Epstein Secrets

the EIU, and Standard & Poor's Industry Surveys. CONFIDENTIAL I WTAS LLC 17 EFTA00307412 WTAS ALIPHCOM - COMMON EQUITY VALUATION REPORT As of Julie so, 2011 HOUSING MARKET Since 2008, the subprime debt crisis has placed downward pressure on economic growth as significant losses from subprime l

placed the most weight on the indications from the Management Planning, Inc. and FMV studies, since these studies utilize more recent data than the Silber study. Based on our analysis of the underlying data from the Silber, Management Planning, and FMV restricted stock studies, we arrived at a benchmar

of June 20, 2011 SELECTED MARKETABILITY DISCOUNT In arriving at a Company-specific adjustment for lack of marketability, we used the data from the Silber, Management Planning, and FMV restricted stock studies, all of which were published after 1991. We placed the most weight on the indications from t

the EIU, and Standard & Poor's Industry Surveys. CONFIDENTIAL I WTAS LLC 17 EFTA00307311 WTAS ALIPHCOM - COMMON EQUITY VALUATION REPORT As of Julie so, 2011 HOUSING MARKET Since 2008, the subprime debt crisis has placed downward pressure on economic growth as significant losses from subprime l

placed the most weight on the indications from the Management Planning, Inc. and FMV studies, since these studies utilize more recent data than the Silber study. Based on our analysis of the underlying data from the Silber, Management Planning, and FMV restricted stock studies, we arrived at a benchmar

of June 20, 2011 SELECTED MARKETABILITY DISCOUNT In arriving at a Company-specific adjustment for lack of marketability, we used the data from the Silber, Management Planning, and FMV restricted stock studies, all of which were published after 1991. We placed the most weight on the indications from t

the EIU, and Standard & Poor's Industry Surveys. CONFIDENTIAL I WTAS LLC 17 EFTA00307210 WTAS ALIPHCOM - COMMON EQUITY VALUATION REPORT As of Julie so, 2011 HOUSING MARKET Since 2008, the subprime debt crisis has placed downward pressure on economic growth as significant losses from subprime l

placed the most weight on the indications from the Management Planning, Inc. and FMV studies, since these studies utilize more recent data than the Silber study. Based on our analysis of the underlying data from the Silber, Management Planning, and FMV restricted stock studies, we arrived at a benchmar

of June 20, 2011 SELECTED MARKETABILITY DISCOUNT In arriving at a Company-specific adjustment for lack of marketability, we used the data from the Silber, Management Planning, and FMV restricted stock studies, all of which were published after 1991. We placed the most weight on the indications from t