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Statements EFTA00195538 CLEARED THROUGH ITS 19/HOLLY OWNED SUBSIDIARY BEAR STEARNS OFFCE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. 383 Madison Avenue New York• Nave York 10179 'WOW EXECUTIVE GNMA GOVT BOND VISIT OUR WEB

XPAYER AMMER On Foe LAST STATEMENT March 30.2007 SPECIAL NOTICE FOR MARGIN CUSTOMERS If you are a customer with a margin account, you consent to Bear Steams right to use, lend or pledge any securities held by Bear Stearns in your margin account, In certain circumstances, such loans or other use may limi

the preferential tax treatment accorded to dividends. In an effort to maximize execution quality, Bear Stearns may route your equity orders to its Smart Order Router (SOR), The SOR accepts limit and market orders and automates their routing across several sources of liquidity in an attempt to maximize price and

30.2007 THROUGH Jul/ 31.2007 ACCCUPIT NUMBER TAXPAYER AVNSER On File LAST STATEMENT June 29.2007 Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock's total return relative

UMBER TAXPAYER KAMER On File LAST STATEMENT June 29.2007 027 OW0110707:19 001 W15 EFTA00197039 CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY BEAR STEARNS OFFICE SEMACiNG YOUR ACcOONT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York, Nell York 10179 6 TIT Transaction Detail INVESTMENT ACTIVITY

the preferential tax treatment accorded to dividends. In an effort to maximize execution quality, Bear Stearns may route your equity orders to its Smart Order Router (SOR), The SOR accepts limit and market orders and automates their routing across several sources of liquidity in an attempt to maximize price and

ARITABLE 2 of s STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0901107:1007 001 W19 EFTA00199147 CLEARED THROUGH ITS WHOLLY ORIVED SUOSIDIAAv BEAR STEARNS OFFCE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York New York 10179 3 cis Cash Flow Analysis Income Summary TMs

AXPAYER AMMER On File LAST STATEMENT May 31.2007 SPECIAL NOTICE FOR MARGIN CUSTOMERS If you are a customer with a margin account, you consent to Bear Steams right to use, lend or pledge any securities held by Bear Stearns in your margin account, In certain circumstances, such loans or other use may limi

the preferential tax treatment accorded to dividends. In an effort to maximize execution quality, Bear Stearns may route your equity orders to its Smart Order Router (SOR), The SOR accepts limit and market orders and automates their routing across several sources of liquidity in an attempt to maximize price and

EPSTEIN 2 or 7 STATEMENT BACKER IS PRINTED ON THIS PAGE 027 0E001107071 9 001 W15 EFTA00201077 CLEARED THROUGH ITS INHCU.Y OMED SUOSIDIATiv BEAR STEARNS OFFCE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York. New York 10179 3 r/ Cash Flow Analysis Income Summary THIS

the preferential tax treatment accorded to dividends. In an effort to maximize execution quality, Bear Stearns may route your equity orders to its Smart Order Router (SOR), The SOR accepts limit and market orders and automates their routing across several sources of liquidity in an attempt to maximize price and

D June 30.2007 THROUGH Jul 31.2007 ACCOUNT NUMBER TAXPAYER AMMER On File LAST MAMIE& June 29.2007 Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the BSC Equity Research Department. The first rating represents the stock's total return relative

TAXPAYER IDJUSER On File LAST STATEMENT May 31.2007 In an effort to maximize execution quality, Bear Stearns may route your equity orders to its Smart Order Router (SOR). The SOR accepts limit and market orders and automates their routing across several sources of liquidity in an attempt to maximize price and

,277,551 Your Portfolio Holdings Independent. third-party research on certain companies covered by the Firm's research is available to Customers of Bear Stearns at no cost, Customers can access this research at Www bearcteam VON or can call (800) 517-2327 to request that a copy of this research be sent to th

the preferential tax treatment accorded to dividends. In an effort to maximize execution quality. Boar Stearns may route your equity orders to its Smart Order Router (SOR). The SOR accepts limit and market orders and automates their routing across several sources of liquidity in an attempt to maximize price and

5.2.050.49 51.175.49 r127 042300702.0 001 3011 EFTA01320308 CLEARED THIOUOn FT3 vaipuy OATS) 8LOSIDIAJn. C) -n C in r MOSE00- 019- ANGS BEAR STEARNS OFFCE SERviCING YOUR ACCCUNT Beet. Steams & Co. Inc. 383 Madison Avenue N YrkNew Vat 10179 6 co , Transaction Detail (continued) DIVIDENDS Bo

41R TOJCPAYIST KUM On Fie LAST STATD/Cla May 31.1007 In an effort to maximize execution quality, Bear Steams may route your equity orders to its Smart Order Router (SOP). The SOR accepts limit and market orders and automates their routing across several sources of liquidity in an attempt to maximee price and m