EDUCATION MGMT CORP NEW

Ticker: EDMCQ CUSIP: 28140M103 Class: COM

Tower Research Capital LLC (TRC)'s Holding History (CIK: 0001533421)

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

Q3 2014

Shares 54,694 Value ($000) $60 Avg Close $1.38 Range $1.00 - $1.86

Q1 2014

Shares 3,655 Value ($000) $18 Avg Close $6.96 Range $4.55 - $10.95

Q4 2013

Shares 3,130 Value ($000) $31 Avg Close $11.73 Range $9.11 - $16.94

Q3 2013

Shares 650 Value ($000) $6 Avg Close $7.60 Range $5.60 - $9.19

Q2 2013

Shares 7,204 Value ($000) $40 Avg Close $5.84 Range $3.43 - $7.78

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	54,694	$60	$1.38	$1.00 - $1.86
Q1 2014	3,655	$18	$6.96	$4.55 - $10.95
Q4 2013	3,130	$31	$11.73	$9.11 - $16.94
Q3 2013	650	$6	$7.60	$5.60 - $9.19
Q2 2013	7,204	$40	$5.84	$3.43 - $7.78