NORFOLK SOUTHERN CORP

Ticker: NSC CUSIP: 655844108 Class: COM

Willis Investment Counsel's Holding History (CIK: 0001310929)

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

Q4 2016

Shares 29,015 Value ($000) $3,136 Avg Close $83.99 Range $74.46 - $92.84

Q3 2016

Shares 55,715 Value ($000) $5,408 Avg Close $75.16 Range $68.43 - $80.53

Q2 2016

Shares 52,815 Value ($000) $4,496 Avg Close $69.72 Range $63.83 - $76.86

Q1 2016

Shares 50,415 Value ($000) $4,197 Avg Close $61.54 Range $52.69 - $70.78

Q4 2015

Shares 50,015 Value ($000) $4,231 Avg Close $69.12 Range $61.01 - $79.94

Q3 2015

Shares 49,900 Value ($000) $3,812 Avg Close $65.12 Range $57.94 - $70.74

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2016	29,015	$3,136	$83.99	$74.46 - $92.84
Q3 2016	55,715	$5,408	$75.16	$68.43 - $80.53
Q2 2016	52,815	$4,496	$69.72	$63.83 - $76.86
Q1 2016	50,415	$4,197	$61.54	$52.69 - $70.78
Q4 2015	50,015	$4,231	$69.12	$61.01 - $79.94
Q3 2015	49,900	$3,812	$65.12	$57.94 - $70.74