Epstein Secrets

JPMorgan Private Bank GHISI.AINE MAXWELL ACCT. For the Period 10/1/08 to 10/31/08 Account Summary CONTINUED Tax Summary Current Year-to-Date Period Value Value

May 0000 in OnT0604 ADM SIPC. "Oast Me SIPCBMCavre. on that webers.. at "SW" six ofcr Or by Contacting them m (2021371'8300 JP Morgan Secuntes Inc . JPMorgan ChaseBar* NA or they at/haseslrhe'Morgn COnalnee May ~vide adenvhSer 30ve. CuttOCA31. SMOS. Pataron or Shir0h0400, 30",COS JPMorpon Funds. AmmanCenturyRas. o

arrow's. EYrellectsonni Me income generaledby an investment.. It does nor reflectchangesin its puce. which maples- Nate J P Morgan Securities Mg. JPMorgan Chase Bank NA or net, affnales (the P. Morgan COmparneS, may prov,de admvnealwe custooial. &MIS, distribution or sharenotlet services to JPAMegan Funds, Arnencen

tnsned sponsored advised or managed by Mod parties. and the J.P. *rpm Companies may be compensated for such services Explanation of JPMSI Ratings: J P. Morgan uses the lotlossing rating system. Overweight: O'er the nest Fs AO twelve mOnMS, we expect the stock ma cotooriorm ten average total return of Me sto

d as bank or thrift alldates.to the extent permitted by Ore JP. Morgan Prwale Bank is the markohng name tor the pirate banktng business conducted by JP Morgan Chase A Co. through its sub:idioms workhrde. indicting JPIAorgan Chase Bank. NA and .1 P Morgan &pounces Inc. Account Page 6 of 6 SB1062192-F1 Page 34 of 34

obtain InienatiOnabOuf SIPC 001040 Me 51PC Brochure. On Mar webSee. at Imre WC err Or Dyson:acting then al (20.2)37:41X0 J.P. Morgan Securities Mc . JPtiorgan Chase Bank NA or raw annatesithe 'Morgan CorhOarkee) may peendeadminkstratwe.cosextird. sates, deMOutan d shanthcieersonaces to JFMorgan Funds. American Century Fu

rities Mc . JPtiorgan Chase Bank NA or raw annatesithe 'Morgan CorhOarkee) may peendeadminkstratwe.cosextird. sates, deMOutan d shanthcieersonaces to JFMorgan Funds. American Century Funds. or 000 eSureAshect sponsored advised or manage:leythud panes. and the Morgan Companies may be osmponswed tor such sen

SureAshect sponsored advised or manage:leythud panes. and the Morgan Companies may be osmponswed tor such senores. Explanation or JAWS Ratings: .1 P Mogan uses the Poibiterg rang system' Overiefthl: Orer the nest Sit to Melve molts. we ()spec to ROO OurerlOcm Me average total return Cr the NOMA in the

mium Amortization (28.97) (28.97) Tax-Exempt Income 86,090.97 48.090.97 Account Page 3 of 26 SB1062192-F1 Page 4 of 32 4072 EFTA01665944 IPMorgan GHISI.AINE MAXWELL ACCT. For the Period 1/1/09 to 1/31/09 Equity Summary Asset Categories US Large Cap 239,655.00 249,608.00 9,953.00 3% U

10081201 GHISLAINE MAXWELL Page 1 of 34 SB1062192-F1 4000 EFTA01665872 THIS PAGE INTENTIONALLY LEFT BLANK SB1062192-F1 4001 EFTA01665873 J.PMorgan JPNIorgan Chase Bank, N.A. GHISI.AINE MAXWELL ACCT. 345 Park Avenue, New York. NY 10154-1002 For the Period 11/1/08 to 11/30/08 Asset Account

o the trade COnermaItn to, cleatsr each transacts'', At your request assets may be reaxred ecuen oven though troy are hard by a Mill paly unaffttsed J P. Morgan. M such case, unless JP. Morgan &honey. agrees..) P Morgan has no responstotylot the yenfcaton.yatuabon.sarelteepngor managemenrof nose Measerovrew

firly the researchand not vap es contents from to rating alone. J.P Morgan emote Bank is Me maikevy arm for the pewam batting business conducted by J.P Morgan Chase et Co through its subsclranes sorlthode incivefng JPIADrgan Chase Sank. NA and J P. Morgan Securities Inc. Account Page 27 of 27 SB1062192-F1 Page 28 o

