EFTA01557546.pdf

05 2002 Confidential FINANCIAL TRUST COMPANY INC Page 1 of 46 J.P. Morgan Portfolios May 1 - May 31, 2002 Table of Contents Page Account Summary Asset Account Portfolio Margin Account Portfolio 0 JPMCB JPMSI 2 3 43 000000.0000.00.0000.000.000000000.000000 FINANCIAL TRUST COMPANY ATTN: JEFFREY E EPSTEIN C/O AMERICAN YACHT HARBOR 6100 RED HOOK, QUARTERS ►BS ST THOMAS 00802 US VIRGIN ISLDS EFTA01557546 05 2002 FINANCIAL TRUST COMPANY INC Portfolio Summary May 01, 2002 - May 31, 2002 Page 2 of 46 Portfolio Summary Net Worth Summary Asset Portfolio USD Assets(Long) Total Cash S Short Term FX Gain/Loss Accrued Income Total Net Worth Private Investments Income Summary Dividends Total 1,104,477.77 1,104,477.77 1,104,477.77 755,488.63 13,330.01 1,873,296.41 899,412.00 Margin Portfolio USD 0.00 0.00 0.00 .00 0.00 0.00 0.00 1,104,477.77 1,104,477.77 1,104,477.77 755,488.63 13,330.01 1,873,296.41 899,412.00 This Period 16,491.28 16,491.28 Year to Date 59,671.44 59,671.44 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 EFTA01557547 05 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 3 of 46 Asset Account Portfolio May 1 - May 31, 2002 Table of Contents Portfolio Summary Cash and Short Term Private Investments Outstanding Foreign Exchange Contracts Trade Activity Account Transactions Account Officers Service Specialist: MANNINO/DORAZIO Page 4 6 8 10 12 18 EFTA01557548 05 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 4 of 46 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 55% Cash and Short Term 45% Private Investments* Market Value USD May 31 Cash S Short Term Total Foreign Exchange Accrued Income Total Portfolio Value Private Investments * 1,104,477.77 1,104,477.77 755,488.63 13,330.01 1,873,296.41 899,412.00 Market Value USD Apr 30 13,303,014.93 13,303,014.93 16,491.28 13,319,506.21 884,478.00 Tax Cost USD 1,104,477.77 1,104,477.77 Estimated Annual Income USD 19,654.27 19,654.27 Yield 1.8 1.8 Income Summary Dividends Total Net Gain/Loss Summary Net Short Term Gain/Loss Total This Period USD 16,491.28 16,491.28 Year to Date USD* 59,671.44 59,671.44 Realized This Period USD Realized Year to Date USD** 320,871.56 320,871.56 **Year to date information is calculated on a calendar year basis. Exchange Rates Spot Rates as of May 31, 2002 *Value is an estimated figure given the illiquid nature of Private Investments (see Private Investment information at end of section summary). Currency CHF EUR EFTA01557549 GBP NOK Exchange Rate 1.5668 0.9343 1.4632 8.0123 Unrealized USD 430,679.26 430,679.26 EFTA01557550 05 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 5 of 46 EUR Conversion Rates as of January 1, 1999 Currency AST BEF DEM ESP FIM FRF IEP ITL LUF NLG PTE Exchange Rate 13.7603 40.3399 1.9558 166.386 5.9457 6.5596 0.7875 1,936.2700 40.3399 2.2037 200.4820 EFTA01557551 05 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 6 of 46 Cash and Short Term Summary by Maturity Current Market Value USD Cash Less Than 3 Months Total 82,000.00 1,022,477.77 1,104,477.77 Estimated Annual Income USD 1,249.68 18,404.59 19,654.27 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: 1.51% Short Term by Maturity J P MORGAN PRIME MONEY MARKET FUND INSTITUTIONAL SHARES CLASS (FUND 829) 7-Da Annualized Yield: 1.75% USD 1,022,477.77 1.00 1.00 1,022,477.77 1,022,477.77 12,571.71 18,404.59 1.80 USD 82,000 1.00 1.00 82,000.00 82,000.00 758.30 1,249.68 1.52 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 EFTA01557552 EFTA01557553 05 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 7 of 46 Cash and Short Term by Type Description Cusip/S&P/Moody's Rating Total Cash and Short Term 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 1,104,477.77 1,104,477.77 13,330.01 0.00 19,654.27 1.7E EFTA01557554 05 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 8 of 46 Private Private Investments Summary Investments * LPs, LLCs, and Other Total Estimated Current Value USD 899,412.00 899,412.00 Private Investment Holdings in Alphabetical Order Units/ Commitment USD Description LPs,LLCs, and Other NESTOR 2000 SPECIAL LLC (COMMITMENT EXPRESSED IN EUROS) * The 'Capital Called Since Inception USD' and 'Cash/Security Distributions Since Inception USD' col umns are updated monthly to reflect any interim capital calls and distributions. The 'Estimated Valu e USD' column reflects information received by JPMCB from the general partner or manager which, in most cases, is quarterly, plus any interim capital cal Is and less any distributions made to date since the last valuation received from such source by JPM CB Generally, distributions of securities in kind are valued at the fair market value of the securities on the date of the distribution * See: Important Information About Private Investment Valuations Important Information About Private