EFTA01552460.pdf

07 2002 Confidential FINANCIAL TRUST COMPANY INC Page 1 of 52 J.P. Morgan Portfolios July 1 - July 31, 2002 Table of Contents Page Account Summary Asset Account Portfolio Margin Account Portfolio 0 JPMCB JPMSI 2 3 49 000000.0000.00.0000.000.000000000.000000 FINANCIAL TRUST COMPANY ATTN: JEFFREY E EPSTEIN C/O AMERICAN YACHT HARBOR 6100 RED HOOK, QUARTERS ►53 ST THOMAS 00802 US VIRGIN ISLDS EFTA01552460 07 2002 FINANCIAL TRUST COMPANY INC Portfolio Summary July 01, 2002 - July 31, 2002 Page 2 of 52 Portfolio Summary Net Worth Summary Asset Portfolio USD Assets(Long) Cash fi Short Term Equities Options Liabilities (Short) Cash S Short Term Options Total FX Gain/Loss Accrued Income Total Net Worth Income Summary Dividends Total 78,281,941.85 57,697,669.43 20,009,950.78 574,321.64 - 5,266,533.34 - 0.34 - 5,266,533.00 73,015,408.51 - 4,030.5080,772.98 73,092,150.99 Margin Portfolio USD 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 .00 0.00 0.00 78,281,941.85 57,697,669.43 20,009,950.78 574,321.64 - 5,266,533.34 - 0.34 - 5,266,533.00 73,015,408.51 - 4,030.5080,772.98 73,092,150.99 This Period 37,254.08 37,254.08 Year to Date 47,647.96 47,647.96 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 EFTA01552461 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 3 of 52 Asset Account Portfolio July 1 - July 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 20 EFTA01552462 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 4 of 52 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 74% Cash and Short Term 26% Equities Market Value USD Jul 31 Cash S Short Term Equities Options Total Foreign Exchange Accrued Income Total Portfolio Value 57,697,669.09 20,009,950.78 - 4,692,211.36 73,015,408.51 - 4,030.50 80,772.9E 73,092,150.99 Income Summary Dividends Total Net Gain/Loss Summary Net Short Term Gain/Loss Total Market Value USD Jun 30 52,973,536.43 24,642,402.40 3,144,730.14 80,760,668.97 2,105,285.89 37,254.0E 82,903,208.94 Tax Cost USD 57,697,669.09 - 4,389,422.00 53,308,247.09 Estimated Annual Income USD 961,316.94 961,316.94 Yield 1.7 0.0 N/A N/A 1.3 This Period USD 37,254.0E 37,254.0E Year to Date USD* 47,647.96 47,647.96 Realized This Period USD Realized Year to Date USD* 4,460,656.58 4,460,656.58 *Year to date information is calculated on a calendar year basis. Exchange Rates EFTA01552463 Spot Rates as of July 31, 2002 Market value of Options is not included in pie chart. Currency CHF GBP JPY NOK Exchange Rate 1.4819 1.5622 119.7600 7.6186 8,775,699.13 8,775,699.13 Unrealized USD - 302,789.06 - 302,789.06 EFTA01552464 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 5 of 52 Exchange Rates Spot Rates as of July 31, 2002 Currency SEK Exchange Rate 9.5087 EFTA01552465 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 6 of 52 Cash and Short Term Summary by Maturity Current Market Value USD Adjusted Cash Balance Less Than 3 Months Total 8,571,675.10 49,125,993.99 57,697,669.09 Estimated Annual Income USD 126,175.05 835,141.89 961,316.94 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: 1.47% POUND STERLING SWISS FRANC PROCEEDS FROM PENDING SALES Adjusted Cash Balance USD 7,734,425.05 1.00 1.00 7,734,425.05 7,734,425.05 8,599.96 GBP CHF USD 0.25 - 0.50 837,250 1.56 1.470588 1.00 1.56215 1.4819 1.00 0.39 - 0.34 837,250.00 8,571,675.10 0.39 - 0.34 837,250.00 8,571,675.10 8,599.96 12,324.32 113,850.73 1.47 CurrenCy/ Unit Cost Adjusted Account Type Quantity Original Market Price Tax Cost Adjusted EFTA01552466 Original Market Value USD Accrued Interest USD Unrealized Gain/Loss USD Estimated Current Annual Yield/ Income USD YTM % Current N/A N/A 1.47 126,175.05 1.47 EFTA01552467 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 7 of 52 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: 1.71% 62826N-77-0 Total Cash and Short Term 57,697,669.09 57,697,669.09 80,772.98 0.00 961,316.94 1.67 USD 49,125,993.99 1.00 1.00 49,125,993.99 49,125,993.99 72,173.02 835,141.89 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 EFTA01552468 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 8 of 52 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 25.01 20,009,950.78 20,009,950.78 N/A 0.00 N/A 0.0 EFTA01552469 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 9 of 52 Options Foreign Exchange Description Cusip NOK PUT USD CALL FX EUROPEAN STYLE OPTION NOV 14, 2002 8 8.6 XNOKPA-AT-Z CHF CALL USD PUT FX EUROPEAN STYLE OPTION FEB 20, 2003 8 1.5 XCHFCA-BG-2 P NOK CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 8 8. XNOKCA-AJ-Z SEK CALL USD PUT FX AMERICAN STYLE OPTION NOV 27, 2002 8 9.25 XSEKCA-AM-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 NOK - 158,000,000 USD - 20,000,000.00 USD - 632,000.00 - 632,000.00 - 424,694.52 207,305.48 NOK - 38,750,000 USD - 5,000,000.00 USD - 314,600.00 - 314,600.00 - 219,442.41 95,157.59 SEK 92,500,000 USD 10,000,000.00 USD 83,900.00 83,900.00 121,165.75 37,265.75 NOK O USD 0.00 USD 0.00 0.00 N/A 0.00 CHF 11,250,000 USD 7,500,000.00 USD 130,000.00 130,000.00 336,390.64 206,390.64 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 EFTA01552470 - 482,000.00 - 482,000.00 - 28,644.88 453,355.12 EFTA01552471 07 Cusip JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 10 of 52 Foreign Exchange Description SEK PUT USD CALL FX EUROPEAN STYLE OPTION DEC 20, 2002 @ 9.21 XSEKPA-BL-2 NOK PUT USD CALL FX EUROPEAN STYLE OPTION DEC 20, 2002 @ 7.62 XNOKPA-BH-2 CHF PUT USD CALL FX EUROPEAN STYLE OPTION JAN 07, 2003 @ 1.495 XCHFPA-CA-2 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 XNOKPA-BX-2 NOK CALL USD PUT FX AMERICAN STYLE OPTION JAN 15, 2003 @ 7. XNOKCA-AT-2 NOK 175,000,000 USD 25,000,000.00 USD 319,697.00 319,697.00 91,661.50 - 228,035.50 NOK - 183,750,000 USD - 25,000,000.00 USD - 419,269.00 - 419,269.00 - 1,584,535.05 - 1,165,266.05 NOK - 127,755,000 USD - 17,000,000.00 USD - 781,090.00 - 781,090.00 - 909,285.99 - 128,195.99 SEK - 156,570,000 USD - 17,000,000.00 USD - 696,630.00 - 696,630.00 - 980,103.15 - 283,473.15 CHF - 25,415,000 USD - 17,000,000.00 USD - 539,090.00 - 539,090.00 - 359,094.13 179,995.87 NOK - 129,540,000 USD - 17,000,000.00 USD - 750,880.00 - 750,880.00 - 371,170.96 379,709.04 Counter Amount Currency continued SEK - 64,470,000 USD - 7,000,000.00 USD - 339,850.00 - 339,850.00 - 389,561.91 - 49,711.91 EFTA01552472 Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01552473 07 Cusip JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 11 of 52 Foreign Exchange Description JPY PUT USD CALL FX EUROPEAN STYLE OPTION OCT 28, 2002 8 125. XJPYPA-IW-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. - 4,389,422.00 - 4,692,211.36 - 302,789.06 Counter Amount Currency continued JPY 875,000,000 USD 7,000,000.00 USD 32,390.00 32,390.00 25,103.75 - 7,286.25 Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD Important Information about Pricing and Valuations Prices, some of which are provided by pricing services or other sources which we deem reliable, are not guaranteed for accuracy or as realizable values. Valuations of over-the-counter derivative transactions, including certain derivatives-related deposi t products, have been prepared on a mid-market basis. These valuations are indicative values as of t he close of business of the date of this statement and, except as otherwise agreed in writing, these valuations do not represent the actual terms at wh ich transactions or securities could be bought or sold or new transactions could be entered into, or the actual terms on which existing transactions or securities could be liquidated as of the date of this statement. We do not warrant their completenes s or accuracy. These valuations are derived from proprietary models based upon well recognized finan cial principles and we have, when necessary to calculate the present value of future cash flows, made reasonable estimates about relevant future ma rket conditions. Valuations based on other models or different assumptions may yield different resul ts. Morgan expressly disclaims any responsibility for (1) the accuracy of the models or estimates used in deriving the valuations, (2) any errors or o missions in computing or disseminating the valuations, and (3) any uses to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. Please refer to the trade confirmation for d etails of each transaction. EFTA01552474 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 12 of 52 Outstanding Foreign Exchange Contracts Net Currency Exposure Summary Swiss Franc Pound Sterling Norwegian Krone Swedish Krona U S Dollar Value in Currency 29,832,000.00 10,000,000.00 153,575,000.00 182,800,000.00 - 74,898,913.18 Gain/Loss Summary Total Unrealized Closed Value in USD Total Unrealized Open Total Unrealized Gain/Loss 547,500.00 - 551,530.50 - 4,030.50 Foreign Exchange Contracts Settlement Date Trade Date SPECULATIVE SWISS FRANC - U S DOLLAR Jul. 11 02 Jul. 17 02 CHF Jun. 21 02 sep. 25 02 CHF Jul. 22 02 Sep. 25 02 CHF Jul. 26 02 Sep. 25 02 CHF Total Open - 14,975,000.00 USD 15,120,000.00 USD 44,327,000.00 USD - 14,640,000.00 USD 29,832,000.00 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 10,101,180.44 - 10,000,000.00 - 30,517,728.06 10,000,000.00 - 20,416,547.62 - 14,925,000.00 7,697,500.00 7,775,000.00 547,500.00 - 15,534,000.00 - 14,986,500.00 1.4825 1.512 1.4525 1.464 1.482519 1.479427 1.479427 1.479427 EFTA01552475 10,101,180.44 10,220,176.31 29,962,285.41 10,000,000.00 60,283,642.16 1.4925 1.5395 1.555 1.5534 1.55723 1.55723 1.55723 1.557143 15,572,300.00 7,697,500.00 7,775,000.00 