2005 DUE WWI 111a 12430110110/ SEMI/CUSP <MIMI N1Bf NM Ati0:10 CIttert MOUNT 07(30/05 OPENINGBALANCE 555.436.55 08/01/05 DMDEND DREYFUS CASH MANAGEMENT-CL A DICXX 1,476.81 DISTRuTiONAL SHARES MONTHLY WORM) 08/01/05 REINVEST DREYFUS CASH MANAGEMENT-CL A 1,476,81 1.476.81 MSTITUTIONAL SHSTARES ONMEA0 REMVE 08/18/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A 1.440 1.0000 1.440.00 INSTIRMONAL SNARES 08/25/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A leSTITUTIONAL SHARES 2.100 1.0000 2.100.00 08/31/05 CLOSINGBALANCE 560 453.36 TOTAL 5-5.016.81 51.478.81 DIVIDENDS DAN orscAmnoN THHICuOtip CRIANIITY WEN 08/18A)5 HOSPITALITY PROPERTIES TRUST HPT 2.000 0.7200 SW REC 07/21/05 PAY 08/1895 MIFF MnOu 00XF AMOUNT 1.440.00 08/25/05 HRPT PROPERTIES 111-58I HRP 10.000 0.2100 2.10000 REC 07/25/05 PAY 001/25/05 TOTAL 53.540.00 017 01101/1101027 001 VIII EFTA01324651 6858ZZOO- V.L43 C) 0 z m C in z r _ L68SS£00 IN9 ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New Yen( A' Yon 10179 CLEARED mama ns ?MOLLY OM= 8908109.RY Be. loam Swan, Cap. Or Motetocn North vM 112014995 JEFFREY EPSTEIN ACCOUNT ErECHIGE ZICHERIAAN.IRA TELEPHONE VISIT OUR NEWT( waw.bemsteams.com What's In This Statement Financial Summary 3 JEFFREY EPSTEiN STATEmExT PE*100 My 1.2005 THROUCrl My 29.2005 Arcerwr NumilUi T MOM'S% mama on Me LAST ITATEWIT Jule 30.2005 Your Portfolio Holdings 4 CAD FINANCIAL TRUST COMPANY Transaction Detail 6 ATTN JEANNE BRENAN Fund Activity 6 6100 RED NOOK QUATER B-3 ST THOMAS VI 00802 Your Portfolio at a Glance TOTAL VALUE OF SECURMES EMS PERM 4.527.960 Market Value of Your Portfolio Cash A basilica: —e " 65•437 8547211 MONEY MARKET FEND BALANCE 555.437 EgudieS 14.527.960 54.567.268 NET EQUITY THIS PERi00 55,083.397 Cum:amen( nine NET EQUITY LAST STATEMENT 5.114.479 IIIII Last statements mane( value *LANGE SINCE LAST STATEMENT -31.082 There are no Stop Loss' orders or other pending buy or sell open orders on file for your account. reOVI air 4, to, otos to axis ea.ral es esinen: la Chet Savo,. r Cu-9 Stearn if 0a% Sawn. Sotsr+44 Ora Ow Yeawr C.9. heti &War. NV 112;1409 TH1 snowy is vu kritimiliVt P.m*. My. Finn,' Needed 5, a to 099net Thn szewav abldde rttanee tonOut MOM See mars* 'defer rebt4tt Scernstne 02/ 07,30%1009 0,' it95 EFTA01324652 CLEARED twROVOM nt AWCW, 00,4CD SAISOVAY Bea. SUrs Semites Cap. Cfre Vented, Carta M3*t eadir, 11201.1lill JEFFREY EPSTEIN 2 & 0 z m 0 m z -H r 86855£00- 019- ANGS IS IJ 00 U 8 STATEMENT BACKER IS PRINTED ON THIS PAGE pD C7'3005100 CC 'US EFTA01324653 CLEARY° anCLOn fl at OnTO) SUMMARY I 658ZZOO- V.L43 C) 0 z m C rn z J r _ 66855£00 IND ANGS BEAR STEARNS OFFICE SERVICING TWA *Mawr Sear. Steams & Co. Inc. 383 Madison Avenue New Vcrie New York '0179 3 d Cash Flow Analysis MS 'VICO Income