EFTA00200811.pdf

Statements EFTA00200811 CLEARED IHRCOOH ITS YesGI? 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WESSITE LICHERMAN.IRA O. IA1. uearstearns.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 6 Fund Activity 6 Your Messages 8 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD' NET CREDIT BALANCE MONEY MARKET FUND BALANCE 4.559.197 9 434,776 IIIIIIIIIIIIIIIII II JEFFREY EPSTEIN CIO FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK (WATER B-3 ST THOMAS VI 00802 Market Value of Your Portfolio Cash & EqUvalent $434-785 $116.505 NET EQUITY THIS PERIOD $4,993,982 NET EQUITY LAST STATEMENT 4,748.242 CHANGE SINCE LAST STATEMENT 245.740 -on cafe* meiotic,' re gm mom vrpnoed teowtees Past ere not 'elected rite Taal *fug of Seamen ad the Net Epee/ The Portal There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Equities ........ Lastim,, aaa,— Roza rood on/ Mate a Doormat:I of Chid% or MOCKS. ntlicolod as &Orme to p5u. b Gent Swan of 800611.1128: a yet to Clem SOMCOS a Bow. Steam &pumas Cap.. One Metokwl, Cooler North. Brooeyn. NY 112014859 ...... 54.559.197 $4.331.737 Current markel vas.* gm Last statements market value Beer. Somas Sehriser CMS Cam Mcoolech Center HORN eeCCidon. New Taft 112013559 JEFFREY EPSTEIN STATEMENT Pucci December 1.2004 THROUGH December 31.2004 ACCOUNT NUMBER TAXPAYER NUMER OR File LAST STATEMENT November 30.2004 Ada. i areMTY fa mT0TmatenalptYp0ses only I Is ra Herded natal &one nn Ratan r5 should be maned for your records Soo mune ode he fl uorin acesnatce 027 01.01.0509:18 001 Important Message U any information regarding 2004interest. dividends. miscellaneous income, gross proceeds or original issue discount is required to be reported to the IRS for this account, a Consolidated Form 1099 will be mailed to you by January 31.2005or a 1042Sby March 15.2005. Y447 EFTA00200812 CLEARED 1HROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns Seca0k1 COO. Ceol.letsolech Cantot North Broeklln• New Ye* 11201.3859 JEFFREY EPSTEIN 2 or e STATEMENT BACKER IS PRINTED ON THIS PAGE 027 01,01,05:09:18 001 Y867 EFTA00200813 CLEARED THROUGH ITS vniCkLY Ot‘a.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 3 Cash Flow Analysis Income Summary THIS PERIOD TICS PERIOD YEAR TO DATE Opening Balance $3,540.00 Dividends 18.271.11 105.627.30 Credit Balance Int. 9.12 852.52 Money Fund 592.82 Total $18,280.23 $106.479.82 Dividends/Interest 17,687.41 Amount Credited $18,280.23 Money Fund -21.811.11 Portfolio Composition Amount Debited $-21,811.11 CashtCash Equivalent 434,785 Net Cash Activity -3,530.88 Equities 4.559.197 ClosingBalance $9.12 Total $4,993,982 Cash Balance Summary OPENING CLOSING Cash 3,540.00 9.12 Cash & Equivalem Net Cash Balance $3,540.00 $9.12 8% Beer. Stearns S0C,rititl Cap. Cc* Mevolech Cola North Becck/on. New Year 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD December 1.2004 THROUGH December 31.2004 ACCCUNT NUMBER TAXPAYER WESER On Ale LAST STATEMENT Novernter 30.2004 Your Portfolio Allocation Equities 92% Uativotal Frown °ono* dealt botance anat. 'hal male wive, Ra ;slot:aim percomaria is clewed Iron to ebsol.te market value of yota 02/ 01,01,05,39:18 001 V867 EFTA00200814 CLEARED THROUGH ITS wisCo.Y OOT,E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 4 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCRPTION S.-Mkt 0,SIP MARKET ESTIMATED CURRENT QUANTITY PRICE VALUE ANNUAL INCOME vac) 0.4 CASH BALANCE 9 Beer. SZeirns SONTIMI COP. Ore Mmsolmh CoMm North Beccmon. New Ye* 112013869 JEFFREY EPSTEIN STATEMENT PERIOD December 1.2004 THROUGH December 31.2004 ACCCUNT NUMBER TAXPAYER NLISSER 011 FIk LAST STATEMENT NW/MIMI 30.2004 DREYFUS CASH MANAGEMENT-CL A DICXX INSTITUTIONAL SHARES EST, 30 DAY AVG M.0 2.0'00% TOTAL CASH & CASH EQUIVALENTS 434.776.19 1.0000 434.776 7.391 1.7000 $434,785 97.391 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firm's Equity Research Department. fi e first rating represents the stock's total return relative to the other stocks covered by that Analyst, The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform, The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available. The various providers have normalized their ratings systems as follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Steams is neither soliciting any action based on such information. nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost, Customers can access this research at wvv,bearsteams,com or can call (800) 517-2327 to request that a copy of this research be sent to them, DESCRPNON CANHORN CHEMICAL CORP ACC! WRNS ESTEMTED CUKOR SYMBOJCUSIP TYPE OUANNTY PRCE VALIK ANOVA& INCOME YEW I%) CNCPF CASH 19 Unpriced FELCOR LODGING TRUST INC FCH CASH 2,000 14.6500 29.300 027 I/TUTUS:09:78 001 V86/ EFTA00200815 CLEARED THROUGH ITS niCkLY OW ,E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & CO. Inc. 383 Madison Avenue New York, Nen York 10179 5 ri Your Portfolio Holdings (continued) Equities & Options (continued) DESCRPRON SYMBOUCUSIP ACCT TYPE OUATITY AWKET VALLE ESTIMATED ANMJAL INCOME CURRENT YELD1144 GLENBOROUGH REALTY TRUST INC GLB CASH 2.000 21.2800 42.560 2.800 6.5789 BSC RATING: STOCK P/SECTOR MW SABRIENT SYSTEMS, L.L.C. RATING: S GLIMCHER REALTY TRUST-SS' GRT CASH 2,000 27.7100 55.420 3,846 6.9397 HRPT PROPERTIES TR-SBI HRP CASH 10.000 12.8300 128.300 8,400 6.5472 HOSPITALITY PROPERTIES TRUST HPT CASH 2,000 46.0000 92.000 5,760 6.2609 S8I JOHNSON& JOHNSON JNJ CASH 57.800 63.4200 3.665.676 65.892 1.7975 BSC AMINO: STOCK P/SECTOR MW BUCKINGHAM RESEARCH RATING: 8 KRAMONT REALTY TRUST KRT CASH 2.000 23.4000 46.800 2.600 5.5556 WTS LUCENT TECHNOLOGIES INC LUTHW CASH 235 1.5800 371 IDT 12/10/2007 PAN PACIFIC RETAIL PROPERTIES PNP CASH 436 62.7000 27.337 946 3.4605 INC PENNSYLVANLA REAL ESTATE PEI CASH 1.794 42.8000 76,783 3.875 5.0467 INVESTMENT TRUST-581 RAMC° GERSHENSON PROPERTIES RPT CASH 12,000 32.2500 387.000 20,160 5.2093 TRUST-MD SBI SIRIUS SATELLITE RADIO INC SIM CASH 1,000 7.6500 7.650 BSC RATING: STOCK P/SECTOR MW ATLANTIS RESEARCH RATING: B Total Equities& Options $4.559.197 $114.279 TOTAL EQUITIES $4.559.197 $114.279 02/ 0101 0!,:9:18 Beer. SZeirns SON, 144 Cory. 0 -4 Mem:tech Cella North BredOp. New Year 1201.3869 JEFFREY EPSTEIN STATEMENT PEF000 December 1.2004 THROUGH December 31.2000 ACCOUNT NUMBER TAXPAYER MASER On File LAST STATEMENT November 30. 2004 EFTA00200816 CLEARED THRWGH ITS niCkLY 0OnE0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 6 Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $121.670 YOUR PRICED PORTFOLIOHOLDINGS $4.993.982 Transaction Detail INVESTMENT ACTIVITY SET'LEMEM TRADE CICE 0.4"E -RANSACDON 12,10/04 JOURNAL DESCRIPTION OUTS LUCENT TECHNOLOGIES INC EXP 12/10/2007 DUE 12/10107 CLASS ACTION SETTLEMENT Beef. 31e9•n5 Seceet.1 COO. Ore Mevolech Canto North BecciOon. New VC* I1201.38S9 JEFFREY EPSTEIN STATEMENT PERIOD December 1.2004 THROUGH December 31.2004 ACCOUNT NUMBER TAXPAYER WESER On File LAST STATEMENT November 30. 2004 STMBOXUSP OVANTITe PRICE DEBIT AMOUNT CREPT AMOUNT LUTHW 235 TOTAL MONEY FUND ACTIVITY DATE MOAT TRANSACTION DESCRIPTION 12/01/04 OPENINGBALANCE SYMEWCWIP QUANTITY PRE DEBIT MOM CREDIT AMOUNT 412.965.08 12101/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 3.540 1.0000 3,540.00 INSTITUTIONAL SHARES 12/01/04 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICTe< 592.82 INSTITUTIONAL SHARES MONTHLY DIVIDEND 027 DI 014S:09:18 001 V867 EFTA00200817 CLEARED THROUGH ITS APICkLY 0%P.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 7 v./ r, Transaction Detail (continued) MONEY FUND ACTIVITY (continued) Beet. Szeirns Secv, tei Core Dec Momtech Center North Beccidon. New Teat 11201 3959 JEFFREY EPSTEIN STATEMENT PERIOD December 1.2004 THROUGH December 31.2004 ACCOUNT NUMBER TAXPAYER AMMER OR File LAST STATEMENT November 30.2004 DATE MOAT TRANSACTION DESORIPTCN SYMBOUOvSIP OJANiry psiCE Oen AMOUNT CREDIT AMOUNT 12/01/04 REINVEST DREYFUS CASH MANAGEMENT-CL A DICTO( 592.82 592.82 INSTITUTIONAL SHARES DIVIDEND REINVEST 12/21/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 17.678.29 1.0000 17.678.29 INSTITUTIONAL SHARES 12/31/04 CLOSINGBALANCE 434,776.19 TOTAL $-21.811.11 $592.82 DIVIDENDS DATE DESORPTION Svh1801.0uve QUANTITY RATE IS) DENT AMOUNT WELT AMOUNT 12/07/04 JOHNSON& JOHNSON JNJ 57.800 0.2850 16,473.00 REC 11/16/04 PAY 12(07/04 12/15/04 PAN PACIFIC RETAIL PROPERTIES PNP 436 0.5425 236.53 INC REC 11126'04 PAY 12,1904 12/15/04 PENNSYLVANIA REAL ESTATE PEI 1.794 0.5400 968.76 INVESTMENT TRUST-S8I REC 1301204 PAY 12(1504 TOTAL $17,678.29 027 01.010S:09:18 001 7867 EFTA00200818 CLEARED THROUGH ITS niCkLY OMnE0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York Non York 10179 8 vi Transaction Detail (continued) INTEREST DATE DESORPTION 12/21/04 INTERS T N REDIT BALANCE ACCT AT 01. 1/21 - 12/20 TOTAL SYMBOAUSIP GAUNTRY Beet. SZeirns SON•44,1 COP Ore Monlech Cantm North 8cmfoon. New VC* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD December 1.2004 THROUGH December 31.2004 ACCOUNT NUMBER TAXPAYER MAPER On File LAST STATEMENT November 30.2004 RATE I%4 DEEM AMOUNT MEDD AMOUNT 9.12 $9.12 Your messages 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 filing jointly must pay a tax on these items, called 'Intangible Tax", by June 30 to avoid increased penalties. For Tax Returns and information, call the Department of Revenue at 1.800352.3671. End of Statement fige As part of the National Association of Securities Dealer's (NASD) Investor Education Program, you may obtain information on the NASD's Public Disclosure Program by contacting the NASD at telephone number (800) 289.9999 or via the intemet address which is wrinv,nasdr,com. In addition, a brochure explaining the Public Disclosure Program is available from the NASD upon request, 027 01,01,05:0918 001 Y867 EFTA00200819 CtEARED THROUGH nS ~MY 0"E0 SUESIDIAAY BffiR STffiRNS OFFICE SERVICING YOUR ACCOUNT Bøar. Stearns 8 Co. Inc. 383 Madison Avenue New York New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WESSITE ZICHERMAN,IRA ,..ww.uearstearns.coni What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 6 Fund Activity 6 Your Portfolio at a Glance TOTAL VALDE OF SECURffIES THIS PERIOD' NET CREDIT 8.r.LANCE MONEY MARKET FUND BAIANCE 4,331.737 3,540 412,965 11111111111111111 I I JEFFREY EPSTEIN CIO FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK MATER B-3 ST THOMAS VI 00802 Market Value of Your Portfolio Cash & Equvalent $4 16-505 $112.417 HET EOUITY THIS PERIOD $4,748,242 NET Eourry LAST STATEMENT 4,564,327 CHANGE SINCE LAST STATEMENT 163,915 -nn meidd eNlecles me or r”re vrenoed eecurtfee east are not releet«, a te Total Varue ot Securttee and the NN &BM/ TNs Perixt Thore are no 'Stop Loss' orders or other pending buy or seil open orders on file for your account. Equibes Flowa MO011 ant ClibtOre0 Of nantoceige ot datas or slacks, ad/colod wdalatOCI lo >to. b Clbell SOMCOO Gl 800(34.1428: a ~to lo Glem SOMCOS at BOW. Stoarrn Steam.» On. Co. Melrelecti Cent« Hot. 8rotAba NY 11201~ . . . . . . . . Øn . . . . . . . . . . . . . . . . . $4.331.737 $4.151.910 Current merket vaue øle Last statemenis merket valt» 868f. Stetrnt. SOC,ritiel DerP. Ore Metrelech Center North Beccid,n. New Te" 11201.2859 JEFFREY EPSTEIN STATEMENT PER« OCIOOSI 30.2004 THFICIUGH Novemter 30.2004 ACCCLINT NUMEER TAXPAYER ØMMER Ofl File LAST STATEMENT OCIOOSI 29.2004 fln ltawarl N Hr 40:04~ moms caly. i Is ra Illended anla. docat Tros statoenero ORM G retained l,r your rocordo Sot inta Se fot orpcebut nronmpn 027 1201.04:14:42 001 1.18654 EFTA00200820 CLEARED 1HROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. SZeirns SON, 14,1 COO. Ceol.letioloch Cantot North Brock/on. New Volt 11201.3859 JEFFREY EPSTEIN 2 of STATEMENT BACKER IS PRINTED ON THIS PAGE 027 1201.DO:14:42 001 Y865A EFTA00200821 CLEARED THRWGH ITS ?RIMY O"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York New