31,044,800.00 15,571,430.00 46,616,230.00 10,101,051.21 10,000,000.00 30,517,728.06 9,895,726.27 60,514,505.54 14,925,000.00 7,786,150.00 7,786,150.00 30,497,300.00 15,534,000.00 46,031,300.00 129.23 220,176.31 - 555,442.65 104,273.73 - 230,863.38 647,300.00 - 88,650.00 - 11,150.00 547,500.00 37,430.00 584,930.00 Currency Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD EFTA01552476 07 Trade Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 13 of 52 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 7.682647 7.682647 10,016,079.01 9,973,775.88 19,989,854.89 9.38 9.3725 9.546732 9.546732 9,825,351.70 9,322,561.85 19,147,913.55 146,037,640.60 10,000,000.00 10,000,000.00 20,000,000.00 10,000,000.00 9,495,865.56 19,495,865.56 146,041,671.10 16,079.01 - 26,224.12 - 10,145.11 - 174,648.30 - 173,303.71 - 347,952.01 - 4,030.50 EFTA01552477 EFTA01552478 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 14 of 52 Trade Activity Realized Gain/Loss Summary Short Term Gain/Loss Long Term Gain/Loss Foreign Exchange Gains/Losses Note: indicates Short Term Realized Gain/Loss indicates Long Term Realized Gain/Loss S L Capital gains and losses on sales with missing or incomplete tax cost are identified with N/A. Trade Activity by Type Settlement Date Trade Date Settled Jun 28 Jul 1 Jul 1 Jul 3 Jul 1 Jul 3 Purchase Sell Option Sell Option Jul 9 Jul 11 Sell Option J P MORGAN PRIME MONEY MARKET FUND INSTITUTIONAL SHARES CLASS (FUND 829) AUD CALL USD PUT FX AMERICAN STYLE OPTION NOV 27, 2002 8 .574 AUD CALL USD PUT FX AMERICAN STYLE OPTION NOV 21, 2002 8 .575 NOK CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 8 8. USD USD USD USD 34,371.31 - 20,000,000 - 20,000,000 - 80,000,000 1.00 - 34,371.31 160,789.00 150,850.00 821,000.00 - 176,000.00 - 149,000.00 - 134,000.00 - 15,211.00 S 1,850.00 S 687,000.00 S Type Amount USD 3,776,437.97 0.00 636,250.00 Realized Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD EFTA01552479 07 Trade Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 15 of 52 Trade Activity by Type Settlement Date Type Settled continued Jul 9 Jul 9 continued Realized Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD Expired Opt NOK PUT USD CALL NOK FX EUROPEAN STYLE OPTION JAN 06, 2003 @ 7.65 KNOCK OUT @ 7.40 Issued in USD Jul 10 Jul 12 Buy-Back Opt CHF PUT USD CALL Jul 10 Jul 12 Sell Option Jul 11 Jul 15 Sell Option Jul 11 Jul 15 Sell Option Jul 11 Jul 15 Sell Option Jul 11 Jul 15 Buy-Back Opt Jul 15 Jul 17 Purchase Opt Jul 15 Jul 17 Write Option FX EUROPEAN STYLE OPTION AUG 08, 2002 @ 1.6275 NOK CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 @ 8. NOK CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 @ 8. SEK CALL USD PUT FX EUROPEAN STYLE OPTION AUG 12, 2002 @ 10.05 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 NOK CALL USD PUT FX AMERICAN STYLE OPTION JAN 15, 2003 @ 7. NOK PUT USD CALL FX EUROPEAN STYLE OPTION JAN 15, 2003 @ 7.35 KNOCK OUT @ 7.22 USD USD USD USD USD USD USD USD 8,137,500 - 40,000,000 - 40,000,000 - 65,325,000 - 92,500,000 102,000,000 175,000,000 EFTA01552480 - 183,750,000 1.279 1.677 - 2,000.00 381,784.00 389,500.00 386,884.00 172,654.00 - 10,669.00 - 319,697.00 419,269.00 53,750.00 - 67,000.00 - 67,000.00 - 82,000.00 - 78,700.00 88,000.00 51,750.00 S 314,784.00 S 322,500.00 S 304,884.00 S 93,954.00 S 77,331.00 S 38,250,000 0.00 125,000.00 125,000.00 S EFTA01552481 07 Trade Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 16 of 52 Trade Activity by Type Settlement Date Type Settled continued Jul 18 Jul 22 Buy-Back Opt GBP CALL USD PUT Jul 26 Jul 30 Sell Option Jul 26 Jul 30 Buy-Back Opt Jul 26 Jul 30 Purchase Opt FX EUROPEAN STYLE OPTION JUL 18, 2002 8 1.49 CHF CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 8 1.5 CHF PUT USD CALL FX EUROPEAN STYLE OPTION NOV 08, 2002 8 1.63 JPY PUT USD CALL FX EUROPEAN STYLE OPTION OCT 28, 2002 8 125. Trade Date Estimated Settlement Date Pending Jul 31 Aug 2 Sell Option NOK CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 8 8. Trade Date Settlement Date Counter Currency Settled Foreign Exchange Contracts SPECULATIVE Jul 10 02 Jul 22 02 Jul 15 02 Jul 24 02 SWISS FRANC 13,287,655.79 30,454,826.52 - U S DOLLAR - 19,765,388.00 - 44,327,000.00 1.487500 1.455500 0.981849 1.000103 13,287,655.79 - 13,533,302.29 30,454,826.52 - 30,451,688.24 - 245,646.50 3,138.28 Amount Currency Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD EFTA01552482 USD - 120,000,000 0.00 837,250.00 - 201,000.00 Realized Gain/Loss Type Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost USD USD USD USD USD 10,000,000 - 37,500,000 8,150,000 875,000,000 0.46 - 740,000.00 928,250.00 - 12,000.00 - 32,390.00 76,655.00 - 341,750.00 85,350.00 - 663,345.00 S 586,500.00 S 73,350.00 S continued