EFTA01082455

To: Huteher, Ble Front tee, David Notes Tax advisor, was Just forwarding ryl Massage— Front Nubs r 06, 2006 6439 Pet To: Lee, David Subject: Re: Jeffrey When am they b and Wu do we want themto -her, Else Sent: Wednesday, rreet7 lbw tire try !tact:Berry WireleSS Device —0rIghal Message---From Lee, David lb: Cutler, Lawrence 0.: 1:43 2006 SUtdect: FW: Jeffrey liubser. Bse Sent: Wed Dec OE Redacted for Privilege it 4.• : • . • !I 4nrtiee nAndtl-Pi- A000S , COMmerar- v• ` Vt l f1 1 :4 :4:» Thank you for you: Interest in D.B. AWn &Co., LP. Attached please find the frost recent kvestor Fund, L P. Best Regards, D.B. Dan &Co., LP. 745 ~Avenue, 10th Moor New camentary for the le.& Zan Special Opporbettlei York NY 10151 (646) 720-910) Phone (646) 720-9000 Fax IROdtata.odin Mar r siaz igtafirt~I*030 0i9aftrldiadiretIlliag ••• 1," ' t '4'4.. • r ; bilte • Attached please find an Wportant formats . Dort that was sent to Me Shareholders of the 2Vem Spa . dal Opportunities Fuld, Ltd. This conwunkatbn fa your hfornetlen alt/ and requteS no action as your part. We val serf a slit bon applicable to the united P Specal 0000rtun es Mal?, eta- Zwirn Attached please find an Important comrunIcatbn regard • later than May 22, 2009. Investor: il ls be rerrinder that consent forne mat be received before Mena SianMay 22, 2009. X you would lice to discuss the consent, puma tadIreitto contact Elsa Hubsher at Thank you, D.B. .~4 e. fr .U:4400 140 1: 0 0 4.1k 444. . .. . , ¥tkikiSt a 104,44iattaan$ 11 000 Dear Investors We have not remised your mnsent tomt Thisbe renaura they mat be naked before re you Vottlid leas to discuss the consents, plasm feel free to contact elm Hutdber atffifflffil 10= aan New York drre on May 22, 2009. lhank yolk D.e. aWn &Co., LP. .tialOttr.ki 01— : ,.. J--..,-4/ 0g.iik0fit(0 41! 0PANISibitlea Sitt!e*I5SS° F Ciminl ik äitin - '''' ." ' ' ' Dear Investor, We ore pleased to kronaYou that 10;00 AM today, the deadine for subrathg proocies in respect et the notices sent to Wan= h It each of D B. Zvelm Special Opportunities Fund, LP., Zwtn Special Opportunties Fund, Ltd., D.B. ZwWn Ada/Pacific SpeckIOpportunties Fend, LP. and Zwlrn Speclal 0pportuntles (TE) Fund, LP., we had reoeked a suffgent nuntero les for each fund to constitute a quorum and to approve the us nutters for which consent was requested h connectq&Wth the replacement of Zbilin &Co., LP. as Westmont reneger to the funds with an aftilate of Fortress Investment Group B.C. We note that, for Avkn Sbedal 0pportu Fund, Ltd, the vote wt be Treece at the shareholders' meeting scheduled for May 26, 2009 and, once fretted, we ex nagenent of the funds we be transferred to Fortress at the cbsktg pursuant to the transaction Moments described In the ccosent documents. We would lice to thank all hvestors b the Funds for their thoughtful nutters related to the transactbn and bolt tamale to our =Unwed Support as we mete the transition. Regards, as Avkn lkconstderatbn Co.,L P. of al ;åa Notes: Tried calling but no one answered. Notes: tis- JE 1k 10pm Mark Devitt called David Endycic JEt attorney Jeepers, Inc. Activity Confidential VRP 00000001 EFTA01082455 Redacted for Privilege *******411.1. 4.* OW* V* 4.4.• .14.• SO• 11*******1141**Wini *11allIDILIF/Mr4 U.S. lteasury Circular 230 Notice: My U.S. federal tax advice heluded h this communization was not intended or written to be used, and came( be used, for the purpose of avoiding U.S. federal tax penalties. al*. • *114.41Mnsn. •*an NOTICE This e-rrel message ls Intended only for the named redpent(s) above. It may contain confidential hiormation that is privileged or that constitutes attorney work product. If you are not the Intended recipient, you are hereby mitred that any dissenination, distrbution or copying of this c-neil and any ettachrent(s) Is strictly prorobted. If you have received this e-rrall in error, please kmedetely notify the sender by replying to this a-nal and delete the message and any atbschrrent(s) from your system. Thank you. ataya *et ..taaSsin &19tAhrtll EstIMaiea(kiiageit ei;t04 from WoykOwsiti,!Tallah received on 5/6/2005;11638 PM) Notes: Front Vloykchski, Tallah T Subject: Da Zwtn & JCIC Aprl Estimates Cody: rain, Fee recent/I: started working wan Allison on Investor Ftetatbns here a . Alison has asked nit to mated you watt an Aprl estimate for our funds. A rough conservative esthete for net perfamence h the n Special Opportunties Fund, LP. for the marsh of April 2005 k +100bps. A rough estimate for net perforrtence h the JCK Partners, L or the month of April 2005 6 -1.6%. Please let me Wow r I can be of a fu r assistance. o. ., . . .. ., 3.10205:400.6•'• • - DEAZ•freseptdd by-Financial Trusbcoropany . ..., . (bgged: ' , „ . "Talidllf,ifiliViann20/2005 lir 114054 AM). , Notes: Front Woylawald, Tata h To: harry Beier (h.I.III; CC: Subject: ORZ fees pail by Financial Trust Company Body: Mt. Polar, As you request° Scsee below. Please let us know r nit an eke. Taaah V/ov Relations WIn &Co. Law, UMne Sent: Wednesday, July 20, 2005 11:40 AM To: Woykowsld, TabhCe: Grist, Peny Subject: RE: Urgent F Conpany 2004 management fees $1,262,140 2004 Incentive fees $2,756,039 2005 thru Jule novae feeS $1,049,413 2005 Marne hey fees $1,454990 7,4474005. . • - :- -..-*LISt l yj, ,;:jjszi,.,, ;2'44 •I l, • ;,• l••t• •••'.• : "' Itlfiajci• t, : . • 'l• •: tc.- :•-•.!l. '. 0'1 • • Notes: Front Woykowsid, Talbh To: WOylevald, 760M1CC: Grins, Perry Subject: RE: Urgent Body: remade! That Company 2004 management fees i $1,262,1402004 inmate fees $2,756,039 2005 ttru June mgrrt fees $1,049,413 2005 tiro June trey fees $1,454,990 Front WeYkOwSki, ; Tallah Sent Wednesday, July 20, 2005 11:33 AM To: Law, U Anne Ce Gruss, Peny Subject: Urgent Importance: ugh U Anne, ihrry Belerjust called agait Apparently, P, is urgent that he find out what Fhandal Trust Conpany has paid h rranagerrent and performance fees for 2004 and 2005. Is there any way '1 MIL i Zwkn &Co. v- e •4::.:: -, W:1; . -iik4... ti.f„ ,..m.pc; ,rs- :.;5,11.:.. -: ry- • ,*:;,;;.--.. , i Notes: Front Alirronsky, Alison To: 'Hwy Baler (henyeanysglc.com)' CC: AVMS, MOW 9Mect DU IFS Bray: Kt. Beier, I understand that you ! recently spoke wth Mark Bkindrol of JCK Partners, and that he provided you vvith JtO pertontance and caphal account balance hfccnetbn for Mandel Tiust's3CK hwestrnent. As he mentioned, we have cerdrated Investor Relations for both DM and JCK wth Arson and I so please feel free to contact one of us next month when you need these nutters. Take wanted to mention that CSZ dots not yet have a Jul,' performance °iterate or capital account balance for Financial Trusts bwestment. We general/ have a very rough petforrrence esthete by the 5th business day of the month, which I can provide to you over the phone, and a mare (hated esthete 10.15 business days Vito the rronth which Is dissemhated via erreL Captal account balances are generated afteance has been fluted, and I amatse to provide you wth those numbers as soon as they become available. Please let r tow ow if you wish to be with a rough perforrronce esbrrate once we have one. Thank you for your the and I look forward to speakttg with you soon. lotions D.B. Zwin &Co. Confidential VRF 00000002 EFTA01082456 Notes: Front Woybowski, TorahTo: harry Beier' CC: Atmansky, AByson Subject DeZ es Body: Mr. Beller, I understand that you recentk/ spoke with Mark element of IOC Partners, and that he provided you wth July performance and medal account balance infatuation for Ftsandal irises /CK investment. As he mentioned, we have cetranzed Investor Relations for both DE2 and 304 wth Alyson and 1so please feel free to contact one of us next month when you need these numbers. lobo wanted to mention that OBZ does not yet have a lull perforrrenoe estWete or capital account balance for FinancialTrust's hvestrrent. We generaty have a very rough perforrrence estimate by the 5th bigness day of the month, which I can provide to you over the phone, and a more flnated estimate 10-15 business days Ito the month when 8 disseminated vla ens/. Capital account balances are generated after performance has been finalized, and I am** to provide you with those numbers as soon as they become avallabb. nesse let rre know If YOu wish to be contacted with a rough performance esthete once we have one. Thank you for your time and I look forward to ' wth ou soon. tiers D, B. Zwirn & Co. August 08, 2003 PW: DB ratrn Special Opportunities Fund, Notes: Front Alirronsky, Alyson To: IMIMMI CC: Subject: FW: ce Zwirn Spedal Opportunities Fund, lP Body: Harty, Here are rough approximations for DB 2eIrn. lam wattiv for numbers for JCK Partners- lyre send them to you as soon as I have them Thanks, Alyson Front Law, U Anne Sent: Monday, August 08, • • nsky, Alyson Cc: Crunched, Mark Subject: FW: DB Zwkn Special Cpportuntles Fund, LP Attached Is the statement el 6/30/05. Bebw eserrate for the 6 months ended June 30, 2005 Dividend Income 24,779 Interest Income 7,408,366 Short TemiCapkal Loss 642,969 penses (236,459) Management Fee (839,532) Unrealized 1°55(1,169,649) August 19,2005 RE address (logged a-mall from Harry Beier received on 8/29/20051136de AM) Men Front Ma Beier < • oylcorski, Tallah CC: Subject: RE: address Body: Talah My address K: New York Strategy Group New York NY 10022 Att: Harty Beller --Original Message-- Front Woykowskt, Tallith (mato:tab . : u y, August 18, 2005 6:10 P14 To: harriOnysenctomSubJect address Mr. Beier, Could I trouble you f r ur nu address? Thank you tons EL& Zwim & Co. This e-rrall treSsage IS , re hereby noteled that any use, dissemination, restrioutIon or copying of this rind and any attachnent(s) is strktly proltlted. Zwim & Co., LP. reserves the right to archive and rroNtor an e-rrull connunIcations through ts networks. If you have received thls &mai in error, se ennead* notify the sender by replying to this e-mail and delete the message and any attachnent(s) from your system Thank you. August 19, 2005 RE: address (logged e-mall from Harry Beller received on 8/19/2005113614 AM) Notes: Front Kerry Beier NMI= To: Waylowsld. Tallish CC: Subject: RE: address Body: mlah My address is: New York Strategy Group New York NY 10022 AU: HarryHarry Beier --Original Message--- From: Woyk,wsld, Tabh [nollto:talia.v illrll ss tillii rceconi i riursday, August 18, 2005 6:10 PM To: hany@rrtsgb.com Subject: address Mr. Eder, C I trouble you for our rra . address? Thank ou a v liens Zwirn & Co. Ties e•rm massage Is int . . e e rec p , hereby notified that any use, dissemination, distribution or copying of this e-nut and any attachmant(s) is strictly prohibted. 0.B. 2w1m &Co., LP. reserves the right to archive arid monitor al e-mail corrrnimicatbns through ts networks. If you have received tNs e-nal in error, please nyrediately notify the sender by repaing to Oa e-mailand delete the message and any attachrrent(s)fromyour braless. Thank you. August 31, 2005 FTC 7/31Cap Acct Balance eel e-maii from Waykowski, Tallith received on 8/31/2005 1:2301 PM) Notes: Front Woykowsld, Ta 0:11arry Beier ( CC: Subject: FTC 7/31 Cap Acct Balance Body: Mr. Baler, As you requested, the cartel amount balance h the ZWim Special 0 put un s w , for Financial Trust Company as of 7/31/05 s about $106,025,987. Please let ne blow NI fan be of env froths arxe. lxsmh Wovkows mJInvestor Relations D. 7ivin 8 Co. 745 Filth Avenue, September 08, 2005 D.B. Zwlrn Special Opportunities Fund,— Management end incentive fees (logged e-mail from Law, LI Anne received on 9/8/200512938 PM) Notes: Front Law, U Anne To: Mit d n: CC: AlirrenskY, Neson; Woykowsid, Talrah Subject: eee Zwirn Special 0pportunties Fund, LP. -- etanagement and Incentive Fees is : Mr. thru Jut/ 2005. The accrued Incentive a November 02, 2005 DB Zwim Info : As requested, the Mandan That Company ice or this period Is $ 1,830,240 1,232,813 in managerrent fees MenIan 2005 e-mall from Milnerisky,Allyson received on 11/2/20057,4936 PM) Notes: Front Aerrensicy, Alyson To: miguipmentC: Subject: DB Zwlm 'nfo Body: Harry - here IS the info you requested: Below breaks-Out 'Mont estkrete for the 3 rronths ended Sept 30, 2005 (an net of attentive): Dividend Income 1,032,288 Interest Income 3,063,767 Short Term Captor Gain 996847 Fund &parses R13,286) Manage (447,806) Unrealized 1C6S (20,841) November 02, 2005 RE Larry Beleller emiall from Law, U Anne received on 11/2/2005 657$)8 Pie) Notes Front Law, U Anne To: Aarransky, Alyson CC: WoykovisIci, Talah Subject: RE: Harry Beller Body: Hera the Info that he usually requests at the end of the quarter: Below breaks-out hone estimate for the 3 months ended Sept 30, 2005 (al net of incentfve): ONIdend Income 1,032,288 Interest frame 3,063,767 Short Term Copal Gain 998,847 Fund expenses (213,286) Management Fee (447,806) Unrealized loss (20,841) Front Alirransky, Alison Sent Wednesday, November 02, 20054:33 PM To: Law, U Anne Subject Harry Beller Bony Beller from Financial ins wens estruted tax amount - 0.3 you have this? Ms number h a or you tan give Into to rte and I am happy to cal Not thanks January 00, 2006 Rnanctal Trust Company To: Alrrensky, Aeyson; Woykowskl, Talah; Cho, Justh Front Bunten(, Mark Notes Mr. Beier Caled ore for the captal balance ln the JOC Onshore find. I provided the December 30 erring capital balance verbally. s a new end address: HYPERLINK 'Web: mat mat ------ Mark3. Blanchini CK Partners LP. Avenue <neRo: January 09, 2006 RE: Firiancial Trust Company Confidential VRF 00000003 EFTA01082457 TO: Elandalni. Mark; Abrensky, Abson; Cho, Justin Notes: FYI - Mark transferred Mr. Beier to ere and I advised that captal account halanceS for D8Z were not yet ready and provided him with arrant rough esti-rote. I have updated the database and distribution let vigil* new wag address. Thanks Mark. Talah W kowsb investor Relabns 0.8. ZwImILCO. Phone: <rrelo. n, „ . . risky, Allison; Woylowsli, Tallah; Clio, Justin Subject: Financial Trust Company Mr. Beier Cakd rte for the caplal babnoe h the JCKOnshore fund. I provided the Cecerrber 30 ending He also stated that he has a new erreII address: HYPERLINE ------ January ', nnua nvestmen :oat on c no o (men •r Wm fax 2-10.06 To: Woykowsid, Tallah Front rAxcom Fax Server Notes: <fileihWibzco.conLglobataucahsharedbpecopps\Investor Relationsiinvestor Correspondence Flnandal Trust Con'panYLFTC Annual Dwestnent Classification Ack 1.10.06.pdf> FAX:DM RECEIVED FAX REPORT -- Received Tare : 01/10/200616:32 Result : OK Description : Al pages received OK Reset Code : C000 Pages Received: 0004 Bad Pages : 0000 Remote TSI : Connect Tire : 0064 Seconds Fax tree : 3 Routing ID : 9226 Baud Rate : 14400 Bps The fax is laded as a PDF attachment. January U, 2006 digi eZilLm Seidel Opportuntles Fund, LP. - Q4 PM Letter To: Front DEC & Co. Investor Relations Notes: Dear Harry, Attaded please find Inportant correspondence regarding 2005 New York State sourced Intone and the possibity of fling corrposte tax returns h certain states. For your convenience, there are separate attachrrents relating to New York State sourced incorra for sada of your entitles invested in 0.8. bairn Special 0 Fund, LP. Please note that this is dated motorist whit nay require action by January 15, 200S. Thank you for your tent land Regards, Zwim &Co. «conposte return Ptter.pdf>>«CT-26S8 -E for 2006,tea» «IT-2658-E for 2006ff.pdf» cnie://Vdbzco.conlebbaabca Mho prsbnyearor Rebtionsbnvestor CorrespondenceVinande Trust Conparaghancial Trust Company Q4 MI Letter.pdf> February 06, 2006 Ca peal Account Balance for FinancialTrust Company To: AIFIRECC: Alimansky, Alison; Woykowskt, Talbh Notes: Mt Bever, The oaptal account balance for Financial 'Rust Conpany, Inc. as of Dece r was about 3114,379,190. Please let is know if you need anything else. Thanks. Best, Justin Justin Go MEL '2Wirn &Co. 745 Fifth Avenue, 18th Fbor New York NY 10151 tel: 646.720.9198 fax: 646.720.9098 enell: HYPERUNK 'trettoldtedbzco.cornrychoOdb7co.com <rrefloicholittozoo.com> February 06, 2006 Centel Account Balance for Financial Trust Company To: CC: Akrensky, Allison; Woyirowski, Talah Front Cho, Justin Notes: W. Beier, The capital account balance for Financial Teat COnpany, Inc. as of Decenter 31, 2005 was about $114 379 190. etase let US Mewl( you need anything eke. Thanks Best, Justin Justin Cho D.