York 10179 3 cl Cash Flow Analysis THIS PERIOD Income Summary PERIOD YEAR TO DATE Opening Balance $653.29 Dividends 4.088.28 87.356.19 Credit Balance Int. 0.00 843.40 Money Fund 548.28 Total 54.088.28 $88.199.59 Dividends/Interest 3.540.00 Amount Credited $4,088.28 Money Fund -1.201.57 Portfolio Composition Amount Debited $-1.201.57 Cashreash Equivalent 416,505 Net Cash Activity 2.886.71 Equities 4.331.737 ClosingBalance $3.540.00 Total $4.748.242 Cash Balance Summary OPENING CLOSNO Cash 653.29 3,540.00 Net Cash Balance $653.29 $3.540.00 027 12,01D4:14:42 001 Beer. Screams S0N, 14,1 Cap. OtoLlevelech Cella North Becci0on. New VC* I t201.3SS9 JEFFREY EPSTEIN STATEMENT PERO) October 30.2004 THROUGH November 30.2004 ACCCUNT NUMBER TAXPAYER KINSER On File LAST STATEMENT October 29.2004 Your Portfolio Allocation Cash & Equivalent 8% — Equities 92% Untivoecl prooR denolo debit babnce emit, shat male wive, Rd elocabco peecenlar is &rued from to etnol.te mrket 'due of yoto Paden'! V865A EFTA00200822 CLEARED THROUGH ITS CA11,E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 4 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCRSTON SIMBOLCUSIP PAARKET ESTIMATED CURREPTI QUANTITY PRICE VALUE MINS INCOME YELD III CASH BALANCE 3.540 Beer. Szeirns Secv, t4,1 Cory. Ore Momloch Contm North BrodCon. New Ye* 11201.3559 JEFFREY EPSTEIN STATEMENT PERIOD OCTODef 30.2004 THROUGH Noventer 30.2004 ACCCUNT NUMBER TAXPAYER MASSER On File LAST STATEMENT OCTOOM 29.2004 DREYFUS CASH MANAGEMENT-CL A DICXX INSTITUTIONAL SHARES EST 30 DAY AVG VELD 1.8400% TOTAL CASH & CASH EQUIVALENTS 412.965.08 1.0000 412.965 6,607 1.5999 $416.505 $6.607 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firms Equity Research Department. fi e first rating represents the stock's total return relative to the other stocks covered by that Analyst, The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform, The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available, The various providers have normalized their ratings systems as follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Steams is neither soliciting any action based on such information. nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost, Customers can access this research at www,bearsteams,com or can call (800) 517-2327 to request that a copy of this research be sent to them, DESCRPRON CANHORN CHEMICAL CORP ACCT MARKET ESTIMTED CURFEW SYMECVWSIP TYPE 0UINRTY PRCE VPLLE ANKIAL INCOME YEW N4 CNCPF CASH 19 Unpriced FELCOR LODGING TRUST INC FCH CASH 2,000 12.9400 25.880 027 1201D4:14:42 001 1(86511 EFTA00200823 CLEARED THROUGH ITS O‘M.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & CO. Inc. 383 Madison Avenue New York, New York 10179 Beer. SZeirns SON, 14,1 Cory. CeoLlevetech Cone m North BecciCon. New VC* 1201.3869 JEFFREY EPSTEIN 5 ri STATEMENT PERIOD October 30.2004 THROUGH November 30.2004 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER WEBER On File LAST STATEMENT October 29.2004 Equities & Options (continued) ACCT MARKET ESTIMATED CURRENT DESCROION SYMBOUCUSIP TIDE Ot.tATIT‘ PACE VALLE ANMJAL INCOIAE YELD I%4 GLENBOROUGH REALTY TRUST INC GLB CASH 2.000 21.8400 43.680 2.800 6.4103 BSC RATING: STOCK P/SECTOR MW SABRIENT SYSTEMS, L.L.C. RATING: H GLIMCHER REALTY TRUST-SBI GRT CASH 2,000 26.9500 53.900 3,846 7.1354 HRPT PROPERTIES TR-SBI HRP CASH 10,000 12.0900 120.900 8,400 6.9479 HOSPITALITY PROPERTIES TRUST HPT CASH 2,000 44.9400 89.880 5,760 6.4085 581 JOHNSON& JOHNSON JNJ CASH 57,800 60.3200 3.486.496 65.892 1.8899 BSC RATING: STOCK PISECTOR MW BUCKINGIAM RESEARCH RATING: H KRAMONT REALTY TRUST KRT CASH 2,000 20.1200 40.240 2,600 6.4612 PAN PACIFIC RETAIL PROPERTIES PNP CASH 436 59.3000 25.855 946 3.6589 INC PENNSYLVANIA REAL ESTATE PEI CASH 1,794 40.7500 73.106 3,875 5.3005 INVESTMENT TRUST-Sal RAMCO GERSHENSON PROPERTIES RPT CASH 12.000 30.4300 365,160 20,160 5.5209 TRUST-MD SBI SIRIUS SATELLITE RADIO INC SIR' CASH 1.000 6.6400 6.640 BSC RATING: STOCK 0/SECTOR MW ATLANTIS RESEARCH RATING: B Total Equities& Options $4.331.737 $114,279 TOTAL EQUITIES $4.331.737 $114.279 02/ 12.01.04:14:42 001 YeSSA EFTA00200824 CLEARED 'DAMON ITS wisCALY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 6 vi Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $120,886 YOUR PRICED PORTFOLIOHOLDINGS $4.748.242 Transaction Detail MONEY FUND ACTIVITY Beer. SZeirns SON, 14,1 C0,0 Cc* Momlea Cantet North 8A:cidon. New Ye* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD OCtOber O. 2004 THROUGH Noventer 30.2004 ACCOUNT NUMBER TAXPAYER KISSER On File LAST STATEMENT October 29.2004 DATE AIDDAT TRANSACTKAI DESCRIPTION SYMEWCUSIP QUANTITY PRFCE Cell AMOUNT CREDIT AMOUNT 10/30/04 OPENINGBALANCE 411.763.51 11/01/04 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICA 548.28 INSTITUTIONAL SHARES MONTHLY DIVIDEND 11/01/04 REINVEST DREYFUS CASH MANAGEMENT-CL A DICXX 548.28 548.28 INSTITUTIONAL SHARES DIVIDEND REINVEST 1V02/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 653.29 1.0000 653.29 INSTITUTIONAL SHARES 11/341.04 CLOSINGBALANCE 412.965.08 TOTAL $.1.201.57 $548.28 027 1201.134:14:42 001 'eSEAA EFTA00200825 CLEARED THROUGH ITS 095.EO SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Non York 10179 7 vl Transaction Detail (continued) DIVIDENDS DATE DESORPTION 11/19/04 HOSPITALITY PROPERTIES TRUST 581 REC 10/22/04 PAY 11/19/04 SYMBC1AUSIP owner RATE (Sll HPT 2.000 0.7200 DEBIT AMOUNT Beet Saea•ns SO8,449 COO. Ore Momtech Cantm North 88:cioon. New Teat 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD 081063f 30.2004 THROUGH Noventer 30.2004 ACCCUNT NUMBER TAXPAYER AILIUSER 011 File LAST STATEMENT OCTOOM 29.2004 CREDIT AMOUNT 1,440.00 11/22/04 HRPT PROPERTIES TA-SRI REC 10/22/04 PAY 11/2204 HRP 10.000 0.2100 2,100.00 TOTAL $3,540.00 End o1 Statement 027 12,0104:14:42 001 9866A EFTA00200826 CLEARED THRCOGH 11S vniCkLY 0"E0 SUOSICHAFIv BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 CO. Inc. 383 Madison Avenue New York, New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE ZICHERMAN.IRA www.uearstearns.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 6 Fund Activity 6 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD' NET CREDIT BALANCE MONEY MARKET FUND BALANCE 4,151.910 653 411,764 IIIIIIIIIIIIIIIII I I JEFFREY EPSTEIN CIO FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK (WATER B-3 ST THOMAS VI 00802 Market Value of Your Portfolio Cash& EqMvalent $412'417 ns?a $404.613 Equales 4,0421 !il 1° NET EQUITY THIS PERIOD $4,564,327 NET EQUITY LAST STATEMENT 4,426.431 CHANGE SINCE LAST STATEMENT 137.897 -on cafe* ncludes ore or more arra& washes Hat are not related nix Taal Yew of Seasbes and the Net Equity The Penal There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Roza masa any Mama a rowans al dud's or sKKks. summed as datroroa io lo Clem Sonia. ai 800614142B: a vat to mom Services a Bow. Steam Saumas Cap.. One lAelm1ali Carla Nat. 8rodlyn NY 112014859 Current market value ism Last statements market value Beef. SZeirns SOCwititi CaP 0 -4Mo:elan Center North &Wart New Tent 11201.3959 JEFFREY EPSTEIN STATEMENT PERK* Octoter 1.2004 THROUGH Octeeer 29.2004 ACCOUNT NUMBER TAXPAYER NUMER OR File LAST STATEMENT September 30.2004 t TR. PenmMY fa sermilenal proosn aly It is ret Handedmato. &minors The stateroom should Ns rearanl to your records Soo mono see for mmeart ricensaton 02? 103004:11:S0 001 7864 EFTA00200827 CLEARED 1HROUGH NS vriseklY O"EO S0BSIDIARY 808r. Saee•ns S0N, t4,1 COO. CeolActsolech Cantot North Broeklln• New Tuft 11201.3859 JEFFREY EPSTEIN 2 or 7 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 10,3004:11:50 001 V8E4 EFTA00200828 CLEARED 1HRWGH nS niCkLY 0Mt•E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Non York 10179 3 al Cash Flow Analysis Income Summary THIS PERIOD 116 PERIOD YEAR TO DATE Opening Balance $115.78 Dividends 7,800.84 83,267.91 Credit Balance Int. 3.29 843.40 Money Fund 449.24 Total $7.804.13 $84.111.31 Dividends/Interest 7,354.89 Amount Credited $7.804.13 Money Fund -7,266.62 Portfolio Composition Amount Debited $-7.266.62 CashtCash Equivalent 412,417 Net Cash Activity 537.51 Equities 4.151,910 ClosingBalance $653.29 Total 84.564.327 Cash Balance Summary OPEN AG CLOSING Cash 115.78 653.29 Net Cash Balance Beer. Neon Seceemr COO. Ore Memtech Conte NOM 8mcidon. New Tuft 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOO °MON 1.2004 THROUGH OCIOIXI 29. 2004 ACCOUNT NUMBER TAXPAYER AILM3ER On File LAST STATEMENT SEDIElltet 30.2004 Your Portfolio Allocation Cash & Equiratero $115.78 $653.29 9% 027 10,3004:11:50 001 - Equities 91% UnWooecl crown cantle debit bebop, ants male wives Tha elocauco perceMar m Owed Iran Vo otnal.te market value of y01/ palbm 1864 EFTA00200829 CLEARED THRWGH ITS 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 4 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCR.110/1 S.-MO.0,Sr? /ARKS ESTIMATED CURRENT QUANTITY PRICE VALUE ANNUAL INCOME YELD 141 CASH BALANCE 653 Beer. SZeirns SON, 144 Cory. Cc* Meesetech Center North BredCon. New Year 11201.3559 JEFFREY EPSTEIN STATEMENT PERIOD OCIOter 1,2004 THROUGH Otiose( 29.2004 ACCOUNT NUMBER TAXPAYER NUMBER On File LAST STATEMENT September 30.2004 DREYFUS CASH MANAGEMENT-CL A DICXX INSTITUTIONAL SHARES EST, 30 DAY AVG YIELD 1.6300% TOTAL CASH & CASH EQUIVALENTS 411.763.51 1.0000 411.764 5,765 1.4001 5412.417 $5.765 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firm's Equity Research Department, The first rating represents the stock's total return relative to the other stocks covered by that Analyst, The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform, The second rating represents the rating of the coverage universe relative to the regional broader market index, The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed, where such research is available, The various providers have normalized their ratings systems as follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Steams is neither soliciting any action based on such information. nor endorsing any recommendation or opinion expressed by any independent, third-party research provider, The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost, Customers can access this research at wvv,bearsteams,com or can call (800) 517-2327 to request that a copy of this research be sent to them, DESCRPRON CANHORN CHEMICAL CORP ACCT MO(ET ESTIMIED CLIFIFENT SYMBWCUSIP TYPE QUAIERTY PRCE VALUE ANKIAL INCOME VELD r4) CNCPF CASH 19 Unpriced FELCOR LODGING TRUST INC FCH CASH 2,000 11.6200 23.240 BSC RATING: STOCK U/SECTOR MW GREEN STREET ADVISORS. INC. RATING: S 07/ 10,3004:11:S0 001 EFTA00200830 CLEARED THRWGH ITS ?RIMY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 808f. Saee•ns S0N, 14,1 Cory. Ore Momtech CarrIN North Beccidon. New Ye* 11201 3959 JEFFREY EPSTEIN 5 vi STATEMENT PERIOD October 1.2004 THROUGH °CMOS! 29.2004 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER AILMA3ER On File LAST STATEMENT September 30.2004 Equities & Options (continued) ACCT IMRKET ESTIMATED CURRENT DESCROION SYMBOUCuSIP PIPE OUATITY PACE vALUE ANNUAL INCOME VELD GLENBOROUGH REALTY TRUST INC GLB CASH 2.000 21.0000 42.000 2.800 6.6667 BSC RATING: STOCK P/SECTOR MW SABRIENT SYSTEMS, L.L.C. RATING: H GLIMCHER REALTY TRUST-SS' GRT CASH 2,000 25.8200 51.640 3,846 7.4477 HRPT PROPERTIES TR-SBI HRP CASH 10,000 11.1900 111.900 8,400 7.5067 HOSPITALITY PROPERTIES TRUST HPT CASH 2,000 42.8500 85.700 5,760 6.7211 581 JOHNSON& JOHNSON JNJ CASH 57,800 58.3800 3.374.364 65.892 1.9527 BSC RATING: STOCK P1SECTOR MW BUCKING IAM RESEARCH RATING: H KRAMONT REALTY TRUST KRT CASH 2,000 18.8600 37.720 2,600 6.8929 PAN PACIFIC RETAIL PROPERTIES PNP CASH 436 56.6500 24.699 946 3.8301 INC PENNSYLVANIA REAL ESTATE PEI CASH 1,794 40.5500 72.747 3,875 5.3267 INVESTMENT TRUST-SBI RAMCO GERSHENSON PROPERTIES RPT CASH 12.000 27.0000 324,000 20,160 6.2222 TRUST-MD SBI SIRIUS SATELLITE RADIO INC SR CASH 1.000 3.9000 3.900 BSC RATING: STOCK 0/SECTOR MW ATLANTIS RESEARCH RATING: H Total Equities& Options $4.151.910 $114.279 TOTAL EQUITIES 84.151.910 $114.279 027 10 3004:11:50 001 EFTA00200831 CLEARED THR0OOH ITS ?RIMY 0"ED SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 6 ci Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $120,044 YOUR PRICED PORTFOLIOHOLDINGS $4,564,327 Transaction Detail MONEY FUND ACTIVITY Beer. SZeirns S0C."44.1 Cap. Cr.