ALLIANCE DATA SYSTEMS CORP

Ticker: BFH CUSIP: 018581108 Class: Common Stock

SPHERA FUNDS MANAGEMENT LTD.'s Holding History (CIK: 0001496201)

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

Q1 2014

Shares 4,596 Value ($000) $1,252 Avg Close $185.53 Range $158.90 - $207.12

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	4,596	$1,252	$185.53	$158.90 - $207.12