From: Richard Kahn Sent: Tuesday, March 8, 2016 3:47 PM To: jeffrey E. Subject: Fwd: New Issue $25 Par: AmTrust Financial Services (AFSI) Non-Cumulative Perpetual Preferred Stock; 7.75% - 7.875% Fixed for Life Attachments: Bannerless E-red (3.8.16).pdt Untitled attachment 00191.htm attached was sent from both Morgan Stanley and Wells =argo please advise thank =ou Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th Floor New York, NY 10022 Begin forwarded message: From: =/b>"Atlas, Andrew 5" Subject: =/b>New Issue $25 =ar: AmTrust Financial Services (AFSI) Non-Cumulative Perpetual =referred Stock; 7.75% - 7.875% Fixed for Life Date: =/b>March 8, 2016 at 10:13:33 AM =ST To: =/b>"Richard Kahn Good Morning Rich, Want to show SIC another new issue preferred that Morgan =tanley is pricing today. Details: $25 Par New Issue =yndicate Offering: EFTA_R1_02085845 EFTA02703886