EFTA01552589.pdf

09 2002 Confidential FINANCIAL TRUST COMPANY INC Page 1 of 36 J.P. Morgan Portfolios September 1 - September 30, 2002 Table of Contents Page Account Summary Asset Account Portfolio Margin Account Portfolio JPMCB JPMSI 161121381 2 3 33 000000.0000.00.0000.000.000000000.000000 FINANCIAL TRUST COMPANY ATTN: JEFFREY E EPSTEIN C/O AMERICAN YACHT HARBOR 6100 RED HOOK, QUARTERS ►B3 ST THOMAS 00802 US VIRGIN ISLDS EFTA01552589 09 2002 Portfolio Summary FINANCIAL TRUST COMPANY INC September 01, 2002 - September 30, 2002 Page 2 of 36 Portfolio Summary Net Worth Summary Asset Portfolio USD Assets(Long) Cash S Short Term Equities Options Liabilities (Short) Total Options FX Gain/Loss Accrued Income Total Net Worth Income Summary Dividends Total 78,138,031.73 59,278,871.90 18,625,815.84 233,343.99 - 3,037,518.11 - 3,037,518.11 75,100,513.62 99,853.14 78,733.64 75,279,100.40 Margin Portfolio USD 161121381 0.00 0.00 0.00 0.00 0.00 0.00 0.00 .00 0.00 0.00 78,138,031.73 59,278,871.90 18,625,815.84 233,343.99 - 3,037,518.11 - 3,037,518.11 75,100,513.62 99,853.14 78,733.64 75,279,100.40 This Period 81,334.03 81,334.03 Year to Date 209,754.97 209,754.97 JPMorgan provides this Portfolio Summary for informational purposes. This summary includes informati on about assets held at JPMCB and JPMSI in accounts listed on the front page. Securities are not bank deposits or FDIC insured, are not obligations of or guaranteed by JPMCB or a ny of its bank of thrift affiliates (unless otherwise indicated), and are subject to investment risks, including possible loss of the pr incipal amount invested. Assets held in custody by JPMCB are not protected under the Securities Investor Protection Corporati on ("SIPC") insurance. Total USD EFTA01552590 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 3 of 36 Asset Account Portfolio September 1 - September 30, 2002 Table of Contents Portfolio Summary Cash and Short Term Equities Options Outstanding Foreign Exchange Contracts Trade Activity Account Transactions Account Officers Service Specialist: MANNINO/DORAZIO Page 4 6 8 9 13 14 17 EFTA01552591 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 4 of 36 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 76% Cash and Short Term 24% Equities Market Value USD Sep 30 Cash S Short Term Equities Options Total Foreign Exchange Accrued Income Total Portfolio Value 59,278,871.90 18,625,815.84 - 2,804,174.12 75,100,513.62 99,853.14 78,733.64 75,279,100.40 Income Summary Dividends Total Net Gain/Loss Summary Net Short Term Gain/Loss Total Market Value USD Aug 31 57,944,128.41 18,889,841.58 - 3,642,043.40 73,191,926.59 218,837.61 81,334.03 73,492,098.23 Tax Cost USD 59,278,871.90 - 4,380,958.41 54,897,913.49 Estimated Annual Income USD 982,215.22 982,215.22 Yield 1.7 0.0 N/A N/A 1.3 This Period USD 81,334.03 81,334.03 Year to Date USD* 209,754.97 209,754.97 Realized This Period USD Realized Year to Date USD* 1,679,332.67 1,679,332.67 *Year to date information is calculated on a calendar year basis. Exchange Rates EFTA01552592 Spot Rates as of September 30, 2002 Market value of Options is not included in pie chart. Currency CHF GBP HKD 'WY Exchange Rate 1.4732 1.5726 7.7996 121.7400 10,203,258.19 10,203,258.19 Unrealized USD 1,576,784.53 1,576,784.53 EFTA01552593 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 5 of 36 Exchange Rates Spot Rates as of September 30, 2002 Currency MXN NOK SEK Exchange Rate 10.2295 7.4108 9.2725 EFTA01552594 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 6 of 36 Cash and Short Term Summary by Maturity Current Market Value USD Cash Less Than 3 Months Total 10,010,035.12 49,268,836.78 59,278,871.90 Estimated Annual Income USD 144,645.00 837,570.22 982,215.22 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 PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) (SWEEP DEADLINE IS 4:30 PM EST) 7-Day Annualized Yield: 1.45% POUND STERLING Total Cash USD 10,010,034.73 1.00 1.00 10,010,034.73 10,010,034.73 10,668.41 GBP 0.25 1.56 1.5726 0.39 10,010,035.12 0.39 10,010,035.12 10,668.41 144,645.00 1.45 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 N/A 144,645.00 1.44 EFTA01552595 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 7 of 36 Cash and Short Term by Type Description Cusip/S&P/Moody's Rating Short Term by Maturity J P MORGAN PRIME MONEY MARKET FUND INSTITUTIONAL SHARES CLASS (FUND 829) 7-Day Annualized Yield: 1.69% 62826N-77-0 Total Cash and Short Term 59,278,871.90 59,278,871.90 78,733.64 0.00 982,215.22 1.66 USD 49,268,836.78 1.00 1.00 49,268,836.78 49,268,836.78 