* Mon:tech Cont“ North Beccidon. New Ye* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD Octote! 1.2004 THROUGH °CMOS! 29.2004 ACCOUNT NUMBER TAXPAYER AILMA3ER On File LAST STATEMENT September 30.2004 DATE MD DAY TRANSACTION OESCRIPTO3N SYMEWCUSIP QUANTITY PRICE Cell AMOUNT CREDIT AMOUNT 10/01/04 OPENINGBALANCE 404,496.89 10/01/04 DIVIDEND DREYFUS CASH MANAGEMENT-CL A DICXX 449.24 INSWIUTIONAL SHARES MONTHLY DIVIDEND 10/01/04 REINVEST DREYFUS CASH MANAGEMENT-CL A DICXX 449.24 449.24 INSTITUTIONAL SHARES DIVIDEND REINVEST 10/20/04 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICXX 6.817.38 1.0000 6,817.38 INSTITUTIONAL SHARES 10129104 CLOSINGBALANCE 411,763.51 TOTAL $.7.266.62 $449.24 027 103000:11:50 001 EFTA00200832 CLEARED THROUGH ITS miserly 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Non York 10179 7 vi Transaction Detail (continued) DIVIDENDS Beet Stearns SOC,M*1 Cap. Ore MetroImh Center HMO etCCk/01. New re* 11201.3859 JEFFREY EPSTEIN STATEMENT PERO° CCIODef 1.2004 THROUGH October 29.2004 ACCOUNT NUMBER TAXPAYER KAMER OR File LAST STATEMENT September 30.2004 DATE DESORPTION STIABOUCUSIP OUN4MY RATE MI DEBIT AMOUNT OTEDIT AMOUNT 10/01/04 RAMCO GERSHENSON PROPERTIES APT 12.000 0.4200 5.040.00 TRUST-MD S81 REC 09/20+04 PAY 10/01/04 10115/04 GLENBORO1JGH REALTY TRUST INC GIB 2,000 0.3500 700.00 REC 10,01104 PAY 10/15104 10/15/04 GLIMCHER REALTY TRUST-SIN GRT 2,000 0.4808 961.60 REC 0913694 PAY 10/15/04 10/22/04 KFUWONT REALTY TRUST KAT 2,000 0.3250 650.00 REC 09124104 PAY 10/22/04 TOTAL $7,351.60 INTEREST DATE DESORPTION 10/21/04 INTE ACCT INT BALANCE ATOP . 1 - 10/20 TOTAL STMOCIJDUSIP OUANTITY RATE I%) CEBU AMOUNT CREDIT AMOUNT 3.29 $3.29 End of Statement 027 10/30r0431:80 001 1884 EFTA00200833 CLEARED THRCOGH nS witekLY 0He.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8. Co. Inc. 383 Madison Avenue New York, New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE LI3HaRtvIAN,IRA ewe. Luearstearns.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 6 Fund Activity 6 Your Messages 8 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD' NET CREDIT BALANCE MONEY MARKET FUND BALANCE 4.021.818 116 404.497 11111111111111111 II JEFFREY EPSTEIN CIO FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK (WATER 5-3 ST THOMAS VI 00802 Market Value of Your Portfolio Cash a Eqiivalent ill 34°4'613 ugrivrz; $306.910 NET EOUITY THIS PERIOD $4,426,431 NET EQUITY LAST STATEMENT 4,507,195 CHANGE SINCE LAST STATEMENT -80,764 -nu mane ,dotes ere or mere vrpnoed oeowbes Prat are not rented Hex Taal Wive of Seowbes and He Net (poly The Period There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Equities Plena room oaf diNronn a pontoon( of Chid% or MOCKS, oldIC0100 as &Oran to rou. lo Clem Senior: at 800044428: a veto to Clem SONIC.. a Bow. Eamon &comas Cad.. One Irehokrob Center North. BrooNyn NY. 112014859 Current market value isE Last statement's market value $4.021.818 84.120.378 Beer. Steams SON'ititi COO. Ore liCOOICCh Center North Beak/on. Hew Tont 11201.1859 JEFFREY EPSTEIN STATEMENT PERKIO Sept...reef 1.2004 THROUGH Septerntrer 30.2004 ACCOUNT NUMBER TAXPAYER KAMER On File LAST STATEMENT August 31.2004 SIM ThS arnin". HTOnntrObal pants say I Is fa eland natal doan,n Tin stateenara should be retailed for your records Soo mom ads for ITIPOdirt aconatco 027 1001.04:07:49 001 EFTA00200834 CLEARED 'THROUGH ns OW ,;(0 SUBSIOIARY 808r. Saee•ns Secoalkl COO. Otto lActsolech Cantot North Broeklln• New Tuft 11201.3859 JEFFREY EPSTEIN 2 or s STATEMENT BACKER IS PRINTED ON THIS PAGE 027 10,01GO:07:49 001 V863 EFTA00200835 CLEARED 1HRWGH ITS ?RIMY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 3 cis Cash Flow Analysis THIS PERICO Income Summary DC PEN® YEAS TO DATE OpeningBalance $386.818.60 Dividends 17.678.29 75.467.07 Credit Balance Int. 115.78 840.11 [Addends/Interest 17,794.07 Total $17,794.07 $76.307.18 Amount Credited $17.794.07 Money Fund -404.496.89 Amount Debited $-404,496.89 Portfolio Composition Net Cash Activity -386.702.82 CastirCash Equivalent 404.613 Equities 4.021.818 Closing Balance $115.78 Total 54.426.431 Cash Balance Summary OPEr,hG CLOSING Cash 386.818.60 115.78 Net Cash Balance $386,818.60 $115.78 027 100104:07:49 001 Beer. SZeirhs SOC,r44,1 Dap. Ore Mem:tech Cola NOM Beccidon. New Year 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD September 1,2004 THROUGH September 30.2004 ACCOUNT NUMBER TAXPAYER KAMER Co File LAST STATEMENT August 31.2004 Your Portfolio Allocation Cash 8 Equivalent - 9% — Equities 91% Unthnecl pororis °ono* debit bebop, *NW No•I male wive, Tha elocalico percents-0 ts de•ued hem Va etnel.te market value of y01/ patio, Y883 EFTA00200836 CLEARED THROUGH ITS wilekLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Non York 10179 4 ri 1 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCRIPTION S•AISCL0;Sti MARKET ESTIMATED (A,RFENT QUANTITY PRICE VALUE MNJAL PC.WE Yes (%, CASH BALANCE 116 Beer. Saea•ns SON, t4,1 COO. Cc* Mon:tech Cella North Beccidon. New Ye* I 1201.38S9 JEFFREY EPSTEIN STATEMENT PERIOD September 1, 2004 THROUGH September 30.2004 ACCOUNT NUMBER TAXPAYER WIESER Co File LAST STATEMENT August 31.2004 DREYFUS CASH MANAGEMENT-CL A DICXX INSTITUTIONAL SHARES EST, 30 DAY AVG YELD 1.5500% TOTAL CASH & CASH EQUIVALENTS 404.496.89 1.0000 404,497 5.258 1.2999 5404.613 55.258 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firm's Equity Research Department. The first rating represents the stocks total return relative to the other stocks covered by that Analyst, The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform, The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third•party research provider and their rating may also be displayed, where such research is available, The various providers have normalized their ratings systems as follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Steams is neither soliciting any action based on such information. nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Stearns at no cost, Customers can access this research at wvv,bearsteams,com or can call (800) 517-2327 to request that a copy of this research be sent to them, DESCRPSON CANHORN CHEMICAL CORP ACCT MARKET ESTEEM CM:ENT SYMSOLCUSIP TYPE OUANSTY NICE VALIK MOJA& SCONE VELD NT CNCPF CASH 19 Unprioed FELCOR LODGING TRUST INC FCH CASH 2,000 11.3100 22.620 BSC RATING: STOCK U/SECTOR MW GREEN STREET ADVISORS. INC. RATING: S 027 10,01,04:07:49 001 VEIG:1 EFTA00200837 CLEARED THRWGH ITS ?RIMY OWED SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 5 STATEMENT PERIOD September 1,2004 THROUGH September 30.2004 Your Portfolio Holdings (continued) ACCOUNT NUMBER TAXPAYER AILMA3ER Co File LAST STATEMENT August 31. 2004 Equities & Options (continued) ACCT MARKET ESTRUM CURRENT DESCRO1ON SYMBOUCUSIP TYPE OUATITY VALUE ANNUAL NCERAE YELD 151 GLENBOROUGH REALTY TRUST INC GLB CASH 2.000 20.7700 41.540 2.800 6.7405 BSC RATING: STOCK P/SECTOR MW SABRIENT SYSTEMS, L,L,C, RATING: H GLIMCHER REALTY TRUST-SS' GRT CASH 2,000 24.3000 48.600 3,846 7.9136 HRPT PROPERTIES TR-SBI HRP CASH 10,000 10.9900 109.900 8,400 7.6433 HOSPITALITY PROPERTIES TRUST HP1 CASH 2,000 42.4900 84.980 5,760 6.7781 SBI JOHNSON& JOHNSON JNJ CASH 57,800 56.3300 3.255.874 65,892 2.0238 BSC RATING: STOCK PISECTOR MW BUCKINGI4AM RESEARCH RATING: H KRAMONT REALTY TRUST KRT CASH 2,000 18.6000 37.200 2.600 6.9892 PAN PACIFIC RETAIL PROPERTIES PNP CASH 436 54.1000 23.588 946 4.0105 INC PENNSYLVANIA REAL ESTATE PEI CASH 1,794 38.6600 69.356 3,875 5.5871 INVESTMENT TRLtST-SBI RAMCO GERSHENSON PROPERTIES RPT CASH 12.000 27.0800 324,960 20,160 6.2038 TRUST-MD SBI SIRIUS SATELLITE RADIO INC SIR' CASH 1.000 3.2000 3.200 BSC RATING: STOCK 0/SECTOR MW ATLANTIS RESEARCH RATING: H Total Equities& Options $4.021.818 $114.279 TOTAL EQUITIES $4.021.818 $114.279 Beer. SZetrns SOC,M*1 COrP 0 -4 Meesetech Center North BredOp. New Year I1201.38S9 JEFFREY EPSTEIN 027 10,01GO:07:49 001 '.1163 EFTA00200838 CLEARED THRWGH ITS ?RIMY 0"ED SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Neste York 1O179 6 cl Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $119,537 YOUR PRICED PORTFOLIOHOLDINGS $4,426,431 Transaction Detail MONEY FUND ACTIVITY DATE LICI'DAY TRMISACTION DESCRIPTION O9/O1/O4 OPENINGBALANCE SYMEAXUSIP Boor. Stools S0C,nt*1 Cap. 0 -41.1evetech Contm North Beccidon. New Tuft 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD September 1,2004 THROUGH September 30.2004 ACCOUNT NUMBER TAXPAYER AILIMER Co File LAST STATEMENT August 31.2004 (tarry proCE Cell AMOUNT CREDIT AMOUNT O.OO O9/O21O4 BOUGHT DREYFUS CASH MANAGEMENT-CL A DIC)C( 386,818.6O 1.OOOO 386,818.6O INSTITUTIONAL SHARES O9115/O4 BOUGHT DREYFUS CASH MANAGEMENT-CL A DICA 17.678.29 1.OOOO 17,678.29 INSTITUTIONAL SHARES O9/3O/O4 CLOSINGBALANCE 4O4,496.89 TOTAL $.4O4.496.89 027 1001,04:07:49 001 V863 EFTA00200839 CLEARED THRWGH ITS ?RICO.? 0"E0 SUBSIDIARY BUR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 7 Transaction Detail (continued) Beer. SZeirns SON, t4,1 Cap. Ore Momtech Cella North Beccidon. New Tuft 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD &Venter 1,2004 THROUGH September 30.2004 ACCOUNT NUMBER TAXPAYER KAMER Co File DIVIDENDS UST STATEMENT August 31.2004 DVE DESORPTION SY1.10WCUSIP OUNVTITY RATE (Q OEB1T AMOUNT CREW AMOUNT 09/07/04 JOHNSON& JOHNSON JNJ 57,800 0.2850 16,473.00 REC cot7104 PAY 09107/04 09/15/04 PAN PACIFIC RETAIL PROPERTIES PNP 436 0.5425 236.53 INC REC cie27:04 PAY 09/15/04 09/15/04 PENNSYLVANIA REAL ESTATE INVESTMENT TRUST-S8I REC 09101104 PAY 09/15104 PEI 1,794 0.5400 968.76 TOTAL 617,678.29 INTEREST DATE OESCAPTI0n 09/21/04 INTE T N REDIT BALANCE ACCT AT 00, 0920 TOTAL $115.78 SYMECtICUSIP OUMMTY RATE IV OEM! AMOUNT CREW AMOUNT 115.78 027 100104:07:49 001 V863 EFTA00200840 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York, Nee York 10179 8 c/ Your messages Bear. Stearns Securities Corp, Net Capital and Net Capital Requirements: At May 31, 2004 and July 31. 