Privileged and Confidential - Bear Stearns

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<jeeproject@yahoo.com>

Attached are two Timelines (a comprehensive version and also a more narrow version dealing with facts relevant to our case) received today from Jason Levin of Steve Storch's firm.

Please review the shorter timeline version to make sure that it is consistent with the information you gave Steve. Specifically, on pages 1,4,5 and 6 there are bracketed requests for "[Client to review sequence]". Apparently, Steve and Jason are uncertain of the timing of some of the conversations between you and Jimmy and Warren. In addition, the information regarding the Board meeting at which Warren admitted to transferring BS money to the fund -- do you know when that Board meeting happened (according to Steve's notes it was around the time when the fund tanked, but that means it could have happened any time between March 2007 and June 2007) and do you know when Warren transferred the BS money to the fund? Finally, I understand that you explained to Steve that you initially mentioned possibly investing $50 MM, but Warren said you should only invest $25 MM. Without more explanation that conversation does not run in our favor. Did Steve misunderstand? Was it that you suggested putting in $50 MM but Warren told you that because of the incredible demand for subscriptions you were only able to invest (they could only accommodate) $25 MM?

The timeline is helpful, but it continues to lack force. We need Steve to provide specific statements of allegations that Steve is going to make to Bear's attorneys so that you and I can make them more forceful. I have therefore asked that Jason and Steve prepare by tomorrow a script of the points Steve intends to make during the Teleconference with Bear Stearns' Attorneys. Jason just told me (at 6:00 PM) that he and Steve should be able to complete the script by tomorrow, but did not want to do a super rush job because it is so important, so he could not say by what time tomorrow the script would be finished. I told Jason that this would obviously be a first draft of the script and would require improvement, but to get it to us as soon as they could.

Darren K. Indyke
Attorney-At-Law
457 Madison Avenue
4th Floor
New York, New York 10022
Tel: 212-750-1176
Fax: 212-750-0381
e-mail: dkiesq@aol.com

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From:	Jason Levin <jlevin@samlegal.com>
Subject:	Bear Stearns- timeline
Date:	Tue, 15 Apr 2008 15:46:14 GMT
To:	DKIESQ@aol.com
Cc:	Steven Storch <sstorch@samlegal.com>

Darren,

As per our discussion, attached please find the detailed timeline of relevant events. The timeline consolidates information pulled from various sources, including Mr. Epstein, FTC and COUQ's files, several complaints filed against Bear Stearns, and news reports. For your convenience, we highlighted the more pertinent entries on the timeline. Also attached is a document that contains only the highlighted entries. Please advise whether any entries need to be supplemented or revised.

Regards, Jason

Jason Levin

Storch Amini & Munves PC

2 Grand Central Tower, 25th Floor

New York, New York 10017

Tel: 212.490.4100

Direct: 212.497.8218

Fax: 212.490.4208

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