68,065.23 837,570.22 1.70 continued CurrenCy/ Account Type Quantity Unit Cost Adjusted Original Market Price Tax Cost Adjusted Original Current Market Value USD Accrued Interest USD Unrealized Gain/Loss USD Estimated Current Annual Yield/ Income USD YTM t EFTA01552596 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 8 of 36 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 23.28 18,625,815.84 18,625,815.84 N/A 0.00 N/A 0.0 EFTA01552597 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 9 of 36 Options Foreign Exchange Description Cusip NOK PUT USD CALL FX EUROPEAN STYLE OPTION MAR 10, 2003 8 7.75 XNOKPA-AZ-Z NOK PUT USD CALL FX EUROPEAN STYLE OPTION DEC 18, 2002 8 7.9 XNOKPA-BU-Z SEK PUT USD CALL FX EUROPEAN STYLE OPTION DEC 20, 2002 8 9.21 XSEKPA-BL-Z NOK PUT USD CALL FX EUROPEAN STYLE OPTION DEC 20, 2002 8 7.62 XNOKPA-BH-Z CHF PUT USD CALL FX EUROPEAN STYLE OPTION JAN 07, 2003 8 1.495 XCHFPA-CA-2 NOK PUT USD CALL FX EUROPEAN STYLE OPTION JAN 07, 2003 8 7.515 XNOKPA-BS-Z NOK - 127,755,000 USD - 17,000,000.00 USD - 781,090.00 - 781,090.00 - 359,793.85 421,296.15 CHF - 17,940,000 USD - 12,000,000.00 USD - 380,534.12 - 380,534.12 - 170,295.09 210,239.03 NOK - 129,540,000 USD - 17,000,000.00 USD - 750,880.00 - 750,880.00 - 203,752.17 547,127.83 SEK - 18,420,000 USD - 2,000,000.00 USD - 97,100.00 - 97,100.00 - 53,718.43 43,381.57 NOK - 158,000,000 USD - 20,000,000.00 USD - 632,000.00 - 632,000.00 - 63,858.86 568,141.14 Counter Amount Currency Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD NOK - 38,750,000 USD - 5,000,000.00 USD - 314,600.00 - 314,600.00 - 88,939.78 225,660.22 EFTA01552598 EFTA01552599 09 Cusip JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 10 of 36 Foreign Exchange Description NOK PUT USD CALL FX EUROPEAN STYLE OPTION JAN 15, 2003 @ 7.35 KNOCK OUT @ 7.22 XMOKPA-BX-2 NOK CALL USD PUT FX AMERICAN STYLE OPTION JAN 15, 2003 @ 7. XNOKCA-AT-2 JPY PUT USD CALL FX EUROPEAN STYLE OPTION OCT 28, 2002 @ 125. XJPYPA-IW-2 SEK PUT USD CALL FX EUROPEAN STYLE OPTION DEC 20, 2002 @ 9.65 XSEKPA-BU-2 NOK PUT USD CALL FX EUROPEAN STYLE OPTION MAR 19, 2003 @ 7.54 XNOKPA-CL-2 MXN PUT USD CALL FX EUROPEAN STYLE OPTION OCT 14, 2002 @ 10.05 XMXNPA-AJ-2 SEK PUT USD CALL FX EUROPEAN STYLE OPTION FEB 07, 2003 @ 9.3 XSEKPA-BV-Z SEK - 186,000,000 USD - 20,000,000.00 USD - 503,500.00 - 503,500.00 - 574,780.92 - 71,280.92 MXN - 100,500,000 USD - 10,000,000.00 USD - 114,500.00 - 114,500.00 - 226,720.97 - 112,220.97 NOK - 94,250,000 USD - 12,500,000.00 USD - 612,000.00 - 612,000.00 - 397,728.40 214,271.60 SEK - 72,375,000 USD - 7,500,000.00 USD - 202,500.00 - 202,500.00 - 57,069.86 145,430.14 JPY 875,000,000 USD 7,000,000.00 USD 32,390.00 32,390.00 19,040.00 - 13,350.00 NOK 175,000,000 USD 25,000,000.00 USD 319,697.00 319,697.00 86,471.00 - 233,226.00 Counter Amount Currency continued NOK - 91,875,000 USD - 12,500,000.00 USD - 209,634.50 - 209,634.50 EFTA01552600 - 343,866.08 - 134,231.58 Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01552601 09 Cusip JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 11 of 36 Foreign Exchange Description P CHF CALL USD PUT FX EUROPEAN STYLE OPTION OCT 24, 2002 8 1.48 XCHFCA-CF-2 HKD PUT USD CALL FX EUROPEAN STYLE OPTION SEP 23, 2004 8 7.833 XHECDPA-AH-2 HKD CALL USD PUT FX EUROPEAN STYLE OPTION SEP 23, 2004 8 7.8 XHKDCA-AC-2 P CHF PUT USD CALL FX EUROPEAN STYLE OPTION NOV 21, 2002 9 1.48 XCHFPA-CJ-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. - 4,380,958.41 - 2,804,174.12 1,576,784.53 CHF - 22,807,000 USD - 15,410,135.14 USD - 208,037.00 - 208,037.00 0.00 208,037.00 HKD - 156,000,000 USD - 20,000,000.00 USD - 127,575.00 - 127,575.00 - 83,366.40 44,208.60 HKD 156,660,000 USD 20,000,000.00 USD 312,280.00 312,280.00 127,832.99 - 184,447.01 Counter Amount Currency Continued CHF - 22,000,000 USD - 14,864,864.86 USD - 111,374.79 - 111,374.79 - 413,627.30 - 302,252.51 Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01552602 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 12 of 36 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. EFTA01552603 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 13 of 36 Outstanding Foreign Exchange Contracts Net Currency Exposure Summary Swiss Franc Norwegian Krone U S Dollar Value in Currency 44,807,000.00 77,000,000.00 - 40,689,804.28 Gain/Loss Summary Total Unrealized Open Total Unrealized Gain/Loss Value in USD 99,853.14 99,853.14 Foreign Exchange Contracts Settlement Date Trade Date SPECULATIVE SWISS FRANC - U S DOLLAR Sep. 23 02 Oct. 24 02 CHF 44,807,000.00 USD NORWEGIAN KRONE - U S