Mortimer B. Zuckerman and Related Entities Appendix C -Schedule of Private Capital Money Movements - December 31, 2012 Date Transaction Description 9.0.2 MBZ 1996 Trust (GST Exempt) M821996 Trust (GST Non-Exempt) MBZ 1983 Family Trust MBZ CRUT 6/7/2012 Quellos Private Capital 2002, LP. (US Mature) - Distribution 518,535 6/7/2012 Quellos Private Capital 2002, L.P. - Distribution - 115,079 115,079 6/7/2012 Quellos Private Capital 2002, L.P. - Investment - -3,165 - 4,165 6/7/2012 Quellos Private Capital 2002, LP. (US Mature) - Investment -14,267 - - 6/7/2012 Quellos Private Capital II, L.P. - Distribution 300,030 75,030 75,030 6/7/2012 Quellos Private Capital II, L.P. - Investment -22,438 -5,610 -5410 6/12/2012 Chase Capital Partners Private Equity FF IL LTD - Distribution 18,699 - 6/13/2012 Generation Capital Partners II, L.P. - Distribution 14,405 - 6/18/2012 DST Global III, LP. -Distribution - -500,030 6/22/2012 allot Capital Partners I, LP. - Investment 47,930 - 6/Y//2012 CVC Capital Partners Asia Pacific II, L.P. - Distribution 58,636 - 6/28/2012 Quellos Co-Investment Fund II, LP.- CRT Series -Distribution - - 1,525,072 6/28/2012 Quellos Co-Investment Fund II, LP. • Distribution 1,472,856 883,714 883,714 294,571 6/28/2012 Quellos Co-Investment Fund, LP. - Distribution 186,744 411,735 549084 115360 6/28/2012 Quellos Co-Investment Fund, L.P. - CRT Series -Distribution - - - 1,635,511 Total (Investments)/Distributions as of June 30, 2012 92,495,670 91,476,753 91.002,188 $521,845 $3,160,583 7/9/2012 Court Square Capital Partners LP. (CVC Eq.Panners L.P.) - 4,756 - 7/12/2012 GS Vintage Fund, LP. - Distribution - 226,065 7/12/2012 Israel Infrastructure Fund I-C LP. - Investment - -137,500 -137,500 7/13/2012 Quellos Private Capital 2002, L.P. - Distribution - 29,739 29,739 7/13/2012 Gabriel Capital Investment 2006 - Distribution 926,985 - 7/15/2012 Quellos Co-Investment Fund III, L.P.- CRT Series- Investment - - -2,108,000 7/16/2012 Legacy Capital, LP. - Investment - •547210 7/17/2012 Greycroft Partners IL LP. - Investment -150,030 - 7/20/2012 Morgan Stanley Credit Partners Offshore, LP. • Distribution - - 150,575 7/20/2012 Morgan Stanley Credit Partners Onshore, LP. - Distribution - 60,231 7/26/2012 Quellos Co-Investment Fund III, L.P. - Investment -1,2B8,030 •964000 -1,288,000 -322,000 7/30/2012 Morgan Stanley Credit Partners Onshore, LP. - Distribution 60,231 - Total (Investmenti)/Disuibutions as of July 31, 2012 (S444,028) (91.073,761) (61,775,479) (S203,696) (51.957.425) MorganStanley SmithBarney 97 EFTA00283549

Mortimer B. Zuckerman and Related Entities Appendix C -Schedule of Private Capital Money Movements - December 31, 2012 Dale Transaction Description MB2 MI12 1996 Trust (GST Exempt) ta21996Trust (GST Non-Exempt) M1I112 1983 Family Trust 1102 MUT 8/6/2012 CVC Capital Partners Asia Pacific II, L.P. • Investment -14,105 8/6/2012 Court Square Capital Partners LP. (CVC Eq.Partners L.P.) - 4,756 8/9/2012 Generation Capital Partners II, L.P. - Distribution 100 - 8/15/2012 Quellos Co4nvestment Fund III, L.P. - CRT Series - Investment - - -1,181,000 8/16/2012 VSSComunications Partners IV, LP. - Distribution - 463,755 463,755 8/21/2012 Morgan Stanley Credit Partners Onshore, LP. -Distribution 138,693 138,693 8/21/2012 Morgan Stanley Credit Partners Offshore, LP. - Distribution - - 346234 8/30/2012 Quellos Co-Investment Fund Ill, L.P. - Investment -772533 -579,400 -772,533 -193,133 8/30/2012 Legacy Capital, LP. - Investment - -1,1Aoss Total (Investmentt)/Distributions as of August 31, 2012 (4643,089) (S115,645) (SI.293,170) (5193,133) (5834,266) 9/6/2012 Heartland Industrial Partners, L.P. - Distribution 141,340 9/24/2012 Valor Equity Nutters II, LP. - Investment -75,030 9/28/2012 Patrice!Ptivate Investment Oub Ill, L.P. - Distribution 75,557 - 9/28/2012 GRIN Capital Partners I, LP. - Investment -50,000 - 9/28/2012 DST Global III, LP. -Distribution • 1,091.072 Total (Investment)/Distributions as of September 30, 2012 591,897 41.091,072 10/5/2012 Court Square Capital Partners LP. (CVC Eq.Partners L.P.) - 7,610 10/10/2012 Morgan Stanley Credit Partners Offshore, LP. - Investment -292.039 10/11/2012 Valor Equity Partners II, LP. - Distribution 121,790 10/11/2012 Morgan Stanley Credit Partners Onshore, LP. - Investment -116,816 -116,816 10/23/2012 DST Global III, LP. - Distribution 6,250 10/24/2012 Court Square Capital Partners LP. (CVC Eq.Partners L.P.) - 659,216 - 10/24/2012 Francisco Partners, L.P. - Distribution 42,599 10/24/2012 Morgan Stanley Credit Partners Offshore, LP. • Distribution 137,041 10/24/2012 Morgan Stanley Credit Partners Onshore, LP. - Distribution 54,817 54,817 Total (investments)/Distributions as of October 31, 2012 3769,216 ($55,749) ($154,998) 11/6/2012 Stickman Real Estate Fund IV, LP. -Distribution 280685 11/9/2012 Court Square Capital Partners LP. (CVC Eq.Partners LP.) - 498,38 11/30/2012 Stickman Real Estate Fund II, L.P. - Distribution 459,216 11/30/2012 Francisco Partners, L.P. -Distribution 66,835 Total tinvestment0/Distributions as of November 30, 2012 S565,033 $459,216 9280,685 MorganStanley SmithBarney 98 EFTA00283550

Mortimer B. Zuckerman and Related Entities Appendix C -Schedule of Private Capital Money Movements - December 31, 2012 Date Transaction Description MBE MI12 1996 Trust (GST Exempt) MBZ1996 Trust (GST Non-Exempt) MBE -1983 Family Trust MBE CRUT 12/4/2012 Greycroft Partners It. LP. - Investment -150,000 12/11/2012 Quellos Financial Ventures II, LP. -Distribution 71,062 - 12/12/2112 Israel Infrastructure Fund I-C LP. - Investment -37,500 - 12/13/2012 Legacy Capital, LP. - Investment -1,537,296 12/19/2012 Israel Infrastructure Fund I-C LP. - Investment - 47,500 12/19/2012 VSS Comunications Partners IV, LP. - Investment -51,437 - 12/20/2112 VSS Comunications Partners IV, LP. - Investment - -S1.437 12/21/2012 Quellos Co-Investment Fund, LP. - Distribution 130,705 285379 384311 93,742 12/21/2012 VSS Comunications Partners IV, LP. -Distribution - 37,164 37,164 12/21/2012 Quellos Co-Investment Fund, L.P. - CRT Series - Distribution - - 999,893 12/21/2012 Quellos Co-Investment Fund III, LP. - Investment -895,360 -671,520 495360 -2M,840 12/21/2012 Quellos Co-Investment Fund III, L.P.- CRT Series -Investment - - -1,006,510 12/21/2012 Court Square Capital Partners LP. (CVC Eq.Partners L.P.) - 22,514 12/27/2012 Quellos Private Capital 2002, L.P. - Distribution - 73,655 73655 12/27/2012 Quellos Private Capital 2002, LP. (US Mature) - Distribution 405,948 12/27/2012 Quellos Private Capital II, L.P. - Distribution 125,337 31,335 31.335 12/27/2012 Patrice( Private Investment Club III, L.P. - Distribution 33,632 12/28/2012 Gabriel Capital Investment 2006 - Distribution 696,739 12/28/2012 Generation Capital Partners II, L.P. - Distribution 185,879 12/31/2012 Even-ore Venture Partners, LP. - Distribution 135,152 - 12/31/2012 Quellos Co-Investment Fund II, LP.- CRT Series • Distribution - - 2,894,315 12/31/2112 Quellos Co-Investment Fund II, LP. -Distribution 2356,770 1,414,062 1.114,062 471,354 Total (lnvestnsents)/Distributions as of December 31, 2012 53,118,378 51,063,938 (5617,221) 5364,411 $2.887,698 MorganStanley SmithBarney 99 EFTA00283551

Mortimer B. Zuckerman and Related Entities Appendix D -Schedule of Transfers to Selected Investments - December 31, 2012 Date US News and World Repat-Prime Axis Amount 2007 Total Investmenis in US News and World Report - Prime Axis for 2007 -5,560,030 2008 Total investment in US News and World Report - Prime Axis for 2008 -934,513 Total (investments)/Distributions in US News and World Report - Prime Axis for 2012 90 Date US News and World Report Amount 2002 Total Investments in US News and World Report for 2002 -Z,176,332 2003 Total Investments in US News and World Report for 2003 -61,900,030 2034 Total Investments in US News and World Report for 2004 44000,030 2005 Total Investments in US News and World Report for 2005 43,500,000 2036 Total Investments in US News and World Report for 2006 48.500,000 2007 Total Investments in us News and World Report for 2007 41500,000 2038 Total Investments in us News and World Report for 2008 40,500,000 2039 Total Investments in US News and World Report for 2009 45,150,000 2010 Total Investments in us News and World Report for 2010 .12,725,000 2011 Total Investments in us News and World Report for 2011 4700,000 2/27/2012 Investment in US News and World Report -800,000 4/5/2012 Investment in US News and World Report -750,000 6/21/2012 Investment in US News and World Report -700,000 Total (investments)/Distributions in US News and World Report for 2012 (5280,000) MorganStanley SmithBarney 100 EFTA00283552

Mortimer B. Zuckerman and Related Entities Appendix D -Schedule of Transfers to Selected Investments - December 31, 2012 Date Publishing - Daily News Amount 2006 Total Investments in Publishing - Daily News for 2006 -18,060,030 2007 Total Investments in Publishing - Daily News for 2007 -30,860,030 2008 Total Investments in Publishing - Daily News for 2008 -73,972800 2009 Total Investments in Publishing - Daily News for 2009 -85,986,624 2010 Total Investments in Publishing - Daily News for 2010 -42,067,853 2011 Total Investments in Publishing - Daily News for 2011 -40,226,326 5/31/2012 Investment in Publishing - Daily News -2,500,000 7/2/2012 Investment in Publishing - Daily News -2.000,000 7/8/2012 Investment in Publishing - Daily News -2.000,000 8/8/2012 Investment in Publishing - Daily News -2.000,000 9/12/2012 Investment in Publishing - Daily News -3,000,000 10/31/2012 Investment in Publishing - Daily News -3,000,000 11/14/2012 Investment in Publishing - Daily News 4,800,000 12/12/2012 Investment in Publishing - Daily News -2.000,000 12/21/2012 Investment in Publishing - Daily News -2.900,003 Total (Investments)/Distributions in Publishing - Daily News for 2012 (323,200,000) Date MBZ Printing. LP ADMITS/ 2006 Total Investments in MBZ Printing, LP for 2O6 -300,563 2007 Total Investments in MBZ Printing, LP for 2O7 -2.323,00 Total (Investments)/Distributions in MBZ Printing. LP for 2012 B0 MorganStanley SmithBarney 101 EFTA00283553

Mortimer B. Zuckerman Appendix E - Schedule of Secured Debt - December 31, 2012 Lender Collateral Remaining Principal Balance Loan Date Type Interest Rate CommenIs Bank of America BR. Inc • "Lazy 2' Motor Yacht S 14,791507 12/11/2007 Balloon due 6/30/2013 0.94% Quarterly payment is interest only. Loan origination fee of 0.25% (337,079.17). Monthly mortgage payment based on Bank of America 950 Fifth Avenue, New York, NY 10021 23550,610 9/20/2012 Balloon due 11/20/2018 2.70% 30-year amortization Penthouse Apt and S.R.N10 and the 12th and 13th Floor Duplex Bank of America 2i Drew Lane, East Hampton, NY 11937 19,960,171 9/15/2012 Balloon due 11/15/2018 2.70% Monthly mortgage payment based on 30-year amortization Bank of America 17 East 75th St. New York, NY 10021 5,302,759 9/27/2012 Balloon due 11/27/2018 2.70% Monthly mortgage payment based on 30-year amortization Bank of America 4 Three Mile Harbor Drive, East Hampton, NY 11937 793,653 9/14/2012 Balloon due 11/14/2018 2.87% Monthly mortgage payment bawd on 30-year amortization Bank of America 418 Wright, Road, Aspen, CO81611 7,181,751 10/5/2011. Lean Balloon due 1/5/2017 3.3% Modified modified on rate: 230% Monthly mortgage payment based on 18/4/1/ 30-year amortization Total 71,581,450 MorganStanley SmithBarney 102 EFTA00283554

Mortimer B. Zuckerman Appendix F - Schedule of unsecured Debt - December 31, 2012 lady M.s4 Dsie 0660116.60•6 Sant Lae Insert). 1.1.1 Cessesb P•greCarler S Z411123) 413X9 Dawn, 02.I. , 0) S 094 Otisseilectwoorti 010 runt e•••••••••••10610,0/666001010kr Ihmess ma refelnaItIlPitt AI «I.,.., 131010 06600166•••••06 000 0006 be /444.110 apal tvralt••14,1940...•.d.sna4•MAIIIIIIIWthaditSiale• 1274.04 to Sunni 0.•••••04)100•64.646.••••••00) 00 a ••••• 6016 A.66•6100•••••003.6104 (66060 04. VO/3600nart 060 4 Of 340•Trati 10/316mtrati 14•616 000 7/27/30 pavaLen 0500 616/30 pay nmt )060 12M30 p. ^n 42360 6410,00esei 040 IVINM•Hperrati GS16). 0010 jperezei WOOS. USN/ MI tureen OA. 0)01/M2terrati Cat ktlgul I.7(601 limlur Ann° 10.0003 ITS 1143 060iced a1 LISOR • 1010 I60 • 1100 altisve V011 0174 ITS I(LI* l'106 • 40 10 , 41. • 1101.1 )540 60 151% 114 l'106 • 40 10 , 41. • 1101.1 14033 130 Iii 0141 Jan anorn 0060 130 LW 41,16•0 4•66 1664 ISM )M 664,0140)4•0 4tC*3 ISM 13* 7/34/ Ild0v 42.3.66 ISM 64 1/1401 dr.) 4.0 DOM, ITS 0/301libas •Sysa WW1 ITS 46 7 11112 bash WW1 ITS 46 7/6012Jon 4•4.n WOOS) 1616 mor, 0101:406406, 36066 1616 )4 014/04•0406, 36066 160 MO VIVI:dins dasto SAI*3 130 360 )0.0013 tbas •Sysa )11603 150 44 10,013tbas •Sysa W966 150 LW! 12612/13tbas utsa la 01 ISI• IF 00:01) (s den Oak Mt JCMIMIMI kv. • 03. 0 0000•016.1•20 ••••••04 paten Sink NI An. 4064 iSS.001.• 14,011> 011•0106. 04004 SIP) 046 060•0430%6606 4010 10104.00100 2010E Ln. MVO barmaid 471% ihinOLVIA114 1026•0•0046. 10 1103.60 3/)13110 WS StS00 My. llo• crh CINVII•11721 • LIM. • SAC% 2/60400 6.00000-404.00.000•60'06 Ins 0106 4..• 44 1,14 Thal 31771050 S OHM S 3944 MorganStanley SmehBamey 103 EFTA00283555

