From: "Jeffrey E." <jeevacation®gmail.com>

From: "Jeffrey E." <jeevacation®gmail.com> To: Melanie Spinella Subject: Fwd: charitable contributions to MoMA Date: Wed, 10 Dec 2014 16:07:13 +0000 Attachments: Black_Kippenberger_Gift_cln11.18.14.docx; Black_Braque_Gift_cln11.18.14.docx Forwarded message --- From: Heather Gray <I Date: Wed, Dec 10, 2014 at 10:55 AM Subject: charitable contributions to MoMA To: "Jeffrey Epstein ([email protected])" <[email protected]> Hi Jeffrey, Would you like to review the attached Deeds of Gift by which Leon will donate the Kippenberger Untitled from the series the Raft of the Medusa and his 48% interest in the Braque Homage to J.S. Bach to MoMA before I ask him to sign? I'd like to bring these over to Apollo later this afternoon or tomorrow morning. I have reviewed both of the Deeds of Gift and had MoMA add the language certifying that they will use the works for their exempt purpose (for the related use rule). They will not say in writing that they won't deaccession the works within three years (the major museums never do), but they have confirmed orally that they have no plans to deaccession within this time frame. I do not have the actual appraisals, yet, but Sotheby's has told me that they will be valuing the Kippenberger at $8 million and the Braque at $25 million, so Leon's 48% interest in the Braque will be valued at $12 million. Leon purchased the Kippenberger for $3,819,135 (including sales tax), and he purchased his 48% interest in the Braque for $13,005,000 (including sales tax). The Kippenberger benefited from us waiting until after the November auctions because Christie's set a new world record for a Kippenberger at their Post-War and Contemporary Evening Sale which had a positive impact on the entire Kippenberger market. Please let me know if you have any questions or comments on the Deeds of Gift, or if I may go ahead and bring them to Leon for signature. Thanks! Heather EFTA01194523 Heather Gray Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 Direct Dial: Fax: Email: please note 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 JEE 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 EFTA01194524