& Zwirn &Co. HYPERLINK Air' 14, 2006 ■ Zwiro Spodal Opportunities Fund, L.P. - Qs Tax Information 0:01.1.1tront To CM &Co. Investor Relstions Notes:<flic:/ralobalSbcal\shared specopps OperatiortAAccountIng‘TaxN,2006 Q1 2 rs no-I:M illet Co Q1 06 NA'S letter.pdf> Dear Harry, please find irrportant correspondence regardng 2006 New V State sourced Incorre. Please note that this is dated material, whth nay recap action by Aprl 17, 2006. Thank you for your tire. 101dRegards, 2ivin & Co. Apra 18, 2006 &pia nation for Distribution on K-1 To: CC: Altrrensky, Akison; Butchkowskl, Aka Notes: Mr. Beier, I tried to cal your office and understand I deed you for the day. received your massage and wanted to get back to you regarding the dbactuten noted in tern 19 on the 2005 Schedule K-1 for Financial Trust Conpany. Move spoken with our Accounting Department and they confirmthe $9,805 is a N1 State Tax Warle:ling that we pay out on behat of FM. i These types of pay-outs are noted as a redemption or detraxalon. If this does not seem right, please let ire know as soon as posse* and we we get tri touch w Relations audtors to confirm (tither detals. Thank you for your time. brim 4 Co. 745 Fifth Avenue, 17th Floor New York, NY 1.0151 Phone: 646-7204326 Fax: 046-720-9226 HYPERLINK Tabh WaykOvisil Investor -rreito:ta woybowsladbzco.conftatah.veybowskagdinco.com eireltoaabh.w0Yilowsi00802ce•coni, Apr' 27 2006 Call Harry Beller: 212-750-1176 To: Bi AAka Notes: Harry Eider Ls assodated wth our brgest LP investor, Financial Trust Cowpony. He has a few questions regarding the K-1 .rn they arece . not sure I've got themal, but bastraPy he wants mare hformaten about the ?Glowing. Could you (or David) call hen to dimes and resolve aSapt Thanks so nude, -guaranteed payments/self errpbynent -DS Treasury Interest - he cant !lad on K-I -what kW of PFIC boom and how dots it affect Wm? -schedule of taxes for other states besides 141 -WC UST Tax and where is that reflected Tallah W HYPERUNK June 06, To: labellerganysgmatcorrf Front D82 &Co. Investor Relations Notes: <fat/ Volobahliacalishared\specopps\OperationslAccountIngWar42006 aQ2 2006 UST\PDF letters-VinancialTrust Company Q2 06 MS letter.pdf> Des [te se fad important correspondence regarcaig 2006 Q2 New York State sourced incorre. Please note that this a dated rreterial, which nay requirer by June 15, 2006. Thank you for your time. hind Regards, D.B. Zwen &Co. July co, 2006 Financial Trust- Mr. seller To: Woykowsid, Talon CC: Cho, Justin Front Olonclent MAC Notes: Talah, Would you be able to five Mr. Beller a call when you have a chance. tie a a ot w r ---•— ---- — Mark I, EfonchinliCK Pa September 11 2006 .2wirn Special Deport a Fund, LP. - - ox Or m rt To: •At Oa &Co. Investor Relations Notes: <file:/Aiitzco.Oonaglobalbxafi,SharecaspecoppPOperattnslACCounting\Taxl2006 \Q3 2006 DST\Fix- Lettersfmends' 'Pest Company Q306 NYS letter.pdf> Dear Harry, Attached phase find hportant correspondence regarding 2006 Q3 New York State sourced incorre. Pease note that this Is dated material, Mach nay require action by September 15, 2006. Thank you for your the. Kind Regards, D.& ZivIrn &Co. Confidential VRF 00000004 EFTA01082458 October 24, 2006 Q3 Tax Breakdown - NYS To: hbellereermsgrnaM Notes: efile://1\dbeco.corriobbaelocalkharediepecoppsdnvestor Rebtions\lnvestor Correspondence\Fhancial Trust Company \Copy of Finance!last Cormeny Inc - Q3 2006. xis> HI Harry, Please see the attached breakdown of your NYS sourced income as indicated in the Q3 letter. I hope Eva was able to provide you with the intense:non you were boldng forlgyrCwer, feel f roc Cara Howe `` Zwirn &Co. etelito:card.howeeidbz opy of Fhandal Tnut Curyany Inc - Q3 2006a» October 24, 2006 RE Harry Paler tax from Eve To: Howe, Cam CC: Warren, Otford; Woykowskl, Talah Front So, Eva Notes: Cara, Henry Beter asked ne for a breakdown of his NYS sourced income as Indicated h his Q3 letter este . I hair as d eakdevm. Please take a bole and send the infometion to him today. Hs eHrei actress's HYPERUNK ' I just think t k mote appropriate to send the infomiatbn through kwesto s re atbn c sea hg I directly rem tax epsrtrrei ease et ire know f you have any questbre. Regards, Eva From Howe, Cam Sent: Monday, October 23, 2006 6:56 PM To: So, Eva Subject: Hany Beier tax <HYPERUNK lie://dbico.conorglobsieccaeshared/speco 0 rations/Accounting/Tax/2006/Q3942020069b2OLIBT/PCf%20Letters/FtnancePAZOTIust%20CorreanY% 20Q3962006%2ONYS4620letteepdfTie: negbbaebcallshamd1sIlecoPPsWeeratbnsiAcoountbsg‘Tax12C061G3 <111e://dbeco.corregioteebiaCshared/seecop ratiens/Accounthrex/2006/Q3%2020069420LIBT/PDP1620Letters/FhanceilielOTrust% 20Company3620Q3462006%2ONYS%20etter.prif> 2006 UBINPOF rseanancial Trust Conant Q3 06 NIS letter. f> Cara Howe Nan & Co. 9652 HYPERUNK - Q3 2006. xk» November O5, 2006 Q3 2006 Capital Account Statement for Financial Trust Company To: =RN Notes: elee://..peglobaebcaeshared specoppe OperatIonsiAccountingInvestors\Onshore Staterrents 2006\2006 Q3 Statements en-ent LP nisi nerve 06 Fhardal Trust Company. pdf> Attached please find the 2006 Q3 capital account Stateme investment in tee D.& been dal 0 rtunities Fund LP. Please feel free to contact us if ou have an cations. Vows truly,D.& Zw LP. ttachments: «Us nisi 3 200 December 06, 2006 RE:Jeffrey To: Hubsher, Erse Front Lee, David Notes: Tax advisor, was just forwardng fyl --Orighal Message-- Front Hubsher, Else Sent: Wednesday, December 06, 2006 6:39 PM To: Lee, Davkl Subject: Re: Jeffrey When are they In and who do we want them to nett? How ouch tree ----- — - ----- -- Sent from ny elacidderry Wireless Cevice --Original Message---- From lee, Devil To: Cutler, Lawrence D.; Hubsher, Elise Sent: Wed Dec 06 18:01:43 2006 Subject: FW: Jeffrey Redacted for Privilege December 28, 2006 Assignment form for the 12/31/05 full transfer from Financial Trust Company Inc. to leepere Inc. via Fax To: Woykowslil Taltah Front FAXCOM Fax Server Notes: FAXCOM RECEIVED FAX REPORT -------- Received Tine : 12/28/2006 16:78 Result : OK Description : Al pages receieed OK Result Code : 0000 Pages Recelied: 0005 Bad Pages : 0000 Remote 151 : 212 371 8092 Connect The : 0072 Seconds Fax he : 3 Routing ID : 9226 Baud Rate : 14400 Bps The fax is Laded as a POF document attachment Attachments: «Ii6G1_0612282130150176.pdf>> December 28, 2006 DB2 Subscription Documents for Financial Trust Company To: GIMASSOCtiao/com CC: CIGESQQeolcone Lebowitz, Seth Notes: Damn and George, Per the request of Seth Lebevnts, attached please frid the May 2002 Auction &currents for f Kemal Trust Company, Inc. and Want subsaption documents to be competed for confer from finance' best Inc. to gee Inc. Please let ire know f you have any gumless. Rego ' Relations Zwim &Co. Attadure . «Finandal Trust December 28, 2006 FW: Revisions (SL provides email addresses for attorney and tax accountant) To: Whte, Nicole Front Lebowitz, Seth Notes: here t k. the sub dots goes to both non-DB2C0 addresses on Drs e moll below. Their harms are Darren Indy Ice and George Delson, and they are the attorney and tax accountant, respeolNey, for the Wester (not sure I Yy ttii need this to the JR database, but t). thanks from Proshan, David Sent: Wednesday, December V, 2006 6:43 PM To: Cc Lebovitz, Seth Subject: RE: Revbions Darren and George: Please see the attached, which is marked to show the changes to the prior draft. The document k subject to our continuing review (ince:ding on tax netters). Seth we send you subsception documents tomorrow rromhg, abrg wish the subscription rexurreres previously executed by the assignor. Best regards, David David A. Proshan Docomber 28, 2006 RE FAX received from 212 371 8042 To: Hubsher, Else; Lebo l7, Seth CC: Woykowsl0, Tallish; Howe, Cam; Whit, Nicole Front Proshan, Dyad Notes: Lets hold the until we are (nal- 51 and I are Sla wake Wit - thank you —Original filessage-- Front Hubsher, Else Sent: Thursday, Decerrber 28, 2006 5:17 PM To: Prolian, David; Lebow:tie Seth Cc Woykowsld, Talsh; Howe, Cara; Whte, Nicole Subject Fee FAX received from 212 371 8042 David and Seth please let us knew t we accept tits transfer at" there is any hvokerrent you need from is. --Original Message— Front Woykowokl, Talah Sent: Thursday, December Z8, 2036 5:13 914 To: White, Nicole; Howe, Cam Cc Mueller, Eke Subject: File FAX received from 212 371 8042 This 'eels like an Assktirrent form for Financial Trust Co. I'm not ranker wth what b going on there so please handle according//. I have booed meat. . I Talth W kowski Investor Relations D.B. 2wlm &Co. riginal Message—T. .Fnone FAXCOM Fax Server irreitologs-faxedlexo.00ne Sent: . Thursday, DM : 0: oy 'A a Subject: FAX repaired from 212 371 8042 FAXCOM RECEIVED FAX REPORT — -- RecekedlIrre : 12/2W2006 16:29 Result : OK Description : Al pages received OK Result Code : 0000 Pages Receked: 0005 Bad Pages : 0000 Renote 7S1 : 212 371 8042 Connect The : 0072 Seconds Fax One : 3 Reuting ID : 9226 Baud Rats : 14403 Bps The fax Is kaided as a PDF document aftachment. Financial Trust Co making Ml transfer on 22/31/06 Weepers.Inc. !Seth.. DeeembeiSi 2008 . In DBZ IR - sub dries reed ale fee . . handling fogIstics - Confidential VRF 00000005 EFTA01082459 To: Woyiewsld, Talah From FAXCOM Fax Server Notes: FAXCOM RECENED FAX REPORT ------------- Received lane : 12/29/2006 11:45 Resut : OK Descriptbn : Al pages received OK Reset Coda : 0000 Pages Received: 0047 Bad Pages : 0000 Remote TS! : 212 750 2408 Connect lime : 0807 Seconds Fax line : 1 Routing id : 9226 Saud Rate ; 19400 Bps The fax is included as a PDF document attachment Attachments: «MSGI—0612291659O6022S.pdf» December 29, 200 6 Financial Trust Company Inc. making 12/31/05 full transfer to leepers Inc.- sub dos via Fax To: White, Nicole Front Woykowsid, Tatah Notes: FAXCOM RECEIVEDFAX REPORT Received The : 12/29/2006 11:45 Result : OK 0ex:dation : Ail pages received OK Result Code : 0000 Pages Received: 0047 Bad Pages : 0000 Remote TSI : 212 750 2408 Conned Time : 0807 Seconds Fax ke : 1 Routing ID :9226 Baud Rate : 14400 Bps The fax Is Inducled as a PCf document attachment. December 31, 2006 I. Zwirn Special Opportunities Fund, L.P. - Restated 12/31/06 Capital Account Statement To: 'Defer, Harr/sleepers, Inc. CC: Front DeZ &Co. Wester Ftelattins Notes: cite:// 1\Obit°.oamkgrbaNbcatsharedtspecop Fero ns untingtInvestorstOnshore Statements\2006\2006 Q4 Post Auorr statenentsvoo6 Q4 POST AUDIT Statemmts\LP 2006 Q4 Restatement -Jeepers Incpdf> Attached please (Ind your restated 12/31/06 capital account statement The restatement reflects the Impact of audt adjustments to your metal account and k the Final millt staterrent. Please note that we do not expect to restate K-1tax ust documents for 2006. The audt adjustments primerty reflect changes in boo bens summarized in the March 26, 2007 Investor communkatian and disareSed in footnotes to the 2006 audted trancal statements. nerds reduce the capital account from the °Mina*/ reported me amount amount. The adjustment amount wi vary among capital accounts based upon the thing of ortglnal and subsequent subsalptbns. As reported in the audited ftranclalstaternents, the Fund return for 2006, rcluding the audt adjustments, b 15.64%. Wth the condustin or the 2006 audt and the enhancernerts over the past eOhteen months h system, poldes, controls and procedures that have been implemented by a Nghly experienced teamof industry profeSSiOnatS, we believe we now have the hfrastructure In place to neet the Flints needs and sale our business. Looking ahead, we expect to expedite the release of (banded inforrretion on a more nonrated tirrefra me. We of course remsr open to any questions you may have and we encourage you to schedule an operatbnal due diligence vat to become more farrirr with the Infrastnicture rrodlicaUons and Oproverrents we have Introduced. We loot fWwOrd In 2008 to to provide urns from our broad diversified ob. We r patience and support. Best Regards, D.B. & Co., L P. Attachments: «LP 2006 Q4 Restatement - rs inc. p4f> > January 08, 2007 RP Financial Trust Co dons Redacted for Privilege ..--OrinalMexage— . ... . From FAXON Fax Server preRo: kr : Sent: Monday, January 08, 2007 6:09 PM To: Woykowski, lath Subject: FAX received FAXCOM RECEIVED FAX REPORT Retched 11Te r 01/08/2007 17:56 Result :OK Description : AO pages received OK Resut Code : 0000 Pages Received: 0050 Bad Pages : 0000 Remote TSI : Conned The : 0769 Seconds Fax line : I Routing ID : 9226 Baud Rate : 14400 Bps The fax a nduded as a PDF document attadvtent. January 08, 2007 rev Wed Jetport Inc. does To: Woykowsit Talah FILM! FAXCOM Fax Server Notes: FAXCOM RECEIVED FAX REPORT -------- Rer_ehed ltre : 01/06/2007 17:56 Re.sut : OK Description : AI pages received OK Resut Code : 0000 Pages Receirect 0050 Bad Pages : 0000 Rerrote TS1 : Connect Ens : 0769 Seconds Fax line : 1 Routing ID : 9226 Baud Rate : 14400 Bps The fax b lidded as a PDF document ausehment. Attachments: «MSG1-O?01O82309110757.pdf» January 10, 2007 FW: Financial Trust Co doci Redacted for Privilege --Original Message— From FAXCOM Fax Server [rralto:bgs-faxeribzco.com) Sent: Monday, January O6, 20076:09 PMTo: Woykoviskl, Talah Subject: FAX received FAXCOM RECENEDFAX REPORT ----- Received The : 01/08/200717:56 Resut : OK Descrkitbn : Al pages received OK Result Code : 0000 Pages Received: 0050 Bad Pages : 0300 Remote 151 : Conned The : 0769 Seconds Fax hie : 1 Routing ID : 9226 Baud Rate : 14400 Bps The fax Ls Induded as a PDF docurrent attachment. January 10,2007 RE: FinancialTrust CO dots i Redacted for Privilege ---OrIginal Message-- Front FAXCOM Fax Server hnalto:Sage] Sent: Monday, January 08, 2007 6:09 PM To: WoykowslA Talah Subject: FAX received FAXCOM RECEIVED FAX REPORT Received The 01/08/200717:56 Resut : OK Descriptbn : Al pages received OK Result Code : 0000 Pages Received: 0050 Bad Pages : 0000 Rentite TSI : Cement The : 0769 Seconds Fax the :1 Routing ID : 9226 Baud Rate : 14400 Bps The fax ks isduded as a PCS document attadiment. Confidential VRF 00000006 EFTA01082460 January 11, 2007 ZvAm SpedalOpporturitles Fund, LP.- Revised Q4 Tax Information for Jeepers Inc To: : So, Eva; Lebowitz, Seth hetes: 4f tle://NI8bow.cordglobakkcaaharecAspecopps‘Operations1Acownting\TaxVOW:Qs* 2006 utinpof LetterSVeeperS Inc - 4Q flYsourced home letterpdf> Dear Harry, Attached pease find revised correspondence regarding 2006 Q4 New York State sourced In ape:bets for the MsInforrnotion contained in ow prevbus correspondence on this natter. Thankyou for your Om. Kind Regards, Attach:rents: «Jeepers Inc - 4Q NY sourced inane letter.pdf>> January U, 2007 RDleapersInc. tax withholding Redacted for Privilege January 11, 2007 Re 3ee pens Dtc. tax vdthholdIng - Eva confirms that $ was withheld for leepens To: Lebowtro Seth; Woykowsld, Tabh; Butchkowsk1 Alla CC: Warren, C/Iford; McGrath, Brian; Proshan, David Front So, Eva Notes: Seth, We certainly withheld $966,609 of NYS taxes In Q4 2006 fromleepers Inc. The letter to Jeepers woad need to be changed. Talah/Alsa, Please let a know who Is going to change the letter to reflect the tax withheld on behalf of Jeepers Inc. Thanks, Eva From Lebowitz, Seth Sent: Thursday, January 11, 2007 2:54 PM To: So, Bra Ce Warren, Cliford; McGrath, Stan; Proshan, Devil Subject: FW: Jeepers Inc. tax vehttokikug Eva: see bebw. Fin glad I figured out that Off and Orkin are out of town. Let tie know V you have any questbns or want to discuss. thanks Seth From Lebowitz, Seth Sent: Thursday, January 11, 2007 2:24 PM To: McGrath, Brian; Warren, Cl/ford Cc: Proshan, David Subject Jeepers Inc. tax wthhokling Bean and ChM I got a cal from the lawyer for Jeepers, Inc. today beleve he called several other people here as nibsaying that leepas receired a NY state withhokIng letter fa tax year 2006 stating that Jeepers was exenpt fromvelthholding. This Is obviously a astake giren the background, but can you please confarithat we actually are withholding (or have vrthhell) at the 2006 taxa for Jeepers so Ian get bad to the lawyer. Also, wel need to send theme corrected letter stating that we did withhold and the amount of NYS source inane and tax withheld. I can have m send the letter out, but the data s needed from you guys. Thanks. Seth February 12, 2007 December Cap Balance To: Beller, Harr Flnandal 'Dust ConpanY Epstein & Co.) CC: Lee, Devil BCC: Hubsher, Else Notes: Harry, I spoke with David Lee and he would be happy to speak with you on al netters re and Co. We recognize that you are an krportant Investor and feel that David, as President, is the appropriate netters relating to your accarnt. David 6 prepared to speak With you regarding any tax questions you may haw can be reached at and Regards, ra Cara Howe D.8. Zwlm &Co. <rreeto:ca February 12, 2007 Deepen Inc -■Cep And Yleace To: Baer, Harry*Fhandal Tna Corrpany(3. Eleiteln &Co.) (hanyenysgit.com) Motes: Flatly, The capital account balance for keepers Inc as of 12.31.06 was approx Watery 1134,368,361. Please note that the previous rturrber given verbaty was prekrinary. Let rre know r I can rovlde ou with additional Wometion. Best, Cara Cam Howe D.B. ban &Co. cmaito:oira February 14, 2007 D.B. Zwtrn Special Opportunities Fund, LP.