2004. the Company's net capital of approximately $3,6 billion and $3,6 billion was approximately 6,8% and 6,5% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately $1.1 billion and $1,1 billion by approximately $2,5 billion and $2,5 billion, all respectively, A complete copy of the Bear. Stearns Securities Corp, Statement of Financial Condition is available on the web site mvw,bearstearns,com, Alternatively, to request a free printed copy please call - toll free 1-866.299-9331, Bar ear. 508MS SOOrIORS COO. Ono Mavotech Center Hann Brecklin. New Ye* 11201.3859 JEFFREY EPSTEIN STATEMENT PERK* Sepieffeet 1.2004 THROUGH Septerrter 30.2004 ACCOUNT NUMBER TAXPAYER WEISER On File LAST STATEMENT August 31.2004 Securities and other assets in your account are the firm's collateral for any margin loan made to you. If the securities and other assets in your account decline in value, so does the value of the collateral supporting your loan, and, as a result, the firm can take action, such as issue a margin call and/or sell securities or other assets in any of your accounts held with the member, in order to maintain the required equity in the account. it is important that you fully understand the risks involved in trading securities on margin, These risks include the following: ' You can lose more funds than you deposit in the margin account, ▪ The firm can force the sale of securities or other assets in your account(s), ' The firm can sell your securities or other assets without contacting you. ' You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold to meet a margin call, ' The firm can increase its 'house" maintenance margin requirements at any time and is not required to provide you advance written notice, ' You are not entitled to an extension of time on a margin call, 027 1001.04:07:49 001 V863 EFTA00200841 CLEARED THROUGH ITS witCkLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERI/ICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 9 Bar This statement is provided to explain Bear, Stearns & Co. Inc.'s ("BSC) payment for order flow practices. BSC routes a majority of orders for customer securities transactions to the primary market for such securities. Orders may also be routed to other market service vendors that assure executions pursuant to complex mathematical formulas at better than the national best bid or best offer (NBB0), BSC receives no cash payment or other consideration for such order routing other than favorable executions or executions of limit orders at no additional charge. End of Statement Ear Beer. SZeirns SON, t4,1 Dap. Ore Momloch Contof North Beccidon. New Tuft 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD September 1,2004 THROUGH September 30.2004 ACCCUNT NUMBER TAXPAYER WESER On Foe LAST STATEMENT August 31.2004 Pursuant to SEC Rule 11Ac1.6, please note the following: Bear, Steams & Co. Inc. will post its quarterly routing statistics at the following web link: http://www.bearsteams.com. Click on Individual Investor, Click on Equities, Click on Order Routing Practices. Customers of Bear, Steams & Co. Inc. may request information on any order executed within the prior six months from the time of the request. Specifically, you may request the identity of the venue to which the identified orders were routed for execution, whether the order was directed by you to that venue, and the time of the executions, if any, that resulted from such orders. 027 latit04:07:49 001 VIM EFTA00200842 CLEARED THROUGH ITS WIIOU.Y 01ThED SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York New York 10179 ACCOUNT EXECUTIVE TELEPICCE VISIT OUR WEBSITE ZI3HEHMAN.IRA 6.hw.uea'stearrs.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 6 11.1,111111111111 I I JEFFREY EPSTEIN CIO FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK OUATER B-3 ST THOMAS VI 00802 Your Portfolio at a Glance Cash S Equvalent Market Value of Your Portfolio $386.819 TOTAL VALUE OF SECURITIES THIS PERIOD' 4.120.376 $363.017 NET CREDIT BALANCE 386.819 Equines ........ SS ....... tii ....... 555 ........iii ....... 555 ....... iii ....... $4.120.376 83.905.215 NET EQUITY THIS PERIOD $4.507.195 Current market value NET EQUITY LAST STATEMENT 4.288.232 Last statement's market value CHANGE SINCE LAST STATEMENT 218.963 9115 portfolio dicludas ono or mm emceed sacurees rat 1.0 rice retorted n Pe Taal Yea of Securbes and Ole Plot Cooly The Peered There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Roza copal Oaf cllbronoo a rawoula of torn or socks, mdicolal as clolfroma lo p5u. lo ClOol Simian of 800(04.1428: a yet lo ChM Santos a 8020. Steam &canes Cap. Co. Maul...I, Cala Honk Brodbn, NY. II20, 4059 aeon. Steams SOOwilt Cap. Coe liatotech Cooler Noah Becck/on, No* Tak 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD Jul" 31.2004 THROUGH August 31.2004 ACCOUNT NUMBER TAXPAYER NUMBER On File LAST STATEMENT Jul, 30. 2004 St TME asTomoN a fornreemaesnal amens orEy els ra "'eroded as taw docaenert stateraere NNW be retard for your mans Ste reverse Sr for anaemia IIVOIThatKa 027 Crat1.04:08:31 001 Y862 EFTA00200843 CLEARED 1HROUGH RS YrisekLY 0"E0 S0BSIDIARY 808r. SZeirns SON, 14,1 COO. Ceol.letioloch Cantot North BrodCon. New Ye* 11201.0859 JEFFREY EPSTEIN 2 or STATEMENT BACKER IS PRINTED ON THIS PAGE 027 09,01,04:06:21 001 7862 EFTA00200844 CLEARED IHRWOH ITS wuCkLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 3 ci Cash Flow Analysis Income Summary THIS PERIOD 116 PERIOD YEAR TO DATE OpeningBalance $383,016.57 Dividends 3.540.00 57,788.78 Credit Balance Int. 262.03 724.33 Dividends/Interest 3.802.03 Total $3.802.03 $58,513.11 Amount Credited $3,802.03 Net Cash Activity 3,802.03 Closing Balance $386,818.60 Portfolio Composition CastirCash Equivalent 386.819 Equities 4.120.376 Cash Balance Summary Total $4.507.195 Beer. SZeirns Sec , 14,1 Cap. OtoMetsolech Cola North Becci0on. New To* 112013959 JEFFREY EPSTEIN STATEMENT PERIOD Jut) 31.2004 THROUGH August 31.2004 ACCOUNT NUMBER TAXPAYER MASER On File LAST STATEMENT Jul 30.2004 OPOONG CLO31,4 Cash 383,016.57 386.818.60 Net Cash Balance $383.016.57 $386.818.60 Your Portfolio Allocation 027 090104:06:21 001 Cash & Equwaleal 8:: — Equities 92% Untivoecl prow,' cantle debt babnce Amite shal male wive, TN/ elcaahco percomar is &rued Icon Vo etnalas markt., value of soy oaiscaa 1862 EFTA00200845 CLEARED THROUGH ITS niCkLY ORREO SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCFDPTION CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $386,819 SYMBOLCUSIP MARKET ESTIMATED CURRENT DUMMY PRICE VALUE *NS NOM Yet/ IV 386,819 EQUITIES BAAL SZeirns SON, Rt1 Dap. Cc* Mevolech Cantof North Becdoon. New Ye* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD Juk 31.2004 THROUGH August 31.2004 ACCCUNT NUMBER TAXPAYER PAIRBER On File LAST STATEMENT Jul/ 30.2004 Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firms Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst, The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform, The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed. where such research is available. The various providers have normalized their ratings systems as follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost, Customers can access this research at wmv.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. DESCRFRON CANHORN CHEMICAL CORP AOCT MARKET ESTIMATED CURRDIT SYM%IJWSIP IYPE QUANTITY PRICE VALLE ANATOL INCOME YEW I%4 CNCPF CASH 19 Unpriced FELCOR LODGING TRUST INC FCH CASH 2,000 11.7100 23.420 BSC RATING: STOCK U/SECTOR MW GREEN STREET ADVISORS. INC. RATING: S GLENBOROUGH REALTY TRUST INC GLB CASH 2,000 20.4800 40.960 2.800 6.8359 BSC RATING: STOCK P(SECTOR MW SABRIENT SYSTEMS. L.L.C. RATING: H 02/ 0901,04R6:31 001 V862 EFTA00200846 CLEARED IHRWOH ITS OW,E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 5 v/ Beer. Saee•ns SON, 14,1 COrP Ore Llevalech Cora et North Beccnon. New Max 11201 3959 JEFFREY EPSTEIN STATEMENT PERIOD Jug 31.2004 Your Portfolio Holdings (continued) THROUGH ACCCUNT NUMBER TAXPAYER WESER August 31.2004 On Fee LAST STATEMENT Jug 30.2004 Equities & Options (continued) ACC, MARKET ESTMATED CURFEW DESCRPTION SYMBOUCUSIP TrPE WANED/ PRCE VALLE ANNUAL INCOIAE yap N GLIMCHER REALTY TRUST-SS! GRT CASH 2,000 25.3400 50.680 3,846 7.5888 HRPT PROPERTIES TR-SBI HRP CASH 10.000 10.7800 107,800 8,400 7.7922 HOSPITALITY PROPERTIES TRUST HPT CASH 2.000 41.9500 83.900 5.760 6.8653 JOHNSON& JOHNSON JNJ CASH 57.800 58.1000 3.358.180 65.892 1.9621 BSC RATING: STOCK PiSECTOR MW BUCKINGHAM RESEARCH RATING: H KRAMONT REALTY TRUST KRT CASH 2,000 18.4800 36.960 2.600 7.0346 PAN PACIFIC RETAIL PROPERTIES PNP CASH 436 53.3900 23.278 946 4.0639 INC PENNSYLVANIA REAL ESTATE PEI CASH 1,794 38.2600 68.638 3.875 5.6456 INVESTMENT TRUST-S8I RAMCO GERSHENSON PROPERTIES RPT CASH 12.000 27.0200 324,240 20,160 6.2176 TRUST-MD SBI SIRIUS SATELLITE RADIO INC SIR! CASH 1.000 2.3200 2,320 BSC RATING: STOCK PiSECTOR MW ATLANTIS RESEARCH RATING: H Total Equities& Options $4,120,376 $114.279 TOTAL EQUITIES $4,120,376 $114.279 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $114,279 YOUR PRICED PORTFOLIOHOLDINGS 64.507.195 027 090104:06:31 001 •Y862 EFTA00200847 CLEARED THRWGH ITS niCkLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 6 c/ Transaction Detail DIVIDENDS DATE DESCRPTION STMEICIUCUSIP WWII, RATE (S) 08/20/04 HOSPITALITY PROPERTIES TRUST HPT 2.000 0.7200 881 REC 07/22104 PAY 08/20/04 DEBIT AMOUNT Beer. SZeirns S0N, 14,1 COrP. Ore Mevolech Contm North Beccidon. New Yuk I1201.38S9 JEFFREY EPSTEIN STATEMENT PERIOD Juk 31.2000 THROUGH Auguu 31.2000 ACCOUNT NUMBER TAXPAYER CAMBER Cfl File LAST STATEMENT JU 30.2004 CREDIT AMOUNT 1,440.00 08/25/04 HRPT PROPERTIES TR-SBI REC 07,23.404 PAY 0812504 HRP 10.000 0.2100 2,100.00 TOTAL $3.540.00 INTEREST DrE CESCF P110`1 I OB23,04 INTE EDIT BALANCE ACCT AT 00, .r .21 - 08/20 TOTAL SYMBCVCVSIP OWARITY RATE IV*/ DEBIT AMOUNT CREDIT AMOUNT 262.03 $262.03 End of Statement 027 09,01,04:06:21 001 Y862 EFTA00200848 CLEARED THRCOGH nS WHCU.Y OWNED $UBSIDIAAY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE ZICHERMAN.IRA WM% uearstearns.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 6 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD' 3,905.215 NET CREDIT BALANCE 383.017 11111111111111111 I I JEFFREY EPSTEIN CIO FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK OUATER B-3 ST THOMAS VI 00802 Market Value of Your Portfolio Cash 8 Equivalent —ff ili Kozo 3375.461 $383.017 Equines — NET EQUITY THIS PERIOD $4.288.232 NET EQUITY LAST STATEMENT 4.294.063 CHANGE SINCE LAST STATEMENT -5.832 'MS portfolio mcludos an of moro wafted seculars rat me not related mix Taal *foe of Semabos and Om Na (poly Ths Para& There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Ple.mie mood oaf dilbronoe a pontoon:1 of crocks or mocks, macolod as do/AM lo To Gant Sonic*. of 800044428: a ono lo clam Santos a Boa. Stan &conics Coup.. Co. lAelmk•di Carla North. 13rooN>n, NY 11201.3859 Current market wdue ME Last statements market value $3.906,215 $3.918.612 1308f.SleaMS SOOYMild Can Ono Matotech Coma Noah Oftelgn. New Yak 1120/3859 JEFFREY EPSTEIN STATEMENT PERK) Jul/ 1.2004 THROUGH J111/ 30.2004 ACCCUNT NUMBER TAXPAYER NUMBER On Pus LAST STATEMENT June 30.2004 nakemwmqmgor elicHeMoncl dowses ally. rc4 Mended as a Um docmvert 13 4 Iles solemn sheaf Es retained for your records See revers* sale for Malan rdormmon 027 07,31.04:08:41 001 vase EFTA00200849 CLEARED 'THROUGH ns WI$OUV OMIE0 SUBSIOIARY 808r. Saee•ns Secoalkl COO. Ore lActsolech Cantot North Brocklln• New VC* 11201.3859 JEFFREY EPSTEIN 2 or e STATEMENT BACKER IS PRINTED ON THIS PAGE 027 07310408:01 001 V858 EFTA00200850 CLEARED 1HRWGH vnsOUv O"EO SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York. New York 10179 3 ci Cash Flow Analysis Income Summary THIS PERIOD TIC PERIOD YEAS TO DATE OpeningBalance $375,451.48 Dividends 7.351.60 54.248.78 Credit Balance Int. 213.49 462.30 Dividends/Interest 7.565.09 Total $7.565.09 $54,711.08 Amount Credited $7,565.09 Net Cash Activity 7.565.09 Closing Balance $383,016.57 Portfolio Composition Cash/Cash Equivalent 383.O17 Equities 3.905.215 Cash Balance Summary Total $4.288.232 Beer. SZeirns Sec , 14,1 SNP Ore Mem:tech Cola North Beccidon. New To* 112013959 JEFFREY EPSTEIN STATEMENT PERIOD Juk 1.2004 THROUGH Ju, 30.2000 ACCCUNT NUMBER TAXPAYER KAISER On File LAST STATEMENT June 30.2004 OPERAND CLO3III5 Cash 375,451.48 383.016.57 Net Cash Balance $375,451.48 $383,016.57 Your Portfolio Allocation 027 0a3104O6:41 001 Cash & EquwaleM at: — Equities 92% Untivoecl prow,' cantle debt babnce Amite shat male wive, TN/ elocabco percemys Oe•ue0 Icon to Op1$.ho emrst0 Mu0 in soy nano» Y858 EFTA00200851 CLEARED THROUGH ITS niCkLY CAMEO SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCFDPTION CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $383.017 SYMBOLCUSIP MARKET ESTIMATED CURRENT QUANTITY PRICE VALUE *NS INCOME YELO DU 383.017 EQUITIES Beer. SZeirhs SOC,r44,1 Cory. 0 -41km:tech Center North Beccidon. New Ye* 11201.3869 JEFFREY EPSTEIN STATEMENT PERIOD Juk 1.2004 THROUGH Juk 30.2004 ACCOUNT NUMBER TAXPAYER MASER On Fee LAST STATEMENT June 30.2004 Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firms Equity Research Department. The first rating represents the stock's total return relative to the other stocks