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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
TED ANMJAL INCOME CURRENT YELD1144 GLENBOROUGH REALTY TRUST INC GLB CASH 2.000 21.2800 42.560 2.800 6.5789 BSC RATING: STOCK P/SECTOR MW SABRIENT SYSTEMS, L.L.C. RATING: S GLIMCHER REALTY TRUST-SS' GRT CASH 2,000 27.7100 55.420 3,846 6.9397 HRPT PROPERTIES TR-SBI HRP CASH 10.000 12.8300
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
NC FOR CASH 2,000 14.4800 28,960 GLENBOROUGH REALTY TRUST INC GLB CASH 2,000 20.5900 41.180 2.800 6.7994 BSC RATING: STOCK P/SECTOR MW SABRIENT SYSTEMS. L,L,C, RATING: H GLIMCHER REALTY TRUST-SBI GRT CASH 2,000 27.7500 55.500 3.846 6.9297 HRPT PROPERTIES TR-SBI HRP CASH 10,000 12.4300
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
ITTY POKE YAI.Ut ièrek PCOW TKIanN GLEN80ROUGH REALTY TRUST WC GIB CASH 2.000 21.8400 43,680 2.800 6.4103 BSC RATING: STOCK P/SECTCR MW SABRIENT SYSTEMS. L.LC. RATING: H GLSACHER REALTY TRUST-SW GRT CASH 2.000 26.9500 53.900 3.846 7.1354 HRPT PROPERTIES TR461 HRP CASH 10.000 12.0900 120
LAST STAmen 06-10000 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
ENT IMO rm HOSPITALITY PROPERTIES TRUST HPT CASH 2.000 43.9200 87.840 5,760 6.5574 $61 0 JOHNSON& JOHNSON BSC RATING: STOCK NSEETOR IAN SABRIENT SYSTEMS. L.L.C. JNJ CASH 57.600 67.1000 3.678.380 76.296 1.9672 RATING: H Y/TS LUCENT TECHNOLOGIES INC LUTHW CASH 235 0.7000 165 TZ E I UP 1
Entities connected to both Equity Research Department and SABRIENT SYSTEMS

Bear Stearns
ORGANIZATION
New York City
LOCATION
Jeffrey Epstein
PERSON
North
LOCATIONEOUITY
ORGANIZATION
Financial Trust Company
ORGANIZATIONPeer Perform
PERSONTHRCOGH
ORGANIZATIONSZeirns
PERSONNet Capital and Net Capital Requirements
ORGANIZATIONBear, Stearns & Co. Inc.'s
ORGANIZATIONMASSER
PERSONIHROUGH
ORGANIZATIONCAPCO
ORGANIZATIONEquities & Options
ORGANIZATIONPAN PACIFIC RETAIL
ORGANIZATIONthe National Association of Securities Dealer's
ORGANIZATIONthe Department of Revenue
ORGANIZATIONMoney Fund
ORGANIZATIONMarket Overweight
PERSON