09

2002

JPMorgan Chase Bank

New York, NY 10154-1002

JPMorgan Private Bank

Account Number:
JEFFREY EPSTEIN

Confidential

Page 1 of 9

Asset Account Portfolio
September 1 - September 30, 2002

## Table of Contents

<table><tr><th></th><th>Page</th></tr><tr><td>Portfolio Summary</td><td>2</td></tr><tr><td>Cash and Short Term</td><td>3</td></tr><tr><td>Trade Activity</td><td>5</td></tr><tr><td>Account Transactions</td><td>6</td></tr></table>

## Account Officers

Service Specialist: RILEY/HORNBECKER

000000.0000.00.0000.000.000000000000000
JEFFREY E EPSTEIN
C/O FINANCIAL TRUST COMPANY
ATTN: JEANNE BRENNAN

ST THOMAS VI 00802

GOVERNMENT

EXHIBIT

504

S2 20 Cr. 330 (AJN)

JPM-SDNY-00005505

Confidential Treatment Requested by JPMorgan
Chase

EFTA00014942

09 | 2002

Account Number:
JEFFREY EPSTEIN

JPMorgan Chase Bank

, New York, NY 10154-1002

JPMorgan Private Bank

Asset Account Portfolio September 01, 2002 - September 30, 2002

Page 2 of 9

## 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

## Overview

<table><tr><th></th><th>Market Value USD
Sep 30</th><th>Market Value USD
Aug 31</th><th>Tax
Cost USD</th><th>Estimated Annual
Income USD</th><th>Yield
%</th></tr><tr><td>Cash &amp; Short Term</td><td>6,838,687.24</td><td>14,816,643.79</td><td>6,838,687.24</td><td>109,416.12</td><td>1.6</td></tr><tr><td>Total</td><td>6,838,687.24</td><td>14,816,643.79</td><td>6,838,687.24</td><td>109,416.12</td><td>1.6</td></tr><tr><td>Accrued Income</td><td>11,992.75</td><td>22,043.45</td><td></td><td></td><td></td></tr><tr><td>Total Portfolio Value</td><td>6,850,679.99</td><td>14,838,687.24</td><td></td><td></td><td></td></tr></table>

## Asset Allocation

100% Cash and Short Term

## Income Summary

<table><tr><th></th><th>This Period USD</th><th>Year to Date USD</th></tr><tr><td>Taxable Interest</td><td>949.99</td><td>949.99</td></tr><tr><td>U.S. Tax Exempt Dividends</td><td>21,093.46</td><td>21,475.74</td></tr><tr><td>Total</td><td>22,043.45</td><td>22,425.73</td></tr></table>

Confidential Treatment Requested by JPMorgan
Chase

JPM-SDNY-00005506

EFTA00014943

09 | 2002

Account Number:
JEFFREY EPSTEIN

JPMorgan Chase Bank

, New York, NY 10154-1002

Asset Account Portfolio September 01, 2002 - September 30, 2002

JPMorgan Private Bank

Page 3 of 9

# Cash and Short Term

## Summary by Maturity

<table><tr><th></th><th>Current Market Value</th><th>Estimated Annual Income</th></tr><tr><td></td><td>USD</td><td>USD</td></tr><tr><td>Cash</td><td>957.08</td><td>12.44</td></tr><tr><td>Less Than 3 Months</td><td>6,837,730.16</td><td>109,403.68</td></tr><tr><td>Total</td><td>6,838,687.24</td><td>109,416.12</td></tr></table>

Current yield is displayed for instruments with no maturity and YTM on market is displayed for instruments that mature.

