CONFIDENTIAL SDNYG1,0034E922

Statements CONFIDENTIAL SDNYG1,0034E922 EFTA_00222614 EFTA01260223 C.S.APSO rnitouen ils AKTIAT On° DJ'S CARP to I8 IJ IJ Is) T4iNROUNO0 EZ6RIEW-M-ANCIS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Sear Stearns I Co. Inc. Newt New York 10'79 POCLI Tory 112014059 EPSTEIN INTERESTS ACCOUNT ERCUTIVE ZICHERMAN.IRA HUMOR VISIT OUR MBSITE wem.beresteams.com What's In This Statement Financial Summary 3 IIII IIIIIIII11111111111111rIttl4rlrrlrlllrrltl.IIIllrll,I EPSTEIN INTERESTS STATSALenir Peso= TARLOWn ACCDALT MASER TAXPAYER Amen LAST STALE JENT DOCOTTOM 1, Me crecemme 31. 2004 On Tde remember 30. 2004 Your Portfolio Holdings 3 DID 12/26/91 Transaction Detail 4 JEFFERY E EPSTEIN & MARK L • Fund Activity Your Messages 5 EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Your Portfolio at a Glance MONEY MARKET FUND BALANCE 829.424 Market Value of Your Portfolio Cash ("lent INIIMMIIIM11111 NET EQUITY OWE PERSOD S829,424 NET EQUITY IASI STATEMENT 828.308 CHANGE SINCE LAST STATEMENT 1,116 Tit MW Peal *worn:fp wonNe winos PAN fa i4 dA. Po MI Vey, 0 Sown.. pal Pa Net Pear MP Piret There are no 'Stop Loss' orders or other pending b or sell open orders on file for your account. Peals new Pm etyma or nonfatal I4ww1 aYAA ISMS w dellond On.ix WY Is ant IVAN* d On. la Ibtiolls N.Y. ItIONIOL Curren market vakw fast statement's nearer value 1829.424 suave SicIlls urinary b rtt PfOrriltbeel papaws my. LI Y cy. rated s W Llioneft YRS slot/met VoJd be meant,' kr yap maps a• woo We foL "%Rai RIenrierfn 077 01 01,05:09, Is Wt Important Massage any Mformation riven:Trig 2004ntoest. dMdends, rriscelbneous LOICOMO. gross proceeds orirel issue discount is requie:1 to be Tweeted to the IRS for this account. a Consolidated Form 1099 will be mated to you by January 31.2005 or a 1042Sby March 15.2005. '.47 EFTA01260224 CtLARZO THIWUCal ns wWµr OYMED 9.10SOMAY asset 201 1434 EPSTEIN INTERESTS (-) 0 z m 0 m z H r VZ6617£00 -O19-ANGS IJ IJ IJ STATEMENT BACKER IS PRINTED ON THIS PAGE 02? 01/01R6.00.18 001 V1167 EFTA01260225 0 z ii C in zJ r SZ66PEOCIA19 -ANGS OFFICE sERvicor, YOUR ACCOUNT BEAR it` STEARNS of ,C179 3 en Cash Flow Analysis en POMO Income Summary INS GRCO WAR 10 WI Opening Balance 50.00 Ditidends 1,115.84 8.614,72 Money Fund 1,115.84 Total 51,115.84 $8614.72 Amara Credited 51.115.84 Money Fund -1.115.84 Portfolio Composition Amount Debited $.1,115.84 Cas/VCash Equhelent 829.424 Closing Balsa $0.00 Total $829,424 Your Portfolio Holdings CASH & CASH EQUIVALENTS ceSemeTca snaeoucusp DREYFUS CASH MANAGEMENT -CL A DICn INSTITuTKout 01411£5 ESL 30 OAT AVG YIELD 2.0100% TOTAL CASH 8, CASH EQUIVALENTS OUMITT/ 829.424.02 /WRIT BpVATID CJRIMPII PRICE YYUt AS LAL INCOME MD Ile 1.0000 829.424 14.100 1.7000 5829.424 514.100 027 01001/06.09 .10 031 CLEARED 110.0uai ITS YMOLLY &Mien SUISIDLAWe Vert 11301/3•59 EPSTEIN INTERESTS STATEllehl Pelt/00 December 1.2004 THROufiri December 31.2004 ACCO/AiT NviaSER TAWAVER MAMA On Fie LAST STAR/Ana NOkernte 30.2004 Your Portfolio Allocation Cash a EqulialenI-I 100% Lhltadie lesaa abaft 0401 bans awns ral nail name The aleeasal pmorIbps 4 erne Iron he WM. maim nua' ‘naa Clam ''397 EFTA01260226 rn I8 b.) IJ Is) 0 -n C in r 9Z66PEOCIA19 -ANGS BEAR STERNS OFFa SERVICING YOUR ACCOuvr Bear. Stearns & Co. Inc. New York. New Yak 10179 4 e s Your Portfolio Holdings (continued) EQUITIES Equities & Options Independent. third-party research on certain companies covered by the Fern's research is avaaable to customers of Bear Stearns at no cost. Customers can access this research at winv.tearsteams.com a can call to request that a copy Of this research be sent to them. DESCRIPMer BANPMS SA-SPONSOREDADR REPSTG 6 SER ISIS Total Equities& Options TOTAL EQUITIES STMEICILCUSIP SPEW rat TYPE CASH 04-1001TT 20.000 race Unixted WPM MUM/ CURRENT VALUE ANICAL MOVE LTELD rq SO SO SO SO YOUR PORTFOLIOHOLDINGSESTimATE0 ANNUAL INCOME 514.100 YOUR PRICEDPORTFOLIOHOLOINGS 5829.424 Transaction Detail MONEY FUND ACTIVITY DATE VOW ILLAMEACKed 12/01/04 OPENINGBAIANCE ILESCP.DON 4,1410I/CUSIP OLAUCMY Ctleetb TPRO443PI ITS vALOLLV OAPS) svesemy Rev. Stearns Searles 4•4 yen 11201.1559 EPSTEIN INTERESTS STATWCHT 111000 TIIROLCH December 1.7004 Detente 31.2004 ACCOUeT re-44ER imPsvEA µMM Cti rue LAST STATEVEC blener-ber 30. 2004 OM MOCK, Cal /IT LAIOUNT 828.308.18 120104 DMDEND DREYFUS CASH MANAGEMENT -CL A DaSIBUTIONAL SHARES MONTHLY EMEND DICOC 1116.84 027 01.01P4Ster 1 e COT 'IT EFTA01260227 C) 0 z m C m zJ r LZ66PEOCIA19 -ANGS BC/1R STEARNS orria SERVICING YOUR ACCOUNT ayriasork 10179 Say Transaction Detail (continued) MONEY FUND ACTIVITY (continued) O211 vow 114/215./C110.1 11.2061.1101 SOWCUCUSIP ounany PREZ OM MOM CROW mown 12/01/01 REINVEST DREYFUS CASH MANAGEMENTCL A CCU 1115.84 111514 INSTITUTIONAL SHARES DMOENO REINVEST 12131/0/ CLOSINGBALANCE 829.424.02 TOTAL $1.115.84 51,115.84 0240•0 2020/214 as IM.Cou, gee Suleture Ada Smart 11201-1050 EPSTEIN INTERESTS STAT0.0042 PERKO Decent, 1. 2034 71/2O..c. December 31.2034 ACCOLNY rweeFt TAXPA,112 WAWA On NO VET STATDINT Nonfat.: 31). 