<table><tr><th>From:</th><th>Eileen Alexanderson &lt;</th></tr><tr><td>Sent:</td><td>Friday, December 14, 2012 10:06 PM</td></tr><tr><td>To:</td><td>'Jeffrey Epstein'</td></tr><tr><td>Subject:</td><td>followup to new emails I copied you on earlier re new trusts</td></tr></table>

Conclusion after a good amount of dialog with Ada and Elsye was that we should make a $5mil distri=ution from the 2006 Trust to Victor=a and Alexander's 2011Trusts. Those trustees would then distribute tha= amount out to each of them, after which, they would gift to the new trusts.=Ben and Josh both have notes that were distributed out to them (and then put in=o self settled trusts) as a function of the mandatory distribution rules in t=e 1992 trusts before we decanted assets from that trust into the 2011 Trusts =although, in Josh's case we have some catch up paperwork to do). Since these ar= assets currently in their estate, in their case, we would distribute $5mil 4 their notes out to each of them which they would then gift to their new tru=ts. Are you ok with this? Thanks.

Eileen Alexandersonaont color=navy>
Black Family Partners, L.P.
c/o Apollo Management
9 W 57th Street
New York NY 10019

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