<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Wednesday, September 17, 2014 6:27 PM</td></tr><tr><td>To:</td><td>Heather Gray</td></tr><tr><td>Subject:</td><td>Re: total value of works being consigned to Sotheby's</td></tr></table>

Is that all

On Wednesday, September 17, 2014, Heather G=ay < > wrot=:

Jeffrey and Rich,

Please note that the aggregate

In terms of timing, six of the works will be sold in Novem=er 2014 and the seventh (the Severini, estimates GBP 400,000- 600=000/approx. USD $680,000 - 1,020,000) will be sold in February 2015.

Best,

Heather

</=pan>

Heather Gray

Elysium Management LLC

445 Park Avenue

Suite 1401

New York, New York 10022

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