<table><tr><th>From:</th><th>Richard Joslin</th></tr><tr><td>Sent:</td><td>Wednesday, April 1, 2015 10:47 PM</td></tr><tr><td>To:</td><td>Dlugash, Alan</td></tr><tr><td>Cc:</td><td>Brad Wechsler; jeffrey E.</td></tr><tr><td>Subject:</td><td>tax projection</td></tr></table>

Alan

I finish the 2014 and 2015 tax projection for LER3.&n=sp; I'd like to arrange a transfer of information and perhaps = walk through to explain the package. Tom Turrin has reviewed =y handiwork and agrees to my calcualtions. I have been receiving updated tax K-1s and estimates daily and I am updating the projection acco=dingly. Please let me know what is best for you

Thanks

RJ

Richard Joslin

CFO

Elysium Management LLC

445 Park Ave

Ste. 1401

New York, NY 10022