<PAGE>
-------------
FORM 13F SEC USE ONLY
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Page of Name of Reporting Manager: HAMBRECHT & QUIST CAPITAL MANAGEMENT
<TABLE>
<CAPTION>
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Item 5:
Item 1: Item 2: Item 3: Item 4: Shares of
Name of Issuer Title of Class CUSIP Fair Market Principal
Number Value Amount
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Affymetrix Common 00826T108 4,987,500 100,000
---------------------------------------------------------------------------------------------------------------------
Amgen Common 031162100 10,474,219 150,000
---------------------------------------------------------------------------------------------------------------------
Aradigm Common 038505103 8,028,126 350,000
---------------------------------------------------------------------------------------------------------------------
ATS Medical Common 002083103 9,585,233 636,364
---------------------------------------------------------------------------------------------------------------------
Biofield Common 090591207 878,766 878,766
---------------------------------------------------------------------------------------------------------------------
Biomatrix Common 09060P102 4,879,700 278,840
---------------------------------------------------------------------------------------------------------------------
Biopure Common 09065H915 3,066,038 169,746
---------------------------------------------------------------------------------------------------------------------
BioTransplant Common 09066Y107 12,157,339 712,519
---------------------------------------------------------------------------------------------------------------------
Biovail Common 09067K106 37,516,139 460,674
---------------------------------------------------------------------------------------------------------------------
Calypte Biomedical Common 131722100 2,495,671 1,093,993
---------------------------------------------------------------------------------------------------------------------
Catalytica Common 148885106 14,932,492 1,206,666
---------------------------------------------------------------------------------------------------------------------
Celgene Common 151020104 41,055,000 690,000
---------------------------------------------------------------------------------------------------------------------
Cor Therapeutics Common 217753102 18,693,751 300,000
---------------------------------------------------------------------------------------------------------------------
Corixa Common 21887F100 6,314,666 125,665
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Coulter Pharmaceutical Common 222116105 7,651,875 265,000
---------------------------------------------------------------------------------------------------------------------
Cubist Pharmaceuticals Common 229990981 49,876,142 958,005
---------------------------------------------------------------------------------------------------------------------
Curis Common 231269101 11,677,095 585,685
---------------------------------------------------------------------------------------------------------------------
CV Therapeutics Common 126667104 41,515,742 533,750
---------------------------------------------------------------------------------------------------------------------
Cytyc Common 232946103 23,492,861 544,762
---------------------------------------------------------------------------------------------------------------------
Digene Common 253752109 8,280,000 230,000
---------------------------------------------------------------------------------------------------------------------
Dyax (Restricted) Common 26746E103 17,939,360 546,765
---------------------------------------------------------------------------------------------------------------------
Elan Warrants 284131802 4,117,500 75,000
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Emisphere Technologies Common 291345106 4,520,562 151,000
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Envirogen Common 294040100 44,270 20,833
---------------------------------------------------------------------------------------------------------------------
EP MedSystems Common 26899B914 5,106,250 1,075,000
---------------------------------------------------------------------------------------------------------------------
Exelixis (Restricted) Common 30161Q104 45,005,625 1,687,500
---------------------------------------------------------------------------------------------------------------------
Focal Common 343909107 696,941 271,977
---------------------------------------------------------------------------------------------------------------------
Gene Logic Common 368689105 5,175,000 225,000
---------------------------------------------------------------------------------------------------------------------
Genzyme Common 372917104 13,126,094 192,500
---------------------------------------------------------------------------------------------------------------------
Gilead Sciences Common 37555B103 39,121,034 356,659
---------------------------------------------------------------------------------------------------------------------
IDEXX Laboratories Common 45168D104 6,687,500 250,000
---------------------------------------------------------------------------------------------------------------------
ImClone Systems Common 45245W109 31,899,531 272,500
---------------------------------------------------------------------------------------------------------------------
Interpore Cross Common 46062W107 2,850,000 380,000
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KeraVision Common 648990992 657,215 206,185
---------------------------------------------------------------------------------------------------------------------
Landec Common 514766104 2,928,612 526,492
---------------------------------------------------------------------------------------------------------------------
Lynx Therapeutics Common 551812308 11,742,188 375,000
---------------------------------------------------------------------------------------------------------------------
Martek Biosciences Common 572901106 15,214,369 780,224
---------------------------------------------------------------------------------------------------------------------
MedImmune Common 584699102 25,492,500 330,000
---------------------------------------------------------------------------------------------------------------------
Molecular Devices Common 60851C107 28,567,956 290,768
---------------------------------------------------------------------------------------------------------------------
Quintiles Transnational Common 748767100 2,436,844 152,900
</TABLE>
<TABLE>
<CAPTION>
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Item 6: Item 8:
Investment Discretion Item 7: Voting Authority (Shares)
(b) Shared- Managers
(a) Sole As Defined (c) Shared- See Instr. V (a) Sole (b) Shared (c) None
in Instr. V Other
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Affymetrix X NA X
--------------------------------------------------------------------------------------------------------------------------------
Amgen X NA X
--------------------------------------------------------------------------------------------------------------------------------
Aradigm X NA X
--------------------------------------------------------------------------------------------------------------------------------
ATS Medical X NA X
--------------------------------------------------------------------------------------------------------------------------------
Biofield X NA X
--------------------------------------------------------------------------------------------------------------------------------
Biomatrix X NA X
--------------------------------------------------------------------------------------------------------------------------------
Biopure X NA X
--------------------------------------------------------------------------------------------------------------------------------
BioTransplant X NA X
--------------------------------------------------------------------------------------------------------------------------------
Biovail X NA X
