GRAY TELEVISION INC

Ticker: GTN CUSIP: 389375106 Class: Common Stock

Connor, Clark & Lunn Investment Management Ltd.'s Holding History (CIK: 0001596800)

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

Q2 2014

Shares 128,500 Value ($000) $1,797 Avg Close $11.23 Range $9.02 - $13.44

Q1 2014

Shares 426,593 Value ($000) $4,883 Avg Close $11.35 Range $9.04 - $14.98

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2014	128,500	$1,797	$11.23	$9.02 - $13.44
Q1 2014	426,593	$4,883	$11.35	$9.04 - $14.98