EFTA01552826.pdf

05 2003 Confidential FINANCIAL TRUST COMPANY INC Page 1 of 41 J.P. Morgan Portfolios May 1 - May 31, 2003 Table of Contents Page Account Summary Asset Account Portfolio Margin Account Portfolio Q 30171-00-5 JPMCB JPMSI 161121381 2 3 39 000000.0000.00.0000.000.000000000.000000 FINANCIAL TRUST COMPANY INC ATTN: JEFFREY E EPSTEIN C/O AMERICAN YACHT HARBOR 6100 RED HOOK, QUARTERS IBS ST THOMAS 00802 US VIRGIN ISLDS EFTA01552826 05 2003 FINANCIAL TRUST COMPANY INC Portfolio Summary May 01, 2003 - May 31, 2003 Page 2 of 41 Portfolio Summary Net Worth Summary Asset Portfolio USD Q 30171-00-5 Assets(Long) Cash S Short Term Equities Options Liabilities (Short) Cash S Short Term Options Total FX Gain/Loss Accrued Income Total Net Worth Income Summary Taxable Interest Dividends Total 110,585,736.18 95,082,671.21 13,945,359.54 1,557,705.43 - 6,271,112.14 - 496,010.00 - 5,775,102.14 104,314,624.04 10,705,399.60 90,551.53 115,110,575.17 Margin Portfolio USD 161121381 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 .00 0.00 0.00 110,585,736.18 95,082,671.21 13,945,359.54 1,557,705.43 - 6,271,112.14 - 496,010.00 - 5,775,102.14 104,314,624.04 10,705,399.60 90,551.53 115,110,575.17 This Period 90,795.14 90,795.14 Year to Date 258,350.00 466,686.11 725,036.11 JPMorgan provides this Portfolio Summary for informational purposes. This summary includes informatx 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 EFTA01552827 EFTA01552828 05 JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 3 of 41 Asset Account Portfolio May 1 - May 31, 2003 Table of Contents Portfolio Summary Cash and Short Term Equities Options Outstanding Foreign Exchange Contracts Trade Activity Account Transactions Account Officers Service Specialist: HORNAK/DORAZIO Page 4 6 7 8 14 18 25 EFTA01552829 05 JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 4 of 41 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 87% Cash and Short Term 13% Equities Market Value USD May 31 Cash S Short Term Equities Options Total Foreign Exchange Accrued Income Total Portfolio Value 94,586,661.21 13,945,359.54 - 4,217,396.71 104,314,624.04 10,705,399.60 90,551.53 115,110,575.17 Income Summary Taxable Interest Dividends Total Net Gain/Loss Summary Net Short Term Gain/Loss Total Market Value USD Apr 30 99,016,969.27 14,849,447.68 - 2,668,620.01 111,197,796.94 4,913,456.98 90,795.14 116,202,049.06 Tax Cost USD 94,586,661.21 - 2,742,199.21 91,844,462.00 Estimated Annual Income USD 1,044,236.74 1,044,236.74 Yield 1.1 0.0 N/A N/A 1.0 This Period USD 90,795.14 90,795.14 Year to Date USD* 258,350.00 466,686.11 725,036.11 Realized This Period USD Realized Year to Date USD* - 1,056,105.13 - 1,056,105.13 EFTA01552830 *Year to date information is calculated on a calendar year basis. Exchange Rates Spot Rates as of May 31, 2003 Market value of Options is not included in pie chart. Currency AUD CHF EUR Exchange Rate 0.6517 1.3025 1.1762 Unrealized USD 1,323,707.59 - 1,475,197.55 1,323,707.59 - 1,475,197.55 EFTA01552831 05 JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 5 of 41 Exchange Rates Spot Rates as of May 31, 2003 Currency GBP HKD JPY MXN NOK NZD ZAR Exchange Rate 1.6384 7.7987 119.6050 10.3390 6.6926 0.5774 8.0476 EFTA01552832 05 JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 6 of 41 Cash and Short Term Summary by Maturity Current Market Value USD Adjusted Cash Balance Total 94,586,661.21 94,586,661.21 Estimated Annual Income USD 1,044,236.74 1,044,236.74 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: 1.10% PROCEEDS FROM PENDING SALES Adjusted Cash Balance USD 95,082,671.21 1.00 1.00 95,082,671.21 95,082,671.21 90,551.53 USD - 496,010 1.00 1.00 - 496,010.00 94,586,661.21 - 496,010.00 94,586,661.21 90,551.53 1,049,712.69 1.10 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 - 5,475.95 1.10 1,044,236.74 1.10 EFTA01552833 05 JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 7 of 41 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 USD Total Equity 800,078 800,078 17.43 13,945,359.54 13,945,359.54 N/A 0.00 N/A 0.0 EFTA01552834 05 JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 8 of 41 Options Foreign Exchange Description Cusip HKD PUT USD CALL FX EUROPEAN STYLE OPTION SEP 23, 2004 8 7.833 XHKDPA-AH-2 NOK CALL USD PUT FX EUROPEAN STYLE OPTION SEP 26, 2003 8 6.85 XNOKCA-BJ-2 JPY CALL USD PUT FX EUROPEAN STYLE OPTION JUL 02, 2003 8 110. XJPYCA-DA-2 NOK CALL USD PUT FX EUROPEAN STYLE OPTION JUL 11, 2003 8 6.75 XNOKCA-BP-2 MXN PUT USD CALL FX EUROPEAN STYLE OPTION SEP 08, 2003 8 11.3 XMXNPA-AP-2 CHF CALL USD PUT FX EUROPEAN STYLE OPTION DEC 11, 2003 8 1.2 XCHFCA-CQ-2 CHF 12,000,000 USD 10,000,000.00 USD 107,300.00 107,300.00 90,821.16 - 16,478.84 MXN - 113,000,000 USD - 10,000,000.00 USD - 487,000.00 - 487,000.00 - 66,462.08 420,537.92 NOK 67,500,000 USD 10,000,000.00 USD 146,000.00 146,000.00 173,370.38 27,370.38 JPY 2,200,000,000 USD 20,000,000.00 USD 165,000.00 165,000.00 