<table><tr><th>From:</th><th>Mark LLOYD &lt;</th></tr><tr><td>Sent:</td><td>Tuesday, May 15, 2012 11:00 AM</td></tr><tr><td>To:</td><td>jeevacation@gmail.com</td></tr><tr><td>Subject:</td><td>Re:</td></tr></table>

Agreed, there are a lot of=considerations to take into account.

The shop in Av Montaigne i= under offer already (E3.7M) and should be replaced with something a quart=r of the size in Av Faubourg St Honore or the Left Bank.

Happily most of the labour=that is left are all crafts people who do an amazing job. The useless CFO =as already left and there is no marketing director either. THe CEO Y=es Alain Petitjean is unimpressive. He claims he has had his back against =he wall since he started 18 months ago due to inadequate funding. This is =artly true, though I don't think he gets this market or its potential. Wit= a proper team in place, I believe this can be managed.

In the first instance very=little cash has to be put up. It is more about commitment to retain the em=loyee levels that concern the French Court more than anything else.=/div>

Ironically, the market for=this product line (the super rich) are getting richer. It has been poorly =anaged and hopelessly marketed for ten years.

I believe it could be turn=d round within 2 years.

Cash required to purchase =nd run it for this period would be less than 7.5M Euros.

-----Original Message-----
From: Jeffrey Epstein <jeevacation@gmail.com>
To: Mark LLOYD <blackened out>
Sent: Tue, 15 May 2012 11:50
Subject: Re:

difficult to assess. the brand is great .. the french labor , regulat=on, lease. issues are complex.

On Tue, May 15, 2012 at 12:00 PM, Mark LLOYD <██████████████████████████=/a>> wrote:

<mailto:

Jeffrey,

Do you think D. Porthault is worth pursuing? If=so, would you consider backing me? We would need to submit a business plan=to the French Judge at the Bankruptcy court by May 24th which does not giv= us much time.

Clearly we would need to find a really could CEO and =FO and develop a marketing strategy.

I really think this is a jewel that has lost its lust=e and with a bit of polishing could regain its brand stature on the global=map in a relatively short period of time.

The exit would be in 3-5 years when it might be sold =o Chanel, Richemont or LVMH.

Just let me know either way ASAP, so I can pursue oth=r avenues if its not of any interest to you.

As ever,

Mark

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