EFTA01554081.pdf

08 2004 Confidential FINANCIAL TRUST COMPANY INC Page 1 of 48 J.P. Morgan Portfolios August 1 - August 31, 2004 Table of Contents Page Account Summary Asset Account Portfolio Margin Account Portfolio illillIIIIINPMCB Iltli±1±9e= 2 3 46 000000.0000.00.0000.000.000000000.000000 FINANCIAL TRUST COMPANY INC ATTN: JEFFREY E EPSTEIN C/O AMERICAN YACHT HARBOR 6100 RED HOOK, QUARTERS 4B3 ST THOMAS 00802 US VIRGIN ISLDS EFTA01554081 08 2004 Portfolio Summary FINANCIAL TRUST COMPANY INC August 01, 2004 - August 31, 2004 Page 2 of 48 Portfolio Summary Net Worth Summary Asset Portfolio USD Q 30171-00-5 Assets(Long) Cash S Short Term Equities Other Options Liabilities (Short) Other Options Total FX Gain/Loss Accrued Income Total Net Worth Income Summary Dividends Total 87,830,991.39 67,780,116.59 11,982,860.70 7,881,664.10 186,350.00 - 5,379,633.84 - 3,230,999.62 - 2,148,634.22 82,451,357.55 986,668.09 75,137.53 83,513,163.17 Margin Portfolio USD 161121381 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 .00 0.00 0.00 87,830,991.39 67,780,116.59 11,982,860.70 7,881,664.10 186,350.00 - 5,379,633.84 - 3,230,999.62 - 2,148,634.22 82,451,357.55 986,668.09 75,137.53 83,513,163.17 This Period 67,138.83 67,138.83 Year to Date 310,937.81 310,937.81 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 EFTA01554082 on ("SIPC") insurance. Total USD EFTA01554083 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 3 of 48 Asset Account Portfolio August 1 - August 31, 2004 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 14 17 21 EFTA01554084 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 4 of 48 Overview Current 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 80% Cash and Short Term 14% Equities 6% Other Cash S Short Term Equities Other Options Total Foreign Exchange Accrued Income Total Portfolio Value Market Value USD Aug 31 67,780,116.59 11,982,860.70 4,650,664.48 - 1,962,284.22 82,451,357.55 986,668.09 75,137.53 83,513,163.17 Income Summary Dividends Total Net Gain/Loss Summary Net Short Term Gain/Loss Net Long Term Gain/Loss Total Prior Period Market Value USD Jul 31 68,151,001.78 11,469,856.44 4,716,104.60 - 2,548,415.32 81,788,547.50 1,646,571.77 67,138.83 83,502,258.10 This Period USD 67,138.83 67,138.83 Year to Date USD* 310,937.81 310,937.81 Tax Cost USD 67,780,116.59 8,003,201.28 - 141,519.28 75,641,798.59 Estimated Annual Income USD 932,654.40 Yield 1.4 0.0 EFTA01554085 0.0 932,654.40 N/A N/A 1.1 Realized This Period USD Realized Year to Date USD* 297,107.20 297,107.20 Unrealized USD 7,217,877.97 - 1,630,418.43 - 311,883.65 7,217,877.97 - 1,942,302.08 •Year to date information is calculated on a calendar year basis. Exchange Rates Spot Rates as of August 31, 2004 Market value of Options is not included in pie chart. Currency AUD CHF Exchange Rate 0.7061 1.2681 EFTA01554086 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 5 of 48 Exchange Rates Spot Rates as of August 31, 2004 Currency EUR GBP HKD HUF JPY NZD THB TWD ZAR Exchange Rate 1.2153 1.7989 7.7999 205.0525 109.7450 0.6561 41.6500 34.0400 6.6563 EFTA01554087 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 6 of 48 Cash and Short Term Summary by Maturity Current Market Value USD Cash Total 67,780,116.59 67,780,116.59 Estimated Annual Income USD 932,654.40 932,654.40 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: 1.38% POUND STERLING Total Cash USD 67,780,116.34 1.00 1.00 67,780,116.34 67,780,116.34 75,137.53 GBP 0.14 1.785714 0.25 67,780,116.59 0.25 67,780,116.59 75,137.53 932,654.40 1.38 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 932,654.40 1.38 EFTA01554088 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 7 of 48 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 CurrenCy/ 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 765,678 are liened USD Total Equity 765,678 765,678 15.65 11,982,860.70 11,982,860.70 N/A 0.00 N/A 0.0 EFTA01554089 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 8 of 48 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 EFTA01554090 08 Other Swaps in Alphabetical Order Description WALT DISNEY CO EQUITY SWAP 24,954,900 USD NOTIONAL JAN 19 2005 DEAL REF f 2353480 SWPBDA-FL-1 N/0 Client WALT DISNEY CO TOTAL RETURN SWAP 11,920,650 USD NOTIONAL FEB 14 2005 DEAL REF f 2361214 SWPBDA-FV-9 N/0 Client Structured Investments in Alphabetical Order Description 6 MONTH CHF LINKED STRUCTURE 100% PRINCIPAL PROTECTED IN CHF JPMORGAN LONDON 12/6/2004 638998-9A-4 Bearer Total Other Market Value USD Currency CHF Quantity 10,000,000 Unit Cost 100.00 PriCe/Unit 99.9433 Tax Cost 8,003,201.28 Accrued