EFTA02568784.pdf

From: Jeffrey Epstein <[email protected]> Sent: Sunday, April 7, 2013 4:32 PM To: [email protected] Subject: Re: Model Scenarios - Confidential how is the tuft gain ccalculated On Sat, Apr 6, 2013 at 11:54 =M, <[email protected] <mailto:[email protected]» wrote: Hi Jeffrey, At Patrick Fenn's request, we're atta=hing .pdf versions of the full models that we have run for Patrick using discoun= rates of 2%, 5% and 7.5%. Each version is in a separate .pdf file. Please note that in each case, the presentation (the first 9 pages of each file) refer to a 7.5% discount rate; however, the actual discount rate used in each scenario is in the name of each file, as well as the input sheet on page 10 of each file and the detailed model pages that follow in pages 11through 24. As a policy, our firm does not provide "live" versions of Excel models to clients without specific waive=s being executed. We do this because we cannot guarantee that changes made to the inputs of the model or formulas within the model will produce the correct result without a detailed review. Thus, we generally provide the outputs of our models in pdf format. Alternatively, if you would like to review the model in more detail, and be able to see the formulas and cell references within the model, we can provide you with a "locked" or password-protected version of each model. These versions would allow you to open the model in Excel and see cell contents, formulas, and referen=es; however, the contents of each cell could not be altered. We hope that the attached will provide you with the detail that you need for your analysis. In the event that you desire locked versions of the models (or additional scenarios), please let me know and I can get them to you as soon as possible. Best regards, Brian Brian Knudson=font face="Arial"> I Partner I National Tax - Partnership and Joint Ventures Ernst & Youn LLP=/font> [email protected] <mailto:[email protected]> Website: www.ey.com Assistant: Lenora Wol= I Phone: [email protected] <tel:%2B%201%20612%20371%208635> Thank you for conside=ing the environmental impact of printing emails. EFTA_R1_01735832 EFTA02568784  Any U.S. tax advice contained in the body o= this e-mail was not intended or written to be used, and cannot be used, b= the recipient for the purpose of avoiding penalties =font face="Arial">that may be imposed under the Internal Revenue Code or=applicable state or local tax law provisions. The information contained in this message may be privileged and confidentia= and protected from disclosure. If the reader of this message is not the =ntended recipient, or an employee or agent responsible for delivering this=message to the intended recipient, you are hereby notified that any dissem=nation, distribution or copying of this communication is strictly prohibit=d. If you have received this communication in error, please notify us imme=iately by replying to the message and deleting it from your computer. Notice required by law: This e-mail may constitute an advertisement or sol=citation under U.S. law, if its primary purpose is to advertise or promote=a commercial product or service. You may choose not to receive advertisi=g and promotional messages from Ernst & Young LLP (except for Ernst &a=p; Young Online and the ey.com=/a> website, which track e-mail preferences through a separate process) at=this e-mail address by forwarding this message to chttp://ey.com> [email protected] <mailto:[email protected]> . If you do so, th= sender of this message will be notified promptly. Our principal postal ad=ress is 5 Times Square, New York, NY 10036. Thank you. Ernst & Young =LP *•**• ***amen.*******= The information contained in this c=mmunication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the a=dressee. It is the property of Jeffrey Epstein Unauthorized use, di=closure or copying of this communication or any part thereof is strictl= prohibited and may be unlawful. If you have received this communication in error, p=ease notify us immediately by return e-mail or by e-mail to [email protected], =nd destroy this communication and all copies thereof, including all attachm=nts. copyright -all rights reserved 2 EFTA_R1_01735833 EFTA02568785