Mortimer B. Zuckerman Appendix G - Schedule of Loan Guarantees - December 31, 2012 Amount Guaranteed as of Inleret Debtor 12/31/2012 Beneficiary Interest Rate 12/01 - 12/31 Comments USN Aviation • the borrower was changed to M. Zuckerman in 11/2007 $ 29,260,862 Bank of America Swap rate 5.37% (4.67% • 70bps) Actual rate of 1.04% 133,944 11/1/14 maturity. LIBOR • 70bps Swap matures 11/3/14 at 4.67% • 70bps ZAS, Inc. - the borrower was changed to Waldorf Flight Services, LLC in 11/2036 4565,120 Bank of America Swap rate 5.17 %(4.47% • 70bps) Actual rate of 1.04% 7,135 12/1/I3 maturity. LIBOR • 70bps Swap matures 12/2/13 at 4.47% • 70bps Daily News, L.P. - NJEDA 7,800)303 NJ EDA Ground lease Jersey Gty land lease guaranty to NJEDA Daily News, L.P. - HUD 1,600,000 HUD MBL guarantee pursuant to HUD loan Total MBZ Loan Guarantees 40,226,082 141,079 MorganStanley SmithBarney 104 EFTA00283556

Mortimer B. Zuckerman Appendix H - Schedule of Contingent Obligations -December 31, 2012 Debtor Amount bus Comments Liberty Mutual S 15,937,851 Gligroup (1) L/C issued for Liberty Mutual insurance A-I.G. 777,971 Gligroup (1) L/C Sued for A.I.G. NYP Ventures LLC 2.674.350 Gligroup (1) L/C issued for DN & USN new alike space- 4NYP Citigroup ( Derivatives Division) 4,000,000 Gligroup Valued the Basic Collateral Required under the Swap contract 5,800,000 atigrmP Additional Collateral Required under the Swap agreement Krell Payments 200)000 Bank of America L/C issued as part at guaranty issued for Sm. Paymenb Total NIBZ Contingent Obligations S 2%390,172 (1) L/ts and Swap collateralized by investments with 85% loanable advance value. MorganStanley SmithBarney 105 EFTA00283557

Mortimer B. Zuckerman MBZ Personal Expenses - As of December 31, 2012 Category Description January 2012 February 2012 March 2012 April 2012 May 2012 June July 2012 2012 August 2012 September 2012 October 2012 November 2012 December 2012 OVERALL TOTAL INFLOWS Uncategorized $ - $ - $ - $ - $ - $ - $ - $ - $ - S - $ 120 S - $ 120 $ - $ - $ - $ - - $ - - $ - $ - S - $ - S - $ Interest Inc $ 125 $ 130 $ 128 $ 101 $ 100 $ 64 $ 37 $ 29 $ 15 S 16 $ 12 S 26 $ 783 Salary Salary:BXP $ 73,117 $2,776,963 $ 77,895 $ 76,963 $ 76,963 $ 115,445 $ 79,263 $ 76,963 $ 76,963 S 76,963 $ 115,445 S 76,963 $ 3,699,906 TOTAL Salary $ 73,117 $2,776,963 $ 77,895 $ 76,963 $ 76,963 $ 115,445 $ 79,263 $ 76,963 $ 76,963 S 76,963 $ 115,445 S 76,963 $ 3,699,906 Tax Refund Tax Refund:AR $ - $ $ - $ - $ - $ - $ - $ - $ - S - $ 4,427 S $ 4,427 Tax Refund:CA $ - $ $ - S. 6,776 $ - $ - $ - $ - $ - S - $ 645 S $ 7,421 Tax Refund:CO $ 3,334 $ $ - $ - $ - $ - $ - $ - $ - S - $ 2,342 S $ 5,676 Tax Refund:IL $ - $ $ 26,540 $ - $ - $ - $ - $ - $ - S - $ - S $ 26,540 Tax Refund:Indiana $ 1,409 $ $ - $ - $ - $ - $ - $ - $ - S - $ - S $ 1,409 Tax Refund:MD $ - $ $ - $ - $ - $ - $ - $ - $ - S - $ - S 586 $ 586 Tax Refund:Missouri $ 3,741 $ $ - $ - 5 - $ - $ - 5 - $ - S - $ - S $ 3,741 Tax Refund:NJ $ - S. 1,328 $ - $ - $ - $ - $ - $ - $ - S - $ - S $ 1,328 Tax Refund:NM $ - $ $ - $ 37,088 $ - $ - $ - $ - $ - S - $ - S - $ 37,088 Tax Refund:NY $ - $ $ - $ - $ - $ - $ - $ - $ - S - $ - S 486,087 $ 486,087 Tax Refund:OH $ - $ $ 5,475 $ - $ - $ - $ - $ - $ - S - $ - S - $ 5,475 Tax Refund:OK $ - $ $ 1,184 $ - $ - S. - $ - $ - $ - S - $ - S - $ 1,184 Tax Refund:VA $ - $ $ - $73,473$ - $ - $ - 5 - $ - S - $ - S - $ 73,473 Tax Refund:Wisconsin $ 2,324 $ $ - $ - $ - $ - $ - 5 - $ - S - $ - S - $ 2,324 TOTAL Tax Refund $ 10,808 $ 1,328 $ 33,199 $ 117,337 $ $ $ $ $ S $ 7,414 S 486,674 $ 656,759 TOTAL INFLOWS $ 84,050 $2,778,421 $ 111,222 $ 194,401 $ 77,064 $ 115,509 $ 79,300 $ 76,992 $ 76,978 S 76,979 $ 122,990 S 563,663 $ 4,357,568 OUTFLOWS Uncategorized $ - $ $ $ $ $ - $ $ $ 7,404 S $ S $ 7,404 200 E. 65th Street 200 E. 65th Street:Rent $ (65,000) $ $ $ $ $ - $ $ $ S $ S $ (65,000) TOTAL 200 E. 65th Street $ (65,000) $ $ $ $ $ - $ $ $ S $ S $ (65,000) Accounting $ 5,850 $ 16,013 $ 38,985 $ S. 62,040 $ $ $ 40,750 S $ S $ 163,638 Annual Membership Fee $ 125 $ - $ $ S. 489 $ $ $ - S $ S $ 614 Art Art:Appraisal 1,162 $ 7,600 $ $ $ S $ S $ 8,762 Art:Conservation $ $ $ 1,622 $ - 1,849 $ - $ $ $ S $ 5 $ 3,470 MorganStardey SmithBarney 106 EFTA00283558

Mortimer B. Zuckerman MBZ Personal Expenses - As of December 31, 2012 Category January February March April May June July August September October November December OVERALL Description 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 TOTAL TOTAL Art Art EH Auto Auto:Aspen Auto Auto:EH Auto:EH Auto Auto:Parking Auto:Parking Ticket Auto:Registration TOTAL Auto Bank Charge Bank Charge:MBZ Printing TOTAL Bank Charge Bike Bike:PAZ TOTAL Bike $ $ $ 1,622 $ 1,162 $ 1,849 $ 7,600 $ $ - S $ 12,232 $ $ $ - - $ $ 40 40 $ 2,591 $ 124 $ 370 $ (1,100 $ 661 5 $ $ $ - S 113 $ S 160 $ 2,916 $ S. - $ 2,210 $ - $ - S. $ $ $ 74 S - $ S - $ 2,284 $ 110 $ 2,680 $ 140 $ 575 $ 83 5 868 $ 354 $ 138 $ 2,289 $ 4,120 $ 94 $ 1,132 $ 12,583 $ $ - $ - $ 71 $ 28 $ $ $ $ - S - $ S - $ 99 $ $ - $ 65 $ - $ - S. $ $ $ - S - $ S - $ 65 $ $ - $ - $ - $ - S. $ $ $ 147 S - $ S - $ 147 $ 2,701 $ 2,804 $ 2,786 $ (458) $ 772 5 868 5 354 $ 138 $ 2,509 S 4,233 $ 94 S 1,292 $ 18,093 $ $ $ $ $ S. 35 5 $ $ S $ s $ 35 $ S $ $ S s 102,750 $ $ $ S $ S $ 102,750 $ $ $ $ $ 5 102,785 S. $ $ S $ S $ 102,785 $ - S. $ - $ $ 2,709 S. S. - $ $ - S $ S $ 2,709 $ 2,745 $ 4,364 $ (100) $ $ 625 $ S. 7,237 $ $ 757 S $ S a 15,628 $ 20745 5 4,364 $ (100) 5 $ 3.334 5 5 7,237 $ $ 757 $ $ S $ 18,337 Boston Prop Charges Boston Prop Charges:Computer 75 $ - - - 25 $ 25 $ - - $ - S - $ - S - $ 125 Boston Prop Charges:Entertaining $ 1,255 $ 1,034 $ 628 $ 420 $ 364 $ 700 $ 586 $ 635 $ 508 $ 557 $ 573 S 546 $ 7,806 Boston Prop Charges:Reimbursement $ (6,901) $ (22,339) - $ (1,500) $ (1,500) $ (1,500) S. (1,500) (1,500) $ (1,500) S (74,623) $ (1,500) S (1,500) (115,864) Boston Prop Charges:Telephone 2,304 S. 650 S. 1,624 $ 1,573 $ 1,475 $ 2,642 S. 1,456 471 $ 2,659 S 1,532 $ 819 S 1,620 $ 18,826 Boston Prop Charges:Travel - $ - S. 1,426 $ - - - - - $ 93,648 S 73,123 $ 71 S - $ 168,268 TOTAL Boston Prop Charges (3,267) $ (20,656) $ 3,677 $ 493 365 $ 1,867 $ 542 (394) $ 95,315 $ 589 $ (37) S 666 $ 79,161 Clothing Clothing:AJZ 35 $ - $ 923 $ 724 - $ 1,542 $ 900 - $ 2,056 S 546 $ 309 S 512 $ 7,547 Clothing:Cleaners $ - S. - $ - S. 256 $ 455 $ - S. - $ - $ - S 160 $ S - $ 872 Clothing:Cleaners EH $ - S. - $ - S. - $ 348 $ - S. - $ - $ - S - $ S - $ 348 Clothing:Cleaners NYC $ - $ - $ - $ 2,348 $ 2,674 $ 2,151 $ 2,110 $ 1,039 $ 1,559 $ 3,131 $ S 7,118 $ 22,130 Clothing:MBZ $ 9,737 $ 216 $ 8,618 $ - $ 2,748 $ 15,322 $ 226 $ - $ - S - $ S 9,928 $ 46,825 Clothing:RZ $ - S. 509 $ 132 $ 4,109 $ 1,810 $ 760 $ 2,552 $ - $ 688 S 325 $ 1,455 $ 4,447 $ 16,788 MorganStantey SmithBarney 107 EFTA00283559

Mortimer B. Zuckerman MBZ Personal Expenses - As of December 31, 2012 Category Description January 2012 February• 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 OVERALL TOTAL TOTAL Clothing $ 9,772 725 $ 9,703 7,437 $ 8,036 $ 19,776 $ 5,788 $ 1,039 $ 4,303 $ 4,162 $ 1,764 S 22,006 $ 94,510 Computer 82 117 57 108 $ 57 $ 57 $ 57 $ 57 $ 57 S 57 $ 2,060 S 57 $ 2,823 Contribution Contribution:Charitable 33,000 25,000 25,350 62,000 $ 22,750 $ 107.411 $ 19,600 $ 10,000 $ 19,000 S 54,000 $ 55,000 S 113,500 $ 546,611 Contribution:Not Deductible 1,350 28,200 $ 15,000 $ - $ 150 $ $ S 2,500 $ S - 47,200 TOTAL Contribution $ 34,350 $ 25,000 $ 53,550 $ 62,000 $ 37,750 $ 107,411 $ 19,750 $ 10,000 $ 19,000 S 56500 $ 55,000 S 113,500 $ 593,811 Daily News Charges Daily News Charges:attertaining $ 276 $ $ 206 $ 271 $ 396 $ $ 82 $ - $ 336 S $ 177 S $ 1,743 Daily News ChargesSubscriptions S. 737 $ - $ 322 $ 764 $ 381 $ 39 $ 500 S 171 $ 316 $ 440 $ 3,671 Daily News Charges:Travel $ (346) $ $ - $ - $ - $ 157 $ $ $ (189) TOTAL Daily News Charges $ 276 $ 737 $ (140) $ 592 $ 396 $ 764 $ 463 $ 196 $ 836 S 171 $ 493 S 440 $ 5,225 Dues $ 12,497 - $ 1,139 $ 425 $ 11,803 $ 1,455 $ 3,475 $ $ 408 S - $ 7,259 S - $ 38,461 Entertainment $ 3,070 $ 5,192 $ 3,538 $ 1,987 $ 7.514 $ 2,860 $ 1,998 $ 899 $ 3,630 S 3,918 $ 1,554 S 1,752 $ 37,912 Entertainment:950 Fifth $ - S. 1,806 $ 1,917 $ 794 $ 3,523 $ 2,854 $ $ - S 2,657 $ 2,199 S 4,868 $ 20,617 EntertainmentEH $ - $ - $ - $ $ - $ - $ 64 $ 6,782 S 3,113 $ 2,168 S 3,076 $ 15,203 Entertainment:MP $ - $ - - $ $ 197 $ 853 $ 407 $ $ - S - $ - S - $ 1,458 TOTAL Entertainment $ 3,070 $ 6,998 $ 5,455 $ 2,780 $ 11,234 $ 6,567 $ 2,406 $ 963 $ 10,412 S 9,688 $ 5,921 S 9,696 $ 75,190 Fee $ $ $ $ $ 965 $ $ $ $ 397 S $ S $ 1,362 Fine Art Fine Art:Appraisal $ $ $ - $ - $ $ 6,003 $ $ - $ - S $ - S 1,500 $ 7,503 Fine Art:Documentation $ 150 $ $ - $ - $ $ - $ $ - $ - S 990 $ - S $ 1,140 Fine Art:Framing $ $ $ - $ - $ 925 $ 517 $ $ - $ - S $ - S $ 1,443 Fine Art:Moving $ $ 1,099 $ - $ - $ S. - S. 639 $ - $ - S $ - S $ 1,738 TOTAL Fine Art $ 150 $ 1,099 $ $ $ 925 $ 6520 $ 639 $ $ S 990 $ S 1,500 $ 11,823 Furniture Fumiture:950 Fifth $ (1,360) $ - $ - $ - $ 4,180 $ $ $ - $ S - $ S 2,600 $ 5,420 Fumiture:Aspen $ - $ - $ - $ - $ $ $ $ 17,862 $ 3,214 S - $ 3,445 S 7,395 $ 31,916 Fumiture:EH $ - $ 288 $ - $ - $ $ 23,163 $ 1,412 $ - $ S - $ S 1,096 $ 25,959 TOTAL Furniture $ (1,360) $ 288 $ $ $ 4,180 $ 23,163 $ 1,412 $ 17,862 $ 3,214 S $ 3,445 S 11,091 $ 63,295 Gifts Given - $ 600 $ $ 12,413 $ 4,788 $ 6,213 $ 446 692 S 738 $ 471 S 2,377 $ 28,738 MorganStantey SmithBarney 108 EFTA00283560

