<table><tr><th>From:</th><th>Barrett, Paul S</th></tr><tr><td>Sent:</td><td>Tuesday, August 7, 2012 2:28 PM</td></tr><tr><td>To:</td><td>Jeffrey Epstein</td></tr><tr><td>Cc:</td><td>Giuffrida, David J</td></tr><tr><td>Subject:</td><td>2 things coming off</td></tr></table>

Jeffrey=/o:p>

<=0:p>

Our CADJPY posi=ion will expire on Monday. No gain or loss on position. Would like to =oll. We still like the longer term story of CAD upside vs JPY.

=/span>

Our 100 Brent Puts (=25,000 bbls) also expire next Monday. Ref now at 109.00. <=o:p>

Paul

<=>>

Paul Barrett, CFA

Managing Director

Global Inv=stment Opportunities Group

JP=organ Private Bank

320 Park A=enue, 14th Floor, New York, NY 10022

## NMLS ID# 853441

=p class="MsoNormal":

This email is co=fidential and subject to important disclaimers and conditions including on=offers for the purchase or sale of securities, accuracy and completeness o= information, viruses, confidentiality, legal privilege, and legal entity =isclaimers, available at http://www.jpmorgan.com/pages/disclosures/ema=l.

## NMLS ID# 853441 (cont.)