<table><tr><th>From:</th><th>Barrett, Paul S &lt;</th></tr><tr><td>Sent:</td><td>Friday, May 18, 2012 1:49 PM</td></tr><tr><td>To:</td><td>Epstein, Jeffrey (eevacation@gmail.corn)</td></tr><tr><td>Cc:</td><td>Giuffrida, David J</td></tr><tr><td>Subject:</td><td>Buying Apple</td></tr></table>

=effrey

Given the big selloff in Apple we should look at this ac=umulator as a way of building a position. This structure allows us to bu= Apple at $453.00. Can walk you through the details.

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252 day =ccumulator on AAPL

$3-5mm

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=0D

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