Epstein Secrets

1,115.84 INSTITUTIONAL SHARES DIVIDEND REINVEST 12/31/04 CLOSINGBALANCE 829,424.02 TOTAL $.1.115.84 51.115.84 Your messages 125' As part of the National Association of Securities Dealer's (NASD) Investor Education Program, you may obtain information on the NASD's Public Disclosure Program by contacting the NASD at telephone number (8

requirement of approximately $930,3 million and $967,8 million by approximately $2.4 billion and $2,2 billion, all respectively. A complete copy of the Bear, Stearns Securities Corp. Statement of Financial Condition is available on the web site www.bearstearns.com. Alternatively, to request a free printed copy please call • toll free 1.86

EINVEST DICXX 12/16/04 SOLD DREYFUS CASH MANAGEMENT-CL A DIOCt INSTITUTIONAL SHARES 12/31/04 CLOSINGBALANCE TOTAL Your messages As part of the National Association of Securities Dealer's (NASD) Investor Education Program, you may obtain information on the NASD's Public Disclosure Program by contacting the NASD at telephone number (8

requirement of approximately $930,3 million and $967,8 million by approximately $2.4 billion and $2,2 billion, all respectively. A complete copy of the Bear, Stearns Securities Corp. Statement of Financial Condition is available on the web site www.bearstearns.com. Alternatively, to request a free printed copy please call • toll free 1.86

2 SOW TYC -12.500.00 17.1509 211120.79 TOTAL 50.00 5424.579.63 TM ea. bras Ga -a r ew a wry oh> ward ins ilanare. Your messages As part of the National Association of Securities Dealer's (NASD) Investor Education Program. you may obtain information on the WASCis Public Disclosure Program by contacting the NASD at telephone number (

requirement of approximately 5679.9 million and 5644.8 minion by approximately 51.8 billion and 51.3 billion. all respectively. A complete copy of the Bear, Stearns Securities Corp. Statement of Financial Condition is avalable oil the web site wor bearsleams_com Alternatively, to request a free printed copy please cal -toll free 1-866-