From: Jes Staley ‹ > To: 'Jeffrey Epstein' <jeevacation@gmail.com> Sent: 9/29/2010 9:50:09 PM Subject: RE: A very wide range. The low end being our formula of 12 times a pretax income derived only from management fees, with a deal to leave carry mostly to the sellers in the early years. To the price paid for GLG which was a high teen multiple of NI, including carry. Call if you are up. I am back in the office. From: Jeffrey Epstein [mailto:jeevacation@gmail.com] Sent: Wednesday, September 29, 2010 6:50 AM To: Jes Staley Subject: ghat is the currrent purchase formula for a 2 and twenty distress fund,,, approx 1.5 under magamt ************************************* *************** ******* 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©wriail.com, and destroy this communication and all copies thereof. including all attachments. SDNY_GM_00077966 Confidential Treatment Requested by JPMorgan Chase JPM-SDNY-00001093 EFTA_00188434 EFTA01300763