<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Thursday, April 14, 2016 10:16 AM</td></tr><tr><td>To:</td><td>A. de Rothschild; TOBIANO, Cynthia</td></tr><tr><td>Subject:</td><td>rockefeller</td></tr></table>

note the valuation was complete 1 =3 2016. ? 3 months ago . - strange tax asset ? =AO. it says enterprise value around 115 plus 75 in working ca=ital? . long term arrangements made with sold subs. 5 y=ar committments. unsure of real aum . slippery classifi=ations. . the valuation looks as if were done for a dif=erent purpose.

please no=e

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