EFTA01553802

05 2004 Confidential FINANCIAL TRUST COMPANY INC Page 1 of 78 J.P. Morgan Portfolios May 1 - May 31, 2004 Table of Contents Page Account Summary Asset Account Portfolio Margin Account Portfolio Q 30171-00-5 JPMCB JPMSI 161121381 2 3 76 000000.0000.00.0000.000.000000000.000000 FINANCIAL TRUST COMPANY INC ATTN: JEFFREY E EPSTEIN C/O AMERICAN YACHT HARBOR 6100 RED HOOK, QUARTERS IBS ST THOMAS 00802 US VIRGIN ISLDS EFTA01553802 05 2004 FINANCIAL TRUST COMPANY INC Portfolio Summary May 01, 2004 - May 31, 2004 Page 2 of 78 Portfolio Summary Net Worth Summary Asset Portfolio USD Q 30171-00-5 Assets(Long) Cash S Short Term Equities Other Options Liabilities (Short) Other Options Total FX Gain/Loss Accrued Income Total Net Worth Income Summary Dividends Total 98,056,616.08 83,997,122.82 13,465,312.74 0.00 594,180.52 - 9,819,129.76 - 3,757,741.98 - 6,061,387.78 88,237,486.32 - 2,608,629.3842,497.15 85,671,354.09 Margin Portfolio USD 161121381 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 .00 0.00 0.00 98,056,616.08 83,997,122.82 13,465,312.74 0.00 594,180.52 - 9,819,129.76 - 3,757,741.98 - 6,061,387.78 88,237,486.32 - 2,608,629.3842,497.15 85,671,354.09 This Period 32,972.80 32,972.80 Year to Date 140,235.85 140,235.85 JPMorgan provides this Portfolio Summary for informational purposes. This summary includes informati on about assets held at JPMCB and JPMSI in accounts listed on the front page. Securities are not bank deposits or FDIC insured, are not obligations of or guaranteed by JPMCB or a ny of its bank of thrift affiliates (unless otherwise indicated), and are subject to investment risks, including possible loss of the pr incipal amount invested. Assets held in custody by JPMCB are not protected under the Securities Investor Protection Corporati EFTA01553803 on ("SIPC") insurance. Total USD EFTA01553804 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 3 of 78 Asset Account Portfolio May 1 - May 31, 2004 Table of Contents Portfolio Summary Cash and Short Term Equities Other Options Outstanding Foreign Exchange Contracts Trade Activity Account Transactions Account Officers D'ORAZIO/HORNAK Page 4 6 7 8 11 16 20 30 EFTA01553805 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 4 of 78 Overview Current Portfolio Summary Except for the Deposit Account (if elected), and the cash in your Asset Account, which are insured deposits with JPMCB, none of the investments referred to in this statement of your Asset Account, including mutual funds, are FDIC insured or bank deposits, obligations of or guaranteed by JPMCB or any of its bank or thrift affiliates (unless otherwise indicated). Such securities and other investments are subject to investment risks, including possible loss of the principal amount invested. See "Important Information about your JPMSI Brokerage Account" at the end of this Asset Account Portfolio. Asset Allocation 82% Cash and Short Term 14% Equities 4% Other Cash S Short Term Equities Other Options Total Foreign Exchange Accrued Income Total Portfolio Value Market Value USD May 31 83,997,122.82 13,465,312.74 - 3,757,741.98 - 5,467,207.26 88,237,486.32 - 2,608,629.38 42,497.15 85,671,354.09 Income Summary Dividends Total Net Gain/Loss Summary Net Short Term Gain/Loss Net Long Term Gain/Loss Total Prior Period Market Value USD Apr 30 44,046,049.07 14,033,368.12 43,883,275.14 - 5,384,132.62 96,578,559.71 - 1,265,387.34 32,972.80 95,346,145.17 This Period USD 32,972.80 32,972.80 Year to Date USD* 140,235.85 140,235.85 Tax Cost USD 83,963,741.34 - 1,586,179.06 82,377,562.28 Estimated Annual Income USD 727,607.61 Yield 0.9 0.0 0.0 EFTA01553806 727,607.61 N/A N/A 0.8 Realized This Period USD Realized Year to Date USD* - 1,087,115.91 - 1,087,115.91 Unrealized USD 9,835,918.18 - 3,545,173.63 - 302,473.08 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 Market value of Options is not included in pie chart. Currency AUD EUR Exchange Rate 0.7136 1.2212 EFTA01553807 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 5 of 78 Exchange Rates Spot Rates as of May 31, 2004 Currency GBP HKD HUF JPY NZD THB TWD Exchange Rate 1.8333 7.7939 205.9944 110.5250 0.6284 40.5700 33.3250 EFTA01553808 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 6 of 78 Cash and Short Term Summary by Maturity Current Market Value USD Cash Total 83,997,122.82 83,997,122.82 Estimated Annual Income USD 727,607.61 727,607.61 Current yield is displayed for instruments with no maturity and YTM on market is displayed for instr uments that mature. Cash and Short Term by Type Description Cusip/S&P/Moody's Rating Cash JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) 7-Day Annualized Yield: .94% P N ZEALAND DOLLAR POUND STERLING Total Cash USD 77,735,855.77 1.00 1.00 77,735,855.77 77,735,855.77 42,497.15 NZD GBP 9,964,616.52 0.14 0.625000 1.785714 0.62835 6,227,885.32 0.25 83,963,741.34 6,261,266.79 0.26 83,997,122.82 42,497.15 33,381.47 0.01 33,381.48 727,607.61 0.94 Currency/ Unit Cost Adjusted Account Type Quantity Original Market Price Tax Cost Adjusted Original Market Value USD Accrued Interest USD Unrealized Gain/Loss USD Estimated Current Annual Yield/ Income USD YTM 4 EFTA01553809 Current N/A N/A 727,607.61 0.87 EFTA01553810 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 7 of 78 Equities Equity Holdings in Alphabetical Order Description Cusip/Symbol CurrenCyi Account Type Quantity unit Cost Current Market Price Tax Cost Current Market Value USD USD Accrued Dividends USD Estimated Unrealized Gain/Loss USD Annual Dividend Income USD Yield TOO INC 890333-10-7 TOO 800,078 are liened USD Total Equity 800,078 800,078 16.83 13,465,312.74 13,465,312.74 N/A 0.00 N/A 0.0 EFTA01553811 05 Other Swaps in Alphabetical Order Description WALT DISNEY CO EQUITY SWAP 24,954,900 USD NOTIONAL JAN 19 2005 DEAL REF f 2353480 SWPBDA-FL-1 N/0 Client WALT DISNEY CO TOTAL RETURN SWAP 11,920,650 USD NOTIONAL FEB 14 2005 DEAL REF f 2361214 SWPBDA-FV-9 N/0 Client INTEREST RATE SWAP 10,000,000 AUD NOTIONAL 3/9/2014 REC:FIXED RATE 5.72% AUD SEMI-ANNUAL PAY: FLOATING RATE AUD 3 MONTH BANK BILL RATE ACTUAL/365 SWPBDA-GV-8 N/0 Client - 270,021.00 - 240,880.55 Trade Date Maturity Date Estimated Value USD - 1,537,912.52 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 8 of 78 EFTA01553812 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 9 of 78 Swaps in Alphabetical Order Description continued Trade Date INTEREST RATE SWAP 10,000,000 NZD NOTIONAL 3/9/2014 REC:FIXED RATE 6.14% NZD SEMI-ANNUAL PAY:FLOATING RATE NZD 3 MONTH BANK BILL RATE ACTUAL/365 SWPBDA-GW-6 N/0 Client INTEREST RATE SWAP 10,000,000 AUD NOTIONAL 3/9/2014 REC:FIXED RATE 5.68% AUD SEMI-ANNUAL PAY:FLOATING RATE AUD 3 MONTH BANK BILL RATE ACTUAL/365 SWPBDA-GX-4 N/O Client INTEREST RATE SWAP 10,000,000 NZD NOTIONAL 3/9/2014 REC:FIXED RATE 6.11% NZD SEMI-ANNUAL PAY:FLOATING RATE NZD 3 MONTH BANK BILL RATE ACTUAL/365 SWPBDA-GY-2 N/O Client CROSS CURRENCY SWAP 10MM NZD NOTIONAL 6.51MM USD NOTIONAL 3/9/2014 REC: FIXED RATE 6.26% NZD SEMI-ANNUAL PAY: FLOATING RATE USD 3 MONTH LIBOR QUARTERLY SWPBDA-HA-3 N/0 Client - 391,766.00 - 269,294.00 - 291,444.00 Maturity Date Estimated Value USD - 255,416.00 EFTA01553813 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 10 of 78 Swaps in Alphabetical Order Description continued Trade Date CROSS CURRENCY SWAP 10MM AUD NOTIONAL 7.41MM USD NOTIONAL 3/9/2014 REC: FIXED RATE 5.84% AUD SEMI-ANNUAL PAY: FLOATING RATE USD 3 MONTH LIBOR QUARTERLY SWPBDA-HB-1 N/0 Client Structured Investments in Alphabetical Order Description P 3 MONTH NZD BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN NZD JPMORGAN CHASE LONDON MATURITY DATE 8/10/2004 630999-9Z-5 Bearer Total Other Maturity Date Estimated Value USD - 501,007.91 Market Value USD Unrealized Estimated Annual Currency NZD Quantity 0 Unit Cost PriCe/Unit 98.104 Tax Cost Accrued Income USD 0.00 Gain/Loss USD N/A Income USD Yield N/A - 3,757,741.98 EFTA01553814 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 11 of 78 Options Foreign Exchange Description Cusip HUF PUT USD CALL FX EUROPEAN STYLE OPTION SEP 16, 2004 @ 211. KNOCK IN @ 220 XHUFPA-AI-Z HUF PUT USD CALL FX EUROPEAN STYLE OPTION SEP 16, 2004 @ 212. KNOCK IN @ 220 XHUFPA-AJ-Z EUR CALL CHF PUT FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.565 XEURCA-VS-Z EUR PUT CHF CALL FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.525 KNOCK IN @ 1.52 XEURPA-NW-Z EUR PUT CHF CALL FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.525 KNOCK IN @ 1.52 XEURPA-NT-Z EUR - 7,262,295 CHF - 11,074,999.88 USD - 31,765.08 - 31,765.08 - 32,684.10 - 919.02 EUR - 10,262,295 CHF - 15,649,999.88 USD - 42,394.00 - 42,394.00 - 32,684.08 9,709.92 EUR - 10,000,000 CHF - 15,650,000.00 USD - 38,273.00 - 38,273.00 - 1,213.80 37,059.20 HUF -1,696,000,000 USD - 8,000,000.00 USD - 424,000.00 - 424,000.00 - 235,082.56 188,917.44 Counter Amount Currency Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD HUF -1,002,250,000 USD - 4,750,000.00 USD - 277,875.00 - 277,875.00 - 147,531.20 130,343.80 EFTA01553815 EFTA01553816 05 Cusip JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 12 of 78 Foreign Exchange Description JPY PUT USD CALL FX EUROPEAN STYLE OPTION NOV 04, 2004 @ 111. KNOCK IN TRIGGERED @ 112.5 KNOCK OUT @ 106.25 XJPYPA-JW-Z NZD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 10, 2004 @ .615 KNOCK IN TRIGGERED @ .60 KNOCK OUT @ .642 XNZDPA-DR-Z NZD CALL USD PUT FX EUROPEAN STYLE OPTION JUN 10, 2004 @ .62 KNOCK IN TRIGGERED @ .635 XNZDCA-CG-Z AUD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 11, 2004 @ .69 KNOCK IN @ .67 XAUDPA-DN-Z EUR CALL USD PUT FX EUROPEAN STYLE OPTION JUN 15, 2004 @ 1.185 KNOCK IN TRIGGERED @ 1.2 XEURCA-WK-Z AUD CALL USD PUT FX EUROPEAN STYLE OPTION JUN 16, 2004 @ .69 KNOCK IN TRIGGERED @ .71 XAUDCA-BY-Z AUD - 5,000,000 USD - 3,450,000.00 USD - 48,645.00 - 48,645.00 - 119,709.35 - 71,064.35 EUR - 12,000,000 USD - 14,220,000.00 USD - 142,769.00 - 142,769.00 - 442,799.88 - 300,030.88 AUD - 4,000,000 USD - 2,760,000.00 USD - 91,908.00 - 91,908.00 - 61,658.96 30,249.04 NZD - 15,000,000 USD - 9,300,000.00 USD - 91,140.00 - 91,140.00 - 165,846.30 - 74,706.30 NZD - 10,000,000 USD - 6,150,000.00 USD - 193,725.33 - 193,725.33 - 117,442.70 76,282.63 Counter Amount Currency continued JPY -1,110,000,000 USD - 10,000,000.00 USD - 138,000.00 - 138,000.00 - 174,591.90 - 36,591.90 EFTA01553817 Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01553818 05 Cusip JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 13 of 78 Foreign Exchange Description HKD PUT USD CALL FX EUROPEAN STYLE OPTION SEP 23, 2004 @ 7.833 XHKDPA-AH-Z EUR CALL USD PUT FX EUROPEAN STYLE OPTION NOV 01, 2004 @ 1.25 KNOCK OUT @ 1.1375 KNOCK OUT @ 1.21 BARRIER EXP 12/1/03 XEURCA-TP-Z EUR CALL USD PUT FX EUROPEAN STYLE OPTION NOV 01, 2004 @ 1.3 KNOCK OUT @ 1.1375 KNOCK OUT @ 1.21 BARRIER EXP 12/1/03 XEURCA-TQ-Z AUD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 11, 2004 @ .7775 KNOCK IN TRIGGERED @ .7565 KNOCK OUT @ .8020 XAUDPA-CQ-Z NZD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 22, 2004 @ .68 KNOCK IN TRIGGERED @ .6625 XNZDPA-DC-Z NZD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 22, 2004 @ .68 KNOCK IN TRIGGERED @ .6625 XNZDPA-DB-Z NZD - 1,986,500 USD - 1,350,820.00 USD - 61,192.17 - 61,192.17 - 1,329,960.94 - 1,268,768.77 NZD - 16,650,000 USD - 11,322,000.00 USD - 469,863.00 - 469,863.00 - 2,177,096.22 - 1,707,233.22 AUD - 4,000,000 USD - 3,110,000.00 USD - 106,673.20 - 106,673.20 - 304,594.12 - 197,920.92 EUR 10,000,000 USD 13,000,000.00 USD 56,447.00 56,447.00 100,771.20 44,324.20 EUR 5,000,000 USD 6,250,000.00 USD 49,186.20 49,186.20 323,939.05 274,752.85 Counter Amount Currency continued HKD 156,660,000 USD 20,000,000.00 USD 312,280.00 EFTA01553819 312,280.00 9,806.92 - 302,473.08 Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01553820 05 Cusip JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 14 of 78 Foreign Exchange Description GBP PUT USD CALL FX EUROPEAN STYLE