NARROWS/LDB FINE ART

NARROWS/LDB FINE ART PLEDGED TO CHARITY PARTIAL OWNERSHIP HELD IN SCORP JULY 2014 SOTHEBY'S VALUATION Artist Item Description Total Paid (in USD Sothebys Appraised Value (July 2014) Fair Value (% Ownership) or Cost (if not on Appraisal) Fair Value Less Total Paid IF PROMISED (PLEDGED) GIFT, NAME OF DONEE OWNERSHIP % INSTITUTION TIEPOLO, GIOVANNI BA • 300,000 300,000 100% National Gallery Was A Moorish Nobleman 170,340 129,660 BRAQUE, GEORGES Home•a to J.S. Bach 48% interest 13 005 000 6,242.400 (6,762,600) 48% MoMA KIPPENBERGER, MART Untitled (from the series The Raft of the Medusa) t 3,819,135 2,500,000 2,500,000 (1,319,135). 100% MoMA BRAQUE, GEORGES La table (Still Life with a Fan t 50% interest 2,871,938 5,500,000 2,750,000 (121,938) 50% MoMA SMITH, DAVID Sentinel (66.66% Interest) 2,461,667 8,000,000 5,333,333 2,871,667 67% MoMA SERRA, RICHARD Torqued Ellipse IVt (75% interest) 1,016,750 12,500,000 6,250,000 5,233,250 50% MoMA VAN LEYDEN, LUCAS The Angel Gabriel for an Annunciation4 (44.22% int 3,251,250 6,800,000 3,006,960 (244,290) 44% Met DE SAINT-AUBIN, GABR The Triumph of Pompey4 (50% interest) 212,462 400,000 200,000 (12.462) 50% Met GAUGUIN, PAUL The Artists Portfolio, Pont Aven t (50% interest) 724,000 362,000 (362.000) 50% Met BRONZINO, GNOLO Seated Male Nude (Study for the Martyrdom of Sain 2,172,500 4,000,000 2,000,000 (172.500) 50% Met INGRES, JEAN-AUGUST Virgil Reading the Aeneid to Augustus, Livia, and 0( 650,250 1,500,000 600,000 (50.250) 40% Met GERICAULT, THEODOR Recto: Deux totes d'orientaux (The Heads of Two T 275,000 250,000 250.000 (25.000) 100% Met MANET, EDOUARD Awes le bain t (Leaving the Bath) (Seated Bather) 210,000 200,000 200.000 (10.000) 100% Met CALLOT, JACQUES Louis de Lorraine-guise, Prince de Phalsbourg, in Ai 287,390 600,000 300.000 12.610 50% Met GRAF, URS The Bearer of the Banner of the Canton Glarust (50 515,969 1,500,000 750.000 234.031 50% Met FRIEDRICH, CASPAR Di View of the Island of Rugen with a Shepard and his 375,000 1,500,000 750.000 375.000 50% Met VAN DYCK, SIR ANTHOf Landscape with a Fann Building (50% interest) 135,313 1,250,000 625.000 489,687 50% Met LEONARDO DA VINCI Studies for Hercules Holding a Club Seen in Frontal 333,179 2,000,000 1,000,000 666,821 50% Met KIRCHNER, ERNST LUD Berliner Strassenszene and [Mime: a double-sided 19,048,000 45,000,000 22,500.000 3,452.000 50% BECKMANN, MAX Selbstbildnis mit Horn (Self Portrait with Horn) tt (5i 11,278.398 42,500,000 21,250.000 9.971.602 50% KIRCHNER, ERNST LUD Stehendes Midchen, Karyatide tt (50% interest) 1,349.076 3,000,000 1,500.000 150.924 50% TURNER, R.A., JOSEPH Seascape: Folkstone 14.841,731 100.000.000 100.000,000 85.158.269 100% 79,004,348 178.669.693 99.665.346 EFTA01199562