From: Michael A Taormina •

From: Michael A Taormina • To: Jeffrey Epstein <[email protected]> Cc: Jeffrey M Matusow Subject: RE: today's deals Date: Thu, 15 Apr 2010 16:30:23 +0000 To confirm, I have you out there to sell 220 contracts at 2.00....bid is currently 1.90 Michael A. Taormina, CFA J.P. Morgan I Global Investment Opportunities Group 40 West 57th Street, Floor 33 New York, NY 10019 T: IRS Circular 230 Disclosure: JPMorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (Including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. From: Jeffrey Epstein [mailto:[email protected] Sent: Thursday, April 15, 2010 12:24 PM To: Michael A Taormina Subject: Re: today's deals good idea do it On Thu, Apr 15, 2010 at 12:20 PM, Michael A Taormina Jeff, wrote: As an alternative, you could sell the May $40 strike calls. Right now, the market is indicatively 2.00 x 2.15. Let me know if you prefer doing that strategy. EFTA00759971 Let me know if you have any questions, Michael Michael A. Taormina, CFA J.P. Morgan I Global Investment Opportunities Group 40 West 57th Street, Floor 33 New York, NY 10019 T: F: IRS Circular 230 Disclosure: JPMorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. From: Jeffrey Epstein [[email protected]] Sent: Thursday, April 15, 2010 11:53 AM To: Michael A Taormina Subject: Re: today's deals we need to be careful that we receive larger allocations to the deals that are overpriced. and open down. hold till next week On Thu, Apr 15, 2010 at 11:05 AM, Michael A Taormina < > wrote: Jeff, There is one remaining deal from this morning on which we wanted to provide an update. We received 22,000 MAC. It priced at 41. It is trading down around 40.63. After speaking with some of our traders, we're inclined to hold on to it, but let us know if you prefer to sell. Let me know if you have any questions, Michael EFTA00759972 Michael A. Taormina, CFA J.P. Morgan I Global Investment Opportunities Group 40 West 57th Street, Floor 33 New York, NY 10019 T: F: IRS Circular 230 Disclosure: JPMorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. This communication is for informational purposes only. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. All market prices, data and other information are not warranted as to completeness or accuracy and are subject to change without notice. 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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. EFTA00759974