EFTA01553301.pdf

11 2003 Confidential FINANCIAL TRUST COMPANY INC Page 1 of 59 J.P. Morgan Portfolios November 1 - November 30, 2003 Table of Contents Page Account Summary Asset Account Portfolio Margin Account Portfolio 0 JPMCB JPMSI 161121381 2 3 57 000000.0000.00.0000.000.000000000.000000 FINANCIAL TRUST COMPANY INC ATTN: JEFFREY E EPSTEIN C/O AMERICAN YACHT HARBOR 6100 RED HOOK, QUARTERS 8B3 ST THOMAS 00802 US VIRGIN ISLDS EFTA01553301 11 2003 Portfolio Summary FINANCIAL TRUST COMPANY INC November 01, 2003 - November 30, 2003 Page 2 of 59 Portfolio Summary Net Worth Summary Asset Portfolio USD Assets(Long) Cash fi Short Term Equities Other Options Liabilities (Short) Total Options FX Gain/Loss Accrued Income Total Net Worth Income Summary Taxable Interest Dividends Total 88,432,478.08 13,356,137.28 14,601,423.50 57,609,760.77 2,865,156.53 - 2,157,424.34 - 2,157,424.34 86,275,053.74 3,991,083.59 17,845.69 90,283,983.02 Margin Portfolio USD 161121381 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 .00 0.00 0.00 88,432,478.08 13,356,137.28 14,601,423.50 57,609,760.77 2,865,156.53 - 2,157,424.34 - 2,157,424.34 86,275,053.74 3,991,083.59 17,845.69 90,283,983.02 This Period 47,515.29 47,515.29 Year to Date 258,350.00 705,984.06 964,334.06 JPMorgan provides this Portfolio Summary for informational purposes. This summary includes informati on about assets held at JPMCB and JPMSI in accounts listed on the front page. Securities are not bank deposits or FDIC insured, are not obligations of or guaranteed by JPMCB or a ny of its bank of thrift affiliates (unless otherwise indicated), and are subject to investment risks, including possible loss of the pr incipal amount invested. Assets held in custody by JPMCB are not protected under the Securities Investor Protection Corporati on ("SIPC") insurance. Total USD EFTA01553302 EFTA01553303 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 3 of 59 Asset Account Portfolio November 1 - November 30, 2003 Table of Contents Portfolio Summary Cash and Short Term Equities Other Options Outstanding Foreign Exchange Contracts Trade Activity Account Transactions Account Officers Service Specialist: D'ORAZIO/HORNBEC Page 4 6 7 8 10 15 18 25 EFTA01553304 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 4 of 59 Overview Portfolio Summary Except for the Deposit Account (if elected), and the cash in your Asset Account, which are insured deposits with JPMCB, none of the investments referred to in this statement of your Asset Account, including mutual funds, are FDIC insured or bank deposits, obligations of or guaranteed by JPMCB or any of its bank or thrift affiliates (unless otherwise indicated). Such securities and other investments are subject to investment risks, including possible loss of the principal amount invested. See "Important Information about your JPMSI Brokerage Account" at the end of this Asset Account Portfolio. Asset Allocation 16% Cash and Short Term 17% Equities 67% Other Market Value USD Nov 30 Cash S Short Term Equities Other Options Total Foreign Exchange Accrued Income Total Portfolio Value 13,356,137.28 14,601,423.50 57,609,760.77 707,732.19 86,275,053.74 3,991,083.59 17,845.69 90,283,983.02 Income Summary Taxable Interest Dividends Total Net Gain/Loss Summary Net Short Term Gain/Loss Net Long Term Gain/Loss Total Market Value USD Oct 31 27,106,611.74 13,201,287.00 41,682,800.00 - 2,949,017.60 79,041,681.14 3,491,953.54 47,515.29 82,581,149.97 Tax Cost USD 13,356,137.28 56,920,746.73 - 109,100.00 70,167,784.01 Estimated Annual Income USD 124,212.07 Yield 0.9 0.0 0.0 124,212.07 N/A N/A 0.1 This Period USD 47,515.29 47,515.29 EFTA01553305 Year to Date USD* 258,350.00 705,984.06 964,334.06 Realized This Period USD Realized Year to Date USD* 4,355,591.20 4,355,591.20 7,197,491.19 7,197,491.19 *Year to date information is calculated on a calendar year basis. Exchange Rates Spot Rates as of November 30, 2003 Market value of Options is not included in pie chart. Currency AUD CHF Exchange Rate 0.7236 1.2928 Unrealized USD 1,788,349.89 - 282,503.63 1,505,846.26 EFTA01553306 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 5 of 59 Exchange Rates Spot Rates as of November 30, 2003 Currency EUR GBP HKD HUF MXN NOK NZD ZAR Exchange Rate 1.1987 1.7198 7.7663 219.3608 11.4103 6.8234 0.6390 6.3888 EFTA01553307 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 6 of 59 Cash and Short Term Summary by Maturity Current Market Value USD Cash Total 13,356,137.28 13,356,137.28 Estimated Annual Income USD 124,212.07 124,212.07 Current yield is displayed for instruments with no maturity and YTM on market is displayed for instr uments that mature. Cash and Short Term by Type Description Cusip/S&P/Moody's Rating Cash JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) 7-Day Annualized Yield: .93% USD 13,356,137.28 1.00 1.00 13,356,137.28 13,356,137.28 17,845.69 124,212.07 0.93 CurrenCy/ Unit Cost Adjusted Account Type Quantity Original Market Price Tax Cost Adjusted Original Market Value USD Accrued Interest USD Unrealized Gain/Loss USD Estimated Current Annual Yield/ Income USD YTM % Current EFTA01553308 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 7 of 59 Equities Equity Holdings in Alphabetical Order Description Cusip/Symbol CurrenCyi Account Type Quantity unit Cost Current