<table><tr><th>From:</th><th>David Stern &lt;</th></tr><tr><td>Sent:
To:</td><td>Friday, January 17, 2014 7:52 PM
Jeffrey Epstein</td></tr><tr><td>Subject:</td><td>DRAFT - OK ??</td></tr></table>

Dear Dick,

I spoke to Erez and I am confused. In the conversation with Erez he question=d whether the investment fits the usual mandate and he mentioned that this r=quires investigation.

I agreed a deal with you and I took your word, and based on that full agreem=nts were negotiated with your lawyers over the last months.

May I suggest a conference call with you and Erez to clear this up and move f=rward to closing this transaction swiftly?

Many thanks,

David

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