EFTA01554559.pdf

12 2004 Confidential FINANCIAL TRUST COMPANY INC Page 1 of 43 J.P. Morgan Portfolios December 1 - December 31, 2004 Table of Contents Page Account Summary Asset Account Portfolio Margin Account Portfolio Q 30171-00-5 JPMCB JPMSI 161121381 2 3 41 000000.0000.00.0000.000.000000000.000000 FINANCIAL TRUST COMPANY INC ATTN: JEFFREY E EPSTEIN C/O AMERICAN YACHT HARBOR 6100 RED HOOK, QUARTERS IBS ST THOMAS 00802 US VIRGIN ISLDS EFTA01554559 12 2004 Portfolio Summary FINANCIAL TRUST COMPANY INC December 01, 2004 - December 31, 2004 Page 2 of 43 Portfolio Summary Net Worth Summary Asset Portfolio USD Q 30171-00-5 Assets(Long) Cash S Short Term Equities Options Liabilities (Short) Other Options Total FX Gain/Loss Accrued Income Total Net Worth Income Summary Dividends Total 90,932,209.56 79,132,270.89 11,390,483.88 409,454.79 - 2,083,102.93 - 149,542.00 - 1,933,560.93 88,849,106.63 1,072,962.39 131,454.94 90,053,523.96 Margin Portfolio USD 161121381 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 .00 0.00 0.00 90,932,209.56 79,132,270.89 11,390,483.88 409,454.79 - 2,083,102.93 - 149,542.00 - 1,933,560.93 88,849,106.63 1,072,962.39 131,454.94 90,053,523.96 This Period 111,869.87 111,869.87 Year to Date 684,493.46 684,493.46 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 EFTA01554560 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 3 of 43 Asset Account Portfolio December 1 - December 31, 2004 Important statement about your banking relationship: Earlier this year, Bank One merged into JPMorgan Chase a Co. Now we have merged our principal subsidiary banks, JPMorgan Chase Bank, Bank One, N.A. (Chicago, Illinois) and Bank One, N.A. (Columbus, Ohio), under a single national bank charter under the supervision of the Office of the Comptroller of the Currency. The lead bank is called JPMorgan Chase Bank, N.A. Some clients may be affected by the following change: Effective November 13, 2004, all funds you had on deposit at JPMorgan Chase Bank, Bank, One N.A. (Chicago, Illinois) and Bank One, N.A. (Columbus, Ohio) became deposits at JPMorgan Chase Bank, N.A. If you have accounts at more than one of these banks, your accounts will be aggregated for the purposes of FDIC insurance coverage and be subject to the $100,000 maximum coverage allowed by law. If you order checks from private vendors, please be sure on your next reorder to use the JPMorgan Chase Bank, N.A. name. Best wishes for a happy holiday season. Table of Contents Portfolio Summary Cash and Short Term Equities Equity Research Ratings Other Options Outstanding Foreign Exchange Contracts Trade Activity Account Transactions Account Officers D'ORAZIO/HORNAK Page 4 6 7 8 9 10 13 15 19 EFTA01554561 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 4 of 43 Overview Current Portfolio Summary Except for the Deposit Account (if elected), and the cash in your Asset Account, which are insured deposits with JPMorgan Chase Bank, N.A. ("JPMCB") or Chase Manhattan Bank USA, N.A. ("CHASE USA"), 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 CHASE USA or any of their 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 86% Cash and Short Term 13% Equities 1% Other Cash S Short Term Equities Other Options Total Foreign Exchange Accrued Income Total Portfolio Value Market Value USD Dec 31 79,132,270.89 11,390,483.88 - 149,542.00 - 1,524,106.14 88,849,106.63 1,072,962.39 131,454.94 90,053,523.96 Income Summary Dividends Total Net Gain/Loss Summary Net Short Term Gain/Loss Total Prior Period Market Value USD Oct 31 77,602,623.25 16,860,229.56 736,980.44 - 3,852,455.96 91,347,377.29 104,828.18 104,017.26 91,556,222.73 Tax Cost USD 79,132,270.89 - 6,129.75 79,126,141.14 Estimated Annual Income USD 1,671,273.55 Yield 2.1 0.0 0.0 1,671,273.55 N/A N/A 1.9 This Period USD 111,869.87 111,869.87 EFTA01554562 Year to Date USD* 684,493.46 684,493.46 Realized This Period USD Realized Year to Date USD* 1,249,479.53 1,249,479.53 *Year to date information is calculated on a calendar year basis. Exchange Rates Spot Rates as of December 31, 2004 Market value of Options is not included in pie chart. Currency AUD EUR GBP Exchange Rate 0.7839 1.3592 1.9199 Unrealized USD 11,474,005.28 11,474,005.28 - 1,517,976.39 - 1,517,976.39 EFTA01554563 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 5 of 43 Exchange Rates Spot Rates as of December 31, 2004 Currency JPY NZD THB TWD Exchange Rate 102.4700 0.7223 38.8500 31.6900 EFTA01554564 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 6 of 43 Cash and Short Term Summary by Maturity Current Market Value USD Cash Total 79,132,270.89 79,132,270.89 Estimated Annual Income USD 1,671,273.55 1,671,273.55 Current yield is displayed for instruments with no maturity and YTM on market is displayed for instr uments that mature. Cash and Short Term by Type Description Cusip/S&P/Moody's Rating Cash JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) 