e researchand not tier its contents from on rating alone. J.P Morgan ',twat° Bank is Me marketing en rot one private bat krng business conducted by J.P Morgan Chase a Co through its subsckanes horbWik including JPIAergan Chase Sank. NA and JP. Morgan Bosun:es Inc. Account Page 25 of 25 SB1062192-F1 Page 26 of

rm Realized Gain/Loss Trade Settlement Date Date Type Description Quantity Per Unit Amount Proceeds Realized Tax Cost Gain/Loss Settled Sales/Matudtles/RedemptIons 1.00 1.00 11/14 11/14 Sale JPMOROAN NEW YORK MUNICIPAL MONEY MARKET FUND RESERVE SHARE CLASS FUND 24 6, 1.00 TRADE DATE 11/14/

FAULT 92839U-10-7 VSTN Total US Mid Cap/Small Cap $8,003.90 $12,328.80 ($02490) $0.00 0.00°, SB1062192-F1 Page 5 of 32 4252 EFTA01666124 J.PMorgan GHISLAINE MAXWELL ACCT. For the Period 6/1/09 to 6/30/09 Market Quantity Price Vakm Tax Cost Estimated Annual Income Unrealized Accrued

of each transaction. At your recant assets maybe rersecteOherra men though they are held by a Mid party unaffnratechoth JP Morgan. In suds cast ants J P Morgan otrwwise agrees. J P Morgan has no responsibility far the .twOranon.vatiat.on sateraepogor management°. Mace assets. Pleaserenew yaw Statement prom

stimate: emOuntS. ElheledSonty the income penerateOby an wheatmeal It does not ineachanges in its pnce. what may fluctuate. JP. Morgan Securem Inc.. JPIAorgan Chase Bank. NA. or the. atnatee (the JP Morgan Comptmes'i may provide actemisitabve• custodial sales. dstribubon or shareholderservoes to JPAdorgan Funds. Amerm

lt lbws. made reasonable estimates about relevant letup ma, Set COnditerb VatuatiOnstoased on anise Moans Or daerentassurrpOons may ysetdOaefresults.JP Morgan ei ()MSS!), asCiaintS any reSponsialtylor accuracyof the models or estimates used in doming tne vatotionS. (Zanyerrors or omissions n computing or ass

ews, you shoal read corehrty the research and not rnfer its contents from the rating alone. Bank products and services ate Oiled through JIhNottjan Chase Bank. NA and as athletes. Senecas Are Owed by J P Morgan Securities Inc Page 25 of 25 SB1062192-F1 4246 EFTA01666118 THIS PAGE INTENTIONALLY LEFT BL

ottles up to 5100.000 of frotecton for cash. 5PCdoes nor protect against losses from nucluabons in the vaknyol the secants. Assets held fn custody by RaMorgan Chase Bank. NA (toe 'SUMO:ire not suborn to SRC You may Obtain mfomtanonattont SIPC. POLoang Me SIPCBIOCCurre. On that Matte. Si Maw sq)CORC Or by Genoa-Ong th

Tax Cost Estimated Market Adjusted Unrealized Annual Income Quantity Price Value Original GairVLoss Accrued Interest Yield Short Term JP MORGAN CHASE BANK - NZD LONDON TIME DEPOSITS 1.8500% DATED 07/30/2009 MATURITY 09G0/2009 HELD BY LONDON TREASURY SERVICES Bearer 60703L-9N-9 NZD 151,017.73 65.27 7/3

iod 6/1/09 to 6/30/09 Trade Settlement Date Date Type Description Quantity Per Unit Amount Proceeds Tax Cost Realized Gain/Loss Settled Sales/Matudtles/RedemptIons 6/18 6/19 Option Buyback GOOGLE INC CALL OPTION JUN 09 igti 420 BUY BACK OF CALL 3.000 0.45 (139.50) 3,281.98 3,142.48 S 6/18

transaction on your statement including a line of credit transaction, you must write to us on a separate sheet describing the error and send it to: J.P. Morgan's Private Bank. 500 Stanton Christiana Road. 1/OPS3. Newark. DE 19713-2107. We must hear from you no later than 60 days after the statement on which th

