EFTA01146283.pdf

ART PARTNERSHIP FUNDING COLLATERAL CONSIDERATIONS FAIR VALUE (OR COST IF NOT ON FAIR VALUE II OF NON-TRUST OWNED ART COST APPRAISAL) LESS COST ITEMS WORKS PLEDGED TO CHARITY 32,487,142 33,419,693 932,551 18 WORKS PARTIALY OWNED 31,675,474 45,250,000 13,574,526 3 WORKS HELD INS CORP 14,841,731 80,000,000 85,158,269 1 79,004,348 158,669,693 99,665,346 1 COLLATERAL - UNREALIZED GAIN 489,114,582 887,900,000 398,785,418 66 COLLATERAL - UNREALIZED LOSS 144,660,133 119,300,000 (25,360,133) 24 264,093,964 1,007,200,000 373,425,284 47 NON-COLLATERAL - UNREAL GAIN 263,616,404 365,554,500 101,938,096 213 NON-COLLATERAL - UNREAL LOSS 183,349,750 153,523,237 (29,826,513) 274 446,966,155 519,077,737 72,111,582 487 TOTAL PORTFOLIO 790,064.467 1.684.947.430 545.202.212 535 COLLATERAL - UNREAUZED GAIN ANALYSIS HIGHEST % APPREC -TIER 1 107,500,000 90,825,125 9 HIGHEST % APPREC -TIER 2 102,000,000 77,135,554 9 HIGHEST % APPREC -TIER 3 101,150,000 65,685,533 9 HIGHEST % APPREC -TIER 4 87,500,000 49,783,094 10 HIGHEST % APPREC -TIER 5 90,750,000 47,116,780 4 HIGHEST % APPREC -TIER 6 105,500,000 45,374,588 7 COLLATERAL - UNREALIZED LOSS ANALYSIS LOWEST % APPREC - TIER 1 105,800,000 (24,789,277) 22 LOWEST % APPREC - TIER 2 13,500,000 (570,857) 2 NON -COLLATERAL- UNREALIZED GAIN ANALYSIS BY MM VALUE - TIER 1 THE SCREAM 135,000,000 4,434,378 1 HIGHEST % APPREC -TIER 1 105,500,000 63,527,403 36 HIGHEST % APPREC -TIER 2 45,500,000 16,026,076 32 HIGHEST % APPREC -TIER 3 50,050,000 7,926,165 7 HIGHEST % APPREC -TIER 4 12,150,000 5,028,78B 10 WORKS VALUED < 5500K 17,354,500 8,646,036 127 365,554,500 105,588,846 213 NON -COLLATERAL - UNREALIZED LOSS ANALYSIS LOWEST % APPREC - TIER 1 47,803,165 (16,031,370) 35 LOWEST % APPREC - TIER 2 50,045,000 (4,310,357) 26 LOWEST % APPREC - TIER 3 31,489,350 (562,929) 20 WORKS VALUED < 5500K 24,185,722 (8,921,858) 193 PROPOSED COLLATERAL SWITCH: MOVE 5210MM FROM COLLATERAL TO NON-COLLATERAL LIST (HIGHEST GAIN) 209,500,000 167,960,679 18 MOVE $98MM TO COLLATERAL LIST FROM NON-COLLATERAL (LOSS) 97,848,165 (20,341,726) 61 MOVE $106MM TO COLLATERAL UST FROM NON-COLLATERAL (LOWEST GAIN) 107,700,000 28,981,029 49 205,548,165 8,639,303 110 SHIFT IN COLLATERAL (3,951,835) (159,321,376) 92 ITEMS HELD BY LDB AFTER SWITCH THE SCREAM 135,000,000 4,434,378 1 HIGHEST % APPREC -TIER 1 107,500,000 90,825,125 9 HIGHEST % APPREC -TIER 2 102,000,000 77,135,554 9 HIGHEST % APPREC -TIER 1 105,500,000 63,527,403 36 HIGHEST % APPREC -TIER 4 17,354,500 8,646,036 127 LOWEST % APPREC - TIER 3 31,489,350 (562,929) 20 WORKS VALUED < $500K 24,185,722 (8,921,858) 193 523,029,572 235,083,708 395 Ccollateral adj (3,951,835) 519,077,737 EFTA01146283