# Cash and Short Term (cont.)

## Cash and Short Term by Type

<table><tr><th>Description
Cusip/S&amp;P/Moody's Rating</th><th>Currency</th><th>Quantity</th><th>Unit Cost
Adjusted
Original</th><th>Market
Price</th><th>Tax Cost
Adjusted
Original</th><th>Current
Market Value USD
Accrued Interest USD</th><th>Unrealized
Gain/Loss USD</th><th>Estimated
Annual
Income USD</th><th>Current
Yield/
YTM %</th></tr><tr><td>Cash</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>JP MORGAN TAX FREE MONEY MARKET
PREMIER CLASS SWEEP FUND (92)
(SWEEP DEADLINE IS 11:30 AM EST)
7-Day Annualized Yield: 1.27%</td><td>USD</td><td>957.08</td><td>1.00</td><td>1.00</td><td>957.08</td><td>957.08
0.83</td><td></td><td>12.44</td><td>1.30</td></tr><tr><td>Short Term by Maturity</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>JP MORGAN TAX FREE MONEY MARKET
FUND INSTITUTIONAL SHARE CLASS
(FUND 840)
7-Day Annualized Yield: 1.52%</td><td>USD</td><td>6,837,730.16</td><td>1.00</td><td>1.00</td><td>6,837,730.16</td><td>6,837,730.16
11,991.92</td><td></td><td>109,403.68</td><td>1.60</td></tr></table>

Confidential Treatment Requested by JPMorgan
Chase

JPM-SDNY-00005507

EFTA00014944

# Cash and Short Term (cont.)

## Cash and Short Term by Type (cont.)

09 | 2002

Account Number:
JEFFREY EPSTEIN

JPMorgan Chase Bank

, New York, NY 10154-1002

Asset Account Portfolio September 01, 2002 - September 30, 2002

JPMorgan Private Bank

Page 4 of 9

Cash and Short Term by Type continued

<table><tr><th>Description
Cusip/S&amp;P/Moody's Rating</th><th>Currency</th><th>Quantity</th><th>Unit Cost
Adjusted
Original</th><th>Market
Price</th><th>Tax Cost
Adjusted
Original</th><th>Current
Market Value USD
Accrued Interest USD</th><th>Unrealized
Gain/Loss USD</th><th>Estimated
Annual
Income USD</th><th>Current
Yield/
YTM %</th></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total Cash and Short Term</td><td></td><td></td><td></td><td></td><td>6,838,687.24</td><td>6,838,687.24
11,992.75</td><td>0.00</td><td>109,416.12</td><td>1.60</td></tr></table>

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.

Confidential Treatment Requested by JPMorgan
Chase

JPM-SDNY-00005508

EFTA00014945

# Cash and Short Term (cont.)

## Cash and Short Term by Type (cont.)

09 | 2002

Account Number:
JEFFREY EPSTEIN

JPMorgan Chase Bank

New York, NY 10154-1002

Asset Account Portfolio September 01, 2002 - September 30, 2002

JPMorgan Private Bank

Page 5 of 9

# Trade Activity

## Realized Gain/Loss Summary

Short Term Gain/Loss
Long Term Gain/Loss

Amount USD
0.00

0.00

Note: S indicates Short Term Realized Gain/Loss L indicates Long Term Realized Gain/Loss

Capital gains and losses on sales with missing or incomplete tax cost are identified with N/A.

Trade Activity by Type

# Trade Activity (cont.)

## Realized Gain/Loss Summary (cont.)

<table><tr><th>Trade Settlement
Date Date</th><th>Туре</th><th>Description</th><th>Currency</th><th>Quantity</th><th>Price/Unit</th><th>Market Cost/Proceeds</th><th>Tax Cost</th><th>Realized
Gain/Loss USD</th></tr><tr><td>Settled</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Aug 30 Sep 3</td><td>Purchase</td><td>JP MORGAN TAX FREE MONEY MARKET
FUND INSTITUTIONAL SHARE CLASS
(FUND 840)</td><td>USD</td><td>21,086.37</td><td>1.00</td><td>-21,086.37</td><td></td><td></td></tr><tr><td>Sep 10 Sep 10</td><td>Sale</td><td>JP MORGAN TAX FREE MONEY MARKET
FUND INSTITUTIONAL SHARE CLASS
(FUND 840)</td><td>USD</td><td>-2,000,000</td><td>1.00</td><td>2,000,000.00</td><td>- 2,000,000.00</td><td></td></tr><tr><td>Sep 16 Sep 16</td><td>Sale</td><td>JP MORGAN TAX FREE MONEY MARKET
FUND INSTITUTIONAL SHARE CLASS
(FUND 840)</td><td>USD</td><td>- 1,000,000</td><td>1.00</td><td>1,000,000.00</td><td>- 1,000,000.00</td><td></td></tr><tr><td>Sep 18 Sep 18</td><td>Sale</td><td>JP MORGAN TAX FREE MONEY MARKET
FUND INSTITUTIONAL SHARE CLASS
(FUND 840)</td><td>USD</td><td>- 5,000,000</td><td>1.00</td><td>5,000,000.00</td><td>- 5,000,000.00</td><td></td></tr></table>

