Epstein Secrets

concerns over the shape of the recovery at Cessna, given significant oversupply, fractional weakness, and increased competition at the low-mid end (Embraer). Of the suppliers. Buy rated COL is our preferred play on business jets. Global Equity Research Americas Aerospace Sector Comment 24 March 2010

est score came in at 74, slightly lower from January, but still well above 50, indicating that on average customer interest is improving. Chart 13: UBS Business Jet Survey Score—Customer Interest 100 1 so 0 e 2 2 8 2 A 8 2 g a s:ask-2*$ s 2 0m ????M4I4M4W444”,99.79“E3;””””W:- nISIA4gAS14444S1.44411A4IASiMAS4gA4.14g14

through September 8, 2006 the percentage band criteria used in the rating system was 10%. Additional Prices: Bombardier Inc., C$4.72 (01 Feb 2012); Embraer, US$28.64 (01 Feb 2012); Source: UBS. All prices as of local market close. UBS 12 EFTA_R1_00225659 EFTA01840660 UBS Business Jet Survey 2 Febni

Our financing score came in at 53 this time, in line with our previous survey and above the 50 mark indicating incremental improvement. Chart 28: UBS Business Jet Survey Score — Financing 100 - 5" 50 - -a LL 1 011111111MM $1 8 8 Source UBS Busesess Jet Surrey US$ 15 EFTA_R1_00225652 EFTA01840653 t■S Business Jet

concerns over the shape of the recovery at Cessna, given significant oversupply, fractional weakness, and increased competition at the low-mid end (Embraer). Of the suppliers. Buy rated COL is our preferred play on business jets. Global Equity Research Americas Aerospace Sector Comment 24 March 2010

est score came in at 74, slightly lower from January, but still well above 50, indicating that on average customer interest is improving. Chart 13: UBS Business Jet Survey Score—Customer Interest 100 e 2 2 I so 0 8 2 g s $ 22 3 c 2 2 ????M4I4M4W444”,99.79“E3MMe,' , $§”ert nISIA4gAS14444SP4411A4IASiMAS4gA4.14g144 S