EXLSERVICE HOLDINGS INC

Ticker: EXLS CUSIP: 302081104 Class: COM

THIRD AVENUE MANAGEMENT LLC's Holding History (CIK: 0001099281)

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

Q4 2014

Shares 15,007 Value ($000) $431 Avg Close $5.48 Range $4.84 - $5.85

Q3 2014

Shares 550,283 Value ($000) $13,432 Avg Close $5.55 Range $4.88 - $6.10

Q2 2014

Shares 550,283 Value ($000) $16,206 Avg Close $5.78 Range $5.44 - $6.24

Q1 2014

Shares 456,479 Value ($000) $14,110 Avg Close $5.54 Range $4.88 - $6.23

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	15,007	$431	$5.48	$4.84 - $5.85
Q3 2014	550,283	$13,432	$5.55	$4.88 - $6.10
Q2 2014	550,283	$16,206	$5.78	$5.44 - $6.24
Q1 2014	456,479	$14,110	$5.54	$4.88 - $6.23