Market Price Tax Cost Current Market Value USD USD Accrued Dividends USD Estimated Unrealized Gain/Loss USD Annual Dividend Income USD Yield TOO INC 890333-10-7 TOO 800,078 are liened USD Total Equity 800,078 800,078 18.25 14,601,423.50 14,601,423.50 N/A 0.00 N/A 0.0 EFTA01553309 11 Other Structured Investments in Alphabetical Order Description 2 MONTH FX EUR DEPOSIT - EUR 100% PRINCIPAL PROTECTED IN EUR DOLLARS JP MORGAN CHASE LONDON 12/15/2003 619998-9P-4 Bearer 3 MONTH AUD BULLISH FX DEPOSIT -AUD 100% PRINCIPAL PROTECTED IN AUD JP MORGAN CHASE LONDON 1/28/2004 619998-9R-0 Bearer 3 MONTH NZD BULLISH FX DEPOSIT - NZD 100% PRINCIPAL PROTECTED IN NZD JP MORGAN CHASE LONDON 1/28/2004 619998-9S-8 Bearer 3 MONTH GBP BULLISH FX DEPOSIT -GBP 100% PRINCIPAL PROTECTED IN GBP JPMORGAN CHASE LONDON 1/30/2004 619998-9T-6 Bearer AUD 10,000,000 100.00 100.1977 7,053,000.00 7,250,201.00 197,201.00 N/A Market Value USD Currency EUR Quantity 10,000,000 Unit Cost 100.00 PriCe/Unit 101.0299 Tax Cost 11,710,000.01 Accrued Income USD 12,110,278.60 Unrealized Estimated Annual Gain/Loss USD 400,278.59 Income USD Yield N/A JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 8 of 59 NZD 10,000,000 100.00 99.2383 6,136,000.00 6,341,313.00 205,313.00 N/A GBP 10,000,000 100.00 99.9336 16,980,000.02 17,186,980.00 206,979.98 N/A EFTA01553310 11 P JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 9 of 59 Structured Investments in Alphabetical Order Description 3 MONTH HUF BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN HUF JP MORGAN CHASE LONDON MATURITY 02/20/2004 630998-9A-2 3 MONTH MXN BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN MXN JPMORGAN CHASE LONDON 02/20/2004 630998-9Y-0 Bearer 3 MONTH GBP BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN GBP JPMORGAN CHASE LONDON 02/19/2004 630998-9Z-7 Bearer Total Other continued Market Value USD Currency Quantity HUF 1,083,000,000 Unit Cost 100.00 PriCe/Unit 96.6064 Tax Cost 4,942,346.70 Accrued Income USD Unrealized Estimated Annual Gain/Loss USD 4,770,485.04 - 171,861.66 Income USD Yield N/A MXN 56,250,000 100.00 98.2593 5,000,000.00 4,843,972.13 - 156,027.87 N/A GBP 3,000,000 100.00 98.973 5,099,400.00 5,106,531.00 7,131.00 N/A 1,182,250,000 56,920,746.73 57,609,760.77 689,014.04 EFTA01553311 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 10 of 59 Options Foreign Exchange Description Cusip HKD PUT USD CALL FX EUROPEAN STYLE OPTION SEP 23, 2004 @ 7.833 XHKDPA-AH-2 CHF CALL USD PUT FX EUROPEAN STYLE OPTION DEC 11, 2003 @ 1.2 XCHFCA-CQ-2 CHF CALL USD PUT FX EUROPEAN STYLE OPTION DEC 11, 2003 @ 1.2 XCHFCA-CR-2 CHF CALL USD PUT FX EUROPEAN STYLE OPTION MAR 15, 2004 @ 1.15 XCHFCA-CX-2 CHF CALL USD PUT FX EUROPEAN STYLE OPTION MAR 16, 2004 @ 1.175 XCHFCA-DC-2 NOK PUT USD CALL FX EUROPEAN STYLE OPTION MAR 03, 2004 @ 6.85 KNOCK IN FX OPTION TRIGGERED @ 7.00 KNOCK OUT @ 6.65 XNOKPA-EE-2 NOK - 34,250,000 USD - 5,000,000.00 USD - 100,045.00 - 100,045.00 - 86,835.40 13,209.60 CHF 58,750,000 USD 50,000,000.00 USD 420,690.00 420,690.00 163,213.38 - 257,476.62 CHF 80,500,000 USD 70,000,000.00 USD 543,848.00 543,848.00 124,983.50 - 418,864.50 CHF 12,000,000 USD 10,000,000.00 USD 106,200.00 106,200.00 197.04 - 106,002.96 CHF 12,000,000 USD 10,000,000.00 USD 107,300.00 107,300.00 197.04 - 107,102.96 Counter Amount Currency Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized EFTA01553312 Gain/Loss USD HKD 156,660,000 USD 20,000,000.00 USD 312,280.00 312,280.00 29,776.37 - 282,503.63 EFTA01553313 11 Cusip JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 11 of 59 Foreign Exchange Description EUR PUT USD CALL FX EUROPEAN STYLE OPTION MAR 31, 2004 @ 1.06 XEURPA-LC-2 AUD PUT USD CALL FX EUROPEAN STYLE OPTION FEB 25, 2004 @ .6475 KNOCK IN @ .6375 XAUDPA-CE-2 EUR PUT USD CALL FX EUROPEAN STYLE OPTION APR 07, 2004 @ 1.165 KNOCK IN TRIGGERED @ 1.15 XEURPA-LL-2 EUR CALL USD PUT FX EUROPEAN STYLE OPTION JUL 22, 2004 @ 1.25 XEURCA-TJ-2 EUR PUT USD CALL FX EUROPEAN STYLE OPTION JUL 22, 2004 @ 1.165 KNOCK IN TRIGGERED @ 1.16 KNOCK OUT @ 1.2093 XEURPA-LN-2 AUD PUT USD CALL FX EUROPEAN STYLE OPTION JUL 22, 2004 @ .7 KNOCK IN @ .688 KNOCK OUT @ .7293 XAUDPA-CH-2 AUD - 20,000,000 USD - 14,000,000.00 USD - 435,400.00 - 435,400.00 - 101,510.80 333,889.20 EUR - 40,000,000 USD - 46,600,000.00 USD - 759,580.00 - 759,580.00 - 301,199.60 458,380.40 EUR 40,000,000 USD 50,000,000.00 USD 750,000.00 750,000.00 882,253.20 132,253.20 EUR - 10,000,000 USD - 11,650,000.00 USD - 302,900.00 - 302,900.00 - 183,286.30 119,613.70 AUD - 30,000,000 USD - 19,425,000.00 USD - 543,900.00 - 543,900.00 - 16,086.00 527,814.00 Counter Amount Currency continued EUR - 10,000,000 USD - 10,600,000.00 USD - 222,600.00 - 222,600.00 - 9,624.40 212,975.60 Counter Premium Amount Currency Premium EFTA01553314 Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01553315 11 Cusip JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 12 of 59 Foreign Exchange Description AUD PUT USD CALL FX EUROPEAN STYLE OPTION APR 23, 2004 @ .695 KNOCK IN @ .685 XAUDPA-CJ-Z EUR CALL USD PUT FX EUROPEAN STYLE OPTION NOV 01, 2004 @ 1.25 KNOCK OUT @ 1.1375 KNOCK OUT @ 1.21 BARRIER EXP 12/1/03 XEURCA-TP-Z EUR CALL USD PUT FX EUROPEAN STYLE OPTION NOV 01, 2004 @ 1.3 KNOCK OUT @ 1.1375 KNOCK OUT @ 1.21 BARRIER EXP 12/1/03 XEURCA-TQ-Z AUD CALL USD PUT FX EUROPEAN