EFTA01552558.pdf

08 2002 Confidential FINANCIAL TRUST COMPANY INC Page 1 of 25 J.P. Morgan Portfolios August 1 - August 31, 2002 Table of Contents Page Account Summary Asset Account Portfolio Margin Account Portfolio Q 30171-00-5 JPMCB JPMSI 161121381 2 3 22 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 EFTA01552558 08 2002 Portfolio Summary FINANCIAL TRUST COMPANY INC August 01, 2002 - August 31, 2002 Page 2 of 25 Portfolio Summary Net Worth Summary Asset Portfolio USD Q 30171-00-5 Assets(Long) Cash Short Term Equities Options Liabilities (Short) Total Options FX Gain/Loss Accrued Income Total Net Worth Income Summary Dividends Total 76,935,408.74 57,944,128.41 18,889,841.58 101,438.75 - 3,743,482.15 - 3,743,482.15 73,191,926.59 82,411.93 81,334.03 73,355,672.55 Margin Portfolio USD 161121381 0.00 0.00 0.00 0.00 0.00 0.00 0.00 .00 0.00 0.00 76,935,408.74 57,944,128.41 18,889,841.58 101,438.75 - 3,743,482.15 - 3,743,482.15 73,191,926.59 82,411.93 81,334.03 73,355,672.55 This Period 80,772.98 80,772.98 Year to Date 128,420.94 128,420.94 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 EFTA01552559 08 JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 3 of 25 Asset Account Portfolio August 1 - August 31, 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 12 14 16 EFTA01552560 08 JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 4 of 25 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 75% Cash and Short Term 25% Equities Market Value USD Aug 31 Cash S Short Term Equities Options Total Foreign Exchange Accrued Income Total Portfolio Value 57,944,128.41 18,889,841.58 - 3,642,043.40 73,191,926.59 82,411.93 81,334.03 73,355,672.55 Income Summary Dividends Total Net Gain/Loss Summary Net Short Term Gain/Loss Total Market Value USD Jul 31 57,697,669.09 20,009,950.78 - 4,692,211.36 73,015,408.51 - 4,030.50 80,772.98 73,092,150.99 Tax Cost USD 57,944,128.41 - 4,806,881.62 53,137,246.79 Estimated Annual Income USD 962,835.42 962,835.42 Yield 1.7 0.0 N/A N/A 1.3 This Period USD 80,772.98 80,772.98 Year to Date USD* 128,420.94 128,420.94 Realized This Period USD Realized Year to Date USD* - 251,773.61 - 251,773.61 *Year to date information is calculated on a calendar year basis. Exchange Rates EFTA01552561 Spot Rates as of August 31, 2002 Market value of Options is not included in pie chart. Currency CHF EUR GBP 'WY Exchange Rate 1.5007 0.9807 1.5469 118.5650 8,523,925.52 8,523,925.52 Unrealized USD 1,164,838.57 1,164,838.57 EFTA01552562 08 JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 5 of 25 Exchange Rates Spot Rates as of August 31, 2002 Currency LUF NOK SEK Exchange Rate 41.1338 7.5324 9.3874 EFTA01552563 08 JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 6 of 25 Cash and Short Term Summary by Maturity Current Market Value USD Cash Less Than 3 Months Total 8,745,961.40 49,198,167.01 57,944,128.41 Estimated Annual Income USD 126,466.59 836,368.83 962,835.42 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 8,745,961.01 1.00 1.00 8,745,961.01 8,745,961.01 10,664.26 GBP 0.25 1.56 1.5469 0.39 8,745,961.40 0.39 8,745,961.40 10,664.26 126,466.59 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 126,466.59 1.45 EFTA01552564 08 JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 7 of 25 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 57,944,128.41 57,944,128.41 81,334.03 0.00 962,835.42 1.66 USD 49,198,167.01 1.00 1.00 49,198,167.01 49,198,167.01 70,669.77 836,368.83 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 EFTA01552565 08 JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 8 of 25 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 23.61 18,889,841.58 18,889,841.58 N/A 0.00 N/A 0.0 EFTA01552566 OB JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 9 of 25 Options Foreign Exchange Description Cusip NOK PUT USD CALL FX EUROPEAN STYLE OPTION NOV 14, 2002 8 8.6 XNOKPA-AT-Z 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-Z CHF - 17,940,000 USD - 12,000,000.00 USD - 380,534.12 - 380,534.12 - 284,073.62 96,460.50 NOK - 129,540,000 USD - 17,000,000.00 USD - 750,880.00 - 750,880.00 - 422,911.83 327,968.17 SEK - 18,420,000 USD - 2,000,000.00 USD - 97,100.00 - 97,100.00 - 82,481.44 14,618.56 NOK - 158,000,000 USD - 20,000,000.00 USD - 632,000.00 - 632,000.00 - 194,539.08 437,460.92 NOK - 38,750,000 USD - 5,000,000.00 USD - 314,600.00 - 314,600.00 - 146,592.41 168,007.59 Counter Amount Currency Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD NOK - 189,200,000 USD - 22,000,000.00 USD - 482,000.00 - 482,000.00 - 2,170.12 479,829.88 EFTA01552567 EFTA01552568 08 Cusip JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 10 of 25 Foreign Exchange Description SEK PUT USD CALL FX EUROPEAN STYLE OPTION JAN 07, 2003 @ 9.21 XSEKPA-BR-2 NOK PUT USD CALL FX EUROPEAN STYLE OPTION JAN 07, 2003 @ 7.515 XNOKPA-BS-2 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 Total Foreign Exchange - 4,806,881.62 - 3,642,043.40 1,164,838.57 NOK - 94,250,000 USD - 12,500,000.00 USD - 612,000.00 - 612,000.00 - 577,143.65 34,856.35 SEK - 72,375,000 USD - 7,500,000.00 USD - 202,500.00 - 202,500.00 - 120,240.93 82,259.07 JPY 875,000,000 USD 7,000,000.00 USD 32,390.00 32,390.00 8,260.00 - 24,130.00 NOK 175,000,000 USD 25,000,000.00 USD 319,697.00 319,697.00 93,178.75 - 226,518.25 NOK - 91,875,000 USD - 12,500,000.00 USD - 209,634.50 - 209,634.50 - 558,378.58 - 348,744.08 NOK - 127,755,000 USD - 17,000,000.00 USD - 781,090.00 - 781,090.00 - 614,628.03 166,461.97 Counter Amount Currency EFTA01552569 continued SEK - 156,570,000 USD - 17,000,000.00 USD - 696,630.00 - 696,630.00 - 740,322.46 - 43,692.46 Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01552570 08 JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 11 of 25 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. 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. EFTA01552571 08 JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 12 of 25 Outstanding Foreign Exchange Contracts Net Currency Exposure Summary Swiss Franc Pound Sterling Norwegian Krone Swedish Krona U S Dollar Value in Currency 44,807,000.00 10,000,000.00 153,575,000.00 182,800,000.00 - 85,000,093.62 Gain/Loss Summary Total Unrealized Closed Value in USD Total Unrealized Open Total Unrealized Gain/Loss 547,500.01 - 465,088.08 82,411.93 Foreign Exchange Contracts Settlement Date Trade Date SPECULATIVE SWISS FRANC - U S DOLLAR Jun. 21 02 Sep. 25 02 CHF Jul. 22 02 Sep. 25 02 CHF Jul. 26 02 Sep. 25 02 CHF Total Open 15,120,000.00 USD 44,327,000.00 USD - 14,640,000.00 USD 44,807,000.00 POUND STERLING - U S DOLLAR Jun. 20 02 sep. 24 02 GBP Jul. 12 02 sep. 24 02 GBP Jul. 26 02 Sep. 24 02 GBP Total Closed Jul. 11 02 Sep. 25 02 GBP Total 10,000,000.00 USD - 5,000,000.00 USD - 5,000,000.00 USD 0.00 10,000,000.00 USD 10,000,000.00 - 10,000,000.00 - 30,517,728.06 10,000,000.00 - 30,517,728.06 - 14,925,000.00 7,697,500.00 7,775,000.00 547,500.00 - 15,534,000.00 - 14,986,500.00 1.512 1.4525 1.464 1.499492 1.499492 1.499492 10,083,417.63 29,561,352.75 10,000,000.00 49,644,770.38 1.4925 EFTA01552572 1.5395 1.555 1.5534 1.544720 1.544720 1.544720 1.544629 15,447,199.99 7,697,500.00 7,775,000.00 30,919,699.99 15,446,291.66 46,365,991.65 10,000,000.00 30,517,728.06 9,763,309.14 50,281,037.20 14,925,000.00 7,723,599.99 7,723,599.99 30,372,199.98 15,534,000.00 45,906,199.98 83,417.63 - 956,375.31 236,690.86 - 636,266.82 522,199.99 - 26,099.99 51,400.01 547,500.01 - 87,708.34 459,791.67 