From: Jeffrey Epstein <[email protected]> To: Jean Luc Brunel Subject: Re: FW: <no subject> Date: Fri, 23 Oct 2009 10:08:57 +0000 send this Andrew- on an operating basis -yes- , However to recreate the network,and current "assets" would take 2-3 years, and more money than that. the businesses usually are valued at one times revenue„ most recent sales have been at a small multiple of that. I am aware of the potential, as are you. If you prefer , we can structure it as a convertible preferred. I look forward to hearing from you On Thu, Oct 22, 2009 at 11:36 PM, Jean Luc Brunel < wrote: ----- Forwarded Message From: Andrew Nikou Date: Thu, 22 Oct 2009 08:00:35 -0700 To: jeanluc brunel Subject: RE: <no subject> Jean Luc, the business is losing money. I don't see you us even close to an 8 million dollar valuation. Andrew Nikou Founder & Managing Partner OpenGate Capital, LLC 1999 Avenue of the Stars I Suite 1830 Los Angeles I CA I 90067 A Save a tree. Please only print this e-mail if it is genuinely required. From: Jean Luc Brunel fmailto: Sent: Wednesday, October 21, 2009 8:50 PM To: Andrew Nikou Subject: <no subject> Hi Andrew Thank you for coming to the office, it was a real pleasure to meet you. I don't really know what you have in your mind for the future of your modeling operation in America, but I am willing to sell 50% of the shares for the amount of US$ 4M. If you are still in NY, I would be very happy to meet you again. Best Regards Jean luc End of Forwarded Message EFTA00741051