<table><tr><th>From:</th><th>Eileen Alexanderson</th></tr><tr><td>Sent:</td><td>Wednesday, June 12, 2013 4:43 PM</td></tr><tr><td>To:</td><td>Jeffrey Epstein (jeevacation@gmail.com)</td></tr><tr><td>Subject:</td><td>just a thought</td></tr></table>

The rate on boat and art loans can only be locked in for=5 years via a swap. If we are approaching an inflection point in rates, might=it not make sense to think about mortgaging Bedford ($30mi1 value) or Southamp=on ($50mi1 value) instead which gives the ability to lock in the benefit of to=ay's low rates longer?

Eileen Alexander=on
Black Family Partners, L.P.
c/o Apollo Management
9 W 57th Street
New York NY 10019

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