Income USD Unrealized Estimated Annual Gain/Loss USD 7,881,664.10 - 121,537.18 Income USD Yield % N/A - 736,056.10 Trade Date Maturity Date Estimated Value USD - 2,494,943.52 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 9 of 48 10,000,000 8,003,201.28 4,650,664.48 - 121,537.18 EFTA01554091 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 10 of 48 Options Foreign Exchange Description Cusip JPY PUT USD CALL FX EUROPEAN STYLE OPTION NOV 04, 2004 @ 111. KNOCK IN TRIGGERED @ 112.5 KNOCK OUT @ 106.25 XJPYPA-J14-2 EUR PUT USD CALL FX EUROPEAN STYLE OPTION DEC 06, 2004 @ 1.1 XEURPA-OP-2 AUD CALL USD PUT FX EUROPEAN STYLE OPTION DEC 23, 2004 @ .69 KNOCK IN TRIGGERED @ .7250 KNOCK OUT @ .65 XAUDCA-CD-2 EUR CALL CHF PUT FX EUROPEAN STYLE OPTION FEB 09, 2005 @ 1.5395 KNOCK IN @ 1.5525 KNOCK OUT @ 1.5045 XEURCA-XL-2 EUR PUT USD CALL FX EUROPEAN STYLE OPTION FEB 10, 2005 @ 1.22 KNOCK IN @ 1.195 XEURPA-PD-2 EUR - 22,000,000 USD - 26,840,000.00 USD - 665,632.00 - 665,632.00 - 795,219.92 - 129,587.92 EUR - 23,000,000 CHF - 35,408,500.00 USD - 169,326.00 - 169,326.00 - 160,941.03 8,384.97 AUD - 5,000,000 USD - 3,450,000.00 USD - 62,445.00 - 62,445.00 - 115,550.00 - 53,105.00 EUR 20,000,000 USD 22,000,000.00 USD 96,800.00 96,800.00 20,064.00 - 76,736.00 Counter Amount Currency Counter Premium Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD JPY -1,110,000,000 USD - 10,000,000.00 USD - 138,000.00 - 138,000.00 - 85,303.50 EFTA01554092 52,696.50 EFTA01554093 08 Cusip JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 11 of 48 Foreign Exchange Description JPY PUT USD CALL FX EUROPEAN STYLE OPTION FEB 09, 2005 @ 115. XJPYPA-KB-Z ZAR PUT USD CALL FX EUROPEAN STYLE OPTION OCT 14, 2004 @ 6.4 KNOCK IN TRIGGERED @ 6.7 XZARPA-AL-Z HKD PUT USD CALL FX EUROPEAN STYLE OPTION SEP 23, 2004 @ 7.833 XHKDPA-AH-Z EUR CALL USD PUT FX EUROPEAN STYLE OPTION NOV 01, 2004 @ 1.3 KNOCK OUT @ 1.1375 KNOCK OUT @ 1.21 BARRIER EXP 12/1/03 XEURCA-TQ-Z AUD PUT USD CALL FX EUROPEAN STYLE OPTION OCT 11, 2004 @ .7775 KNOCK IN TRIGGERED @ .7565 KNOCK OUT @ .8020 XAUDPA-CQ-Z NZD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 22, 2004 @ .68 KNOCK IN TRIGGERED @ .6625 XNZDPA-DC-Z NZD - 3,013,500 USD - 2,049,180.00 USD - 85,040.97 - 85,040.97 - 111,790.39 - 26,749.42 AUD - 4,000,000 USD - 3,110,000.00 USD - 106,673.20 - 106,673.20 - 296,258.92 - 189,585.72 EUR 10,000,000 USD 13,000,000.00 USD 56,447.00 56,447.00 14,644.40 - 41,802.60 HKD 156,660,000 USD 20,000,000.00 USD 312,280.00 312,280.00 396.35 - 311,883.65 ZAR - 46,080,000 USD - 7,200,000.00 USD - 194,400.00 - 194,400.00 - 404,588.85 - 210,188.85 Counter Amount Currency continued JPY 2,300,000,000 USD 20,000,000.00 USD 190,000.00 190,000.00 126,753.00 - 63,247.00 Counter Premium EFTA01554094 Amount Currency Premium Local Premium USD Current Market Value USD Unrealized Gain/Loss USD EFTA01554095 08 Cusip JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 12 of 48 Foreign Exchange Description NZD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 22, 2004 @ .68 KNOCK IN TRIGGERED @ .6625 XNZDPA-DB-Z AUD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 22, 2004 @ .77 KNOCK IN TRIGGERED @ .755 KNOCK OUT @ .7965 XAUDPA-DH-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. XTHECA-AB-Z TWD CALL USD PUT FX EUROPEAN STYLE OPTION MAR 01, 2005 @ 32.75 XTWDCA-AB-Z 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. - 141,519.28 - 1,962,284.22 - 1,820,764.90 TWD 327,500,000 USD 10,000,000.00 USD 196,000.00 196,000.00 21,598.63 - 174,401.37 THB 351,500,000 USD 9,250,000.00 USD 108,225.00 108,225.00 2,488.62 - 105,736.38 THB 2,700,000,000 USD 75,000,000.00 USD 405,000.00 405,000.00 405.00 - 404,595.00 AUD - 1,500,000 USD - 1,155,000.00 USD - 23,561.94 - 23,561.94 - 105,289.35 - 81,727.41 Counter Amount Currency continued NZD - 1,986,500 USD - 1,350,820.00 USD - 61,192.17 - 61,192.17 - 73,692.26 - 12,500.09 Counter Premium Amount Currency Premium Local Premium USD Current Market EFTA01554096 Value USD Unrealized Gain/Loss USD EFTA01554097 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 13 of 48 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 vial 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. EFTA01554098 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 14 of 48 Outstanding Foreign Exchange Contracts Net Currency Exposure Summary Swiss Franc Euro Currency Pound Sterling Hungarian Forint Japanese Yen U S Dollar Value in Currency 22,953,000.00 - 15,000,000.00 5,000,000.00 887,940,000.00 - 1,567,500,000.00 2,335,155.82 Gain/Loss Summary Total Unrealized Closed Value in USD Total