SAMPLE - Pershing LLCfiles.pershing.com/media/sample_yea_report.pdf · Pie chart allocation excludes all asset classes which net to a liability. All amounts and transactions displayed

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Account Number: 999–999999

Report Period: 2007

CUSTOMERNAME CUSTOMERLASTNAMEOR CUSTOMERNAME CUSTOMERLASTNAME 1234 TOWNLINE STREETAPT. #1234SOMEWHERE, MA 00000-0000

Your Investment Professional:Investment Professional Name(999) 999-9999

Page 1 of 30Clearing through Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation

Pershing LLC, member FINRA, NYSE, SIPC

SAMPLE20XX Year-End Account Report

Asset Allocation Value Value Percent Prior Year-End As of 12/31/07 Allocation

Cash and Cash Equivalents 100,500.00 415,988.33 9%

Fixed Income 2,375,750.00 2,332,566.00 50%

Equities 1,055,873.33 1,325,386.13 28%

Mutual Funds 605,350.75 89,301.89 2%

Annuities 100,000.00 214,753.25 5%

Global Cash Balances* 35,000.00 33,650.00 1%

Global Securities* 47,757.45 35,750.00 1%

Other 2,500.00 205,053.00 4%

Account Total (Pie Chart) $4,322,731.53 $4,652,448.60 100%

Securities Not Yet Received 15,639.21

Account Total $4,668,087.81

* Global Account Cash Balance and Global Account Securities are displayed in U.S. dollars based on interbank exchange rates as of 12/31/07. Exchange rates can vary.

NOTE: Unpriced securities in your account may cause the total brokerage assets to be understated.

Valuation at a Glance Year to Date

Beginning Account Value 4,322,731.53

Cash Deposits 15,336.68

Cash Withdrawals -4,500.00

Dividends/Interest 353.64

Fees -30,619.26

Change in Account Value 387,907.49

Ending Account Value $4,652,448.60

Estimated Annual Income $232,979.10

Your Account is 100% invested in Fixed Income.

Asset Allocation percentages are rounded to the nearest whole percentage. The Pie Chart will not display when all asset classes net to a liability.

Asset allocation percentages are rounded to the nearest whole percentage.

Pie chart allocation excludes all asset classes which net to a liability.

All amounts and transactions displayed in this sample year-end account report are only samples and do not represent actual transactions. Accordingly, no guidance should be inferred as to any specific transaction from the samples in this sample year-end account report.

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SAMPLESummary of Gains and Losses Realized Unrealized Year-to-Date Year-to-Date

Short-term Gain/Loss 389,987.43 241,940.73

Long-term Gain/Loss 765,234.55 7,939.00

Net Gain/Loss $1,155,221.98 $249,879.73This summary excludes transactions where cost basis information is not available.

Customer Service InformationYour Investment Professional: 456 Contact Information Customer Service Information

John Q. Representative 1234 Meadowlands Parkway P.O. Box 1234 Jersey City, NJ 07039-2002

Telephone Number: (999) 999-9999

Fax Number: (999) 999-9999

E-Mail Address: [email protected]

Service Hours: Monday - Friday 8:00 a.m. - 5:00 p.m. (ET)Saturday 12:00 p.m. - 4:00 p.m. (ET)

Customer Service Telephone Number: (999) 999-9999

To report a lost or stolen debit card or check call (999) 999-9999, 24 hours a day, 7 days a week.

Portfolio Manager: John Manager Portfolio Investment Style: Aggressive

Prior Year-End Fair Market Value: $4,437,695.35 will be furnished to the Internal Revenue Service

Related Bank Account Number: 12345678901234567890 Date of Birth: 12/01/1970

For additional information about other possible interested parties not listed here, call Your Investment Professional.


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Clearing through Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation

Pershing LLC, member FINRA, NYSE, SIPCAccount Number: 999–999999

SAMPLEPortfolio Holdings Activity Closing Accrued Income 30-Day Current Quantity Account Number Ending Balance Income This Year Yield Yield

Cash and Cash Equivalents – 99.99% of Portfolio

Cash Balance 144,791.80 0.00

Margin Balance 113,455.88 0.00

Short Account Balance 121,550.00 0.00

Money Market Funds

744,403.05 CASH RESERVE PRIME SERIES 35,944.61 1,875.33

Total Money Market Funds $415,742.29 $1,875.33

FDIC Insured Bank Deposits INSURED DEPOSIT PROGRAM

246.04 1234567890 4/26/07 246.04 7.03 45.44 N/A N/A

Total FDIC Insured Bank Deposits $246.04 $7.03 $45.44

Total Cash and Cash Equivalents $415,988.33 $1,882.36 $45.44

Portfolio Holdings

Fixed Income Acquisition Adjusted Unrealized Accrued Estimated Estimated Quantity Date Unit Cost Cost Basis Market Price Market Value Gain/Loss Interest Annual Income Yield

Fixed Income

Asset Backed Securities

FNMA GTD REMIC PASS THRU CTF REMIC TR199060 CL60K 5.500% 06/25/20 REG Factor: 0.02279283 DTD 06/01/90 Security Identifier: 31358EKM3500,000.00 03/10/03 98.7550 493,775.00 100.1960 500,980.00 7,205.00 N/A Original Cost Basis: Please Provide

Total Asset Backed Securities 5,000.00 $493,775.00 $500,980.00 $7,205.00 $0.00 $0.00


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SAMPLEPortfolio Holdings

Fixed Income (continued) Acquisition Adjusted Unrealized Accrued Estimated Estimated Quantity Date Unit Cost Cost Basis Market Price Market Value Gain/Loss Interest Annual Income Yield

Certificates of Deposits

LASALLE BK N A CHICAGO ILL CTF DEP CTF DEP ACT/365 S&P 500 LKD CD 0.000% 02/25/11 B/E DTD 08/25/04 Moody Rating AA 3 S & P R ating A+ Security Identifier: 51803URF4350,000.00 08/20/06 100.0140 350,050.00 107.1000 374,850.00 24,800.00 0.00 Original Cost Basis: $350,050.00 10,000.00 05/03/07 101.5000 10,150.00 107.1000 10,710.00 560.00 0.00 Original Cost Basis: $10,150.00 360,000.00

Total Certificates of Deposit 360,000.00 $360,200.00 $385,560.00 $25,360.00 $0.00 $0.00

Corporate Bonds

REPUBLIC OF VENEZUELA GLOBAL NTSISIN #USP31640AA69 REG S EURO BOND 9.125% 06/18/07 B/E DTD 06/17/97 CPN PMT SEMI ANNUAL ON JUN 18 AND DEC 18 Security Identifier: P31640AA6100,000.00 of these shares are in your margin account 500,000 07/14/06 105.0030 525,015.00 100.7500 503,750.00 -21,265.00 5,322.90 45,625.00 9.05% Original Cost Basis : $105,003.00

Total Corporate Bonds 500,000.00 $525,015.00 $503,750.00 -$21,265.00 $5,322.90 $45,625.00

Municipal Bonds

SACRAMENTO CALIF MUN UTIL DIST ELEC REV REV SER A 5.000% B/E DTD 11/01/07 MBIA INSURED Moody Rating AAA S&P Rating AAA Security Identifier: 13066YCW7275,000.00 03/15/07 103.7360 285,274.00 100.0000 275,000.00 -10,274.00 6,840.80 13,750.00 5.00% Original Cost Basis : $10,3735.50

Total Municipal Bonds 275,000.00 $285,274.00 $275,000.00 -$10,274.00 $6,840.00 $13,750.00


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Fixed Income (continued) Acquisition Adjusted Unrealized Accrued Estimated Estimated Quantity Date Unit Cost Cost Basis Market Price Market Value Gain/Loss Interest Annual Income Yield

U.S. Government Bonds

FEDERAL HOME LN BKS CONS BDS5.1% 02/28/2008 B/E DTD 02/28/2006 CALLABLE 1ST CPN DTE 08/28/06 Moody Rating AAA S&P Rating AAA Security Identifier: 3133XETV1300,000.00 03/16/06 100.0050 300,015.00 100.8440 302,532.00 2,517.00 2,634.99 0.87% Original Cost Basis : $100004.50