Investment Valuations Direct equity investments and limited partnership and limited liability company units are generally illiquid securities, and prices are not guaranteed for accuracy or as realizable values. Direct equity investments are valued at cost, unless there is an active secondary trading market in the securities, in which case, direct equity investments are valued using market prices as of the cl ose of the last business day for this statement period. Limited partnership and limited liability company units are valued at cost on ly if "valued at cost" is stated within the security description. Otherwise, all such units are valu ed according to the general partner's or manager's stated methodology. These methodologies generally include an appraisal of the underlying assets at t he lower of cost or a written-down amount, at a value at which third party financing has occurred, a t a market price if an active secondary market develops, or at a value endorsed by an independent party. Please refer to the limited partnership or limited liability company documentation for each security for the specific valuation methodology us ed by the general partner or manager for that security. JPMCB expressly disclaims any responsibility for (1) the accuracy of the information and the methodo logy used by the issuer, general partner or manager used in deriving the valuations, (2) any errors or omissions in compiling or disseminating the valuations, and (3) any use to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. This statement does not provide tax reporting on the limited partnership and limited liability units . Please continue to rely upon the general partner or general manager of the entity for this informs tion. USD 3,000,000.00 1,109,854.04 0.00 899,412.00 Currency Net of Origination Fee Capital Called Since Inception USD Cash/Security Distributions Since Inception USD Estimated Value USD EFTA01557555 05 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 9 of 46 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. EFTA01557556 05 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 10 of 46 Outstanding Foreign Exchange Contracts Net Currency Exposure Summary Swiss Franc Euro Currency Pound Sterling Norwegian Krone U S Dollar Value in Currency 39,587,500.00 20,000,000.00 - 9,201,920.75 82,525,000.00 - 40,008,848.17 Gain/Loss Summary Total Unrealized Open Value in USD Total Unrealized Gain/Loss 755,488.63 755,488.63 Foreign Exchange Contracts Settlement Date Trade Date SPECULATIVE SWISS FRANC - U S DOLLAR May. 23 02 Jun. 24 02 CHF May. 24 02 Jun. 24 02 CHF Total Open May. 17 02 Jun. 21 02 EUR 39,805,000.00 USD - 217,500.00 USD 39,587,500.00 EURO CURRENCY - POUND STERLING POUND STERLING - U S DOLLAR NORWEGIAN KRONE - U S DOLLAR May. 23 02 Jun. 24 02 GBP May. 17 02 Jun. 24 02 NOK 20,000,000.00 GBP 3,422,079.25 USD 82,624,000.00 USD - 25,189,849.39 137,414.70 - 25,052,434.69 - 12,624,000.00 - 4,966,121.41 - 10,000,000.00 0.6312 1.4512 8.2624 1.565525 1.460946 8.038571 1.5802 1.5828 1.566104 1.566104 25,416,575.63 137,414.70 25,553,990.33 18,667,499.98 4,999,472.98 10,278,443.69 25,189,849.39 138,879.66 25,328,729.05 18,446,460.20 4,966,121.41 10,000,000.00 226,726.24 EFTA01557557 - 1,464.96 225,261.28 221,039.78 33,351.57 278,443.69 Currency Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD EFTA01557558 05 Trade Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 11 of 46 Foreign Exchange Contracts Settlement Date Currency May. 17 02 Jun. 24 02 NOK May. 20 02 Jun. 24 02 NOK Total Open continued Amount Counter Currency 82,525,000.00 USD - 82,624,000.00 USD 82,525,000.00 Total Foreign Exchange Contracts Counter Amount - 10,021,859.25 10,031,567.18 - 9,990,292.07 Contract Rate 8.2345 8.2364 Current Market Forward Rate 8.038571 8.038571 Market Value Receivables USD 10,266,128.07 10,031,567.18 30,576,138.94 79,797,102.23 Market Value Payables USD 10,021,859.25 10,278,443.69 30,300,302.94 79,041,613.60 Unrealized Gain/Loss USD 244,268.82 - 246,876.51 275,836.00 755,488.63 EFTA01557559 05 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 12 of 46 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 Activity by Type Settlement Date Trade Date Settled Apr 30 May 1 Purchase May 1 May 3 Write Option J P MORGAN PRIME MONEY MARKET FUND INSTITUTIONAL SHARES CLASS (FUND 829) GBP PUT USD CALL May 1 May 3 Write Option May 1 May 3 Write Option FX EUROPEAN STYLE OPTION OCT 31, 2002 @ 1.4625 KNOCK OUT @ 1.4758 NOK PUT USD CALL FX EUROPEAN STYLE OPTION MAY 30, 2002 @ 8.41 NOK PUT USD CALL FX EUROPEAN STYLE OPTION OCT 31, 2002 @ 8.41 KNOCK OUT @ 8.25 USD USD 3,174.53 - 5,000,000 1.00 0.934 - 3,174.53 68,325.00 Type Amount USD 320,795.29 0.00 Realized Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD USD - 42,050,000 0.66 - 84,100,000 1.221 33,000.00 122,125.00 