EFTA01553693.pdf

04 2004 Confidential FINANCIAL TRUST COMPANY INC Page 1 of 82 J.P. Morgan Portfolios April 1 - April 30, 2004 Table of Contents Page Account Summary Asset Account Portfolio Margin Account Portfolio 0 JPMCB JPMSI 161121381 2 3 80 000000.0000.00.0000.000.000000000.000000 FINANCIAL TRUST COMPANY INC ATTN: JEFFREY E EPSTEIN C/O AMERICAN YACHT HARBOR 6100 RED HOOK, QUARTERS 153 ST THOMAS 00802 US VIRGIN ISLDS EFTA01553693 04 2004 Portfolio Summary FINANCIAL TRUST COMPANY INC April 01, 2004 - April 30, 2004 Page 2 of 82 Portfolio Summary Net Worth Summary Asset Portfolio USD Assets(Long) Cash fi Short Term Equities Other Options Liabilities (Short) Cash S Short Term Other Options Total FE Gain/Loss Accrued Income Total Net Worth Income Summary Dividends Total 125,108,147.24 63,778,090.76 14,033,368.12 46,434,909.78 861,778.58 - 28,529,587.53 - 19,732,041.69 - 2,551,634.64 - 6,245,911.20 96,578,559.71 - 1,265,387.3432,972.80 95,346,145.17 Margin Portfolio USD 161121381 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 .00 0.00 0.00 125,108,147.24 63,778,090.76 14,033,368.12 46,434,909.78 861,778.58 - 28,529,587.53 - 19,732,041.69 - 2,551,634.64 - 6,245,911.20 96,578,559.71 - 1,265,387.3432,972.80 95,346,145.17 This Period 36,048.08 36,048.08 Year to Date 107,263.05 107,263.05 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 EFTA01553694 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 EFTA01553695 04 JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 3 of 82 Asset Account Portfolio April 1 - April 30, 2004 Table of Contents Portfolio Summary Cash and Short Term Equities Other Options Outstanding Foreign Exchange Contracts Trade Activity Account Transactions Account Officers D'ORAZIO/HORNAK Page 4 6 7 8 12 19 23 33 EFTA01553696 04 JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 4 of 82 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 43% Cash and Short Term 14% Equities 43% Other Market Value USD Apr 30 Cash S Short Term Equities Other Options Total Foreign Exchange Accrued Income Total Portfolio Value 44,046,049.07 14,033,368.12 43,883,275.14 - 5,384,132.62 96,578,559.71 - 1,265,387.34 32,972.80 95,346,145.17 Income Summary Dividends Total Net Gain/Loss Summary Net Short Term Gain/Loss Net Long Term Gain/Loss Total Market Value USD Mar 31 43,371,307.29 16,761,634.10 46,233,924.19 - 4,981,557.89 101,385,307.69 - 482,634.58 36,048.08 100,938,721.19 Tax Cost USD 44,222,090.76 45,525,000.00 - 3,077,259.13 86,669,831.63 Estimated Annual Income USD 593,136.24 Yield 1.4 0.0 0.0 593,136.24 N/A N/A 0.6 This Period USD 36,048.08 36,048.08 Year to Date USD* EFTA01553697 107,263.05 107,263.05 Realized This Period USD Realized Year to Date USD* 700,662.74 700,662.74 Unrealized USD 11,120,034.09 11,120,034.09 *Year to date information is calculated on a calendar year basis. Exchange Rates Spot Rates as of April 30, 2004 Market value of Options is not included in pie chart. Currency AUD EUR GBP Exchange Rate 0.7222 1.1988 1.7732 - 3,216,006.61 - 298,824.47 - 3,514,831.08 EFTA01553698 04 JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 5 of 82 Exchange Rates Spot Rates as of April 30, 2004 Currency HKD HUF JPY MXN NZD THB TWD ZAR Exchange Rate 7.7998 209.4285 110.3550 11.4038 0.6255 40.0100 33.2200 6.9563 EFTA01553699 04 JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 6 of 82 Cash and Short Term Summary by Maturity Current Market Value USD Adjusted Cash Balance Total 44,046,049.07 44,046,049.07 Estimated Annual Income USD 593,136.24 593,136.24 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 P AUSTRALIA DOLLAR JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) 7-Day Annualized Yield: .93% P N ZEALAND DOLLAR COST OF PENDING PURCHASES PROCEEDS FROM PENDING SALES Adjusted Cash Balance AUD - 10,000,000 USD 44,009,272.76 0.7181 1.00 1.00 - 7,181,000.00 44,009,272.76 - 7,222,041.67 44,009,272.76 32,972.80 NZD USD USD - 20,000,000 19,556,000 212,818 0.61875 1.00 1.00 0.6255 - 12,375,000.00 1.00 1.00 19,556,000.00 212,818.00 44,222,090.76 - 12,510,000.02 - 135,000.02 19,556,000.00 212,818.00 44,046,049.07 - 176,041.69 32,972.80 N/A 181,870.80 1,979.21 0.93 0.93 593,136.24 1.35 - 41,041.67 409,286.23 N/A 0.93 Currency/ Unit Cost EFTA01553700 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 EFTA01553701 04 JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 7 of 82 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 17.54 14,033,368.12 14,033,368.12 N/A 0.00 N/A 0.0 EFTA01553702 04 Other Swaps in Alphabetical Order Description WALT DISNEY CO EQUITY SWAP 24,954,900 USD NOTIONAL JAN 19 2005 DEAL REF f 2353480 SWPBDA-FL-1 N/0 Client WALT DISNEY CO TOTAL RETURN SWAP 11,920,650 USD NOTIONAL FEB 14 2005 DEAL REF f 2361214 SWPBDA-FV-9 N/0 Client INTEREST RATE SWAP 10,000,000 AUD NOTIONAL 3/9/2014 REC:FIXED RATE 5.72% AUD SEMI-ANNUAL PAY: FLOATING RATE AUD 3 MONTH BANK BILL RATE ACTUAL/365 SWPBDA-GV-8 N/0 Client - 336,015.00 - 492,974.69 Trade Date Maturity