To: David Stem From: Jeffrey Epstil Sent Fri 2/25/2011 11:40:51 AM Subject: Re: Deutsche Bahn call me again On Fri, Feb 25, 2011 at 6:35 AM, David Stem wrote: Begin forwarded message: From: "Slaughter. Lawrence" Date: 25 Februa 2011 11:31.11 To: ' " Subject: Re: Deutsche Bahn Following my specific question, they have stated that they have not contacted anyone nor spoken to anyone regarding this topic. The combination of travel, Chinese New Year and goal of having an in-person meeting means that no contact was made regarding this potential idea. I will send you an email shortly containing an outline for this concept --- Original Messa e From: David Stern To: Slaughter, Lawrence Sent: Fri Feb 25 11:27:47 2011 Subject: Re: Deutsche Satin Larry, Thank you for your mail. The first practical step is to find out exactly what your colleagues in HK or China did do. Since you gave them instructions three weeks ago I am sure they must have done something? This is critical for me to know, in order to ensure we keep the communication and reporting lines on the Chinese side in order. I will be in Beijing on Monday and Tuesday and it might be best if I speak to your colleagues directly? In addition your suggestion to send me the basic concept and parameters is certainly helpful. All the best EFTA_R1_00217154 EFTA01836335

David On 25 Feb 2011, at 08:09, Slaughter, Lawrence wrote: David, With regards to Deutsche Balm, I have asked my Beijing colleagues to stand down. They have stated that they have not spoken to anyone at CIC with regards this topic. Is this a practical case of where we could see if your approach makes sense? If so, what is a concrete next step? I could send you a few pages which sets forth the basic concept as well as some parameters. Let me know what you think. Regards, Larry Original Message From: Slaughter, Lawrence To: Sent: Mon Feb 21 17:18:22 2011 Subject: Re: China David, It was a very interesting session - thanks for your time. EFTA_R1_00217155 EFTA01836336

As a practical next step, let us keep talking about Deutsche Bahn. Regards, Larry Original Message From: To: Slaughter, Lawrence Sent: Mon Feb 21 16:11:40 2011 Subject: China Larry, Great pleasure meeting you. Thank you for your time. All the best David This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers, available at him Vs Vs plum uan c<mi pm/disclosures email. *********************************************************** The information contained in this communication is confidential, may be attorney-client privileged, may EFTA_R1_00217156 EFTA01836337

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