EFTA01557560 05 Trade Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 13 of 46 Trade Activity by Type Settlement Date Type Settled continued May 1 May 3 write Option May 1 May 1 Purchase May 7 May 10 write Option May 7 May 10 write Option May 8 May 13 write Option May 10May 14 Purchase Opt May 10May 14 write Option May 14May 16 write Option May 15May 15 Expired Opt NOK PUT USD CALL FX EUROPEAN STYLE OPTION MAY 30, 2002 8 8.37 J P MORGAN PRIME MONEY MARKET FUND INSTITUTIONAL SHARES CLASS (FUND 829) CHF PUT USD CALL FX EUROPEAN STYLE OPTION NOV 08, 2002 8 1.63 CHF PUT USD CALL FX EUROPEAN STYLE OPTION AUG 08, 2002 8 1.6275 CHF PUT USD CALL FX EUROPEAN STYLE OPTION MAY 15, 2002 8 1.612 SEK CALL USD PUT FX EUROPEAN STYLE OPTION AUG 12, 2002 8 10.05 SEK PUT USD CALL FX EUROPEAN STYLE OPTION MAY 17, 2002 8 10.24 NOK PUT USD CALL FX EUROPEAN STYLE OPTION NOV 14, 2002 8 8.6 CHF PUT USD CALL FX EUROPEAN STYLE OPTION MAY 15, 2002 8 1.612 USD USD USD USD USD USD USD USD 11,000,000 - 8,150,000 - 8,137,500 - 16,120,000 65,325,000 - 66,560,000 - 189,200,000 16,120,000 1.00 - 11,000,000.00 1.707 1.075 0.35 1.261 0.323 2.19 85,350.00 53,750.00 35,000.00 - 82,000.00 EFTA01557561 21,000.00 482,000.00 0.00 35,000.00 35,000.00 S USD - 41,850,000 0.78 39,000.00 continued Realized Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD EFTA01557562 05 Trade Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 14 of 46 Trade Activity by Type Settlement Date Type Settled continued May 17May 22 Purchase Opt CHF CALL USD PUT May 17May 22 Write Option FX EUROPEAN STYLE OPTION FEB 20, 2003 @ 1.5 CHF PUT USD CALL May 17May 22 Write Option May 17May 22 Write Option May 20May 22 Purchase Opt May 20May 22 Write Option May 20May 22 Purchase Opt May 20May 22 Write Option FX EUROPEAN STYLE OPTION NOV 20, 2002 @ 1.6 KNOCK OUT @ 1.5615 SEK PUT USD CALL FX EUROPEAN STYLE OPTION JUN 19, 2002 @ 10.08 SEK PUT USD CALL FX EUROPEAN STYLE OPTION JUN 19, 2002 @ 10.08 CHF CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 @ 1.5 CHF PUT USD CALL FX EUROPEAN STYLE OPTION NOV 20, 2002 @ 1.585 NOK CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 @ 8. NOK PUT USD CALL May 20May 20 Expired Opt FX EUROPEAN STYLE OPTION NOV 20, 2002 @ 8.25 KNOCK OUT @ 8.05 SEK PUT USD CALL FX EUROPEAN STYLE OPTION MAY 17, 2002 @ 10.24 USD USD 11,250,000 - 12,000,000 1.733 0.933 - 130,000.00 70,000.00 continued Realized Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD USD USD USD USD USD - 50,400,000 0.93 - 50,400,000 37,500,000 EFTA01557563 - 39,625,000 280,000,000 - 165,000,000 0.91 1.367 0.94 1.34 1.64 46,500.00 45,500.00 - 341,750.00 235,000.00 - 469,000.00 328,000.00 USD 66,560,000 0.00 21,000.00 21,000.00 S EFTA01557564 05 Trade Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 15 of 46 Trade Activity by Type Settlement Date Type Settled continued May 20May 20 Sale continued Realized Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD J P MORGAN PRIME MONEY MARKET FUND INSTITUTIONAL SHARES CLASS (FUND 829) May 22May 24 Purchase Opt AUD CALL USD PUT May 22May 24 write Option FX AMERICAN STYLE OPTION NOV 21, 2002 @ .575 AUD PUT USD CALL May 23May 28 Purchase Opt May 23May 28 write Option May 29May 29 Purchase May 30May 30 Expired Opt May 30May 30 Expired Opt FX EUROPEAN STYLE OPTION NOV 21, 2002 @ .5475 KNOCK OUT @ .569 SEK CALL USD PUT FX AMERICAN STYLE OPTION NOV 26, 2002 @ 9.25 SEK PUT USD CALL FX EUROPEAN STYLE OPTION AUG 26, 2002 @ 10.2 J P MORGAN PRIME MONEY MARKET FUND INSTITUTIONAL SHARES CLASS (FUND 829) NOK PUT USD CALL FX EUROPEAN STYLE OPTION MAY 30, 2002 @ 8.41 NOK PUT USD CALL FX EUROPEAN STYLE OPTION MAY 30, 2002 @ 8.37 USD USD USD 876,429.34 42,050,000 41,850,000 1.00 - 876,429.34 0.00 0.00 33,000.00 39,000.00 33,000.00 S 39,000.00 S USD USD USD - 13,000,000 1.00 20,000,000 - 20,000,000 1.296 1.288 EFTA01557565 13,000,000.00 - 13,000,000.00 - 149,000.00 141,000.00 USD USD 92,500,000 0.787 - 102,000,000 0.88 - 78,700.00 88,000.00 EFTA01557566 05 Date JPMorgan Chase Bank 2002 Account Number: 0 FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 16 of 46 Trade Activity by Type Settlement Date SPECULATIVE SWISS FRANC May 1 02 May 17 02 May 1 02 May 17 02 May 6 02 May 17 02 May 7 02 May 17 02 May 7 02 May 17 02 May 7 02 May 17 02 May 7 02 May 17 02 May 15 02 May 17 02 May 15 02 May 24 02 May 20 02 May 24 02 May 22 02 May 24 02 May 23 02 May 24 02 May 1 02 May 17 02 May 15 02 May 17 02 May 15 02 May 24 02 May 23 02 May 24 02 continued Settled Foreign Exchange Contracts Trade Currency - U S DOLLAR CHF CHF CHF Counter Amount Currency Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD 8,021,500.00 USD - 5,000,000.00 8,009,000.00 USD - 5,000,000.00 7,947,500.00 USD - 5,000,000.00 CHF 15,830,000.00 USD - 10,000,000.00 CHF 15,820,000.00 USD - 10,000,000.00 CHF - 7,978,000.00 USD