Epstein Secrets

Mtbelipcs Oro:14NC Imo" New VW 11201.38O EPSTEIN INTERESTS STATENERT PERICIO Senlecter 10.2006 notovek °cuter 31.20:6 Arent NT REneiR TARREYER MAHER On Pie LAST STA121lehrr WARW. 29. 2006 Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by

1a0 nn ABERCROMBIE & MGM CO-CL A ANT CASH 5.000 76.6500 383.250 3.500 0.9132 teSC RATING: SieCx OISECTOR MW liuMENSHAM RFCFAEWEE BATING, B DARPA* SASPONSOREDADR BM./ CASH 20.000 Unpriced REPSTG 6 SER L SHS Total Equities& Options 1381250 83.500 TOTAL EQUITIES 5383.250 53.500 '61106

investment companies. The average and median marketability discounts indicated by his analysis were 35.6% and 33.0%, respectively. • Maher Study". Maher's study reviewed restricted stock transactions from 1969 to 1973. The mean discount for these years was 35.4% and the median was 33.3%. • Trout Stu

n the new activity band market. 3 Originally used for military applications, with its participation in a Defense Advanced Research Projects Agency (DARPA) program. CONFIDENTIAL I WTAS LLC 9 EFTA00307404 EXHIBIT B Historical Financial Analysis ALIPHCOM - COMMON EQUITY VALUATION As of June 20, 20

investment companies. The average and median marketability discounts indicated by his analysis were 35.6% and 33.0%, respectively. • Maher Study". Maher's study reviewed restricted stock transactions from 1969 to 1973. The mean discount for these years was 35.4% and the median was 33.3%. • Trout Stu

n the new activity band market. 3 Originally used for military applications, with its participation in a Defense Advanced Research Projects Agency (DARPA) program. CONFIDENTIAL I WTAS LLC 9 EFTA00307303 EXHIBIT B Historical Financial Analysis ALIPHCOM - COMMON EQUITY VALUATION As of June 20, 20

investment companies. The average and median marketability discounts indicated by his analysis were 35.6% and 33.0%, respectively. • Maher Study". Maher's study reviewed restricted stock transactions from 1969 to 1973. The mean discount for these years was 35.4% and the median was 33.3%. • Trout Stu

n the new activity band market. 3 Originally used for military applications, with its participation in a Defense Advanced Research Projects Agency (DARPA) program. CONFIDENTIAL I WTAS LLC 9 EFTA00307202 EXHIBIT B Historical Financial Analysis ALIPHCOM - COMMON EQUITY VALUATION As of June 20, 20