covered by that Analyst, The key for the stock rating values is as follows: 0 = Outperform; P = Peer Perform; U = Underperform, The second rating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and their rating may also be displayed. where such research is available. The various providers have normalized their ratings systems as follows: B = Buy; H = Hold; S = Sell, The ratings information contained herein is for informational purposes only and is not intended to provide tax, legal or investment advice, Bear Steams is neither soliciting any action based on such information, nor endorsing any recommendation or opinion expressed by any independent, third-party research provider. The symbol indicates that continuing coverage of the subject company is temporarily not available due to legal reasons, Independent, third party research on certain companies covered by the Firm's research is available to customers of Bear Steams at no cost, Customers can access this research at wmv.bearsteams.com or can call (800) 517-2327 to request that a copy of this research be sent to them. DESCRPRON CANHORN CHEMICAL CORP ?OCT MARKET ESTIMATED CURRDIT SYMBWCUSIP IYPE OUANnTY PRICE VALUE ANKIAL INCOME YEW l%) CNCPF CASH 19 Unpriced FELCOR LODGING TRUST INC FCH CASH 2,000 11.4000 22.800 BSC RATING: STOCK U/SECTOR MW GREEN STREET ADVISORS. INC. RATING: S GLENBOROUGH REALTY TRUST INC GLB CASH 2,000 18.2800 36.560 2.800 7.6586 BSC RATING: STOCK P(SECTOR MW SABRIENT SYSTEMS. L.L.C. RATING: H 027 07)3104:06:41 001 ?WA EFTA00200852 CLEARED THROUGH nS OM t,E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 5 vi Beer. SZetrns SON, 14,1 GNP. Ore Metsolmh Oardm North Seccidon. New To* I1201.3659 JEFFREY EPSTEIN STATEMENT PERIOD Juk 1.2004 Your Portfolio Holdings (continued) Equities & Options (continued) ACC, DESORPTION SYMBOUCLISIP TrPE MIAOW PRCE IMRICE1 VALLE ESTEACIED ANNUAL MOVE THROUGH Ju, 30.2004 ACCOUNT NUMBER TAXPAYER MASER On File LAST STATEMENT June 30.2004 CURFEW YELD GLIMCHER REALTY TRUST-SS! GRT CASH 2,000 21.6600 43.320 3,846 8.8781 HRPT PROPERTIES TR-SRI HRP CASH 10.000 10.0700 100,700 8,400 8.3416 HOSPITALITY PROPERTIES TRUST HPT CASH 2.000 39.8800 79.760 5,760 7.2217 SBI JOHNSON& JOHNSON JNJ CASH 57.800 55.2700 3.194.606 65.892 2.0626 BSC RATING: STOCK PiSECTOR MW BUCKINGHAM RESEARCH RATING: H KRAMONT REALTY TRUST KRT CASH 2,000 15.9000 31.800 2.600 8.1761 PAN PACIFIC RETAIL PROPERTIES PNP CASH 436 50.6000 22.062 946 4.2879 INC PENNSYLVANIA REAL ESTATE PEI CASH 1,794 34.8700 62.557 3.875 6.1944 INVESTMENT TRUST-SBI RAMCO GERSHENSON PROPERTIES RPT CASH 12.000 25.7100 308.520 20.160 6.5344 TRUST-MD SBI SIRIUS SATELLITE RADIO INC SIR! CASH 1,000 2.5300 2.530 BSC RATING: STOCK PiSECTOR MW ATLANTIS RESEARCH RATING: H Total Equities& Options $3.905.215 $114.279 TOTAL EQUITIES $3.905.215 $114.279 YOUR PORTFOLIOHOLOINGSESTIMATED ANNUAL INCOME $114,279 YOUR PRICED PORTFOLIOHOLDINGS 54,288.232 027 07,31D4:08:41 001 V858 EFTA00200853 CLEARED THRWGH ITS vniCkLY OW•E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 6 Transaction Detail DIVIDENDS Beer. SZeirns SON, 14,1 COO. Cc* Mevolech Cantm North BecciOon. New VC* 11201.3855 JEFFREY EPSTEIN STATEMENT PERIOD Juk 1.2004 THROUGH Juk 30.2004 ACCCUNT NUMBER TAXPAYER WEBER On File LAST STATEMENT June 30.2004 DATE DESORPTION SYMBOUCUSIP GUMMY RATE MI DEBIT AMOUNT CREDO AMOUNT 07/01/04 RAMCO GERSHENSON PROPERTIES APT 12,000 0.4200 5.040.00 TRUST-MD MI REC 06/20/04 PAY 07/01/04 07/15/04 GLENBOROUGH REALTY TRUST INC GLB 2,000 0.3500 700.00 REC 07/01/04 PAY 07/15/04 07/15/04 GLIMCHER REALTY TRUST-SBI GAT 2,000 0.4808 961.60 REC 06/30/04 PAY 07/15/04 07/22/04 KRAMONT REALTY TRUST KAT 2,000 0.3250 650.00 REC 0612904 PAY 07/22/04 TOTAL $7,351.60 INTEREST DATE CESCRIPTION 07/21/04 'NM ACCT OIT BALANCE AT 00, 1 - 07/20 TOTAL STME/WCUSIP OUANTITT RATE I ceen AMOUNT CREDIT AMOUNT 213.49 $213.49 End of Statement 027 07,31D4:08:01 001 V858 EFTA00200854 CLEARED 1HRCO3H ITS WHOU.Y OWNED SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York New York 10179 ACCOUNT EXECUTIVE TELEPICCE VISIT OUR WEBSITE ZICHEHMAN.IRA wiew.uentearrs.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 4 Transaction Detail 5 Your Messages 7 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD' 3.918.612 NET CREDIT BALANCE 375.451 NET EQUITY THIS PERIOD $4.294.063 NET EOUITY LAST STATEMENT 4.280.455 CHANGE SINCE LAST STATEMENT 13.609 'Ms portfolio melodies ono or mom urpelcod socurnos rat me as relecIed rite TOM Wee of Sowings and the Na Ewe/ nw Penal There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. II JEFFREY EPSTEIN CIO FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK OUATER B-3 ST THOMAS VI 00802 Market Value of Your Portfolio Cash 8 Equvalent $375,451 ST 08.113 Equities Nemo mood ant clIforonoe a rontocoig of totes or Mocks. or:Pooled as darts lo p5u. lo GAN Senior; al 80004-1428: a yet* to ChM Sank.. M Boor. Steam &conies Coup.. One lActokKli Carte, North. 0,o Nn. NY. I wol ears $3.918.612 $4,172,342 Current market Ya_ue ME Last statements market value 8081. SOMAS Segyllild Corp. Ono Meettech Center Noah Breeklgn. New Ywk 1120/.3859 JEFFREY EPSTEIN STATEMENT PERK* May 29.2004 THROUGH June 30.2004 ACCOUNT NUMBER TAXPAYER WEISER Co File LAST STATEMENT May 28.2004 St TM. ssermarY forreconabona osmoses only Is not Mended as a lit donned Iles scatemers shood be reamed for your records Su worn ssfs for mama stoma= 027 07,0104:13:31 001 Important Message Confirmation: Unless we hear from you to the contrary. it is our understanding that any free credit balances in your account are being maintained to facilitate your intention to invest such amounts through us. van EFTA00200855 CLEARED 1HROUGH RS YrisekLY 0"E0 SUBSIDIARY Beer. Saea•ns SON, t4,1 COO. Ceol.letsolech Cantot North Beoeklln• New Ye* 1120/3859 JEFFREY EPSTEIN 2 or e STATEMENT BACKER IS PRINTED ON THIS PAGE 027 OL0Ltl0:13:31 001 Y832 EFTA00200856 CLEARED 1HRWGH YrisC5LY 005.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 3 Cash Flow Analysis THIS PERIOD Income Summary DC MECO YEAR TO DATE Opening Balance $108.112.58 Dividends 17.678.29 46,897.18 Credit Balance Int. 63.36 248.81 Securities Sold 249,597.25 Total $17,741.65 $47.145.99 Dividends/Interest 17,741.65 Amount Credited $267,338.90 Net Cash Activity 267,338.90 Portfolio Composition Closing Balance $375,451.48 CastirCash Equivalent 375,451 Equities 3.918.612 Total $4,294,063 Cash Balance Summary OPERUG CLOSMG Cash 108.112.58 375,451.45 Your Portfolio Net Cash Balance $108.112.58 $375,451.48 Allocation Beer. Szea•rs S00,440 COO. Ore Mevoiech Cantof North Betatron. New To* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD May 29.2004 THROUGH June O. 2004 ACCCUNT NUMBER TAXPAYER WESER On File LAST STATEMENT May 28.2004 027 07)01,04:13:31 001 C350 & EquYalErlt 8% — Equities 92% Unthylecl potions ocnoto debt bobnce omit. Owl male vela, T e elocabco peecenlar is (le•ued icon to obsoLte ....4,591 'due of yoto palioo 1832 EFTA00200857 CLEARED 1HROUGH ITS Yn10LLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCRPRON CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $375.451 SYMBOLCUSIP MARRS ESTIMATED CURPENT DUMMY PRICE YALU ANWOL INCOME YELD 375.451 EQUITIES Equities & Options [PESCI:0,110N SIMBOUCUSIP ACC! TYPE WANTON PRICE MARRE1 VALUE ESTRIATE0 ANNUAL INCOME CURRENT VELD I%) CANIORN CHEMICAL CORP CNCPF CASH 19 Worked FELCOR LODGING TRUST INC FCH CASH 2.000 12.1000 24.200 GLENBOROUGH REALTY TRUST INC GLB CASH 2.000 18.3500 36.700 2.800 7.6294 GLIMCHER REALTY TRUST-SBI GRT CASH 2.000 22.1200 44.240 3.846 8.6935 HRPT PROPERTIES TR-SBI HRP CASH 10.000 10.0100 100.100 8.000 7.9920 HOSPITALITY PROPERTIES TRUST HPT CASH 2.000 42.3000 84.600 5,760 6.8085 S81 JOHNSON& JOHNSON JNJ CASH 57.800 55.7000 3.219.460 65,892 2.0467 KRAMONT REALTY TRUST KRT CASH 2.000 16.0000 32,000 2.600 8.1250 PAN PACIFIC RETAIL PROPERTIES PNP CASH 436 50.5200 22,027 946 4.2947 INC PENNSYLVANIA REAL ESTATE PEI CASH 1.794 34.2500 61.445 3.875 6.3065 INVESTMENT TROST-S8I MASCO GERSHENSON PROPERTIES RPT CASH 12.000 24.2300 290.760 20.160 6.9336 TRUST-MD 027 07i01,04:13:31 001 Y832 Beer. SZeirhs SOC,r44,1 C0,0 0-41km:tech Center North Betatron. New Ye* 11201.3559 JEFFREY EPSTEIN STATEMENT PERIOD May 29.2004 THROUGH June SO. 2004 ACCCUNT NUMBER TAXPAYER SUMMER CR File LAST STATEMENT May 28.2004 EFTA00200858 CLEARED THRaiGH lis ?mew, OunED SUBSIDIARY BffiR STffiRNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 5 vi Your Portfolio Holdings (continued) Equities & Options (continued) ACCT MARKET ESTATATED CURPSNIT DESCRIPTION SYMBOUCuSIP PIPE OLIANTITY PACE VALLE ANNUAL INCOME YELD N SIRIUS SATELLITE RADIO INC SIRI CASH 1,000 3.0800 3.080 Total Equities& Options $3.918.612 $113.879 TOTAL EQUITIES $3.918.612 $113.879 YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $113.879 YOUR PRICED PORTFOLIOHOLDINGS $4.294.063 Transaction Detail INVESTMENT ACTIVITY SETTLEMENT TRADE DATE DATE TRANSACT/DN OESCRPTION SVM60,..CuSp 06.117104 06/14/04 SOLD TOO INC TOO UNSOUCIIED %TARDY Beef. SZetrns 00,8 Ceol,levalech Conte< North Beccidp. New Yetk 11201.3859 JEFFREY EPSTEIN STATEMENT PERM May 29.2000 THROUGH June 30.2004 Acccon NUMBER TAXPAYER MYKER On File LAST STATWENT May 28.2004 PRCE DEBIT AMOUNT CREDIT AhMuNT -1&600 16.06020 249.597.25 TOTAL $249.597.25 DIVIDENDS DATE DESCRSTION SINIOCIJCUSIP Gummy Mit ($3 DENT AMOUNT CREDIT AMOUNT 06.10EVO4 JOHNSON& JOHNSON JNJ 57.800 0.2850 16.473.00 REC 05.(l8+04 PAY 0610,2104 027 07,01.04:13:31 001 '41932 EFTA00200859 CLEARED THRWGH ITS WHOLLY OHBE0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York New York 10179 6 th/ Transaction Detail (continued) DIVIDENDS (continued) DATE DESCRPTION STMECLICWW DUMMY RATE (S1 06115/04 PAN PACIFIC RETAIL PROPERTIES PNP 436 0.5425 INC REC 092894 PAY 06/15.04 DEBIT AMOUNT Beer. Szeirns SON, t4,1 CND Dec MomNcA DAMN NOM Snxicon. New Yak I1201.38S9 JEFFREY EPSTEIN STATEMENT PERO) May 29.2004 THROUGH June SO. 2004 ACCOUNT NUMBER TAXPAYER MAYSER On File LAST STATEMENT May 28.2004 CREW AMOUNT 236.53 06/15/04 PENNSYLVANIA REAL ESTATE INVESTMENT TRUST-S8I REC 06/0194 PAY 06/15104 PEI 1.790 0.5400 968.76 TOTAL $17.678.29 INTEREST DATE OESCRPTION 06/21/04 INTE DIT BALANCE ACCT AT 00 1 - 06/20 STMOCIJCVSIP DUMMY RATE l%/ OEM( AMOUNT CREW AMOUNT 63.36 TOTAL $63.36 027 07)01,04:13:31 001 Y832 EFTA00200860 CLEARED THROUGH ITS ?RIMY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 7 Your messages ir&? Notice Regarding a Change in The Statement of Interest Charges Pursuant to the "Truth-in-Lending" Rule 10 (b)-16 Regarding Short Sales And Marking-To-The-Market Effective no earlier than thirty (30) days from your receipt of this statement, we will compute interest regarding your short sales and marking-to-the market as follows: fi e credit that appears on your statement due to short sales (including short sales against the box) is offset by a debit of like amount because Bear Steams Securities has to borrow the same security in order to deliver it to the buying broker and has to provide its lender additional collateral of up to 105% of the settled short market value of the borrowed securities to secure such loan. This means that the debit balance on which interest is computed will be the difference between (i) up to 105% of the settled short market value of such short sales (across all currencies), which shall be calculated daily, and (ii) the proceeds of such short sales, ra" Beer. Szeiree Secvehti Cap. OtoLlevalech Cana North Beccidon. New VC* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD May 29.2000 THROUGH June 30.2000 ACCOUNT NUMBER TAXPAYER AR/USER On File LAST STATEMENT May 28.2000 Any short positions in your account will be kept "marked-to-the market, This means that periodically the balance maintained in the short account will be adjusted to equal the market value of the short securities, Securities that are priced below five dollars per share may be valued at five dollars per share for short marking-to-the market purposes. If a security has been sold short (or sold short against the box) and has appreciated in market price over the selling price, interest will be charged on the amount of appreciation; if it depreciates in market price, interest will be correspondingly reduced by the drop in value, The appreciation or depreciation of securities sold short will be determined by Bear Steams Securities based upon daily dosing prices or quotations provided by pricing services, as applicable, or upon such factors as Bear Stearns Securities in its sole judgement deems pertinent, Please note that the other sections of the "Truth-in-Lending" disclosure previously provided to you remain unchanged, 027 07)01,04:13:31 001 Y832 EFTA00200861 CLEARED THROUGH ITS ?RIMY 0%M.