CHF 5,000,000.00 7,961,000.00 USD - 5,000,000.00 CHF - 55,611,000.00 USD 34,713,483.14 CHF 55,611,000.00 USD - 34,724,320.94 CHF - 15,806,000.00 USD 10,000,000.00 CHF - 217,500.00 USD POUND STERLING - U S DOLLAR GBP CHF - 39,805,000.00 USD 25,165,960.68 GBP - 3,422,079.25 USD GBP GBP - 3,422,079.25 USD NORWEGIAN KRONE - U S DOLLAR May 6 02 May 21 02 NOK 41,520,000.00 USD - 5,000,000.00 May 6 02 May 21 02 NOK 41,445,000.00 USD - 5,000,000.00 May 7 02 May 21 02 NOK 41,447,500.00 USD - 5,000,000.00 8.304000 8.289000 8.289500 EFTA01557567 8.205650 8.205650 8.205650 - 5,000,000.00 - 5,000,000.00 - 5,000,000.00 5,059,928.22 5,050,788.17 5,051,092.84 59,928.22 50,788.17 51,092.84 3,422,079.25 USD - 5,000,000.00 4,984,600.64 3,422,079.25 USD - 4,983,916.22 4,972,281.15 138,104.00 1.604300 1.601800 1.589500 1.583000 1.582000 1.595600 1.592200 1.602000 1.601500 1.580600 1.574900 1.581700 1.461100 1.456600 1.456400 1.453000 1.579650 1.579650 1.579650 1.579650 1.579650 1.579650 1.579650 1.579650 1.580500 1.580500 1.580512 1.580512 - 5,000,000.00 - 5,000,000.00 - 5,000,000.00 - 10,000,000.00 - 10,000,000.00 5,000,000.00 - 5,000,000.00 5,078,023.61 5,070,110.46 5,031,177.79 10,021,207.22 10,014,876.71 - 5,050,485.86 5,039,723.98 34,713,483.14 - 35,204,633.91 - 34,724,320.94 10,000,000.00 - 10,000,632.71 138,104.00 25,165,960.68 - 25,184,875.93 1.460850 1.460850 1.457300 1.457300 - 5,000,000.00 4,984,600.64 - 4,983,916.22 4,972,281.15 4,999,144.52 - 4,999,144.52 4,986,996.14 - 4,986,996.14 35,185,700.72 - 137,613.63 78,023.61 EFTA01557568 70,110.46 31,177.79 21,207.22 14,876.71 - 50,485.86 39,723.98 - 491,150.77 461,379.78 - 632.71 490.37 - 18,915.25 - 855.48 - 14,543.88 3,079.92 - 14,714.99 EFTA01557569 05 Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 17 of 46 Trade Activity by Type Settlement Date continued Settled Foreign Exchange Contracts Trade Currency Counter Amount Currency continued May 7 02 May 21 02 NOK 41,727,500.00 USD - 5,000,000.00 May 7 02 May 21 02 NOK - 83,615,000.00 USD 10,000,000.00 May 17 02 May 21 02 NOK - 82,525,000.00 USD 10,064,024.39 TRADE RELATED SWISS FRANC May 24 02 May 24 02 - U S DOLLAR CHF 217,500.00 USD - 137,345.28 8.345500 8.361500 8.200000 1.583600 8.205650 8.205650 8.205650 1.583600 - 5,000,000.00 5,085,215.67 10,000,000.00 - 10,189,930.10 10,064,024.39 - 10,057,094.80 - 137,345.28 137,345.28 85,215.67 - 189,930.10 6,929.59 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD EFTA01557570 05 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 18 of 46 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 May 21 Fwd FX Ctrct Quantity Description - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 8.304000000 TRADE 5/06/02 VALUE 5/21/02 May 21 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 8.289000000 TRADE 5/06/02 VALUE 5/21/02 May 21 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 8.289500000 TRADE 5/07/02 VALUE 5/21/02 .00 166,140,000.00 - 166,140,000.00 .00 166,140,000.00 - 166,140,000.00 Amount to Date Realized Amount Gain/Loss USD 41,520,000.00 5,059,928.22 Amount USD 41,445,000.00 5,050,788.17 41,447,500.00 5,051,092.84 EFTA01557571 05 Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 19 of 46 Norwegian Krone Activity by Date Settlement continued Realized Type May 21 Fwd FX Ctrct Quantity Description - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 8.345500000 TRADE 5/07/02 VALUE 5/21/02 May 21 Fwd FX Ctrct 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NOK CONTRACT RATE : 8.361500000 TRADE 5/07/02 VALUE 5/21/02 May 21 Spot FX 10,064,024.39 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NOK SPOT RATE : 8.200000000 TRADE 5/17/02 VALUE 5/21/02 U S DOLLAR NORWEGIAN KRONE Gain/Loss USD 41,727,500.00 5,085,215.67 Amount Amount USD - 83,615,000.00 - 10,189,930.10 - 82,525,000.00 - 10,064,024.39 EFTA01557572 05 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 20 of 46 Account Transactions by Currency Pound Sterling Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Foreign Exchange Ending Balance Pound Sterling Activity by Date Settlement Date Type May 17 Fwd FX Ctrct Quantity Description - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.461100000 TRADE 5/01/02 VALUE 5/17/02 May 17 Spot FX 4,984,600.64 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL GBP SPOT RATE : 1.456600000 TRADE 5/15/02 VALUE 5/17/02 U S DOLLAR POUND STERLING May 24 Fwd FX Ctrct - 4,983,916.22 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.456400000 TRADE 5/15/02 VALUE 5/24/02 3,422,079.25 4,986,996.14 .00 6,844,158.50 - 6,844,158.50 .00 6,844,158.50 - 6,844,158.50 Amount to Date Realized Amount Gain/Loss USD 3,422,079.25 4,999,144.52 Amount USD - 3,422,079.25 - 4,984,600.64 EFTA01557573 05 Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 21 of 46 Pound Sterling Activity by Date