Total Government Bonds 300,000.00 $300,015.00 $302,532.00 $2,517.00 $2,634.99

U.S. Treasury Securities

US TREASURY NOTES3.5% 05/31/07 B/E DTD 05/31/07 1st CPN DTE 11/30/07 CPN PMT SEMI ANNUAL Moody Rating AAA S&P Rating AAA Securty Identifier: 912828DW7350,000.00 05/16/07 98.5990 345,096.50 99.8550 349,492.50 4,396.00 122,500.00 3.50% Original ost basis: $147898.64

Total U.S. Treasury Securities 350,00.00 $345,096.50 $349,492.50 $4,396.00 $122,500.00

Total Fixed Income $2,309,375.50 $2,317,314.50 $7,939.00 $12,163.70 $184,509.99


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Equities Acquisition Adjusted Unrealized Accrued Estimated Estimated Quantity Date Unit Cost Cost Basis Market Price Market Value Gain/Loss Interest Annual Income Yield

Equities – 99.99% of Portfolio

Common Stocks

AMERICAN ECOLOGY CORP COM NEW Dividend Option: Cash Security Identifier: ECOL10,000.00 01/10/07 18.8980 188,977.50 22.3500 223,500.00 34,522.50 6,000.00 2.68%

DISCOVERY HLDG CO COMM SER A Dividend Option Cash 27,000.00 of these shares are in your margin account Security Identifier: DISCA1,800.000 10/03/07 14.5520 26,193.81 16.2500 29,250.00 3,056.19

700.000 10/06/07 14.0400 9,827.98 16.2500 11,375.00 1,547.02 3,500.000 10/14/07 14.5080 50,777.26 16.2500 56,875.00 6,097.74 3,000.000 10/17/07 14.3350 43,004.95 16.2500 48,750.00 5,745.05 2,000.000 11/04/07 14.2180 28,436.14 16.2500 32,500.00 4,063.86 16,000.000 12/08/07 15.4670 247,467.00 16.2500 260,000.00 12,533.00 27,000.000 $405,707.14 $438,750.00 $33,042.86 $0.00

NATURAL RESOURCE PARTNERS L P SUBUNIT LTD PARTNERSHIP INT N EW NOV 2006 Dividend Option: Cash Security Identifier: NSP2,000.00 08/18/05 26.3050 52,610.89 35.2800 70,560.00 17,949.11 3640.00 5.15%

ROYAL BANK OF SCOTLAND GROUP PLORD ISIN# GB0007547838 Dividend Option: Cash Security Identifier: RBSPF500.00 9/26/05 29.2500 14,625.00 40.2100 20,105.42 5,480.42

UBS AG SHS NEW ISIN#CH0024899483 Dividend Option: Cash Security Identifier: UBS500.00 2/18/03 25.6690 12,834.50 63.9958 31,997.91 629.00

3 5RSTK WASTE CORP OF AMERICA LLC COM UNITS Dividend Option: Cash Security Identifier: 94199091333,334.00 09/23/98 N/A Please Provide 0.4500 15,000.30 N/A

Total Common Stocks $674,755.03 $799,913.63 $91,623.89 $9,640.00


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Equities (continued) Acquisition Adjusted Unrealized Accrued Estimated Estimated Quantity Date Unit Cost Cost Basis Market Price Market Value Gain/Loss Interest Annual Income Yield

Preferred Stock

COMCAST CORP SR NT 7.00% MTY 05/15/2055 CALLABLE 05/15/11@25 ISIN# US20030N3098 Dividend Option: Cash Security Identifier: CCT2,000.00 02/28/06 21.3300 42660.00 25.6700 51,340.00 8,680.00 3,500.00 0.07

NORTHSTAR RLTY FIN CORP 8.25% SER B PFD SHS Dividend Option: Cash Security Identifier: NRF PRB4,000.00 11/22/06 18.4300 73,720.00 25.0000 100,000.00 26,280.00 8,252.00 0.08

Total Preferred Stocks $116,380.00 $151,340.00 $34,960.00 $11,752.00

Options (Listings by expiration date)

20.000*- PUT 100 CONOCOPHILLIPS 0.6500 -1300.00EXP 01-20-07 @70 Option Identifier: COP=MN Underlying Security Price: $71.95 Underlying Security Identifier:COP

20.000*- CALL 100 FEDEX CORP 1.2000 -2,400.00EXP 01-20-07 @110 Option Identifier: FDX-AC Underlying Security Price: $108.62 Underlying Security Identifier: FDX

Total Options -$3,700.00

Real Estate Investment Trust

3CORPORATE OFFICE PPTY S TR COMDividend Option: Cash Security Identifier: OFC1,000.00 09/12/02 13.9000 13,900.00 47.1100 47,110.00 33,210.00 1,240.00 2.63% 500.00 09/12/02 12.7000 6,350.00 47.1100 23,555.00 17,205.00 620.00 2.63% 1,000.00 09/12/02 13.9000 13,900.00 47.1100 47,110.00 33,210.00 1,240.00 2.63% 500.00 09/12/02 12.7000 6,350.00 47.1100 23,555.00 17,205.00 620.00 2.63% 3,000.00 Total $40,500.00 $141,330.00 $100,830.00 $3,720.00


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Real Estate Investment Trust (continued)

3GLIMCHER RLTY TR SH BE N INT Dividend Option: Cash Security Identifier: GRT2,500.000 09/12/02 18.8500 47,125.00 27.0100 67,525.00 20,400.00 4,807.50 7.11%

2,500.000 09/12/02 18.8500 47,125.00 27.0100 67,525.00 20,400.00 4,807.50 7.11%

5,000.000 Total $94,250.00 $135,050.00 $40,800.00 $9,615.00

Total Real Estate Investment Trusts $134,750.00 $276,380.00 $141,630.00 $13,335.00

Total Equities $809,505.03 $1,076,293.63 $233,253.89 $26,695.00

Mutual Funds

FIRST ISRAEL FUND INC COMClosed End Fund Security Identifier: ISLDividend Option: Cash 500.00 10/20/06 17.000 8,500.00 18.0500 9,025.00 525.00 85.00 1% 500.00 11/16/06 18.000 9,000.00 18.0500 9,025.00 25.00 85.00 1% 1,000.00 $17,500.00 $18,050.00 $550.00 $170.00

ISHARES INC MSCI SINGAPORE INDEX FDExchange Traded Fund Security Identifier: EWSDividend Option: Cash 500.00 01/22/07 11.8700 5,934.95 12.0500 6,025.00 90.05 154.50 2.56%

KANDIA US Capital Growth FundCLASS B (OFFSHORE) Open End Fund Security Identifier: G81790209Dividend Option:Cash Capital Gain Option: Cash 4256.188 07/25/05 11.7480 50,003.00 13.1429 55,938.65 5,935.65

GROWTH FUND OF AMERIC A CLASS F Open End Fund Security Identifier: GFAFXDividend Option: Reinvest Capital Gain Option: Reinvest 292.451 Average 24.5410 7,177.10 31.7600 9,288.24 2,111.14 57.61 0.57%

Total Mutual Funds $80,615.05 $89,301.89 $8,686.84 $382.11

Total Equities


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Other Securities

Unit Investment Trusts

OHIO INSD MUNS INCOME TR UNIT SER 68 S/A Security Identifier: 677383739100.00 03/03/06 n/a Please Provide 303.66 30,366.00 1,096.00

Total Unit Investment Trusts $30,366.00 $1,096.00

Precious Metals

OZS. SILVER STORAGE FIDELITRAE/BROOKS“NO SIPC COVERAGE” Security Identifier: 9999981807,575.00 5/12/01 Please Provide n/a 99,687.00

Total Precious Metals $99,687.00

Money Market Instruments

NUOVEEN CALIF QUOLITY INCOME MUN FD INC MUN ACTION RTE PFD SER W CALLABLE Security Identifier: 6709852083.00 10/19/05 25000 75,000.00 25,000.00 75,000.00 2,820.30 3.76%

Total Money Market Instruments $75,000.00 $75,000.00 $2,820.30

Total Other Securities $75,000.00 $205,053.85 $3,916.30

Total Other $75,000.00 $205,053.85 $3,916.30

Total Portfolio Holdings $4,471,784.70 $215,503.40

NOTE: Cost Basis on fixed income securities is adjusted for amorization or principal paydowns. Orignal cost basis is provided under the corresponding tax lot. 1 This bond is maturing3 The cost basis of securities positions acquired prior to the availabilty of the PORTFOLIO EVALUATION SERVICE for this account, or delivered into this account, has been provided to PERSHING by your

financial institution, and we make no representation as to accuracy of such cost basis.5 Unrealized gains and losses are not reported for securities for which cost basis or market value is not available.