Date Estimated Value USD 1,941,825.68 JPMorgan Chase Bank 2004 Account Number: M FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 8 of 82 EFTA01553703 04 JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 9 of 82 Swaps in Alphabetical Order Description continued Trade Date INTEREST RATE SWAP 10,000,000 NZD NOTIONAL 3/9/2014 REC:FIXED RATE 6.14% NZD SEMI-ANNUAL PAY:FLOATING RATE NZD 3 MONTH BANK BILL RATE ACTUAL/365 SWPBDA-GW-6 N/0 Client INTEREST RATE SWAP 10,000,000 AUD NOTIONAL 3/9/2014 REC:FIXED RATE 5.68% AUD SEMI-ANNUAL PAY:FLOATING RATE AUD 3 MONTH BANK BILL RATE ACTUAL/365 SWPBDA-GX-4 N/0 Client INTEREST RATE SWAP 10,000,000 NZD NOTIONAL 3/9/2014 REC:FIXED RATE 6.11% NZD SEMI-ANNUAL PAY:FLOATING RATE NZD 3 MONTH BANK BILL RATE ACTUAL/365 SWPBDA-GY-2 N/0 Client CROSS CURRENCY SWAP 10MM NZD NOTIONAL 6.51MM USD NOTIONAL 3/9/2014 REC: FIXED RATE 6.26% NZD SEMI-ANNUAL PAY: FLOATING RATE USD 3 MONTH LIBOR QUARTERLY SWPBDA-HA-3 N/0 Client - 429,552.00 - 250,558.00 - 357,471.00 Maturity Date Estimated Value USD - 236,789.00 EFTA01553704 04 JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 10 of 82 Swaps in Alphabetical Order Description continued Trade Date CROSS CURRENCY SWAP 10MM AUD NOTIONAL 7.41MM USD NOTIONAL 3/9/2014 REC: FIXED RATE 5.84% AUD SEMI-ANNUAL PAY: FLOATING RATE USD 3 MONTH LIBOR QUARTERLY SWPBDA-HB-1 N/O Client Structured Investments in Alphabetical Order Description 3 MONTH MXN BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN MXN JPMORGAN CHASE LONDON 5/3/2004 630998-9G-9 Bearer 3 MONTH HUF BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN HUF JPMORGAN CHASE LONDON 5/10/2004 630998-9H-7 Bearer 3 MONTH NZD BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN NZD JPMORGAN CHASE LONDON 5/10/2004 630998-9T-1 Bearer Maturity Date Estimated Value USD - 448,274.95 Market Value USD Unrealized Estimated Annual Currency Quantity MXN 110,500,000 Unit Cost 100.00 PriCe/Unit 100.0177 Tax Cost 10,000,000.00 Accrued Income USD Gain/Loss USD 9,691,545.05 - 308,454.95 Income USD Yield % N/A HUF 2,120,000,000 100.00 104.421 10,000,000.00 10,571,146.80 571,146.80 N/A NZD 10,000,000 100.00 99.9224 6,775,000.00 6,250,155.50 - 524,844.50 N/A EFTA01553705 04 JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 11 of 82 Structured Investments in Alphabetical Order Description 3 MONTH EUR BULLISH FX DEPOSIT 100% PRINCIPAL PROTECTED IN EUR JPMORGAN CHASE LONDON 5/04/2004 630998-9U-8 Bearer Total Other continued Market Value USD Currency EUR Quantity 15,000,000 Unit Cost 100.00 PriCe/Unit 99.994 Tax Cost 18,750,000.00 Accrued Income USD Unrealized Estimated Annual Gain/Loss USD 17,980,236.75 - 769,763.25 Income USD Yield N/A 2,255,500,000 45,525,000.00 43,883,275.14 - 1,031,915.90 EFTA01553706 04 JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 12 of 82 Options Option Holdings in Alphabetical Order Description Cusip Other TURKISH LIRA KNOCK IN PUT OPTION 10,000,000 USD NOTIONAL 14 TRILLION TRL NOTIONAL MAY 14 2004 @ 1,400,000 KNOCK IN TRIGGERED @ 1,420,000 OTCBDP-BB-A Description Cusip Foreign Exchange HUF PUT USD CALL FX EUROPEAN STYLE OPTION SEP 16, 2004 @ 211. KNOCK IN @ 220 XHUFPA-AI-2 HUF PUT USD CALL FX EUROPEAN STYLE OPTION SEP 16, 2004 @ 212. KNOCK IN @ 220 XHUFPA-AJ-2 HUF -1,696,000,000 USD - 8,000,000.00 USD - 424,000.00 - 424,000.00 - 184,202.56 239,797.44 USD - 10,000,000 1.65 - 0.0274 - 165,000.00 - 274,093.80 - 109,093.80 Currency/ Account Type Quantity Unit Cost Current Market Price/Unit Premium USD Current Market Value USD Unrealized Gain/Loss USD Counter Amount Currency Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD HUF -1,002,250,000 USD - 4,750,000.00 USD - 277,875.00 - 277,875.00 - 229,906.13 47,968.87 EFTA01553707 04 Cusip JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 13 of 82 Foreign Exchange Description EUR CALL CHF PUT FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.565 XEURCA-VS-Z EUR PUT CHF CALL FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.55 XEURPA-NV-Z EUR PUT CHF CALL FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.525 KNOCK IN @ 1.52 XEURPA-NW-Z EUR CALL CHF PUT FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.565 XEURCA-VR-Z EUR PUT CHF CALL FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.55 XEURPA-NS-Z EUR PUT CHF CALL FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.525 KNOCK IN @ 1.52 XEURPA-NT-Z EUR PUT USD CALL FX EUROPEAN STYLE OPTION OCT 27, 2004 @ 1.2 KNOCK IN TRIGGERED @ 1.1885 XEURPA-NX-Z EUR - 5,500,000 USD - 6,600,000.00 USD - 198,660.00 - 198,660.00 - 219,329.88 - 20,669.88 EUR - 7,262,295 CHF - 11,074,999.88 USD - 31,765.08 - 31,765.08 - 26,265.98 5,499.10 EUR 10,096,774 CHF 15,649,999.70 USD 141,691.00 141,691.00 57,367.95 - 84,323.05 EUR - 10,000,000 CHF - 15,650,000.00 USD - 36,146.00 - 36,146.00 - 27,907.40 8,238.60 EUR - 10,262,295 CHF - 15,649,999.88 USD - 42,394.00 - 42,394.00 - 26,266.04 16,127.96 EUR 10,096,774 CHF 15,649,999.70 USD 137,397.00 EFTA01553708 