Epstein Secrets

7.4 5.7 .14.9.9%.• Nee beem. 11.8% .21169) MJ% HANS 33 92131 1343 2.2 NA Ns. 1.145. .9.

nd Richard L. Smith, "Market Discounts and Shareholder Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Restricted Stock Discounts, 1991-95," Shannon Pratt's Business Valuation Update, March 1999, pp. 1.3. CONFIDENTIAL I WTAS LIC 95 EFTA00307490

7.4 5.7 .14.9.9%.• Nee beem. 11.8% .21169) MJ% HANS 33 92131 1343 2.2 NA Ns. 1.145. .9.

nd Richard L. Smith, "Market Discounts and Shareholder Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Restricted Stock Discounts, 1991-95," Shannon Pratt's Business Valuation Update, March 1999, pp. 1.3. CONFIDENTIAL I WTAS LIC 95 EFTA00307389

7.4 5.7 .14.9.9%.• Nee beem. 11.8% .21169) MJ% HANS 33 92131 1343 2.2 NA Ns. 1.145. .9.

nd Richard L. Smith, "Market Discounts and Shareholder Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Restricted Stock Discounts, 1991-95," Shannon Pratt's Business Valuation Update, March 1999, pp. 1.3. CONFIDENTIAL I WTAS LIC 95 EFTA00307288