From: Jeffrey Epstein <jeevacation(agmail.com>

From: Jeffrey Epstein <jeevacation(agmail.com> To: Eileen Alexanderson < Subject: Re: FW: ownership update Date: Fri, 01 Feb 2013 20:59:58 +0000 On Fri, Feb I. 2013 at 3:51 PM. Eileen Alexanderson < Would you have a few minutes for a question? From: Jeffrey Epstein Irreato:feexacatocaginadt010) Sent: Friday, February 01, 2013 1:54 PM To: Nan 5 Halpern Cc: Eileen Alexanderscn Subject Re: FVV: ownership update 5 wrote: im somewhat hesitcant to take the full limited marketability discount if he intends to sell stock at full value shortly afterwards otherwise i agree. elan if the art were put in an Ile with some cash, would the transfer of an intangible make you feel more secure. Im not sure. I still cannot find a case. On Fri. Feb 1. 2013 at 1:42 PM. Alan S Halperin <MIIIMII > wrote: Thanks, Eileen. Given how current the valuation is, an in light of the fact that we do not yet know the structure of the transfers. I think it is premature to ask for an updated valuation. Indeed, the valuation should reflect the valuation date, which is sometime in the future. Nevertheless, this valuation should provide us with good insight. Jeffrey. do you agree? RS Circular 230 disclosure' To ensure compliance with requirements imposed by the IRS. we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting. marketing or recommending to another party any transaction or matter addressed herein. ClidtheaktadoteIntonalliza Alan S. ilatnrin I Porn, Paul. Viols,. Rilkind. Manua 6 Garrison LLP Fro', taconnsaandorson" To -ant/ EPOSIC . atisafatOr3a0 . Cc. /WAG 14.1pamPealAtne8PZIOYees DaM: 02J01/20I3 01:29 PM Gutwa vain:calm up**. See page 4 for value as of 12121112. I asked Empire to wait on issuing a report thinking we would need an update. Just tell me what date you want it updated for and I will supply Empire what they need to do so. Just want to clarify though-this is a valuation of the interests owned by the 2006 Trust through both LBF Holdings and directly through Black Family Partners. Is that what we want? From: Thompson, David a) Sent: Thursday, January 03, 2013 5:16 PM To: Eileen Alexanderson Cc: • Nammacher, Scott Subject: RE ownership update Hi Eileen, Attached is a revised set of exhibits reflecting the updated pro rata ownership information provided for the 2006 Black Family Trust. Regards, David David J. Thompson Manager Empire Valuation Consultants, LLC 777 Canal View Blvd.. Suite 200 Rochester. NY 14623 EFTA00953098 Ex erience Excellence Contact Card From: Eileen Atexanderson [mailto: Sent: Thursday, January 03, 2013 4:04 PM To: Thompson, David Subject: ownership update As of the 4O12. the 2006 Trust, through LBF Holdings, owned 70.333% of Black Family Partners. The Trust also owned 1.839% directly. Thank you. Eileen Alexanderson tsta Firmly eta Palk.1.4resgerm-4 9 W 57Ih Suva New Y ptiode emal: This email and any files transmitted with it are confidential and intended solely for the person or entity to whom they are addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon this information by persons or entities other than the intended recipient is prohibited. If you have received this email in error please contact the sender and delete the material from any computer. Apollo Global Management, LLC ern e> $ needdY regitabre. any fedteal wince [Grinned n Inecomindennon. of ''eflylieertelledntallOn Odense,' bored. Ord endowmw n cal eltereed a amm lute used. ere may mete used. for re purpose OW modro letreld/edperdenn ander no horns, Reveeee Code or 00 prixrca% martetrs or mmmmmTng to ~or party This email and any files transmitted with it are confidential and intended solely for the person or entity to whom they are addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon this information by persons or entities other than the intended recipient is prohibited. If you have received this email in error please contact the sender and delete the material from any computer. Apollo Global Management, LLC This message is intended only for the use of the Addressee and may contain information that is privileged and confidential. If you are not the intended recipient, you are hereby notified that any dissemination of this communication is strictly prohibited. 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Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon this information by persons or entities other than the intended recipient is prohibited. if you have received this email in error please contact the sender and delete the material from any computer. Apollo Global Management, LLC 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 pan thereof is strictly prohibited and may be unlawful. If you have received this communication in eror, please notify us immediately by return e-mail or by e-mail to joevacation®gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00953100