STYLE OPTION DEC 01, 2003 @ .703 KNOCK IN TRIGGERED @ .72 XAUDCA-BQ-Z P NZD PUT USD CALL FX EUROPEAN STYLE OPTION DEC 01, 2003 @ .61 KNOCK IN @ .59 XNZDPA-CL-Z P EUR PUT USD CALL FX EUROPEAN STYLE OPTION DEC 01, 2003 @ 1.1375 XEURPA-LR-Z EUR O USD 0.00 USD 0.00 0.00 NZD O USD 0.00 USD 0.00 0.00 AUD - 28,449,502.13 USD - 20,000,000.00 USD - 170,000.00 - 170,000.00 - 605,006.54 - 435,006.54 EUR 50,000,000 USD 65,000,000.00 USD 282,235.00 282,235.00 595,276.00 313,041.00 EUR 50,000,000 USD 62,500,000.00 USD 491,862.00 491,862.00 1,069,260.00 577,398.00 Counter Amount Currency continued AUD - 10,000,000 USD - 6,950,000.00 USD - 251,590.00 - 251,590.00 - 109,131.30 142,458.70 Counter Premium EFTA01553316 Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01553317 11 Cusip JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 13 of 59 Foreign Exchange Description P ZAR PUT USD CALL FX EUROPEAN STYLE OPTION DEC 01, 2003 @ 7.05 XZARPA-AI-Z P EUR PUT USD CALL FX EUROPEAN STYLE OPTION DEC 01, 2003 @ 1.1375 EUR BINARY ONE-TOUCH XEURPA-LS-Z P EUR CALL USD PUT FX EUROPEAN STYLE OPTION DEC 01, 2003 @ 1.21 EUR BINARY ONE-TOUCH XEURCA-TU-Z HUF PUT USD CALL FX EUROPEAN STYLE OPTION MAY 19, 2004 @ 217 KNOCK IN TRIGGERED @ 225 KNOCK OUT @ 213 XHUFPA-AC-Z Total Foreign Exchange Exchange-listed options are valued using market prices at the close of business for statement date. Over-The-Counter (OTC) options are valued at Mid-Market, unless otherwise agreed. See: Important Information about Pricing and Valuations. - 109,100.00 707,732.19 816,832.22 HUF -3,255,000,000 USD - 15,000,000.00 USD - 337,500.00 - 337,500.00 - 744,744.00 - 407,244.00 EUR O USD 0.00 USD 0.00 0.00 EUR O USD 0.00 USD 0.00 0.00 Counter Amount Currency continued ZAR O USD 0.00 USD 0.00 0.00 Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01553318 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 14 of 59 Important Information about Pricing and Valuations Prices, some of which are provided by pricing services or other sources which we deem reliable, are not guaranteed for accuracy or as realizable values. Valuations of over-the-counter derivative transactions, including certain derivatives-related deposi t products, have been prepared on a mid-market basis. These valuations are indicative values as of t he close of business of the date of this statement and, except as otherwise agreed in writing, these valuations do not represent the actual terms at wh ich transactions or securities could be bought or sold or new transactions could be entered into, or the actual terms on which existing transactions or securities could be liquidated as of the date of this statement. We do not warrant their completenes s or accuracy. These valuations are derived from proprietary models based upon well recognized finan cial principles and we have, when necessary to calculate the present value of future cash flows, made reasonable estimates about relevant future ma rket conditions. Valuations based on other models or different assumptions may yield different resul ts. Morgan expressly disclaims any responsibility for (1) the accuracy of the models or estimates used in deriving the valuations, (2) any errors or o missions in computing or disseminating the valuations, and (3) any uses to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. Please refer to the trade confirmation for d etails of each transaction. EFTA01553319 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 15 of 59 Outstanding Foreign Exchange Contracts Net Currency Exposure Summary Australia Dollar Euro Currency Pound Sterling Hungarian Forint N Zealand Dollar U S Dollar Value in Currency 30,000,000.00 5,000,000.00 15,000,000.00 1,085,000,000.00 15,000,000.00 - 63,908,735.53 Gain/Loss Summary Total Unrealized Closed Value in USD Total Unrealized Open Total Unrealized Gain/Loss 2,208,712.47 1,782,371.12 3,991,083.59 Foreign Exchange Contracts Settlement Date Trade Date SPECULATIVE AUSTRALIA DOLLAR - U S DOLLAR Jun. 3 03 Dec. 5 03 AUD Oct. 22 03 Dec. 03 AUD Oct. 23 03 Dec. 03 AUD Oct. 24 03 Dec. 03 AUD Oct. 24 03 Dec. 03 AUD Nov. 4 03 Dec. 1 03 AUD Nov. 14 03 Dec. 5 03 AUD Nov. 24 03 Dec. 5 03 AUD Nov. 18 03 Jan. 0 04 AUD Nov. 24 03 Jan. 0 04 AUD 20,000,000.00 US 5,000,000.00 USD 5,000,000.00 USD - 12,000,000.00 USD - 18,000,000.00 USD 18,000,000.00 USD - 15,000,000.00 USD - 3,000,000.00 USD 10,000,000.00 USD - 10,000,000.00 USD - 13,040,000.00 - 3,510,000.00 - 3,500,500.00 8,365,200.00 12,551,400.00 - 12,486,600.00 10,761,000.00 2,154,300.00 - 7,204,000.00 7,146,000.00 0.652 0.702 0.7001 0.6971 0.6973 0.6937 0.7174 0.7181 0.7204 0.7146 0.723166 EFTA01553320 0.723166 0.723166 0.723166 0.723166 0.722319 0.722319 0.722319 0.719237 0.719237 14,463,316.62 3,615,829.15 3,615,829.15 8,365,200.00 12,551,400.00 13,001,750.83 10,761,000.00 2,154,300.00 7,192,369.81 7,146,000.00 13,040,000.00 3,510,000.00 3,500,500.00 8,677,989.97 13,016,984.95 12,486,600.00 10,834,792.36 2,166,958.47 7,204,000.00 7,192,369.81 1,423,316.62 105,829.15 115,329.15 - 312,789.97 - 465,584.95 515,150.83 - 73,792.36 - 12,658.47 - 11,630.19 - 46,369.81 Currency Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD EFTA01553321 11 Trade Date JPMorgan Chase Bank 2003 Account Number:m FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 16 of 59 Foreign Exchange