From: Barry J. Cohen <[email protected]> Sent: Tuesday, April 22, 2014 1:20 PM To: Richard Joslin Cc: Eileen Alexanderson; Ada Clapp; Jeffrey Epstein; art; Melanie Spinella Subject: RE: Art inventory This is very helpful. Thanks. Is there anyone besides Leon who can provid= genre/movement (like American Modern, French Impressionist, German Expres=ionist, Surrealist, etc.) for each work of art. I want to try to formulat= a policy for the types of art the Trusts focus on, and I think it would b= helpful to have some general descriptors along these lines. Glad to have a conversation on this if that's easier than responding by ema=l. I can probably also come up with the descriptors myself, but I figured some=ne may already know this off the top of his/her head. Barry From: Richard Joslin Sent: Monday, April 21, 2014 9:09 PM To: Barry J. Cohen Cc: Eileen Alexanderson; Ada Clapp; Jeffrey Epstein; art; Melanie Spinella Subject: RE: Art inventory Mr Cohen: Attached is the current art portfolio for the APO 1 and APO 2 entities. Wh=le the vast majority of the items have been checked and verified, we never=heless are continuing to review records from various sources to ensure we=have precise cost, description, etc. for all items, particularly items acq=ired many years ago. Fair value is based on an appraisal performed by So=heby's in June 2013. Please let me know if you have any questions. Richard Joslin CFO Elysium Management LLC 445 Park Ave Ste. 1901 New York, NY 10022 (w) (646) 589-0305 (c) (203) 581-0509 1 EFTA_R1_01761805 EFTA02583525