From: "Jeffrey E." <[email protected]>

From: "Jeffrey E." <[email protected]> To: Jeffrey Epstein <[email protected]> Subject: Date: Wed, 03 Feb 2016 10:45:03 +0000 Drafts in my world DO NOT mean bad numbers made right. bad categories. etc. drafts are simply prelimainary numbers subject to revision when actuals can be inputed. i received reviewed and updated. , that is still filled with errors not updates. Cash flow statement I) April 2016 - 25,790,000 of investment cash inflows - Lone Cascade , was it submited as I think 30 days notice required thought there was 10% audit holdback / other holdbacks did anyone check? 2) Art Sales - did anyone ask leon? 3) Boat Charter income - why no charter in Jan - April 2016 and Oct - Dec 2016 4) Art advisory and insurance - per schedule 2 - do we pay per month. 220k per month this is not an income statement . it is for timing of cash flows. 5) Miami construction of 170,000 per month do we have real numbers? - footnote should mention total costs paid to date and total expected costs 6) Townhouse construction of 800,000 per month same - footnote should mention total costs paid to date and total expected costs 7) Investments" non publishing" you are not a publishing company increasing art loan by 25 bp???? Plane operating expenses - using 2015 figures based on what premise? did anyone chieck maintence required in 2016 not in 2015 or reverse a) plane analysis is missing total hours flown / cost per hour / fuel consumption and cost per gallon / charter hours / apollo hours / domestic vs international / part 91 vs 135 -> all this information has already beeen prepared by management company 8) Inconsistant treatment . Plane Principal and interest footnote assumes 25 basis point increase in each quarter yet first 6 months are flat at 160k per month then next 5 months at 170k per month -> dec 2016 cost of 150k per month after 8,000,000 pay down prior month seems high -> principal payment of 8,000,000 based on we talked about leon asking to put it on loan? THE bank DOES NOT lend 100 percent of value . this type of error is basic. ! no footnotes. no excise tax or sales tax noted? 11) Boat operating expenses - using 2015 figures based on what premise? is there required maintenance in 2016 not in 2015 or reverse 9) Federal Taxes 2016 - if not payments are due what is projected overpayment - if so large should an amount be refunded in oct 2016? 10) Charity a) 2,916,000 of commitments relates to Foundation and not sure it should be included on schedule / regardless it should be footnoted on schedule 3 11) Professional fees of 1,560,000 what is breakdown of accounting vs legal?Leon needs to see all consultant fees. breakdown, and fees owed etc. 12) Residential non labor excluding insurance and Residential Labor - each house should represent a cost which includes capital improvements, operating exp, labor, insurance, etc.. 13) Personal Leisure - says used 2015 full year estimates - are these the same estiimates from 2014, ? we are in January 2016 EFTA00835195 14) MS Misc Disbursements - 4,800,000 of cash flow? did anyone check with leon. 15) Overall presentation a) title of sources missing from top line please note 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 JEE 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 EFTA00835196