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NS OFFICE SERI/ICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 9 Bar This statement is provided to explain Bear, Stearns & Co. Inc.'s ("BSC) payment for order flow practices. BSC routes a majority of orders for customer securities transactions to the primary market for such secur
ting represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and
RNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 9 Bar This statement is provided to explain Bear, Stearns & Co. Inc.'s ("BSC) payment for order flow practices. BSC routes a majority of orders for customer securities transactions to the primary market for such secur
ating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present. the name of an independent, third-party research provider and
NS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 10 Bar This statement is provided to explain Bear, Stearns & Co. Inc.'s ("BSC") payment for order flow practices. BSC routes a majority of orders for customer securities transactions to the primary market for such secu
ting represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third-party research provider an
RNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 8 Bar This statement is provided to explain Bear, Stearns & Co. Inc.'s ("BSC) payment for order flow practices. BSC routes a majority of orders for customer securities transactions to the primary market for such secur
ating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present. the name of an independent, third-party research provider and
RNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 8 Bar This statement is provided to explain Bear, Stearns & Co. Inc.'s ("BSC") payment for order flow practices. BSC routes a majority of orders for customer securities transactions to the primary market for such secu
ting represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market underweight. In cases where the BSC rating is present, the name of an independent, third-party research provider an
RNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 9 Bar This statement is provided to explain Bear, Stearns & Co. Inc.'s ("BSC) payment for order flow practices. BSC routes a majority of orders for customer securities transactions to the primary market for such secur
ting represents the rating of the coverage universe relative to the regional broader market index, The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present, the name of an independent, third-party research provider and
NS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 10 Bar This statement is provided to explain Bear, Stearns & Co. Inc.'s ("BSC) payment for order flow practices. BSC routes a majority of orders for customer securities transactions to the primary market for such secur
ating represents the rating of the coverage universe relative to the regional broader market index. The key for the sector rating is as follows: MO = Market Overweight; MW = Market Weight; MU = Market Underweight. In cases where a BSC rating is present. the name of an independent, third-party research provider and
Entities connected to both Bear, Stearns & Co. Inc.'s and Market Overweight

Bear Stearns
ORGANIZATION
Jeffrey Epstein
PERSON
New York City
LOCATIONMASSER
PERSONPeer Perform
PERSON
North
LOCATIONMoney Fund
ORGANIZATIONEOUITY
ORGANIZATIONEquities & Options
ORGANIZATIONthe National Association of Securities Dealer's
ORGANIZATIONthe Bear, Stearns Securities Corp
ORGANIZATIONNet Capital and Net Capital Requirements
ORGANIZATION
Financial Trust Company
ORGANIZATIONSZeirns
PERSON
NEW YORK NY
LOCATIONTHRCOGH
ORGANIZATIONthe British Bankers Association
ORGANIZATIONMONET
PERSON
Bloomberg L.P.
ORGANIZATIONUnteeeti Preen
PERSON