137,397.00 57,367.95 - 80,029.05 Counter Amount Currency continued EUR - 10,000,000 CHF - 15,650,000.00 USD - 38,273.00 - 38,273.00 - 27,907.40 10,365.60 Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01553709 04 Cusip JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 14 of 82 Foreign Exchange Description GBP CALL USD PUT FX EUROPEAN STYLE OPTION MAY 24, 2004 @ 1.85 KNOCK IN @ 1.87 XGBPCA-IB-Z AUD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 14, 2004 @ .73 KNOCK IN @ .71 KNOCK OUT @ .7695 XAUDPA-DJ-Z NZD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 21, 2004 @ .625 KNOCK IN @ .6090 KNOCK OUT @ .6500 XNZDPA-DP-Z AUD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 25, 2004 @ .7275 KNOCK IN @ .72 KNOCK OUT @ .7625 XAUDPA-DL-Z ZAR PUT USD CALL FX EUROPEAN STYLE OPTION JUN 03, 2004 @ 7. KNOCK IN @ 7.15 XZARPA-AJ-Z P NZD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 @ .615 XNZDCA-CF-Z NZD O USD 0.00 USD 0.00 0.00 ZAR - 70,000,000 USD - 10,000,000.00 USD - 246,000.00 - 246,000.00 - 309,341.90 - 63,341.90 AUD - 10,000,000 USD - 7,275,000.00 USD - 246,623.00 - 246,623.00 - 315,605.90 - 68,982.90 NZD - 10,000,000 USD - 6,250,000.00 USD - 191,875.00 - 191,875.00 - 217,494.20 - 25,619.20 AUD - 14,000,000 USD - 10,220,000.00 USD - 347,480.00 - 347,480.00 - 471,587.34 - 124,107.34 Counter Amount Currency continued GBP - 2,200,000 USD - 4,070,000.00 USD - 45,584.00 - 45,584.00 - 3,065.70 42,518.30 Counter Premium EFTA01553710 Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01553711 04 Cusip JPMorgan Chase Bank 2004 Account Number:I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 15 of 82 Foreign Exchange Description P AUD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 @ .7181 XAUDCA-BX-Z P NZD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 @ .6225 XNZDCA-CE-Z P JPY PUT USD CALL FX EUROPEAN STYLE OPTION NOV 04, 2004 @ 111. KNOCK IN @ 112.5 KNOCK OUT @ 106.25 XJPYPA-JW-Z HKD PUT USD CALL FX EUROPEAN STYLE OPTION SEP 23, 2004 @ 7.833 XHKDPA-AH-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 EUR 10,000,000 USD 13,000,000.00 USD 56,447.00 56,447.00 84,792.90 28,345.90 EUR 5,000,000 USD 6,250,000.00 USD 49,186.20 49,186.20 350,075.40 300,889.20 HKD 156,660,000 USD 20,000,000.00 USD 312,280.00 312,280.00 13,455.53 - 298,824.47 JPY -1,110,000,000 USD - 10,000,000.00 USD - 138,000.00 - 138,000.00 0.00 138,000.00 NZD O USD 0.00 USD 0.00 0.00 Counter Amount Currency continued AUD O USD 0.00 USD 0.00 0.00 Counter Premium EFTA01553712 Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01553713 04 Cusip JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 16 of 82 Foreign Exchange Description AUD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 11, 2004 @ .7775 KNOCK IN TRIGGERED @ .7565 KNOCK OUT @ .8020 XAUDPA-CQ-Z NZD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 19, 2004 @ .63 XNZDPA-CS-Z EUR PUT USD CALL FX EUROPEAN STYLE OPTION OCT 27, 2004 @ 1.22 KNOCK IN TRIGGERED @ 1.202 XEURPA-MG-Z NZD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 22, 2004 @ .68 KNOCK IN TRIGGERED @ .6625 XNZDPA-DC-Z NZD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 22, 2004 @ .68 KNOCK IN TRIGGERED @ .6625 XNZDPA-DB-Z GBP PUT USD CALL FX EUROPEAN STYLE OPTION AUG 20, 2004 @ 1.875 KNOCK IN TRIGGERED @ 1.8375 XGBPPA-GN-Z GBP - 5,750,000.66 USD - 10,781,251.24 USD - 349,312.54 - 349,312.54 - 727,672.70 - 378,360.16 NZD - 1,986,500 USD - 1,350,820.00 USD - 61,192.17 - 61,192.17 - 147,245.32 - 86,053.15 NZD - 16,650,000 USD - 11,322,000.00 USD - 469,863.00 - 469,863.00 - 1,234,189.74 - 764,326.74 EUR - 1,100,000 USD - 1,342,000.00 USD - 37,710.20 - 37,710.20 - 56,613.83 - 18,903.63 NZD - 12,000,000 USD - 7,560,000.00 USD - 233,226.00 - 233,226.00 - 387,788.28 - 154,562.28 Counter Amount Currency continued AUD - 8,000,000 USD - 6,220,000.00 USD - 213,346.40 - 213,346.40 - 572,851.84 - 359,505.44 Counter Premium EFTA01553714 Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01553715 04 Cusip JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 17 of 82 Foreign Exchange Description AUD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 22, 2004 @ .77 KNOCK IN @ TRIGGERED @ .755 KNOCK OUT @ .7965 XAUDPA-DH-Z THB CALL USD PUT FX EUROPEAN STYLE OPTION FEB 23, 2005 @ 36. XTHBCA-AC-Z THB CALL USD PUT FX EUROPEAN STYLE OPTION FEB 23, 2005 @ 38. XTHECA-AB-Z TWD CALL USD PUT FX EUROPEAN STYLE OPTION MAR 01, 2005 @ 32.75 XTWDCA-AB-Z EUR CALL USD PUT FX EUROPEAN STYLE OPTION JUL 20, 2004 @ 1.24 KNOCK IN @ 1.26 XEURCA-VN-Z NZD PUT USD CALL FX EUROPEAN STYLE OPTION SEP 13, 2004 @ .63 KNOCK IN @ .60 XNZDPA-DE-Z NZD - 15,000,000 USD - 9,450,000.00 USD - 272,160.00 - 272,160.00 - 422,227.95 - 150,067.95 EUR - 5,625,000 USD - 6,975,000.00 USD - 134,618.00 - 134,618.00 - 56,525.12 78,092.88 TWD 327,500,000 USD 10,000,000.00 USD 196,000.00 196,000.00 141,692.88 - 54,307.12 THB 351,500,000 USD 9,250,000.00 USD 108,225.00 108,225.00 52,130.97 - 56,094.03 THB 2,700,000,000 