ENERGY RECOVERY INC

Ticker: ERII CUSIP: 29270J100 Class: Common Stock

Ruffer LLP's Holding History (CIK: 0001426859)

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

Q4 2013

Shares 160,000 Value ($000) $888 Avg Close $5.62 Range $4.56 - $7.55

Q3 2013

Shares 160,000 Value ($000) $1,143 Avg Close $5.20 Range $3.99 - $7.75

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2013	160,000	$888	$5.62	$4.56 - $7.55
Q3 2013	160,000	$1,143	$5.20	$3.99 - $7.75