OPTION AUG 20, 2004 @ 1.875 KNOCK IN TRIGGERED @ 1.8375 XGBPPA-GN-Z AUD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 22, 2004 @ .77 KNOCK IN @ TRIGGERED @ .755 KNOCK OUT @ .7965 XAUDPA-DH-Z THB CALL USD PUT FX EUROPEAN STYLE OPTION FEB 23, 2005 @ 36. XTHBCA-AC-Z THB CALL USD PUT FX EUROPEAN STYLE OPTION FEB 23, 2005 @ 38. XTHBCA-AB-Z TWD CALL USD PUT FX EUROPEAN STYLE OPTION MAR 01, 2005 @ 32.75 XTWDCA-AB-Z NZD PUT USD CALL FX EUROPEAN STYLE OPTION SEP 13, 2004 @ .63 KNOCK IN TRIGGERED @ .60 XNZDPA-DE-Z NZD - 5,000,000 USD - 3,150,000.00 USD - 90,720.00 - 90,720.00 - 121,144.75 - 30,424.75 TWD 327,500,000 USD 10,000,000.00 USD 196,000.00 196,000.00 112,263.73 - 83,736.27 THB 351,500,000 USD 9,250,000.00 USD 108,225.00 108,225.00 22,991.62 - 85,233.38 THB 2,700,000,000 USD 75,000,000.00 USD 405,000.00 405,000.00 24,408.00 - 380,592.00 AUD - 1,500,000 USD - 1,155,000.00 USD - 23,561.94 - 23,561.94 - 108,734.96 - 85,173.02 Counter Amount Currency continued GBP - 5,750,000.66 USD - 10,781,251.24 USD - 349,312.54 - 349,312.54 - 406,364.91 - 57,052.37 Counter Premium Amount Currency Premium EFTA01553821 Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01553822 05 Cusip JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 15 of 78 Foreign Exchange Description GBP CALL USD PUT FX EUROPEAN STYLE OPTION JUN 15, 2004 @ 1.83 KNOCK IN TRIGGERED @ 1.86 XGBPCA-NW-2 Total Foreign Exchange Exchange-listed options are valued using market prices at the close of business for statement date Over-The-Counter (OTC) options are valued at Mid-Market, unless otherwise agreed. See: Important Information about Pricing and Valuations. - 1,586,179.06 - 5,467,207.26 - 3,881,028.19 Counter Amount Currency continued GBP - 5,000,000 USD - 9,150,000.00 USD - 91,500.00 - 91,500.00 - 82,247.05 9,252.95 Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD Important Information about Pricing and Valuations Prices, some of which are provided by pricing services or other sources which we deem reliable, are not guaranteed for accuracy or as realizable values. Valuations of over-the-counter derivative transactions, including certain derivatives-related deposi t products, have been prepared on a mid-market basis. These valuations are indicative values as of t he close of business of the date of this statement and, except as otherwise agreed in writing, these valuations do not represent the actual terms at wh ich transactions or securities could be bought or sold or new transactions could be entered into, or the actual terms on which existing transactions or securities could be liquidated as of the date of this statement. We do not warrant their completenes s or accuracy. These valuations are derived from proprietary models based upon well recognized finan cial principles and we have, when necessary to calculate the present value of future cash flows, made reasonable estimates about relevant future ma rket conditions. Valuations based on other models or different assumptions may yield different resul ts. Morgan expressly disclaims any responsibility for (1) the accuracy of the models or estimates used in deriving the valuations, (2) any errors or o missions in computing or disseminating the valuations, and (3) any uses to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. Please refer to the trade confirmation for d etails of each transaction. EFTA01553823 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 16 of 78 Outstanding Foreign Exchange Contracts Net Currency Exposure Summary N Zealand Dollar U S Dollar Value in Currency - 4,964,616.52 1,269,412.96 Gain/Loss Summary Total Unrealized Closed Value in USD Total Unrealized Open Total Unrealized Gain/Loss - 636,369.62 - 1,972,259.76 - 2,608,629.38 Foreign Exchange Contracts Settlement Date Trade Date SPECULATIVE AUSTRALIA DOLLAR - U S DOLLAR Apr. 29 04 Jun. 1 04 AUD May. 28 04 Jun. 1 04 AUD Feb. 20 04 Aug. 24 04 AUD Feb. 20 04 Aug. 24 04 AUD Mar. 1 04 Aug. 24 04 AUD Total Closed May. 11 04 Jun. 15 04 AUD May. 14 04 Jun. 15 04 AUD May. 17 04 Jun. 15 04 AUD Apr. 16 04 Oct. 20 04 AUD Apr. 23 04 Oct. 20 04 AUD Total Open Total - 10,000,000.00 USD 10,000,000.00 USD 7,500,000.00 USD 7,500,000.00 USD - 15,000,000.00 USD 0.00 - 3,000,000.00 USD - 5,000,000.00 USD - 5,000,000.00 USD 10,000,000.00 USD 3,000,000.00 USD 0.00 0.00 7,171,000.00 - 7,187,000.00 - 5,676,750.00 - 5,639,250.00 11,347,500.00 15,500.00 2,081,400.00 3,438,000.00 3,408,500.00 - 7,289,000.00 - 2,148,600.00 - 509,700.00 - 494,200.00 0.7171 0.7187 0.7569 0.7519 0.7565 0.6938 0.6876 0.6817 0.7289 0.7162 EFTA01553824 0.713537 1.391401 0.706524 0.706524 0.706524 0.712332 0.712332 0.712332 0.702435 0.702435 7,171,000.00 7,187,000.00 5,298,931.06 5,298,931.06 11,347,500.00 36,303,362.12 2,081,400.00 3,438,000.00 3,408,500.00 7,024,348.63 2,107,304.58 18,059,553.21 54,362,915.33 7,135,369.61 7,187,000.00 5,676,750.00 5,639,250.00 10,597,862.13 36,236,231.74 2,136,994.57 3,561,657.62 3,561,657.62 7,289,000.00 2,148,600.00 18,697,909.81 54,934,141.55 35,630.39 0.00 - 377,818.94 - 340,318.94 749,637.87 67,130.38 - 55,594.57 - 123,657.62 - 153,157.62 - 264,651.37 - 41,295.42 - 638,356.60 - 571,226.22 Currency Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD EFTA01553825 05 Trade Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 17 of 78 Foreign Exchange Contracts Settlement Date Currency EURO CURRENCY - U S DOLLAR Mar. 3 04 Jun. 7 04 EUR Mar. 5 04 Jun. 7 04 EUR Mar. 5 04 Jun. 7 04 EUR Mar. 16 04 Jun. 7 04 EUR May. 17 04 Aug. 6 04 EUR May. 27 04 Aug. 6 04 EUR Feb. 20 04 Aug. 24 04 EUR Mar. 1 04 Aug. 24 04 EUR Apr. 16 04 Oct. 20 04 EUR Apr. 23 04 Oct. 20 04 EUR May. 3 04 Oct. 20 04 EUR May. 11 04 Oct. 20 04 EUR May. 17 04 Oct. 20 04 EUR Total Closed continued Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD 5,000,000.00 USD 10,000,000.00 USD 20,000,000.00 USD - 35,000,000.00 USD - 5,000,000.00 USD 5,000,000.00 USD 7,500,000.00 USD - 7,500,000.00 USD 10,000,000.00 USD 3,000,000.00 USD - 10,000,000.00 USD - 1,500,000.00 USD - 1,500,000.00 USD 0.00 - 6,073,500.00 - 12,395,000.00 - 24,726,000.00 42,952,000.00 5,993,500.00 - 6,127,000.00 - 9,395,250.00 9,287,250.00 - 11,971,000.00 - 3,536,700.00 11,883,000.00 1,766,100.00 1,796,100.00 - 546,500.00 POUND STERLING - U S DOLLAR Mar. 3 04 Jun. 7 04 GBP Mar. 5 04 Jun. 7 04 GBP Mar. 5 04 Jun. 8 04 GBP Mar. 16 04 Jun. 8 04 GBP Feb. 23 04 Aug. 24 04 GBP Mar. 1 04 Aug. 24 04 GBP EFTA01553826 Total Closed May. 11 04 Jun. 14 04 GBP May. 12 04 Jun. 14 04 GBP May. 17 04 Jun. 14 04 GBP May. 19 04 Jun. 14 04 GBP Apr. 16 04 Oct. 20 04 GBP 10,000,000.00 USD - 10,000,000.00 USD 10,000,000.00 USD - 10,000,000.00 USD 10,000,000.00 USD - 10,000,000.00 USD 0.00 - 5,000,000.00 USD - 5,000,000.00 USD 1,000,000.00 USD - 4,000,000.00 USD 10,000,000.00 USD - 18,106,000.00 18,290,000.00 - 18,295,000.00 18,012,000.00 - 18,337,000.00 18,404,000.00 - 32,000.00 8,752,500.00 8,850,500.00 - 1,767,000.00 7,103,600.00 - 17,725,000.00 1.2147 1.2395 1.2363 1.2272 1.1987 1.2254 1.2527 1.2383 1.1971 1.1789 1.1883 1.1774 1.1974 0.819057 0.819057 0.819057 0.819057 0.820242 0.820242 0.820488 0.820488 0.820963 0.820963 0.820963 0.820963 0.820963 6,104,584.56 12,209,169.13 24,418,338.26 42,952,000.00 5,993,500.00 6,095,763.30 9,140,899.95 9,287,250.00 12,180,812.21 3,654,243.66 11,883,000.00 1,766,100.00 1,796,100.00 147,481,761.07 1.8106 1.829 1.8295 1.8012 1.8337 1.8404 1.7505 1.7701 1.767 EFTA01553827 1.7759 1.7725 1.832196 1.832196 1.832032 1.832032 1.819165 1.819165 1.831044 1.831044 1.831044 1.831044 1.810108 18,321,962.64 18,290,000.00 18,320,316.43 18,012,000.00 18,191,649.89 18,404,000.00 109,539,928.96 8,752,500.00 8,850,500.00 1,831,043.91 7,103,600.00 18,101,081.96 6,073,500.00 12,395,000.00 24,726,000.00 42,732,091.95 6,095,763.30 6,127,000.00 9,395,250.00 9,140,899.95 11,971,000.00 3,536,700.00 12,180,812.21 1,827,121.83 1,827,121.83 148,028,261.07 18,106,000.00 18,321,962.64 18,295,000.00 18,320,316.43 18,337,000.00 18,191,649.89 109,571,928.96 9,155,219.58 9,155,219.58 1,767,000.00 7,324,175.66 17,725,000.00 31,084.56 - 185,830.87 - 307,661.74 219,908.05 - 102,263.30 - 31,236.70 - 254,350.05 146,350.05 209,812.21 117,543.66 - 297,812.21 - 61,021.83 - 31,021.83 - 546,500.00 215,962.64 - 31,962.64 25,316.43 - 308,316.43 - 145,350.11 212,350.11 - 32,000.00 - 402,719.58 - 304,719.58 64,043.91 - 220,575.66 376,081.96 EFTA01553828 05 Trade Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 18 of 78 Foreign Exchange Contracts Settlement Date Currency Apr. 23 04 Oct. 20 04 GBP Total Open Total HUNGARIAN FORINT - U S DOLLAR May. 12 04 Jun. 14 04 HUF May. 17 04 Jun. 14 04 HUF Apr. 27 04 Oct. 20 04 HUF Apr. 28 04 Oct. 20 04 HUF Total Open JAPANESE YEN May. 18 04 Jun. 15 04 JPY May. 27 04 Jun. 15 04 JPY Apr. 16 04 Oct. 20 04 JPY May. 25 04 Oct. 20 04 JPY Total Open continued Amount Counter Currency 3,000,000.00 USD 0.00 0.00 - 1,396,450,000.00 USD - 297,770,000.00 USD 1,059,940,000.00 USD 634,280,000.00 USD 0.00 - U S DOLLAR - 567,850,000.00 USD 49,800,000.00 USD 1,076,700,000.00 USD - 558,650,000.00 USD 0.00 N ZEALAND DOLLAR - U S DOLLAR Mar. 3 04 Jun. 8 04 NZD Mar. 4 04 Jun. 8 04 NZD Mar. 16 04 Jun. 8 04 NZD Mar. 22 04 Jun. 8 04 NZD Feb. 20 04 Aug. 24 04 NZD Feb. 23 04 Aug. 24 04 NZD Mar. 2 04 Aug. 24 04 NZD Mar. 11 04 Mar. 15 05 NZD Mar. 23 04 Mar. 15 05 NZD Total Closed May. 11 04 Jun. 14 04 NZD May. 12 04 Jun. 14 04 NZD 15,000,000.00 USD 15,000,000.00 USD - 10,000,000.00 USD - 20,000,000.00 USD 5,000,000.00 USD 5,000,000.00 USD - 10,000,000.00 USD 5,000,000.00 USD - 5,000,000.00 USD 0.00 - 5,000,000.00 USD - 5,000,000.00 USD 5,000,000.00 - 445,438.28 - 10,000,000.00 5,000,000.00 - 445,438.28 - 9,943,500.00 - 9,900,000.00 EFTA01553829 6,450,000.00 13,118,000.00 - 3,315,000.00 - 3,344,500.00 6,742,000.00 - 3,102,500.00 3,170,500.00 - 125,000.00 3,017,000.00 3,033,500.00 113.57 111.80 107.67 111.73 110.47286 110.47286 109.865589 109.865589 5,000,000.00 450,789.45 9,800,156.77 5,000,000.00 20,250,946.22 0.6629 0.66 0.645 0.6559 0.663 0.6689 0.6742 0.6205 0.6341 0.6034 0.6067 0.627703 0.627703 0.627703 0.627703 0.621507 0.621507 0.621507 0.608080 0.608080 0.627218 0.627218 9,415,549.56 9,415,549.56 6,450,000.00 13,118,000.00 3,107,536.90 3,107,536.90 6,742,000.00 3,040,398.89 3,170,500.00 57,567,071.81 3,017,000.00 3,033,500.00 5,140,176.49 445,438.28 10,000,000.00 5,084,849.61 20,670,464.38 9,943,500.00 9,900,000.00 6,277,033.04 12,554,066.08 3,315,000.00 3,344,500.00 6,215,073.80 3,102,500.00 3,040,398.89 57,692,071.81 3,136,091.41 3,136,091.41 - 140,176.49 5,351.17 - 199,843.23 - 84,849.61 - 419,518.16 EFTA01553830 - 527,950.44 - 484,450.44 172,966.96 563,933.92 - 207,463.10 - 236,963.10 526,926.20 - 62,101.11 130,101.11 - 125,000.00 - 119,091.41 - 102,591.41 Counter Amount - 5,232,300.00 - 17,700.00 - 49,700.00 6,478,242.71 1,394,968.61 - 4,803,280.91 - 2,859,564.49 210,365.92 Contract Rate 1.7441 Current Market Forward Rate 1.810108 Market Value Receivables USD 5,430,324.58 50,069,050.45 159,608,979.41 215.56 213.46 220.67 221.81 206.829810 206.829810 213.779408 213.779408 6,478,242.71 1,394,968.61 4,958,101.47 2,966,983.60 15,798,296.39 Market Value Payables USD 5,232,300.00 50,358,914.82 159,930,843.78 6,751,686.32 1,439,686.08 4,803,280.91 2,859,564.49 15,854,217.80 Unrealized Gain/Loss USD 198,024.58 - 289,864.37 - 321,864.37 - 273,443.61 - 44,717.47 154,820.56 107,419.11 - 55,921.41 EFTA01553831 05 Trade Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 19 of 78 Foreign Exchange Contracts Settlement Date Currency May. 17 04 Jun. 14 04 NZD Apr. 16 04 Oct. 20 04 NZD May. 27 04 Oct. 20 04 NZD May. 27 04 Oct. 20 04 NZD Total Total TRADE Open RELATED N ZEALAND DOLLAR - U S DOLLAR May. 27 04 Jun. 1 04 NZD Total Foreign Exchange Contracts - 9,964,616.52 USD 6,227,885.32 0.625 1.60 6,227,885.32 482,667,530.56 6,227,885.32 485,276,159.94 0.00 - 2,608,629.38 continued Amount Counter Currency - 5,000,000.00 USD 10,000,000.00 USD 5,000,000.00 USD 5,000,000.00 USD 5,000,000.00 5,000,000.00 