Realized Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD EFTA01552483 07 Date JPMorgan Chase Bank 2002 m Account Nutuber: FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 17 of 52 Trade Activity by Type Settlement Date continued Settled Foreign Exchange Contracts Trade Currency Jul 8 02 Jul 8 02 Jul 8 02 Jul 10 02 Jul 10 02 Jul 10 02 Jun 20 02 Jul 15 02 Jun 26 02 Jul 15 02 Jun 26 02 Jul 15 02 Jun 26 02 Jul 15 02 Jun 27 02 Jul 15 02 Jun 28 02 Jul 15 02 Jun 28 02 Jul 15 02 Jul 1 02 Jul 1 02 Jul 1 02 Jul 1 02 Jul 1 02 Jul 10 02 Jul 10 02 Jul 10 02 Jul 8 02 Jul 11 02 Jul 15 02 Jul 15 02 Jul 15 02 Jul 15 02 Jul 15 02 Jul 15 02 Jul 15 02 Jul 15 02 Jul 17 02 Jul 17 02 Jun 20 02 Jul 24 02 Jul 15 02 Jul 24 02 Counter Amount Currency continued CHF 14,975,000.00 USD - 10,000,000.00 CHF 4,491,900.00 USD - 3,000,000.00 CHF- 19,466,900.00 USD 13,051,019.04 CHF 39,587,500.00 USD - 25,525,016.37 CHF 11,201,250.00 USD - 7,500,000.00 CHF 26,048,697.50 USD - 17,500,000.00 CHF 29,667,940.00 USD - 20,000,000.00 CHF - 11,960,000.00 USD CHF - 44,592,000.00 USD 30,000,000.00 CHF - 29,868,000.00 USD 20,000,000.00 CHF 29,560,000.00 USD - 20,000,000.00 CHF 14,787,000.00 USD - 10,000,000.00 CHF CHF 7,397,500.00 USD - 5,000,000.00 7,397,500.00 USD - 5,000,000.00 CHF 14,800,000.00 USD - 10,000,000.00 CHF - 29,680,000.00 USD 20,000,000.00 CHF - 29,660,000.00 USD 20,000,000.00 CHF - 14,922,000.00 USD 10,000,000.00 CHF 14,975,000.00 USD - 10,000,000.00 CHF - 14,975,000.00 USD 10,101,180.44 EFTA01552484 CHF 15,257,000.00 USD - 10,000,000.00 CHF 29,070,000.00 USD - 20,000,000.00 8,000,535.15 1.497500 1.497300 1.491600 1.527000 1.493500 1.488497 1.483397 1.494900 1.486400 1.493400 1.478000 1.478700 1.479500 1.479500 1.480000 1.484000 1.483000 1.492200 1.497500 1.482500 1.525700 1.453500 1.497500 1.497300 1.497454 1.460500 1.460500 1.460500 1.460500 1.460500 1.460500 1.460500 1.460500 1.460500 1.460500 1.460500 1.460500 1.460500 1.460500 1.460500 1.453200 1.453200 1.455650 1.455650 - 10,000,000.00 - 3,000,000.00 10,000,000.00 3,000,000.00 13,051,019.04 - 13,000,000.00 - 25,925,016.37 - 7,500,000.00 - 17,500,000.00 - 20,000,000.00 8,000,535.15 30,000,000.00 - 30,532,009.58 20,000,000.00 - 20,450,530.64 - 20,000,000.00 - 10,000,000.00 - 5,000,000.00 - 5,000,000.00 - 10,000,000.00 20,000,000.00 - 20,321,807.59 20,000,000.00 - 20,308,113.66 10,000,000.00 - 10,217,048.95 - 10,000,000.00 10,101,180.44 - 10,304,844.48 - 10,000,000.00 - 20,000,000.00 51,019.04 27,105,443.34 7,669,462.51 17,835,465.59 20,313,550.15 - 8,188,976.37 20,239,643.95 10,124,614.85 EFTA01552485 5,065,046.21 5,065,046.21 10,133,515.91 10,304,844.48 10,481,228.31 19,970,459.93 1,180,426.97 169,462.51 335,465.59 313,550.15 - 188,441.22 - 532,009.58 - 450,530.64 239,643.95 124,614.85 65,046.21 65,046.21 133,515.91 - 321,807.59 - 308,113.66 - 217,048.95 304,844.48 - 203,664.04 481,228.31 - 29,540.07 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD EFTA01552486 07 Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 18 of 52 Trade Activity by Type Settlement Date continued Settled Foreign Exchange Contracts Trade Currency Counter Amount Currency continued EURO CURRENCY - POUND STERLING Jun 20 02 Jul 15 02 Jul 10 02 Jul 15 02 EUR 10,000,000.00 GBP - 6,432,000.00 EUR - 10,000,000.00 GBP EURO CURRENCY - U S DOLLAR Jun 26 02 Jul 15 02 Jul 10 02 Jul 15 02 POUND STERLING - U S DOLLAR Jun 26 02 Jul 15 02 Jul 10 02 Jul 10 02 Jul 15 02 Jul 15 02 Jun 20 02 Jul 18 02 Jul 12 02 Jul 18 02 Jul 18 02 Jul 18 02 6,375,000.00 1.554726 1.568627 1.006158 0.638830 1.006150 1.546300 EUR 20,000,000.00 USD - 19,751,760.00 EUR - 20,000,000.00 USD 19,800,000.00 GBP 10,000,000.00 USD - 15,301,310.00 GBP - 10,000,000.00 USD 15,462,000.00 GBP GBP GBP 57,000.00 USD 5,000,000.00 USD - 7,480,000.00 5,000,000.00 USD - 7,740,000.00 GBP - 10,000,000.00 USD 15,640,000.00 NORWEGIAN KRONE - U S DOLLAR Jun 20 02 Jul 15 02 Jun 26 02 Jul 15 02 Jun 27 02 Jul 15 02 Jul 9 02 Jul 9 02 Jul 15 02 Jul 15 02 SWEDISH KRONA - U S DOLLAR Jun 20 02 Jul 15 02 NOK 82,525,000.00 USD - 10,759,452.41 NOK 149,341,580.00 USD - 20,000,000.00 NOK - 75,150,000.00 USD 1.012568 1.010101 - 88,122.00 1.530131 1.546200 1.546000 1.496000 EFTA01552487 1.548000 1.564000 9,977,429.63 NOK - 110,572,500.00 USD 15,000,000.00 NOK - 46,144,080.00 USD SEK 68,194,000.00 USD - 7,258,541.78 6,258,097.24 7.670000 7.467079 7.532000 7.371500 7.373500 9.395000 1.006150 1.006150 1.565350 1.557892 1.546000 1.569800 1.577500 1.573650 7.325200 7.325200 7.325200 7.325200 7.325200 9.205900 10,061,500.01 - 10,068,331.28 - 10,061,500.01 9,857,662.62 - 6,831.27 - 203,837.39 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD - 19,751,760.00 20,123,000.02 19,800,000.00 - 20,123,000.02 - 15,301,310.00 15,653,500.13 15,462,000.00 - 15,578,922.07 - 