Contracts Settlement Date Currency Oct. 23 03 Jan. 27 04 AUD Nov. 24 03 Jan. 27 04 AUD Total Closed SWISS FRANC Nov. 4 03 Dec. 15 03 CHF Nov. 18 03 Dec. 15 03 CHF Total Closed Nov. 18 03 Jan. 20 04 EUR continued Amount Counter Currency 10,000,000.00 USD - 10,000,000.00 USD 0.00 - U S DOLLAR 26,050,000.00 USD - 26,050,000.00 USD 0.00 EURO CURRENCY - U S DOLLAR POUND STERLING - U S DOLLAR Jul. 25 03 Dec. 15 03 GBP Nov. 4 03 Dec. 15 03 GBP Nov. 24 03 Dec. 15 03 GBP Nov. 18 03 Jan. 20 04 GBP Total Open 5,000,000.00 USD 10,000,000.00 USD 5,000,000.00 USD - 5,000,000.00 USD 5,000,000.00 USD 15,000,000.00 HUNGARIAN FORINT - U S DOLLAR Nov. 20 03 Dec. 1 03 HUF Nov. 21 03 Dec. 1 03 HUF Nov. 21 03 Dec. 1 03 HUF Total Open N ZEALAND DOLLAR - U S DOLLAR Nov. 18 03 Jan. 20 04 NZD Nov. 19 03 Jan. 20 04 NZD Nov. 24 03 Jan. 20 04 NZD Total Open 217,000,000.00 USD 651,000,000.00 USD 217,000,000.00 USD 1,085,000,000.00 10,000,000.00 USD 15,000,000.00 USD - 10,000,000.00 USD 15,000,000.00 - 19,208,081.40 19,976,993.87 768,912.47 - 5,963,500.00 - 16,102,000.00 - 8,366,000.00 8,466,500.00 - 8,475,000.00 - 24,476,500.00 - 999,079.19 - 2,997,651.61 - 999,217.20 - 4,995,948.00 - 6,336,000.00 - 9,460,500.00 EFTA01553322 6,336,000.00 - 9,460,500.00 1.3562 1.304 1.292213 1.292213 20,159,223.00 19,976,993.87 40,136,216.87 1.1927 1.6102 1.6732 1.6933 1.695 0.83548 1.717914 1.717914 1.717914 1.713113 5,984,577.45 17,179,141.65 8,589,570.82 8,466,500.00 8,565,564.94 42,800,777.41 217.20 217.17 217.17 219.433467 219.433467 219.433467 988,910.23 2,966,730.69 988,910.23 4,944,551.15 0.6336 0.6307 0.6336 0.635062 0.635062 0.635062 6,350,620.64 9,525,930.96 6,336,000.00 22,212,551.60 19,208,081.40 20,159,223.00 39,367,304.40 5,963,500.00 16,102,000.00 8,366,000.00 8,589,570.82 8,475,000.00 41,532,570.82 999,079.19 2,997,651.61 999,217.20 4,995,948.00 6,336,000.00 9,460,500.00 6,350,620.64 22,147,120.64 951,141.60 - 182,229.13 768,912.47 21,077.45 1,077,141.65 223,570.82 - 123,070.82 90,564.94 1,268,206.59 - 10,168.96 - 30,920.92 - 10,306.97 - 51,396.85 14,620.64 65,430.96 - 14,620.64 65,430.96 EFTA01553323 Counter Amount - 6,936,000.00 7,139,000.00 1,439,800.00 Contract Rate 0.6936 0.7139 Current Market Forward Rate 0.718633 0.718633 Market Value Receivables USD 7,186,326.48 7,139,000.00 97,192,322.04 Market Value Payables USD 6,936,000.00 7,186,326.48 95,752,522.04 Unrealized Gain/Loss USD 250,326.48 - 47,326.48 1,439,800.00 EFTA01553324 11 Trade Date JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 17 of 59 Foreign Exchange Contracts Settlement Date Currency TRADE RELATED AUSTRALIA DOLLAR - U S DOLLAR Nov. 5 03 Dec. 3 03 AUD Nov. 5 03 Dec. 3 03 AUD Nov. 6 03 Dec. 3 03 AUD Total Open Total Foreign Exchange Contracts 10,000,000.00 USD 10,000,000.00 USD 10,000,000.00 USD 30,000,000.00 - 7,090,000.00 - 7,078,000.00 - 7,053,000.00 - 21,221,000.00 0.709 0.7078 0.7053 0.723335 0.723335 0.723335 7,233,350.99 7,233,350.99 7,233,350.99 21,700,052.97 234,971,049.49 7,090,000.00 7,078,000.00 7,053,000.00 21,221,000.00 230,979,965.90 143,350.99 155,350.99 180,350.99 479,052.97 3,991,083.59 continued Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD EFTA01553325 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 18 of 59 Trade Activity Realized Gain/Loss Summary Short Term Gain/Loss Long Term Gain/Loss Foreign Exchange Gains/Losses Note: indicates Short Term Realized Gain/Loss indicates Long Term Realized Gain/Loss S L Capital gains and losses on sales with missing or incomplete tax cost are identified with N/A. Trade Date Settlement Date Settled Nov 4 Nov 6 Write Option AUD CALL USD PUT Nov 4 Nov 6 Purchase Opt Nov 4 Nov 6 Write Option FX EUROPEAN STYLE OPTION DEC 01, 2003 @ .703 KNOCK IN @ .72 EUR PUT USD CALL FX EUROPEAN STYLE OPTION DEC 01, 2003 @ 1.1375 NZD PUT USD CALL Nov 7 Nov 12 Purchase Opt FX EUROPEAN STYLE OPTION DEC 01, 2003 @ .61 KNOCK IN @ .59 EUR PUT USD CALL FX EUROPEAN STYLE OPTION DEC 01, 2003 @ 1.1375 EUR BINARY ONE-TOUCH USD - 28,449,502.13 0.85 170,000.00 Realized Type Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD Amount USD 4,540,961.95 0.00 - 330,100.00 USD 356,043.95 74.07 USD - 32,786,885.24 0.71 - 300,000.00 142,000.00 USD 65,934.07 62.00 - 46,500.00 EFTA01553326 11 Trade Date JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 19 of 59 Settlement Date Realized Type Settled continued Nov 7 Nov 12 Buy-Back Opt ZAR CALL USD PUT Nov 7 Nov 12 Write Option Nov 14 Nov 14 Expired Opt FX EUROPEAN STYLE OPTION NOV 24, 2003 @ 7.1 ZAR PUT USD CALL FX EUROPEAN STYLE OPTION DEC 01, 2003 @ 7.05 NZD PUT USD CALL FX EUROPEAN STYLE OPTION JUL 22, 2004 @ .6 KNOCK IN @ .59 KNOCK OUT @ .625 Issued in USD Nov 17 Nov 19 Buy-Back Opt NZD PUT USD CALL Nov 18 Nov 18 Expired Opt FX EUROPEAN STYLE OPTION JAN 05, 2004 @ .59 HUF PUT USD CALL FX EUROPEAN STYLE OPTION JUL 30, 2004 @ 220. KNOCK IN @ 230 KNOCK OUT @ 216 Issued in USD Nov 18 Nov 20 Buy-Back Opt NOK PUT USD CALL Nov 18 Nov 18 Expired Opt FX EUROPEAN STYLE OPTION MAR 03, 2004 @ 7.65 KNOCK IN @ 7.80 NOK PUT USD CALL FX EUROPEAN STYLE OPTION JUN 29, 2004 @ 7.15 KNOCK IN TRIGGERED @ 7.20 KNOCK OUT @ 6.88 Issued in USD USD 38,250,000 - 15,000.00 175,500.00 160,500.00 S USD HUF 5,000,000 2,200,000,000 - 6,785.00 0.00 73,750.00 255,000.00 66,965.00 S 255,000.00 S USD USD NZD 25,560,000 - 42,300,000 20,000,000 