Counter Amount 2,971,500.00 - 6,276,000.00 - 3,127,000.00 - 3,127,000.00 - 3,508,000.00 - 3,633,000.00 Contract Rate 0.5943 0.6276 0.6254 0.6254 Current Market Forward Rate 0.627218 0.617384 0.617384 0.617384 Market Value Receivables USD 2,971,500.00 6,173,837.51 3,086,918.75 3,086,918.75 21,369,675.01 78,936,746.82 Market Value Payables USD 3,136,091.41 6,276,000.00 3,127,000.00 3,127,000.00 21,938,274.23 79,630,346.04 EFTA01553832 Unrealized Gain/Loss USD - 164,591.41 - 102,162.49 - 40,081.25 - 40,081.25 - 568,599.22 - 693,599.22 EFTA01553833 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 20 of 78 Trade Activity Realized Gain/Loss Summary Short Term Gain/Loss Long Term Gain/Loss Note: indicates Short Term Realized Gain/Loss indicates Long Term Realized Gain/Loss S L Capital gains and losses on sales with missing or incomplete tax cost are identified with N/A. Trade Date Settlement Date Settled May 3 May 5 Buy-Back Opt EUR CALL USD PUT May 3 May 5 Buy-Back Opt FX EUROPEAN STYLE OPTION JUL 20, 2004 @ 1.24 KNOCK IN @ 1.26 EUR PUT USD CALL FX EUROPEAN STYLE OPTION OCT 27, 2004 @ 1.2 May 3 May 5 Buy-Back Opt KNOCK IN TRIGGERED @ 1.1885 GBP CALL USD PUT May 4 May 6 Buy-Back Opt FX EUROPEAN STYLE OPTION MAY 24, 2004 @ 1.85 KNOCK IN @ 1.87 GBP PUT USD CALL FX EUROPEAN STYLE OPTION JUN 15, 2004 @ 1.78 KNOCK IN TRIGGERED @ 1.76 USD 2,200,000 - 3,398.00 45,584.00 42,186.00 S USD 5,625,000 - 51,615.00 134,618.00 83,003.00 S Realized Type Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD Amount USD - 68,303.82 0.00 USD 5,500,000 - 238,260.00 198,660.00 - 39,600.00 S USD 5,000,000 - 121,930.00 167,320.00 45,390.00 S EFTA01553834 05 Trade Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 21 of 78 Settlement Date Realized Type Settled continued May 4 May 10 Purchase May 5 May 10 Purchase 3 MONTH MXN FX DEPOSIT 100% PRINCIPAL PROTECTED IN USD JP MORGAN CHASE LONDON 8/5/2004 3 MONTH FX EUR FX DEPOSIT 100% PRINCIPAL PROTECTED IN EUROS JPMORGAN CHASE LONDON AUG 4 2004 May 6 May 10 Buy-Back Opt AUD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 14, 2004 @ .73 May 6 May 10 Buy-Back Opt KNOCK IN TRIGGERED @ .71 KNOCK OUT @ .7695 NZD PUT USD CALL May 6 May 10 Buy-Back Opt FX EUROPEAN STYLE OPTION OCT 21, 2004 @ .625 KNOCK IN @ .6090 KNOCK OUT @ .6500 ZAR PUT USD CALL FX EUROPEAN STYLE OPTION JUN 03, 2004 @ 7. KNOCK IN @ 7.15 May 7 May 10 Buy-Back Opt May 7 May 10 Buy-Back Opt TURKISH LIRA KNOCK IN PUT OPTION 10,000,000 USD ORIGINAL NOTIONAL 14 TRILLION TRL ORIGINAL NOTIONAL MAY 14 2004 @ 1,400,000 KNOCK IN TRIGGERED @ 1,420,000 TURKISH LIRA KNOCK IN PUT OPTION 10,000,000 USD ORIGINAL NOTIONAL 14 TRILLION TRL ORIGINAL NOTIONAL MAY 14 2004 @ 1,400,000 KNOCK IN TRIGGERED @ 1,420,000 USD 2,500,000 - 215,000.00 41,250.00 - 173,750.00 S USD 10,000,000 - 166,875.00 191,875.00 25,000.00 S MXN EUR USD 110,500,000 15,000,000 14,000,000 100.00 - 110,500,000.00 100.00 - 15,000,000.00 - 432,306.00 347,480.00 0.06 S - 84,826.00 S Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost EFTA01553835 Gain/Loss USD USD 35,000,000 - 121,000.00 123,000.00 2,000.00 S USD 2,500,000 - 148,750.00 41,250.00 - 107,500.00 S EFTA01553836 05 Trade Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 22 of 78 Settlement Date Realized Type Settled continued May 7 May 11 Buy-Back Opt AUD PUT USD CALL May 7 May 11 Write Option FX EUROPEAN STYLE OPTION OCT 25, 2004 @ .7275 KNOCK IN TRIGGERED @ .72 KNOCK OUT @ .7625 AUD PUT USD CALL May 7 May 11 Buy-Back Opt FX EUROPEAN STYLE OPTION NOV 10, 2004 @ .71 KNOCK IN @ .699 KNOCK OUT @ .74 NZD PUT USD CALL May 7 May 11 write Option FX EUROPEAN STYLE OPTION SEP 13, 2004 @ .63 KNOCK IN @ .60 NZD PUT USD CALL May 10May 12 Sell Option May 10May 12 Buy-Back Opt FX EUROPEAN STYLE OPTION NOV 10, 2004 @ .615 KNOCK IN TRIGGERED @ .60 KNOCK OUT @ .642 EUR PUT CHF CALL FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.55 ZAR PUT USD CALL FX EUROPEAN STYLE OPTION JUN 03, 2004 @ 7. KNOCK IN @ 7.15 May 10May 12 Purchase 3 MONTH NZD BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN NZD JPMORGAN CHASE LONDON MATURITY DATE 8/10/2004 NZD 10,000,000 100.00 - 10,000,000.00 USD 10,000,000 - 439,410.00 246,623.00 - 192,787.00 5 Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD - 15,000,000 4.04 430,260.00 USD 10,000,000 - 319,410.00 181,440.00 - 137,970.00 5 USD - 15,000,000 3.15 290,588.00 EFTA01553837 USD USD - 6,667,000 92,513.00 35,000,000 - 159,000.00 - 90,724.60 123,000.00 1,788.40 S - 36,000.00 S EFTA01553838 05 Trade Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 23 of 78 Settlement Date Realized Type Settled continued May 12May 13 Buy-Back Opt May 12May 14 Buy-Back Opt TURKISH LIRA KNOCK IN PUT OPTION 10,000,000 USD ORIGINAL NOTIONAL 14 TRILLION TRL ORIGINAL NOTIONAL MAY 14 2004 @ 1,400,000 KNOCK IN TRIGGERED @ 1,420,000 AUD PUT USD CALL May 12May 14 Write Option FX EUROPEAN STYLE OPTION OCT 11, 2004 @ .7775 KNOCK IN TRIGGERED @ .7565 KNOCK OUT @ .8020 AUD PUT USD CALL May 12May 14 Buy-Back Opt May 12May 14 Sell Option May 12May 14 Write Option FX EUROPEAN STYLE OPTION OCT 11, 2004 @ .69 KNOCK IN @ .67 EUR CALL CHF PUT FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.565 EUR PUT CHF CALL FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.55 NZD CALL USD PUT May 12May 14 Buy-Back Opt May 12May 14 Write Option FX EUROPEAN STYLE OPTION JUN 10, 2004 @ .62 KNOCK IN @ .635 NZD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 19, 2004 @ .63 NZD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 19, 2004 @ .61 KNOCK IN @ .58 USD 5,000,000 - 390,000.00 82,500.00 - 307,500.00 S Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD 4,000,000 - 365,425.00 106,673.20 - 258,751.80 S USD - 4,000,000 3.33 91,908.00 USD USD USD 10,000,000 EFTA01553839 - 11,017.00 - 10,000,000 - 15,000,000 0.98 141,431.00 91,140.00 36,146.00 - 140,332.94 25,129.00 S 1,098.06 S USD USD 12,000,000 - 465,696.00 - 15,000,000 3.98 364,170.00 233,226.00 - 232,470.00 S EFTA01553840 05 Trade Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 24 of 78 Settlement Date Realized Type Settled continued May 14May 18 Write Option AUD CALL USD PUT May 14May 17 Write Option FX EUROPEAN STYLE OPTION JUN 16, 2004 @ .69 KNOCK IN EUR CALL @ .71 USD PUT May 18May 21 Sell Option May 18May 21 Sell Option May 18May 20 Write Option May 19May 21 Write Option May 19May 21 Write Option May 19May 21 FX Option Assi May 19May 21 Write Option May 19May 21 Write Option FX JUN EUROPEAN 15, 2004 STYLE OPTION @ 1.185 KNOCK IN TRIGGERED @ 1.2 EUR PUT CHF CALL FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.55 EUR PUT CHF CALL FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.55 NZD CALL USD PUT FX EUROPEAN STYLE OPTION MAY 19, 2004 @ .6033 AUD CALL USD PUT FX EUROPEAN STYLE OPTION MAY 20, 2004 @ .695 AUD PUT USD CALL FX EUROPEAN STYLE OPTION MAY 20, 2004 @ .695 NZD CALL USD PUT FX EUROPEAN STYLE OPTION MAY 19, 2004 @ .6033 NZD CALL USD PUT FX EUROPEAN STYLE OPTION MAY 20, 2004 @ .605 NZD PUT USD CALL FX EUROPEAN STYLE OPTION MAY 20, 2004 @ .605 USD - 5,000,000 1.41 48,645.00 Description CurrenCy Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD - 12,000,000 1.004 142,769.00 USD - 96,774 USD USD USD USD USD EFTA01553841 USD USD - 3,429,774 - 10,000,000 - 10,000,000 - 10,000,000 10,000,000 - 10,000,000 - 10,000,000 0.375 0.415 0.325 0.355 0.395 1,620.70 57,439.30 19,607.00 24,673.00 27,453.00 0.00 22,688.00 25,108.00 19,607.00 19,607.00 S - 1,358.06 - 46,672.40 262.64 S 10,766.90 S EFTA01553842 05 Trade Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 25 of 78 Settlement Date Realized Type Settled continued May 19May 21 FX Opt Asgn'D SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION SELL NZD BUY USD May 20May 24 FX Option AssiAUD PUT USD CALL May 20May 24 FX Option Assi May 20May 24 FX Opt Asgn'D May 20May 24 FX Opt Asgn'D May 24May 24 Expired Opt FX EUROPEAN STYLE OPTION MAY 20, 2004 @ .695 NZD CALL USD PUT FX EUROPEAN STYLE OPTION MAY 20, 2004 @ .605 SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION BUY AUD SELL USD SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION SELL NZD BUY USD AUD CALL USD PUT FX EUROPEAN STYLE OPTION MAY 20, 2004 8 .695 Issued in USD May 24May 24 Expired Opt NZD PUT USD CALL FX EUROPEAN STYLE OPTION MAY 20, 2004 @ .605 Issued in USD May 25May 27 Buy-Back Opt AUD PUT USD CALL May 25May 27 Buy-Back Opt FX EUROPEAN STYLE OPTION NOV 10, 2004 @ .71 KNOCK IN @ .699 KNOCK OUT @ .74 EUR PUT USD CALL FX EUROPEAN STYLE OPTION OCT 27, 2004 @ 1.22 KNOCK IN @ 1.202 USD 15,000,000 - 379,140.00 430,260.00 51,120.00 S NZD 10,000,000 0.00 25,108.00 25,108.00 S USD USD AUD 10,000,000 - 10,000,000 10,000,000 1.438 1.652 - 6,950,000.00 6,050,000.00 0.00 6,950,000.00 - 6,051,333.33 24,673.00 EFTA01553843 - 1,333.33 S 24,673.00 S USD USD USD - 10,000,000 10,000,000 10,000,000 1.657 6,033,000.00 0.00 0.00 - 6,059,000.00 27,453.00 22,688.00 - 26,000.00 S 27,453.00 S 22,688.00 S Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD 1,100,000 - 46,433.20 37,710.20 - 8,723.00 S EFTA01553844 05 Trade Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 26 of 78 Settlement Date Realized Type Settled continued May 25May 27 Buy-Back Opt NZD PUT USD CALL May 25May 27 Buy-Back Opt FX EUROPEAN STYLE OPTION NOV 10, 2004 @ .615 KNOCK IN TRIGGERED @ .60 KNOCK OUT @ .642 NZD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 19, 2004 @ .61 KNOCK IN @ .58 May 25May 27 Sale May 26May 28 Sale 3 MONTH FX EUR FX DEPOSIT 100% PRINCIPAL PROTECTED IN EUROS JPMORGAN CHASE LONDON AUG 4 2004 3 MONTH MXN FX DEPOSIT 100% PRINCIPAL PROTECTED IN USD JP MORGAN CHASE LONDON 8/5/2004 Trade Date Estimated Settlement Date Pending May 12Jun 14 Dispose FX Contract May 17Jun 14 Dispose FX Contract May 27Jun 1 Sale BUY USD SELL HUF FORWARD CONTRACT FX RATE 215.5600000 TRADE 05/12/04 VALUE 06/14/04 BUY USD SELL HUF FORWARD CONTRACT FX RATE 213.4600000 TRADE 05/17/04 VALUE 06/14/04 3 MONTH NZD BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN NZD JPMORGAN CHASE LONDON MATURITY DATE 8/10/2004 USD USD NZD 6,478,242.71 1,394,968.61 - 10,000,000 0.00 0.00 0.00 0.00 0.00 9,964,616.52 - 10,000,000.00 36,893.21 S EUR MXN - 15,000,000 - 110,500,000 14,941,124.64 - 15,000,000.00 110,118,880.77 - 110,500,000.00 148,395.93 S - 38,709.94 S USD 5,000,000 - 103,013.00 06,862.67 - 6,150.33 S EFTA01553845 Description Currency Quantity Price/Unit Market Cost/Proceeds Tax cost Gain/Loss USD USD 15,000,000 - 325,740.00 364,170.00 38,430.00 S Realized Gain/Loss Type Description Currency Quantity Price/Unit Market Cost/Proceeds Tax cost USD EFTA01553846 05 Date JPMorgan Chase Bank 2004 Account Nutuber: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 27 of 78 Settled Foreign Exchange Contracts Trade Settlement Date Currency SPECULATIVE AUSTRALIA DOLLAR - U 5 DOLLAR May 4 04 May 13 04 May 11 04 May 13 04 May 11 04 May 13 04 May 17 04 May 19 04 May 17 04 May 19 04 May 20 04 May 24 04 May 17 04 May 26 04 May 25 04 May 26 04 EURO CURRENCY - U S DOLLAR Feb 9 04 Feb 9 04 May 11 04 May 11 04 Feb 11 04 May 11 04 Feb 12 04 May 11 04 May 11 04 Mar 1 04 EUR AUD - 8,000,000.00 USD AUD AUD AUD - 5,000,000.00 USD AUD AUD - 10,000,000.00 USD AUD - 5,000,000.00 USD AUD 5,818,400.00 3,000,000.00 USD - 2,089,800.00 5,000,000.00 USD - 3,483,000.00 3,449,500.00 5,000,000.00 USD - 3,457,500.00 6,937,000.00 3,424,500.00 5,000,000.00 USD - 3,527,500.00 EUR 15,000,000.00 USD - 18,936,000.00 3,000,000.00 USD - 3,787,200.00 8,939,000.00 6,389,500.00 7,448,400.00 EUR - 7,000,000.00 USD EUR - 5,000,000.00 USD EUR - 6,000,000.00 USD POUND STERLING - JAPANESE YEN Apr 26 04 May 7 04 POUND STERLING - U S DOLLAR GBP GBP Apr 21 04 May 7 04 Apr 26 04 May 7 04 May 4 04 May 13 04 May 6 04 May 13 04 May 11 04 May 13 04 GBP - 4,996,787.86 JPY 968,327,520.00 0.727300 0.696600 0.696600 0.689900 0.691500 0.693700 0.684900 0.705500 1.262400 EFTA01553847 1.262400 1.277000 1.277900 1.241400 193.790000 1.449700 0.696600 0.696600 0.691500 0.691500 0.695000 1.415600 0.705500 