DOLLAR Sep. 23 02 Oct. 24 02 NOK Total Foreign Exchange Contracts 77,000,000.00 USD - 30,439,538.04 - 10,250,266.24 1.472 7.512 1.471996 7.439588 30,439,622.50 10,350,034.92 40,789,657.42 30,439,538.04 10,250,266.24 40,689,804.28 84.46 99,768.68 99,853.14 Currency Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD EFTA01552604 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 14 of 36 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 Aug 30 Sep 3 Purchase Sep 12 Sep 17 Write Option Sep 20 Sep 24 Buy-Back Opt Sep 20 Sep 24 Write Option Sep 23 Sep 25 Write Option J P MORGAN PRIME MONEY MARKET FUND INSTITUTIONAL SHARES CLASS (FUND 829) MXN PUT USD CALL FX EUROPEAN STYLE OPTION OCT 14, 2002 8 10.05 SEK PUT USD CALL FX EUROPEAN STYLE OPTION JAN 07, 2003 8 9.21 SEK PUT USD CALL FX EUROPEAN STYLE OPTION FEB 07, 2003 8 9.3 CHF CALL USD PUT FX EUROPEAN STYLE OPTION OCT 24, 2002 8 1.48 USD USD USD USD USD 70,669.77 - 100,500,000 156,570,000 - 186,000,000 - 44,807,000 2.52 0.75 1.00 1.15 - 70,669.77 114,500.00 - 473,500.00 503,500.00 226,835.00 696,630.00 223,130.00 S Realized Type Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD Amount USD 1,656,984.26 0.00 EFTA01552605 09 Trade Date JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 15 of 36 Settlement Date Realized Type Settled continued Sep 25 Sep 27 Write Option Sep 25 Sep 27 Purchase Opt Sep 25 Sep 27 Buy-Back Opt HKD CALL USD PUT FX EUROPEAN STYLE OPTION SEP 23, 2004 9 7.8 HKD PUT USD CALL FX EUROPEAN STYLE OPTION SEP 23, 2004 9 7.833 NOK PUT USD CALL FX EUROPEAN STYLE OPTION NOV 14, 2002 9 8.6 Trade Date Estimated Settlement Date Pending Sep 30 Oct 2 Buy-Back Opt CHF CALL USD PUT FX EUROPEAN STYLE OPTION OCT 24, 2002 9 1.48 Sep 30 Oct 2 write Option CHF PUT USD CALL FX EUROPEAN STYLE OPTION NOV 21, 2002 8 1.48 Trade Date Settlement Date Counter Currency Settled Foreign Exchange Contracts SPECULATIVE SWISS FRANC Jun 21 02 Sep 25 02 Sep 25 02 Sep 25 02 Jul 22 02 Jul 26 02 - U S DOLLAR CHF 15,120,000.00 USD - 10,000,000.00 CHF 44,327,000.00 USD - 30,517,728.06 CHF - 14,640,000.00 USD 10,000,000.00 1.512000 1.452500 1.464000 1.495400 1.495400 1.495400 - 10,000,000.00 - 30,517,728.06 10,000,000.00 10,111,007.08 29,642,236.19 - 9,790,022.73 111,007.08 - 875,491.87 209,977.27 Amount Currency Counter Amount Contract Rate Revaluation EFTA01552606 Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD USD - 22,807,000 1.35 208,037.00 USD 22,807,000 0.00 - 208,037.00 115,460.21 - 92,576.79 S Realized Gain/Loss Type Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost USD USD USD USD - 156,000,000 156,660,000 189,200,000 0.64 1.56 127,575.00 - 312,280.00 - 4,200.00 482,000.00 477,800.00 S Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD EFTA01552607 09 Date JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 16 of 36 Settled Foreign Exchange Contracts Trade Settlement Date Currency Sep 23 02 Sep 25 02 POUND STERLING - U S DOLLAR Jun 20 02 Sep 24 02 Sep 24 02 Sep 24 02 Sep 25 02 Jul 12 02 Jul 26 02 Jul 11 02 Sep 24 02 Sep 25 02 JAPANESE YEN Sep 13 02 Sep 25 02 Sep 24 02 Sep 25 02 Counter Amount Currency continued CHF - 44,807,000.00 USD 30,398,236.09 GBP 10,000,000.00 USD - 14,925,000.00 GBP - 5,000,000.00 USD GBP - 5,000,000.00 USD 1.474000 7,697,500.00 7,775,000.00 GBP 10,000,000.00 USD - 15,534,000.00 GBP - 10,000,000.00 USD 15,560,000.00 - NORWEGIAN KRONE JPY - 604,500,000.00 NOK 37,500,000.00 JPY 604,500,000.00 NOK - 36,636,363.64 NORWEGIAN KRONE - U S DOLLAR Jun 21 02 Sep 25 02 Sep 25 02 Jul 30 02 Sep 18 02 Sep 25 02 Sep 23 02 Sep 25 02 Sep 24 02 Sep 25 02 16.120000 16.500000 122.795000 7.483450 123.355000 7.483450 NOK 76,950,000.00 USD - 10,000,000.00 NOK 76,625,000.00 USD - 10,000,000.00 NOK - 76,575,000.00 USD 10,152,469.34 NOK - 77,000,000.00 USD 10,280,373.83 NOK - 863,636.36 USD SWEDISH KRONA - U S DOLLAR Jun 21 02 Sep 25 02 Sep 25 02 Jul 12 02 Sep 18 02 Sep 25 02 SEK 93,800,000.00 USD - 10,000,000.00 SEK 89,000,000.00 USD - 9,495,865.56 SEK - 182,800,000.00 USD 19,564,403.06 115,590.76 7.695000 7.662500 7.542500 7.490000 7.471500 9.380000 9.372500 9.343500 EFTA01552608 7.483450 7.483450 7.483450 7.483450 7.483450 9.331600 9.331600 9.331600 - 4,922,838.87 4,900,490.45 5,011,057.73 - 4,895,651.55 88,218.86 4,838.90 1.492500 1.539500 1.555000 1.553400 1.556000 1.495400 1.557100 1.557100 1.557100 1.561100 1.561100 30,398,236.09 - 29,963,220.54 - 14,925,000.00 7,697,500.00 7,775,000.00 - 15,534,000.00 15,571,000.01 - 7,785,500.00 - 7,785,500.00 15,611,000.10 15,560,000.00 - 15,611,000.10 435,015.55 646,000.01 - 88,000.00 - 