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SAMPLEDisclosures and Other Information

Pricing – Securities prices may vary from actual liquidation value. Prices shown should only be used as a general guide to portfolio value. Prices are received from various pricing services. However, pricing ser-vices are sometimes unable to provide timely information. Where pricing sources are not readily available, particularly on certain debt securities, estimated prices may be generated by a matrix system taking various factors into consideration. The pricing of listed options takes into account the last closing price, as well as the current bid and offer prices. Where securities have not been priced, such securities have not been included in the Asset Valuation information at the beginning of this statement.”

Reinvestment – The dollar amount of Mutual Fund distributions, Money Market Fund dividend income, Bank Deposit interest income, or dividends for other securities shown on your Statement may have been reinvested.You will not receive confirmation of these reinvestments. However, information pertaining to these transactions which would otherwise appear on confirmations, including the time of execution and the name of the person from whom your security was purchased, will be furnished to you upon written request to your introducing firm. In dividend reinvestment transactions, Pershing acts as your agent and receives payment for order flow, the source and nature of which payment will be furnished to you upon written request to your introducing firm.”

Option Disclosure: Information with respect to commissions and other charges that occurred in connection with the execution of option transactions has been included in confirmations previously furnished to you. A summary of the information is available to you promptly upon your written request directed to your introducing firm. In order to assist your introducing firm in maintaining current background and financial information concerning your option accounts, please promptly advise them in writing of any material change in your investment objectives or financial situation. Expiring options which are valuable are exercised automatically pursuant to the exercise exception procedure of the Options Clearing Corporation. Additional information regarding this procedure is available upon written request to your introducing firm.

Foreign Currency Transactions – Pershing may execute foreign currency transactions as principal for your account. Pershing may automatically convert foreign currency to or from U.S. dollars for dividends and similar corporate action transactions unless you instruct your financial organization otherwise. Pershing’s currency conversion rate will not exceed the highest interbank conversion rate identified from customary banking sources on the conversion date or the prior business day, increased by up to 1%, unless a particular rate is required by applicable law. Your financial organization may also increase the currency conversion rate. This conversion rate may differ from rates in effect on the date you executed a transaction, incurred a charge, or received a credit. Transactions converted by agents (such as depositories) will be billed at the rates such agents use.

Portfolio Holdings Closing Accrued Income 30-Day Current Quantity Description Balance Interest This Year Yield Yield

Cash and Cash Equivalents – 99.99% of Portfolio

Cash Balance 144,791.80

Margin Balance 113,455.88

Short Account Balance 121,550.00

Money Market Funds

744,403.05 CASH RESERVE PRIME SERIES 35,944.61 1,875.33

Total Money Market Funds $415,742.29 $1,875.33

FDIC Insured Bank Deposits

INSURED DEPOSIT PROGRAM

246.04 1234567890 4/26/07 246.04 7.03 45.44

Total FDIC Insured Bank Deposits $246.04 $7.03 $45.44

Total Cash and Cash Equivalents $415,988.33 $1,882.36 $45.44


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SAMPLEPortfolio Holdings Market Market Accrued Estimated Estimated Quantity Description Price Value Interest Annual Income Yield

Fixed Income

Asset Backet Securities

500,000.00 FNMA GTD REMIC PASS THRU CTF REMIC 100.1960 500,980.00 TR199060 CL60K 5.500% 06/25/20 REG Factor: 0.02279283 DTD 06/01/90 Security Identifier: 31358EKM3

Total Asset Backed Securities $500,980.00

Certificates of Deposit

360,000.00 LASALLE BK N A CHICAGO ILL CTF DEP 107.1000 385,560.00 CTF DEP ACT/365 S&P 500 LKD CD 0.000% 02/25/11 B/E DTD 08/25/04 Moody Rating AA 3 S & P R ating A+ Security Identifier: 51803URF4

Total Certificates of Deposit $385,560.00 $0.00

500,000.00 REPUBLIC OF VENEZUELA GLOBAL NTS 100.7500 503,750.00 5,322.90 45,625.00 9.05%ISIN #USP31640AA69 REG S EURO BOND 9.125% 06/18/07 B/E DTD 06/17/97 CPN PMT SEMI ANNUAL ON JUN 18 AND DEC 18 Security Identifier: P31640AA6

Total Corporate Bonds $503,750.00 $45,625.00

Municipal Bonds

275,000.00 SACRAMENTO CALIF MUN UTIL DIST ELEC REV 100.0000 275,000.00 6,840.80 13,750.00 5.00% REV SER A 5.000% B/E DTD 11/01/07 MBIA INSURED Moody Rating AAA S&P Rating AAA Security Identifier: 13066YCW7

Total Municipal Bonds $275,000.00 $13,750.00

U.S. Government Bonds

300,000.00 FEDERAL HOME LN BKS CONS BDS 100.8440 302,532.00 2,634.99 0.87% 5.1% 02/28/2008 B/E DTD 02/28/2006 CALLABLE 1ST CPN DTE 08/28/06 Moody Rating AAA S&P Rating AAA Security Identifier: 3133XETV1

Total US Government Bonds $302,532.00 $2,634.99


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SAMPLEPortfolio Holdings Market Market Accrued Estimated Estimated Quantity Description Price Value Interest Annual Income Yield

Fixed Income

Asset Backet Securities

U.S. Treasury Securities

350,000.00 US TREASURY NOTES 99.8550 349,492.50 122,500.00 3.50% 3.5% 05/31/07 B/E DTD 05/31/07 1st CPN DTE 11/30/07 CPN PMT SEMI ANNUAL Moody Rating AAA S&P Rating AAA Securty Identifier : 912828DW7

Total U.S. Treasury Securities $349,492.50 $122,500.00

Total Fixed Income $2,317,314.50 $12,163.70 $184,509.99

Market Market Estimated Estimated Quantity Description Price Value Annual Income Yield


Common Stocks

10,000.00 AMERICAN ECOLOGY CORP COM NEW 22.3500 223,500.00 6,000.00 2.68% Dividend Option: Cash Security Identifier: ECOL

27,000.000 DISCOVERY HLDG CO COMM SER A 16.2500 438,750.00 Dividend Option Cash 27,000.00 of these shares are in your margin account Security Identifier: DISCA

2,000.00 NATURAL RESOURCE PARTNERS L P SUB 35.2800 70,560.00 3,640.00 5.15% UNIT LTD PARTNERSHIP INT N EW NOV 2006 Dividend Option: Cash Security Identifier: NSP

500.00 ROYAL BANK OF SCOTLAND GROUP PLC 40.2100 20,105.42 ORD ISIN# GB0007547838 Dividend Option: Cash Security Identifier: RBSPF

500.00 UBS AG SHS NEW 63.9958 31,997.91 ISIN#CH0024899483 Dividend Option: Cash Security Identifier: UBS


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SAMPLEPortfolio Holdings Market Market Estimated Estimated Quantity Description Price Value Annual Income Yield


Common Stocks (continued)

