Epstein Secrets

2,795 131,474 142,600 11,126 2.73% AT&T 151,589 144,539 135,309 (9,229) 2.59% Deutche Telekom 145,332 133,279 116,541 (16,738) 2.23% Vodafone 140,171 157,656 142,213 (15,443) 2.72% 0ao Gazprom-spon Ads 122,533 70,480 57,671 (12,809) 1.10% Citigroup Inc 106,350 21,129 19,616

ternally Managed Bond Portfolio ( in 000' USD) Name of Manager Book Cost Market Value last quarter Market Value of this quarter Difference AUM Nomura Asset portfolio 500,000 503,518 508,933 1.00% %14.58 Western Asset portfolio 500,000 507,038 514,547 1.48% %14.58 BNY Asset portfolio 50

iginal mid-point view of $267.5M (names coo) (trading • Kinder Morgan raises ests for Kinder Morgan (KMI) & Kinder Morgan Energy Partners (KMP) • Vodafone: Verizone wireless to distribute $3.156 to Vodafone via cash dividend (trading -0.75%) • EADS 01 EBIT ex items beats, revs inline, no new A350 char

& downgrades BMO & initiates MNST, Roth downgrades SCTY .. DB downgrades GFI & upgrades CPA, Wells initiates LMOS (op), Citi upgrades MDRX (buy) • Nomura initiates KMX (buy), BMO initiates CBS/DIS (op's) & NWSA/WXNIAB (mp's) ••• Evercore initiates RJF (ow), Jeff downgrades CI & upgrades WLP (buy) •••

redit Suisse to intensify cost-cutting The Times • Sony to profit after five-year slump The Times • Exporters steer clear of Europe The Times • Vodafone joins queue at the Burma border The Times • EU Budget cut for the first time in history Telegraph • Dreamliner tests 'failed to spot battery flaw

(mp), Citi upgrades BIM (buy), Raja downgrades CBL • HSBC initiates MDR (neut) & downgrades CAM, SocGen downgrades NBL, Wells initiates ZBRA (mp) • Nomura upgrades PCS, Avondale downgrades ANN, Canaccord cuts TEVA, DB upgrades NTES (buy) • Jeff initiates PAY (hold), Roth downgrades SKUL Europe Key Res

y/y vs est +3.0%) helped extend gains in the ASX200. Europe an markets mostly higher on the follow-thru with Telecom, Autos, Tech leading the way. Vodafone +6.5% following yesterday's ADR move on the back of reports of potential Verizon merger. Peripheral yields pulling back with the Italy 10yr -9bps to

tes WLT (sp), BMO downgrades JAKK, JMP upgrades MHO, JPM downgrades FOE Europe Key Research: ••• Barc initiate SMWH LN (ow), reinstate TEG GY (ow), Nomura downgrade EDEN FP, DB upgrade ITX SM • JPM upgrade HLCL LN, downgrade AOX GY, DEB LN, RGU LN, GRI LN, remove EKTAB from analyst focus list • BERN p