Mortimer B. Zuckerman MBZ Personal Expenses - As of December 31, 2012 Category January Description 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 OVERALL TOTAL Gifts Given:Holiday $ - $ - $ - - $ - $ - $ - S - $ 100 $ 9,250 $ 9,350 TOTAL Gifts Given - $ 600 $ $ 12,413 $ 4,788 $ 6,213 $ 446 $ 692 S 738 $ 571 5 11,627 $ 38,088 Groceries Groceries:950 Fifth $ 6,667 $ 8,615 $ 7,217 $ 5,859 $ 9,383 $ 11,539 $ 6,754 $ 3,972 $ 4,307 5 8,304 $ 10,726 5 6,689 $ 90,032 Groceries:Aspen $ 634 $ 4,558 $ 537 $ 654 $ 1,904 $ S. 182 $ 598 $ - S - $ - 5 - $ 9,067 Groceries:EH $ - $ 75 $ - $ 759 $ 219 $ 3,375 $ 4,837 $ 4,756 $ 7,314 S 713 $ - S - $ 22,048 TOTAL Groceries $ 7,301 $ 13,248 $ 7,754 $ 7,273 $ 11,505 $ 14,915 $ 11,772 $ 9,326 $ 11,621 5 9,017 $ 10,726 5 6,689 $ 121,147 Homelmprovement Homelmprovement:21 Drew Lane $ - $ 1,575 $ 962 $ 535 $ 161 $ 223 $ - $ - $ - S $ 27 S - $ 3,484 Homelmprovement:950 Fifth $ 21,804 $ 18,366 $ 39,114 $ 6,100 $ 8,240 S. 34,073 $ 1,335 $ - $ - S $ - S - $ 129,032 Homelmprovement:Aspen $ - $ 4,200 $ - $ - $ - - $ - $ - $ - 5 $ - S - $ 4,200 TOTAL Homelmprovement $ 21,804 $ 24,141 $ 40,077 $ 6,635 $ 8,401 S. 34,296 $ 1,335 $ - $ - S - $ 27 S $ 136,716 HomeRepair HomeRepair:21 Drew Lane - $ 134 $ 3,434 $ 15,179 $ 15,181 $ 18,195 $ 1,032 $ 639 1,200 $ 2,870 S $ 57,865 HomeRepair:950 Fifth Avenue 8,361 4,614 $ 4,993 $ 15,420 $ 886 $ 2358 $ 8,577 $ 1,202 3,424 7,826 5 14,991 $ 72,652 HomeRepair:950 Fifth Avenue:Riser Pray $ - $ 614,022 $ 116,943 $ 116,943 $ 200,892 $ - $ 84,199 84,199 84,199 5 $ 1,301,398 TOTAL HomeRepair.950 Fifth Avenue $ 8,361 4,614 $ 619,015 $ 132,364 $ 117,829 S. 203,250 S. 8,577 $ 85,401 87,623 92,025 $ 14,991 $ 1,374,050 HomeRepair:Aspen $ 7,449 $ $ 7,293 $ 1,139 $ 2,341 $ - $ 11,724 $ 321 $ 1,544 S 242 $ 86 S - $ 32,139 HomeRepair:EH $ - $ $ 389 $ 6,620 $ - $ - $ 9,919 $ 852 $ 19,123 S - $ 5 21,117 $ 58,021 TOTAL HomeRepair $ 15,811 $ 4,614 $ 626,831 $ 143,556 $ 135349 $ 218,432 $ 48,415 $ 87,606 $ 108,929 S 93,468 $ 2,956 S 36,109 $ 1,522,076 Horse $ - $ $ - $ $ 373 $ - S. - $ - $ S $ - S - $ 373 Horse:care $ 1,210 $ 910 $ 1,855 $ 1,825 $ 1,110 $ 1,605 $ 1,707 $ - $ 650 5 150 $ 900 5 15,924 $ 27,846 Horse:Housing $ 10,100 $ 1,600 $ 4,500 $ 6,900 $ 9,112 $ 6,882 $ 2,150 $ - $ 5,250 5 5,150 $ 15,245 S 3,900 $ 70,789 Horse:Insurance $ - $ $ - $ $ - $ 8319 $ - $ - $ S $ S - $ 8,319 Horse:Lessons $ 255 $ $ - $ $ - $ 85 $ 360 $ - $ 635 S 255 $ 298 5 - $ 1,888 Horse:Medical $ 3,051 $ $ 3,935 $ 4,263 $ 2,305 S. 4,548 $ 1,210 $ 4,692 $ 2,853 5 7,194 $ 5,072 S 7,481 $ 46,605 HorseShow $ - $ $ 2,049 $ 900 $ 295 $ 650 $ - $ 618 $ S $ S - $ 4,512 HorseSupplies $ 60 $ 100 $ 1,041 $ $ - $ - $ - $ - $ S $ S - $ 1,201 Horse:Transport $ - $ $ - $ $ - S. 1,150 $ 500 $ - $ S $ 500 $ $ 2,150 Horse:Treadmill $ - $ $ - $ $ - $ - $ - $ - $ S $ S 300 $ 300 MorganStardey SmithBarney 109 EFTA00283561

Mortimer B. Zuckerman MBZ Personal Expenses - As of December 31, 2012 Category Description January 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 OVERALL TOTAL TOTAL Horse 14,676 $ 2,610 S 13,380 S 13,888 $ 13,195 $ 23,239 $ 5,927 $ 5,310 $ 9,388 S 12,749 $ 22,015 S 27,605 $ 163,982 Household Household:950 Fifth $ 5,698 $ 1,927 $ 6,269 S 4,590 $ 4,830 $ 5,929 $ 3,593 $ 2,283 $ 2,637 S 1,720 $ 1,354 S 2,930 $ 43,760 Household:950 Fifth Staff $ - S. $ - S. - $ - S. - S. - $ - $ - S 300 $ S 382 $ 682 Household:Abigail $ - S. S. - S. - $ - S. - S. - $ - $ - S 5 48 S - $ 48 Household:Aspen $ 41 5 2,927 S. 7,221 5 3,091 $ 1,074 $ - S. 1,144 $ 2,730 $ (510) S 486 $ S - $ 18,204 Household:Easthampton $ 71 S. 1,698 S. 154 S. 851 $ 1,616 S. 4,061 S. 2,914 $ 984 $ 2,368 S 284 $ 169 S 4,153 $ 19,323 Household:Easthampton Staff $ - S. S. - S. - $ 1,229 $ - S. - $ - $ - S 5 S - $ 1,229 Household:Flowers $ - S. S - S 120 $ - S 370 $ 163 $ 26 $ - S 1,264 $ 299 S 419 $ 2,662 Household:Management ASPEN $ - S. $ - $ - $ - S - S. - $ 600 $ 600 $ 600 $ 600 S 600 $ 3,000 Household:Photography $ - S. S. - S. 1,201 $ 270 $ 114 5 - $ - $ - S $ S - $ 1,585 TOTAL Household $ 5,809 $ 6,552 $ 13,644 $ 9,852 $ 9,019 $ 10,474 $ 7,815 $ 6,623 $ 5,095 S 4,655 $ 2,470 S 8,485 $ 90,493 Housekeeping Housekeeping:950 Fifth $ - S - S - S - $ 600 $ - $ $ $ - S - $ S - $ 600 Housekeeping:Aspen $ - S - S - S - $ 1,716 5 396 5 $ 1,602 $ 573 S - $ S - $ 4,287 Housekeeping:EH $ 468 $ - S - S - 5 2,255 $ 3,575 5 4,125 $ $ 6,270 $ - $ 832 S - $ 17,524 TOTAL Housekeeping $ 468 $ S S 5 4,571 S. 3,971 S. 4,125 $ 1,602 $ 6,843 S $ 832 S $ 22,411 Insurance $ - S - $ - $ $ - $ - S $ - $ S $ 4,424 S $ 4,424 Insurance:I7 E 75th Street $ - S - $ - $ $ - S 10,204 S. $ - 5 S $ - S $ 10,204 Insurance:Auto $ 2,139 S. - $ 1,809 S. $ 1,809 $ - $ $ - $ S $ 755 S $ 6,512 Insurance:Collections $ - S - S - S $ - $ - $ 5 13305 $ S $ 31,812 S $ 45,117 Insurance:EH Flood $ - S - $ - S 2,095 $ - S - S $ - $ S $ - S $ 2,095 Insurance:Fine Art 5 24,241 S. - $ 24,241 $ 5 24,241 S. 479 $ $ - $ S $ - S $ 73,202 Insurance:Homeowners 5 20,066 5 - 5 22,979 $ 5 22,979 5 - S $ - $ S $ 25,484 S $ 91,508 Insurance:Ltd $ 40 $ 40 S. 40 S. 40 $ 40 S. 60 S. 40 $ 40 $ 40 $ 40 $ 60 S 40 $ 520 Insurance:Medical $ 342 $ 342 $ 342 $ 342 $ 342 S. 513 $ 342 $ 342 $ 342 S 342 $ 513 S 342 $ 4,445 Insurance:Refund $ (581) S. (994) S. - S $ - $ - $ $ - $ S $ - S $ (1,575) Insurance:Umbrella $ 2,669 5 - $ 2,621 5 $ 2,621 S. - S. $ - $ S $ 2,621 $ $ 10,532 TOTAL Insurance $ 48,915 $ (612) $ 52,033 $ 2,477 $ 52,033 $ 11,255 $ 382 $ 13,687 $ 382 S 382 $ 65,668 S 382 $ 246,983 Insurance Charge Insurance Charge:950 Fifth $ (21,706) $ - $ - $ - $ - $ - $ - $ - $ - S - $ - S - $ (21,706) TOTAL Insurance Charge $ (21,706) $ - $ - $ - $ - $ - $ - $ - $ - S - $ - S - $ (21,706) MorganStardey SmithBarney 110 EFTA00283562

Mortimer B. Zuckerman MBZ Personal Expenses - As of December 31, 2012 Category Description January 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 OVERALL TOTAL Invest Exp $ - $ $ $ $ $ 10,000 $ $ 10,000 Invest Exp:Boston Properties LTIPS $ 29,475 $ S S $ 29,475 TOTAL Invest Exp $ 29,475 $ $ 10,000 $ S S $ 39,475 Fees $ 44,122 $ $ 35,542 $ 41,416 $ 56,828 $ 35,803 $ 45,778 $ $ 74,299 S 23,947 $ 52,172 5 ,5 72132 $ 482,437 z Fees:Boat $ - $ $ - $ - $ $ - $ $ - S 2,494 $ S 66 $ TOTAL MI Fees $ 44,122 $ $ 35,542 $ 41,416 $ 56,828 $ 35,803 $ 45,778 $ $ 74,299 S 26,440 $ 52,172 S 72,698 $ 485,097 Landscaping Landscapin&950 Fifth - - $. 331 $ - 3,042 S. 9,296 $ 343 $ 2,253 S - $ - S 4,502 $ 19,766 Landscapin&EH $ 4,859 $ 130 5 5 25,124 $ 24,438 $ 19,031 $ 7,232 $ 2,951 $ 18,815 5 6,311 $ 16,482 5 8,920 $ 134,292 TOTAL Landscaping $ 4,859 $ 130 $ $ 25,455 $ 24,438 $ 22,073 $ 16,527 $ 3294 $ 21,067 S 6,311 $ 16,482 5 13,422 $ 154,059 Loan Loan:BofA $ $ $ $ - $ - $ - $ $ - $ - 5 144,677 $ S $ 144,677 TOTAL Loan $ $ $ $ - $ - $ - $ $ - $ S 144,677 $ S $ 144,677 Maintenance Fees $ $ - $ - $ 14,637 $ - $ 11384 $ - $ - $ 38,436 5 - $ - S 11,384 $ 75,842 Maintenance Fees:950 Fifth $ 40,658 $ - $ 15,829 $ 5,692 $ 20,329 $ 33,888 $ - $ 53,073 $ 19,251 S 53,073 $ - S 29,274 $ 271,068 Maintenance Fees:Aspen $ 600 $ - $ 600 $ 1,236 $ 1,278 $ $ 11,375 $ 1,166 $ 886 S 270 $ 8,130 5 1,692 $ 27,234 TOTAL Maintenance Fees $ 41,258 $ $ 16,429 $ 21,565 $ 21,608 $ 45,272 $ 11,375 $ 54,240 $ 58,573 S 53343 $ 8,130 S 42,350 $ 374,143 Medical $ 2,194 $ - $ - $ - $ - $ - $ - $ - S - $ - S $ 2,194 Medical:AJZ $ 300 $ $ - $ 236 $ 3,006 $ 383 $ 454 $ - $ 454 5 1,268 $ 889 S 454 $ 7,445 Medical:AJZ:Refund $ - $ - $ - $ - $ - $ - $ - $ - $ (203) S (350) $ (252) S $ (805) TOTAL Medical:AJZ $ 300 $ $ 236 $ 3,006 $ 383 $ 454 $ - $ 251 5 918 $ 637 S 454 $ 6,640 Medical:eye Care $ - $ - $ - $ - - (228) $ - $ S - $ - S - $ (228) Medical:MBZ $ 5,616 $ 2,354 $ 1,256 $ 1,235 $ 2,215 $ 4,175 $ 55 $ 3,437 $ 38 5 2.525 $ 3,220 S 4,040 $ 30,166 Nledical:MBZ:refund $ - $ $ (174) $ - $ - $ - $ - $ (350) $ S - $ (546) S (280) $ (1,350) TOTAL Medical:MBZ $ 5,616 $ 2,354 $ 1,082 $ 1,235 $ 2,215 $ 4,175 $ 55 $ 3,087 $ 38 S 2.525 $ 2,674 S 3,760 $ 28,816 Medical:MBZ Refund $ - $ $ (866) $ - $ - $ - $ - $ S - $ - S - $ (866) Medical:Medicine $ 29 $ $ 2,594 $ 109 $ 4,303 $ 1,211 $ 2,573 $ 318 S 5,157 $ 622 S 2,288 $ 19,204 MorganStardey SmithBarney 111 EFTA00283563

Mortimer B. Zuckerman MBZ Personal Expenses - As of December 31, 2012 Category Description January 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 OVERALL TOTAL Medical:Refund $ - $ (823) $ $ - $ - $ - S - $ - S - $ (823) Medical:REZ $ 1,361 $ 260 $ 655 $ 710 $ 405 $ 1,129 $ 1,680 $ 10 $ 570 S 290 $ 765 S 895 $ 8,730 Medical:REZ Refund $ - $ $ (445) $ (998) $ (105) $ (144) S (327) $ (445) S (434) $ (2,896) TOTAL Medical $ 7,306 $ 3,986 $ 1,737 $ 3,909 $ 5,735 $ 9,546 $ 2,175 $ 5,565 $ 1,034 S 8,563 $ 4,254 $ 6,963 $ 60,773 Moving & Storage $ 4,207 $ 746 $ 746 $ 746 $ 3,179 $ 1,638 $ 474 $ 120 $ 632 S 474 $ 474 S 474 $ 13,908 Moving & Storage:950 Fifth $ 283 $ - $ - $ 25 $ - $ $ - $ - $ - S - $ - S - $ 308 Moving & Storage:Art $ 6,016 $ 4,964 $ 3,473 $ - $ - $ 3,043 $ 788 $ - $ - S - $ - S 3,133 $ 21,417 Moving & Storage:Aspen $ 943 $ 943 $ 943 $ 1,143 $ 943 $ 943 $ 943 $ 943 $ 943 S 943 $ 943 S 943 $ 11,510 Moving & Storage:EH $ - $ 462 $ 228 $ 223 $ 423 $ $ - $ - $ - S - $ - S 424 $ 1,760 TOTAL Moving & Storage $ 11,449 $ 7,114 $ 5,389 $ 2,136 $ 4,545 $ 5,624 $ 2,204 $ 1,062 $ 1,575 S 1,416 $ 1,416 S 4,973 $ 48,903 Party Party:AJZ $ (752) $ - $ - $ - $ - $ $ - S - $ (752) Party:RZ $ 778 $ - $ - $ - $ - $ $ 200 S - $ 978 Tony. Party $ 25 $ - $ - $ - $ - $ $ 200 S - $ 225 Payroll Payroll:Eric Center $ 11,114 $ 5,903 $ 5,730 $ - $ 11,177 $ 5,565 $ - $ $ 11,144 S 11,144 $ S 5,645 $ 67,424 Payroll:Personal Staff $ 137,374 $ - $ 105,810 $ 80,131 $ 79,135 $ 15,600 $ 170,564 $ $ 151,887 S 105,944 $ S 169,656 $ 1,016,100 TOTAL Payroll $ 148,488 $ 5,903 $ 111,540 $ 80,131 $ 90,313 $ 21,165 $ 170,564 $ $ 163,031 S 117,088 $ S 175,301 $ 1,083,524 Personal Expenses Personal Expenses:Flowers, EH $ - $ - $ - $ - $ - $ - $ 88 $ - $ - S - $ - S - $ 88 TOTAL Personal Expenses $ - $ - $ - $ - $ - $ - $ 88 $ - $ - S - $ - S - $ 88 Petty Cash Petty Cash:950 Fifth $ 437 $ 2,291 $ $ 1,897 $ - $ $ 211 S 855 $ 5,690 Petty Cash:EH $ - $ - $ 1,913 $ $ - $ 2,991 $ S - $ 4,904 Petty Cash:MBZ $ - $ 1,000 $ 1,000 $ 1,000 $ 3,000 $ 2,600 $ 5,000 $ $ 2,000 S $ 2,000 S 4,000 $ 21,600 Petty Cash:Nanny $ - $ 1,493 $ 253 $ 679 $ 384 $ 2,014 $ 158 $ 220 $ 1,246 S 4,410 $ 393 S 1,490 $ 12,742 Petty Cash:Office $ - $ - $ $ $ - $ - $ $ $ S $ 1,500 S - $ 1,500 Petty Cash:OfficeSupplies $ - $ - $ $ $ - $ - $ $ $ 38 S $ S - $ 38 TOTAL Petty Cash:Office $ - $ - $ $ 38 S $ 1,500 S $ 1,538 MorganStardey SmithBarney 112 EFTA00283564