Settlement continued Realized Type May 24 Spot FX Quantity Description 4,972,281.15 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL GBP SPOT RATE : 1.453000000 TRADE 5/23/02 VALUE 5/24/02 U S DOLLAR POUND STERLING Gain/Loss USD - 3,422,079.25 - 4,972,281.15 Amount Amount USD EFTA01557574 05 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 22 of 46 Account Transactions by Currency Swiss Franc Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Foreign Exchange Ending Balance Foreign Exchange Gains/Losses Swiss Franc Activity by Date Settlement Date Type May 17 Fwd FX Ctrct Quantity Description - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.604300000 TRADE 5/01/02 VALUE 5/17/02 May 17 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.601800000 TRADE 5/01/02 VALUE 5/17/02 May 17 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.589500000 TRADE 5/06/02 VALUE 5/17/02 .00 119,417,500.00 - 119,417,500.00 .00 76.27 119,417,500.00 - 119,417,500.00 Amount to Date Realized Amount Gain/Loss USD 8,021,500.00 5,078,023.61 Amount USD 8,009,000.00 5,070,110.46 7,947,500.00 5,031,177.79 EFTA01557575 05 Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 23 of 46 Swiss Franc Activity by Date Settlement continued Realized Type May 17 Fwd FX Ctrct Quantity Description - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.583000000 TRADE 5/07/02 VALUE 5/17/02 May 17 Fwd FX Ctrct - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.582000000 TRADE 5/07/02 VALUE 5/17/02 May 17 Fwd FX Ctrct 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL CHF CONTRACT RATE : 1.595600000 TRADE 5/07/02 VALUE 5/17/02 May 17 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.592200000 TRADE 5/07/02 VALUE 5/17/02 May 17 Spot FX 34,713,483.14 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.602000000 TRADE 5/15/02 VALUE 5/17/02 U S DOLLAR SWISS FRANC May 24 Fwd FX Ctrct - 34,724,320.94 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.601500000 TRADE 5/15/02 VALUE 5/24/02 May 24 Fwd FX Ctrct 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL CHF CONTRACT RATE : 1.580600000 TRADE 5/20/02 VALUE 5/24/02 76.27 Gain/Loss USD 15,830,000.00 10,021,207.22 Amount Amount USD 15,820,000.00 10,014,876.71 - 7,978,000.00 - 5,050,485.86 7,961,000.00 5,039,723.98 - 55,611,000.00 - 34,713,483.14 55,611,000.00 35,185,700.72 - 15,806,000.00 - 10,000,632.71 EFTA01557576 EFTA01557577 05 Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 24 of 46 Swiss Franc Activity by Date Settlement continued Realized Type May 24 Spot FX Quantity Description 138,104 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.574900000 TRADE 5/22/02 VALUE 5/24/02 U S DOLLAR SWISS FRANC May 24 Spot FX 25,165,960.68 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.581700000 TRADE 5/23/02 VALUE 5/24/02 U S DOLLAR SWISS FRANC May 24 Spot FX - 137,345.28 SPOT CURRENCY TRANSACTION - BUY BUY CHF SELL USD SPOT RATE : 1.583600000 TRADE 5/24/02 VALUE 5/24/02 SWISS FRANC U S DOLLAR Gain/Loss USD - 217,500.00 - 138,104.00 Amount Amount USD - 39,805,000.00 - 25,165,960.68 217,500.00 137,345.28 EFTA01557578 05 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 25 of 46 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 - 1,509,683.06 - 13,130,053.87 - 13,051,000.00 - 104,845,582.44 .00 *Year to date information is calculated on a calendar year basis. - 10,675,045.91 - 14,344,270.23 - 16,968,647.23 - 104,849,090.48 16,491.28 12,587,824.09 14,893,550.00 105,038,454.00 59,671.44 15,311,332.13 15,980,775.00 10,446,821.28 105,038,454.00 .00 Amount Year to Date USD* U S Dollar Activity by Date Type Settlement Date May 1 Dividend Quantity Description JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST Amount USD 13,316.75 EFTA01557579 05 Settlement Date May 1 JPMorgan Chase Hank 2002 Account Number: 0 FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 26 of 46 U S Dollar Activity by Date Type continued Quantity Description Purchase 11,000,000 J P MORGAN PRIME MONEY MARKET FUND INSTITUTIONAL SHARES CLASS (FUND 829) J.P.MORGAN SECURITIES INC AS AGENT @ 1.00 TRADE DATE 05/01/02 May 1 May 1 Dividend Purchase 3,174.53 J P MORGAN PRIME MONEY MARKET FUND INSTITUTIONAL SHARES CLASS (FUND 829) 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 04/30/02 May 1 May 3 Sale Write Option - 10,986,683.25 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST - 42,050,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION MAY 30, 2002 @ 8.41 WRITTEN FX OPTION PUT 42,050,000.00 NOK CALL 5,000,000.00 USD TRADE DATE 05/01/02 10,986,683.25 33,000.00 3,174.53 - 3,174.53 Amount USD - 11,000,000.00 EFTA01557580 05 Settlement Date May 3 JPMorgan Chase Bank 2002 Account Number: 0 FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 27 of 46 U S Dollar Activity by Date Type continued Quantity Description