Summary MS P0900 YU! JO PA Openingthelance 30.00 Ontlends 8.225.15 65.018.84 Crock Balance WC 0.00 13.43 Money Fund 1.313.55 Total 38 225.15 165 032.27 Ohidends/Interesi 6.911.60 Amount Credited 58.225.15 Money Fund -8.225.15 Portfolio Composition Amount Debited 3-8.225.15 CasIVCash Equivalent 555,437 Equities 4.527,960 Closing Saltine* 30.00 Total 35,083.397 027 Bea Sawn Stranal Can Cnt IMMO Cenlei Nat, liroSat We Yon 11201.3869 JEFFREY EPSTEIN 8TATIMENT 8911100 Ay 1.2005 THROWN My n. 2005 ACCOUNT MASER TOXPAYM 10~ On Fit LOST stmewort kn. 30.2005 Your Portfolio Allocation Cash & E 10% Inn ne& Minx 0.-ca Oat Mina Nano ..al nano scut The Inman notenine meant Km Ow tonao nann rato et nos %elan onions10CP 001 1189$ EFTA01324654 rn IS IJ DO 10 IJ 0 m IJ m r 006SSEOCIA19- ANGS BUUR STMRNS OFFICE SERVICING YOUR ACCOUNT Beer. Stearns & Co. Irc. 383 Madison Avenue ilialideck 10179 4 sc Your Portfolio Holdings CASH & CASH EQUIVALENTS [COMM SYNOWOJS, DREYFUS CASH MANAGEMENT-CL A DICSOC INSTITUT/NAL SNARES EST, 30 DAY AVG YIELD 3.2000% TOTAL CASH & CASH EQUIVALENTS Ctmein 555.436.55 WSW EltleAMD CUeehil YALU( MIMI NW* TED 04 1.0000 555.437 16,106 2.9001 5555.437 516,106 EQUITIES =Anti netOutoi valour OWNED 0.4.80 Y kw Sian Seames Cap DAR Wettern Gnu Wei NIed Yen 11201.3.1$0 JEFFREY EPSTEIN STATE/ENT PEMOO kb 1.2005 714botxm lu/y 29.2005 Aernart TAxemn KaAKet On hie tAs7 TARNS w7 June 10, 2005 Equities & Options The research ratings for Bear Stearns (BSC) are shown for certain securities covered by the rem's Equity Research Department, The first rating represents the stock's total return relatNe to the other stocks catered by that Analyst. The key for the stock rating values is as follows: 0 . Outperform; P .. Peer Perform; U = Underperfam. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO - Merkel Overweight MW - Market Weight: MU e Market Underweight. In cases where a BSC rating is present. the name of an independent third-party research provider and their rating may also be displayed. where such research is available. The various providers have normalized their ratings systems as follows: B is Puy; H - Hold S - Sell. The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice. Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons. Independent, third-party research 0 "es covered by the Firm's research is available to customersof Bear Stearns at no cost. Customers can access this research at ymw.bearstearns.com or can call to request that a copy of this research be sent to them. wan ESTAWID OltStyl DISCRIMON PIAIOUCUSP sec INTI 010/117I Plea VALUE MILK 040:04 MU to FELCOR LODGING TRUST INC FCH CASH 2.000 15.5500 31,100 CLENBOROUGH REALTY TRUST INC GLB CASH 2.000 20.9600 41.920 2,800 6.6794 85C RATNG: STOCK NSECTOR MW NED DAVtS