33,334.00 3 5RSTK WASTE CORP OF AMERICA LLC COM 0.4500 15,000.30 UNITS Dividend Option: Cash Security Identifier: 941990913

Total Common Stocks $799,913.63 $9,640.00

Preferred Stock

2,000.00 COMCAST CORP SR NT 7.00% MTY 05/15/2055 25.6700 51,340.00 3,500.00 0.07 CALLABLE 05/15/11@25 ISIN# US20030N3098 Dividend Option: Cash Security Identifier: CCT

4,000.00 NORTHSTAR RLTY FIN CORP 8.25% SER B PFD 25.0000 100,000.00 8,252.00 0.08 SHS Dividend Option: Cash Security Identifier: NRF PRB

Total Preferred Stocks $151,340.00 $11,752.00

Options (Listed by Experation Date)

20.000*- PUT 100 CONOCOPHILLIPS 0.6500 -1300.00 EXP 01-20-07 @70 Option Identifier: COP=MN Underlying Security Price: $71.95 Underlying Security Identifier: COP

20.000*- CALL 100 FEDEX CORP 1.2000 -2,400.00 EXP 01-20-07 @110 Option Identifier: FDX-AC Underlying Security Price: $108.62 Underlying Security Identifier: FDX

Total Options -$3,700.00

Mutual Funds

1,000.00 FIRST ISRAEL FUND INC COM 18.0500 18,050.00 170.00 1% Closed End Fund Security Identifier: ISLDividend Option: Cash


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Mutual Funds (continued)

500.00 ISHARES INC MSCI SINGAPORE INDEX FD 12.0500 6,025.00 154.50 2.56% Exchange Traded Fund Security Identifier: EWSDividend Option: Cash

4256.188 SKANDIA US CAPITAL GROWTH FUND 13.1429 55,938.65CLASS B (OFFSHORE) Open End Fund Security Identifier: G81790209Dividend Option:Cash Capital Gain Option: Cash

292.451 GROWTH FUND OF AMERICA CLASS F 31.7600 9,288.24 57.61 0.62% Open End Fund Dividend Option: Reinvest Capital Gains Option: Reinvest Security Identifier: GFAFX

Total Mutual Funds $89,301.89 $382.11

Limited Partnerships

500,000.00 3LIFE SCIENCES OPPORTUNITIES FUND 0.3870 193,500.00 INSTUTIONAL II LIMITED PART NERSHIP Security Identifier: 532992260Valuation Date: 04/30/07 Valuation Code: A, H, C

3.267 3SMH LOMBARDI L L C 12500.0000 40,832.50 Security Identifier: 784994196Valuation Date: 11/30/05 Valuation Code: A, H, C

10.00 3SMH AGENCY LLC CLASS A 3400.0000 34,000.00 Security Identifier: 784994584Valuation Date: 04/26/07 Valuation Code: A, H, C

100,000.00 3SMH LIFE SCIENCES OPPTY FD 0.9950 99,500.00 LIMITED PARTNERSHIP Security Identifier: 786994111Valuation Date: 04/30/07 Valuation Code: A, H, C

Total Limited Partnerships $367,832.50

Total Equities $1,404,688.02 $21,774.11

Other Securities

Unit Investment Trusts

100.000 OHIO INSD MUNS INCOME TR UNIT 303.660 30,366.00 1,096.00 3.60% SER 68 S/A Security Identifier: 677383739

Total Unit Investment Trusts $30,366.00 $1,096.00


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Precious Metals

7,575.00 OZS. SILVER STORAGE FIDELITRADE/BROOKS 99,687.00 “NO SIPC COVERAGE” Security Identifier: 999998180

Total Precious Metals $99,687.00

Money Market Instruments

3.00 NUOVEEN CALIF QUOLITY INCOME MUN FD INC 25000.000 75,000.00 2,820.30 3.76% MUN ACTION RTE PFD SER W CALLABLE Security Identifier : 670985208

Total Money Market Instruments $75,000.00 $2,820.30

Total Other $205,053.00 $3,916.30

Total Portfolio Holdings $4,343,043.85 $12,170.73 $210,200.40

Disclosures and Other Information

Pricing – Securities prices may vary from actual liquidation value. Prices shown should only be used as a general guide to portfolio value. Prices are received from various pricing services. However, pricing services are sometimes unable to provide timely information. Where pricing sources are not readily available, particularly on certain debt securities, estimated prices may be generated by a matrix system taking various factors into consideration. The pricing of listed options takes into account the last closing price, as well as the current bid and offer prices. Where securities have not been priced, such securities have not been included in the Asset Valuation information at the beginning of this statement.”

Reinvestment – The dollar amount of Mutual Fund distributions, Money Market Fund dividend income, Bank Deposit interest income, or dividends for other securities shown on your Statement may have been reinvested. You will not receive confirmation of these reinvestments. However, information pertaining to these transactions which would otherwise appear on confirmations, including the time of execution and the name of the person from whom your security was purchased, will be furnished to you upon written request to your introducing firm. In dividend reinvestment transactions, Pershing acts as your agent and receives payment for order flow, the source and nature of which payment will be furnished to you upon written request to your introducing firm.”

Option Disclosure: Information with respect to commissions and other charges that occurred in connection with the execution of option transactions has been included in confirmations previously furnished to you. A summary of the information is available to you promptly upon your written request directed to your introducing firm. In order to assist your introducing firm in maintaining current background and financial information concerning your option accounts, please promptly advise them in writing of any material change in your investment objectives or financial situation. Expiring options which are valuable are exercised automatically pursuant to the exercise exception procedure of the Options Clearing Corporation. Additional information regarding this procedure is available upon written request to your introducing firm.

Foreign Currency Transactions – Pershing may execute foreign currency transactions as principal for your account. Pershing may automatically convert foreign currency to or from U.S. dollars for dividends and similar corporate action transactions unless you instruct your financial organization otherwise. Pershing’s currency conversion rate will not exceed the highest interbank conversion rate identified from customary banking sources on the conversion date or the prior business day, increased by up to 1%, unless a particular rate is required by applicable law. Your financial organization may also increase the currency conversion rate. This conversion rate may differ from rates in effect on the date you executed a transaction, incurred a charge, or received a credit. Transactions converted by agents (such as depositories) will be billed at the rates such agents use.

Proxy Voting – In accordance with your margin agreement with your financial organization and Pershing, securities held by you on margin (securities not fully paid for by you) may be lent by Pershing to others. Your right to vote your shares held on margin will be reduced by the amount of shares lent. Your Proxy Voting Instruction Form may reflect a number of shares entitled to vote which is less than the amount.


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SAMPLEAnnuities Quantity Description Market Price Market Value % Allocation

Variable Annuities AMERICAN SKANDIA AMERICAN SKANDIA ADVISORS PLANContract Number: 111111111 Security Identifier: 02964K20496.76 AST AllianceBernstein Growth 36.59 3,540.43 40%48.495 AST Goldman Sachs Concentrated 26.8241 1,300.84 15%31.224 AST Money Market 13.6262 425.46 5%51.466 AST American Century Income 17.1299 881.61 10%153.813 AST MFS Growth 8.5493 1,314.99 15%34.273 AST JP Morgan International Eq 38.4807 1,318.83 15%Total AMERICAN SKANDIA Valuation as of 12/28/06 $8,782.16 100%HARTFORD LIFE INSURANCE COMPANY HARTFORD LEADERS ACCESS HLA Contract Number: 777777777 Security Identifier: 416588820 21161.617 AIM GOV SEC 1.0795 22,844.45 12%949.508 FT LRG CAP GRS 11.7584 11,164.69 6%1918.613 MUTUAL DISCOVERY 19.6644 37,728.42 20%769.596 MFS VALUE SERIES 17.1501 13,198.66 7%2467.377 AMR GRW INC 13.4940 33,294.82 18%1075.982 AMR GROWTH 13.9249 14,982.90 8%2517.482 MFS INV TRUST 9.5298 23,990.97 13%2150.423 MFS NEW DISC 13.5630 29,166.18 16%Total HARTFORD LEADERS Valuation as of 12/28/06 $186,371.09 100%Total VARIABLE ANNUITY PRODUCT Account Valuation as of 12/31/07 $195,153.25 Total of All Variable Annuity Accounts $195,153.25 Offshore Annuities

