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04/280'03 JOURNAL MARK TO MARKET SHORT POS 13.250.00 05/05/03 JOURNAL MARK TO MARKET 2.749.00 027 053'03:15:30 001 EFTA00196707 CLEARED THRCOGH in ?NEWLY CI"E0 SUBSIDIARY BEAR STMRNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 6 Tra

UBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York. New York 10179 7 r, Your messages Ear Bear. Stearns Securities Corp. Net Capital and Net Capital Requirements: At May 31, 2003 and July 31. 2003, the Company's net capital of approximately $2

1 Y813 EFTA00198072 OFFICE SERVICING YOUR ACCOUNT Bear. Stearns & Co. Inc. BEAR 383 Madison Avenue New York. Nen York 10179 STEARNS CLEARED THRCOGH ITS YrtiC5LY OHY.E0 SUBSIDIARY Boor. Szewn& SO8,444 Corp. Cc* Metrotech Comm North Beccnon. Hew Toot 11201.3859 INSTITUTIONAL INTERESTS ACCOUNT

UBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York. New York 10179 6 r/ Your messages Ear Bear. Stearns Securities Corp. Net Capital and Net Capital Requirements: At May 31, 2003 and July 31. 2003, the Company's net capital of approximately $2

Statements EFTA00198892 CLEARED THRCOGH ITS WHOLLY OWNED SUEISIDIAAv BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York New York 10179 A

UBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New York. Nee York 10179 6 el Your messages Ear Bear. Stearns Securities Corp. Net Capital and Net Capital Requirements: At May 31, 2003 and July 31. 2003, the Company's net capital of approximately $2