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 8 Pursuant to the terms of the equity research settlement that was entered into by Bear Stearns and other major investment banks, we will soon make available to our customers, independent third-party research ('Independent Research'), at no cost, on the common stock of certain companies covered by the Firm's Equity Research Department ('Covered Company). Customers will be able to access this research at wwgv,bearsteams,com or can call (800) 517-2327 to request that a copy of this research be sent to them. Further, Bear Steams will notify certain of our customers, at the time of each solicited order to buy or sell the common stock of a Covered Company, of the availability of Independent Research, and will provide, on the confirmations and statements that are generated for these customers, the rating(s) on such Covered Company(s) by the Firm's Equity Research Department, as well as the corresponding rating(s) by the applicable Independent Research provider(s), where available. These notice provisions become effective in the near future and, to the extent applicable, will be included in your next monthly statement. Please note, Bear Stearns is not responsible or liable for (i) decisions relating to the procurement of Independent Research, (ii) Independent Research or its content, (iii) customer transactions, to the extent based on Independent Research, or (iv) claims arising from or in connection with access provided by the Firm and/or the inclusion of Independent Research ratings in trade confirmations, periodic account statements or vfimv,bearsteams.com. Bear Stearns is not required to supervise the production of Independent Research and has no responsibility to comment on the content of such Research. End of Statement Beer. SZeirns SON, t4,1 Cap. Cc* Mem:tech CarrIN North Beccidon. New Yak 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD May 29.2004 THROUGH June SO. 2004 ACCOUNT NUMBER TAXPAYER AMBER 011 file LAST STATEMENT May 28.2004 Please be advised of the following changes regarding account service fees: Beginning September 1, 2004, accounts will be subject to a $20.00 processing fee for each outgoing wire transfer and for each check issued by Bear Stearns at the request of a customer. You may wish to speak to your Account Executive to inquire about the availability of check writing privileges for your brokerage account. Beginning January 1, 2005, accounts will be subject to an annual account charge of $75.00 applicable for households that maintain less than $100,000 in net equity in related accounts or that generated less than $500 in brokerage commissions and/or fees paid to Bear Stearns in those accounts in the prior calendar year. 027 07)01,04:13:31 001 Y832 EFTA00200862 0 -EARED 1NRCOON ITS MOLLY OWNED SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York New York 10179 ACCOUNT EXECUTIVE TELEPECCE VISIT OUR WEBSITE ZICHERMAN.IRA omo..uenteams.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 3 Transaction Detail 5 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PERIOD' 4,172.342 NET CREDIT BALANCE 108.113 NET EQUITY THIS PERIOD $4.280.455 NET EQUITY LAST STATEMENT 4.170.996 CHANGE SINCE LAST STATEMENT 109.459 •This portfolio dud ao or more ureescoa wanes rat No ra related n to Total Yew of Seasbos and the Not Ewe/ This ahead There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. I I JEFFREY EPSTEIN CIO FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK OUATER B-3 ST THOMAS VI 00802 Market Value of Your Portfolio Cash & Equvalent $108.113 ti $104.629 Equates — Plo.vo tope ony drrororoo a ft:croon% of tacks or stocks. coacoiod as doltroral to you. to Gaol Sonic*. of 800134-1428: a at to ChM Swam a Bow. Seam &canes Cap.. Caw 1.1e*olea, Cool, North. Swear, NY 112014059 Current market vabe Last statement's market value 14.172.342 $.4.066.367 BM. Stearns SO.:At Cap. Ono Movotoch Conlin North Broddgn. Neer York 1120/3859 JEFFREY EPSTEIN STATEMENT PERK* May 1.2004 THROUGH May 28.2004 ACCOUNT NUMBER TAXPAYER NUMBER On Fee LAST STATEMENT April 30.2004 g ir tin smTaTarYNEor W0ORIB0rtal panes a Is fa rowed as a tag docwort 11n statemere skald be retained for your records Soo reverses,* tot Malan Samna% 027 052004:12:32 001 Yra31 EFTA00200863 CLEARED IHROUGH nS vriseklY 0"E0 S0BSIDIARY 808r. Saee•ns SON, t4,1 Oa0. Ore lActsolech Cora ot North Brocklln• New VC* 11201.3859 JEFFREY EPSTEIN 2 oi STATEMENT BACKER IS PRINTED ON THIS PAGE 027 052804:12:32 001 •real EFTA00200864 CLEARED THRWGH ITS niCkLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 3 Cash Flow Analysis Income Summary THIS PERIOD 116 PERIOD YEAR TO DATE Opening Balance $104.629.07 Dividends 3,440.00 29,218.89 Credit Balance Int. 43.51 185.45 Dividends/Interest 3,483.51 Total $3.483.51 $29,404.34 Amount Credited $3.483.51 Net Cash Activity 3,483.51 ClosingBatance $108,112.58 Portfolio Composition CastirCash Equivalent 108,113 Equities 4.172,342 Cash Balance Summary Total $4,280,455 Beer. SZeirns SOC,M4,1 COrP Ore Mebolech Centm North Becck/on. New To* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD May 1.2004 THROUGH May 28.2004 ACCCUNT NUMBER TAXPAYER WESER On File LAST STATEMENT AO 30.2004 OPOONG CLOSING Cash 104,629.07 108,112.58 Net Cash Balance $104,629.07 $108,112.58 Your Portfolio Allocation Your Portfolio Holdings CASH & CASH EQUIVALENTS COMPTON CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $108,113 SYMBOL'CUSIP MARKET ESTIMATED CURRENT OUANTITY PRICE VALUE PANUPL INCOME VELD ITN 108.113 027 052900402:32 001 Cash 8 EqMalent 2% I— &rites 98% Unteulecl preens emcee debt beionce emit, shal ma lee veLeo TEc sloe bon percernor is deemed Iron tre etnaLte market value of .tv oak.), Y831 EFTA00200865 CLEARED THROUGH ns ?mow, OMNE0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Your Portfolio Holdings (continued) EQUITIES Equities & Options Dt,.LP ifiu SYMBOUCUSIP ACCT IYPE °IMPIETY PRCE MARKET VALLE ESTIMATED ANNUAL INCOME CURRENT YEW DA/ CANICRN CHEMICAL CORP CNCPF CASH 19 Worked FELCOR LODGING TRUST INC FCH CASH 2,000 10.6400 21,280 GLENBOROUGH REALTY TRUST INC GLB CASH 2,000 19.0100 38,020 2,800 7.3645 GLIMCHER REALTY TRUST-SSI GRT CASH 2,000 22.3300 44,660 3,846 8.6117 HRPT PROPERTIES TR-SBI HRP CASH 10.000 9.8500 98.500 8.000 8.1218 HOSPITALITY PROPERTIES TRUST HPT CASH 2.000 40.9300 81.860 5.760 7.0364 SBI JOHNSON& JOHNSON JNJ CASH 57.800 55.7100 3.220.038 65.892 2.0463 KRAMONT REALTY TRUST KRT CASH 2.000 16.1200 32.240 2.600 8.0645 PAN PACIFIC RETAIL PROPERTIES PNP CASH 436 46.0000 20.056 946 4.7168 INC PENNSYLVANIA REAL ESTATE PEI CASH 1.794 33.3000 59,740 3.875 6.4864 INVESTMENT TRUST-S8I MASCO GERSHENSON PROPERTIES RPT CASH 12.000 24.2000 290.400 20,160 6.9421 TRUST-MD SW SIRIUS SATELLITE RADIO INC SIRI CASH 1.000 3.0000 3.000 TOO INC TOO CASH 15.600 16.8300 262,548 Total Equities& Options $4.172,342 $113,879 TOTAL EQUITIES $4.172,342 $113,879 Beer. SZeirns SON, 14,1 CO ,P Ore Mem:tech Contm North BecciCon. New VC* 112012859 JEFFREY EPSTEIN STATEMENT PERIOD May 1.2004 THROUGH May 28.2004 ACCCUNT NUMBER TAXPAYER PANSER On File LAST STATEMENT *11 30.2004 027 052900402:32 001 Y831 EFTA00200866 CLEARED THROUGH ITS 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Non York 10179 5 v/ Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $113.879 YOUR PRICED PORTFOLIOHOLDINGS $4,280,455 Transaction Detail DIVIDENDS DATE DESORPTION STMBOLCUSIP WNW( RATE (5) 05.120/04 HOSPITALITY PROPERTIES TRUST HPT 2.000 0.7200 881 REC 05104104 PAY 05120/00 DEBIT AMOUNT Beef. Neon Seceebel COO. 0-41km:tech Cella North Beccidon. New Ye* II2DI.38S9 JEFFREY EPSTEIN STATEMENT PERIOD May 1.2004 THROUGH May 28.2000 ACCCUNT NUMBER TAXPAYER WESER OR File LAST STATEMENT *11 30.2004 CREDIT AMOUNT 1,440.00 05/24/04 HRPT PROPERTIES TR-SBI REC 04/23104 PAY 05124/00 HRP 10.000 0.2000 2.000.00 TOTAL $3.440.00 INTEREST DATE DESORPTION lilt 05/21/04 INTE EDIT BALANCE ACCT MOO. . /21 - 05/20 TOTAL SYMEICUCUSIP OWertITY RATE l:4 CEBU AMOUNT CREDIT AMOUNT 43.51 $43.51 027 03,2204:12:32 001 Y831 EFTA00200867 CLEARED THROUGH nS WHOU.Y OWNED SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York• Nee York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE LICHERMAN.IRA 61A1 bear st earrts.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 3 Transaction Detail 5 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PER/OD' 4,066.367 NET CREDIT BALANCE 104.629 NET EQUITY THIS PERIOD $4.170.996 NET EQUITY LAST STATEMENT 4.151.089 CHANGE SINCE LAST STATEMENT 19.907 Mid portfolio melodies ao or mom urpelced moats rat me at miocted mix TOM Wu, of Semabos and Um Net (poly Tin Penal There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. I I 11111111111111111 JEFFREY EPSTEIN CIO FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK OUATER B-3 ST THOMAS VI 00802 Market Value of Your Portfolio Cash S Equvalent $104.629 i4 $97.235 Equities — Ple.mir moon ony Oferonoe a pontoon :1 of crocks or socks. mdicolod as &Mena lo you. TO Clani Sone*, of 8001344128: a ymto lo CNN Sento. at Boot Stowe &conies Cap.. One Lleholtmh Coolly North. BrooMyn, NY 112014859 Current markel vane sm Last statements market value 84.066.367 54.053.854 Bear. Steams Scants Corp. Ono Meettech Center Noah Elrecklgn. New Vod' 11201.3869 JEFFREY EPSTEIN STATEMENT PERK* AO I. 2004 THROUGH April 30.2004 ACCOUNT NUMBER TAXPAYER NUMBER On File LAST STATEMENT March 31.2004 et ITekeuTommYmiel mkonaMINI wpm, coly B is TO nand as sum Poona Tin sinews shard be Mama for nor records Soo worn scAr for mortars Adamson 027 05101r04:13:17 001 V830 EFTA00200868 CLEARED 1HRCO3H nS WHOLLY OWNED SUBSIDIARY BOB,. SOMAS SeaNIM Cw0. Ono Llevotech Center Hann BreaIgn. Hew Ywk 11201.3859 JEFFREY EPSTEIN 2 al IS STATEMENT BACKER IS PRINTED ON THIS PAGE 027 OSn1100:13:17 001 V830 EFTA00200869 CLEARED THROUGH ITS niCkLY ODPEO SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 3 Cash Flow Analysis Income Summary THIS PERIOD NIS PERIOD YEAR TO DATE Opening Balance $97.235.43 Dividends 7.351.60 25,778.89 Credit Balance Int. 42.04 141.94 Dividends/Interest 7,393.64 Total $7.393.64 $25,920.83 Amount Credited $7.393.64 Net Cash Activity 7.393.64 ClosingBatance $104,629.07 Portfolio Composition CashtCash Equivalent 104.629 Equities 4.066.367 Cash Balance Summary Total $4,170,996 Beer. SZeIrns SOC,nbtl 004). Cc* Mem:leen Centet North Becck//n. New VC* 11201.3859 JEFFREY EPSTEIN STATEMENT PE1030 *4 1.2004 THROUGH April 30.2004 ACCOUNT NUMBER TAXPAYER WESER On File LAST STATEMENT Muth 31.2004 OPft.r,G CI PIG Cash 97,235.43 104,629.07 Net Cash Balance $97.235.43 5104.629.07 Your Portfolio Allocation Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCRP'1011 CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $104,629 SYSIBOLICUSIP MONET ESTIMATED GWENT OUMITITY PRICE VALUE AMMAL INCOME VELD IP4 104.629 027 05101/04:13:17 001 Cash & Eqevalent 2% 98% UnsPadatl potions deo* debt betance an5a ;Pal menet vacs. The Omaha, percemar clr/sed Item to absolute market value of sty ;roam V830 EFTA00200870 