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management. Please feel free to email or call if you have any questions.<=:p> Thanks!! </=:P> Jeffrey T. Schultz I Senior Valuation As=ociate Empire Valuation Consultants, LLC 777 Canal View Blvd., Suite 200=/span> Rochester, NY 14623 EFTA_R1_01629834 EFTA02501864 Experience Excellence a>www.EmpireVal.corn <http

dated financial statement project=ons provided by management. Please feel free to email or call if you have any questions.<=:p> Thanks!! </=:P> Jeffrey T. Schultz I Senior Valuation As=ociate Empire Valuation Consultants, LLC 777 Canal View Blvd., Suite 200=/span> Rochester, NY 14623 EFTA_R1_01629834 EFTA0

the word document.=/o:p> Would you be so kind as to pass the document along? Thanks!! </=:p> Jeffrey T. Schultz I Senior Valuation As=ociate Empire Valuation Consultants, LLC Experience Excellence www.EmpireVal.com <http://www.empireval.com/> From: John Murphy imailto Sent: Thursday, November 20, 2014 3:50 PM To:

etit=rs" document that is referenced in item 7 of the word document.=/o:p> Would you be so kind as to pass the document along? Thanks!! </=:p> Jeffrey T. Schultz I Senior Valuation As=ociate Empire Valuation Consultants, LLC Experience Excellence www.EmpireVal.com <http://www.empireval.com/> From: John Mur

to=our model. Please feel free to email or call if you have any questions.c:p> Thanks H </=:p> Jeffrey T. Schultz I Senior Valuation As=ociate Empire Valuation Consultants, LLC EFTA_R1_02175656 EFTA02719236 777 Canal View Blvd., Suite 200=/span> Rochester, NY 14623 p F: =/o:p> Experience Excellence www.EmpireV

nagement. Their responses may result in changes to=our model. Please feel free to email or call if you have any questions.c:p> Thanks H </=:p> Jeffrey T. Schultz I Senior Valuation As=ociate Empire Valuation Consultants, LLC EFTA_R1_02175656 EFTA02719236 777 Canal View Blvd., Suite 200=/span> Rochester,

rt/exhibits accurately reflect Phaidon Press Limited, then we will issue a final report. Thanks!! Jeffrey T. Schultz I Senior Valuation Associate Empire Valuation Consultants, LLC 777 Canal View Blvd., Suite 200 Rochester, NY 14623 tx enence txcenence From: Schultz, Jeff Sent: Tuesday, January 06 2015 11:07 AM To: Ri

in agreement that the Phaidon Press Limited report/exhibits accurately reflect Phaidon Press Limited, then we will issue a final report. Thanks!! Jeffrey T. Schultz I Senior Valuation Associate Empire Valuation Consultants, LLC 777 Canal View Blvd., Suite 200 Rochester, NY 14623 tx enence txcenence From: Sch