ABC INSURANCE COMPANY ABC OFFSHORE ANNUITY PRODUCT Contract Number: A0097300FF Security Identifier: PRO0000001

200 SUBACCOUNT A 12 2400 25%

200 SUBACCOUNT B 12 2400 25%

200 SUBACCOUNT C 12 2400 25%

200 SUBACCOUNT D 12 2400 25%

Total OFFSHORE ANNUITY PRODUCT Account Valuation as of 12/31/07 $9,600.00 100%

Total of All Offshore Annuity Accounts $9,600.00


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SAMPLEAnnuities Quantity Description Market Price Market Value % Allocation

Fixed Annuities

ABC INSURANCE COMPANY ABC FIXED ANNUITY PRODUCT Contract Number: B0086611BB Security Identifier: PRO00000021 10000 10000

Total FIXED ANNUITY PRODUCT Account Valuation as of 12/31/07 $10,000.00

Total of All Fixed Annuity Accounts $10,000.00

Quantity Market Value

Total of All Annuity $214,753.25

Pending Annuities Security Transaction Date Activity Type Description Price Identification

ABC VARIABLE ANNUITY PRODUCT99/99/99 New Annuity Purchase ABC VARIABLE ANNUITY PRODUCT 20000 XWXWXW

Total VARIABLE ANNUITY PRODUCT $20,000.00

XYZ FIXED ANNUITY PRODUCT99/99/99 New Annuity Purchase XYZ FIXED ANNUITY PRODUCT 20000 XWXWXW

Total FIXED ANNUITY PRODUCT $20,000.00

Total of All Pending Annuities $40,000.00

This information has been supplied to us by the issuer of the annuity and is presented without inquiry or investigation and its accuracy is not guaranteed. The annuity information presented is not intended to replace the annuity statement you receive from the annuity issuer. Your surrender, liquidation, or withdrawal value may be less than the value reflected on this statement. The information contained in this statement may be different than the information contained in the statement sent to you by the issuer because valuations are calculated on different dates for statement purposes. Surrender charges or other annuity contract fees may apply which could reduce the value of your annuity. Annuity surrenders, liquidations, or withdrawals may result in tax penalties.

Pershing does not perform any tax reporting relating to annuities held by the insurance company, registered to the client. All tax reporting for annuities held in insurance company retirement accounts, registered to the client is the responsibility of the insurance company issuer. All tax reporting for annuities registered in custodial name and held in Pershing retirement accounts is the responsibility of Pershing LLC.

Fixed annuities are not securities and are not covered by the Securities Investor Protection Corporation (SIPC). Variable annuities are securities, but are not covered by SIPC since Pershing does not hold them for custody in your brokerage account. You should have received the annuity contract directly from the issuer or from your investment professional. Contact your investment professional or tax professional for further information.


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SAMPLESchedule of Realized Gains and Losses Disposition Acquisition Closing Security Cost Date Date Transaction Description Identifier Quantity Basis Proceeds Realized Gains/Loss

Short Term

4/5/07 4/29/2006 SELL EATON VANCE ECBLX 46.538 459.80 460.26 0.46 FLOATING RATE FUND

7/5/07 10/14/2006 SELL FRANKLIN FLOATING RATE FAFRX 13.205 133.27 133.77 0.50 DAILY ACCESS

Total Short Term $593.07 $594.03 $0.96

Long Term

2/8/07 12/1/2004 SELL CANYON BANCORP COM CYBA 280.194 6,898.19 7,702.29 804.10

2/8/07 12/6/2004 SELL CANYON BANCORP COM CYBA 219.806 5,461.73 6,042.28 580.55

2/8/07 12/8/2005 SELL PEOPLES BANK COM PBCO 250.000 4,818.59 5,744.82 936.23

5/20/07 4/28/2005 SELL OPPENHEIMER SENIOR XOSCX 3.272 31.08 31.44 0.36 FLOATING RATE FUND

Total Long Term $17,209.59 $19,520.83 $2,321.24

Total Short Term and Long Term $17,802.66 $20,114.86 $2.322.20

The information provided in the Schedule of Realized Gains and Losses section is meant as a general guide and should not be relied upon in the preparation of tax returns. Pershing is not authorized to give tax advice.Cost basis on fixed income securities is adjusted for amortization, accretion or principal paydowns. Original cost basis is provided under the security description.

Transactions in Date Sequence Process Trade Transaction Activity Accrued Settlement Date Date Type Description Quantity Price Interest Amount CCY

01/11/07 01/10/07 CASH DUE INTEREST FOR 4 DEBIT DAYS -117.78 USD AVBAL 139.851.04

01/22/07 01/17/07 PURCHASED BNP PARIBAS EMTN 220,000.000 103.5000 -114,059.57 USD ISIN#X5027368545 13.50% 04/20/08 REG DTD 04/20/06 BC @ 2.1498 YLD 90.437 TO MAT

02/08/07 02/05/07 SOLD DODGE & COX INTERNATIONAL FUND -416.320 48.0400 19,965.00 USD 003763690 UNSOLICITED ORDER

03/08/07 03/04/07 PURCHASED THE FAIRHOLME FUND 007028437 2127.660 31.4900 -67,035.00 USD *PROS UNDER SEP COVER HOLD PERS ALL $ UNSOLICITED ORDER

05/07/07 05/04/07 SOLD GABELLI SMALL CAP -590.145 33.8900 19,800.00 USD GROWTH FUND 008063258 UNSOLICITED ORDER

07/07/07 07/03/07 SOLD T ROWE PRICE CAPITAL APPRECIATION -1593.807 21.9600 34,965.00 USD 009127812 UNSOLICITED ORDER


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SAMPLETransactions in Date Sequence Process Trade Transaction Activity Accrued Settlement Date Date Type Description Quantity Price Interest Amount CCY

09/13/07 09/10/07 PURCHASED MANAGERS BOND FUND 000767525 1046.699 24.8400 -26,000.00 USD *PROS UNDER SEP COVER HOLD PERS REV $ UNSOLICITED ORDER

11/26/06 BOND INTEREST REC FNMA GTD REMIC PASS 590.00 USD THRU CTF REMIC TR-1990-60 CL-60-K 5.500% 06/25/20 REG DTD 06/01/90 RD 10/31/ PD 11/25

11/26/07 PRINCIPAL PAY DOWN FNMA GTD REMIC PASS 1,890.00 USD RECEIVED THRU CTF REMIC TR-1990-60 CL-60-K 5.500% 06/25/20 REG DTD 06/01/90

12/04/07 DEPOSIT FUNDS DEPOSITED 243,000.00 USDAS OF 12/04/07

12/04/07 DEPOSIT FUNDS DEPOSITED 930.49 USDAS OF 12/04/07

12/31/07 $415,988.33 USD

The price and quantity displayed may have been rounded.