- Quarterly Account Statement To: harryanysglccord Front DBZ &Co. Investor Relations Notes: ale:// Wfbeco.cordIglobabbcabshared speapps\Operations Accounting\Investors\Onshore StatarentoN,20061,2006 Q4 StaterQ41PStatenentsVP Final Q4 Statement - Jeepers Inc..pdf> Attached please find the 2006 Q4 capital account staaert for your iwestnert ih the Zwim Special Opportwttles Fund, L P. Please feel free to contact us f you have a February 14, 2007 IV: Redemption Schedule To: Lee, David CC: Hubsher, Elise; Haw, Cara; On, Justin Notes: For Financial That Co/Jeepers Inc. Inv Made Mt Liquidty Available for Ftedenptbn 4/1/02 SIOm 2 Yr Roiling 6/30/009/1/02 ;Wm 2 Yr Rang 9/30/0812/1/02 $30m 2 Yr Rang 12/31/08 6/1/03 jlOm 2 Yr Roiling 6/30/07 1/1/05 $20m 3 Yr Rang 3/31/08 let ow f you need ny ing eke. Taaah OY Investor Relatbre Tylm & Co. 745 Ftth Avenue New York, NY 10151 Phone: • - 6 ktYPERUMCrralito:t corn <melt Front Anderson, Kety Sent: Wed AM To: Woykowsid, Talah; Howe, • : Rede km • h DL needs the rede en schedule for Jeepers, Inc. Rely Anderson a EL AgileaCO. HYPERLINK II coo o V February 15, 2007 D.B. ZwIrn Special Opportunities Fund, LP. - Tax Information Confic:elbol VRF 00000007 EFTA01082461 To: tbeleren'ySiginfitceni Front DBZ &Co. Investor Relations Notes: eflec/Aelbeco.corraglobahiccaftsharedLspecopps\OperatbrslAccountrig\Tax12006 UP 2006 Thy Composite LetterkLETTBtSVeepers Inc Composite Tax Letter.pdf> Dear Harry, Attached please find important correspondence regarding 2006 tax kdomation. If app to your kwestnent In the 0.8. Zan Special Opportune es Fund, LP. I re ond F Thank ou aco Attachments: «Jeepers Inc. (FhandalTruse.pdf>> February 22,2007 Complaint - FWt Redemption Schedule To: iewe, Cara Front Hither, Ehe Notes: Please log under Jeepers and thet Corrpeilt fie. --Orthal Message-- Front Lee, David Sent: Wednesday, February 21, 2007 5:15 PM To: Hubsher, Else Subject: RE: Redemption Schedule Schedule below is right, wit send you the current 12/31/ NAV --Orignal Message-- Front Hubsher, Oise Sent: Wednesday, February 21, 2007 5:14 PM To: Lee, Davd Subject: Fw: Redemption Schedule Irreortance: ligh Co you have the Midi recent version sent or read to Jeepers I don t want 02 to have a copy that differs from what we sent last ------ ---------- Sent tummy Bad:Berry Melee Derke --- Original Message - From WOyiaviskl, Teel., To: Hitter, Else Sent: Wed Feb 21 17:02:26 2007 Subject: FW: RederrptIon Schedule Dan Is asking me for the Jeepers rclhoff schedule. I am about to give Mr that noted bebw (wth corrected last hive) but wasnt sure If you ever obtained arrent trandte values fromAccounting, or any other progress was mule on the folbwing. Please adobe - than's. FOr MentalINS C0fleeperS Inc. Inv Made Ant Lkiuklity Avaiable fa Redenptbn 4/1/02 Stem 2W Rang 6/30/08 9/1/02 $10m 2 IV Poling 9/30/08 12/1/02 $30m 2 Yr Rote 12/31/08 6/1/03 $10m 2 Yr Ming 6/30/071/1/05 $20m 2 Yr Rolling 3/3 February 22, 2007 FW: Zwirn Special opportunttles Fund, L.P.- Tax information To: ButcNowirskl, Alsa; Sumberac, Robert; thither, Else; Zwrn, Dan; Car, Lawrence D.; Snell, Stuart Front the, David Notes: <file:// LNdboco.COMObba&balfiSharedIspecopps\InveSor RelationsUrivestor CorrespondenceVeepersVeepers Inc. (Financial hust).pdf> Please, we mat remove references to Flnandalltust, the owner of the LP interests a Jeepers Inc. Front Burson Aida Sent: Thursday, February 22, 20073:52 PM To: Lee, David Subject: FW: D.8. ?Wm Special Opportunities Fund, LP. - Taxi FYI - Harry caged again about this.... Front Boar, Veronica Sent: Thursday, February 22, 2007 3:41PM To: Bursar, ANcla Subject: Irn Special Opportunities Fund, LP. -Tax IffOrtretbri Ill, Mr. Beler cared for David Lee and forwarded rre this wren to request al the Information to be resent to him but wthout stating anything about Financial Trust. Thank you, nice Front Harry Beier [irerito:hbeilert&nysgrratcom] Sent: Thursday, February 22, 2007 3:40 PM To: Bow, Veront3 Subject: FW: twit Special OpportuntieS Fund, L P. - Tax Information Front DRZ &Co. Investor Relations (malto:bwestor Sent: Thursday, February 15, 2007 12:48 PM To: Hany Beer Subject: at Zwlm SpecialOpportunities Fund, LP. - Tax Informatb shed please find Important correspondence negardiag 2006 tax informetbn. If aid o nt In the D.B. Zan Special Opportuntles Fund, LP., please respond by February 28, 200& Thank you far your tine. Kind Regards 745 Fifth Avenue hew York, NY 10151 T. 646-720-9103 F: 646- bzco.com The errall message Is Intended only for the nailed rodpient(s) above. It nay contain confidential kionnatIon. If you are not the l .riled rechient, you are hereby notified that any use, disseninabon, distnbuboo or copying of this coola nd any attadiment(s) is strictly prohibited. hien &Co., LP. reserves the right to ardwe and monitor all &mai communkations through Its netwoda. If you have received this e-mall In error, ase irmedately notfy the sender by replying to the e-nal and delete the message and any attachrrent(s) from your system Thank you February 22, 2007 leepare Redemption - Complaint To: Howe, Cara Front Hubsher, Else Notes: dile:// 10bba&bcaNsharedISpecoppSLInveSte RebtlonsWorrplahtsleepers InNeepers_12_31_06.xls> Please leg under Jeerers a under their cornett fie Front Lee, David Sent Wednesday, Februa 21, 2007 5:28 PH To: Hubsher Else Cc Zahn De • S Stunt Cutler, Lawrence D. Sub : Jeepers David C. Lee President 118. Ann &Co. Attachments: <Ceeliers_1231_06.Ws» February 12, 2007 RE D.R. Zwirn Spacial Opportunities Fund, LP. - Tax Aetna:In To: tee, David; Hitcher, Ott Front Howe, Cara Notes: <flie://Wobballocahshared\specopphIrwestor Reiatbris\Investor CorrespondenCeVeeriasLeepers Inc Composite Tax Letten pdf> see attached before we send to Reny. Front Lee, David Sent: Thursday, February 22,DI 9:24 PM To: Hubsher, Else; Butchemski, Alta; Surd:exec, Robert; Aidm, Dan; Cutbr, trance D.; Wel, Stuart Cc Me , Can Subject: ae ben Special Opportunities Fund, LP. • Tar InfomatIon ok Front Hubsher, Blse Sent Thursday, 2, 2007 9:23 PM To: tee, ButcNowski, Alea; Suriberac, Robert Zwim, Dan; Cutler, Lawrence 0.; Aidµ Stuart Cc Howe, Cam Subject: RE: Zwlm Special Opporbates Fund, L P. - Tax Inforrretbn Apologies ...I reread the entire enel chain...um vcil take Mandel-flint out of the daunt We LA send t back to you Oland you can send It to Harry Beier. Front the, David Sent: Ti Fetruary 22, 2007 9:00 PM To: Butchkowse, Arse; Surrberac, Robert; Hubsher, Else; Zwirn, Dan; Cutler, Lawrence D.; %idea, Stuart Subject: lt FW: ben Seeds] Opportunities Fund, LP. -Tar Information Please, we oust movie references to Financial Trust, the owner of the LP Interests 5 Inc Front Bursor, Alicia Sent: Thursday, February 22, 2007 3:52 PM To: Lee, David Subject: FW: D.& 'hen Special Opportunities Find, LP. - Tax Infixril. n FYI - Harry called again about the.... Front Bocu, Veronlm Sent Thursday, February 22, 2007 3:41PM To: Burson Ands Subject: FW: Zvren Special Opportunit ies Fund, LP. - Tax &demotion Hi, Mr. Beier reed for David Lae arid forwarded me this errata request al the hfornetlon be resent to htn but without stating anything about Financial Mist. Thank you, Veronka Front Marty Beier (melte:htellereirtysgnatcanj Sent: Thursday, February 22, 2007 3:40 PM To: Bocu, Vaunta Subject: FW: D.& Zwtn SpecalOpportunales Fund, LP. - Tax Information Front OBZ &Co. Investor Relations [rrailto:Investor.Roblians@dbzoicom] Sent: Thursday, February 15, 200712:48 PH To: Harry Beer SubjectillEbrim Special Opportuntles Fund, LP,,_- Tax Information Dear Harry, Attached please find rrportant correspondence regarding 2006 tax try ion. If appal/ to your Investment In the a Zwfm Spedai Opportuntles Fund, LP., please respond by hebroa 28, 2006. Thank you for your time. kind Regards, IR Thls en! message Is Intended only for the nerredr n . . e , you are hereby nettled that any toe, dsserrhation, dIstroution or copying of this e-rrati and any attachrrent(s) s sbictfr probated. t Ann & Co., LP. reserves the right to whim and matter al-enet cormunkations through Rs networls. If you have received the e-mail in error, e imredicitdy noafy the sender by replying to this eirel and delete the message and any attachmint(s) from your system Thank you. February 27; 2007 .. Zwirn SpadaI Opportunities Fund, LP. - Tax Information To: Beer, Harry*FlnandalTrust Ccnpany (J. Epstein & Co.) (1 .0 CC: Hubsher, Elbe Notes Marry, Atiosched please find liportant co ndence r arem 2006 tax infometlon. Cam Cara Howe MB. &gm &Co.. F HYPERLINK < . Tax . February 27,,2007: .. REDA. Zvetrn Special Opportunities Filhd, la,-,ThorNertiletliee . Confidential VRF 00000008 EFTA01082462 To: Howe, Cam; Hubsher, Else Front Lee, David Notes: ok From Howe, Cara Sent: Thursday, February 22, 2007 9:36 PM To: Lee, David; Hubsher, Brea Subject: RE: D.B. Zan' Special Opportraides Fund, LP. - Taiii. Please sea attached befom W0 rand to harry. Front Lee, David Sent: 'Thursday, February 22, 2007 9:24 PM To: Hubsher, Me; Asa; sirrrberac, Robert; Zwtn, Dan. Cutler, Lawrence D.; Saida, Start CC Howe, Cara Subject: RE at Zwim Specbl Opportunities u , P. - Tax Inforretbn ok Front Hubsher, Ellse Sent: Thursday, February 24 2007 9:n PM To: Lee, Cevld; eutchkowski, Aba; Suite:at, Robert; Zwtn, Dan; Cutler, Lawrence D.; Sindell, Stuart Cc Howe, Can Subject: RE: D.& Zirsen Spacial Opportunities Fund, LP. - Tax Information Apobgies ...I reread the entire Gael chati...we al take Financial Trust out of the document. We coil send it bade to you DL and you can send t to Harry Beier. From tee, David Sent: Th February 22, 2007 9:00 PM To: Butthiewsid, Aisa; Sunberac, Robert; Masher, Ease; beim, Dan; Cutler, Lawrence D.; Stack Stuart Subject: FW: Zwin Speck] Opportunities Fund, L P. - Tax Intbmatbn Please, we must remove references to FinandalThist, the owner of the LP interests pers Inc Front Bursor, Mai Sent Thursday, February 22, 2007 3:52 PM To: Lee, David Subject: FW: D.B. Dan Spica Opportunities Fund, LP. - Tax Infomation FYI • Harry called again about this.... Front Bocu, Veronica Sent Thursday, February 22, 2007 141PM To: Bursa', Aka Subject: FW: at ban Special Opportudies Fund, LP. - Tax Information His Mr. Ceder ailed for David lee and forwarded ne this awl to request a the information to be resent to htn but valeta stating anything about Financial Trust. Thank you, Veronica Front Harry Beier [rnacchbelleranYsgmaii tom) Sent: Thursday, February 22, 2007 • FW: D.& 2wirn Spedal Opportunities Fund, LP. - Tax information Front DBZ &Co. Investor Relations Sent: Thursday, Februaryry 15, 2007 12:48 PMTo: Harry Beller Subject: Zwlm Specbl Opportraties Fund, L OfFTO r my flatbed please find important correspondence regarded 2006 tax informer Wf appkable to you Investnent In the . Zinim Special Opportunities Fund, LP., please respond by February 28, 2006. Thank you for your the. Kind Rega -9000 Thks e-rnall message s Wended ont, for the named recIplent(s) above. It my contain conlidermal Worm:4bn. If you are not the you are hereby notified that any use, dissertation, distribution or copying of thin e-net and any ettadiment(s) is strait prorated. Zwirn & Co., L P. reserves the right to archive and monitor all emna connunications through its networks. If you have received this root it error, ase irmediatety notify the sender by repytig to this email and delete the message and any attadiment(s)fromyour system Thank you. February 28, 2007 2006-2007 Composite Return Section Form for leepers Inc. - rec'd via Fax To: McGrath, Brian CC: Whte, Kcole Front BOW, Verona, Notes: <file://Adbeco.corregbbahlocallsharechspecopoS0nvestor Rebtlonsilntestor CorrespondencaFinandal Trust ConPanyileepers Inc 06 Composed Tax Election,pdf> --Original Message---- From FAXCOM Fax Server lrmilt0109S-rax0dteco.corni Sent: Wednesday, February 28, 2007 12:35 PM To: 8ocU, Veronica Subject: FAX received FAXCOM RECEIVED FAX REPORT — --- Received Time : 02/28/200712:33 Resut :OK Description : Ai pages received OK Result Code : 0000 Pages Received: 0003 Bad Pages : 0000 Remote 1SI : Connect the : 0057 Seconds Fax One : 3 Routing ID : 9068 Bard Rate : 14400 Bps The fax s incbded as a POE document attadment. March 03,2007 RE Revised LP Q4 Statements for Simpers, Petrus, Fine Family To: Howe, Cam; Hubsher, Else; Siael, Stuart CC: Lebowitz, Seth; White, Nicole; Woykowsid, Tatah From lee, David Notes: go ahead and send from IR Front Howe, Cam Sent: Frday, February 23, 2007 6:22 PM To: Hubsher, Eike; Sees, Stuart; Lee, David Cc le0owl¢, sem; White, Ntoe; Woykowskt Tallah Subject: Revised LP Q4 Statements for goads's, Palms, Fine Fanny Al of the Q4 LP statements have gone out with the exception of the these investors. Please advise If you weed Ilie title to cone fromIR or! you would Ike to tale care of these. See attached. (Please the Fine Family LP statement is not attached. We wit send thb on Monday.) Cara Howe . 2virn & Co. <rraltouara.nowan April 06, 2007 Rv: LP tax estimates To: McGrath, Brion CC: Lee, David; Howe, Cara Front Hubsher, Erse Notes: Thought you fright be able to heb wth thls. David we are starthg to send these out and hope to have all Investors wth the exception of Jeepers and errpbyees out by Hon. Adcatbnal work needs to be done for employees so that the incentive and grant fees are badaid out. Sent from ny Bladaerry Witless Device -- Original Message Front Lee, David To: Epstein, Aaron; Fbod, Brad Cc Surrberar, Robert; Huteher, Else Sent: Fri Air 0610:22:40 2007 S ect: LP tax estinotes When are they going out? Today? IT not, can I have a breakdo ? David C. Lee Preskient D.