Unrealized Open Total Unrealized Gain/Loss - 39,500.00 1,026,168.09 986,668.09 Foreign Exchange Contracts Settlement Date Trade Date SPECULATIVE AUSTRALIA DOLLAR - U S DOLLAR Total Closed Jul. 7 04 Sep. 9 04 AUD Jul. 8 04 Sep. 9 04 AUD Jul. 12 04 Sep. 14 04 AUD Apr. 16 04 Oct. 20 04 AUD Apr. 23 04 Oct. 20 04 AUD Total Open Total SWISS FRANC Aug. 16 04 Sep. 14 04 CHF - 10,000,000.00 USD 10,000,000.00 USD 0.00 - 13,000,000.00 USD 10,000,000.00 USD 3,000,000.00 USD 0.00 0.00 - EURO CURRENCY 22,953,000.00 EUR - 15,000,000.00 1.5302 1.539992 18,110,285.25 18,226,170.04 - 115,884.79 7,166,000.00 - 7,180,000.00 - 14,000.00 9,361,300.00 - 7,289,000.00 - 2,148,600.00 - 76,300.00 - 90,300.00 0.7166 0.718 0.7201 0.7289 0.7162 0.705445 0.705445 EFTA01554099 0.705053 0.702503 0.702503 7,166,000.00 7,054,448.74 14,220,448.74 9,361,300.00 7,025,032.35 2,107,509.70 18,493,842.05 32,714,290.79 7,054,448.74 7,180,000.00 14,234,448.74 9,165,691.79 7,289,000.00 2,148,600.00 18,603,291.79 32,837,740.53 111,551.26 - 125,551.26 - 14,000.00 195,608.21 - 263,967.65 - 41,090.30 - 109,449.74 - 123,449.74 Currency Amount Counter Currency Counter Amount Contract Rate Current Market Forward Rate Market Value Receivables USD Market Value Payables USD Unrealized Gain/Loss USD EFTA01554100 08 Trade Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 15 of 48 Foreign Exchange Contracts Settlement Date Currency EURO CURRENCY - U S DOLLAR Apr. 16 04 Oct. 20 04 EUR Apr. 23 04 Oct. 20 04 EUR May. 3 04 Oct. 20 04 EUR May. 11 04 Oct. 20 04 EUR May. 17 04 Oct. 20 04 EUR Total Closed Aug. 13 04 Sep. 14 04 GBP Jul. 12 04 Sep. 14 04 GBP Jul. 20 04 Sep. 14 04 GBP Aug. 4 04 Sep. 14 04 GBP Apr. 16 04 Oct. 20 04 GBP Apr. 23 04 Oct. 20 04 GBP 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 10,000,000.00 USD 3,000,000.00 USD - 10,000,000.00 USD - 1,500,000.00 USD - 1,500,000.00 USD 0.00 - 11,971,000.00 - 3,536,700.00 11,883,000.00 1,766,100.00 1,796,100.00 - 62,500.00 POUND STERLING - JAPANESE YEN POUND STERLING - U S DOLLAR 5,000,000.00 JPY - 13,000,000.00 USD 5,000,000.00 USD - 5,000,000.00 USD 10,000,000.00 USD 3,000,000.00 USD 0.00 HUNGARIAN FORINT - U S DOLLAR Jul. 13 04 Sep. 14 04 HUF Jul. 21 04 Sep. 14 04 HUF Aug. 17 04 Sep. 14 04 HUF Apr. 27 04 Oct. 20 04 HUF Apr. 28 04 Oct. 20 04 HUF Total Open JAPANESE YEN Jul. 12 04 Sep. 14 04 JPY Aug. 10 04 Sep. 14 04 JPY - 677,070,000.00 USD 677,070,000.00 USD - 806,280,000.00 USD 1,059,940,000.00 USD 634,280,000.00 USD EFTA01554101 887,940,000.00 - U S DOLLAR - 518,050,000.00 USD - 554,200,000.00 USD 4,797,647.71 5,000,000.00 107.98 110.84 109.669758 109.669758 4,797,647.71 5,000,000.00 4,723,727.02 5,053,352.99 73,920.69 - 53,352.99 - 1,013,300,000.00 24,048,700.00 - 9,250,000.00 9,059,000.00 - 17,725,000.00 - 5,232,300.00 900,400.00 3,268,501.08 - 3,286,747.57 4,000,000.00 - 4,803,280.91 - 2,859,564.49 - 3,681,091.89 1.1971 1.1789 1.1883 1.1774 1.1974 0.823313 0.823313 0.823313 0.823313 0.823313 12,146,049.67 3,643,814.90 11,883,000.00 1,766,100.00 1,796,100.00 31,235,064.57 202.66 1.8499 1.85 1.8118 1.7725 1.7441 197.03627 1.796633 1.796633 1.796633 1.791105 1.791105 8,983,163.37 24,048,700.00 8,983,163.37 9,059,000.00 17,911,049.73 5,373,314.91 65,375,228.01 207.15 206.00 201.57 220.67 221.81 205.887857 205.887857 205.887857 207.879895 207.879895 3,268,501.08 3,288,537.79 4,000,000.00 5,098,809.57 3,051,184.91 EFTA01554102 18,707,033.35 11,971,000.00 3,536,700.00 12,146,049.67 1,821,907.45 1,821,907.45 31,297,564.57 9,239,557.17 23,356,224.76 9,250,000.00 8,983,163.37 17,725,000.00 5,232,300.00 64,546,688.13 3,288,537.79 3,286,747.57 3,916,112.44 4,803,280.91 2,859,564.49 18,154,243.20 175,049.67 107,114.90 - 263,049.67 - 55,807.45 - 25,807.45 - 62,500.00 - 256,393.80 692,475.24 - 266,836.63 75,836.63 186,049.73 141,014.91 828,539.88 - 20,036.71 1,790.22 83,887.56 295,528.66 191,620.42 552,790.15 EFTA01554103 08 Trade Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 16 of 48 Foreign Exchange Contracts Settlement Date Currency Apr. 16 04 Oct. 20 04 JPY May. 25 04 Oct. 20 04 JPY Total Open continued Amount Counter Currency 1,076,700,000.00 USD - 558,650,000.00 USD - 554,200,000.00 N ZEALAND DOLLAR - U S DOLLAR Jul. 7 04 Sep. 9 04 NZD Aug. 10 04 Sep. 9 04 NZD Mar. 11 04 Mar. 15 05 NZD Mar. 23 04 Mar. 15 05 NZD Total Closed Jul. 12 04 Sep. 14 04 NZD Aug. 4 04 Sep. 14 04 NZD Aug. 6 04 Sep. 14 04 NZD Aug. 10 04 Sep. 14 04 NZD Apr. 16 04 Oct. 20 04 NZD May. 27 04 Oct. 20 04 NZD May. 27 04 Oct. 20 04 NZD Total Open Total - 10,000,000.00 USD 10,000,000.00 USD 5,000,000.00 USD - 5,000,000.00 USD 0.00 - 20,000,000.00 USD - 10,000,000.00 