Write Option - 84,100,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION OCT 31, 2002 @ 8.41 KNOCK OUT @ 8.25 WRITTEN FX OPTION PUT 84,100,000.00 NOK CALL 10,000,000.00 USD TRADE DATE 05/01/02 May 3 Write Option - 41,850,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION MAY 30, 2002 @ 8.37 WRITTEN FX OPTION PUT 41,850,000.00 NOK CALL 5,000,000.00 USD TRADE DATE 05/01/02 May 3 Write Option - 5,000,000 GBP PUT USD CALL FX EUROPEAN STYLE OPTION OCT 31, 2002 @ 1.4625 KNOCK OUT @ 1.4758 WRITTEN FX OPTION PUT 5,000,000.00 GBP CALL 7,312,500.00 USD TRADE DATE 05/01/02 May 3 Purchase 262,450 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST - 262,450.00 68,325.00 39,000.00 Amount USD 122,125.00 EFTA01557581 05 Settlement Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 28 of 46 U S Dollar Activity by Date Type continued Quantity Description May 10 Write Option - 8,150,000 CHF PUT USD CALL FX EUROPEAN STYLE OPTION NOV 08, 2002 8 1.63 WRITTEN FX OPTION PUT 8,150,000.00 CHF CALL 5,000,000.00 USD TRADE DATE 05/07/02 May 10 Write Option - 8,137,500 CHF PUT USD CALL FX EUROPEAN STYLE OPTION AUG 08, 2002 8 1.6275 WRITTEN FX OPTION PUT 8,137,500.00 CHF CALL 5,000,000.00 USD TRADE DATE 05/07/02 May 10 Purchase May 13 Write Option 139,100 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST - 16,120,000 CHF PUT USD CALL FX EUROPEAN STYLE OPTION MAY 15, 2002 8 1.612 WRITTEN FX OPTION PUT 16,120,000.00 CHF CALL 10,000,000.00 USD TRADE DATE 05/08/02 May 13 Purchase May 13 Misc. Disbursement 2,000 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST TRANSFERRED BY WIRE TO CHASE MANHATTAN BANK/ST THOMAS FAO FINANCIAL TRUST COMPANY, INC. LETTER FROM CLIENT - 2,000.00 - 33,000.00 - 139,100.00 35,000.00 53,750.00 Amount USD 85,350.00 EFTA01557582 05 Settlement Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 29 of 46 U S Dollar Activity by Date Type continued Quantity Description May 14 Write Option - 66,560,000 SEX PUT USD CALL FX EUROPEAN STYLE OPTION MAY 17, 2002 a 10.24 WRITTEN FX OPTION PUT 66,560,000.00 SEX CALL 6,500,000.00 USD TRADE DATE 05/10/02 May 14 Purchase Opt 65,325,000 SEK CALL USD PUT FX EUROPEAN STYLE OPTION AUG 12, 2002 a 10.05 PURCHASED FX OPTION CALL 65,325,000.00 SEK PUT 6,500,000.00 USD TRADE DATE 05/10/02 May 14 Sale May 16 Write Option - 61,000 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST - 189,200,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION NOV 14, 2002 a 8.6 WRITTEN FX OPTION PUT 189,200,000.00 NOK CALL 22,000,000.00 USD TRADE DATE 05/14/02 May 16 Purchase May 17 Fwd FX Ctrct 482,000 8,021,500 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.604300000 TRADE 5/01/02 VALUE 5/17/02 - 482,000.00 - 5,000,000.00 61,000.00 482,000.00 - 82,000.00 Amount USD 21,000.00 EFTA01557583 05 Settlement Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 30 of 46 U S Dollar Activity by Date Type continued Quantity Description May 17 Fwd FX Ctrct 8,009,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.601800000 TRADE 5/01/02 VALUE 5/17/02 May 17 Fwd FX Ctrct 3,422,079.25 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.461100000 TRADE 5/01/02 VALUE 5/17/02 May 17 Fwd FX Ctrct 7,947,500 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.589500000 TRADE 5/06/02 VALUE 5/17/02 May 17 Fwd FX Ctrct 15,830,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.583000000 TRADE 5/07/02 VALUE 5/17/02 May 17 Fwd FX Ctrct 15,820,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.582000000 TRADE 5/07/02 VALUE 5/17/02 May 17 Fwd FX Ctrct - 7,978,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL CHF CONTRACT RATE : 1.595600000 TRADE 5/07/02 VALUE 5/17/02 May 17 Fwd FX Ctrct 7,961,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.592200000 TRADE 5/07/02 VALUE 5/17/02 Amount USD - 5,000,000.00 - 5,000,000.00 - 5,000,000.00 - 10,000,000.00 - 10,000,000.00 5,000,000.00 - 5,000,000.00 EFTA01557584 05 Settlement Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 31 of 46 U S Dollar Activity by Date Type continued Quantity Description May 17 Spot FX - 3,422,079.25 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL GBP SPOT RATE : 1.456600000 TRADE 5/15/02 VALUE 5/17/02 U S DOLLAR POUND STERLING May 17 Spot FX - 55,611,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.602000000 TRADE 5/15/02 VALUE 5/17/02 U S DOLLAR SWISS FRANC May 17 Sale May 20 Sale - 301,916.22 - 13,000,000 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) J.P.MORGAN SECURITIES INC AS AGENT @ 1.00 TRADE DATE 05/20/02 May 20 Misc. Disbursement FUNDS TRANSFERRED FROM PRN A/Ct PRN A/Ct LETTER FROM CLIENT May 21 Fwd FX Ctrct 41,520,000 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 8.304000000 TRADE 5/06/02 VALUE 5/21/02 - 5,000,000.00 - 13,000,000.00 Q78805001 TO Q30171005 34,713,483.14 Amount USD 4,984,600.64 