RESEARCH RAVING: S GLIMCHER REALTY TRUST-581 CRT CASH LOCO 28.8500 57.700 3,848 13.8855 HRPT PROPERTES 1R-Sal IMP CASH 10.003 12.8900 128.900 8.400 8.51137 027 07/30051009 001 Via EFTA01324655 0 ii C in r TO6SSEOCIA19- ANGS I8 IJ V.2 00 EA BEAR STEARNS OFFICE SERVICING YOUR ACONAVT Bear. SteamS & Co. Inc. 383 Madison Artrme New York N ri Yeck 10179 CLEARED TSTICoGn ITS voiCtl 0A140 StaStVARY Sex — 5.0-on C07 Metnisch Cote Von 1120..3559 JEFFREY EPSTEIN STATEWk7 PERKO .L 1. 2005 5 N5 11/ROUGH Jay 29.2005 Your Portfolio Holdings (continued) Af",‘" NT swan TAKPAYEA AVAIR Cn nN Equities & Options (continued) LAST STATEMET.1 JUne 10. 2005 ACCI oesessmoN SWAKIL/CUSIP TIPS dally 11011 NU MKES ut BMA= WAIN. INCOIlf CU NT TITIO RRE HOSPITALITY PROPERTIES TRUST Mn CASH 2.000 44.4000 88.800 5.760 6.4865 SBI JCNNSONE. JOHNSON 1W CASH 57.800 63.9600 3.696,888 76.296 2.0638 BSC RATING: STOCK NSECTOR MW NED EWAS RESEARCH RATING: WTS LUCENT TECHNINPGIES INC LUPIN CASH 235 0.7300 172 OP 12110/2007 NAYARIT GOLD NC 639347103 CASH 19 0.4570 9 PAN PACW1C RETAIL PROPERTIES PNP CASH 436 69.5100 30,306 1.029 3.3954 NC PENNSYLVANIA REAL ESTATE PEI CASH 1.794 48.9100 87,745 4.090 4.6612 INVESTMENT TRUST-SBI RAMCO GERSHENSONPROPERTES RPT CASH 12.000 29.8000 357.600 21.000 5.8725 TRUST4/0 SRI SIRIUS SATELLITE RADIO INC SIRI CASH • cce 6.8200 6.820 BSC ROW: STOCK P/SECTOR MW ATLANTIS RESEARCH RATNG: 8 Total Equities& Options 54.527.960 5123.221 TOTAL EQUITIES 54.527.960 Si 23.221 YOUR PORTFOUOHOLDINGSESTIMATED ANNUAL INCOME $139.329 YOUR PRICEOPORTFOLIONOLDINGS 55.083.397 027 07/30057000 001 SUS EFTA01324656 17658ZZOO-V.L.43 0 z m C in z r _ ZO6SSECIO IN9 ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Ine. 383 Madison Avenue New Yea New York 10179 6 a Transaction Detail MONEY FUND ACTIVITY DUE 1/30AY IROISACDON OLSOWTON 07/01/05 OPENINGBALANCE 07/01/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A INSTiTIAMNAL SHARES 07/01/05 DIVIDEND DREYFUS CASH MANAGEMENT-CL A INSTiTuTICNAL SHARES MONTHLY DMTIO4D 07/01/05 REINVEST OREYFUS CASH MANAGEMENT-CL A parrrunota. SHARES DIVIDEND REINVEST 07/15/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A INSTITUTETML SHARES 07/29/05 SINGBALANCE TOTAL DIVIDENDS 0-EARED noieue, as ve,OLLY 001.40 Sue&D.AitY Btu Stearn Secolfes Cop Crie MetioUpch Claw MID Orme% Mew Yea 11014850 JEFFREY EPSTEIN STATE: MKT PERICO AAJ 1. 2035 TmROUGH AO/ 26. 