USD 75,000,000.00 USD 405,000.00 405,000.00 104,895.00 - 300,105.00 Counter Amount Currency Continued AUD - 1,500,000 USD - 1,155,000.00 USD - 23,561.94 - 23,561.94 - 102,187.29 - 78,625.35 Counter Premium Amount Currency Premium EFTA01553716 Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01553717 04 Cusip JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 18 of 82 Foreign Exchange Description GBP PUT USD CALL FX EUROPEAN STYLE OPTION JUN 15, 2004 @ 1.78 KNOCK IN TRIGGERED @ 1.76 XGBPPA-GT-2 GBP CALL USD PUT FX EUROPEAN STYLE OPTION JUN 15, 2004 @ 1.83 KNOCK IN TRIGGERED @ 1.86 XGBPCA-NW-2 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. - 2,912,259.13 - 5,110,038.82 - 2,197,779.69 GBP - 5,000,000 USD - 9,150,000.00 USD - 91,500.00 - 91,500.00 - 34,692.35 56,807.65 Counter Amount Currency continued GBP - 5,000,000 USD - 8,900,000.00 USD - 167,320.00 - 167,320.00 - 170,942.55 - 3,622.55 Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD 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. EFTA01553718 04 JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 19 of 82 Outstanding Foreign Exchange Contracts Net Currency Exposure Summary Australia Dollar Euro Currency Pound Sterling Hungarian Forint Japanese Yen N Zealand Dollar U S Dollar Value in Currency 13,000,000.00 13,000,000.00 13,000,000.14 1,694,220,000.00 1,182,170,000.00 20,000,000.00 - 79,624,525.43 Gain/Loss Summary Total Unrealized Closed Value in USD Total Unrealized Open Total Unrealized Gain/Loss - 423,800.02 - 841,587.32 - 1,265,387.34 Foreign Exchange Contracts Settlement Date Trade Date SPECULATIVE AUSTRALIA DOLLAR - U S DOLLAR Apr. 29 04 May. 3 04 AUD Apr. 30 04 May. 3 04 AUD Feb. 20 04 Aug. 24 04 AUD Feb. 20 04 Aug. 24 04 AUD Mar. 1 04 Aug. 24 04 AUD Total Closed Apr. 30 04 May. 4 04 AUD Apr. 29 04 Jun. 1 04 AUD Apr. 16 04 Oct. 20 04 AUD - 5,000,000.00 USD 5,000,000.00 USD 7,500,000.00 USD 7,500,000.00 USD - 15,000,000.00 USD 0.00 10,000,000.00 USD - 10,000,000.00 USD 10,000,000.00 USD 3,590,500.00 - 3,603,500.00 - 5,676,750.00 - 5,639,250.00 11,347,500.00 18,500.00 - 7,180,000.00 7,171,000.00 - 7,289,000.00 0.7181 0.7207 0.7569 0.7519 0.7565 0.718 0.7171 0.7289 1.392564 1.387540 0.712078 0.712078 EFTA01553719 0.712078 1.392758 0.719304 0.707404 3,590,500.00 3,603,500.00 5,340,584.45 5,340,584.45 11,347,500.00 29,222,668.90 7,180,000.00 7,171,000.00 7,074,039.27 3,590,500.00 3,603,500.00 5,676,750.00 5,639,250.00 10,681,168.90 29,191,168.90 7,180,000.00 7,193,036.03 7,289,000.00 0.00 0.00 - 336,165.55 - 298,665.55 666,331.10 31,500.00 0.00 - 22,036.03 - 214,960.73 Currency Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD EFTA01553720 04 Trade Date JPMorgan Chase Bank 2004 Account Number: FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 20 of 82 Foreign Exchange Contracts Settlement Date Currency Apr. 23 04 Oct. 20 04 AUD Total Open Total continued Amount Counter Currency 3,000,000.00 USD 13,000,000.00 13,000,000.00 EURO CURRENCY - U S DOLLAR Feb. 9 04 May. 11 04 EUR Feb. 9 04 May. 11 04 EUR Feb. 11 04 May. 11 04 EUR Feb. 12 04 May. 11 04 EUR Mar. 1 04 May. 11 04 EUR Mar. 3 04 Jun. 7 04 EUR Mar. 5 04 Jun. 7 04 EUR Mar. 5 04 Jun. 7 04 EUR Mar. 16 04 Jun. 7 04 EUR Feb. 20 04 Aug. 24 04 EUR Mar. 1 04 Aug. 24 04 EUR Total Closed Apr. 16 04 Oct. 20 04 EUR Apr. 23 04 Oct. 20 04 EUR Total Open Total Apr. 26 04 May. 7 04 GBP Mar. 3 04 Jun. 7 04 GBP Mar. 5 04 Jun. 7 04 GBP Mar. 5 04 Jun. 8 04 GBP Mar. 16 04 Jun. 8 04 GBP Feb. 23 04 Aug. 24 04 GBP 15,000,000.00 USD 3,000,000.00 USD - 7,000,000.00 USD - 5,000,000.00 USD - 6,000,000.00 USD 5,000,000.00 USD 10,000,000.00 USD 20,000,000.00 USD - 35,000,000.00 USD 7,500,000.00 USD - 7,500,000.00 USD 0.00 10,000,000.00 USD 3,000,000.00 USD 13,000,000.00 13,000,000.00 POUND STERLING - JAPANESE YEN POUND STERLING - U S DOLLAR - 4,996,787.86 JPY 10,000,000.00 USD - 10,000,000.00 USD 10,000,000.00 USD - 10,000,000.00 USD 10,000,000.00 USD Counter Amount - 2,148,600.00 - 9,446,600.00 - 9,428,100.00 - 18,936,000.00 - 3,787,200.00 8,939,000.00 EFTA01553721 6,389,500.00 7,448,400.00 - 6,073,500.00 - 12,395,000.00 - 24,726,000.00 42,952,000.00 - 9,395,250.00 9,287,250.00 - 296,800.00 - 11,971,000.00 - 3,536,700.00 - 15,507,700.00 - 15,804,500.00 968,327,520.00 - 18,106,000.00 18,290,000.00 - 18,295,000.00 18,012,000.00 - 18,337,000.00 Contract Rate 0.7162 Current Market Forward Rate 0.707404 Market Value Receivables USD 2,122,211.78 23,547,251.05 52,769,919.95 1.2624 1.2624 1.277 1.2779 1.2414 1.2147 1.2395 1.2363 1.2272 1.2527 1.2383 1.1971 1.1789 0.834459 0.834459 0.834459 0.834459 0.834459 0.835094 0.835094 0.835094 0.835094 0.836535 0.836535 0.837316 0.837316 17,975,726.29 3,595,145.25 8,939,000.00 6,389,500.00 7,448,400.00 5,987,353.32 11,974,706.65 23,949,413.30 42,952,000.00 8,965,549.14 9,287,250.00 147,464,043.95 11,942,918.85 3,582,875.65 15,525,794.50 162,989,838.45 193.79 1.8106 1.829 1.8295 1.8012 1.8337 195.510136 1.766989 EFTA01553722 1.766989 1.766837 