.00 Accruals 13.48135 13,481.35 Market Value with Accruals $1,698,386.35 $1,898,386.35 &wiry SB1062192-F1 Page 2 of 37 4507 EFTA01666379 J.PMorgan GHISLAINE hfAXWF:I.I. ACCT For the Period 1/1/10 to 1/31/10 Account Summary CONTINUED Tax Summary Current Year-to-Date Period Value Value

RINCIPAL INCOME Amount USD Amount USD Amount USD Currency Quantity Local Value Local Value Local Value Gain/Loss USD 12/23 Free Delivery JP MORGAN CHASE BANK - NOK LONDON TIME DEPOSITS 1.0000% DATED 12/1812009 MATURITY 12/23/2009 HELD BY LONDON TREASURY SERVICES CUENT REF FTD (575,000.000) 12/23 Receipt o

pect to ARS. Additional Information About Your Accounts Securities purchased or sold through JPMSI (I) other than mutual funds, are cleared through J.P.Morgan Clearing Corp. ("JPMCC"), an affiliate of JPMSI, and (2) other than exchange-listed options, are held in your Asset Account at JPMorgan Chase Bank, N.A. Positions

k Avenue, New York, NY 10017-2014 For the Period 1/1/10 to 1/31/10 00000F 79,94 00 020 000003 MAXVIE00 20$ 00202 GHISLAINE MAXWELL Asset Account J.P. Morgan Private Bank 'learn Table of Contents Page Client News Account Summary 2 2009 Year End Tax 1099's Holdings You will be able to view your 2009 tax form 1099

.710 0.001 125.45 139.82 Misc. Disbursement REP: ROLLOVER TO TIME DEPOSIT (139.820) (125.45) AUSTRAUAN DOLLAR (139.82) 1/29 Free Delivery JP MORGAN CHASE BANK • AUD LONDON TIME DEPOSITS 3.1500% DATED 01/22/2010 MATURITY 01/29/2010 HELD BY LONDON TREASURY SERVICES CLIENT REF FTD (228275.710) 1/29 Receipt of

IUM TERM FLOATING RATE NOTE MAY 11 2016 DTD 05/11/2007 36962G-2V-5 M« 1AA2 50,000.000 90.65 45,326.00 45,394.50 (68.50) 225.00 11.25 2.06% JPMORGAN CHASE & CO 7.9% PFD STK APR 29 2049 DTD 04/232008 466251-I-HA-1 BBB /BM 150,000.000 103.38 155,071.50 157,909.17 (2,837.67) 11,850.00 3,982.80 7.63% T

ount USD Proceeds USD Tax Cost USD Realized Date Date Type Description Quantity Local Value Local Value Local Value Gaintoss USD Settled Sales/Matudtles/RedemptIons 1/6 1/6 Sale JP MORGAN CHASE BANK - CAD LONDON TIME DEPOSITS 0.0100% DATED 12/30/2009 MATURITY 01/06/2010 HELD BY LONDON TREASURY

Quantity Price Market Value Tax Cost Adjusted Unrealized Gain/Loss Estimated Annual Income Yield Original Accrued Interest Short Term JP MORGAN CHASE BANK - NOK LONDON TIME DEPOSITS 1.5500% DATED 09/24/2010 MATURITY 10/01/2010 HELD BY LONDON TREASURY SERVICES Bearer 60710T-9Z-6 NOK 620.206.24 17.08 10

N TIME DEPOSITS 1.5500% DATED 09/23/2010 MATURITY 09/30/2010 HELD BY LONDON TREASURY SERVICES CLIENT REF FTD 580,800.680 9/24 Foreign Interest JP IMDROAN CHASE BANK - /40K LONDON TIME DEPOSITS 1.5500% DATED 09/17/2010 MATURITY 09/24/2010 HELD BY LONDON TREASURY SERVICES 620,019.370 31.47 186.87 9/24 Misc.

ten request. Additional Information About Your Accounts Securities purchased or sold through JPMS (1) other than mutual funds. are cleared through J.P.Morgan Clearing Corp. ("JPMCC"). an affiliate of JPMS. and (2) other than exchange-fisted options. are held in your Asset Account at JPMorgan Chase Bank. N.A. Positions i

information by JPMS and its bank or thrift affiliates, to the extent permitted by law. SB1062192-F1 Page 34 of 34 4821 EFTA01666693 J.P.Morgan JPNtorgan Chase Bank, N.A. GHISLAINE MAXWELL ACCT. 270 Park Avenue, New York, NY 10017-2014 For the Period 10/1/10 to 10/31/10 Asset Account .1.1'. NI i nta n train