& Dern &Co. L P. April 11, 2007 - 2006 K-1Estimate To: Sumberac, Robert Lee, David CC: Howe, Cara Front Maher, Else Notes: Ok to send? Sent from ml/ EMdd0eny Wireless Device — Original Message — Front McGrath, Brian To: Elubstier, Else; Howe, Cam; White, Nicole Cc Surrberac, Robert So, Eva; Warren, Clifford Sent: Wed Apr 11 17:55:04 2007 Subject: Jeepers - 2006 K-1 Estimate Else, We spoke earlier today with Bob S on Jeepers Inc & he Ls OK for into proceed and send the 2006 K-1 Est . I have attached it to this ',lint Final let us know f you have any Questbris Thanks, Men &Ian T. McGrath CPA Senbr Tax Mama0er Zwirn &Co. Attachments: <Ceepers Inc. - 2006 K-1 Estimates for Del SOF LP Lodi» Jeepers - 2006 K-1ealinnte April 11, 2007 To: Hubsher, Use; Howe, Can; White, today with Bob S on Jeepers Inc & he's RI CC: Surrberac, Robert; So, Eva; Warren, afford From RtGrath, Brbn Notes Ease, We spoke earlier us to proceed and send the 2306 K-1 Sruta. I have attached R to this ems). Masse let us know a you 2vrim & Co. Attachments: «Jeepers Inc. • 2006 K-1 Btirrat April 12, 2007 2006 Tax Estimate - Jeepers Inc. To: Baer, Harry*Firtandal Trust Company (J. Epstein &Ca) ( Mile CC: Hubsher, Else; Lee, David Notes: <file:// babzro.00ntsbbahbralbharedispecopps Opetatbnsigcoounting\Tax Carplance WP's &PWC Requests0C-1 Investor Tax atinateSUP - Estrn 06 K-1 Letters to InvestorsVEEPERSIncdeepers Inc. - 2006 K-1Esthetes for CEIZ SOF LP 1.pdf> Harry, Please see the attached 2006 tax esthete for Jeepers Inc. We expect to send out the final Kt earl/ sumrer. Please contact ether David Blse Hubsherr ou have any uestions. Thank ra we Investor Relations s Zwlm &Co. <d eepes Inc. - S Tor April 12, 2007 INNOsepers - 2006 K-11. Estimate Confidential VRF 00000009 EFTA01082463 To: Howe, Cara Front Hubsher, f3se rotes: Please send to Harry Beier and cc rut and CC —Ortkial Message— Front lee, Cavil Sent: Thursday, April 12, 2007 11:56AM To: Hubsher, Else Subject: RE: keepers • 2006 K-I EStiTete fine ----Original Message-- Farr HubSter, Else Sent: ThurSday, Apry 12, 2007 11:52 AM To: in , David Subject: FW: Jeepers - 2006K-1Esthete OL..k Pik suffident ens for Cri to send to Harry Beier? --Original Message— Front Howe, Can Sent: Thursday, April 17, 2007 11:41 AM Tee Hubsher, Eise Subject FW: Jeepers • 2006 K-1 atimate AmI okay to send to Harry &ller? —Original Message-- From Lee, David Sent: intraday, Apr1112, 2007 10:49 AM To: Fbod, Brad; Sunterac, Robert Mobster, ElSe Cc Howe, Cara Subject: RE: Jeepers - 2006 K-1Esthete ok —Original Message— Front Flood, Brad Sent: Thursday, AO 12, 200710:43 AM To: Swrberac, Robert Hubsher, Erse; Lee, David Cc: Howe, Cara Subject: RE: Jeepers - 2006 K-1Esthete The K•1 statement plus hk portbn of Uncoated k $110k less than the year end statement This is reasonable plan the data that we used for the K-1 estimates. NY slate tax is not referenced on the K-1 esthete, however I discussed with Brian McGrath and the retake nutters at sense. Federal taxable income as reported on the K-1 esthete a tether than the NY son that we have estimated for Mn So, we are good to go. ---Original Message— Front Sunterac, Robert Sent Thursday, Apt 12, 2007 &SW AM To: Hubsher, Erse; Lae, David Cc Howe, Can; Rood, Brad Subject RE: loepers - 2006 K-1Esthete Pk coordinate with Brad —Original Message-- From Hubsher, Ste Sent: Thursday, Apr1112, 2007 7:41 AM1b: lee, David; sunterac, Robert cc Howe, Cara Subject: RE: Jeepers - 2006 K-1Estimate Ok. Oi can check the nos we sent at year end. We we not send this out untl we do so. DL do you want to send this Once diedted or should we? ----Original Message— Front lee, David Sent: Thursday, Aprl 12, 2007 7:28 AM To: Hutesher, Flee; Surrberac, Robert Cc Howe, Can Subject: RE: _Meyers - 2006 K-1 Esthete Yes, someone pease double check total Worm and nY state tax match lit year end staterrent first? --Ortinal Message-- Front Hubsher, Bse Sent: Wednesday, Apd 11, 2007 6:20 PM To: Surrberac, Robert; Lee, David Cc: Howe, Cara Subject: Fw: geepers - 2006 K-1Estimate Ok to send? --------- Sent from ny lettlany Wireless Device —Original Message -- From McGrath, Brian To: Hubsher, Eke; Howe, Can; Whte, Nicole Cc Surrberac, Robert; So, EVa; Warren, Offord Sent: Wed Apr 11 17:55:04 2007 Subject: Japers - 2006 K-1 Estivate else, We spoke ea der today wth Fob 5 on Jeepers Inc & he is OK for us to proceed and send the 2005 K-1 attached It to this Pease let us know a ou have an uestlons. Thanks Brian 13nan T. litGrath CPA Senior Apr' , To; Med, Brad; Sunterac, Robert; ?Usher, Elbe CC: Howe, Cara From lee, David Notes: ok --Original Message--From Flied, End Sent: Thursday, April 12, 2007 10:43 AM To: Surrberac, Robert; Hubsher, Else; Lee, David Cc Howe, Can Subject: RE: gesture - 2006 K-I Estimate The 161 statement plus ink portion of Unrealized 's $110k less than the year end statement. This Is reasonable glen the data that we used for the K-1 estimates. NY state tax is not referenced on the K-1 estimate, however I discussed wth Brian McGrath and the relative numbers rrekes sense. Federal taxable inane as reported on the K-1 esthete is higher than the NY source that we have estimated for him So, we are good to go. --Original Message— Front Sunterac, Robert Sent: Thursday, Apil 12, 200713:56 AM To: Hubsher, Else; Lee, David Cc: Howe, Can; Flood, Brad Subject: RE: keepers - 2006 K-1 Estivate Ft coordinate vdth Brad ----Orthal Message--- Front Hubsher, Else Sent: Thursday, April 12, 2007 7:41 AM To: Lee, David; Sunterac, Robert CC tbwe, Cara Subject: RE: Jeepers - 2006 K-1 Estimate Ok. CH can check the nos we sent at year end. We we not send the out ail we do so. DL do you want to send this once checked or shouki we? —Original Message-- From: Lee, David Sent: Thursday, Apr112, 2007 7:28 AM To: Hubsher, Else; Sumberac, Robert Cc Howe, Can Subject: RE: Jeepers - 2006 K-1 Esthete Yes, someone pease double check total Worm and nYstate tax match Ns year end statement first? —OrigamiMessage-- From itbsher, Else Sent: Wednesday, Aprl 11, 2007 6:20 PM To: Suirberat Robert; Lee, DavidCc: Ham, Can Subject: Per Jeepers - 2006 K-1Esthete Ok to send? -- Sent NOM rry Etickilerry Wireless Device Orgkal Message Front McGrath, Brian To: Hubsher, Else; Howe, Cara; Whte, Nicole Cc Sunterac, Robert; So, Eva; Warren, Orford Sent: Wed Apr 11 17:55:04 2007 Subject: keepers - 2036 K-1 Estimate Eke, We spoke carter today wth Bob Son Jeepers Inc & he is OK for us to proceed and send the 2006 K-1 . I have attached t to this e-rrel Please let us know ir you have any estbns. Titania, Brian Bryan T. McGrath, CPA Senbr Tax April 12, 2007 Re haepers - 2006 K-1Estimate To: Lee, David; Hubsher, Use; HOW, Brad CC: Howe, Cara From Sunterac, Robert NOteS: Brad: Pt perfanithe Ueda DL potted out below. Thanks - —Octets' Message--- Front Lee, David Sent: Thursday, Apel 12, 2007 7:28 AM To: Hubsher, Eke; Sunterac, Robert Cc Howe, Care Subject: RE: keepers - 2006 K-1 Esthete Yes, someone pease doubt dux:kb:tad Worm and nY state tax rretch his year end statement first? —Original Message- - Front kW:ether, Else Sent: Wednesday, Apri I I, 2007 6:20 PM To: Surrberac, Robert; lee, David Cc Howe, Can Subject: Fw: Jeepers - 20116 K-1 Esthete Ok to send? --------- Sent from ny Bled:Berry Witless Device —Offaly' Message -- Front McGrath, Dian To: Hubsher, Eke; Howe, Can; White, Wok Cc Surrberac, Robert; So, Eva; Warren, afford Sent: Wed Apr 1117:55:04 2007 Subject: Jeepers • 2006 K-1Esthete Ewe, We spoke earlier today is* Bob S on Jeepers Inc & ho is OK for us to proceed and send the 2006 K I have attached t to this egret Please let know r ou have any uestbns Thanks, Brian Blanc OtGrath CPA 2Wirn &Co. Apri112,2 wipers- ma • To: Lee, David; Sunterac, Robert CC: Howe, Ca Hubsher, Else Notes: Ok. CH cinched( the nos we sent at year end. We will not send tit out until we do so. DI do you want to send the once or shot*, we? --Original Message-- Mons lee, David Sent: Thursday, Apel 12, 2007 7:28 AM To: Hubsher, Elie; Sunterac, Robert Cc Subject: RE: Jeepers - 2006 K-1 Esthete Yes, sorreone pease double decktotal income and nY state tax meth It year end statement Rest? —Original Message-- Ft= Hubsher, Etse Sent: Wednesday, Apri 11, 2007 6:20 PM To: Surrberac, Robert; tee, David Cc Howe, Can Subject: Fir: keepers - 2006 K-1Estimate Ok to send? -- Sent from try Eatrillerry Witless Device Original Message -- Front Md3rath, Orkn To: Hubsher, Eke; Howe, Care; White, Nicole Cc Suriterac, Robert; So, Eva; Warren, Orford Sent: Wed Apr 11 17:55:04 2007 Subject: Jeepers- 2006 K-1Esthete Elise, We spoke saner today wth Bob Son Jeepers Inc & he is OK for us to proceed and send the 2006 K•1Esthete. I have attached t to this seal Reese let us know r you have any questions. Thanks, Brian Brian T. McGrath, CPA Senior Tax Manager D B. DAT &Co. To: Hubsher, Eke; Surber-at Robert CC: Howe, Cara Front Lee, David Notes Yes, someone pease double check total Worm and nY state tax retch his year end staterrent fist? --Original Message--•— Front Hither, Else Sent: Wednesday, Awl 11, 2007 6:20 PM To: Sunterac, Robert lee, David Cc: Howe, Can Subject: FW: layers - 2006 K-1 Esthete Ok to send? Sent from Mt Ebel:Berry Wink= Device — Original Message - -- Front McGrath, Brian To: Hui:whet Else; Howe, Can; Whte, Wok Cc Sunterac, Robert; So, Eva; Warren, Gifford Sent: Wed Apr It 17:55:04 2007 Subject: Jeepers - 2006 K-1Esthete Else, We spoke eat today with Bob S on layers Inc & he is OK for us to proceed and send the 2006 K-1 Esthete. I have attached It to this tease let us know a you have any questions. Thanks, &en Brian T. McGrath, CPA Senior Tax Manager D.& 2whi &Co. • • . 4em.2907, 31pieretd 2004161 Confidential VRF 00000010 EFTA01082464 TO: Surtherac, Robert; Hubsher, Else; lee, David CC: Howe, Cam Front Fbod, Brad Notes: The K-1 Ottemert plus his portion of Unrealized 5 $110k less than the year end statement. This Is reasonable given the data that we used for the K-1 esterotes NY state tax Is not referenced on the K-1 esteem, however I discussed with awn mcsrath and the ranee nunbers wales sense. Federal taxable Mane as reported on the K-1 esthete is higher than the NY son that we have estkreted for tan So, we are good to go. --Orflnal Message-- Front Surrberac, Robert Sent: Thursday, AM 12, 2007 &56 AMTe: Hubsher, Elise; Lee, David Cc 'awe, Cara; Fbod, Brad Subject: RE: Jeepers - 2006 K-1Esthete Pis coordinate rah lead --Original Message— Front Hitcher, Eire Sent: Thursday, April 12, 2007 7:41AMTo: Lee, Cevkl; Surrberac, Robert Cc: Howe, Cam Subject: RE: Jeepers - 2006 K-1EStirrate OIL CH can check the nos we sent at year end. We vi not send taped untlwe do so. DLO you want to send this once checked or shout we? --Ortenal Message-- Front Lee, Dave Sent: Thursday, AM 12, 2007 7:28 AM To: Hubsher, Eke; Surrberac, Robed Cc Owe, Cam Subject: RE: Jeepers - 2006 K-1Esthete Yes, sermone pease double diedc total Wont and AY state tax match his year end deterrent fist? --Orfila' Message— Front Hither, are Sent: Wednesday, Aprl 11, 2007 6:20 PM To: Surrberac, Robert; Lee, David Cc Howe, Care Subject: Fw: Jeepers - 2006 K-1 Esttrate Ok to send? ----------- Sent from red (Noddies:re Wireless Device — Orglal Mesage --- From McGrath, Brian To: Hubsher, are; Hove, Cara; Whte, Nicole Cc Sieberac, Robert; So, Eva; Warren, Gifford Sent: Wed Apr II 17:55:04 2007 Subject: Jeepers - 2036 K-1 Esthete Elre, We spoke eerier today wth Bob S on Jeepers Inc & her OK for us to proceed and send the 2006 K-1 te. I have attached it to this April 12, 2007 RE Jeepers - 2006 K-1Estimate To: Hubsher, Elise; Lee, Davit CC: Howe, Cam; Fbod Brad Front Surreerac, Robed Notes: Pr coordnate wth Brad --Origral Message--- Front Hubsher, Use Sent: Thursday, April 12, 2007 7:41AM Tie Lee, David; Surrterae, Robot Cc Howe, Cara Subject: RE: Jeepers - 2C06 K-1 Esthete CIL CH Can check the nos we sent at year end. We we not Send thiS Ott tend we 00 w. DL dayal want tO send this once checked or shoud we? -- -Orfila! Message-- Front Lee, David Sera Thursday, AO 12, 2007 7:28AM To: Hubsher, Else; Surrberac, Robed Ca Howe, Cara Subject: RE: Jeepers - 2006 K-1Bt nte Yes, someone pease double check total income and nY state tax retch his year endstaterrent fist? --Original Message- - Front Hubsher, Elise Sent Wednesday, Apri 11, 2007 6:20 PM TO: Surrberae, Robert Lee, Cava Cc Howe, Cara Subject: Re: Jeepers - 2006 K-1 Esthete Ok to send? Sent from try Eradderry Wireless Device Orfinal Message —Front McGrath, &Ian To: HubSher, Eire; Howe, Cara; Whte, Neat Cc surrberac, Robert So, Eva; Warren, Cifford Sent: Wed Apr 11 17:55:04 2007 Subject: Jeepers - 2006 K-1 eters:de Ere, We spoke eerier today wth Bob S on leepers Inc & he is OK for us to proceed and send the 2006K irate. I have attached t to this eireil. Please let Apri113, 2007 Zwirn Special Opportunities Fund, LP. - Q1Tax Information - Jeepers To: 'Beier, HanyvFinandal Trust Conparly (). Epstein &Co.) (harryienysgic.comy Front C6Z &Co. Investor Relations Motes: dile:// \ bbal\beseshared specopeseOperationslAccountIng\Tax \2007ea1 NYS Lb -Withheld\pdf letters\Q1-2007 OBZ SOF LP WS WH Letter - Jeepers inc pdf s Harty, Attached please find irportant correspondence regardhg Q1 2007 New Y te sourced Income. Pease note that the is dated rreteriaL which may require action by Apnl IS, 2007. Thank you for you time. , LP. ureilt May 34 2007 Harry Belle es new email address To: Lee, David CC: Howe, Cara From Hubsher, Eke Notes Ok we wit resent' Sent from ay Bladdieny Wreless Devine -- Original Hesse — v o: Hubsher, Else Sent: Thu May 3112:15:31 2007 Subject: RE: 2006 Tax Esthete • Jeepers Inc. harry has new erral Stress Front Hubsher, Eke Sent: Thursday, May 31, 20078:35 AM To: lee, David; Scribe . . 006 Tax Esthete - keepers Inc. Front Howe, Cam Sent: Thursday, May 31, 2007 8:25 AM To: Huteher, Else Subject FW: 2006 Tax Esthete - Jeepers Inc. From Howe, Cara Sent Thu 4/17/200712:14 PM To: ieeler, Harty:TR/racial Trust Corrpany (3. Epstein &Co.) IM l e:tiubsher, Eke; Lee, David Subject: 2006 Tax Btkrete - Jeepers Inc. Harry, Please see the attached 2006 tax esthete for Jeepers Inc.nc. eexped to send out the final K1 early wearer. Please contact ether David Legere Hubsher Ifyou have a uestions. Thank you, Cam Cam Howe Investor Relations 2arn &Co. June 08, 2007 I. ZwInt Special po un tee , .- ax orma con To: Beier, Hany•Fhanelal Rust COnpany (J. Epstein &Coej.)plligy cc: Lee, David; Hubsher, Eke Front 062 &Co. Investor Retatbns Notes Hairy, Attached please find krportant correspond regar ng 7 New York State sourced Income. Please note that the Is dated indeed which city require adbn by June 15, 2007. Thank you for your ., LP. 745 Fifth Avenue, 18th Fbor New Ye*, NV 10151 (646) 720-9100 Phone (646) 720-9000 Fax HYPERLIAK eneRo:agrebzoo.corn> Attacturents: «reepers Inc..gif» June 08, 2007 D.B. Zahn Special Opportunities Fund, LP. - Q2 Tax IMOrmatiOn To: 'heekriOnY92081-rillf CC: Lee, David; Hasher, Eire; V le Front DM &Co. Investor Rehtions Notes: Harry, Attached please find hportant correspondence regarding Q2 2007 bowie. Please note that the Is dated rretedd Wadi nay require actbn by June 15, 2007. Dank you for your ti e. end Regards, . 745 Filth Avenue, 18th Hoar New York, NY 10151 (646) 720-9100 Phone (616) 720-9000 Fax HYPERLINK emito:IRadbeco, zco. cow <rreroaRedbzeo.corn> Attachments: <4..leepers Inc..pdf» June 08, 2007 PVC 3011PERS - PLEASE APPROVE To: Whte, Ni ole; Howe, Cam; Hubsher, Elbe; Sturberac, Robert; guestrrate 5 coned gNen the M$ Cep? I., CIfford Front Lee, David Notes: Ciff, can we double cheek that their Front Whte, ico Sent: Friday, June 08, 2007 4:50 PM To: Lee, David Cc: Howe, Cam; Hubsher, tare Subject: JEEPERS - PLEASE APPROVE David, Pease approve the attached e-eels Harry Beier for Q2 tax Information for Jeepers. Once approved ator Relaters 0.8. Bran &Co. Anathemas: «ErreeddeditenrIMPPIMIll June 00, 2007 HEMS - PLEASEAPPROVE To: Lee, David CC: Howe, Cam; Hubsher, Elise Notes: David, Please approve the attached email to Harry Baer for Q2 tax isfOrrieten ferias:a Once a ed doyou want to send t ce• should we send frem the IR inbox? Thanks N' ester Rehtbes DB. 2win & tathments: ceerebeddeatent D.