Currency Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD EFTA01552573 08 Trade Date JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 13 of 25 Foreign Exchange Contracts Settlement Date Currency NORWEGIAN KRONE - U S DOLLAR Jun. 21 02 Sep. 25 02 NOK Jul. 30 02 Sep. 25 02 NOK Total Open continued Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD 76,950,000.00 USD 76,625,000.00 USD 153,575,000.00 - 10,000,000.00 - 10,000,000.00 - 20,000,000.00 SWEDISH KRONA - U S DOLLAR Jun. 21 02 Sep. 25 02 SEK Jul. 12 02 Sep. 25 02 SEK Total Open Total Foreign Exchange Contracts 93,800,000.00 USD 89,000,000.00 USD 182,800,000.00 - 10,000,000.00 - 9,495,865.56 - 19,495,865.56 7.695 7.6625 7.559600 7.559600 10,179,110.36 10,136,118.67 20,315,229.03 9.38 9.3725 9.403523 9.403523 9,974,985.31 9,464,538.30 19,439,523.61 135,765,514.67 10,000,000.00 10,000,000.00 20,000,000.00 10,000,000.00 9,495,865.56 19,495,865.56 135,683,102.74 179,110.36 136,118.67 315,229.03 - 25,014.69 - 31,327.26 - 56,341.95 82,411.93 EFTA01552574 EFTA01552575 08 JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 14 of 25 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 Jul 31 Aug 1 Purchase Aug 1 Aug 5 Sell Option Aug 6 Aug 8 Buy-Back Opt Aug 7 Aug 9 Sell Option Aug 7 Aug 9 Buy-Back Opt J P MORGAN PRIME MONEY MARKET FUND INSTITUTIONAL SHARES CLASS (FUND 829) CHF CALL USD PUT FX EUROPEAN STYLE OPTION FEB 20, 2003 8 1.5 CHF PUT USD CALL FX EUROPEAN STYLE OPTION JAN 07, 2003 8 1.495 SEK CALL USD PUT FX AMERICAN STYLE OPTION NOV 27, 2002 8 9.25 SEK PUT USD CALL FX EUROPEAN STYLE OPTION DEC 20, 2002 8 9.21 USD USD USD USD USD 72,173.02 - 11,250,000 7,475,000 - 92,500,000 46,050,000 1.00 - 72,173.02 324,686.00 - 151,000.00 92,000.00 - 302,500.00 - 130,000.00 158,555.88 - 83,900.00 242,750.00 194,686.00 S 7,555.88 S 8,100.00 S - 59,750.00 S Realized Type Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD Amount USD - 251,773.62 0.00 EFTA01552576 EFTA01552577 08 Trade Date JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 15 of 25 Settlement Date Realized Type Settled continued Aug 7 Aug 9 Write Option Aug 19 Aug 21 Buy-Back Opt SEK PUT USD CALL FX EUROPEAN STYLE OPTION DEC 20, 2002 @ 9.65 NOK PUT USD CALL Aug 19 Aug 21 Write Option FX EUROPEAN STYLE OPTION JAN 15, 2003 @ 7.35 KNOCK OUT @ 7.22 NOK PUT USD CALL FX EUROPEAN STYLE OPTION MAR 19, 2003 @ 7.54 USD USD - 72,375,000 91,875,000 2.70 202,500.00 - 612,000.00 209,634.50 - 402,365.50 S Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD - 94,250,000 4.90 612,000.00 EFTA01552578 08 JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 16 of 25 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 Aug 20 Misc. Receipt Quantity Description REP: WRITE OFF OF OVERDRAFT SWISS FRANC .00 - 310,981,288.00 .50 .50 310,981,287.50 - .50 Amount to Date Realized Amount Gain/Loss USD 0.50 0.33 Amount USD EFTA01552579 08 JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 17 of 25 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 .00 *Year to date information is calculated on a calendar year basis. - 1,170,535.96 - 1,137,673.02 - 112,757,984.12 - 51,640,323.01 - 367,482,032.61 80,772.98 159,000.00 2,068,436.00 128,420.94 104,012,023.11 11,111,071.00 45,000,000.00 371,628,824.69 .00 Amount Year to Date USD* U S Dollar Activity by Date Type Settlement Date Aug 1 Aug 1 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 8,599.96 72,173.02 EFTA01552580 08 Settlement Date Aug 1 JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC sse ccot August 01, 2002 - August 31, 2002 Page 18 of 25 U S Dollar Activity by Date Type continued Quantity Description Purchase 72,173.02 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 07/31/02 Aug 1 Aug 2 Purchase