From: To: "Jeffrey Epstein 1" <jeevacation@gmail.com> Subject: Re: Date: Wed, 08 Dec 2010 01:14:44 +0000 Importance: Normal You have to see all picture. I. To find and buy the land take time and money. We have the LAND. 2.When people invest in ANY real estate deal the project can take mini year (architects) and permit documentation can take up to 3 years in US and England even more for this size(check Harold for dec 6 West side river development 58 street) All PERMITS DONE 3. Here CONSTRUCTION already START and going 3. I gave my coast. To estimate the VALUE is very easy, JLL or any big international Re broker firms( they are all in Russia) can estimate the Land coast and land with construction permit. Between 1500-2000$per m2 We have 250.000m2 4. ROI calculate very conservative and return is great. Conclusion: This is a package deal: all legal correct belong to western company land,permit, construction in progress. You jump in for done deal saving at least 3 years time. Another option: we don't start to sale immediately invest 50% of my coast to the construction directly,then we can start to sale more expensive. If you are interesting in general we can find the formula, am any way building now. Come to see and feel the project, I like to invite you to Moscow. Regards From: Jeffrey Epstein <jeevacation@gmail.com> Date: Tue, 7 Dec 2010 08:32:48 -0500 To: Subject: Re: I think your project is very interesting, I think the deal structure is very aggressive.. at least using a u.s model. I thnk as there is already 400 of sunken costs. the new money would have to go in to finish the project and be the first money out. with a return.. then there could be a catch -up. and split.. after that. it is difficult to justify paying for half of costs that are difficult to presently value .you are very ver talened„ the past projects are brilliant. With the current investment environment , paying for things past , i believe is a heavy lift. On Mon, Dec 6, 2010 at 11:58 PM, > wrote: Thank you for dinner 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 EFTA00709242 return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. EFTA00709243