7-Day Annualized Yield: 2.14% POUND STERLING Total Cash USD 79,132,270.62 1.00 1.00 79,132,270.62 79,132,270.62 131,454.94 GBP 0.14 1.928571 0.27 79,132,270.89 0.27 79,132,270.89 131,454.94 1,671,273.55 2.11 Currency/ Unit Cost Adjusted Account Type Quantity Original Market Price Tax Cost Adjusted Original Market Value USD Accrued Interest USD Unrealized Gain/Loss USD Estimated Current Annual Yield/ Income USD YTM % Current N/A 1,671,273.55 2.11 EFTA01554565 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 7 of 43 Equities Independent, third party research selected by an Independent Consultant for certain companies covere d by JPMorgan Securities, Inc. is available to clients of JPMSI at no cost. Clients can access this research at www.privateclient.jpmorgan.com or can call their JPMorgan representative at their toll free number t o request that a copy of this research be sent to them. When JPMorgan drops coverage of a company, independent resear ch will continue to be provided for an 18-month period, when available. Refer to Equity Research Ratings sec tion for research ratings on client holdings, if applicable. Note: C indicates Equity covered by JPMSI. 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 Unrealized Gain/Loss USD Annual Dividend Income USD Yield % Estimated C TOO INC 890333-10-7 TOO 465,678 are liened USD Total Equity 465,678 465,678 24.46 11,390,483.88 11,390,483.88 N/A 0.00 N/A 0.0 EFTA01554566 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 8 of 43 Equity Research Ratings Independent, third party research is available for 18 months after JPMorgan Securities, Inc. termina tes coverage. Clients can access this research at www.privateclient.jpmorgan.com or can call their JPMorgan representative at their toll free number to request that a copy of this research be sent to them. Equity Research Ratings for any comp any where JPMSI has terminated coverage are excluded below. For explanation of JPMSI ratings, see disclaimer section at end of statement. For third party ratings systems, see specific third party research at www.privateclient.j pmorgan.com. Equity Holdings in Alphabetical Order Description/Ticker TOO INC TOO Ratings JPMSI: NEUTRAL MRNGSTAR: 1 star Providers: BOE SECU = BOE Securities; MRNGSTAR = Morningstar; REN CAP = Renaissance Capital EFTA01554567 12 Other Swaps in Alphabetical Order Description INTEREST RATE SWAP 1,000,000,000JPY NOTIONAL SEP 7 2014 REC FLOATING JPY 3 MONTH LIBOR PAY FIXED RATE 1.577% JPY QUARTERLY ACTUAL/360 SWPBDA-JL-7 N/0 Client Total Other - 149,542.00 Trade Date Maturity Date Estimated Value USD - 149,542.00 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 9 of 43 EFTA01554568 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 10 of 43 Options Option Holdings in Alphabetical Order Description Cusip Other WTI SHORT PUT OPTION USD CALL OPTION STRIKE 50.00 EXPIRING 1/14/2005 OTCBDP-BC-F Description Cusip Foreign Exchange EUR CALL CHF PUT FX EUROPEAN STYLE OPTION FEB 09, 2005 @ 1.5395 KNOCK IN TRIGGERED @ 1.5525 KNOCK OUT @ 1.5045 XEURCA-XL-2 JPY PUT USD CALL FX EUROPEAN STYLE OPTION FEB 09, 2005 @ 115. XJPYPA-KB-2 JPY 2,300,000,000 USD 20,000,000.00 USD 190,000.00 190,000.00 115.00 - 189,885.00 Counter Amount Currency Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD Currency/ Account Type Quantity Unit Cost Current Market Price/Unit Premium USD Current Market Value USD Unrealized Gain/Loss USD USD - 50 195,000.00 33,523.7558 - 97,500.00 - 1,676,187.79 - 1,578,687.79 EUR - 23,000,000 CHF - 35,408,500.00 USD - 169,326.00 - 169,326.00 - 126,077.72 43,248.28 EFTA01554569 12 Cusip JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 11 of 43 Foreign Exchange Description AUD PUT USD CALL FX EUROPEAN STYLE OPTION APR 01, 2005 @ .715 KNOCK IN TRIGGERED @ .7193 BARRIER EXP 10/7/2004 XAUDPA-DX-Z NZD PUT USD CALL FX EUROPEAN STYLE OPTION MAR 31, 2005 @ .665 KNOCK IN TRIGGERED @ .67 BARRIER EXP 10/7/2004 XNZDPA-EH-Z EUR PUT USD CALL FX EUROPEAN STYLE OPTION APR 20, 2005 @ 1.255 XEURPA-PO-Z THB CALL USD PUT FX EUROPEAN STYLE OPTION FEB 23, 2005 @ 36. XTHBCA-AC-Z THB CALL USD PUT FX EUROPEAN STYLE OPTION FEB 23, 2005 @ 38. XTHBCA-AB-Z TWD CALL USD PUT FX EUROPEAN STYLE OPTION MAR 01, 2005 @ 32.75 XTWDCA-AB-Z Total Foreign Exchange 91,370.25 152,081.65 60,711.40 TWD 327,500,000 USD 10,000,000.00 USD 196,000.00 196,000.00 352,350.70 156,350.70 THB 351,500,000 USD 9,250,000.00 USD 108,225.00 108,225.00 36,577.09 - 71,647.91 THB 2,700,000,000 USD 75,000,000.00 USD 405,000.00 405,000.00 20,412.00 - 384,588.00 EUR - 10,500,000 USD - 13,177,500.00 USD - 322,848.75 - 322,848.75 - 27,676.32 295,172.43 NZD - 10,000,000 USD - 6,650,000.00 USD - 99,750.00 - 99,750.00 - 43,713.10 56,036.90 Counter Amount Currency continued AUD - 20,000,000 USD - 14,300,000.00 USD - 215,930.00 - 215,930.00 - 59,906.00 156,024.00 Counter Premium EFTA01554570 Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01554571 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 12 of 43 Exchange-listed options are valued using market prices at the close of business for statement date Over-The-Counter (OTC) options are valued at Mid-Market, unless otherwise agreed. See: Important Information about Pricing and Valuations. Important Information about Pricing and Valuations Prices, some of which are provided by pricing services or other sources which we deem reliable, are not guaranteed for accuracy or as realizable values. Valuations of over-the-counter derivative transactions, including certain derivatives-related deposi t products, have been prepared on a mid-market basis. These valuations are indicative values as of t he close of business of the date of this statement and, except as otherwise agreed in writing, these valuations do not represent the actual terms at wh ich transactions or securities could be bought or sold or new transactions could be entered into, or the actual terms on which existing transactions or securities could be liquidated as of the date of this statement. We do not warrant their completenes s or accuracy. These valuations are derived from proprietary models based upon well recognized finan cial principles and we have, when necessary to calculate the present value of future cash flows, made reasonable estimates about relevant future ma rket conditions. Valuations based on other models or different assumptions may yield different resul ts. Morgan expressly disclaims any responsibility for (1) the accuracy of the models or estimates used in deriving the valuations, (2) any errors or o missions in computing or disseminating the valuations, and (3) any uses to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. Please refer to the trade confirmation for d etails of each transaction. EFTA01554572 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 13 of 43 Outstanding Foreign Exchange Contracts Net Currency Exposure Summary Pound Sterling U S Dollar Value in Currency 2,500,000.00 - 3,706,045.05 Gain/Loss Summary Total Unrealized Closed Value in USD Total Unrealized Open Total Unrealized Gain/Loss 1,089,539.95 - 16,577.56 1,072,962.39 Foreign Exchange Contracts Settlement Date Trade Date SPECULATIVE AUSTRALIA DOLLAR - U S DOLLAR Total Closed Oct. 8 04 Apr. 12 05 AUD Dec. 22 04 Apr. 12 05 AUD Dec. 6 04 Jan. 11 05 GBP Dec. 9 04 Jan. 11 05 GBP 10,000,000.00 USD - 10,000,000.00 USD 0.00 POUND STERLING - JAPANESE YEN Total Closed POUND STERLING - U S DOLLAR Dec. 8 04 Mar. 10 05 GBP Dec. 9 04 Mar. 10 05 GBP Total Open 10,000,000.00 JPY - 10,000,000.00 JPY 0.00 15,000,000.00 USD - 12,500,000.00 USD 2,500,000.00 - 7,214,000.00 7,580,000.00 366,000.00 - 1,995,900,000.00 2,002,800,000.00 6,900,000.00 - 28,690,500.00 23,896,250.00 - 4,794,250.00 0.7214 0.758 0.777877 0.777877 7,778,766.04 7,580,000.00 15,358,766.04 199.59 200.28 196.418586 196.418586 19,183,690.61 19,560,824.86 38,744,515.47 1.9127 1.9117 1.911603 1.911603 28,674,044.58 23,896,250.00 EFTA01554573 52,570,294.58 7,214,000.00 7,778,766.04 14,992,766.04 19,493,434.37 19,183,690.61 38,677,124.98 28,690,500.00 23,895,037.15 52,585,537.15 564,766.04 - 198,766.04 366,000.00 - 309,743.76 377,134.25 67,390.49 - 16,455.42 1,212.85 - 15,242.57 Currency Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD EFTA01554574 12 Trade Date JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 14 of 43 Foreign Exchange Contracts Settlement Date Currency JAPANESE YEN - U S DOLLAR Dec. 9 04 Jan. 11 05 JPY - 6,900,000.00 USD MEXICAN NEW PESO - U S DOLLAR Oct. 13 04 Apr. 14 05 MXN Oct. 18 04 Apr. 14 05 MXN Nov. 8 04 Apr. 14 05 MXN Dec. 1 04 Apr. 14 05 MXN Dec. 3 04 Apr. 14 05 MXN Total Closed 58,200,000.00 USD 59,141,000.00 USD - 58,453,000.00 USD - 57,200,000.00 USD - 1,688,000.00 USD 0.00 N ZEALAND DOLLAR - U S DOLLAR Mar. 11 04 Mar. 15 05 NZD Mar. 23 04 Mar. 15 05 NZD Oct. 8 04 Apr. 12 05 NZD Dec. 7 04 Apr. 12 05 NZD Total Closed 5,000,000.00 USD - 5,000,000.00 USD 10,000,000.00 USD - 10,000,000.00 USD 0.00 Total Foreign Exchange Contracts 66,055.50 - 5,000,000.00 - 5,000,000.00 5,000,000.00 5,000,000.00 148,149.45 148,149.45 - 3,102,500.00 3,170,500.00 - 6,675,000.00 7,115,000.00 508,000.00 104.4576 11.64 11.8282 11.6906 11.44 11.3939 102.38832 11.344856 11.344856 11.344856 11.344856 11.344856 66,055.50 5,130,078.34 5,213,023.42 5,000,000.00 5,000,000.00 148,149.45 20,491,251.21 0.6205 0.6341 0.6675 0.7115 0.716284 EFTA01554575 0.716284 0.714210 0.714210 3,581,417.62 3,170,500.00 7,142,095.21 7,115,000.00 21,009,012.83 148,239,895.63 67,390.49 5,000,000.00 5,000,000.00 5,152,379.19 5,041,932.66 148,789.90 20,343,101.75 3,102,500.00 3,581,417.62 6,675,000.00 7,142,095.21 20,501,012.83 147,166,933.24 - 1,334.99 130,078.34 213,023.42 - 152,379.19 - 41,932.66 - 640.45 148,149.46 478,917.62 - 410,917.62 467,095.21 - 27,095.21 508,000.00 