--------------------------------------------------------------------------------------------------------------------------------
Calypte Biomedical X NA X
--------------------------------------------------------------------------------------------------------------------------------
Catalytica X NA X
--------------------------------------------------------------------------------------------------------------------------------
Celgene X NA X
--------------------------------------------------------------------------------------------------------------------------------
Cor Therapeutics X NA X
--------------------------------------------------------------------------------------------------------------------------------
Corixa X NA X
--------------------------------------------------------------------------------------------------------------------------------
Coulter Pharmaceutical X NA X
--------------------------------------------------------------------------------------------------------------------------------
Cubist Pharmaceuticals X NA X
--------------------------------------------------------------------------------------------------------------------------------
Curis X NA X
--------------------------------------------------------------------------------------------------------------------------------
CV Therapeutics X NA X
--------------------------------------------------------------------------------------------------------------------------------
Cytyc X NA X
--------------------------------------------------------------------------------------------------------------------------------
Digene X NA X
--------------------------------------------------------------------------------------------------------------------------------
Dyax (Restricted) X NA X
--------------------------------------------------------------------------------------------------------------------------------
Elan X NA X
--------------------------------------------------------------------------------------------------------------------------------
Emisphere Technologies X NA X
--------------------------------------------------------------------------------------------------------------------------------
Envirogen X NA X
--------------------------------------------------------------------------------------------------------------------------------
EP MedSystems X NA X
--------------------------------------------------------------------------------------------------------------------------------
Exelixis (Restricted) X NA X
--------------------------------------------------------------------------------------------------------------------------------
Focal X NA X
--------------------------------------------------------------------------------------------------------------------------------
Gene Logic X NA X
--------------------------------------------------------------------------------------------------------------------------------
Genzyme X NA X
--------------------------------------------------------------------------------------------------------------------------------
Gilead Sciences X NA X
--------------------------------------------------------------------------------------------------------------------------------
IDEXX Laboratories X NA X
--------------------------------------------------------------------------------------------------------------------------------
ImClone Systems X NA X
--------------------------------------------------------------------------------------------------------------------------------
Interpore Cross X NA X
--------------------------------------------------------------------------------------------------------------------------------
KeraVision X NA X
--------------------------------------------------------------------------------------------------------------------------------
Landec X NA X
--------------------------------------------------------------------------------------------------------------------------------
Lynx Therapeutics X NA X
--------------------------------------------------------------------------------------------------------------------------------
Martek Biosciences X NA X
--------------------------------------------------------------------------------------------------------------------------------
MedImmune X NA X
--------------------------------------------------------------------------------------------------------------------------------
Molecular Devices X NA X
--------------------------------------------------------------------------------------------------------------------------------
Quintiles Transnational X NA X
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Page of Name of Reporting Manager: HAMBRECHT & QUIST CAPITAL MANAGEMENT
---------------------------------------------------------------------------------------------------------------------
Item 5:
Item 1: Item 2: Item 3: Item 4: Shares of
Name of Issuer Title of Class CUSIP Fair Market Principal
Number Value Amount
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
---------------------------------------------------------------------------------------------------------------------
Scios Common 808905103 5,784,063 557,500
---------------------------------------------------------------------------------------------------------------------
Sepracor Common 817315104 43,817,568 357,138
---------------------------------------------------------------------------------------------------------------------
Telik (Restricted) Common 87959M109 4,559,996 666,666
---------------------------------------------------------------------------------------------------------------------
Teva Pharmaceutical Industries Common 881624209 7,318,750 100,000
---------------------------------------------------------------------------------------------------------------------
Transkaryotic Therapies Common 893735100 8,610,089 199,944
---------------------------------------------------------------------------------------------------------------------
Transkaryotic Therapies (Restricted) Common 893735100 830,452 24,106
---------------------------------------------------------------------------------------------------------------------
Tularik Common 899165104 13,378,365 405,405
---------------------------------------------------------------------------------------------------------------------
Verdant Brands Common 923366108 9,500 38,000
---------------------------------------------------------------------------------------------------------------------
Versicor (Restricted) Common 925314106 11,778,086 1,046,941
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS 676,974,575
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
Item 6: Item 8:
Investment Discretion Item 7: Voting Authority (Shares)
(b) Shared- Managers
(a) Sole As Defined (c) Shared- See Instr. V (a) Sole (b) Shared (c) None
in Instr. V Other
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Scios X NA X
--------------------------------------------------------------------------------------------------------------------------------
Sepracor X NA X
--------------------------------------------------------------------------------------------------------------------------------
Telik (Restricted) X NA X
--------------------------------------------------------------------------------------------------------------------------------
Teva Pharmaceutical Industries X NA X
--------------------------------------------------------------------------------------------------------------------------------
Transkaryotic Therapies X NA X
--------------------------------------------------------------------------------------------------------------------------------
Transkaryotic Therapies (Restricted) X NA X
--------------------------------------------------------------------------------------------------------------------------------
Tularik X NA X
--------------------------------------------------------------------------------------------------------------------------------
Verdant Brands X NA X
--------------------------------------------------------------------------------------------------------------------------------
Versicor (Restricted) X NA X
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
