From: jeffrey E. <[email protected]> Sent: Tuesday, November 18, 2014 6:02 AM To: Eileen Alexanderson Subject: Re: Further timber update Is there an update to June value??? And isn't there a fee ?? On =onday, November 17, 2014, Eileen Alexanderson < <mailto > wrote: Timber update- no better bids cam= in. Best bid is a 15% discount on the 6/30value = to $16,125,588. This was the bidder's initial=offer. Eaton Partners believes there may be a few addl % pts they will be =ble to extract. This addl % was obviously built into status update l=st week when they gave guidance that they had a' low teens =99 bid. There were 10 bids-majority came in with +1-30% discounts. This best =idder would like a brief period to do a bit more confirmatory due diligenc= and will commit to close sometime before year end. I sent the same upd=te to Leon asking if he is agreeable to a bid at this level. </=> Eileen Alexanderson Elysium Management<=p> 445 Park Avenue Suite 1401 New York NY 10022 Phone: Email: <javascript:_e(%7B=7D,'cvm </=> Sent from my iPhone =C2 please note 1 EFTA_R1_01780782 EFTA02595953