1.766837 1.754989 8,776,603.02 17,669,889.81 18,290,000.00 17,668,369.81 18,012,000.00 17,549,893.10 Market Value Payables USD 2,148,600.00 23,810,636.03 53,001,804.93 18,936,000.00 3,787,200.00 8,388,672.27 5,991,908.76 7,190,290.51 6,073,500.00 12,395,000.00 24,726,000.00 41,911,473.27 9,395,250.00 8,965,549.14 147,760,843.95 11,971,000.00 3,536,700.00 15,507,700.00 163,268,543.95 8,854,506.67 18,106,000.00 17,669,889.81 18,295,000.00 17,668,369.81 18,337,000.00 Unrealized Gain/Loss USD - 26,388.22 - 263,384.98 - 231,884.98 - 960,273.71 - 192,054.75 550,327.73 397,591.24 258,109.49 - 86,146.68 - 420,293.35 - 776,586.70 1,040,526.73 - 429,700.86 321,700.86 - 296,800.00 - 28,081.15 46,175.65 18,094.50 - 278,705.50 - 77,903.65 - 436,110.19 620,110.19 - 626,630.19 343,630.19 - 787,106.90 EFTA01553723 04 Trade Date JPMorgan Chase Bank 2004 Account Number: 0 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 21 of 82 Foreign Exchange Contracts Settlement Date Currency Mar. 1 04 Aug. 24 04 GBP Total Closed Apr. 21 04 May. 7 04 GBP Apr. 26 04 May. 7 04 GBP Apr. 16 04 Oct. 20 04 GBP Apr. 23 04 Oct. 20 04 GBP Total Open Total Continued Amount Counter Currency - 10,000,000.00 USD 0.00 5,000,000.00 USD - 3,212.00 USD 10,000,000.00 USD 3,000,000.00 USD 17,996,788.00 17,996,788.00 HUNGARIAN FORINT - U S DOLLAR Apr. 27 04 Oct. 20 04 HUF Apr. 28 04 Oct. 20 04 HUF Total Open JAPANESE YEN Apr. 21 04 May. 7 04 JPY Feb. 20 04 May. 24 04 JPY Mar. 2 04 May. 24 04 JPY Apr. 21 04 May. 24 04 JPY Apr. 16 04 Oct. 20 04 JPY Total Open 1,059,940,000.00 USD 634,280,000.00 USD 1,694,220,000.00 - U S DOLLAR - 968,327,520.00 USD 1,087,300,000.00 USD - 1,087,300,000.00 USD 105,470,000.00 USD 1,076,700,000.00 USD 213,842,480.00 N ZEALAND DOLLAR - U S DOLLAR Apr. 29 04 May. 3 04 NZD Apr. 29 04 May. 3 04 NZD Apr. 28 04 May. 11 04 NZD Apr. 29 04 May. 11 04 NZD Mar. 3 04 Jun. 8 04 NZD Mar. 4 04 Jun. 8 04 NZD Mar. 16 04 Jun. 8 04 NZD Mar. 22 04 Jun. 8 04 NZD - 5,000,000.00 USD 5,000,000.00 USD - 5,000,000.00 USD 5,000,000.00 USD 15,000,000.00 USD 15,000,000.00 USD - 10,000,000.00 USD - 20,000,000.00 USD 8,887,000.00 - 10,000,000.00 9,939,665.42 - 968,681.12 - 10,000,000.00 - 2,142,015.70 3,075,000.00 EFTA01553724 - 3,110,000.00 3,105,500.00 - 3,107,000.00 - 9,943,500.00 - 9,900,000.00 6,450,000.00 13,118,000.00 108.96 108.73 109.39 108.88 107.67 110.330559 110.271200 110.271200 110.271200 109.620287 8,887,000.00 9,860,235.50 9,939,665.42 956,460.07 9,822,087.00 39,465,447.99 0.615 0.622 0.6211 0.6214 0.6629 0.66 0.645 0.6559 1.626016 1.607717 0.624618 0.624618 0.622343 0.622343 0.622343 0.622343 3,075,000.00 3,110,000.00 3,105,500.00 3,123,090.70 9,335,151.40 9,335,151.40 6,450,000.00 13,118,000.00 8,776,603.02 10,000,000.00 9,860,235.50 968,681.12 10,000,000.00 39,605,519.64 3,075,000.00 3,110,000.00 3,123,090.70 3,107,000.00 9,943,500.00 9,900,000.00 6,223,434.27 12,446,868.54 110,396.98 - 139,764.50 79,429.92 - 12,221.05 - 177,913.00 - 140,071.65 0.00 0.00 - 17,590.70 16,090.70 - 608,348.60 - 564,848.60 226,565.73 671,131.46 Counter Amount 18,404,000.00 - 32,000.00 EFTA01553725 - 8,887,000.00 5,735.67 - 17,725,000.00 - 5,232,300.00 - 31,838,564.33 - 31,870,564.33 - 4,803,280.91 - 2,859,564.49 - 7,662,845.40 Contract Rate 1.8404 1.7774 1.7857 1.7725 1.7441 Current Market Forward Rate 1.754989 1.772040 1.772040 1.746306 1.746306 Market Value Receivables USD 18,404,000.00 107,594,152.72 8,860,198.71 5,735.67 17,463,063.17 5,238,918.95 31,567,916.50 139,162,069.22 220.67 221.81 219.449117 219.449117 4,830,003.48 2,890,328.33 7,720,331.81 Market Value Payables USD 17,549,893.10 107,626,152.72 8,887,000.00 5,691.79 17,725,000.00 5,232,300.00 31,849,991.79 139,476,144.51 4,803,280.91 2,859,564.49 7,662,845.40 Unrealized Gain/Loss USD 854,106.90 - 32,000.00 - 26,801.29 43.88 - 261,936.83 6,618.95 - 282,075.29 - 314,075.29 26,722.57 30,763.84 57,486.41 EFTA01553726 04 Trade Date JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 22 of 82 Foreign Exchange Contracts Settlement Date Currency Feb. 20 04 Aug. 24 04 NZD Feb. 23 04 Aug. 24 04 NZD Mar. 2 04 Aug. 24 04 NZD Mar. 11 04 Mar. 15 05 NZD Mar. 23 04 Mar. 15 05 NZD Total Closed Apr. 30 04 May. 4 04 NZD Apr. 16 04 Oct. 20 04 NZD Total Open Total Total Foreign Exchange Contracts continued Amount Counter Currency 5,000,000.00 USD 5,000,000.00 USD - 10,000,000.00 USD 5,000,000.00 USD - 5,000,000.00 USD 0.00 10,000,000.00 USD 10,000,000.00 USD 20,000,000.00 20,000,000.00 Counter Amount - 3,315,000.00 - 3,344,500.00 6,742,000.00 - 3,102,500.00 3,170,500.00 - 161,500.00 - 6,279,000.00 - 6,276,000.00 - 12,555,000.00 - 12,716,500.00 Contract Rate 0.663 0.6689 0.6742 0.6205 0.6341 0.6279 0.6276 Current Market Forward Rate 0.616435 0.616435 0.616435 0.603022 0.603022 1.59261 0.612227 Market Value Receivables USD 3,082,176.23 3,082,176.23 6,742,000.00 3,015,111.61 3,170,500.00 69,743,857.57 6,279,000.00 6,122,267.34 12,401,267.34 EFTA01553727 82,145,124.91 493,029,335.35 Market Value Payables