10,500.00 77,000.10 - 51,000.10 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD - 10,000,000.00 - 10,000,000.00 10,282,690.47 10,239,261.30 10,152,469.34 - 10,232,579.89 10,280,373.83 - 10,289,371.88 115,590.76 - 10,000,000.00 - 9,495,865.56 - 115,406.18 10,051,866.77 9,537,485.53 19,564,403.06 - 19,589,352.30 282,690.47 239,261.30 - 80,110.55 - 8,998.05 184.58 51,866.77 41,619.97 - 24,949.24 EFTA01552609 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 17 of 36 Account Transactions by Currency Japanese Yen Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Foreign Exchange Ending Balance Foreign Exchange Gains/Losses Japanese Yen Activity by Date Settlement Date Type Sep 25 Fwd FX Ctrct Quantity Description 37,500,000 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL JPY CONTRACT RATE : 16.120000000 TRADE 9/13/02 VALUE 9/25/02 Sep 25 Spot FX - 36,636,363.64 SPOT CURRENCY TRANSACTION - BUY BUY JPY SELL NOK SPOT RATE : 123.355000000 TRADE 9/24/02 VALUE 9/25/02 JAPANESE YEN NORWEGIAN KRONE .00 604,500,000.00 - 604,500,000.00 .00 22,348.42 604,500,000.00 - 604,500,000.00 Amount to Date Realized Amount Gain/Loss USD 22,348.42 - 604,500,000.00 - 4,922,838.87 Amount USD 604,500,000.00 4,900,490.45 EFTA01552610 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 18 of 36 Account Transactions by Currency Norwegian Krone Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Foreign Exchange Ending Balance Norwegian Krone Activity by Date Settlement Date Type Sep 25 Fwd FX Ctrct Quantity Description - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 7.695000000 TRADE 6/21/02 VALUE 9/25/02 Sep 25 Fwd FX Ctrct - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 7.662500000 TRADE 7/30/02 VALUE 9/25/02 Sep 25 Fwd FX Ctrct - 604,500,000 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL JPY CONTRACT RATE : 16.120000000 TRADE 9/13/02 VALUE 9/25/02 .00 191,075,000.00 - 191,075,000.00 .00 663,240,580.00 - 663,240,580.00 Amount to Date Realized Amount Gain/Loss USD 76,950,000.00 10,282,690.47 Amount USD 76,625,000.00 10,239,261.30 37,500,000.00 5,011,057.73 EFTA01552611 09 Date JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 19 of 36 Norwegian Krone Activity by Date Settlement continued Realized Type Sep 25 Fwd FX Ctrct Quantity Description 10,152,469.34 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NOK CONTRACT RATE : 7.542500000 TRADE 9/18/02 VALUE 9/25/02 Sep 25 Spot FX 10,280,373.83 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NOK SPOT RATE : 7.490000000 TRADE 9/23/02 VALUE 9/25/02 U S DOLLAR NORWEGIAN KRONE Sep 25 Spot FX 115,590.76 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NOK SPOT RATE : 7.471500000 TRADE 9/24/02 VALUE 9/25/02 U S DOLLAR NORWEGIAN KRONE Sep 25 Spot FX 604,500,000 SPOT CURRENCY TRANSACTION - SALE BUY JPY SELL NOK SPOT RATE : 7.476060613 TRADE 9/24/02 VALUE 9/25/02 JAPANESE YEN NORWEGIAN KRONE - 36,636,363.64 - 4,900,490.45 - 863,636.36 - 115,590.76 Gain/Loss USD - 76,575,000.00 - 10,232,579.89 Amount Amount USD - 77,000,000.00 - 10,280,373.83 EFTA01552612 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 20 of 36 Account Transactions by Currency Pound Sterling Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Foreign Exchange Ending Balance Foreign Exchange Gains/Losses Pound Sterling Activity by Date Settlement Date Type Sep 24 Fwd FX Ctrct Quantity Description - 14,925,000 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.492500000 TRADE 6/20/02 VALUE 9/24/02 Sep 24 Fwd FX Ctrct 7,697,500 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.539500000 TRADE 7/12/02 VALUE 9/24/02 Sep 24 Fwd FX Ctrct 7,775,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.555000000 TRADE 7/26/02 VALUE 9/24/02 - 0.01 .25 20,000,000.00 - 20,000,000.00 .25 - .01 69,063,079.25 - 69,063,079.00 Amount to Date Realized Amount Gain/Loss USD 10,000,000.00 15,571,000.01 Amount USD - 5,000,000.00 - 7,785,500.00 - 5,000,000.00 - 7,785,500.00 EFTA01552613 09 Date JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 21 of 36 Pound Sterling Activity by Date Settlement continued Realized Type Sep 25 Fwd FX Ctrct Quantity Description - 15,534,000 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.553400000 TRADE 7/11/02 VALUE 9/25/02 Sep 25 Spot FX 15,560,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL GBP SPOT RATE : 1.556000000 TRADE 9/24/02 VALUE 9/25/02 U S DOLLAR POUND STERLING Gain/Loss USD 10,000,000.00 15,611,000.10 Amount Amount USD - 10,000,000.00 - 15,560,000.00 EFTA01552614 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 22 