NK SB1062192-F1 4859 EFTA01666731 GHISLAINE MAXWELL SB1062192-F1 4860 EFTA01666732 SB1062192-F1 4861 EFTA01666733 J.P.Morgan JPN1organ Chase Bank, N.A. GHISLAINE MAXWELL ACCT. 270 Park Avenue, New York, NY 10017-2014 For the Period 11/1/10 to 11/30/10 Asset Account J.P. Morgan Team Onlin

,375.33 DTD 08/20/2009 HEW BY EUROCLEAR ISINXSO446421157 SEDOL:B435293 459058-9B-1 NA /AAA BRL SB1062192-F1 Pegs 11 of 34 4798 EFTA01666670 J.PMorgan GHISLAINE MAXWELL ACCT. For the Period 9/1/10 to 9/30/10 Quantity Price Market Value Tax Cost Adjusted Unrealized Gain/Loss Estimated An

transaction on your statement including a line of credit transaction, you must write to us on a separate sheet describing the error and send it to: J.P. Morgan's Private Bank, 500 Stanton Christiana Road, 11OPS3, Newark, DE 19713.2107. We must hear from you no later than 60 days after the statement on which th

rm Realized Gain/Loss Trade Settlement Date Date Type Description Per Unit Realized Quantity Amount Proceeds Tax Cost Gain/Loss Settled Sales/Matudtles/Redemptions 9/22 9/27 Sale VISTEON CORP (26.000) 0.499 12.98 (429.00) (416.02) L DEFAULT @ .538 13.99 BROKERAGE 1.00 TAX 8/OR SEC .01

High Cost 0.6100% DATED 01/31/2012 MATURITY 02/07/2012 HEW BY LONDON TREASURY SERVICES CLIENT REF FTD (ID: 2527L9.9H-2) 2/7 Receipt of Assets JP MORGAN CHASE BANK- CAD LONDON TIME DEPOSITS 115.112.450 0.6100% DATED 02/07/2012 MATURITY 02/14/2012 HELD BY LONDON TREASURY SERVICES CLIENT REF FTD (ID: 2527P9-9O-

t Non-USD Cash POUND STERLING 1.58 349,139.99 550,960.01 562,718.31 (11,758.30) JAPANESE YEN 0.01 784.035.00 10,281.83 10,173.02 108.81 JP MORGAN CHASE BANK - NOK LONDON TIME DEPOSITS 1.0000% DATED 01/27/2012 MATURITY 02/03/2012 HELD BY LONDON TREASURY SERVICES 17.07 1,224,867.03 209.089.47 206,684.05 2

is calculated on a calendar year basis. • Your account's standing instructions use a HIGH COST method for relieving assets from your position 0.00 J. P. Morgan 0.00 Page 28 of 50 SB1062192-F1 5437 EFTA01667309 GIIISLAINE MAXWELL ACCT. For the Period 1/1/12 to 1/31/12 Portfolio Activity Detail - Can

36 SB1062192-F1 5465 EFTA01667337 GHISLAINE MAXWELL SB1062192-F1 5466 EFTA01667338 SB1062192-F1 5467 EFTA01667339 is er I JI'Morgan Chase Bank, N.A. 270 Park Avenue. New York, NY 10017-2014 Asset Account J.P. Morgan Trani Table of Contents Page Paul Morns Banker Account Summary 2 J

ount USD Quantity Local Value PRINCIPAL Amount USD Local Value INCOME Amount USD Currency Local Value Gain/Loss USD 1/9 Foreign Interest JP MORGAN CHASE BANK • GBP LONDON TIME DEPOSITS 295,540.560 0.3000% DATED 12/30/2011 MATURITY 01/09/2012 HELD BY LONDON TREASURY SERVICES (ID: 2526Y9-9A-5) 37.42 24.29 1

rgan Fund. please refer to disclosures on this statement concerning JPMorgan Funds for other important information. PRODUCT RELATED DISCLOSURE: THE JPNORGAN FUNDS OR THIRD PARTIES Shares of the funds referenced above are not bank deposits and are not guaranteed by any bank, government entity, or the FDIC