Mortimer B. Zuckerman MBZ Personal Expenses - As of December 31, 2012 Category Description January 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 OVERALL TOTAL TOTAL Petty Cash $ 437 $ 4,785 $ 3,166 $ 1,679 $ 5,281 $ 7,605 $ 5,158 $ 220 $ 3,284 S 4,410 $ 4,104 S 6,345 $ 46,474 Pool PookEH $ - $ - $ $ - S 3,166 $ 790 $ - $ 634 $ 3,075 S - $ - S - 7,666 PoolSwimming Lessons $ - $ - $ $ 2,805 $ 2,805 $ - 2,400 $ - $ 1450 5 3)000 $ - S - 12,660 TOTAL Pool $ - $ - $ 5 2,805 5 5,971 5 790 5 2,400 5 634 $ 4,725 S 3,000 $ - S - 20,326 Rent Rent:155 E. 31st Street 5 5,332 $ 2,752 $ $ $ 8,084 Rent:200 E 65th St 20A $ - $ - $ 5 51.360 $ $ 51,360 TOTAL Rent $ 5,332 $ 2,752 $ $ 51.360 $ $ 59,444 School $ $ - $ $ $ $ - $ $ $ S $ 250 S $ 250 School:Ballet $ $ 575 $ $ $ $ - $ $ $ S $ - S $ 575 School:Bus $ $ - $ $ $ $ 2,585 $ $ $ S $ - S $ 2,585 School:Misc $ $ - $ $ $ $ - $ $ 1,000 $ 10 $ 601 $ 75 S $ 1,686 School:REZ $ $ 750 $ 600 $ 5,750 $ $ - $ 1,440 $ 300 $ 600 S $ - S 600 $ 10,040 &hool:Tui lion $ 300 $ 7,785 $ $ 5 24,100 $ 15,903 $ $ $ S $ 7,815 S $ 58,603 TOTAL School 5 3,000 $ 9,110 $ 600 $ 5,750 $ 24,100 $ 18,488 $ 1,440 $ 1,300 $ 610 $ 601 $ 8,140 $ 600 $ 73,739 Security Security:950 Fifth $ $ - $ 915 $ $ $ 915 $ $ $ 915 S $ $ 915 $ 3,658 Security:Aspen $ 150 $ - $ 95 $ $ 150 $ 854 $ $ 150 $ S $ 150 S $ 1,549 Security:EH $ 1,277 $ - $ $ 1,127 $ $ 146 $ 1,127 $ $ 50 S 1,136 $ S $ 4,863 TOTAL Security $ 1,427 $ $ 1,010 $ 1,127 $ 150 $ 1,914 $ 1,127 $ 150 $ 965 S 1,136 $ 150 S 915 $ 10,070 Shipping $ 735 $ 470 $ 292 $ 517 $ 56 $ 112 $ 66 $ 317 $ 287 S 110 $ 75 S 188 $ 3,226 Skiing 5 13,373 $ 12,790 $ - $ - $ 2,025 $ $ $ $ S $ S $ 28,188 Skiing:Aspen 5 2,141 $ 258 $ - 5 16,297 $ $ $ $ $ S $ S 1,940 $ 20,637 TOTAL Skiing 5 15,514 $ 13,048 $ 5 16,297 $ 2,025 $ $ S 1,940 $ 48,825 Subscriptions $ 65 $ 32 $ 38 $ 50 $ 12 $ $ 197 Tax Tax:17 E. 75h Street $ - $ $ - $ - $ $ 62,446 S - $ S - $ 62,446 Tax:Fed $ 18,868 $ 866,938 $ 24,051 $ 24,051 $ 24,051 $ 36,077 $ 27,1% $ 24,051 $ 24,051 S 24)051 $ 36,077 S 24,051 $ 1,153,473 Tax:MA $ - $ $ 46,000 $ - $ $ - S - $ S - $ 46,000 MorganStariley SmithBarney 113 EFTA00283565

Mortimer B. Zuckerman MBZ Personal Expenses - As of December 31, 2012 Category Description January 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 OVERALL TOTAL Tax:MD - $ - $ - $ - $ - $ - $ - $ S 17,647 $ - S 1,649 $ 19,296 Tax:Medicare 1,061 $ 40,267 $ 1,117 $ 1,117 $ 1,117 $ 1,675 $ 1,150 $ 1,117 1,117 $ 1,117 $ 1,675 S 1,117 $ 53,642 Tax:NY 4,422 $ 264,806 $ 5,510 $ 5,510 $ 5.510 $ 8,265 S. 6,318 $ 5,510 $ 5,510 S 117,055 $ 8,265 S 5,510 $ 442,190 Tax:NYC 2,462 $ 117,585 $ 3,092 $ 3,092 $ 3,092 $ 4,637 S. 3,189 $ 3,092 3,092 $ 3,092 $ 4,637 S 3,092 $ 154,151 Tax:Payment - $ - $ - $ - $ - $ - $ - $ $ 24,024 $ - S - $ 24,024 Tax:Property Tax:Property21 Drew Lane $ $ $ - $ $ 28,850 - S - $ - S 67,663 $ 96,512 Tax:Property:4 Three Mile Harbor Drive $ $ $ $ $ $ $ $ - S - $ - S 18,425 $ 18,425 Tax:Property:418 Wrights Road - $ 17,505 S. - $ - $ $ $ $ $ - S - $ - S - $ 17,505 TOTAL Tax:Property $ $ 17,505 $ $ $ $ $ $ 28,850 $ S $ S 86,088 $ 132,442 Tax.Sac Sec $ 3,073 $ 1,552 $ $ $ $ $ $ $ S $ S - $ 4,624 TOTAL Tax $ 29,885 $1,308,651 $ 33,769 $ 79,769 $ 33,769 $ 50,654 $ 37,814 $ 62619 $ 96,215 S 186,985 $ 50,654 S 121,506 $ 2,092,289 Tax Pee $ - - $ $ - $ - $ $ - $ - S - $ 850 S - $ 850 Telephone $ 1,199 $ 250 $ 250 $ 177 $ 214 $ 214 $ 316 $ 559 $ 326 S 141 $ 180 S 180 $ 4,004 Telephone:Nanny's $ 248 $ 248 $ 251 $ 248 $ 248 $ 248 $ 250 $ - $ 501 $ 248 $ 248 $ 253 $ 2,992 TOTAL Telephone $ 1,447 $ 499 $ 501 $ 425 $ 462 $ 462 $ 566 $ 559 $ 826 $ 389 $ 428 $ 433 $ 6,997 Tennis Tennis:EH $ $ 1,399 $ $ $ 1,399 $ $ 1,711 $ $ 1,711 S 760 $ S - $ 6,979 TOTAL Tennis $ - $ 1,399 $ $ $ 1,399 $ $ 1,711 $ $ 1,711 5 760 $ S - $ 6,979 Toys $ - S. $ S. 78 $ - $ 93 $ 209 $ 388 $ 391 $ 260 $ 285 $ 1,265 $ 2,969 Travel $ 7,679 $ 5,951 $ 8,534 $ 756 $ 4,587 $ 30.349 $ - $ - $ 108 S $ 3,228 $ 18,722 $ 79,914 Travel:AJZ $ - $ $ $ 3,952 $ 1,909 $ $ - $ - $ - S $ S - $ 5,861 Travel:Helicopter $ 7,611 $ $ $ 38,870 $ - $ $ 71,549 $ 37,089 $ 52,140 $ 7,355 $ 5 12,275 $ 226,888 Travel:Helicopter:Operating Expense $ 125,000 $ 65,000 $ $ - $ - $ 100,000 $ - $ - $ - $ - $ $ 150,000 $ 440,000 TOTAL Travel:Helicopter $ 132,611 S. 65,000 $ $ 38,870 $ $ 100,000 S. 71,549 $ 37,089 $ 52,140 $ 7,355 $ S 162,275 $ 666,888 Travel:MBZ $ $ - $ 2,581 $ 781 $ - $ 1.325 $ $ $ 21,112 $ 1,741 $ S 1,966 $ 29,505 Travel:REZ $ $ 246 $ 35 $ $ - $ $ $ $ - $ - $ S 528 $ 809 TravelStaff $ 14 $ 2,699 $ $ 2,868 $ - $ 180 $ 797 $ 435 $ 723 $ 85 $ 18 S 2,604 $ 10,422 TOTAL Travel $ 140,304 $ 73,895 $ 11,150 $ 47,227 $ 6,496 $ 131,854 $ 72,346 $ 37,524 $ 74,082 S 9,181 $ 3,245 S 186,095 $ 793,400 MorganStardey SmithBarney 114 EFTA00283566

Mortimer B. Zuckerman MBZ Personal Expenses - As of December 31, 2012 Category Description January 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 OVERALL TOTAL US News Charges $ - $ - $ - $ - $ 1358 4,724 $ $ S $ S 6,083 US News Charges:Dinner $ - $ - $ - $ 1,200 $ 45 $ $ S $ $ 1,245 US News Charges:Entertaining 814 $ - $ 788 $ 395 $ 130 302 181 313 $ $ 676 $ 765 $ 597 4,962 US News Charges:MZ Website $ 22,620 $ - $ - $ - $ 8,910 $ $ 31,530 US News Charges:Reimbursement $ - $ - $ - $ - $ $ $ US News Charges:Storage $ 93 $ 93 $ 93 $ 93 93 93 $ 93 $ 93 $ 93 S 93 $ 186 1,115 US News Charges:Subscriptions $ - $ 737 $ 80 $ 1,148 50 764 381 $ 39 $ 887 171 5 488 463 5,209 US News Charges:Supplies $ 414 $ - $ - $ - $ $ $ $ 414 US News Charges:Telephone $ 18 $ 18 $ 18 $ 18 $ 18 18 14 $ 20 17 35 5 18 18 230 US News Charges:Travel $ 1,510 $ 938 $ 1,452 $ 2,055 $ 880 600 1,953 $ 2.846 1,805 3,821 2,334 12,959 33,152 US News Charges:USN Aviation $ - $ - $ - $ - $ $ $ TOTAL US News Charges 25,468 $ 1,785 $ 2,430 $ 4,908 $ 2,529 $ 6,502 $ 2,668 $ 12,222 $ 2,802 S 4,796 $ 3,604 S 14,224 $ 83,939 Utilities Utilities:200 E. 65th Street $ 8,221 $ - $ - $ - $ - $ - $ - $ - $ - S - $ - S - $ 8,221 Utilities:Aspen $ 1,614 $ 805 $ 462 $ 1,601 $ 351 $ 1,025 $ 810 $ 1,131 $ 1,180 S 2,766 $ 915 S 567 $ 13,226 Utilities:Cable TV 950 Fifth $ 994 $ 400 $ - $ 134 $ 395 $ 395 $ 395 $ 395 $ 395 S 395 $ 404 S 459 $ 4,760 Utilities:Cable TV Aspen $ - $ - $ - $ 193 $ 187 $ 187 $ 187 $ 242 $ 242 S 242 $ 242 S 242 $ 1,966 Utilities:Cable TV EH $ 519 $ 519 $ 519 $ 519 $ 519 $ 519 $ 519 $ 519 $ 519 S 519 $ 519 S 519 $ 6,229 Utilities:Cable TV200 E 65th Street $ 500 $ - $ - $ - $ - $ - $ - $ - $ - S - $ - S - $ 500 Utilities:Cas & Electric 950 Fifth $ 78 $ - $ 51 $ 56 $ 40 $ 71 $ 25 $ - $ 86 S 52 $ - S 49 $ 509 Utilities:Cas & Electric EH $ 4,682 $ 2,200 $ 2,854 $ 1,928 $ 1,740 $ 8,713 $ 3,448 $ 3,745 $ 6,007 S 4,434 $ 56 S 4,652 $ 44,440 Utilities:Water Eli $ - $ - $ 60 $ - $ - $ 204 $ - $ - $ 541 S - $ - S 407 $ 1,213 TOTAL Utilities 16,607.78 3,924.12 3,946.41 4,430.14 3,232.13 11,114.18 5,384.68 6,032.77 8,970-53 8,408.73 2,135.77 6,876.11 81,063.35 TOTAL OUTFLOWS 622,208.97 1,526,157.36 1,097,985.03 597,884.38 617,087.55 1,093,211.20 507,719.91 340,589.07 842,801.00 775,274.83 337,587.26 907,238.68 9,265,745.24 OVERALL TOTAL -538,159.40 1,252,263.78 -986,763.25 -403,483.04 -540,024.04 -977,702.13 -428,419.74 -263,596.92 -765,82295 -698,296.00 -214,597.30 -343,576.02 4,908,177.01 MorganStardey SmithBarney 115 EFTA00283567

Mortimer B. Zuckerman Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value Mortimer B. Zuckennan 41,700,256,033 ASSETS 42,030,590,943 Cash 515,306,000 Bank of America - MMF $10,112 JPM Chase - Checking $133,484 JPM Chase - Money Mkt $98,704 Morgan Stanley - Money Mkt 515,063,700 Municipal Securities 531,864,927 Citibank - Muni Bonds $12,299,472 Morgan Stanley - Intermediate Term Muni Bonds $10,795,845 Morgan Stanley - Long Term Muni Bonds $8,151,417 Morgan Stanley -Short Term Muni Bonds $618,192 Corporate 516,113,506 Citi - Corporate Bonds 516,113,506 Corporate Bonds $6,475,284 Seix $6,475,284 Taxable Fixed Income 512,702,593 Doubleline Total Return - Intermediate Term $2,689,662 Lord Abbett Short Duration - Short Term 510,012,931 Global Bonds $2,844,040 Templeton Global Bond Fund $2,844,040 Hedge Funds -Direct $5,941,998 American Steadfast, LP. $5,941,998 Private Capital - Fund of Funds 516,284,370 Chase Capital Partners Private Equity FF II, LTD $320,073 GS Private Equity Partners II, L.P. $718,591 Quellos Financial Ventures II, L.P. $788,175 Quellos Private Capital 2002, L.P. (US Mature) $5,817,371 Quellos Private Capital II, L.P. $8,640,160 Please note: The MV of BXP common stock does not include accruals. The total amount will not match the amount on the "detailed of investment assets page." Confidentiel MorganStanley SmithBarney 116 EFTA00283568

Mortimer B. Zuckerman Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value Private Capital - Direct Partnerships $48,209,963 Court Square Capital Partners L.P. (CVC Eq.Partners L.P.) 5164678 CVC Capital Partners Asia Pacific II, LP. $1,468,894 CVC European Equity Partners V, LP. $3,880,392 Evercore Venture Partners, LP. $4,546 Francisco Partners, L.P. $1,714,552 Gabriel Capital Investment 2006 $7,386,800 Generation Capital Partners II, L.P. $1,458,142 Glilot Capital Partners I, L.P. $175,000 Greycroft Partners II, LP. $957,454 GS Capital Partners III, L.P. $61,131 Heartland Industrial Partners, L.P. $906,413 Morgan Stanley Credit Partners Onshore, LP. $2,288,696 Patricof Private Investment Club II, LP. $8,750 Patricof Private Investment Club III, L.P. $248,045 Patricof Private Investment Club, L.P. $1,699 Pequot / FMVP II, L.P. $27,164 Quadrangle Capital Partners, L.P. $1,611,534 Quellos Co-Investment Fund II, L.P. $13,545,520 Quellos Co-Investment Fund III, LP. $8,779,398 Quellos Co-Investment Fund, LP. $1,639,380 Valor Equity Partners II, L.P. $1,883,776 Private Capital - Direct Companies $1,300,844 Ally / Cerbenn Firm Investors, LLC $1,037,361 Courtroom Connect $54,400 Keith Glen Media $23,814 Newbridge Vencable Partners, LLC $132,500 Rely Software (f/k/a Rightfreight, Inc) $35,159 VISC Japan K.K. $17,610 Closely Held Entities $45,938,864 USN College Marketing, Inc. $45,938,864 Please note: The MV of BXP common stock does not include accruals. The total amount will not match the amount on the "detailed of investment assets page." Confidential MorganStanley SmithBarney 117 EFTA00283569

Mortimer B. Zuckerman Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value Boston Properties, Inc. $819,014,824 BXP (Common) $69,305,550 BXP (Common) $33,859,200 BXP (LTIP) $38575,355 BXP (Non Vested) $9,181,217 BXP (Non Vested) $1,164,538 BXP (OPU's) $661,680,199 BXP (Vested Options) $331,351 M2 Burnside Holdings, L.P. $2,499,655 M2 Longstreet Holdings, LP. $1,385,794 M2 Meade Holdings, L.P. $1,031,965 Other Investment Assets $136,155,963 Present Value of Future MBZ Crut Distributions $136,155,963 Family Businesses $587,928,663 Present Value of Future USN Crut Distributions $7,373,833 The Daily News (Preference and Interest on LOC) $505,554,830 US News Sc World Report, LP $75,000,000 Notes and Loans Receivable $662,266 Barbara G. Jensen $28,950 Carmen Z Robinson $283,316 Daniel Rothschild $200,000 Mathias Thomer $50,000 The Core Club 55th Street LLC $100,000 Other Assets $1,028,281 JP Morgan Chase - East Hampton $3,784 Morgan Stanley Checking Account $678,386 T. Rowe 401(K) Retirement Plan $346,112 Please note: The MV of BXP common stock does not include accruals. The total amount will not match the amount on the "detailed of investment assets page." Confidential MorganStanley SmithBarney 118 EFTA00283570