of 36 Account Transactions by Currency Swedish Krona Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Foreign Exchange Ending Balance Swedish Krona Activity by Date Settlement Date Type Sep 25 Fwd FX Ctrct Quantity Description - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY SEK SELL USD CONTRACT RATE : 9.380000000 TRADE 6/21/02 VALUE 9/25/02 Sep 25 Fwd FX Ctrct - 9,495,865.56 SETTLE FORWARD CURRENCY CONTRACT BUY SEK SELL USD CONTRACT RATE : 9.372500000 TRADE 7/12/02 VALUE 9/25/02 Sep 25 Fwd FX Ctrct 19,564,403.06 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL SEX CONTRACT RATE : 9.343500000 TRADE 9/18/02 VALUE 9/25/02 .00 182,800,000.00 - 182,800,000.00 .00 595,715,760.00 - 595,715,760.00 Amount to Date Realized Amount Gain/Loss USD 93,800,000.00 10,051,866.77 Amount USD 89,000,000.00 9,537,485.53 - 182,800,000.00 - 19,589,352.30 EFTA01552615 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 23 of 36 Account Transactions by Currency Swiss Franc Activity Summary Amount this Period Beginning Balance Credits Miscellaneous Receipts Foreign Exchange Debits Foreign Exchange Ending Balance Swiss Franc Activity by Date Settlement Date Type Sep 25 Fwd FX Ctrct Quantity Description - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.512000000 TRADE 6/21/02 VALUE 9/25/02 Sep 25 Fwd FX Ctrct - 30,517,728.06 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.452500000 TRADE 7/22/02 VALUE 9/25/02 Sep 25 Fwd FX Ctrct 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL CHF CONTRACT RATE : 1.464000000 TRADE 7/26/02 VALUE 9/25/02 - 59,447,000.00 -00 - 370,428,288.00 .50 59,447,000.00 370,428,287.50 .00 Amount to Date Realized Amount Gain/Loss USD 15,120,000.00 10,111,007.08 Amount USD 44,327,000.00 29,642,236.19 - 14,640,000.00 - 9,790,022.73 EFTA01552616 09 Date JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 24 of 36 Swiss Franc Activity by Date Settlement continued Realized Type Sep 25 Spot FX Quantity Description 30,398,236.09 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.474000000 TRADE 9/23/02 VALUE 9/25/02 U S DOLLAR SWISS FRANC Gain/Loss USD - 44,807,000.00 - 30,398,236.09 Amount Amount USD EFTA01552617 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 25 of 36 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 Foreign Exchange Ending Balance - 1,452,978.72 - 860,649.77 - 110,472,593.62 .00 *Year to date information is calculated on a calendar year basis. - 114,210,962.84 - 52,500,972.78 - 477,954,626.23 81,334.03 188,905.00 972,410.00 111,543,573.08 209,754.97 104,200,928.11 12,083,481.00 45,000,000.00 483,172,397.77 .00 Amount Year to Date USD* U S Dollar Activity by Date Type Settlement Date Sep 3 Sep 3 Dividend Dividend Quantity Description JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST J P MORGAN PRIME MONEY MARKET FUND INSTITUTIONAL SHARES CLASS (FUND 829) Amount USD 10,664.26 70,669.77 EFTA01552618 09 Settlement Date Sep 3 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 26 of 36 U S Dollar Activity by Date Type continued Quantity Description Purchase 70,669.77 J P MORGAN PRIME MONEY MARKET FUND INSTITUTIONAL SHARES CLASS (FUND 829) INCOME DIVIDEND REINVESTED @ $1.00 J.P.MORGAN SECURITIES INC AS AGENT TRADE DATE 08/30/02 Sep 3 Purchase Sep 17 Write Option 10,664.26 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST - 100,500,000 MXN PUT USD CALL FX EUROPEAN STYLE OPTION OCT 14, 2002 @ 10.05 WRITTEN FX OPTION PUT 100,500,000.00 MXN CALL 10,000,000.00 USD TRADE DATE 09/12/02 Sep 17 Purchase Sep 24 Fwd FX Ctrct 114,500 10,000,000 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.492500000 TRADE 6/20/02 VALUE 9/24/02 Sep 24 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.539500000 TRADE 7/12/02 VALUE 9/24/02 - 114,500.00 - 14,925,000.00 - 10,664.26 114,500.00 Amount USD - 70,669.77 7,697,500.00 EFTA01552619 09 Settlement Date JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 27 of 36 U S Dollar Activity by Date Type continued Quantity Description Sep 24 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.555000000 TRADE 7/26/02 VALUE 9/24/02 Sep 24 Buy-Back Opt 156,570,000 SEK PUT USD CALL FX EUROPEAN STYLE OPTION JAN 07, 2003 8 9.21 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 09/20/02 Sep 24 Write Option - 186,000,000 SEK PUT USD CALL FX EUROPEAN STYLE OPTION FEB 07, 2003 8 9.3 WRITTEN FX OPTION PUT 186,000,000.00 SEK CALL 20,000,000.00 USD TRADE DATE 09/20/02 Sep 24 Purchase Sep 25 Fwd FX Ctrct 577,500 76,950,000 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 7.695000000 TRADE 6/21/02 VALUE 9/25/02 