EFTA02470287.pdf

"From: jeffrey E. Sent: Tuesday, March 8, 2016 4:15 PM To: Richard Kahn Subject: Re: New Issue $25 Par. AmTrust Financial Services"

"On Tue, Mar 8, 2016 at 11:14 AM, Richard Kahn wrote: working on it now and it will take all=day - hope to have rough draft late this afternoon"

"From: Atlas, Andrew S Subject: New Issue $25 Par: AmTrust Financial Services Date: March 8, 2016 at 10:13:33 AM EST To: Richard Kahn"

"Richard Kahn HBRK Associates Inc."

"Andrew S. Atlas First Vice President Financial Advisor Morgan Stanley Wealth Management"

"attached was sent from both Morgan Stanley and Wells Fargo"

"attached was sent from both Morgan Stanley and Wells Fargo"

"working on it now and it will take all=day - hope to have rough draft late this afternoon... cash flow?... ok thx"

"Want to show STC another new issue preferred that Morgan Stanley is pricing today."

"It is the property of JEE"