2005 AOSCIII7 101•1/R TAXPAYER POW On nil 1AST STATEMENT ANN 32.2005 SMIESUCLISP Cowan P OM MOM CREW mourn 547,211.40 DIC4C 5,250 1.0000 5.250.00 DIGO( DIC)3( 1,313.55 1,313.55 1,313.55 DOM 1561 60 1.0000 1,661.60 555.436.55 5.8,725.15 51 ,313.55 DATE DESCOPIDI SDIMOLICIISIP DWAIN DAN 01 OMIT AMOUNT CREW MOM 07/01105 RAMCO GERSHENSON PROPERTIES RPT 12,000 0.4375 5250.00 TRUST-1.10 S211 REC 06/2005 PAY 07/01/05 07/15/05 GLENBOROUGH REALTY TRUST INC cis 2,000 0.3500 700.00 REC 07AM/05 PAY 07/15/75 07/15/05 GLIMCHER REALTY TRUST-SBI GRT 2.000 0.4°08 961.60 REC 06,30175 PAY 07/1S175 TOTAL S6.911.60 0741006:10C. 611 %105 EFTA01324657 5658ZZOO-V.L43 0 -n C in r £0655£00 INS ANGS COX( Sad/CM YOUR ACCOUNT Sear. Stearns b Co. Inc. BEAR 353 Madsen Avenue STEARNS Mar 10179 =ARCO 1140101/04 IM va•OLLv OvANE0 SUBSIOARY Na.Slats Seaebee COT One liteviecn Cuall Nene WA sok 112014419 JEFFREY EPSTEIN ACCOUNT EXECUTIVE ZEIRRMANTRA RICRIONC YEN OUR ViESSITE worrAteasstearns.corn What's In This Statement Financial Summary 3 11111111/1 1111111111111! 11 I JEFFREY EPSTEIN STATDANT (IMOD 11410.4et ACCOLAIT µMISR TexeAre. KAMM LAST STAT.:NEWT lune 1.2005 lune 30.2035 On Fle ;My 31.200$ Your Portfolio HOldings 4 C/0 FINANCIAL TRUST COMPANY Transaction Detail 6 ATM JEANNE BRENAN Fund Activity 6 6100 RED HOOK OUATER B-3 Your Messages 7 ST THOMAS Y1 00802 Your Portfolio at a Glance TOTAL vAUJE OF SECURITIES TH5 PERIOD 4.567.268 MONEY MARKET FUND BALANCE 547.211 Market Value of Your Portfolio oast a (Omen 3547211 S525.519 MET IECIUOY MIS PERIOD $5.114.479 NET EQUITY LAST STATEMENT CHANGE MICE LAST STATEMENT 5.176649 -61.370 There are nO 'Stop Loss' orders a 0(1w pending buy of sell open afters on file for your account. PUNA ry .. Nati c‘opra. war a c'ers 0 vols. eeteete n ile, e9111) eve A. two Seem a e• Age Le Cleo Sava.f Ow Sart Soon. Cues. 0-4 LiSeetece CA MX M, eaten yv E•12,4110 Chas NS Current market Yak* Last statements market vaisro 54.567.268 54.660.260 'annalsA els—aboul vaepeett coy. II n net menlel as 3Ines:net •revere eeo .e Wsneeex ee.r feCoeln Sr. moose We hr meow* dine., 027 07.21,O1.10 42 or COOrflo00011: Unless lee hear from you to the contrary, it is our understanding that any Tree credit balances in pis account aro being mairrianed to facilitate you ntention to invest such amounts through us. EFTA01324658 CLUAtO 2.4201004 08 Yairy..2Y C00.ED SVISOVAY Beet Sten Seckrititt Cbbbb ee 0.0021201 fear 14010 olt 20 4039 JEFFREY EPSTEIN (-) 0 z m cim z H r 1706SSEOCIND- ANGS STATEMENT SACKER IS PRINTED ON THIS PAGE 027 07101006.1*42 COI VINIP EFTA01324659 L658ZZOO- V.L43 0 0 z m C in z r _ 50655£00 IN9 ANGS BEAR STEARNS OFFICE SERviCiNG YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York Neei ''; 10179 3 017 Cash Flow Analysis nos POMO Income Summary na MA 10 aut OpeningBalance $0.00 Oniderxls 21.622.03 56,793.69 Credit Bala Ira. 0.00 13.43 Money Fund 1,268.21 Dieidends/Intarest 20.35322 Total $21.622.03 356.807.12 Amount Crecliterd 321.622.03 Money Fund -21.622.03 Portfolio Composition Amount Debited 3-21.622.03 Cashier:oh Equtralent 547.211 Ecadtles 4267.268 Closing Balance 30.00 Total 3.5 114,479 027 07/01.0541342 001 WARM THROUGH 773 31404.57 0.5330 SullSOVRY Bar. Stan. Sams Corp. Ow welter On Noll Saclays Pam Yea 11201.0350 JEFFREY EPSTEIN maven PERCO 3.113 1. 