Sep 25 Fwd FX Ctrct 93,800,000 SETTLE FORWARD CURRENCY CONTRACT BUY SEK SELL USD CONTRACT RATE : 9.380000000 TRADE 6/21/02 VALUE 9/25/02 - 577,500.00 - 10,000,000.00 503,500.00 Amount USD 7,775,000.00 - 473,500.00 - 10,000,000.00 EFTA01552620 09 Settlement Date JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 28 of 36 U S Dollar Activity by Date Type continued Quantity Description Sep 25 Fwd FX Ctrct 15,120,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.512000000 TRADE 6/21/02 VALUE 9/25/02 Sep 25 Fwd FX Ctrct 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.553400000 TRADE 7/11/02 VALUE 9/25/02 Sep 25 Fwd FX Ctrct 89,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY SEK SELL USD CONTRACT RATE : 9.372500000 TRADE 7/12/02 VALUE 9/25/02 Sep 25 Fwd FX Ctrct 44,327,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.452500000 TRADE 7/22/02 VALUE 9/25/02 Sep 25 Fwd FX Ctrct - 14,640,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL CHF CONTRACT RATE : 1.464000000 TRADE 7/26/02 VALUE 9/25/02 Sep 25 Fwd FX Ctrct 76,625,000 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 7.662500000 TRADE 7/30/02 VALUE 9/25/02 Sep 25 Fwd FX Ctrct - 76,575,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NOK CONTRACT RATE : 7.542500000 TRADE 9/18/02 VALUE 9/25/02 Amount USD - 10,000,000.00 - 15,534,000.00 - 9,495,865.56 - 30,517,728.06 10,000,000.00 - 10,000,000.00 10,152,469.34 EFTA01552621 09 Settlement Date JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 29 of 36 U S Dollar Activity by Date Type continued Quantity Description Sep 25 Fwd FX Ctrct - 182,800,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL SEX CONTRACT RATE : 9.343500000 TRADE 9/18/02 VALUE 9/25/02 Sep 25 Spot FX - 44,807,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.474000000 TRADE 9/23/02 VALUE 9/25/02 U S DOLLAR SWISS FRANC Sep 25 Spot FX - 77,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NOK SPOT RATE : 7.490000000 TRADE 9/23/02 VALUE 9/25/02 U S DOLLAR Sep 25 Write Option - 44,807,000 NORWEGIAN KRONE CHF CALL USD PUT FX EUROPEAN STYLE OPTION OCT 24, 2002 8 1.48 WRITTEN FX OPTION CALL 44,807,000.00 CHF PUT 30,275,000.00 USD TRADE DATE 09/23/02 Sep 25 Purchase 750,314.46 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST - 750,314.46 Amount USD 19,564,403.06 30,398,236.09 10,280,373.83 226,835.00 EFTA01552622 09 Settlement Date JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 30 of 36 U S Dollar Activity by Date Type continued Quantity Description Sep 25 Spot FX - 10,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL GBP SPOT RATE : 1.556000000 TRADE 9/24/02 VALUE 9/25/02 U S DOLLAR POUND STERLING Sep 25 Spot FX - 863,636.36 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NOK SPOT RATE : 7.471500000 TRADE 9/24/02 VALUE 9/25/02 U S DOLLAR Sep 27 Buy-Back Opt 189,200,000 NORWEGIAN KRONE NOK PUT USD CALL FX EUROPEAN STYLE OPTION NOV 14, 2002 8 8.6 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 09/25/02 Sep 27 Purchase Opt 156,660,000 HKD PUT USD CALL FX EUROPEAN STYLE OPTION SEP 23, 2004 8 7.833 PURCHASED FX OPTION PUT 156,660,000.00 HKD CALL 20,000,000.00 USD TRADE DATE 09/25/02 Sep 27 Write Option - 156,000,000 HKD CALL USD PUT FX EUROPEAN STYLE OPTION SEP 23, 2004 8 7.8 WRITTEN FX OPTION CALL 156,000,000.00 HKD PUT 20,000,000.00 USD TRADE DATE 09/25/02 127,575.00 - 312,280.00 115,590.76 Amount USD 15,560,000.00 - 4,200.00 EFTA01552623 09 Settlement Date JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 31 of 36 U S Dollar Activity by Date Type continued Quantity Description Sep 27 Sale - 188,905 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST Amount USD 188,905.00 EFTA01552624 09 JPMorgan Chase Bank 2002 Account Number: FINANCIAL TRUST COMPANY INC , New York, NY 10154-1002 Asset Account Portfolio September 01, 2002 - September 30, 2002 Page 32 of 36 In Case of Errors or Questions About Your Electronic Transfers. Contact yourMorgan Teamat one ofthe telephonenumbers on the front of this statement or write us at 5 00 , 1/OPS, Newark,DE19713-2107 as soon as you can, if you think yourstatement is wrong or if you needmore information about a transfer on the statement. We must hearfrom you no laterthan 60 days afterwe sent you the FIRSTstatement on w hich the erroror problem appeared. (1) Tellus yourname and account number. (2) Describethe erroror t he transferyou are unsure about, and explainas clearly as you can why you believe it is in erroror why you need more information. (3) tell us the dollaramount of the suspected error. Ifyou contact us