1,254.00 - 163,746.00 NOK 41,100,000 USD 6,000,000.00 USD 120,600.00 120,600.00 0.00 - 120,600.00 Counter Amount Currency Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD HKD 156,660,000 USD 20,000,000.00 USD EFTA01552835 312,280.00 312,280.00 112,705.90 - 199,574.10 EFTA01552836 O5 Cusip JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 9 of 41 Foreign Exchange Description CHF CALL USD PUT FX EUROPEAN STYLE OPTION DEC 11, 2003 @ 1.2 XCHFCA-CR-Z CHF CALL USD PUT FX EUROPEAN STYLE OPTION MAR 15, 2004 @ 1.15 XCHFCA-CX-Z CHF PUT USD CALL FX EUROPEAN STYLE OPTION JUN 13, 2003 @ 1.355 XCHFPA-CX-Z CHF PUT USD CALL FX EUROPEAN STYLE OPTION SEP 16, 2003 @ 1.38 XCHFPA-DH-Z CHF CALL USD PUT FX EUROPEAN STYLE OPTION MAR 16, 2004 @ 1.175 XCHFCA-DC-Z EUR PUT USD CALL FX EUROPEAN STYLE OPTION SEP 17, 2003 @ 1.045 XEURPA-HP-Z NZD PUT USD CALL FX EUROPEAN STYLE OPTION DEC 23, 2003 @ .5515 KNOCK IN @ .5200 XNZDPA-AQ-Z NZD - 10,000,000 USD - 5,515,000.00 USD - 278,298.00 - 278,298.00 - 106,550.00 171,748.00 EUR - 9,569,377.99 USD - 10,000,000.00 USD - 227,335.00 - 227,335.00 - 6,781.34 220,553.66 CHF 58,750,000 USD 50,000,000.00 USD 420,690.00 420,690.00 529,583.08 108,893.08 CHF - 16,560,000 USD - 12,000,000.00 USD - 281,032.00 - 281,032.00 - 63,064.95 217,967.05 CHF - 23,712,500 USD - 17,500,000.00 USD - 307,927.00 - 307,927.00 - 6,160.03 301,766.97 CHF 80,500,000 USD 70,000,000.00 USD 543,848.00 543,848.00 547,069.95 3,221.95 Counter Amount Currency continued CHF 12,000,000 USD 10,000,000.00 USD 106,200.00 EFTA01552837 106,200.00 90,821.16 - 15,378.84 Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01552838 05 Cusip JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 10 of 41 Foreign Exchange Description CHF PUT USD CALL FX EUROPEAN STYLE OPTION OCT 06, 2003 9 1.42 XCHFPA-DN-2 EUR PUT USD CALL FX EUROPEAN STYLE OPTION OCT 06, 2003 9 1.04 XEURPA-HZ-Z GBP CALL USD PUT FX EUROPEAN STYLE OPTION DEC 11, 2003 9 1.575 XGBPCA-HA-2 NOK PUT USD CALL FX EUROPEAN STYLE OPTION JUL 14, 2003 9 7.33 XNOKPA-DS-Z EUR PUT GBP CALL FX EUROPEAN STYLE OPTION JUN 13, 2003 9 .68 XEURPA-IB-Z P NOK CALL USD PUT FX EUROPEAN STYLE OPTION DEC 11, 2003 9 7.15 XNOKCA-BW-Z EUR PUT USD CALL FX EUROPEAN STYLE OPTION OCT 16, 2003 9 1. XEURPA-ID-Z EUR 50,000,000 USD 50,000,000.00 USD 300,000.00 300,000.00 11,827.00 - 288,173.00 NOK - 53,785,066.25 USD - 7,522,386.89 USD - 123,367.21 - 123,367.21 - 473,996.66 - 350,629.45 EUR 40,000,000 GBP 27,200,000.00 USD 272,664.00 272,664.00 252.80 - 272,411.20 NOK - 73,300,000 USD - 10,000,000.00 USD - 227,000.00 - 227,000.00 - 2,879.96 224,120.04 GBP - 5,000,000 USD - 7,875,000.00 USD - 136,238.00 - 136,238.00 - 317,650.10 - 181,412.10 EUR - 5,000,000 USD - 5,200,000.00 USD - 92,292.00 - 92,292.00 - 4,658.40 87,633.60 Counter Amount Currency continued CHF - 6,975,000 USD - 4,911,971.83 USD EFTA01552839 - 91,092.00 - 91,092.00 - 14,205.08 76,886.92 Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01552840 05 Cusip JPMorgan Chase Bank 2003 Account Number: 0 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 11 of 41 Foreign Exchange Description EUR PUT USD CALL FX EUROPEAN STYLE OPTION OCT 16, 2003 @ 1.048 EUR BINARY ONE-TOUCH XEURPA-IE-2 EUR CALL CHF PUT FX EUROPEAN STYLE OPTION OCT 20, 2003 @ 1.495 XEURCA-QM-2 P NOK CALL USD PUT FX EUROPEAN STYLE OPTION JUN 10, 2003 @ 7. XNOKCA-BX-2 NOK PUT USD CALL FX EUROPEAN STYLE OPTION OCT 24, 2003 @ 7.2 KNOCK IN @ 7.60 XNOKPA-DU-2 NOK PUT USD CALL FX EUROPEAN STYLE OPTION OCT 30, 2003 @ 7.1 KNOCK-IN @ 7.55 XNOKPA-DX-2 NOK PUT USD CALL FX EUROPEAN STYLE OPTION OCT 30, 2003 @ 7.1 KNOCK-IN @ 7.55 XNOKPA-DW-2 NOK - 35,500,000 USD - 5,000,000.00 USD - 164,775.00 - 164,775.00 - 44,282.70 120,492.30 NOK - 56,800,000 USD - 8,000,000.00 USD - 262,200.00 - 262,200.00 - 70,852.32 191,347.68 NOK - 65,594,995.20 USD - 9,110,416.00 USD - 265,958.00 - 265,958.00 - 57,269.02 208,688.98 NOK - 35,875,000 USD - 5,125,000.00 USD - 41,000.00 - 41,000.00 - 665,995.02 - 624,995.02 EUR - 20,000,000 CHF - 29,900,000.00 USD - 110,023.00 - 110,023.00 - 508,601.00 - 398,578.00 Counter Amount Currency continued EUR - 562,977.10 USD - 590,000.00 USD - 300,000.00 - 300,000.00 - 52,604.58 247,395.42 Counter Premium Amount Currency Premium Local EFTA01552841 Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01552842 05 Cusip JPMorgan Chase Bank 2003 Account Number: 0 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 12 of 41 Foreign Exchange Description NZD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 06, 2003 @ .56 KNOCK IN @ .53 XNZDPA-BB-Z ZAR PUT USD CALL FX EUROPEAN STYLE OPTION FEB 10, 2004 @ 7.5 KNOCK OUT @ 7.03 XZARPA-AF-Z JPY PUT USD CALL FX EUROPEAN STYLE OPTION FEB 13, 2004 @ 116 KNOCK OUT @ 112 XJPYPA-JD-Z JPY PUT USD CALL FX EUROPEAN STYLE OPTION FEB 17, 2004 @ 116 KNOCK OUT @ 113 XJPYPA-JH-Z ZAR PUT USD CALL FX EUROPEAN STYLE OPTION FEB 25, 2004 @ 8.3 KNOCK OUT @ 7.80 XZARPA-AG-Z P NZD PUT USD CALL FX EUROPEAN STYLE OPTION FEB 