2004 Your messages 11:€? As part of the National Association of Securities Dealers (NASD) Investor Education Program, you may obtain information on the NASCrs Public Disclosure Program by contacting the NASD at telephone number (800) 289.9999 cc via the Internet address which is www.nasdr.com. In addition, a brochure explaining the Public Disclosure Program is available from the NASD upon request. STOPI End of Statement 02/ 01001/C4:D9:1S 031 EFTA01260228 TZ EI C m r 8Z66VEOCIN9 -ANGS I8 IJ O IJB&W STMRNS OFFICE SERVENG YOUR ACCOUNT Hew Stearns & Co Inc. New Yoh. New York 10179 ACCOUNT EXECURCE aCHERMAN.IRA TELEPHONE ■ %SIT OUR WEBSOF WeeVellearStearnS.COM What's In This Statement Financial Summary 3 Your Portfolio Holdings 3 Transaction Detail 4 Fund Activity 4 Your Portfolio at a Glance MONEY MARKET FUND IIAMNCE 828.308 Cam & tqavalent NIT SWOTS TIIIL MUDD 5828,308 NET EOUDY LAST STATEMENT 827.146 CHANGE SINCE LAST STATEMENT 1,162 Ti week. etas cab at nay (tweed reams ret we me Seed me Teld VW S Sore. are Ms ten teat This Nem There are no Stop loss' orders cr other pending buy or sell open orders on file for your account. Mm wet arry vierci a minnow t Mien a yea mare la mewed me. Clem teens ! • iv as. b Cain Somme at a.. Sr.m Smote Seth. eV, II I4wA. il IIIIII II 11111111111 11 EPSTEIN INTERESTS DID 12/26/91 JEFFERY E EPSTEIN & MARK L EPSTEIN & WILLIAM ELKUS TEES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022-6843 Market Value of Your Portfolio Calm =Del Valla On Last statement's MUM% value $828.308 3327,146 0.2.02D 114•20001 la Witter 004440 SUOSIWAv lea 4 Seserni Salem POMP" Kem 201.3850 EPSTEIN INTERESTS STATP.Eir PERM* October 30.2004 114,02004 tiaftriber 3D, 2004 I.CCOust WMeelt TM AVIR P&A1M Oa Fre LAST 51810,01? October 29.2004 SkiTie urnnai2 rat eine:mei milieses et. In eat litenlee little Coati**. TM nietmen Mead be reatite let Sr itleerte See Milne see In Micital dames 027 1),0,04.14:42 001 101652 • EFTA01260229 C.V,010 nifiardm WHOLLY 00040 SLAWOLARY Mar. 904.76 Soal0n Ca SIPMPOIRIPAs. EPSTEIN INTERESTS 2 rn 8 IJ IJ IJ (-) 0 z m cim z H r 6Z6617£00 -IND-ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 12201/01:14A2 COI %21122 EFTA01260230 rn IJ 0 z ii C in z r 0£6617£OO -IND-ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Beer Steams & Co Inc. NOW York. New YDIC 10179 3 cf 5 Cash Flow Analysis Income Summary 49 PaCIO THISITISCO WAR TO OAT( Opening Balance $0.00 Dividends 1.161.83 7498.88 Monty Ravi 829.398.07 Total 51 18143 S7 498 88 Amount Credited 5829.398.07 Maley Turd -829298.07 Portfolio Composition Amount Debited 5-829.398.07 Cash/Cash Ecarealent 828.308 Closing Balance MOO Total 3828.308 Your Portfolio Holdings CASH & CASH EQUIVALENTS C4SOSPTON mecums► DREYFUS CASH MANAGEMENTCL A C4C0 admUnONAL SHARES EST. 3o DAY AvO viELD 12400% TOTAL CASH & CASH EQUIVALENTS WAIMTY 828.30818 SINTER MOM CURRENT PRO vM AMAX. SCOW VICO pa 1.0000 828.308 13.253 1.8000 5828.308 513.253 CLEARED nette..14 ITS viNtr-Lv coAram summon' 844.Stans540.inin . Snow,. xe. YVI II201-3559 EPSTEIN INTERESTS STATDAPC IM MO October 30.2004 714004.4s Noebor 30. 2004 ACCOma MAW TAIJAnn numbest On Flo LAST roarer Woke 29.2004 Your Portfolio Allocation Cash A Egria 100% Untie, Kean Pea, Coe: ban:* Nv eat *wk.. wiles The Alvan rerceVine a feting Yen tie 'netts meal vale et 'ea gaited 120104:14:42 OM veSSA EFTA01260231 0 m C in r TE66PEOCIN9 -ANGS BEAR STEARNS OFFICE SERVICING 'NUR ACC.0'.."T Bear. Stearns & Co. Inc. WAWA , O'79 CLEARED netx.-0m rrs 91.0.u.r Owwto SUILSOARv Best. Sun Smelts On Ili EPSTEIN INTERESTS 4 of Your Portfolio Holdings (Continued) EQUITIES Equities 8 Options Independent, third-party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost. Customers can access this research at vmvr.bearsteams.com or can cal no request that a copy of this research be sent to them. CISCRPTON BANPMS SA-SPONSOREDADR REPSTG a SER L SUS Total EquitieS0 Options TOTAL EQUITIES SO 59ABOUCL.11". SPIER ACC CASH Waal Worm WILE A.0/ UAL INCCVE 20.000 unpriced SO SO 81RTEMEKT PERI93 Watt 30.200E THROuclil 213..99249 30.200E ACCOunrt PAMBER WEE TAXRAvrR 9.106ER LAST STRIDANT October 29.200E itS1WATED CREPT 9Eto YOUR PORTFOLIOHOLDINGSESTIATATED ANNUAL INCOME 513.253 YOUR PRICEOPORTFOLIOHOLDINGS 5826.308 Transaction Detail MONEY FUND ACTIVITY DA DESCRIPTOI OPENINGBALANCE 827146.35 $11901XUSP CLIANtar SO MCC Cal /Miff Otte AiCurt 10/30104 11/01/04 DIVIDEND BEAR STEARNS PRIME MONEY FUND ItSMn MOP/MY DIVI)END 1,089.89 11/01104 REINVEST BEAR STEARNS PRIME MONEY FUND DivIDEND REINVEST 8.5140( 1,089.89 1,089.89 027 11A)1/01:14:42 001 EFTA01260232 -n C in z -H r .Z£66PEOCIA19 -ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT N Y Ycrk 10179 5>s Transaction Detail (continued) MONEY FUND ACTIVITY (continued) wrt AWAY TRIMACTION DIESCRIPION MAKIJCUW SIAIEWE/./ PtRCO 0410ber 30.2004 0ffiou04 WM/kW 30.2004 ArOOt M. TAWAYER %NKR Cfl Fit WT STATB/DIT OCiObil 29.2004 Ayala Cl=lr MOM 11/03/04 BOUGHT DREYFUS CASH MANAGEMDIT-CL A OLD 828.236.24 1.0000 828236.24 INSITTuTIONAL SHARES 11/03/04 SOLD BEAR STEARNS PRIME MONEY FUND BS&C -828.236.24 1.0000 82223224 11/03/01 DNIDEND BEAR STEARNS PRIME MONEYFUND BS& 7124 REsCuAL ONIDENO 11/04704 BOUGHT DREYFUS CASH MANAGEMENT -CA. A OICD 71.94 1.0000 71.94 INSITTUTIONAL SHARES 11/30/04 CLOSINGBALANCE 82230218 TOTAL $.929.398.07 $829.398.07 CLEARED THROW., ITS ?MOLLY 04140 SIAISIDV4tY Ns net 112014419 EPSTEIN INTERESTS STOP End of Statement 011 IV/100442 OW %USA EFTA01260233 -n C in r E£66PEOCIA19 -ANGS IS IJ IJ IJ IJBEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Ina New York New Yak 10179 at THROIA3/4 rte VAIOLtY DRAM SUSSOARY at 712014889 EPSTEIN INTERESTS ACCOUNT EXECUTIVE ZICHERfAAKIRA STATEMENT PERO() Onober 1.2004 TELEPHONE ■ THACLALH' Wooer 29 .2004 VISIT OUR MOSHE wave.bearsleams.crin What's In This Statement ll... renown Haw • X72 TAXPAYER Ham On Fre Financial Summary 3 EPSTEIN INTERESTS LAST Enver September 30 2004 Your Portfolio Holdings 4 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN & MARK L Fund Activity 5 EPSTEIN & WILLIAM ELKUS TREES 457 MADISON AVENUE 4TH n.R NEW YORK NY 10022.6843 Your Portfolio at a Glance MONEY MARKET ROM BALANCE 827.146 Can 6 ERIX•atra NET eon nes PERIOD 5827.146 NET EQUITY LAST STATEMENT 826.201 CHANGE SEa LAST STATEMENT 945 -Ns gatTalo — warren warm sown.* Par leo 1.4 nbaal hit* NM RYA It Enna era re YR laay Tin Pieta There are no 'Stop loss' orders or other pending buy or sell open orders on file for your account. Pam. d cApas a —. Ititnd la saws, ya• 4C aLL *rho 12 Owe Seven Yew tes•••• Swan Col. 8407. Mt !MISS, Market Value of Your Portfolio 5827.146 5626.201 Current menu vale MI Lest statement mute value Ss715 ;nary 4 RA rroweetna,parpeses sty. K reran St lax atanet. Till Strte tan web b reantd lx yad We. Soo roans .446 kw /martin Isfarben 027 141004.11 8,) CO. 