Epstein Secrets

ll Metropolitan S 575.000 S 575.000 100% Germany cx Switzerland S I 300 000 S 1 150 000 all Wild Bunch S 1 050 000 S 1 150 000 91% Greece/Cyprus S 125,000 S 90,000 all Italia S 150,000 S 90,000 167% Hong Kong/Maeao S 50,000 S 35,000 allxpansat Hungary w/Bulgaria w/Bulgaria all

oatia/Slovania w/Bulgaria w/Bulgaria all Czech Republic w/Bulgaria w/Bulgaria all Domestic all Dominican Republic w/Mexico w/Mexico all Ecuador w/Mexico w/Mexico all France S 700.000 S 575.000 all Metropolitan S 575.000 S 575.000 100% Germany cx Switzerland S I 300 000 S 1 150 0

ll Metropolitan S 575.000 S 575.000 100% Germany cx Switzerland S I 300 000 S 1 150 000 all Wild Bunch S 1 050 000 S 1 150 000 91% Greece/Cyprus S 125,000 S 90,000 all Italia S 150,000 S 90,000 167% Hong Kong/Maeao S 50,000 S 35,000 allxpansat Hungary w/Bulgaria w/Bulgaria all

oatia/Slovania w/Bulgaria w/Bulgaria all Czech Republic w/Bulgaria w/Bulgaria all Domestic all Dominican Republic w/Mexico w/Mexico all Ecuador w/Mexico w/Mexico all France S 700.000 S 575.000 all Metropolitan S 575.000 S 575.000 100% Germany cx Switzerland S I 300 000 S 1 150 0

ria S 350,000 S 300,000 all SPI S 350,000 S 300,000 117% Scandinavia S 375,000 S 325,000 all Svcnsk S 350,000 $ 325,000 108% Greece/Cyprus S 125000 S 90.000 all Italia S 150.000 S 90.000 167% Middle East S 150.000 5 100.000 alltunnet Italia S 150.000 5 100.000 150% Swit

ral America w/Mexico wlMcxico all Chile w/Mexico w/Mexico all Colombia w/Mexico w/Mexico all Dominican Republic w/Mexico w/Mexico all Ecuador w/Mexico w/Mexico all Latin America Sat w/Mexico w/Mexico Peru/Bolivia w/Mexico w/Mexico all Venezuela w/Mexico w/Mexico all CroatlaiS

AS. Cuba Apr. 6, 1904 Mar. 2, 1905 33 Stat. 2265.'1. Dec. 6, 1904 Mar. 2, 1905 33 Stat. 2273. Jan. 14, 1926 June 18, 1926 44 Stat. 2392.. • Cyprus June 17, 1996 Sept. 14, 1999 Czech Republic July 2, 1925 Apr. 29, 1935 Mar. 29, 1926 Aug. 28, 1935 44 Stat. 2367. 49 Stat. 3253. Denmark Ju

5 Mar. 29, 1926 Aug. 28, 1935 44 Stat. 2367. 49 Stat. 3253. Denmark June 22, 1972 July 31, 1974 25 UST 1293;;; Dominica Dominican Republic Ecuador Oct. 10, 1996 May 25, 2000 June 19, 1909 Aug. 2, 1910 36 Stat. June 28, 1872 Nov. 12, 1873 18 Stat. 199. ,„ May 29, 1941 55 Stai. 1196.4., Se

bo Verde. Cameroon, Cayman Islands. Chile, China. Christmas Island, Clipperton Island, Cocos (Keeling) Islands, Coral Sea Islands, Croatia, Curacao, Cyprus, Czech Republic, Dhekelia, Djibouti. Dominica, Estonia, Falkland Islands (Islas Malvinas), Faroe Islands. Fiji, French Guiana, French Polynesia, Fr

f the, Congo, Republic of the, Cook Islands, Costa Rica, Cote d'Ivoire, Crimea, The, Cuba, Cyprus Turkish Cypriot Administered, Dominican Republic. Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Ethiopia. Ghana. Grenada, Guatemala. Guinea, Guinea- Bissau, Guyana. Haiti. Honduras, India, Iran, I