Confidential Treatment Requested by JPMorgan
Chase

# Trade Activity (cont.)

## Realized Gain/Loss Summary (cont.)

JPM-SDNY-00005509

EFTA00014946

09 | 2002

Account Number:
JEFFREY EPSTEIN

JPMorgan Chase Bank
, New York, NY 10154-1002

Asset Account Portfolio September 01, 2002 - September 30, 2002

JPMorgan Private Bank

Page 6 of 9

# Account Transactions

## Cash Activity Summary

<table><tr><th></th><th>Amount this
Period USD</th><th>Amount Year
to Date USD</th></tr><tr><td>Beginning Balance</td><td>.00</td><td></td></tr><tr><td>Credits</td><td></td><td></td></tr><tr><td>Dividends</td><td>21,093.46</td><td>21,475.74</td></tr><tr><td>Taxable Interest</td><td>949.99</td><td>949.99</td></tr><tr><td>Sweep Account Sales</td><td></td><td>48,998.65</td></tr><tr><td>Sales, Maturities, Redemptions</td><td>8,000,000.00</td><td>18,000,000.00</td></tr><tr><td>Miscellaneous Receipts</td><td></td><td>24,767,645.14</td></tr><tr><td colspan="3">Debits</td></tr><tr><td>Sweep Account Purchases</td><td>- 957.08</td><td>- 1,339.36</td></tr><tr><td>Purchases of Securities</td><td>-21,086.37</td><td>- 24,837,730.16</td></tr><tr><td>Miscellaneous Disbursements</td><td>- 8,000,000.00</td><td>- 18,000,000.00</td></tr><tr><td>Ending Balance</td><td>.00</td><td></td></tr></table>

*Year to date information is calculated on a calendar year basis.

# Account Transactions (cont.)

## Cash Activity Summary (cont.)

Activity by Date

<table><tr><th>Settlement
Date</th><th>Type</th><th>Quantity</th><th>Description</th><th>Amount USD</th></tr><tr><td>Sep 3</td><td>Dividend</td><td></td><td>JP MORGAN TAX FREE MONEY MARKET
PREMIER CLASS SWEEP FUND (92)
(SWEEP DEADLINE IS 11:30 AM EST)</td><td>7.09</td></tr><tr><td>Sep 3</td><td>Interest</td><td></td><td>INTEREST FOR AUG. @ 1.4% ON NET
AVERAGE COLLECTED BALANCE
$798,956.29
AS OF 09/01/02</td><td>949.99</td></tr></table>