'a64 EFTA01260234 0.CARC0 DROWN ITS VOIOLLY StlE0 SIASCWIT assert 11201009 EPSTEIN INTERESTS 2 (-) 0 z m ci m z H r b£6617£00 -IND-ANGS 8 IJ IJ Is) Is) a STATEMENT BACKER IS PRINTED ON THIS PAGE DZ7 103004:11:50 001 VIM EFTA01260235 0 -n C in z BEAR STEARNS SERVICD/G YOUR ACCOUNT ilitallaiOrk 10179 3 as Cash Flow Analysis TIC PERIM Income Summary PIROD YEAR TO DATE Opening Balance $3,458.06 Ohedends 945.71 6.337.05 Money Fund 945.71 Total $945.71 36.337.05 Amount Credited $945.71 Money Fund .4.403.77 Portfolio Composition Amount Debited $4,403.77 CashfCash Equivalent 627,146 Net Cash Activity -3.458.06 $827,146 Closinnelance $0.00 Cash Balance Summary noon =NC Cash 3.458.06 0.00 r Net Cash Balance $3.450.06 30.00 SE66PEOCIA19 -ANGS 027 103004.11 10 30' oxot[c. 774409074 WHOA" CM,140 SUSSEENARY IE 11201-3859 EPSIEIN INTERESTS STAttliCki PF9C0 CXE077e. 1. 2004 TviltOVOM Weber 29.2004 ACCP.MT POUBER TAXPAYTA NweeR Cn Fit 64T STATS9•97 Septerntor 30.2004 Your Portfolio Allocation UmNOKI "Mons 4s $t es.). Mara *rote etart resew 'To - p_I m.., ye *soot 'WHO el co' [IMO. EFTA01260236 0.4.4400 115R0tXim ITS 51910U.v 099540 LDS-05R 0 -n C rn r 9£66PEOCIA19 -ANGS IS IJ IJ IJ 00 BEAR STEARNS OFFICE SERVICING YOUR Arrn097 iEfilialirEIS Inc. oYrkN Yod 10179 4 crS Your Portfolio Holdings CASH & CASH EQUIVALENTS 004404100 Svisea/CuSi> BEAR STEARNS PRIME MONEY FUND BSS ONIDEND fa:VESTED EST, 30 DAY AVG DELO % TOTAL CASH & CASH EQUIVALENTS 044.4nEr MARKET ESTWAM) 0.19511.91 UMW 114200 MEW 0/2 827.146.35 1.0000 827.146 12.986 1.5700 $827.146 $12.986 EQUITIES Equities & Options Independent. third-party research on Certain companies coveted by the Firm's research is av request of Bear Stearns at no cost, Customers can access this research at mrestbearsteams.com or can cal to that a copy Of this research be sent to them. ga WARM EST3M1110 CUR200 DESCR911011 511/61X9512 not QUANTITY PRIM VILUI AANJM.12950Ml VELD oki 8ANPAIS SA-SPONSOREDADR 8PI13Y CASH 20.000 untoced REFSTG 6 SER L 5115 Total Equitt& Options SO so TOTAL EQUITIES $0 SO YOUR PORTFOLIOHOLD I NGSEST IMATE 0 ANNUAL INCOME $12.986 YOUR PINCEDPORTFOLiONOLOINGS 5827.146 027 issArY 112014459 EPSTEIN INTERESTS STATEMENT Peso° WOW 1. 2004 7141051014 091.0905 29.2004 ACCOLAN1T HAMER 7/005AYER NJUa On File LAST STATEMENT 50ptember 30.2004 10404.4:1140 001 V464 EFTA01260237 CLEARED 1144Weri rrs vewcar Comio SLimmARY ITI 8 b.) IJ IJ IJ v:2 C) 0 el C in z -H r LE66PEOCIA19 -ANGS BEAR STEARNS OFFCE SERVICING YOUR ACCOUNT Be Steams L Co Inc. Y York 10179 Ws von 11201.3SS? EPSTEIN INTERESTS OCtOber 1.2004 amber 29.2004 On FI 5 a5 Transaction Detail sTATWENT PER= TstiOuCH acoourer Nuwe.ER TASTIER !MASER MONEY FUND ACTIVITY LAST STATEuDiT September 30.2004 WORT TRINUCTON cescanos STIRIOUESSIP GUMMY PRICE OHM MECUM CREDIT MOUNT 10101/04 OPENINGBALANCE 822.742.58 10/01/04 WNW) 10/01/04 REINVEST BEAR STEARNS PRIME MONEY FUND MONTHLY MONO BEAR STEARNS PRIME MONEY WM) BEAUX BS4 945.71 945.71 945.71 10t21/04 BOUGHT DIVEEND REINVEST BEAR STEARNS PRIME MONEY WHO B5S 3.458.06 1 0009 3.458.06 10/29/C4 CLOSINGBALANCE 827.146.35 TOTAL 5-4.403.77 5945.71 ••STOPI End of Statomen 027 IOWAN:11SO COI EFTA01260238 O II 5 m NET CREDIT BALTACE 3.458 CM A RAWalent 3826 20, 5825.326 MONEY MARKET FUND BALANCE 822.743 MI Curren mercer vat* Last SteterrerWs mete value MIT IOW 1ws PitlbOD 5826.201 r NET EOUITY LAST STATEMENT CHANGE SINCE UST STATEMENT 825.326 875 BEAR STEARNS CAME MOCKS YOUR ACCOUNT Seer. Steams & Co. Inc. New Ton New York 10179 ACCOUNT EXECUTra ZICHERMAN.IPA TELEPHONE VISIT OUR WEBSTIE vmvebearslearrn.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 5 Fund Activity 5 6 Your Messages Your Portfolio at a Glance II lllll I1,I EPSTEIN INTERESTS DTD 12/26/91 JEFFERY E EPSTEIN & MARK I. • EPSTEIN & WILLIAM ELKUS BEES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022.6843 Market Value of Your Portfolio 8£66PEOCIA19 -ANGS molds ENhan Eve Er nom nest manse emirate' Mae Nom ow Van M SOUSE Foot nis how There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Pita. my,/ oro err al L/OCk. Or /Kat •NIValeO as forrreor: /0 ro/ I./C Or reit /a Curl Proms mew. &Son Stamm Con.. INN2mr. NY INA:1-3419 0.CAREO IMAGJUM rte NICELY ONNE3 SISIENOARN lamNem YOrt 112014850 EPSTEIN INTERESTS STATEMENT PER)00 September 1.7004 nosst..cm Section:ter 30 2004 ACCOUNT MASER IllllllllllllllllllllllllR TAAPAYEE MAWS On no LAST STATEMENT Aug./SI 31.200A Tro sammYMM• mImEmlemt >nose DIVA II nal Tune Unlit 6XLeitIE StittelSCIR SONO be mowed a ,tir retells se ramie We Or 1/Matarl aNairunc• 1301040749 on GO At6I EFTA01260239 CaARZO TIROVC•11 VenDLLY CVrv[P StatSCIAR? assict • 1?01.1959 EPSTEIN INTERESTS 2 (-) 0 z m ci m z H r 6£6617£00 -IND-ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 1001 /0011/•40 001 7051 EFTA01260240 rn I S IJ V.) 1.0 IJ 10BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT ailikerk 10179 3 et 7 Cash Flow Analysis DES RECO Income Summary DES P11100 YEAR TO Dolt OpeningBalance 53458.06 Oniclends 874.51 5.391.34 Money Fund 874.51 Total 5874.51 55.391.34 Amount Credited 5874.51 z -n Money Fund Amount Debited Closing Balance -87441 5-874.51 53.458.06 Portfolio Composition Cash/Cash Equnalem Total 826.201 5828.201 C rn z r 01766PEOCIA19 -ANGS Cash Balance Summary OPERI%C. CLOSIIS Cash 3.458.05 1458.06 Net Cash Balance 51458.06 51458.06 CLEARCO THRO.C.44 T3 One40 SUBSIDARY vM 112ol-asse EPSTEIN INTERESTS STATENEKT PIR40 SORIITEROr 1.2004 TRRauc. Sepernetee 30.2004 ACCRA", WRIER Mlle TAXPAYER MAWR OR He tar s7A-cworr Auvu 31.2004 Your Portfolio Allocation 100% Undaa COW* Ore* Rd! %Ara /R04. VCR mine ...RR T. Roca. Reno. Crorip4 hi, Re RAO* roeo *MR of