Sell Option 8,599.96 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST - 120,000,000 NOK CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 @ 8. RESALE OF PURCHASED FX OPTION TRADE DATE 07/31/02 Aug 2 Aug 5 Purchase Sell Option 837,250 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST - 11,250,000 CHF CALL USD PUT FX EUROPEAN STYLE OPTION FEB 20, 2003 @ 1.5 RESALE OF PURCHASED FX OPTION TRADE DATE 08/01/02 Aug 5 Purchase 324,686 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST - 324,686.00 - 837,250.00 324,686.00 - 8,599.96 837,250.00 Amount USD - 72,173.02 EFTA01552581 08 Settlement Date Aug 8 JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 19 of 25 U S Dollar Activity by Date Type continued Quantity Description Buy-Back Opt 7,475,000 CHF PUT USD CALL FX EUROPEAN STYLE OPTION JAN 07, 2003 a 1.495 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 08/06/02 Aug 8 Aug 9 Sale Buy-Back Opt - 151,000 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST 46,050,000 SEK PUT USD CALL FX EUROPEAN STYLE OPTION DEC 20, 2002 a 9.21 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 08/07/02 Aug 9 Write Option - 72,375,000 SEX PUT USD CALL FX EUROPEAN STYLE OPTION DEC 20, 2002 a 9.65 WRITTEN FX OPTION PUT 72,375,000.00 SEX CALL 7,500,000.00 USD TRADE DATE 08/07/02 Aug 9 Sell Option - 92,500,000 SEX CALL USD PUT FX AMERICAN STYLE OPTION NOV 27, 2002 a 9.25 RESALE OF PURCHASED FX OPTION TRADE DATE 08/07/02 Aug 9 Sale - 8,000 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST 8,000.00 92,000.00 202,500.00 151,000.00 - 302,500.00 Amount USD - 151,000.00 EFTA01552582 08 Settlement Date JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 20 of 25 U S Dollar Activity by Date Type continued Quantity Description Aug 21 Buy-Back Opt 91,875,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION JAN 15, 2003 @ 7.35 KNOCK OUT @ 7.22 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 08/19/02 Aug 21 Write Option - 94,250,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION MAR 19, 2003 @ 7.54 WRITTEN FX OPTION PUT 94,250,000.00 NOK CALL 12,500,000.00 USD TRADE DATE 08/19/02 612,000.00 Amount USD - 612,000.00 EFTA01552583 08 JPMorgan Chase Bank 2002 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC Asset Account Portfolio August 01, 2002 - August 31, 2002 Page 21 of 25 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 MN 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, . 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. EFTA01552584 08 J.P. Morgan Securities Inc. 2002 Account Number: 161121381 FINANCIAL TRUST COMPANY INC lirgtgin ccou: August 01, 2002 - August 31, 2002 Page 22 of 25 Margin Account Portfolio August 1 - August 31, 2002 Table of Contents Portfolio Summary Account Officers Service Specialist: MANNINO/DORAZIO Page 23 All positions in this Margin Account Portfolio are held in custody at J.P. Morgan Securities Inc. (mJPMSI"). Member SIPC. EFTA01552585 08 J.P. Morgan Securities Inc. 2002 Account Number: 161121381 FINANCIAL TRUST COMPANY INC Margin Account Portfolio August 01, 2002 - August 31, 2002 Page 23 of 25 Overview Portfolio Summary Market Value USD Total Aug 31 0.00 Estimated Annual Income USD EFTA01552586 08 J.P. Morgan Securities Inc. 2002 Account Number: 161121381 FINANCIAL TRUST COMPANY INC Margin Account Portfolio August 01, 2002 - August 31, 2002 Page 24 of 25 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 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. EFTA01552587 08 J.P. Morgan Securities Inc. 2002 Account Number: 161121381 FINANCIAL TRUST COMPANY INC Margin Account Portfolio August 01, 2002 - August 31, 2002 Page 25 of 25 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. EFTA01552588