1.64 - 64,440.00 98,400.00 0.00 336,000.00 336,000.00 S 43,200.00 EFTA01553327 - 21,240.00 S Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD NOK 35,750,000 0.00 80,000.00 80,000.00 S EFTA01553328 11 Trade Date JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 20 of 59 Settlement Date Realized Type Settled continued Nov 18 Nov 20 Buy-Back Opt NZD PUT USD CALL Nov 19 Nov 21 Purchase Opt FX EUROPEAN STYLE OPTION FEB 25, 2004 @ .5625 KNOCK IN @ .54 EUR CALL USD PUT FX EUROPEAN STYLE OPTION DEC 01, 2003 @ 1.21 EUR BINARY ONE-TOUCH Nov 19 Nov 19 Expired Opt HUF PUT USD CALL FX EUROPEAN STYLE OPTION AUG 02, 2004 @ 222 KNOCK IN @ 230 KNOCK OUT @ 217 Issued in USD Nov 19 Nov 21 Write Option HUF PUT USD CALL FX EUROPEAN STYLE OPTION MAY 19, 2004 8 217 KNOCK IN @ 225 KNOCK OUT @ 213 Nov 19 Nov 21 Purchase Nov 19 Nov 21 Purchase 3 MONTH MXN BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN MXN JPMORGAN CHASE LONDON 02/20/2004 3 MONTH GBP BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN GBP JPMORGAN CHASE LONDON 02/19/2004 Nov 24 Nov 26 Buy-Back Opt NZD PUT USD CALL Nov 24 Nov 26 Assign FX Opt FX EUROPEAN STYLE OPTION FEB 25, 2004 @ .58 KNOCK IN @ .57 ZAR CALL USD PUT FX EUROPEAN STYLE OPTION NOV 24, 2003 @ 7.1 MXN GBP USD 56,250,000 3,000,000 34,482,758.62 100.00 - 56,250,000.00 100.00 - 3,000,000.00 - 40,000.00 670,000.00 630,000.00 S USD -3,255,000,000 2.25 337,500.00 HUF 2,220,000,000 0.00 308,000.00 308,000.00 S USD 17,777,777.77 - 15,000.00 303,000.00 288,000.00 S EFTA01553329 Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD 330,578.51 56.00 - 224,000.00 USD 21,300,000 0.00 36,000.00 36,000.00 S EFTA01553330 11 Trade Date JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 21 of 59 Settlement Date Realized Type Settled continued Nov 24 Nov 26 FX Opt Asgn'D Nov 28 Nov 28 Expired Opt SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION SELL ZAR BUY USD GBP PUT USD CALL FX EUROPEAN STYLE OPTION JUL 22, 2004 @ 1.69 KNOCK IN TRIGGERED @ 1.6775 KNOCK OUT @ 1.7183 Issued in USD Nov 28 Nov 28 Expired Opt GBP PUT USD CALL FX EUROPEAN STYLE OPTION JUL 22, 2004 @ 1.69 KNOCK IN TRIGGERED @ 1.6775 KNOCK OUT @ 1.7183 Issued in USD Trade Date Estimated Settlement Date Pending Dec 1 Expired Opt EUR CALL USD PUT FX EUROPEAN STYLE OPTION DEC 01, 2003 @ 1.21 EUR BINARY ONE-TOUCH Dec 1 Expired Opt Dec 1 Expired Opt EUR PUT USD CALL FX EUROPEAN STYLE OPTION DEC 01, 2003 @ 1.1375 EUR PUT USD CALL FX EUROPEAN STYLE OPTION DEC 01, 2003 @ 1.1375 EUR BINARY ONE-TOUCH USD - 65,934.07 0.00 0.00 - 46,500.00 USD - 356,043.95 0.00 0.00 - 300,000.00 USD - 330,578.51 0.00 0.00 - 224,000.00 Realized Gain/Loss Type Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost USD GBP 5,500,000 EFTA01553331 0.00 151,509.00 151,509.00 S USD GBP - 21,300,000 4,500,000 7.10 3,000,000.00 0.00 - 3,255,685.05 123,962.00 - 255,885.05 S 123,962.00 S Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD EFTA01553332 11 Trade Date JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 22 of 59 Estimated Settlement Date Realized Gain/Loss Type Pending continued Dec 1 Expired Opt NZD PUT USD CALL FX EUROPEAN STYLE OPTION DEC 01, 2003 @ .61 KNOCK IN @ .59 Dec 1 Expired Opt Nov 20 Nov 24 Purchase ZAR PUT USD CALL FX EUROPEAN STYLE OPTION DEC 01, 2003 @ 7.05 3 MONTH HUF BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN HUF JP MORGAN CHASE LONDON MATURITY 02/20/2004 Trade Date Settlement Date Counter Currency Settled Foreign Exchange Contracts SPECULATIVE SWISS FRANC May 8 03 Nov 5 03 Oct 20 03 Nov 5 03 Oct 22 03 Nov 5 03 Nov 4 03 Nov 5 03 Nov 12 03 Nov 12 03 Nov 17 03 Nov 17 03 Nov 17 03 - U S DOLLAR CHF 26,050,000.00 USD - 20,000,000.00 CHF CHF - 3,276,000.00 USD EURO CURRENCY - U S DOLLAR Nov 7 03 Nov 7 03 Nov 6 03 Nov 6 03 Nov 7 03 3,276,000.00 USD - 2,468,912.50 2,476,752.10 CHF - 26,050,000.00 USD 19,186,860.13 EUR - 10,000,000.00 USD 11,380,000.00 EUR 10,000,000.00 USD - 11,480,000.00 EUR - 10,000,000.00 USD 11,405,000.00 EUR - 5,000,000.00 USD EUR 15,000,000.00 USD - 17,064,000.00 1.302500 1.326900 1.322700 1.357700 5,706,000.00 1.138000 1.148000 1.140500 1.141200 1.137600 1.364300 EFTA01553333 1.364300 1.364300 1.364300 1.148000 1.148000 1.178759 1.178759 1.178759 - 20,000,000.00 - 2,468,912.50 2,476,752.10 19,094,040.90 2,401,231.40 - 2,401,231.40 19,186,860.13 - 19,094,040.90 11,380,000.00 - 11,480,000.00 - 11,480,000.00 11,405,000.00 - 11,787,587.67 5,706,000.00 - 17,064,000.00 - 905,959.10 - 67,681.10 75,520.70 92,819.23 - 100,000.00 11,480,000.00 - 5,893,793.83 17,681,381.50 - 382,587.67 - 187,793.83 617,381.50 Amount Currency Counter Amount HUF 1,083,000,000 100.00 0.00 USD 42,300,000 0.00 0.00 98,400.00 USD 32,786,885.24 0.00 0.00 142,000.00 Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost USD Contract Rate Revaluation Rate Base Amount USD Amount USD Gain/Loss USD Contracted/ Revalued Realized EFTA01553334 11 Date Oct 9 03 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 23 of 59 Settled Foreign Exchange Contracts Trade Settlement Date Currency Nov 20 03 Nov 14 03 Nov 20 03 Sep 4 03 Nov 20 03 Nov 20 03 EUR Counter Amount Currency continued EUR - 5,000,000.00 USD POUND STERLING - U S DOLLAR Jul 25 03 Oct 24 03 Nov 20 03 5,000,000.00 USD - 5,842,597.23 5,867,076.69 GBP 10,000,000.00 USD - 16,088,499.46 GBP - 5,000,000.00 USD GBP - 5,000,000.00 USD HUNGARIAN FORINT - U S DOLLAR Nov 19 03 Nov 21 03 Nov 20 03 Nov 21 03 Nov 20 03 Nov 24 03 Nov 21 03 Nov 24 03 Nov 21 03 Nov 25 03 Nov 21 03 Nov 25 03 Nov 21 03 Nov 25 03 Nov 21 03 Nov 25 03 NORWEGIAN KRONE - U S DOLLAR Dec 11 02 Nov 20 03 Dec 11 02 Nov 20 03 Dec 12 02 Nov 20 03 Dec 12 02 Nov 20 03 Dec 13 02 Nov 20 03 Dec 13 02 Nov 20 03 Dec 13 02 Nov 20 03 Jan 15 03 Nov 20 03 1.168520 1.173415 7,804,450.95 8,450,408.90 HUF 217,000,000.00 USD - 1,000,000.00 HUF - 217,000,000.00 USD HUF 217,000,000.00 USD - 1,000,000.00 HUF - 217,000,000.00 USD HUF 217,000,000.00 USD - 1,000,000.00 HUF - 217,000,000.00 USD HUF 651,000,000.00 USD - 3,000,000.00 HUF - 651,000,000.00 USD NOK 38,025,000.00 USD - 4,995,807.81 NOK 73,135,000.00 USD - 9,608,636.52 NOK 37,560,000.00 USD - 4,995,807.81 NOK 37,465,000.00 USD - 4,995,807.81 NOK 74,370,000.00 USD - 9,954,138.69 NOK 37,275,000.00 USD - 4,995,807.81 NOK 36,350,000.00 USD - 4,881,328.24 NOK - 71,800,000.00 USD 1.608850 1.560890 1.690082 1,000,000.00 1,000,000.00 1,000,000.00 3,000,000.00 EFTA01553335 217.000000 217.000000 217.000000 217.000000 217.000000 217.000000 217.000000 217.000000 9,991,615.61 7.611382 7.611382 7.518304 7.499288 7.471264 7.461256 7.446744 7.186025 1.191682 1.191682 1.703723 1.703723 1.703723 217.000000 217.000000 217.000000 216.666667 217.000000 216.814840 217.000000 216.814840 6.858500 6.858500 6.858500 6.858500 6.858500 6.858500 6.858500 6.858500 - 5,842,597.23 5,867,076.69 - 16,088,499.46 7,804,450.95 8,450,408.90 - 1,000,000.00 1,000,000.00 - 1,000,000.00 1,000,000.00 - 1,000,000.00 1,000,000.00 - 3,000,000.00 3,000,000.00 - 4,995,807.81 - 9,608,636.52 - 4,995,807.81 - 4,995,807.81 - 9,954,138.69 - 4,995,807.81 - 4,881,328.24 5,958,410.29 - 5,958,410.29 17,037,226.33 - 8,518,613.16 - 8,518,613.16 1,000,000.00 - 1,000,000.00 1,000,000.00 - 1,001,538.46 1,000,000.00 - 1,000,854.00 3,000,000.00 - 3,002,562.00 5,544,215.20 10,663,410.36 5,476,416.12 5,462,564.70 10,843,478.89 5,434,861.85 5,299,992.70 9,991,615.61 - 10,468,761.39 EFTA01553336 115,813.06 - 91,333.60 948,726.87 - 714,162.21 - 68,204.26 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD - 1,538.46 - 854.00 - 2,562.00 548,407.39 1,054,773.84 480,608.31 466,756.89 889,340.20 439,054.04 418,664.46 - 477,145.78 EFTA01553337 11 Date JPMorgan Chase Bank 2003 Account Number:m FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 24 of 59 Settled Foreign Exchange Contracts Trade Settlement Date Currency Apr 24 03 Nov 20 03 May 21 03 Nov 20 03 Sep 23 03 Nov 20 03 Sep 23 03 Nov 20 03 Nov 17 03 Nov 20 03 Aug 7 03 Nov 20 03 Nov 20 03 Counter Amount Currency continued NOK - 72,625,000.00 USD NOK - 68,490,000.00 USD NOK - 10,754,280.00 USD NOK - 35,412,500.00 USD N ZEALAND DOLLAR - U S DOLLAR Jul 1 03 Oct 17 03 Nov 20 03 Oct 24 03 Nov 20 03 Oct 27 03 Nov 20 03 Nov 14 03 Nov 20 03 Nov 17 03 Nov 20 03 TRADE RELATED POUND STERLING - U S DOLLAR HUNGARIAN FORINT - U S DOLLAR Nov 19 03 Nov 21 03 Nov 20 03 Nov 24 03 Nov 21 03 Nov 24 03 GBP 3,000,000.00 USD - 5,099,400.00 HUF 866,000,000.00 USD - 4,000,000.00 HUF 217,000,000.00 USD - 1,000,000.00 MEXICAN NEW PESO - U S DOLLAR Nov 19 03 Nov 21 03 MXN 56,250,000.00 USD - 5,000,000.00 1.699800 216.500000 217.000000 11.250000 1.699800 216.500000 217.000000 11.250000 - 5,099,400.00 - 4,000,000.00 - 1,000,000.00 - 5,000,000.00 5,099,400.00 4,000,000.00 1,000,000.00 5,000,000.00 9,991,615.61 9,991,615.61 1,510,014.50 4,995,807.81 NOK - 75,098,220.00 USD 10,759,285.16 NZD 30,000,000.00 USD - 17,535,285.40 NZD - 10,000,000.00 USD NZD - 10,000,000.00 USD NZD - 10,000,000.00 USD 7.268594 6.854747 7.121971 7.088443 EFTA01553338 6.979852 5,746,178.14 5,917,034.76 6,054,919.06 NZD 10,000,000.00 USD - 6,041,929.96 NZD - 20,000,000.00 USD 12,531,484.30 NZD 10,000,000.00 USD - 6,285,725.38 S AFRICAN RAND - U S DOLLAR Nov 25 03 Nov 26 03 ZAR 21,300,000.00 USD - 3,255,885.05 0.584510 0.574618 0.591704 0.605492 0.604193 0.626574 0.628573 6.542000 6.858500 6.858500 6.858500 6.858500 6.858500 1.555100 1.555100 1.555100 1.555100 1.555100 1.555100 0.628573 6.542000 9,991,615.61 - 10,589,050.08 9,991,615.61 1,510,014.50 4,995,807.81 10,759,285.16 - 10,949,656.62 - 17,535,285.40 5,746,178.14 5,917,034.76 6,054,919.06 - 6,041,929.96 19,291,363.89 - 6,430,454.63 - 6,430,454.63 - 6,430,454.63 6,430,454.63 12,531,484.30 - 12,860,909.26 - 6,285,725.38 - 3,255,885.05 6,285,725.38 3,255,885.05 - 9,986,148.57 - 1,568,022.16 - 5,163,301.01 - 597,434.47 5,467.04 - 58,007.66 - 167,493.20 - 190,371.46 1,756,078.49 - 684,276.49 - 513,419.87 - 375,535.57 388,524.67 - 329,424.96 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD EFTA01553339 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 25 of 59 Account Transactions by Currency Euro Currency Activity Summary Amount this Period Beginning Balance Credits Sales, Maturities, Redemptions Foreign Exchange Debits Purchases of Securities Miscellaneous Disbursements Foreign Exchange Ending Balance Euro Currency Activity by Date Settlement Date Type Nov 12 Spot FX Quantity Description 11,380,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL EUR SPOT RATE : 1.138000000 TRADE 11/07/03 VALUE 11/12/03 U S DOLLAR EURO PRINCIPAL CURRENCY Nov 12 Spot FX - 11,480,000 SPOT CURRENCY TRANSACTION - BUY BUY EUR SELL USD SPOT RATE : 1.148000000 TRADE 11/07/03 