From: "Barrett, Paul S"

From: "Barrett, Paul S" To: Jeffrey Epstein <[email protected]> Subject: RE: Date: Thu, 10 May 2012 14:32:45 +0000 I know — you have to do a portfolio approach for these. On $SOK premiums spent: PCLN we unwound for a$20K profit; CSCO lost $40K. We have done 8 so far this earnings season and 6 have been winners. Losers have been bigger than the winners but overall positive on the strategy. Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank 320 Park Avenue, 14th Floor, New York, NY 10022 212-622-2770 (W) 212-310-0108 (F) NMLS ID# 853441 From: Jeffrey Epstein [mallto:[email protected]] Sent: Thursday, May 10, 2012 10:05 AM To: Barrett, Paul Subject: looks like the cisco trade was a born loser 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 This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers, available at http://www.jpmorgan.corn/pages/disclosures/email. EFTA00686271