Ty, RaRob 027 104104:940 WI 1143 EFTA01260241 Waft) THAOAM in 55.0535, OMEO SAMOAR9 m C in r 14660£00 W9 I8 IJ IJ IJBEAR STERNS OFFICE SERVICING YOUR ACCOUNT Bear Stearns Inc. lailigork 10179 407 Your Portfolio Holdings CASH & CASH EQUIVALENTS CISCIIMEN CASH BALANCE SSIMOUCUSI WW1 MTN= CURRIDer 01.553313 VALIX MMIAL MOSE YIELD CIO 3.458 N Vat 12)1 3359 EPSTEIN INTERESTS r AMMO!' PtreCO 34333Mbtt 1, 2004 MRCVSS SOMmtor 30.2004 ACCSAAT simbEri A/39mM KageiR On fie 3543 STAMM., Augast 31.2004 BEAR STEARNS PRIME MONEY FUND EISSON DIVIDEND REDNESTED EST. 30 DAY AVG VELD 14 TOTAL CASH & CASH EQUIVALENTS 822,742.58 1.0000 822.743 12.094 1.4700 5826.201 512.094 EQUITIES Equities & Options Independent. third-party research on certain companies catered by the Firm's research is av of Bear Stearns at no cost. Customers can access this research at vmw.bearstearres.com or can call to request that a copy of this research be sent to them. ACCT 5WIICCI IS/WARD GUMMI otscienoN snaiOUCUS• UW earn Mel MU( ANIRIAL 9403113 Atto IN BANPAIS SA-SPONSOREDADR BPIBY CASH 20.000 Unpriced REPSTG 6 SER 15X$ Total Equities& Options SO SO TOTAL EQUITIES so SO YOUR PORTFOLIOHOLDINGSESTI MATED ANNUAL INCOME $12.094 YOUR PRICED PORTFOLIOHOLDINGS $826.201 027 100104.07'49 031 1163 EFTA01260242 41 C rn z -H r Z1766PEOCIN9 -ANGS I8 IJ IJ IJOFFICE SERVICING YOUR ACCOUNT BEAR Inc. STEARNS NN 5 e•/ Transaction Detail STAMEN! MHO Sept.NON 1.2004 ThRomen Soptiirntw 30. 2004 ACCOUNT WARIER TAXPAYER moat* On Rile MONEY FUND ACTIVITY DATE LAST STATEMENT Amps 31.2034 uoitAT 'Itv(MOKIN EESCR0MER STIM0INUNP WNW/ OM ate CREW ;MOM 09(01/00 OPENINGBPLANCE 821,888.07 0901/D4 DIVIDEND 04001/04 REINVEST BEAR STEARNS PRIME MONEY FUND MONTHLY CANDEMD BEAR STEARNS PRIME MONEY FUND 851/11 8S1. 874.51 871.51 871.51 09/30/04 DPADEND REINVEST CLOSINGBALANCE 822.742.58 TOTAL 5474.51 $874.51 CLEANED T9 C44 ITS %wow( ome tuna: NY Bar. San Swstar Coe Metnxeci, C411941 11440 vet 112053050 EPSTEIN INTERESTS 027 '00130107 49 O1 .63 EFTA01260243 rn IS b.) IJ IJ C) 0 m C in r £1766PEOCIA19 -ANGS STURNS OFFICE SERVICING YWR ACCOUNT BUR N Y N Yea 10176 6 e Your messages Bear. Steams Securities Corp. Net Capital and Net Capital Requirements: At May 31. 2004 and July 31. 2004. the Company's net capital of approximately 53.6 billion and 53.6 billion was approximately 6.8% and 6,5% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately 51.1 billion and 51.1 billion by approximately 52.5 billion and 52.5 billion. all respectively. A complete copy of the Bear, Steams Securities Corp. Statement of Financial Condition is available on the web site wenv.bearsteams.com. Alternatively, to request a free primed copy please call • toil free 1.866.299.9331. CIGAR TIEROLOK RS VAICtLY OWNED NAISOAAN IS Stems Sastre. Nevi wic "20 MS EPSTEIN INTERESTS STATVAINT EVROS SOESE4404, 1, 2004 041.0CH StEarnbEr 30.2004 ACCOUNT st/MbEft TAXPAYER wi.era% On rte :As STATEMENT August 11.2004 Securities and other assets in your account are the firm's collateral for any margin loan made to you. If the securities and other assets in your account decline in value, so does the value of the collateral supporting your loan, and. as a result, the firm can take action. such as issue a margin call andfor 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 SeCusitieS or other assets without contacting you. • You are not entitled to choose which securities or other assets in your accounts) aro liquidated a sold to meet a margin call. • The firm can increase its 'house' maintenance margin requirements at any time and is not required to provide you advance written notice, • You we not entitled to an extension or time on a margin call, 027 10/01.04:07.49 001 VI63 EFTA01260244 CaatE0 Tetouan es csocED SISSO‘MY OFFICE SERV1CNG YOUR ACCOUNT O -n C in z r trI766PEOCIA19 -ANGS BEAR STEARNS 10179 7 a 7 This statement is provided to explain Bear. Stearns & Co. Inc.'s (*BSC) payment for order flow practices. BSC routes a majority of orders for customer securities transactions to the primary market for such scarifies. Orders may also be routed to other market soviet vendors that assure executions pursuant to complex inathernetial formulas at better than the national best bid or best offer (NSW). BSC receives no cash payment or other consideration 10r such order routing other than favorable executions or executions of limit orders at no ackfitional charge. ';STOPI End of Statement am 11201.340S EPSTEIN INTERESTS semovett Pekoe SCclertibe• 1.2004 r.4404/CM snxenthot 30.2004 ACCOUNT waist IS ...)(1AVEll MAW On CIO LAST STAID/CM SAW 31.2004 car Pursuant to SEC Rule 11Act 4. please note the follows g: Bear, Steams & Co. Inc. will post its quarterly routing statistics at the following web link: httpdhwrw.bearsteams.com. Click on incfrvidual 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 so months from the time of the request. Specifically. you may request the identity of the venue to which the identified orders were routed for execution, whether the order was directed by you to that venue, and the time of the executions, if any, that resulted from such orders. 027 10/010401 49 001 EFTA01260245 allAPSO THIROUGP4 <AVOLLV Gk SEO tOttab•A• m 8 IJ 1.4 0 -n C in r SP66PEOCIND -ANGS BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Beat, Steams & Co Inc. New York. Now York 10179 ACCOUNT MOAN/ TELEPHONE VISIT OUR WEBSOIE DOIERMANTRA wew.bearsteams.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail Fund Activity 5 Your Portfolio at a Glance NET CREPT BALANCE 3.458 MONEY MARKET FUND BALANCE 821.868 Cash NIT IQUITY TNR PEM00 $825.326 NET MUM' LAST STATEMENT 824.564 CHANGE UWE LAST STATEMENT 762 mi. Imo*, Satan avers» vre/ale saran the on to: strew her Taal Vika ot Lanes OM IS V< Fart,' Ths VOX. There are no 'Stop Loss ciders or other pending buy or sell open orders on file for your account. '0001 ea/ dilator vit•.