USD 5,000,000.00 USD 5,000,000.00 USD 10,000,000.00 USD 5,000,000.00 USD 5,000,000.00 USD 0.00 0.00 Total Foreign Exchange Contracts Counter Amount - 10,000,000.00 5,000,000.00 4,797,647.71 6,483,000.00 - 6,514,000.00 - 3,102,500.00 3,170,500.00 37,000.00 13,096,000.00 6,389,000.00 - 3,252,000.00 - 3,269,000.00 - 6,276,000.00 - 3,127,000.00 - 3,127,000.00 434,000.00 471,000.00 Contract Rate 107.67 111.73 Current Market Forward Rate 109.480209 EFTA01554104 109.480209 Market Value Receivables USD 9,834,654.24 5,000,000.00 24,632,301.95 0.6483 0.6514 0.6205 0.6341 0.6548 0.6389 0.6504 0.6538 0.6276 0.6254 0.6254 0.655352 0.655352 0.640617 0.640617 0.654909 0.654909 0.654909 0.654909 0.651913 0.651913 0.651913 6,483,000.00 6,553,518.93 3,203,082.56 3,170,500.00 19,410,101.49 13,096,000.00 6,389,000.00 3,274,542.79 3,274,542.79 6,519,132.19 3,259,566.09 3,259,566.09 39,072,349.95 58,482,451.44 258,239,818.73 Market Value Payables USD 10,000,000.00 5,102,748.76 24,879,828.77 6,553,518.93 6,514,000.00 3,102,500.00 3,203,082.56 19,373,101.49 13,098,171.16 6,549,085.58 3,252,000.00 3,269,000.00 6,276,000.00 3,127,000.00 3,127,000.00 38,698,256.74 58,071,358.23 257,253,150.64 Unrealized Gain/Loss USD - 165,345.76 - 102,748.76 - 247,526.82 - 70,518.93 39,518.93 100,582.56 - 32,582.56 37,000.00 - 2,171.16 - 160,085.58 22,542.79 5,542.79 243,132.19 132,566.09 EFTA01554105 132,566.09 374,093.21 411,093.21 986,668.09 EFTA01554106 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 17 of 48 Trade Activity Realized Gain/Loss Summary Short Term Gain/Loss Long Term Gain/Loss Note: indicates Short Term Realized Gain/Loss indicates Long Term Realized Gain/Loss S L Capital gains and losses on sales with missing or incomplete tax cost are identified with N/A. Trade Date Settlement Date Settled Aug 2 Aug 4 Buy-Back Opt NZD PUT USD CALL Aug 9 Aug 11 Buy-Back Opt FX EUROPEAN STYLE OPTION DEC 23, 2004 @ .65 KNOCK IN @ .635 KNOCK OUT @ .68 AUD PUT USD CALL Aug 9 Aug 11 Write Option FX EUROPEAN STYLE OPTION APR 04, 2005 @ .7075 KNOCK OUT @ .7365 EUR CALL CHF PUT FX EUROPEAN STYLE OPTION FEB 09, 2005 @ 1.5395 KNOCK IN @ 1.5525 KNOCK OUT @ 1.5045 USD 10,000,000 - 302,250.00 244,400.00 - 57,850.00 S Realized Type Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD Amount USD 65,509.15 0.00 USD 20,000,000 - 413,180.00 458,460.00 45,280.00 S USD - 23,000,000 0.60 169,326.00 EFTA01554107 08 Trade Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 18 of 48 Settlement Date Realized Type Settled continued Aug 10 Aug 12 Write Option EUR PUT USD CALL Aug 11 Aug 13 Purchase Opt Aug 12 Aug 16 Write Option FX EUROPEAN STYLE OPTION FEB 10, 2005 @ 1.22 KNOCK IN @ 1.195 JPY PUT USD CALL FX EUROPEAN STYLE OPTION FEB 09, 2005 @ 115. ZAR PUT USD CALL Aug 17 Aug 19 Buy-Back Opt FX EUROPEAN STYLE OPTION OCT 14, 2004 @ 6.4 KNOCK IN @ 6.7 HUF PUT USD CALL Aug 19 Aug 23 Buy-Back Opt FX EUROPEAN STYLE OPTION SEP 16, 2004 @ 212. KNOCK IN @ 220 NZD PUT USD CALL FX EUROPEAN STYLE OPTION NOV 22, 2004 @ .68 KNOCK IN TRIGGERED @ .6625 Trade Date Settlement Date Counter Currency Settled Foreign Exchange Contracts SPECULATIVE AUSTRALIA DOLLAR - U S DOLLAR Jul 9 04 Aug 13 04 Aug 10 04 Aug 13 04 Aug 13 04 Aug 17 04 Aug 16 04 Aug 17 04 Feb 20 04 Aug 24 04 AUD - 10,000,000.00 USD 7,197,000.00 AUD 10,000,000.00 USD - 7,170,000.00 AUD 10,000,000.00 USD - 7,080,000.00 AUD - 10,000,000.00 USD AUD 7,500,000.00 USD - 5,676,750.00 7,175,000.00 0.719700 0.717000 0.708000 0.717500 0.756900 1.395000 0.717000 0.708000 0.708000 1.413500 7,197,000.00 - 7,170,000.00 - 7,080,000.00 7,175,000.00 - 5,676,750.00 - 7,168,458.78 EFTA01554108 7,170,000.00 7,080,000.00 - 7,080,000.00 5,305,978.06 28,541.22 Amount Currency Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD USD - 22,000,000 2.48 665,632.00 Description Currency Quantity Price/Unit Market Cost/Proceeds Tax Cost Gain/Loss USD USD USD 2,300,000,000 0.95 - 46,080,000 2.70 - 190,000.00 194,400.00 USD 1,060,000,000 - 17,500.00 265,000.00 247,500.00 S USD 11,436,500 - 318,850.00 322,738.03 3,888.03 S 95,000.00 - 370,771.94 EFTA01554109 OB Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 19 of 48 Settled Foreign Exchange Contracts Trade Settlement Date Currency Feb 20 04 Aug 24 04 Mar 1 04 Aug 24 04 SWISS FRANC Aug 5 04 Aug 6 04 Aug 16 04 Aug 16 04 Aug 16 04 Aug 16 04 SWISS FRANC Aug 16 04 Aug 16 04 AUD Counter Amount Currency continued 7,500,000.00 USD - 5,639,250.00 AUD - 15,000,000.00 USD 11,347,500.00 - EURO CURRENCY CHF 7,690,000.00 EUR - 5,000,000.00 CHF 15,352,000.00 EUR - 10,000,000.00 CHF - 22,987,500.00 EUR 15,000,000.00 - U S DOLLAR