ria S 350,000 S 300,000 all SPI S 350,000 S 300,000 117% Scandinavia S 375,000 S 325,000 all Svcnsk S 350,000 $ 325,000 108% Greece/Cyprus S 125000 S 90.000 all Italia S 150.000 S 90.000 167% Middle East S 150.000 5 100.000 alltunnet Italia S 150.000 5 100.000 150% Swit

ral America w/Mexico wlMcxico all Chile w/Mexico w/Mexico all Colombia w/Mexico w/Mexico all Dominican Republic w/Mexico w/Mexico all Ecuador w/Mexico w/Mexico all Latin America Sat w/Mexico w/Mexico Peru/Bolivia w/Mexico w/Mexico all Venezuela w/Mexico w/Mexico all CroatlaiS

Aruba, Australia, Austria, Barbados, Belgium, Bermuda, Brazil, Bulgaria, Canada, Cayman Islands, Chile, China mainland, Hong Kong, Taiwan, Colombia, Cyprus, Czech Republic, Denmark, Dominican Republic, Ecuador, El Salvador, Finland, France, Germany, Greece, Grenada, Guatemala, Hungary, Iceland, India,

Brazil, Bulgaria, Canada, Cayman Islands, Chile, China mainland, Hong Kong, Taiwan, Colombia, Cyprus, Czech Republic, Denmark, Dominican Republic, Ecuador, El Salvador, Finland, France, Germany, Greece, Grenada, Guatemala, Hungary, Iceland, India, Indonesia, Ireland, Italy, Jamaica, Japan, Latvia, Lith

As%of 2009 Budget World Surplus / Total Deficit ($B) As % of World Gross Unemploy- Deficit 2009 ment Rate YIY (pps) Tunisia Ethiopia Colombia Cyprus Poland Spain Kenya Norway Ghana Bolivia Sweden Brazil Switzerland Latvia Malawi Malaysia Denmark Gabon Finland Turkey Czech Republic Slovenia Slovaki

lus/ WorldGross Unemploy- Y/Y Rank Country Outstanding ($B) YN Total 2009 2005 Change YIY Total Deficit ($B) Deficit ment Rate (pps) Zambia Macedonia Ecuador Lithuania Peru South Africa Paraguay Venezuela New Zealand Thailand Namibia Tanzania Senegal Mozambique Romania Uganda Bulgaria Nigeria Angola Camero

n Protocol Canada Extradition Protocol Cayman Islands • Chile Colombia Congo Congo • Congo Congo' Costa Rica Croatia " Cuba Cuba Cuba Cyprus Czech Republic Czech Republic Denmark Dominica Dominican Republic Ecuador Ecuador Supplementary Egypt Signed; March 1, 1933 June 8. 1972 J

ngo Congo • Congo Congo' Costa Rica Croatia " Cuba Cuba Cuba Cyprus Czech Republic Czech Republic Denmark Dominica Dominican Republic Ecuador Ecuador Supplementary Egypt Signed; March 1, 1933 June 8. 1972 June 3, 1996 June 10, 1997 May 14, 1974 September 4, 1990 January 8, 1998 Ma

weight. • Credit - We OW covered bonds in the Euro periphery over senior bank bonds and subordinated vs senior bank bonds in the core. • Currencies - Cyprus to have minimal further impact on EUR, but a ECB rate cut would push it a few cents lower versus the dollar. • Commodities - Stay long Brent and shor

c Outlook Summary 2011 Real GDP % over a year ago 2012 2013 2014 3Q12 The Americas United States Canada Latin America Argentina Brazil Chile Colombia Ecuador Mexico Peru Uruguay Venezuela Asia/Pacific Japan Australia New Zealand Asia ex Japan China Hong Kong India Indonesia Korea Malaysia Philippines Singa