& banSpecial p u s un , June 08,2007 RnIELPERS - PLEASEAPPROVE Confidential VRF OD000011 EFTA01082465 To: Lee, David; White, Noah; Howe, Cara; Hutsher, Else; Suirberac, Robert CC: McGrath, Bran; So, Bra Front Warren, CrOrd Notes: diet edimate was done on the same basis as all, which could nerdy be 110% of last years Front Lee, David Sent: Fraley, June 00, 20)7 6:aTo. White, Nicole; Howe, Cara; Hinter, Else; Surrberae, Robert Warren, Clifford Subject: FW: JEEPERS - PLEASEAPFROVE Cliff, can we double hat their guestimate k correct gwen the NYS C-corp? Front White, Nicole Sent: Friday, June 08, 2007 4:50 PM To: tee, David Cc: Howe, Can; Hubsher, Elise Subject: JEEPERS - PLEASE APPROVE David, Please approve the attar:bed e-mal to Harry Beier for Q2 tax Ifformitian for Jeepers. Once approved tCns a "Vin Ca. June 08, 2007 Re:JEEPERS - PLEASe APPROVErak to send then To: Warren, afford; White, Role' Howe, Cara; Hubsher, Else; Surrberac, Robert CC: McGrath, Brian; So, Eva Front Lee, David Notes: Sent from my Bladdkiny Wireless Handheld -- Original Message -- Front Warren, Mord To: lee, David; Whke, Moab; Howe, Cara; Hubsher, Else; Surrberac, Robert CC McGrath, Brian; SO, Eva Sent: Fri Jun 0818:34:59 2007 Subject: RE: JEEPERS - PLEASE APPROVE thee estatate was done on the sane basis as 4 which could merely be 110% of last year's Front Lee, David Sent: Friday, June 08, 2007 6:14 PM To: White, Nkoie; Home, Cara; Hubsher, Dies Sunterac, Robert; Warren, Clifford Subject: FW: JEEPERS - PLEASE APPROVE Cliff, an we double check that their guestkrate k correct an the WS C-corn? Front WhAe, Mcole Sent Friday, June 08, 2007 4:50 PM To: Lee, David Cc. Howe, Cara; Hubsher, Elise Subject: JEEPERS - PLEASE APPROVE David, Please approve the attached a-nal to Harry Beller for Q2 tax triennia° 7 cr Relations D.El Zwan &Co. June 18, 2007 To: Vreibr, Harreleepers, Inc. ' CC Lee, David; Harsher, Else Front DOZ &Co. Investor Relatbns Notes: <t e:// Steel COM glabakiscallshared\specoPpS pera s ccountirgUnveStorS\Onshore Statements\20071,LP Statements\Q1 071P Staterrents\LP QI 07 Statement Jeepers Inc. pdf> Hany, Attached please find the 2007 Q1 captal amount statement r Investment In the D.B. 2vAm Sped7I OPPOrtwIdeS Fund, LP. Please feel free to contact us a you have arty arcs, m &Co., LP. 745 Frei Avenue New York, NY 10151 T: 646.720-91001: 646-720-9000 HYPERLINK"mailto:IR*Jbz <made. zco.corm Attachments: «LP Q107 Statement • Jeepers Inc pdf» June 18, 2007 Jeepers Inc statement - Q12007 To: Lee, David CC Sterberac, Robert Hubsher, Else; Whet, Nicole Hetes: David - Can you plea nfirm that we can send the attached Jeepers Q1 statement to 7 Thanks Cara Howe ZwIrn &Co. 745 Fifth Avenue New York NY 10151 li ; July 26, 200 T \a DAL zwIrn Special Opportunities Fund, LP. - 2006 Est ma e - - snipers nysleepers, Inc. (hbelerkbnysraitcomy Front DBZ &Co. Investor Robbers Notes: <fileyy o lobalibtakshared\specoprolOPerattelS\ACCOUnalg\Tax\20061Tax Compliance Wrs &PWC Requests\K-1Investor Tax Esttrebts\lP - Rev o investors dtd 7-25-Oneepers Inc. - DE SOF LP - 06 Rev atmif-Let> Harry, Pl Aprl. Regards, Ched LP July 26, 2007 REIJEEPERS - PLEASE APPROVE (DL approves revised K-1 estimate) To: White, Nicole CC: Howe, Cara; Hubsher, Erse Front Lee, David Notes: etc Front White, Nicole Sent: Thursday, July 26, 2007 5:57 PM To: Lee, David Cc Howe, Cara; tlub5her, Use Subject: JEEPERS - PLEASE APPROVE David, Please approve the attached draft well to far Bells with See is Inc's revised K-I. Once approved we witsend it from the IR adios. Thanks Nicole Whte D.& 2v,irn & Co. August 16,2007 Zwtrn Spec Opportun Fun , .- • e rat Statement To: Seger, Harry*Jerapers, Inc. (a Front DM& Co. Investor Relations Notes: Harry, Attached please rid the 2007 Q2 capital account statementfor your awe f I tree to contact use you have any questions. Best Regards, D.& Zwim &Co., LP. <file:// \\dbzco.com\gbbahlocal\share . aterrents\Q2 071P Staterrents\PDF Statements1,LP 07 Q2 Staten-ent - leepas Inc. pdf> August 16,2007 ItElJeepers - Please approve To: Howe, Cam Front Lee, David Notes: ok to go Front Hawe, Can Sent: Thursday, August 16, 2007 3:43 PM To: lee, David Cc: Hubsher, Elise; WM°, Nicole; Lau, Kit Subject: leepers - Please approve David - Please approve the attached • rt statement email to Many Beier before we send. Mania! Zwirn & Co it To: Seller, Harryileepers, Inc. \ corraglobablocal shared\specopps pas ro From DEZ &Co. Investor Reiatbns Notes: <f :// ding\Tax\2007\Q3 2007 UM\ LEITERS\ViMilli3D\pdf lettersVeepers :nc. - 3Q 2007 > Hany, Attached please find tiportant correspondence regarding Q3 2007 New York Sta treed incorre. Please note that U.S le dated nice I, which may require action by September 17, 2007. Stank you for your the. lOnd Regards, Zedrn &Co., LP. September 07, 2007 JEEPERS - To: lee, Dayii CC: Havre, Cara; Lau, Kit; Hubsher, Use Hates: David, Please approve the attached draft errelto Hany Elder with Jeepers Les Q3 S r. Once a roved we wdl send it from the IR Inbcor. Thanks Nicole White O.B. Zwlm &Co. Attachments: «Enbeddedeerrt S ban SpectlOpportuatles Fund, LP. -Q3 Tax Infomatbn» September 07, 2007 RE:JEEPERS • PLEASE APPROVE (DL approves Q32007 NYS Letter) Confidential VRF 00000012 EFTA01082466 To: Witte, tole From Lee, David Notes Ok Front Whte, Wok Sent: Friday, September 07, 2C07 3:34 PM To: Lee, David Cc Howe, Cam; Laµ Pt; Hubsher, Eke Subject: JEEPERS - PLF-ASEAPPROVE David, P draft creel to Harry Beier vithJeeperS Inc's Q3 2007 September 16, 2007 Zertrn Special Opportunities Kind, LP. - 2006 Estimated K-1 - Jeepers Inc To: 'Beier, Hanyneepers, Inc. (hbekrepnysgrreteom)' Front DEG &Co. Investor Relations Notes: <He:// \\cibeco.comiebbaebnesharedbinopppOperatIons\AmountInCATaX12006Unvestor K-1 Estimates 9-14-07\LPUeepers Inc. - 2006 K-1 Estim 9- i4-07.pdf> Harry, PIpa n the attache - ded to you in Tub. Regards, &Co., LP. HYPERLINK pers Inc. • 2006 K-1 Esting-14-07.pdf» September 16, 2007 Re: JEFPFRS - PLEASE APPROVE (DL approve' 2006 Estimated K-1) To: Whte, Nicole Front Lee, David Notes: Ok ----- Sent from my BlackBerry Wireless Handhekl Orighal Message Front White. Wok To: lee, oavia CC Hutsher, Use; Howe, Cara Sent: Sat Sep 15 22:41:30 2007 Subject: HIEPERS - PIRAP APPROVE David, Please approve the attached draft er -eä to Ha ter wal ststook White D.O. Zwirn &Co. October 02,, 20 07 Second email address for Harry Belies - pis send K-1correspondence To: Beier Ha 'lee Inc. CC: Howe, Cara Front Lee, David Notes: HYPERLINK as setondo email for Harry Bar David C. Lee President D.B. Zwlm &Co. LP HYPERUNK "nnito:dleeeid October 13, 2007 e. ZwIrn Special Opportunities Fund, LP. - 2006 K-1 To: Beier, Harneleepers, Ineballinelle CC: 'beler, Harryneepers, Inc. (J Front D82 &Co. Investor Relators Notes: <lieWN dbzcoPOrle2b 10oeratiOnStAMOuntlinffax12006UWFSTOR n ut. K-1'S FOR ob-rais obi OCT 13TH' uaa -FINANCIAL TRUST COMPANY, INC.pdf> <file://Adkoo.conagbba \Accounting\Tax \2006\INVESTOR FINAL K-1'S FOR DISTRIB ON OCT 1311e1:4-3EEPBIS INC.. pdf> To the Investors of LP.: Attached please hid your 2006 Schedule K-1. As of the date of &step your Schedule K-1, there are a number o pen ng a us arens a will affect the GAAP teas frontal statements. Due to the pending adjustrrents, the book borne and ending captal account balances, when (baked, we likely be different than the arnounr3 reeled on your Schedule K-1. For this mason, we have bloated that the capital account on your Schedule K-1Is not presented on a GAAP basis (Part II, Information About the Partner, Rene, Partner's captal account analysis, has been checked 'Other (captain)" rather than "GAAP"). We do not bSeve the pendhg adjustments to have a material krpact on the tax item reported on your 2006 Schedule K-1. However, we cannot predict wth certainty that such adjustments we not require us to amend the 2006 tax rotten and issue revsed Schedule K-Vs, or request an adniestratIve adjustrrert to correct a . If you have any oestla lease call Olt Warren Sticerely, D.B. Attaderents: «188-FINANCIAL TRUST COMPANY, INC. pdf» «031-JEEPERS >> December 18, 2007 JESTERS- PLEASE APPROVE To: Lee, David CC: Howe, Cara; Hubsher, Elbe Notes: David, Please approve the attached draft ernat to Harry Bekr wth Jeepers InCs restates 12/31/06 apgal acco atcment. I • ' roved we we send t from the IR Inbox. brim & ttachnents: • rn r , .- ment» ev tatement - Jeepers tread!» December 18, 2007 RE:JEEPERS - PLEASE APPROVE To: White, Meek CC: Howe, Cara; Hubsher, Ube Front lee, David Notes: ok From White, Nicole Sent: Tuesday, Docenter 18, 2007 3:08 AM To: tee, David Cc Howe, Cara; Hubsher, Else Subject: JEEPERS - PFASF APPROVE David, Please approve the attached draft env. to Harry Beier wth Jeepers Inc's restated 12/31/06 capital account statement. 1 have analed their earller statement for veur hitterene. Once aPPtOyed we MIsend t from e IR inbox. Thanks Meek White D.B. Zinn & C December 18, 2007 RtJaifieetS - PLEASE A To: White, Nicole CC: HORM, Cara; Hubsher, Use Front Lee, David Notes: ok Front White, Nixie Sent: Tuesday, Decanter 18, 2007 3:08 AM To: lee, David Cc: Howe, Cara; Hubsher, Eke Subject: JEEPERS - PI FAe•F APPROVE David, Please approve the attached draft enrol to Harty Refer wth Jeepers Inc's restated 12/31/06 aplut) account statement. I have attached their earner statement for your reference. One approved we el senci t from tole White D. B. Zwkn & Co. January 04, 2008 D.B.Zwirn Special Opportunities Fund, LP. • Tax Informs n To: aeler, Harry•leepers, Inc. thbelenelnysgrretcomy CC: 13eter, Harry4Jeepers, Inc. (JEBrenntattglobaLnety From DBZ & Co. Investor Relations Notes: Harry, Attached please find Important correspondence regarding 2007 tax inforrret ion. If applicable to your byeetrrent b the D.& Vern Special Opportunities Fund, LP., please respond by February 1, 2008 for the NYS NcnrPck'nt Partner Withholding and Fetruary 28, 2008 for Conposte Return. Section& Tha nod Regards, D.B. Zwirn &Co., LP. 720-9000Fax Attachrrents: «kepersInc- 2007 Conposte ElectIon.pdf» «NYS Non-Res Wthhokkg Attachment -LP Investors.pdf>> January 10, 2008 Jeepen- Please approve To: Lee, David CC: Hubsher, Eke; Whte, Mcele Notes: a • Can you please approve serdhg the attached tax enad to Jeepers? Thanks as ZWm 8, Co. ry 13, 2008 30•00n,Inc, redemption notice reed- L292 does rested Confidential VRF 00000013 EFTA01082467 To: didesq@aoLcom CC: Hubsher, Erse; Howe, Cara; Jean Paul Hanna Notes: Darren, 'thank you for the attached notification to wthdraw Jeepers, Inc.'' investments in the D.B. Zwirn Special Opportuntles Fund LP. In order to process these rederrptbris, we we need you to complete the attathed Request for withdrawal of Interests form Panay note, one docurnent mat be completed for each available redenptbn date. The Apn11, 2002 Wiestrent Is avertable June 30, 2008, the September 1, 2002 imearrent h avabble September 30, 2008, the December 1, 2002 Wiesbrent Is avalable oecenter 31, 2008, the January 1, 2005 investment b available March 31, 2009 and the June 1, 2003 Investment is available June 30, 2009. Once the redemption documents have been firth, completed please remand copes to me to review before send Pee 'nets to GlobeOp. Feel free to contact rre should ou Nixie White D.B. barn & CO. ttachrrents: «I.GA•WFX•01_ . . February 13, 2008 notice for Jaspers Inc - reed via Fax To: Howe, Cara From FAXCOM Fax Server Notes: cflia:/A\dbado•colT493>he3kciliallared1sPeco9Fellnvestor RehtlonsUnvestor Correspondence:gasrdal Trust Corrparinkepers Inc Redemption Nome 21108 pdf> FAXCOM RECEIVEDFAX REPORT — .....____ Received Tire : 02/13/200812:56 (GMT-05:00) Resist : OK Description : AO pages received OK Resat Code : 0000 Pages Reteked: 0004 Bad Pages : MOO Remote TSI : Connect Tice : 0063 Seconds Fax Me : 1 Routing /D : 9652 Baud Rate : 14400 Bps The fax is hailed as a PCF document attachment. Attachments: «LGAMPX•01_0802131757193317.pdf» March 27, 2008 2007 Tax Estimate - Creepers . To: Be r • pers, Inc. (hbellertenysgrrall corn) CC: Belo', Harry*Jeepers, Inc. (JB3enn@attglobalnet) Front Schumacher, Suzanne Notes: dee/ bba Nocaf,shared\specopps\OperatbnsN.Accounthg1Tax\2007\Investor K-1. Estkrates\pdf letters - C62 SOF U> • 3.26.08 EsUrretes1leepers PIZ SOF IP - 2007 > We ror 'rend out the final K-1 In the wane. Sincere larn &Co. LP. HYPERLINX 'b Pe April To: Lee, David CC: Hubsher, E&e; Schumacher, Suzann Notes: David Please a rove the attached draft erne to Harry Beier wth lepersInes QI 2008 NYS Letter. Thanks, Made Whte D.& Zwirn 8 Co. ntoP.whte@dbrco.com Attachrrcnts: «Enteddedltent ZWrn Special Apr1111, 2008 RE: JEERERS • PLEASE APPROVE (DI. approves email) To: Whte, Mole CC: Maher, Else; Schumacher, Susanna Front Lee, David Notes: ok Front Wit, Nicole Sent: Friday, Apri 11, 2008 10:17 AM To: Lee, David Cc: Hubsher, Else; Schurrecher, Suzann Subject: JEEPERS - PI FAcF APPRCVE Davtl, Please approve the attached draft erred to Nicole Whte D.B. Zwlm &Co. To: hbelertnysgnollcorn CC: Ferraro, Alicia Notes: May perforrmnce numbers are not yet nnaltzed. We wft send the monthly performance end as soon to numbers are ava lb ble. mai we f >ether Managing Director Investor Relations & Marketing NK July 17, 2008 Current Why Instructions Notes: Dear Mr. teller, We are in the process of updating our records and request that you pease send us the anent ate Instructions for th account It-nested In D. B. ziern S dal 0 ()nun t les Fund LP.: - Inc. Thank you, Suzanne Suzanne Schumacher D. 8. Dern &CO. 3 . nc.- reed via email Front Harry Beier Notes: Suzanne The (plowing arc Wring pars Inc: Bank Nan: Ctibank Il. NY ABA No.: For Credit To: Bear Stearns 11Co. Account a: For Further • . nt a: 038-00152-1-4 mans Harry Front Schu frrato:suzanna.sch Sent: Thursday, July 17, 20085:34 PMTo: Harty Beier Subyxt: Current Wire Instructions Cea'r Mr. Belle ' e are In the p records and request that you please send us the current wire hstruchans for the Thank you, Susanna Suranna Schumacher D. & litri &Co. This e-mail message Is blended only for the muted reciplent(s) above. e hereby nose fled that any use, dissemination, distribution or copyrig of this e-rrel and any attachrrent(s) is strictly prohbted. bran &Co., LP. reserves the right to archn and mentor ale-mill communications through Its networks. U you have received this a-nal h error, pease imnadlately notify the sender by replying to this &wetland delete the message and any attechnent(s) from your system Thank you. August 04, 2008 Communications Front nt: 8/4/2008 8:17:31 AM To: Subject: I received a telephone rtes eh and Jeepers, please make future conrruntatIons to me and anyone else at Zwkn &Co., LP. in writing. We wO respond directly to any such corm=mons or, If appropriate, refer them to counsel Sincerely, avid Lee August 0412008 Communications - Must be In writing Front Lee, Mid To: Baler, Harredeepers, Inc. 0=IIIMPEa l Cc: Wisher, Else; Howe, Cam Sent: Mon Aug 04 08:17:31 2008 Subject: CommunkatiOaS Dear Harry: I received a telephone r•ressage aslen!. to cal you. In fight of the threats of notion made by Jeffrey Epsteh and Jeepers, please make future cormuntatlons to rre and anyone else at Zahn &Co., LP. la writing. We will respond direct& to any such cormuntatbns or, if appropriate, refer them to counsel Shcerehr, yid Lee August 22, 2008 I=Mi & Co, L.P. - Investor Carresponde ace h the pr f updating our Investor records. If ou wouldCul to be removal from Mb distribution Isl. lease send an erred to Illiff Thank yo en &Co., LP. afiguseAfit zoo, .. .. ninetahnORIK8Unttellfiffttit LP. -.Q0at/BWK:StftMenaf7 - Confidential VRF 00000014 EFTA01082468 Attadaed please 91d the most int Investor convent:my for the M. ?wit Special Opportunbas Fund, LP. Please let US bow f have any questbns or corrrrents Best Regards, ZvAm &Co., L P. 745 Rfth Avenue, 18th Floor New York, NY 10151 (646) 720-9100 Phone (646) 720-9000 Fax IROdbzco.com August 25, 2008 El Zvi&n Special Opportunities Fund, LP. - Performance Information' Dear Investor: For the ninth ended July 31, 2008, Zwk-n Special Oppaitunties Fund, LP. posted an unauMed net return of -1.37%, bringing Is year-to-date net return to -11.83% Best Regards, Davin &Co., LP. Important Discbsures Perfomonce is an unaudited rate of return based on the market value of D.8. Zbvirn Special Opportunt d, LP. (the "Fund,. Pertomance Indudes captalcontritutions and withdrawals, as applcable, k net of fees and expenses and Includes the rehvestrrent of earnings. The returns are calcubted net of rranagement tees of 2% and an aBacationancentlie fee of 20%. The Fund's tees nay be modified or waived for certain investors. Please refer to the Fund's offering memorandum for more tiformatbn regarding the Fundis fees. It shoukl be noted that as a recut of certain factors Inckiting among others, an investors eligibility to parUcpate ri 'new Issues,' an Investor's actual performance and actual fees may differ fromthose reflected by the Fund. Investors should refer to their quarterly capital account balance statement to detente their actual performance return and the fees applied to their capital account. The FundS urnudted rate of return may include prior period accounting adjustments, redassfkatIons and other tent not relaUng to hvestrrent perfarrance. Future acjustrnents may be rrede to the return, f deentd appropriate. The fund conrnencecl operations on May 1, 2002. The Fund's market value has been deternIned h accordance wth the valuation methodology set forth h the Fund's offering memorandum It should be noted that certain of the Fund's investments have been valued using fat valuation as determined by the cpral ie Partner or third party sources. Past performance Is nguarantee of future returns. This data is being provided do a confidential tests by Zwlrn & Co., LP. FDEZ &Co?) solely for the hforrnattn of those persons to whom t k transmitted. This data is proprietary intonation of DB2 & . d nay not be reproduced or otherwise dtseMnated In who* or r part without 061& Co.'s prior wrtten consent The InfonratIon set forth hereti does not purport to be complete and no obligation to update or otherwise revise such Intermitter Is being assured. No person In any jurisdictbn may treat this hforrration as constituting ether an offer to sell or a saltation of an offer to buy any Interest h the funds. A prospective subscrter must rely solely on the terns of, and disclosure of Information In, the Fund's Thal offering marorandum and related documents, which constitute the only bans on will subsalptIons nay be made. The Feud is a Mghrisk Investment vehlre that k avatabb only to quarried Individuals or entters that are wiling to fl aunt above average risk and treed lqulity. An Investment O the Fund S speculative and Invoties a high degree of it's The tents and risk factors of tik and are set out In is Confklerdal rrMeorandurn which Is avaeable to quarried prospective investorsupon request. September 08,2008 Zwirn SpodeI OPpOrbintles Fund, LP. - Q3 Tax Information Front n Sent: 9/8 0:52 PM To: hbellerijnysgrratcom Cc: JEBrennilattgbbalnet Subject: rn Special Opportunities Fund, LP. anformatbn please find Important correspondence regarding Q3 2008 New Yor Incorrei re Regards, r- ., L.P. September 08,2008 nig Jeepers -12 Investment From Yang, Bo Sent: Monday, September 08, 200811:97 AM To: Hasher, Else CC W/tte, Nicole; Cutler, Lawrence D. 93bject: RE: Jewels - LP hvestrrent HI, Erse, Below are details per your request: The value of Jeepers' June 1, 2003 Investment WO* for ;10,000,000 -on June 30, 2007 and on December 31, 2007 Q30/07 ;17,927,90912/31/07 ;18,982,6527/31/08 $16,296,786 The value of Jeepers' January 1, 2005 inveStrrent original/ for $20,000,000 • on March 31, 2007 and on December 31, 2007. 