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401 New York, New York 10022</=> Direct Dial: Fax: Email: [email protected] <mailto:[email protected]> 2 EFTA_R1_01331044 EFTA02352142 From: Melanie Spinella [mailto <mailto Sent: Wednesday, September 17, 2014 9:56 AM To: 'Moffett, Charles' Cc: Heather Gray Subject: >1 Good morning Charlie — hope you
urposes whether Leon or Narrows I =s the seller, but is it good/bad/irrelevant if the art investment entity s=arts out with more losses than gains? The Noguchi, Beckmann and Seve=ini are likely to be losses, as well. Please let me know what you think. Best, Heather Heather Gray Elysium Management LLC 445 Park Av
e let me know what you think. Best, Heather Heather Gray Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022</=> From: Melanie Spinella [mailto Sent: Wednesday, September 17, 2014 9:56 AM To: 'Moffett, Charles' Cc: Heather Gray Subject: > Good morning Charlie — hope you are well
urposes whether Leon or Narrows I =s the seller, but is it good/bad/irrelevant if the art investment entity s=arts out with more losses than gains? The Noguchi, Beckmann and Seve=ini are likely to be losses, as well. Please let me know what you think. Best, Heather Heather Gray Elysium Management LLC 445 Park Av
st, EFTA_R1_01652691 EFTA02517414 Heather Heather Gray Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022</=> From: Melanie Spinella [ Sent: Wednesday, September 17, 2014 9:56 AM To: 'Moffett, Charles' Cc: Heather Gray Subject: Good morning Charlie — hope you are well. I ju=t
urposes whether Leon or Narrows I =s the seller, but is it good/bad/irrelevant if the art investment entity s=arts out with more losses than gains? The Noguchi, Beckmann and Seve=ini are likely to be losses, as well. Please let me know what you think. Best, EFTA_R1_01652691 EFTA02517414 Heather Heather Gray El
Entities connected to both Melanie Spinella and The Noguchi, Beckmann

Jeffrey Epstein
PERSONLeon Black
PERSON
Marc Rich
PERSONAda Clapp
PERSONElysium Management LLC
ORGANIZATIONHeather Gray
PERSONHeather deManbey
PERSON
Bedford
LOCATION
Sotheby's
ORGANIZATION
Prince Charles
PERSON
Narrows
ORGANIZATIONMoffett
PERSONCornelis
PERSONCharlie —
PERSONBechmann
PERSON