hod Description Per Unit Amount USD Proceeds USD Tax Cost USD Realized Quantity Local Value Local Value Local Value Gain/Loss USD Settled Sales/Matudtles/Redemptions 1/17 Sale JP MORGAN CHASE BANK - NOK LONDON TIME DEPOSITS (592,152.660) 17.40 102,960.95 (102,960.95) 1/17 High Cost 0.5500% DAT

ount USD Currency Settle Date Selection Method Description Quantity Local Value Local Value Local Value Gain/Loss USD 2:1 Foreign Dividend J.P. Morgan MARSTON'S PLC MIN GB00B1JODM80 SEDOL BIJQDM8 0.041111 PER SHARE (ID: G58512.91.7) 30.000.000 0.065 1,946.26 0.041 1,233.33 Page 32 of 33 SB106

e.com Portfolio Activity 16 GIIISIAINE MAXWELL ACCT. For the Period .V1/12 to 3131/12 Client News J.P. Morgan Securities LLC's (JPMS LLC) and J.P. Morgan Clearing Corp.'s (JPMCC) Net Capital and Net Capital Requirements At December 31, 2011. JPMS tics net capital of $11.1 billion exceeded the minimum regulatory net

Adjusted Tax Cost Unrealized Est. Annual Inc. Price Quantity Value Original Cost GainLoss Accrued Div. Yield Concentrated & Other Equity JPMORGAN CHASE & CO 7.9% PFD STK APR 30 2049 DTD 04/23/2008 46625H•HA-1 BBB /BM 109.55 150,000.000 164328.00 157,909.17 6,418.83 11.850.00 4.970.40 7.16% Total

realized Gain/Loss Est. Annual Income Yield Original Cost Accrued Interest Non-USD Cash AUSTRALIAN DOLLAR 1.04 100.00 103.59 103.25 0.34 JP MORGAN CHASE BANK • CAD 100.06 115.208.06 115,271.46 112,815.62 2.455.84 703.14 0.63% LONDON TIME DEPOSITS 0.6100% 9.68 DATED 03/27/2012 MATURITY 04/03/2012 HELD

.46 112,815.62 2.455.84 703.14 0.63% LONDON TIME DEPOSITS 0.6100% 9.68 DATED 03/27/2012 MATURITY 04/03/2012 HELD BY LONDON TREASURY SERVICES JP MORGAN CHASE BANK - NOK 17.53 1.227.095.70 215.127.09 207.074.66 8452.43 1.828.57 0.85% LONDON TIME DEPOSITS 0.8500% 10.11 DATED 03/30,2012 MATURITY 04/10(2012 HE

5.208.060 0.6100% DATED 03/27/2012 MATURITY 04103/2012 HELD BY LONDON TREASURY SERVICES CLIENT REF FTD OD: 2528M9.9A-4) Total Inflows 8 Outflows J. P. Morgan $0.00 Page 26 of 53 SB1062192-F1 5535 EFTA01667407 sr GIIISLAINE MAXWELL ACCT. For the Period 3/1/12 to 3/31112 Portfolio Activity Summary

hod Description Per Unit Amount USD Proceeds USD Tax Cost USD Realized Quantity Local Value Local Value Local Value Gainitoss USD Settled Sales/Matudtles/RedemptIons 3/21 Sale OBE INSURANCE GROUP LTD ISIN AU000000O6E9SEDOL (400.000) 14.121 5,648.56 (7237.30) (1,588.74) S 3/26 High Cost 67157

ax Cost Unrealized Gain/Loss Estimated Annual Income 49,474.48 Accrued Interest 17,054.55 Yield 0.67% 7,279,499.92 7,347,849.77 (68,349.85) J.P. Morgan Cash 8 Fixed Income as a percentage of your portfolio - 88 % Page 8 of 33 SB1062192-F1 5685 EFTA01667557 GH ISLA INE MA XIV El. ACCT. For the Peri