•0.101 al Vets v eta.. vista n alevean u <v.< On. to C Dr ant le Clot Santis lbw twit Sena SSW^ My 112014•511 EPSTEIN INTERESTS DID 12/26/91 JEFFERY E EPSTEIN & MARK L EPSTEIN & WILUAM ELKUS TTEES 457 MADISON AVENUE 4TH FIR NEW YORK NY 10022-6843 Market Value of Your Portfolio 1825.326 $874.564 Cumin market ilia Lost statement's motel value km Stem Wan OM Gee *town Cent Mat EtaUri. Now M 201-1469 EPSTEIN INTERESTS STATIMINT MOOS 3.1/1 31. 2004 THROWN August 31.2004 ACCOUNT 1.0.0a TA1SAYE. HAIFA On No LAT POMO/7 JUy 20.2004 gmvv. entry • by inaminotat ;Inner arN. e IS at Meted al a In <10avtat. 7114 ttstenatirl V1CSO to /tt yet MSS& SA Navas IMO Sec Irgenall aterstan 027 04.0104.00 SI OM SW EFTA01260246 CLONED i1Se015M rrl vmaav "AWED SWUM.lty law.iatans Smote Ca Orr Matto& Crow NMI York 112014051 EPSTEIN INTERESTS 2 et $ 0 0 Tz TI C in z -H r 94666£00 W9 IJ V.) Is) 0000 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 000104.C•11 CM EFTA01260247 MARCO THROWN R9 WHY,xY DATED SIAISIOARY OFFICE SERVICING YOUR ACCOUNT BEAR STDIRNS New Y rk New vrd< 10179 3 on Cash Flow Analysis nes now Income Summary THIS fl YEAR 70 DATE °polling Balance 13.458.06 Cividerds 762.37 4.516.83 Money Fund 762.37 Total 5762.37 54.516.83 Amount Credited 5762.37 Matey Fund -762.37 Portfolio Composition -n Amount Debited CloSingEtelanCe $-762.37 53,458.06 Caslvtash Equlvakot Total 825.326 $825,326 C in z Cash Balance Summary CAMPO CLOSEE r L1766PEOCIA19 -ANGS ERE 11201.3559 EPSTEIN INTERESTS STAMMER TERM lt.tr 31, 2004 110101.401 Atent 31. 2004 ACCOWT MAW TAXPAYER ,&n. On Fib uurr STATEMENT Jut, 30. 2004 Cash 3.458.06 3.458.06 Your Portfolio Allocation Net Cash Balance 53.458.06 $3.458.06 027 0.0104 CA 31 001 '.PsEaud oplore RARE o•Te tars vote ATER mow attan” D•rtetap 0•44.4 'WI, ?V Oosevie TPRO v•A• tl RA.. %AO* VOW EFTA01260248 -n C in r 81766PEOCIA19 -ANGS BEAR STMRNS OFFICE SERVICING YOUR ACCOINT alataine. Mar10179 4 ce 5 Your Portfolio Holdings CASH & CASH EQUIVALENTS orsomnow CASH BALANCE 511AKU:113.9 WATT MUM CANA OLUYITITT faG vADE MAW SCOW RID Mt 3,458 CLEAREO 119t0..C.4 wreu.v pm= SISSIVARY Net yen 11201.3959 EPSTEIN INTERESTS STA•010./ PEPtgo My 31. 20C4 nolOu0s Aucysi 31. 2004 tto HT %MIMI TAYPAYelt MACCR D1 me NIT STATEWVIT My 30.2003 BEM STEARNS PRIIIE MONEY FUND MAO( DMDEND REINVESTED EST. 30 DAY AVG YEW 1.3400% TOTAL CASH & CASH EQUIVALENTS 821.868.07 1.0000 821,868 10.684 1.3000 $825.326 S10.684 EQUITIES Equities & Options Independent third-party research on certain companies covered by the Firm's research is air rs of Bear Steams at no cost, Customers can access this research at winv.bearstearns.com or can call to request that a copy of this research be sent to them. ACT 1.41MCC1 WHAM O1.O4 cocrommi SYMI93tC/59 MK CoAfilire Ma %1/4Ut ANNUle. 14C0LE ‘111.0 no 8ANPAIS SA-SPONSOREDADR BPI8Y CASH 20.000 Unpriced REPsTo 6 SCR I. SHS Total Equities& Options SO SO TOTAL EQUITIES SO SO YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME 270.884 YOUR PRICED PORTE OL !OHM.° i Nos 5825.326 021 ciao:otos 31 001 EFTA01260249 C) 0 EI C rn z -H r 61766PEOCIND -ANGS BEAR STEARNS Of TICE SERVICING YOUR ACO3tWIT Boar Steams & Co Inc. New York New York 10179 5 WS Transaction Detail MONEY FUND ACTIVITY OAR USW TRORACTION MOM= 07/31/01 OPENINGBALANCE 821.105.70 SYSIRSIXAMP CLEARED INROLOR ITS Wn0LtY ORRIS VASOARY MOP" Nag Sort '12014139 EPSTEIN INTERESTS STATEMENT prom Jun 31.2004 ThROUnn August 31.2004 accaan MAIER O2 TAXPAYER 1414ER On rat LAST SIATEREWT AIR 30.2004 OUNRITI PRICE men .NOM CREW MIONIT 08/02/04 DIVIDEND BEAR STEARNS PRIME MONEY FUND BSI( 762.37 M0NII&Y DIVIDEND 08/02.3104 REINVEST BEAR STEARNS PRIME MONEY FUND BS' % 762.37 762.37 DIVDEND REINVEST 08/31AM TOTAL CLOSINGBALANCE 821,868.07 5-762.37 5762.37 End of Statement Eel 0401/040131 co, 1SS2 EFTA01260250 0 -n C in r 05666£00 W9 IS IJ IJ IJ 101.0 BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT V N V0dc 10179 ACCOUNT EXEGIONE ZICHERMAN7RA TELEPHONE oSn OUR WEBSITE mvotemstearrts.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 6 Fund Acthity Your Portfolio at a Glance NET GREER BALANCE 3.458 MONEY MARKET FUN) BALANCE 821.106 I IIIIIIIIIIIIIII IIIIII II I I IHI,IIIHrIIIHI Ittittli I EPSTEIN INTERESTS DID 12/26/91 JEFFERY E EPSTEIN & MARK L • EPSTEIN & WILUAM ELKUS 'IMES 457 MADISON AVENUE 4TH FIR NEW YORK NY 100224843 Market Value of Your Portfolio Cah4 EguPS NET bourn new PERIOD $824,564 NET EOUrtY IAST STATEMENT 823.942 CHANGE SAGE IASI STATEMENT 622 TY Kea Maude. M1 ggro., woo*. matifin the 44.4 rol4eSt new Tod Win el Leer Ina TN KM Ma, Th4 41.4.445 There are no 'Stop toss' orders or other pending buy or sell open orders on file for you account. Sierra .W ay a rte.n re•-••041 trerxs sio0s, W.M.Y. as Oe.ert0 b )1W . n la Clora r.4•044 M Ow, SronS &ants Gunn market name ill Lau umemeers mean Yak.. 3824.184 1823.942 GLEAM tr4R041044 ITS YSCAY DinED W. Sian Socala GYP. 04t ihocroiech tenor NM "mar 11101.:130 EPSTEIN INTERESTS STAMEN! Pfle00 JuN 1.2004 71.141OUG44 July 30.2004 ACCOuPIT KRIM TAXPAYLIt miutel On Fie UST sTAininir June 30.2004 t itil tt/TTIN II M Ithertiollirel comma et II b nel make ate is43eanst. illiterten Staid be retried fee yeti math Se mom Vi br mann irtatiert 02r 07,104:08 41 pp)/ EFTA01260251 Funi THROWS 73 W.WY-,r (Merl 361LSOWEV Re colt “;t'ra• cry. 11201.31153 EPSTEIN INTERESTS 2 as -n C in z -H r TS66PEOCIA19 -ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 07/31/04:03 41 CPI Mtn EFTA01260252 BEAR STEARNS OFFICE SERVICIVG YOUR Accoukt Y York 10179 3 Cash Flow Analysis lie PESOS Income Summary PERCO YEAR TO OAT/ Opening Balance 33.458.06 Dhildtal0S 621.75 3.754.46 Money Fund 621.76 Total S621.75 43.754.46 Amount Credited $621.75 0 z -n Money Find Amount Debited Closing Balance -621.75 5-621.75 33.458.174 Portfolio Composition CaSh/CaSh Equivalent Total 824,564 $824.564 C in z r ZS66PEOCIN9 -ANGS I8 IJ IJ 1.3 Cash Balance Summary CPEPAPt Cash 3.458.08 3.468.06 Your Portfolio Mme.'s/IBalance 43.458.06 $3.458.06 Allocation CLEMED 11103LCA ITS YMOU.Y Dw41D ILISSOVAY IItrit 112014819 EPSTEIN INTERESTS ranters PEROO July 1.2004 THAOLION July 30. 