Confidential Treatment Requested by JPMorgan
Chase

JPM-SDNY-00005510

EFTA00014947

09 | 2002

Account Number:
JEFFREY EPSTEIN

JPMorgan Chase Bank

JPMorgan Private Bank

, New York, NY 10154-1002

# Asset Account Portfolio September 01, 2002 - September 30, 2002

Page 7 of 9

# Asset Account Portfolio September 01, 2002 - September 30, 2002 (cont.)

<table><tr><th colspan="2">Activity by Date</th><th colspan="2">continued</th><th></th></tr><tr><td>Settlement
Date</td><td>Туре</td><td>Quantity</td><td>Description</td><td>Amount USD</td></tr><tr><td>Sep 3</td><td>Dividend</td><td></td><td>JP MORGAN TAX FREE MONEY MARKET
FUND INSTITUTIONAL SHARE CLASS
(FUND 840)</td><td>21,086.37</td></tr><tr><td>Sep 3</td><td>Purchase</td><td>21,086.37</td><td>JP MORGAN TAX FREE MONEY MARKET
FUND INSTITUTIONAL SHARE CLASS
(FUND 840)
INCOME DIVIDEND
REINVESTED @ $1.00
J.P.MORGAN SECURITIES INC AS AGENT
TRADE DATE 08/30/02</td><td>-21,086.37</td></tr><tr><td>Sep 3</td><td>Purchase</td><td>957.08</td><td>JP MORGAN TAX FREE MONEY MARKET
PREMIER CLASS SWEEP FUND (92)
(SWEEP DEADLINE IS 11:30 AM EST)</td><td>-957.08</td></tr><tr><td>Sep 10</td><td>Sale</td><td>-2,000,000</td><td>JP MORGAN TAX FREE MONEY MARKET
FUND INSTITUTIONAL SHARE CLASS
(FUND 840)
J.P.MORGAN SECURITIES INC AS AGENT
@ 1.00
TRADE DATE 09/10/02</td><td>2,000,000.00</td></tr><tr><td>Sep 10</td><td>Misc. Disbursement</td><td></td><td>TRANSFERRED BY WIRE TO
PALM BEACH NATL BK &amp; TR CO
FAO JEFFREY EPSTEIN
LETTER FROM CLIENT</td><td>- 2,000,000.00</td></tr><tr><td>Sep 16</td><td>Sale</td><td>-1,000,000</td><td>JP MORGAN TAX FREE MONEY MARKET
FUND INSTITUTIONAL SHARE CLASS
(FUND 840)
J.P.MORGAN SECURITIES INC AS AGENT
@1.00
TRADE DATE 09/16/02</td><td>1,000,000.00</td></tr></table>

# Asset Account Portfolio September 01, 2002 - September 30, 2002 (cont.)

Confidential Treatment Requested by JPMorgan
Chase

JPM-SDNY-00005511

EFTA00014948

09 | 2002

JPMorgan Chase Bank

JPMorgan Private Bank

, New York, NY 10154-1002

Account Number:
JEFFREY EPSTEIN

Asset Account Portfolio September 01, 2002 - September 30, 2002

Page 8 of 9

<table><tr><th colspan="2">Activity by Date</th><th colspan="2">continued</th><th rowspan="2">Amount USD</th></tr><tr><td>Settlement
Date</td><td>Туре</td><td>Quantity</td><td>Description</td></tr><tr><td>Sep 16</td><td>Misc. Disbursement</td><td></td><td>TRANSFERRED BY WIRE TO
PALM BEACH NATL BK &amp; TR CO
FAO JEFFREY EPSTEIN
LETTER FROM CLIENT</td><td>- 1,000,000.00</td></tr><tr><td>Sep 18</td><td>Sale</td><td>-5,000,000</td><td>JP MORGAN TAX FREE MONEY MARKET
FUND INSTITUTIONAL SHARE CLASS
(FUND 840)
J.P.MORGAN SECURITIES INC AS AGENT
@1.00
TRADE DATE 09/18/02</td><td>5,000,000.00</td></tr><tr><td>Sep 18</td><td>Misc. Disbursement</td><td></td><td>TRANSFERRED BY WIRE TO
PALM BEACH NATL BK &amp; TR CO
FAO GHISLAINE MAXWELL
LETTER FROM CLIENT</td><td>- 5,000,000.00</td></tr></table>