88,122.00 - 7,480,000.00 - 7,740,000.00 88,122.00 7,849,000.05 7,887,500.01 15,640,000.00 - 15,736,500.06 - 10,759,452.41 - 20,000,000.00 11,265,904.00 20,387,372.35 9,977,429.63 - 10,259,105.55 15,000,000.00 - 15,094,809.69 6,258,097.24 - 7,258,541.78 369,000.05 147,500.01 - 96,500.06 - 6,299,361.10 7,407,640.75 506,451.59 387,372.35 - 281,675.92 - 94,809.69 - 41,263.86 149,098.97 371,240.02 - 323,000.02 352,190.13 - 116,922.07 EFTA01552488 EFTA01552489 07 Date JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 19 of 52 Trade Activity by Type Settlement Date continued Settled Foreign Exchange Contracts Trade Currency Jun 26 02 Jul 15 02 Jun 26 02 Jul 15 02 Jun 27 02 Jul 15 02 Jul 12 02 Jul 12 02 Jul 15 02 Jul 15 02 SEK Counter Amount Currency continued 9,249,000.00 USD - 1,000,000.00 SEK 184,388,760.00 USD - 20,000,000.00 SEK - 82,890,000.00 USD SEK - 89,941,760.00 USD SEK - 89,000,000.00 USD 8,989,263.64 9,612,243.24 9,534,011.78 9.249000 9.219438 9.221000 9.357000 9.335000 9.205900 9.205900 9.205900 9.205900 9.205900 - 1,000,000.00 - 20,000,000.00 8,989,263.64 9,612,243.24 9,534,011.78 1,004,681.78 20,029,411.57 - 9,004,008.29 - 9,770,012.71 - 9,667,713.09 4,681.78 29,411.57 - 14,744.65 - 157,769.47 - 133,701.31 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD EFTA01552490 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 20 of 52 Account Transactions by Currency Euro Currency Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Foreign Exchange Ending Balance Euro Currency Activity by Date Settlement Date Jul 15 Type Fwd FX Ctrct Quantity Description - 6,432,000 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL GBP CONTRACT RATE : 0.643200000 TRADE 6/20/02 VALUE 7/15/02 Jul 15 Spot FX 6,375,000 SPOT CURRENCY TRANSACTION - SALE BUY GBP SELL EUR SPOT RATE : 1.014439262 TRADE 7/10/02 VALUE 7/15/02 POUND STERLING EURO PRINCIPAL CURRENCY .00 30,000,000.00 - 30,000,000.00 .00 60,000,000.00 - 60,000,000.00 Amount to Date Realized Amount Gain/Loss USD 10,000,000.00 10,061,500.01 Amount USD - 10,000,000.00 - 9,857,662.62 EFTA01552491 07 Date Jul 15 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 21 of 52 Euro Currency Activity by Date Settlement continued Realized Type Spot FX Quantity Description 19,800,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL EUR SPOT RATE : 0.990000000 TRADE 7/10/02 VALUE 7/15/02 U S DOLLAR EURO PRINCIPAL CURRENCY Jul 15 Fwd FX Ctrct - 19,751,760 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL USD CONTRACT RATE : 0.987588000 TRADE 6/26/02 VALUE 7/15/02 20,000,000.00 20,123,000.02 Gain/Loss USD - 20,000,000.00 - 19,800,000.00 Amount Amount USD EFTA01552492 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 22 of 52 Account Transactions by Currency Norwegian Krone Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Foreign Exchange Ending Balance Foreign Exchange Gains/Losses Norwegian Krone Activity by Date Settlement Date Jul 1 Type Spot FX Quantity Description 10,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NOK SPOT RATE : 7.515000000 TRADE 6/27/02 VALUE 7/01/02 U S DOLLAR NORWEGIAN KRONE Jul 1 Spot FX - 10,000,000 SPOT CURRENCY TRANSACTION - BUY BUY NOK SELL USD SPOT RATE : 7.515000000 TRADE 6/27/02 VALUE 7/01/02 NORWEGIAN KRONE U S DOLLAR 75,150,000.00 10,000,000.00 .00 307,016,580.00 - 307,016,580.00 .00 - .01 472,165,580.00 - 472,165,580.00 Amount to Date Realized Amount Gain/Loss USD - 75,150,000.00 - 10,000,000.00 Amount USD EFTA01552493 07 Date Jul 15 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 23 of 52 Norwegian Krone Activity by Date Settlement continued Realized Type Fwd FX Ctrct Quantity Description - 10,759,452.41 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 7.670000000 TRADE 6/20/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct 9,977,429.63 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NOK CONTRACT RATE : 7.532000000 TRADE 6/27/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct 15,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NOK CONTRACT RATE : 7.371500000 TRADE 7/09/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct 6,258,097.24 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NOK CONTRACT RATE : 7.373500000 TRADE 7/09/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct - 20,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY NOK SELL USD CONTRACT RATE : 7.467079000 TRADE 6/26/02 VALUE 7/15/02 - 0.01 Gain/Loss USD 82,525,000.00 11,265,904.00 Amount Amount USD - 75,150,000.00 - 10,259,105.55 - 110,572,500.00 - 15,094,809.69 - 46,144,080.00 - 6,299,361.10 149,341,580.00 20,387,372.35 EFTA01552494 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 24 of 52 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 Jul 15 Type Fwd FX Ctrct Quantity