2004 sccouut ranee TAAPAY2A tAlwarA On Fie LAST STAMM-NT lone 30.2004 02/ 07/21,04:01 I COI Cash a (sunniest - 100% LAna0/0 co/en /Ws aloe sins we it grout oaat Ire Scow, onariao• clenad fir .»+.. trete Ain a/o.. ootele EFTA01260253 0 m C in r ES66PEOCIA19 -ANGS UR SIBMMS OFFICE SERVICING YOUR ACCOST Bear. Stearns & Co. Inc. N& York. New Yak 10179 4 0' Your Portfolio Holdings CASH & CASH EQUIVALENTS orsasnew CASH BALANCE snauCuSer Minn EswATED curturi Cowry Pea nue Area wow mu) re 3.458 CLELM10 4.140304 71.10u01 OmED FALSOOM Stan Semtin NAL Lev •'2O1 EPSTEIN INTERESTS sTAMME7 AMOD .11021.20)r 11.1.CAK04 10130 ?Dor ACCOLAII Walt TAXPAVAA MAW on He LAST STAMOVNT June 30, 2304 BEAR STEARNS PRIME MONEY FUND EISAN0 ONIDEND REINVESTED EST 30 DAY AVG YELO 1.'1^- TOTAL CASH & CASH EC . • 821,105.70 1.0000 821.106 9.032 1.1000 5824.564 S9.032 EQUITIES Equities & Options Independent, third-party research on Certain companies covered by the Firm's research is ave rs of Bear Stearns at no cost. Customers can access this research at vmtv.bearstearns.com or can call to request that a copy of this research be sent to them. ACC1 1AMICE7 (MALMO Oat 03 OISCRP1011 STIMCUCUSIO IWI 001731TV Pty VALE WA AL 11100111 1100 BANPAIS SA-SPONSCIIEDADR RPIBY CASH 20.0:0 urorced REPSTG 8 SER L SHS Total Equities& Opeons SO SO TOTAL EQUITIES SO SO YOUR PORTFOLIONOLOINGSESTIMATED ANNUAL INCOME 59.032 YOUR PRICEOPORTFOLIOHOLDINGS S824.564 027 07/31434.1:31 41 031 vµ41 EFTA01260254 121 8 b.) IJ IJ a+ BEAR STEARNS OFFICE SERVICING YOUR ACCOUta Bear. •Stearnsb . NC. oh 10179 alma) 1,4tOutai IAMCU.Y OVAIC3 SLIOSILICARY MSS miser% 201.3•14 EPSTEIN INTERESTS 0 41 5 as Transaction MONEY FUND Detail ACTIVITY TR14114C2011 Rearm SYYKIJCIAIP Jrn 1.2004 k 30. 2004 On FM June 30.2004 MOO AVOW STATIPAINT MOOD mama ACCOIMT NAMPA TAXPAYER maim RAT STATDer OCIff AMOUNT 110DAY 07101/04 07101/04 07/01/04 07/30/04 OMDDID REINVEST OPENINGBALANCE BEAR STEARNS PRIME MONEY FUND MICOMILY °MEND BEAR STEARNS PRIME MONEY FUND OMEN() REINVEST CLOSINGBALANCE BSMU BMX 520.4133.95 621.75 821.105.70 621.75 621.75 C in z -H TOTAL 5.621.75 5621.75 STOP End of Statemen r PS66PEOCIN9 -ANGS 027 07131 t>4.C.4141 001 VW EFTA01260255 OFECE SERVICING YOUR ACCOUNT Bear Stearns 8 Co Inc_ BEAR New York New York 10179 STEARNS ACCOUNT EXECUTNE IICHERINSEIRA TELEPHONE (212)272-1189 VEST! OUR WEBSITE owe beamteams.com What's In This Statement II IIIIIIIIIIIIII II IIIII11111111 Financial Summary 3 EPSTEIN INTERESTS Your Portfolio Holdings 4 DTD 12/26/91 C) Transaction Detail Fund Activity Your Messages 5 5 6 JEFFERY E EPSTEIN & MARK L • EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FLR O NEW YORK NY 10022.6843 m m r SS66PEOCIA/9 -ANGS I8 IJ V.) IJ SMARM NACI.X.04 ITS MCAT OAT= SUSSIDLARY 444 yon Tidenoine EPSTEIN INTERESTS STAIIII/ChT PERIM May 29.2004 TetROUGH Arne 30. 2004 Ate°RIT SL446ER Tau NEMItle Co Me LAST STATEMENT May 25. 2004 Your Portfolio at a Glance Market Value of Your Portfolio cash& (gien S1111111111.11111111 5823,942 NET CREDIT MANCE 3.458 $823.316 MONEY IMRSET RND BALANCE 820,484 MS Current MOWS VIISJO list statements market vMn NET MOM! THIS PERIOD $823,942 NET EQUITY LAST STATEMENT 823.316 CHANGE SINCE LAST STATE/SET 626 'rug setesIe inCiedes tlx ce rest uesieed seculles Int ite tot tetecied he he Taal Wes el Soar tat a% W* Nee FS" ITS Pala There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. M.N.N. Us Stinnes :tn.-mos. 5 Wit-Rao erocall4 54 detested eiSt ee Stet e et vele *Cleo. Smear. in Br Seers Sales et.", Sudo" R.Y. IISOISESS Tea inky bbl litormellos Orion try. 0 iL 10I /1010•0 Is • tat SKIM % nee •etniter took: be Mann to yar tome% Set cassia lea b flaws Molnar°, 027 07.0,104 13 31 001 Important Message Confirmaton: Unless We heir from you to the COnUary. It is CU understanding that arty free credit balances in yow account are being maintained to faoitate your IfIt006:21 to irrrot such anoints afoul) us. Yeas EFTA01260256 (WM 11ROUGR rTS vw0uv Oh1410 Cat4/...1a Oar. Stem Stand tap. 9111MONIMIL, aim EPSTEIN INTERESTS 2 a ? ril IJ IJ ts) 00 00 0 -n z C in z r 9566PEOCIA19 -ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 01.0104.10:31 001 vu? EFTA01260257 CLEANED TIACMIN ITS MACAW MAO SIASSI0lar BEAR STEARNS OITCE SERVICING YOUR ACCOUNT Bear. Steams a CO Inc. N York 10179 3 a 7 Cash Flow Analysis 10400 Income Summary MS PROD MAR TD Opening Balance 53.458.06 Dindends 625.49 1132 11 Money Fund 625.49 Total 5625.49 53.132.71 Amount Credited 5625.49 0 z -n Money Fund Amount Debited Closing Balance -625.49 5425.49 $3,458.06 Portfolio Composition CashICash Eat/erre Total 823.942 $823942 C in z r LS66PEOCIA19 -ANGS Cash Balance Summary POMO Your Portfolio Cash 3.458.136 3.458.06 Net Cash Balance 53.458.06 53.458.06 Allocation OWNS MN ♦et 112034859 EPSTEIN INTERESTS STATEMENT MIK* May 29. 