AUTOMATIC DATA PROCESSING IN

Ticker: ADP CUSIP: 053015103 Class: COM

GFI Investment Counsel Ltd.'s Holding History (CIK: 0001688774)

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

Q1 2017

Shares 138,709 Value ($000) $14,202 Avg Close $84.40 Range $77.75 - $87.39

Q4 2016

Shares 136,945 Value ($000) $14,075 Avg Close $76.76 Range $70.20 - $85.82

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2017	138,709	$14,202	$84.40	$77.75 - $87.39
Q4 2016	136,945	$14,075	$76.76	$70.20 - $85.82