301,916.22 13,000,000.00 EFTA01557585 05 Settlement Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 32 of 46 U S Dollar Activity by Date Type continued Quantity Description May 21 Fwd FX Ctrct 41,445,000 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 8.289000000 TRADE 5/06/02 VALUE 5/21/02 May 21 Fwd FX Ctrct 41,447,500 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 8.289500000 TRADE 5/07/02 VALUE 5/21/02 May 21 Fwd FX Ctrct 41,727,500 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 8.345500000 TRADE 5/07/02 VALUE 5/21/02 May 21 Fwd FX Ctrct - 83,615,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NOK CONTRACT RATE : 8.361500000 TRADE 5/07/02 VALUE 5/21/02 May 21 Spot FX - 82,525,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NOK SPOT RATE : 8.200000000 TRADE 5/17/02 VALUE 5/21/02 U S DOLLAR NORWEGIAN KRONE May 21 Purchase 64,024.39 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST - 64,024.39 Amount USD - 5,000,000.00 - 5,000,000.00 - 5,000,000.00 10,000,000.00 10,064,024.39 EFTA01557586 05 Settlement Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 33 of 46 U S Dollar Activity by Date Type continued Quantity Description May 22 write Option - 50,400,000 SEX PUT USD CALL FX EUROPEAN STYLE OPTION JUN 19, 2002 8 10.08 WRITTEN FX OPTION PUT 50,400,000.00 SEX CALL 5,000,000.00 USD TRADE DATE 05/17/02 May 22 Purchase Opt 11,250,000 CHF CALL USD PUT FX EUROPEAN STYLE OPTION FEB 20, 2003 8 1.5 PURCHASED FX OPTION CALL 11,250,000.00 CHF PUT 7,500,000.00 USD TRADE DATE 05/17/02 May 22 write Option - 12,000,000 CHF PUT USD CALL FX EUROPEAN STYLE OPTION NOV 20, 2002 8 1.6 KNOCK OUT 8 1.5615 WRITTEN FX OPTION PUT 12,000,000.00 CHF CALL 7,500,000.00 USD TRADE DATE 05/17/02 May 22 write Option - 50,400,000 SEX PUT USD CALL FX EUROPEAN STYLE OPTION JUN 19, 2002 8 10.08 WRITTEN FX OPTION PUT 50,400,000.00 SEX CALL 5,000,000.00 USD TRADE DATE 05/17/02 45,500.00 70,000.00 - 130,000.00 Amount USD 46,500.00 EFTA01557587 05 Settlement Date JPMorgan Chase Bank 2002 Account Number:I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 34 of 46 U S Dollar Activity by Date Type continued Quantity Description May 22 Write Option - 165,000,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION NOV 20, 2002 a 8.25 KNOCK OUT e 8.05 WRITTEN FX OPTION PUT 165,000,000.00 NOK CALL 20,000,000.00 USD TRADE DATE 05/20/02 May 22 Purchase Opt 280,000,000 NOK CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 a 8. PURCHASED FX OPTION CALL 280,000,000.00 NOK PUT 35,000,000.00 USD TRADE DATE 05/20/02 May 22 Write Option - 39,625,000 CHF PUT USD CALL FX EUROPEAN STYLE OPTION NOV 20, 2002 a 1.585 WRITTEN FX OPTION PUT 39,625,000.00 CHF CALL 25,000,000.00 USD TRADE DATE 05/20/02 May 22 Purchase Opt 37,500,000 CHF CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 a 1.5 PURCHASED FX OPTION CALL 37,500,000.00 CHF PUT 25,000,000.00 USD TRADE DATE 05/20/02 May 22 Sale - 215,750 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST 215,750.00 - 341,750.00 235,000.00 - 469,000.00 Amount USD 328,000.00 EFTA01557588 05 Settlement Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 35 of 46 U S Dollar Activity by Date Type continued Quantity Description May 24 Fwd FX Ctrct 3,422,079.25 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.456400000 TRADE 5/15/02 VALUE 5/24/02 May 24 Fwd FX Ctrct 55,611,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.601500000 TRADE 5/15/02 VALUE 5/24/02 May 24 Fwd FX Ctrct - 15,806,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL CHF CONTRACT RATE : 1.580600000 TRADE 5/20/02 VALUE 5/24/02 May 24 Spot FX - 217,500 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.574900000 TRADE 5/22/02 VALUE 5/24/02 U S DOLLAR SWISS FRANC May 24 Write Option - 20,000,000 AUD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 21, 2002 8 .5475 KNOCK OUT 8 .569 WRITTEN FX OPTION PUT 20,000,000.00 AUD CALL 10,950,000.00 USD TRADE DATE 05/22/02 Amount USD - 4,983,916.22 - 34,724,320.94 10,000,000.00 138,104.00 141,000.00 EFTA01557589 05 Settlement Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 36 of 46 U S Dollar Activity by Date Type continued Quantity Description May 24 Purchase Opt 20,000,000 AUD CALL USD PUT FX AMERICAN STYLE OPTION NOV 21, 2002 a .575 PURCHASED FX OPTION CALL 20,000,000.00 AUD PUT 11,500,000.00 USD TRADE DATE 05/22/02 May 24 Purchase May 24 Spot FX 560,108.67 - 39,805,000 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.581700000 TRADE 5/23/02 VALUE 5/24/02 U S DOLLAR SWISS FRANC May 24 Spot FX - 3,422,079.25 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL GBP SPOT RATE : 1.453000000 TRADE 5/23/02 VALUE 5/24/02 U S DOLLAR POUND STERLING May 24 Spot FX 217,500 SPOT CURRENCY TRANSACTION - BUY BUY CHF SELL USD SPOT RATE : 1.583600000 TRADE 5/24/02 VALUE 5/24/02 SWISS FRANC U S