Daily Transaction Summary Process Trade Transaction Activity Settlement Date Date Type Description Quantity Price Amount Balance

01/02/07 01/02/07 Combined Opening Balance $302,060.19

01/11/07 01/10/07 CASH DUE INTEREST FOR 4 DEBIT DAYS -117.78 301,942.41 AVBAL 139.851.04

01/22/07 01/17/07 PURCHASED BNP PARIBAS EMTN 220,000.000 103.5000 -114,059.57 187,882.84 ISIN#X5027368545 13.50% 04/20/08 REG DTD 04/20/06 BC @ 2.1498 YLD 90.437 TO MAT

02/08/07 02/05/07 SOLD DODGE & COX INTERNATIONAL FUND -416.320 48.0400 19,965.00 207,847.84 003763690 UNSOLICITED ORDER

03/08/07 03/04/07 PURCHASED THE FAIRHOLME FUND 007028437 2127.660 31.4900 -67,035.00 140,812.84 *PROS UNDER SEP COVER HOLD PERS ALL $ UNSOLICITED ORDER

05/07/07 05/04/07 SOLD GABELLI SMALL CAP -590.145 33.8900 19,800.00 160,612.84 GROWTH FUND 008063258 UNSOLICITED ORDER


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SAMPLEDaily Transaction Summary (continued) Process Trade Transaction Activity Settlement Date Date Type Description Quantity Price Amount Balance

07/07/07 07/03/07 SOLD T ROWE PRICE CAPITAL APPRECIATION -1593.807 21.9600 34,965.00 195,577.84 009127812 UNSOLICITED ORDER

09/13/07 09/10/07 PURCHASED MANAGERS BOND FUND 000767525 1046.699 24.8400 -26,000.00 169,577.84 *PROS UNDER SEP COVER HOLD PERS REV $ UNSOLICITED ORDER

11/26/06 BOND INTEREST REC FNMA GTD REMIC PASS 590.00 170,167.84 THRU CTF REMIC TR-1990-60 CL-60-K 5.500% 06/25/20 REG DTD 06/01/90 RD 10/31/ PD 11/25

11/26/07 PRINCIPAL PAY DOWN FNMA GTD REMIC PASS 1,890.00 172,057.84 RECEIVED THRU CTF REMIC TR-1990-60 CL-60-K 5.500% 06/25/20 REG DTD 06/01/90

12/04/07 DEPOSIT FUNDS DEPOSITED 243,000.00 415,057.84 AS OF 12/04/07

12/04/07 DEPOSIT FUNDS DEPOSITED 930.49 415,988.33 AS OF 12/04/07

12/31/07 Combined Closing Balance $113,928.14 $415,988.33


Transactions by CUSIP Process Trade Transaction Activity Accrued Settlement Date Date Type Description Quantity Price Interest Amount CCY

01/11/07 01/10/07 CASH DUE INTEREST FOR 4 DEBIT DAYS -117.78 USD AVBAL 139.851.04

01/22/07 01/17/07 PURCHASED BNP PARIBAS EMTN 220,000.000 103.5000 -114,059.57 USD ISIN#X5027368545 13.50% 04/20/08 REG DTD 04/20/06 BC @ 2.1498 YLD 90.437 TO MAT

02/08/07 02/05/07 SOLD DODGE & COX INTERNATIONAL FUND -416.320 48.0400 19,965.00 USD 003763690 UNSOLICITED ORDER

03/08/07 03/04/07 PURCHASED THE FAIRHOLME FUND 007028437 2127.660 31.4900 -67,035.00 USD *PROS UNDER SEP COVER HOLD PERS ALL $ UNSOLICITED ORDER

05/07/07 05/04/07 SOLD GABELLI SMALL CAP -590.145 33.8900 19,800.00 USD GROWTH FUND 008063258 UNSOLICITED ORDER

07/07/07 07/03/07 SOLD T ROWE PRICE CAPITAL APPRECIATION -1593.807 21.9600 34,965.00 USD 009127812 UNSOLICITED ORDER


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SAMPLETransactions by CUSIP (continued) Process Trade Transaction Activity Accrued Settlement Date Date Type Description Quantity Price Interest Amount CCY

09/13/07 09/10/07 PURCHASED MANAGERS BOND FUND 000767525 1046.699 24.8400 -26,000.00 USD *PROS UNDER SEP COVER HOLD PERS REV $ UNSOLICITED ORDER

11/26/06 BOND INTEREST REC FNMA GTD REMIC PASS 590.00 USD THRU CTF REMIC TR-1990-60 CL-60-K 5.500% 06/25/20 REG DTD 06/01/90 RD 10/31/ PD 11/25

11/26/07 PRINCIPAL PAY DOWN FNMA GTD REMIC PASS 1,890.00 USD RECEIVED THRU CTF REMIC TR-1990-60 CL-60-K 5.500% 06/25/20 REG DTD 06/01/90

12/04/07 DEPOSIT FUNDS DEPOSITED 243,000.00 USD AS OF 12/04/07

12/04/07 DEPOSIT FUNDS DEPOSITED 930.49 USD AS OF 12/04/07

12/31/07 $415,988.33 USD


Transactions by Type of Activity Process Trade Transaction Activity Accrued Settlement Date Date Type Description Quantity Price Interest Amount CCY

Cash Withdrawals and Deposits

04/25/07 CUSTOMER AUTHORIZED TRANS SRM XXX-801627 12,136.68 USD TRANSFER

08/08/07 FEDERAL FUNDS PAID -4500.00 USD

10/09/07 FEDERAL FUNDS RECEAVED IRVTHKHX 96670 3,200.00 USD

Total Cash Withdrawals and Deposits $10,836.68 USD

Securities Bought and Sold

03/01/07 02/26/07 SOLD BRIGHTPOINT INC COM NEW -5000.000 12.8735 63,861.02 USD SOL WE MAKE MKT IN SEC AVERAGE UNIT PRICE TRANSACTION

05/06/07 05/02/07 SOLD CELLCOM ISRAEL LTD SHS -2000.000 18.1000 35,994.38 USD SOL AVERAGE UNIT PRICE TRANSACTION


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SAMPLETransactions by Type of Activity (continued) Process Trade Transaction Activity Accrued Settlement Date Date Type Description Quantity Price Interest Amount CCY

07/25/07 07/20/07 SOLD SWITCH & DATA FACS CO INC COM -2000.000 18.8415 37,977.34 USD SOL WE MAKE MKT IN SEC AVERAGE UNIT PRICE TRANSACTION

10/09/07 10/05/07 PURCHASED CVS CORP COM SOL 2,500.00 31.8904 -80230.50 USD AVERAGE UNIT PRICE TRANSACTION

12/16/07 12/13/07 PURCHASED MORGANS HOTEL GROUP CO COM 3,000.00 20.4133 -61694.40 USD SOL WE MAKE MKT IN SEC AVERAGE UNIT PRICE TRANSACTION

Total Securities Bought And Sold -$4,092.16

Dividends and Interest

03/12/07 CASH DIVIDEND 1000SHRS NORFOLK SOUTHERN 220.00 USD RECEIAVED CORP RD 02/02 PD 03/10 PD 03/02/07

07/05/07 NON-TAXABLE DISTRIBUTION 6000 VAN CAMPEN AMERICAN 510.60 USD RECEAVED CAPITAL TRUST FOR INVESTMENT GRADE MUNICIPALS COMMON STOCK RD 12/15 PD 12/29/07

11/20/07 INT CHARGE ON MARGIN INTEREST FOR 19 DEBIT DAYS -376.96 USD DEBIT BALANCES AV BAL 69852.87 RATE 10.225 02/20/07 TO 03/19/07 DEBIT BAL 03/19/07 WAS 61475.64

Total Dividends and Interest $353.6 USD

Fees

02/12/07 ADVISORY FEE PAID JULY 06 INV ADV FEE -16,033.99 USD

05/06/07 ADVISORY FEE PAID DEC 06 INV ADV FEE -14,585.27 USD

Total Fees -$30,619.26 USD

Other Transactions

07/05/07 ACTIVITY WITHIN VAN CAMPEN AMERICAN CAPITAL TRUST 6000.000 0.00 USD YOUR ACCT FOR INVESTMENT GRADE MUNICIPALS COMMON STOCK TRANSFER TO MARGIN

11/19/07 ACTIVITY WITHIN CALL 100 FEDEX CORP 20.000 0.00 USD YOUR ACCT EXP 01-20-08 @120

11/19/07 ACTIVITY WITHIN CALL 100 FEDEX CORP -20.000 0.00 USD YOUR ACCT EXP 01-20-08 @120

Total Other Transactions $0.00 USD



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SAMPLEExchange Rate Table Global Account Cash Currency USD Equivalent Currency per USD Currency Closing Balance Amount in Base Currency in USD