Mortimer B. Zuckerman Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value Personal Assets $121,490,705 An, Furniture and Other - 21 Drew Lane $2,744,701 An, Furniture and Other - 599 Lexington Avenue $184,124 An, Furniture and Other - 950 Fifth Avenue $106,065,592 An, Furniture and Other - 950 Fifth Avenue (Paloma) $12,000,000 An, Furniture and Other - Aspen $48,864 An, Furniture and Other - Lazy Z $75,073 Hampton Golf Club, LLC $309,581 Lexus LX470-1999 $25,275 Mercedes Benz 5430-2001 937,495 Zuckerman Personal Holdings $80,500,000 BR, Inc - ("Lazy 2" Motor Yacht) $25,000,000 USN Aviation - (ZWA, Inc.) $44,000,000 ZAS, LLC- (Waldorf Flight Services) $11,500,000 Real Property & Options $80,827,852 17 East 75th Street 95,527,852 21 Drew Lane 830,500,000 4 Three Mile Harbor Drive $3,300,000 418 Wrights Road Aspen $9,500,000 950 Fifth Avenue $32,000,000 LIABILITIES $330,334,910 Obligations To Related Parties $47,884,243 BR, Inc - ("Lazy 2" Motor Yacht) $14,792507 Pauline Gertler $2.265,654 USN Aviation - (ZWA, Inc.) $29,260,862 ZAS, LLC- (Waldorf Flight Services) $1,565,220 Please note: The MV of BXP common stock does not include accruals. The total amount will not match the amount on the "detailed of investment assets page." Confidential MorganStanley SmithBarney 119 EFTA00283571

Mortimer B. Zuckerman Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value Mortgages $56,788,944 Bank of America- 418 Wrights Road 57,181,751 Bank of America-17 East 75th Street 55,302,759 Bank of America-21 Drew Lane $19,960,171 Bank of America-4 Three Mile Harbor Drive $793,653 Bank of America-950 Fifth Avenue $23,550,610 Unsecured Obligations To Third Parties 4225,661,723 Bank of America Revolving Line of Credit $175,000,000 Daily News, L.P. - HUD $1,600,000 Daily News, L.P. - NJEDA $7,800,000 Krall Payments $200,000 MBZ Printing (APT, LP) $41,061,723 Please note: The MV of BXP common stock does not include accruals. The total amount will not match the amount on the "detailed of investment assets page." Confidential MorganStanley SmithBarney 120 EFTA00283572

MBZ 1996 Trust (GST Exempt) Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value MBZ 19% Trust (GST Exempt) $99,670,798 ASSETS $99,670,798 Cash $4,641,429 Morgan Stanley - Money Mkt $3,158,852 Operating Account 1996 TR (AIP) $1,482,577 Municipal Securities $5,080,248 Morgan Stanley - Intermediate Term Muni Bonds $4,511,490 Morgan Stanley - Long Tenn Muni Bonds $568,758 Corporate $19,459 Citi - Corporate Bonds $19,459 Corporate Bonds $8,056,632 Seix $8,056,632 Taxable Fixed Income $1,856,683 Doubleline Total Return - Intermediate Tenn $1,856,683 Global Bonds $4289,580 Templeton Global Bond Fund $1,289,580 AIP Onshore Hedge Funds $11,192,543 Boronia Diversified Fund (AIP) $390,113 Double Black Diamond Class C (AIP) $1,263,073 GEM Realty Securities LP (All) $1,202,850 14BK Fund Il LP (ALF') $1,352,197 LIM Asia Multi-Strategy Fund (Ali) $1,046,415 Man AHL Diversified Il USA (ATP) $452,789 Mariner Tricadia Credit Strat (AIP) $1,178,042 Millenium USA LP (AIP) $1,362,436 MQ Asian Alpha fund (AIP) $628,734 Seligman Tech Spectrum Fund (AIP) $1,048,406 York Credit Opportunity Fund (MP) $1,267,488 Confidential MorganStanley SmithBarney 121 EFTA00283573

MBZ 1996 Trust (GST Exempt) Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value Hedge Funds -Direct $4,242,168 GS Hedge Fund Seeding Strategy $3,021,970 GS Investment Partners (Onshore) 31,220,198 Private Capital - Fund of Funds $3,523,773 GS Private Equity Partners II, L.P. $318,634 Quellos Private Capital 2002, L.P. $1,045,098 Quellos Private Capital II, L.P. 52,160,041 Private Capital - Direct Partnerships S26,060,763 Brickman 1280 Fifth Investments II, LP. $839,201 Brickman Real Estate Fund II, LP. 31,824,861 Brickman Real Estate Fund III, L.P. $594,971 Israel Infrastructure Fund I-C, LP. 51,610,870 Quellos Co-Investment Fund II, LP. $8,127,312 Quellos Co-Investment Fund III, LP. $6,584550 Quellos Co-Investment Fund, LP. $3,614518 VSS Comunications Partners IV, LP. 32,864,480 Private Capital - Direct Companies $1,079,861 Ally / Cerberus Firm Investors, LLC 51,037,361 Newbridge Vencable Partners, LLC 542,500 Boston Properties, Inc. $4,636,546 BXP (Common) 51,636,546 Notes and Loans Receivable $27,991,113 Daily News, L.P. $27,991,113 Confidential MorganStanley SmithBarney 122 EFTA00283574

MBZ 1996 (GST Non Exempt) Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value MBZ 1996 (GST Non Exempt) $301,755„310 ASSETS $301,755,310 Cash $9,124,231 Morgan Stanley - Money Mkt $9,124,231 Municipal Securities $4,918,361 Morgan Stanley - Intermediate Term Muni Bonds $4,657,889 Morgan Stanley - Short Term Muni Bonds $260,473 Corporate Bonds $24,871,338 Seix $24,871,338 Taxable Fixed Income $15,372,648 Doubleline Total Return - Intermediate Term $4,142,892 Lord Abbott Short Duration - Short Term $11,229,756 U.S. Equities $5,438,298 Goldman Sachs MLP $5,438,298 Global Bonds $3,496,917 Templeton Global Bond Fund $3,496,917 Hedge Funds -Direct $13,476,911 AP Investments Europe Limited $7,649 CCA Absolute Return Muni Strategy, LP. $5,260,317 Paulson Advantage Plus, LP. $8,120,352 Taconic Opportunity Fund $88,593 Private Capital - Fund of Funds $2,746,017 GS Private Equity Partners II, L.P. $585,976 Quellos Private Capital II, L.P. $2.160,041 Confidential MorganStanley SmithBarney 123 EFTA00283575

MBZ 1996 (GST Non Exempt) Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value Private Capital - Direct Partnerships $40,337,289 CVC European Equity Partners IV, L.P. 52.117,603 CVC European Equity Partners V, LP. 53,880,395 DST Global III, LP. 52.902,678 Legacy Capital, LP. 54,556464 Morgan Stanley Credit Partners Onshore, LP. 52,288,696 Quellos Co-Investment Fund II, L.P. 58,127,312 Quellos Co-Investment Fund III, LP. 58,779,398 Quellos Co-Investment Fund, LP. $4,820,263 VSS Comunications Partners IV, L.P. $2,864480 Private Capital - Direct Companies $3,027,485 Freescale Co-Investment XVI, LW $712419 Newbridge Vencable Partners, LLC 575,000 The Vehicle Production Group, LLC. $2,240,066 Boston Properties, Inc. $149,618,032 BXP (OPU's) 5149,618,032 Notes and Loans Receivable $29,327,783 Daily News, L.P. $29,327,783 Confidential MorganStanley SmithBarney 124 EFTA00283576

MBZ 1983 Family Trust Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value MBZ 1983 Family Trust $82,835,277 ASSETS $82,835,277 Cash 41,254,906 Morgan Stanley - Money Mkt $1,254,906 Municipal Securities $258,962 Morgan Stanley - Short Term Muni Bonds $258,962 Corporate $1,976,249 Citi - Corporate Bonds $1,976,249 Corporate Bonds $6,273,896 Seix $6,273,896 Taxable Fixed Income $4,949,217 Doubleline Total Return - Intermediate Term $2,032,024 Lord Abbett Short Duration - Short Term $2,917,193 Global Bonds $1,760,876 Templeton Global Bond Fund $1,760,876 Hedge Funds -Direct $2,618,746 Paulson Advantage Plus, L.P. $2,618,746 Private Capital - Fund of Funds $2,160,110 GS Vintage Fund, LP. $1,115,012 Quellos Private Capital 2002, LP. $1,045,098 Private Capital - Direct Partnerships $11,186,172 Brickman Real Estate Fund IV, LP. $1,541,030 CVC European Equity Partners IV, LP. $2,117,603 Israel Infrastructure Fund I-C, LP. $1,610,870 Quellos Co-Investment Fund II, LP. $2,709,103 Quellos Co-Investment Fund III, LP. $2,194,849 Quellos Co-Investment Fund, LP. $1,012,717 Confidential MorganStanley SmithBarney 125 EFTA00283577

MBZ 1983 Family Trust Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value Private Capital - Direct Companies $3,789,780 Ally / Cerbenis Firm Investors, LLC $1,037,361 Freescale Co-Investment XVI, LW $712,419 Loud3R $2,040,000 Family Businesses $UMO MBZ Digital Ventures LLC $84,400 Notes and Loans Receivable $46,521,964 Daily News, L.P. $8,421,964 The MBZ News 1992 Trust UAD 12-29-92 $38,100,000 Confidential MorganStanley SmithBarney 126 EFTA00283578

USN College Marketing, Inc. Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value USN College Marketing, Inc. $45,938,864 ASSETS $45,938,864 Cash $2,766,527 Bank of America - MMF S11,987 Morgan Stanley - Money Mkt $2,754,541 Municipal Securities $1,032,882 Morgan Stanley - Intermediate Term Muni Bonds $776,074 Morgan Stanley - Long Tenn Muni Bonds $256,808 Corporate $10,999,541 Citi - Corporate Bonds $10,999,541 Corporate Bonds $3,923,334 Seix $3,923,334 Taxable Fixed Income $2,306,732 Lord Abbett Short Duration - Short Term $2,306,732 Global Bonds $796,243 Templeton Global Bond Fund $796,243 Hedge Funds -Direct $5,750,747 CCA Absolute Return Muni Strategy, L.P. $5,750,747 Private Capital - Direct Partnerships $18,362,858 Morgan Stanley Credit Partners Onshore, LP. $1,144,351 Quellos Co-Investment Fund II, LP. $8,127,312 Quellos Co-Investment Fund III, LP. $6,584,550 Quellos Co-Investment Fund, LP. 52,506,645 Confidential MorganStanley SmithBarney 127 EFTA00283579

MBZ Charitable Remainder Unitrust Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value MBZ Charitable Remainder Unitrust 5153,826,159 ASSETS $153,826,159 Cash $34,580,775 Morgan Stanley - Money Mkt $33,094,427 Operating Account MBZ CRUT (AIP) $1,486,349 Municipal Securities $3,257,453 Morgan Stanley - Intermediate Term Muni Bonds $3,116,722 Morgan Stanley - Long Term Muni Bonds $140,731 Corporate $7,322,340 Citi - Corporate Bonds $7,322,340 Corporate Bonds $12,915,371 Seix $12,915,371 Taxable Fixed Income $21,593,101 Doubleline Total Return - Intermediate Term $8,137,367 Lord Abbett Short Duration - Short Term $13,455,734 Global Bonds $12,583,976 Gluskin Sheff $9,936,870 Templeton Global Bond Fund $2,647,106 Pk:~ rote: The total value does rot take into cortuderatton the liability d the Present Value of Future MB2 Crut Distnbutions Confidential MorganStanley SmithBarney 128 EFTA00283580

MBZ Charitable Remainder Unitrust Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value AIP Offshore Hedge Funds $13,503,595 Boronia Diversified Fund (AIP) $449,993 Double Black Diamond Class C (Al?) $1,661,087 HBK Offshore Fund Il Ltd. (AIP) $613,516 LIM Asia Multi-Strategy Fund (AIP) $1,037,203 Mariner Tricadia Credit Strat (MP) $1,178,006 Millenium Intl Ltd - aass EE (AIP) $1,229,159 MQ Asian Alpha fund (AIP) $608,851 Oz Overseas Fund Ltd. (All) $2,177,218 QFR Victoria Fund (AIP) $1,681,295 Seligman Tech Spectrum Fund (MP) $562,756 Taconic Opportunity Fund (MP) $1,055,049 York Credit Opp Unit Trust (AIP) $1,249,462 Hedge Funds-Direct $15,041,557 AIP Custom HF Solutions $11,786,794 Ascot Fund Limited $0 Blackstone Offshore Fund II $2,298,697 GS Investment Partners (Offshore) $956,066 Private Capital - Fund of Funds $420,683 Quellos Financial Ventures II, (CRT), LP. $420,683 Private Capital - Direct Partnerships $32,607,309 Morgan Stanley Credit Partners Offshore, LP. $5,721,733 Quellos Co-Investment Fund Il, L.P. - CRT Series 55,244,501 Quellos Co-Investment Fund III, L.P. - CRT Series $9,588,748 Quellos Co-Investment Fund, LP. - CRT Series $12,052,327 Pk:~ rote: The total value do“ rot taka• into cortuderation the cd the Hesent Value of Future MB2 [rut Distnbutions Confidential MorganStanley SmithBarney 129 EFTA00283581

USN Charitable Remainder Unitrust Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value USN Charitable Remainder Unitrust $8,130,596 ASSETS *130,596 Cash 390,478 Morgan Stanley - Money Mkt $90,478 Corporate Bonds $6,297,250 Seix $6,297,250 Taxable Fixed Income $1,330,637 Doubleline Total Return - Intermediate Term $430,019 Lord Abbett Short Duration - Short Tenn $900,618 Global Bonds $412,230 Templeton Global Bond Fund $412,230 Pkaie rote: The total value does rot take into eoroxleration the liability of the Present Value of Future USN Crut Distributions Confidential MorganStanley SmithBarney 130 EFTA00283582

MBZ 1992 News Trust Balance Sheet - As of December 31, 2012 Current Value of Individual/Entity (as of 12/31/12) Value MBZ 1992 News Trust ($38,100,000) LIABILITIES $38,100,000 Obligations To Related Parties $38,100,000 The Mortimer B. Zuckerman 1983 Family TR UAD 12-21-83 $38,100,000 Confidential MorganStanley SmithBarney 131 EFTA00283583

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Entity Description Alp: Boronia Diversified Fund MBZ 1996 Trust, MBZ Out Managed Futures -The investment objective of the Boronia Diversified Fund (US) LP Ls to deliver above-average, consistent, medium-term capital appreciation by investing primarily in a diversified portfolio of futures and forward markets using the investment techniques developed by Boronia Capital Pty Ltd ("Boronia"). The Fund invests all of its assets to Boronia Diversified Program which is 100% systematic, technical-bused, short-term directional program that tradm in highly liquid futures and forward markets. Key Employee's: Richard Grinham, Angus Grinham All': Dialectic Antithesis Partners MBZ 1996 Trust, MBZ Crut Equity Long/Short - Dialectic Antithesis' principal investment philosophy is to short stocks using a long-term time horizon across a diverse portfolio of troubled companies Over the long run, Dialectic Capital Management LLC believes this strategy can achieve positive absolute returns. In the short mit a down market should create significant positive returns In an up market, the manager believes that the funds long positions, disciplined profit taking and focus on troubled companies will protect against significant losses. Key Employees: John Fichthom, Luke Fichthorn All': Double Black Diamond Class C MBZ 1996 Trust MBZ Crut Relative Value - The principal strategy of Double Black Diamond, LP. is to identify and exploit inefficiencies in the global securities markets while minimizingexposure to market risk Carlson Capital LP. is the investment manager and seeks to accomplish this objective through hedging and other investment strategies, that are generally intended not to be market-sensitive. Key Employees: Clint Carlson, R. Harold Schroeder, Roy Trice, Jr. AIP: Ivory Flagship Fund LP MBZ 1996 Trust MBZ Crut Global Equity Long/Short- Ivory Investment Management, LP. (the 'Manager') takes long and short positions primarily in equity securities of publicly-traded companies, and may also invest in debt securities and derivative instruments. Ivory seeks to generate returns primarily from individual security selection ('alpha") as opposed to overall market exposure ((beta and expects the returns to be derived from both capital appreciation and investment Income. Key Employee Curtis Macnguyen, Christopher Winkler, Mads Jorge All: Mariner Tricadia Credit Strat MBZ 1996 Trust MBZ Crut Credit Long/Short - Tricadia employs a fundamental approach investing in securitized credit and corporate credit (single name and structured credit) from both long and short. The Fund pursues a combination of relative value trading and directional credit strategies. Key Employees: Michael Barnes, Arif Inayatullah • Please note: The fund descriptions are provided by the respective funds. MorganStanley SmithBarney 132 EFTA00283584