1,072,962.39 continued Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD EFTA01554576 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 15 of 43 Trade Activity Realized Gain/Loss Summary Short Term Gain/Loss Long Term Gain/Loss Note: indicates Short Term Realized Gain/Loss indicates Long Term Realized Gain/Loss S L Capital gains and losses on sales with missing or incomplete tax cost are identified with N/A. Trade Date Settlement Date Settled Dec 1 Dec 1 Expired Opt GBP PUT JPY CALL FX EUROPEAN STYLE OPTION AUG 24, 2005 @ 193 KNOCK IN @ 192 KNOCK OUT @ 197 Issued in USD Dec 1 Dec 1 Expired Opt MXN PUT USD CALL FX EUROPEAN STYLE OPTION JUL 06, 2005 @ 11.45 KNOCK OUT @ 11.185 Issued in USD Dec 2 Dec 6 Sell Option WTI LONG PUT OPTION USD CALL OPTION STRIKE 44 EXPIRING 12/15/2004 USD - 250 1,312.00 328,000.00 - 545,000.00 - 217,000.00 S MXN 57,250,000 0.00 82,500.00 82,500.00 S GBP 10,000,000 0.00 462,137.00 462,137.00 S Realized Type Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD Amount USD 1,293,752.20 0.00 EFTA01554577 12 Trade Date JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 16 of 43 Settlement Date Realized Type Settled continued Dec 2 Dec 6 Sell Option Dec 7 Dec 7 Expired Opt Dec 9 Dec 9 Expired Opt WTI LONG PUT OPTION USD CALL OPTION STRIKE 44 EXPIRING 12/15/2004 EUR PUT USD CALL FX EUROPEAN STYLE OPTION DEC 06, 2004 @ 1.1 WTI SHORT CALL OPTION USD PUT OPTION STRIKE 50 Dec 9 Dec 9 Expired Opt EXPIRING 1/14/2005 KNOCK OUT @ 43.00 WTI SHORT CALL OPTION USD PUT OPTION STRIKE 51.00 EXPIRING 1/14/05 KNOCK OUT @ 43.00 Dec 16 Dec 16 Expired Opt WTI SHORT CALL OPTION USD PUT OPTION STRIKE 50 EXPIRING 12/15/2004 Dec 22 Dec 24 Buy-Back Opt AUD CALL USD PUT FX EUROPEAN STYLE OPTION DEC 23, 2004 @ .69 Dec 30 Dec 30 Expired Opt KNOCK IN TRIGGERED @ .7250 KNOCK OUT @ .65 MXN PUT USD CALL FX EUROPEAN STYLE OPTION JUL 06, 2005 @ 11.4 KNOCK OUT @ 11.15 Issued in USD MXN 171,000,000 0.00 292,500.00 292,500.00 S USD USD 100 5,000,000 0.00 - 376,050.00 192,000.00 62,445.00 192,000.00 - 313,605.00 S USD 100 0.00 180,000.00 180,000.00 S USD USD USD - 100 - 20,000,000 100 3,300.00 330,000.00 EFTA01554578 0.00 0.00 - 180,000.00 - 96,800.00 184,000.00 150,000.00 S - 96,800.00 S 184,000.00 S Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD EFTA01554579 12 Date JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 17 of 43 Settled Foreign Exchange Contracts Trade Settlement Date Currency SPECULATIVE AUSTRALIA DOLLAR - U S DOLLAR Oct 27 04 Dec 9 04 Dec 2 04 Dec 9 04 Dee 10 04 Dec 10 04 Dee 10 04 EUR EUR AUD - 10,000,000.00 USD EURO CURRENCY - NORWEGIAN KRONE Nov 8 04 Nov 8 04 Dec 8 04 7,421,000.00 AUD 10,000,000.00 USD - 7,782,000.00 5,000,000.00 NOK - 41,170,000.00 5,000,000.00 NOK - 40,895,000.00 EUR - 10,000,000.00 NOK 82,300,000.00 POUND STERLING - JAPANESE YEN Oct 19 04 Dec 9 04 Nov 10 04 Dec 9 04 0.742100 0.778200 8.234000 8.179000 8.230000 1.331027 1.331027 1.322262 6.214800 1.322262 6.214800 1.322250 0.161440 GBP 10,000,000.00 JPY- 1,953,829,000.00 GBP - 10,000,000.00 JPY 1,961,600,000.00 POUND STERLING - U S DOLLAR Nov 29 04 Dec 9 04 Dec 3 04 Dec 3 04 Dec 9 04 Dec 9 04 JAPANESE YEN Nov 10 04 Dec 9 04 Dec 8 04 Dec 10 04 - U S DOLLAR JPY - 7,771,000.00 USD NORWEGIAN KRONE - U S DOLLAR N ZEALAND DOLLAR - U S DOLLAR NOK Oct 25 04 Dec 9 04 - 235,000.00 USD NZD - 10,000,000.00 USD 72,632.96 37,937.49 6,973,000.00 106.990000 6.194400 0.697300 105.520000 6.193950 EFTA01554580 1.416832 72,632.96 37,937.49 6,973,000.00 - 73,644.80 - 37,940.25 - 7,057,999.81 - 1,011.84 - 2.76 - 84,999.81 195.382900 196.160000 1.913619 105.520000 1.913619 105.520000 GBP 10,000,000.00 USD - 18,914,000.00 GBP - 5,000,000.00 USD GBP - 5,000,000.00 USD 9,704,000.00 9,682,000.00 1.891400 1.940800 1.936400 1.913599 1.913599 1.913599 - 18,914,000.00 9,704,000.00 9,682,000.00 19,135,990.87 - 9,567,995.43 - 9,567,995.43 221,990.87 136,004.57 114,004.57 7,421,000.00 - 7,782,000.00 6,611,251.15 6,611,251.15 - 13,222,502.30 - 7,512,998.42 7,512,998.42 - 6,624,509.23 - 6,580,260.02 13,287,159.24 - 91,998.42 - 269,001.58 - 13,258.08 30,991.13 64,656.94 Counter Amount Currency Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD 19,135,990.87 - 18,516,195.98 - 19,135,990.87 18,589,840.78 619,794.89 - 546,150.09 EFTA01554581 12 Date Nov 3 04 Dec 6 04 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 18 of 43 Settled Foreign Exchange Contracts Trade Settlement Date Currency Dec 9 04 TRADE RELATED JAPANESE YEN Dec 7 04 - U S DOLLAR JPY Counter Amount Currency continued NZD 10,000,000.00 USD - 6,861,000.00 3,855,164.00 USD - 37,428.78 0.686100 103.000000 1.416832 103.000000 - 6,861,000.00 - 37,428.78 7,057,999.81 37,428.78 196,999.81 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD EFTA01554582 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 19 of 43 Account Transactions by Currency Australia Dollar Activity Summary Amount this