ISHARES INC

Ticker: EWH CUSIP: 464286871 Class: MSCI HONG KG ETF

Gramercy Funds Management LLC's Holding History (CIK: 0001548836)

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

Q4 2014

Shares 49,300 Value ($000) $1,013 Avg Close — Range —

Q3 2014

Shares 49,300 Value ($000) $1,002 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	49,300	$1,013	—	—
Q3 2014	49,300	$1,002	—	—