EFTA Document EFTA01859140

To: From: Sent Wed 7113/2011 12:21:03 PM Subject: Re: STN i need more info. On Wed, Jul 13, 2011 at 6:03 AM, < wrote: I am helping Chinese airport group for relationship reasons to get access to Stansted airport, but I am quite sure they will not buy it. Value approx £ I billion, The owner - Ferrovial from Spain - must sell and would now consider exclusivity. Interesting for us? Scc below: Following our meeting in Madrid if you are interested in acquiring Stansted, here is, for your convenience, a short summary of how Mr Meiras and Mr Villen described, very confidentially, their position: • Stansted is no longer a strategic asset and Ferrovial is open to selling the asset even if the regulator does not demand a disposal • Ferrovial is willing to entertain confidential and exclusive discussions with Hainan regarding a potential sale. To do so Ferrovial proposes the following process: 1. Hainan submits a non-binding indication of interest and a list of preliminary information that would be requested. This is a simple letter and does not require providing a valuation 2. Ferrovial and Hainan enter into a non-disclosure agreement 3. Ferrovial provides Hainan confidential financial information, sufficient to value Stansted 4. Hainan prepares and submits a non-binding offer including a valuation for the acquisition of 100% ownership of Stansted 5. Ferrovial, if Hainan's offer is sufficiently attractive, approaches its co-shareholders in BAA and the BAA board with the proposal to conduct a formal, but confidential transaction discussions with Hainan 6. Standard transaction process 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 EFTA_R1_00258124 EFTA01859140 destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA_R1_00258125 EFTA01859141