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Entity Description AIP: Millenium LISA LP MBZ 1996 Trust MBZ Out Global Multi- Strat The Manager seeks to deliver absolute return with relatively low volatility by focusing on a high level of diversification, tight control of directional market exposures, and a risk management framework that ensures a high level of liquidity and systematic movement of capital based on teal-time trading profit and losses. Key Employee: bay Englander Alf': MQ Asia Long Short Fd Offshore MBZ 1996 Trust, MBZ Crut Alp: °NIG Opportunities Trading Fund MBZ 1996 Trust MBZ Out Equity Market Neutral Asia - The MQ Asia Long Short Fund seeks to systematically exploit situations where equities deviate from fair value, due to human behavioral biases, which result in market participants placing too much or too little value on certain information flows. Three behavioral biases are driven by fundamental human emotions and therefore apply across markets and endure over time. The manager believes that this is particularly so in Asia given its culture, population pressures, gee-political histoty, and structural inefficiencies which accommodate and exacerbate these biases Key Employees: Nick Bird, Andrew Alexander, 2icai Feng European Equity Long/Short - OMG is an equity long/short, trading oriented hedge fund targeting large cap equities in developed Europe. The Fund seeks to 'buy and sell share prices," as opposed to investing in companies based on the merits of their fundamentals. The strategy focuses on determining share price supply/demand imbalances by analyzing technical indicators, news flow and fund flows. The manager aims to understand market positioning, expectations and share price action to make long and short investment decisions. Key Employees: Richard O'Hare, Gary Martin, Steven Gee Alp: Owl Creek II LP MBZ 1996 Trust MBZ Crut Event Driven -Owl Creek is a fundamental research, value and event-driven investor that analyzes opportunities across the capital structure and invests in both credit and equity securities. As such, the fund seeks to maintain flexibility and focus on the opportunity set that offers the most compelling risk reward in the market. The fund predominantly invests in the U.S. but also has deep investing experience in Asia, providing some geographic diversification. Jeffrey Altman Alp: 0.2 Overseas Fund Ltd. MBZ 1996 Trust MBZ Out Global Multi Strategy - The Fund seeks to achieve consistent, positive absolute returns that are non-correlated with the equity market indicts through investments in merger arbitrage, long/short equity special situations, convertible and derivative arbitrage, credit, structured credit, and private investments. The Fund employs a research-driven, bottom-up investment proems that is supported by thorough qualitative and quantitative analysis. The Manager exhibits significant depth of fundamental research capabilities and typically generates alpha from the long side. Daniel Och David Windreich, Harold Kelly, Joel Frank, MorganStanley SmithBarney 133 EFTA00283585

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Entity Description Alp: Moro Macro Fund Ltd. MBZ 1996 Trust, MBZ Out Global Macro- a global macro fund that attempts to generate returns by focusing on nano imbalances and structural inefficiencies in Emerging Markets. While the Fund focuses primarily on Emerging Market sectors, it will also trade in the developed marks. There are eight portfolio managers in the Fund. The multi-PM approach, combined with a strong risk discipline, is designed to provide the Fund with diversification benefits. Guillaume Fonkenell, Michael Skarbinski AIP: Seligman Tech Spectrum Fund MBZ 1996 Trust, MBZ Crut Equity Long/Short - The Seligman Tech Spectrum Fund is an Equity Long-Short Fund focusing primarily on the US. Technology, Media, and Telecom Markets. The portfolio will invest in both long and short positions and in general have a net long bias to the markets. Paul Wick AIP: York Credit Opportunity Fund MBZ 1996 Trust. 1482 Crut AIP: GEM Realty Securities LP MBZ 1996 Trust. MBZ Crut HBK Fund II LP MBZ 1996 Trust. MBZ Crut Global Event Driven Distressed - Objective to achieve superior risk-adjusted returns over time prirnarilythrough investments in opportunities that are generated by the various phases of the credit cycle. The Fund's target investments tend to be underappreciated companies with favorable earnings and solid balance sheets. The Manager pays close attention to market dislocations, where limited liquidity may present unique windows of opportunity to invest in heavily discounted securities. The Manager's experience with complex market processes means that the Fund's portfolio may periodically include strategies that require discrete expertise, including bankruptcy and merger arbitrage. The Fund is typically long-biased, but does implement short strategies as market conditions warrant. Importantly, the Manager is averse to the deployment of portfolio leverage. James Dinan, Daniel Schwartz. Real Estate Equity Long/Short - The Fund's investment objective is to achieve attractive risk adjusted rates of return with less volatility than the broader equity markets primarily through publicly-traded real estate companies, including real estate investment trusts ("Rat's") and real estate operating companies„ or companies that have a significant component that is real estate related. The Fund invests and trades, by purchasing long and selling short on margin and otherwise, the equity and debt (including loan participation interest) of US. and non-US. companies, including real estate companies, which they believe are undervalued relative to the market. Key Employees: Michael Elrad, Barry Malkin, Norman Geller, Neal Gumbin Multi- Swat fund - The Fund exhibits a relative value orientation, and attempts to deliver strong risk-adjusted returns with relatively ow volatility and low correlation to major market indices. The Fund pursues a wide range of strategies, including investments in equity, credit, derivatives, and sovereign debt. The Fund makes investments in both developed and emerging markets. The Manager allocates capital dynamically across strategies and geographies. Portfolio construction combines bottom-up analysis with top-down views. Currently, nearly half of HBK's capital is deployed outside of the US., and no single position, strategy, or individual risk taker dominates the portfolio. Key Employees: David Haley, Richard Booth, William Rose MorganStanley SmithBarney 134 EFTA00283586

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Entity Description Alp: Kaiser Trading Fund SPC Ltd. MBZ 1996 Trust MBZ Crut Commodity Trading Adviser - out of Victoria, Australia and was formed in June 1991. By trading the worlds financial markets using a systematic, computer based and statistically validated approach Kaiser Trading Group Ply Ltd goal is to: To provide returns having low correlation with the worlds major bond, currency and equity indicts; To limit maximum draw downs; To provide consistent results across time Alp: Man AHL Diversified II USA MBZ 1996 Trust, MBZ Crut Managed Futures - The purpose and business of Man - AHL Diversified II (USA) LP.is to seek medium tarn capital growth, independent of the movement of the stock and bond markets, through the speculative trading, directly and indirectly, of physical commodities, futures contracts, spot and forward contracts, options on the foregoing. exchanges of futures for physical transactions and other investments on domestic and international exchanges and markets (including the interbank and over the counter ("OTC) markets). Key Employees: Tim Wong, Andrew Sinclair American Steadfast LP MBZ A long/short hedge fund seeking to generate long-term compounded annual returns of 10% -20% net, while protecting capital from large draw-downs. With an emphasis on capital appreciation, they use the following strategies to obtain an attractive risk-adjusted return: equities represent the majority of exposure, deep analysis across the capital structure; opportunistic use of debt and other non-equity securities, 'portfolio hedges.' address macro risk to the portfolio, downside protection as options and default swaps increase in value with negative catalysts AP Investments Europe Limited MBZ 1996 Trust (Non Exempt) AP Investment Europe (AIE): AIE invests in mezzanine, debt and equity investmens of both public and private, companies primarily located in Europe. The fund seeks to generate current income and capital appreciation though is flexible investment strategy which is intended to capture opportunities across the capital structure. AIE utilizes a disciplined approach to evaluate the most appropriate part of the capital structure in which to invest based on the risk/reward profile of the investment opportunity. Blackstone Strategic Alliance Fund II MBZ Crut An investment vehicle that provides seed capital to emerging hedge fund managers and proprietary trading desks. They will allocate Day 1 capital to experienced hedge fund managers seeking to launch their own businesses. The fund seeks to provide above average hedge fund returns through a combination of General Partnership participation and hedge fund exposure: in addition to a meaningful long-term seed investment, Blackstone provides advice to underlying managers, in return for a share of the underlying manager's revenue's. MorganStanley SmithBarney 135 EFTA00283587

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Entity Description Brickman Real Estate Fund I, L.P. MBZ 1996 Trust Brickman Real Estate Fund I, LP (the 'Fund n, a Delaware limited partnership, was formed on April 9, 2002 between Brickman Real Estate Fund I, GP as the general partner and various private investors as limited partners for the purpose of investing in real estate property and real 'state secured loans. Fund I had a scheduled termination date of May 31, 2008 and included an extension option of up to twenty-four months. On May 6, 2008, Fund I extended the term to May 30, 200). Fund I intends to extend the term to May 30, 2010. Only remaining Investment is 1280 Fifth Ave, all other investments have been monetized. Brickman Real Estate Fund II, LP. MBZ 1996 Trust Brickman Real Estate Fund Ill, LP. MBZ 1996 Trust Brickman Real Estate Fund IV, L.P. MBZ 1983 Family Trust Brkkman Real Estate Fund V, LP. MBZ 1996 Trust The Fund targetscore asses which will produce a stable cash Row over the targeted hold period. It seeks asses in markets that have long term positive fundamentals and that have a history of liquidity. In summary, the Fund targets: Core + Investment, 16 office properties, 2 residential, Concentration in Beaton, DC, Metro NY, 96% leased, very strong cash flows The Fund invests in opportunistic real estate asses. Currently, the Fund is focusing on distressed debt and equity opportunities. Opportunistic Fund's Key Investments.- Raw Land in the Hampton, Mez Debt in Savanah, CA, Resort property in Bermuda (formerly Coral Beach Club), Pinnacle Multi-Family rental properties The Fund targetscore assets which will produce a stable cash flow over the targeted hold period. It seeks asses in markets that have long term positive fundamentals and that are considered highly liquid. The majority of the assets will be office buildings, however there will also be investments allocated to real estate debt and residential real estate. The Fund includes: 8 Debt Investments, 4 Properties, Sister fund to fund II, Debt Investments have been marked The Fund invests in opportunistic real estate assets. Currently, the Fund is specifically invested in 1280 Fifth Ave. CCA Absolute Return Muni Strategy, MBZ 1996 Trust (Non Exempt), USN The fund strategy is to generate an absolute return from Municipal securities via LP. College Marketing Inc MorganStanley SmithBarney 136 EFTA00283588

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Entity Description CA Absolute Return Muni Strategy, LP MBZ 1996 Trust (Non Exempt), USN A long/short Municipal Bond investment managed by Craig Henick at Citi. The fund seeks to generate an absolute return from municipal College Marketing Inc. securities via (i) current income, (ii) relative value trading opportunities and (iii) the potential for longer-term capital appreciation should the municipal/taxable yield ratios recover from currently distended levels and revert towards historical averages. The fund will trade both tax- exempt and taxable municipal bonds. The duration of the portfolio will depend on the relative value along the municipal yield curve, as well as the relative steepness of the municipal to taxable yield curves. No leverage will be used. Cerberus Firm Investors, LLC MBZ MBZ 1996 Trust, MBZ 1983 Family Trust Cerberus FIM Investors, LW (the 'Company) was organized as a limited liability company in March 2005 pursuant to the provisions of the laws of the Delaware Limited Liability Company Act and commenced operations on March 9, 2006. Cerberus AM, LLC, a Delaware limited liability company, is the managing member (Managing Member") of the Company. The Company was formed to invest substantially al of its assets indirectly (through AM Holdings, LLC (11M Holdings')) in General Motors Acceptance Corporation LLC, a Delaware limited liability company (GMAC) in the other diversified financial services industry, and engage in any activities and transactions incidental to the foregoing. At December 31, 2007, the Company owned approximately 83.76% of the members' capital of FIM Holdings. The company also serves as the managing member of FIM Holdings. Court Square Capital Partners, LP. MBZ Court Square Capital Partners, Inc. ("Court Square" or the "Form") has one of the most experienced and tenured teams in the private equity Industry. For more than 20 years, William T. Comfort, David F. Thomas, Thomas F. McWilliams, Michael A. Delaney and Joseph M. Silvestri (collectively, the "Managing Partners"), along with eight other members of the senior investment team (together with the Managing Partners, the "Investment Team"), have pursued a consistent strategy of sponsoring buyouts of businesses that passim attractive growth prospects. Court Square Capital Partners II, LP. (the "Fund" or "Fund II") is being established by Court Square and will be managed on a substantially similar basis as Citigroup Venture Capital Equity Partners, LP. ("Fund I") to invest primarily in U.S.-based middle-market companies. Fund L a 42.6 billion partnership established in 2001, has generated a realized gross IRR of 87.7% and a multiple of invested capital of 4.7x. In keeping with the Investment Team's historical investment strategy, Fund II is seeking commitments of 42.5 billion from limited partners. The Investment Team intends to commit 5150 million to Fund II. Fund is 100% called, 100% committed, currently in distribution mode. 01 vintage and can expect to see the 2 - 1 year extensions utilized. 9companies left in portfolio, 700mm cost, 1.3b in value. IRR on portfolio 39%. CVC Capital Partners Asia Pacific II, LP. MBZ CVC Capital Partners Asia Pacific II L.P. (the 'Partnership') was established on 1st November 2004 and is registered as an exempted limited partnership in the Cayman Islands under The Exempted Limited Partnership Law. The principal activity of the Partnership is to seek to generate significant long-term capital appreciation through the making of private control equity investments in established, cash-generative businesses in the Asia Pacific region. CVC Asia focuses on buyouts and invmtment in Japan, Creates China, South Korea and Australia. They have a well-established local presence and proven execution capability in all key markets. CVC Asia's senior management lead all investment decisions for funds I, II, and Ill. Key professionals have on average over 11 years of private equity experience. MorganStanley SmithBarney 137 EFTA00283589

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund CC European Equity Partners IV (Europe Enterprise 11)1 CVC European Equity Partners V (Europe Enterprise Ill) Doubkline Total Return Bond Fund Evercore Venture Partners, LP. Entity Description MBZ 1996 Trust (Non Exempt), MBZ Specializing in European Buyouts and Investment, Realized and Unrealized portfolio currently valued at 1.Dc cost. CVC Europe has a 1983 Family Trust global network of 18 offices and 72 buyout professionals, including 27 partners with an average tenure of 12 years. MBZ, MBZ 1996 Trust (Non Exempt) European Private Equity. 22% of commitment has been called, plenty of cash available for new deals. Only 3 portfolio companies at this time. CVC Europe has a global network of 18 offices and 72 buyout professionals, including 27 partners with an average tenure of 12 years. MBZ MBZ 1996 Trust, MBZ 1996 Trust (Non Exempt), MBZ 1983 Family Trust MBZ Crut, USN Out MBZ The investment seeks to maximize total return. The fund invests at least 80% of net assets in debt securities. It intends to invest more than 50% of net assets in mortgage-backed securities of any maturity or type guaranteed by, or secured by collateral that is guaranteed by, the United States government, its agencies, instrumentalities or sponsored corporations, or in privately issued mortgagebacked securities rated at time of investment Aa3 or higher by Moody's or AA- or higher by or the equivalent by any other nationally recognized statistical rating organization. Evercore Venture Partners LP. (the "Partnership") is a limited partnership formed under the laws of the State of Delaware for the purpose of making Portfolio Investments, as defined in the Partnership Agreement (the "Agreement"), as amended. Capitalized terms used herein and not otherwise defined shall have the meaning set forth in the Agreement. To the extent that this and the other notes that follow describe or refer to the terms and provisions of the Agreement, they are intended as summaries only and are qualified in their entirety by reference to the Agreement itself. The Partnership was formed on October 16, 2000 and commenced operations on October 23, 2000. The Partnership changed its name from eCompanies - Even-ore Venture Partners II L.P. on June 28, 2001. The Partnership has a term of eight years from the Initial Closing Date and is subject to earlier dissolution and termination upon the occurrence of certain events as described in the Agnsement. The General Partner may extend the term of the Partnership for up to hvo successive one-year periods, in each case with the consent of a Majority in Interest of the Limited Partners. Thereafter, the Partnership will liquidate in an orderly manner and distribute all investments or proceeds. In December 2003, the Partnership adopted the Third Amendment to the Agreement which extends the term of the Partnership from eight to ten years. The general partner of the Partnership is Evercore Venture Management LLC. (the "General Partner"). The General Partner changed its name from eCompanies - Evercore Venture Management II LLC on June 28, 2001. Pursuant to the terms of an Investment Advisory Agreement, Evercore Venture Advisors L.L.C. (the "Advisor"), a Delaware limited partnership, and an Affiliate of the General Partner, originates and recommends investment opportunities to the Partnership, monitors and evaluates investments and performs certain administrative services. The Partnership and Evercore Venture Partners (NQ) LP. ("EVP Mr), a Delaware limited partnership (a "Parallel Investment Partnership") and other Evercore related co -investors (Note 9) co-invest on a parallel basis in the securities of companies selected by the Advisor. EVP (NQ), however, has certain restrictions and limitations on investments that are not applicable to the Partnership. The Partnership will generally co-invest in the portfolio of securities with EVP (NQ) in the ratio of their respective aggregate Unfunded Capital Commitments. MorganStanley SmithBarney 138 EFTA00283590

