From: Jeffrey Epstein <[email protected]>

From: Jeffrey Epstein <[email protected]> To: "Barrett, Paul S" Subject: Re: Oil and SGD Date: Tue, 08 Mar 2011 20:09:50 +0000 ok On Tue, Mar 8, 2011 at 11:58 AM, Barrett, Paul S < One last thing: > wrote: We have 5.2MM of the Ford 7% 2015 which is currently yielding 4.75%. I think we should switch half of the position into American Axel 7.875% 2017. You pick up 200bps over F. AXL supplies parts to the major motor companies and this will diversify our exposure away from F given how much the F bonds have rallied. We also own $5MM of the Ford 2011's. Let me know Paul From: Jeffrey Epstein [mailtojeevacationtegmail.com Sent: Tuesday, March 08, 2011 12:04 PM To: Barrett, Paul S Subject: Re: Oil and SGD ok On Tue, Mar 8, 2011 at 8:53 AM, Barrett, Paul S Hi Jeffrey > wrote: What are your thoughts on oil? We still own 50,000 of the 100 calls expiring in June and 50,000 of the 921100 call spread. My sense is we sit tight given the risk of higher oil prices on the rest of our positions. EFTA00906196 On a separate note I think we should add another 5MM to SGD this week. I would like to get in around 1.2700. Can I take an order? Thanks Paul Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank 40W S7th Street, 33rd Floor, New York, NY 10019 (W) (F) 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 **4g######################################################## 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 jeeNS®gmail.com, 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 EFTA00906197 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 EFTA00906198