ITT EDUCATIONAL SERVICES INC

Ticker: ESINQ CUSIP: 45068B109 Class: COM

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

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

Q3 2014

Shares 4,700 Value ($000) $20 Avg Close $10.38 Range $4.07 - $17.17

Q2 2014

Shares 4,400 Value ($000) $73 Avg Close $22.79 Range $16.20 - $29.89

Q1 2014

Shares 4,400 Value ($000) $126 Avg Close $33.09 Range $26.73 - $45.80

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	4,700	$20	$10.38	$4.07 - $17.17
Q2 2014	4,400	$73	$22.79	$16.20 - $29.89
Q1 2014	4,400	$126	$33.09	$26.73 - $45.80