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Inc. 383 Madison Avenue mar k 10179 4 at Your Portfolio Holdings (continued) EQUITIES Equities & Options Independent. third-party research on Celan companies catered by the Firm's research is av rs of Bear Steams at no cost. Customers can access this research at www.bearSteams scorn or can call
s so. inpaun 027 Omni 0500 49 0)1 new Scent Swine/ 070 Ole Minoan Genet Pa, 1120101159 EPSTEIN INTERESTS srAnmor 033000 MVO 1.2005 1)*:00314 Wirth 31. 2005 ACCOORT 1.1.1WER TnxPArEn want On F1.3 LAST smeyeer retnari ae. 2005 1576 EFTA01320213 CALAR80 imat:“.4 'mare M.4-0 SUBS0LARy Bea
anoxia Moat. -mostmere secure* anclicing direct esti:Orion pagan rod re.), mate n*arnall trUft senates/aid sincivedvaluas teegaeraly hghli mllpdd Celan structuod prothashaa nor been rettioned mt. the Starnes and ExthaVk Conmssi:n or oath( any stag secure*, Lams We peon* estmaed mix" fa private mo
of that owe WSJ in out nailer:ninon:wenn for os cleats Calleave 'Mammal is othanth from Mod palm aid ds way rot guralkeed once Call earn may east Wirth could affect yeld. complete MamaIon wt be prodded upon re9-et • CertirCalaS of deposit (CIN) CDs afe RUC mad apt $293OCO at pampa and Saud sloe/
Less actew waded securities may be priced ushg a valuatn model or the mon recent site we obtart and may not reflect an actual matt rice or star — Celan positions may appear without a price ad will thaw as 'price was rot available' if se are unapt. to obtain a pnce f or a savoy - Deposits or starts
red Snares Cammitiotione with the Firm • 919.0ete.c.alforrn any oral 0:ennale.ater6 el mitng to furter prowl your unti ncladm yoke roles undo the Wirth flew Protedon Act (SPA) • el foe Mont inset/iron on the top act of the fon of this noncom IS not ICS FinnOal Smear& ulln Maria Sevrescanes ref ncu
nd stroaurod produce. Pool. Owner saureas (ncladng Air pm:Maim ewes, and real mute n*arnetrt than MOM) and rtructured pruaS tetra., h0hlr ilk4o d Celan mound prockm s ham not bon matured min the Seandek and 0 thaVeCaironssiso a on:Many State *QOM turd We Molt enmaed vibes la private rherom money
69.* hero in out name a n panne. new for cor dents Calleave Memoir, is Wanedtom third prim aides accuracy rot giaTalYed cater Call leases may east Wirth could alter mkt complete motet kin we be provided ups.. renunt • Curare/as of dep.:k(d:as) CDs ale PDC mired lot 129:1020 in verger rind gourd nt
oyale rroolmert war las (ex bin) (*red panicipati:n program and real estate investment IASI swishes) and structred proirts are weak, highly druid. Celan anstised racists have not been regetered with the Securitees and Exch Commissar, ce under ry slate secure:tn. We amide gamete(' values foe private
Wm upaity. A fat copy of thepoky wordi-g is available sun request. The Slit protecten ad the supplemental protection both do not apply to • Calm Wirth.' assets controlled by (and ecladed n your account value) but held away from UBS Financial Services (e.g., certain() cash at UPS Bat LEA OR cash a
umurod produce. Omar -mentors swum* Corning arra priergaion pagan aid rer estate nadmem titin Mantra) aid Structured product regrind., hghlr ilkOW Celan muctrol predicts ewe not born reword with the Snalmek and emihmat (Comoro a under any State SeCurdeS tatth We pram* edmred vatted fa private thes
hat isme tied in our nanetin renew nave for our chimes Cat leave Maine is caramelfrom thrd pawl aid as wary 6 rot gradated Whe call learn may most Wirth could ailed yell Campine informal:in cod bepeovided Leal rebuta • Caracoles olf deposit (CDs) CDs ale WK trued up so $293.000 si Oneida' awl squi
ts. Private known securities Snaring drui partkipaum program shear estate nominee trust securities) and stntchred products are general,/ honk MOM Celan struchad products have not been registered with the Secants and Exchange Cm-mission or axle, any state setureeraws We provide est mated vales for a
use the closing pro when available a the mean of the bd and a* prices for Wed securites and options or only bid pekes for OTC securities. - Less Wirth traded mantes may be priced using a valuation model or the most 44C044 price we oblaned and may not reflect an actual market price or vale - Cela
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