1.180638 1.180638 1.180638 1.180638 1.180638 1.786193 111.935000 5,000,000.00 USD - 8,887,000.00 - 3,212.00 USD 5,735.67 GBP - 10,000,000.00 USD 17,911,000.00 GBP - 3,000,000.00 USD GBP 8,000,000.00 USD - 14,044,800.00 5,386,800.00 1.777400 1.785700 1.791100 1.795600 1.755600 1.786193 1.786193 1.763202 1.763202 1.755600 - 8,887,000.00 5,735.67 8,930,963.65 - 5,737.25 17,911,000.00 - 17,632,019.74 5,386,800.00 - 14,044,800.00 - 5,289,605.92 14,044,800.00 43,963.65 - 1.58 278,980.26 97,194.08 5,818,400.00 - 2,089,800.00 - 3,483,000.00 3,449,500.00 - 3,457,500.00 6,937,000.00 3,424,500.00 - 3,527,500.00 - 18,936,000.00 - 3,787,200.00 8,939,000.00 6,389,500.00 7,448,400.00 - 8,925,226.14 - 5,518,383.11 2,089,800.00 3,483,000.00 - 3,457,500.00 3,457,500.00 - 6,950,000.00 - 3,532,071.20 3,527,500.00 17,709,563.16 3,541,912.63 - 8,264,462.80 - 5,903,187.72 - 7,083,825.26 8,650,801.98 EFTA01553848 300,016.89 Counter Amount Currency Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD - 8,000.00 - 13,000.00 - 107,571.20 - 1,226,436.84 - 245,287.37 674,537.20 486,312.28 364,574.74 - 274,424.16 EFTA01553849 05 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 28 of 78 Settled Foreign Exchange Contracts Trade Settlement Date Currency May 11 04 May 13 04 May 11 04 May 18 04 May 17 04 May 18 04 GBP Counter Amount Currency continued GBP - 5,000,000.00 USD GBP HUNGARIAN FORINT - U S DOLLAR May 7 04 May 10 04 May 7 04 May 10 04 May 7 04 May 11 04 May 10 04 May 11 04 May 4 04 May 13 04 May 10 04 May 13 04 May 12 04 May 13 04 JAPANESE YEN Apr 21 04 May 7 04 Feb 20 04 May 24 04 May 24 04 Mar 2 04 Apr 21 04 May 24 04 May 24 04 May 24 04 - U S DOLLAR JPY - 968,327,520.00 USD 8,887,000.00 JPY 1,087,300,000.00 USD - 10,000,000.00 JPY- 1,087,300,000.00 USD JPY 105,470,000.00 USD JPY - 105,470,000.00 USD N ZEALAND DOLLAR - U S DOLLAR May 3 04 May 4 04 Apr 28 04 May 11 04 Apr 29 04 May 11 04 May 4 04 May 13 04 May 11 04 May 13 04 May 11 04 May 13 04 9,939,665.42 - 968,681.12 935,988.57 NZD 10,000,000.00 USD - 6,246,000.00 NZD - 5,000,000.00 USD NZD NZD - 10,000,000.00 USD NZD NZD 5,000,000.00 USD - 3,029,500.00 5,000,000.00 USD - 3,029,500.00 108.960000 108.730000 109.390000 108.880000 112.683000 3,105,500.00 5,000,000.00 USD - 3,107,000.00 6,320,000.00 0.624600 0.621100 0.621400 0.632000 0.605900 0.605900 111.935000 EFTA01553850 112.595000 112.595000 112.595000 112.595000 0.624600 1.660850 1.660850 1.662650 0.605900 0.605900 8,887,000.00 - 10,000,000.00 9,939,665.42 - 968,681.12 935,988.57 - 6,246,000.00 3,105,500.00 - 3,107,000.00 6,320,000.00 - 3,029,500.00 - 3,029,500.00 - 8,650,801.98 9,656,734.31 - 9,656,734.31 936,720.10 - 936,720.10 6,246,000.00 - 3,010,506.66 3,010,506.66 - 6,014,494.93 3,029,500.00 3,029,500.00 236,198.02 - 343,265.69 282,931.11 - 31,961.02 - 731.53 HUF 110,800,000.00 USD HUF - 110,800,000.00 USD HUF - 355,300,000.00 USD 5,000,000.00 USD - 8,778,000.00 8,767,500.00 5,000,000.00 USD - 8,838,000.00 - 521,411.76 530,478.57 1,700,000.00 HUF 355,300,000.00 USD - 1,650,255.45 HUF- 1,041,150,000.00 USD HUF - 355,300,000.00 USD HUF 1,396,450,000.00 USD - 6,540,749.41 5,000,000.00 1,649,152.44 1.755600 1.753500 1.767600 212.500000 208.868000 209.000000 215.300000 208.230000 215.444000 213.500000 1.755600 1.770068 1.767600 212.500000 198.184597 215.300001 215.300000 216.071390 213.500000 213.500000 - 8,778,000.00 8,767,500.00 - 8,838,000.00 - 521,411.76 530,478.57 1,700,000.00 - 1,650,255.45 EFTA01553851 5,000,000.00 1,649,152.44 - 6,540,749.41 8,778,000.00 - 8,850,340.73 8,838,000.00 521,411.76 - 559,074.73 - 1,650,255.45 1,650,255.45 - 4,818,546.31 - 1,664,168.62 6,540,749.41 - 82,840.73 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD - 28,596.16 49,744.55 181,453.69 - 15,016.18 94,993.34 - 96,493.34 305,505.07 EFTA01553852 05 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 29 of 78 Settled Foreign Exchange Contracts Trade Settlement Date Currency May 20 04 May 21 04 May 20 04 May 24 04 May 20 04 May 24 04 May 20 04 May 24 04 TRADE RELATED EURO CURRENCY - U S DOLLAR HUNGARIAN FORINT - U S DOLLAR MEXICAN NEW PESO - U S DOLLAR May 25 04 May 27 04 May 7 04 May 10 04 EUR - 14,941,124.64 USD 18,080,254.93 HUF- 2,120,000,000.00 USD 10,734,760.71 May 26 04 May 28 04 MXN - 110,118,880.77 USD 9,651,085.08 1.210100 197.489264 11.410000 1.210100 198.184597 11.410000 18,080,254.93 - 18,080,254.93 10,734,760.71 - 10,697,097.74 9,651,085.08 - 9,651,085.08 37,662.97 NZD Counter Amount Currency continued NZD 10,000,000.00 USD - 6,059,000.00 5,000,000.00 USD - 3,020,000.00 3,018,000.00 NZD - 5,000,000.00 USD NZD 10,000,000.00 USD - 6,057,000.00 0.605900 0.604000 0.603600 0.605700 0.605900 0.604000 0.605133 0.605700 - 6,059,000.00 - 3,020,000.00 3,018,000.00 - 6,057,000.00 6,059,000.00 3,020,000.00 - 3,025,666.67 6,057,000.00 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD - 7,666.67 EFTA01553853 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 30 of 78 Account Transactions by Currency Australia Dollar Activity Summary Amount this Period Beginning Balance Credits Sales, Maturities, Redemptions Foreign Exchange Debits Foreign Exchange Ending Balance Foreign Exchange Gains/Losses Australia Dollar Activity by Date Settlement Date May 3 Type Spot FX Quantity Description 3,590,500 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL AUD SPOT RATE : 0.718100000 TRADE 4/29/04 VALUE 5/03/04 U S DOLLAR AUSTRALIA DOLLAR May 3 Spot FX - 3,603,500 SPOT CURRENCY TRANSACTION - BUY BUY AUD SELL USD SPOT RATE : 0.720700000 TRADE 4/30/04 VALUE 5/03/04 AUSTRALIA DOLLAR U S DOLLAR 5,000,000.00 3,603,500.00 - 43,000,000.00 -00 - 49,845.69 - 235,500,000.00 43,000,000.00 10,000,000.00 225,500,000.00 .00 Amount to Date Realized Amount Gain/Loss USD - 13,000.00 - 5,000,000.00 - 3,590,500.00 Amount USD EFTA01553854 05 Date May 4 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 31 of 78 Australia Dollar Activity by Date Settlement continued Realized Type Spot FX Quantity Description - 7,180,000 SPOT CURRENCY TRANSACTION - BUY BUY AUD SELL USD SPOT RATE : 0.718000000 TRADE 4/30/04 VALUE 5/04/04 AUSTRALIA DOLLAR U S DOLLAR May 4 FX Opt Asgn'D 7,181,000 SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION SELL AUD BUY USD TRADE 4/30/04 VALUE 5/04/04 May 13 Fwd FX Ctrct 5,818,400 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL AUD CONTRACT RATE : 0.727300000 TRADE 5/04/04 VALUE 5/13/04 May 13 Spot FX - 2,089,800 SPOT CURRENCY TRANSACTION - BUY BUY AUD SELL USD SPOT RATE : 0.696600000 TRADE 5/11/04 VALUE 5/13/04 AUSTRALIA DOLLAR U S DOLLAR May 13 Spot FX - 3,483,000 SPOT CURRENCY TRANSACTION - BUY BUY AUD SELL USD SPOT RATE : 0.696600000 TRADE 5/11/04 VALUE 5/13/04 AUSTRALIA DOLLAR U S DOLLAR 1,000.00 Gain/Loss USD 10,000,000.00 7,180,000.00 Amount Amount USD - 10,000,000.00 - 7,291,286.91 - 54,416.89 - 8,000,000.00 - 5,518,383.11 3,000,000.00 2,089,800.00 5,000,000.00 3,483,000.00 EFTA01553855 05 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 32 of 78 Australia Dollar Activity by Date Settlement continued Realized Type May 19 Spot FX Quantity Description 3,449,500 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL AUD SPOT RATE : 0.689900000 TRADE 5/17/04 VALUE 5/19/04 U S DOLLAR AUSTRALIA DOLLAR May 19 Spot FX - 3,457,500 SPOT CURRENCY TRANSACTION - BUY BUY AUD SELL USD SPOT RATE : 0.691500000 TRADE 5/17/04 VALUE 5/19/04 AUSTRALIA DOLLAR U S DOLLAR May 24 Spot FX 6,937,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL AUD SPOT RATE : 0.693700000 TRADE 5/20/04 VALUE 5/24/04 U S DOLLAR May 24 Expired Opt 10,000,000 AUSTRALIA DOLLAR AUD CALL USD PUT FX EUROPEAN STYLE OPTION MAY 20, 2004 9 .695 EXPIRATION OF WRITTEN FX OPTION May 24 FX Opt Asgn'D - 6,950,000 SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION BUY AUD SELL USD TRADE 5/20/04 VALUE 5/24/04 May 26 Fwd FX Ctrct 3,424,500 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL AUD CONTRACT RATE : 0.684900000 TRADE 5/17/04 VALUE 5/26/04 4,571.20 10,000,000.00 6,991,051.45 5,000,000.00 3,457,500.00 Gain/Loss USD - 5,000,000.00 - 3,449,500.00 Amount Amount USD - 10,000,000.00 - 6,937,000.00 - 5,000,000.00 - 3,532,071.20 EFTA01553856 05 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 33 of 78 Australia Dollar Activity by Date Settlement continued Realized Type May 26 Spot FX Quantity Description - 3,527,500 SPOT CURRENCY TRANSACTION - BUY BUY AUD SELL USD SPOT RATE : 0.705500000 TRADE 5/25/04 VALUE 5/26/04 AUSTRALIA DOLLAR U S DOLLAR Gain/Loss USD 5,000,000.00 3,527,500.00 Amount Amount USD EFTA01553857 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 34 of 78 Account Transactions by Currency Euro Currency Activity Summary Amount this Period Beginning Balance Credits Sales, Maturities, Redemptions Foreign Exchange Debits Purchases of Securities Foreign Exchange Ending Balance Foreign Exchange Gains/Losses Euro Currency Activity by Date Settlement Date Type May 10 Redemption Quantity Description - 15,000,000 3 MONTH EUR BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN EUR JPMORGAN CHASE LONDON 5/04/2004 TO REDEMPTION May 10 Purchase 15,000,000 3 MONTH FX EUR FX DEPOSIT 100% PRINCIPAL PROTECTED IN EUROS JPMORGAN CHASE LONDON AUG 4 2004 AS OF 05/06/04 - 15,000,000.00 - 32,941,124.64 .00 - .01 - 30,000,000.00 - 257,941,124.64 29,941,124.64 18,000,000.00 29,941,124.64 258,000,000.00 .00 Amount to Date Realized Amount Gain/Loss USD - 818,141.06 15,000,000.00 17,931,858.94 Amount USD - 15,000,000.00 - 17,931,859.00 EFTA01553858 05 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 35 of 78 Euro Currency Activity by Date Settlement continued Realized Type May 11 Fwd FX Ctrct Quantity Description - 18,936,000 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL USD CONTRACT RATE : 1.262400000 TRADE 2/09/04 VALUE 5/11/04 May 11 Fwd FX Ctrct - 3,787,200 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL USD CONTRACT RATE : 1.262400000 TRADE 2/09/04 VALUE 5/11/04 May 11 Fwd FX Ctrct 8,939,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL EUR CONTRACT RATE : 1.277000000 TRADE 2/11/04 VALUE 5/11/04 May 11 Fwd FX Ctrct 6,389,500 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL EUR CONTRACT RATE : 1.277900000 TRADE 2/12/04 VALUE 5/11/04 May 11 Fwd FX Ctrct 7,448,400 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL EUR CONTRACT RATE : 1.241400000 TRADE 3/01/04 VALUE 5/11/04 May 27 Spot FX 18,080,254.93 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL EUR SPOT RATE : 1.210100000 TRADE 5/25/04 VALUE 5/27/04 U S DOLLAR EURO PRINCIPAL CURRENCY May 27 Sale - 15,000,000 3 MONTH FX EUR FX DEPOSIT 100% PRINCIPAL PROTECTED IN EUROS JPMORGAN CHASE LONDON AUG 4 2004 14,941,124.64 18,080,254.93 - 0.01 Gain/Loss USD 15,000,000.00 17,709,563.16 Amount Amount USD 3,000,000.00 3,541,912.63 - 7,000,000.00 - 8,264,462.80 - 5,000,000.00 - 5,903,187.72 - 6,000,000.00 - 7,083,825.26 - 14,941,124.64 - 18,080,254.93 EFTA01553859 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 36 of 78 Account Transactions by Currency Hungarian Forint Activity Summary Amount this Period Beginning Balance Credits Sales, Maturities, Redemptions Foreign Exchange Debits Purchases of Securities Foreign Exchange Ending Balance Foreign Exchange Gains/Losses Hungarian Forint Activity by Date Settlement Date Type May 10 Redemption Quantity Description -2,120,000,000 3 MONTH HUF BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN HUF JPMORGAN CHASE LONDON 5/10/2004 TO REDEMPTION May 10 Spot FX - 521,411.76 SPOT CURRENCY TRANSACTION - BUY BUY HUF SELL USD SPOT RATE : 212.500000000 TRADE 5/07/04 VALUE 5/10/04 HUNGARIAN FORINT U S DOLLAR - 3,982,550,000.0 .00 - 58,034.48 - 2,120,000,000.0 - 11,019,350,000. 