GREENBRIER COS INC

Ticker: GBX CUSIP: 393657101 Class: COM

Arrow Financial Corp's Holding History (CIK: 0000717538)

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

Q4 2013

Shares 200 Value ($000) $7 Avg Close $21.58 Range $17.33 - $24.66

Q3 2013

Shares 200 Value ($000) $5 Avg Close $17.08 Range $15.50 - $18.73

Q2 2013

Shares 200 Value ($000) $5 Avg Close $17.07 Range $14.73 - $18.61

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2013	200	$7	$21.58	$17.33 - $24.66
Q3 2013	200	$5	$17.08	$15.50 - $18.73
Q2 2013	200	$5	$17.07	$14.73 - $18.61