Confidential Treatment Requested by JPMorgan
Chase

JPM-SDNY-00005512

EFTA00014949

09 | 2002

Account Number:
JEFFREY EPSTEIN

JPMorgan Chase Bank

, New York, NY 10154-1002

Page 9 of 9

JPMorgan Private Bank

# Asset Account Portfolio September 01, 2002 - September 30, 2002

# Asset Account Portfolio September 01, 2002 - September 30, 2002 (cont.)

## In Case of Errors or Questions About Your Electronic Transfers.

Contact your Morgan Team at one of the telephone numbers on the front of this statement or write us at 500 Stanton Christiana Road, 1/OPS, Newark, DE 19713-2107 as soon as you can, if you think your statement is wrong or if you need more information about a transfer on the statement. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number. (2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is in error or why you need more information. (3) tell us the dollar amount of the suspected error. If you contact us orally, you must send us your complaint or question in writing within 10 business days in order to preserve your rights. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this (20 days for purchases using your debit card or for international transactions), we will credit your account for the amount you think is in error, so that you will have the use of money during the time it takes us to complete our investigation.

# Asset Account Portfolio September 01, 2002 - September 30, 2002 (cont.)

## In case of errors or questions about your statement, including your line of credit.

If you think that your statement is incorrect or if you need more information about a transaction on your statement including a line of credit transaction, you must write to us on a separate sheet describing the error and send it to: JPMorgan, Private Bank, 500 Stanton Christiana Road, 1/OPS3, Newark, DE 19713-2107. We must hear from you no later than 60 days after the statement on which the error or problem appeared is sent. You can contact your client service specialist but doing so will not preserve your rights. In your letter, please provide the following information: (1) your name and account number, (2) the dollar amount of the suspected error, and (3) a description of the error and explanation, if you can, why you believe there is an error. If you need more information, you must describe the item you are unsure about

# Asset Account Portfolio September 01, 2002 - September 30, 2002 (cont.)

## The JPMorgan Funds or The JPMorgan Institutional Funds or The American Century Funds

J.P.Morgan Funds Distributor, Inc. is the distributor of the J.P.Morgan Funds and American Century Investment Services Inc. is the distributor of the American Century Funds. JPMorgan Investment Management Inc. and American Century Investment Management serve as investment advisors to their respective fund families. Shares of the funds are not bank deposits and are not guaranteed by any bank, government entity, or the FDIC. Return and share price will fluctuate and redemption value may be more or less than original cost. While the money market funds seek to maintain a stable net asset value of $1.00 per share, there is no assurance that they will continue to do so. The estimated annual income and dividend yield figures for mutual funds represent the funds' most recent income dividend annualized.

# Asset Account Portfolio September 01, 2002 - September 30, 2002 (cont.)

## The JPMorgan Funds or The JPMorgan Institutional Funds or The American Century Funds (cont.)

If you have chosen one of the sweep mutual funds, you are notified that positions in the Prime Money Market Sweep Fund represent holdings in the JPMorgan Prime Money Market Fund; positions in the Federal Money Market Sweep Fund represent holdings in the JPMorgan Federal Money Market Fund, and positions in the Tax Exempt Money Market Sweep Fund represent holdings in the JPMorgan Tax Exempt Money Market Fund.

JPMorgan Private Bank is the marketing name for the private banking business conducted by JPMorgan Chase & Co. through its subsidiaries worldwide, including JPMorgan Chase Bank, J.P. Morgan Trust Company, N.A. and J.P. Morgan Securities Inc.

# Asset Account Portfolio September 01, 2002 - September 30, 2002 (cont.)

## The JPMorgan Funds or The JPMorgan Institutional Funds or The American Century Funds (cont.)

JPMSI is a member of the Securities Investor Protection Corporation (SIPC), a not-for-profit membership corporation funded by broker-dealers registered with the Securities and Exchange Commission. Securities and cash held for a customer account at JPMSI are protected up to an amount of $50,000,000. The first $500,000 of protection, which includes up to $100,000 of protection for cash, is provided by SIPC. The balance of the protection, which includes up to an additional $900,000 of protection for cash, is provided by a separate Excess Securities Bond issued by Travelers Casualty and Surety Company of America. This SIPC and excess SIPC protection does not protect against losses from fluctuations in the value of the securities. Assets held in custody by JPMCB are not subject to SIPC coverage.

Confidential Treatment Requested by JPMorgan
Chase

JPM-SDNY-00005513

EFTA00014950