3/31/07 ;27,093,673 12/31/07 ;29,215,482 7/31/08 $25,760,289 Please let me know f you have any questlais. Thanks, Bo From Hubsher, Else Sent: Monday, Septenter 08, 2008 10:96 AM To: Yang, Bo Cc: White, Ntok; Cutler, Lawrence D. Subject: Jeepers .lP hvestrrent Eh, Can YOU provide the llobrdng Mormatlan The value of JoeperVJune 1, 2003 Investment ortinaly for ;10,000,000 -on June 30, 2007 and on December 31, 2007 The value of Jeepers' January I, 2005 Investment truly for ;20 000 000 - on March 31 2007 and De rrber 31 2007. That Elise Hubshe estor Relations & Markettut September 12, 2008 Re: Pte Approve - deepen From david.leettsdbzeo.com Sent: 9/12/20087:00:15 AM To: cart nova Subject: Re: Pis Approve - Jeepers Ok Sent from rry BlackBeny Wireless Handheld Front Howe, CarT Devid Cc: Hubsher, Use; Schumacher, Suzanne Sent: Fri Sep 12 00:05:05 2008 Subject: Pis Approve - Jeepers Devil - Can you please approve the Co. oclio„. ll.MPIIIMISnri ance Information 0( .1 Thal VRF 00000015 EFTA01082469 Dear Investor, To better reflect the dissolution process Stated on March 31, 2008, h additbn to providing rronthk and yeartodate net returns, we MI Include a measure which we beleve better qua ntrfies the performance of the recovery process. The rretrk, allied 'Recovery Percentage," MI reflect the percent of March 31, 2008 value that has been distrbuted to investors plus the current vat of assets Si the portfolio at current valuation levels. Upon final cash distrbution, at the conclusbn of the Mid down process, the Recovery Percentage a reflect the percentage of Mardi 31, 2008 NAV that has been returned to inited partners. FromMarch 31, 2008 through August 31, 2008, Recovery Pi..........b..y.- for the D.B. ZivIrn SpeckilOpporturitin Fund, LP. (The Fundy totaled an unaudted153.5096. Fori month ended August 31, 2008, the Fund posted an unaudited net return of -6.68%, bringing is year-to-date net return to -17.72%. Best Regards, brim a Co., LP. Inportant 0Iscbsures Perfornence Is an unaudted rate of return based on the midst value of D. B. Zan Special Opportunities und, LP. (the "Fund"). Performance hcludeS Capital contrtutions and mthdrawals, as ape:table, IS net of fees and expenses and includes the reinvestment of earnings. The returns are calculated net of management fees of 2% and an abcatbn/ticentNe fee of 20%. The Fund's fees may be riedred or waked for cede:a k-rvestors. Please refer to the Fund's offering memorandum for more Information regarding the Fund's fees. It shrub be noted that as a result of certain factors including among others, an Investors eligibility to participate In 'new snits," an investor's actual peifornence and actual fees any differ from those reflected by the Fund. Investors shout, refer to that quarterly captal account balance statement to detenrine thet actual performance return and the fees appied to their capital account. The Fund's unaudted rate of return may Include prior period accounthg adjustments, reclassifications and other tens not rebting to Investment perforcenc i um adjustments any be node to the returns, If deemed appropriate. The Fund cormienoad operations on May 1, 2002. the Fund's rrerket value has detemrecl tiaCeerdande with the valuation methodology set forth in the Fund's offering memorandum It should be noted that certain of the Fund's ments have been valued uses fair valuation as detemlned by the General Partner or third party sources. Recovery Percentage equals the sumo( al cash distributbrs since Mardi 31, 2008 plus the current month end NAV of the fund, dialed by the Mardi 31, 2008 NAV, expressed lit percentage terns Recovery Percentage mll reflect the percent of Mardi 31, 2008 NAV returned to irrifestors ONLY when the final ash distribution b made to investors. Prior to the trial cash distribution the Recovery Percentage Is sir* a measure of cash cfstrtutions pas anent valuation d the Oath*, as a percentage of the Mardi 31, 2008 NAV and should not be ruled upon as an assurance of actual recovery. Past perfomence s no vit of future returns. Mils data s being provided on a confidentbl ut by D.& ban &Co., LP. OWCo.") &Co. solely for the hfonretion of those to whom it s bartsnitted. This data is proprietaryWorrretion of OW & Co. and ney not be reproduced or otherwise disseminated in whole or In pa 082 &Co.'s prbr written consent. The Information set forth herein does not purport to be corrpkte and no obligation to update or otherwise revise such Infonnotbn Is being assumed. to person h any jurisdiction trey treat tins Infometbn as consttu0ng ether an offer to sell or a soklation of an offer to buy any Merest In the funds A prospective suteater must rely soh* on the terns of, and discbsure of intorno tbn in, the Fund's final offering memorandum and related documents, which constitute the only basis on which subscriptions may be mode. The Fuld is a high-rink Investment vehtie that is avalable only to qua led InclIvidualS or entitles that are wing to assure above average risk and ilmted hiuldity. An hvestrient in the Fund Is speaiatke and kwokes a high degree of risk. The team and risk factors of the Fund are set out in is Confidential Memorandum which is available to qualFled prospective Investors upon request. October 20,2008 III Zwirn &Co., M. - Investor Communication Attached please find an Important Investor conmunkation that was sent toi l shareholders of the Zwin Special Opportunities Fund, Ltd. This cormunication is provided for your informationoa stor in the Zwirn Special Op Regards, .& ZWIrn &Co., LP. October 27,2008 LLB. ban &Coy L,.- Investor Communication Attached please find an 'master commalcation that was shoreiimai liiii. only. Regards, D.B. ., L P. November 11, 2008 Zan & Co, L.P. - Worn, Vote Announcement Investor: Effective as of the cbse of btshess on Monday, November 10, 2008, D. & Zwlm S !Opportunities Fund, ltd. (the "Fund') received /requisite consent from shareholders of the Fund to a Fee Deferral Agreement between Zwim &CO., LP. (113ZCCF) and the Fund. Pursuant to the amendment, the dIstrixtIon of the 2004 fees cog be acoebrated as kibws: deferred fees wit be paid !rem the Fund to DOZCO warn 30 days of the end of the curre year; and (I) the refraining balance fromthe &Count wit be paid to 08ZCO h 2009 upon corrpktbn of the 2008 audted financial state but no later than December 31, 2 a adjusted for changes, t any, in the 12/31/08 res from s. Regards, LP. November 24, 2008 D.B. Zwfrn Special Opportunities Fund, LP. - Performance Information Confidential VRF 00000016 EFTA01082470 Dear Investor, To better reflect the dissolution process ire, on March 31, 2008, in addtko to providing monthly and year-to-date net returns, twt ail include a rreasure whit we beleve better qua:Mlles the pe ornery of the recovery process. The metric, celled "Recovery Percentage," nil reflect the percent of March 31, 2008 value that has been cilstrbuted to investors plus the current yoke of assets h tie at current valuation levet,. Upon !hal cash distribution, at the conclusion of the wild down process, the Recovery Percentage we reflect the of March 31, 2008 NAV that has been returned to tatted partners. From Mandl 31, 2008 through September 30, 2008, Recovery Percentage or D.B Zwkn Special Cpportunties Fund, LP. (the Fund') totaled an unaudited 71.62%. For the bringing Is year-to-date net return to -29.43%. Best Regards, return based on the market value Ma& /vim Spedal Opportun t ended September 30, 2008, the Fund posted an unaudted net return of -14.24%, 2vArn &Co., LP. Important Discbsures Performince is an uraudted rate of 'xi, I.P. (the 'Fund"). Performance times capital contributions and withdrawals, as applicable, is net of fees and expenses and hcludes the reinvestment of earnings. The returns are calculated net of management fees of 2% and an allocation'Incentite fee of 20%. The Fund's fees may be rrodfed or waived for certain Mestors. Please refer to the Fund's offering memorandumfor acre itemisation regarding the Funds fees. It shoal be noted that as a result of certain factors including among others, an ((stators eligibaY to Partiobate ti 'new Issues," an Investors actual performance arid actual fees fray differ fromthose reflected by the Reid. Investors Should refer to thelr quarterly captal ascot/It balance staterrent to detente their actual perfomance return and the fees appred to thee captal account. The Funit unaudled rate of return nay include prbr period accounthg adjustments, recital:at-ions and other tens not relating to hyestment performance. Future adjustments may be made to the returns, if deernadappropriate. The Fund commenced operations on May 1, 2002. The Fund's market value has been determined in accordance with the vabatbn mil sidotiqy set forth in the Fund's offering memorandum It shoed be noted that certain of the Fund's kwestrrents have been valued using fat valuation as detentined by the General Partner or third party sources. Recovery Percentage equals the sumof al cash thstrtutions since March 31, 2008 plus the current month end NAV of the Fund, divided by the Mardi 31, 2008 NM, expressed ki percentage terms. Recovery Percentage wi reflect the percent of March 31, 2008 NAV returned to Investors ONLY when the Mai cash distribution is made to investors Prior to the tat cash distrbution the Recovery Percentage 8 simply a rreasure of cash Manbutions pus current vaivation of the portfolio as a percentage of the March 31, 2008 NAV and should not be retell upon as an assurance of actual recovery. Past perforrrence Is no guarantee returns. This data Is being provided on a confidential basis by D.& 2wirn &Co., LP. (MEC &Co.") solelyfor the Information of those to whom t transmtted.This data Is proprietary hfonnetbn of DK &Co. and nay not be reproduced or otherwise asseninated in whole or In palwithout Dee &Co.'s prior written consent. The InfOrmattin set forth herein does not purport to be complete and no obigation to update or otherwise revise such 'flotation Is behg assumed. Pb person h any jurisdiction may treat this Information as consttuting ether an offer to sell or a solictatlon of an offer to buy any Interest In the funds. A prospective subscrber must rely solely on the terns of, and disclosure of Information in, the Fund's final offering rrermrandumand meted documents, which constlute the only basis on which aubscriptbns nay be made. The Fund is a high-risk investment vehicle that is ava la be only to quer:fled estriduals or entbes that are wiling to assume above average risk and anted liouldity. An investment in the Fund is speculative and involves a high degree of risk. The terns and risk factors of the Fund are sett h is Confldental Merrorandum which 'r e to quaffed prospective Investors upon request. December 05, 2008 Zahn Special Opportunitles Fund,.- Quarterly Commentary Thank you for your interest o., LP. Attached 'base find the rest recent Investor corrrnentaty for the &vim Special Opportuntles it P Regards, LP. December , Company Name Change to :MAK Associates Inc Front Harry Deter Diroilto:hbelenghbrkassociates.com] Sert: Monday, Decenber 08, 2008 2:06 PM To: Harry Defer Subject: Just to dirty. I email will the same organization. I just changed locations and the name cf the firm. Thanks Hang Pease update your records wth the folowlig • BRK Assocates Inc December 10, 2008 Harry request DL fax number Front Lee, David Sent: Wednesday, Decerrter 10, 2008 10:20 AM To: Harty Beier Cc Hubsher, Else Subject'. RE: IIIIMIll. HOPS Harry Behr poito:htielierbilibrkabocates.comt Sere: Wednesday, December 10, 2008 10:18 AM To: Lee, David Subject: RE: David Please provide fie with your fax number Thanls Harry tto:david.leeecbzco.corn] Sent: Monday, December 08, 2008 6:40 PM To: Harry Beier Cc Hubsher, Bice; Lebowitz Seth; Subject: RE: Harry, lust for our records, can you prove is sonnet official from an a uthortted signatory hdlcatir•g that on behalf of Jeepers7 Fruit Many ter (rialto: Sent: Monday, Decerrber 08, 2008 PM To: Harry Beller Subject: Just to Carey. I am still with the sane organ . and ords web the fob Informationfor fie: itiiRX Associates Inc tarry Beller HBRKAssocia intended o* for the named redpent(s) a that any use, dissertation, distribution or copying of this e-mail and any attachment(s) is strictly prohibited. LP. reserves the right to archive and monitor ale-mai communications through is networks. If you have received this e-rmll In error, pease ty notify the sender by replying to this e-nal and delete the message and any attactrent(s) from your system Thank you. December 30, 2009 D.B. beim SpecialOpportunities Fund, LP. - Performance Information Confidential VRF 00000017 EFTA01082471 Dear Lnntur, To better reflect the dissolution process bated on March 31, 2008, h addtbn to providing monthly and year-to-date net returns, we yeti include a measure winch we believe better quantifies the padonrance of the recovery process The metric, Cola 'Recovery Percentage," will relied the percent of March 31, 2008 value that has been distributed to Oman OS the current vase of asset it the portfolo at Current valuation level. Upon Thal cash distribution, at the condusbn of the wind down process, the Recovery Percentage will reflect the percen f Verdi 31, 2008 NAV that has been returned to Meted partners. From March 31, 2008 through October 31, 2008, Recovery Percentage for the Zwirn Special OpcortunitieS Fund, LP. ('the Fad) totaled an unaudited 61.88%. For nth ended October 31, 2008, the Fund posted an um ed -13.60%, brirging is year-to-date net retit o -39.03%. Best Regards, Zwirn & Co., L P. Important Disclosures Perfomence Is an rate of return based on the market yoke d Zvern Special Opportunities F , LP. (the 'Fund"). Performance Indudes capital corenbutens a ravels, as applicable, is net of fees and expe and includes the reinvestment of earnings. The returns are catuated net of menage-rent fees of 2% radon ateatioryincenuve fee of 20%. The Functs fees may be modeled or waived for certah Investors. Please refer to the Fund's offering memorandum for more information regarding the Fund's fees. It should be noted that as a result of certain!t i t°bding among others, an kwestor's *lefty to parUcipate In Mew isms," an Investors