EFTA01507066

05 12004 Account Number: FINANCIAL TRUST COMPANY INC Portfolio Summary Except lc. ate Deposit Account (I erected). end the cosh in your Asset Account which we inoint0 aspoon we ;JAWS none dine inyesanents related loin Misstatement of your Asset Account oncloMno mufti*l fonds. are FCC 'mind ct book Spools &nylons or of guaranteed by MACH «toyer on Pink Or Wet SS. (umits* Memos Malec() Such meanies en« «Mr orestrnents an ~Nato investrnent mks inducing possible »as cl de pianoel *mown neosteel See 7mpolent Informaton about )OW ..0ALISI lackerage Account's?! the end of Ms Mat Account ~so JPMorgan Chase Bank 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 JPMorgan Private Bank Page 4 of 78 Overview Cash & Short Term Equities Other Options Total Foreign Exchange Accrued Income Total Portfolio Value Current Market Waive US) May3I Prior Pertrin Marlow Moe USO Apr S0 Tax Cost USO Estimated Annual Income USO Heter % 83,997,122.82 44,046,049.07 83,963,741 34 727,607.61 0.9 13,465,312.74 14,033,368.12 0.0 - 3,757,741.98 43,883,275.14 0.0 - 5,467,207.26 - 5,384,132.62 - 1,586,179.06 N/A N/A 88,237,486.32 96,578,559.71 82,377,562.28 727,607.61 0.8 - 2,608.629.38 - 1,265,387.34 42,497.15 32,972.80 85,671,354.09 95,346,145.17 Asset Allocation 82% Cash and Short Term 14% Equities E l 4% Other Market value of Options is not induded in pie chart. Income Summary Dividends Total This Period USO 32,972.80 32,972.80 Year to Date USO 140,235.85 140,235.85 Net Gain/Loss Summary Reseed This Pen« USO Rearmed Yearns Mae USD• Unrealized use, Net Short Term Gain/Loss - 1,087,115.91 9,835,918.18 - 3,545,173.63 Net Long Term Gain/Loss - 302,473.08 Total - 1,087,115.91 9,835,918.18 - 3,847,646.71 'Year to date information is calculated on a calendar year basis. Exchange Rates Spot Rates as of May 31. 2004 Cunene), AUD EUR Exchange Rate 0.7136 1.2212 Confidential Treatment Requested by JPMorgan Chase CONFIDENTIAL JPM-SDNY-00032055 SDNY_GM_00301253 EFTA01507066