USD 3,315,000.00 3,344,500.00 6,164,352.47 3,102,500.00 3,015,111.61 69,870,357.59 6,279,000.00 6,276,000.00 12,555,000.00 82,425,357.59 494,294,722.69 Unrealized Gain/Loss USD - 232,823.77 - 262,323.77 577,647.53 - 87,388.39 155,388.39 - 126,500.02 0.00 - 153,732.66 - 153,732.66 - 280,232.68 - 1,265,387.34 EFTA01553728 04 JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 23 of 82 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 Apr 1 Apr 5 Buy-Back Opt GBP PUT USD CALL FX EUROPEAN STYLE OPTION NOV 22, 2004 @ 1.865 Apr 1 Apr 5 Buy-Back Opt KNOCK IN TRIGGERED @ 1.8285 GBP PUT USD CALL FX EUROPEAN STYLE OPTION NOV 22, 2004 @ 1.865 Apr 1 Apr 5 Buy-Back Opt KNOCK IN TRIGGERED @ 1.8285 GBP PUT USD CALL FX EUROPEAN STYLE OPTION APR 22, 2004 @ 1.84 KNOCK IN TRIGGERED @ 1.8250 USD 3,800,000 - 54,887.00 76,212.80 21,325.80 S USD 2,200,000 - 195,303.00 167,402.41 - 27,900.59 S USD 3,400,000 - 300,563.00 258,712.82 - 41,850.18 S Realized Type Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD Amount USD 576,324.31 0.00 74,818.00 EFTA01553729 04 Trade Date JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 24 of 82 Settlement Date Realized Type Settled continued Apr 2 Apr 6 Buy-Back Opt NZD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 22, 2004 @ .68 Apr 6 Apr 6 Expired Opt KNOCK IN TRIGGERED @ .6625 EUR CALL USD PUT FX EUROPEAN STYLE OPTION JAN 31, 2005 @ 1.35 KNOCK OUT @ 1.1995 BARRIER EXP 4/29/04 Issued in USD Apr 7 Apr 13 write Option Apr 7 Apr 13 Buy-Back Opt AUD CALL USD PUT FX EUROPEAN STYLE OPTION APR 08, 2004 @ .767 GBP PUT USD CALL FX EUROPEAN STYLE OPTION APR 22, 2004 @ 1.84 Apr 8 Apr 8 Expired Opt KNOCK IN TRIGGERED @ 1.8250 AUD CALL USD PUT FX EUROPEAN STYLE OPTION APR 08, 2004 8 .767 Issued in USD Apr 8 Apr 14 Purchase Opt EUR PUT USD CALL Apr 8 Apr 14 Buy-Back Opt FX EUROPEAN STYLE OPTION APR 15, 2004 @ 1.18 NOK CALL USD PUT Apr 12 Apr 14 Buy-Back Opt FX EUROPEAN STYLE OPTION APR 28, 2004 @ 6.85 KNOCK IN @ 6.75 EUR CALL USD PUT FX EUROPEAN STYLE OPTION APR 28, 2004 @ 1.23 KNOCK IN @ 1.25 USD USD 30,000,000 51,375,000 0.067 - 23,718.00 - 41,250.00 60,750.00 19,500.00 S AUD 10,000,000 0.00 27,229.00 27,229.00 S USD USD - 10,000,000 6,000,000 0.355 27,229.00 - 96,048.00 120,336.00 24,288.00 S EUR - 20,000,000 EFTA01553730 0.00 - 291,600.00 - 291,600.00 S USD 3,350,000 - 166,977.00 94,537.00 - 72,440.00 S Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD 10,000,000 - 35,670.00 77,490.00 41,820.00 S EFTA01553731 04 Trade Date JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 25 of 82 Settlement Date Realized Type Settled continued Apr 12 Apr 14 Sell Option NZD CALL USD PUT FX EUROPEAN STYLE OPTION DEC 13, 2004 @ .66 KNOCK OUT @ .62 Apr 13 Apr 15 Buy-Back Opt KNOCK OUT @ .68 BARRIER EXP 4/13/04 EUR PUT USD CALL FX EUROPEAN STYLE OPTION OCT 27, 2004 @ 1.22 Apr 13 Apr 15 Buy-Back Opt KNOCK IN TRIGGERED @ 1.202 EUR PUT USD CALL FX EUROPEAN STYLE OPTION OCT 27, 2004 @ 1.2 Apr 13 Apr 15 Buy-Back Opt KNOCK IN TRIGGERED @ 1.1885 EUR PUT USD CALL FX EUROPEAN STYLE OPTION OCT 27, 2004 @ 1.2 Apr 13 Apr 15 Write Option Apr 14 Apr 16 Write Option KNOCK IN TRIGGERED @ 1.1885 NZD CALL USD PUT FX EUROPEAN STYLE OPTION APR 14, 2004 @ .6525 AUD PUT USD CALL Apr 14 Apr 14 Expired Opt FX EUROPEAN STYLE OPTION OCT 14, 2004 @ .73 KNOCK IN @ .71 KNOCK OUT @ .7695 NZD CALL USD PUT FX EUROPEAN STYLE OPTION APR 14, 2004 @ .6525 Issued in USD Apr 14 Apr 16 Write Option NZD PUT USD CALL FX EUROPEAN STYLE OPTION APR 15, 2004 @ .6345 USD - 20,000,000 0.436 55,328.00 USD USD - 20,000,000 - 14,000,000 0.37 3.40 48,285.00 347,480.00 USD 5,000,000 - 217,200.00 180,600.00 - 36,600.00 S USD 14,500,000 - 685,560.00 523,740.00 - 161,820.00 S USD EFTA01553732 3,900,000 - 214,348.00 133,699.80 - 80,648.20 S USD - 20,000,000 380,160.00 - 129,360.00 250,800.00 S Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD NZD 20,000,000 0.00 48,285.00 48,285.00 S EFTA01553733 04 Trade Date JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 26 of 82 Settlement Date Realized Type Settled continued Apr 15 Apr 16 Write Option Apr 15 Apr 19 Buy-Back Opt TURKISH LIRA KNOCK IN PUT OPTION 10,000,000 USD NOTIONAL 14 TRILLION TRL NOTIONAL MAY 14 2004 @ 1,400,000 KNOCK IN @ 1,420,000 EUR CALL USD PUT Apr 15 Apr 15 Expired Opt Apr 15 Apr 19 Buy-Back Opt FX EUROPEAN STYLE OPTION APR 28, 2004 @ 1.23 KNOCK IN @ 1.25 EUR PUT USD CALL FX EUROPEAN STYLE OPTION APR 15, 2004 @ 1.18 GBP CALL USD PUT Apr 15 Apr 15 Expired Opt FX EUROPEAN STYLE OPTION MAY 24, 2004 @ 1.85 KNOCK IN @ 1.87 NZD PUT USD CALL FX EUROPEAN STYLE OPTION APR 15, 2004 @ .6345 Issued in USD Apr 15 Apr 19 Write Option Apr 16 Apr 20 Purchase Opt NZD PUT USD CALL FX EUROPEAN STYLE OPTION APR 16, 2004 @ .6375 GBP CALL USD PUT FX EUROPEAN STYLE OPTION OCT 18, 2004 @ 1.81 KNOCK OUT @ 1.7695 BARRIER EXP 5/18/2004 Apr 16 Apr 16 Expired Opt NZD PUT USD CALL FX EUROPEAN STYLE OPTION APR 16, 2004 @ .6375 Issued in USD NZD 20,000,000 0.00 39,270.00 39,270.00 S USD USD - 