actual perforrrana and actual fees nay after from those by the Furs. Investors should refer to their quarterly capital account balance statement to determine the actual performance return and the fees a (her captal account. The Fund's unaudited rate of return nay In prior period accounting ad)usbrents,ipno • ' ns and other tens not rating to hvestrrent performance. Future adjustrrents nay be made to the returns, if deemed The Fund operations on May 1, 2002. The Fund's market vale has been determined in accordance vdth the valuation methodoiogy set forth lathe Fund's erng memorandum it should be noted that cotton of the Fends investments have been valued tang fair valuation as determined by the General Partner or third party sources. Recovery Percentage equals the sumo( al cash distributions ace Mardi 31, 2008 plus the anent month end NAV of the Fund, divided by the March 31, 2008 NAV, expressed In percentage tare. Recovery Percentage we relied the percent of March 31, 2008 NAV returned to investors ONLY when the final cash distribution is node to tweeters. Prior to the final cash distaution the Recovery Percentage is Snip& a measure of cash detnbutIons plus orient valuation of the portfolb as a percentage of the Mardi 31, 2008 NAV and should not be noted upon as an assurance of actual recovery. Pest performance b no guarantee of future returns. Thb data S being provided on a confidential basis byes &dm &C.O., LP. ('ag& Co.") solely for the information of those persons to whomlatransintted. Mk data k proprietary Inforrnition of DBZ &Co. and nay not be reproduced or (itemise disseminated in whole or In part without 082 &Co.'s prior wrtten consent. The inforrabn set forth herein does not purport to be conette and no oblgatbn to update or Otherwise Mae SUMInformation is being assumed. No person in any jurisdiction nay treat this hieratic/las constituting ether an offer to sell or a solicitation of an offer t0 buy anyl a t in the Ards. A prospective subscrter mist rely solely on the terms of, and disclosure of Infornetbe In, the Fund's final offering werrorandura and documents, which constitute the only basis on which subscriptions nay be node. The Fund is higlerlsk investment vehicle that is available only to qua led individual or teas that are wiling to assume above average risk and kilted liquidity. An Investment h the Ford is speculative and involves a high degree of risk The tam and risk factors of the Find are set out in tts Confidential Memorandum which Is available to qualfled prospective Investors upon request. December 31, 2008 M. liven Special Opportunities Fund, L.P. - Investor Communication AS the end Of the year is upon us, we are asking each of our investors to reVew t " • I land Regards, January , s rnSpecial Opporlarn es Fund, E.- Performance Information Dear Investor, To better reflect the dissolution process initiated on March 31, 2008, In addition to provkling monthly and year-to-date net returns, we w0 inckde a mean which we believe better quartiles the performance of the recovery process. The nett, ceded "Recovery Percentage,' WI reflect the percent of March 31, 2078 value that has been detrbuted to Investors plus the turret* value of assets h the paroib at current vanilla levels. Upon final cash distribution, at the conclusion of the Mid down process, the Recovery Percentage we reflect the percents t Mardi 31, 2008 NAV that has been retuned to treed partners. FromMarch 31, 2008 though November 30, 2008, Recovery Percentage for the lean Special Opportunities Fund, LP. (The Fund') totaled an urau0ted 59.09%. For the ncnth ended November 30, 2008, the Fund posted an unaudited net return of -4.54%, bringing is year-to-date net return It 1.80%. Best Regards, D.& NM &CO., LP. Impalent ClscbSuleS Perforanee S an tainted rate of return based on the rrorket vane of ZWIM special Opeortunbes Fund, LP. (the 'Fund"). Perfonranoa Includes capital contnbubons and wthdrawats, as appecable, is net of fees and eme and includes the rekwesbrent of earnings. The returns are caeubted net of management fees of 2% and an allocationiincentke fee of 20%. The Funds fees nay be rated or waked for certain Investors. Please refer to the Fund's offering irerrorandion fee core inforrration regardag the Fund's fees. It should be noted that as a resist of certain factors Including among others, an investor's eligibility t0 pardcipate h "new ksues," an Investors actual perforrronce and actual fees may defer fromthoSe reflected by the Fund. Investors should refer to their quatedy capital account balance staterrere to detainer* their actual performance return and the fees applied to their capital account The Fund's unaudted rate of return nay Include prior period accounUng adjustments, reciassetations and other tent at relating to investment performance. Future adjustment may be made to the returns, if deemed appropriate. The Rind maenad operations on May I, 2002. The Fund's market value has been determined in accordance with the valuation methodology set forth in tte Fund's offering nemerandum It should be noted that certain of the Fund's Investments have been vetoed using fat valuation as detemlned by Me General Partner or Until party sources. Recovery Percentage equals the sum of al cash dktributions since March 31, 2008 plus the current month end NAV of the Fund, dNicied by the Mardi 31, 2008 NAV, expressed In percentage terms. Recovery Percentage wit reflect the percent of Mardi 31, 2008 NAV returned to Investors ONLY when tine final cash distribution Strode to investors. Prior to the final cash dbtrbu0on the Recovery Percentage Is simply a measure of cash distrtutions phis current valuation of the portfolio as a percentage of the Mardi 31, 2008 NAV and should not be relief reliedupon a ssurance of actual recovery. Past performance b no guarantee of future returns. This data is being provided on a confidential bask by Zwim &Co., LP. ('D&& Co.') solely for the information of those persons to whom t is rearsated. This cats is proprietary Information of DEG & . and may not be reproduced or otherwise disseminated in whole or in part without DU &Co.'s prior written consent. The Narration set forth herein does not purport to be caplet and no oblgatbn to update or otherwise revise such Inforrrotion Is being assumed. No person in any juredialon may treat Ms information as constituting ether an offer to sal or a scdetatia of an offer to buy any interest In the fade. A prospective subsaiber must rely solely on the terms of, and dIsCosure of Bannon in, the Fund's final Offering refforandtrnand rated documents, with constitute the only basis on which subscriptions nay be node. The Fund is a high-risk *vestment vehicle that S available only to quailed individuals or entities that are wiling to assume above average risk and rented liquidly. An investment In the Fund is spat-Mire and involves a high degree of risk. The terms and risk factors of the Fund are set out In is Confilenbal Memnon/Jure with S avalable to qualified pracpertiva investors upon request. January 12, 2009 . Zvern Special Opportunities Fund, LP. - Q4 Tax Information Attached please fed invortant correspondence regarding Q4 2008 New York State sourced income. Please note that this k dated nebula which rra require action by January 15, 2009. . end Regards, D.8. Zwin & Co., LP. J re 13, 2009 Cril& Iselin Special Opportunities Fund, LP. • Tax Information Attached please find important 2009. Thank ou for our the. lOnd , R2a4ds, bra &Co., LP. ieliajae4.4 :1‘09 D.B. Z Confidential VRF 00000018 EFTA01082472 Dear Investor, To better reflect the dwelt:xi process belated on March 31, 2008, In addition to providing monthly and year-to-date net returns, we vril Inchide a measure which we believe better (pantries the performance of the recovery process. The metric, caged 'Recovery Percentage; wit reflect the percent of March 31, 2008 value that has been distributed to tweStOrS plus the anent value Of assets h the poitfob at Current valuation levek. Upon soa r final cash astrioutiOn, at the conclusion of the wind down process, the Recovery Percentage wil reflect the percenta/March 31, 2008 NAV that has been returned to &sited partners. From march 31, 2008 through December 31, 2008, Recovery Percentage for the ZWm Special Opportuntles Fund, L P. ("the Fund') totaled an unaudited 48.06%. For the north ending Decerther 31, 2008, the Fund po return of -18.65%. For the year ending December 31, 2008, the Fund posted an unaudted net return of -52.6S%. Best Regards, P. Important Discbsures Performance is unaudited rate of return based on the marloet value of D.& Zoim Special Deportin un , . he °Fund"). Performance includes metal contrbutbns and wthdrawals, as applicable, is net of fees and expenses and insides the reinvestment of earnings The returns are cakulated net of management fees of 2% and an atocatbn/incenthe fee of 20%. The Fund's fees nay be moaned or waived for certain investors. Please refer to the Fund's Warty memorandum for more information regarding the Fund's fealip be noted that as a remit of certain factory including among others, an investors elighety to participate in "new MUM" an investors actual and actual fees nay differ from those reflected by the Fund. Investors should refer to their quarterly octal account balance statement to deter re a actual performance return and the fees appied to their capital account. The Fund's unaudited rate of rethrn ney Include prior perbd accounting adjustments, reaSSIlastbra and Other tens not relating to hvestovent perfomence. Future adjustments nay be made to the returns, If deemed appropriate. The Fund carmen:0d operatbns on May 1, 2002. The Fund's narket value has been detemined in accordance with the valuatbn inothedobgy set forth it the Rand' offering memorandum It should be noted that certain of the Fund's investments have been vatted using fat visitation as determined by the General Partner or third patty sources. Recovery Percentage equals the sum of all cash distrbuthats since March 31, 2008 plus the arrant month end NAV of the Fund, divided by the March 31, 2008 NAV, expressed In percentage term. Recovery Percentage wa reflect the percent of March 31, 2008 NAV returned to Investors WAY when the final cash distrbution k made to Investors. Prior to the final ash distribution the Recovery Percentage lc simply a measure of cash distributions pas current valuation of the portfolio as a percentage of the March 31, 2008 NAV and should rot be feted upon as L sswance of actual recovery. Past pertom s no guarantee of future returns. Thisdata h being provided on a confidential basis by twin &Co., L P. ('210'2 & Co.") solelyfor the Infonvotbn of those persons to whom it h transmitted. This data is proprietary informetbn of D82 & Co. may not be reproduced or otherwise dthertinated In whole or in part without DM & Co.'s prior wrtten consent. The information set forth herein does not purport to be complete and no obligation to update or otherwise revise such Information Is being assumed. No person in any jurisdiction nay treat this Information as constituting either an offer to sell or a sokitation of an offer to buy any interest In the funds. A prospective subsalber rout rely solely on the terms of, and disclosure of infometbn in, the Fund's final offering memorandum and related documents, winch consttute the only bash on which subsairebns nay be made. The Fund h a Mahrask Investment vehicle that is available only to quailed indtvIduals or entities that are eating to assume above average risk and anted Nudity. An investment In the Fund h specubthe and invokes a high degree of risk. The terns and risk factors of the Fund are set out bi ts Confidental Memorandum which is available to qualified prospective investors upon request. March 26, 2009 D.R. Zwfrn Special Opportunities Fund,..- Quantity Commentary Thank you for your Merest Flipp zwin, &Co., LP Fund, LP. Best Regards, O. virn & Co., LP. M 1 March 27, 2009 2008 Tax Estimate iimmo Please see the~a n estIrrete. We exl imimmi to send out the final Kl r. &moiety, II 2%Urn &Co., LP. April 09, 2009 34e ors Settlement Agreement and Release dated April 8, 2009 From Sent: 4/9/2009 7:42:37 AM To: erratigmeramietwa . . . : FV/: fray executed leepers/Epsteln duce the DEC signet . Pease store in corm:hint and also In Investor PrOtrak Bice Mather Zwirn &Co. 745 Pith Avenue, 18th Fbor Ne : 646 720 9143 Eraal: Front We, David Sent: Thursday, Apri 09, 2009 7:20 AM To: Hubsher, Ease; rac, FVP WV executed leepers/Epstein doe attached Front %wen, Undsley Sent: Wednesday, April 08, 20096:09 PM To: c tee, Davkl; Cutler, Lawrence D. Subject: fey executed Jeep Epatein doc attached Lhdsley Bowen D. B. Zwirn & Co. arreilto:towenedbzco.conts April 13, 2009 ZvAm Special Opportunities Fund, LP. - Q1Tax Information Attached please find important correspondence regarding Q1 2009 New YorkState sourced intone. Please note that this h dated material, which may Kind Regards, D.B. ZWirn &Co., LP. Apr warn ec portun'ties Fund, LP.- Q1Tax Information Front rara.howegdozco.com Sent: 4/13/2009 3:27:02 PM To: apipit zSubject FW: D. B. Zven Special Opportunties Fund, LP. - QI Tax infomet on &Co. Investor Relations Sent: Monday, Apra 13, 2009 3:20 DM To: immilempaimmum Subject: D.B. ZWINitl Opportunities Fund, L P.- Q1Tax Inforrretbn Attached please nt correspondence regarding Q12009 New it State Wane. Please note that this is dated rrateria which nay require Apri 15, 2009. i iiiir . Klid Regards, Zwirn ., P. April 29, 2009 D-B. ZvArn Special Opportunities Fund, LP. - 2007 Audited Financial Statements We are pleased to announce that the 2007 audited financial statements for the III Zwtn Special Opportunities Fund L.P. are complete r your Hew and confidentla Kind Regards, , L P. May 04, 2009 ZwIrn & Co., L.P. - 2008 Bernard National - CLOAud We are pleased to announce that the 2008 audted financtil statements for Bernard National Loan Investors, Ltd. are complete raili t review Please note that we regard the audited financial statements as proprietary and confidential documents. Kind Rega May OS, 2009 Arlin Operate mmunlrAuon Confidential VRF 00000019 EFTA01082473 Attached please find an Important corrnunication that was sent to the Shareholders of the i Zwirn Special Opportunities Fund, Ltd. This cormuntatbn is for your Infornstbn only and requires no action on your part. We will send a sirfar comma ration United Partzgi of the a B. Zarin S 10 unties Fund, LP. shorty. If you have any ouestbns, lease contact Eke Flubs Regards, M Zwlm &Co., LP. May 06, 2009 D.B.ZvArn Spedal Opportunities Fund, LP.