27, 2004 @ .57 KNOCK OUT @ .5825 XNZDPA-BK-Z NZD - 20,000,000 USD - 11,400,000.00 USD - 192,660.00 - 192,660.00 0.00 192,660.00 ZAR - 49,800,000 USD - 6,000,000.00 USD - 228,000.00 - 228,000.00 - 250,685.73 - 22,685.73 JPY -1,218,000,000 USD - 10,500,000.00 USD - 139,104.00 - 139,104.00 - 377,494.74 - 238,390.74 JPY -1,160,000,000 USD - 10,000,000.00 USD - 162,750.00 - 162,750.00 - 376,338.80 - 213,588.80 ZAR - 112,500,000 USD - 15,000,000.00 USD - 583,500.00 - 583,500.00 - 2,092,532.63 - 1,509,032.63 Counter Amount Currency continued NZD - 20,000,000 USD - 11,200,000.00 USD - 319,200.00 - 319,200.00 - 216,037.00 103,163.00 Counter Premium Amount Currency Premium Local EFTA01552843 Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01552844 05 Cusip JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 13 of 41 Foreign Exchange Description P NZD PUT USD CALL FX EUROPEAN STYLE OPTION FEB 27, 2004 @ .57 KNOCK OUT @ .585 XNZDPA-BL-Z P NZD PUT USD CALL FX EUROPEAN STYLE OPTION FEB 27, 2004 @ .57 KNOCK OUT @ .5865 XNZDPA-BM-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. - 2,742,199.21 - 4,217,396.71 - 1,475,197.55 NZD - 10,000,000 USD - 5,700,000.00 USD - 117,420.00 - 117,420.00 0.00 117,420.00 Counter Amount Currency continued NZD - 10,000,000 USD - 5,700,000.00 USD - 98,610.00 - 98,610.00 0.00 98,610.00 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. EFTA01552845 05 JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 14 of 41 Outstanding Foreign Exchange Contracts Net Currency Exposure Summary Australia Dollar Swiss Franc Euro Currency Pound Sterling Japanese Yen Norwegian Krone N Zealand Dollar U S Dollar Value in Currency 40,000,000.00 25,982,500.00 50,000,000.00 5,000,000.00 1,730,400,000.00 204,530,250.00 40,000,000.00 - 169,007,927.14 Gain/Loss Summary Total Unrealized Closed Value in USD Total Unrealized Open Total Unrealized Gain/Loss 2,142,201.40 8,563,198.20 10,705,399.60 Foreign Exchange Contracts Settlement Date Trade Date SPECULATIVE AUSTRALIA DOLLAR - U S DOLLAR Total Closed Jan. 21 03 Jun. 12 03 AUD Mar. 28 03 Jun. 12 03 AUD May. 1 03 Nov. 5 03 AUD May. 8 03 Nov. 5 03 AUD Total Open Total 15,000,000.00 USD - 15,000,000.00 USD 0.00 20,000,000.00 USD 20,000,000.00 USD 40,000,000.00 40,000,000.00 CANADIAN DOLLAR - U S DOLLAR Apr. 30 03 Nov. 3 03 CAD 14,510,000.00 USD - 8,704,500.00 8,932,500.00 228,000.00 - 12,430,000.00 - 12,666,000.00 - 25,096,000.00 - 24,868,000.00 - 10,000,000.00 0.5803 0.5955 0.6215 0.6333 0.650914 0.650914 0.641704 0.641704 9,763,711.51 8,932,500.00 18,696,211.51 12,834,079.74 EFTA01552846 12,834,079.74 25,668,159.48 44,364,370.99 1.451 1.385705 10,471,202.05 8,704,500.00 9,763,711.51 18,468,211.51 12,430,000.00 12,666,000.00 25,096,000.00 43,564,211.51 10,000,000.00 1,059,211.51 - 831,211.51 228,000.00 404,079.74 168,079.74 572,159.48 800,159.48 471,202.05 Currency Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD EFTA01552847 05 Trade Date JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 15 of 41 Foreign Exchange Contracts Settlement Date Currency May. 5 03 Nov. 3 03 CAD May. 1 03 Nov. 5 03 CAD May. 5 03 Nov. 5 03 CAD Total Closed SWISS FRANC Dec. 30 02 Jun. 12 03 CHF Jan. 15 03 Jun. 12 03 CHF Total Closed May. 8 03 Nov. 5 03 CHF Dec. 12 02 Dec. 15 03 CHF Dec. 13 02 Dec. 15 03 CHF Jan. 15 03 Dec. 15 03 CHF Apr. 24 03 Dec. 15 03 CHF Total Open Total Continued Amount Counter Currency - 14,510,000.00 USD - 14,510,000.00 USD 14,510,000.00 USD 0.00 - U S DOLLAR 13,880,000.00 USD - 13,880,000.00 USD 0.00 26,050,000.00 USD 7,178,000.00 USD 14,290,000.00 USD - 13,765,000.00 USD - 7,770,500.00 USD 25,982,500.00 25,982,500.00 EURO CURRENCY - U S DOLLAR Dec. 11 02 Jun. 12 03 EUR Mar. 12 03 Jun. 12 03 EUR Dec. 12 02 Dee. 15 03 EUR Dec. 12 02 Dee. 15 03 EUR Mar. 12 03 Dee. 15 03 EUR Mar. 12 03 Dee. 15 03 EUR Total Closed Apr. 30 03 Nov. 5 03 EUR Apr. 30 03 Nov. 5 03 EUR May. 7 03 Nov. 5 03 EUR May. 7 03 May. 10 04 EUR Total Open Total 5,000,000.00 USD - 5,000,000.00 USD 5,000,000.00 USD 1,500,000.00 USD - 5,000,000.00 USD - 1,500,000.00 USD 0.00 15,000,000.00 USD 10,000,000.00 USD 10,000,000.00 USD 15,000,000.00 USD 50,000,000.00 50,000,000.00 - 10,000,000.00 10,050,687.91 50,687.91 - 20,000,000.00 EFTA01552848 - 5,000,000.00 - 10,000,000.00 10,000,000.00 5,747,411.24 - 19,252,588.76 - 19,201,900.85 - 5,030,000.00 5,483,500.00 - 5,044,000.00 - 1,510,500.00 5,440,000.00 1,635,750.00 974,750.00 - 16,650,000.00 - 11,111,000.00 - 11,320,000.00 - 17,002,500.00 - 56,083,500.00 - 55,108,750.00 1.006 1.0967 1.0088 1.007 1.088 1.0905 1.11 1.1111 1.132 1.1335 0.850513 0.850513 0.854809 0.854809 0.854809 0.854809 0.853966 0.853966 0.853966 0.857638 1.388 1.381 1.3025 1.4356 1.429 1.3765 1.352 1.301988 1.301988 1.297209 1.296094 1.296094 1.296094 1.296094 10,660,620.61 10,050,687.91 20,711,308.52 20,081,575.68 5,538,180.44 11,025,438.63 10,000,000.00 5,747,411.24 52,392,605.99 73,103,914.51 5,878,801.46 5,483,500.00 5,849,262.31 1,754,778.69 