CHF EURO CURRENCY - U S DOLLAR May 17 04 Aug 6 04 May 27 04 Aug 6 04 Aug 6 04 Aug 6 04 Aug 6 04 Aug 9 04 Aug 10 04 Aug 10 04 Aug 16 04 Aug 16 04 Feb 20 04 Aug 24 04 Mar 1 04 Aug 24 04 Aug 4 04 Aug 6 04 Aug 6 04 Aug 6 04 Aug 16 04 EUR 0.751900 0.756500 1.538000 1.535200 1.532500 1.413500 1.413500 1.242350 0.810100 1.242350 0.810100 1.242350 0.809550 - 54,500.00 USD EUR - 5,000,000.00 USD EUR 43,789.17 5,993,500.00 5,000,000.00 USD - 6,127,000.00 EUR 10,000,000.00 USD - 12,240,000.00 EFTA01554110 EUR - 10,000,000.00 USD 12,271,000.00 EUR 10,000,000.00 USD - 12,240,000.00 EUR - 10,000,000.00 USD 12,258,000.00 7,500,000.00 USD - 9,395,250.00 9,287,250.00 EUR - 7,500,000.00 USD POUND STERLING - U S DOLLAR Jul 28 04 GBP - 5,000,000.00 USD GBP Aug 13 04 Aug 16 04 9,107,000.00 5,000,000.00 USD - 9,090,000.00 GBP 10,000,000.00 USD - 18,419,000.00 GBP - 10,000,000.00 USD 18,404,000.00 1.244600 1.198700 1.225400 1.224000 1.227100 1.224000 1.225800 1.252700 1.238300 1.818000 1.841900 1.840400 1.242350 1.225716 1.225716 1.224000 1.224000 1.234416 1.234416 1.212121 1.212121 1.844168 1.818000 1.840434 1.840434 - 5,639,250.00 5,305,978.06 11,347,500.00 - 10,611,956.13 6,189,882.07 - 6,172,077.52 12,357,226.22 - 12,344,155.04 - 18,503,239.81 18,528,812.30 - 333,271.94 735,543.87 17,804.55 13,071.18 25,572.49 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD 43,789.17 5,993,500.00 - 6,127,000.00 - 12,240,000.00 - 43,868.48 - 79.31 - 6,128,577.55 6,128,577.55 12,240,000.00 12,271,000.00 - 12,240,000.00 - 12,240,000.00 12,258,000.00 - 12,344,155.04 - 9,395,250.00 9,287,250.00 EFTA01554111 9,107,000.00 - 9,090,000.00 - 18,419,000.00 12,344,155.04 9,090,909.09 - 9,090,909.09 - 9,220,839.09 9,090,000.00 18,404,343.42 18,404,000.00 - 18,404,343.41 - 135,077.55 1,577.55 31,000.00 104,155.04 - 86,155.04 - 304,340.91 196,340.91 - 113,839.09 - 14,656.58 - 343.41 EFTA01554112 08 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 20 of 48 Settled Foreign Exchange Contracts Trade Settlement Date Currency Feb 23 04 Aug 24 04 Mar 1 04 Aug 24 04 Aug 4 04 Aug 6 04 Aug 6 04 Counter Amount Currency continued GBP 10,000,000.00 USD - 18,337,000.00 GBP - 10,000,000.00 USD 18,404,000.00 N ZEALAND DOLLAR - U S DOLLAR Jul 28 04 Aug 11 04 Aug 13 04 Aug 11 04 Aug 13 04 Feb 20 04 Aug 24 04 Feb 23 04 Aug 24 04 Aug 24 04 Mar 2 04 NZD - 10,000,000.00 USD 6,269,000.00 NZD 10,000,000.00 USD - 6,420,000.00 NZD - 10,000,000.00 USD NZD NZD 6,539,000.00 NZD 10,000,000.00 USD - 6,486,000.00 5,000,000.00 USD - 3,315,000.00 5,000,000.00 USD - 3,344,500.00 6,742,000.00 NZD - 10,000,000.00 USD 1.833700 1.840400 0.626900 0.642000 0.653900 0.648600 0.663000 0.668900 0.674200 1.795493 1.795493 1.530250 0.642000 0.648600 0.648600 1.527300 1.527300 1.527300 - 18,337,000.00 17,954,933.11 18,404,000.00 - 17,954,933.11 6,269,000.00 - 6,420,000.00 6,539,000.00 - 6,486,000.00 - 3,315,000.00 - 3,344,500.00 6,742,000.00 - 6,534,879.92 6,420,000.00 - 6,486,000.00 6,486,000.00 3,273,751.06 EFTA01554113 3,273,751.06 - 6,547,502.12 - 382,066.89 449,066.89 - 265,879.92 53,000.00 - 41,248.94 - 70,748.94 194,497.88 Counter Amount Contract Rate Revaluation Rate Contracted/ Base Amount USD Revalued Amount USD Realized Gain/Loss USD EFTA01554114 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 21 of 48 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 Foreign Exchange Gains/Losses Australia Dollar Activity by Date Settlement Date Type Aug 13 Fwd FX Ctrct Quantity Description 7,197,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL AUD CONTRACT RATE : 0.719700000 TRADE 7/09/04 VALUE 8/13/04 Aug 13 spot FX - 7,170,000 SPOT CURRENCY TRANSACTION - BUY BUY AUD SELL USD SPOT RATE : 0.717000000 TRADE 8/10/04 VALUE 8/13/04 AUSTRALIA DOLLAR U 5 DOLLAR - 276,000.00 - 35,000,000.00 .00 - 1,541.21 - 336,500,000.00 35,000,000.00 10,000,000.00 326,776,000.00 .00 Amount to Date Realized Amount Gain/Loss USD - 1,541.22 - 10,000,000.00 - 7,168,458.78 Amount USD 10,000,000.00 7,170,000.00 EFTA01554115 08 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 22 of 48 Australia Dollar Activity by Date Settlement continued Realized Type Aug 17 Spot FX Quantity Description 7,175,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL AUD SPOT RATE : 0.717500000 TRADE 8/16/04 VALUE 8/17/04 U S DOLLAR AUSTRALIA DOLLAR Aug 17 Spot FX - 7,080,000 SPOT CURRENCY TRANSACTION - BUY BUY AUD SELL USD SPOT RATE : 0.708000000 TRADE 8/13/04 VALUE 8/17/04 AUSTRALIA DOLLAR U S DOLLAR Aug 24 Fwd FX Ctrct - 5,676,750 SETTLE FORWARD CURRENCY CONTRACT BUY AUD SELL USD CONTRACT RATE : 0.756900000 TRADE 2/20/04 VALUE 8/24/04 Aug 24 Fwd