CLEARED THROUGH DS vniptiv OMNE0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Your Portfolio Holdings (continued) EQUITIES Equities & Options Dt,.LP ifiu SYMBOUCUSIP ACCT TYPE OUANTITY PRCE VALLE ESTIMATED ANNUAL INCOME CURFENT YEW DA/ CANICRN CHEMICAL CORP CNCPF CASH 19 UN:Kited FELCOR LODGING TRUST INC FCH CASH 2,000 10.0000 20,000 GLENBOROUGH REALTY TRUST INC GLB CASH 2,000 18.7900 37.580 2,800 7.4508 GLIMCHER REALTY TRUST-SBI GRT CASH 2,000 21.1500 42.300 3,846 9.0922 HRPT PROPERTIES TR-SBI HRP CASH 10.000 9.5500 95.500 8.000 8.3770 HOSPITALITY PROPERTIES TRUST HPT CASH 2.000 39.0800 78.160 5.760 7.3695 SBI JOHNSON& JOHNSON JNJ CASH 57.800 54.0300 3.122.934 65.892 2.1099 KRAMONT REALTY TRUST KRT CASH 2.000 15.8100 31,620 2,600 8.2226 PAN PACIFIC RETAIL PROPERTIES PNP CASH 436 43.9300 19,153 946 4.9392 INC PENNSYLVANIA REAL ESTATE PEI CASH 1.794 32.3500 58,036 3.875 6.6769 INVESTMENT TRUST-SBI MASCO GERSHENSON PROPERTIES RPT CASH 12.000 23.6800 284.160 7.896 2.7787 TRUST-MD SBI SIRIUS SATELLITE RADIO INC SIRI CASH 1.000 3.3000 3.300 TOO INC TOO CASH 15.600 17.5400 273.624 Total Equities& Options $4,066,367 $101.615 TOTAL EQUITIES $4,066,367 $101.615 Beer. SZeirns SON, t4,1 COO. Ore Mon:tech Corer North BecciOon. New VC* 112014869 JEFFREY EPSTEIN STATEMENT PERIOD PPM 1.2004 THROUGH April 30.2004 ACCOUNT NUMBER TAXPAYER PAIN3ER OTI File LAST STATEMENT MVO 31.2004 027 OS01104:13:17 001 V830 EFTA00200871 CLEARED THROUGH NS vAg21Y 005E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Nee York 10179 5 c/ Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $101.615 YOUR PRICED PORTFOLIOHOLDINGS 54.170.996 Transaction Detail DIVIDENDS 899. Szea•ns S00,440 Cap. Ore Mevolech Cantot North &Worn. New VC* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD April 1.2004 THROUGH April 30.2004 ACCOUNT NUMBER TAXPAYER NURSER On File LAST STATEMENT Minh 31.2004 DA'E OESCRIMON SYMEMCVSIP OVANDIY RATE III DEBIT AMOUNT CREDIT AMOUNT 04/15/04 GLENBOROUGH REALTY TRUST INC GLB 2.000 0.3500 700.00 REC 04/01104 PAY 04/15104 04/15/04 GLIMCHER REALTY TRUST-Sal GRT 2.000 0.4808 961.60 REC 03/31/04 PAY 04/15/04 04/20/04 RAMO GERSHENSON PROPERTIES RPT 12.000 0.4200 5.040.00 TRUST-MD SRI REC 03131104 PAY 04/20/04 0422/04 KRAMONT REALTY TRUST KRT 2.000 0.3250 650.00 REC 03/26/04 PAY 04/22/04 TOTAL 57251.60 027 050N04:13:17 001 V830 EFTA00200872 CLEARED THROUGH RS ?nuke', CAM,;(0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Non York 10179 6 c, Transaction Detail (continued) INTEREST DATE DeSCrWrION 04/21,04 INTEREST ONCREDIT BALANCE ACCT AT 00.111113:21 - 04/20 TOTAL SYMEMAUSIP MMMIN RATE I%) DEBIT AMOUNT Beet SZeirns Seoanks Cory. OtoLletsolech Cent og North Becck/on. New To* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD *41.2004 THROUGH April 30.2004 ACCOUNT NUMBER TAXPAYER NUNNER Cfl File LAST STATEMENT March 31.2004 CREDIT AMOUNT 42.04 $42.04 End of Statement 027 05,01:04:13:17 001 V830 EFTA00200873 CLEARED IH0000H ITS YilIOLLY 01W.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE ZIC,REHMAN.IRA eehw.uea'stearrs.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 3 Transaction Detail 5 Your Messages 6 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PER/OD' 4.053.854 NET CREDIT BALANCE 97.235 NET EQUITY THIS PERIOD $4.151.089 NET EOUITY LAST STATEMENT 4.275.042 CHANGE SINCE LAST STATEMENT -123.952 'Do p0(110110 dieludel ono or moro unload NeutODS rat we at reacted n ie Taal Yen of Smarms and tho Not Egoly TINS Penal There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. I I JEFFREY EPSTEIN CIO FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK OUATER B-3 ST THOMAS VI 00802 Market Value of Your Portfolio Cash 8 Equvalent 4 $97235 $62.123 Equities Memo capon oaf direranoe a contacted of crams or stocks. mataiod as Clatiefed to p5u. To CIIMI SONIC*: at 8001114-142e: a yea to Clam Sanas a Boot Stara &comas Coup.. One lArhokai Carla North. Broollyn, N Y 112014959 $4.053.&54 $4,192,919 Current market yoke ism Last statement's market value Bar. SleamS SOON*. Cad. Ono Matatech Corder Noah Back/in. Nee Yea 1120/3859 JEFFREY EPSTEIN STATEMENT PERK* Fulsome 28.2004 THROUGH March 31.2004 ACCOUNT NUMBER TAXPAYER NUMBER On File LAST STATEMENT FeblUaly 27.2004 t MNSMT•TerY is kt relaleelnal woo's, wry. k "leaded nate doomed Dos cute era ached ha reamed for your records Soo reverse seSt to, mortar< iiVOIMMKO 027 0•01.04:12:55 001 Y829 EFTA00200874 CLEARED 1HROUGH RS vrisekLY 0"E0 SUBSIDIARY Beer. SZeirns SON, t4,1 COO. Ceol.letioloch Cantot North Brock/on. New Volt 11201.3859 JEFFREY EPSTEIN 2 of STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0401,00:12:55 001 V829 EFTA00200875 CLEARED 1HRWGH ITS wisCsLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 3 Cash Flow Analysis THIS PERIOD Income Summary DC PERIOD YEAR TO DATE Opening Balance $82,122.74 Dividends 15,077.29 18,427.29 Credit Balance Int. 35.40 99.90 Dividends/Interest 15,112.69 Total $15,112.69 $18,527.19 Amount Credited $15,112.69 Net Cash Activity 15,112.69 Closing Balance $97,235.43 Portfolio Composition CastirCash Equivalent 97,235 Equities 4.053,854 Cash Balance Summary Total $4,151,089 Beer. SZeirns SeN•akl COO. Cc* Met:Meth CeMet North BecckSn. New VC* 112013859 JEFFREY EPSTEIN STATEMENT PERIOD February 28.2004 THROUGH Mardi 31.2004 ACCCUNT NUMBER TAXPAYER MAKER On File LAST STATEMENT February 27.2004 Ont. NG GLOMS Cash 82,122.74 97,235.43 Net Cash Balance $82,122.74 $97,235.43 Your Portfolio Allocation Your Portfolio Holdings CASH & CASH EQUIVALENTS COMMON CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $97,235 SMIBCL•CJSIP MARRS ESTIMATED CURRENT OUANTITY PRICE VALUE MNUAL INCOME VELD I%) 97.235 027 0.01.04:12:S6 001 Cash & Eqiivalent 2% I— &rites 98% UnsPadatl potions deo* debt Intanos any shal market vacs. The alocabs percemay.• is Cs•neU Ism ths absolute market value of sew ;roam V829 EFTA00200876 CLEARED THROUGH ITS vniCkLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 4 // 808f. SZeirns S0N, 14,1 Cory. O-41.1evoloch Contof North Beccioon. New Ye* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD Feemuy 28.2004 THROUGH March 31.2004 Your Portfolio Holdings (continued) EQUITIES Equities & Options ACCT DESCRPTION S1MBOUCUSIP DPE OUANIITY PRICE MARKET VALE ESTIMATED ANMJAL INCOIAE ACCCUNT NUMBER TAXPAYER WESER OR File LAST STATEMENT PeDruEuy 27.2004 CURFEW YELL/ 01) CANICRN CHEMICAL CORP CNCPF CASH 19 Unprited FELCOR LODGING TRUST INC FCH CASH 2.000 10.4200 20.840 GLENBOROUGH REALTY TRUST INC GI B CASH 2.000 22.3500 44.700 2.800 6.2640 GLIMCHER REALTY TRUST-S8I GRT CASH 2.000 27.1000 54.200 3.846 7.0959 HRPT PROPERTIES TR-SBI HRP CASH 10.000 11.3000 113.000 8.000 7.0796 HOSPITALITY PROPERTIES TRUST HPT CASH 2.000 46.4000 92.800 5.760 6.2069 S8I JOHNSON& JOHNSON JNJ CASH 57.800 50.7200 2.931.616 55.488 1.8927 KRAMONT REALTY TRUST KRT CASH 2.000 18.9000 37.800 2.600 6.8783 PAN PACIFIC RETAIL PROPERTIES PNP CASH 436 52.1000 22.716 946 4.1645 INC PENNSYLVANIA REAL ESTATE PEI CASH 1.794 37.6600 67,562 3.875 5.7355 INVESTMENT TRUST-S8I RAMCO GERSHENSON PROPERTIES RPT CASH 12.000 28.2000 338,400 7.896 2.3333 TRUST-MD SW SIRIUS SATELLITE RADIO INC SIRI CASH 1.000 3.4000 3,400 TOO INC TOO CASH 15.600 20.9500 326,820 Total Equities& Options $4.053,854 $91.211 TOTAL EQUITIES $4,053.854 $91,211 027 GIONO4:12:88 001 11829 EFTA00200877 CLEARED THROUGH RS 'roomy °Me> SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 5 vi Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $91.211 YOUR PRICED PORTFOLIOHOLDINGS $4,151.089 Transaction Detail DIVIDENDS Beer. SZeirns SeN•akl SOO. Ore Mevolech Cantm North Beccidon. New VC* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD February 28.2004 THROUGH Mardi 31.2004 ACCCUNT NUMBER TAXPAYER WESER On File LAST STATEMENT PeDruEuy 27.2004 DATE CESCRIPTION STMEICLACVSIP CA:AMU RATE (5) MEAT AMOUNT CREDIT AMOUNT 03/09/04 JOHNSON& JOHNSON JNJ 57.800 0.2400 13.872.00 REC 02/17/04 PAY 03/09.04 03/15/04 PAN PACIFIC RETAIL PROPERTIES PNP 436 0.5425 236.53 INC REC 02/27/04 PAY 03/15/04 03/15/04 PENNSYLVANIA REAL ESTATE PEI 1.794 0.5400 968.76 INVESTMENT TRUST-SEII REC oainvo4 PAY 03/1504 TOTAL $15.077.29 027 040104:IVA 001 EFTA00200878 CLEARED THROUGH ITS YrisekLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 6 vi Transaction Detail (continued) INTEREST DATE OESCRINION 03/22/04 INTEREST ON REDIT BALANCE ACCT AT OD, 1 - 03,20 TOTAL STOW-0115PP OUANMY RATE I% DEBIT AMOUNT Beet Saea•ns Secaik1 COO. Dec Metsolech Cella North BecciOon. New Yee, 11201.3859 JEFFREY EPSTEIN STATEMENT PERI00 February 28.2004 THROUGH Mardi 31.2004 ACCCUNT NUMBER TAXPAYER MASSER On File LAST STATEMENT February 27.2004 CREDIT AMOUNT 35.40 $35.40 Your messages LW' Excess SIPC Account Protection Update Effective February 16, 2004, the commercial insurer through which Bear, Steams Securities Corp. obtains excess SIPC protection changed to Customer Asset Protection Company MAPCO", a New York licensed insurance company. CAPCO has an A+ financial strength rating from Standard and Pools, Bear. Steams Securities Corp. Net Capital and Net Capital Requirements: At November 30, 2003 and January 31, 2004, the Company's net capital of approximately $3.3 billion and $3,2 billion was approximately 7% and 7% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately $930,3 million and $967,8 million by approximately $2.4 billion and $2,2 billion, all respectively. A complete copy of the Bear, Steams Securities Corp. Statement of Financial Condition is available on the web site wabearsteams.com. Alternatively, to request a free printed copy please call • toll free 1.866.299-9331. 027 0801,04:1255 001 Y829 EFTA00200879 CLEARED THROUGH ITS ?RIMY CAM•E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 7 vi The Firm believes it is of the utmost importance that clients who purchase or hold mutual funds fully understand the intricacies of the pricing structures and rules which govern these investments, Recently, a pint Industry/NASD Task Force collaborated to create a Disclosure Statement to address these issues, We are providing this Disclosure Statement to you for the purpose of reinforcing these concepts and to initiate the opportunity for further discussion of these issues to the extent you have questions, You are encouraged to contact your financial professional with any questions you have regarding your investments, Additionally, you may review this information online at the following NASD web site: http://vvw,nasdr,com/breakpoints_statement,asp End of Statement 027 04101104;12:68 001 Beet. Saea•ns SON, t4,1 Cap. OtoLletiotech Cella North 0eock11n. New Tuk 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD February 28.2004 THROUGH Mardi 31.2004 ACCOUNT NUMBER TAXPAYER KAMER On File LAST STATEMENT February 27.2004 V629 EFTA00200880 CLEARED IHRCOGH nS WHOLLY OWED $UBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE ZIC,REHMAN.IRA ie w.uea'stearns.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 3 Transaction Detail 5 Your Messages 6 Your Portfolio at a Glance TOTAL VALUE OF SECURITIES THIS PER/OD' 4,192.919 NET CREDIT BALANCE 82.123 NET EQUITY THIS PERIOD $4.275.042 NET EQUITY LAST STATEMENT 4.167.113 CHANGE SINCE LAST STATEMENT 107.929 'Rs portfolio odudes ono of mom unwed socurnes ma me not related n Iv Taal Wu, of Sectabos and We Na &nay nn Para& There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. 