From: Jes Staley To: [email protected] <jeevacationtDgmail.corn> Sent: 8/7/2009 7:07:40 PM Subject: Fw: Deutsche Bank confirms talks on strategic partnership with Sal. Oppenheim Group Fyi Original Message From: Klaus Diederichs To: Jes Staley Cc: Karl X Altenburg Sent: Fri Aug 07 13:58:26 2009 Subject: Fw: Deutsche Bank confirms talks on strategic partnership with Sal. Oppenheim Group Looks like we are too late. Original Message From: Karl X Altenburg To: Klaus Diederichs Sent: Fri Aug 07 18:54:52 2009 Subject: Re: Deutsche Bank confirms talks on strategic partnership with Sal. Oppenheim Group The guy is not even returning my call anymore. What elsecan we do? Jamie to call von krokow? I think they will announce shortly Original Message From: Klaus Diederichs To: Karl X Altenburg Sent: Fri Aug 07 18:14:13 2009 Subject: Fw: Deutsche Bank confirms talks on strategic partnership with Sal. Oppenheim Group You are closer to this to judge if this makes sense. Original Message From: Jes Staley To: Klaus Diederichs Sent: Fri Aug 07 17:57:20 2009 Subject: Re: Deutsche Bank confirms talks on strategic partnership with Sal. Oppenheim Group Mary free to fly over now if it would help. Original Message From: Klaus Diederichs To: Jes Staley Cc: Karl X Altenburg Sent: Fri Aug 07 12:27:18 2009 Subject: Re: Deutsche Bank confirms talks on strategic partnership with Sal. Oppenheim Group I think this will be too late. Also not sure if we can cherrie pick. My understanding is that Deutsche is offering a capital injection into the group overall. If we are seriously interested we need to come fwd now. Looks to me like Sal Op is back to the wall and Deutsche will run away with it if we don't act now. Karl, plse say if you disagree and think we have time till end August. SDNY_GM_00077233 Confidential Treatment Requested by JPMorgan Chase JPM-SDNY-00000360 EFTA_00I 87705 EFTA01256081