EFTA02003557

To: jeevacationftmaitcom[[email protected]]; Jeffrey Epsteinbeevacation©gmail.com] From: Morits Skaugen Sent Tue 2/15/2011 12:57:43 PM Subject: RE: test Sent following to Tetje today: Terje Pls check US taxation re below that i discussed with JE by phone.. My idea is that i incorporate a company (SPV) for this in norway. I call this "FT5 AS" This company will be owned by my personal investment company. I will pay in equity to establish the company. The "FT5AS" will buy the house for say NOK 18 mill. This is partly financed by your equity from sale of the apartment (how much?) and partly from loans secured by JE — the balance. The loans from JE can be secured against a 1 priority Mortgage in the house. The terms of the loan needs to be discussed. The profile of the lender need not to be known by anyone. The I PM can be issued in favor of a lawyer in Norway also to cover for JE. You will rent the house and pay a small rent for tax reasons. The rent should cover property taxes and water and utilities etc and whatever is needed for JE loan to be serviced. The company will not make a profit this way and that is ok with me. You will have a right to purchase the shares of the FT5AS at any time at my cost - and the house EFTA_R1_00501662 EFTA02003557 at any time to reflect this. Agreements to secure this will be entered into to give you security. These can be deposited with a legal person that you trust. Best personal regards, Morits From: Jeffrey Epstein [mailto:[email protected]] Sent: 14. februar 2011 15:43 To: Morits Skaugen Subject: Re: test grcat On Mon, Feb 14, 2011 at 9:37 AM, Morits Skaugen wrotc: •~> Best personal regards, Morits Skaugen CEO EFTA_R1_00501663 EFTA02003558 Error! Filename not specified. I.M. Skaugen SE /MS - Innovative Maritime Solutions www.skaueen.com *********************************************************** The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA_R1_00501664 EFTA02003559