2,120,000,000.00 1,862,550,000.00 3,203,000,000.00 9,936,350,000.00 .00 Amount to Date Realized Amount Gain/Loss USD 734,760.71 2,120,000,000.00 10,734,760.71 Amount USD 110,800,000.00 521,411.76 EFTA01553860 05 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 37 of 78 Hungarian Forint Activity by Date Settlement continued Realized Type May 10 Spot FX Quantity Description 530,478.57 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL HUF SPOT RATE : 208.868000000 TRADE 5/07/04 VALUE 5/10/04 U S DOLLAR HUNGARIAN FORINT May 10 spot FX 10,734,760.71 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL HUF SPOT RATE : 197.489264000 TRADE 5/07/04 VALUE 5/10/04 U S DOLLAR HUNGARIAN FORINT May 11 Spot FX 1,700,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL HUF SPOT RATE : 209.000000000 TRADE 5/07/04 VALUE 5/11/04 U S DOLLAR HUNGARIAN FORINT May 11 Spot FX - 1,650,255.45 SPOT CURRENCY TRANSACTION - BUY BUY HUF SELL USD SPOT RATE : 215.300000000 TRADE 5/10/04 VALUE 5/11/04 HUNGARIAN FORINT U S DOLLAR May 13 Fwd FX Ctrct 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL HUF CONTRACT RATE : 208.230000000 TRADE 5/04/04 VALUE 5/13/04 355,300,000.00 1,650,255.45 - 355,300,000.00 - 1,700,000.00 -2,120,000,000.00 - 10,734,760.71 Gain/Loss USD - 110,800,000.00 - 530,478.57 Amount Amount USD - 58,034.48 -1,041,150,000.00 - 4,818,546.31 EFTA01553861 05 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 38 of 78 Hungarian Forint Activity by Date Settlement continued Realized Type May 13 Spot FX Quantity Description 1,649,152.44 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL HUF SPOT RATE : 215.444000000 TRADE 5/10/04 VALUE 5/13/04 U S DOLLAR HUNGARIAN FORINT May 13 Spot FX - 6,540,749.41 SPOT CURRENCY TRANSACTION - BUY BUY HUF SELL USD SPOT RATE : 213.500000000 TRADE 5/12/04 VALUE 5/13/04 HUNGARIAN FORINT U S DOLLAR 1,396,450,000.00 6,540,749.41 Gain/Loss USD - 355,300,000.00 - 1,649,152.44 Amount Amount USD EFTA01553862 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 39 of 78 Account Transactions by Currency Japanese Yen Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Foreign Exchange Ending Balance Japanese Yen Activity by Date Settlement Date May 7 Type Fwd FX Ctrct Quantity Description 8,887,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL JPY CONTRACT RATE : 108.960000000 TRADE 4/21/04 VALUE 5/07/04 May 7 Fwd FX Ctrct - 4,996,787.86 SETTLE FORWARD CURRENCY CONTRACT BUY JPY SELL GBP CONTRACT RATE : 193.790000000 TRADE 4/26/04 VALUE 5/07/04 May 24 Fwd FX Ctrct - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY JPY SELL USD CONTRACT RATE : 108.730000000 TRADE 2/20/04 VALUE 5/24/04 -00 2,161,097,520.00 - 2,161,097,520.0 .00 5,136,467,520.00 - 5,136,467,520.0 Amount to Date Realized Amount Dain/loss USD - 968,327,520.00 - 8,650,801.98 Amount USD 968,327,520.00 8,650,801.98 1,087,300,000.00 9,656,734.31 EFTA01553863 05 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 40 of 78 Japanese Yen Activity by Date Settlement continued Realized Type May 24 Fwd FX Ctrct Quantity Description 9,939,665.42 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL JPY CONTRACT RATE : 109.390000000 TRADE 3/02/04 VALUE 5/24/04 May 24 Fwd FX Ctrct - 968,681.12 SETTLE FORWARD CURRENCY CONTRACT BUY JPY SELL USD CONTRACT RATE : 108.880000000 TRADE 4/21/04 VALUE 5/24/04 May 24 Spot FX 935,988.57 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL JPY SPOT RATE : 112.683000000 TRADE 5/24/04 VALUE 5/24/04 U S DOLLAR JAPANESE YEN Gain/Loss USD -1,087,300,000.00 - 9,656,734.31 Amount Amount USD 105,470,000.00 936,720.10 - 105,470,000.00 - 935,988.57 EFTA01553864 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 41 of 78 Account Transactions by Currency Mexican New Peso Activity Summary Amount this Period Beginning Balance Credits Sales, Maturities, Redemptions Foreign Exchange Debits Purchases of Securities Foreign Exchange Ending Balance Mexican New Peso Activity by Date Settlement Date Type May 10 Redemption Quantity Description - 110,500,000 3 MONTH MXN BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN MXN JPMORGAN CHASE LONDON 5/3/2004 TO REDEMPTION AS OF 05/05/04 May 10 Purchase 110,500,000 3 MONTH MXN FX DEPOSIT 100% PRINCIPAL PROTECTED IN USD JP MORGAN CHASE LONDON 8/5/2004 AS OF 05/05/04 - 110,500,000.00 - 110,118,880.77 .00 - 221,000,000.00 - 166,366,880.77 220,618,680.77 276,868,680.77 110,500,000.00 .00 Amount to Date Realized Amount Gain/Loss USD - 310,204.98 110,500,000.00 9,669,795.02 Amount USD - 110,500,000.00 - 9,689,795.02 EFTA01553865 05 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 42 of 78 Mexican New Peso Activity by Date Settlement Type May 28 Spot FX continued Realized Quantity Description 9,651,085.08 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL MXN SPOT RATE : 11.410000000 TRADE 5/26/04 VALUE 5/28/04 U S DOLLAR MEXICAN NEW PESO May 28 Sale - 110,500,000 3 MONTH MXN FX DEPOSIT 100% PRINCIPAL PROTECTED IN USD JP MORGAN CHASE LONDON 8/5/2004 110,118,880.77 9,651,085.08 Gain/Loss USD - 110,118,880.77 - 9,651,085.08 Amount Amount USD EFTA01553866 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 43 of 78 Account Transactions by Currency N Zealand Dollar Activity Summary Amount this Period Beginning Balance Credits Sales, Maturities, Redemptions Foreign Exchange Debits Purchases of Securities Foreign Exchange Ending Balance Foreign Exchange Gains/Losses N Zealand Dollar Activity by Date Settlement Date May 3 Type Spot FX Quantity Description 3,075,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NZD SPOT RATE : 0.615000000 TRADE 4/29/04 VALUE 5/03/04 U S DOLLAR N ZEALAND DOLLAR - 10,000,000.00 - 65,000,000.00 .00 - 44,505.07 - 20,000,000.00 - 305,000,000.00 10,000,000.00 65,000,000.00 20,000,000.00 305,000,000.00 .00 Amount to Date Realized Amount Gain/Loss USD - 35,000.00 - 5,000,000.00 - 3,075,000.00 Amount USD EFTA01553867 05 Date May 3 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 44 of 78 N Zealand Dollar Activity by Date Settlement continued Realized Type Spot FX Quantity Description - 3,110,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.622000000 TRADE 4/29/04 VALUE 5/03/04 N ZEALAND DOLLAR U S DOLLAR May 4 Spot FX - 6,279,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.627900000 TRADE 4/30/04 VALUE 5/04/04 N ZEALAND DOLLAR U S DOLLAR May 4 Spot FX - 6,246,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.624600000 TRADE 5/03/04 VALUE 5/04/04 N ZEALAND DOLLAR U S DOLLAR May 4 FX Opt Asgn'D 6,150,000 SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION SELL NZD BUY USD TRADE 4/30/04 VALUE 5/04/04 May 4 FX Opt Asgn'D 6,225,000 SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION SELL NZD BUY USD TRADE 4/30/04 VALUE 5/04/04 May 11 Fwd FX Ctrct 3,105,500 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NZD CONTRACT RATE : 0.621100000 TRADE 4/28/04 VALUE 5/11/04 - 112,500.00 Gain/Loss USD 5,000,000.00 3,110,000.00 Amount Amount USD 10,000,000.00 6,279,000.00 10,000,000.00 6,246,000.00 - 10,000,000.00 - 6,329,514.53 - 37,500.00 - 10,000,000.00 - 6,329,514.53 - 5,000,000.00 EFTA01553868 - 3,010,506.66 EFTA01553869 05 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 45 of 78 N Zealand Dollar Activity by Date Settlement continued Realized Type May 11 Fwd FX Ctrct Quantity Description - 3,107,000 SETTLE FORWARD CURRENCY CONTRACT BUY NZD SELL USD CONTRACT RATE : 0.621400000 TRADE 4/29/04 VALUE 5/11/04 May 12 Redemption - 10,000,000 3 MONTH NZD BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN NZD JPMORGAN CHASE LONDON 5/10/2004 TO REDEMPTION May 12 Purchase 10,000,000 3 MONTH NZD BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN NZD JPMORGAN CHASE LONDON MATURITY DATE 8/10/2004 May 13 Fwd FX Ctrct 6,320,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NZD CONTRACT RATE : 0.632000000 TRADE 5/04/04 VALUE 5/13/04 May 13 Spot FX - 3,029,500 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.605900000 TRADE 5/11/04 VALUE 5/13/04 N ZEALAND DOLLAR U S DOLLAR May 13 Spot FX - 3,029,500 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.605900000 TRADE 5/11/04 VALUE 5/13/04 N ZEALAND DOLLAR U S DOLLAR - 44,505.07 - 584,007.89 Gain/Loss USD 5,000,000.00 3,010,506.66 Amount Amount USD 10,000,000.00 6,190,992.11 - 10,000,000.00 - 6,190,992.11 - 10,000,000.00 - 6,014,494.93 5,000,000.00 3,029,500.00 5,000,000.00 3,029,500.00 EFTA01553870 05 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 46 of 78 N Zealand Dollar Activity by Date Settlement continued Realized Type May 21 Spot FX Quantity Description - 6,059,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.605900000 TRADE 5/20/04 VALUE 5/21/04 N ZEALAND DOLLAR U S DOLLAR May 21 FX Opt Asgn'D 6,033,000 SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION SELL NZD BUY USD TRADE 5/19/04 VALUE 5/21/04 May 24 Spot FX - 3,020,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.604000000 TRADE 5/20/04 VALUE 5/24/04 N ZEALAND DOLLAR U S DOLLAR May 24 Spot FX 3,018,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NZD SPOT RATE : 0.603600000 TRADE 5/20/04 VALUE 5/24/04 U S DOLLAR N ZEALAND DOLLAR May 24 Spot FX - 6,057,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.605700000 TRADE 5/20/04 VALUE 5/24/04 N ZEALAND DOLLAR U S DOLLAR 10,000,000.00 6,057,000.00 Gain/Loss USD 10,000,000.00 6,059,000.00 Amount Amount USD - 10,000,000.00 - 6,122,011.69 5,000,000.00 3,020,000.00 - 5,000,000.00 - 3,018,000.00 EFTA01553871 05 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 47 of 78 N Zealand Dollar Activity by Date Settlement continued Realized Type May 24 Expired Opt Quantity Description 10,000,000 NZD PUT USD CALL FX EUROPEAN STYLE OPTION MAY 20, 2004 a .605 EXPIRATION OF WRITTEN FX OPTION May 24 FX Opt Asgn'D 6,050,000 SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION SELL NZD BUY USD TRADE 5/20/04 VALUE 5/24/04 - 10,000,000.00 - 6,102,398.24 Gain/Loss USD Amount Amount USD EFTA01553872 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 48 of 78 Account Transactions by Currency Pound Sterling Activity Summary Amount this Period Beginning Balance Credits Sales, Maturities, Redemptions Foreign Exchange Debits Foreign Exchange Ending Balance Foreign Exchange Gains/Losses Pound Sterling Activity by Date Settlement Date May 7 Type Fwd FX Ctrct Quantity Description - 8,887,000 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.777400000 TRADE 4/21/04 VALUE 5/07/04 May 7 Fwd FX Ctrct 5,735.67 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.785700000 TRADE 4/26/04 VALUE 5/07/04 May 7 Fwd FX Ctrct 968,327,520 SETTLE FORWARD CURRENCY CONTRACT BUY JPY SELL GBP CONTRACT RATE : 193.790000000 TRADE 4/26/04 VALUE 5/07/04 - 0.01 - 22,999,999.86 .14 111,166.38 - 121,699,999.86 23,000,000.00 13,000,000.00 108,700,000.00 .00 Amount to Date Realized Amount Gain/Loss USD 5,000,000.00 8,930,963.65 Amount USD - 3,212.00 - 5,737.25 - 4,996,787.86 - 8,925,226.14 EFTA01553873 05 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 49 of 78 Pound Sterling Activity by Date Settlement continued Realized Type May 13 Fwd FX Ctrct Quantity Description 17,911,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.791100000 TRADE 5/04/04 VALUE 5/13/04 May 13 Fwd FX Ctrct 5,386,800 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.795600000 TRADE 5/06/04 VALUE 5/13/04 May 13 Spot FX - 14,044,800 SPOT CURRENCY TRANSACTION - BUY BUY GBP SELL USD SPOT RATE : 1.755600000 TRADE 5/11/04 VALUE 5/13/04 POUND STERLING U S DOLLAR May 13 Spot FX - 8,778,000 SPOT CURRENCY TRANSACTION - BUY BUY GBP SELL USD SPOT RATE : 1.755600000 TRADE 5/11/04 VALUE 5/13/04 POUND STERLING U S DOLLAR May 18 Fwd FX Ctrct 8,767,500 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.753500000 TRADE 5/11/04 VALUE 5/18/04 May 18 Spot FX - 8,838,000 SPOT CURRENCY TRANSACTION - BUY BUY GBP SELL USD SPOT RATE : 1.767600000 TRADE 5/17/04 VALUE 5/18/04 POUND STERLING U S DOLLAR 12,340.73 Gain/Loss USD 76,019.74 - 10,000,000.00 - 17,632,019.74 Amount Amount USD 22,805.92 - 3,000,000.00 - 5,289,605.92 8,000,000.00 14,044,800.00 5,000,000.00 8,778,000.00 - 5,000,000.00 - 8,850,340.73 5,000,000.00 8,838,000.00 EFTA01553874 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 50 of 78 Account Transactions by Currency U S Dollar Activity Summary Amount this Period USD Beginning