heir portfolio, we prefer timberland for its long term-growth prospects and low correlation to financial assets. Paul V. Morris Managing Director | The Morris Group Private Banking & Investment Group Merrill Lynch, Pierce, Fenner & Smith, Inc. Bank of America Tower | One Bryant Park (28) New York, NY 10036 BS

have to live outside of town to serve higher-income people in town.” HOUSE_OVERSIGHT_016418 --- PAGE BREAK --- Paul V. Morris Managing Director — The Morris Group Private Banking and Investment Group Bank of America Merrill Lynch One Bryant Park, 28'" Floor This message, and any attachments, is for the intend