DOLLAR - 137,345.28 - 560,108.67 25,165,960.68 Amount USD - 149,000.00 4,972,281.15 EFTA01557590 05 Settlement Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 37 of 46 U S Dollar Activity by Date Type continued Quantity Description May 28 Write Option - 102,000,000 SEK PUT USD CALL FX EUROPEAN STYLE OPTION AUG 26, 2002 @ 10.2 WRITTEN FX OPTION PUT 102,000,000.00 SEK CALL 10,000,000.00 USD TRADE DATE 05/23/02 May 28 Purchase Opt 92,500,000 SEK CALL USD PUT FX AMERICAN STYLE OPTION NOV 26, 2002 @ 9.25 PURCHASED FX OPTION CALL 92,500,000.00 SEK PUT 10,000,000.00 USD TRADE DATE 05/23/02 May 28 Sale May 29 Purchase - 128,045.28 876,429.34 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) J.P.MORGAN SECURITIES INC AS AGENT @ 1.00 TRADE DATE 05/29/02 May 29 Sale May 29 Misc. Disbursement - 894,429.34 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST TRANSFERRED BY WIRE TO CHASE MANHATTAN BANK/ST THOMAS FAO FINANCIAL TRUST COMPANY, INC. LETTER FROM CLIENT 894,429.34 - 18,000.00 128,045.28 - 876,429.34 - 78,700.00 Amount USD 88,000.00 EFTA01557591 05 Settlement Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 38 of 46 U S Dollar Activity by Date Type continued Quantity Description May 30 Free Delivery 84,100,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION OCT 31, 2002 @ 8.41 KNOCK OUT @ 8.25 FREE DELIVERY OF WRITTEN FX OPTION TRADE DATE 05/30/02 May 30 Free Delivery 5,000,000 GBP PUT USD CALL FX EUROPEAN STYLE OPTION OCT 31, 2002 @ 1.4625 KNOCK OUT @ 1.4758 FREE DELIVERY OF WRITTEN FX OPTION TRADE DATE 05/30/02 May 30 Free Delivery 8,150,000 CHF PUT USD CALL FX EUROPEAN STYLE OPTION NOV 08, 2002 @ 1.63 FREE DELIVERY OF WRITTEN FX OPTION TRADE DATE 05/30/02 May 30 Free Delivery 8,137,500 CHF PUT USD CALL FX EUROPEAN STYLE OPTION AUG 08, 2002 @ 1.6275 FREE DELIVERY OF WRITTEN FX OPTION TRADE DATE 05/30/02 May 30 Free Delivery - 65,325,000 SEX CALL USD PUT FX EUROPEAN STYLE OPTION AUG 12, 2002 @ 10.05 FREE DELIVERY OF PURCHASED OPTION TRADE DATE 05/30/02 Amount USD EFTA01557592 05 Settlement Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 39 of 46 U S Dollar Activity by Date Type continued Quantity Description May 30 Free Delivery 189,200,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION NOV 14, 2002 @ 8.6 FREE DELIVERY OF WRITTEN FX OPTION TRADE DATE 05/30/02 May 30 Free Delivery - 11,250,000 CHF CALL USD PUT FX EUROPEAN STYLE OPTION FEB 20, 2003 @ 1.5 FREE DELIVERY OF PURCHASED OPTION TRADE DATE 05/30/02 May 30 Free Delivery 12,000,000 CHF PUT USD CALL FX EUROPEAN STYLE OPTION NOV 20, 2002 @ 1.6 KNOCK OUT @ 1.5615 FREE DELIVERY OF WRITTEN FX OPTION TRADE DATE 05/30/02 May 30 Free Delivery 50,400,000 SEK PUT USD CALL FX EUROPEAN STYLE OPTION JUN 19, 2002 @ 10.08 FREE DELIVERY OF WRITTEN FX OPTION TRADE DATE 05/30/02 May 30 Free Delivery 50,400,000 SEK PUT USD CALL FX EUROPEAN STYLE OPTION JUN 19, 2002 @ 10.08 FREE DELIVERY OF WRITTEN FX OPTION TRADE DATE 05/30/02 Amount USD EFTA01557593 05 Settlement Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 40 of 46 U S Dollar Activity by Date Type continued Quantity Description May 30 Free Delivery 165,000,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION NOV 20, 2002 @ 8.25 KNOCK OUT @ 8.05 FREE DELIVERY OF WRITTEN FX OPTION TRADE DATE 05/30/02 May 30 Free Delivery - 280,000,000 NOK CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 @ 8. FREE DELIVERY OF PURCHASED OPTION TRADE DATE 05/30/02 May 30 Free Delivery 39,625,000 CHF PUT USD CALL FX EUROPEAN STYLE OPTION NOV 20, 2002 @ 1.585 FREE DELIVERY OF WRITTEN FX OPTION TRADE DATE 05/30/02 May 30 Free Delivery - 37,500,000 CHF CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 @ 1.5 FREE DELIVERY OF PURCHASED OPTION TRADE DATE 05/30/02 May 30 Free Delivery 20,000,000 AUD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 21, 2002 @ .5475 KNOCK OUT @ .569 FREE DELIVERY OF WRITTEN FX OPTION TRADE DATE 05/30/02 Amount USD EFTA01557594 05 Settlement Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 41 of 46 U S Dollar Activity by Date Type continued Quantity Description May 30 Free Delivery - 20,000,000 AUD CALL USD PUT FX AMERICAN STYLE OPTION NOV 21, 2002 a .575 FREE DELIVERY OF PURCHASED OPTION TRADE DATE 05/30/02 May 30 Free Delivery 102,000,000 SEK PUT USD CALL FX EUROPEAN STYLE OPTION AUG 26, 2002 a 10.2 FREE DELIVERY OF WRITTEN FX OPTION TRADE DATE 05/30/02 May 30 Free Delivery - 92,500,000 SEX CALL USD PUT FX AMERICAN STYLE OPTION NOV 26, 2002 a 9.25 FREE DELIVERY OF PURCHASED OPTION TRADE DATE 05/30/02 Amount USD EFTA01557595 05 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY, INC. 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio May 01, 2002 - May 31, 2002 Page 42 of 46 In Case of Errors or Questions About Your Electronic Transfers. 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