11.1 MI111111111 I I JEFFREY EPSTEIN CIO FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK OUATER B-3 ST THOMAS VI 00802 Market Value of Your Portfolio Cash 8 Equivalent 1 $ $82.123 80.089 Equities — Fle.o• noon oaf Mann a nantoceig of tooks or mocks. noicand as doltraoa 10 Ica. Glom Sonion 8006144428: a vet lo Clam Eamon a Boot Room Sccumas Cap.. One 1.10o1ali Calla Nam. 13codbn, NY 112014859 Current market value Efil Last statement's market value 14.192.919 $4.087.024 ass.. Stearns SOOoilitd Corn. Ono Matotoch Center Hone OreckIgn. Nev Ywk 1120/3859 JEFFREY EPSTEIN STATEMENT PERIOD January 31.2004 THROUGH February 27.2004 ACCOUNT NUMBER TAXPAYER NUMBER OH File LAST STATEMENT January 30.2004 t nee swworYrsger Weanatanal pLeposes oily EH not fended anti. downed Dee stewed shale be Maned for your records Soo renew sea for Hewlett edormaeco 027 021804:11:V 001 Y828 EFTA00200881 CLEARED 'THROUGH ns WI$OUV OMIE0 SUBSIOIARY 808r. Saee•ns Secoalkl COO. Ore lActsolech Cantot North Brocklln• New VC* 11201.3859 JEFFREY EPSTEIN 2 or e STATEMENT BACKER IS PRINTED ON THIS PAGE 027 022804:11:57 001 Y828 EFTA00200882 CLEARED THRWGH ITS niCkLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 3 c, Cash Flow Analysis THIS PENCO Income Summary DC PERIOD YEAS TO DATE Opening Balance $80,088.52 Dividends 2,000.00 3,350.00 Credit Balance Int. 34.22 64.50 Dividends Interest 2,034.22 Total $2,034.22 $3,414.50 Amount Credited $2.034.22 Net Cash Activity 2,034.22 ClosingBatance $82,122.74 Portfolio Composition CastirCash Equivalent 82.123 Equities 4.192.919 Cash Balance Summary Total $4,275,042 Beer. Szekrs Sec.r.ter Core Ore Mebalech Centm North eeccidon. New To* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD January 31.2004 THROUGH PebniEliy 27.2004 ACCOUNT NUMBER TAXPAYER AMMER On Ale LAST STATEMENT January 30.2004 Ore. nG CLOSING Cash 80.08&52 82,122.74 Net Cash Balance $80.088.52 $82.122.74 Your Portfolio Allocation Your Portfolio Holdings CASH & CASH EQUIVALENTS COMMON CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $82,123 SYMBOL'CISIP MARRS ESTIMATED CURREN! OUANTITY PRICE VALUE krevux INCOME Yell:11k4 82.123 027 0228,04:11:57 001 Cash & Equrea!eni IPv — Equities 99% Untaglecl proems deo* debt Wane" omit, OM male vaLea The Omar, percernar is Oe•ue4 Iron tre ebselAe marital value of LUGS palkno Y828 EFTA00200883 CLEARED THROUGH ns vngxlv ONIE0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Beer. SZeirns SOC."444 C04‘ Ore Momtech Cent“ North Beccidon. New Ye* 112012859 JEFFREY EPSTEIN STATEMENT PERO) January 31.2004 THROUGH Pebniaiy 27.2004 Your Portfolio Holdings (continued) EQUITIES Equities & Options ACCT Dt:..LP Qu SYMBOUCUS1P TYPE *JAUNTY PRCE MARKET VALLE ESTIMATED ANNUAL iNCOIAE ACCOUNT NUMBER TAXPAYER WESER 01P114 LAST STATEMENT January 30.2004 CURFEW YEID1,4 CANICRN CHEMICAL CORP CNCPF CASH 19 Worked FELCOR LODGING TRUST INC FCH CASH 2,000 10.7400 21.480 GLENBOROUGH REALTY TRUST INC GI B CASH 2,000 21.0000 42,000 2,800 6.6667 GLIMCHER REALTY TRUST-SBI GRT CASH 2,000 25.7700 51,540 3,846 7.4622 HRPT PROPERTIES TR-SBI HRP CASH 10.000 11.0800 110,800 8,000 7.2202 HOSPITALITY PROPERTIES TRUST HPT CASH 2.000 43.5000 87,000 5,760 6.6207 SBI JOHNSON& JOHNSON JNJ CASH 57.800 53.9100 3.115.998 55.488 1.7807 KRAMONT REALTY TRUST KRT CASH 2.000 19.6700 39,340 2.600 6.6090 PAN PACIFIC RETAIL PROPERTIES PNP CASH 436 49.5000 21.582 946 4.3833 INC PENNSYLVANIA REAL ESTATE PO CASH 1.794 36.4500 65.391 3.875 5.9259 INVESTMENT TRUST-SBI MASCO GERSHENSON PROPERTIES RPT CASH 12.000 27.9700 335.640 7.896 2.3525 TRUST-MD SBI SIRIUS SATELLITE RADIO INC SIRI CASH 1.000 2.9400 2,940 TOO INC TOO CASH 15.600 19.1800 299,208 Total Equities& Options $4,192,919 $91,211 TOTAL EQUITIES $4,192,919 $91,211 027 0228.04:11:57 001 Y828 EFTA00200884 CLEARED THRWGH ITS ?RIMY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, Non York 10179 5 c/ Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $91.211 YOUR PRICED PORTFOLIOHOLDINGS $4.275.042 Transaction Detail DIVIDENDS DrE DESCP PTION 02;23104 HRPT PROPERTIES TR-SBI REC 01:21.'04 PAY 02.2304 STMECIAUSIP HRP OVANTiTe RATE IS/ 10.000 0.2000 ceen AMOUNT Beer. Szeirns Secv, t4,1 COO. Ore Mevolech Contm North Beccidon. New Ye* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD January 31.2004 THROUGH February 27.2004 ACCOUNT NUMBER TAXPAYER AMBER OR PIM LAST STATEMENT January 30.2004 CREDIT AMOUNT 2.000.00 TOTAL $2.000.00 INTEREST DATE DESCRIPTION 02,23, ACCT 04 INTE EDIT BALANCE AT 00. % OW 1121 - 02,20 TOTAL $34.22 STAIDOLCUSIP OUNVTITY RATE I%/ cceiT AMOUNT CREDIT AMOUNT 34.22 027 022804:11:57 001 7828 EFTA00200885 CLEARED THROUGH ITS ?RIMY 0\11,.E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & CO. Inc. 383 Madison Avenue New York, Nen York 10179 6 c/ Your messages Excess SIPC Account Protection Update Effective February 16, 2004, the commercial insurer through which Bear, Steams Securities Corp, obtains excess SIPC protection changed to Customer Asset Protection Company MAPCO", a New York licensed insurance company, CAPCO has an Ai- financial strength rating from Standard & Pool's, End of Statement Beer. Neon Seceemr Dap. CcoMetsolech Contm North Beccidon. New Year 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD January 31.2004 THROUGH February 27.2004 ACCCUNT Nemesia TAXPAYER WESER On PIM LAST STATEMENT January 30.2004 027 022804:11:57 001 Y828 EFTA00200886 CLEARED THRCOGH ViHOU.Y OWNED SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York New York 10179 ACCOUNT EXECUTIVE TELEPHONE VISIT OUR WEBSITE LICHERMAN.IRA uearstearns.com What's In This Statement Financial Summary 3 Your Portfolio Holdings 3 Transaction Detail 5 Your Messages 6 Your Portfolio at a Glance 11111111111111111 I I JEFFREY EPSTEIN CIO FINANCIAL TRUST COMPANY ATTN JEANNE BRENAN 6100 RED HOOK OUATER B-3 ST THOMAS VI 00802 Market Value of Your Portfolio TOTAL VALUE OF SECURITIES THIS PERIOD' 4.087.024 Cash 8 Equvalent $8" 89 $69.695 NET CREDIT BALANCE 80.089 NET EQUITY THIS PERIOD $4.167,113 NET EQUITY LAST STATEMENT 4.074.108 CHANGE SINCE LAST STATEMENT 93.005 •rto p0010110 didudOS ono or mm unlaced SOCutOOS rat No rem selected r ro TON Varue of Seciabos and the PR4 (poly The Parrott There are no 'Stop Loss' orders or other pending buy or sell open orders on file for your account. Equities — P10.50 ream oaf dffororoo a morocco of finds or MOCKS, moron! as &Orono to p5u. lo Clem Sonion at 8006141428: a onto to nom SONIC.. a Boot Steam &comes Ca,.. One lAotrokKli Carlo. North. 13rooNri, NY 112014859. Current market value ME Last statement's market value 1.4.087.024 $4.004.413 Seer. Stearns SOMAS.) Corp. Ono Mottotech Confer Noah Bro.:Alin. New York 1120/3859 JEFFREY EPSTEIN STATEMENT PERIOD January 1.2004 THROUGH January 30. 2004 ACCOUNT NUMBER TAXPAYER NUMBER On Fee LAST STATEMENT December 31.2003 glIT 44. 0147 11644 011111110, HI papaws a rc4 handed as a 0. docterert 11.4 gaternera OHM be retained for your recant Su morn Sy Mar .Today Woman= 027 01,31.0449:43 001 Y824 EFTA00200887 CLEARED 1HROUGH RS WI$OUV 0"E0 SUBSIDIARY Beer. Saea•ns Secallkl COO. CcoMetioloch Cerra North Broeklln• New Ye* 11201.3859 JEFFREY EPSTEIN 2 or STATEMENT BACKER IS PRINTED ON THIS PAGE 021 0141.04:09:42 001 11824 EFTA00200888 CLEARED THRWGH ITS niCkLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179 3 ci Cash Flow Analysis Income Summary THIS PERIOD TIC PERIOD YEAR TO DATE Opening Balance $69.694.64 Dividends 1,350.00 1,350.00 Credit Balance Int. 30.28 30.28 Dividends/Interest 10,393.88 Total $1,380.28 $1,380.28 Amount Credited $10.393.88 Net Cash Activity 10,393.88 ClosingBatance $80,088.52 Portfolio Composition CashtCash Equivalent 80,089 Equities 4.087.024 Cash Balance Summary Total $4.167.113 Beer. Saea•ns SON4bel COO. Ore Meeselech Centet North Seccidon. New To* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD January 1.2004 THROUGH January 30.2004 ACCOUNT NUMBER TAXPAYER KINSER On File LAST STATEMENT December 31.2003 OPf,%nC CLOSIND Cash 69.694.64 80.088.52 Net Cash Balance $69.694.64 $80.088.52 Your Portfolio Allocation Your Portfolio Holdings CASH & CASH EQUIVALENTS MEGRIM(*) CASH BALANCE TOTAL CASH & CASH EQUIVALENTS $80,089 SYSIBOL'CUSIP IMAMET ESTIMATED CURRENT OUANTITY FAKE VALUE JAW& INCOME VELD 114) 80.089 027 014144:09:43 001 Cash 8, Equreaeni IPv — Equities 99% UnsPaded Potions deo* debt bebop, omit., OM meet vacs Ths Moab", percemne is clewed Item te absolute market value of >Ta palkno V824 EFTA00200889 CLEARED THROUGH ns mom," °MED SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New YY New York 10179 4 Beer. SZeirns SON, 14,1 CAP. Ore Mon:tech Contm North BecciOon. New VC* 11201.3559 JEFFREY EPSTEIN STATEMENT PERIOD January 1.2004 THROUGH January 30.2004 Your Portfolio Holdings (continued) EQUITIES Equities & Options ACCT Dt,.LP Qu SYMBOUCUSIP TYPE *JAUNTY PRCE MARKET VALUE ESTIMATED ANNUAL /COME ACCCUNT NUMBER TAXPAYER PAIN3ER On File LAST STATEMENT December 31.2003 CURRENT YEW DA/ CANICRN CHEMICAL CORP CNCPF CASH 19 Worked FELCOR LODGING TRUST INC FCH CASH 2,000 11.7500 23.500 GLENBOROUGH REALTY TRUST INC GI a CASH 2,000 19.4100 38,820 2,800 7.2128 GLIMCHER REALTY TRUST-SBI GRT CASH 2,000 25.1900 50,380 3,846 7.6340 HRPT PROPERTIES TR-SBI HRP CASH 10.000 10.6000 106.000 8,000 7.5472 HOSPITALITY PROPERTIES TRUST HPT CASH 2.000 41.8500 83.700 5.760 6.8817 SBI JOHNSON& JOHNSON JNJ CASH 57.800 53.4200 3.087.676 55.488 1.7971 KRAMONT REALTY TRUST KRT CASH 2.000 18.6000 37.200 2.600 6.9892 PAN PACIFIC RETAIL PROPERTIES PNP CASH 436 51.1100 22.284 889 3.9894 INC PENNSYLVANIA REAL ESTATE PO CASH 1.794 37.3600 67.024 3.875 5.7815 INVESTMENT TRUST-SBI MASCO GERSHENSON PROPERTIES RPT CASH 12.000 27.4200 329.040 7,896 2.3997 TRUST-MD SBI SIRIUS SATELLITE RADIO INC SIRI CASH 1.000 2.7200 2,720 TOO INC TOO CASH 15.600 15.3000 238,680 Total Equities& Options $4,087,024 $91,154 TOTAL EQUITIES $4,087,024 $91.154 027 0141.0409:43 001 v524 EFTA00200890 CLEARED THROUGH DS vmouv ONIEO SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & CO. Inc. 383 Madison Avenue New York, Nee York 10179 5 c/ Your Portfolio Holdings (continued) YOUR PORTFOLIOHOLDINGSESTIMATED ANNUAL INCOME $91.154 YOUR PRICED PORTFOLIOHOLDINGS $4.167.113 Transaction Detail DIVIDENDS DATE OESCRPTION 01/15:04 GLENBOROUGH REALTY TRUST INC REC 01/01/04 PAY 01/15/04 STMISCIAVSIP GLB OaNiire RATE (5) 2.000 0.3500 DEBIT AMOUNT Beer. SZeirns SON, 14,1 COO. CeoLlevelech Cella North Beccidon. New Yak 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD January 1.2004 THROUGH January 30.2004 ACCCUNT NUMBER TAXPAYER WESER On File LAST STATEMENT December 31.2003 OTEDIT AMOUNT 700.00 01/15/04 GLIMCHER REALTY TRUST-Sal CASH DIV ON 2000 MS REC 12/31103 PAY 01/15/04 AMOUNT INCLUDED ON 2003-1099 GRT 961.60 01/20/04 RAMCO GERSHENSON PROPERTIES RPT 6.612.00 TRUST-MD SI31 CASH DIV ON 12000 5115 REC 12/31103 PAY 01/20104 AMOUNT INCLUDED ON 2003-1099 01/22/04 KRAMONT REALTY TRUST REC 01/02104 PAY 01/22,04 KRT 2.000 0.3250 650.00 027 0141.04:09:42 001 EFTA00200891 CLEARED THROUGH ITS witekLY 0"E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & CO. Inc. 383 Madison Avenue New York, Nee York 10179 6 c/ Transaction Detail (continued) DIVIDENDS (continued) DATE DESCRPTION SY/MAI/SIP 01/30/04 HOSPITALITY PROPERTIES TRUST HPT SBI CASH DIV CH 2000 SHS REC 12/31103 PAY 01/30/04 AMOUNT ItCLUOED ON 2003-1099 °WPM' Beet Neon Seemeo Cory. 0-41km:tech Ow:1p North 0eock11n. New VC* 11201.3859 JEFFREY EPSTEIN STATEMENT PERIOD January 1.2004 THROUGH January 30.2004 AOCCUNT NUMBER TAXPAYER WESER On File LAST STATEMENT December 31.2003 RATE MI DEBIT AMOUNT CREDIT AMOUNT 1,440.00 TOTAL $10.363.60 INTEREST DATE DESCRIPTION 01/21/04 INTEREST ONCREDIT BALANCE V COTOMP2/21 - 01/20 TOTAL STMECtiCUSIP OUNTRITt RATE IPti DEW AMOUNT CREDIT AMOUNT 30.28 $30.28 Your messages Excess SIPC Account Protection Update Effective February 16, 2004, the commercial insurer through which Bear, Steams Securities Corp. obtains excess SIPC protection will change to Customer Asset Protection Company ('CAPCO'), a New York licensed insurance company. CAPCO has an A-P financial strength rating from Standard and Poor's. The interest, if any, charged to your account during December 2003 was computed on the net debit balance through December 30. The interest, if any, charged to your account during January 2004 is computed from December 31, 2003. 027 0112110409:49 001 EFTA00200892