Balance Credits Dividends Sweep Account Sales Sales, Maturities, Redemptions Miscellaneous Receipts Foreign Exchange Debits Sweep Account Purchases Purchases of Securities Miscellaneous Disbursements Foreign Exchange Ending Balance - 35,677,840.38 - 4,503,418.20 - 3,041,126.24 - 153,180,397.74 .00 *Year to date information is calculated on a calendar year basis. - 123,488,419.87 - 18,548,490.20 - 3,126,467.62 - 985,956,510.06 32,972.80 1,951,257.37 2,084,831.00 192,333,721.39 140,235.85 73,307,678.13 24,917,456.00 753,054.02 1,032,001,463.75 .00 Amount Year to Date USD* U S Dollar Activity by Date Type Settlement Date May 3 Dividend Quantity Description JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) Amount USD 32,972.80 EFTA01553875 05 Settlement Date May 3 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 51 of 78 U S Dollar Activity by Date Type continued Quantity Description Spot FX - 5,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NZD SPOT RATE : 0.615000000 TRADE 4/29/04 VALUE 5/03/04 U S DOLLAR N ZEALAND DOLLAR may 3 Spot FX 5,000,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.622000000 TRADE 4/29/04 VALUE 5/03/04 N ZEALAND DOLLAR U S DOLLAR May 3 Spot FX - 5,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL AUD SPOT RATE : 0.718100000 TRADE 4/29/04 VALUE 5/03/04 U S DOLLAR AUSTRALIA DOLLAR May 3 Spot FX 5,000,000 SPOT CURRENCY TRANSACTION - BUY BUY AUD SELL USD SPOT RATE : 0.720700000 TRADE 4/30/04 VALUE 5/03/04 AUSTRALIA DOLLAR U S DOLLAR May 3 Write Option - 10,000,000 NZD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 8 .6225 WRITTEN FX OPTION CALL 10,000,000.00 NZD PUT 6,225,000.00 USD TRADE DATE 04/29/04 - 3,603,500.00 - 3,110,000.00 Amount USD 3,075,000.00 3,590,500.00 23,033.00 EFTA01553876 05 Settlement Date May 3 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 52 of 78 U S Dollar Activity by Date Type continued Quantity Description Write Option - 10,000,000 NZD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 8 .615 WRITTEN FX OPTION CALL 10,000,000.00 NZD PUT 6,150,000.00 USD TRADE DATE 04/29/04 May 3 Write Option - 10,000,000 AUD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 8 .7181 WRITTEN FX OPTION CALL 10,000,000.00 AUD PUT 7,181,000.00 USD TRADE DATE 04/29/04 May 3 May 4 Purchase Spot FX 59,790.80 10,000,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.627900000 TRADE 4/30/04 VALUE 5/04/04 N ZEALAND DOLLAR U S DOLLAR May 4 Spot FX 10,000,000 SPOT CURRENCY TRANSACTION - BUY BUY ADD SELL USD SPOT RATE : 0.718000000 TRADE 4/30/04 VALUE 5/04/04 AUSTRALIA DOLLAR U S DOLLAR - 59,790.80 - 6,279,000.00 26,570.00 Amount USD 25,215.00 - 7,180,000.00 EFTA01553877 05 Settlement Date May 4 May 4 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 53 of 78 U S Dollar Activity by Date Type continued Quantity Description Sale Spot FX - 1,149,000 10,000,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.624600000 TRADE 5/03/04 VALUE 5/04/04 N ZEALAND DOLLAR U S DOLLAR May 4 FX Option Assignment 10,000,000 AUD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 8 .7181 WRITTEN FX OPTION ASSIGNED CALL 7,181,000.00 USD PUT 10,000,000.00 AUD TRADE DATE 04/30/04 May 4 FX Opt Asgn'D - 10,000,000 SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION SELL AUD BUY USD TRADE 4/30/04 VALUE 5/04/04 May 4 FX Option Assignment 10,000,000 NZD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 8 .615 WRITTEN FX OPTION ASSIGNED CALL 6,150,000.00 USD PUT 10,000,000.00 NZD TRADE DATE 04/30/04 May 4 FX Opt Asgn'D - 10,000,000 SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION SELL NZD BUY USD TRADE 4/30/04 VALUE 5/04/04 6,150,000.00 7,181,000.00 Amount USD 1,149,000.00 - 6,246,000.00 EFTA01553878 05 Settlement Date May 4 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 54 of 78 U S Dollar Activity by Date Type continued Quantity Description FX Option Assignment 10,000,000 NZD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 @ .6225 WRITTEN FX OPTION ASSIGNED CALL 6,225,000.00 USD PUT 10,000,000.00 NZD TRADE DATE 04/30/04 May 4 FX Opt Asgn'D - 10,000,000 SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION SELL NZD BUY USD TRADE 4/30/04 VALUE 5/04/04 May 4 Misc. Disbursement FUNDS TRANSFERRED FROM BRKRG AC# Q30171005 (PRN) TO DDA AC# 000739110438 AS REQUESTED may 5 Buy-Back Opt 5,625,000 EUR CALL USD PUT FX EUROPEAN STYLE OPTION JUL 20, 2004 @ 1.24 KNOCK IN @ 1.26 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/03/04 May 5 Buy-Back Opt 5,500,000 EUR PUT USD CALL FX EUROPEAN STYLE OPTION OCT 27, 2004 @ 1.2 KNOCK IN TRIGGERED @ 1.1885 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/03/04 - 238,260.00 6,225,000.00 Amount USD - 1,000,000.00 - 51,615.00 EFTA01553879 05 Settlement Date May 5 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 55 of 78 U S Dollar Activity by Date Type continued Quantity Description Buy-Back Opt 2,200,000 GBP CALL USD PUT FX EUROPEAN STYLE OPTION MAY 24, 2004 @ 1.85 KNOCK IN @ 1.87 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/03/04 May 5 May 6 Sale Write Option - 293,273 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) -1,110,000,000 JPY PUT USD CALL FX EUROPEAN STYLE OPTION NOV 04, 2004 @ 111. KNOCK IN @ 112.5 KNOCK OUT @ 106.25 WRITTEN FX OPTION PUT 1,110,000,000.00 JPY CALL 10,000,000.00 USD TRADE DATE 04/29/04 May 6 Buy-Back Opt 5,000,000 GBP PUT USD CALL FX EUROPEAN STYLE OPTION JUN 15, 2004 @ 1.78 KNOCK IN TRIGGERED @ 1.76 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/04/04 May 6 May 7 Purchase Fwd FX Ctrct 16,070 - 968,327,520 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL JPY CONTRACT RATE : 108.960000000 TRADE 4/21/04 VALUE 5/07/04 - 16,070.00 8,887,000.00 - 121,930.00 293,273.00 138,000.00 Amount USD - 3,398.00 EFTA01553880 05 Settlement Date May 7 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 56 of 78 U S Dollar Activity by Date Type continued Quantity Description Fwd FX Ctrct 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.777400000 TRADE 4/21/04 VALUE 5/07/04 May 7 Fwd FX Ctrct - 3,212 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.785700000 TRADE 4/26/04 VALUE 5/07/04 May 7 Purchase May 10 Buy-Back Opt 5,735.67 2,500,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) TURKISH LIRA KNOCK IN PUT OPTION 10,000,000 USD ORIGINAL NOTIONAL 14 TRILLION TRL ORIGINAL NOTIONAL MAY 14 2004 @ 1,400,000 KNOCK IN TRIGGERED @ 1,420,000 BUY BACK PUT TRADE DATE 05/07/04 May 10 Buy-Back Opt 2,500,000 TURKISH LIRA KNOCK IN PUT OPTION 10,000,000 USD ORIGINAL NOTIONAL 14 TRILLION TRL ORIGINAL NOTIONAL MAY 14 2004 @ 1,400,000 KNOCK IN TRIGGERED @ 1,420,000 BUY BACK PUT May 10 Buy-Back Opt 35,000,000 TRADE DATE 05/07/04 ZAR PUT USD CALL FX EUROPEAN STYLE OPTION JUN 03, 2004 @ 7. KNOCK IN @ 7.15 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/06/04 - 148,750.00 Amount USD - 8,887,000.00 5,735.67 - 5,735.67 - 215,000.00 - 121,000.00 EFTA01553881 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 57 of 78 U S Dollar Activity by Date Type continued Quantity Description May 10 Buy-Back Opt 10,000,000 ?MD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 21, 2004 @ .625 KNOCK IN @ .6090 KNOCK OUT @ .6500 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/06/04 May 10 Buy-Back Opt 14,000,000 AUD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 14, 2004 @ .73 KNOCK IN TRIGGERED @ .71 KNOCK OUT @ .7695 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/06/04 May 10 Purchase May 10 Spot FX 9,659,896.52 110,800,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SPOT CURRENCY TRANSACTION - BUY BUY HUF SELL USD SPOT RATE : 212.500000000 TRADE 5/07/04 VALUE 5/10/04 HUNGARIAN FORINT U S DOLLAR May 10 Spot FX - 110,800,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL HUF SPOT RATE : 208.868000000 TRADE 5/07/04 VALUE 5/10/04 U S DOLLAR HUNGARIAN FORINT - 9,659,896.52 - 521,411.76 - 432,306.00 Amount USD - 166,875.00 530,478.57 EFTA01553882 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 58 of 78 U S Dollar Activity by Date Type continued Quantity Description May 10 Spot FX -2,120,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL HUF SPOT RATE : 197.489264000 TRADE 5/07/04 VALUE 5/10/04 U S DOLLAR HUNGARIAN FORINT May 11 Fwd FX Ctrct 15,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL USD CONTRACT RATE : 1.262400000 TRADE 2/09/04 VALUE 5/11/04 May 11 Fwd FX Ctrct 3,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL USD CONTRACT RATE : 1.262400000 TRADE 2/09/04 VALUE 5/11/04 May 11 Fwd FX Ctrct - 7,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL EUR CONTRACT RATE : 1.277000000 TRADE 2/11/04 VALUE 5/11/04 May 11 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL EUR CONTRACT RATE : 1.277900000 TRADE 2/12/04 VALUE 5/11/04 May 11 Fwd FX Ctrct - 6,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL EUR CONTRACT RATE : 1.241400000 TRADE 3/01/04 VALUE 5/11/04 May 11 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NZD CONTRACT RATE : 0.621100000 TRADE 4/28/04 VALUE 5/11/04 - 18,936,000.00 Amount USD 10,734,760.71 - 3,787,200.00 8,939,000.00 6,389,500.00 7,448,400.00 3,105,500.00 EFTA01553883 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 59 of 78 U S Dollar Activity by Date Type continued Quantity Description May 11 Fwd FX Ctrct 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY NZD SELL USD CONTRACT RATE : 0.621400000 TRADE 4/29/04 VALUE 5/11/04 May 11 Write Option - 15,000,000 AUD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 10, 2004 @ .71 KNOCK IN @ .699 KNOCK OUT @ .74 WRITTEN FX OPTION PUT 15,000,000.00 AUD CALL 10,650,000.00 USD TRADE DATE 05/07/04 May 11 Buy-Back Opt 10,000,000 NZD PUT USD CALL FX EUROPEAN STYLE OPTION SEP 13, 2004 @ .63 KNOCK IN @ .60 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/07/04 May 11 Write Option - 15,000,000 NZD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 10, 2004 @ .615 KNOCK IN TRIGGERED @ .60 KNOCK OUT @ .642 WRITTEN FX OPTION PUT 15,000,000.00 NZD CALL 9,225,000.00 USD TRADE DATE 05/07/04 290,588.00 - 319,410.00 Amount USD - 3,107,000.00 430,260.00 EFTA01553884 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 60 of 78 U S Dollar Activity by Date Type continued Quantity Description May 11 Buy-Back Opt 10,000,000 AUD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 25, 2004 @ .7275 KNOCK IN TRIGGERED @ .72 KNOCK OUT @ .7625 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/07/04 May 11 Purchase May 11 Spot FX 63,972.55 - 355,300,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SPOT CURRENCY TRANSACTION - SALE BUY USD SELL HUF SPOT RATE : 209.000000000 TRADE 5/07/04 VALUE 5/11/04 U S DOLLAR HUNGARIAN FORINT May 11 Spot FX 355,300,000 SPOT CURRENCY TRANSACTION - BUY BUY HUF SELL USD SPOT RATE : 215.300000000 TRADE 5/10/04 VALUE 5/11/04 HUNGARIAN FORINT U S DOLLAR May 12 Misc. Disbursement WALT DISNEY CO TOTAL RETURN SWAP 11,920,650 USD NOTIONAL FEB 14 2005 DEAL REF t 2361214 WALT DISNEY CO EQUITY SWAP QUARTERLY INTEREST PAYMENT - 1,650,255.45 - 63,972.55 1,700,000.00 Amount USD - 439,410.00 - 41,126.24 EFTA01553885 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 61 of 78 U S Dollar Activity by Date Type continued Quantity Description May 12 Sell Option - 6,667,000 EUR PUT CHF CALL FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.55 RESALE OF PURCHASED FX OPTION TRADE DATE 05/10/04 May 12 Buy-Back Opt 35,000,000 ZAR PUT USD CALL FX EUROPEAN STYLE OPTION JUN 03, 2004 @ 7. KNOCK IN @ 7.15 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/10/04 May 12 sale May 13 Fwd FX Ctrct - 107,613.24 - 8,000,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL AUD CONTRACT RATE : 0.727300000 TRADE 5/04/04 VALUE 5/13/04 May 13 Fwd FX Ctrct - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.791100000 TRADE 5/04/04 VALUE 5/13/04 May 13 Fwd FX Ctrct - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NZD CONTRACT RATE : 0.632000000 TRADE 5/04/04 VALUE 5/13/04 May 13 Fwd FX Ctrct -1,041,150,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL HUF CONTRACT RATE : 208.230000000 TRADE 5/04/04 VALUE 5/13/04 107,613.24 5,818,400.00 - 159,000.00 Amount USD 92,513.00 17,911,000.00 6,320,000.00 5,000,000.00 EFTA01553886 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 62 of 78 U S Dollar Activity by Date Type continued Quantity Description May 13 Fwd FX Ctrct - 3,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.795600000 TRADE 5/06/04 VALUE 5/13/04 May 13 Spot FX - 355,300,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL HUF SPOT RATE : 215.444000000 TRADE 5/10/04 VALUE 5/13/04 U S DOLLAR HUNGARIAN FORINT May 13 Spot FX 8,000,000 SPOT CURRENCY TRANSACTION - BUY BUY GBP SELL USD SPOT RATE : 1.755600000 TRADE 5/11/04 VALUE 5/13/04 POUND STERLING U S DOLLAR May 13 Spot FX 5,000,000 SPOT CURRENCY TRANSACTION - BUY BUY GBP SELL USD SPOT RATE : 1.755600000 TRADE 5/11/04 VALUE 5/13/04 POUND STERLING U S DOLLAR May 13 Spot FX 3,000,000 SPOT CURRENCY TRANSACTION - BUY BUY AUD SELL USD SPOT RATE : 0.696600000 TRADE 5/11/04 VALUE 5/13/04 AUSTRALIA DOLLAR U S DOLLAR - 14,044,800.00 Amount USD 5,386,800.00 1,649,152.44 - 8,778,000.00 - 2,089,800.00 EFTA01553887 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 63 of 78 U S Dollar Activity by Date Type continued Quantity Description May 13 Spot FX 5,000,000 SPOT CURRENCY TRANSACTION - BUY BUY AUD SELL USD SPOT RATE : 0.696600000 TRADE 5/11/04 VALUE 5/13/04 AUSTRALIA DOLLAR U S DOLLAR May 13 Spot FX 5,000,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.605900000 TRADE 5/11/04 VALUE 5/13/04 N ZEALAND DOLLAR U S DOLLAR May 13 Spot FX 5,000,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.605900000 TRADE 5/11/04 VALUE 5/13/04 N ZEALAND DOLLAR U S DOLLAR May 13 Spot FX 1,396,450,000 SPOT CURRENCY TRANSACTION - BUY BUY HUF SELL USD SPOT RATE : 213.500000000 TRADE 5/12/04 VALUE 5/13/04 HUNGARIAN FORINT U S DOLLAR May 13 Purchase 700,003.03 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) Amount USD - 3,483,000.00 - 3,029,500.00 - 3,029,500.00 - 6,540,749.41 - 700,003.03 EFTA01553888 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 64 of 78 U S Dollar Activity by Date Type continued Quantity Description May 13 Buy-Back Opt 5,000,000 TURKISH LIRA KNOCK IN PUT OPTION 10,000,000 USD ORIGINAL NOTIONAL 14 TRILLION TRL ORIGINAL NOTIONAL MAY 14 2004 @ 1,400,000 KNOCK IN TRIGGERED @ 1,420,000 BUY BACK OTC PUT TRADE DATE 05/12/04 May 14 Buy-Back Opt 10,000,000 EUR CALL CHF PUT FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.565 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/12/04 May 14 Sell Option - 10,000,000 EUR PUT CHF CALL FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.55 RESALE OF PURCHASED FX OPTION TRADE DATE 05/12/04 May 14 Buy-Back Opt 4,000,000 AUD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 11, 2004 @ .7775 KNOCK IN TRIGGERED @ .7565 KNOCK OUT @ .8020 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/12/04 May 14 Write Option - 4,000,000 AUD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 11, 2004 @ .69 KNOCK IN @ .67 WRITTEN FX OPTION PUT 4,000,000.00 AUD CALL 2,760,000.00 USD TRADE DATE 05/12/04 91,908.00 - 365,425.00 141,431.00 Amount USD - 390,000.00 - 11,017.00 EFTA01553889 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 65 of 78 U S Dollar Activity by Date Type continued Quantity Description May 14 Buy-Back Opt 12,000,000 NZD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 19, 2004 @ .63 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/12/04 May 14 Write Option - 15,000,000 NZD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 19, 2004 @ .61 KNOCK IN @ .58 WRITTEN FX OPTION PUT 15,000,000.00 NZD CALL 9,150,000.00 USD TRADE DATE 05/12/04 May 14 Write Option - 15,000,000 NZD CALL USD PUT FX EUROPEAN STYLE OPTION JUN 10, 2004 @ .62 KNOCK IN @ .635 WRITTEN FX OPTION CALL 15,000,000.00 NZD PUT 9,300,000.00 USD TRADE DATE 05/12/04 May 14 Sale May 17 Purchase - 153,489 142,769 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) 153,489.00 - 142,769.00 91,140.00 364,170.00 Amount USD - 465,696.00 EFTA01553890 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 66 of 78 U S Dollar Activity by Date Type continued Quantity Description May 17 Write Option - 12,000,000 EUR CALL USD PUT FX EUROPEAN STYLE OPTION JUN 15, 2004 @ 1.185 KNOCK IN TRIGGERED @ 1.2 WRITTEN FX OPTION CALL 12,000,000.00 EUR PUT 14,220,000.00 USD TRADE DATE 05/14/04 May 18 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.753500000 TRADE 5/11/04 VALUE 5/18/04 May 18 Write Option - 5,000,000 AUD CALL USD PUT FX EUROPEAN STYLE OPTION JUN 16, 2004 @ .69 KNOCK IN @ .71 WRITTEN FX OPTION CALL 5,000,000.00 AUD PUT 3,450,000.00 USD TRADE DATE 05/14/04 May 18 Sale May 18 Spot FX - 21,855 5,000,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SPOT CURRENCY TRANSACTION - BUY BUY GBP SELL USD SPOT RATE : 1.767600000 TRADE 5/17/04 VALUE 5/18/04 POUND STERLING U S DOLLAR 21,855.00 - 8,838,000.00 8,767,500.00 Amount USD 142,769.00 48,645.00 EFTA01553891 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 67 of 78 U S Dollar Activity by Date Type continued Quantity Description May 19 Spot FX - 5,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL AUD SPOT RATE : 0.689900000 TRADE 5/17/04 VALUE 5/19/04 U S DOLLAR AUSTRALIA DOLLAR May 19 Spot FX 5,000,000 SPOT CURRENCY TRANSACTION - BUY BUY AUD SELL USD SPOT RATE : 0.691500000 TRADE 5/17/04 VALUE 5/19/04 AUSTRALIA DOLLAR U S DOLLAR May 19 Sale May 20 Write Option - 8,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) - 10,000,000 NZD CALL USD PUT FX EUROPEAN STYLE OPTION MAY 19, 2004 a .6033 WRITTEN FX OPTION CALL 10,000,000.00 NZD PUT 6,033,000.00 USD TRADE DATE 05/18/04 May 20 Purchase May 21 Sell Option 19,607 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) - 96,774 EUR PUT CHF CALL FX EUROPEAN STYLE OPTION JUN 25, 2004 a 1.55 RESALE OF PURCHASED FX OPTION TRADE DATE 05/18/04 - 19,607.00 1,620.70 - 3,457,500.00 Amount USD 3,449,500.00 8,000.00 19,607.00 EFTA01553892 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 68 of 78 U S Dollar Activity by Date Type continued Quantity Description May 21 Sell Option - 3,429,774 EUR PUT CHF CALL FX EUROPEAN STYLE OPTION JUN 25, 2004 Q 1.55 RESALE OF PURCHASED FX OPTION TRADE DATE 05/18/04 May 21 Write Option - 10,000,000 NZD CALL USD PUT FX EUROPEAN STYLE OPTION MAY 20, 2004 Q .605 WRITTEN FX OPTION CALL 10,000,000.00 NZD PUT 6,050,000.00 USD TRADE DATE 05/19/04 May 21 Write Option - 10,000,000 NZD PUT USD CALL FX EUROPEAN STYLE OPTION MAY 20, 2004 Q .605 WRITTEN FX OPTION PUT 10,000,000.00 NZD CALL 6,050,000.00 USD TRADE DATE 05/19/04 May 21 Write Option - 10,000,000 AUD CALL USD PUT FX EUROPEAN STYLE OPTION MAY 20, 2004 Q .695 WRITTEN FX OPTION CALL 10,000,000.00 AUD PUT 6,950,000.00 USD TRADE DATE 05/19/04 24,673.00 25,108.00 22,688.00 Amount USD 57,439.30 EFTA01553893 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 69 of 78 U S Dollar Activity by Date Type continued Quantity Description May 21 Write Option - 10,000,000 AUD PUT USD CALL FX EUROPEAN STYLE OPTION MAY 20, 2004 Q .695 WRITTEN FX OPTION PUT 10,000,000.00 AUD CALL 6,950,000.00 USD TRADE DATE 05/19/04 May 21 Purchase May 21 Spot FX 132,982 10,000,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.605900000 TRADE 5/20/04 VALUE 5/21/04 N ZEALAND DOLLAR U S DOLLAR May 21 FX Option Assignment 10,000,000 NZD CALL USD PUT FX EUROPEAN STYLE OPTION MAY 19, 2004 Q .6033 WRITTEN FX OPTION ASSIGNED CALL 6,033,000.00 USD PUT 10,000,000.00 NZD TRADE DATE 05/19/04 May 21 FX Opt Asgn'D - 10,000,000 SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION SELL NZD BUY USD TRADE 5/19/04 VALUE 5/21/04 May 24 Fwd FX Ctrct 1,087,300,000 SETTLE FORWARD CURRENCY CONTRACT BUY JPY SELL USD CONTRACT RATE : 108.730000000 TRADE 2/20/04 VALUE 5/24/04 6,033,000.00 - 132,982.00 - 6,059,000.00 Amount USD 27,453.00 - 10,000,000.00 EFTA01553894 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 70 of 78 U S Dollar Activity by Date Type continued Quantity Description May 24 Fwd FX Ctrct -1,087,300,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL JPY CONTRACT RATE : 109.390000000 TRADE 3/02/04 VALUE 5/24/04 May 24 Fwd FX Ctrct 105,470,000 SETTLE FORWARD CURRENCY CONTRACT BUY JPY SELL USD CONTRACT RATE : 108.880000000 TRADE 4/21/04 VALUE 5/24/04 May 24 Spot FX - 10,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL AUD SPOT RATE : 0.693700000 TRADE 5/20/04 VALUE 5/24/04 U S DOLLAR AUSTRALIA DOLLAR May 24 Spot FX 5,000,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.604000000 TRADE 5/20/04 VALUE 5/24/04 N ZEALAND DOLLAR U S DOLLAR May 24 Spot FX - 5,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NZD SPOT RATE : 0.603600000 TRADE 5/20/04 VALUE 5/24/04 U S DOLLAR N ZEALAND DOLLAR - 3,020,000.00 Amount USD 9,939,665.42 - 968,681.12 6,937,000.00 3,018,000.00 EFTA01553895 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 71 of 78 U S Dollar Activity by Date Type continued Quantity Description May 24 Spot FX 10,000,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.605700000 TRADE 5/20/04 VALUE 5/24/04 N ZEALAND DOLLAR U S DOLLAR May 24 Sale May 24 Spot FX - 115,027.13 - 105,470,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SPOT CURRENCY TRANSACTION - SALE BUY USD SELL JPY SPOT RATE : 112.683000000 TRADE 5/24/04 VALUE 5/24/04 U S DOLLAR JAPANESE YEN May 24 FX Option Assignment 10,000,000 NZD CALL USD PUT FX EUROPEAN STYLE OPTION MAY 20, 2004 8 .605 WRITTEN FX OPTION ASSIGNED CALL 6,050,000.00 USD PUT 10,000,000.00 NZD TRADE DATE 05/20/04 May 24 FX Opt Asgn'D - 10,000,000 SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION SELL NZD BUY USD TRADE 5/20/04 VALUE 5/24/04 6,050,000.00 Amount USD - 6,057,000.00 115,027.13 935,988.57 EFTA01553896 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 72 of 78 U S Dollar Activity by Date Type continued Quantity Description May 24 FX Option Assignment 10,000,000 AUD PUT USD CALL FX EUROPEAN STYLE OPTION MAY 20, 2004 a .695 WRITTEN FX OPTION ASSIGNED CALL 10,000,000.00 AUD PUT 6,950,000.00 USD TRADE DATE 05/20/04 May 24 FX Opt Asgn'D 10,000,000 SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION BUY AUD SELL USD TRADE 5/20/04 VALUE 5/24/04 May 26 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL AUD CONTRACT RATE : 0.684900000 TRADE 5/17/04 VALUE 5/26/04 May 26 Sale May 26 Spot FX - 103,000 5,000,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SPOT CURRENCY TRANSACTION - BUY BUY AUD SELL USD SPOT RATE : 0.705500000 TRADE 5/25/04 VALUE 5/26/04 AUSTRALIA DOLLAR U S DOLLAR May 27 Spot FX - 14,941,124.64 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL EUR SPOT RATE : 1.210100000 TRADE 5/25/04 VALUE 5/27/04 U S DOLLAR EURO PRINCIPAL CURRENCY - 6,950,000.00 Amount USD 3,424,500.00 103,000.00 - 3,527,500.00 18,080,254.93 EFTA01553897 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 73 of 78 U S Dollar Activity by Date Type continued Quantity Description May 27 Buy-Back Opt 15,000,000 NZD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 19, 2004 @ .61 KNOCK IN @ .58 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/25/04 May 27 Buy-Back Opt 15,000,000 AUD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 10, 2004 @ .71 KNOCK IN @ .699 KNOCK OUT @ .74 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/25/04 May 27 Buy-Back Opt 1,100,000 EUR PUT USD CALL FX EUROPEAN STYLE OPTION OCT 27, 2004 @ 1.22 KNOCK IN @ 1.202 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/25/04 May 27 Buy-Back Opt 5,000,000 NZD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 10, 2004 @ .615 KNOCK IN TRIGGERED @ .60 KNOCK OUT @ .642 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/25/04 May 27 Purchase 15,225,928.73 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) - 15,225,928.73 - 103,013.00 - 46,433.20 - 379,140.00 Amount USD - 325,740.00 EFTA01553898 05 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 74 of 78 U S Dollar Activity by Date