. ("JPMCB") and its banking affiliates. Securities are offered by J.P.Morgan Securities LLC ("JPMS") and, to the extent noted below, cleared through J.P. Morgan Clearing Corp. ("JPMCC-). Neither JPMS. nor JPMCC is a bank and are each separate legal entities from its bank or thrift affiliates. Investment Products: Not FDIC

rgan Fund. please refer to disclosures on this statement concerning JPMorgan Funds for other important information. PRODUCT RELATED DISCLOSURE: THE JPNORGAN FUNDS OR THIRD PARTIES Shares of the funds referenced above are not bank deposits and are not guaranteed by any bank, government entity, or the FDIC

TERUNG 1.54 2,244.76 3.455.02 3,592.42 (137.40) HONG KONG DOLLAR 0.13 950.00 122.41 122.44 (0.03) Total Non-USD Cash Non-USD Short Term JP MORGAN CHASE BANK - CAD LONDON TIME DEPOSITS 0.5700% DATED 05/25/2012 MATURITY 06/01/2012 HELD BY LONDON TREASURY SERVICES Bearer 2529N9-9E-3 CAD 96.54 115,310.70 $3

TA01667546 SB1062192-F1 5675 EFTA01667547 GHISLAINE MAXWELL SB1062192-F1 5676 EFTA01667548 SB1062192-F1 5677 EFTA01667549 d JI'Morgan Chase Bank, N.A. 270 Park Avenue. New York, NY 10017,2014 Asset Account J.P. Morgan Team Table of Contents Page Paul Morns Banker Account Summary 2 Ja

realized Est. Annual Inc. Price Quantity Value Original Cost Gain/Loss Accrued Div. Yield US Large Cap Equity APACHE CORP 037411.10.5 APA J. P. Morgan 87.89 95.000 8,349.55 11,403.30 (3.053.75) 64.60 0.77% Page 4 of 33 SB1062192-F1 5681 EFTA01667553 OHISLAINE MAXWELL ACCT. For the Per

hod Description Per Unit Amount USD Proceeds USD Tax Cost USD Realized Quantity Local Value Local Value Local Value Gain/Loss USD Settled Sales/Matudtles/RedemptIons 3/21 Sale SUN HUNG KAI PROPERTIES ISIN HK0016000132 SEDOL (1,000.000) 14.419 14,418.61 (15.082.81) (664.20) S 3/23 High Cost 6

ur statement J.P. Morgan GHISLAINE MAXWF:I.I. ACCT. For the Period 9/I/I I to 9/31)/I1 Client News J.P. Morgan Securities LLC's (JPMS LLC) and J.P. Morgan Clearing Corp.'s (JPMCC) Net Capital and Net Capital Requirements At June 30, 2011, JPMS LLCs net capital of $11.3 billion exceeded the minimum regulatory net capi

es Page 4 of 4 SB1062192-F1 5113 EFTA01666985 GHISLAINE MAXWELL SB1062192-F1 5114 EFTA01666986 SB1062192-F1 5115 EFTA01666987 JI'Morgan Chase Bank, N.A. 270 I'ark Avenue, New York, NY 10017-2014 CHISIAINE NIANWEI.I. ACCT. For the Period 7/1/11 to 7/31111 Asset Account J.P. Morgan Team Tab

160.42 153.54 6.88 TURKISH URA NEW PRINCIPAL CURRENCY 0.60 19,500.00 11,627.21 11,816.03 (188.82) Total Non-USD Cash Non-USD Short Term JP MORGAN CHASE BANK - NOK LONDON TIME DEPOSITS 1.8000% DATED 07/27/2011 MATURITY 08/03/2011 HELD BY LONDON TREASURY SERVICES Bearer 2523K9-9L-3 NOK 18.53 628.323.83 $1

res Page 4 of 4 SB1062192-F1 5143 EFTA01667015 GHISLAINE MAXWELL SB1062192-F1 5144 EFTA01667016 SB1062192-F1 5145 EFTA01667017 S dia/ JI'Morgan Chase Bank, N.A. 270 Park Avenue. New York, NY 10017-2014 Asset Account J.P. Morgan Team Table of Contents Page Paul Morris Banker Account Summary 2 l

hod Description Per Unit Amount USD Proceeds USD Tax Cost USD Realized Quantity Local Value Local Value Local Value Gain/Loss USD Settled Sales/Matudtles/RedemptIons 6/20 Sale FIRST MAJESTIC SILVER CORP ISIN CA320261/1031 (3,100.000) 16.691 51,742.94 (41,251.64) 10,491.30 S 6/23 High Cost SE