Euro Dollars 1.7565 1.40 Euro Dollar 109,487.501,8 91.19

Australian Dollars 0.0975 1.0671 Australian Dollar 109,487.50 94,550.69

Exchange rates are based on Interbank exchange rates as of 12/31/xxxx. Exchange rates can vary. Total Global Cash Balance $186,441.88

Transaction by Type of Activity with CCYProcess/ Trade/ Settlement Transaction Date Date Activity Type Description Quantity Price Accrued Interest Amount CCY

3/13/07 DEPOSIT CHECK RECEIVED 1,143.81 USD3/13/07 PURCHASE INTERNATIONAL BUSINESS MACHINES 100 122.375 -12,237.50 USD5/13/08 5/10/08 SOLD FEDERAL AUST BANK NOTES 200,000.00 105.75 -2,115.00 209,385.00 AUS AUST FEDERAL RESERVE CORP -1,982.00e 196,218.72e USD 5.250% 09/15/12 DTD 07/15/07 (Forex rate 1.0671)2/20/08 2/17/08 PURCHASE INTERNATIONAL LEASE 100,000.00 102.95 5,375.00 108,275.00 EUR FIN CORP MEDIUM TERM NTS 3,997.50e 77,339.28e USD 3.150% 09/15/08 B/E DTD 07/03/03 (Forex rate 1.40)

Transaction Summary Accrued Interest USD Equivalent Total Amount Currency USD EquivalentTotal Value of ALL US DOLLAR 1,143.81 USD 1,143.81Total Value of ALL transactions AUSTRALIAN -2,115.00 -1,982.00e 209,385.00 AUS 196,218.72eTotal Value of ALL transactions EURO 5,375.00 3,997.50e 108,275.00 EUR 77,339.28e

Money Market Fund Detail Date Activity Type Description Amount Balance

Sweep Money Market Fund

OFFSHORE US TREAS CLG

Account Number: 999999999 Current Yield 4.47 Activity Ending: 12/31/07

12/01/07 Opening Balance 34,260.10 34,260.10

12/01/07 Withdrawal Money Market Fund Redemption -68.15 34,191.95

12/05/07 Withdrawal Money Market Fund Redemption -55.93 34,136.02

12/06/07 Deposit Money Fund Purchase 1,131.00 35,267.02

12/07/07 Deposit Money Fund Purchase 667.00 35,934.02


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SAMPLEMoney Market Fund Detail Date Activity Type Description Amount Balance

Sweep Money Market Fund (continued)

OFFSHORE US TREAS CLG

Account Number: 999999999 Current Yield 4.47 Activity Ending: 12/31/07

12/12/07 Deposit Money Fund Purchase 10.59 35,944.61

12/31/07 Closing Balance $35,944.61

FDIC Insured Bank Deposits Date Activity Type Description Amount Balance

Sweep Money Market Fund

INSURED DEPOSIT PROGRAM

Account Number:999002909 Acivity Ending: 12/31/07

03/31/07 Opening Balance 0.00

04/09/07 Deposit DEPOSIT 52.92 52.92

04/12/07 Deposit INTEREST CREDITED 141.52 194.84

04/13/07 Deposit DEPOSIT 0.14 194.98

04/13/07 Deposit APYE 4.77 51.06 246.04

04/26/07 Closing Balance $246.04

The FDIC Insured Bank Deposits are not securities and are not covered by the Securities Investor Protection Corporation (SIPC). The Bank Deposits are insured by the Federal Deposit Insurance Corporation (FDIC). Please see your Message section for details regarding the interest rate.

Checking Activity Process Written Check Date Date Number Payee Check Category Amount

01/07/07 01/16/07 422 CITY OF LOS ANGELES CODE 0 -609.0004/13/07 04/13/07 398 CITIBANK CODE 0 -1,255.9905/13/07 04/13/07 399 CITIBANK CODE 0 -13.9906/25/07 04/13/07 404 UNITED STATES TREASURYK CODE 0 -15,500.0006/25/07 04/13/07 405 FRANCHISE TAX BOARD CODE 0 -750.0008/15/07 04/13/07 407 CITIBANK CODE 0 -17.7509/22/07 09/13/07 455 THE KATY TIMES NO ASSIGNED CATEGORY -350.0010/24/07 10/16/07 528 GUIDE BOOK PUBLISHING NO ASSIGNED CATEGORY -785.0011/07/07 11/01/07 655 DISCOVER CODE 0 -3,751.9412/17/07 12/08/07 877 CHASE HOME FIN NO ASSIGNED CATEGORY -20,000.00Total Checking Activity -$43,033.67


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SAMPLEDebit Card Activity Process Transaction Reference Date Date Vendor Location Number Amount

01/03/06 01/02/06 WAL MART VILLAGE OF NENY 55483826002310700000000.00 52.8301/09/06 01/05/06 SLEEP INN AND SUITES WINCHESTER VA 55417346006640000000000.00 67.4001/11/06 01/10/06 WM SUPERCENTER SE2 VERO BEACH FL 55483826010360000000000.00 100.1701/17/06 01/16/06 VER*VRZNWRLS ECARS RE3 8884664646 CA 55432866016000300000000.00 16.2002/02/06 01/30/06 YANKEE FLEET GLOUCESTER MA 85436466032419700000000.00 629.5002/17/06 02/16/06 VER*VRZNWRLS ECARS RE3 8884664646 CA 55432866047000000000000.00 16.2003/02/06 03/01/06 SANDRIDGE GOLF CLUB VERO BEACH FL 55425636060281300000000.00 48.1503/17/06 03/16/06 VER*VRZNWRLS ECARS RE3 8884664646 CA 55432866075000400000000.00 16.2004/06/06 04/05/06 SANDRIDGE GOLF CLUB VERO BEACH FL 55425636095281300000000.00 48.1505/22/06 05/21/06 VER*VERIZONWRLS ECARS 8884664646 CA 55432866141000200000000.00 16.2005/24/06 05/23/06 HOSELTON TOYOTA EAST ROCHESTER NY 5444006144467610000000.00 500.0006/12/06 06/08/06 REED EYE ASSOCIATES SODUS NY 55420366160670300000000.00 99.0006/30/06 06/28/06 CAUSEWAY RESTAURANT GLOUCESTER MA 25247806180002700000000.00 125.1007/26/06 07/25/06 BEACHSIDE AT NANTUCKET NANTUCKET MA 55488726207206900000000.00 575.9409/26/06 09/25/06 NANTUCKET ISLAND TOURS HYANNIS MA 55488726268207300000000.00 34.0009/29/06 09/28/06 DICK’S CLOTHING&SPORTI WEBSTER NY 55548076272761000000000.00 215.9910/10/06 10/06/06 GOLDEN PHOENIX CHINESE FAIRPORT NY 85486756281004900000000.00 39.1011/13/06 11/10/06 THE OLIVE GARD00014548 SCOTTSDALE AZ 15410196315140000000000.00 111.2111/27/06 11/24/06 DICK’S SPORTINGGOODS VICTOR NY 55548076329761000000000.00 374.9212/29/06 12/28/06 STAPLES 00106997 WEBSTER NY 15410196363105100000000.00 107.99Total Debit Card Activity $3,077.07

Retirement Account Transactions Tax Year – 2007 Tax Year – 2006 Year-to-Date Year-to-Date

Contribution

Participant $2,000.00 $2,000.00

Employer $0.00 $0.00

Employer - Prior Year $0.00 $0.00

Rollover $150,000.00 $35,000.00

Roth Conversion $15,750.00 $825.00

Recharacterization $0.00 $0.00

Total Contribtions $167,750.00 $37,825.00


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SAMPLERetirement Account Transactions (continued) Tax Year – 2007 Tax Year – 2006 Year-to-Date Year-to-Date

Distributions

Early $0.00 $0.00

Normal $25,000.00 $25,000.00

Disability $0.00 $0.00

Total Distributions $25,000.00 $25,000.00

Federal Tax Withheld on Distributions

Early $0.00 $0.00

Normal $1,750.00 $1,750.00

Disability $0.00 $0.00

Total Federal Tax Withheld $1,750.00 $1,750.00

State Tax Withheld on Distributions

State Tax Withheld $825.00 $825.00

Total State Tax Withheld $825.00 $825.00

Nonreportable Activity

Divorce Decree 0.00 0.00

Asset Transferred 0.00 0.00

Loan 0.00 15,000.00

Total Nonreportable Activity $0.00 $15,000.00

NOTE: The amounts shown in the Year-to date columns are aggregate amounts of all transactions conducted for a particular transaction type.

