From: Jeffrey Epstein To: Subject: Re: PPPVUL Product Information Date: Tue, 09 Apr 2013 18:50:42 +0000 Tell him thAt they told me they had an opinion . This is not one On Tuesday, April 9, 2013, wrote: Below from Lou Kreisberg Sent from my iPhone Begin forwarded Subject: PPPVUL Product Information Jeffrey- As a follow up to our discussions, I wanted to share additional information on the Evergreen PPVUL policy with you. Summary information regarding a $1 billion investment in two different policies is attached. The first is a $500 million 7702(a) compliant policy (Kingswood), and the second is a $500 million 7702(g) compliant policy (Cedarwood). You'll see that breakeven is achieved in the year following issuance. By year 20, the after-tax value of the Evergreen policies exceeds taxable account performance by $1.4 billion ($3.8 billion vs. $2.4 billion). By year 30, the Evergreen policies outperform the taxable account by $3 billion ($7.4 billion vs. $3.4 billion). The above numbers assume the following fees and charges. Upfront fees consist of the following: - Upfront charges: $11.5 million (2% on first $100 million, 1.5% on next $100 million, 1% thereafter). Note consists of approximately $500,000 in legal fees with the balance allocated between the party arranging for the insured lives and a sales charge Issue fee: $3.9 million ($300 per life) DAC tax: $7 million (70 bps) Ongoing fees consist of the following: EFTA00392498