LEVEL 3 COMMUNICATIONS INC

CUSIP: 52729N308 Class: COM NEW

Arbiter Partners Capital Management LLC's Holding History (CIK: 0001513193)

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

Q4 2013
Shares 50,000 Value ($000) $1,659 Avg Close — Range —
Q3 2013
Shares 50,000 Value ($000) $1,335 Avg Close — Range —
Q2 2013
Shares 50,000 Value ($000) $1,054 Avg Close — Range —