2005 THROWS in 30.2006 ACCOUNT NUMMI TOJCPAY1E3 MAW On ne tar sintroien May 31.2005 Your Portfolio Allocation Cash 4 faunae 10% 90% nova aon as Ord* oat lain vote Vol gni roan. 77 Scans perwras N derMs1 tan ths aOsola nano Ma d td oantia EFTA01324660 8658ZZOO- V1d3 0 0 TZ r l C rn r _ 906SSE00 IN9 ANGS BEAR STEARNS OFEICE SERVICING YOUR ACCOUNT Bear. Steams b Co Inc. 383 Madsen Avenue Milligork 10179 4 at 7 Your Portfolio Holdings CASH 8 CASH EQUIVALENTS oLscrtrnar ST)ASX/CUSIP DREYFUS CASH MANAGEMENT-CL A MOO( INSTITUTIONAL SHARES EST. 30 DAY AVG VELD 3.0400% TOTAL CASH & CASH EQUIVALENTS 6.1.7CITY 547.211.40 tate Mum° CLOSEST Pau VALUE MIWM. FOAL Vino ne 1.0300 547.211 15.869 2.9000 5547,211 51 5.869 EQUITIES =MED TIOIOLGIN WHOLLY 06•14a SIAVOILAY be. fens Stunt Co Ono Moment Come men ads yet 112014859 JEFFREY EPSTEIN STATE/4%7 PERM An 1, 2005 THSCrJON Are 30. 2035 CLOW` NAM* TA7PAY22 724141741 On Fae LAST STATELCIT Way 31. 2005 Equities 8 Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Finn's Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is es follows: 0 - Outperform; P = Peer Perform; U - Underperform. The second rating represents the rating of the coverage universe relative to the regional broader market index. The key (or the sector rating is as follows: MO - Market Overnight MW - Market Weight MU - Market Underweight. In cases where a BSC rating is present. the name of an independent. third-party research provider and their rating may also be displayed, where such research is available. The varlets providers have normalized their ratings systems as follows: B - Bur H - Hold: S - Sell. The ratings information contained herein is fa informational purposes only and is not intended to provide tax, legal or iwestment acNice. Bear Stearns is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent. third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available duo to legal reasons. Independent. third-party research at www.bearSteams.com or can call Ct$02,11CN " covered by the rim's research is available to customers of Bear Stearns at no cost. Customers can access this research to request that a copy of this research be sent to them, Aca IMACT ESTIMUD3 cunrm SYMBOULLSP 11)f CILcumry matt wall MAP. NCO YiEl0 flit FELCOR LODGING TRUST INC FCH CASH 2.000 14.4800 28.960 GLENBOROUGH REALTY TRUST INC GIS CASH 2.000 20.5900 41.180 2.800 6.7994 BSC RATING: STOCK PESECTOR Mw SABRIENT SYSTEMS. L.LC. RATING: H GUMCHER REALTY 1RUSTZBI GRT CASH 2.000 27.7500 55.500 3.846 6.9297 HRPT PROPERTIES TR-581 HRP CASH 10.000 12.4300 124.300 8.400 6.7578 027 07101/06:1*42 