orally, you must send us your complaint or question in wri ting within 10 business days in order to preserveyour rights. We will investigateyourcomplaint and will correct any errorpromptly. Ifwe take more than 10 business days to do this (20 days for purchases using yourdebit card or for internationaltransactions),we will credi t youraccount for the amount you think is in error, so that you will have the use ofmoneyduring the time it takes us to complete our investigation. In case of errors or questions about your statement, including your line of credit. If you think that your statement is incorrect or if you need more information about a transaction on your statement including a line of credit transaction, you must write to us on a separate sheet des cribing the error and send it to: JPMorgan, Private Bank, , 1/OPS3, Newark, DE 19713-2107. We must hear from you no 1 ater than 60 days after the statement on which the error or problem appeared is sent. You can contac t your client service specialist but doing so will not preserve your rights. In your letter, please provide the following information: (1) your name and account number; (2) the dollar amount of the suspected error; and (3) a description of the error and explanation, if you can , why you believe there is an error. If you need more information, you must describe the item you are unsure about. The JPMorgan Funds or The JPMorgan Institutional Funds or The American Century Funds J.P.Morgan Funds Distributor, Inc. is the distributor of the J.P.Morgan Funds and American Century I nvestment Services Inc. is the distributor of the American Century Funds. JPMorgan Investment Manage ment Inc. and American Century Investment Management serve as investment advisors to their respectivefund families. Shares of the funds are not bank deposits and are not guaranteedby any bank, government entity, or the FDIC. Return and share price will fluctuate and redemption value may be more or less than original cost. While the moneymarketfunds seekto maintain a stable net asset valueof$1.00 pershare, there is no assurancethat they will continue to do so. The estimatedannualincome and dividendyieldfigures for mutual funds re presentthe funds' most recentincome dividendannualized. If you have chosen one of the sweep mutual funds, you are notified that positions in the Prime Money Market Sweep Fund represent holdings in the JPMorgan Prime Money Market Fund; positions in the Fede ral Money Market Sweep Fund represent holdings in the JPMorgan Federal Money Market Fund; and positions in the Tax Exempt Money Market Sweep Fund represent holdings in the JPMorgan Tax Exempt Money Market Fund. JPMorgan Private Bank is the marketing name for the private banking business conducted by J.P.Morgan Chase & Co. through its subsidiaries worldwide, including JPMorgan Chase Bank, J.P. Morgan Trust Co mpany, N.A. and J.P. Morgan Securities Inc. EFTA01552625 09 J.P. Morgan Securities Inc. 2002 Account Number: 161121381 FINANCIAL TRUST COMPANY INC 270 Park Avenue New York, NY 10017 Margin Account Portfolio September 01, 2002 - September 30, 2002 Page 33 of 36 Margin Account Portfolio September 1 - September 30, 2002 Table of Contents Portfolio Summary Account Officers Service Specialist: MANNINO/DORAZIO Page 34 All positions in this Margin Account Portfolio are held in custody at J.P. Morgan Securities Inc. (mJPMSI"). Member SIPC. EFTA01552626 09 J.P. Morgan Securities Inc. 2002 Account Number: 161121381 FINANCIAL TRUST COMPANY INC 270 Park Avenue New York, NY 10017 Margin Account Portfolio September 01, 2002 - September 30, 2002 Page 34 of 36 Overview Portfolio Summary Market Value USD Total Sep 30 0.00 Estimated Annual Income USD EFTA01552627 09 J.P. Morgan Securities Inc. 2002 Account Number: 161121381 FINANCIAL TRUST COMPANY INC 270 Park Avenue New York, NY 10017 Margin Account Portfolio September 01, 2002 - September 30, 2002 Page 35 of 36 IMPORTANT INFORMATION ABOUT YOUR STATEMENT Contact your client service specialist if you think your statement is incorrect or you require addit ional information about a transaction on your statement. IMPORTANT INFORMATION ABOUT YOUR JPMSI MARGIN ACCOUNT If there are any errors or omissions on this statement, or if you have any questions about it, pleas e contact your JPMSI Account Representative or JPMSI Compliance Department at (212) 483-2323. Please keep the following in mind when using this statement to track your JPMSI brokerage activity: This statement combines your general margin account with the special memorandum account required by Section 220.6 Regulation T. As required by Regulation T, a permanent record of your separate account is available upon your requ est. 