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you intention to invest such amounts through us. You are advised to promptly report any inaccuracy or discrepancy in your accost to your broker and Bear, Stearns Securities Corp. (tSSC" at the telephone numbers listed on the front of this statement. In order to protect your rights, inducing any rights under the Securities In

ement of approximately 41.2 billion and 51.2 billion by approximately 52.8 billion and 52.8 billion, all respectively. A complete copy of the Bear. Steams Securities Corp. Statement of Financial Condition is available on the web site mvw.bearstearns.com. Alternatively, to request a free printed copy please call - toll free 1.86

notice is to advise you of certain changes in the manner in which interest will be charged on any U.S. dollar-denominated credit extended to you by Bear, Stearns Securities Corp. (13SSC1 for the purpose of purchasing, carrying or trading in any security. Interest will continue to be based on either the BSSC Margin Basis Rate

ement of approximately 51.2 billion and 51.2 billion by approximately 52.8 billion and 52.8 billion, all respectively. A complete copy of the Bear. Steams Securities Corp. Statement of Financial Condition is available on the web site wmv.bear lively, to request a free printed copy please call - ton free You are advised to pro

BUR STUARNS 017CE SERviMuG YOUR ACCOUNT Bear. Steams a Co. Inc. 383 Madman Avenue New Yak. New York 10179 (212) 272-2000 8 :is Your messages Bear, Stearns Securities Corp. Net Capital and Net Capital Requirements: At May 31. 2004 and July 31. 2004. the Cunpanys net capital of approximately 53.6 billion and 53.6 billio

nt of approximately 5930.3 million and 5967.8 minion by approximately 52.4 billion and 52.2 billion, all respectively. A complete copy of the Bear. Steams Securities Corp. Statement or Financial Condition is available on the web site www.bearsteams.com. Alternatively. to request a free printed copy please call - tel free 1-866-