5,440,000.00 1,635,750.00 26,042,092.46 17,565,104.56 11,710,069.71 11,710,069.71 17,489,905.20 58,475,149.18 84,517,241.64 10,000,000.00 10,660,620.61 20,660,620.61 EFTA01552849 20,000,000.00 5,000,000.00 10,000,000.00 10,620,375.28 5,995,323.36 51,615,698.64 72,276,319.25 5,030,000.00 5,878,801.46 5,044,000.00 1,510,500.00 5,849,262.31 1,754,778.69 25,067,342.46 16,650,000.00 11,111,000.00 11,320,000.00 17,002,500.00 56,083,500.00 81,150,842.46 660,620.61 - 609,932.70 50,687.91 81,575.68 538,180.44 1,025,438.63 - 620,375.28 - 247,912.12 776,907.35 827,595.26 848,801.46 - 395,301.46 805,262.31 244,278.69 - 409,262.31 - 119,028.69 974,750.00 915,104.56 599,069.71 390,069.71 487,405.20 2,391,649.18 3,366,399.18 Counter Amount 10,112,202.94 10,097,425.19 - 10,113,612.60 96,015.53 Contract Rate 1.4349 1.437 1.4347 Current Market Forward Rate 1.385705 1.385863 1.385863 Market Value Receivables USD 10,112,202.94 10,097,425.19 10,470,013.68 41,150,843.86 Market Value Payables USD 10,471,202.05 10,470,013.68 10,113,612.60 41,054,828.33 Unrealized Gain/Loss USD - 358,999.11 - 372,588.49 356,401.08 96,015.53 EFTA01552850 05 Trade Date JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 16 of 41 Foreign Exchange Contraets Settlement Date Currency POUND STERLING - U S DOLLAR JAPANESE YEN Dec. 13 02 Dec. 15 03 GBP Dec. 13 02 Dec. 15 03 JPY Jan. 23 03 Dec. 15 03 JPY Total Closed May. 15 03 Jun. 19 03 JPY May. 15 03 Jun. 19 03 JPY Total Open Total - U S DOLLAR 1,186,500,000.00 USD - 1,186,500,000.00 USD 0.00 576,400,000.00 USD 1,154,000,000.00 USD 1,730,400,000.00 1,730,400,000.00 NORWEGIAN KRONE - U S DOLLAR Apr. 30 03 Jun. 5 03 NOK May. 16 03 Jun. 5 03 NOK May. 27 03 Jun. 5 03 NOK Dec. 30 02 Jun. 12 03 NOK Jan. 16 03 Jun. 12 03 NOK may. 15 03 Jun. 12 03 NOK may. 19 03 Jun. 12 03 NOK Dec. 11 02 Dec. 15 03 NOK Dec. 11 02 Dec. 15 03 NOK Dec. 12 02 Dec. 15 03 NOK Dec. 12 02 Dec. 15 03 NOK Dec. 13 02 Dec. 15 03 NOK Dec. 13 02 Dec. 15 03 NOK Dec. 13 02 Dec. 15 03 NOK Jan. 15 03 Dec. 15 03 NOK 70,220,000.00 USD - 34,062,500.00 USD - 19,903,500.00 USD 71,125,000.00 USD 34,750,000.00 USD 29,111,250.00 USD - 67,975,000.00 USD 73,135,000.00 USD 38,025,000.00 USD 37,560,000.00 USD 37,465,000.00 USD 74,370,000.00 USD 37,275,000.00 USD 36,350,000.00 USD - 71,800,000.00 USD - 10,000,000.00 10,171,453.06 171,453.06 - 5,000,000.00 - 10,000,000.00 - 15,000,000.00 - 14,828,546.94 - 10,000,000.00 5,000,000.00 3,000,000.00 - 10,000,000.00 - 5,000,000.00 - 4,226,924.25 10,000,000.00 - 9,616,699.53 - 5,000,000.00 EFTA01552851 - 5,000,000.00 - 5,000,000.00 - 9,962,491.63 - 5,000,000.00 - 4,885,424.37 10,000,000.00 118.65 116.65 115.28 115.40 118.808122 118.808122 119.518865 119.518865 9,986,691.00 10,171,453.06 20,158,144.06 4,822,669.63 9,655,379.52 14,478,049.15 34,636,193.21 7.022 6.8125 6.6345 7.1125 6.95 6.8871 6.7975 7.605 7.605 7.512 7.493 7.465 7.455 7.4405 7.18 6.696000 6.696000 6.696000 6.700759 6.700759 6.700759 6.700759 6.809336 6.809336 6.809336 6.809336 6.809336 6.809336 6.809336 6.809336 10,486,858.43 5,000,000.00 3,000,000.00 10,614,468.68 5,185,979.42 4,344,470.31 10,000,000.00 10,740,401.54 5,584,245.14 5,515,956.54 5,502,005.11 10,921,770.18 5,474,102.24 5,338,259.32 10,000,000.00 10,000,000.00 9,986,691.00 19,986,691.00 5,000,000.00 10,000,000.00 15,000,000.00 34,986,691.00 10,000,000.00 5,086,992.53 2,972,446.41 10,000,000.00 5,000,000.00 4,226,924.25 EFTA01552852 10,144,372.70 9,616,699.53 5,000,000.00 5,000,000.00 5,000,000.00 9,962,491.63 5,000,000.00 4,885,424.37 10,544,347.17 - 13,309.00 184,762.06 171,453.06 - 177,330.37 - 344,620.48 - 521,950.85 - 350,497.79 486,858.43 - 86,992.53 27,553.59 614,468.68 185,979.42 117,546.06 - 144,372.70 1,123,702.01 584,245.14 515,956.54 502,005.11 959,278.55 474,102.24 452,834.95 - 544,347.17 Continued Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD 5,000,000.00 USD - 7,770,500.00 1.5541 1.617982 8,089,912.27 7,770,500.00 319,412.27 EFTA01552853 05 Trade Date JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 17 of 41 Foreign Exchange Contracts Settlement Date Currency Apr. 24 03 Dec. 15 03 NOK May. 21 03 Dec. 15 03 NOK Total Open continued Amount Counter Currency - 72,625,000.00 USD - 68,490,000.00 USD 204,530,250.00 N ZEALAND DOLLAR - U S DOLLAR Apr. 16 03 Oct. 22 03 NZD May. 8 03 Oct. 22 03 NZD Total Open 20,000,000.00 USD 20,000,000.00 USD 40,000,000.00 SWEDISH KRONA - U S DOLLAR Dec. 12 02 Dec. 15 03 SEK Dec. 12 02 Dec. 15 03 SEK Mar. 12 03 Dec. 15 03 SEK Total Closed Total Foreign Exchange Contracts 45,757,500.00 USD 45,617,500.00 USD - 91,375,000.00 USD 0.00 Counter Amount 10,000,000.00 10,000,000.00 - 25,691,539.78 - 10,936,000.00 - 11,320,000.00 - 22,256,000.00 - 5,000,000.00 - 5,000,000.00 10,621,294.90 621,294.90 Contract Rate 7.2625 6.849 Current Market Forward Rate 6.809336 6.809336 Market Value Receivables USD 10,000,000.00 10,000,000.00 127,708,516.91 0.5468 0.566 0.568399 0.568399 11,367,978.32 11,367,978.32 