Description 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL GBP CONTRACT RATE : 0.643200000 TRADE 6/20/02 VALUE 7/15/02 Jul 15 Spot FX 15,462,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL GBP SPOT RATE : 1.546200000 TRADE 7/10/02 VALUE 7/15/02 U S DOLLAR POUND STERLING .25 26,432,000.00 - 26,432,000.00 .25 47,968.61 49,063,079.25 - 49,063,079.00 Amount to Date Realized Amount Gain/Loss USD 47,968.61 - 6,432,000.00 - 10,068,331.28 Amount USD - 10,000,000.00 - 15,462,000.00 EFTA01552495 07 Date Jul 15 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 25 of 52 Pound Sterling Activity by Date Settlement continued Realized Type Spot FX Quantity Description - 10,000,000 SPOT CURRENCY TRANSACTION - BUY BUY GBP SELL EUR SPOT RATE : 0.646705030 TRADE 7/10/02 VALUE 7/15/02 POUND STERLING EURO PRINCIPAL CURRENCY Jul 15 Spot FX - 88,122 SPOT CURRENCY TRANSACTION - BUY BUY GBP SELL USD SPOT RATE : 1.546000000 TRADE 7/10/02 VALUE 7/15/02 POUND STERLING U S DOLLAR Jul 15 Fwd FX Ctrct - 15,301,310 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.530131000 TRADE 6/26/02 VALUE 7/15/02 Jul 19 Fwd FX Ctrct - 7,480,000 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.496000000 TRADE 6/20/02 VALUE 7/18/02 Jul 19 Fwd FX Ctrct - 7,740,000 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.548000000 TRADE 7/12/02 VALUE 7/19/02 Jul 19 Spot FX 15,640,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL GBP SPOT RATE : 1.564000000 TRADE 7/18/02 VALUE 7/18/02 U S DOLLAR POUND STERLING AS OF 07/18/02 57,000.00 88,122.00 Gain/Loss USD 6,375,000.00 9,857,662.62 Amount Amount USD 10,000,000.00 15,653,500.13 5,000,000.00 7,849,000.05 5,000,000.00 7,887,500.01 - 10,000,000.00 EFTA01552496 - 15,640,000.00 EFTA01552497 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 26 of 52 Account Transactions by Currency Swedish Krona Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Foreign Exchange Ending Balance Foreign Exchange Gains/Losses Swedish Krona Activity by Date Settlement Date Jul 1 Type Spot FX Quantity Description - 9,000,000 SPOT CURRENCY TRANSACTION - BUY BUY SEK SELL USD SPOT RATE : 9.210000000 TRADE 6/27/02 VALUE 7/01/02 SWEDISH KRONA U S DOLLAR Jul 1 Spot FX 9,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL SEX SPOT RATE : 9.210000000 TRADE 6/27/02 VALUE 7/01/02 U S DOLLAR SWEDISH KRONA .00 344,721,760.00 - 344,721,760.00 .00 - .01 412,915,760.00 - 412,915,760.00 Amount to Date Realized Amount Gain/Loss USD 82,890,000.00 9,000,000.00 Amount USD - 82,890,000.00 - 9,000,000.00 EFTA01552498 07 Date Jul 15 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 27 of 52 Swedish Krona Activity by Date Settlement continued Realized Type Fwd FX Ctrct Quantity Description - 7,258,541.78 SETTLE FORWARD CURRENCY CONTRACT BUY SEK SELL USD CONTRACT RATE : 9.395000000 TRADE 6/20/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct 8,989,263.64 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL SEX CONTRACT RATE : 9.221000000 TRADE 6/27/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct - 1,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY SEK SELL USD CONTRACT RATE : 9.249000000 TRADE 6/26/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct - 20,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY SEK SELL USD CONTRACT RATE : 9.219438000 TRADE 6/26/02 VALUE 7/15/02 Jul 15 Spot FX 9,612,243.24 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL SEX SPOT RATE : 9.357000000 TRADE 7/12/02 VALUE 7/15/02 U S DOLLAR SWEDISH KRONA Jul 15 Spot FX 9,534,011.78 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL SEX SPOT RATE : 9.335000000 TRADE 7/12/02 VALUE 7/15/02 U S DOLLAR SWEDISH KRONA - 89,000,000.00 - 9,534,011.78 - 0.01 Gain/Loss USD 68,194,000.00 7,407,640.75 Amount Amount USD - 82,890,000.00 - 9,004,008.29 9,249,000.00 1,004,681.78 184,388,760.00 20,029,411.57 - 89,941,760.00 - 9,612,243.24 EFTA01552499 EFTA01552500 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 28 of 52 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 Jul 1 Type Spot FX Quantity Description - 8,000,000 SPOT CURRENCY TRANSACTION - BUY BUY CHF SELL USD SPOT RATE : 1.495000000 TRADE 6/27/02 VALUE 7/01/02 SWISS FRANC U S DOLLAR Jul 1 Spot FX 8,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.495000000 TRADE 6/27/02 VALUE 7/01/02 U S DOLLAR SWISS FRANC .00 271,176,287.50 - 271,176,288.00 - .50 .02 310,981,287.50 - 310,981,288.00 Amount to Date Realized Amount Gain/Loss USD 11,960,000.00 8,000,000.00 Amount USD - 11,960,000.00 - 8,000,000.00 EFTA01552501 07 Date Jul 10 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 29 of 52 Swiss Franc Activity by Date Settlement continued Realized Type Spot FX Quantity Description - 10,000,000 SPOT CURRENCY TRANSACTION - BUY BUY CHF