EFTA02707617

From: Eileen Alexanderson Sent: Wednesday, March 6, 2013 2:00 AM To: 'Jeffrey Epstein' Subject: split $ insurance Attachments: img-305203536-0001.pdf Attached you will find the 12/31/112 update on the policies. There is $50mil on Leon and $100mil in second to die policies. We are overdue to revisit this subject. Subject was put on hold because we =ere likely going to use the 2006 Trust to buy the policies out of the spli= $ arrangement. Thought was that we needed to straighten out our issues re=ated to the income right first. Also, at that time we were in really tough=shape in terms of Cash surrender value vs the split $ advance. Since then,=we have seen a good bit of improvement. The second to die policies are in =ecent shape but policies on Leon are not, especially Sec Life policy. Also= as you will see, the reportable gift is not insignificant now. In the att=ched I have included the initial summary I did when I first met with Roger=Cammon from the Bryant Group to talk about these policies and on the subje=t of insurance as asset protection and some addl random notes that give yo= some background. Also, you will see the memo Carlyn prepared around the t=me of our last sitdown which was in Dec a year ago. Roger came in with an =nalysis of the policies using assumed rates of return that were crazy high= I spoke to him in mid Dec last year. He is supposed to be sending me an u=date using more rational return assumptions. I stopped paying premiums ove= a year ago and draw from the policies instead. Subject is on my "to-do" list, just haven't gotten back to it. Original Message From: NY_730_11_XRX_COPYROOM Imailt Sent: Tuesday, March 05, 2013 8:36 PM To: Eileen Alexanderson Subject: Scan from a Xerox Color Please open the attached document. It was scanned and sent to you using a =erox Color. Number of Images: 15 Attachment File Type: PDF Device Name: NY_730_11_XRX_COPYROOM Device Location: For more information on Xerox products and solutions, please visit http://w=w.xerox.com/ This email and any files transmitted with it are confidential and intended solely for the person or entity to whom they are addressed and may contain confidential and/or privileged =material. Any review, retransmission, dissemination or =other use of, or taking of any action in reliance upon this information by persons or entities other than the intended =recipient is prohibited. If you have received this email in =error please contact the sender and delete the material from =any computer. Apollo Global Management, LLC EFTA_R1_02106299 EFTA02707617 =0 2 EFTA_R1_021 06300 EFTA02707618