2004 TAPOUGN Ane 30.2004 ACCOUNT NUGIOVI MIMS TWAYM MICR on File LAST STATEMENT May 25.2004 Cash A E0IMMCIT. — 100% L' pOdOn bron gebt tar-CO W•CO., min* .400 iV MAMA. WOYIKO A Crnd Ma M amam macre: 044/ Of row Eatble 02> 0203384.13 31 DM 31132 EFTA01260258 -n C in r 8566PEOCIN9 -ANGS anct SERvICNG YOUR ACCOUNT BUR STEARNS York 10179 Oar Your Portfolio Holdings CASH & CASH EQUIVALENTS ecownoN CASH BALANCE SymiOutuso MET EsnmATE0 wawa *many met mat AMILIAL PO tIR 3.458 BEAR STEARNS PRIME MONEY RIND BSM/OC 820A83.95 1.0030 820.484 7.631 0.9301 ONDEND REINVESTED EST. 30 DAY AVG YIELD 1.12120% TOTAL CASH & CASH EQUIVALENTS $823.942 57.631 EQUTTIES Equities & Options Ater ILOXIT (SAM CURNIM OFSCRATEIN SylifiCtiCUSP noi Clown Poi WWI MSJ*L WOW MID ryi BANPAIS SA.SPONSCREDADR BREW CASH 20.000 LInprIced REPSTG 6 SER I. SHS Total Equities& Options SO SO TOTAL EQUITIES SO SO YOUR PORTFOLIO HOLDINGSESTIMATED ANNUAL INCOME $7.631 YOUR PRICED PORTFOLIOHOLDINGS 5823.942 027 CLEARED 711O.O1 CM v.isitsr awrit0 Sueb0cARY at 20 MO EPSTEIN INTERESTS STATDArtfr co,R May 29.2004 ns:OuGN June >O. 2004 ACC0NT vaet linnient TAXPAVER HAMA On tie VS, STATOIENT May 28.2034 07,01041331 001 V1112 EFTA01260259 -n z C in z -H r 6566PEOCIN9 -ANGS IJ IJ 0,toBEAR STEARNS DUCE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. lialliork 10179 5 are Transaction Detail MONEY FUND ACTIVITY DATE wOOAY DIWSAC1)3N DaClin0N 05129/04 OPENINGBAIANCE 019.858.46 STIM0L/CUSIP CLEMeD 110000.4 rs Mere OAKD summon , WSV,;:in 112014359 EPSTEIN INTERESTS sTATErEKT nit= May 29. 2004 Twitoue, AM 30.2004 ACOWNT strain TAPAYIER ramie% 0" Fie LAST flitter Me 28,2004 0UNITY rst DENT M•00/1 01101" MOUNT 08/01/04 DIVIDEND BEAR STEARNS PRIME MONEY FUND MILO( 625.49 MONTHLY DROP* 06/01/04 REINVEST BEAR STEARNS PRIME MONEY FUND nun 825.49 825.49 DMOD/D REINEST 06/30/04 CLOSINGBALANCE TOTAL 820.493.95 $.625.49 5625.49 027 07,01.04.131, 03t VON EFTA01260260 m ci m H r 096617£00 -IND-ANGS I IJ IJ Ln IJ IJBUR STURNS OnCE SERVICING TOUR 402001IT v ore 10179 6 Your messages Notice Regarding a Change in The Statement of Interest Charges Pursuant to the "Truth-in-Lending" Rule 10 (b)-16 Regarding Short Sales And Marking-To-The-Market Effective no earlier than thirty (30) days from your receipt of this statement, we will compute interest regarding your short sales and marking-to-the market as follows: 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 borrow the same security in order to deliver it to the buying broker and has to provide Its lender additional collateral of up to 105% of the settled short market value of the borrowed securities to secure such loan. This means that the debit balance on which interest is computed will be the difference between () up to 105% of the settled short market value of such short sales (across all currencies), which shall be cakulated daily, and (ii) the proceeds of such short sales. CUM= Tasta-Cm ITS vraoux 00.740 SU9SIWAY 008 7. Sesam Sacutle• Magi" We MA 111,01.31$9 EPSTEIN INTERESTS STATUS YT PEA00 May 29. 2004 THROUGH June 30. MS ACCOUNT 712.60 TA1DAVER toWla On Us (SST STATE...ENT MM ZS. 2004 Any shat positions in your account will be kept 'marked-to-the market'. This means that periodically the balance maintained in the short account will be adjusted to equal the market value of the short securities. Securities that are priced below five dollars per share may be valued at five dollars per share fa 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 conespcodingly reduced by the drop in value. 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 Truth-in-Lending' disclosure previously provided to you remain unchanged. 027 070104.13 31 ox I.932 EFTA01260261 m ci m H r T96617£00 -IND-ANGS Ill 1,J to rJBEAR STEARNS Orr CE SERVICING TVA ACCra' Bear. Steams a Co. Inc. iv Plivi 0779 map Pursuant to the terms of the equity research settlement that was entered into by Bear Steams and other major investment banks, we will soon make available to our customers, independent third-party research (independent Research", at no cost. on the common stock of certain companies covered by the Firm's Equity Research Department ("covered Company'). Customers will be able to access this research at mmebearstearns.com or can call (MI o request that a copy of this research be sent to them. trt . Stearns will notify certain of our customers, at the time of each solicited cider to buy or sell the common stock of a Covered Company, of the availability of Independent Research. and will provide, on the confirmations and statements that are generated for these customers. the ratings) on such Covered Company(s) by the Firm's Equity Research Department, as well as the corresponding rating(s) by the applicable Independent Research provider(s), where evadable. These notice provisions become effective in the near future and. to the extent applicable, will be included in your next monthly statement. Please note, Bear Steams is not responsible or liable for (I) decisions relating to the procurement of Independent Research. (I) Independent Research or its content, (iii) customer transactions, to the extent based on Independent Research. or (v) claims arising from or in connection with access provided by the Finn and/Or the Inclusion of Independent Research ratings in trade conErmations, periodic account statements or vmw.bearsteams.com. Bear Steams is not required to supervise the production of Independent Research and has no responsibility to comment on the content of such Research. STOPI End of Statement LwcLLARva THROWN rs v. txv 0,44140 14.030040 , be. Sun Secarces Cap. EPSTEIN INTERESTS STATE-KW Pt 11100 May 29. 2004 TH1024.411 June 30. 2004 A000len NulaSER ♦AxP,wER Warne/ LAST STATEWD4T May 2B. 2004 Please be advised of the following changes regarding account service fees: Beginning September 1. 