- Performance laormation Dear Investor, To better reflect the cessation process hitiated on Mardi 31, 2008, In addban to providing rronthly and year-to-date net returns, we hit Include a measure with we beleve better quantiles the iterfOrmanCe of the recovery process. The metric, called 'Recovery Percentage," k•al reflect the percent of Mardi 31, 2008 vale that has been crestrIbuted to investors plus the current value of assets h the portrab at current nation leveb. Upon hal cash distribution, at the comedian of the wind down process, the Recovery Percentage v4 reflect the percentage of Mardi 31, 2038 NAV that has ar been returned to fled partners. From Mardi 31, 2008 through February 28, 2009, Recovery Percentage for the D.B. bin Special Opportunities Fund, LP. ("the Fund) totaled an unaudted 41.64%. Fort its year-to-date net retito 4.97%. Best Regards, nth ending February 28, 2009, the Fund posted an unaudited net return of -1.72%, bringing Zwim &Co., LP. Important as:bares Performance ban unaudted rate of return based on the market value of Zwirn Spedal Opportunities La, LP. (the 'Fund'). Perionrance includes captal contributbre and withdrawals, as operable, b net of fees and expenses and includes the reinvestment of earnings. The returns are calculated net of management fees of 2% and an allocatinolincentere fee of 20%. The Funds fees trey be nodtled or waived for certain investors. Please refer to the Fund's offering irennrandumfor more informatbn regarding the Fund's fees. It should be noted that as a resut of certain factors including among others, an investor's eigibilty to participate in "new issues,' an Investor's actual performance and actual fees nay drier from those reflected by the Fund. Investors should refer to thelr quarterly captal account balance statement to deterrdne their actual performance return and the fees applied to [het capital account. The Funds unaudited rate of return nay Intrude prior period accounting adJusbrents, reasslficatiors and other tens not relating to investment perfcrrrence. Future adjustments trey be made to the returns, if deemed appropriate. The Fund cartrenced operations on May 1, 2002. The Funds rrarket value has been determined In accordance wth the valuatbn methodology set forth In the Fund's offering memorandum It should be noted that Certain of the Fund% Investments have been valued uShg fat valuatbn as determined by the General Partner or third party sources. Recovery Percentage equals the sum of al cash distributions since Mardi 31, 2008 plus the current north end NAV a the Fund, divided by the March 31, 2008 NAV, expressed in pemertage terrrs. Recovery Percentage WV reed the percent of March 31, 2008 NAV returned to investors ONLY when the final ash &Raman Is made to investors. Prior to the final cash disbibution the Recovery Percentage is stray a measure of ash detributions pLs current valuation of the portfolio as a percentage of the Mardi 31, 2008 NAV and should it not be :eked upon as an assurance ct actual recovery. Past perfomence k no guarantee of fare returns. This data k being provided on a confidential ba informaton of y D.B. Zwirn &Co., LP. ("DBZ &Col solely for the Non-nation of those persons to whomt is tninsrntted. This data is proprietary &Oland may not be reproduced or ethernet deseninated h whole or In part without DBZ &Co.'s prior written consent. The information set h herein does not purport to be compete and no obtgatbn to update or otherwise revise such lionretion Is Mina assumed. No person In any jurisdiction may treat this hforrration as consttaing ether an offer to sell or a sactation of an offer to buy any interest in the funds. A prospective subscrber must rely solely on the terns of, and disclosure of itorrration ki, the Fund's finaloffering nerrotandum and rated dccurrentS, with Constitute the only base on which subscriptbrd nay be made. The Fund is a high-risk Investment vehicle that k available my to quarried inclviduals or enttles that are wiring to assume above avenge rkk and lined 5quidity. An investment In the Fund Ls spealatin and Invokes a high degree of ask The terms and risk s factors of the Fund are set out In is Confidential Memorandum which s available to qualied prospective Investors upon request. May 08, 2009 Zwfrn Spacial Opportunities Fund, LP. - Investor Communication Attached please find an Important coanunIcation regarding the Zwirn Spedal Oppo. LP. This requies a reree no Regards, ■ Beim &Co., LP. May 15, 2009 Reminder: ZvArn Special Opportunities Fund, [P. - Consent forms due before 1040 El. on May 22, 2009 Dear Investor: This k a reminder that consent form must be received before 10:00a EST on May 22, 2009. If you would lice to ISMS the consent, please feel free to contact Eke Hubsher at IMM Thank you, D.& ZvArn &Co., LP. May 20, 2009 Reminder:. ZvArvi Special Opportunities Fund, LP. - Consent forms due before 1090 Il. on May 22, 2009 tear Investor: We have not received your consent form This a a wieder they mist be received before 10:0) New Yorktkre on May 22, 2009. If you would like to d ts, please feel free to contact Elise Hubsher at i Thank you, Zwen &Co., LP. May 22, 2009 Special Opportunities Funds Investor Communication Dear Investor, We are pleased to Informyou that as of 10:00 AM today, the deadline for su . proxies In respect of the notices sent to Investors In e D. Zwin Special Opportunities Fund, LP., a& barn Special Opportunties Fund, Ud., Zan Asla/Pacilk Spedal Opportunities Fund, LP. and Zwlm Special Opportuntles (TE) Fund, LP., we had received a sufficient nurrher ot prox for each fund to constitute a quorum and to approve the va us natters for which consent was requested in connect th the replacement of D. & Zwlm & Co., L P. as Investment manager to the funds with an dfltate of Fortress Investment Group LLC. We note that, for I Opportunties Fu vote WI be (hafted at the shareholders' meeting scheduled for May 26, 2009 and, once fated we ex of the funds val be to Fortress at the closing pursuant to the transaction documents described in the consent docurrerts We wou arnica. Investors in L. or the hfful consideration or al natters related to the transaction and ad fonvard to your conthued support as we nuke the transition. Regards, alr Z uwlm &Co., LP. May 26, 2009 D.B. Zwirn Special Opportunities Fund, LP. - Performance Information Confidential VRF 03000020 EFTA01082474 Dear Investor, To better reflect the dissolute:en process related on Mardi 31, 2008, baddltbr to providing rronthy and year-to-date net returns, we we etude a measure which we beleve better quantles the perforrrence of the recovery process. The netrt, called 'Recovery Percentage," WA reflect the percent of March 31, 2008 vale that has been distributed to Investors pluS the arrets value ot assets In the portfolio at current valuation levee Upon • final cash cestrIbutbn, at the condusbn of the wind down process, the Recovery Percentage irk reflect the pers^ of March 31, 2008 NAV that has been returned to tØ partners. From March 31, 2008 through March 31, 2009, ReCovery Percentage for the S Zs-vim Special Opportunities Fund, I. P. ('the Fund) totaled an unaudebed 40.15%. For the neat ending March 31, 2009, the Fund posted an urea net return of -3.58%, bringing Its year-to-date net to -a 38%. Best Regards, D.B. ?aim &Co., LP. Ineortant Disclosures Perfornenda kan unsalted rate of return based on the market value of Zwtn,_peøal Opportuntles Fund, L P. (the "Fund"). Perforrrence rcludes captal contributions and vandrawak, as appicabk, net of fees and ex nses a des the reinvestment of earnings. The tettrns are calculated net of rrenagerrent fees of 2% and an abation/hcentive fee of 20%. The Fund's fees be marled or waked for certain Investors. Please refer to the Fund's offering rrenorandum for rare InfornatIon regarding the Fundy fees. It sFoad be noted that as a result of certain factors including among others, an investor's elgIbIty to particheate b 'new issues,' an investor's actuslperforrrence and actual fees nay differ from those reflected by the Fund. Investors should refer to ther quarterly cuptal account balance statement to determine thee actual pedomence return and the fees appled to (ha capital account. The Fundk unauckted rate of return may Include prier period accountteg adjustments, reclasselcatbns and other tens not relating to West:rent performance. Future ac)ustrrents triby be made to the returns, ideated approprkte. The Rand commenced operations on May 1, 2002. The Fund's rnarket value has been determined h accordance with the vabatbn methodology set forth In the Fitd offering memorandum It should be noted that certain of the Fund's Investments have been valued using fat valuation as detemlned by the General Partner or thud party sources. Recovery Percentage equals the sum of aØ distributbns Sete March 31, 2008 plus the current rronth end NAV of the Fund, divided by the Mardi 31, 2008 MV, expressed in percentage terns. Recovery Percentage we reflect the patent of March 31, 2008 MV returned to Investors ONLY when the fal cash &Motion k nude to Investors. Prior to the final cash distrtutbn the Recovery Percentage is shpt' a measure of cash diStribullons plus current valuatbn of the patrol) as a percentage of the Mardi 31, 2008 MV and should not be reed upon as an assurance of actual recovery. Past performance is no guarantee of future retorts. This data is being provided on a confidential basis by D.8. Zwlm &Co., LP. (D82 &C.o.") solely for the Informaton of those persons to whomt is tranontted. This data k proprietary irfornettm of 062 & Co. and may not be reproduced or otherwise disseminated In whole or in part wthout D82 & Co.'s prior wrtten consent. The Informatbn set forth herein does not purport to be complete and no obligation to update or otherwise revise such kesametion k being assumed. No person In any Jurisdiction may treat this ink:creation as constituting ether an offer to sel ora satiation of an offer to buy any Interest in the funds. A prospective stater mat rely solely on the terns of, and disclosure of bfonTetIOn In, the Fund's Mal offering n-errorandum and related documents, which constitute the only basis on which subscriptions may be node. The Fund is a high-risk Investment vehtle that k ava labia only to quailed Individuak or manes that are wling to assume above average Mk and Wilted liquidity. An investment In the Fund k speculative and involves a high degree of risk The terms and risk factors of the Fund are set out In is Confdentbl Memorandum wadi is avalable to qualified prospective Investors upon request. June 01, 2009 Fortress Value Recovery Fund (NRF') - Investor Communication Dear Investor, We have successful, transferred the management of al four brim Spada Opportunities Rinds to Fortress VRF Advisors 1110, an investment manager affiliated wth Fortress Investment Group. We thank you or your broad partelpathe In the Investment reneger replacement process. Attached is the ADV Part II for FIG LIC for your rev act information. We look to weeks. bn: Else .her are Howe Nicole Wide Best eltar or Relations Fortress ryes or ea Dns Fortress Investment Group .3taly 01, 2009 - Investor Communication r, Please n and note new contact Infornetion below. Bse Hubslier ~ Cara HOve Fortress lnvestrrnt Gratis Nicole White ForW .res -4kitat."1 May 10, 2005 Consent rooked for tr disnoes - Notes: HIP.% 202 InitialSubscription (05.01.02) of $111Rtlataiikt, Notes: <fle:/ffidt203.0Dres3bbal\bcaNshared specopps\OperatbnAACCOuntIng\Investors\Sub Docs\DE2 LP\2002 05\Mancul Trust Cormany, Inc. 2002 05.9:11> 901ftereber 01, 2002. Addl contributbn (09.01.02) ot $10mm into DB2 LP Notes <file://1\diucaconegbbahbcahshared\specopps\Operations\Accounting1Investors\Sub Cocs\DB2 LP\2002 09\Financial Trust Company, Inc. 2002 !Ate> Vii*4 ,42.002 Addl contribution (12.01.02) of *30mm Into DI12 lA riot= edge://\\dbeco.com\gbbahyscahshared \specopps\OperatbrisiAccounting\Investors\Sub Docs\WIZ LP\2002 12\Financial Trus: Company, Inc. 2002 ape> Addl contribution (06.01.03) of ii1Ornm into DE2 LT' ' Noter efilS/A\dbzco aim\gbbahttahshared\specopps\Operations\AccountIngdmestors\Sub Does\DEIZ LEN2003 06\Financial Trust Corrpany, Inc. 2003 Q2 2004Capital Account Statement for Financial•trial 01Mptiing Notes: <Nei/MR:2m com\gbbahloca!shared\specopps Operatbns\Accountingdnveskers\Onshore Statayert~4V)2 2004 statements\di Letters In PDF\2004 06 30LP merged document 1FinandelRust Coripony.pdf> kiatil....MC*94- 'lactic& notei ?"•‘ ' i Notes: 6/1/03-Invested $10Monshorelmesoad $60M onshore 10/20/03 -tweed, to ask for mire ~my • g t 14&iiitSliiid&v":"-~94 Co peelAccount Statement for finenciel Trust ~pen , - • eei---;ii.sV:h4ellk:,.)-.»... "s i i"-€ uka .‘"5,»: Notes: idle://\\dtecaeardribballoca 'shared\specoops'eC per,' tionsiAccountIng\Investors\Onshore Staterrents\2004\Q3 2004 statementsUP letters in PDF\2004 09 30 LP Merged document 1Mandel Trust Company.pdf> Confidential VRF 00000021 EFTA01082475 M ' 31, 2004 Q4 2004 Capital Account Statement for Financial Trust Canaan), Notes: iciam/ALdbzco.conliglobaRbcalIshareMspecopps Operations1Accoi.nting investors1Onshom StatemmtsV004\Q4 2004 daterrentsg, letters n PDR2004 12 31LP rrerged dear-feet 1Financial Trust Congany.pdf > January 01, 2005 Addli contribution (01.01.05) of $20rnm into DBZ LP Notes: cfle://Vdbzoo.corriNglobaBbcalishared\specopps\OperatimsViccounting\liwestors\Sub Docs‘DEZ LP\2005 01\Flnanctkl Trust Conpany 2005 01.pdf> January 11,2005 Ode latter - (1/11/05) Notes: eflia://Vdinco.corrkgbbalgoca hareclispecopps‘investor Retatbns1Sile notes1FTC (1. 11.05).Pa> March 31,2005 Q12005 Capital Account Statement for Financial Trust Company Notes: <fie:/A‘dbaco.contsbbaRkxaRsharedispecoppsIOperationSiAccountingUnvestors\Onshore StatementsV005L2005 Qt statementsVP Letters In PDEV.005 03 31 LP merged document 1 Financial Dust CouPtinY-PiE> May 12, 2005 Original consent received for LP OM changes NULL June 30, 2005 Q2 2005 Capital Account Statement for Financial Trust Company Notes: <Mei/Maze°, confebbaRbe.a ed sPecoppSkOperatians Accounlingiinvestors\OnShore StaterrentA2005VC05 Q2 Letters In PCF12005 06 30 LP merged document revised 101am:illTrust Company. pet> September OS, 2005 CO NYS letter - (9/8/05) Notes: -cfl '/A1dbzco.cordgiobalilocaRshared\specopps\NIS 3Q ietterifinancial Oust Co Q3 NYS letter.p&> September 13,2005 2005 Iniemption Certificate Notes: September 15, 2005 SIde Letter (FTC) - (1/11/05) Notes: September 21, 2005 Q3 NYS Letter (FTC) - (9/8/05) Notes: September 30,2005 Q32005 Capital Account Statement for FinancialTrust Company Notes: <fle://Vdbzco.com globaVocakshared\specopps\CperatbnsI,Aciaiunting\Investors\Onshore StatementsV005V005 Q3 staterrentsVP Letters in PDF\2005 09 30 LP merged document 1 Financial Mist Corrpany.pd•> December 31, 2005 Q42005 Capital Account Statement for FinancialTrust Company Notes' <MeV globalVocalIsharoMapacopps OporationsI,AccountingVnvastors\Onshore StatementsV005V005 Q4 statements\U) tatters in PDFVP final me ers Q4 2005 1Financial Trust Company. pdf> January 01, 2006 Transfer In (01.01.06) of $114,379,190 Into DBZ LP Notes: <fle://eN gbbakboNshered\specoppA0perationslAccountIng\InvestorgSubC005108Z IP\200601Veepers Inc 2006 01.1XE> January 11, 2006 Q4 NYS Lattsr - (01.11.06) Notes <fk:/AVRuco.cornIgbbaMoCataharecAsPeCOPPS1Operatbm\Accounting\IMAMS 4Q Letters 2005N,Non-wthhekl1Finandal Oust COnPanY Q4 COS Letter.pcif> March 31, 2006 Q12006 Capital Account Statement for Fnancial Trust Company Notes: efile://..MgloballocaRsharedLspecopps\Operations\AccountingI,Investors\Onshore Statements\2006\2006 Q1 statementALP Letters in PDF\LP final mere ersQl 2006 1 Fhoncial Dust Co. pdf> October 09, 2006 Investor Alert: Departure of Perry Gnus Notes; Tred caring out no one armverecL January 04, 2007 Seth called to advise TW of what is taking place with Jeffrey Epstein's Interest in DSZ LP. He has a tax issue so we have retroactively transferred Fits interest to leepers Inc as of 1/1/06. Notes: Not official yet, Wel We receive the Bab' notarUed sub dots which are coning next week. FTC transfered its interest in LP to their Motif owned subsidiary Jeepers. AI subject to recent to futy notarized dots - Seth will forward once he receives them January 10, 2007 Original Jeepers Inc 12/31/05 transfer dote reed via Inter-office mail from Seth NULL February 20, 2007 Jeffrey Epstein requests full withdrawal of Jae pars account on 3/31/07 - aligiblay to be rev lowed (reed via certified mai) Notes: cflie://Vdbcco.oarrnglobaEbcaliaarecBspecoppsI,investor RelatbnAinvestor Correspordenceifband:di-lust CompanyVeepers Inc. Withdrawal Request 2.14.0/. pdf> March 02, 2007 Original 2006-2007 Composite Return Election pep* raa'spiiiakIPS: NULL Confide-dial VRF 00000022 EFTA01082476 febriory 19, 2008 Jeepers Inc meking 6/30/08, 9/30/08, 12/31/08, 3/31/09 and 6/30/09 redemptions from DB2 LP - redoMption does toed via mocsingsp, • KILL Notes IX called ten Vettr. Send letter re: upgraded etrasautire Will4045400GootoureRomac Notes DZ - X 12:topn Mork Moves cskd David extyck a attorney re"n Ci240 1' 4 041,43/4014 A•kt‘i iSSYM0104TAte a e t.tiree: NULL 3anuary 11, 200: iktalfte, 0/4 end CH/tIA/ *tft Sit; fie gf,:#,,Oatil***070ffiloottegtoeithioitt* non-resident tax letter that was distributed. NULL • 3une 10;2009 • .0011elithliekeY ( 0 0 • Relayed to Harry Refer estimated unaucRed 12/31/08 balance di $41,707,011. He yAlmet the statements fora mare "offIdar nutlet. He asked Men he coati expect to receive his rederrptbn ant. We discussed the leverage and the fact that the sec-uteri cream would be pald first and then the redeerrers. Also note that the revised year end balance for 2007 cost audt VIM ;95,228,091 Confidential VRF 00000023 EFTA01082477