Epstein Secrets

00 $434,785 97.391 EQUITIES Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firm's Equity Research Department. fi e first rating represents the stock's total return relative to the other stocks covered by that Analyst, The key for the stock rating values is

PNON CANHORN CHEMICAL CORP ACC! WRNS ESTEMTED CUKOR SYMBOJCUSIP TYPE OUANNTY PRCE VALIK ANOVA& INCOME YEW I%) CNCPF CASH 19 Unpriced FELCOR LODGING TRUST INC FCH CASH 2,000 14.6500 29.300 027 I/TUTUS:09:78 001 V86/ EFTA00200815 CLEARED THROUGH ITS niCkLY OW ,E0 SUBSIDIARY BEAR STEARNS OFFICE

LAST STATEMENT OCTOOM 31.2005 Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firm's Equity Research Department, The first rating represents the stock's total return relative to the other stocks covered by that Analyst. The key for the stock rating values is a

a copy of this research be sent to them. DESCRPTION MIKA/MIA ADC! TYPE OUATIRTY PRCE IMM(E! VALUE ESTMATE0 ANNUAL INCOME CURFEW YEW IR) FELCOR LODGING TRUST INC FCH CASH 2,000 17.2100 34,420 1,200 3.4883 GLENBOROUGH REALTY TRUST INC GUI CASH 2.000 18.1000 36.200 2,800 7.7348 BSC RATING: STOCK

0 5434.785 57.391 EQUITIES Equities & Options The research ratings for Bear Stearns (BSC) are Shown for certain securities covered by the Firm's Equity Research Department. The first rating represents the stock's total tarn relative to the other stocks covered by that Analyst. The key for the stock rating values is as

ACCT CSMATED MSS Xi DISCRIriThi SYYSCOMISIP rot MI ka WIC MS MO SELO W rig OlAVOITY P CANHORN CHEMICAL CORP CNCPF CASH 19 uniwiced FELCOR LODGING TRUST INC FCH CASH 2.000 14.6500 29.300 027 0101.05:0•11 001 ssis7 EFTA01324536 fLt8ZZOO- V.L.43 0 -n C in r _ Z8LSSECIO INS ANGS BEAR STEA