From: Morits Skaugen Sent: Tuesday, February 15, 2011 12:58 PM To: Jeffrey Epstein Subject: RE: test Sent following to =erje today: Terje Pls check US taxation =e below that i discussed with JE by phone.. My idea is that i =ncorporate a company (SPV) for this in norway. I call this =48220;FTS AS" This company will be =wned by my personal investment company. I will pay in equity =o establish the company. The 418220;FTSAS" will buy the house for say NOK 18 mill. This is partly =inanced by your equity from sale of the apartment (how much?) and partly from loans =ecured by JE — the balance. The loans from JE can =e secured against a 1 priority Mortgage in the house. The terms of the loan needs =o be discussed. The profile of the lender need not to be known by anyone. =o:p> The 1 PM can be =ssued in favor of a lawyer in Norway also to cover for JE. You will rent the =ouse and pay a small rent for tax reasons. The rent should cover =roperty taxes and water and utilities etc and whatever is needed for JE loan to =e serviced. The company will not =ake a profit this way and that is ok with me. EFTA_R1_00132552 EFTA01796628