CHOICE HOTELS INTL INC

Ticker: CHH CUSIP: 169905106 Class: Common Stock

SALEM INVESTMENT COUNSELORS INC's Holding History (CIK: 0000884423)

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

Q2 2014

Shares 8,300 Value ($000) $391 Avg Close $39.87 Range $38.43 - $41.99

Q1 2014

Shares 8,300 Value ($000) $382 Avg Close $42.50 Range $38.84 - $44.40

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2014	8,300	$391	$39.87	$38.43 - $41.99
Q1 2014	8,300	$382	$42.50	$38.84 - $44.40