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 Free credit balances in your account are not segregated and may be used in the operation of JPMSIs b usiness, subject to the limitations of SEC Rule 15c3-3. Unless otherwise instructed, JPMSI or its ag ents and depositories will hold your securities. Upon your demand, JPMSI will pay to you the amount of your free credit balance, and will deliver to you f ully-paid securities held on your behalf. Interest will be charged on any debit balance; the method of calculating interest is described in a letter sent to all margin customers. Upon written request, JPMSI will supply you with our most recen t statement required to be furnished to customers under SEC Rule 17a-5(c). If a partial call is made with respect to an issue of securities included in your Margin Account we will allocate the call by a method we deem fair and equitable. You should have received separate JPMSI trade confirmations for each securities transaction. All tra nsactions are subject to the terms and conditions stated on the reverse side of such confirmations a nd are subject to the constitution, by-laws, customs and interpretations of the marketplace where executed and governed by and construed in accordance wi th the laws of the state of New York and all applicable federal laws and regulations. You must promptly advise JPMSI of material changes in your investment objectives or financial situat ion. Unless you inform JPMSI otherwise, JPMSI will consider the information currently in its files t o be complete and accurate. JPMSI is required by law to report to the Internal Revenue Service all dividends and/or interest inc ome on bonds credited to your account during calendar year. Please retain all your statements to ass ist you in preparing your income tax returns. A financial statement of JPMSI is available for your personal inspection at its offices, or a copy o f it will be mailed upon your written request. JPMSI is not a bank and is a separate legal entity from its bank or thrift affiliates, including JPM CB. The securities sold, offered or recommended by JPMSI: (1) Are not insured by the Federal Deposit Insurance Corporation, or any other governmental agency; (2) Are not deposits or other obligations of JPMSI's bank or thrift affiliates (unless otherwise ind icated), and are not guaranteed by or the responsibility of any such affiliates(unless explicitly st ated otherwise); and (3) Involve investment risks, including possible loss of the principal invested. JPMSI's banking affiliates may be lenders to issuers of securities that JPMSI underwrites, in which case proceeds of offerings underwritten by JPMSI may be used for the repayment of such loans, and yo u should refer to the disclosure documents relating to particular securities for discussion of any such lending relationships. The Federal Reserve requires that JPMSI obtain your consent before it can obtain certain information from its bank or thrift affiliates, including their credit evaluation of you. We will assume that y our continuing to transact business with JPMSI will constitute your consent to the sharing of such information by JPMSI and its bank or thrift affiliate s, to the extent permitted by law. JPMorgan Private Bank is the marketing name for the private banking business conducted by J.P. Morga n Chase a Co. through its subsidiaries worldwide, including JPMCB and JPMSI. EFTA01552628 09 J.P. Morgan Securities Inc. 2002 Account Number: 161121381 FINANCIAL TRUST COMPANY INC 270 Park Avenue New York, NY 10017 Margin Account Portfolio September 01, 2002 - September 30, 2002 Page 36 of 36 JPMSI is a member of the Securities Investor Protection Corporation (SIPC), a not-for-profit members hip corporation funded by broker-dealers registered with the Securities and Exchange Commission. Sec urities and cash held for a customer account at JPMSI are protected up to an amount of $50,000,000. The first $500,000 of protection, which includes up to $100,000 of protection for cash, is provided by SIPC. The balance of the protection, which in eludes up to an additional $900,000 of protection for cash, is provided by a separate Excess Securities Bond issued by Travelers Casualty and Surety C ompany of America. This SIPC and excess SIPC protection does not protect against losses from fluctua tions in the value of the securities. Assets held in custody by JPMCB are not subject to SIPC coverage. EFTA01552629