Bear. Steams & Co. Inc. 245 Path Avenue NOW York. New York 10167 (212) 272-2000 Your Portfolio Holdings CASH & CASH EQUIVALENTS DESCRIP11CT/ ESTMATEO STIAKE/CUSIP tlYI1TIlY Kea WALK WO/ ECOvE CASH BALANCE 20,623 TOTAL CASH & CASH EQUIVALENTS 620.623 YOUR PRICED POFtIFOLIOHOLDINGS 320,623

e )E1.0 11.712 FIXED INCOME Government & Agency Obligations DESCRIPTION ACC' SYFECLOJSP TYPE OLuunly PRICE IAARKET VALLE ACCRUED MEREST ESTMATEO *NAVAL MOM CONTENT YIELD DM GOVERNMENT NATIONAL MTG ASSN MRGN 14,635.047 5.8146 850.969 13,794 551,741 64.8368 SERIES 2004-035 CLASS SP

UITIES Equities & Options ACC! DESCRPRON SWECCCAJSIP PPE OUANBTY BANK PLUS CORP CASH 10.000 Total Equities& Options PRCE 7.1200 TAARKET ESTMATEO CURRENT VALLE ANNUAL INCOIAE YEW I141 71,200 $71,200 $0 TOTAL EQUITIES $71.200 SO YOUR TOTAL ESTIMATED ANNUAL INCOME $721,043 YOUR PRICE