EFTA02342705.pdf

"Eileen Alexanderson Elysium Management 445 Park Avenue"

"From: Richard Joslin <[email protected]>"

"From: Eileen Alexanderson Sent: Thursday, November 20, 2014 8:54 AM To: Jeffrey E.; Richard Joslin Subject: timber"

"From: Richard Joslin <[email protected]> Sent: Thursday, November 20, 2014 2:23 PM To: jeffrey E. Subject: FW: timber"

"The information contained in this communication is confidential... It is the property of JEE"

"Timber update- no better bids came in. Best bid is a 15% discount on the 6/30value = to $16,125,588... I asked Rich D. to tell me what our basis in th"

"fee to Eaton is 100bps. This note was to update you on pricing... Eaton Partners believes there may be a few addl % pts they will be able to extract."

"No proposed distribution at year end since we received $281,013 on both 3/27 & 9/30/14."

"No proposed distribution at year end since we received $281,013 on both 3/27 & 9/30/14."

"I sent the same update to Leon asking if he is agreeable to a bid at this level."