20,000,000 5,000,000 0.308 1.09 39,270.00 - 98,645.00 USD - 10,000,000 165,000.00 Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD EFTA01553734 10,000,000 - 18,450.00 77,490.00 59,040.00 S USD USD - 30,000,000 0.00 5,000,000 - 32,375.00 - 23,718.00 94,350.00 - 23,718.00 S 61,975.00 S NZD 20,000,000 0.00 55,328.00 55,328.00 S EFTA01553735 04 Trade Date JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 27 of 82 Settlement Date Realized Type Settled continued Apr 21 Apr 21 Expired Opt GBP CALL USD PUT FX EUROPEAN STYLE OPTION OCT 18, 2004 @ 1.81 KNOCK OUT @ 1.7695 BARRIER EXP 5/18/2004 Issued in USD Apr 22 Apr 27 Write Option AUD PUT USD CALL Apr 22 Apr 26 FX Option Assi FX EUROPEAN STYLE OPTION OCT 25, 2004 @ .7275 KNOCK IN @ .72 KNOCK OUT @ .7625 GBP PUT USD CALL FX EUROPEAN STYLE OPTION APR 22, 2004 @ 1.84 Apr 22 Apr 26 Write Option KNOCK IN TRIGGERED @ 1.8250 NZD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 21, 2004 @ .625 KNOCK IN @ .6090 KNOCK OUT @ .6500 Apr 22 Apr 26 FX Opt Asgn'D SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION BUY GBP SELL USD Apr 27 Apr 29 Buy-Back Opt EUR PUT CHF CALL Apr 27 Apr 29 Buy-Back Opt FX EUROPEAN STYLE OPTION JUN 25, 2004 @ 1.525 KNOCK IN @ 1.52 GBP CALL USD PUT FX EUROPEAN STYLE OPTION MAY 24, 2004 @ 1.85 KNOCK IN @ 1.87 USD USD 5,200,000 3,000,000 1.84 - 9,568,000.00 - 10,187.00 9,568,000.00 13,121.92 2,934.92 S USD - 10,000,000 3.07 191,875.00 USD - 10,000,000 3.39 246,623.00 GBP - 5,000,000 0.00 - 98,645.00 - 98,645.00 S Description Currency Quantity EFTA01553736 Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD 5,200,000 0.00 104,291.20 104,291.20 S USD 2,800,000 - 9,842.00 58,016.00 48,174.00 S EFTA01553737 04 Trade Date JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 28 of 82 Settlement Date Realized Type Settled continued Apr 28 Apr 30 FX Option AssiGBP PUT USD CALL FX EUROPEAN STYLE OPTION APR 28, 2004 @ 1.79 Apr 28 Apr 30 Write Option KNOCK IN TRIGGERED @ 1.77 ZAR PUT USD CALL FX EUROPEAN STYLE OPTION JUN 03, 2004 @ 7. KNOCK IN @ 7.15 Apr 28 Apr 30 FX Opt Asgn'D Apr 29 Apr 29 Expired Opt SPOT CURRENCY TRANSACTION SETTLEMENT OF ASSIGNED FX OPTION BUY GBP SELL USD GBP CALL USD PUT Apr 29 Apr 29 Expired Opt FX EUROPEAN STYLE OPTION APR 28, 2004 @ 1.845 KNOCK IN @ 1.8650 NOK CALL USD PUT FX EUROPEAN STYLE OPTION APR 28, 2004 @ 6.85 KNOCK IN @ 6.75 Trade Date Estimated Settlement Date Pending Apr 29 May 3 Write Option Apr 29 May 6 Write Option AUD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 @ .7181 JPY PUT USD CALL FX EUROPEAN STYLE OPTION NOV 04, 2004 @ 111. KNOCK IN @ 112.5 KNOCK OUT @ 106.25 USD -1,110,000,000 1.38 138,000.00 USD - 10,000,000 0.37 26,570.00 Realized Gain/Loss Type Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost USD USD USD 10,000,000 10,000,000 1.79 - 17,900,000.00 0.00 17,900,000.00 110,700.00 110,700.00 S EFTA01553738 USD - 70,000,000 2.46 246,000.00 USD 10,000,000 0.00 132,460.00 132,460.00 S Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD 51,375,000 0.00 60,750.00 60,750.00 S EFTA01553739 04 Trade Date JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 29 of 82 Estimated Settlement Date Realized Gain/Loss Type Pending continued Apr 29 May 3 Write Option Apr 29 May 3 Write Option NZD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 a .6225 NZD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 a .615 Apr 30 May 4 FX Option Assignment Apr 30 May 4 FX Option Assignment Apr 30 May 4 FX Option Assignment Apr 30 May 4 FX Opt Asgn'D Apr 30 May 4 FX Opt Asgn'D Apr 30 May 4 FX Opt Asgn'D Trade Date Settlement Date AUD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 a .7181 NZD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 a .6225 NZD CALL USD PUT FX EUROPEAN STYLE OPTION APR 30, 2004 a .615 AUSTRALIA DOLLAR N ZEALAND DOLLAR N ZEALAND DOLLAR Counter Currency Settled Foreign Exchange Contracts SPECULATIVE AUSTRALIA DOLLAR - U S DOLLAR Apr 1 04 Apr 5 04 Apr 7 04 Apr 2 04 Apr 8 04 Apr 8 04 AUD 10,000,000.00 USD - 7,639,000.00 AUD - 10,000,000.00 USD AUD 10,000,000.00 USD - 7,595,000.00 7,517,000.00 0.763900 0.751700 0.759500 0.763900 0.759500 0.759500 - 7,639,000.00 7,517,000.00 - 7,595,000.00 7,639,000.00 - 7,595,000.00 7,595,000.00 - 78,000.00 Amount Currency Counter Amount USD EFTA01553740 AUD NZD NZD Contract Rate 10,000,000 - 10,000,000 - 10,000,000 - 10,000,000 Revaluation Rate 0.00 0.722 0.625 0.625 0.00 0.00 0.00 0.00 Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD 25,215.00 USD 10,000,000 0.00 0.00 23,033.00 USD 10,000,000 0.00 0.00 26,570.00 USD - 10,000,000 0.41 25,215.00 USD - 10,000,000 0.37 23,033.00 Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost USD EFTA01553741 04 Date Apr 2 04 Apr 6 04 Apr 8 04 Apr 8 04 Apr 8 04 Apr 8 04 Apr 8 04 JPMorgan Chase Bank 2004 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 30 of 82 Settled Foreign Exchange contracts Trade Settlement Date Currency Apr 13 04 Apr 13 04 Apr 13 04 Apr 13 04 Apr 16 