SELL USD SPOT RATE : 1.497500000 TRADE 7/08/02 VALUE 7/10/02 SWISS FRANC U S DOLLAR Jul 10 Spot FX - 3,000,000 SPOT CURRENCY TRANSACTION - BUY BUY CHF SELL USD SPOT RATE : 1.497300000 TRADE 7/08/02 VALUE 7/10/02 SWISS FRANC U S DOLLAR Jul 10 Spot FX 13,051,019.04 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.491600000 TRADE 7/08/02 VALUE 7/10/02 U S DOLLAR SWISS FRANC Jul 15 Fwd FX Ctrct - 25,925,016.37 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.527000000 TRADE 6/20/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct 8,000,535.15 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL CHF CONTRACT RATE : 1.494900000 TRADE 6/27/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct - 7,500,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.493500000 TRADE 6/26/02 VALUE 7/15/02 Gain/Loss USD 14,975,000.00 10,000,000.00 Amount Amount USD 4,491,900.00 3,000,000.00 - 19,466,900.00 - 13,051,019.04 39,587,500.00 27,105,443.34 - 11,960,000.00 - 8,188,976.37 11,201,250.00 7,669,462.51 EFTA01552502 EFTA01552503 07 Date Jul 15 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 30 of 52 Swiss Franc Activity by Date Settlement continued Realized Type Fwd FX Ctrct Quantity Description 30,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL CHF CONTRACT RATE : 1.486400000 TRADE 6/28/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct 20,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL CHF CONTRACT RATE : 1.493400000 TRADE 6/28/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct - 20,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.478000000 TRADE 7/01/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.478700000 TRADE 7/01/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.479500000 TRADE 7/01/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.479500000 TRADE 7/01/02 VALUE 7/15/02 Jul 15 Fwd FX Ctrct - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.480000000 TRADE 7/01/02 VALUE 7/15/02 Gain/Loss USD 0.01 - 44,592,000.00 - 30,532,009.58 Amount Amount USD 0.01 - 29,868,000.00 - 20,450,530.64 29,560,000.00 20,239,643.95 14,787,000.00 10,124,614.85 7,397,500.00 EFTA01552504 5,065,046.21 7,397,500.00 5,065,046.21 14,800,000.00 10,133,515.91 EFTA01552505 07 Date Jul 15 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 31 of 52 Swiss Franc Activity by Date Settlement continued Realized Type Spot FX Quantity Description 20,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.484000000 TRADE 7/10/02 VALUE 7/15/02 U S DOLLAR SWISS FRANC Jul 15 Spot FX 20,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.483000000 TRADE 7/10/02 VALUE 7/15/02 U S DOLLAR SWISS FRANC Jul 15 Spot FX 10,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.492200000 TRADE 7/10/02 VALUE 7/15/02 U S DOLLAR SWISS FRANC Jul 15 Spot FX 13,287,655.79 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.487500000 TRADE 7/10/02 VALUE 7/15/02 U S DOLLAR SWISS FRANC Jul 15 Fwd FX Ctrct - 17,500,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.488497000 TRADE 6/26/02 VALUE 7/15/02 Gain/Loss USD - 29,680,000.00 - 20,000,000.00 Amount Amount USD - 29,660,000.00 - 20,000,000.00 - 14,922,000.00 - 10,000,000.00 - 19,765,388.00 - 13,287,655.79 26,048,697.50 17,835,465.59 EFTA01552506 07 Date Jul 15 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 32 of 52 Swiss Franc Activity by Date Settlement continued Realized Type Fwd FX Ctrct Quantity Description - 20,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.483397000 TRADE 6/26/02 VALUE 7/15/02 Jul 17 Fwd FX Ctrct - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.497500000 TRADE 7/08/02 VALUE 7/17/02 Jul 17 Fwd FX Ctrct 10,101,180.44 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL CHF CONTRACT RATE : 1.482500000 TRADE 7/11/02 VALUE 7/17/02 Jul 24 Fwd FX Ctrct - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.525700000 TRADE 6/20/02 VALUE 7/24/02 Jul 24 Fwd FX Ctrct - 20,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL USD CONTRACT RATE : 1.453500000 TRADE 7/15/02 VALUE 7/24/02 Jul 24 Spot FX 30,454,826.52 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.455500000 TRADE 7/22/02 VALUE 7/24/02 U S DOLLAR SWISS FRANC Gain/Loss USD 29,667,940.00 20,313,550.15 Amount Amount USD 14,975,000.00 10,304,844.48 - 14,975,000.00 - 10,304,844.48 15,257,000.00 10,481,228.31 29,070,000.00 19,970,459.93 - 44,327,000.00 - 30,454,826.52 EFTA01552507 07 JPMorgan Chase Bank 2002 Account Number: I FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 33 of 52 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 - 35,518,391.68 - 1,151,127.31 - 310,304,202.56 .00 *Year to date information is calculated on a calendar year basis. - 111,587,448.16 - 50,502,649.99 - 367,482,032.61 37,254.08 28,231,760.00 5,827,790.00 