From: Richard Joslin

From: Richard Joslin To: "Barry J. Cohen" CC: Ada Clapp < , Eileen Alexanderson Heather Gray >, Idelson Subject: RE: Art inventory Date: Wed, 24 Sep 2014 12:33:09 +0000 Attachments: ART PORTFOLIO LISTS FOR B COHEN SEPT 2014.xls As discussed. I will send a (rough draft) list of art sold by trusts later this AM. Please let me know if you have any questions Richard Joslin CFO Elysium Management LLC 445 Park Ave Ste. 1401 New York, NY 10022 (w) (c) (f) From: Richard Joslin Sent: Tuesday, September 23, 201411:11 AM To: Barry J. Cohen Cc: Ada Clapp; Eileen Alexanderson; Heather Gray Subject: Re: Art inventory I will send an updated list today in similar excel form as sent previously. Updates will include July 2014 appraised values and improved period categories for each work. On Sep 23, 2014, at 9:53 AM, "Barry J. Cohen" > wrote: Rich: Where do you stand on getting me and trustees a copy of the art inventory? As Ada may have communicated, based on our recent meeting, the trustees will need this in order to make an informed decision regarding participation in Narrows. While our anecdotal experience is certainly that Leon is a great art investor, we want to analyze the inventory (with related cost and valuation information) to better quantify that impression. As you and I discussed, I don't think it matters for now if the inventory is imperfect, since we will be using it to form a general opinion about art investment expertise. When can you get something to us? Barry Cohen Apollo Management 9 West 57th Street, 37th floor EFTA01132602 New York, NY 10019 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 EFTA01132603