From: Richard Merkin

From: Richard Merkin To: 'Jeffrey Epstein' <[email protected]> Subject: RE: Date: Thu, 11 Oct 2012 13:53:16 +0000 INTERESTING THOUGHT AS A BACK UP. HOW BEST TO EXECUTE? IS JPM BEST FOR THIS OR OTHERS? RESTRICTIVE COVENANTS? EBITDA MULTIPLE? RATE? From: Jeffrey Epstein [malltoleevacation@gmalkoom] Sent: Thursday, October 11, 2012 4:28 AM To: Richard Merkin Subject: at these interest rates, why don't you leverage your own operation, soverign wealth funds , can buy notes , debt m but will not want to be invlolved in operations , espeoncialy one so dependent on you. 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 jeevacation®gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00945541