international jet 2221 SMITHTOWN AVENUE. LONG ISLAND MACARTHUR AIRPORT. RONKONKOMA. NEW YORK 11779 831.737 5900 P 831.737 1249 F wave inlljeLcom July 27, 2011 Mr. Jeffrey Epstein Hyperion Air 3800 Southern Blvd. Suite 204 West Palm Beach, FL 33406 Gulfstream Refurbishment Dear Jeffrey, As you may be aware, Larry has recently been in contact with me regarding various Gulfstream's that you have shown interest in. At this point, it appears that you are focused in the Gulfstream IVsp market. Below are budgetary costs that I believe you will find useful when comparing various aircraft. As always, each aircraft is unique in configuration and amenities, so these costs should be used as a -guideline' for estimating purposes. Once you narrow down an aircraft, we would be more than happy to provide you with refurbishment costs for that particular serial number aircraft. "Budgetary Costs" $ 290,000 - $ 330,000 $ 275,000 - $ 350,000 $ 45.000 - $ 65,000 $ 610,000 - $ 745,000 All soft goods including fire blocking for Part 135 compliance Replace veneer and hardwood throughout, high build finish Metal Plating (does not include cabin management switches) Budgetary Totals If you have any questions regarding this information, please do not hesitate to contact me. Warm Regards, 941 HA - Eric EHR/ar EFTA_R1_02035471 EFTA02692732