COI VIII3P EFTA01324661 CLEARED THROUGH ITS va•Stsv Oswalt SUISCARY 6658ZZOO- V.L43 0 -n C rn r _ LOGSSECIO IN9 ANGS BEAR STEARNS CCM( SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 MaOrson Avenue New 'fork New York 10179 S c. Your Portfolio Holdings (continued) Equities & Options (continued) CESOUPTCW STMOOLCAP Tit Owen Peet 1.4.1500 VALUE [ ATED AllWalM MCCUE 0.05coa MO PAI HOSPITAUTY PROPERTIES TRUST HPT CASH 2.000 44.0700 88,140 5.760 6.5351 SBI 13HNSON& JCHNSON JNI CASH 57.800 65.0500 3.757.000 76.296 2.0308 BSC RATING: Sl:XX FYSECTOR MW SJU3RIENT SYSTEMS. L.L.C. RAYING: H WTS LUCENT TECHNOLOGIES INC LUTHW CASH 235 0.7700 181 DIP 12/10/2007 HAVARTI GC4D INC 639347103 CASH 19 0.5130 10 PAN PACIFIC RETAIL PROPERTIES PNP CASH 436 66.3800 28.942 1.029 3.5554 INC PENNSYLVANIA REAL ESTATE PEI CASH 1.794 47.5000 85.215 4.090 4.7996 iNvEsmort TRUST-Sal RAMCO GERSHENSON PROPERTIES RPT CASH 12.000 29.2800 351.380 213:00 5.9768 TRUST-MO 581 SIRIUS SATELLITE RADIO INC 506 CASH 1.000 6.4800 6.480 BSC PAGNG: STOCK PSECTOR MW ATLANTIS RESEARCH RAMC: B Total Equities& Options $4.567,268 5123.221 TOTAL EQUITIES $4567.268 $123.221 YOUR PORTFOLIO HOLDI P4GSESTIMATED ANNUAL INCOME 5139.090 YOUR PRICED PORTFOLIOHOLDINGS 55.114.479 he. Swan Scones On on Ansa Ora, WM luxe" NW Vas 112014149 JEFFREY EPSTEIN STATEuEs1 PERO> Are 1.2005 is/10u0.., Are 30.2005 steCusT swag" TAXPAYCR MAWR on Fie LAST STATniewr May 31.2006 07.01.01/10012 001 WOW EFTA01324662 0 -n C in r 806SSEOCIN9- ANGS IS IJ 00 8 BEAR STBNRNS OFNCE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. Ma Madsen Avenue New York. New Yak 10179 6>2 Transaction Detail MONEY FUND ACTIVITY MEE I/ODAY IPASSACTON COISCRIPIIM SIMPOIJOISP MAIMS PRICE VAT STATtiena OttlIT AvOtall SW/ 31.2005 MAXI MOUNT 06/01/05 OPENING BALANCE 52%589.37 06/01/05 DOADEND DREYFUS CASH MANAGEMENTCL A wsimmou. SHARES 1.268.21 MONTHLY DIVIDEND 06/01/05 REINVEST DREYFUS CASH MANAGEMENTX1 A DION 1.268.21 1.268.21 INSTITUTIORAL SHARES ONDEND REINVEST 06/07/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A DIC0( 19.074 1.0000 19.074.00 INSTITUTENAL SHARES 06/15/05 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 1.279.82 1.0000 1.279.82 NSTITIMOtal. SHARES 06/30/05 CLOSINGBALANCE 547211.40 TOTAL CAMEO Isft0 is as vs/0r M.40 summit,/ Elar Mrs Skirts Ca One IAssiits, Cruv Muttt Isms's, . New se( II 2014149 JEFFREY EPSTEIN STATEsain Fir= June 1.2005 114t0Q3ii lune 30.2005 sCcouST rixASER twAYIDS KASSEIt 5.21422.03 51.268.21 DIVIDENDS DATE OlISCRIM3si SYMOUCLISP 011iMiff IGIEM KM NOUN Offlir AMOUNT 06/07/05 06/15/05 JOHNSON& JOHNSON MC 05/17/05 PAY 06/07/D5 PAN PACIFIC RETAIL PROPERTIES arc REC 0527/05 PAY 06/15105 JNJ PNP 57.800 436 0.3300 0.5900 1%074.00 257.24 027 OTED1/00:14t42 cot NNW EFTA01324663