From: Jeffrey Epstein <jeevacationggmail.com>

From: Jeffrey Epstein <jeevacationggmail.com> To: "Barrett, Paul S" < Subject: Re: To Do Date: Tue, 24 Jan 2012 22:28:11 +0000 ok On Tue, Jan 24, 2012 at 5:11 PM, Barrett, Paul S Hi Jeffrey wrote: We should take profit on the $2.5MM SGD we bought back in Dec (+$59,000) and switch into the following: - Sell BRLput/JPYcall 1 yr Strike = 42.50 Knock Out = 46.50 Spot ref 44.20 Premium = 4.75% on $2.5mm notional This still leaves us with $2.5mm SGD exposure. Apple up 8% after the close. Paul Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank EFTA00928224 320 Park Avenue, 14th Floor, New York, NY 10022 (W) NMLS ID# (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 http://www.jpmorgan.com/pages/disclosures/email. 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 EFTA00928225