VALUE 11/12/03 EURO PRINCIPAL CURRENCY U S DOLLAR 10,000,000.00 11,480,000.00 - 30,000,000.00 -00 - 20,000,000.00 - .53 - 569,569,309.74 9,974,741.74 30,000,000.00 579,594,568.53 .00 Amount to Date Realized Amount Gain/Loss USD - 10,000,000.00 - 11,380,000.00 Amount USD EFTA01553340 11 Date JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 26 of 59 Euro Currency Activity by Date Settlement continued Realized Type Nov 17 Fwd FX Ctrct Quantity Description 11,405,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL EUR CONTRACT RATE : 1.140500000 TRADE 11/06/03 VALUE 11/17/03 Nov 17 Fwd FX Ctrct 5,706,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL EUR CONTRACT RATE : 1.141200000 TRADE 11/06/03 VALUE 11/17/03 Nov 17 Fwd FX Ctrct - 17,064,000 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL USD CONTRACT RATE : 1.137600000 TRADE 11/07/03 VALUE 11/17/03 Nov 20 Fwd FX Ctrct 5,867,076.69 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL EUR CONTRACT RATE : 1.173415300 TRADE 11/14/03 VALUE 11/20/03 Nov 20 Fwd FX Ctrct - 5,842,597.23 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL USD CONTRACT RATE : 1.168519500 TRADE 10/09/03 VALUE 11/20/03 Gain/Loss USD - 10,000,000.00 - 11,787,587.67 Amount Amount USD - 5,000,000.00 - 5,893,793.83 15,000,000.00 17,681,381.50 - 5,000,000.00 - 5,958,410.29 5,000,000.00 5,958,410.29 EFTA01553341 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 27 of 59 Account Transactions by Currency Hungarian Forint Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Purchases of Securities Foreign Exchange Ending Balance Hungarian Forint Activity by Date Settlement Date Type Nov 21 Spot FX Quantity Description - 1,000,000 SPOT CURRENCY TRANSACTION - BUY BUY HUF SELL USD SPOT RATE : 217.000000000 TRADE 11/19/03 VALUE 11/21/03 HUNGARIAN FORINT U S DOLLAR Nov 21 Spot FX 1,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL HUF SPOT RATE : 217.000000000 TRADE 11/20/03 VALUE 11/21/03 U S DOLLAR HUNGARIAN FORINT .00 2,385,000,000.00 - 1,083,000,000.0 - 1,302,000,000.0 .00 2,385,000,000.00 - 1,083,000,000.0 - 1,302,000,000.0 Amount to Date Realized Amount Gain/Loss USD 217,000,000.00 1,000,000.00 Amount USD - 217,000,000.00 - 1,000,000.00 EFTA01553342 11 Date JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 28 of 59 Hungarian Forint Activity by Date Settlement continued Realized Type Nov 24 Spot FX Quantity Description - 4,000,000 SPOT CURRENCY TRANSACTION - BUY BUY HUF SELL USD SPOT RATE : 216.500000000 TRADE 11/20/03 VALUE 11/24/03 HUNGARIAN FORINT U 5 DOLLAR Nov 24 spot FX - 1,000,000 SPOT CURRENCY TRANSACTION - BUY BUY HUF SELL USD SPOT RATE : 217.000000000 TRADE 11/20/03 VALUE 11/24/03 HUNGARIAN FORINT U 5 DOLLAR Nov 24 Spot FX - 1,000,000 SPOT CURRENCY TRANSACTION - BUY BUY HUF SELL USD SPOT RATE : 217.000000000 TRADE 11/21/03 VALUE 11/24/03 HUNGARIAN FORINT U 5 DOLLAR Nov 24 Spot FX 1,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL HUF SPOT RATE : 217.000000000 TRADE 11/21/03 VALUE 11/24/03 U 5 DOLLAR Nov 24 Sale Nov 25 Spot FX - 1,000,000 HUNGARIAN FORINT HUNGARIAN FORINT SPOT CURRENCY TRANSACTION - BUY BUY HUF SELL USD SPOT RATE : 217.000000000 TRADE 11/21/03 VALUE 11/25/03 HUNGARIAN FORINT U 5 DOLLAR Gain/Loss USD 866,000,000.00 4,000,000.00 Amount Amount USD 217,000,000.00 1,000,000.00 217,000,000.00 1,000,000.00 - 217,000,000.00 - 1,000,000.00 - 1,083,000,000.00 - 4,942,346.70 217,000,000.00 1,000,000.00 EFTA01553343 11 Date JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 29 of 59 Hungarian Forint Activity by Date Settlement continued Realized Type Nov 25 Spot FX Quantity Description 1,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL HUF SPOT RATE : 217.000000000 TRADE 11/21/03 VALUE 11/25/03 U S DOLLAR HUNGARIAN FORINT Nov 25 Spot FX - 3,000,000 SPOT CURRENCY TRANSACTION - BUY BUY HUF SELL USD SPOT RATE : 217.000000000 TRADE 11/21/03 VALUE 11/25/03 HUNGARIAN FORINT U S DOLLAR Nov 25 Spot FX 3,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL HUF SPOT RATE : 217.000000000 TRADE 11/21/03 VALUE 11/25/03 U S DOLLAR HUNGARIAN FORINT 651,000,000.00 3,000,000.00 Gain/Loss USD - 217,000,000.00 - 1,000,000.00 Amount Amount USD - 651,000,000.00 - 3,000,000.00 EFTA01553344 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 30 of 59 Account Transactions by Currency Mexican New Peso Activity Summary Amount this Period Beginning Balance Credits Sales, Maturities, Redemptions Foreign Exchange Debits Purchases of Securities Foreign Exchange Ending Balance Mexican New Peso Activity by Date Settlement Date Type Nov 21 Spot FX Quantity Description - 5,000,000 SPOT CURRENCY TRANSACTION - BUY BUY MXN SELL USD SPOT RATE : 11.250000000 TRADE 11/19/03 VALUE 11/21/03 MEXICAN NEW PESO U S DOLLAR Nov 21 Purchase 56,250,000 3 MONTH MXN BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN MXN JPMORGAN CHASE LONDON 02/20/2004 - 56,250,000.00 .00 - 163,500,000.00 - 526,425,000.00 56,250,000.00 107,250,000.00 582,675,000.00 .00 Amount to Date Realized Amount Gain/loas USD 56,250,000.00 5,000,000.00 Amount USD - 56,250,000.00 - 5,000,000.00 EFTA01553345 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 31 of 59 Account Transactions by Currency N Zealand Dollar Activity Summary Amount this Period Beginning Balance Credits Sales, Maturities, Redemptions Miscellaneous Receipts