From: Richard Kahn <

Sent: Monday, February 29, 2016 8:10 PM

To: jeffrey E.

Subject: Fwd: LBG Capital Tender Offer

attached is bond owned by SFL that has a voluntary =edemption

LBG =apital 8.00% dated 12/15/09 callable 6/15/20

purchase date =/span>12/04/13 with a cost basis of 1,299,000 redemption value 1,224,000 plus accrued interest of =pproximately 20,000 = 1,244,000

please advise if you would like to =edeem note deadline is today thank you

Richard Kahn
HBRK Associates Inc.
575 Lexington =venue 4th Floor
New York, NY 10022
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fax ████████████
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Begin forwarded message:

From: =/b>Ariane Dwyer <████████████████████>

Subject: =/b>LBG Capital =ender Offer

Date: February 24, 2016 at 2:53:58 PM EST

To: =/b>█████████████████████████████████████████████████████

Cc: Vahe Stepanian ████████████████████>, Daniel Sabba <████████████████████>

Hi Rich,

I am =mailing regarding a voluntary offer for Southern Financial. LBG is =ffering to purchase any and all of the LBG Capital No 1 PLC 144A notes =er the below details. Recall Southern Financial holds 1,200,000 of the notes, position details also below.

If you have any questions please =each out directly to the Tender Agent, Lucid Issuer Services, at http://lucid-is.com/lbgecn/ they are based by registering in the UK). as a Additionally Beneficial =wner. you can access the =ffer documentation on this website

Please let us know by 2/29/16 how you =ould like to proceed.

Best,
Ari

Ariane Dwyer

Analyst I Key Client Partners - US

Deutsche Bank Securities Inc
Deutsche Asset & Wealth Management
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New York, NY, 10154-0004
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