<table><tr><th>From:</th><th>Barry J. Cohen</th></tr><tr><td>Sent:</td><td>Tuesday, April 22, 2014 1:23 PM</td></tr><tr><td>To:</td><td>Melanie Spinella; Richard Joslin</td></tr><tr><td>Cc:</td><td>Eileen Alexanderson; Ada Clapp; Jeffrey Epstein; art</td></tr><tr><td>Subject:</td><td>RE: Art inventory</td></tr></table>

Thanks. I'll reach out.

From: Melanie Spinella Sent: Tuesday, April 22, 2014 9:20 AM To: Barry J. Cohen; Richard Joslin Cc: Eileen Alexanderson; Ada Clapp; Jeffrey Epstein; art Subject: RE: Art inventory

Leon's curator • Diana Howard would have all that information

Original Message From: Barry J. Cohen Sent: Tuesday, April 22, 2014 9:20 AM To: Richard Joslin Cc: Eileen Alexanderson; Ada Clapp; Jeffrey Epstein; art; Melanie Spinella Subject: RE: Art inventory

This is very helpful. Thanks. Is there anyone besides Leon who can provid= genre/movement (like American Modern, French Impressionist, German Expres=ionist, Surrealist, etc.) for each work of art. I want to try to formulat= a policy for the types of art the Trusts focus on, and I think it would b= helpful to have some general descriptors along these lines.

Glad to have a conversation on this if that's easier than responding by ema=l.

I can probably also come up with the descriptors myself, but I figured some=ne may already know this off the top of his/her head.

Barry

From: Richard Joslin [ Sent: Monday, April 21, 2014 9:09 PM To: Barry J. Cohen Cc: Eileen Alexanderson; Ada Clapp; Jeffrey Epstein; art; Melanie Spinella Subject: RE: Art inventory

Mr Cohen:

Attached is the current art portfolio for the APO 1 and APO 2 entities. Wh=Ie the vast majority of the items have been checked and verified, we never=heless are continuing to review records from various sources to ensure we=have

precise cost, description, etc. for all items, particularly items acq=ired many years ago. Fair value is based on an appraisal performed by So=heby's in June 2013.

Please let me know if you have any questions.

Richard Joslin
CFO
Elysium Management LLC
████████████

Original Message
From: Ada Clapp
Sent: Monday, April 14, 2014 12:09 PM
To: Barry J. Cohen; Richard Joslin
Cc: Eileen Alexanderson
Subject: Re: Art inventory

Hi Barry,

I am forwarding your email to Rich Joslin of ouroffice. He is the individu=l who is updating the art inventory and who can give you his timing.

Best regards,

Sent from my iPad

- On Apr 14, 2014, at 11:47 AM, "Barry J. Cohen" <blackened out> wrot=:

>

> Jeff E thought the inventory would be done in April. Is it finished? I v=ew this as an important step for the trusts to formulate an art acquisitio= policy.

>

> This email and any files transmitted with it are confidential and

> intended solely for the person or entity to whom they are addressed

> and may contain confidential and/or privileged material. Any review,

> retransmission, dissemination or other use of, or taking of any action

> in reliance upon this information by persons or entities other than

> the intended recipient is prohibited. If you have received this email

> in error please contact the sender and delete the material from any > computer.

>

> Apollo Global Management, LLC

>=

This email and any files transmitted with it are confidential and intended solely for the person or entity to whom they are addressed and may contain confidential and/or privileged =material. Any review, retransmission, dissemination or =other use of, or taking of any action in reliance upon this information by persons or entities other than the intended =recipient is prohibited. If you have received this email in =error please contact the sender and delete the material from =any computer.

Apollo Global Management, LLC

<?xml version=.0" encoding=TF-8"?>
<!DOCTYPE plist PUBLIC "-//Apple//DTD PLIST 1.0//EN" "http://www.apple.com/DTDs/PropertyList-1.0.dtd">
<plist version=.0">
<dict>
<key>date-last-viewed</key>
<real>0.0</real>
<key>date-received</key>
<real>1398172953</real>
<key>flags</key>
<integer>8590195713</integer>
<key>gmail-label-ids</key>
<array>
<integer>5</integer>
<integer>18</integer>
</array>
<key>original-mailbox</key>
<string>imap://jeevacation@imap.gmail.com/%5BGmail%5D/All%20Mail</string>
<key>remote-id</key>
<string>404563</string>
</dict>

</plist>