312,168,262.47 47,647.96 103,853,023.11 9,042,635.00 45,000,000.00 371,628,824.69 708,655.00 Amount Year to Date USD* U S Dollar Activity by Date Type Settlement Date Jul 1 Dividend Quantity Description JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST Amount USD 2,882.77 EFTA01552508 07 Settlement Date Jul 1 JPMorgan Chase Hank 2002 Account Number: 0 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 34 of 52 U S Dollar Activity by Date Type continued Quantity Description Write Option - 25,415,000 CHF PUT USD CALL FX EUROPEAN STYLE OPTION JAN 07, 2003 @ 1.495 WRITTEN FX OPTION PUT 25,415,000.00 CHF CALL 17,000,000.00 USD TRADE DATE 06/27/02 Jul 1 Write Option - 156,570,000 SEK PUT USD CALL FX EUROPEAN STYLE OPTION JAN 07, 2003 @ 9.21 WRITTEN FX OPTION PUT 156,570,000.00 SEK CALL 17,000,000.00 USD TRADE DATE 06/27/02 Jul 1 Write Option - 127,755,000 NOK PUT USD CALL FX EUROPEAN STYLE OPTION JAN 07, 2003 @ 7.515 WRITTEN FX OPTION PUT 127,755,000.00 NOK CALL 17,000,000.00 USD TRADE DATE 06/27/02 Jul 1 Jul 1 Dividend Purchase 34,371.31 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 06/28/02 34,371.31 - 34,371.31 781,090.00 696,630.00 Amount USD 539,090.00 EFTA01552509 07 Settlement Date Jul 1 Jul 1 JPMorgan Chase Bank 2002 Account Number: M FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 35 of 52 U S Dollar Activity by Date Type continued Quantity Description Purchase Spot FX 2,019,692.77 - 75,150,000 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NOK SPOT RATE : 7.515000000 TRADE 6/27/02 VALUE 7/01/02 U S DOLLAR NORWEGIAN KRONE Jul 1 Spot FX 82,890,000 SPOT CURRENCY TRANSACTION - BUY BUY SEK SELL USD SPOT RATE : 9.210000000 TRADE 6/27/02 VALUE 7/01/02 SWEDISH KRONA U S DOLLAR Jul 1 Spot FX - 82,890,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL SEX SPOT RATE : 9.210000000 TRADE 6/27/02 VALUE 7/01/02 U S DOLLAR SWEDISH KRONA Jul 1 Spot FX 11,960,000 SPOT CURRENCY TRANSACTION - BUY BUY CHF SELL USD SPOT RATE : 1.495000000 TRADE 6/27/02 VALUE 7/01/02 SWISS FRANC U S DOLLAR - 8,000,000.00 - 9,000,000.00 Amount USD - 2,019,692.77 10,000,000.00 9,000,000.00 EFTA01552510 07 Settlement Date Jul 1 JPMorgan Chase Bank 2002 Account Number: 0 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 36 of 52 U S Dollar Activity by Date Type continued Quantity Description Spot FX - 11,960,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.495000000 TRADE 6/27/02 VALUE 7/01/02 U S DOLLAR SWISS FRANC Jul 1 Spot FX 75,150,000 SPOT CURRENCY TRANSACTION - BUY BUY NOK SELL USD SPOT RATE : 7.515000000 TRADE 6/27/02 VALUE 7/01/02 NORWEGIAN KRONE U S DOLLAR Jul 3 Sell Option - 20,000,000 AUD CALL USD PUT FX AMERICAN STYLE OPTION NOV 27, 2002 8 .574 RESALE OF PURCHASED FX OPTION TRADE DATE 07/01/02 Jul 3 Sell Option - 20,000,000 AUD CALL USD PUT FX AMERICAN STYLE OPTION NOV 21, 2002 8 .575 RESALE OF PURCHASED FX OPTION TRADE DATE 07/01/02 Jul 3 Jul 10 Purchase Spot FX 1,020,294 14,975,000 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST SPOT CURRENCY TRANSACTION - BUY BUY CHF SELL USD SPOT RATE : 1.497500000 TRADE 7/08/02 VALUE 7/10/02 SWISS FRANC U S DOLLAR - 1,020,294.00 - 10,000,000.00 150,850.00 Amount USD 8,000,000.00 - 10,000,000.00 160,789.00 EFTA01552511 07 Settlement Date Jul 10 JPMorgan Chase Bank 2002 Account Number: 0 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 37 of 52 U S Dollar Activity by Date Type continued Quantity Description Spot FX 4,491,900 SPOT CURRENCY TRANSACTION - BUY BUY CHF SELL USD SPOT RATE : 1.497300000 TRADE 7/08/02 VALUE 7/10/02 SWISS FRANC U S DOLLAR Jul 10 Spot FX - 19,466,900 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.491600000 TRADE 7/08/02 VALUE 7/10/02 U S DOLLAR SWISS FRANC Jul 10 Jul 11 Purchase Sell Option 51,019.04 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST - 80,000,000 NOK CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 8 8. RESALE OF PURCHASED FX OPTION TRADE DATE 07/09/02 Jul 11 Jul 12 Purchase Sell Option 821,000 JP MORGAN PRIME MONEY MARKET PREMIER CLASS SWEEP FUND (350) SWEEP DEADLINE IS 4:30 PM EST - 40,000,000 NOK CALL USD PUT FX AMERICAN STYLE OPTION NOV 20, 2002 8 8. RESALE OF PURCHASED FX OPTION TRADE DATE 07/10/02 - 821,000.00 381,784.00 Amount USD - 3,000,000.00 13,051,019.04 - 51,019.04 821,000.00 EFTA01552512 07 Settlement Date Jul 12 JPMorgan Chase Bank 2002 Account Number: 0 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio July 01, 2002 - July 31, 2002 Page 38 of 52 U S Dollar Activity by Date Type continued Quantity Description Buy-Back Opt 8,137,500 CHF PUT USD CALL FX EUROPEAN STYLE OPTION AUG 08, 2002 8 1.6275 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 07/10/02 Jul 12 Jul 15 Purchase Fwd FX Ctrct 379,784 39,587,500 JP MORGAN PRIME MONEY MARK