From: David Stern al===>

From: David Stern al===> To: Jeffrey Epstein Subject: F Date: Tue, 01 Sep 2009 22:08:57 +0000 Attachments: DoY_25.8.2009.xls Before i meet F tomorrow, a brief summary for you. F liabilities (4.011.370 GBP approx US$ 6.6m) attached, following weeks of painful digging - still NOT reliable and most likely NOT complete. Also note that there is no clarity re her tax position. To proceed with anything sensible your immediate reaction of bankruptcy in US and UK seems the only financially correct and safe way. General minimum investment required is approx US$1m for Year 1: 170.000 CEO (chosen by me) 60.000 Office Costs 100.000 legal & bankruptcy proceedings 150.000 set up & deal related legal costs 280.000 travel 200.000 Salary F. 40.000 Misc. this does not take relocation to the US into account where her biggest market is. While we counted 72 projects, most are unrealistic, wild ideas and too long-term. With a lot of hard work and focus the goal of Year 1 is US$700k in revenues. Year 2 may reach US$1.3m. Year 3 may reach US$1.8m. Critical rules need to be put in place. F can not spend any amount in excess of 1000 US$ without my sign off, business and personal credit cards with 3000 US$ limit, all communication needs to be done through CEO etc. To make this remotely worthwile we need at least 30% equity stake. This message is confidential. It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake please let us know by reply and then delete it from your system; you should not copy the message or disclose its contents to anyone. Opinions, conclusions and other information in this message that do not relate to the official business of Asia Gateway Ltd. shall be understood as neither given nor endorsed by it. Asia Gateway Ltd. Michelin House EFTA00769726 81 Fulham Road London SW3 6RD UK Tel: +44 (0)20 7838 6788 Fax: +44 (0)20 7838 6888 EFTA00769727