Period Beginning Balance Credits Sales, Maturities, Redemptions Foreign Exchange Debits Miscellaneous Disbursements Foreign Exchange Ending Balance Australia Dollar Activity by Date Settlement Date Dec 9 Type Fwd FX Ctrct Quantity Description 7,421,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL AUD CONTRACT RATE : 0.742100000 TRADE 10/27/04 VALUE 12/09/04 Dec 9 Fwd FX Ctrct - 7,782,000 SETTLE FORWARD CURRENCY CONTRACT BUY AUD SELL USD CONTRACT RATE : 0.778200000 TRADE 12/02/04 VALUE 12/09/04 - 276,000.00 - 10,000,000.00 .00 - 414,000,000.00 10,000,000.00 10,000,000.00 404,276,000.00 .00 Amount to Date Realized Amount Gain/Loss USD - 10,000,000.00 - 7,512,998.42 Amount USD 10,000,000.00 7,512,998.42 EFTA01554583 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 20 of 43 Account Transactions by Currency Euro Currency Activity Summary Amount this Period Beginning Balance Credits Sales, Maturities, Redemptions Foreign Exchange Debits Purchases of Securities Foreign Exchange Ending Balance Euro Currency Activity by Date Settlement Date Type Dec 10 Fwd FX Ctrct Quantity Description - 41,170,000 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL NOK CONTRACT RATE : 8.234000000 TRADE 11/08/04 VALUE 12/10/04 Dec 10 Fwd FX Ctrct - 40,895,000 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL NOK CONTRACT RATE : 8.179000000 TRADE 11/08/04 VALUE 12/10/04 - 10,000,000.00 .00 - 30,000,000.00 - 533,599,332.92 10,000,000.00 29,941,124.64 533,658,208.28 .00 Amount to Date Realized Amount Gain/Loss USD 5,000,000.00 6,611,251.15 Amount USD 5,000,000.00 6,611,251.15 EFTA01554584 12 Date JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 21 of 43 Euro Currency Activity by Date Settlement continued Realized Type Dec 10 Spot FX Quantity Description 82,300,000 SPOT CURRENCY TRANSACTION - SALE BUY NOK SELL EUR SPOT RATE : 0.752606318 TRADE 12/08/04 VALUE 12/10/04 NORWEGIAN KRONE EURO PRINCIPAL CURRENCY Gain/Loss USD - 10,000,000.00 - 13,287,159.24 Amount Amount USD EFTA01554585 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 22 of 43 Account Transactions by Currency Japanese Yen Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Miscellaneous Disbursements Foreign Exchange Ending Balance Japanese Yen Activity by Date Settlement Date Dec 7 Type Spot FX Quantity Description - 37,428.78 SPOT CURRENCY TRANSACTION - BUY BUY JPY SELL USD SPOT RATE : 103.000000000 TRADE 12/06/04 VALUE 12/07/04 JAPANESE YEN U S DOLLAR Dec 9 Misc. Disbursement IR SWAP NET PAYMENT FIXED -3,986,305 + 131,141 LIBOR JAPANESE YEN AS OF 12/07/04 Dec 10 Fwd FX Ctrct 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL JPY CONTRACT RATE : 195.382900000 TRADE 10/19/04 VALUE 12/10/04 177.07 .00 1,965,455,164.00 - 3,855,164.00 - 1,961,600,000.0 .00 20,009,972,684.00 - 3,855,164.00 - 20,006,117,520. Amount to Date Realized Amount Gain/Loss USD 3,855,164.00 37,428.78 Amount USD - 3,855,164.00 - 37,605.85 0.01 -1,953,829,000.00 - 18,516,195.98 EFTA01554586 12 Date JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 23 of 43 Japanese Yen Activity by Date Settlement continued Realized Type Dec 10 Fwd FX Ctrct Quantity Description 72,632.96 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL JPY CONTRACT RATE : 106.990000000 TRADE 11/10/04 VALUE 12/10/04 Dec 10 Fwd FX Ctrct - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY JPY SELL GBP CONTRACT RATE : 196.160000000 TRADE 11/10/04 VALUE 12/10/04 Gain/Loss USD - 0.01 - 7,771,000.00 - 73,644.80 Amount Amount USD 1,961,600,000.00 18,589,840.78 EFTA01554587 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 24 of 43 Account Transactions by Currency Mexican New Peso Activity Summary Amount this Period Beginning Balance Ending Balance Mexican New Peso Activity by Date Settlement Date Dec 1 Type Expired Opt Quantity Description 57,250,000 MXN PUT USD CALL FX EUROPEAN STYLE OPTION JUL 06, 2005 @ 11.45 KNOCK OUT @ 11.185 EXPIRATION OF WRITTEN FX OPTION OPTION KNOCKED OUT Dec 30 Expired Opt 171,000,000 MXN PUT USD CALL FX EUROPEAN STYLE OPTION JUL 06, 2005 @ 11.4 KNOCK OUT @ 11.15 EXPIRATION OF WRITTEN FX OPTION OPTION KNOCKED OUT .00 .00 Amount to Date Realized Amount Gain/Loss USD Amount USD EFTA01554588 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 25 of 43 Account Transactions by Currency N Zealand Dollar Activity Summary Amount this Period Beginning Balance Credits Sales, Maturities, Redemptions Foreign Exchange Debits Purchases of Securities Miscellaneous Disbursements Foreign Exchange Ending Balance N Zealand Dollar Activity by Date Settlement Date Dec 9 Type Fwd FX Ctrct Quantity Description 6,973,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NZD CONTRACT RATE : 0.697300000 TRADE 10/25/04 VALUE 12/09/04 Dec 9 Fwd FX Ctrct - 6,861,000 SETTLE FORWARD CURRENCY CONTRACT BUY NZD SELL USD CONTRACT RATE : 0.686100000 TRADE 11/03/04 VALUE 12/09/04 - 10,000,000.00 .00 - 20,000,000.00 - 280,284.94 - 593,964,616.52 10,000,000.00 29,964,616.52 584,280,284.94 .00 Amount to Date Realized Amount Gain/Loss USD - 10,000,000.00 - 7,057,999.81 Amount USD 10,000,000.00 7,057,999.81 EFTA01554589 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 26 of 43 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 Type Dec 10 Fwd FX Ctrct Quantity Description 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL NOK CONTRACT RATE : 8.234000000 TRADE 11/08/04 VALUE 12/10/04 Dec 10 Fwd FX Ctrct 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL NOK CONTRACT RATE : 8.179000000 TRADE 11/08/04 VALUE 12/10/04 -00 82,300,000.00 - 82,300,000.00 .00 - 44,449.74 149,825,000.00 - 149,825,000.00 Amount to Date Realized Amount Gain/Loss USD - 22,299.35 - 41,170,000.00 - 6,624,509.23 Amount USD - 22,150.39 - 40,895,000.00 - 6,580,260.02 EFTA01554590 12 Date JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 27 of 43 Norwegian Krone Activity by Date Settlement continued Realized Type Dec 10 Spot FX Quantity Description 37,937.49 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NOK SPOT RATE : 6.194400000 TRADE 12/08/04 VALUE 12/10/04 U 5 DOLLAR NORWEGIAN KRONE Dec 10 Spot FX - 10,000,000 SPOT CURRENCY TRANSACTION - BUY BUY NOK SELL EUR SPOT RATE : 6.193950000 TRADE 12/08/04 VALUE 12/10/04 NORWEGIAN KRONE EURO PRINCIPAL CURRENCY 82,300,000.00 13,287,159.24 Gain/Loss USD - 235,000.00 - 37,937.49 Amount Amount USD EFTA01554591 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 28 of 43 Account Transactions by Currency Pound Sterling Activity Summary Amount this Period Beginning Balance Credits Sales, Maturities, Redemptions Foreign Exchange Debits Foreign Exchange Ending Balance Pound Sterling Activity by Date Settlement Date Dec 1 Type Expired Opt Quantity Description 10,000,000 GBP PUT JPY CALL FX EUROPEAN STYLE OPTION AUG 24, 2005 @ 193 KNOCK IN @ 192 KNOCK OUT @ 197 EXPIRATION OF WRITTEN FX OPTION OPTION KNOCKED OUT Dec 10 Fwd FX Ctrct - 1,953,829,000 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL JPY CONTRACT RATE : 195.382900000 TRADE 10/19/04 VALUE 12/10/04 10,000,000.00 19,135,990.87 - 20,000,000.00 .14 - 334,699,999.86 20,000,000.00 13,000,000.00 321,700,000.00 .14 Amount to Date Realized Amount Gain/Loss USD Amount USD EFTA01554592 12 Date JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 29 of 43 Pound Sterling Activity by Date Settlement continued Realized Type Dec 10 Fwd FX Ctrct Quantity Description 1,961,600,000 SETTLE FORWARD CURRENCY CONTRACT BUY JPY SELL GBP CONTRACT RATE : 196.160000000 TRADE 11/10/04 VALUE 12/10/04 Dec 10 Fwd FX Ctrct - 18,914,000 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.891400000 TRADE 11/29/04 VALUE 12/10/04 Dec 10 Fwd FX Ctrct 9,704,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.940800000 TRADE 12/03/04 VALUE 12/10/04 Dec 10 Fwd FX Ctrct 9,682,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.936400000 TRADE 12/03/04 VALUE 12/10/04 Gain/Loss USD - 10,000,000.00 - 19,135,990.87 Amount Amount USD 10,000,000.00 19,135,990.87 - 5,000,000.00 - 9,567,995.43 - 5,000,000.00 - 9,567,995.43 EFTA01554593 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 30 of 43 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 - 4,429,591.13 - 376,050.00 - 1,800,000.00 - 33,594,428.78 .00 *Year to date information is calculated on a calendar year basis. - 155,897,485.58 - 28,162,235.70 - 12,727,117.53 - 1,954,856,592.4 111,869.87 1,174,558.91 658,000.00 4,365,070.68 33,890,570.45 684,493.46 104,320,328.99 36,726,694.00 5,328,124.70 2,004,583,790.09 .00 Amount Year to Date USD* U S Dollar Activity by Date Type Settlement Date Dec 1 Dividend Quantity Description JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) Amount USD 111,869.87 EFTA01554594 12 Settlement Date Dec 1 Dec 1 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 31 of 43 U S Dollar Activity by Date Type continued Quantity Description Sale Misc. Disbursement - 888,130.13 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) TRANSFERRED BY WIRE TO BEAR STEARNS S COMPANY FAO FINANCIAL TRUST COMPANY, INC. LETTER FROM CLIENT Dec 6 Sell Option - 100 WTI LONG PUT OPTION USD CALL OPTION STRIKE 44 EXPIRING 12/15/2004 SOLD TO CLOSE TRADE DATE 12/02/04 Dec 6 Sell Option - 250 WTI LONG PUT OPTION USD CALL OPTION STRIKE 44 EXPIRING 12/15/2004 SOLD TO CLOSE TRADE DATE 12/02/04 Dec 6 Dec 6 Purchase Misc. Disbursement 158,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) FUNDS TRANSFERRED FROM BRKRG ACA Q30171005 (PRN) TO DDA ACA 000739110438 LETTER FROM CLIENT Dec 7 Expired Opt - 20,000,000 EUR PUT USD CALL FX EUROPEAN STYLE OPTION DEC 06, 2004 8 1.1 EXPIRATION OF PURCHASED FX OPTION Amount USD 888,130.13 - 1,000,000.00 330,000.00 328,000.00 - 158,000.00 - 500,000.00 EFTA01554595 12 Settlement Date Dec 7 Dec 7 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 32 of 43 U S Dollar Activity by