ALLIANCE DATA SYSTEMS CORP

Ticker: BFH CUSIP: 018581108 Class: Common Stock

ZEVENBERGEN CAPITAL INVESTMENTS LLC's Holding History (CIK: 0001276918)

Note: Option positions (PUT/CALL) are excluded.

Q1 2016

Shares 194,695 Value ($000) $42,833 Avg Close $150.81 Range $121.75 - $190.20

Q4 2015

Shares 194,965 Value ($000) $53,921 Avg Close $195.34 Range $176.62 - $209.37

Q3 2015

Shares 223,910 Value ($000) $57,988 Avg Close $186.69 Range $166.74 - $212.15

Q2 2015

Shares 236,135 Value ($000) $68,937 Avg Close $206.58 Range $199.46 - $215.06

Q1 2015

Shares 234,885 Value ($000) $69,585 Avg Close $197.30 Range $185.37 - $207.98

Q4 2014

Shares 237,910 Value ($000) $68,054 Avg Close $189.01 Range $158.91 - $201.93

Q3 2014

Shares 231,470 Value ($000) $57,467 Avg Close $181.41 Range $165.31 - $198.97

Q2 2014

Shares 222,040 Value ($000) $62,449 Avg Close $175.84 Range $159.08 - $196.03

Q1 2014

Shares 202,490 Value ($000) $55,168 Avg Close $185.53 Range $158.90 - $207.12

Q4 2013

Shares 273,345 Value ($000) $71,871 Avg Close $164.88 Range $144.55 - $182.18

Q3 2013

Shares 312,965 Value ($000) $66,183 Avg Close $136.89 Range $118.07 - $151.66

Q2 2013

Shares 195,150 Value ($000) $35,328 Avg Close $118.19 Range $105.32 - $127.74

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	194,695	$42,833	$150.81	$121.75 - $190.20
Q4 2015	194,965	$53,921	$195.34	$176.62 - $209.37
Q3 2015	223,910	$57,988	$186.69	$166.74 - $212.15
Q2 2015	236,135	$68,937	$206.58	$199.46 - $215.06
Q1 2015	234,885	$69,585	$197.30	$185.37 - $207.98
Q4 2014	237,910	$68,054	$189.01	$158.91 - $201.93
Q3 2014	231,470	$57,467	$181.41	$165.31 - $198.97
Q2 2014	222,040	$62,449	$175.84	$159.08 - $196.03
Q1 2014	202,490	$55,168	$185.53	$158.90 - $207.12
Q4 2013	273,345	$71,871	$164.88	$144.55 - $182.18
Q3 2013	312,965	$66,183	$136.89	$118.07 - $151.66
Q2 2013	195,150	$35,328	$118.19	$105.32 - $127.74