FX Ctrct - 5,639,250 SETTLE FORWARD CURRENCY CONTRACT BUY AUD SELL USD CONTRACT RATE : 0.751900000 TRADE 2/20/04 VALUE 8/24/04 Aug 24 Fwd FX Ctrct 11,347,500 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL AUD CONTRACT RATE : 0.756500000 TRADE 3/01/04 VALUE 8/24/04 0.01 10,000,000.00 7,080,000.00 Gain/Loss USD - 10,000,000.00 - 7,175,000.00 Amount Amount USD 7,500,000.00 5,305,978.06 7,500,000.00 5,305,978.06 - 15,000,000.00 - 10,611,956.13 EFTA01554116 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 23 of 48 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 Foreign Exchange Gains/Losses Euro Currency Activity by Date Settlement Date Aug 3 Type Spot FX Quantity Description 12,086,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL EUR SPOT RATE : 1.208600000 TRADE 7/29/04 VALUE 8/03/04 U S DOLLAR EURO PRINCIPAL CURRENCY - 57,500,000.00 -00 - 12,579.74 - 30,000,000.00 - 400,599,332.92 57,500,000.00 29,941,124.64 400,658,208.28 .00 Amount to Date Realized Amount Gain/Loss USD 33,000.00 - 10,000,000.00 - 12,086,000.00 Amount USD EFTA01554117 08 Date Aug 3 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 24 of 48 Euro Currency Activity by Date Settlement continued Realized Type Spot FX Quantity Description - 12,053,000 SPOT CURRENCY TRANSACTION - BUY BUY EUR SELL USD SPOT RATE : 1.205300000 TRADE 7/30/04 VALUE 8/03/04 EURO PRINCIPAL CURRENCY U S DOLLAR Aug 6 Fwd FX Ctrct 5,993,500 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL EUR CONTRACT RATE : 1.198700000 TRADE 5/17/04 VALUE 8/06/04 Aug 6 Fwd FX Ctrct - 6,127,000 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL USD CONTRACT RATE : 1.225400000 TRADE 5/27/04 VALUE 8/06/04 Aug 10 Spot FX - 12,240,000 SPOT CURRENCY TRANSACTION - BUY BUY EUR SELL USD SPOT RATE : 1.224000000 TRADE 8/06/04 VALUE 8/10/04 EURO PRINCIPAL CURRENCY U S DOLLAR Aug 10 Spot FX 12,271,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL EUR SPOT RATE : 1.227100000 TRADE 8/06/04 VALUE 8/10/04 U S DOLLAR EURO PRINCIPAL CURRENCY Aug 16 Fwd FX Ctrct 7,690,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL EUR CONTRACT RATE : 1.538000000 TRADE 8/05/04 VALUE 8/16/04 - 2,515.95 - 5,000,000.00 - 6,172,077.52 Gain/Loss USD 10,000,000.00 12,053,000.00 Amount Amount USD - 5,000,000.00 - 6,128,577.55 5,000,000.00 6,128,577.55 10,000,000.00 12,240,000.00 - 10,000,000.00 - 12,271,000.00 EFTA01554118 08 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 25 of 48 Euro Currency Activity by Date Settlement continued Realized Type Aug 16 Fwd FX Ctrct Quantity Description - 12,240,000 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL USD CONTRACT RATE : 1.224000000 TRADE 8/06/04 VALUE 8/16/04 Aug 16 Fwd FX Ctrct 15,352,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL EUR CONTRACT RATE : 1.535200000 TRADE 8/06/04 VALUE 8/16/04 Aug 16 Fwd FX Ctrct 12,258,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL EUR CONTRACT RATE : 1.225800000 TRADE 8/09/04 VALUE 8/16/04 Aug 16 Spot FX - 22,987,500 SPOT CURRENCY TRANSACTION - BUY BUY EUR SELL CHF SPOT RATE : 0.809550000 TRADE 8/16/04 VALUE 8/16/04 EURO PRINCIPAL CURRENCY SWISS FRANC Aug 24 Fwd FX Ctrct - 9,395,250 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL USD CONTRACT RATE : 1.252700000 TRADE 2/20/04 VALUE 8/24/04 Aug 24 Fwd FX Ctrct 9,287,250 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL EUR CONTRACT RATE : 1.238300000 TRADE 3/01/04 VALUE 8/24/04 - 5,031.90 Gain/Loss USD 10,000,000.00 12,344,155.04 Amount Amount USD - 10,000,000.00 - 12,344,155.04 - 5,031.89 - 10,000,000.00 - 12,344,155.04 15,000,000.00 18,528,812.30 7,500,000.00 9,090,909.09 - 7,500,000.00 - 9,090,909.09 EFTA01554119 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 26 of 48 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 Foreign Exchange Gains/Losses N Zealand Dollar Activity by Date Settlement Date Aug 2 Type Spot FX Quantity Description 6,298,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NZD SPOT RATE : 0.629800000 TRADE 7/29/04 VALUE 8/02/04 U S DOLLAR N ZEALAND DOLLAR - 40,000,000.00 .00 114,879.92 - 20,000,000.00 - 280,284.94 - 479,964,616.52 40,000,000.00 29,964,616.52 470,280,284.94 .00 Amount to Date Realized Amount Gain/Loss USD - 16,000.00 - 10,000,000.00 - 6,298,000.00 Amount USD EFTA01554120 08 Date Aug 2 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 27 of 48 N Zealand Dollar Activity by Date Settlement continued Realized Type Spot FX Quantity Description - 6,314,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.631400000 TRADE 7/29/04 VALUE 8/02/04 N ZEALAND DOLLAR U 5 DOLLAR Aug 6 Fwd FX Ctrct 