Date Type continued Quantity Description Sale Spot FX - 72,402.44 3,855,164 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SPOT CURRENCY TRANSACTION - BUY BUY JPY SELL USD SPOT RATE : 103.000000000 TRADE 12/06/04 VALUE 12/07/04 JAPANESE YEN U S DOLLAR Dec 9 Fwd FX Ctrct - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL AUD CONTRACT RATE : 0.742100000 TRADE 10/27/04 VALUE 12/09/04 Dec 9 Fwd FX Ctrct - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NZD CONTRACT RATE : 0.697300000 TRADE 10/25/04 VALUE 12/09/04 Dec 9 Fwd FX Ctrct 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY NZD SELL USD CONTRACT RATE : 0.686100000 TRADE 11/03/04 VALUE 12/09/04 Dec 9 Fwd FX Ctrct 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY AUD SELL USD CONTRACT RATE : 0.778200000 TRADE 12/02/04 VALUE 12/09/04 Dec 9 Free Delivery - 200,000 TOO INC GOLDMAN SACHS & CO TRADE DATE 12/08/04 Amount USD 72,402.44 - 37,428.78 7,421,000.00 6,973,000.00 - 6,861,000.00 - 7,782,000.00 EFTA01554596 12 Settlement Date Dec 9 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 33 of 43 U S Dollar Activity by Date Type continued Quantity Description Expired Opt 100 WTI SHORT CALL OPTION USD PUT OPTION STRIKE 51.00 EXPIRING 1/14/05 KNOCK OUT @ 43.00 EXPIRATION OF WRITTEN OTC CALL OPTION KNOCKED OUT Dec 9 Expired Opt 100 WTI SHORT CALL OPTION USD PUT OPTION STRIKE 50 EXPIRING 1/14/2005 KNOCK OUT @ 43.00 EXPIRATION OF WRITTEN OTC CALL OPTION KNOCKED OUT Dec 9 Sale Dec 10 Fwd FX Ctrct - 214,026.34 - 7,771,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL JPY CONTRACT RATE : 106.990000000 TRADE 11/10/04 VALUE 12/10/04 Dec 10 Fwd FX Ctrct 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.891400000 TRADE 11/29/04 VALUE 12/10/04 Dec 10 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.940800000 TRADE 12/03/04 VALUE 12/10/04 214,026.34 72,632.96 Amount USD - 18,914,000.00 9,704,000.00 EFTA01554597 12 Settlement Date JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 34 of 43 U S Dollar Activity by Date Type continued Quantity Description Dec 10 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.936400000 TRADE 12/03/04 VALUE 12/10/04 Dec 10 Spot FX - 235,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NOK SPOT RATE : 6.194400000 TRADE 12/08/04 VALUE 12/10/04 U S DOLLAR NORWEGIAN KRONE Dec 10 Purchase Dec 16 Expired Opt 582,570.45 100 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) WTI SHORT CALL OPTION USD PUT OPTION STRIKE 50 EXPIRING 12/15/2004 EXPIRATION OF WRITTEN OTC CALL Dec 16 Free Delivery - 300,100 WALT DISNEY CO TOTAL RETURN SWAP 11,920,650 USD NOTIONAL FEB 14 2005 DEAL REF t 2361214 SWAP UNWIND JPMORGAN CHASE BANK TRADE DATE 12/13/04 Dec 16 Misc. Receipt WALT DISNEY CO TOTAL RETURN SWAP 11,920,650 USD NOTIONAL FEB 14 2005 DEAL REF t 2361214 PAYMENT DUE TO PARTIAL UNWIND OF SWAP 1,141,615.50 - 582,570.45 Amount USD 9,682,000.00 37,937.49 EFTA01554598 12 Settlement Date JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 35 of 43 U S Dollar Activity by Date Type continued Quantity Description Dec 16 Purchase Dec 17 Free Delivery 1,141,615.50 - 199,900 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) WALT DISNEY CO TOTAL RETURN SWAP 11,920,650 USD NOTIONAL FEB 14 2005 DEAL REF f 2361214 SWAP UNWIND JPMORGAN CHASE BANK TRADE DATE 12/14/04 Dec 17 Free Delivery - 251,400 WALT DISNEY CO EQUITY SWAP 24,954,900 USD NOTIONAL JAN 19 2005 DEAL REF f 2353480 SWAP UNWIND JPMORGAN CHASE BANK TRADE DATE 12/14/04 Dec 17 Misc. Receipt WALT DISNEY CO TOTAL RETURN SWAP 11,920,650 USD NOTIONAL FEB 14 2005 DEAL REF f 2361214 PAYMENT DUE TO PARTIAL UNWIND OF SWAP Dec 17 Misc. Receipt WALT DISNEY CO EQUITY SWAP 24,954,900 USD NOTIONAL JAN 19 2005 DEAL REF f 2353480 PAYMENT DUE TO PARTIAL UNWIND OF SWAP 655,730.62 749,833.68 Amount USD - 1,141,615.50 EFTA01554599 12 Settlement Date JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 36 of 43 U S Dollar Activity by Date Type continued Quantity Description Dec 17 Purchase Dec 17 Misc. Disbursement 1,105,564.30 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) FUNDS TRANSFERRED FROM BRKRG AC# Q30171005 (PRN) TO DDA AC# 000739264567 LETTER FROM CLIENT Dec 20 Free Delivery - 200,000 WALT DISNEY CO EQUITY SWAP 24,954,900 USD NOTIONAL JAN 19 2005 DEAL REF t 2353480 SWAP UNWIND JPMORGAN CHASE BANK TRADE DATE 12/15/04 Dec 20 Misc. Receipt WALT DISNEY CO EQUITY SWAP 24,954,900 USD NOTIONAL JAN 19 2005 DEAL REF t 2353480 PAYMENT DUE TO PARTIAL UNWIND OF SWAP Dec 20 Free Delivery Dec 20 Purchase - 100,000 TOO INC GOLDMAN SACHS & CO TRADE DATE 12/20/04 519,778.26 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) - 519,778.26 519,778.26 Amount USD - 1,105,564.30 - 300,000.00 EFTA01554600 12 Settlement Date JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 37 of 43 U S Dollar Activity by Date Type continued Quantity Description Dec 22 Misc. Receipt WALT DISNEY CO