Asbestos and lead survey report cover, 130 Cedar Street, July

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JLC Environmental Consultants, Inc. 200 Park Ave. South - Suite 1001. New York. NV 10013 Phone: (212) 420-8119 - Fax: (212) 420-6092

0 Masterworks Development Corp. 56 West 45th Street New York NY 10036 ELAP Lab Code: 11029 NIOSH and AIHA Lab Code: 100273 NVLAP Lab Code: 101953-0 .1

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Date Received• 043271

ASBESTOS 05/26!2004 Date Analyzed: 05/26/2004 SUMMARY OF ANALYTICAL RESULTS - PLM Batch #: 0403440 SITE: 130 Cedar Street

SAMPLE # COLLECTED DESCRIPTION /LOCATION Asbestos Non-Asbestos COLOR Asbestos Constituents LAB # Constituents Detected? (%) (%)

20783 12x12 Floor Tiles, Black, Black No 05/25/2004 Homogeneous, Non-Friable Note: Recommend TEM 0403440-029 Ground Floor/ North Elevator/ 2nd Elevator From North/ Sample of 12x12 Non-Fibrous Material 1000/0 Floor Tiles

20853 12x12 Floor Tile Mastic, Black/ Beige, Black/ Yes Chrysotile Trace Fibrous Glass 7•/0 05/25/2004 Non-homogeneous, Non-Friable Beige Note: Recommend TEM Cellulose Fiber 8% 0403440-030 Ground Floor/ North Elevator/ North Side/ Sample of 12x12 Floor Tile Mastic Non-Fibrous Material 84%

209S3 12x12 Floor Tile Mastic, Black, Black No Cellulose Fiber 05/25/2004 Homogeneous, Non-Friable Trace Note: Recommend TEM Fibrous Glass Trace 0403440-031 Ground Floor/ North Elevator/ South Side/ Sample of 12x12 Floor Tile Mastic Non-Fibrous Material 98%

21053 12xl2 Flom Tile Mastic, Beige, Beige No 05/25/2004 Homogeneous, Non-Friable Note: Recommend TEM 0403440-032 Ground Floor/North Elevator/ 2nd Elevator From North/ Sample of 12x12 NonFibrous Material 100% Floor Tile Mastic

211T3 Boiler Room Air Vent Caulking, Dark Dark No Cellulose Fiber 05/25/2004 Brown, Homogeneous, Non-Friable 1% Brown Fibrous Glass Note: Recommend TEM 1% 0403440-033 Ground Floor/ Leading Dock/ Sample of Boiler Room Air Vent Caulking Non-Fibrous Material 98%

0 Gulam Machhli a, Lab Director Page 6 of 9 Report Date: July 06, 2004

NYC-WTC 000125296