6,269,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NZD CONTRACT RATE : 0.626900000 TRADE 7/28/04 VALUE 8/06/04 Aug 6 Spot FX - 6,420,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.642000000 TRADE 8/04/04 VALUE 8/06/04 N ZEALAND DOLLAR U S DOLLAR Aug 13 Spot FX 6,539,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NZD SPOT RATE : 0.653900000 TRADE 8/11/04 VALUE 8/13/04 U S DOLLAR N ZEALAND DOLLAR Aug 13 Spot FX - 6,486,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.648600000 TRADE 8/11/04 VALUE 8/13/04 N ZEALAND DOLLAR U S DOLLAR 10,000,000.00 6,486,000.00 114,879.92 Gain/Loss USD 10,000,000.00 6,314,000.00 Amount Amount USD - 10,000,000.00 - 6,534,879.92 10,000,000.00 6,420,000.00 - 10,000,000.00 - 6,539,000.00 EFTA01554121 08 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 28 of 48 N Zealand Dollar Activity by Date Settlement continued Realized Type Aug 24 Fwd FX Ctrct Quantity Description - 3,315,000 SETTLE FORWARD CURRENCY CONTRACT BUY NZD SELL USD CONTRACT RATE : 0.663000000 TRADE 2/20/04 VALUE 8/24/04 Aug 24 Fwd FX Ctrct - 3,344,500 SETTLE FORWARD CURRENCY CONTRACT BUY NZD SELL USD CONTRACT RATE : 0.668900000 TRADE 2/23/04 VALUE 8/24/04 Aug 24 Fwd FX Ctrct 6,742,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NZD CONTRACT RATE : 0.674200000 TRADE 3/02/04 VALUE 8/24/04 Gain/Loss USD 5,000,000.00 3,273,751.06 Amount Amount USD 5,000,000.00 3,273,751.06 - 10,000,000.00 - 6,547,502.12 EFTA01554122 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 29 of 48 Account Transactions by Currency Pound Sterling Activity Summary Amount this Period Beginning Balance Credits Sales, Maturities, Redemptions Foreign Exchange Debits Foreign Exchange Ending Balance Foreign Exchange Gains/Losses Pound Sterling Activity by Date Settlement Date Aug 2 Type Spot FX Quantity Description 9,093,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL GBP SPOT RATE : 1.818600000 TRADE 7/29/04 VALUE 8/02/04 U S DOLLAR POUND STERLING Aug 2 Spot FX - 9,042,500 SPOT CURRENCY TRANSACTION - BUY BUY GBP SELL USD SPOT RATE : 1.808500000 TRADE 7/29/04 VALUE 8/02/04 POUND STERLING U S DOLLAR 5,000,000.00 9,042,500.00 - 30,000,000.00 - 14 130,839.08 - 218,699,999.86 30,000,000.00 13,000,000.00 205,700,000.00 .14 Amount to Date Realized Amount Gain/Loss USD 50,500.00 - 5,000,000.00 - 9,093,000.00 Amount USD EFTA01554123 08 Date Aug 6 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 30 of 48 Pound Sterling Activity by Date Settlement continued Realized Type Fwd FX Ctrct Quantity Description 9,107,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.821400000 TRADE 7/28/04 VALUE 8/06/04 Aug 6 Spot FX - 9,090,000 SPOT CURRENCY TRANSACTION - BUY BUY GBP SELL USD SPOT RATE : 1.818000000 TRADE 8/04/04 VALUE 8/06/04 POUND STERLING U S DOLLAR Aug 16 Fwd FX Ctrct - 18,419,000 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.841900000 TRADE 8/06/04 VALUE 8/16/04 Aug 16 Spot FX 18,404,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL GBP SPOT RATE : 1.840400000 TRADE 8/13/04 VALUE 8/16/04 U S DOLLAR POUND STERLING Aug 24 Fwd FX Ctrct - 18,337,000 SETTLE FORWARD CURRENCY CONTRACT BUY GBP SELL USD CONTRACT RATE : 1.833700000 TRADE 2/23/04 VALUE 8/24/04 Aug 24 Fwd FX Ctrct 18,404,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.840400000 TRADE 3/01/04 VALUE 8/24/04 - 0.01 10,000,000.00 17,954,933.11 Gain/Loss USD 130,839.09 - 5,000,000.00 - 9,220,839.09 Amount Amount USD 5,000,000.00 9,090,000.00 10,000,000.00 18,404,343.42 - 10,000,000.00 - 18,404,000.00 - 10,000,000.00 - 17,954,933.11 EFTA01554124 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 31 of 48 Account Transactions by Currency Swiss Franc Activity Summary Amount this Period Beginning Balance Credits Debits Foreign Exchange Purchases of Securities Foreign Exchange Ending Balance Swiss Franc Activity by Date Settlement Date Type Aug 16 Fwd FX Ctrct Quantity Description - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL EUR CONTRACT RATE : 1.538000000 TRADE 8/05/04 VALUE 8/16/04 Aug 16 Fwd FX Ctrct - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY CHF SELL EUR CONTRACT RATE : 1.535200000 TRADE 8/06/04 VALUE 8/16/04 Aug 16 Spot FX 15,000,000 SPOT CURRENCY TRANSACTION - SALE BUY EUR SELL CHF SPOT RATE : 1.240635375 TRADE 8/16/04 VALUE 8/16/04 EURO PRINCIPAL CURRENCY SWISS FRANC .00 23,042,000.00 73,576,000.00 - 23,042,000.00 .00 - 10,000,000.00 - 63,576,000.00 Amount to Date Realized Amount Gain/Loss USD 7,690,000.00 6,189,882.07 Amount USD 15,352,000.00 12,357,226.22 - 22,987,500.00 - 18,528,812.30 EFTA01554125 08 Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 