EQUITY SWAP 24,954,900 USD NOTIONAL JAN 19 2005 DEAL REF t 2353480 PAYMENT DUE TO PARTIAL UNWIND OF SWAP Dec 22 Purchase Dec 24 Misc. Receipt 171,751.29 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) WALT DISNEY CO EQUITY SWAP 24,954,900 USD NOTIONAL JAN 19 2005 DEAL REF t 2353480 PAYMENT DUE TO PARTIAL UNWIND OF SWAP Dec 24 Buy-Back Opt 5,000,000 AUD CALL USD PUT FX EUROPEAN STYLE OPTION DEC 23, 2004 @ .69 KNOCK IN TRIGGERED @ .7250 KNOCK OUT @ .65 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 12/22/04 Dec 27 Purchase 42,066.80 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) - 42,066.80 - 376,050.00 - 171,751.29 418,116.80 Amount USD 171,751.29 EFTA01554601 12 Settlement Date JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 38 of 43 U S Dollar Activity by Date Type continued Quantity Description Dec 28 Free Delivery - 65,700 WALT DISNEY CO EQUITY SWAP 24,954,900 USD NOTIONAL JAN 19 2005 DEAL REF t 2353480 PARTIAL UNWIND OF EQUITY SWAP JPMORGAN CHASE BANK TRADE DATE 12/17/04 AS OF 12/22/04 Dec 28 Free Delivery - 161,500 WALT DISNEY CO EQUITY SWAP 24,954,900 USD NOTIONAL JAN 19 2005 DEAL REF t 2353480 PARTIAL UNWIND OF EQUITY SWAP JPMORGAN CHASE BANK TRADE DATE 12/21/04 AS OF 12/24/04 Dec 28 Free Delivery - 26,900 WALT DISNEY CO EQUITY SWAP 24,954,900 USD NOTIONAL JAN 19 2005 DEAL REF t 2353480 PARTIAL UNWIND OF EQUITY SWAP JPMORGAN CHASE BANK TRADE DATE 12/22/04 AS OF 12/27/04 Dec 28 Free Delivery - 250,500 WALT DISNEY CO EQUITY SWAP 24,954,900 USD NOTIONAL JAN 19 2005 DEAL REF t 2353480 PARTIAL UNWIND OF EQUITY SWAP JPMORGAN CHASE BANK TRADE DATE 12/23/04 Amount USD EFTA01554602 12 Settlement Date JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 39 of 43 U S Dollar Activity by Date Type continued Quantity Description Dec 28 Misc. Receipt INTEREST RATE SWAP 5,000,000 USD NOTIONAL DEC 7 2014 REC: FLOATING RATE USD 3 MONTH LIBOR PAY FIXED RATE 4.75% SEMI-ANNUAL 30/360 ALMAC 44 6778910 PARTIAL UNWIND OF EQUITY SWAP AS OF 12/27/04 Dec 28 Misc. Receipt INTEREST RATE SWAP 5,000,000 USD NOTIONAL DEC 7 2014 REC: FLOATING RATE USD 3 MONTH LIBOR PAY FIXED RATE 4.75% SEMI-ANNUAL 30/360 ALMAC Y 6778910 PARTIAL UNWIND OF EQUITY SWAP Dec 28 Purchase 708,244.53 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) - 708,244.53 638,731.33 Amount USD 69,513.20 In Case of Errors or Questions About Your Electronic Transfers. Contact yourMorgan Teamat one ofthe telephonenumbers on the front of this statement or write us at 5 00 Stanton ChristianaRoad, 1/OPS, Newark,DE19713-2107 as soon as you can, if you think yourstatement is wrong or if you needmore information about a transfer on the statement. We must hearfrom you no laterthan 60 days afterwe sent you the FIRSTstatement on w hich the erroror problem appeared. (1) Tellus yourname and account number. (2) Describethe erroror t he transferyou are unsure about, and explainas clearly as you can why you believe it is in erroror why you need more information. (3) tell us the dollaramount of the suspected error. Ifyou contact us orally, you must send us your complaint or question in wri ting within 10 business days in order to preserveyour rights. We will investigateyourcomplaint and will correct any errorpromptly. Ifwe take more than 10 business days to do this (20 days for purchases using yourdebit card or for internationaltransactions),we will credi t youraccount for the amount you think is in error, so that you will have the use ofmoneyduring the time it takes us to complete our investigation. EFTA01554603 12 JPMorgan Chase Bank, N.A. 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio December 01, 2004 - December 31, 2004 Page 40 of 43 In case of errors or questions about your statement, including your line of credit. If you think that your statement is incorrect or if you need more information about a transaction on your statement including a line of credit transaction, you must write to us on a separate sheet des cribing the error and send it to: JPMorgan, Private Bank, 500 Stanton Christiana Road, 1/01'53, Newark, DE 19713-2107. We must hear from you no 1 ater than 60 days after the statement on which the error or problem appeared is sent. You can contac t your client service specialist but doing so will not preserve your rights. In your letter, please provide the following information: (1) your name and account number; (2) the dollar amount of the suspected error; and (3) a description of the error and explanation, if you can , why you believe there is an error. If you need more information, you must describe the item you are unsure about. The JPMorgan Funds or The JPMorgan Institutional Funds or The American Century Funds Shares of the funds are not bank deposits and are not guaranteedby any bank, governmententity, or th e FDIC. Return and share price will fluctuate and redemption valuemay be more or less than original cost. While the money ma