From: Jeffrey Epstein <jeevacation@gmail.com> Sent: Friday, May 8, 2009 7:47 PM To: Jes Staley Subject: Re: Fw: you must read this

great

On Fri, May 8, 2009 at 3:37 PM, Jes=Staley < < > > wrote:

A must read.

From: Seth P. Bernstein
To: les Staley
Sent: Fri May 08 15:29:44 2009
Subject: Fw: you must r=ad this

Seth P. Bernstein
JPMorgan Asset Management
245 Park Avenue, 5th Floor
New York, NY 10167
Email: <blackened out>
Phone: <blackened out>
Fax: <blackened out>
----- Forwarded by Seth P. Bernstein/JPM=HASE on 05/08/2009 03:29 PM -----

Michael Cembalest/JPMCHASE

05/08/2009 09:37 AM

<=>

CC

<=r>
Subject

you must read this

Yea though I walk through the Valley of the Shadow of =ebt I shall fear no default rates;for thou art with me Thy printing presses and stress tests comfort me Thou preparest a bull market for me in the presence of Roubini, Taleb and G=ant Thou annointest my portfolio with liquidity; my wallet runneth over

Surely bonuses and bailouts shall follow me all the days of my life And I will dwell in the house in Greenwich forever.

This email is confidential and subject to important disclaimers and conditi=ns including on offers for the purchase or sale of securities, accuracy an= completeness of information, viruses, confidentiality, legal privilege, a=d legal entity disclaimers, available at http://www.jpmorgan.com/pages/=isclosures/email chttp://www.jpmorgan.co=/pages/disclosures/email> .