32 of 48 Swiss Franc Activity by Date Settlement continued Realized Type Aug 16 Spot FX Quantity Description 43,789.17 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL CHF SPOT RATE : 1.244600000 TRADE 8/16/04 VALUE 8/16/04 U S DOLLAR SWISS FRANC Gain/Loss USD - 54,500.00 - 43,789.17 Amount Amount USD EFTA01554126 08 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 33 of 48 Account Transactions by Currency U S Dollar Activity Summary Amount this Period USD Beginning Balance Credits Dividends Sweep Account Sales Sales, Maturities, Redemptions Miscellaneous Receipts Foreign Exchange Debits Sweep Account Purchases Purchases of Securities Miscellaneous Disbursements Foreign Exchange Ending Balance - 1,164,068.81 - 1,241,780.00 - 351,391.19 - 158,389,250.00 .00 *Year to date information is calculated on a calendar year basis. - 133,300,878.66 - 23,250,389.70 - 7,254,312.84 - 1,511,692,251.8 67,138.83 1,534,954.00 1,029,356.00 158,515,039.17 310,937.81 93,075,876.35 29,763,661.00 963,054.02 1,551,584,303.85 .00 Amount Year to Date USD* U S Dollar Activity by Date Type Settlement Date Aug 2 Dividend Quantity Description JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) Amount USD 67,138.83 EFTA01554127 08 Settlement Date Aug 2 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 34 of 48 U S Dollar Activity by Date Type continued Quantity Description Spot FX - 10,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL NZD SPOT RATE : 0.629800000 TRADE 7/29/04 VALUE 8/02/04 U S DOLLAR N ZEALAND DOLLAR Aug 2 Spot FX 10,000,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.631400000 TRADE 7/29/04 VALUE 8/02/04 N ZEALAND DOLLAR U S DOLLAR Aug 2 Spot FX - 5,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL GBP SPOT RATE : 1.818600000 TRADE 7/29/04 VALUE 8/02/04 U S DOLLAR POUND STERLING Aug 2 Spot FX 5,000,000 SPOT CURRENCY TRANSACTION - BUY BUY GBP SELL USD SPOT RATE : 1.808500000 TRADE 7/29/04 VALUE 8/02/04 POUND STERLING U S DOLLAR Aug 2 Purchase 101,638.83 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) - 9,042,500.00 - 6,314,000.00 Amount USD 6,298,000.00 9,093,000.00 - 101,638.83 EFTA01554128 08 Settlement Date Aug 3 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 35 of 48 U S Dollar Activity by Date Type continued Quantity Description Spot FX - 10,000,000 SPOT CURRENCY TRANSACTION - SALE BUY USD SELL EUR SPOT RATE : 1.208600000 TRADE 7/29/04 VALUE 8/03/04 U S DOLLAR EURO PRINCIPAL CURRENCY Aug 3 Spot FX 10,000,000 SPOT CURRENCY TRANSACTION - BUY BUY EUR SELL USD SPOT RATE : 1.205300000 TRADE 7/30/04 VALUE 8/03/04 EURO PRINCIPAL CURRENCY U S DOLLAR Aug 3 Aug 4 Purchase Buy-Back Opt 33,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) 10,000,000 NZD PUT USD CALL FX EUROPEAN STYLE OPTION DEC 23, 2004 8 .65 KNOCK IN @ .635 KNOCK OUT @ .68 REPURCHASE OF WRITTEN FX OPTION TRADE DATE 08/02/04 Aug 4 Aug 6 Sale Fwd FX Ctrct - 302,250 - 5,000,000 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL EUR CONTRACT RATE : 1.198700000 TRADE 5/17/04 VALUE 8/06/04 302,250.00 5,993,500.00 - 12,053,000.00 Amount USD 12,086,000.00 - 33,000.00 - 302,250.00 EFTA01554129 08 Settlement Date Aug 6 JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 36 of 48 U S Dollar Activity by Date Type continued Quantity Description Fwd FX Ctrct 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY EUR SELL USD CONTRACT RATE : 1.225400000 TRADE 5/27/04 VALUE 8/06/04 Aug 6 Fwd FX Ctrct - 5,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL GBP CONTRACT RATE : 1.821400000 TRADE 7/28/04 VALUE 8/06/04 Aug 6 Fwd FX Ctrct - 10,000,000 SETTLE FORWARD CURRENCY CONTRACT BUY USD SELL NZD CONTRACT RATE : 0.626900000 TRADE 7/28/04 VALUE 8/06/04 Aug 6 Spot FX 5,000,000 SPOT CURRENCY TRANSACTION - BUY BUY GBP SELL USD SPOT RATE : 1.818000000 TRADE 8/04/04 VALUE 8/06/04 POUND STERLING U S DOLLAR Aug 6 Spot FX 10,000,000 SPOT CURRENCY TRANSACTION - BUY BUY NZD SELL USD SPOT RATE : 0.642000000 TRADE 8/04/04 VALUE 8/06/04 N ZEALAND DOLLAR U S DOLLAR Aug 6 Sale - 267,500 JP MORGAN INSTITUTIONAL PRIME MONEY INSTITUTIONAL CLASS SWEEP FUND (829) (SWEEP DEADLINE IS 4:30 PM EST) Amount USD - 6,127,000.00 9,107,000.00 6,269,000.00 - 9,090,000.00 - 6,420,000.00 267,500.00 EFTA01554130 08 Settlement Date JPMorgan Chase Bank 2004 Account Number: Q 30171-00-5 FINANCIAL TRUST COMPANY INC 345 Park Avenue, New York, NY 10154-1002 Asset Account Portfolio August 01, 2004 - August 31, 2004 Page 37 of 48 U S Dollar Activity by Date Type continued Quantity Description Aug 10 Free Delivery - 1 CROSS CURRENCY SWAP 10MM NZD NOTIONAL 6.51MM USD N