Type continued Quantity Description May 27 Misc. Disbursement FUNDS TRANSFERRED FROM BRXRG ACt Q30171005 (PRN) TO DDA AC# 000739110438 LETTER FROM CLIENT May 28 Spot FX - 110,118,880.77 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL MXN SPOT RATE : 11.410000000 TRADE 5/26/04 VALUE 5/28/04 U S DOLLAR MEXICAN NEW PESO May 28 Purchase 9,651,085.08 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) - 9,651,085.08 Amount USD - 2,000,000.00 9,651,085.08 In Case of Errors or Questions About Your Electronic Transfers. Contact yourMorgan Teamat one ofthe telephonenumbers on the front of this statement or write us at 5 00 Stanton ChristianaRoad, 1/OPS, Newark,DE19713-2107 as soon as you can, if you think yourstatement is wrong or if you needmore information about a transfer on the statement. We must hearfrom you no laterthan 60 days afterwe sent you the FIRSTstatement on w hich the erroror problem appeared. (1) Tellus yourname and account number. (2) Describethe erroror t he transferyou are unsure about, and explainas clearly as you can why you believe it is in erroror why you need more information. (3) tell us the dollaramount of the suspected error. Ifyou contact us orally, you must send us your complaint or question in wri ting within 10 business days in order to preserveyour rights. We will investigateyourcomplaint and will correct any errorpromptly. Ifwe take more than 10 business days to do this (20 days for purchases using yourdebit card or for internationaltransactions),we will credi t youraccount for the amount you think is in error, so that you will have the use ofmoneyduring the time it takes us to complete our investigation. In case of errors or questions about your statement, including your line of credit. If you think that your statement is incorrect or if you need more information about a transaction on your statement including a line of credit transaction, you must write to us on a separate sheet des cribing the error and send it to: JPMorgan, Private Bank, 500 Stanton Christiana Road, 1/OPS3, Newark, DE 19713-2107. We must hear from you no 1 ater than 60 days after the statement on which the error or problem appeared is sent. You can contac t your client service specialist but doing so will not preserve your rights. In your letter, please provide the following information: (1) your name and account number; (2) the dollar amount of the suspected error; and (3) a description of the error and explanation, if you can , why you believe there is an error. If you need more information, you must describe the item you are unsure about. EFTA01553899 05 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2004 - May 31, 2004 Page 75 of 78 The JPMorgan Funds or The JPMorgan Institutional Funds or The American Century Funds Shares of the funds are not bank deposits and are not guaranteedby any bank, governmententity, or th e FDIC. Return and share price will fluctuate and redemption valuemay be more or less than original cost. While the money marketfunds seekto maintain a stable net asset valueof$1.00 pershare, there is no assurancethat they will continue to do so. The estimatedann ualincome and dividendyieldfigures for mutual funds representthe funds' most recentincome dividendan nualized. J.P. Morgan Funds Distributor, Inc. is the distributor of the JPMorgan Funds and American Centurylnv estmentServices, Inc. is the distributor of the American CenturyFunds. J.P. Morgan InvestmentManagem entlnc. and American CenturylnvestmentManagement Inc. serveas investment advisors to theirrespectivefund familiesand receivecompensation from theirrespect ivefund families for providing investment advisoryand other services. If you have chosen one of the sweep mutual funds, you are notified that positions in the Prime Money Market Sweep Fund represent holdings in the JPMorgan Prime Money Market Fund; positions in the Fede ralMoney Market Sweep Fund represent holdings in the JPMorgan FederalMoneyMarketFund; and positions in the TaxExemptMoneyMarketSweep Fund representholdin gs in the JPMorgan TaxExemptMoneyMarketFund. JPMSI is the custodian of listed options and all mutual funds purchasedthrough JPMSI excludingJPMorg an and AmericanCenturyfunds. JPMSI is a memberof the Securities InvestorProtection Corporation ("SIPC"),a not-for-profit membersh ip corporation funded by broker-dealersregisteredwith the Securitiesand ExchangeCommission. Securiti esand cash held for a customer account at JPMSI are protected up to the total net equity of each account.. The first $500,000 of protection, which includes up to $ 100,000 of protection for cash, is providedby SIPC. As ofMarch 2004, the balanceof the protection is providedby a separateExcessSlPC SuretyBond issued by Customer Asset Protection Company. SIPCand excessSlPCprotection do not protect against losses from fluctuatio ns in the valueof the securities. Assets held in custody by JPMorgan ChaseBank(the "Bank")are not su bject to SIPCor excessSlPC protection. J.P. Morgan Securities Inc., JPMorgan Chase Bank or their affiliates (the "Morgan Companies")may pro vide administrative, custodial, sales, distribution or shareholderservices to JPMorgan Funds, Americ an Century Funds, or funds established, sponsored, advised, or managedby third parties, and the Morgan Companiesmaybe compensatedfor such services. JPMorgan Private Bank is the marketing name for the private banking business conducted by J.P.Morgan Chase & Co. through its subsidiaries worldwide, including JPMorgan Chase Bank, J.P. Morgan Trust Co mpany, N.A. and J.P. Morgan Securities Inc. EFTA01553900 05 J.P. Morgan Securities Inc. 2004 Account Number: 161121381 FINANCIAL TRUST COMPANY INC 270 Park Avenue, New York, NY 10017 Margin Account Portfolio May 01, 2004 - May 31, 2004 Page 76 of 78 Margin Account Portfolio May 1 - May 31, 2004 Table of Contents Portfolio Summary Account Officers D'ORAZIO/HORNAK Page 77 All positions in this Margin Account Portfolio are held in custody at J.P. Morgan Securities Inc. (mJPMSI"). Member SIPC. EFTA01553901 05 J.P. Morgan Securities Inc. 2004 Account Number: 161121381 FINANCIAL TRUST COMPANY INC 270 Park Avenue, New York, NY 10017 Margin Account Portfolio May 01, 2004 - May 31, 2004 Page 77 of 78 Overview Portfolio Summary IMPORTANT INFORMATION ABOUT YOUR STATEMENT Contact your client service specialist if you think your statement is incorrect or you require addit ional information about a transaction on your statement. Market Value USD Total May 31 0.00 Estimated Annual Income USD JPMSI is a memberof the Securities InvestorProtection Corporation ("SIPCm),a not-for-profit membersh ip corporation funded by broker-dealersregisteredwith the Securitiesand ExchangeCommission. Securiti esand cash held for a customer account at JPMSI are protected up to the total net equity of each account.. The first $500,000 of protection, which includes up to $ 100,000 of protection for cash, is providedby SIPC. As ofMarch 2004, the balanceof the protection is providedby a separateExcessSlPC SuretyBond issued by Customer Asset Protection Company. SIPCand excessSlPCprotection do not protect against losses from fluctuatio ns in the valueof the securities. Assets held in custody by JPMorgan ChaseBank(the "Bank")are not su bject to SIPCor excessSlPC protection. J.P. Morgan Securities Inc., JPMorgan Chase Bank or their affiliates (the "Morgan Companies")may pro vide administrative, custodial, sales, distribution or shareholderservices to JPMorgan Funds, Americ an Century Funds, or funds established, sponsored, advised, or managedby third parties, and the Morgan Companiesmaybe compensatedfor such services. EFTA01553902 05 J.P. Morgan Securities Inc. 2004 Account Number: 161121381 FINANCIAL TRUST COMPANY INC 270 Park Avenue, New York, NY 10017 Margin Account Portfolio May 01, 2004 - May 31, 2004 Page 78 of 78 IMPORTANT INFORMATION ABOUT YOUR JPMSI MARGIN ACCOUNT If there are any errors or omissions on this statement, or if you have any questions about it, pleas e contact your JPMSI Account Representative or JPMSI Compliance Department at (212) 483-2323. Please keep the following in mind when using this statement to track your JPMSI brokerage activity: This statement combines your general margin account with the special memorandum account required by Section 220.6 Regulation T. As required by Regulation T, a permanent record of your separate account is available upon your requ est. Important Information about Pricing and Valuations. Prices, some of which are provided by pricing services or other sources which we deem reliable, are not guaranteed for accuracy or as realizable values Free credit balances in your account are not segregated and may be used in the operation of JPMSIs b usiness, subject to the limitations of SEC Rule 15c3-3. Unless otherwise instructed, JPMSI or its ag ents and depositories will hold your securities. Upon your demand, JPMSI will pay to you the amount of your free credit balance, and will deliver to you f ully-paid securities held on your behalf. Interest will be charged on any debit balance; the method of calculating interest is described in a letter sent to all margin customers. Upon written request, JPMSI will supply you with our most recen t statement required to be furnished to customers under SEC Rule 17a-5(c). If a partial call is made with respect to an issue of securities included in your Margin Account we will allocate the call by a method we deem fair and equitable. You should have received separate JPMSI trade confirmations for each securities transaction. All tra nsactions are subject to the terms and conditions stated on the reverse side of such confirmations a nd are subject to the constitution, by-laws, customs and interpretations of the marketplace where executed and governed by and construed in accordance wi th the laws of the state of New York and all applicable federal laws and regulations. You must promptly advise JPMSI of material changes in your investment objectives or financial situat ion. Unless you inform JPMSI otherwise, JPMSI will consider the information currently in its files t o be complete and accurate. JPMSI is required by law to report to the Internal Revenue Service all dividends and/or interest inc ome on bonds credited to your account during calendar year. Please retain all your statements to ass ist you in preparing your income tax returns. A financial statement of JPMSI is available for your personal inspection at its offices, or a copy o f it will be mailed upon your written request. JPMSI is not a bank and is a separate legal entity from its bank or thrift affiliates, including JPM CB. The securities sold, offered or recommended by JPMSI: (1) Are not insured by the Federal Deposit Insurance Corporation, or any other governmental agency; (2) Are not deposits or other obligations of JPMSI's bank or thrift affiliates (unless otherwise ind lasted), and are not guaranteed by or the responsibility of any such affiliates(unless explicitly st ated otherwise); and (3) Involve investment risks, including possible loss of the principal invested. JPMSI's banking affiliates may be lenders to issuers of securities that JPMSI underwrites, in which case proceeds of offerings underwritten by JPMSI may be used for the repayment of such loans, and yo u should refer to the disclosure documents relating to particular securities for discussion of any such lending relationships. The Federal Reserve requires that JPMSI obtain your consent before it can obtain certain information from its bank or thrift affiliates, including their credit evaluation of you. We will assume that y our continuing to transact business with JPMSI will constitute your consent to the sharing of such information by JPMSI and its bank or thrift affiliate s, to the extent permitted by law. JPMorgan Private Bank is the marketing name for the private banking business conducted by J.P. Morga n Chase a Co. through its subsidiaries worldwide, including JPMCB and JPMSI. EFTA01553903