04 Apr 16 04 Apr 16 04 Apr 15 04 Apr 16 04 Apr 15 04 Apr 23 04 Apr 21 04 Apr 23 04 Apr 23 04 Apr 28 04 Apr 23 04 Apr 28 04 Apr 21 04 Apr 30 04 Apr 29 04 Apr 30 04 Counter Amount Currency continued AUD - 10,000,000.00 USD 7,600,000.00 AUD 10,000,000.00 USD - 7,628,000.00 AUD - 10,000,000.00 USD AUD 10,000,000.00 USD - 7,603,000.00 AUD - 10,000,000.00 USD AUD - 10,000,000.00 USD AUD 10,000,000.00 USD - 7,628,000.00 AUD 10,000,000.00 USD - 7,343,000.00 AUD - 10,000,000.00 USD AUD 7,630,000.00 7,600,000.00 7,628,000.00 7,336,000.00 AUD 10,000,000.00 USD - 7,300,000.00 2,500,000.00 USD - 1,826,750.00 1,829,000.00 7,293,000.00 AUD - 2,500,000.00 USD AUD - 10,000,000.00 USD AUD 10,000,000.00 USD - 7,200,000.00 EURO CURRENCY - HUNGARIAN FORINT Apr 13 04 Apr 22 04 EUR Apr 16 04 Apr 22 04 Apr 21 04 Apr 22 04 Apr 7 04 Apr 7 04 6,000,000.00 HUF- 1,491,960,000.00 EUR - 3,000,000.00 HUF 756,000,000.00 EUR - 2,980,462.66 HUF 745,980,000.00 EURO CURRENCY - U S DOLLAR Apr 5 04 Apr 5 04 0.760000 0.762800 0.763000 0.760300 0.760000 EFTA01553742 0.762800 0.762800 0.734300 0.733600 0.730000 0.730700 0.731600 0.729300 0.720000 248.660000 252.000000 250.290000 1.325750 1.325750 0.757295 0.760300 1.342900 1.342900 1.342900 0.734300 1.369500 0.730000 1.382300 1.382300 1.384650 0.720000 1.186451 212.071080 1.186451 212.071080 1.186451 0.004710 EUR 15,000,000.00 USD - 18,030,000.00 EUR - 15,000,000.00 USD 18,067,500.00 1.202000 1.204500 1.202000 1.202000 7,600,000.00 - 7,628,000.00 7,630,000.00 - 7,603,000.00 7,600,000.00 7,628,000.00 - 7,628,000.00 - 7,343,000.00 7,336,000.00 - 7,300,000.00 - 1,826,750.00 1,829,000.00 7,293,000.00 - 7,200,000.00 7,118,704.39 - 3,559,352.19 - 3,536,172.10 - 7,542,900.24 7,542,900.24 - 7,572,950.12 7,603,000.00 - 7,446,570.85 - 7,446,570.85 7,446,570.85 7,343,000.00 - 7,301,935.01 7,300,000.00 1,808,579.90 - 1,808,579.90 - 7,222,041.67 7,200,000.00 - 7,035,188.18 3,564,842.40 3,517,594.08 57,099.76 - 85,099.76 57,049.88 153,429.15 181,429.15 - 181,429.15 34,064.99 EFTA01553743 - 18,170.10 20,420.10 70,958.33 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD 83,516.21 5,490.21 - 18,578.02 - 18,030,000.00 18,030,000.00 18,067,500.00 - 18,030,000.00 37,500.00 EFTA01553744 04 Date JPMorgan Chase Bank 2004 Account Number: FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio April 01, 2004 - April 30, 2004 Page 31 of 82 Settled Foreign Exchange Contracts Trade Settlement Date Currency Apr 13 04 Apr 15 04 Apr 13 04 Apr 15 04 Apr 21 04 Apr 22 04 Apr 21 04 Apr 27 04 Apr 22 04 Apr 27 04 Apr 23 04 Apr 27 04 Apr 23 04 Apr 27 04 Apr 2 04 Apr 2 04 Apr 6 04 Apr 6 04 Counter Amount Currency continued EUR - 7,000,000.00 USD EUR EUR EUR EUR - 5,000,000.00 USD EUR EUR - 2,500,000.00 USD POUND STERLING - U S DOLLAR GBP Apr 22 04 Apr 26 04 Apr 23 04 Apr 27 04 Apr 23 04 Apr 27 04 Apr 27 04 Apr 30 04 Apr 27 04 Apr 30 04 8,374,100.00 7,000,000.00 USD - 8,343,300.00 - 19,537.34 USD 23,229.90 5,000,000.00 USD - 5,947,000.00 5,950,500.00 2,500,000.00 USD - 2,958,000.00 2,956,750.00 GBP - 5,000,000.00 USD GBP - 5,200,000.00 USD GBP - 2,500,000.00 USD GBP GBP - 3,000,000.00 USD HUNGARIAN FORINT - U S DOLLAR Apr 16 04 Apr 22 04 Apr 23 04 Apr 27 04 Apr 26 04 Apr 27 04 Apr 26 04 Apr 28 04 Apr 26 04 Apr 28 04 Apr 27 04 Apr 28 04 Apr 27 04 Apr 28 04 Apr 27 04 Apr 29 04 5,000,000.00 USD - 9,156,000.00 9,154,000.00 9,234,160.00 4,429,500.00 2,500,000.00 USD - 4,426,250.00 5,366,700.00 GBP - 7,000,000.00 USD 12,528,600.00 HUF - 10,020,000.00 USD 47,603.21 HUF 1,272,000,000.00 USD - 6,000,000.00 HUF- 1,272,000,000.00 USD HUF 847,880,000.00 USD - 4,000,000.00 HUF 1,272,000,000.00 USD - 6,000,000.00 HUF- 1,059,940,000.00 USD EFTA01553745 HUF- 1,059,940,000.00 USD HUF 1,059,940,000.00 USD - 5,023,412.32 6,001,981.78 1.196300 1.191900 1.189000 1.189400 1.190100 1.183200 1.182700 1.831200 1.830800 1.775800 1.771800 1.770500 1.788900 1.789800 5,023,412.32 5,023,412.32 210.490000 212.000000 211.930000 211.970000 212.000000 211.000000 211.000000 211.000000 1.191900 1.191900 1.186451 1.190334 1.187956 1.183200 1.187956 1.831200 1.831200 1.840000 1.770500 1.770500 1.790000 1.790000 212.071086 212.000000 212.000000 211.970000 212.000000 211.988000 211.988000 211.000000 8,374,100.00 - 8,343,300.00 23,229.90 - 5,947,000.00 5,950,500.00 - 2,958,000.00 2,956,750.00 - 9,156,000.00 9,154,000.00 9,234,160.00 4,429,500.00 - 4,426,250.00 5,366,700.00 - 8,343,300.00 8,343,300.00 - 23,180.09 5,951,672.41 - 5,939,781.61 2,958,000.00 - 2,969,890.80 9,156,000.00 - 9,156,000.00 - 9,568,000.00 - 4,426,250.00 4,426,250.00 - 5,370,000.00 12,528,600.00 - 12,530,000.00 47,603.21 - 6,000,000.00 6,001,981.78 EFTA01553746 - 4,000,000.00 - 6,000,000.00 5,023,412.32 5,023,412.32 - 5,023,412.32 - 47,248.30 6,000,000.00 - 6,000,000.00 4,000,000.00 6,000,000.00 - 5,000,000.00 - 5,000,000.00 5,023,412.32 30,800.00 49.81 4,672.41 10,718.39 - 13,140.80 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD - 2,000.00 - 333,840.00 3,250.00 - 3,300.00 - 1,400.00