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Entity Description Francisco Partners LP. MBZ. The enclosed financial statements include the amounts of Francisco Partners, L.P. and its parallel fund Francisco Partners Fund A, LP. (collectively the "Partnership"). The Partnership was organized as a Delaware limited partnership on May 8, 2001 to make investments in technology companies, both domestically and internationally, for long-term capital appreciation, using various transaction structures including leveraged buyouts, management buyouts, spinouts, recapitalizations, minority invmtments, restructurings and growth equity investments. Francisco Partners Fund A, LP, which has total commitments of $12.3 million, was established to facilitate non-qualifk‘d Investors' investments in the same investments made by Francisco Partners, LP. Both funds share all Partnership investments and expenses on a pro-rata basis. The general partner of the Partnership is Francisco Partners GP, LLC (the "General Partner"), a Delaware limited liability company. Freescale Co-Investment XVL LLC MBZ, talf1.2 1996Trust (Non Exempt), Direct Co-Investment alongside Gtigroup; Restructuring one of the leading semi-conductor deign companies MBZ 1993 Family Trust Generation Capital Partners It LP. MBZ Generation Capital Partners II LP (the 'Partnership') is a limited partnership formed under the Delaware Revised Uniform Limited Partnership Act pursuant to an agreement entered into as of March 28, 2008 (the 'Partnership Agreement'). The general partner of the Partnership is Generation Partners II LLC (the 'General Partner"). The Partnership will operate until March ZS, 2010, unless terminated earlier or extended in accordance with the provisions of the Partnership Agreement. The Partnership was organized to achieve long-trim capital appreciation by investing in equity and equity-oriented securities of privately help companies in Healthcare Sm•ices & Technology, Education, Media & Communications. Glilot Capital Partners I L.P. MBZ An Israeli venture capital fund investing in seed and early state software companies. Glilot Capital Partners I, LP. MBZ The primary objective of the Fund is to generate favorable returns for the Investors through capital appreciation, principally by making. holding and disposing of equity and equity-related investments in Israeli and Israeli-related high-tech companies Gluskin Shelf and Associates MBZ Crut Canadian dollar denominated corporate bond portfolio investing in High Grade and High Yield Canadian credit. Target allocation is S0% high grade, and 50% high yield. William Webb is the Chief Investment Officer and David Rosenberg is the Chief Economist te Strategist MorganStanley SmithBarney 139 EFTA00283591

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities I Mid Entity Description uotinun Sachs MLP MBZ 1996 Trust (Non Exempt) The Central MLP team at Goldman Sachs creates and manages customized portfolios invested in energy MLP and MLP-related public equity securities on a discretionary basis. Each portfolio is held in a separate account and is managed with the objective of total return as a result of stable cash flow distributions that grow over time. The team will also take instructions as articulated by each particular client based on tax considerations related to that client Greycroft Partners II, LP. MBZ A venture capital fund led by Alan Patricoff. They seek to invest in promising digital media companies. They serve the founders and investors who have chosen us as their partners, and help them to build large, successful busintsses. Greycroft banns between $500,000 and $5 million at inception, and will increase on a staged basis to double that amount over time. They inns alone or alongside other firms, and will accept a board seat when appropriate, although a board seat is not a prerequisite when syndicating with others. With offices in New York and Los Angeles, they also leverage an extensive network of media and technology industry oonnections to help their investees gain visibility, build strategic relationships, and successfully bring their products to market. GS Capital Partners II, L.P. MBZ, MBZ 1996 Trust, MBZ 1996 Trust (Non Exempt) GS Capital Partners II, LP. (the "Partnership"), a Delaware limited partnership, was formed for the purpose of investing in equity, equity- related and debt securities primarily acquired in privately-negotiated transactions, leveraged acquisitions, reorganizations and other equity transactions. The Partnership seeks to provide the partners with long-term capital gains through such investments. The Partnership commenced operations on April 15, 1995 and sold its last investment in 2009. GS Advisors, L.L.C. (the "General Partner"), a wholly-owned subsidiary of The Goldman Sachs Group, Inc. (the "Special Limited Partner"), extended the Partnership's term until April 15, 2009 in accordance with the Amended and Restated Agreement of Limited Partnership dated April 15, 1995 (the "Partnership Agnoemenr). At that time, the General Partner initiated the winding up of the Partnership's business in accordance with the Partnership Agmement. GS Capital Partners Ill. LP. MBZ GS Capital Partners Ill, LP. (the "Partnership"), a Delaware limited partnership, was formed for the purpose of investing in equity, equity- related and debt securities primarily acquired in privately-negotiated transaction* leveraged acquisitions, reorganizations and other equity transactions. The Partnership seeks to provide the partners with long-term capital gains through such investments. The Partnership commenced operations on June 4, 1998. GS Advisors ill, L.LC. (the "General Partner), a wholly-owned subsidiary of The Goldman Sachs Group, Inc. (the "Special Limited Partner), has extended the Partnership's term until June 4, 2011 in accordance with the Amended and Restated Agreement of Limited Partnership dated June 4, 1998 (the "Partnership Agreement"). MorganStanley SmithBarney 140 EFTA00283592

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Entity Description CS Investment Partners (Off Shore) MBZ Crut Goldman Sachs Investment Partners Offshore, LP. (the "Partnership"), a Cayman Islands limited partnership, was formed to achieve attractive risk-adjusted returns with low correlation to traditional asset classes. The Partnership invests all or substantially all of its assets in Goldman Sachs Investment Partners Offshore Aggregating Fund, LP. (the "Aggregating Vehicle"), a Cayman Islands limited partnership. The Aggregating Vehicle in turn invests a significant portion of its assets in Goldman Sachs Investment Partners Master Fund, LP. (the "Master Partnership"), and its wholly owned subsidiary, Goldman Sachs Investment Partners Aggregating Fund Holdings Offshore, LP. (the "Holding Company). Goldman Sachs Investment Partners GP, LLC, a Delaware limited liability company, is the General Partner (the "General Pannef) of the Partnership. GS Investment Strategies, LLC is the investment manager ("GSIS" or the "Investment Manager") of the Partnership. Both the General Partner and Investment Manager are affiliates of Goldman, Sachs & Co. ("Goldman Sachs.). The Partnership commenced operations on January 1, 2008 and will continue in existence until dissolved in accordance with the terms of the Amended and Restated Limited Partnership Agreement dated December 6, 2007 (the -Partnership Agreement"). At December 31, 2038, the Partnership had a 75.02% ownership in the Aggregating Vehicle. The performance of the Partnership is directly affected by the performance of the Aggregating Vehicle. These financial statements should be read in conjunction with the attached consolidated financial statements of the Aggregating Vehicle. CS Investment Partners (On Shore) MBZ 1996 Trust Goldman Sachs Investment Partners, LP. (the "Partnership"), a Delaware limited partnership was formed to achieve attractive risk-adjusted returns with low correlation to traditional asset classes. The Partnership invests all or substantially all of its assets in Goldman Sachs Investment Partners Aggregating Fund, LP. (the "Aggregating Vehicle"), a Delaware limited partnership. The Aggregating Vehicle in turn invests a significant portion of its assets in Goldman Sachs Investment Partners Master Fund, LP, (the "Master Partnership") and a wholly owned subsidiary, Goldman Sachs Investment Partners Aggregating Fund Holdings, LP. (the "Holding Company). Goldman Sachs Investment Partners GP, LLC, a Delaware limited liability company, is the General Partner (the "General Partner) of the Partnership. CS Investment Strategies, LW is the investment manager ("GSIS" or the "Investment Manager) of the Partnership. Both the General Partner and Investment Manager are affiliates of Goldman, Sachs & Co. ("Goldman Sachs"). The Partnership commenced operations on January 1, 2008 and will continue in existence until dissolved in accordance with the terns of the Amended and Restated Limited Partnership Agreement dated December 6, 2007 (the "Partnership Agreement"). At December 31, 2008, the Partnership had a 51.16% ownership in the Aggregating Vehicle. The performance of the Partnership is directly affected by the performance of the Aggregating Vehicle. These financial statements should be read in conjunction with the attached consolidated financial statements of the Aggregating Vehicle. MorganStanley SmithBarney 141 EFTA00283593

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Entity Description GS Private Equity Partners 11, LP. KIBZ. M82 1996 Trust, MBZ 1996 Trust (Non Exempt) CS Private Equity Partners II, LP. (the "Partnership"), a Delaware limited partnership, was formed for the purpose of investing in pooled investment vehicles via capital commitments to the issuers of such investments ("Partnership Investments") and privately negotiated transactions ("Direct Investments"), generally sourced on a co-investment beset with certain other co-investment partnerships ("Co- Inestment Partnerships"). The Partnership may receive distributions-in-kind from the Partnership Investments representing securities of the Partnership Investments' underlying portfoliocompanies ("Security Investments" and together with Partnership Investments and Direct Investments, "Portfolio Investments"). The Partnership may also make investments directly or Indirectly related to the Partnership Investments, including underlying portfolio companies owned by Partnership Investments, swaps, options, and lanyard currency contracts. The Partnership is permitted to invest both domestically and internationally across all sectors of the private equity market. The Partnership commenced operations on February 24,199E and will continue in existence until the later to occur of (I) December 31, 2009 or (ii) one year after the date by which all of the Partnership's Portfolio Investments have been liquidated and the Partnership's obligations (including, without limitation, contingent obligations) have terminated. The Partnership may also be dissolved earlier as requested by GS PEP II Advisors, LLC. (the "General Partner') or its term may be extended by the General Partner with the approval by a majority in interest of the limited partners in accordance with the Amended and Restated Agreement of Limited Partnership dated November 1, 2008 (the "Partnership Agreement"). GS Vintage Fund, LP. MBZ 1983 Family Trust GS Vintage Fund L.P. (the "Partnership"), a Delaware limited partnership, was formed for the purpose of investing in (I) pooled investment vehicles via capital commitments to the issuers of such investments ("Partnership Investments"), (ii) pooled investment vehicles purchased from the existing owners of such pooled investments and not from the issuers of such investments or transactions structured to share many of the characteristics and economics of such purchases ("Secondary Investments"), and (Ili) privately negotiated transactions ("Direct Investments"), generally sourced on a co-investment basis with certain other co -investment partnerships ("Co-Investment Partnerships"). The Partnership may receive distributions-in-kind from the Partnership Investments and Secondary Investments representing securities of the Partnership Investments' and Secondary Investments' underlying portfolio companies ("Security Investments" and together with Partnership Investments, Secondary Investments and Direct Investments, "Portfolio Investments"). The Partnership may also make investments directly or indirectly related to the Partnership Investments and Secondary Investments, including underlying portfolio companies owned by Partnership Investments and Secondary Investments, swaps, options, and forward currency contracts. The Partnership is permitted to invest both domestically and internationally across all sectors of the private equity market. The Partnership commenced operations on November 81998 and will continue in exist rice until the later to occur of (1) December 31, 2009 or (ii) one year after the date by which all of the Partnership's Portfolio Investments have been liquidated and the Partnership's obligations (including, without limitation, contingent obligations) have terminated. The Partnership may also be dissolved earlier as requested by GS Vintage Advisors, LLC (the "General Partner") or its term may be extended by the General Partner with the approval by a majority in interest of the limited partners in accordance with the Amended and Restated Agreement of Limited Partnership dated November 8 1998 (the "Partnership Agreement"). MorganStanley SmithBarney 142 EFTA00283594

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Entity Description heartland Industrial Partners, L.P. MBZ Heartland Industrial Partners, LP. (the "Partnership") is a Delaware limited partnership formed pursuant to an agreement entered into as of May 10, 2000 (the "Partnership Agreement'). The Partnership is organized for the principle purpose of investing in corporate acquisitions and leveraged buyouts and makes investments as deemed advisable by Heartland Industrial Associates. LLC (the 'General Partner) a Delaware limited liability company. Original investment idea surrounded Manufacturing opportunities in US in MO. investments were made in 11/2000, 2/2001, 9/2001, 6/2002. 60% decline from the initial investment. 4 investments are still in the portfolio with a 5253mm valuation. Life of fund terminates in May 10, 2 -1year extensions will likely be used. The Partnership term is to continue through May 10, 2010, which may be extended by the General Partner for up to two consecutive one-year periods as described and provided for in the Partnership Agreement. In connection with an amendment to the Partnership Agreement the Partnership% Commitment Period was terminated effective January 1, 2006. Accordingly, available capital commitments may no longer be drawn to fund new investments, but may be drawn to fund existing investments and expenses of the Partnership. Israel Infrastructure Fund IC LP. MBZ 1996 Trust MBZ 1983 Family Trust Israel Infrastructure Fund (hereinafter - 'the Fund') represents three parallel partnerships: 1. Israel Infrastructure Fund I-A, L.P. (hereinafter - 'the Partnership"); 2. Israel Infrastructure Fund I-B, LP.; 3. Israel Infrastructure Fund IC L.P. The Fund intends to initiate and invest in infrastructure projects, entities and asses mainly in Israel. The Partnership was established on August 31, 2006, under the laws of the State of Israel pursuant to an agreement between the General Partner and the Initial Limited Partner. The term of the Fund is ten years from the initial closing. subject to up to two consecutive additional one-year extensions, as decided by the General Partner in its sole and absolute distretion. The Fund intends to initiate and invest in infrastructure projects, entities and asses mainly in Israel, which offer investment opportunities with the potential to generate significant interest and dividend income and capital appreciation. JPM Chase - Money Mkt MBZ Cash account, benchmarked against the Citlgroup 90 day Legacy Capital, LP. MBZ 1996 Trust (Non Exempt) The fund will construct a diversified portfolio of private equity fund investments and direct co-investments, primarily focused on the People's Republic of China, Macau, Hong Kong, and/or Taiwan McDonnell MBZ, MBZ 1996 Trust (Non Exempt), The portfolio taken as whole will be structured over the long term first with an objective to seek to preserve principal and second to seek to MBZ 1983 Family Trust, USN College enhance capital value. Investment include: (1) Short term tax-five money market instruments, (2) Municipal obligation and (3) US treasuries Marketing Inc., MBZ Crut and agency securities. The investment objective is to be competitive with the appropriate Barclays Capital Muni Bond index (Barclays Capital 5 Year Muni Bond Index) depending upon the average maturity and duration of the portfolio at that time. MorganStanley SmithBarney 143 EFTA00283595

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Entity Description Morgan Stanley - Money Mkt MBZ MBZ 19% Trust, MBZ 1996 Trust (Non Exempt), MBZ 1983 Family Ins, USN College Marketing Inc., MBZ Crut, USN Crut Morgan Stanley Credit Partners Fund, MBZ, MBZ 19% Trust (Non Exempt), LP. USN College Marketing Inc, MBZ Crut Morgan Stanley Credit Partners Onshore MBZ MBZ 19% Trust (Non Exempt), USN College Marketing Inc., MBZ Crut Morgan Stanley-Muni Bonds - IT Morgan Stanley-Muni Bonds - LT Morgan Stanley-Muni Bonds -ST Cash account, benchmarked against the Citlgroup 90 day T-Bill The Morgan Stanley Credit Partners Fund LP has been organized to make investments in the corporate credit markets. The Fund intends to invest on a global basis in order to assemble an investment portfolio of up to 20 to 25 primary market investments. The Funds primary market investments are expected to be comprised primarily of fixed income loans and securities, including preferred stock (which may include an equity component) made in the context of corporate transactions such as acquisitions, debt refinancing, capital structure retinacturings, leveraged buyouts and DIP financings. The Fund will seek to maximize risk-adjusted returns by investing selectively in transactions where issuers cannot access the high yield or leveraged loan markets or where these markets cannot provide the certainty, speed, flexibility or confidentiality that such issuers may require. Importantly, the Fund will seek to leverage the proprietary deal flow and due diligence advantage embedded in the Morgan Stanley platform. The Fund will have the flexibility to invest in secondary market purchases. A Mezzanine Debt Fund organized to make investments in the corporate credit markets. The Fund intends to invest on a global basis in order to assemble an investment portfolio of up to 20 to 25 primary market investments. The Funds primary market investments are expected to be comprised primarily of fixed income loans and securities, including preferred stock (which may include an equity component) made in the context of corporate transactions such as acquisitions, debt refinancing, capital structure restructurings, leveraged buyouts and DIP financings. The Fund will seek to maximize risk-adjusted returns by investing selectively in transactions where issuers cannot aa-ms the high yield or leveraged loan markets or where those markets cannot provide the certainty, speed, flexibility or confidentiality that such issuers may require. MBZ, MBZ 1996 Trust (Non Exempt), Investment objectives of the Muni bond& (a) Purchasing the highest credit quality bonds, (2) Capital Preservation, (3) Tax Free Income MBZ 1996 Trust. MBZ Crut MBZ, MBZ 1996 Trust (Non Exempt) Investment objectives of the Muni bonds: (a) Purchasing the highest credit quality bonds, (2) Capital Preservation, (3) Tax Free Income MBZ, MBZ 1996 Trust (Non Exempt), MBZ 1996 Trust, MBZ 1993 Family Trust MBZ Out, USN College Marketing Inc. Investment objectives of the Muni bonds: (a) Purchasing the highest credit quality bonds, (2) Capital Preservation, (3) Tax Free Income MorganStanley SmithBarney 144 EFTA00283596

