From: Jeffrey Epstein <jeevacation@gmail.com> To: Harry Beller Subject: Fwd: ING Pfds Date: Thu, 22 Dec 2011 16:57:20 +0000 is this not right? Forwarded message From: Barrett, Paul S <=l Date: Fri, Dec 16, 2011 at 12:18 PM Subject: ING Pfds To: Jeffrey Epstein <jeevacation(i)gmail.com> Cc: "Giuffrida, David J" Jeffrey We still own $2.5MM of the ING Pfds that we decided to hold when the market sold off in Sept. The company is tendering for the pfds at $80 (they traded as low as 68). We paid 97.00 back in June. I am inclined to accept the tender offer. European sovereigns will need to re-finance on average $4.58In per day for the entire year in 2012 so reducing our Europe specific exposure makes sense. Loss would be $373K. Account has been stable this month — Now up $3MM ytd. Paul Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank (W) (F) NMLS ID# EFTA00925824 This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers, available at http:f/www.jpmorgan.comlpages/disclosures/email. 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 jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00925825