Required Minimum Distribution Summary Calculated Amount

Prior Year-end Fair Market Value (“FMV”) $354,757.89

Calcualtion Factor: 85.00Participant DOB:09/1934 Beneficiary DOB:01/1936 Beneficiary Relationship: SPOUSE Amount Required to be Withdrawn for 2007: $15,000.00 Amount Withdrawn Year to Date: $12,700.00

The Remaining Amount You Are Required to Withdraw for 2005: $2,300.00


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SAMPLEDisclaimers and Other Important Information Regarding Your Required Minimum Distribution Summary

According to our records, you may already have satisfied your annual required minimum distribution from your retirement account. These required minimum distributions (RMDs) usually begin in the year you reach the age of 70 1/2. Failure to take the RMD when required may result in a 50% excise tax imposed on the amount you did not take.

You are allowed to take your RMD in cash or securites. For a distribution to be made, sufficient cash or securites must be availble in your retirement account when we receive your distribution request and for subsequent distributions. If you changed your beneficiary after January 1 of this year and your new beneficiary is your spouse who is more than ten years younger then you, you may need to recalculate the RMD amount stated above.

If you have more than one traditional individual retirement account (IRA), including SEP and SIMPLE IRAs, the RMD for these accounts can be aggregated and removed from a single traditional IRA. This exception does not apply to mulitple qualified reitirement plans (QRPs) such as profit sharing money purchase pension, 401(k), and defined benefit plans. RMDs for QRPs must be removed from each QRP account.

NOTE: Any outstanding rollovers or recharacterizations that are not in your account on December 31 of the prior year should be added to your year-end fair market value for the previous year to calculate your RMD for the current year. Also, when taking your RMD, please consider any scheduled distribution amounts you have established which may allow you to automatically meet all or part of your RMD. Please contact us if you are interested in establishing instructions.

Using the information on our files, your RMD was determined by dividing your fair amrket value by a calculated factor determined by the Internal Revenue Service (IRS). The factor is based on your age at the end of the year and the age and realtionship of your beneficiary(ies). We strongly suggest that you verify this calculation with your tax professional, as there may be other pertinent information that could impact your RMD amount. To withdraw your RMD, contact you investment professional for appropriate withdrawal form.

Income and Expense Summary Year-to-Date Year-to-Date Taxable Non-Taxable

Dividend Income:

Equities 42,469.70 1,698.75

Money Market 0.00 583.69

Other Dividends 162.22 1276.88

Interest Income:

Bond Interest 8,237.50 8,842.50

Credit Interest 0.14 -12.30

Money Market Income 375.00 400.77

FDIC Insured Bank Deposits 0.00 84.45

Other Interest

Expenses:

Margin Interest -757.57 0.00

Withholding Taxes -465.06 0.00

Fee (Foreign Securities)

Total Dividends, Interest and Expenses $50,021.93 $12,874.74


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SAMPLEIncome and Expense Summary Year-to-Date Year-to-Date Taxable Non-Taxable

Distributions

Long Term Capital Gain Distribution 1,137.58 0.00

Short Term Capital Gain Distribution 2,263.50 0.00

Limited Partnership & Alternative Investments 50.00 640.00

Other Distributions 2,189.00 44.47

Total Distributions $5,640.08 $684.47

Distributions:

Long Term Capital Gain Distribution $137.58 $0.00

Short Term Capital Gain Distribution $263.50 $0.00

Limited Partnership & Alternative Investments $0.00 $640.00

Other Distributions $250.00 $250.00

Total Distributions $651.08 $890.00

Accrued Interest Summary Year-to-Date Year-to-Date Taxable Non-Taxable

Accrued Interest Paid

Corporate Bond 25,750.00 0.00

Municipal Bond 1,500.00 40,050.05

U.S. Treasury Bond 0. 7,000.00

Total Accrued interest Paid $27,250.00 $47,050.05

Accrued Interest Received

Corporate Bonds 19,001.61 0.00

Total Accrued Interest Received $19,001.61 $0.00


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SAMPLEBond Maturity Schedule Percentage of Bond Bond Maturity Market Value Market Value

Within 1 month 275,000.00 11.87%

1 to 6 months 503,750.00 21.74%

1 to 5 years 1,037,584.00 44.77%

Over 10 years 500,980.00 21.62%

Total $2,317,314.00 100.00%

Percentages of bond market values are rounded to the nearest whole percentage.

Bond Maturity Disclosure

Bonds that are in default are not included. Please refer to your Portfolio Holdings section.

Called Bonds Eligible Called Call Type Redemption Call Date Security Description Quantity Quantity Price of Call Proceeds

03/31/2009 SACRAMENTO CALIF MUN UTIL DIST ELEC REV 200,000.00 5,000.00 $ 100.00 Ful $ 5,000.00 REV SER A 5.000% B/E DTD 11/01/07 MBIA INSURED

Moody Rating AAA S&P Rating AAA Security Identifier: 13066YCW7

05/12/2009 REPUBLIC OF VENESUELLA GLOBAL NTS 500,000.00 10,000.00 $ 105.00 Partial $ 10,500.00 ISIN #USP31640AA69 REG S EURO BOND 9.125% 06/18/07 B/E DTD 06/17/97 CPN PMT SEMI ANNUAL ON JUN 18 AND DEC 18 Security Identifier: P3640AA6

Total Called Bonds $10,500.00


For investment options that are available to you please contact Your Investment Consultant. The called bond information is received from several information sources which Pershing LLC believes are reliable. However, Pershing LLC does not warrant the accuracy or completeness of the information.

Bond Quality Percentage of Bond Bond Maturity Market Value Market Value

AAA 577,532.00 24.92%

AA 385,560.00 16.64%

Unrated 1,354,222.50 58.44%

Total $2,317,314.50

Percentages of bond market values are rounded to the nearest whole percentage.


Bond quality ratings reflect Moody’s rating service only. Bonds may be rated by other services. Bonds that are in default are not included. Please refer to your Portfolio Holdings section.


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SAMPLECalled Bonds (continued) Record Payable Quantity Amount of Divident Security Date Date Held Rate Payment Option

Dividends

AMERICAN ECO CORP COM NEW 12/21/07 1/2/08 10000.000 1.500000 1500.00 Cash

NATURAL RESOURCE PTN L P 12/24/07 1/4/08 2000.000 2.197000 910.00 Cash

COMCAST CORP SR NT 7.00% 12/29/07 2/9/08 2000.000 2.287500 875.00 Cash

STRATEGIES FD INC

Total Cash Not Yet Received $3,285.00

The above information has been obtained from sources we believe to be reliable. All items are subject to receipt. We make no representation as to accuracy or completeness. Cash Not Yet Receeived is not reflected as an asset in your account until it is actually received.

Distribution Quantity Quantity Current Market Security Ex-Dividend Date Held Rate of Payment Price Value

Security Dividends and Stock Splits

AMERICAN ECOLOGY CORP COM NEW 11/23/07 1/15/08 10,000.00 0.025 2500.00 22.3500 $5,587.50

ROYAL BANK OF SCOTLAND GROUP PLC 500.00 0.500 250.00 40.2100 $10,051.71

Total Value of Securities Not Yet Received $15,639.21

The above information has been obtained from sources we believe to be reliable. All items are subject to receipt. We make no representaion as to accuracy or completeness.


Documents

SAMPLE - Pershing LLCfiles.pershing.com/media/sample_yea_report.pdf · Pie chart allocation excludes all asset classes which net to a liability. All amounts and transactions displayed