2004. accounts will be subject to a $20.00 processing fee for each outgoing wie transfer and for each check issued by Bear Steams at the request of a customer. You may wish to speak to your Account Executive to inquire about the availability of check writing privileges for your brokerage account. Beginning January 1, 2005, accounts mil be subject to an annual account charge of 575.00 applicable for households that maintain less than $100.000 in net equity in related accounts cc that generated less than $500 in brokerage commissions and/or fees paid to Bear Steams in those accounts in the prior calendar year. 027 0101.04,13 31 COI VS32 EFTA01260262 =ARV) TaROV014 ITS wuoLve onto WASSONRY En IS IJ to IJ-n C in r Z966PEOCIA19 -ANGS OFFICE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. BEAR New Yak. New York 10179 STEARNS New en 01 351* 0121 Trz.lcoo EPSTEIN INTERESTS ACCOUNT ExECUTIVE ZICHERMANTRA TELEPHONE VISIT OUR WERSITE mvw.bearsteams tom What's In This Statement Financial Summary 3 EPSTEIN INTERESTS STATEMENT PISMO MII 1.2004 TAROLCal Mew 28.200a ACCOUPR NUMIER TAXPAYER 1.11100ER Ca NC (AST TrATEuEerr Apr4 30.2004 Your Portfolio Holdings 4 DTD 12/26/91 Transaction Detail 5 JEFFERY E EPSTEIN & MARK I. . Fund Activity 5 EPSTEIN & WILLIAM ELKUS 1TEES 457 MADISON AVENUE 4TH FLR NEW YORK NY 10022.6843 Your Portfolio at a Glance Market Value of Your Portfolio Pahl *WM — 1823.316 NET CREDIT BALANCE 3.458 3922.709 MONEY MARKS FUND BALANCE 819.858 Current =1St value IIII Lam sonerneKS mate Take NET EQUITY THIS PER= 8823.316 NET EMMY UST STATEMENT 822.709 CHANGE SINCE ULST STATEMENT 607 its ivinie wags one te Pre trotted secants ea •• la h w ale Wee el Sens ine 74 Mt Spas YAs Need There are no 'Stop Loss orders or other pending buy or sell open orders on file for your account. Pease ma wry taseena et anaszapt 61109as ge — as ananq u IM. Cae co alle a Clia — a Ewa Sin Sean. c". OsPOP. N.Y. 112014030. Sitc"ig sairy n b. rlenrslaad areas cap 1: H %A maenad ST a at COttrriert ra rxemett tac10 St Maud lee ye,/ Mena See riwa sde la swirl ~near 027 05'291412 32 001 3131 EFTA01260263 CLEARED ToROLCal WrIOLLY WOOD alBSOPAOY M —' Larne On. UMW EPSTEIN INTERESTS 2 (-) 0 z m ci m z r £96617£00 -IND-ANGS STATEMENT BACKER IS PRINTED ON THIS PAGE 02' C4.2•04.12 12 001 On1 IJ IJ Is) to EFTA01260264 BOAR STEARNS OFFICE SERVICING YOUR ACCOUNT Ber .Inc. N V Yak 10179 3 se s Cash Flow Analysis DRS PROD Income Summary MS PERIOD YLI.S10 ELIE Opening8alance 63.458.06 Dhiclenas 606.99 2.507.22 Money Fund 606.99 Total $606.99 62,507.22 Amount Credited $606.99 z -n Money Fund Amount Debited Closing Balance -606.99 6-606.99 63.458.06 Portfolio Composition CashICash Equivalent Total 823.316 6823.316 C rn z r P966PEOCIA19 -ANGS Cash Balance Summary 3:0.pc Cash 3.458.06 3.468.06 Your Portfolio Net Cash Balance 53.458.08 63.458.06 Allocation CLOSING 0.E.A.RED ISERDJGH !SS WROLLY 0•SNIO SUIS/DtARY Yea I 1201.3SS, EPSTEIN INTERESTS STAYELEENY PERIOD May 1. 2004 rFPlO May 28.2004 ACCOUNT KAMER TAXPAYER MACCR CO Ale LAS' STA"WELI Aprn 30.2004 Wa 060)104123.2 07)1 Cash EQLSWELYS — IOC% LYLLEOEE talan *.o SEW Sainte 'or sm.., ...flat rout r-* aka, On pwcosap, 4costa M P4 N4co ,W >3112:4 EFTA01260265 m C in r 596617£00 -IN9-ANGS I8 IJ IJ to IJBEAR STEARNS OFFICE SERVICING YOUR ACCOW Pear. Stearns & Co Irt. New Y New York 10179 4 a5 Your Portfolio Holdings CASH & CASH EQUIVALENTS CESCRIPTIOS CASH BALANCE SYMBOL/CUSP AVARtI (smart* CURRENT OUNCLITY PUCE VALUE mom wart mono 3.458 BEAR STEARNS PRIME MONEY FUND EISACCE DNIDEND RErNESTED EST 30 DAY AyG nEW .9100% TOTAL CASH & CASH EQUIVALENTS 819.858,46 1.0000 819,858 7.379 0.9003 5823.316 37.379 EQUMES Equities & Options CCOSPTON BANPAIS SA.SPONSOREDADR BP:BY CAS.? 20.000 Unpnceo REPSTG 8 SIR 15H5 Total Equities& Options TOTAL EQUITIES ACCT MW4T ESTISARO CURRENT VADOOLL"JCP Trot OLIAKTITY MOUS MOVE ODD CO SO SO SO SO YOUR PORTFOLIOHOLDINGSESTIMATE0 ANNUAL INCOME 37,379 YOUR PRICEOPORTFOLIOHOLDINGS 5823.316 01' OS/2SY 12 12 001 CLEARED WROWAi ITS WHOLLY OWNED MESON' Ilossin . Smens Sways 9V11£. Pew WA 11201409 EPSTEIN INTERESTS STATEWLET WRICO May 1.2004 THWACal May 28. 2004 ACCOAIII MASER TAXPAYER MIMEO% On Ft LAST STATEMENT Apl 30.2004 W11 EFTA01260266 =MED 7NRCI.CH rte 0.0.50 Su:Wavy ril IJ IJ is, 00 00 0 -n C rn r 9966PEOCIA19 -ANGS BEAR STERNS OFFICE SERVICING YOUR ACCOUNT Beet Smarm. & Co. Inc. Now York. Now York 10178 Srcs Transaction Detail 0434. Seams Seas gin . Its Tort It 201-3859 EPSTEIN INTERESTS $11/.71W/.7 Pflt/X1 WI, 1.2004 Ture01.1014 May 25. 2004 A0Cana 10ABER TAXPAYbt a On FM MONEY FUND 0811 ACTIVITY TP.4.2451235 C4.10.110. 5,01501CUSIP 041.4571 I44a LAST STAMittif CCM WOW Apra 30.2004 atiort MOM 4.0134Y 05101)04 05103)04 05103104 05.103104 05/03104 05103/04 0550104 05/28/04 DMDEND REINVEST FUND EXCHANGE JOURNAL EXCHANGE OPENING BALANCE BEAR STEARNS PRIME MONEY MARKET PORTFOLIO CL Y RECORD 04/30/04 PAY 04/3004 BEAR STEARNS PRIME MONEY MARKET PORTFOLIO CI. Y REINVEST PRICES 1.00 BEAR STEARNS PRIME MONEY MARKET PORTFOUO CL Y CUSP CHANGE BEAR STEARNS PRIME MONEY MARKET PORITOUO CI. Y 4000886 TO A000942 CUSP CHANGE BEAR STEARNS PRIME MONEY FUND CUSP CHANGE BEAR STEARNS PRPAE MONEY FUND 490942 FROM A000886 CUSP CHANGE CLOSINGBALANCE 073921819 073921819 073921819 073921819 BSFAIOC BSI= 819.251.47 606.99 4506.99 419.251.47 606.99 819.25147 819.858.46 606.99 606.99 TOTAL S-606.99 3606.99 End of Ste Lemon,. 027 052544.12 32 001 1531 EFTA01260267 CLEARED netetem ITS '%40U.Y OILID SULT400AV OFFICE SERVICING 'R ACCOUNT Seer. StearreS & Co. Inc. BEAR New York. New Yak 10179 STEARNS ot 201 rasa EPSTEIN INTERESTS ACCOUNT EXECIfINT 2ICHERMAILIRA TEUPIONE VISIT OUR WTRSIII www.bearsteams.con What's In This Statement Financial Summary 3 llllnllltall!tltrl4l41lult1Inllllttllaltltlatlalll EPSTEIN INTERESTS STATEUDET PUSCS1 AXE 1, 2004 n4nOunn APE 30.2004 AOCCONT MAUER TAXPAYER µARER On Fin LAST STATOEUN MVO 31, 2004 Your Portfolio Holdings 4 DTD 12/26/91 C) Transaction Detail Fund Activity 5 5 JEFFERY E EPSTEIN & MARK L • EPSTEIN & WILLIAM ELKUS TTEES 457 MADISON AVENUE 4TH FIR O TZ NEW YORK NY 10022-6843 rl m Your Portfolio at a Glance Market Value of Your Portfolio $122,709 Cain 4141.1- 111/11=1/1111MN NET CAM (MANCE 3,458 5822.068 MONEY MARTO RIMD EW.PNEE 819.251 Current marker view USURTWITS MALE yalue NET EQUrnr INS PERIOD $822.709 r NET EQUITY LAST STATEMENT CHANGE SINCE LAST STATEMENT 822.068 641 ITS nd MAAR nu man flied wain. Pm an PR ARUM n e* TeEpUTMe M Spsifts snl Re Nu ERA., UR Perot L966PEOCIND -ANGS I8 b.) IJ to There are no 'Stop loss' orders or other pending buy or sell open orders on Me for your accou