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Entity Description Patricof Private Investment Club II, LP. MBZ Patricof Private Investment Club III, LP. MBZ Patricof Private Investment Club, LP. MBZ Paulson Advantage Plus, LP. MBZ 1993 Family Trust MBZ 1996 Trust (Non Exempt) Patricof Private Investment Club II, LP. is a limited partnership organized on May 1, 1998 under the laws of Delaware. The purpose of the partnership is to invest in equity securities ranging from early stage investments to later stage investments and turnaround situations in parallel with APA Excelsior V partnerships ("companion funds") with the objective of realizing long term capital appreciation. Patricof Private Investment Club III, LP. Is a limited partnership organized under the laws of Delaware. The purpose of the partnership is to invest in equity securities ranging from early stage venture capital investments to later stage investments and turnaround situations in parallel with APA Excelsior V partnerships ("companion funds") with the objective of realizing long term capital appreciation. The partnership commenced operations on may, 16, 2000. Patrice/ Private Investment Club, LP. is a limited partnership organized on March 15, 1996 under the laws of Delaware. The purpose of the partnership is to invest in equity securities ranging from early stage investments to later stage investments and turnaround situations in parallel with the Excelsior IV partnerships ("companion funds") with the objective of realizing long term capital appreciation. Paulson Advantage Plus L.P. is a market neutral fund that seeks to achieve above average returns with low volatility and low market correlation. The Fund constructs a diversified global portfolio dedicated to event driven investing. In addition to a core focus on merger arbitrage, the Advantage Funds also include distressed investing and special situations: Merger Arbitrage: High quality spread deals, announced mergers with the possibility of higher bids, unique deal structures and short deals unlikely to close. Special Situations: Spin-offs, Litigations, Events Arbitrage, Restnacturings, Proxy Contexts, Post Bankruptcy Equities. Distressed: Liquidations, High Yield Long/Short, Capital Structure Arbitrage, Bankruptcy/Reorganizations. Paulson Advantage, LP. MBZ 1993 Family Trust MBZ 1996 Paulson Advantage LP. is a market neutral fund that seeks to achieve above average returns with low volatility and low market correlation. Trust (Non Exempt) The Fund constructs a diversified global portfolio dedicated to event driven investing. In addition to a core focus on merger arbitrage, the Advantage Funds also include distressed investing and special situations: Merger Arbitrage: High quality spread deals, announced mergers with the possibility of higher bids, unique deal structures and short deals unlikely to close. Special Situations: Spinoffs, Litigations, Events Arbitrage, Restructurings, Proxy Contexts, Post Bankruptcy Equities. Distressed: Liquidations, High Yield Long/Shott, Capital Structure Arbitrage, Bankruptcy/Reorganizations. MorganStanley SmithBarney 145 EFTA00283597

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Pequot / FMVP II, L.P. Entity Description MBZ FMVP II, LP. (formerly Pequot Venture Partners II, LP.) (the 'Partnership') is a limited partnership that commenced operations on February 15, 2000 and is organized under the laws of the State of Delaware to invest and trade in securities. The Partnership was scheduled to end on February 15, 2008. The General Partner has extended the term of the Partnership for an additional two years to February 15, 2010, as permitted under the Limited Partnership Agreement. On August 20, 2008, the investment principals of Pequot Ventures, the venture capital arm of Pequot Capital Management, Inc., formed a new firm, FirstMark Capital, LLC and assumed the investment management operations of Pequot Ventures and full responsibility for the assets previously under the management of Pequot Ventures. Effective as of that date, the name of the Partnership was changed from Pequot Venture Partners II, L.P. to FMVP II, LP. Quadrangle Capital Partner, L.P. MBZ QCP has invested in a diversified portfolio of 19 companies that cover a wide range of media and communications sectors within our investment scope. Overall, we are pleased with the portfolio's progression. QCP is fully committed and will not add new portfolio companies; our five-year commitment period ended on May A 2005. Quellos Co-Investment Fund II, L.P. MBZ, USN College Marketing Inc., QBCo-Invintment Fund II, LP. ('QCF II" or the 'Fund') is being established as a successor fund to Q11 Co-Investment Fund, L.P. ('QCP V). MBZ 1996 Trust (Non Exempt), MBZ Similar to QCF I, the Fund will be structured to make select co-investments primarily with the general partners and investment managers 1996 Trust MBZ 1983 Family Trust underlying our Alsolute Return Strategies CARS" and Private Capital Strategies (RO) funds of funds. MBZ Crut Quellos Co-Investment Fund III, L.P. MBZ, MBZ 1996 Trust, MBZ 1996 Trust Investments are expected to be made on a global basis with a focus on intermediate-term opportunities sourced by underlying hedge fund (Non Exempt), MBZ 1983 Family managers. Since 2006, BAA has sourced over 250 transactions from Co-Investment GPs wrom80 different partners and has invested more Trust, USN College Marketing Inc, than 5750 million in aggregate across 45 such deals. MBZ Out Quellos Co-Investment Fund, L.P. MBZ, USN College Marketing Inc., Quellos Co-Investment Fund, LP. ("QCF" or the "Fund") is organized as a Delaware series limited partnership. The Fund's objective is to MBZ 1996 Trust (Non Exempt), MBZ generate returns for investors through concentrated exposure to co -investments and special purpose fund investments primarily with the 1996 Trust, MBZ 1983 Family Trust, general partners and investment managers underlying Quellos absolute return and private capital funds of funds. MBZ Crut MorganStanley SmithBarney 146 EFTA00283598

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Entity DeseripHon Quellos Financial Ventures II, (CRT), L.P. MBZ MBZ Crut Quellos Financial Ventures II, LP. ('QP, II" or the *Fund') is a multi-manager investment fund organized as a Delaware limited partnership, which began operations in the first gustier of 2004. The Fund's objective Is to generate superior risk-adjusted returns for investors by investing in a portfolio of hedge fund strategies (relative-value, event-driven, hedged-directional) and will attempt to enhance returns through a venture capital structure in the underlying hedge fund managers: Investing in Prop-Trading desks and Hedge Fund Croups. Taking operating interest, participating in mgmt fees and performance fees. Only 3 funds left in portfolio: Blueharbor, Rosegrove, Stylous Quellos Private Capital 2002, LP. (US MHZ MBZ 19967nrit, MBZ 1983 Quellos Private Capital 2002, L.P.is a multi-manager investment fund organized as a Delaware limited partnership, which began operations Mature) Family Trust in the first quarter of 2004. The Fund's objective is to generate superior risk-adjusted returns for investors by investing in a portfolio of hedge fund strategies (relative-value, event-driven, hedged-directional). PE FOF Investing in mature company and venture interests only. 38% LBO, 9% Distressed, 3% Mez, 3% SS, 46% Venture Capital. QueEos Private Capital II, LP. Seix MBZ MBZ 1996 Trust, MBZ 1996 Trust Quellos Private Capital II, LP. is a multi-manager investment fund organized as a Delaware limited partnership, which began operations in (Non Exempt) the first quarter of 2004. The Fund's objective is to generate superior risk-adjusted returns for investors by investing in a portfolio of hedge fund strategies (relative-value, event-driven, hedged-directional). PE FOF Investing in mature company and venture interests only. 40% LBO, 8% Distressed, 6% SS, 44% Venture Capital. MBZ, tilB2 1996 Trust, MBZ 1996 Trust The Investment Advisor will actively manage the portfolio with the goal of achieving favorable long term, consistent performance at (Non Exempt), MBZ 1983 Family acceptable risk levels by investing in a divetsified portfolio of Investment Grade and High Yield Bonds. The portfolio will not invest in: (1) Trust, USN College Marketing Inc., Common Stock, (2) Derivatives, (CM, Futures, Options, etc.) and (3) Convertibles. In addition, with the exception of the US. Government, MBZ Crut, USN Out Federal Agencies, and Government-Sponsored Enterprise, the portfolio will not (1) Invest more than 5% of its assets in the securities of any single issuer or (2) invest more than 25% of its assets in any one corporate sub-sector. The investment objectives of the SEIX bonds: (1) Investing in taxable Corporate Bonds (2) Realizing Akekslute Return Templeton Global Bond Fund MHZ 1996 Trust (Non Exempt) A mutual fund that seeks current income with capital appreciation and growth of income by investing predominantly in bonds of governments and government agencies located around the world. The fund's quantitative and qualitative analysis is supplemented with on- the-ground research, leveraging the resources of local analysts around the world to identify investment opportunities and risks that a solely US.-based manager might miss. Research efforts focus on rigorous country analysis to identify economic imbalances leading to value oppottunities in currencies, interest rates (duration) and sovereign credit. MorganStanley SmithBarney 147 EFTA00283599

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Templeton Global Bond Fund US Trust (BOA) • Money Mkt Valor Equity Partners IL LP. VSSComunications Partners IV, L.P. Entity MBZ, MBZ 19% Trust, MBZ 1996 Trust (Non Exempt), MBZ 1983 Family Trust, USN College Marketing Inc., MBZ Crut, USN Crut MBZ USN College Marketing Inc. MBZ MBZ 1996 Trust, MBZ 1996 Trust (Non Exempt) Description The Fund seekscurrent income, with capital appreciation and growth of income, by investing at least 80% of its net assets in bonds of governments and government agencies located anywhere in the world. Quantitative and qualitative analysis is supplemented with on-the- ground research, leveraging the resources of local analysts around the world to identify investment opportunities and risks that a solely US.- based manager might miss. Research efforts focus on rigorous country analysts to identify eoonomic imbalances leading to value opportunities in currencies, interest rates Cash account, benchmarked against the Citigroup 90 day T-Bill Valor equity partners II LP. Is a Delaware is a Limited partnership formed pursuant to and in accordance with the Delaware revised uniform limited partnership act. The partnership was organized for the principal purpose of (a) investing in securities of the kind and nature described in the parinershipsconfidentad private offering memorandum, (b) managing and supervising such investments and (c) engaging in such other activities incidental or ancillary thereto as the general partner deems necessary of advisable. VSS Communications Partners IV'scombined financial statements include the financial statements of VSS Communications Partners IV, LP. ca. VSSCorrununications Parallel Partners IV LP. (the "Parallel Fund"), and VSS Communications Parallel II Partners IV, LP. (the "Parallel H Fund," and together with CP IV and the Parallel Fund, collectively referred to as "V% IV" or the "Partnership"). Then) are no intercompany balances within the combined financial statements. CP IV is a Delaware limited partnership formed pursuant to an Amended and Restated Limited Partnership Agnzement (the "CP IV Agreement") dated as of September 27, 2004 (the date of initial closing and inception of CT IV). The Parallel Fund is a Delaware limited partnership formed pursuant to the CP IV Agreement and an Amended and Restated Limited Partnership Agreement (the 'Parallel Fund Agreement") dated as of September 27, 2031 (the date of initial closing and inception of the Parallel Fund). The Parallel II Fund is a Delaware limited partnership formed pursuant to the CP IV Agreement and an Amended and Restated Limited Partnership Agreement (the "Parallel II Fund Agreement," and together with the CP IV Agreement and the Parallel Fund Agreement, the "Partnership Agreement") dated as alpine 30, 2005 (the date of initial dosing and inception of the Parallel II Fund). Pursuant to an amendment to the Partnership Agreement, which was approved in February 2006, the Outside Date was extended to April 30, 2006. The investment objective of VSS IV is to achieve long-term appreciation of capital contributed by the Limited Partners and the General Partner (together, the "Partners") of CP IV, the Parallel Fund and the Parallel II Fund through emphasis on investments in middle market media, communications and information ("Media") companies primarily in North America and Europe. The performance of VSS IV may be affected by economic developments within the media industry. The general partner of VSS IV is VSS Equities IV, LLC. (the "General Partner"). The managing members of the General Partner are John J. Veronis, John S. Sadder, Jeffrey T. Stevenson, Maroc, Sodi and Scott J. Troeller. The statement of changes in partners' capital presents separately the interest of the General Partner and VSS Waiver Entity LW. The following brief description of the Partnership Agreement is provided for general information purposes. Partners should refer to the actual agreements for more complete information. The terms of the CP W, the Parallel Fund, and the Parallel II Fund Agreements are substantially similar in all material respects. All capitalized terms used herein, unless otherwise defined herein, shall have the meanings ascribed to such terms in the CP IV Agreement, the Parallel Fund Agreement, and the Parallel II Fund Agreement. MorganStanley SmithBarney 148 EFTA00283600

Mortimer B. Zuckerman and Related Entities Descriptions Of Investments For MBZ And Related Entities Fund Z CAP -Money Mkt Z CAP -Money Mkt Entity Description MBZ MBZ 1996 Trust, MBZ 1996 Trust (Non Exempt), MBZ 1983 Family Trust, USN College Marketing Inc., MBZ Crut MBZ MBZ 1996 Trust, MBZ 1996 Trust (Non Exempt), MBZ 1983 Family Trust, USN College Marketing Inc., MBZ Crut Cash account, kenthmarked against the Citignmp 90 day Cash account, kenchmarked against the Citigroup 90 day T-Bill MorganStanley SmithBarney 149 EFTA00283601

Mortimer B. Zuckerman Disclosures This performance report has been prepared for informational purposes only and is not intended to be a substitute for the official account statements that you receive from Morgan Stanley Smith Barney LLC, or other third party investment managers or custodians included in this consolidated report. The information in this report is approximate and subject to adjustment, updating and correction and should not be relied upon for taking any action without first confirming its accuracy and completeness. Morgan Stanley Smith Barney LLC is not responsible for any clerical, computational or other inaccuracies, errors or omissions. Morgan Stanley Smith Barney LLC obtains market values and other data from various standard quotation services and other sources, which we believe to be reliable. However, we do not warrant or guarantee the accuracy or completeness of any such information. The values that a client actually receives in the market for any investment may be higher or lower than the values reflected in this report. The values of securities and other investments not actively traded may be estimated or may not be available. To the extent there are any discrepancies between your regular account statement and this report, you should rely on the regular account statement. Market values displayed in a regular account statement may differ from the values displayed in this report due to, among other things, the use of different reporting methods, delays, market conditions and interruptions. The figures in this report may not indude all relevant costs (i.e., fees, commissions and taxes). The information in this report should not be considered as the sole basis for any investment decision Past results are not necessarily indicative of future results. Historically, broadly diversified portfolios have produced gains and losses due to changes within the equity, interest rate, credit, currency, commodity, and related derivatives markets. Additionally, gains and losses are impacted to varying degrees by investment acumen, market volatility, corporate activity, security selection, regulatory oversight, trading volume, and money flows. These elements and/or their rate of change may not be present in the future and thus firture performance may be impacted. The information contained in this report is not intended to constitute investment, legal, tax, accounting or other professional advice. We recommend that clients contact their tax advisors to determine the appropriate information to be used in the preparation of their tax returns. For securities not purchased through, or custodied at, Morgan Stanley Co. Incorporated, any data or information included in this report has been derived or provided either by you or another financial institution, for which we are not responsible. To the extent that positions are not custodied at Morgan Stanley Co. Incorporated, they may not be covered by SIPC. This Performance Report reflects Corporate Actions (such as dividends and stock splits) as soon as they are declared with respect to the underlying holding rather than when received in order to ensure that your portfolio more fairly reflects your net asset position at all ti»ws. The corporate actions are based on information supplied to us by third party sources, for which Morgan Stanley Smith Barney LLC assumes no responsibility. Charts and graphs are for illustrative purposes only and are not intended to represent the performance of any Morgan Stanley Smith Barney offering. Investments and Services of red through Morgan Stanley Smith Barney LLC, member SIPC. In some awes, this report may show the combined performance of brokerage accounts and advisory accounts. Accounts in this report may have had different investment objectives, been subject to different rules and restrictions, and incurred different types of fees, mark-ups, commissions, and other charges. Benchmarks included in this consolidated report may not be the ones primarily associated with the investment objectives of the account(s) and »my be used for informational purposes only. Accordingly, the performance results for this portfolio may blend the performance of assets and strategies that may not have been available in all of your accounts at all limes during the reporting period. MorganStanley SmithBarney 150 EFTA00283602