ISHARES INC

Ticker: EWY CUSIP: 464286772 Class: MSCI STH KOR ETF

Narwhal Capital Management's Holding History (CIK: 0001461287)

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

Q4 2014
Shares 15,746 Value ($000) $871 Avg Close — Range —
Q3 2014
Shares 23,046 Value ($000) $1,395 Avg Close — Range —