22,735,956.64 9.1515 9.1235 8.603 7.847314 7.847314 7.847314 5,830,976.10 EFTA01552854 5,813,135.60 10,621,294.90 22,265,406.60 458,572,356.63 Market Value Payables USD 10,665,504.36 10,058,249.83 123,163,452.78 10,936,000.00 11,320,000.00 22,256,000.00 5,000,000.00 5,000,000.00 11,644,111.70 21,644,111.70 447,866,957.03 Unrealized Gain/Loss USD - 665,504.36 - 58,249.83 4,545,064.13 431,978.32 47,978.32 479,956.64 830,976.10 813,135.60 - 1,022,816.80 621,294.90 10,705,399.60 EFTA01552855 05 JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 18 of 41 Trade Activity Realized Gain/Loss Summary Short Term Gain/Loss Long Term Gain/Loss 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 May 1 May 5 Sell Option May 1 May 5 Buy-Back Opt May 1 May 5 Buy-Back Opt May 1 May 5 Write Option NOK CALL USD PUT FX EUROPEAN STYLE OPTION DEC 11, 2003 @ 7. NOK CALL USD PUT FX EUROPEAN STYLE OPTION MAY 13, 2003 @ 7. NOK CALL USD PUT FX EUROPEAN STYLE OPTION MAY 13, 2003 @ 7. NOK PUT USD CALL FX EUROPEAN STYLE OPTION NOV 03, 2003 @ 7.05 KNOCK IN @ 7.15 KNOCK OUT @ 6.85 USD USD USD USD - 52,500,000 94,500,000 56,000,000 - 47,587,500 1.363 184,550.00 - 166,000.00 - 92,000.00 92,000.00 - 108,923.00 68,500.00 40,592.59 75,627.00 S - 97,500.00 S - 51,407.41 S Realized Type Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD Amount USD - 1,157,188.71 0.00 EFTA01552856 05 Trade Date JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 19 of 41 Settlement Date Realized Type Settled continued May 1 May 5 Write Option NOK PUT USD CALL May 1 May 5 Write Option FX EUROPEAN STYLE OPTION NOV 03, 2003 @ 7.05 KNOCK IN @ 7.15 KNOCK OUT @ 6.85 NZD PUT USD CALL May 2 May 6 Buy-Back Opt May 2 May 6 Write Option FX EUROPEAN STYLE OPTION FEB 03, 2004 @ .55 KNOCK IN @ .54 KNOCK OUT @ .5730 NOK CALL USD PUT FX EUROPEAN STYLE OPTION MAY 13, 2003 @ 7. NOK PUT USD CALL May 7 May 7 Expired Opt FX EUROPEAN STYLE OPTION FEB 04, 2004 @ 7.1 KNOCK IN @ 7.40 KNOCK OUT @ 6.90 NOK PUT USD CALL FX EUROPEAN STYLE OPTION FEB 04, 2004 @ 7.1 KNOCK IN @ 7.40 KNOCK OUT @ 6.90 Issued in USD May 7 May 7 Expired Opt NZD PUT USD CALL FX EUROPEAN STYLE OPTION FEB 03, 2004 @ .55 KNOCK IN @ .54 KNOCK OUT @ .5730 Issued in USD NZD 20,000,000 0.00 165,440.00 165,440.00 S USD - 95,175,000 1.23 166,000.00 Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD - 20,000,000 1.504 165,440.00 USD USD 38,500,000 - 45,000.00 - 49,700,000 1.387 97,090.00 27,907.41 EFTA01552857 - 17,092.59 S NOK 49,700,000 0.00 97,090.00 97,090.00 S EFTA01552858 05 Trade Date JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 20 of 41 Settlement Date Realized Type Settled continued May 7 May 12 Write Option NZD PUT USD CALL May 8 May 12 Buy-Back Opt FX EUROPEAN STYLE OPTION NOV 06, 2003 @ .56 KNOCK IN @ .53 EUR CALL GBP PUT May 8 May 8 Expired Opt FX EUROPEAN STYLE OPTION JAN 15, 2004 @ .69 KNOCK OUT @ .6750 NOK PUT USD CALL FX EUROPEAN STYLE OPTION NOV 03, 2003 @ 7.05 KNOCK IN @ 7.15 KNOCK OUT @ 6.85 Issued in USD May 8 May 8 Expired Opt NOK PUT USD CALL FX EUROPEAN STYLE OPTION NOV 03, 2003 @ 7.05 KNOCK IN @ 7.15 KNOCK OUT @ 6.85 Issued in USD May 8 May 12 Sell Option May 8 May 12 Write Option NZD CALL USD PUT FX EUROPEAN STYLE OPTION MAY 23, 2003 @ .56 ZAR PUT USD CALL May 12May 14 Write Option May 12May 14 Write Option FX EUROPEAN STYLE OPTION FEB 10, 2004 @ 7.5 KNOCK OUT @ 7.03 NOK CALL USD PUT FX EUROPEAN STYLE OPTION MAY 15, 2003 @ 6.8 NOK PUT USD CALL FX EUROPEAN STYLE OPTION MAY 15, 2003 @ 6.87 USD USD - 20,000,000 - 112,500,000 3.89 263,200.00 583,500.00 - 198,240.00 64,960.00 S NOK 95,175,000 0.00 166,000.00 166,000.00 S USD - 20,000,000 2.85 319,200.00 Description Currency Quantity Price/Unit Market Cost/Proceeds EFTA01552859 Tax cost Gain/Loss USD USD 40,000,000 - 2,187,500.00 618,904.00 - 1,568,596.00 S NOK 47,587,500 0.00 92,000.00 92,000.00 S USD USD - 102,000,000 0.29 - 68,700,000 0.20 44,000.00 20,000.00 EFTA01552860 05 Trade Date JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account or o May 01, 2003 - May 31, 2003 Page 21 of 41 Settlement Date Realized Type Settled continued May 13May 15 Write Option EUR PUT USD CALL May 14May 16 Write Option FX EUROPEAN STYLE OPTION FEB 13, 2004 @ 1.15 KNOCK IN @ 1.10 KNOCK OUT @ 1.1795 JPY PUT USD CALL May 15May 19 Sell Option May 15May 15 Expired Opt May 15May 19 Write Option FX EUROPEAN STYLE OPTION FEB 13, 2004 @ 116 KNOCK OUT @ 112 CHF CALL USD PUT FX EUROPEAN STYLE OPTION JUN 26, 2003 @ 1.35 EUR PUT USD CALL FX EUROPEAN STYLE OPTION MAY 15, 2003 @ 1.0685 JPY PUT USD CALL May 15May 15 Expired Opt May 16May 16 Expired Opt May 16May 16 Expired Opt May 19May 19 Expired Opt FX EUROPEAN STYLE OPTION FEB 17, 2004 @ 116 KNOCK OUT @ 113 NZD PUT USD CALL FX EUROPEAN STYLE OPTION MAY 15, 2003 @ .541 NOK CALL USD PUT FX EUROPEAN STYLE OPTION MAY 15, 2003 @ 6.8 NOK PUT USD CALL FX EUROPEAN STYLE OPTION MAY 15, 2003 @ 6.87 CHF PUT USD CALL FX EUROPEAN STYLE OPTION MAY 19, 2003 @ 1.4 USD - 15,000,000 1.85 319,275.00 Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD -1,160,000,000 1.63 162,750.00 USD USD - 13,500,000 339,000.00 32,000,000 USD -1,218,000,000 1.32 0.00 139,104.00 - 200,000.00 EFTA01552861 222,932.00 139,000.00 S 222,932.00 S USD USD USD USD 10,000,000 0.00 102,000,000 68,700,000 - 14,000,000 0.00 0.00 0.00 78,789.00 44,000.00 20,000.00 - 126,800.00 78,789.00 S 44,000.00 S 20,000.00 S - 126,800.00 S EFTA01552862 05 Trade Date JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 22 of 41 Settlement Date Realized Type Settled continued May 19May 19 Expired Opt May 20May 22 Write Option CHF PUT USD CALL FX EUROPEAN STYLE OPTION MAY 19, 2003 @ 1.43 EUR PUT USD CALL May 21May 23 Sell Option May 23May 23 Expired Opt FX EUROPEAN STYLE OPTION FEB 19, 2004 @ 1.16 KNOCK OUT @ 1.1825 NOK CALL USD PUT FX EUROPEAN STYLE OPTION SEP 26, 2003 @ 6.85 EUR PUT USD CALL FX EUROPEAN STYLE OPTION FEB 13, 2004 @ 1.15 KNOCK IN @ 1.10 KNOCK OUT @ 1.1795 Issued in USD May 23May 23 Expired Opt May 27May 27 Expired Opt NZD PUT USD CALL FX EUROPEAN STYLE OPTION MAY 23, 2003 @ .54 EUR PUT USD CALL FX EUROPEAN STYLE OPTION FEB 19, 2004 @ 1.16 KNOCK OUT @ 1.1825 Issued in USD May 27May 29 Write Option ZAR PUT USD CALL FX EUROPEAN STYLE OPTION FEB 25, 2004 @ 8.3 KNOCK OUT @ 7.80 USD - 49,800,000 3.80 228,000.00 USD EUR 20,000,000 5,000,000 0.00 0.00 130,680.00 75,572.50 130,680.00 S 75,572.50 S USD USD 14,300,000 - 5,000,000 1.303 0.00 75,572.50 58,000.00 58,000.00 S Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost EFTA01552863 Gain/Loss USD USD EUR - 27,400,000 111,798.00 15,000,000 0.00 - 80,400.00 319,275.00 31,398.00 S 319,275.00 S EFTA01552864 05 Trade Date Pending May 28Jun 2 Buy-Back Opt NOK CALL USD PUT FX EUROPEAN STYLE OPTION JUN 10, 2003 @ 7. May 29Jun 2 Buy-Back Opt NOK CALL USD PUT FX EUROPEAN STYLE OPTION DEC 11, 2003 @ 7.15 May 29Jun 3 write Option NZD PUT USD CALL FX EUROPEAN STYLE OPTION FEB 27, 2004 @ .57 KNOCK OUT @ .5825 May 29Jun 3 Write Option NZD PUT USD CALL FX EUROPEAN STYLE OPTION FEB 27, 2004 @ .57 KNOCK OUT @ .585 May 29Jun 3 Write Option NZD PUT USD CALL FX EUROPEAN STYLE OPTION FEB 27, 2004 @ .57 KNOCK OUT @ .5865 Trade Date Settlement Date Counter Currency Settled Foreign Exchange Contracts SPECULATIVE EURO CURRENCY - U S DOLLAR NORWEGIAN KRONE - U S DOLLAR Apr 29 03 May 2 03 EUR - 5,000,000.00 USD 5,499,000.00 Apr 28 03 May 15 03 NOK - 70,470,000.00 USD 10,000,000.00 May 15 03 May 15 03 NOK 39,588,750.00 USD - 5,762,554.59 1.099800 7.047000 6.870000 1.115700 6.852300 6.870000 5,499,000.00 - 5,578,500.00 10,000,000.00 - 10,284,138.17 - 5,762,554.59 - 79,500.00 - 284,138.17 5,762,554.59 Amount Currency Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD USD - 10,000,000 2.06 117,420.00 USD - 10,000,000 1.73 98,610.00 USD - 20,000,000 1.69 192,660.00 USD 50,050,000 EFTA01552865 0.00 - 463,900.00 114,800.07 - 349,099.93 S USD 70,000,000 0.00 - 440,800.00 80,000.00 - 360,800.00 S JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 23 of 41 Estimated Settlement Date Realized Gain/Loss Type Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost USD EFTA01552866 05 Date JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 24 of 41 Settled Foreign Exchange Contracts Trade Settlement Date Currency Counter Amount Currency continued May 15 03 May 15 03 NOK 30,881,250.00 USD - 4,500,000.00 May 15 03 May 19 03 NOK - 39,588,750.00 USD May 15 03 May 19 03 NOK 39,588,750.00 USD - 5,762,554.59 5,759,536.48 6.862500 6.873600 6.870000 6.862500 6.870000 6.870000 - 4,500,000.00 5,759,536.48 - 5,762,554.59 4,500,000.00 - 5,762,554.59 5,762,554.59 - 3,018.11 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD EFTA01552867 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 25 of 41 Account Transactions by Currency Euro Currency Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Miscellaneous Disbursements Foreign Exchange Ending Balance Euro Currency Activity by Date Settlement Date May 2 Type Spot FX Quantity Description 5,499,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL EUR SPOT RATE : 1.099800000 TRADE 4/29/03 VALUE 5/02/03 U S DOLLAR EURO PRINCIPAL CURRENCY May 2 Spot FX - 5,578,500 SPOT CURRENCY TRANSACTION - BUY BUY EUR SELL USD SPOT RATE : 1.115700000 TRADE 4/30/03 VALUE 5/02/03 EURO PRINCIPAL CURRENCY U S DOLLAR 5,000,000.00 5,578,500.00 .00 5,000,000.00 278,254,389.97 - .53 - 5,000,000.00 .00 - 278,254,389.44 Amount to Date Realized Amount Gain/Loss USD - 5,000,000.00 - 5,499,000.00 Amount USD EFTA01552868 05 JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 26 of 41 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 May 15 Fwd FX Ctrct Quantity Description 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NOK CONTRACT RATE : 7.047000000 TRADE 4/28/03 VALUE 5/15/03 May 15 spot FX - 5,762,554.59 SPOT CURRENCY TRANSACTION - BUY BUY NOK SELL USD SPOT RATE : 6.870000000 TRADE 5/15/03 VALUE 5/15/03 NORWEGIAN KRONE U S DOLLAR - 110,058,750.00 .00 21,583.58 - 1,432,089,954.0 110,058,750.00 1,915,704.00 73,684,296.00 4.16 1,353,109,245.84 .00 Amount to Date Realized Amount Gain/Loss USD 21,583.58 - 70,470,000.00 - 10,284,138.17 Amount USD 39,588,750.00 5,762,554.59 EFTA01552869 05 Date JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 27 of 41 Norwegian Krone Activity by Date Settlement continued Realized Type May 15 Spot FX Quantity Description - 4,500,000 SPOT CURRENCY TRANSACTION - BUY BUY NOK SELL USD SPOT RATE : 6.862500000 TRADE 5/15/03 VALUE 5/15/03 NORWEGIAN KRONE U S DOLLAR May 19 Spot FX 5,759,536.48 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NOK SPOT RATE : 6.873600000 TRADE 5/15/03 VALUE 5/19/03 U S DOLLAR NORWEGIAN KRONE May 19 Spot FX - 5,762,554.59 SPOT CURRENCY TRANSACTION - BUY BUY NOK SELL USD SPOT RATE : 6.870000000 TRADE 5/15/03 VALUE 5/19/03 NORWEGIAN KRONE U S DOLLAR 39,588,750.00 5,762,554.59 Gain/Loss USD 30,881,250.00 4,500,000.00 Amount Amount USD - 39,588,750.00 - 5,759,536.48 EFTA01552870 05 JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 28 of 41 Account Transactions by Currency U S Dollar Activity Summary Amount this Period USD Beginning Balance Credits Dividends Sweep Account Sales Sales, Maturities, Redemptions Miscellaneous Receipts Foreign Exchange Debits Sweep Account Purchases Purchases of Securities Miscellaneous Disbursements Foreign Exchange Ending Balance - 1,276,051.94 - 2,878,769.00 - 4,500,000.00 - 21,603,609.18 .00 *Year to date information is calculated on a calendar year basis. - 56,035,409.84 - 8,528,212.24 - 28,000,000.00 - 541,318,045.97 90,795.14 5,171,644.00 3,737,454.50 21,258,536.48 466,686.11 33,436,048.34 43,069,851.06 8,023,013.70 549,131,568.84 .00 Amount Year to Date USD* U S Dollar Activity by Date Type Settlement Date May 1 Dividend Quantity Description JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) Amount USD 90,795.14 EFTA01552871 05 Settlement Date May 1 May 2 JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 29 of 41 U S Dollar Activity by Date Type continued Quantity Description Purchase Spot FX 90,795.14 - 5,000,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SPOT CURRENCY TRANSACTION - SALE BUY USD SELL EUR SPOT RATE : 1.099800000 TRADE 4/29/03 VALUE 5/02/03 U S DOLLAR May 2 Buy-Back Opt 35,750,000 EURO PRINCIPAL CURRENCY NOK CALL USD PUT FX EUROPEAN STYLE OPTION DEC 11, 2003 @ 7.15 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 04/29/03 May 2 Write Option - 35,500,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION OCT 30, 2003 @ 7.1 KNOCK-IN @ 7.55 WRITTEN FX OPTION PUT 35,500,000.00 NOK CALL 5,000,000.00 USD TRADE DATE 04/29/03 May 2 Buy-Back Opt 57,200,000 NOK CALL USD PUT FX EUROPEAN STYLE OPTION DEC 11, 2003 @ 7.15 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 04/29/03 - 240,156.00 164,775.00 Amount USD - 90,795.14 5,499,000.00 - 148,113.00 EFTA01552872 05 Settlement Date May 2 JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 30 of 41 U S Dollar Activity by Date Type continued Quantity Description Write Option - 56,800,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION OCT 30, 2003 @ 7.1 KNOCK-IN @ 7.55 WRITTEN FX OPTION PUT 56,800,000.00 NOK CALL 8,000,000.00 USD TRADE DATE 04/29/03 May 2 Spot FX 5,000,000 SPOT CURRENCY TRANSACTION - BUY BUY EUR SELL USD SPOT RATE : 1.115700000 TRADE 4/30/03 VALUE 5/02/03 EURO PRINCIPAL CURRENCY U S DOLLAR May 2 May 5 Sale Sell Option - 40,794 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) - 52,500,000 NOK CALL USD PUT FX EUROPEAN STYLE OPTION DEC 11, 2003 @ 7. RESALE OF PURCHASED FX OPTION TRADE DATE 05/01/03 May 5 Write Option - 20,000,000 NZD PUT USD CALL FX EUROPEAN STYLE OPTION FEB 03, 2004 @ .55 KNOCK IN @ .54 KNOCK OUT @ .5730 WRITTEN FX OPTION PUT 20,000,000.00 NZD CALL 11,000,000.00 USD TRADE DATE 05/01/03 165,440.00 - 5,578,500.00 Amount USD 262,200.00 40,794.00 184,550.00 EFTA01552873 05 Settlement Date May 5 JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 31 of 41 U S Dollar Activity by Date Type continued Quantity Description Buy-Back Opt 94,500,000 NOK CALL USD PUT FX EUROPEAN STYLE OPTION MAY 13, 2003 @ 7. REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/01/03 May 5 Buy-Back Opt 56,000,000 NOK CALL USD PUT FX EUROPEAN STYLE OPTION MAY 13, 2003 @ 7. REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/01/03 May 5 Write Option - 47,587,500 NOK PUT USD CALL FX EUROPEAN STYLE OPTION NOV 03, 2003 @ 7.05 KNOCK IN @ 7.15 KNOCK OUT @ 6.85 WRITTEN FX OPTION PUT 47,587,500.00 NOK CALL 6,750,000.00 USD TRADE DATE 05/01/03 May 5 Write Option - 95,175,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION NOV 03, 2003 @ 7.05 KNOCK IN @ 7.15 KNOCK OUT @ 6.85 WRITTEN FX OPTION PUT 95,175,000.00 NOK CALL 13,500,000.00 USD TRADE DATE 05/01/03 May 5 Purchase 349,990 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) - 349,990.00 166,000.00 92,000.00 - 92,000.00 Amount USD - 166,000.00 EFTA01552874 05 Settlement