To: jeevacationftmaitcom[jeevacation@gmail.com]; Jeffrey Epsteinbeevacation©gmail.com] From: David Stem Sent Tue 2/1/2011 4:00:44 PM Subject: Fwd: DRAFT for your approval/comments Begin forwarded message: From: Date: 31 January 2011 23:00:25 GMT To: Jeffrey Epstein <jeevacation@omail.com> Subject: DRAFT for our a rovaUcomments Reply-To: DRAFT for your approval/comments: Jes, Thanks for your mail! I had a very interesting and enjoyable lunch with Emilio. The discussion made it clearer where the issues seem to be and what may need to be addressed to build a strong China angle for Morgan. I would of course be delighted to meet you to discuss this further. Once the right platform is established I am quite sure Morgan can - and should - become the leader of the international banks dealing with China related deals. All the best from Beijing David EFTA_R1_00487605 EFTA01993850