EMERITUS CORP

CUSIP: 291005106 Class: COMMON STOCK

Arbiter Partners Capital Management LLC's Holding History (CIK: 0001513193)

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

Q2 2014
Shares 22,200 Value ($000) $703 Avg Close — Range —
Q1 2014
Shares 22,200 Value ($000) $698 Avg Close — Range —
Q4 2013
Shares 46,200 Value ($000) $1,000 Avg Close — Range —