Foreign Exchange Debits Purchases of Securities Foreign Exchange Ending Balance Foreign Exchange Gains/Losses N Zealand Dollar Activity by Date Settlement Date Type Nov 20 Fwd FX Ctrct Quantity Description - 17,535,285.40 SETTLE FORWARD CURRENCY CONTRACT BUY NZD SELL USD CONTRACT RATE : 0.584509500 TRADE 7/01/03 VALUE 11/20/03 Nov 20 Fwd FX Ctrct 5,746,178.14 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NZD CONTRACT RATE : 0.574617800 TRADE 8/07/03 VALUE 11/20/03 28,945.85 - 50,000,000.00 .00 144,729.25 - 44,000,000.00 - 328,989,953.94 33,985,562.27 4,391.67 50,000,000.00 339,000,000.00 .00 Amount to Date Realized Amount Gain/Loss USD 30,000,000.00 19,291,363.89 Amount USD - 10,000,000.00 - 6,430,454.63 EFTA01553346 11 Date JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 32 of 59 N Zealand Dollar Activity by Date Settlement continued Realized Type Nov 20 Fwd FX Ctrct Quantity Description 12,531,484.30 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NZD CONTRACT RATE : 0.626574200 TRADE 11/14/03 VALUE 11/20/03 Nov 20 Fwd FX Ctrct 5,917,034.76 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NZD CONTRACT RATE : 0.591703500 TRADE 10/17/03 VALUE 11/20/03 Nov 20 Fwd FX Ctrct 6,054,919.06 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NZD CONTRACT RATE : 0.605491900 TRADE 10/24/03 VALUE 11/20/03 Nov 20 Fwd FX Ctrct - 6,041,929.96 SETTLE FORWARD CURRENCY CONTRACT BUY NZD SELL USD CONTRACT RATE : 0.604193000 TRADE 10/27/03 VALUE 11/20/03 Nov 20 Spot FX - 6,285,725.36 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.628572500 TRADE 11/17/03 VALUE 11/20/03 N ZEALAND DOLLAR U S DOLLAR Gain/Loss USD 57,691.70 - 20,000,000.00 - 12,860,909.26 Amount Amount USD 28,945.85 - 10,000,000.00 - 6,430,454.63 28,945.85 - 10,000,000.00 - 6,430,454.63 10,000,000.00 6,430,454.63 10,000,000.00 6,285,725.38 EFTA01553347 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 33 of 59 Account Transactions by Currency Norwegian Krone Activity Summary Amount this Period Beginning Balance Credits Taxable Interest Sales, Maturities, Redemptions Miscellaneous Receipts Foreign Exchange Debits Foreign Exchange Ending Balance Foreign Exchange Gains/Losses Norwegian Krone Activity by Date Settlement Date Type Nov 20 Fwd FX Ctrct Quantity Description 9,991,615.61 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NOK CONTRACT RATE : 6.854747300 TRADE 5/21/03 VALUE 11/20/03 Nov 20 Fwd FX Ctrct - 4,995,807.81 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 7.518303600 TRADE 12/12/02 VALUE 11/20/03 - 334,180,000.00 .00 .01 - 2,378,875,844.0 334,180,000.00 1,915,704.00 73,684,296.00 4.16 2,299,895,135.84 .00 Amount to Date Realized Amount Gain/Loss USD - 68,490,000.00 - 9,986,148.57 Amount USD 37,560,000.00 5,476,416.12 EFTA01553348 11 Date JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 34 of 59 Norwegian Krone Activity by Date Settlement continued Realized Type Nov 20 Fwd FX Ctrct Quantity Description 1,510,014.50 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NOK CONTRACT RATE : 7.121971300 TRADE 9/23/03 VALUE 11/20/03 Nov 20 Fwd FX Ctrct 4,995,807.81 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NOK CONTRACT RATE : 7.088443200 TRADE 9/23/03 VALUE 11/20/03 Nov 20 Fwd FX Ctrct - 9,954,138.69 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 7.471264200 TRADE 12/13/02 VALUE 11/20/03 Nov 20 Fwd FX Ctrct - 4,995,807.81 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 7.461255800 TRADE 12/13/02 VALUE 11/20/03 Nov 20 Fwd FX Ctrct - 4,881,328.24 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 7.446743600 TRADE 12/13/02 VALUE 11/20/03 Nov 20 Fwd FX Ctrct - 4,995,807.81 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 7.499287700 TRADE 12/12/02 VALUE 11/20/03 Nov 20 Fwd FX Ctrct - 4,995,807.81 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 7.611381700 TRADE 12/11/02 VALUE 11/20/03 Gain/Loss USD - 10,754,280.00 - 1,568,022.16 Amount Amount USD - 35,412,500.00 - 5,163,301.01 74,370,000.00 10,843,478.89 37,275,000.00 5,434,861.85 36,350,000.00 5,299,992.70 37,465,000.00 5,462,564.70 38,025,000.00 5,544,215.20 EFTA01553349 11 Date JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 35 of 59 Norwegian Krone Activity by Date Settlement continued Realized Type Nov 20 Fwd FX Ctrct Quantity Description 9,991,615.61 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NOK CONTRACT RATE : 7.268594300 TRADE 4/24/03 VALUE 11/20/03 Nov 20 Fwd FX Ctrct 9,991,615.61 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NOK CONTRACT RATE : 7.186025000 TRADE 1/15/03 VALUE 11/20/03 Nov 20 Spot FX 10,759,285.16 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NOK SPOT RATE : 6.979852200 TRADE 11/17/03 VALUE 11/20/03 U S DOLLAR NORWEGIAN KRONE Nov 20 Fwd FX Ctrct - 9,608,636.52 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 7.611381700 TRADE 12/11/02 VALUE 11/20/03 73,135,000.00 10,663,410.36 0.01 Gain/Loss USD - 72,625,000.00 - 10,589,050.08 Amount Amount USD - 71,800,000.00 - 10,468,761.39 - 75,098,220.00 - 10,759,285.16 EFTA01553350 11 JPMorgan Chase Bank 2003 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio November 01, 2003 - November 30, 2003 Page 36 of 59 Account Transactions by Currency Pound Sterling Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Purchases of Securities Miscellaneo