Date May 6 JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 32 of 41 U S Dollar Activity by Date Type continued Quantity Description Buy-Back Opt 38,500,000 NOK CALL USD PUT FX EUROPEAN STYLE OPTION MAY 13, 2003 @ 7. REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/02/03 May 6 Write Option - 49,700,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION FEB 04, 2004 @ 7.1 KNOCK IN @ 7.40 KNOCK OUT @ 6.90 WRITTEN FX OPTION PUT 49,700,000.00 NOK CALL 7,000,000.00 USD TRADE DATE 05/02/03 May 6 May 8 May 8 Purchase Sale Misc. Disbursement 52,090 - 1,500,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) FUNDS TRANSFERRED FROM BRKRG AC# Q30171005 (PRN) TO DDA AC# 000739110438 LETTER FROM CLIENT - 52,090.00 1,500,000.00 - 1,500,000.00 97,090.00 Amount USD - 45,000.00 EFTA01552875 05 Settlement Date JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 33 of 41 U S Dollar Activity by Date Type continued Quantity Description May 12 Write Option - 20,000,000 NZD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 06, 2003 @ .56 KNOCK IN @ .53 WRITTEN FX OPTION PUT 20,000,000.00 NZD CALL 11,200,000.00 USD TRADE DATE 05/07/03 May 12 Write Option - 112,500,000 ZAR PUT USD CALL FX EUROPEAN STYLE OPTION FEB 10, 2004 @ 7.5 KNOCK OUT @ 7.03 WRITTEN FX OPTION PUT 112,500,000.00 ZAR CALL 15,000,000.00 USD TRADE DATE 05/08/03 May 12 Buy-Back Opt 40,000,000 EUR CALL GBP PUT FX EUROPEAN STYLE OPTION JAN 15, 2004 @ .69 KNOCK OUT @ .6750 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 05/08/03 May 12 Sell Option - 20,000,000 NZD CALL USD PUT FX EUROPEAN STYLE OPTION MAY 23, 2003 @ .56 RESALE OF PURCHASED FX OPTION TRADE DATE 05/08/03 May 12 Sale - 1,021,600 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) 1,021,600.00 263,200.00 - 2,187,500.00 583,500.00 Amount USD 319,200.00 EFTA01552876 05 Settlement Date JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 34 of 41 U S Dollar Activity by Date Type continued Quantity Description May 14 Write Option - 102,000,000 NOK CALL USD PUT FX EUROPEAN STYLE OPTION MAY 15, 2003 @ 6.8 WRITTEN FX OPTION CALL 102,000,000.00 NOK PUT 15,000,000.00 USD TRADE DATE 05/12/03 May 14 Write Option - 68,700,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION MAY 15, 2003 @ 6.87 WRITTEN FX OPTION PUT 68,700,000.00 NOK CALL 10,000,000.00 USD TRADE DATE 05/12/03 May 14 Purchase May 15 Fwd FX Ctrct 64,000 - 70,470,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NOK CONTRACT RATE : 7.047000000 TRADE 4/28/03 VALUE 5/15/03 May 15 Write Option - 15,000,000 EUR PUT USD CALL FX EUROPEAN STYLE OPTION FEB 13, 2004 @ 1.15 KNOCK IN @ 1.10 KNOCK OUT @ 1.1795 WRITTEN FX OPTION PUT 15,000,000.00 EUR CALL 17,250,000.00 USD TRADE DATE 05/13/03 - 64,000.00 10,000,000.00 20,000.00 Amount USD 44,000.00 319,275.00 EFTA01552877 05 Settlement Date JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 35 of 41 U S Dollar Activity by Date Type continued Quantity Description May 15 Purchase May 15 Spot FX 56,720.41 39,588,750 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SPOT CURRENCY TRANSACTION - BUY BUY NOK SELL USD SPOT RATE : 6.870000000 TRADE 5/15/03 VALUE 5/15/03 NORWEGIAN KRONE U S DOLLAR May 15 Spot FX 30,881,250 SPOT CURRENCY TRANSACTION - BUY BUY NOK SELL USD SPOT RATE : 6.862500000 TRADE 5/15/03 VALUE 5/15/03 NORWEGIAN KRONE U S DOLLAR May 16 Write Option - 1,160,000,000 JPY PUT USD CALL FX EUROPEAN STYLE OPTION FEB 13, 2004 @ 116 KNOCK OUT @ 112 WRITTEN FX OPTION PUT 1,160,000,000.00 JPY CALL 10,000,000.00 USD TRADE DATE 05/14/03 May 16 Sale May 16 Misc. Disbursement - 837,250 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) FUNDS TRANSFERRED FROM BRKRG AC# Q30171005 (PRN) TO DDA AC# 000739110438 LETTER FROM CLIENT 837,250.00 - 1,000,000.00 Amount USD - 56,720.41 - 5,762,554.59 - 4,500,000.00 162,750.00 EFTA01552878 05 Settlement Date JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio May 01, 2003 - May 31, 2003 Page 36 of 41 U S Dollar Activity by Date Type continued Quantity Description May 19 Spot FX - 39,588,750 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NOK SPOT RATE : 6.873600000 TRADE 5/15/03 VALUE 5/19/03 U S DOLLAR NORWEGIAN KRONE May 19 Spot FX 39,588,750 SPOT CURRENCY TRANSACTION - BUY BUY NOK SELL USD SPOT RATE : 6.870000000 TRADE 5/15/03 VALUE 5/19/03 NORWEGIAN KRONE U S DOLLAR May 19 Sell Option - 13,500,000 CHF CALL USD PUT FX EUROPEAN STYLE OPTION JUN 26, 2003 @ 1.35 RESALE OF PURCHASED FX OPTION TRADE DATE 05/15/03 May 19 Write Option - 1,218,000,000 JPY PUT USD CALL FX EUROPEAN STYLE OPTION FEB 17, 2004 @ 116 KNOCK OUT @ 113 WRITTEN FX OPTION PUT 1,218,000,000.00 JPY CALL 10,500,000.00 USD TRADE DATE 05/15/03 May 19 Purchase May 22 Purchase 475,085.89 75,572.50 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) - 475,085.89 - 75,572.50 139,104.00 - 5,762,554.59 Amount USD 5,759,536.48 339,000.00 EFTA01552879 05 Settlement Date JPMorgan Chase Bank 2003 Account Number: Q 30171-00-5 FINANCIA