Epstein Secrets

und affiliate and not from the fund's assets and, therefore. have no impact on a fund's expense ratio or yield. Vith respect to money market funds. Bear Steams negotiates revenue sharing payments separately with each fund family and not all fund families pay the same amount or pay according to the same for

RN ea imindocl is sts. Oectrnes TVM *nese% add be nnlowl lays, marts Se Tyne sdrp irrostirt kitangSes 027 O7.O1,O6.1S55 007 VID I EFTA01320678 BEAR STEARNS OFIXE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue New York. New 'WI( 10179 2 0 3 Your messages ita? 0 m C in r Z6,

PAGE 027 0IO Q5 '0 6S 001 •/9„ EFTA01320680 9811:1700- V1.43 0 -n C in r _ t6tOS£00 IN9 ANGS BEAR STEARNS OFFICE %TWANG YOUR ACCOUNT Bear, Stearns & Co. km. 383 Medtson Avenue New York Now York 10179 ACCOUNT EXECUTIVE GNMA GOVT BOND VISIT OUR WEBSITE mvw.bearsteams.com What's In This Statement

o was a ntss retail 2518 EFTA01321761 05-4/19) THROUGH ITS 0.10447, OVATE0 808307/fat 6t6tii:00- V.L.43 0 -n C in r _ LSZZS£00 IN9 ANGS BEAR STEARNS OTDCE SERVICING YOUR ACCOUNT Bear. Steams & Co. Inc. 383 Madison Avenue Now Trek. New York 10179 (212) 272.2030 4 al Your Portfolio Holdings

Or.] Pen Roo *PRO* Men ROTOR,* ratbro 027 011101/701 001 „,,,„ EFTA01321812 Tn I8 IJ IJ 8 0 BEAR STUWNS OFFICE SERVICII% YOUR ACCOUNT Bert Stearn, & Co. Inc. 245 Pat Avenue New Yak, New York 10167 (212) 272-2000 0..fac; nacvos rT8 wt•Or.- am» SuStuOMAr BY sones cap. One I/aviedi Geier M

000 7.54 Oh OWNINT:TIASS COI YSCO EFTA01321780 8961,ZZOO-Vin 0 m cim H r 9LZZS£00 IND ANDS BEAR STBt\RNS OFFICE SUNNING YOUR ACCOUNT Bear, Stearns & Co. Ile. 245 Park Avenue New York. New York 10167 (212) 272-2000 Transaction Detail (continued) INTEREST (continued) DAN 09/21/01 INTEREST ON CRE

01 02/12/01 SOLD PSUN -1.800 32.41960 58.338.33 02/21/0122:22. EFTA01323495 (T1 8 IJ IJ -4 Li) 0 m cim H r TVLI7SE00- 01D- ANGS BEAR STEARNS Cf VICE SERVICWG YOUR ACCOUNT Bear. Stearns & Co. Inc. 245 Palk MEMO Now Pont. New Yolk 10167 2C Transaction Detail (continued) INVESTMENT ACTIVIT

/01 02/22/01 SOW VENATOR GROUP INC Z -9.050.00 10 6163 95.425.81 027 02/0.0112:2110 EFTA01323505 -n C rn z -H r ISLPSE00- 019- ANGS BEAR STEARNS =cc SERYICNG 'KW ACCOUNT Bear. Stearns 6 Co. Inc. 245 Park Avenue New York. New York 10167 36 o, Trades Executed Pending Settlement (continued) STA

.2000 COT 01,27,01:1533 I N EFTA01323511 6ttLiZOO- V.L.43 0 -n C rn r _ LSLPS£00 IN9 ANGS BEAR STEARNS orncE SERVICING YOUR ACCOUNT Bear, Stearns & Co. Ix. 245 Park Avenue N Y N Yoh 10167 6 oft' Your Portfolio Holdings (continued) aim= natovora ITS **HOLLY crerrED SLISSOARY LA. Son Secate,

s reports on internal control over financial reporting, required by Rule 302 of the Sarbanes-Oxley Act, were materially false and misleading because Bear Stearns' internal controls were ineffective. The Officer Defendants' statements were false and misleading because Bear Stearns' internal controls were signif

the losses on the remaining $845 million exposure were ultimately recorded, or if those losses were in fact ever recognized prior to its collapse. b. Bear Stearns' Financial Statements Misrepresented its Exposure to Decline in the Value of RIs 389. Statement of Financial Accounting Standards No. 140, Accounti

the financial statements of the High Grade Fund for the year ended December 31, 2006 stated: "[t]he Master Fund may invest in securities issued by Bear, Stearns & Co., Inc. or an affiliate. At December 31, 2006, $751,840,048 (approximately 81.96% of net assets) is invested in such securities." 138 EFTA00316866